Monitoring Agency Report issued by CRISIL Ratings Limited for the quarter ended September 30, 2026

October 26, 2026 BSE Limited National Stock Exchange of India Limited P. J. Towers, Listing Department Dalal Street, Fort, Exchange Plaza, 5th Floor, Mumbai – 400 001 Plot no. C/1, G- Block, Scrip Code: 511218 Bandra-Kurla Complex, Mumbai – 400 051 NSE Symbol: SHRIRAMFIN Dear Sir/Madam, Sub.: Monitoring Agency Report for the quarter ended September 30, 2026 Re.: Regulation 32(6) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) and Regulation 162A of the Securities Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (‘ICDR Regulations’) Pursuant to Regulation 32(6) of the Listing Regulations and Regulation 162A of ICDR Regulations, please find enclosed Monitoring Agency Report for the quarter ended September 30, 2026, issued by CRISIL Ratings Limited, Monitoring Agency to monitor the utilization of proceeds of Preferential Issue of Equity Shares of the Company. The aforesaid Monitoring Agency Report has been reviewed by the Audit Committee and the Board of Directors at their meetings held on October 22, 2026 and October 23, 2026, respectively. The same will also be available on the Company’s website i.e. www.shriramfinance.in Kindly take the same on record. Thanking you, Yours faithfully, For Shriram Finance Limited U Balasundararao Company Secretary & Chief Compliance Officer Encl. a/a Shriram Finance Limited Corporate Office: Wockhardt Towers, Level -III, West Wing, C-2, G-Block, Bandra - Kurla Complex, Bandra (East), Mumbai - 400 051, Maharashtra. Ph: +91 22 4095 9595 Registered Office. Sri Towers, Plot No.14A, South Phase, Industrial Estate, Guindy, Chennai – 600 032, Tamil Nadu, India. Tel: +91 44 485 24 666 Email: secretarial@shriramfinance.in I Website: www.shriramfinance.in I Corporate Identity Number (CIN) — L65191TN1979PLC007874 Monitoring Agency Report Shriram Finance Limited for the quarter ended September 30, 2026 CRL/MAR/SHRTRAN/2026-27/1997 October 26, 2026 Shriram Finance Limited Sri Towers, Plot No.14A, South Phase, Industrial Estate, Guindy, Chennai – 600 032, Tamil Nadu, India Dear Sir, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Preferential Issue (“PI”) of Shriram Finance Limited (“the Company”) Pursuant to Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated December 19, 2025, enclosed herewith the Monitoring Agency Report, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of PI for the quarter ended September 30, 2026. Request you to kindly take the same on records. Thanking you, For and on behalf of Crisil Ratings Limited Shounak Chakravarty Director, Ratings (LCG) Report of the Monitoring Agency (MA) Name of the issuer: Shriram Finance Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: Not applicable (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 Statutory 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 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: Name and designation of the Authorized Signatory: Shounak Chakravarty Designation of Authorized person/Signing Authority: Director, Ratings (LCG) 1) Issuer Details: Name of the issuer: Shriram Finance Limited Names of the promoter: Shriram Capital Private Limited and Shriram Ownership Trust Industry/sector to which it belongs: Non-Banking Financial Company (NBFC) 2) Issue Details Issue Period: April 08, 2026 Type of issue (public/rights): Preferential Issue (PI) Type of specified securities: Equity shares IPO Grading, if any: NA Issue size: Rs 39,617.98 crore* *Crisil Ratings shall be monitoring the Issue proceeds amount. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ certifications Comments Comments of the considered by of the Particulars Reply Monitoring Monitoring Agency Board of Agency for preparation of Directors report Statutory Auditors Certificate^, Management Proceeds were Whether all utilization is as per the No Yes undertaking, Notice to utilized towards disclosures in the Offer Document? Comments Shareholders dated onward lending December 19, 2025, Bank Statements Source of information/ certifications Comments Comments of the considered by of the Particulars Reply Monitoring Monitoring Agency Board of Agency for preparation of Directors report Whether shareholder approval has been obtained in case of material deviations No NA No Comments from expenditures disclosed in the Offer Comments Document? Whether the means of finance for the disclosed objects of the issue has No No Comments Comments changed? Is there any major deviation observed over the earlier monitoring agency No No Comments Comments reports? Statutory Auditors Whether all Government/statutory Certificate^, No approvals related to the object(s) have NA No Comments Management Comments been obtained? Undertaking Whether all arrangements pertaining to technical assistance/collaboration are in NA No Comments Comments operation? Are there any favorable events No No No Comments improving the viability of these object(s)? Comments Are there any unfavorable events No No No Comments affecting the viability of the object(s)? Comments Is there any other relevant information that may materially affect the decision No No Comments Comments making of the investors? NA represents Not Applicable ^Certificate dated October 21, 2026, issued by M/s G. D. Apte & Co. LLP, Chartered Accountants (Firm Registration Number: 100515W), one of the Joint Statutory auditors of the Company. 4) Details of object(s) to be monitored: i. Cost of the object(s): Source of Comments of the Board of information/ Original cost Directors Comment certification (as per the Particulars Sr. Revised Cost of the Item Head considered by Offer Reason Proposed of firm No. (Rs in crore) Monitoring MA for Document) of [Showing first 8,000 characters — download PDF for full document]