BMW Ventures Ltd Auditor Reports

To,

The Board of Directors,

BMW VENTURES LIMITED

1st Floor, Mona Cinema Complex,

East Gandhi Mai dan,

Patna Bihar - 800004 In

Dear Sirs/Madams,

1. We have examined the attached Restated Financial Statement of BMW VENTURES LIMITED, (the Company or the Issuer), comprising the Restated Statement of Assets and Liabilities as at March 31 , 2025,March 31, 2024 and March 31 , 2023, the Restated Statement of Profit and Loss (including Other Comprehensive Income), Restated Statement of Changes in Equity and Restated Statement of Cash Flows for the years ended March 31, 2025, March 31,2024 and March 31, 2023, and the Summary of Significant Accounting Policies and other explanatory information (collectively, the Restated Financial Information), as approved by the Board of Directors of the Company at their meeting held on August 19,2025 for the purpose of inclusion in the Red Herring Prospectus (RHP) prepared by the Company in connection with its proposed Initial Public Offer of equity shares (IPO) prepared in terms of 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 (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 Summary Statements

2. The preparation of the Restated Summary Statements, which are to be included in the RHP to be filed with SEBI, ROC and the Stock Exchanges in connection with the proposed IPO is the responsibility of the Management of the Company. The Restated Summary Statements have been prepared by the Management of the Company on the basis of preparation, as stated in Note 2 to the Restated Summary Statements. The Managements responsibility includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Summary Statements. The Management is also responsible for identifying and ensuring that the Company complies with the Act, ICDR Regulations and the Guidance Note.

Auditors Responsibilities

3. We have examined such Restated Summary Statements taking into consideration:

a) The terms of reference and terms of our engagement agreed with you vide our engagement letter dated March 18, 2025, requesting us to carry out the assignment, in connection with the proposed IPO of the Company;

b) The Guidance Note also requires that we comply with ethical requirements of the Code of Ethics Issued b y ICAI.

c) Concepts of test checks and materiality to obtain reasonable assurance based on the verification of evidence supporting the Restated 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.

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

a) Audited Financial Statements of the Company as at and for the year ended March 31,2025, March 31,2024 and March 31, 2023 which were prepared in accordance with the Indian Accounting Standard (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, at the relevant time, which have been approved by the Board of Directors at their meetings held on August 19, 2025, August 29, 2024 and August 31,2023 Respectively.

5. For the purpose of our examination, we have relied on:

a) Independent Auditors report issued by us, on the Ind AS Financial Statements of the Company as at and for the period ended March 31, 2025 dated August 19, 2025, on the Ind AS Financial Statements of the Company as at and for the period ended March 31,2024 dated August 29, 2024 and on the Ind AS Financial Statements of the Company as at and for the period ended March 31, 2023 dated August 31,2025.

The Ind AS and restatement adjustments made to such financial statements (referred to in 4 (a) above) to comply with Ind AS and the basis set out in Note 2 to the Restated Financial Information, have been audited by us.

6. Based on our examination and according to the information and explanations given to us, we report that Restated Summary Statements of the Company -

i. have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/reclassifications retrospectively in the financial year ended March 31, 2024 and March 31, 2023 to reflect the same accounting treatment as per the accounting policies and grouping / classifications, to the extent applicable followed as at and for the fiscal year ended March 31,2025;

ii. does not contain any qualification requiring adjustments.

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

7. These Restated Financial Information do not reflect the effects of events that occurred subsequent to the respective dates for the Ind AS Financial Statements and Audited Financial Statements mentioned in the paragraph 4 above.

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

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

10. Our report is intended solely for the use of the Board of Directors for inclusion in the RHP to be filed with SEB1, ROC and the Stock Exchanges in connection with the proposed 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.

11. We, M/s A D V & Associates, Chartered Accountants have been subjected to the peer review process of the Institute of Chartered Accountants of India (ICAI) and holds the peer review certificate dated 6 February, 2025 valid till 29 February 2028. We confirm that there is no express refusal by the peer review board of ICAI to renew the certificate and the process to renew the peer review certificate has been initiated by us.

M/s A D V & Associates

Chartered Accountants

Firm Registration No: 128045W

CA Pratik Kabra

Partner

M. No. 611401

UDIN: 25611401BMHWSY5543

Date: 27t h August, 2025

Place: Patna