AceVector Ltd Auditor Reports

on the restated consolidated summary statement, comprising the restated consolidated statement of assets and liabilities as at March 31, 2026, March 31, 2025 and March 31, 2024,  the restated consolidated statement of profits and loss (including other comprehensive income / loss), the restated consolidated statement of changes in equity and the restated consolidated statement of cash flows for each of the years ended March 31, 2026, March 31, 2025and March 31, 2024, the restated summary statement of material accounting policies, and other explanatory information of Acevector Limited (hereinafter collectively, the " Restated Consolidated Summary Statements " )

The Board of Directors, Acevector Limited

Mezzanine Floor, A-83 Okhla Industrial Area, Okhla Phase-II, South Delhi, New Delhi, Delhi, India, 110020

Dear Sirs/Madams:

1. We, S.R. Batliboi & Associates LLP, Chartered Accountants ( " we " or " us " or SRBA " ) have examined the attached Restated Consolidated Summary Statements of Acevector Limited (the " Company " ) and its subsidiaries (the Company, together with its subsidiaries are hereinafter collectively referred to as the " Group " ) as at March 31, 2026, March 31, 2025 and March 31, 2024 and for each of the years ended March 31, 2026, March 31, 2025 and March 31, 2024 annexed to this report and prepared by the Company for the purpose of inclusion in the Red Herring Prospectus ( " RHP " ) and Prospectus ( " Prospectus " ) (collectively the " Offer Documents " ) in connection with its proposed initial public offer ( IPO ) of equity shares of face value of Re 1 each of the Company ( " Equity Shares " ) comprising fresh issue and an offer for sale of shares held by the selling shareholders (the " Offer " ). The Restated Consolidated Summary Statements which have been approved by the Board of Directors of the Company at their meeting held on September 09, 2026 have been prepared in accordance with the requirements of:

a) Section 26 of Part I of Chapter III of the Companies Act, 2013 ( " the Act"); b) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "ICDR Regulations"); and c) The Guidance Note on Reports in Company Prospectuses (Revised 2019) (as amended) issued by the Institute of

Chartered Accountants of India ( " ICAI " ), (the " Guidance Note " ).

Managements Responsibility for the Restated Consolidated Summary Statements

2. The preparation of the Restated Consolidated Summary Statements, which are to be included in the Offer Documents, is the responsibility of the management of the Company. The Restated Consolidated Summary Statements has been prepared by the management of the Company in accordance with the basis of preparation, stated in note no. 2.1 of Annexure V to the Restated Consolidated Summary Statements. The managements responsibility includes designing, implementing and maintaining adequate internal controls relevant to the preparation and presentation of the Restated Consolidated Summary Statements. The management is also responsible for identifying and ensuring that the Company complies with the Act, the ICDR Regulations and the Guidance Note.

Auditor s Responsibilities

3. We have examined such Restated Consolidated Summary Statements taking into consideration: a) the terms of reference and terms of our engagement agreed with the Company vide our engagement letter dated June 10, 2025 and addendum dated July 15, 2026 requesting us to carry out the assignment, in connection with Offer; b) the Guidance Note that requires us to comply with the ethical requirements of the Code of Ethics Issued by the ICAI. c) concepts of test checks and materiality to obtain reasonable assurance based on the verification of evidence supporting the Restated Consolidated Summary Statements; and d) the requirements of Section 26 of the Act and the ICDR Regulations.

Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations and the Guidance Note in connection with the Offer.

