Monitoring Agency Report

Steel Exchange India Limited September 16, 2026 To To The Manager, The Manager, Department of Corporate Services, Listing Department, BSE Limited National Stock Exchange of India Limited, P.J. Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Port, Mumbai — 400001 Bandra (East), Mumbai — 400051 Scrip Code: 534748/960441 Scrip ID: STEELXIND Sub: Monitoring Agency Report for the quarter ended June 30, 2026. Dear Sir/Ma’am, Pursuant to Regulation 162A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 read with Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), enclosed herewith is the Monitoring Agency Report dated September 15, 2026, issued by Infomerics Valuation and Rating Limited with respect to the utilisation of proceeds received by the Company pursuant to the preferential issue of convertible warrants. As stated in the Monitoring Agency Report, the proceeds received from the preferential issue of convertible warrants have been fully utilised by the Company for the purposes specified in the offer documents. This is for your information and records. Thanking you, Yours faithfully, For Steel Exchange India Limited Raveendra Babu M Company Secretary & Compliance Officer M.No: A34409 WORKS Integrated Steel Plant: Sreerampuram, L.Kota Mandal, Vizianagaram District - 535161. Phone: +91-8966-267218, 267111 Infomeics RcNings SEBIREGISTEREDInaACCREDITED/nsuc EMPANELLEDCREDURATINGAGENCY Monitoring Agency Report for Steel Exchange India Limited for the quarter ended June 30, 2026 lrlfomefics RcNings SEBIREGISTEREDInaACCREDITED/nsuc EMPANELLEDCREDURATINGAGENCY Monitoring Agency Report September 15, 2026 Steel Exchange India Limited 1-65/K/60, PlotNo.60, Abhi'sHiranya, Kavuri Hills Hyderabad, Telangana - 500081 Dear Sir, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Preferential issue of Steel Exchange India Limited ("TheCompany") We write in our capacity of Monitoring Agency for the Preferential issue for the amount aggregating to Rs. 341.58 crore of the Company and refer to our duties cast under 162A of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations). In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June 30, 2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated 18th April 2026. Request you to kindly take the same on records. Thanking you, For and on behalf of Infomerics Valuation and Rating Limited GAURAV Digitally signed by GAURAV NAVEEN JAIN Date: 2026.09.15 19:02:58 NAVEEN JAIN +05'30' Gaurav Jain (Director - Ratings) gaurav.jain@infomerics.com I RcNings SEBIREGISTEREDInaACCREDITED/nsuc EMPANELLEDCREDURATINGAGENCY Report of the Monitoring Agency Name of the Issuer: Steel Exchange India Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Infomerics Valuation and Rating Limited (a) Deviation from the objects: Nil (b) Range of Deviation: Nil Indicate range of percentage deviation from the amount of issue proceeds earmarked for objects. For example, up to 10%, 10 25%, 25-50%, 50-75%, 75-100%, not ascertainable etc. * Range of Deviation may be computed by taking weighted average of financial deviation of each object in the ratio of issue proceeds allocated for it. Non-financial deviation may be indicated separately by way of notes. Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit-related analyses. Infomeics RcNings SEBIREGISTEREDInaACCREDITED/nsuc EMPANELLEDCREDURATINGAGENCY We declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer. We further declare that this report provides true and fair view of the utilization of issue proceeds. Digitally signed by GAURAV GAURAV NAVEEN JAIN Date: 2026.09.15 19:03:38 NAVEEN JAIN +05'30' Signature: Name of the Authorized Person/Signing Authority: Gaurav Jain Designation of Authorized person/Signing Authority: Director - Ratings Seal of the Monitoring Agency: Date: September 15, 2026 s(:)s I Rohngs SiBIREGITTERED/nmAccnsurrzn/nslc wmnzuzoCREDURATINGAGENCY 1) Issuer Details: Name of the issuer: Steel Exchange India Limited (SEIL) Names of the promoters of the issuer: Vizag Profiles Private Limited, Umashiv Garments Private Limited and Suresh Kumar Bandi Industry/sector to which it belongs: Engaged in manufacturing sponge iron, billets TMT bars. 2) Issue Details: Issue Period: 18th April 2026 to 30th April 2026 Type of issue: Preferential Issue Type of specified securities: Fully convertible share warrants Grading: NA Issue size (Rs in Crores): Rs. 341.58 crore Particulars Remarks Amount(in Rs. crone) Approved byEGM Totalsharewarrantstobeissued 36,14,60,300 341.58 Total 36,14,60,300 341.58 Detailsofexpensestobeincurred NetProceedstobe received 341.58 Current Status Totalwarrants issuedandsubscribedaspartofPreferentialIssue 36,14,60,300 341.58 Warrants 2500ShareApplicationmoney(still outstandingtobe exercised within 36,14,60,300 85.39 18 monthsfromthedateofallotment(Depositamountreceived) TotalWarrantsconvertedinto sharesduringtheperiod(Fullypaidup) Funds receivedfromwarrantholders duringQ1FY27 55.50 Detailsofexpensesincurredrelatedtoissue NetProceedsreceipt 140.89 s(:)s Infomerics Rohngs SiBIREGITTERED/nmAccnsurrzn/nslc ¥MPANEI.l£DCREDFIRATINGAGENCY 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Particulars Reply Sourceofinformation/ CommentsofMonitoring Commentsof certificationsconsidered by Agency Boardof MonitoringAgencyfor Directors preparationofreport Whetheralltheutilizationisasperdisclosurein Yes,theutilization BankStatements, CA NoComments NoComments Offer has beenmadeas Certificate**,Noticeof Document? perOffer EOGM*, Invoices,Ledgers, Document. PurchaseOrder,Management declaration WhetherShareholderapprovalisobtainedincase Thereareno Notapplicable Notapplicable NoComments ofmaterialdeviationsfromexpenditures deviationsfromthe disclosedinOffer expenditures Document? disclosedinthe OfferDocument. Hencenoapproval isrequired Whethermeansoffinancefordisclosedobjectsof Thereisnochange Notapplicable No NoComments the Issuehaschanged? inthemeansof financefor disclosedobjects Anymajordeviationobservedovertheearlier No Notapplicable No NoComments monitoringagencyreports? WhetherallGovernment Statutoryapprovals Yes PrincipalapprovalfromBSEand NoComments NoComments relatedtotheobject(s)obtained? NSE s(:)s I [Showing first 8,000 characters — download PDF for full document]