ASTL | Amreli Steels Limited Auditors Certificate

Tel: +92 21 3568 3030

Fax: +92 21 3568 4239

https://www.bdo.com.pk

2nd Floor, Block-C

Lakson Square, Buildin• No.1 Sarwar Shaheed Road Karachi-74200

Pakistan

Chief Executive Officer, Amreli Steels Limited, A-18, SITE, Karachi.

December 09, 2025 AA-2295/25

CERTIFICATE ON RECEIPT OF SUBSCRIPTION MONEY AND REVISED PAID UP CAPITAL

Dear Sir,

We have been requested to provide you with a certificate on the receipt of subscription money and revised paid up capital of the Amreli Steels Limited ("the Company") after further issue of 40,000,000 shares.

Scope of certificate

The engagement is to provide the certificate on the receipt of subscription money and revised paid-up capital of the Company.

Management responsibility

It is the responsibility of the Company's management to ensure that the aggregate subscription amount received is properly recorded in the books and records of the Company and to comply with all the legal requirements in this respect.

Auditor's responsibility

Our responsibility is to certify the receipt of subscription money in accordance with the 'Guidelines for issue of Certificate for Special Purposes by Practicing Chartered Accountant Firms' issued by the Institute of Chartered Accountants of Pakistan. Our verification was limited to the procedures as mentioned below:

1. Reviewed the approval of Security and Exchange Commission of Pakistan for confirmation of amount of subscription money;

2. Traced from the bank statement the amount of subscription received against the issue of shares by the Company;

3. Re-calculated the revised paid-up capital.

4. Inquired with the management of the Company that all the requirements with regards to allotment of securities in the name of CDC have been fulfilled by the Company.

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BDO Ebrahim & Co. Chartered Accountants

BDO Ebrahim 6 Co. , a Pakis tan registered par tnershp f rm , is a member of BDO Internat:ional Limited, a UK company timited by guaran tee, and forms part of the international BDO network of independen I member frms.

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Certificate

Based on the procedures mentioned above, we certify that as per the bank statement and other supporting records of the Company, an aggregate amount of Rs. 1,000,000,000 has been received by the Company on November 14, 2025 against issuance of shares at a price of Rs. 25/- per share comprising of a face value of Rs. 10/- each and premium of Rs. 15 per share. Consequently, currently revised issued, subscribed and paid up capital of the Company after issue of 40,000,000 ordinary shares will be as follows:

Further, we were represented by the management that all the requirements with regards to allotment of securities in the name of CDC have been fulfilled by the Company.

Restriction on use and distribution

This letter is being issued in the capacity of the statutory auditor of the Company and on the specific request of the management of the Company for onward submission to the regulatory authorities.

Accordingly, this is not to be used or distributed for any other purposes. This certificate is restricted to the facts herein.

Yours truly,

BDO EBRAHIM 6 CO.

Chartered Accountants

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