Monitoring Agency Report

Ref. No. ESDS / 2026-27 / 22 Date: November 03, 2026 To To Department of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, C-1, G-Block, Bandra-Kurla Complex Dalal Street, Mumbai, MH – 400001 Bandra (E), Mumbai, MH – 400051 Scrip Code: 544898 Scrip Symbol: ESDS Sub: Monitoring Agency Report for the quarter ended September 30, 2026 Dear Sir/Madam, Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed herewith Monitoring Agency Report dated 2nd November, 2026 issued by CRISIL Ratings Limited (Monitoring Agency), in respect of utilization of proceeds of Initial Public Offer (IPO) of the Company for the quarter ended September 30, 2026. The draft of the above-mentioned report has been duly reviewed by the Audit Committee at its meeting held on November 02, 2026. Kindly take the same on your record. Thanking you For ESDS Software Solution Limited (Prasad Deochand Deokar) Company Secretary & Compliance Officer M. No. A34350 Monitoring Agency Report ESDS Software Solution Limited for the quarter ended September 30, 2026 CRL/MAR/ESWS/2026-27/1986 November 02, 2026 ESDS Software Solution Limited Plot No. B- 24 & 25, NICE Area, MIDC, Satpur, Nashik – 422 007, Maharashtra, India Dear Sir, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Initial Public Offer (“IPO”) of ESDS Software Solution Limited (“the Company”) Pursuant to Regulation 41 (2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated August 24, 2026, 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 IPO for the quarter ended September 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: ESDS Software Solution Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: Not applicable (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: ESDS Software Solution Limited Names of the promoter: Mr. Piyush Prakashchandra Somani, Mrs. Komal Piyush Somani and P. O. Somani Family Trust Industry/sector to which it belongs: IT enables services 2) Issue Details Issue Period: August 28, 2026, to September 01, 2026 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Rs 7,200.00 million* *Note: Particulars Amount (Rs. million) Gross proceeds 7,200.00# Less: Issue Expenses 529.52 Net Proceeds 6,670.48 #Crisil Ratings shall be monitoring the gross proceeds. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ Comments certifications Comments of the of the Particulars Reply considered by Monitoring Agency Board of Monitoring Agency for Directors preparation of report Management undertaking, Peer- reviewed Independent Chartered Accountant Proceeds were utilized Whether all utilization is as per certificate^, Prospectus towards general corporate No the disclosures in the Offer Yes dated September 01, purposes and issue comments Document? 2026 (hereinafter expenses referred to as “Offer document”), Bank Statements Whether shareholder approval has been obtained in case of material deviations from NA No comments comments expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the issue No No comments comments has changed? Is there any major deviation observed over the earlier NA No comments comments monitoring agency reports? Whether all Government/ Management No statutory approvals related to the NA No comments Undertaking, Peer- comments object(s) have been obtained? reviewed Independent Whether all arrangements Chartered Accountant pertaining to technical No NA certificate^ No comments assistance/collaboration are in comments operation? Are there any favorable events improving the viability of these No No comments comments object(s)? Are there any unfavorable events affecting the viability of the No No comments comments object(s)? Is there any other relevant information that may materially No No No comments affect the decision making of the comments investors? NA represents Not Applicable ^Certificate dated October 29, 2026, issued by M/s BSVD & Associates, Chartered Accountants (Firm Registration Number: 151581W), Peer-reviewed Independent Chartered Accountant. 4) Details of object(s) to be monitored: i. Cost of the object(s): Source of Original Comments of the Board of Directors information/ cost Revised Comment certification (as per the Particulars of Sr. Cost of the Reason of Proposed Item considered by Offer firm No. (Rs in Monitoring Cost financing Head MA for Document) arrangements million) Agency revision option preparation of (Rs in made report million) Purchase and installation of cloud computing and other No 1 5,760.00 NA No comments equipment and revision infrastructure for relevant data centres Management undertaking, Peer- reviewed Independent General corporate Chartered No 2 910.48 NA No comments purposes# Accountant revision certificate^, Offer document - Sub-total 6,670.48 - - - - - 3 Issue expenses 529.52 NA No comments revision - Total - 7,200.00 - - - - - #The amount utilised for general corporate purposes does not exceed 25% of the Gross Proceeds (amounting to Rs 1,800.00 million) from the Fresh Issue. ^Certificat [Showing first 8,000 characters — download PDF for full document]