Monitoring Agency Report for the quarter ended June 30, 2026.

August 03, 2026 Listing Compliance Department Listing Compliance Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C/1. G Block, Dalal Street, Bandra -Kurla Complex, Bandra (East), Mumbai - 400 001. Mumbai- 400051. Scrip Code: 543280 Scrip Symbol: NAZARA Dear Sir/Madam, Subject: Monitoring Agency Report for the quarter ended on June 30, 2026 With reference to the above subject, pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with Regulation 162A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”), we are enclosing the Monitoring Agency Report of the Company for the quarter ended June 30, 2026, issued by ICRA Limited, the Monitoring Agency, appointed by the Company to monitor the utilisation of proceeds raised through the issuance and allotment of 50,00,000 fully paid up Equity Shares of the Company having face value of INR 4/- each at a price of INR 990/- (including a premium of INR 986/-) per equity share, by way of Preferential Issue under Chapter V of SEBI ICDR Regulations. You are requested to take the same on record. Thanking you. Yours faithfully, For Nazara Technologies Limited Arun Bhandari Company Secretary and Compliance Officer Encl. As above ICRA Limited Date: August 03, 2026 Mr. Rakesh Shah Chief Financial Officer Nazara Technologies Limited 11th Floor Avighna House, Dr Annie Besant Road, Worli Naka Mumbai – 400018 Dear Sir, Re: Final Monitoring Agency report of Nazara Technologies Limited for Q1 FY2027 Please refer to agreement dated January 29, 2025, appointing ICRA Limited as the Monitoring Agency (MA) for Nazara Technologies Limited’s Preferential Issue. After due consideration, ICRA has prepared the attached final Monitoring Agency report as per SEBI (Issue of Capital and Disclosure Requirements) Regulations for Q1 FY2027. Please note that the Monitoring Agency report does not constitute a commentary on the quality of the objects of the issue, appropriateness or reasonableness of costs or spending by Nazara Technologies Limited against any objects / heads or assurance on outcome of such spending. We thank you for your kind cooperation extended during the course of Q1 FY2027. Should you require any clarification, please do not hesitate to get in touch with us. We look forward to your communication and assure you of our best services. With kind regards For ICRA Limited Parul Goyal Narang Vice President & Head- Process Excellence Parul.goyal@icraindia.com Building No. 8, 2nd Floor, Tower A Tel.: +91.124 .4545300 Website: www.icra.in DLF Cyber City, Phase II CIN : L749999DL1991PLC042749 Email: info@icraindia.com Gurugram – 122002, Haryana Helpdesk: +91 9354738909 Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel. :+91.11.23357940-41 RATING ● RESEARCH ● INFORMATION Sensitivity Label : Confidential June 2026 MONITORING AGENCY REPORT FORMAT Name of the Issuer: Nazara Technologies Limited For the Quarter ended: June 30, 2026. Name of the Monitoring Agency (MA): ICRA Limited (a) Deviation from the objects of the issue: No deviation - the utilization of the issuance proceeds is in line with the objects of the issue. (b) Range of deviation: No deviation 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 creditrelated 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: Parul Goyal Narang Vice President & Head- Process Excellence Analyst: Subhechha Banerjee Quality Analyst: Parul Narang Sensitivity Label : Confidential June 2026 1. Issuer Details Name of the Issuer: Nazara Technologies Limited Name(s) of the promoter: Promoters Nitish Mittersain Vikash Mittersain Mitter Infotech LLP Plutus Wealth Management LLP Axana Estates LLP Source: BSE Industry/ sector to which it belongs: - Software. 2. Issue Details Issue Period: Opening Date: NA Closing Date: NA Type of Issue: Preferential Issue Type of specified securities: Preferential issue of Equity Shares IPO Grading, if any: Not Applicable Issue Size (Rs. Crore): Issue Size: INR 495.00 crores (50,00,000 fully paid-up Equity Shares of INR 990.00 each including premium of INR 986.00 each) With OFS portion: Not Applicable. Excluding OFS portion: Not Applicable Gross Proceeds: INR 495.00 Crore. Note: Issue related expenses incurred till Q1FY27 are INR 0.38 Crore. ICRA will be monitoring the Proceeds of INR 495.00 Crore. Sensitivity Label : Confidential June 2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds Source of information, Comments of certifications considered by Comments of the Monitoring the Issuer’s Particulars Reply the Monitoring Agency for Agency Board of the preparation of report Directors -Peer reviewed CA Certificate -Confirmation from Whether all utilization is as per management the disclosures in the Offer Yes -Bank Statement No deviation observed Document? -Offer Letter -Notice of EOGM held on February 13, 2025 Whether shareholder approval has been obtained in case of Not As confirmed by the Issuer’s material deviations# from No comments Applicable management expenditures disclosed in the Offer Document? Whether the means of finance As confirmed by the Issuer’s for the disclosed objects of the No No comments management issue has changed? Is there any major deviation observed over the earlier No No deviation observed No comments monitoring agency reports? Whether all Government/ statutory approvals related to Not As confirmed by the Issuer’s No comments the object(s) have been Applicable management obtained? Whether all arrangements pertaining to technical Not As confirmed by the Issuer’s No comments assistance/ collaboration are in Applicable management operation? Are there any favorable events As confirmed by the Issuer’s As understood from the improving the viability of these No management Issuer’s management object(s)? Are there any unfavorable As confirmed by the Issuer’s As understood from the events affectin [Showing first 8,000 characters — download PDF for full document]