Monitoring Agency Report

Date: October 19, 2026 BSE Limited The National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, Plot No C/1, G Block PJ Towers, Dalal Street Bandra Kurla Complex Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 532784 Scrip Code: SOBHA Dear Sir/Madam(s), Sub: Monitoring Agency Report for the quarter ended September 30, 2026 Pursuant to the Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 82(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed Monitoring Agency Report for the quarter ended September 30, 2026, issued by ICRA Limited for utilisation of proceeds of Rights Issue of the Company. There is no variation / deviation in the utilisation of such funds. The aforesaid information is also being made available on the website of the Company at www.sobha.com Yours sincerely, FOR SOBHA LIMITED Bijan Kumar Dash Company Secretary & Compliance Officer Membership No. ACS 17222 Encl: As below SOBHA LIMITED Regd & Corporate Office: SOBHA Limited, Sarjapur - Marathahalli, Outer Ring Road (ORR), Devarabisanahalli, Bellandur Post, Bengaluru - 560103, Karnataka, India. CIN: L45201KA1995PLC018475 | Tel: +91 80 49320000 | www.sobha.com | Email: investors@sobha.com ICRA Insights that empower Date: October 19, 2026 Mr. Yogesh Bansal Chief Financial Officer Sobba Limited 'SOBHA",Sarjapur-Marathahalli Outer Ring Road, Bellandur Post Bengaluru, Kamataka -560103 Dear Sir, Re: Final Monitoring Agency report of Sobba Limited for Q2 FY2027 Please refer to agreement dated June 12, 2024, appointing ICRA Limited as the Monitoring Agency (MA) for Sobha Limited's Right Issue. After due consideration, ICRA has prepared the attached final Monitoring Agency report as per SEBI (Issue of Capital and Disclosure Requirements) Regulations for Q2 FY2027. Please note that the Monitoring Agency report does not constitute a commentary on the quality of the objects of the issue, appropriateness or reasonableness of costs or spending by Sobha Limited against any objects / heads or assurance on outcome of such spending. We thank you for your kind cooperation extended during the course of Q2 FY2027. Should you require any clarification, please do not hesitate to get in touch with us. We look forward to your communication and assure you of our best services. With kind regards For ICRA Limited Parul Digitally signed by Parul Goyal Goyal Narang Date: 2026.10.19 Na rang 15:06:21 +05'30' Parul Goyal Narang Vice President & Head-Process Excellence Parul.goyal@icraindia.com ICRA Limited Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel. +91-11-23357940-41 Building No. 8, 2nd floor, Tower A, DLF Cyber City, Phase II, Gurugram-122002 ®. www.icra.in @ info@icraindia.com A +91-93547-38909 I\,::, +0124-4545300 CIN: l74999Dl1991PLC042749 Sensitivity Label : Restricted September 2026 Insights that empower MONITORING AGENCY REPORT FORMAT Name of the Issuer: Sobha Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency (MA): ICRA Limited (a) Deviation from the objects of the issue: No material deviation -the utilization of the issuance proceeds is in line with the objects of the issue (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 creditrelated analyses. We confirm that we do not perceive any conflict of interest in such relationship/ interest while monitoring and reporting the utilization of the issue proceeds by the issuer. 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: Parul Digitally signed by Parul Goyal Goyal Narang Date: 2026.10.19 Narang 15:04:57 +05'30' Parul Goyal Narang Vice President & Head-Process Excellence Analyst: Arshi Naz Quality Analyst: Parul Narang Sensitivity Label : Restricted September 2026 Insights that empower 1. Issuer Details Name of the Issuer: Sobha Limited Name(s) of the promoter: Promoters Sobha Menon P N CMenon Ravi PNC Menon Source: BSE Industry/ sector to which it belongs: Realty (Residential) 2. Issue Details Issue Period: Opening date-June 28, 2024 Closing date-July 04, 2024 Type of Issue: Rights Issue Type of specified securities: Equity shares IPO Grading, if any: No credit rating agency registered with SEBI has been appointed in respect of obtaining grading for the offer. Issue Size (Rs. Crore): 1999.028 Crore With OFS portion: NA Excluding OFS portion: NA. Net Proceeds as per prospectus: 1985.972 Crore (Excluding Issue Related Expense)* *The proceeds credited to the net proceeds account stood at INR 1984.250 Crore as on 30th September 2026 as part payment has been received against the rights issue. ICRA will be monitoring INR 1984.250 Crore for Q2FY2027. Sensitivity Label : Restricted September 2026 Insights that empower 3. Details of the arrangement made to ensure the monitoring of issue proceeds Source of information, Comments of certifications the Issuer's Particulars Reply considered by the Comments of the Monitoring Agency Board of Monitoring Agency Directors for the preparation of report -Peer Reviewed CA Certificate Whether all utilization is as per -Confirmation from the disclosures in the Offer Yes management No deviation observed No Comments Document? -Bank statement of the proceeds account Whether shareholder approval has been obtained in case of As confirmed by the material deviations# from Issuer's No comments Notomments Applicable expenditures disclosed in the management Offer Document? Whether the means of finance As confirmed by the for the disclosed objects of the No No deviation observed. No comments Issuer's issue has changed? management Is there any major deviation No deviation observed over the earlier No No comments No comments observed. monitoring agency reports? Whether all Government/ statutory approvals related to As confirmed by the As understood from the Issuer's No No comments the object(s) have been Issuer's management obtained? management Whether all arrangements pertaining to technical As confirmed by the As understood from the Issuer's No No comments assistance/ collaboration are in Issuer's management operation? management Are there any favorable events As confirmed by the As understood from the Issuer's impr [Showing first 8,000 characters — download PDF for full document]