Monitoring Agency Report for the quarter ended September 30, 2026, on the utilization of proceeds raised through issuance of equity shares by way of Public Issue of the Company.

FC/SE/2026-27/57 November 14, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C – 1, Block G, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (E), Dalal Street, Mumbai-400051 Mumbai-400001 Symbol: FIRSTCRY Scrip Code: 544226 Sub: Monitoring Agency Report for the quarter ended September 30, 2026 on the utilisation of proceeds raised through issuance of equity shares by way of Public Issue of the Company Dear Sir/Ma’am, Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please see enclosed the Monitoring Agency Report issued by the ICRA Limited (Monitoring Agency) in respect to utilization of the proceeds raised through issuance of equity shares by way of Public Issue of the Company, for the quarter ended September 30, 2026. We request you to kindly take the aforesaid information on record. Thanking you, Yours sincerely, For Brainbees Solutions Limited Mandar Joshi Company Secretary & Compliance Ofiicer Encl.: a/a Brainbees Solutions Limited CIN: L51100PN2010PLC136340 Corporate/Registered Office:- Rajashree Business Park, Plot No. 114, Survey No. 338, Tadiwala Road, Nr. Sohrab Hall, Pune – 411001 Contact: +91-8482989157 Email Id:legal@firstcry.com Website: www.firstcry.com September2026 MONITORING AGENCYREPORT Name of the Issuer:BRAINBEES SOLUTIONS LIMITED For quarter ended: September30, 2026 Name of the Monitoring Agency (MA):ICRA Limited (a) Deviation from the objects of the issue: Nodeviation -the utilization of the issuance proceeds is in line with the objects of the issue. (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 relatedanalyses. 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 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 Signature: Suprio Banerjee Vice President Analyst:Dhwani Vinchhi Quality Analyst:Parul Narang Sensitivity Label : Public September2026 1. IssuerDetails Name of the Issuer: BRAINBEES SOLUTIONS LIMITED Name(s) of the promoters: Promoters Source: BSE Industry/ sector to which it belongs:E-Retail/ E-Commerce 2. Issue Details Issue Period:Openingdate-August 6, 2024 Closingdate-August 8, 2024 Type of Issue:Initial Public Offer Type of specified securities:Equity shares IPO Grading, if any: No credit rating agency registered with SEBI has been appointed in respect ofobtaininggrading for theoffer. Issue Size (Rs. Crore):4,193.728 With OFS portion:INR 4,193.728Crore Excluding OFS portion:INR1,666.000Crore. Net proceedsas per Prospectus:INR 1,601.735Crore(Excluding Issue Related Expenses) Note:ICRA has monitoredINR 1,666.000 crore in Q2FY2027 Sensitivity Label : Public September2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds. Source of information, Comments of certifications considered Comments of the Particulars Reply by the Monitoring Monitoring Board of Agency for the Agency Directors preparation of report -Statutory Auditor approval for the Certificate proposed change -Confirmation from in deployment of Whether all utilization is as per the management funds has been Yes No comments disclosures in the Offer Document? -Bank statement of the obtained at the proceed account/ AGM held on September 22, corresponding bank 2026. statements Whether shareholder approval has been obtained in case of material Not As confirmed by the No comments No comments deviations#from expenditures Applicable disclosed in the Offer Document? Whether the means of finance for Not As confirmed by the the disclosed objects of the issue No comments No comments Applicable has changed? Is there any major deviation observed over the earlier No No deviation observed. No comments No comments monitoring agency reports? Whether all Government/ statutory Not As confirmed by the approvals related to the object(s) No comments No comments Applicable have been obtained? Whether all arrangements Not As confirmed by the pertaining to technical assistance/ No comments No comments Applicable collaboration are in operation? Are there any favorable events As understood As confirmed by the improving the viability of these No No comments object(s)? management Are there any unfavorable events As understood As confirmed by the affecting the viability of the No No comments object(s)? management Is there any other relevant As understood information that may materially As confirmed by the No No comments affect the decision making of the management investors? #Where material deviation is defined to mean: (a) Deviation in the objects or purposes for which the funds had been raised. (b) Deviation in the amount of funds utilizedby more than 10% of the amount specified in the offer document. Sensitivity Label : Public September2026 4. Details of the object(s) to be monitored. (i) Cost of object(s) Source of information, Directors Original certifications Comments cost (as per Revised considered by of the Particulars of S.N. Item Head the offer cost Reason Proposed the Monitoring Monitoring firm document) [Rs. Crore] for cost financing Agency for the Agency arrangements [Rs. Crore] revision option preparation of made report Expenditure by Company No I Prospectus 108.100 66.148 No comments for: Comments Setting up new modern (a) Prospectus 93.900 9.819 No comments Comments brand (b) Setting up a warehouse Prospectus 14.200 0.00 No comments Comments Amended object as per Notice of AGM Setting up of new Notice of (b1) held on 22ndSep - 56.329 warehouses in India AGM held 2026 on 22ndsep 2026 Expenditure for lease payments for existing II identified modern stores Prospectus 93.100 No change No comments Comments owned and operated by Company, in India Investment in Subsidiary, No III Prospectus 299.600 383.681 No comments Digital Age for Comments Setting up new modern stores under the FirstCry No (a) Prospectus 169.000 253.081 No comments brand and other home Comments brands of Company Lease payments for existing identified modern stores No (b) Prospectus 130.600 No change No comments owned and controlled by Comments Digital Age in India Investment in Subsidiary, IV FirstCry Trading for Prospectus 155.600 23.471 No comments Comments overseas expansion by: Setting up new modern No (a) Prospectus [Showing first 8,000 characters — download PDF for full document]