Monitoring Agency Reports for the quarter ended June 30, 2026

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.: Monitoring Agency Reports for the quarter ended June 30, 2026 Dear Sir / Ma’am, Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith two Monitoring Agency Reports for the quarter ended June 30, 2026 issued by CARE Ratings Limited, in relation to the following preferential issues of: i) Fully Convertible Warrants approved by shareholders in the Extra-Ordinary General Meeting of the Company held on August 08, 2024; and ii) Fully Convertible Warrants and Equity Shares approved by shareholders vide Postal Ballot on August 10, 2025. Kindly take the same on record. Yours sincerely, 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 No. CARE/NRO/GEN/2026-27/1073 The Audit Committee/Board of Directors PC Jeweller Limited 2713, 3rd Floor, Bank Street, Karol Bagh New Delhi-110005 August 05, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Preferential issue of Fully convertible warrants of PC Jeweller Limited (“the Company”) We write in our capacity of Monitoring Agency for the Preferential Issue for the amount aggregating to Rs. 2702.11 crore of the Company and refer to our duties cast under 162A 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 ended June 30, 2026 as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated August 22, 2024. Request you to kindly take the same on records. Thanking you, Yours faithfully, Rajan Sukhija Associate Director Rajan.Sukhija@careedge.in CARE Ratings Limited Plot no. C-001 A/2 Sector 16B, Berger Tower, Noida, Gautam 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Budh Nagar (UP) - 201301 Phone: +91-120-4452 000 Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 Report of the Monitoring Agency Name of the issuer: PC Jeweller 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: Rajan Sukhija Designation of Authorized person/Signing Authority: Associate Director CARE Ratings Limited Plot no. C-001 A/2 Sector 16B, Berger Tower, Noida, Gautam 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Budh Nagar (UP) - 201301 Phone: +91-120-4452 000 Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 1) Issuer Details: Name of the issuer : PC Jeweller Limited Name of the promoter : Mr. Balram Garg Industry/sector to which it belongs : Consumer durables- Gems, Jewellery and Watches 2) Issue Details Issue Period : 18 months from the date of allotment of preferential warrants Type of issue (public/rights) : Preferential Share Warrant Issue Type of specified securities : Equity Warrants IPO Grading, if any : Not Applicable Issue size (in crore) : Rs.2702.11 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 Monitoring Agency Board of Directors preparation of report Chartered Accountant certificate*, Proceeds from the preferential issue have been - Whether all utilization is as per the disclosures Yes Bank statement, Management utilized as per the objectives mentioned in the in the Offer Document? certificate offer document. Whether shareholder approval has been Chartered Accountant certificate*, - obtained in case of material deviations# from Bank statement, Management Not Applicable deviation expenditures disclosed in the Offer Document? certificate CARE Ratings Limited Plot no. C-001 A/2 Sector 16B, Berger Tower, Noida, Gautam 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Budh Nagar (UP) - 201301 Phone: +91-120-4452 000 Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Monitoring Agency Board of Directors preparation of report Due to undersubscription of warrants by 0.11%, The shortfall in receipt of final issue size declined. funds will not affect the pending objects of the issue The non-exercise of the warrant conversion as the same will be achieved option by the holders within the 18-month through internal accruals/ Chartered Accountant certificate*, conversion period i.e. April 10, 2026, has resulted other modes. Whether the means of finance for the disclosed No Bank statement, Management in a ~7% shortfall in fundraising. The company objects of the issue have changed? certificate has not revised the costs of its objects due to shortfall in fundraising, therefore, the means of finance for the objects are expected to change. Further, all the funds raised have been completely utilized during Q1FY27, and hence this would be the last Monitoring report. Chartered Accountant certificate*, - Is there any major d [Showing first 8,000 characters — download PDF for full document]