Statement of deviation or variation in utilisation of issue proceeds enclosed

Date: 10/08/2026 To, To, The Listing Compliance Department, The Listing Compliance Department, BSE Limited, National Stock Exchange of India Limited, P. J. Tower, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Mumbai – 400001 Bandra (East), Mumbai – 400051 Scrip Code: 534809 Symbol: PCJEWELLER Sub.: Statement of deviation or variation in utilization of issue proceeds Dear Sir / Ma’am, Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), we hereby confirm that there is no deviation or variation in the utilization of proceeds of the following preferential issues of: i) Fully Convertible Warrants from the objects stated in the Explanatory Statement to the Notice dated July 13, 2024 read with Corrigendum to the Notice dated July 29, 2024 of the Extra-Ordinary General Meeting of the Company held on August 08, 2024; and ii) Fully Convertible Warrants and Equity Shares from the objects stated in the Explanatory Statement to the Postal Ballot Notice dated July 10, 2025 read with Corrigendum to the Notice dated August 01, 2025. We also confirm that during the quarter ended June 30, 2026, the conversion of Fully Convertible Warrants allotted under the preferential issue as referred at (i) above is completed. Out of the total 48,08,02,500 Warrants allotted, 43,58,82,572 Warrants were converted into equity shares and balance 4,49,19,928 Warrants lapsed upon expiry of their tenure and the Company fully utilized the entire proceeds received from this issue. The statement of deviation or variation for the quarter ended June 30, 2026, duly reviewed by Audit Committee, is enclosed herewith in compliance with Regulation 32 of LODR Regulations. Kindly take note of the same. Thanking you, For PC Jeweller Limited (VISHAN DEO) Executive Director (Finance) & CFO DIN: 07634994 Encl.: As above PC Jeweller Limited Regd. Office : 2713, 3rd Floor, Bank Street, Karol Bagh, New Delhi-110005 Ph. : 011 - 49714971 Fax : 011 – 49714972 info@pcjeweller.com • www.pcjeweller.com • CIN : L36911DL2005PLC134929 Statement of deviation or variation in utilization of issue proceeds Name of listed entity PC Jeweller Limited Mode of Fund Raising Preferential Issue Date of Raising Funds April 10, 2026 Amount Raised (₹ in Crores) 447.60 Report filed for Quarter ended June 30, 2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable CARE Ratings Limited Is there a Deviation / Variation in use of funds No raised If yes, whether the same is pursuant to change Not Applicable in 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 None Comments of the Auditors, if any None Notes: 1) Pursuant to the shareholders’ approval dated August 08, 2024 and the In-Principle Approvals of BSE Limited and National Stock Exchange of India Limited dated September 27, 2024, the Company allotted total 48,08,02,500 Fully Convertible Warrants (“Warrants”) in two tranches (11,50,00,000 Warrants on September 30, 2024 and 36,58,02,500 Warrants on October 11, 2024) to the persons belonging to ‘Promoter Group and Non-Promoter, Public Category’, on receipt of 25% of the issue price of ₹ 56.20 per Warrant. Subsequently, the Company allotted total 329,68,94,040 (adjusted number pursuant to sub-division / split of face value of equity shares from ₹ 10/- each to ₹ 1/- each) equity shares in a total of 18 tranches upon conversion of 32,96,89,404 Warrants till the quarter ended March 31, 2026. During the quarter ended June 30, 2026, the Company further allotted 106,19,31,680 (adjusted number pursuant to sub- division / split of face value of equity shares from ₹ 10/- each to ₹ 1/- each) equity shares on April 10, 2026 upon conversion of 10,61,93,168 Warrants on receipt of balance 75% of the issue price per Warrant aggregating to ₹ 447.60 crore. With this last conversion dated April 10, 2026, out of the total 48,08,02,500 Warrants allotted, the conversion of 43,58,82,572 Warrants was successfully completed and the balance 4,49,19,928 Warrants lapsed upon expiry of their tenure. 