Monitoring Agency Report

PDS/SE/2026-27/52 August 7, 2026 Listing Department Corporate Relationship Department 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 Scrip Symbol: PDSL Scrip Code: 538730 Re: ISIN - INE111Q01021 Sub: Monitoring Agency Report for the quarter ended on June 30, 2026. Dear Sir/ Madam, Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 173A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we hereby submit the Monitoring Agency Report for the quarter ended June 30, 2026, issued by CRISIL Ratings Limited, the Monitoring Agency appointed to oversee the utilization of proceeds raised through the Qualified Institutional Placement (QIP). The aforesaid report has been duly reviewed and taken on record by the Audit Committee and the Board of Directors at their respective meetings held on August 7, 2026. The Monitoring Agency has confirmed that there has been no deviation in the utilization of proceeds from the QIP. You are requested to kindly take the above information on record and disseminate the same to the stakeholders. Thanking you, Yours faithfully, for PDS Limited Abhishekh Kanoi Group General Counsel & Company Secretary ICSI Membership No.: F-9530 Encl.: As above Monitoring Agency Report PDS Limited for the quarter ended June 30, 2026 CRL/MAR/PDMUFL/2026-27/1860 August 07, 2026 PDS Ltd 971, Solitaire Corporate Park, Andheri Ghatkopar Link Road, Andheri East, Mumbai – 400093, Maharashtra, India Dear Sir, Sub: Monitoring Agency Report for the quarter ended June 30, 2026 in relation to the Qualified Institutional Placement (QIP) of PDS Limited (“the Company”) Pursuant to Regulation 173A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated August 22, 2024 entered with the Company, 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 QIP 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: PDS Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: Not applicable (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 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: PDS Limited Names of the promoter: a. Mrs. Payel Seth b. Mr. Deepak Kumar Seth c. Mrs. Pallak Seth d. Mr. Pulkit Seth Industry/sector to which it belongs: Trading - Textile Products 2) Issue Details Issue Period: Thursday, August 22, 2024, to Tuesday, August 27, 2024 Type of issue: Qualified Institutional Placement Type of specified securities: Equity Shares IPO Grading, if any: Not applicable Issue size: Rs 43,000 lakhs. (Refer Note) Note: Particulars Amount as per Placement Document (Rs In lakhs) Gross Proceeds 43,000.00# Less: Offer Expenses 1,944.04* Net Proceeds 41,055.96 #Crisil shall be monitoring the gross proceeds amount. *As per the placement document dated August 27, 2024, the approximate issue related expenses are Rs 1,944.04 lakhs. The cumulative issue expenses incurred as at the quarter ended June 30, 2026 is Rs 1,858.49 lakhs and the remaining Rs 85.55 lakhs is unspent and lying as balance in Company’s Monitoring Account and fixed deposits, as per management undertaking & certificate dated July 17, 2026 issued by M/s MLR and Associates LLP, Chartered Accountants (Firm Registration Number: 138605W), Peer Reviewed Independent Chartered Accountant. 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 the Board of by Monitoring Agency Monitoring Agency Directors for preparation of report Bank Statements, Placement Document dated No utilization August 27, 2024 (hereinafter towards the objects referred to as “Placement Whether all utilization is as per the of the issue and issue Yes document”), Management No comments disclosures in the Placement Document? expenses during the Undertaking, quarter ended June Peer Reviewed Independent Chartered 30, 2026 Accountant Certificate^ Whether shareholder approval has been obtained in case of material deviations# NA No comments No comments from expenditures disclosed in the Placement Document? Whether the means of Finance for the disclosed objects of the issue has No No comments No comments changed? Is there any major deviation observed over the earlier monitoring agency No Management No comments No comments reports? Undertaking, Peer Reviewed Approval from NSE, Independent Chartered Whether all Government/statutory BSE, NSDL, CDSL, and Accountant Certificate^ approvals related to the object(s) have Yes Registrar of Companies No comments been obtained? have been obtained by the Company Whether all arrangements pertaining to technical assistance/collaboration are in NA No comments No comments operation? Are there any favourable events No No comments No comments improving the viability of these object(s)? Are there any unfavourable events No No comments No comments affecting the viability of these object(s)? Is there any other relevant information that may materially affect the decision No No comments No comments making of the investors? NA represents Not Applicable ^Certificate dated July 17, 2026 issued by M/s MLR and Associates LLP, Chartered Accountants (Firm Registration Number: 138605W), Peer Reviewed Independent Chartered [Showing first 8,000 characters — download PDF for full document]