Disclosure As Per Securities and Exchange Board of India (Research Analysts) Regulations, 2014

About the Research Analyst

I/We, Compounding Wealth Advisors LLP, is/are a SEBI Registered Research Analyst / Research Entity having SEBI Registration Number INH000019983 and BSE Enlistment Number 6514.

About the Business Activity

Compounding Wealth Advisors LLP is a SEBI-registered capital market advisory firm, registered with the Securities and Exchange Board of India (SEBI) as a Research Analyst under SEBI Registration Number INH000019983 and BSE Enlistment Number 6514.

The firm operates from its registered office at II Floor, 18, Raghuleela Mall, S.V. Road, Behind Poinsur Best Bus Depot, Kandivali (West), Mumbai – 400067, Maharashtra, India, and is incorporated as a Limited Liability Partnership under CIN: AAM-0609.

Disciplinary History

There is no disciplinary history in the name of Compounding Wealth Advisors LLP (as a Research Analyst), and there are no pending orders or outstanding litigations.

Terms And Conditions For Research Report

Details of Research Associate / Person Associated with Research Services (PARS)–

1) Name of the Research Analyst– Maulik Pandya NISM XV (Valid till August 03, 2027)

2) Principal Officer-Rakesh Pujara NISM XV (Valid till June 22, 2028)

Disclosure with regard to ownership and material conflicts of interest

• The Research Analyst / PARS or his relatives or associates do not have financial interest in the subject Company;

• The Research Analyst / PARS or his relatives or associates do not have actual/beneficial ownership

of one per cent or more securities of the subject Company, at the end of the month immediately preceding the date of publication of the research report;

• The Research Analyst / PARS or his relatives or associates do not have any other material conflict of interest at the time of publication of the research report.

Disclosure with regard to receipt of Compensation

• The Research Analyst / PARS or his associates have not received compensation from the subject

Company in the past twelve months.

• The Research Analyst / PARS or his associates have not managed or co-managed public offering of securities for the subject Company in the past twelve months.

• The Research Analyst / PARS or his associates have not received any compensation for investment

banking or merchant banking or brokerage services from the subject Company in the past twelve months.

• The Research Analyst / PARS or his associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the

subject company in the past twelve months.

• The Research Analyst / PARS or his associates have not received any compensation or other benefits from the subject Company or third party in connection with the research report.

Disclosure with regard to receipt of Compensation (For the purpose of Public appearance)

• Whether the Research Analyst/Entity or its associates have received any compensation from the subject company in the past twelve months - No

• Whether the subject company is or was a client during twelve months preceding the date of

distribution of the research report and the types of services provided - No

General Disclosure

• The Research Analyst has not served as an officer, director or employee of the subject Company.

• The Research Analyst has not been engaged in market making activity for the subject Company.

• Research Analysts or PARS do not use any AI tool(s) in providing research services.

Definitions of Terms Used

• Buy – Buy means that the stock recommended to be bought either at Market or at price or within price band mentioned in the recommendation. Stock to be bought at Market or Current Market

price (CMP) must be bought immediately or near the closing time of market at closing price. Stock with limit price order or where buying price or price band is mentioned, such stock can be bought at the price or within the price band mentioned.

• Sell / Target – Sell or target price is the price at which stock must be sold. For Stocks which have reached to their target price or trading above target price must be sold upon reaching the target price or price band mentioned.

• Hold – Hold means that a stock may be held and no exit is required. Hold recommendation is given if stock has not achieved its mentioned target or hit the mentioned stop loss price. Hold

recommendation can also be given in case if research analyst is of opinion that even after reaching the target price, the stock may go beyond target price due to change in circumstances.

• Stop loss price – Stop loss is a price at which the stock must be exited or sold due to adverse

situation or market move contrary to recommendation. When the stop loss price is reached, stock can be exited immediately or near the close of trading session at price which is near the closing

price. Second scenario is mentioned given the fact that some times the stop loss price is reached

due to intra day volatility of market but it recovers towards the end of session showing the strength of stock & in such case stock can be held. This mechanism helps the Investor from a wrong exit/

pre mature exit from stock. It must be noted, however, that if the stock is trading below/at stop loss

near the closing trading time, then it must be exited.

• CMP (Current Market Price) – The most recent price at which the stock is being recommended to be bought or sold in the market. It is also a range in which it is currently being traded.

• Index – It is a benchmark made up of selected stocks that shows how a segment of the market is

performing.

• Current Day’s Range – The highest and lowest prices a stock has touched so far during the current trading session. It helps you understand how much the price has moved in the current trading

session.

• Scrip ID – A unique identification code given to each stock by the exchange. It ensures that every company can be easily and correctly recognized while trading.

• % Change (as per last close) – The percentage increase or decrease in a stock’s price compared to its closing price from the previous day. It shows how much the stock has moved since yesterday.

• Pivot – A key reference price used by traders to understand the likely trend for the day. If the stock trades above the pivot, the sentiment is generally positive; if below, it may be negative.

• S1 / S2 / S3 (Support Levels) – Price levels where a stock tends to find buying interest, meaning the price may stop falling and could bounce back. Each level represents a deeper level of support.

• R1 / R2 / R3 (Resistance Levels) – Price levels where a stock may face selling pressure, causing the price to pause or reverse. Each level indicates a higher point where upward movement may slow

down.

• Market Cap (Market Capitalisation) – The total market value of a company’s shares, calculated by multiplying the current share price by the total number of shares issued. It helps classify companies as small-cap, mid-cap, or large-cap.

• Industry – The broader business area or sector in which the company operates, such as IT, Banking, FMCG, or Pharma. It helps investors compare companies within similar fields.

• Bias – The short-term trend or direction in which a stock or index is currently moving. It shows whether the price action on a smaller timeframe is leaning upward (positive bias), downward

(negative bias), or sideways (neutral bias).

• Event – A significant economic or financial development that can influence the market. This

includes things like interest rate decisions, inflation data, budget announcements, or major policy changes.

• Expected Impact – An estimate of how strongly an upcoming economic event may affect the markets or a particular stock. It is usually described as low, medium, or high, based on how

important the event is and how much it typically moves the market.

• Net MTD (Month-to-Date) – The total buying minus total selling done by FIIs (Foreign Institutional Investors) or DIIs (Domestic Institutional Investors) from the start of the current month up to today.

A positive number shows net buying; a negative number shows net selling. Additional Disclosure

1) Brand Name / Trade Name: Compounding Wealth Advisors LLP

2) Complete address with Telephone Numbers: II Floor, 18, Raghuleela Mall, S.V. Road, Behind Poinsur Best Bus Depot, Kandivali (West), Mumbai – 400067, Maharashtra, India

3) Membership no. of SEBI recognized supervisory body (whenever applicable)- Not applicable

4) Name of the Grievance Officer, telephone number and email address –

i. Name: Mr. Rakesh Pujara

ii. Telephone Number: +91 730 477 97768

iii. Email ID: complaints@compoundingwealh.co.in

Warning –

“Investments in securities market are subject to market risks. Read all the related documents carefully before investing”.

Disclaimer –

“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.”