Monitoring Agency Report

EXCELSOFT TECHNOLOGIES LIMITED Formerly known as Excelsoft Technologies Private Limited. CIN: L72900KA2000PLC027256 1-B, Hootagalli Industrial Area, Mysuru - 570 018, Karnataka, India 0821-4002200 compliance.officer@excelsoftcorp.com www.excelsoftcorp.com November 05, 2026 To To The Listing Department, The Listing Department, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai – 400001, Bandra (East), Mumbai – 400051, Maharashtra, India. Maharashtra, India. Scrip Code: 544617 Scrip Symbol: EXCELSOFT ISIN: INE606N01019 Subject: Monitoring Agency Report for the 2nd (Second) Quarter ended September 30, 2026. Dear Sir/Madam, Pursuant to Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), read with Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we hereby submit the Monitoring Agency Report dated November 05, 2026, issued by CARE Ratings Limited, Appointed Monitoring Agency of the Company in respect of utilisation of proceeds of the Initial Public Offer (“IPO”) of the Company, for the 2nd (Second) quarter ended September 30, 2026. The said report is duly reviewed by both the Audit Committee and subsequently approved by the Board of Directors of the company, and the same report is enclosed herewith. The above information is also available on the website of the Company at https://www.excelsoftcorp.com/investors/ Details as required to be disclosed as per BSE’s Circular No. 20230714-34 dated July 14, 2023, and NSE’s Circular No. NSE /CML/2023/57 dated July 14, 2023, are as under: 1 Date of occurrence of Event / Information: November 05, 2026 2 Time of occurrence of Event/ Information: 18:01 (IST) Kindly take the above information on record. Thanking you, For Excelsoft Technologies Limited, (Formerly known as Excelsoft Technologies Private Limited) S M Adithya Jain, Company Secretary, Chief Compliance Officer and Chief Investor Relations Officer (ICSI Membership No.: A49042) Place: Mysuru Enclosed: Monitoring Agency report Kuvempunagar, Mysuru Hyderabad Noida Nikhil Plaza, 1310 & 1333, 2nd floor, IMAGE Incubation centre, Plot no. A 42/6, Suite No.401, Gaganachumbi Double Rd, Software Technology Parks of India, 4th Floor, Sector - 62, Block K, G & H Block, Kuvempu Nagara, Divyasree solitaire, Plot No. 14 & 15, Noida – 201301, Uttar Pradesh, India Mysuru-570 023, Karnataka, India Software Units layout, HITEC City, Madhapur, Hyderabad - 500081, Telangana, India Page | 1 Monitoring Agency Report No. CARE/PRO/GEN/2026-27/1086 The Board of Directors Excelsoft Technologies Limited 1-B, Hootagalli Industrial Area, Mysore, Karnataka 570018 November 05, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the IPO of Excelsoft Technologies Limited (“the Company”) We write in our capacity of Monitoring Agency for the IPO for the amount aggregating to Rs.180.00 crore of the Company and refer to our duties cast under Regulation 41 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 November 07, 2025. Request you to kindly take the same on records. Thanking you, Yours faithfully, Ashish Kashalkar Associate Director Ashish.Kashalkar@careedge.in Draft Monitoring Agency R Report of the Monitoring Agency Name of the issuer: Excelsoft Technologies Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: No deviation (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: Ashish Kashalkar Designation of Authorized person/Signing Authority: Associate Director 1) Issuer Details: Name of the issuer : Excelsoft Technologies Limited Name of the promoter : Dhananjaya Sudhanva, Lajwanthi Sudhanva, Shruthi Sudhanva and Pedanta Technologies Limited Industry/sector to which it belongs : Information Technology - IT Services - IT Enabled Services 2) Issue Details Issue Period : November 19, 2025 to November 21, 2025 Type of issue (public/rights) : Initial Public Offer (IPO) Type of specified securities : Equity shares IPO Grading, if any : Not Applicable Issue size (in crore) : Rs.180.00 crore 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 preparation Monitoring Agency Board of Directors of report During Q2FY27, the utilization of proceeds is as The Board of Directors, per the objects in the offer document. through a resolution However, there has been a delay in the passed at its meeting, utilization of funds for the objects ‘Funding approved the extension of expenditure for upgradation including external the implementation Prospectus^, Board Resolution, electrical systems of our Existing Facility at timeline to FY 2027, Chartered Accountant (CA) Mysore, India’, ‘Funding upgradation of our considering the time Whether all utilization is as per the disclosures in the No Certificate*, Bank statements, Company’s IT Infrastructure (Software, required for obtaining Offer Document? Supporting documents and Hardware and Communications & Network regulatory approvals, the Management confirmation Services)’ and ‘General Corporate Purpose’ as non-availability of per the prospectus. The company, via Board components meeting the Resolution dated March 27, 2026, has taken Company's specified approval from board for extension of timelines requirements, and for these objects. (Refer to No [Showing first 8,000 characters — download PDF for full document]