2) Pursuant to the shareholders’ approval dated August 10, 2025 and the In-Principle Approvals of BSE Limited and National Stock Exchange of India Limited dated September 09, 2025, the Company on September 18, 2025 allotted 9,72,22,222 Fully Convertible Warrants (“Warrants”) on receipt of 25% of the issue price of ₹ 18/- per Warrant to the ‘Promoter’ and 18,05,55,555 equity shares on receipt of the issue price of ₹ 18/- per share to an entity belonging to ‘Non-Promoter, Public Category’. During the quarter ended June 30, 2026, no funds were raised pursuant to these issues. 3) The date of allotment of equity shares upon conversion of Warrants during the quarter, as mentioned in Note 1, has been taken as the date of raising funds. Objects for which funds have been raised and where there has been a deviation, in the following table: (₹ in Crores) Particulars Column A (Preferential issue approved by Column B (Preferential issues approved by shareholders on 08/08/2024)* shareholders on 10/08/2025)^ Date of raising funds 10/04/2026 - Original Object Repayment Working General Issue Repayment of Working Issue of Banker's Capital Corporate Related banker’s Capital Related Outstanding Requirement Purposes Expenses outstanding Requirement Expenses Debts debts including interest thereon Modified Object, if any NA NA NA NA NA NA NA Original Allocation 2,025.00 529.69 150.00 0.45 434.27 65.33 0.40 PC Jeweller Limited Regd. Office : 2713, 3rd Floor, Bank Street, Karol Bagh, New Delhi-110005 Ph. : 011 - 49714971 Fax : 011 – 49714972 info@pcjeweller.com • www.pcjeweller.com • CIN : L36911DL2005PLC134929 Modified allocation, if 2,022.73 529.10 149.83 0.45 NA NA NA Adjusted revised 1,954.84 582.01 164.81 0.45 NA NA NA allocation Funds Utilized 1,765.62 582.01 164.70 0.45 303.52 65.22 0.00 Amount of Deviation / Nil Nil Nil Nil Nil Nil Nil Variation for the quarter according to applicable object Remarks, if any Completed Completed Completed Complete Tentative Tentative Tentative in Q1 in Q1 in Q1 d in Q4 timeline for timeline for timeline for FY2027 FY2027 FY2027 FY2026 utilization of utilization of utilization of funds as funds as funds as approved by approved by approved by Members is by Members is by Members is September 30, March 31, by March 2026. 2027. 31, 2027. * Refer Note 1 above ^ Refer Note 2 above Notes: 1) Modification in allocated amount in Column A was due to under subscription of preferential issue of Warrants. The Company later adjusted the modified allocation amount towards the intended objects in Column A within the permissible variation range of ±10% through Board approval in terms of BSE Notice No. 20221213-47 dated December 13, 2022 and NSE Circular No. NSE/CML/2022/56 dated December 13, 2022 and the approval of shareholders dated August 08, 2024. However, the total of Modified Allocation, if any, and Adjusted Revised Allocation remain the same. 2) Funds utilized in Column A and Column B represents the total amount utilized till June 30, 2026 including the amount utilized during the previous quarters. 3) Pursuant to preferential issue under Column A, during the quarter ended June 30, 2026 the Company received ₹ 447.60 crore upon conversion of Warrants and utilized ₹ 522.93 crore including ₹ 75.33 crore lying unutilized in Monitoring Account at the beginning of the quarter. During the quarter, the Company fully utilized the entire proceeds received from this issue. 4) Pursuant to preferential issues under Column B, during the quarter ended June 30, 2026 the Company has not received any funds. Also, no funds were utilized during the quarter. At the end of the quarter ₹ 0.01 crore remained unutilized in Monitoring Account. For PC Jeweller Limited (VISHAN DEO) Executive Director (Finance) & CFO DI [Showing first 8,000 characters — download PDF for full document]