Monitoring Agency Report

July 16, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Plot No. C/1, G Block, Bandra-Kurla Complex, Mumbai 400 001 Bandra (East), Mumbai 400 051 Scrip Code: 543940 Trading Symbol: JIOFIN Dear Sirs, Sub: Monitoring Agency Report for the quarter ended June 30, 2026 Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find attached Monitoring Agency Report for the quarter ended June 30, 2026, issued by CRISIL Ratings Limited, Monitoring Agency, in respect of the utilization of proceeds raised through Preferential Issue by the Company. This is for information and records. Thanking you, Yours faithfully, For Jio Financial Services Limited Mohana V Group Company Secretary and Compliance Officer Encl: a/a Jio Financial Services Limited Registered Address: 1st Floor, Building 4NA, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai - 400051, India +91 22 3555 4094 | www.jfs.in | investor.relations@jfs.in | CIN: L65990MH1999PLC120918 Monitoring Agency Report Jio Financial Services Limited for the quarter ended June 30, 2026 CRL/MAR/GDS18002/2026-27/1913 July 16, 2026 Jio Financial Services Limited Building 4NA, Maker Maxity, 1st Floor, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra, 400051 Dear Sir, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Preferential Issue (“PI”) of Jio Financial Services 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 July 31, 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 June 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: Jio Financial Services Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: No (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 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: Jio Financial Services Limited Names of the promoter: Mr. Mukesh D Ambani Industry/sector to which it belongs: Investment Company 2) Issue Details Issue Period: September 03, 2025 Type of issue (public/rights): Preferential Issue (PI) of Convertible warrants Type of specified securities: Warrants Issue Grading, if any: NA Issue size: This issue of up to 50 crore warrants at an issue price of Rs. 316.50 per warrant which is convertible into fully paid-up equity share of the Company aggregating to Rs. 15,825.00 crore 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of the Comments Particulars Reply considered by Monitoring of the Board Monitoring Agency for Agency of Directors preparation of report The utilisation is as Notice to Shareholders per the Notice to dated August 01, 2025 Shareholder dated (hereinafter referred as August 01, 2025, Whether all utilization is as per “Offer document”), towards the object the disclosures in the offer Yes Bank Statement, No Comment of the issue a) document? Statutory Auditor’s Infusion of funds certificate^, into existing and Management new subsidiaries / Undertaking joint ventures Whether shareholder approval has been obtained in case of material deviations# from NA No Comment No Comment Statutory Auditor’s expenditures disclosed in the certificate ^, offer document? Management Whether the means of Finance for Undertaking the disclosed objects of the issue No No Comment No Comment has changed? Source of information / certifications Comments of the Comments Particulars Reply considered by Monitoring of the Board Monitoring Agency for Agency of Directors preparation of report Is there any major deviation observed over the earlier No No Comment No Comment monitoring agency reports? Whether all Government/statutory approvals NA No Comment No Comment related to the object(s) have been obtained? Whether all arrangements Statutory Auditor’s pertaining to technical certificate ^, NA No Comment No Comment assistance/collaboration are in Management operation? Undertaking Are there any favourable events improving the viability of these NA No Comment No Comment object(s)? Are there any unfavourable events affecting the viability of NA No Comment No Comment these object(s)? Is there any other relevant information that may materially Refer Note 1 Yes Stock Exchanges No Comment affect the decision making of the below investors? # Where material deviation may be defined to mean: - (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. NA represents Not Applicable ^On the basis of Certificate dated July 10, 2026, issued by M/s Lodha & Co LLP, Chartered Accountants (Firm Registration Number: 301051E/ E300284), Statutory Auditors of the Company Note 1: The Company has issued warrants at a price of Rs 316.50 /- per share (as per the Notice to Shareholder dated August 01, 2025) whereas the current market price per share as on July 10, 2026, stands at Rs 234.00/-. In case the market price continues to remain below the exercise price, it may have an impact on conversion of warrants by warrant holders. 4) Details of object(s) to be monitored: i. Cost of the object(s): Source of Ori [Showing first 8,000 characters — download PDF for full document]