Monitoring Agency report

Date: November 11, 2026 Corporate Service Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001 BSE Scrip Code: 536659 Dear Sir/Madam, Subject: Submission of Monitoring Agency Report in respect of utilization of proceeds of the Rights Issue of PVV Infra Limited for the quarter ended September 30, 2026 Pursuant to Regulation 82(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”), please find enclosed herewith the Monitoring Agency Report dated 10th November 2026 issued by Acuité Ratings and Research Limited, Monitoring Agency, with respect to the utilization of proceeds of the Rights Issue of PVV Infra Limited for the quarter ended September 30, 2026. As noted in the Monitoring Agency Report: The utilization of Rights Issue proceeds is in line with the objects stated in the Offer Document; No deviation or variation from the disclosed objects has been observed; and The Company continues to maintain disciplined deployment and monitoring of funds in accordance with applicable regulatory requirements and stated business objectives. The submission is being made in compliance with applicable SEBI regulations for dissemination to stakeholders and for maintaining transparency with investors. You are requested to kindly take the above information on record. Thanking you, Yours faithfully, For PVV Infra Limited Akhilesh Kumar Company Secretary & Compliance Officer Encl.: Monitoring Agency Report issued by Acuité Ratings and Research Limited Report of the Monitoring Agency (MA) for Quarter ended September 30, 2026 Name of the issuer PVV Infra Limited For quarter ended September 2026 Name of the Monitoring Agency Acuité Ratings and Research Limited (a) Deviation from the objects No deviation is observed. (b) Range of Deviation Not applicable (c) Any other material fact to be highlighted None 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 “s”, 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: Signing Authority: Designation: Report Date: November 10, 2026 Acuité Ratings & Research Limited SEBI Registered | RBI Accredited 708, Lodha Supremus, Lodha iThink Techno Campus, Kanjurmarg (East), Mumbai – 400 042 +91 99698 98000 | www.acuite.in | info@acuite.in | CIN: U74999MH2005PLC155683 1 Issuer Details 1.1 Name of the issuer PVV Infra Limited 1.2 Names of the promoter Pinnamaneni Estates Private Limited and Mr. Veera Venkata Satyanarayana Pinnamaneni 1.3 Promoter Group - 1.4 Industry/sector to which it belongs Civil Construction / Construction 2 Issue Details 2.1 Issue Period February 13, 2026 to February 20, 2026 2.2 Type of issue Rights Issue 2.3 Type of specified securities Partly paid-up equity shares 2.4 IPO Grading, if any Not applicable 49.33 Details for amount raised as on September 30, 2026 Offer Price/Call Amount Raised Stage Equity Shares per share (INR) (INR Cr.) Issue Size 9,86,64,284 5.00 49.33 Application Money Received (25%) 9,86,64,284 1.25 12.33 2.5 Issue size (INR Cr.) First & Final Call Money Received 3,44,66,004 3.75 12.93 Total Funds Raised, including Fully Paid-up Equity Shares - - 25.26 (available for utilisation) Funds Raised, where Conversion and Requisite approvals - - 0.40 are pending Balance Potential Call Money, subject to receipt of - - 23.67 outstanding call money from shareholders 3. Details of the arrangement made to ensure the monitoring of issue proceeds Source of information/certifications Sr. Reply from the Comments of the Issuer’s Particulars considered by Monitoring Comments of the Monitoring Agency No. issuer Audit Committee Agency for preparation of report Whether all utilization is as per the disclosures in the Utilizations in the respective objects are 1 Yes Yes Offer Document? as per disclosures by the company. Whether shareholder approval has been obtained 2 in case of material deviations from expenditures Material deviation is not observed. Not applicable applicable disclosed in the Offer Document? Whether the means of finance for the disclosed 3 No No change is observed. Not applicable objects of the issue has changed? No deviation has been reported in any of the Monitoring Agency reports issued Is there any major deviation observed over the As per documents provided by for the preceding reporting periods. 4 earlier monitoring agency reports? No the Issuer including Bank Further, no other Monitoring Agency Not applicable Statements, Statutory Auditor’s has been appointed to monitor the Certificate issued by M/s P V G R objects of this issue. & Associates along with Whether all Government/statutory approvals Scrutinizer's Report dated No Government / Statutory approval is 5 No Not applicable related to the object(s) have been obtained? September 30, 2026, for the 31st required for objects. AGM, Stock Exchange No arrangement pertaining to Whether all arrangements pertaining to technical Disclosures, etc. 6 No technical assistance/collaboration is Not applicable assistance/collaboration are in operation? required with reference to the object. No favorable event is observed that Are there any favorable events improving the 7 No may improve the viability of these None viability of these object(s)? objects. Are there any unfavorable events affecting the No unfavorable event is observed 8 No None viability of the object(s)? affecting the viability of these objects. Is there any other relevant information that may No relevant information is evident that 9 materially affect the decision making of the No may materially affect the decision None investors? making of the investors. 4. Details of object(s) to be monitored: i. Cost of object(s): Source of Original cost Comments of the Issuer’s Audit Committee information/certifications (as per the Revised Sr. Comments of the Item Head* considered by Monitoring Offer Cost No. Agency for preparatio [Showing first 8,000 characters — download PDF for full document]