Monitoring Agency Report for the Quarter ended on June30,2026.

Wednesday, August 12, 2026 Ref: PRL/BSE&NSE/2026-2027/30 To, To, Department of Corporate Services The Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Bandra Dalal Street, Fort, Kurla Complex, Bandra (East), Mumbai 400 001. Mumbai - 400 051. Scrip Code: 544487 Symbol: PATELRMART Subject: Monitoring Agency Report for the Quarter ended on June30, 2026. Respected Sir/Madam, Pursuant to Regulation 32(6) of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulation”) read with Regulations 41(4) of the Securities Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”), please find enclosed the Monitoring Agency Report issued by ICRA Limited (“Monitoring Agency”), in respect to utilization of the proceeds of the Pre and Post Initial Public offer (“IPO”) issue of the Company for the Quarter ended on June30, 2026. This submission also will also be disseminated on the company website https://patelrpl.in/investor-relations/ This for information, dissemination and record purpose. Yours Sincerely, For Patel Retail Limited Prasad Ramesh Khopkar (Company Secretary) Enclosure: Monitoring Agency Report issued by ICRA Limited dated Wednesday, August 12, 2026 for the Quarter ended on June30, 2026. Page 1 of 1 Date: August 12, 2026 Mr. Dhanji Patel Chairman and Managing Director Patel Retail Limited Plot No M-2, Udyog Bhavan No 5 Anand Nagar, Additional M.I.D.C Ambernath (E) Mumbai- 421506 Dear Sir, Re: Final Monitoring Agency report of Patel Retail Limited for Q1 FY2027 Please refer to agreement dated November 29, 2024, appointing ICRA Limited as the Monitoring Agency (MA) for Patel Retail Limited’s IPO Issue. After due consideration, ICRA has prepared the attached final Monitoring Agency report as per SEBI (Issue of Capital and Disclosure Requirements) Regulations for Q1 FY2027. Please note that the Monitoring Agency report does not constitute a commentary on the quality of the objects of the issue, appropriateness or reasonableness of costs or spending by Patel Retail Limited against any objects / heads or assurance on outcome of such spending. We thank you for your kind cooperation extended during the course of Q1 FY2027.Should you require any clarification, please do not hesitate to get in touch with us. We look forward to your communication and assure you of our best services. With kind regards For ICRA Limited Parul Goyal Narang Vice President & Head Process-Excellence parul.goyal@icraindia.com ICRA Limited Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel. +91-11-23357940-41 Building No. 8, 2nd floor, Tower A, DLF Cyber City, Phase II, Gurugram-122002 www.icra.in info@icraindia.com +91-93547-38909 +0124-4545300 CIN: L74999DL1991PLC042749 June 2026 MONITORING AGENCY REPORT Name of the Issuer: Patel Retail Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency (MA): ICRA Limited (a) Deviation from the objects of the issue: No material deviation - the utilization of the issuance proceeds is in line with the objects of the issue. (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 we do not perceive any conflict of interest in such relationship/ interest while monitoring and reporting the utilization of the issue proceeds by the issuer. 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: Parul Goyal Narang Vice President & Head- Process Excellence Analyst: Dhwani Vinchhi Quality Analyst: Parul Narang Sensitivity Label : Public June 2026 1. Issuer Details Name of the Issuer: Patel Retail Limited Name(s) of the promoters: Promoters Dhanji Raghavji Patel Bechar Raghavji Patel Hiren Bechar Patel Rahul Dhanji Patel Source: BSE Industry/ sector to which it belongs: Retail Industry Sector 2. Issue Details Issue Period: Opening date- August 19, 2025 Closing date- August 21, 2025 Type of Issue: Initial Public Offer Type of specified securities: Equity shares IPO Grading, if any: No credit rating agency registered with SEBI has been appointed in respect of obtaining grading for the offer. Issue Size (Rs. Crore): INR 242.6580 Crore With OFS portion: INR 242.658 Excluding OFS portion: INR 217.107 Net proceeds as per Prospectus: INR 190.4787 (Excluding Issue Related Expenses)* *Net proceeds Stood at INR 189.2101 Crore as issue related expenses incurred were higher than the estimated by INR 1.2686 Crore. Type of Issue: Pre-Initial Public Offer Type of specified securities: Equity shares IPO Grading, if any: No credit rating agency registered with SEBI has been appointed in respect of obtaining grading for the offer. Issue Size (Rs. Crore): INR 15.00 Crore With OFS portion: NA Excluding OFS portion: NA Net Proceeds from Pre-IPO Placement: INR 15.000Crore Note: ICRA has monitored Proceeds amount of INR 232.107 crore (Pre-IPO proceeds – INR 15.00 crore & Gross IPO proceeds – INR 217.107 crore) in Q1 FY2027 Sensitivity Label : Public June 2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds. Source of information, Comments of the certifications considered by Comments of the Particulars Reply Issuer’s Board of the Monitoring Agency for Monitoring Agency Directors the preparation of report The offer related expenditure has -Peer reviewed CA Certificate increased from INR -Confirmation from 26.6283 Crore to INR Whether all utilization is as per the 27.8969 Crore due to management disclosures in the Offer Yes which the General - Bank statement of the Document? Corporate Purpose proceeds account/ amount has been corresponding accounts revised by the issuer to INR 21.2099 Crore from INR 22.4785 Crore Whether shareholder approval has been obtained in case of material Not As confirmed by the Issuer’s No comments deviations# from expenditures Applicable management disclosed in the Offer Document? Whether the means of finance for As confirmed by the Issuer’s the disclosed objects of the issue No No comments management has changed? The issue expenditure incurred of INR 0.8788 Crore in Q3 FY 2026, was considered as a part of General Is there any m [Showing first 8,000 characters — download PDF for full document]