Monitoring Agency Report

August 11, 2026 To, To, BSE Limited National Stock Exchange of India Limited P. J. Towers, Dalal Street, Exchange Plaza, Bandra - Kurla Complex, Fort, Mumbai – 400 001 Bandra (East), Mumbai - 400 051 Ref: BSE Scrip Code 542774 Ref: MUFIN Sub: Monitoring Agency Report for the quarter ended June 30, 2026 Dear Sir/ Ma’am, With reference to the above subject, pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with Regulation 162A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”), we are enclosing the Monitoring Agency Report of the Company for the quarter ended June 30, 2026, issued by Acuite Ratings & Research Limited, the Monitoring Agency, appointed by the Company to monitor the utilisation of proceeds raised through the issuance and allotment of 2,49,30,765 (Two Crore Forty-Nine Lakh Thirty Thousand Seven Hundred Sixty Five) fully paid-up equity shares of face value Rs. 1/- each at an issue price of Rs. 98/- (including a premium of Rs. 97/-) per equity share, and 76,53,061 (Seventy-Six Lakh Fifty-Three Thousand Sixty-One) warrants at an issue price of Rs. 98/- per warrant, by way of preferential Issue under Chapter V of SEBI ICDR Regulations. Thanking You, Yours Faithfully For Mufin Green Finance Limited Mayank Pratap Singh Company Secretary & Compliance Officer Encl: as above Report of the Monitoring Agency (MA) Name of the issuer : Mufin Green Finance Limited (Erstwhile APM Finvest Limited) For quarter ended : Q1 FY2026-27 Name of the Monitoring Agency : Acuité Ratings and Research Limited (a) Deviation from the objects : No Deviation is observed. (b) Range of Deviation : Not Applicable (C) Any other material fact to be highlighted : None 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: Vikas Mishra Deputy Vice President - Process Excellence Report Date: August 11, 2026 1. Issuer Details: Name of the issuer : Mufin Green Finance Limited (Erstwhile APM Finvest Limited) Names of the promoter: Promoters/Promoter Group Hindon Mercantile Limited Mr. Kapil Garg Industry/sector to which it belongs : Non-Banking Financial Company/ Financial Services 2. Issue Details: Issue Period : From February 18, 2026 to March 04, 2026 Type of issue : Private Placement Type of specified securities : Equity Shares and Warrants IPO Grading, if any : Not Applicable Issue size : 319.32 Units Issued Offer Price Issue Size Amount Raised % Issue Size Particular (INR) [INR Cr.] [INR Cr.] Raised Equity 2,49,30,765 98.00 244.32 244.32 100.00 Warrants 76,53,061 98.00 75.00 18.75 25.00 Total - - 319.32 263.07 - Report Date: August 11, 2026 3. D etails of the arrangement made to ensure the monitoring of issue proceeds Source of information/ certifications Sr. Comments of the Monitoring Comments of the Audit Particulars Reply from the issuer considered by Monitoring No. Agency Committee Agency for preparation of report Utilisations in the respective Whether all utilization is as per the disclosures in 1 Yes objects are as per disclosures None the Offer Document? by the company. Whether shareholder approval has been No material deviation is 2 obtained in case of material deviations from Not Applicable None observed. expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed 3 No No change is observed. None objects of the issue has changed? The issuer has not appointed Is there any major deviation observed over the 4 No any other Monitoring Agency None earlier monitoring agency reports? earlier. Documents provided by No Government / Statutory Whether all Government/statutory approvals 5 Yes the issuer, Bank Statement approval is required for None related to the object(s) have been obtained? and Independent Auditors objects. Certificate issued by Parv No arrangement pertaining Whether all arrangements pertaining to & Co. to technical assistance / 6 technical assistance/collaboration are in Yes None collaboration is required with operation? reference to the object. No favorable event is Are there any favorable events improving the 7 Yes observed that may improve None viability of these object(s)? the viability of these objects. No unfavorable event is Are there any unfavorable events affecting the 8 No observed affecting the None viability of the object(s)? viability of these objects. No relevant information is Is there any other relevant information that evident that may materially 9 may materially affect the decision making of No None affect the decision making of the investors? the investors. Report Date: August 11, 2026 4. Details of object(s) to be monitored: i. Cost of object(s) Source of information / Original cost (as Comments of the Audit Committee Comments of the Sr. Item certifications considered by per the Offer Revised Monitoring No. Head Monitoring Agency for Document) Cost Reason of Proposed preparation of report (INR Cr.) Agency Cost financing Particulars of firm arrangement revision option Documents provided by the issuer, Bank Statement and No change is 1 For Lending Purpose 319.32 - NA NA NA Independent Auditors observed. Certificate issued by Parv & Co. Total 319.32 - Report Date: August 11, 2026 ii. Progress in the object(s) – Source of Amount utilized Comments of the Audit information Amount as (INR Cr.) Committee / certifications Total proposed in Amount NS or. . Item Heads Ac t pho g re en e pMs ni acd o rye an r ti fe t io ood r nr i tn b h ogy e Dt (oh INe c R uO m Cff e re .n )r t (Ir Na Ris e Cd r. ) be qoA g ufi as n t h ra n te et in g Du qr uin ag rt eth r e qeA un tt ah dt e rh to ee f u (an INmu Rt oi l Ci uz ne r.td ) MC oo nm itom rie nn gt s A o gf e t nh ce y R fe o fua r nis d do l sn e s P cr o ao u cp r to s ioes ne o d f report Documents provided by the issuer, Bank Statement For Lending 1 and 319.32 263.07 154.00 109.07 263.07 - No Com [Showing first 8,000 characters — download PDF for full document]