AVN | Avanceon Limited Auditors Certificate

January 20, 2026 Ref. No. P/25692/26

Ahsan Khalil Company Secretary Avanceon Limited

The Avanceon Building, 19-Km, Main Multan Road,

Lahore.

https://www.crowe.pk

Dear Sir,

We have been requested by the management of Avanceon Limited (the Company) to provide a certificate "'

on further issue of shares other than right shares under the Employees Share Option Scheme, 2022 (ESOS -2022) by Avanceon Limited (the Company) as required under the Central Depository System - Standard Operating Procedures (SOPs), (Annexure B of Sr. No. 4 of Chapter 2).

Scope of certificate

This certificate is issued in accordance with the "Guidelines for the Auditors' Certificate" of Central Depository System -Standard Operating Procedures (SOPs), (Annexure B of Sr. No. 4 of Chapter 2) for further issue of shares other than rights against cash.

Management's responsibility

It is the management's responsibility to ensure the compliance with all requirements with regards to the allotment of securities in the name of CDC. The management's responsibilities include maintaining adequate records of the options granted, options exercised, shares issued against exercise of share options, compliance with SOPs, report if there is any non-compliance, prevention and detection of fraud and irregularities. This certification does not relieve the management of its responsibilities.

Our responsibility is to certify that the information provided is in compliance with all requirements with regards to the allotment of securities in the name of CDC 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 (ICAP). Our verification was limited to the procedures mentioned below:

1. Checked and confirmed total issued/paid-up capital before the issuance of shares from the certified true copy of Form-03 of the Company;

2. Obtained and reviewed the Special Resolutions by the members of the Company regarding the approval of the Employees Share Option Scheme, 2022 (ESOS - 2022);

3. Obtained and reviewed the certified true copy of the Employees Share Option Scheme, 2022 (ESOS

   - 2022) of the Company;

   Crowe Hussain Chaudhury & Co. is a member of Crowe Global, a Swiss Verein.Each member Firm of Crowe Global is a Separate and independent legal entity.Crowe Hussain Chaudhury & Co.and its affiliates are not responsible or liable For any acts or omission of Crowe global or any other member of Crowe Global. Crowe Global does note render any Professional Services and dost not have an Ownership or Partnership interest in Crowe Hussaian Chaudhury & Co.

   ©2026 Crowe Hussain Chaudhury & Co.

   
   
   
   
   

   � Crowe

4. Obtained and reviewed the Resolutions of the Human Resource and Remuneration Committee of the Board of Directors of the Company regarding the approval to issue shares under the Employees Share Option Scheme, 2022 (ESOS - 2022);

5. Obtained and reviewed the copy of the bank statement to verify the receipt of subscription money;

6. Reviewed compliance with the SOPs and reporting non-compliance, if any;

7. Obtained and reviewed the Management Representation Letter regarding the revised paid-up capital of the Company.

   Certificate

   Based on the procedures mentioned above, we certify that: -

   • The revised paid-up capital of the Company after the issuance of shares pursuant to further issue of shares other than rights under the Employees Share Option Scheme, 2022 (ESOS - 2022) would be as follows:

     No. of Shares	Face Value (Rupees)	Amount (Rupees)
     422,408,878	Rs. 10/- each	4,224,088,780
     5,066,578	Rs. 10/- each	50,665,780
     427,475,456	Rs. 10/- each	4,274,754,560

     Particulars

     Paid-up capital of the Company before issuance of shares under ESOS - 2022

     Shares of the Company issued under ESOS -2022

     Revised paid-up capital of the Company after issuance of shares under ESOS - 2022

   • All the requirements with regards to the allotment of Securities in the name of CDC, as mentioned in CDS - Standard Operating Procedures (SOPs) (Sr. No. 4 of Chapter 2) have been fulfilled by the Company.

   • The conditions (if any) imposed by the regulatory body have been fulfilled by the Issuer in every respect.

Restriction on use and distribution

This certificate is being issued in the capacity of statutory auditors of the Company and on the specific request of the management for onward submission to CDC, Securities and Exchange Commission of Pakistan (SECP) and Pakistan Stock Exchange Limited (PSX). Accordingly, this should not be distributed to any other third party without our prior written consent. This certificate is restricted to the facts stated herein and shall not be presented as testimony in any court of law.