Finbud Financial Services Ltd Auditor Reports

To

The Board of Directors of

Finbud Financial Services Limited

No.10, 1st floor,

6th main road,9th cross,

Jeevan Bhima Nagar,

Bangalore, Karnataka-560075.

Respected Sirs/Madams,

1. We have examined, the attached Standalone Restated Financial Statements of FINBUD FINANCIAL SERVICES LIMITED (the "Company" or the "Issuer", Formerly known as FINBUD FINANCIAL SERVICES PRIVATE LIMITED) comprising the Standalone Restated Statement of Assets and Liabilities as at July 31,2025, March 31, 2025, March 31, 2024 and March 31, 2023, the Standalone Restated Statement of Profit and Loss for the years YTD July 31, 2025, 2024-25, 2023-24 and 22-23 and the Standalone Restated Statement of Cash Flows for the period ended July 31, 2025 and for the financial year ended March 31, 2025, March 31, 2024 and March 31, 2023 and the summary of significant accounting policies and other explanatory information (collectively, the "Standalone Restated Financial Statements"), for the purpose of inclusion in the Red Herring Prospectus 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 from time to time in pursuance of provisions of Securities and Exchange Board of India Act, 1992 ("ICDR Regulations"); and

c. The Guidance Note on Reports in Company Prospectus (Revised 2019) issued by The Institute of Chartered Accountants of India ("ICAI"), as amended from time to time (the "Guidance Note").

2. The Companys Board of Directors is responsible for the preparation of the Standalone Restated Financial Statements & other financial information for the purpose above mentioned. The Board of Directors responsibility includes designing, implementing, and maintaining adequate internal control relevant to the preparation and presentation of the Standalone Restated Financial Information.

3. The Standalone Restated Financial Statements given in Annexure A have been prepared by the management of the Company as per the basis of preparation para stated in Annexure A1 & A2 to the Standalone Restated Financial Statements. The Standalone Restated Financial Statements have been

prepared by making adjustments (refer annexure A 2A) to the Audited financial statements for years ended March 31, 2023, March 31, 2024, March 31, 2025 and limited review financial statements for the period ended July 31, 2025 as prepared in accordance with accounting principles generally accepted in India at the relevant time and approved by the Company in its board meetings. The Board of Directors of the Company are responsible for designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Standalone Restated Financial Statements. The Board of Directors of the Company are also responsible for identifying and ensuring that the Company complies with the Act, the ICDR Regulations and the Guidance Note. We have also examined the following other financial information relating to the Company prepared by the management and as approved by the Board of Director of the Company and annexed to this report relating to the company for the year ended on 31 st March 2023, 31 st March 2024, 31 st March 2025 and for the period ended on 31 st July 2025 proposed to be included in the Draft Red Herring Prospectus/Red Herring Prospectus/Prospectus ("Offer Document)".

New no. 9, Old no.69, 1 st Floor, Luz Avenue 5 th Street, Mylapore, Chennai - 600 004.

4. We have examined such Standalone Restated Financial Statements taking into consideration:

a) The terms of reference and terms of our engagement agreed upon with you in accordance with our engagement letter.

b) The Guidance Note - The Guidance Note also requires that we 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 verification of evidence supporting the Standalone Restated Financial 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 proposed IPO of equity shares of the Company.

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

Audited Standalone Financial Statements for the years ended March 31, 2023, March 31, 2024, March 31, 2025 and limited review financial statements for the period ended July 31, 2025 that have been audited by BBSK and Associates, Chartered accountants and accordingly reliance has been placed on the financial information examined by them for the said years. The Financial Report included for these years is based solely on the report submitted by them. We have carried out re-audit for the year ended March 31, 2023, March 31, 2024, March 31, 2025 and for the period ended July 31, 2025 as required by SEBI regulations.

6. Based on our examination and according to the information and explanations given to us, we report that the Standalone Restated Financial Statements have been prepared after incorporating adjustments for:

a) the changes, if any, in accounting policies retrospectively in respective financial years to reflect the same accounting treatment as per the changed accounting policy for all the reporting years;

b) prior period and other material amount in the respective financial years to which they relate;

c) extra-ordinary items, if any, that needs to be disclosed separately in the accounts requiring adjustments;

d) qualifications in the Audit Reports issued by Statutory Auditor, however, there were no qualification in the Audit Reports issued by Statutory Auditor for the years ended March 31, 2023, March 31, 2024 and March 31,2025 and for the period ended July 31, 2025; and

7. The Standalone Restated Financial Statements do not reflect the effects of events that occurred subsequent to the respective dates of the reports on the audited financial statements mentioned in paragraph 3 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 and other auditors, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

9. We, B B S K and Associates, Chartered Accountants have been subjected to the peer review process of The Institute of Chartered Accountants of India ("ICAI") and hold a valid Certificate No. 016871 dated 11 -05- 2024 issued by the "Peer Review Board" of the ICAI.

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

11. Our report is intended solely for use of the Board of Directors for the purpose of inclusion in the Red Herring Prospectus. 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 without our prior consent in writing.

For B B S K and Associates

Chartered Accountants Firm Registration No.: 013313S

Baladasan Bharathi

Partner

Membership No.: 214061 UDIN: 25214061BMLGEY5037 Place: Chennai Date: 07-Oct-2025

Annexure A - Restated Standalone Financial Statement FINBUD FINANCIAL SERVICES LIMITED (CIN: U67190KA2012PLC064767)