Monitoring Agency Report

Date: November 2, 2026 BSE Limited National Stock Exchange of India Limited 20th Floor, P.J. Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai - 400001. Mumbai – 400 051 BSE Scrip Code: 544880 NSE Scrip Symbol: HORIZONIND Sub.: Monitoring agency report under Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 (“SEBI Listing Regulation”) for the quarter ended September 30, 2026 Pursuant to Regulation 32(6) of the SEBI Listing Regulation read with Regulation 41(4) of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed the Monitoring Agency Report for the quarter ended September 30, 2026 issued by CARE Ratings Limited, Monitoring Agency, appointed for monitoring the utilization of proceeds of the Initial Public Issue (IPO) of the Company. The same is also available on the Company’s website at www.hiparks.com. We request you to take the same on your record. Thank you. For Horizon Industrial Parks Limited (formerly known as Horizon Industrial Parks Private Limited) Shraddha Poddar Company Secretary and Compliance Officer Membership No.: A23666 Encl.: as above Horizon Industrial Parks Limited (formerly known as Horizon Industrial Parks Private Limited) Tower 1, Floor 15, One World Center, Lower Parel, Mumbai 400013 CIN: L60231MH2009PLC222156 I +91 22 4158 1000 I HiParks.com I compliance@HiParks.com Monitoring Agency Report No. CARE/PRO/GEN/2026-27/1068 The Board of Directors Horizon Industrial Parks Limited One World Centre, Unit No 1501B, Tower 1, 841, Jupiter Textile Mills, Senapati Bapat Marg, Mumbai - 400 013 November 02, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the IPO of Horizon Industrial Parks Limited (“the Company”) We write in our capacity of Monitoring Agency for the Initial Public Offer for the amount aggregating to Rs. 2600.00 crore of the Company and refer to our duties cast under 41 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 July 23, 2026. Request you to kindly take the same on records. Thanking you, Yours faithfully, Sayani Mujherjee Associate Director Sayani.Mukherjee@careedge.in Draft Monitoring Agency Report Report of the Monitoring Agency Name of the issuer: Horizon Industrial Parks 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: NA 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 of the Authorized Signatory: Sayani Mujherjee Designation of Authorized person/Signing Authority: Associate Director Draft Monitoring Agency Report 1) Issuer Details: Name of the issuer : Horizon Industrial Parks Limited Name of the promoter : BREP Asia II EIP Holding (NQ) Pte. Ltd. BREP Asia II Indian Holding Co VI (NQ) Pte. Ltd. BREP Asia III India Holding Co III Pte. Ltd. Industry/sector to which it belongs : Realty 2) Issue Details Issue Period : August 17, 2026 to August 19, 2026 Type of issue (public/rights) : Public Type of specified securities : Equity Shares IPO Grading, if any : None Issue size (in crore) : Rs. 2600.00 crore 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Board of Monitoring Agency preparation of report Directors Whether all utilization is as per the disclosures in the Offer Bank Statement, CA Certificate*, The proceeds of the issue are utilized No comments Document? Management Certificate towards stated objects Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosed in the Offer Not Applicable Not Applicable No comments Applicable Document? Whether the means of finance for the disclosed objects of the No Management Certificate None No comments issue have changed? Is there any major deviation observed over the earlier Not This is the first Monitoring Agency Not Applicable No comments monitoring agency reports? Applicable Report Whether all Government/statutory approvals related to the Not Management Certificate Not Applicable No comments Draft Monitoring Agency Report Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Board of Monitoring Agency preparation of report Directors object(s) have been obtained? Applicable Whether all arrangements pertaining to technical Not Management Certificate Not Applicable No comments assistance/collaboration are in operation? Applicable Are there any favorable/unfavorable events affecting the No Management Certificate None No comments viability of these object(s)? Is there any other relevant information that may materially No Management Certificate None No comments affect the decision making of the investors? * The details are verified by S G C O & Co. vide its CA certificate dated October 16, 2026. #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. 4) Details of objects to be monitored: (i) Cost of objects – Comments of the Board of Directors Source of information / Original cost Comments of Particulars of - Sr. Item certifications considered by (as per the Offer Revised Cost the Reason for cost Proposed firm No Head Monitoring Agency for Document) in Rs. in Rs. Crore Monitoring revision financing option arrangements preparation of [Showing first 8,000 characters — download PDF for full document]