Silverstorm Parks and Resorts Ltd Auditor Reports

Independent Auditors Examination Report on the Restated Financial Information of Silverstorm Parks and Resorts Limited, (Formerly known as "Silverstorm Parks and Resorts Private Limited") and (Formerly known as "Silverstorm Amusement Parks Private Limited")

To, The Board of Directors Silverstorm Parks and Resorts Limited (Formerly known as "Silverstorm Parks and Resorts Private Limited") (Formerly known as "Silverstorm Amusement Parks Private Limited") 1/77A, Ventillappara P.O Chalakudy, Thrissur Kerala - 680721

Dear Sirs,

1. We have examined the attached restated consolidated financial information of Silverstorm Parks and Resorts Limited (Formerly known as "Silverstorm Parks and Resorts Private Limited"), (Formerly known as "Silverstorm Amusement Parks Private Limited") (the "Company" or the "Issuer"), comprising of the Restated Consolidated Statement of Assets and Liabilities, the Restated Consolidated Statements of Profit and Loss, the Restated Consolidated Statement of Cash Flows as at and for the period ended September 30, 2025 and years ended March 31, 2025, March 31, 2024, and Restated Standalone Statement of Assets and Liabilities, the Restated Standalone Statements of Profit and Loss, the Restated Standalone Statement of Cash Flows as at and for the year ended March 31, 2023, Statement 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 December 26, 2025, for the purpose of inclusion in the Draft Red Herring Prospectus, Red Herring Prospectus and Prospectus (collectively known as the "Issue Document") prepared by the Company in connection with its proposed Initial Public Offer of equity shares ("SME IPO") prepared in terms of the requirements of:

i. Section 26 of the Companies Act, 2013 (the "Act") as amended from time to time;

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

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

Managements Responsibility for the Restated Financial Information

2. The preparation of the Restated Financial Information, for the purpose of inclusion in the Issue Document to be filed with Securities and Exchange Board of India (SEBI), BSE Limited and Registrar of Companies, Kerala in connection with the proposed Initial Public Offering (IPO) of the equity shares of the Company, is the responsibility of the Management and Board of Directors of the Company. The

Restated Financial Information has been prepared by the Management of the Company in accordance with the basis of preparation stated in Note II (1) to the Restated Financial Information in Annexure III. The Managements responsibility includes designing, implementing, and maintaining internal controls relevant to the preparation and presentation of the Restated Financial Information. The Management is also responsible for identifying and ensuring that the Company complies with the Act, SEBI ICDR Regulations, and the Guidance Note. The restated financial information is prepared for the purpose of inclusion in the Issue Document to be filed with the Securities and Exchange Board of India, BSE Limited, and the Registrar of Companies, Kerala in connection with the proposed SME IPO.

Auditors Responsibilities

3. We have examined such Restated Financial Information, taking into consideration:

(a) The terms of our engagement agreed upon with you in accordance with our engagement letter dated November 1, 2025, in connection with the proposed SME IPO of the Company;

(b) The Guidance Note on Reports in Company Prospectuses (Revised 2019) and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India and pursuant to the requirements of Section 26 of the Act, and the SEBI ICDR Regulations;

(c) The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India.

(d) Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Consolidated Financial Information; and

(e) 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 SME IPO.

(f) In accordance with the requirements of Part I of Chapter III of Act, including rules made therein, ICDR Regulations, Guidance Note and Engagement Letter, we report that:

4. The Restated Financial Information, approved by the Board of Directors at their meeting held on December 26, 2025, has been compiled by the Companys Management from audited financial statements of the Company as at and for the period ended September 30, 2025 and years ended March 31, 2025, March 31, 2024 and March 31, 2023 prepared in accordance with the Accounting Standards (referred to as "AS") as prescribed under Section 133 of the Act read with Companies (Accounting Standards) Rules 2021, as amended, and other accounting principles generally accepted in India.

5. We have also audited the financial information of the Company for the period ended

September 30, 2025 and years ended March 31, 2025, March 31, 2024 and March 31, 2023, prepared by the Company in accordance with the accounting standards Accounting Standards (referred to as "AS") as prescribed under Section 133 of the Act read with Companies (Accounting Standards) Rules 2021, as amended, and other accounting principles generally accepted in India. We have issued our report dated November 10, 2025, July 28, 2025, September 5, 2024, and August 10, 2023 respectively on these financial statements to the Board of Directors, who have approved these in their meeting held on November 10, 2025, July 28, 2025, September 5, 2024, and August 10, 2023 respectively.

6. There are no audit qualifications in the Audit Reports issued by us for the period ended September 30, 2025, and the years ended March 31, 2025, March 31, 2024, and March 31, 2023, which would require adjustments in these Restated Financial Statements of the Company.

7. The audit reports on consolidated financial statements of the Company as at and for the years ended March 31, 2025, and March 31, 2024, have included the following matters:

Non-maintenance of Audit Trail under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 reported in paragraph 2B(vi) of the Report under Section 143(3)(b) of the Companies Act, 2013, in the Other Legal and Regulatory Requirements section paragraph.

Opinion

8. Based on our examination and according to the information and explanations given to us for the respective periods referred to in paragraphs 4 and 6, we report that the Restated Consolidated Financial Information:

a. have been prepared in accordance with the Act, the SEBI ICDR Regulations and the Guidance Note;

b. have been prepared after incorporating adjustments in respect of changes in the accounting policies (as disclosed in Annexure III to this report), material errors, if any and regrouping/reclassifications retrospectively to reflect the same accounting treatment as per the accounting policies as at and for the period ended March 31, 2025, for all the reporting periods; and

c. There are no qualifications in the auditors reports that require any adjustments.

9. The Restated Financial Information do not reflect the effects of events that occurred subsequent to the respective dates of the reports on the special purpose financial statements of the Company mentioned in paragraph 5 above.

10. We have also examined the following Restated Financial Information of the Company, prepared by the Management and approved by the Board of Directors on December 26, 2025 for the period ended September 30, 2025, and for the years ended March 31, 2025, March 31, 2024 and March 31, 2023, proposed to be included in the Issue Document.

11. 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 Services Engagements.

12. This report should not in any way be construed as a re-issuance or re-dating of any of the previous audit reports issued by us on the financial statements of the Company for all the reporting periods.

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

14. In our opinion, the above financial information contained in Annexure I to III and Annexure V to VI of this report read with the respective Significant Accounting Polices and Notes to Restated Financial Statements as set out in Annexure IV, are prepared after making adjustments and regrouping as considered appropriate and have been prepared in accordance with the Act, SEBI ICDR Regulations and Guidance Note.

Restriction on Use

15. This report is addressed to and is provided to the Board of Directors of the Company for inclusion in the Issue Documents to be filed with the Securities and Exchange Board of India, BSE Limited and Registrar of Companies, Kerala, in connection with the proposed SME IPO and for the purpose of issuing an opinion on the Restated Consolidated Financial Information of the Company to be included in the Issue Document. Our report should not be used, referred to, or distributed for any other purpose and 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.

Yours faithfully,

For and on behalf of Krishnamoorthy & Krishnamoorthy

Chartered Accountants

K J Narayanan

Partner

Membership No.: 202844

ICAI Firm Registration Number: 001488S

UDIN: 25202844PGQVIA2220

Date: December 26, 2025