Monitoring Agency Report for utilization of funds for the quarter ended September 30, 2026.

November 4, 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C/1, Block G, Bandra Dalal Street, Mumbai- 400001. Kurla Complex (E), Mumbai- 400051. Scrip Code: 512008 NSE Symbol: EFCIL Sub.: Monitoring Agency Report on the utilization of proceeds raised through Rights Issue for the quarter ended September 30, 2026. Dear Sir/ Ma’am, Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 162A of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith the Monitoring Agency Report issued by CARE Ratings Limited for the quarter ended September 30, 2026, in respect of the utilization of proceeds raised through Rights Issue dated May 25, 2026. Kindly take the same on record. Yours faithfully, For EFC (I) Limited Aman Gupta Company Secretary Encl.: As above EFC (I) Limited Regd. Office: 6th Floor, VB Capitol Building, Range Hill Road, Opp. Hotel Symphony, Bhoslenagar, Shivajinagar, Pune-411007, Maharashtra I CIN: L74110PN1984PLC216407 Tel.: 020 2952 0138 I Email Id: compliance@efclimited.in I Website: www.efclimited.in Monitoring Agency Report No. CARE/HO/GEN/2026-27/1211 The Board of Directors EFC (I) Limited 6th Floor, VB capitol building, Range Hill Road, Opp. Hotel Symphony, Bhoslenagar, Shivajinagar, Pune – 411007, Maharashtra, India. November 04, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Rights Issues (RI) of EFC (I) Limited (“the Company”) We write in our capacity of Monitoring Agency for the Rights Issue for the amount aggregating to Rs. 159.94 crore of the Company and refer to our duties cast under Regulation 82 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 April 03, 2026. Request you to kindly take the same on records. Thanking you, Yours faithfully, Darshan Shah Associate Director Darshan.shah@careedge.in Monitoring Agency Report Report of the Monitoring Agency Name of the issuer: EFC (I) 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: 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 of the Authorized Signatory: Darshan Shah Designation of Authorized person/Signing Authority: Associate Director Monitoring Agency Report 1) Issuer Details: Name of the issuer : EFC (I) Limited Name of the promoter : Umesh Kumar Sahay and Abhishek Narbaria Industry/sector to which it belongs : Realty – Real estate related services 2) Issue Details Issue Period : Not applicable Type of issue (public/rights) : Rights Issue (RI) Type of specified securities : Equity Shares IPO Grading, if any : Not Applicable Issue size (in crore) : Rs. 159.94 crores 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications considered by Comments of the Comments of the Particulars Reply Monitoring Agency for Monitoring Agency Board of Directors preparation of report Reimbursement of expenses In all instances, the expenditure was The utilization of gross proceeds is in line with incurred towards the approved objects of the objects of the Letter of Offer and Board the issue only and wherever, the Resolution. However, MA notes that there are expenditure is already incurred during the instances in the bank statements where the quarter towards the object, it was expenditure was incurred prior to the transfer reimbursed from proceeds of the Rights of the proceeds / redemption of fixed Issue in the ordinary course. Letter of Offer*, Management deposits, with the proceeds subsequently Whether all utilization is as per the Certificate, Board Resolution$, being utilized by way of reimbursement. Further, the expenditure has been incurred disclosures in the Offer Document? Bank Statements and Invoices, in accordance with the respective payment CA Certificate^ Prior period invoices terms and conditions stipulated in the Utilization during the quarter has been made underlying invoices, and accordingly, the against prior period invoices. payments have been made during the quarter as they fell due. Comingling of funds The company has transacted the funds The routing of funds through the Company’s through its current accounts and the current current account and monitoring account and accounts and monitoring accounts of its the current accounts and monitoring Monitoring Agency Report Source of information / certifications considered by Comments of the Comments of the Particulars Reply Monitoring Agency for Monitoring Agency Board of Directors preparation of report subsidiaries and current account of step-down accounts of its subsidiaries and step-down subsidiaries, which also recorded numerous subsidiaries was undertaken strictly in the other business transactions. As a result, there ordinary course of business and for was comingling of funds. Care Ratings Limited operational efficiency. While such accounts (CareEdge Ratings) has relied on bank recorded other routine business statements, Management Certificate, and CA transactions, the end-use of proceeds has certificate to monitor and assess the utilization been clearly identifiable and traceable. of the issue proceeds. Whether shareholder approval has been obtained in case of material deviations# Not Management Certificate No comment No comment from expenditures disclosed in the Offer Applicable Document? Whether the means of finance for the Management Certificate, Letter No No comment No comment disclosed objects of the i [Showing first 8,000 characters — download PDF for full document]