Restated Consolidated Summary Statements

4. These Restated Consolidated Summary Statements has been compiled by the management of the Company from:

a. Audited Ind AS consolidated financial statements of the Group as at and for each of the years ended March 31, 2026,

March 31, 2025 and March 31, 2024, which were prepared in accordance with the Indian Accounting Standards

(referred to as " Ind AS " ) as prescribed under Section 133 of the Act read with Companies (Indian Accounting

Standards) Rules 2015, as amended and other accounting principles generally accepted in India, which have been approved by the Board of Directors of the Company at their meeting held on September 09, 2026, July 17, 2025 and September 05, 2024, respectively.

b. Financial statements and other financial information in relation to the Company s subsidiaries, as tabulated below, audited by Other Auditors and included in the consolidated Ind AS financial statements of the Group as at and for each of the years ended March 31, 2026, March 31, 2025 and March 31, 2024:

Name of the Entity	Relationship	Name	of	Audit	Period audited by Other
		Firm			Auditors
Unicommerce eSolutions	Subsidiary	Price Waterhouse			Year ended March 31,
Limited		Chartered			2026
(consolidated)		Accountants LLP
Stellaro Brands Private	Subsidiary	B.B. & Associates			Year ended March 31,
Limited					2026, March 31, 2025
					and March 31, 2024
Shipway Technology	Step down Subsidiary	J.C. Bhalla & Co.			Year ended March 31,
Private Limited	w.e.f. December 17,				2025
	2024

Auditor s report

5. For the purpose of our examination, we have relied on: a. the independent auditor s report issued by us, dated September 09, 2026, July 17, 2025 and September 05, 2024, on the audited Ind AS consolidated financial statements of the Group for each of the years ended March 31, 2026, March 31, 2025 and March 31, 2024, respectively, as referred in Paragraph 4(a) above.

b. As indicated in Paragraph 4(b) above, we did not audit the financial statements / financial information of subsidiaries as at and for the years ended March 31, 2026, March 31, 2025 and March 31, 2024 whose financial statements reflect total assets, total revenues and net cash outflows as tabulated below and included in the Restated Consolidated Summary Statements: (Amount in INR million)

As at and for the year ended	Total assets of subsidiaries	Total revenue of subsidiaries	Net cash Inflow / (outflow) of subsidiaries
March 31, 2026	2,880.94	2,171.45	16.59
March 31, 2025	328.61	325.03	(12.98)
March 31, 2024	144.58	236.30	(37.52)

These financial statements have been audited by other firms of Chartered accountants ( " Other Auditors ), whose reports have been furnished to us and our opinion on the audited Ind AS financial statements of the Group at and for each of the years ended March 31, 2026, March 31, 2025 and March 31, 2024 respectively in so far as it relates to the amounts and disclosure included in respect of above subsidiaries is based solely on the report of other auditors.

6. a) The auditors report on the Audited Ind AS consolidated financial statements of the Group as at and for the year ended March 31, 2026 referred to in paragraph 5(a) includes the following: In our opinion and based on the consideration of reports of other statutory auditors of the subsidiaries, the managerial remuneration for the year ended March 31, 2026 has been paid / provided by the Holding Company and its subsidiaries, incorporated in India to their directors in accordance with the provisions of section 197 read with Schedule V to the Act except in case of one subsidiary the managerial remuneration of INR 1.50 million is in excess of the limits applicable under section 197 of the Act, read with Schedule V thereto

b) The auditors report on the Audited Ind AS consolidated financial statements of the Group as at and for the year ended March 31, 2025 referred to in paragraph 5(a) includes the following emphasis of matter paragraph. Our report dated July 17, 2025, on Consolidated Financial Statement as at and for the year ended on March 31, 2025 includes emphasis of matter paragraph to indicate the restatement of prior year comparatives for the year ended March 31, 2024 and the presentation of the additional Ind-AS balance sheet as of April 1, 2023 consequent to the voluntary change in accounting policy related to accounting for Non-Controlling Interests with Put Option. Our opinion is not modified with respect to this matter.

7. a. The audit report on consolidated financial statements of the Group as at and for the year ended March 31, 2026 referred to in paragraph 5(a) above included the following under section Other Legal and Regulatory Requirements: ?€  modification relating to compliance with Section 197 read with Schedule V of the Act in one subsidiary. (included in Annexure VI in the attached Restated Consolidated Summary Statements)

b. The audit report on consolidated financial statements of the Group as at and for the year ended March 31, 2025 and March 31, 2024 referred to in paragraph 5(a) above included the following under section Other Legal and Regulatory Requirements: ?€  modifications relating to the maintenance of books of account and other matters connected therewith (included in Annexure VI in the attached Restated Consolidated Summary Statements).

