Shreeji Shipping Global Ltd Auditor Reports

To,

The Board of Directors

Shreeji Shipping Global Limited

(Formerly known as Shreeji Shipping Global Private Limited) "SHREEJI HOUSE", Town Hall Circle, Jamnagar, Kalavad, Gujarat, India, 361001

Dear Sirs / Madams,

1. We have examined the attached Restated Consolidated Financial Information of Shreeji Shipping Global Limited (formerly known as Shreeji Shipping Global Private Limited) (the "Company" or the "Issuer") and its subsidiaries (the Company and its subsidiaries together referred to as the "Group"), comprising the Restated Consolidated Statement of Assets and Liabilities as at September 30, 2024, March 31, 2024, 2023 and 2022, the Restated Consolidated Statement of Profit and Loss (including other comprehensive income) for the six month period ended September 30, 2024, Fiscal 2024, 2023 and 2022, the Restated Consolidated Cash Flow Statement for the six month period ended September 30, 2024, Fiscal 2024, 2023 and 2022, the Restated Consolidated Statement of Changes in Equity and the Significant Accounting Policies, and other explanatory information

(collectively, the "Restated Consolidated Financial Information"), as approved by the Board of Directors of the Company at their meeting held on January 07, 2025 for the purpose of inclusion in the Draft Red Herring Prospectus ("DRHP"), Red Herring Prospectus ("RHP") and Prospectus to be 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 (the "ICDR Regulations"); and

c) The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of Chartered Accountants of India (the "ICAI"), as amended from time to time (the "Guidance Note") read with SEBI Communication as mentioned in Note 2.1 to the Restated Consolidated Financial Information (the "SEBI Communication"), as applicable.

2. The Companys management is responsible for the preparation of the Restated Consolidated Financial Information which have been approved by the Board of Directors for the purpose of inclusion in the DRHP, RHP and Prospectus to be filed with the Securities and Exchange Board of India ("SEBI"), NSE Limited and BSE Limited (collectively, the "Stock Exchanges") and the Registrar of Companies, Ahmedabad, Gujarat (the

"ROC"), in connection with the proposed IPO. The Restated Financial Information has been prepared by the management of the Company on the basis of preparation stated in Note 2.1 to the Restated Consolidated Financial Information.

3. The respective Board of Directors of the Companies included in the Group are responsible for designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of these Restated Consolidated Financial Information by the management of the Company, as aforesaid. The respective Board of Directors are also responsible for identifying and ensuring that the Group / Company complies with the Act, ICDR Regulations and the Guidance Note read with the SEBI Communication, as applicable.

4. We have examined such Restated Consolidated Financial Information taking into consideration: a) The terms of reference and terms of our engagement agreed upon with you in accordance with our engagement letter dated 25.11.2024 in connection with the proposed IPO of equity shares of the Issuer;

b) The Guidance Note read with the SEBI Communication, as applicable. 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 Restated Consolidated Financial Information; 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 read with the SEBI Communication, in connection with the IPO.

5. These Restated Consolidated Financial Information have been compiled by the management from:

a) The audited special purpose interim consolidated Ind AS financial statements of the Group as at and for the period ended September 30, 2024 (the "Interim Special Purpose Consolidated Ind AS Financial Statements") prepared in accordance with the basis and accounting policies mentioned in Note 2.1 to the

Restated Consolidated Financial Information, which have been approved by the Board of Directors at their meeting held on December 29, 2024;

b) The special purpose consolidated Ind AS financial statements of the Group as at and for the year ended March 31, 2024 (the "2024 Special Purpose Consolidated Ind AS Financial Statements") prepared in accordance with the basis and accounting policies mentioned in Note 2.1 to the Restated Consolidated Financial Information, which have been approved by the Board of Directors at their meeting held on December 29, 2024;

c) The special purpose consolidated Ind AS financial statements of the Group as at and for the year ended March 31, 2023 (the "2023 Special Purpose Consolidated Ind AS Financial Statements") prepared in accordance with the basis and accounting policies mentioned in Note 2.1 to the Restated Consolidated Financial Information, which have been approved by the Board of Directors at their meeting held on December 29, 2024 and

d) The special purpose Ind AS financial statements of the Company as at and for the year ended March 31, 2022 (the "2022 Special Purpose Ind AS Financial Statements") prepared in accordance with the basis and accounting policies mentioned in Note 2.1 to the Restated Consolidated Financial Information, which have been approved by the Board of Directors at their meeting held on December 29, 2024.

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

a) Auditors reports issued by us dated December 29, 2024, December 29, 2024 and December 29, 2024 on the Ind AS Consolidated Financial Statements of the Group as at and for the period ended September 30, 2024 and years ended March 31, 2024 and 2023 respectively as referred in Paragraph 5 above;

b) Auditors reports issued by us dated December 29, 2024 on the Ind AS Financial Statements of the Company as at and for the years ended March 31, 2022 as referred in Paragraph 5 above;

7. We did not audit financial statements / financial information of the subsidiary whose share of total assets, total revenues and net cash inflows included in the Consolidated Ind AS Financial Statements which have been audited by other auditors, and whose reports have been furnished to us by the Companys management and our opinion on the Consolidated Ind AS Financial Statements, in so far as it relates to the amounts and disclosures included in respect of the subsidiary is based solely on the reports of the other auditors.

(SriLankan Rupees)

Further, the subsidiary is located outside India whose financial statements and other financial information have been prepared in accordance with accounting principles generally accepted in its country and which have been audited by other auditors under generally accepted auditing standards applicable in its country. The Companys management has converted the financial statements of such subsidiary located outside India from accounting principles generally accepted in its country to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Companys management. Our opinion on the consolidated financial statements, in so far as it relates to the amounts and disclosures included in respect of such subsidiary located outside India, is based on the report of other auditors and the conversion adjustments prepared by the management of the Company and audited by us. Our opinion above on the consolidated financial statements, and our report on other legal and regulatory requirements below, are not modified in respect on the above matters with respect to our reliance on the work done by and the reports of the other auditors.

8. Based on our examination and according to the information and explanations given to us, we report that the Restated Consolidated Financial Information:

a) 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, 2024, March 31, 2023 and 2022 to reflect the same accounting treatment as per the accounting policies and grouping / classifications followed as at and for the period ended September 30, 2024, as applicable;

b) do not require any adjustment for modification as there is no modification in the underlying audit reports referred in paragraph 6 above; and

c) have been prepared in accordance with the Act, ICDR Regulations and the Guidance Note read with the SEBI Communication.

9. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Service Engagements.

10. The Restated Consolidated Financial Information do not reflect the effects of events that occurred subsequent to the respective dates of the reports on the Special Purpose Consolidated Financial Statements as at and for the period ended September 30, 2024 and years ended March 31, 2024 and 2023 and Special Purpose Financial Statements as at and for the years ended March 31, 2022 as mentioned in paragraph 5 above.

11. 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 or the Previous Auditors, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

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

13. Our report is intended solely for use of the Board of Directors for inclusion in the DRHP, RHP and Prospectus to be filed with SEBI, Stock Exchanges and ROC in connection with the proposed IPO. Our report should not be used, referred to, or distributed for any other purpose except with our prior consent in writing. 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.