Monitoring Agency Report for the quarter ended September 30,2026

Ref.: SGEL/SE/2026-27/68 November 05, 2026 To, To, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street Exchange Plaza, C-1, Block G, Bandra Kurla Mumbai – 400001 Complex Bandra (E), Mumbai – 400 051 Scrip Code: 544526 Symbol: SAATVIKGL 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 (“SEBI”) (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) read with Regulation 41(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed, the Monitoring Agency Report dated November 05, 2026 issued by Crisil Ratings Limited, Monitoring Agency, for the quarter ended September 30, 2026 in respect of utilization of proceeds of the Initial Public Offer of the Company. The aforesaid report is also available on the website of the Company i.e., https://saatvikgroup.com. You are requested to kindly take the above information on your record. Thanking you, For Saatvik Green Energy Limited Jyoti Verma Company Secretary & Compliance Officer Encl.: a/a Saatvik Green Energy Limited (a Saatvik Group Company) Corporate Office: Tower A, IFFCO Complex, Plot No. 3, Institutional Area, Sector 32, Gurugram, Haryana- 122001, Tel.: 1800-547-1151 | W.: www.saatvikgroup.com | E.: info@saatvikgroup.com| CIN: L40106HR2015PLC075578 Registered Office: Village Dubli, V.P.O. Bihta, Tehsil Ambala, Haryana- 133101, India Monitoring Agency Report Saatvik Green Energy Limited for the quarter ended September 30, 2026 CRL/MAR/SVIGEP/2026-27/1995 November 05, 2026 Saatvik Green Energy Limited Vill. Dubli, V.P.O Bihta Tehsil, Ambala – 133 101, Haryana, India Dear Sir, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Initial Public Offer (“IPO”) of Saatvik Green Energy 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 September 15, 2025, 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: Saatvik Green Energy 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: Saatvik Green Energy Limited Names of the promoter: Mr. Neelesh Garg, Mrs. Manavika Garg, Mr. Manik Garg, SPG Trust Industry/sector to which it belongs: Heavy Electrical Equipment 2) Issue Details Issue Period: September 19, 2025, to September 23, 2025 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Rs 7,000.00 million* *Note: Particulars Amount (Rs in million) Gross proceeds 7,000.00# Less: Issue Expenses 390.83 Net Proceeds 6,609.17 #Crisil Ratings shall be monitoring the gross proceeds. Net proceeds have been revised from Rs 6,575.18 million to Rs 6,609.17 million (refer note 1 on page 7). 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, Independent Chartered Proceeds were utilized Whether all utilization is as per Accountant Certificate^, towards capital expenditure No the disclosures in the Offer Yes Prospectus dated in the subsidiary of the comments Document? September 23, 2025 Company (hereinafter 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 No No comments comments monitoring agency reports? Whether all Government/ statutory approvals related to the NA Management No comments comments object(s) have been obtained? undertaking, Whether all arrangements Independent Chartered pertaining to technical Accountant Certificate^ No NA 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 28, 2026, issued by M/s Jayant Bansal & Co., Chartered Accountants (Firm Registration Number: 004694N), 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 of Particulars certification (as per the Sr. Cost the Reason Proposed of firm Item considered by Offer No. (Rs in Monitoring of Cost financing arrangement Head MA for Document) million) Agency revision option s preparation of (Rs in made report million) Prepayment or scheduled repayment, in full or in part, of all 1 or a portion o [Showing first 8,000 characters — download PDF for full document]