Monitoring Agency Report

October 26, 2026 BSE Limited National Stock Exchange of India Limited Department of Corporate Services, The Listing Department, Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 543396 Symbol: PAYTM Sub.: Disclosure under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Monitoring Agency Report for the quarter ended September 30, 2026. Dear Sir / Ma’am, Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we are enclosing herewith the Monitoring Agency Report dated October 26, 2026, issued by Axis Bank Limited, Monitoring Agency, for the quarter ended September 30, 2026, in respect of utilization of proceeds of the Initial Public Offer of the Company. The aforesaid Monitoring Agency Report has been reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at their respective meetings held today i.e., October 26, 2026. This disclosure will also be hosted on the Company's website viz. https://ir.paytm.com/ Kindly take the same on record. Thanking you, Yours Sincerely, For One 97 Communications Limited Sunil Kumar Bansal Company Secretary and Compliance Officer FCS: 4810 Encl. as Above One 97 Communications Limited Corporate Office - One Skymark, Tower-D, Plot No. H-10B, Sector-98, Noida-201304 compliance.officer@paytm.com T: +91120 4770770 F: +91120 4770771 CIN: L72200DL2000PLC108985 www.paytm.com Registered Office - 136, First Floor, Devika Tower, Nehru Place, New Delhi-110019 AXB/CO/ 2026-27/117 Oct 26,2026 ONE 97 COMMUNICATIONS LIMITED First Floor, Devika Towers, Nehru Place, New Delhi 110019 Dear Sir, Sub: One 97 Communications Limited (the “Company”) – Monitoring Agency Report We write in our capacity of Monitoring Agent to the Company and refer to our duties cast under Regulation 41(2) of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018. In terms of above, please find attached the Monitoring Report for the quarter ended on September 30, 2026, as per Schedule XI of the aforesaid SEBI Regulations. Request you to kindly take the same on records. Thanking you. Yours Faithfully, For and on behalf of Axis Bank Ltd Authorised Signatory Garima Tiwari REPORT OF THE MONITORING AGENCY Name of the Issuer: ONE 97 COMMUNICATIONS LIMITED For quarter ended: September 30, 2026 Name of the monitoring agency: Axis Bank Limited (a) Deviation from the objects: No Deviation Utilization different from Objects stated in the offer document but in line with change of objects approved by shareholders' resolution; or Utilization neither in line with Objects stated in the offer document nor approved by shareholders' resolution: In case of no deviation, the fact would be stated. (b) Range of Deviation*: No Deviation Indicate the range of percentage deviation from the amount of issue proceeds earmarked for the objects. For example, up to 10%, 10- 25%, 25-50%, 50-75%, 75-100%, not ascertainable etc. * Range of Deviation may be computed by taking weighted average of financial deviation of each object in the ratio of issue proceeds allocated for it. Non-financial deviation may be indicated separately by way of notes. Declaration: I/We hereby declare that this report is based on the format as prescribed by SEBI (ICDR) Regulations, 2018, as amended. I/We further declare that this report provides true and fair view of the utilization of issue proceeds. I/We declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer Signature: Name of the Authorized Person/Signing Authority: Garima Tiwari Designation of Authorized person/Signing Authority: Authorised Signatory Date: October 26, 2026 1) Issuer Details: Name of the issuer : One97 Communications Limited The names of the promoters of the issuer NA Industry / sector to which it belongs : Digital Payment Services, Commerce and Cloud Services and Financial Services 2) Issue Details: Issue period : 8th November,2021 to 10th November, 2021 Type of issue (rights) : Public Issue Type of specified security : Equity Shares Grading : Not Applicable Issue size (₹ in Crores) : 18,300 Cr. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: (Give item by item description for all the objects stated in offer document separately in following format) Comments of Comments of Board of Particulars Reply Monitoring Agency Directors Whether all the utilzation is as per Yes/ Yes Yes disclosure in Offer Document? No Whether Shareholder approval is obtained in Yes/ Yes, Relevant Shareholder Yes, Relevant Shareholder case of material deviations from No and Board of Directors prior and Board of Directors expenditures disclosed in Offer Document? approval is sought. prior approval is sought. Whether means of finance for disclosed Yes/ No No objects of the Issue has changed? No Any major deviation observed over the Yes/ Not Applicable Not Applicable earlier monitoring agency reports? No Whether all Government / Statutory Yes/ Yes Yes approvals related to the object(s) obtained? No Whether all arrangements pertaining Yes/ Not Applicable Not Applicable to technical assistance/collaboration in No operation? Any favorable events improving object(s) Yes/ Not Applicable Not Applicable viability No Any unfavorable events affecting object(s) Yes/ Not Applicable Not Applicable viability No Any other relevant information that may Yes/ No No materially affect the decision making of the No investors #Where material deviation may be defined to mean: 1) Deviation in the objects or purposes for which the funds have been raised 2) Deviation in the amount of fund actually utilized by more than 10% of the amount projected in the offer documents. 4) Details of object(s) to be monitored: 4.1 Cost of Objects: (₹ in Crore) S. Item Original Revised Comments of the Comments of No Head Cost (as Cost Monitoring the Board of per Agency Directors Issue Document) Growing and strengthening our Paytm ecosystem, including through acquisition and retention of consumers and merchants and providing them with greater access to technology and financial services 1 i) Marketing and 4,300 4,300 None Nil promotional expenses ii) Expanding our merchant base and deepening our partnership with our merchants iii) Strengthening and expanding our technology powered payments platform Investing in new business initiatives, acquisitions and strategic partnerships i) Investments in new Refer Note 2 Refer Note 2 business initiatives below under below under 2 ii) Payment Services 2,000 2,000 section 4.2 section 4.2 iii) Commerce and cloud services iv) Financial Services v) Investments in acquisitions and strategic partnerships General Corporate None Nil 3 1,813 1,819 Purpose Total 8,113 8,119 None Nil 4.2 Progress in the object(s)- (Give item by item description for all the objects stated in offer document separately in following format) (₹ in Crore) S. Item Head* Amount Amount utilized Total Comments Comment No as As at During At the unutilized of the s of the proposed beginnin the end of amount Monitoring Board of in Offer g of the quarter the Agency Directors Document quarter quarter 1. Growing and 4,300 4,300 - 4,300 - None Nil strengthening our Paytm ecosystem, including through acquisition and retention of consumers and merchants and providing them with greater access to technology and financial services i) Marketing and promotional - expenses ii) Expanding our merchant base and - deepening our partnership with our merchants iii) Strengthening and expanding our t [Showing first 8,000 characters — download PDF for full document]