Statement of deviation(s) or variation(s) under Reg. 32

JAIN RESOURCE RECYCLING LIMITED (Formerly Known as Jain Resource Recycling Private Limited) Date: November 3, 2026 JRRL/2026-27/ 090 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 SYMBOL: J AINREC SCRIP CODE: 544537 Dear Sir/Ma'am Sub: Statement of Deviation or Variation in utilization of funds raised under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 for the Quarter ended September 30, 2026. Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, we confirm that there has been no"·deviation(s) or variation(s) during the quarter and half year ended September 30, 2026 in respect of the utilization of proceeds of the Initial Public Offering (IPO) from the objects stated in the Prospectus dated September 26, 2025_ Please find enclosed a statement in this regard along with the Utilization Certificate issued by M/ s_ CNGSN & Associates LLP, Chartered Accountants. The said statement has been reviewed by the Audit Committee and taken on record by the Board of Directors at its meeting held today i_e_, Tuesday, November 03, 2026_ We request you to kindly take the above on record. Yours faithfully, FOR JAIN RESOURCE RECYCLING LIMITED (FORMERLY JAIN RESOURCE RECYCLING PRIVATE LIMITED) ARAV INDKUMAR V COMP ANY SECRET ARY AND COMPLIANCE OFFICER Registered Office: THE LATTICE, Old No. 7/1, New No. 20, 4th Floor, Bishop Ezra Sargunam Road, Kilpauk, Chennai 600 010, T.N, India Unit I : D-12, SIPCOT lndl. Complex, Gummidipoondi, Thiruvallur, 601 201, T.N, India Unit II : Plot No. R1 -R3, Pappankuppam Village, SIPCOT Ind!. Complex, Gummidipoondi, Thiruvallur, 601 201, T.N, India T: +91 44 4340 9494 E: info@jainmetalgroup.com W: www.jainmetalgroup.com CIN No. L27320TN2022PLC150206 . JAIN -RESOURCE RECYCLING LIMITED •{ formerly>Known as Jain Resource Recycling Private Limited) ANNEXUREA STATEMENT OF DEVIATIONNARIATION IN UTILISATION OF FUNDS RAISED THROUGH PUBLIC ISSUE FOR THE QUARTER ENDED SEPTEMBER 30, 2026 Name of the Listed Entity Jain Resource Recycling Limited Mode of Fund Raising Public Issue Date of Raising Funds September 26, 2025 Rs. 12,500 Million comprising of: Amount Raised Fresh Issue -Rs. 5,000 Million and Offer for Sale -Rs. 7,500 Million Report filed for Quarter ended September 30, 2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable CRISIL Ratings Limited Is there a Deviation/Variation in use of fw1ds raised No If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the NA shareholders If Yes, Date of shareholder Approval NA Explanation for the Deviation/Variation NA Conu11ents of the Audit Conmuttee after review Nil Conu11ent of the Auditors, if any Nil STATEMENT OF UTILISATION OF FUNDS AS ON SEPTEMBER 30, 2026 Amount of Modified Original Modified Funds Deviation/Variation Original Object Object, if Allocation Allocation, Utilised for the quarter Remarks, if any any (Rs.) if any (in Rs.) according to applicable object Pre-payment or scheduled re-payment of a portion of Not 3,750 3,750 certain outstanding No Chaiige Not Applicable Fully utilised Applicable Million Million borrowings availed by the Compaiw Revised by the Board on Februa1y 9, 2026 Not 591.08 986.43 986.43 General corporate purposes Not Applicable (Note 1). Fully Applicable Million Million Million utilised in the earlier quarter. Not 4,341.08 4,736.43 4,736.43 Gross Proceeds Not Applicable Refer Note below Applicable Million Million Million Revised (Note 1). Unutilised Rs. 36.64 Not 658.92 263.57 226.93 Issue Expenses Not Applicable nullion held in the Applicable Million Million Million Mo11itoring Accow1t (Note 2). Not 5,000 Not 4,963.36 Unutilised balance: Net Proceeds Not Applicable Applicable Million Applicable Million Rs. 36.64 nullion. 1. The Prospectus showed Fresh Issue expenses as Rs. 658.92 n1illion instead of Rs. 263.57 nullion, because the Offer for Sale expenses were inadvertently included. The Board corrected this on Februa1y 9, 2026. As a result, General Corporate //.'.c,f ~Ee/~, f.5/ Registered Office: THE LATTICE, Old No. 7/1, New No. 20, 4th Floor, Bishop Ezra Sargunam Road, Kilpauk, Chennai 600 O ,,India ~~ \\ Unit I : D-12, SIPCOT lndl. Complex, Gummidipoondi, Thiruvallur, 601 201, T.N, India ~ C~ Nj ~ Unit II : Plot No. Rl -R3, Pappankuppam Village, SIPCOT lndl. Complex, Gummidipoondi, Thiruvallur, 601 201, T.N, • *,1 • [~ T: +91 44 4340 9494 E: info@jainmetalgroup.com W: www.jainmetalgroup.com CIN No. L27320TN2022PLC1502 'I' ()~;j-/ ----- JAIN RESOURCE RECYCLING LIMITED (Formerly Known as Jain Resource Recycling Private Limited) Pmposes increased from Rs. 591.08 million to Rs. 986.43 million, and the Net Proceeds increased from Rs. 4,341.08 million to Rs. 4,736.43 million. Gross Proceeds remain Rs. 5,000.00 million. 2. As on September 30, 2026, Rs. 36.64 million of Issue Expenses remained wmtilised in the Monitoring Account. After the quarter ended, the Board, by circular resolution dated October 7, 2026, moved this amow1.t to General Corporate Pmposes. The revised General Corporate Purposes amow1.t of Rs. 1,023.07 million is 20.46% of Gross Proceeds, within the 25% limit under Regulation 7(2) of the SEBI ICDR Regulations. This change will be shown in the statement for the quarter ending December 31, 2026. 3. In the quarter ended December 31, 2025, Rs. 540.00 million from General Corporate Purposes was used to repay an unsecured loan from a promoter/ director. This was reported as a deviation and was ratified by the shareholders on April 26, 2026. Deviation or variation could mean: (a) Deviation in the objects or purposes for which the funds have been raised or (b) Deviation in the amount of funds actually utilised as against what was originally disclosed or (c) Change in terms of a contract referred to in the fund-raising document i.e., prospectus, letter of offer, etc. For Jain Resource Recycling Limited (Formerly Jain Resource Recycling Private Limited) Aravindkumar V Company Secretary & Compliance Officer Date: November 3, 2026 Place: Chennai Registered Office: rnE LATTICE, Old No. 7/1, New No. 20, 4th Floor, Waddles Road, Kilpauk, Chennai 600 01 o, TN, India _ Unit I : D-12, SIPCOT lndl. Complex, Gummidipoondi, Thiruvallur, 601 201, T.N, India Unit II : Plot No. R1 -R3, Pappankuppam Village, SIPCOT lndl. Complex, Gummidipoondi, Thiruvallur, 601 201, TN, India T: +91 44 4340 9494 E: info@jainmetalgroup.com W: www.jainmetalgroup.com CIN No. U27320TN2022PLC150206