Monitoring Agency Report

28^ October, 2026 Your success is our success To, To, Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, P. J. Tower, Dalai Street, Bandra (East), Mumbai- 400 051. Mumbai 400 001. Equity Scrip Code: EMKAY Equity Scrip Code: 532737 Dear Sir/Madam, Sub: Report of Monitoring Agency for the quarter ended 30*^ September, 2026 Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith the Monitoring Agency Report for the quarter ended September, 2026, issued by CARE Ratings Limited, in respect of utilisation of funds raised through Preferential Issue of Convertible Warrants by the Company vide its Letter of Offer dated 24^'* October, 2025. This intimation along with the Monitoring Agency Report is available on the Company's website of the Company at www.emkavglobal.com. Thanking you. Yours faithfully For Emkay Global Financial Services Limited Nishant S. Shirke Company Secretary and Compliance Officer Administrative Office; Paragon Centre, C-06, Ground Floor, Pandurang Budhkar Marg, Worii, Mumbai - 400 013. Tel; +91 22 6629 9299 Fax; +91 22 6629 9105 Email: compliance@emkayglobal.com I Office; The Ruby, 7tti Floor, Senapati Bapat Marg, Oadar (West), Mumbai - 400 028, Te!; +91 22 66121212 Fax;+91 22 6612 1299 www.emkaygkOal.com CIN • L67120MH1995PLC0S4899 EMKAY GLOBAL FINANCIAL SERVICES LIMITED Monitoring Agency Report No. CARE/HO/GEN/2026-27/1189 The Board of Directors Emkay Global Financial Services Limited 7th Floor, The Ruby, Senapati Bapat Marg, Dadar – West, Mumbai – 400028 10/28/2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the preferential issue of Emkay Global Financial Services Limited (“the Company”) We write in our capacity of Monitoring Agency for the Preferential Issue for the amount aggregating to Rs. 227.52 crore of the Company and refer to our duties cast under 162A 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 September 30, 2026 as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated 09/22/2025. Request you to kindly take the same on records. Thanking you, Yours faithfully, Jitendra Meghrajani Associate Director Jitendra.Meghrajani@careedge.in Monitoring Agency Report Report of the Monitoring Agency Name of the issuer: Emkay Global Financial Services Ltd 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 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: Jitendra Meghrajani Designation of Authorized person/Signing Authority: Associate Director Monitoring Agency Report Issuer Details: Name of the issuer: Emkay Global Financial Services Ltd Name of the promoter: Krishna Kumar Karwa, Prakash Kacholia, Emkay Corporate Services Pvt Ltd Industry/sector to which it belongs: Stockbroking & Allied 1) Issue Details Issue Period: 10/24/2025 to 10/27/2025 Type of issue (public/rights): Preferential issue Type of specified securities: Convertible warrants IPO Grading, if any: Not Applicable Issue size (in crore): Rs. 227.52 crore 2) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments of certifications considered by Comments of the the Particulars Reply Monitoring Agency for preparation Monitoring Agency Board of of report Directors Utilization of gross proceeds during No comments the current quarter is towards Whether all utilization is as per the disclosures in the Offer Offer document, CA certificate, Bank Yes meeting working Document? statement, Management Confirmation capital requirements, the same is in-line with the objects of the issue. Whether shareholder approval has been obtained in case of No comments Not CA certificate and Management No deviation from objects hence material deviations# from expenditures disclosed in the applicable Confirmation not applicable. Offer Document? Whether the means of finance for the disclosed objects of CA certificate and Management No comments No Not applicable the issue have changed? Confirmation Is there any major deviation observed over the earlier No deviation observed in prior MA No comments No Prior MA reports monitoring agency reports? reports Whether all Government/statutory approvals related to the Not CA certificate and Management No comments Not applicable object(s) have been obtained? applicable Confirmation Whether all arrangements pertaining to technical Not CA certificate and Management No comments Not applicable assistance/collaboration are in operation? applicable Confirmation Are there any favorable/unfavorable events affecting the CA certificate and Management No comments No Not applicable viability of these object(s)? Confirmation Is there any other relevant information that may materially CA certificate and Management No comments No Not applicable affect the decision making of the investors? Confirmation #Where material deviation may be defined to mean: Monitoring Agency Report 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. 3) Details of objects to be monitored: (i) Cost of objects – Source of information / Comments of the Board of Directors Original cost Comments certifications Particulars Sr. Item (as per the Offer Revised Cost of the P [Showing first 8,000 characters — download PDF for full document]