<img src="/media/Some Folder/EX-IMG.ashx" alt="Example" />
Ignoring the spaces, non-descriptive filename, and capitals (likely to break and/or cause duplicate content issues), does that URI with
.ashx pose a problem?
Is using the correct image file format a ranking factor in organic search for the page that the image appears on, or is having a decent alt attribute enough?
(Note, it is not necessary to have this image rank in Google Images, but inform spiders that it is relevant and contextual media related to the text content on the page.)