Monitoring Agency Report

October 26, 2026 Listing Compliance Department Listing Compliance Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C/1. G Block, Dalal Street, Bandra -Kurla Complex, Bandra (East), Mumbai - 400 001. Mumbai- 400051. Scrip Code: 543280 Scrip Symbol: NAZARA Dear Sir/Madam, Subject: Monitoring Agency Report(s) for the quarter ended on September 30, 2026 With reference to the above subject, pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with Regulation 162A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”), we are enclosing the Monitoring Agency Report(s) of the Company for the quarter ended September 30, 2026, issued by ICRA Limited, the Monitoring Agency, appointed by the Company to monitor the utilisation of proceeds raised through the issuance and allotment of 50,00,000 fully paid-up Equity Shares of the Company having face value of ₹ 4/- each at a price of ₹ 990/- (including a premium of ₹ 986/-) per equity share, by way of Preferential Issue under Chapter V of SEBI ICDR Regulations. You are requested to take the same on record. Thanking you. Yours faithfully, For Nazara Technologies Limited Arun Bhandari Company Secretary and Compliance Officer Encl. As above ICRA Limited Date:October26, 2026 Mr. Arun Bhandari Company Secretary Nazara Technologies Limited 11th Floor Avighna House, Dr Annie Besant Road, Worli Naka Mumbai 400018 DearSir, Re: Final Monitoring Agency report of Nazara Technologies Limitedfor Q2FY2027 Please refer to agreement dated January 29, 2025, appointing ICRA Limited as the Monitoring Agency (MA) After due consideration, ICRA has prepared the attached final Monitoring Agency report as per SEBI (Issue of Capital and Disclosure Requirements) Regulations for Q2FY2027. 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 Nazara Technologies 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 Goyal Narang Vice President & Head-Process Excellence Parul.goyal@icraindia.com Sensitivity Label : Confidential September2026 MONITORING AGENCYREPORT FORMAT Name of the Issuer:Nazara Technologies Limited For the Quarter ended: September30, 2026. Name of the Monitoring Agency(MA):ICRA Limited (a) Deviation from the objects of the issue: No deviation -the utilization of the issuance proceeds is in line with the objects of the issue. (b) Range of deviation: No deviation Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects ofthe 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 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 Signature: Parul Goyal Narang Vice President & Head-Process Excellence Analyst: Subhechha Banerjee Quality Analyst: Parul Narang Sensitivity Label : Confidential September2026 1. Issuer Details Name of the Issuer:Nazara Technologies Limited Name(s) of the promoter: Promoters Nitish Mittersain Vikash Mittersain Mitter Infotech LLP Plutus Wealth Management LLP Axana Estates LLP Source: BSE Industry/ sector to which it belongs: - Software. 2. Issue Details Issue Period: Opening Date: NA Closing Date: NA Type of Issue: Preferential Issue Type of specified securities:Preferentialissue of Equity Shares IPO Grading, if any:Not Applicable Issue Size (Rs. Crore): Issue Size: INR 495.00 crores (50,00,000 fully paid-up Equity Shares of INR 990.00 each including premium of INR986.00each) With OFS portion:Not Applicable. Excluding OFS portion:Not Applicable Gross Proceeds:INR 495.00Crore. Note:Issue related expenses incurred till Q2FY27areINR 0.38Crore. ICRA will be monitoring the Proceeds of INR 495.00 Crore. Sensitivity Label : Confidential September2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds Source of information, Comments of certifications considered by Comments of the Monitoring Particulars Reply the Monitoring Agency for Agency Board of the preparation of report Directors -Peer reviewed CA Certificate -Confirmation from Whether all utilization is as per management the disclosures in the Offer Yes -Bank Statement No deviation observed Document? -Offer Letter -Notice of EOGM held on February13,2025 Whether shareholder approval has been obtained in case of material deviations#from No comments Applicable management expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the No No comments management issue has changed? Is there any major deviation observed over the earlier No No deviation observed No comments monitoring agency reports? Whether all Government/ statutory approvals related to Not No comments the object(s) have been Applicable management obtained? Whether all arrangements pertaining to technical Not No comments assistance/collaboration are in Applicable management operation? Are there any favorable events As understood from the improving the viability of these No management object(s)? Are there any unfavorable As understood from the events affecting the viability of No management the object(s)? Is there any other relevant information that may materially As understood from the affect the decision making of the management investors? #Where material deviation is defined to mean: (a) Deviation in the objects or purposes for which the funds had been raised (b) Deviation in the amount of funds actually utilized by more than 10% of the amount specified in the offer document Sensitivity Label : Confidential September2026 4. Details of the object(s) to be monitored (i)Cost of object(s) Source of information, Original cost Directors certifications (as per the Revised Comments of S. Particulars Item Head considered by the offer cost the Monitoring Reason Proposed N. of firm Monitoring Agency d [Showing first 8,000 characters — download PDF for full document]