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

JAIN RESOURCE RECYCLING LIMITED (Formerly Known as Jain Resource Recycling Private Limited) Date: August 6, 2026 JRRL/2026-27/0048 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 SYMBOL: JAINREC SCRIP CODE: 544537 Dear Sir/Ma’am Subject: Monitoring Agency Report for the quarter ended June 30, 2026 Pursuant to Regulation 32(6) of Securities and Exchange Board of India (“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 find enclosed the Monitoring Agency Report issued by CRISIL Ratings Limited (Monitoring Agency), on utilization of the proceeds raised through issuance of equity shares by way of Initial Public Offering (“IPO”) of the Company for the quarter ended June 30, 2026 (“Monitoring Agency Report”), duly reviewed and taken on record by the Audit Committee and Board of Directors of the Company on August 3, 2026. Further, we hereby confirm that there has been no deviation in the utilization of Issue proceeds from the objects as stated in the Prospectus of the Initial Public Offer Kindly take the above information on record. Yours faithfully, For JAIN RESOURCE RECYCLING LIMITED ARAVINDKUMAR V COMPANY SECRETARY AND COMPLIANCE OFFICER Registered Office: THE LATTICE, Old No. 7/1, New No. 20, 4th Floor, Bishop Ezra Sargunam Road, Kilpauk, Chennai 600 010, T.N, India Unit I : D-12, SIPCOT lndl. Complex, Gummidipoondi, Thiruvallur, 601 201, T.N, India Unit II : Plot No. R1 - R3, Pappankuppam Village, SIPCOT Ind!. Complex, Gummidipoondi, Thiruvallur, 601 201, T.N, India T: +91 44 4340 9494 E: info@jainmetalgroup.com W: www.jainmetalgroup.com CIN No. L27320TN2022PLC150206 Monitoring Agency Report Jain Resource Recycling Limited for the quarter ended June 30, 2026 CRL/MAR/ JARRPL/2026-27/1921 August 06, 2026 Jain Resource Recycling Limited The Lattice, Old no 7/1, New No 20, 4th Floor, Bishop Ezra Sargunam Road, Kilpauk, Chennai, Tamil Nadu – 600010, India Dear Sir, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Initial Public Offer (“IPO”) of Jain Resource Recycling Limited (“the Company”) Pursuant to Regulation 41 (2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated September 18, 2025, enclosed herewith the Monitoring Agency Report, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of IPO for the quarter ended June 30, 2026. Request you to kindly take the same on records. Thanking you, For and on behalf of Crisil Ratings Limited Shounak Chakravarty Director, Ratings (LCG) Report of the Monitoring Agency (MA) Name of the issuer: Jain Resource Recycling Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: No, (Refer note 1 below) (b) Range of Deviation: percentage deviation from the amount of issue proceeds earmarked for the object - (Refer note 1 below) Note 1: During the quarter ended December 31, 2025, the Company had utilized Rs 54.00 crore from General Corporate Purposes towards part repayment of an unsecured loan availed from a promoter/director, which was not in line with the “Other Confirmations” section of the Prospectus stating that “no part of the net proceeds shall be paid to promoters, promoter group, directors or related parties of the company.” consequently, it was accordingly treated as a deviation in utilisation of issue proceeds. Further, during the quarter ended March 31, 2026, the Company has obtained shareholders’ approval in the last quarter, vide resolution dated April 26, 2026, ratifying the aforesaid utilisation of funds under the General Corporate Purposes head towards repayment of loan to promoter. 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 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: Name and designation of the Authorized Signatory: Shounak Chakravarty Designation of Authorized person/Signing Authority: Director, Ratings (LCG) 1) Issuer Details: Name of the issuer: Jain Resource Recycling Limited Names of the promoter: Mr. Kamlesh Jain Industry/sector to which it belongs: Diversified Metals 2) Issue Details Issue Period: Wednesday, September 24, 2025, to Friday, September 26, 2025 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Rs 5,000.00 million* *Note: The Prospectus dated September 26, 2025, filed by the company, mentions Rs 658.92 million as the total amount towards issue expenses in following manner. Amount as per Revised Amount Particulars Prospectus (Rs in million) (Rs in million) Gross proceeds of the Fresh Issue 5,000.00# 5,000.00# Less: Issue Expenses 658.92 263.57$ Net Proceeds 4,341.08 4,736.43 #Crisil Ratings shall be monitoring the gross proceeds. $Refer Note 2 on page 7 of the Report 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, Proceeds were Peer-reviewed Independent utilised towards Whether all utilization is as per Chartered Accountant Issue expense as per No the disclosures in the Offer Yes certificate^, Prospectus dated the offer document comments Document? September 26, 2025, dated September 26, (hereinafter referred as “Offer 2025 document”), Bank Statements Whether shareholder approval has been obtained in case of (Refer No material deviations# from No Note 1 above) comments expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the issue No No comments comments has changed? Is there any majo [Showing first 8,000 characters — download PDF for full document]