Allotment of Shares under Employees Stock Option Scheme

Service Global Footwear Limited

Servis House, 2-Main Gulberg Lahore-54662 (Pakistan) Phone: (42) 35751990-96

Fax: (42) 35711827

SGFL/PSX/CS/59 July 24, 2025

The General Manager,

Pakistan Stock Exchange Limited, Stock Exchange Building,

Stock Exchange Road,

SUBJECT: ALLOTMENT OF SHARES UNDER EMPLOYEES STOCK OPTION SCHEME

Dear Sir,

This is to inform you that 411,205 ordinary shares of Service Global Footwear Limited (the "Company") have been credited on July 23, 2025 in respective accounts of eligible employees who have exercise their options under the Employees Stock Option Scheme ("ESOS") approved by the Securities & Exchange Commission of Pakistan.

The revised paid-up capital of the Company after above allotment of shares is Rs. 2,064,676,050 divided into 206,467,605 ordinary shares of Rs. 10 each.

You may please inform the TRE Certificate Holders of the Exchange and all concerned accordingly. Yours truly,

For SERVICE GLOBAL FOOTWEAR LIMITED

Waheed A hraf Company Secretary

Riaz Ahmad & Company

Chartered Accountants

Board of Directors

Service Global Footwear Limited Servis House, 2-Main Gulberg LAHORE

Lady and Gentlemen

10-B, Saint Nary Park

Main Boulevard, Gulberg-III Lahore 54660, Pakistan

T: +92 (42) 3571 81 37-9

racolhr(&racopk.com https://www.racopk.com

23 July 2025

Our ref: G-1-352

CERTIFICATE ON ISSUE OF SHARE CAPITAL AS REQUIRED UNDER CEILTRAL DEPOSITORY SYSTEM - STANDARD OPERATING PROCEDURES OF CENTRAL DEPOSITORY COMPANY OF PAKISTAN LIMITED

We have been requested to provide you with a certificate on issue of shares under Employees Stock Option Scheme, 2020 (ESOS) by Service Global Footwear Limited (the Company) as required under Central Depository System - Standard Operating Procedures (SOPs) of Central Depository Company of Pakistan Limited (CDC).

Scope of Certificate

We as statutory auditors of the Company have been requested to issue a certificate confirming receipt of subscription money amounting to Rupees 13,959,930 against subscription of 411,205 number of shares under Employees Stock Option Scheme, 2020 for onward submission to CDC and Pakistan Stock Exchange Limited (PSX).

Management Responsibility

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

Auditors' Responsibility

Our responsibility is to certify the compliance with the SOPs with regards to allotment of shares in the name of CDC in accordance with the 'Guidelines for issue of Certificates for Special Purposes by Practicing Chartered Accountant Firms' issued by the Institute of Chartered Accountants of Pakistan.

Our verification was limited to the procedures mentioned below:

A

b f

International

1. Obtained the letter No. CLD/CCD/CA.83/16/2020 dated 25 November 2020 and checked that Employees Stock Option Scheme, 2020 has been approved by Securities and Exchange Commission of Pakistan.

2. Obtained certified true copy of the Employees Stock Option Schemes, 2020 of Service Global Footwear Limited.

3. Obtained the minutes of extraordinary general meeting held on 23 October 2020 and checked that shareholders of the Company have approved and authorized issuance of ordinary shares of Rupees 10 each to the eligible employees under Employees Stock Option Scheme, 2020 subject to necessary approvals.

4. Obtained the bank statements of Standard Chartered Bank (Pakistan) Limited -Account No. 01736048101 and Habib Bank Limited - Account No. 12427950079003 and checked the receipt of subscription money amounting to Rupees 4,217,250 against subscription of 140,575 ordinary shares of the Company at exercise price of Rupees 30 per share and subscription money amounting to Rupees 9,742,680 against 270,630 ordinary shares of the Company at exercise price of Rupees 36 per share under Employees Stock Option Scheme, 2020 from eligible employees. Also checked that 35,675 options exercisable at Rupees 30 per share and 36,201 options exercisable at Rupees 36 per share have been lapsed in accordance with Clause 8 of the Scheme.

5. Reviewing compliance with the SOPs and reporting non-compliance, if any.

6. Confirming the revised paid-up capital / total issue after issue of shares under Employees Stock Option Scheme, 2020.

Certificate

Based on the procedures mentioned above, we are pleased to certify that as per the books and records of the Company, an aggregate subscription amount of Rupees 13,959,930 has been received by the Company by 30 June 2025, as approved and envisaged in the approved Employees Stock Option Scheme, 2020 of the Company. The paid-up capital of the Company after taking into account further issue of shares would be as follows:

Issued and subscribed shares

of the Company

Number Number Number

206,056,400 411,205 206,467,605

We state that all the requirements as mentioned in this letter with regards to allotment of shares in the name of CDC have been fulfilled by the Company. Further, we have obtained representation from the Company that no special conditions have been imposed by the Securities and Exchange Commission of Pakistan (SECP) relating to the Scheme.

Restriction on use and distribution

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

Very truly yours