Jayesh Logistics Ltd Auditor Reports

Examiner Report of Independent Auditor on the Restated Statement of Assets and Liabilities as on June 30, 2025, March 31, 2025, March 31, 2024 and March 31, 2023 , the Restated Statement of Profit and Loss and the Restated Statement of Cash Flows for the three months period ended June 30, 2025 and for the years ended March 31, 2025, March 31, 2024 and March 31, 2023 along with the Restated Statement of Significant Accounting Policies and other explanatory information of JAYESH LOGISTICS LIMITED (Formerly known as JAYESH LOGISTICS PRIVATE LIMITED) and in the periods applicable (hereinafter collectively, the "Restated Financial Statements").

The Board of Directors

JAYESH LOGISTICS LIMITED

1 Crooked Lane, 3rd Floor,

Room no. 322, Kolkata ?€“ 700 069, West Bengal, India.

Dear Sirs/ Madams,

We GGPS & Associates, Chartered Accountants ("we" or "us") have examined the attached Restated Financial Statements of JAYESH LOGISTICS LIMITED (Formerly known as JAYESH LOGISTICS PRIVATE LIMITED) (the "Company") as approved by the Board of Directors of the Company at their meeting held on October 10, 2025 for the purpose of inclusion in the Red Herring Prospectus/Prospectus ("RHP/Prospectus") prepared by the Company in connection with its proposed Initial Public Offer of equity shares ("IPO") prepared in terms of the requirements of:

The Sub-section (1) of Section 26 of Part I of Chapter III of the Companies Act, 2013 (the "Act");

The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "SEBI ICDR Regulations"); and

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

Managements Responsibility for the Restated Financial Statements

The Companys Board of Directors is responsible for the preparation of Restated Financial Statements for the purpose of inclusion in the offer documents in connection with the proposed IPO. The Restated Financial Statements have been prepared by the management of the Company in accordance with the basis of preparation stated in Note 1 to the Restated Financial Statements. The responsibility of Board of Directors of the Company includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Financial Information. The Board of Directors are also responsible for identifying and ensuring that the Company complies with the Companies Act, the SEBI ICDR Regulations and the Guidance Note.

Auditors Responsibilities

We have examined the Restated Financial Statements taking into consideration:

The terms of reference and terms of our engagement agreed upon with Company in accordance with our engagement letter dated September 15, 2024, in connection with the proposed IPO of the equity shares of the Company.

The Guidance Note, which also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI.

The concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Financial Information; and

Requirements of Section 26 of the Act and the SEBI ICDR Regulations.

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

These Restated Financial Information have been compiled by the Management from:

Audited Financial Statements of the Company for the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023 prepared in accordance with Accounting Standards as prescribed under Section 133 of the Act, read with Companies (Indian Accounting Standards) Rules 2015, as amended," ?€“ after Accounting Standard and other accounting principles generally accepted in India, (the " Audited Financial Statements"), which have been approved by the Board of Directors at their meetings held on August 23, 2025, September 07, 2024 and September 05, 2023 respectively. Further we have relied on the management certified financial statements for the three months period ended June 30, 2025.

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

Independent Auditors report issued by us on the Financial Statements of the Company as at March 31 2025 and " M/s S A K S & CO. " Chartered Accountants ("Firm") on the Financial Statements of the Company as at March 31, 2024 and March 31, 2023 respectively as referred in Para 4(a) above.

Based on the above and according to the information and explanations given to us, we report that:

The Restated Financial Statements have been prepared after incorporating adjustments for the changes in accounting policies, any material errors and regroupings/ reclassifications retrospectively for the three months period ended June 30, 2025 and for the years ended March 31, 2025, March 31, 2024 and March 31, 2023 to reflect the same accounting treatment as per the accounting policies and grouping/classifications.

There are no qualifications in the auditors reports on the Audited Financial Statements

as at and for the years ended March 31, 2025, March 31, 2024 and March 31, 2023 which require any adjustments to the Restated Financial Statements and

The Restated Financial Statements have been prepared in accordance with the Act including the rules made there under, the SEBI ICDR Regulations, the Guidance Note and engagement letter.

We complied with the relevant applicable requirements of the Standard in Quality Control (SQC) 1, Quality Control for Firms that perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements.

The 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 4 above.

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

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

Our report is intended solely for use of the Board of Directors and for inclusion in the RHP/Prospectus to be filed with the Securities and Exchange Board of India, SME platform of BSE Limited and Registrar of Companies, Kolkata, West Bengal, as applicable in connection with the proposed IPO of equity shares of the Company. Our report should not be used, referred to or distributed for any other purpose without prior consent in writing. Accordingly, we do not accept or assume any liability or any duty of care towards any other person to whom this report is shown or into whose hands it may come without our prior consent in writing.

For M/s GGPS And Associates

Chartered Accountants

Firm Registration No. 032345N Sd/-

Tarun Periwal

Partner

Membership No. 447670 UDIN: 25447670BMIDXZ8900

Place: Bikaner

Date: October 10, 2025