Disclosure under Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Monitoring Agency Report

Date: 22nd July, 2026 To, To, National Stock Exchange of India Limited (“NSE”) BSE Limited (“BSE”) Listing Department Listing Department Exchange Plaza, C-1 Block G, Bandra Kurla Corporate Relationship Department C omplex Bandra [E], Mumbai – 400051 Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 NSE Scrip Symbol: SMARTWORKS BSE Scrip Code: 544447 ISIN: INE0NAZ01010 ISIN: INE0NAZ01010 Subject: Disclosure under Regulation 32 (6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015- Monitoring Agency Report Dear Sir/Ma’am, Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41(4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith Monitoring Agency Report for the quarter ended June 30, 2026, issued by CARE Ratings Limited, duly reviewed and taken on record by the Audit Committee of the Company The above information is also available on the website of the Company at https://www.smartworksoffice.com/investors/. This is for your information and records. For Smartworks Coworking Spaces Limited Punam Dargar Company Secretary & Compliance Officer Membership No.: A56987 Address: Unit No. 305-310, Plot No 9, 10 & 11 Vardhman Trade Centre Nehru Place, South Delhi, Delhi, Delhi, India, 110019 Encl.: As above Smartworks Coworking Spaces Limited (Formerly known as Smartworks Coworking Spaces Private Limited) Regd. Office: Unit No. 305 – 310, Plot No. 9,10, & 11, Vardhman Trade Centre, Nehru Place, South Delhi – 110 019. Corporate Office: DLF Commercial Building, Block - 3, Zone-6, DLF Phase – 5, Gurugram, Haryana-122002 Phone No: 0124-6919 400 CIN: L74900DL2015PLC310656 No. CARE/KRO/GEN/2026-27/1049 The Board of Directors Smartworks Coworking Spaces Limited UNIT NO. 305-310, PLOT NO 9, 10 & 11 Vardhman Trade Centre, Nehru, Delhi Uttar Pradesh, 110019 India July 22, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the IPO of Smartworks Coworking Spaces Limited (“the Company”) We write in our capacity of Monitoring Agency for the IPO Issue for the gross amount aggregating to Rs. 445.00 crore of the Company and refer to our duties cast under Regulation 41 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) 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 July 04, 2025. Request you to kindly take the same on records. Thanking you, Yours faithfully, Kamal Mahipal Associate Director Kamal.Mahipal@careedge.in CARE Ratings Limited Unit No. A/7/4, 7th Floor Block A, Apeejay House, 4th Floor, Godrej Coliseum, Somaiya Hospital 15 Park Street, Kolkata – 700016 Road, Off Eastern Express Highway, Sion (East), Phone: +91-33-4018 1600/2283 1803 Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Report of the Monitoring Agency Name of the issuer: Smartworks Coworking Spaces Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: No (b) Range of Deviation: Not Applicable 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. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Name and designation of the Authorized Signatory: Kamal Mahipal Designation of Authorized person/Signing Authority: Associate Director CARE Ratings Limited Unit No. A/7/4, 7th Floor Block A, Apeejay House, 4th Floor, Godrej Coliseum, Somaiya Hospital 15 Park Street, Kolkata – 700016 Road, Off Eastern Express Highway, Sion (East), Phone: +91-33-4018 1600/2283 1803 Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 1) Issuer Details: Name of the issuer : Smartworks Coworking Spaces Limited Name of the promoter : Neetish Sarda, Harsh Binani, Saumya Binani, NS Niketan LLP, Sns Infrarealty LLP and Aryadeep Realestates Private Limited. Industry/sector to which it belongs : Real Estate Related Services 2) Issue Details Issue Period : July 10, 2025, to July 14, 2025 Type of issue (public/rights) : Initial Public Offer Type of specified securities : Equity IPO Grading, if any : Not Applicable Issue size (in crore) : Rs 445.00 crore 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications considered by Comments of the Comments of the Particulars Reply Monitoring Agency for Monitoring Agency Board of Directors preparation of report* Offer document, Statutory The utilization of the Auditor’s Certificate*, proceeds in Q1FY27 is in line Whether all utilization is as per the disclosures in the Offer Document? Yes NA Management’s Declaration, Bank with the Offer Document. Statements. Whether shareholder approval has been obtained in case of material Not Applicable Management’s Declaration Not Applicable NA deviations# from expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the issue No Management’s Declaration Not Applicable NA have changed? Management’s Declaration and Is there any major deviation observed over the earlier monitoring No previous Monitoring Agency Report Not Applicable NA agency reports? of Q4FY26 dated April 30, 2026. Whether all Government/statutory approvals related to the object(s) Not Applicable Management’s Declaration Not Applicable NA have been obtained? Whether all arrangements pertaining to technical Not Applicable Management’s Declaration Not Applicable NA assistance/collaboration are in operation? Are there any favorable/unfavorable events affecting the viability of No Management’s Declaration Not Applicable NA these object(s)? Is there any other relevant information that may materially affect the No Managem [Showing first 8,000 characters — download PDF for full document]