Statement of deviation(s) or variation(s) under Reg. 32

M&B Engineering Ltd. Registered Office: ‘MB House', 51, Chandroday Society, Stadium Road, Naranpura, Ahmedabad - 380 014, Gujarat, India CIN: L45200GJ1981PLC004437 I T: +91 79 2640 5563/ 2646 1314 | E: info@mbphenix.com / info@mbproflex.com Web.: www.mbel.in 10th August, 2026 To, To National Stock Exchange of India Limited BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai – 400051 S ymbol: MBEL Script Code: 544470 Dear Sir/Madam, Sub: Statement of deviation or variation in the use of proceeds of Initial Public Offer of M & B Engineering Limited Pursuant to the aforesaid SEBI Listing Regulations, we request you to note that there are no deviation(s) or variation(s) in respect of utilization of proceeds of Initial Public Offer (‘IPO’) of the Company for the quarter ended 30th June, 2026 as mentioned in the object clause of the offer letter of the IPO. In this regard, please find enclosed herewith the said statement at Annexure-1. You are requested to kindly note the above. Thanking you, Yours faithfully, for M & B ENGINEERING LIMITED PALAK DILIPBHAI PAREKH COMPANY SECRETARY & COMPLIANCE OFFICER (M. No. F10209) M&B Engineering Ltd. Registered Office: ‘MB House', 51, Chandroday Society, Stadium Road, Naranpura, Ahmedabad - 380 014, Gujarat, India CIN: L45200GJ1981PLC004437 I T: +91 79 2640 5563/ 2646 1314 | E: info@mbphenix.com / info@mbproflex.com Web.: www.mbel.in Annexure-1 Disclosure of Statement of Deviation / Variation in utilisation of funds raised: Name of listed entity M & B Engineering Limited Mode of Fund Raising Public Issues Date of Raising Funds 04-08-2025 (Date of Allotment of Shares) Amount Raised Rs. 275 Crores (Fresh Issue) Report filed for Quarter ended 30-06-2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable Crisil Ratings Limited Is there a Deviation / Variation in use of funds No raised If yes, whether the same is pursuant to change in Not Applicable terms of a contract or objects, which was approved by the shareholders If Yes, Date of shareholder Approval Not Applicable Explanation for the Deviation / Variation Not Applicable Comments of the Audit Committee after review Not Applicable Comments of the auditors, if any Not Applicable Objects for which funds have been raised and where there has been a deviation, in the following table Original Modified Original Modified Funds Amount of Remarks Object Object, if Allocation allocation, Utilised Deviation/Variation if any any (Rs. In if any for the quarter Crores) according to applicable object Funding the Not 130.58 Not 23.75 Not Applicable - capital Applicable Applicable expenditure requirements for the purchase of equipment and machinery, building works, solar rooftop grid and transport vehicles at our Manufacturing Facilities Investment in Not 5.20 Not - Not Applicable - information Applicable Applicable technology M&B Engineering Ltd. Registered Office: ‘MB House', 51, Chandroday Society, Stadium Road, Naranpura, Ahmedabad - 380 014, Gujarat, India CIN: L45200GJ1981PLC004437 I T: +91 79 2640 5563/ 2646 1314 | E: info@mbphenix.com / info@mbproflex.com Web.: www.mbel.in (“IT”) software upgradation by our Company; Re-payment Not 58.75 Not 58.75 Not Applicable - or pre- Applicable Applicable payment of term loans, in full or in part, of certain - borrowings availed by our Company; and General Not 64.79 Not 64.18 Not Applicable - corporate Applicable Applicable purposes. for M & B ENGINEERING LIMITED PALAK DILIPBHAI PAREKH COMPANY SECRETARY & COMPLIANCE OFFICER (M. No. F10209)