8. In respect of examination performed by Other Auditors:

As mentioned in para 5 (b) above, the audits of the Company s subsidiaries for each of the years ended on March 31,

2026, March 31, 2025 and March 31, 2024 was conducted by Other Auditors and accordingly reliance has been placed on the restated summary statement of assets and liabilities and the restated summary statements of profit and loss (including other comprehensive income / loss), restated summary statements of changes in equity and restated summary statements of cash flow statements, the material accounting policies, and other explanatory notes (the

" Subsidiary Restated Summary Statements " ) of subsidiaries examined by them for the said periods. The examination report included for the said periods is based solely on the examination report submitted by the Other Auditors. The Other Auditors have also confirmed that the Subsidiary Restated Summary Statements:

(i) have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/reclassifications retrospectively in the financial years ended March 31, 2026, March 31, 2025 and March 31, 2024 to reflect the same accounting treatment as per the accounting policies and grouping/classifications followed for the year ended March 31, 2026.

(ii) does not contain any qualifications requiring adjustments; or have been made after giving effect to the matters giving rise to modifications given in paragraph 7 above; and

(iii) have been prepared in accordance with the Act, ICDR Regulations and the Guidance Note.

9. Based on our examination and according to the information and explanations given to us and also as per the reliance placed on the examination reports submitted by Other Auditor as at and for years ended on March 31, 2026, March 31, 2025 and March 31, 2024 in respect of certain of the Company s subsidiaries, we report that:

i. The Restated Consolidated Summary Statements have been prepared after incorporating adjustments for changes in accounting policies and regrouping/reclassifications retrospectively in years ended March 31, 2026, March 31, 2025 and March 31, 2024 to reflect the same accounting treatment as per the accounting policies and grouping/classifications followed in the audited consolidated financial statements of the Group as at and for the year ended March 31, 2026.

ii. Our auditor s reports were not modified on the audited consolidated Ind AS financial statements of the Group for each of the years ended March 31, 2026, March 31, 2025 and March 31, 2024, which requires any adjustment to the Restated Consolidated Summary Statements. However, there are modifications in our report on other Legal and Regulatory Requirements relating to maintenance of books of accounts and other matters connected therewith, as disclosed in Note C of Annexure VI to the Restated Consolidated Summary Statements which do not require any adjustment to the Restated Consolidated Summary Statements; and

iii. The Restated Consolidated Summary Statements have been prepared in accordance with the Act, the ICDR

Regulations and the Guidance Note.

10. We have not audited any financial statements of the Group as at any date or for any period subsequent to March 31,

2026. Accordingly, we express no opinion on the financial position, results of operations, cash flows and statement of changes in equity of the Group as at any date or for any period subsequent to March 31, 2026.

11. The Restated Consolidated Summary Statements does not reflect the effects of events that occurred subsequent the date of the report on the audited consolidated financial statements mentioned in paragraph 5 above.

12. This report should not in any way be construed as a reissuance or re-dating of any previous audit report issued by us, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

13. We have no responsibility to update our report for events and circumstances occurring after the date of the report.

14. Our report is intended solely for use of the Board of Directors of the Company for inclusion in the Offer Documents to be filed with Securities and Exchange Board of India, National Stock Exchange of India Limited and BSE Limited in connection with the Offer. Our report should not be used, referred to, or distributed for any other purpose. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is shown or into whose hands it may come.

For S.R. Batliboi & Associates LLP
Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004
per Yogesh Midha
Partner
Membership Number: 094941
UDIN: 26094941HMLJDQ9123
Place: New Delhi
Date: September 09, 2026