Monitoring Agency Report

Date: November 03, 2026 To, To, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phirozee Jeejeeboy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Fort, Mumbai – 400001. Bandra (East), Mumbai – 400051 Scrip Code: 544865 Symbol: LEAPIND Dear Sir/ Ma’am, Subject: Disclosure under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Monitoring Agency Report for the quarter ended September 30, 2026 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 issued by India Ratings & Research Private Limited, 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 on October 26, 2026. This disclosure will also be hosted on the Company's website viz. https://leapindia.net We request you to kindly take the above information on record. Thanking you. Yours faithfully, For LEAP India Limited Chirag Bagadia Company Secretary, Compliance Officer and Head Legal Membership No.: A21579 Date: 02nd November 2026 LEAP India Limited 14th Floor, Commerz 1, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai 40063, India. Subject: Monitoring Agency Report for the quarter ended 30th September 2026 in relation to Initial Public Offer (IPO). Dear Sir, Pursuant to Regulation 41 (2) of SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated 30th July 2026, please find enclosed herewith the Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of IPO, for the quarter ended September 30, 2026. Request you to kindly take the same on records. Thanking You, For and on behalf of India Ratings & Research Private Limited Name: Shrikant Dev Designation: Company Secretary India Ratings & Research Private Limited A Fitch Group Company Wockhardt Towers, Level 4, West Wing, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Tel: +91 22 4000 1700 Fax: +91 22 4000 1701 CIN/LLPIN: U67100MH1995FTC140049 www.indiaratings.co.in Report of the Monitoring Agency (MA) Name of the issuer: LEAP India Limited For quarter ended: 30th September 2026 Name of the Monitoring Agency: India Ratings & Research Private Limited (a) Deviation from the objects: No deviation from the objects. Based on the Management Representation and as per the Statutory Auditor Certificate dated 02nd November 2026 issued by Walker Chandiok & Co LLP, Chartered Accountants (FRN –001076N/N500013) having UDIN 26062191QLFKLG6896* and other documents provided to us, no deviation from the objects has been observed. *The reference to the Statutory Auditor Certificate anywhere in the MA report refers to the said Certificate. (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: Shrikant Dev (Company Secretary) Date: 02nd November 2026. Page 1 of 7 1) Issuer Details: Name of the issuer: LEAP India Limited (“the Company”) Names of the promoters: • Sunu Philip Mathew • Vertical Holdings II Pte. Ltd. Industry/sector to which it belongs: Technology-enabled supply chain solutions and on- demand asset pooling 2) Issue Details: Issue Period: 07th August 2026 to 11th August 2026. (Anchor Issue date: 06th August 2026) Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: 3,01,88,687* Equity Shares (Fresh Issue) of FV ₹ 1 each @ 159 per equity shares. IPO Grading, if any: Not Applicable Issue size: INR 4,800 Mn* *It is the Fresh Issue size. The issue consisted of offer for sale of INR 20,000 Mn and fresh issue of INR 4,800 Mn aggregating to total issue size of INR 24,800 Mn. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments certifications considered by Comments of the of the Particulars Reply Monitoring Agency for Monitoring Agency Board of preparation of report Directors Management Undertaking, Whether all utilization is as per Statutory Auditor the disclosures in the Offer Yes Certificate, Prospectus, No Comments Comments Document? Relevant Bank Statements, Loan account statements. Whether shareholder approval has been obtained in case of Management Undertaking, material deviations from NA Statutory Auditor No Comments Comments expenditures disclosed in the Certificate. Offer Document? Whether the means of finance Management Undertaking, for the disclosed objects of the No Statutory Auditor No Comments Comments issue has changed? Certificate. Is there any major deviation observed over the earlier NA NA No Comments Comments monitoring agency reports? Management Undertaking, Whether all No NA Statutory Auditor No Comments Government/Statutory Comments Certificate. Page 2 of 7 Source of information / Comments certifications considered by Comments of the of the Particulars Reply Monitoring Agency for Monitoring Agency Board of preparation of report Directors approvals related to the object(s) have been obtained? Whether all arrangements Management Undertaking, pertaining to technical No NA Statutory Auditor No Comments assistance/collaboration are in Comments Certificate. operation? Are there any favorable events Management Undertaking, improving the viability of these No Statutory Auditor No Comments Comments object(s)? Certificate. Are there any unfavorable Management Undertaking, events affecting the viability of No Statutory Auditor No Comm [Showing first 8,000 characters — download PDF for full document]