Disclaimer

Registration and scope

Alt-Alpha Broking Private Limited ("Research Analyst" or "Research Entity") is registered with the Securities and Exchange Board of India ("SEBI") as a Research Analyst under Registration No. INH000027742 and is enlisted with the Research Analyst Administration and Supervisory Body (RAASB), BSE Limited, under Enlistment No. 7267. The Research Entity obtained its SEBI registration on June 2, 2026 and is engaged in providing research and recommendation services in accordance with the SEBI (Research Analysts) Regulations, 2014, as amended from time to time.

The primary objective of the Research Entity is to provide research-based insights, analysis, and recommendations to clients. The Research Entity endeavors to act in a fair, transparent, and professional manner and seeks to provide services that are appropriate to the investment objectives and requirements of its clients.

General disclaimer

This research report, communication, publication, recommendation, or any other material issued by the Research Entity ("Report") is provided solely for informational and educational purposes and is intended exclusively for the recipient to whom it is addressed.

The contents of this Report should not be construed as investment advice, investment solicitation, legal advice, tax advice, accounting advice, or any other form of professional advice. The Report should not be relied upon as the sole basis for making any investment decision.

The views, opinions, estimates, projections, and recommendations contained herein are general in nature and do not take into account the specific investment objectives, financial situation, risk profile, risk tolerance, or particular needs of any individual investor. Investors are advised to independently evaluate the suitability of any investment and seek advice from their financial, legal, tax or other professional advisors before making any investment decision.

Each recipient of this Report should undertake such independent investigations and analyses as they consider necessary to assess the merits, risks, and suitability of any investment referred to herein.

Basis of information

The information, opinions, estimates, and projections contained in this Report have been compiled or derived from sources believed to be reliable and obtained in good faith. However, such information has not been independently verified by the Research Entity.

Accordingly, no representation, warranty, assurance, or guarantee, express or implied, is made regarding the accuracy, adequacy, completeness, reliability, or correctness of the information contained herein. Any forward-looking statements, estimates, forecasts, or projections are based on assumptions and expectations that may differ from actual outcomes.

All information, opinions and recommendations are subject to change without prior notice. The Research Entity is under no obligation to update, revise, supplement, or otherwise notify recipients of any changes to the contents of this Report.

No offer or solicitation

Nothing contained in this Report shall constitute or be deemed to constitute:

• an offer to sell;
• an invitation to subscribe to;
• a solicitation of an offer to buy; or
• a recommendation to transact in any security or financial instrument.

This Report should not be construed as an invitation, inducement, or solicitation to enter into any business relationship or transaction with the Research Entity.

Investment risk disclosure

Investments in securities and financial instruments are subject to market risks and other risks, including the possible loss of principal invested. Past performance is not indicative of future performance.

The Research Entity does not guarantee, promise, or assure any returns, profits, capital appreciation, or protection against losses arising from any investment made based on the contents of this Report.

Any investment decision made by a recipient based on the information contained herein shall be at the sole discretion, risk, and responsibility of the recipient.

Limitation of liability

The Research Entity, its directors, employees, associates, affiliates, and representatives shall not be liable for any direct, indirect, incidental, consequential, special, or punitive loss, damage, expense, or liability whatsoever arising from:

• the use of, reliance on, or interpretation of this Report;
• any investment decision made on the basis of this Report; or
• any errors, omissions, inaccuracies, or delays in the information contained herein.

Recipients acknowledge that all investment and trading decisions are undertaken at their own risk.

Jurisdiction and distribution restrictions

This Report is intended solely for distribution and use in jurisdictions where such distribution and use are permissible under applicable laws and regulations.

This Report is not directed to, intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution, publication, availability, or use would be contrary to applicable laws, regulations, or regulatory requirements, or would subject the Research Entity to any registration, licensing, or compliance obligations within such jurisdiction.

If this Report is received by any person in a jurisdiction where its receipt, possession, or distribution is restricted or prohibited or any other restricted jurisdiction, such person should disregard the contents of this Report and immediately notify the sender.

No part of this Report may be copied, reproduced, redistributed, published, transmitted, displayed, modified, or circulated, in whole or in part, in any form or by any means, without the prior written consent of the Research Entity.

Regulatory disclaimer

SEBI registration, RAASB enlistment, and NISM certification of the Research Entity or its associated persons do not in any manner guarantee the performance of the Research Entity or provide any assurance regarding returns to investors.

Registration granted by SEBI and enlistment with RAASB merely indicate that the Research Entity has satisfied the eligibility criteria prescribed under the applicable regulatory framework.

Terms and Conditions

The Terms and Conditions governing the research services provided by the Research Entity are available on the Altcase website at https://strike.altcase.com/ and should be read in conjunction with this Disclaimer and other applicable disclosures.

Alt-Alpha Broking Private Limited · Trade Name: Altcase · Registration No.: INH000027742 · BSE Enlistment No.: 7267 · CIN: U66120MH2024PTC420267 · Registered Office: 4th Floor, Innov 8, Subhash Nagar Road, Navpada, Subhash Nagar, Vile Parle East, Mumbai, 400057 · Contact: +91 9167315915 · support@altcase.com · Compliance Officer: Madhusudhan ML · +91 9594066336 · madhu@altcase.com · Grievance Officer: Madhusudhan ML · +91 9594066336 · madhu@altcase.com

Standard Warning

"Investment in securities market are subject to market risks. Read all the related documents carefully before investing."

Disclaimers

"Registration granted by SEBI, Enlistment of BSE and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors."