Monitoring Agency Report

~$Biocon Biocon Limited 20th KM, Hosur Road Electronic City Bangalore 560 100, India T: 91 80 2808 2808 F: 91 80 2852 3423 CIN: L24234KA1978PLC003417 www.biocon.com BIO/SECL/TG/2026-27/50 August 05, 2026 To, To, The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Department of Corporate Services Corporate Communication Department Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex Dalal Street, Mumbai – 400 001 Mumbai – 400 051 Scrip Code – 532523 Scrip Symbol - Biocon Dear Sir/Madam, Subject: Monitoring Agency Report for the quarter ended on June 30, 2026 Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 173A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith the Monitoring Agency Report dated August 05, 2026 issued by India Ratings & Research Private Limited, Monitoring Agency, in respect of utilisation of proceeds raised through Qualified Institutions Placement by the Company, for the quarter ended June 30, 2026. The Audit Committee and Board of Directors of the Company have reviewed and took note of the Monitoring Agency Report at their respective meetings held today i.e., on August 05, 2026. The above-mentioned information will also be available on the website of the Company at www.biocon.com. Kindly take the above information on record and acknowledge. Thanking You, For Biocon Limited Rajesh U. Shanoy Company Secretary and Compliance officer ICSI Membership Number: A16328 Encl: as above India Ratings Fitch Group &Researcn Date: 5th August 2026 Biocon Limited. 20th KM, Hosur Road, Electronic City, Bangalore, Karnataka - 560 100 Subject: Monitoring Agency Report for the quarter ended 30th June 2026 in relation to Qualified Institutions Placement (QIP). Dear Sir, Pursuant to Regulation 173A (2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations") and Monitoring Agency Agreement dated 31st December 2025, please find enclosed herewith the Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of QIP, for the quarter ended June 30, 2026. Request you to kindly take the same on records. Thanking You, For and on behalf of India Ratings & Research Private Limited Name: Shrikant Dev Designation: Company Secretary India Ratings & Research Private Limited A Fitch Group Company Wockhardt Towers, Level 4, West Wing, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Tel: +9122 4000 1700 Fax: +9122 4000 1701 CIN/LLPIN: U67100MH1995FTC140049 www.indiaratings.co.in India Ratings Fitch Group &Research Report of the Monitoring Agency (MA) Name of the issuer: Biocon Limited For quarter ended: 30th June 2026 Name of the Monitoring Agency: India Ratings & Research Private Limited (a) Deviation from the objects: No deviation from the objects. Based on the Management undertaking and as per the Statutory Auditor Certificate dated 3rd August 2026 issued by B S R & Co. LLP, Chartered Accountants (FRN - 101248W/W-100022) having UDIN 26405014TQIURX6893* and other documents provided to us, no deviation from the objects has been observed. *The reference to the Statutory Auditor Certificate anywhere in the MA report refers to the said Certificate. (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 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: SHRIKANT Digitally signed by SHRIKANT GANDHI GANDHI DEV DEV Date: 2026.08.05 16:19:04 +05'30' Name and designation ofthe Authorized Signatory: Shrikant Dev (Company Secretary) Date: 5th August 2026. Page 1 of 8 India Ratings Fitch Group &Researcli 1) Issuer Details: Name of the issuer: Biocon Limited Names of the promoters: • Kiran Mazumdar-Shaw • Glentec International Industry/sector to which it belongs: Biopharmaceuticals 2) Issue Details: Issue Period: 12th January 2026 to 14th January 2026 Type of issue (public/rights): Qualified Institutions Placement (QIP) Type of specified securities: 11,26,64,585 Equity Shares of FV" 5 each @ "368.35 per Equity Share. IPO Grading, if any: Not Applicable Issue size: INR 41,500.00 Million 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments certifications considered by Comments of the of the Particulars Reply Monitoring Agency for Monitoring Agency Board of preparation of report Directors Management undertaking, Whether all utilization is as per Statutory Auditor Certificate, No the disclosures in the Offer Yes No Comments Placement Document, Comments Document? Relevant Bank Statements Whether shareholder approval has been obtained in case of material deviations from NA Management undertaking No Comments Comments expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the No Management undertaking No Comments Comments issue has changed? Is there any major deviation observed over the earlier No NA No Comments Comments monitoring agency reports? Whether all Government/Statutory No NA Management undertaking No Comments approvals related to the Comments object(s) have been obtained? Page 2 of 8 India Ratings Fitch Group &Researcli Source of information / Comments certifications considered by Comments of the of the Particulars Reply Monitoring Agency for Monitoring Agency Board of preparation of report Directors Whether all arrangements pertaining to technical No NA Management undertaking No Comments assistance/collaboration are in Comments operation? Are there any favorable events improving the viability of these No Management undertaking No Comments Comments object(s)? Are there any unfavorable events affecting the viability of No Management undertaking No Comments Comments the object(s)? Is there any other relevant information that may materially No No Management under [Showing first 8,000 characters — download PDF for full document]