Monitoring Agency Report

Date: October 29, 2026 To, To, Sr. General Manager Sr. General Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051 BSE Scrip Code: 544319 NSE Symbol: SENORES Sub.: Monitoring Agency Report for the quarter ended September 30, 2026 Dear Sir/Ma’am, Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 , please find enclosed herewith Monitoring Agency Report for the quarter ended September 30, 2026, issued by CARE Ratings Limited (the “Monitoring Agency”), in respect of utilization of proceeds of the Initial Public Offer of the Company. The said report for the quarter ended September 30, 2026, has been duly reviewed by the Audit Committee and taken on record by the Board of Directors at their respective meetings held on October 29, 2026. The Monitoring Agency Report will also be made available on website of the Company i.e. www.senorespharma.com. You are requested to take the same on record. Thanking you. For Senores Pharmaceuticals Limited Shilpa Sharma Company Secretary & Compliance Officer Membership Number: A34516 Enclosure: As above Senores Pharmaceuticals Limited 1101 to 1103, 11th Floor, South Tower, One42, Opp. Jayantilal Park, Ambali Bopal Road, Ahmedabad-380054, Gujarat, India P: +91 79 2999 9857 | E: info@senorespharma.com W: www.senorespharma.com | CIN No.: L24290GJ2017PLC100263 No. CARE/ARO/GEN/2026-27/1204 The Board of Directors Senores Pharmaceuticals Limited 1101 to 1103, 11th Floor, South Tower, One42, Ambli Bopal Road, Ahmedabad, Gujarat - 380054 October 29, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the IPO of Senores Pharmaceuticals Limited (“the Company”) We write in our capacity of Monitoring Agency for the Initial Public Offering (IPO) for the amount aggregating to Rs.500 crore of the Company and refer to our duties cast under regulation 41 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018. 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 December 14, 2024. Request you to kindly take the same on records. Thanking you, Yours faithfully, Anuja Parikh Associate Director anuja.parikh@careedge.in Report of the Monitoring Agency Name of the issuer: Senores Pharmaceuticals 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: Anuja Parikh Designation of Authorized person/Signing Authority: Associate Director 1) Issuer Details: Name of the issuer : Senores Pharmaceuticals Limited Name of the promoter : Mr. Swapnil Jatinbhai Shah and Mr. Ashokkumar Vijaysinh Barot Industry/sector to which it belongs : Pharmaceuticals 2) Issue Details Issue Period : December 20, 2024 to December 24, 2024 Type of issue (public/rights) : Initial Public Offering Type of specified securities : Equity shares IPO Grading, if any : Not applicable Issue size (in crore) : Rs.500.00 crore of fresh issue 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of Comments of the Particulars Reply considered by Monitoring Agency for the Board of Monitoring Agency preparation of report Directors The Company had sought shareholder approval for variation in the objects / terms of utilization of IPO proceeds and extension of Chartered Accountant certificate*; Whether all utilization is as per the disclosures in the Offer time limit through postal ballot, No Bank statement, Company Declaration, No Comments Document? which got approved by e-voting by Shareholder approval the members as mentioned in the scrutinizer report dated August 04, 2026, and accordingly the objects and its timelines have been revised. The Company had sought shareholder approval for variation in the objects / terms of utilization of IPO proceeds and extension of Whether shareholder approval has been obtained in case of Chartered Accountant certificate*; time limit through postal ballot, material deviations# from expenditures disclosed in the Offer Yes Bank statement, Company Declaration, No Comments which got approved by e-voting by Document? Shareholder approval the members as mentioned in the scrutinizer report dated August 04, 2026, and accordingly the objects and its timelines have been revised. Source of information / certifications Comments of Comments of the Particulars Reply considered by Monitoring Agency for the Board of Monitoring Agency preparation of report Directors Whether the means of finance for the disclosed objects of the No Company declaration No comments No Comments issue have changed? The objects and its timeline have Chartered Accountant certificate*; been revised based upon the Is there any major deviation observed over the earlier Bank statement, Company Declaration, Yes shareholder approval based on the No Comments monitoring agency reports? Last monitoring agency report, scrutinizer report dated August 04, Shareholder approval 2026 Whether all Government/statutory approvals related to the Yes, as Company declaration No comments No Comments object(s) have been obtained? applicable Whether all arrangements pertaining to technical Not Company declaration No comments No Comments assistance/collaboration are in operation? Applicable Are there any favor [Showing first 8,000 characters — download PDF for full document]