Monitoring Agency Report

DCX SYSTEMS LIMITED CIN: L31908KA2011PLC061686 An AS 9100D Certified Regd. Off. Add.: Aerospace SEZ Sector, Plot Nos. 29,30 and Email:cs@dcxindia.co m 107, Hitech Defence and Aerospace Park, Kavadadasanahalli, Tel: 080-67119555 Bengaluru Rural – 562110, Karnataka, India. Web:www.dcxindia.com November 11, 2026 BSE Limited National Stock Exchange of India Ltd P J Towers Exchange Plaza, C-1, Block G Dalal Street, Fort Bandra Kurla Complex, Bandra (E) Mumbai – 400001 Mumbai – 400051 Scrip Code – 543650 Symbol – DCXINDIA Dear Sir/Madam, Sub: Monitoring Agency Report for the quarter ended September 30, 2026 Pursuant to Regulation 32(6) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2015, we are enclosing herewith the Monitoring Agency Report for the quarter ended September 30, 2026, issued by CARE Ratings Limited, Monitoring Agency, with respect to utilization of proceeds of the Initial Public Offering (IPO) and Qualified Institutional Placement (QIP) of the Company. We wish to inform the Stock Exchanges that the Company has fully utilised the proceeds raised through its Initial Public Offering (IPO), and no amount remains unutilised as on date. Accordingly, the Company is no longer required to submit Monitoring Agency Report in respect of the IPO henceforth since the entire IPO proceeds have been utilised for the objects as disclosed in the offer documents You are requested to take the same on your records. Thanking you, Yours faithfully, For DCX Systems Limited Gurumurthy Hegde Company Secretary, Legal and Compliance Officer Monitoring Agency Report No. CARE/BRO/GEN/2026-27/1007 The Board of Directors DCX Systems Limited Aerospace SEZ Sector, Plot Nos.29,30 And 107, Hitech Defence And Aerospace Park, Kavadadasanahalli, Bangalore Rural, Karnataka 562110 November 11, 2026 Dear Sir, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Initial Public Offerings (IPO) of DCX Systems Limited (“the Company”) We write in our capacity of Monitoring Agency for the Fresh Issue of 1,93,23,671 shares for the amount aggregating to Rs. 400.00 crore of the Company and refer to our duties cast under 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 September 29, 2022. Request you to kindly take the same on records. Thanking you, Yours faithfully, Himanshu Jain Associate Director himanshu.jain@careedge.in Report of the Monitoring Agency Name of the issuer: DCX Systems Ltd For quarter ended: September 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: No (b) Range of Deviation: Nil 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: Himanshu Jain Designation of Authorized person/Signing Authority: Associate Director 1) Issuer Details: Name of the issuer : DCX Systems Ltd Name of the promoter : Dr. H S Raghavendra Rao, NCBG Holdings Inc and Raneal Technologies Private Limited Industry/sector to which it belongs : Aerospace and Defence 2) Issue Details Issue Period : October 31, 2022 to November 02, 2022 Type of issue (public/rights) : Public Fresh Issue Type of specified securities : Equity Shares IPO Grading, if any : Not applicable Issue size (in crore) : Rs. 400.00 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 Monitoring Agency Board of Directors preparation of report There was change in the amount within the objects specified in the offer document for which required shareholder approval was taken. Also, purpose of investment in its subsidiary Renal Advanced System Private Limited (RASPL) has been revised to loan RHP, Postal Ballot outcome repayment as against capital expenditure mentioned in published by the company on Whether all utilization is as per the disclosures in the Offer offer document. No BSE on May 6, 2024, board No comments Document? resolution dated February 12, There has been a delay in the utilisation of GCP 2026 proceeds against the expected timeline of March 2026. However, on February 12, 2026, the company has obtained board resolution for the extension of the timeline in the utilization of general corporate purpose till FY29. As per postal ballot dated May 06, 2024, the company has sought shareholder’s approval as per postal ballot dated May 06, 2024, for the reallocation of the funds Whether shareholder approval has been obtained in case of Postal Ballot Outcome published as mentioned below: material deviations# from expenditures disclosed in the Offer Yes by the company on BSE on May The amount to be invested in its subsidiary Raneal No comments Document? 6, 2024 Advanced Systems Private Limited (RASPL) is reduced to Rs. 19.80 crore from Rs. 44.88 crore. Consequently, the amount towards general corporate purpose (GCP) increased from Rs. 58.15 crore to Rs. 83.23 crore. Whether the means of finance for the disclosed objects of the No Postal Ballot outcome published Nil No comments 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 issue have changed? by the company BSE on May 6, 2024. Monitoring agency report dated Is there any major deviation observed over the earlier August 12, 2026, Board No No deviations. No comments monitoring agency reports? resolution dated February 12, 2026. Whether all Government/statutory approvals related to the Not Management certificate, RHP No approvals [Showing first 8,000 characters — download PDF for full document]