Monitoring Agency Report

www.stl.tech October 23, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Plot No. C-1, G Block, Dalal Street, Bandra Kurla Complex, Bandra (East) Mumbai - 400 001. Mumbai - 400 051. Scrip ID - STLTECH Scrip Code – 532374 Sub.: Report of Monitoring Agency for the quarter ended September 30, 2026 Dear Sir/Madam, Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the report received from CARE Ratings Limited, a Monitoring Agency appointed towards utilization of proceeds through Qualified Institutional Placement for the quarter ended September 30, 2026. Kindly take this on record. Thanking you. Yours faithfully, For Sterlite Technologies Limited Mrunal Asawadekar Company Secretary & Compliance Officer Membership No.: A 24346 Enclosure: As above Sterlite Technologies Limited R egistered office: 4th Floor, Godrej Millennium, Koregaon Road 9, STS 12/1, Pune, Maharashtra- 411 001, India. CIN - L31300PN2000PLC202408 Monitoring Agency Report No. CARE/HO/GEN/2026-27/1176 The Board of Directors Sterlite Technologies Limited 4th Floor, Godrej Millennium, 9, Koregaon Road, Pune, Maharashtra-411 001 Oct 19, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended Sept 30, 2026 - in relation to the QIP issue of Sterlite Technologies Limited (“the Company”) We write in our capacity of Monitoring Agency for the QIP Issue for the amount aggregating to Rs.1500 crore of the Company and refer to our duties cast under 173A 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 Sept 30, 2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated June 18, 2026. Request you to kindly take the same on records. Thanking you, Yours faithfully, Rabin Bihani Associate Director rabin.bihani@careedge.in Report of the Monitoring Agency Name of the issuer: Sterlite Technologies Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: NIL (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: Rabin Bihani Designation of Authorized person/Signing Authority: Associate Director 1) Issuer Details: Name of the issuer : Sterlite Technologies Limited Name of the promoter : Twin Star Overseas Limited Industry/sector to which it belongs : Optical Fiber & Cable Manufacturing 2) Issue Details Issue Period : June 24, 2026 to June 30, 2026. Type of issue (public/rights) : QIP Type of specified securities : Equity Shares IPO Grading, if any : Not applicable Issue size (in crore) : Rs. 1500 crore 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Board of Monitoring Agency preparation of report Directors QIP proceeds have been utilized Whether all utilization is as per the disclosures in the Offer CA certificate*, Management certificate, Yes towards the objects mentioned in - Document? Bank Statements the offer document. Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosed in the Offer CA certificate*, Management certificate There is no material deviation. - applicable Document? Savings in issue expenses have been Whether the means of finance for the disclosed objects of the utilized for general corporate No CA certificate*, Management certificate - issue have changed? purposes as per the approval of board of the company. Is there any major deviation observed over the earlier monitoring No Not Applicable This is the first MA report - agency reports? Whether all Government/statutory approvals related to the Not CA certificate*, Management certificate - - object(s) have been obtained? applicable Whether all arrangements pertaining to technical Not CA certificate*, Management certificate - - assistance/collaboration are in operation? applicable Are there any favorable/unfavorable events affecting the viability No CA certificate*, Management certificate - - of these object(s)? Is there any other relevant information that may materially No CA certificate*, Management certificate - - affect the decision making of the investors? * CA certificate from NLA and Associates dated October 17, 2026 #Where material deviation may be defined to mean: a) Deviation in the objects or purposes for which the funds have been raised b) Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the offer documents. 4) Details of objects to be monitored: (i) Cost of objects – Source of information / Original cost Comments of the Board of Directors Comments of the Sr. Item certifications considered (as per the Offer Revised Cost Proposed Particulars of -firm Monitoring Reason for No Head by Monitoring Agency Document) in Rs. in Rs. Crore financing arrangements Agency cost revision for preparation of report Crore option made Repayment / pre-payment, in part or in full, of certain 1 outstanding borrowings availed 1,103.77 Not Applicable - - - - by the Company and certain Offer Document Subsidiaries 2 General corporate purposes 367.92 Not Applicable - - - - 3 Issue expenses 28.31 Not Applicable - - - - Total 1,500.00 (ii) Progress in the objects – Source of information Amount as Comments of the Board Amount utilised in Rs. Crore Total / certifications proposed in of Directors Sr. Item unutilised Comments of the considered by the Offer As at beginning During the At the end of Reasons Proposed No Head amount in Monitoring Agency Monitoring Agency for Document of the quarter quarter in the quarter in for idle course of Rs. crore prep [Showing first 8,000 characters — download PDF for full document]