Monitoring Agency Report

Ref. No: PEL 72/2026-27 Date: November 10, 2026 To To The Secretary The Manager, BSE Limited Listing Department Phiroze Jeejeebhoy Towers, National Stock Exchange of India Limited Dalal Street, Exchange Plaza, C-1, G Block, Bandra-Kurla Mumbai – 400001 Complex, Bandra (East), Mumbai – 400 051 Scrip Code: 544238 Trading Symbol: PREMIERENE Dear Sir/Madam, Sub: Submission of Monitoring Agency Report pursuant to Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Monitoring Agency Report issued by CRISIL Ratings Limited, the Monitoring Agency, in respect of the utilisation of the proceeds of the Initial Public Offer of the Company for the quarter ended September 30, 2026. This is for your information and records. Thanking you, Yours truly, For Premier Energies Limited Hitesh Kumar Jain Company Secretary & Compliance Officer Monitoring Agency Report Premier Energies Limited for the quarter ended September 30, 2026 CRL/MAR/PRSSPL/2026-27/1994 November 10, 2026 Premier Energies Limited Plot No. 8/B/1 and 8/B/2, E- City, Maheshwaram Mandal, Raviryala Village, K.V. Rangareddy 501 359, Telangana, India Dear Sir, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Initial Public Offer (“IPO”) of Premier Energies 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 20, 2024, 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: Premier Energies Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: Utilization different from objects stated in the offer document but in line with change of objects approved by shareholders’ resolution. During the quarter ended March 31, 2025, location of the Project under Object 1 for establishing 4 GW solar PV cell, has been changed from Ranga Reddy District, Telangana to Tirupati District, Andhra Pradesh pursuant to the special resolution dated April 06, 2025. (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: Premier Energies Limited Names of the promoter: Mr. Surenderpal Singh Saluja, Mr. Chiranjeev Singh Saluja Industry/sector to which it belongs: Other Electrical Equipment 2) Issue Details Issue Period: Tuesday, August 27, 2024, to Thursday, August 29, 2024 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Rs 28,304 million (Fresh issue of Rs 12,914* million and OFS of Rs 15,390 million) *Note: Particulars Amount (Rs. million) Gross proceeds of the Fresh Issue 12,914.00# Less: Issue Expenses 525.11 Net Proceeds 12,388.89 #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 Comments certifications considered of the of the Particulars Reply by Monitoring Agency Monitoring Board of for preparation of report Agency Directors Management undertaking, Peer- reviewed Independent Chartered Accountant Whether all utilization is as per the No Yes certificate^, Prospectus disclosures in the Offer Document? Comments dated August 29, 2024 (hereinafter referred to as Refer note 1 “Offer document”), Bank Statements Whether shareholder approval has been obtained in case of material deviations from No expenditures disclosed in the Offer Comments Document? Whether the means of finance for the No No disclosed objects of the issue has changed? Comments Comments Is there any major deviation observed over No No the earlier monitoring agency reports? Comments Comments Whether all Government/statutory approvals related to the object(s) have been No Refer note 2 Management Comments obtained? undertaking, Peer- Whether all arrangements pertaining to reviewed Independent No No technical assistance/collaboration are in NA Chartered Accountant Comments Comments operation? certificate^ Are there any favorable events improving the No No viability of these object(s)? Comments Comments Are there any unfavorable events affecting No No the viability of the object(s)? Comments Comments Is there any other relevant information that No No may materially affect the decision making of No Comments Comments the investors? NA represents Not Applicable ^Certificate dated October 27, 2026, issued by M/s Manian & Rao, Chartered Accountants (Firm Registration Number: 001983S), Peer-reviewed Independent Chartered Accountants. Note 1: During the quarter ended March 31, 2025, Shareholder’s approval has been obtained vide special resolution dated April 06, 2025 (Postal Ballot Notice dated March 07, 2025), for change in location of the Project under Object 1 for establishing 4 GW solar PV cell from UDL-5 Part at Industrial Park, Seetharampur, Ranga Reddy District, Telangana, as disclosed in the Offer document, to Industrial Park, Naidupeta Village, Tirupati district, [Showing first 8,000 characters — download PDF for full document]