Monitoring Agency Report

Date: August 10, 2026 BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Wing, Rotunda Building Exchange Plaza, 5th Floor, C-1, Block G, Bandra- Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Kurla Complex, Mumbai-400051 Mumbai – 400001 cmlist@nse.co.in corp.relations@bseindia.com Trading Symbol-EXICOM SCRIP Code- 544133 RE: Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”), and Regulation 41(4) of the Securities and Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”) Subject: Submission of Monitoring Agency Report on utilization of IPO and Pre-IPO Placement Proceeds for the quarter ended June 30, 2026 Dear Sir/Madam, Pursuant to Regulation 32(6) of the SEBI Listing Regulations and Regulation 41(4) of the SEBI ICDR Regulations, please find enclosed the Monitoring Agency Report dated August 10, 2026, issued by CARE Ratings Limited, the Monitoring Agency appointed to monitor the utilization of proceeds raised through the Initial Public Offer (“IPO”) and Pre-IPO Placement, for the quarter ended June 30, 2026. The aforesaid Monitoring Agency Report was reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at their respective meetings held today, i.e., August 10, 2026. We would like to inform you that the Company has fully utilised the proceeds raised through the IPO and Pre- IPO Placement and no amount remains unutilised as on date. Accordingly, no further Monitoring Agency Reports in respect of the IPO and Pre-IPO Placement will be required to be submitted by the Company henceforth. The above is for your information and record. Thanking you. Yours faithfully, For Exicom Tele-Systems Limited Sangeeta Karnatak Company Secretary & Compliance Officer Enclosed: As above No. CARE/NRO/RL/2026-2027/1866 The Board of Directors Exicom Tele-Systems Limited Industrial Plot 2A, Sector-18, Gurgaon, Haryana - 122015 August 10, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the IPO and Private Placement of Equity Shares of Exicom Tele-Systems Limited (“the Company”) We write in our capacity of Monitoring Agency for the Initial Public Offer and Private Placement for the amount aggregating to Rs. 400 crore of the Company and refer to our duties cast under 41 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ending June 30, 2026 as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated April 04, 2024. Request you to kindly take the same on records. Thanking you, Yours faithfully, Sahil Goyal Associate Director Sahil.Goyal@careedge.in CARE Ratings Limited 9th floor, C-001/A2, Berger Towers, Sector 16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Road, Off Eastern Express Highway, Sion (East), Gautam Budh Nagar, Uttar Pradesh -201301 Mumbai - 400 022 Phone: +91-120-4452000 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in C IN-L67190MH1993PLC071691 1 Report of the Monitoring Agency Name of the issuer: Exicom Tele-Systems Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil (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: Name and designation of the Authorized Signatory: Sahil Goyal Designation of Authorized person/Signing Authority: Associate Director CARE Ratings Limited 9th floor, C-001/A2, Berger Towers, Sector 16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Road, Off Eastern Express Highway, Sion (East), Gautam Budh Nagar, Uttar Pradesh -201301 Mumbai - 400 022 Phone: +91-120-4452000 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in C IN-L67190MH1993PLC071691 2 1) Issuer Details: Name of the issuer : Exicom Tele-Systems Ltd Name of the promoter : NextWave Communications Private Limited Industry/sector to which it belongs : Telecom – Equipment & Accessories- Telecom – Equipment & Accessories 2) Issue Details Issue Period : December 27, 2023 (Private Placement Issue Date) & February 27, 2024 to February 29, 2024 (Public Issue) Type of issue (public/rights) : Public and Private placement Type of specified securities : Equity Shares IPO Grading, if any : Not applicable Issue size (in crore) : Rs. 400.00 crore 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Board of Monitoring Agency preparation of report Directors Chartered Accountant certificate*, Bank Funds have been Whether all utilization is as per the disclosures in the Offer Document? No statement and Placement Document, Refer Note 1 given below the table. utilized for earmarked Management Certificate objects. Whether shareholder approval has been obtained in case of No Material deviation material deviations# from expenditures disclosed in the Offer Document? Not applicable Management Certificate Nil Whether the means of finance for the disclosed objects of the issue have changed? No Management Certificate Nil Is there any major deviation observed over the earlier monitoring Chartered Accountant certificate*, Bank No deviations observed over earlier agency reports? No statement, Prior Monitoring Agency Reports monitoring agency reports Yes, all necessary Whether all Government/statutory approvals related to the object(s) approvals have been have been obtained? Yes Management Certificate Nil obtained Whether all arrangements pertaining to technical assistance/collaboration are in operation? Yes Management Certificate Nil CARE Ratings Limited 9th floor [Showing first 8,000 characters — download PDF for full document]