Final Monitoring Agency report for the quarter ended June 30, 2026

Monitoring Agency Report for Tolins Tyres Limited for the quarter ended June 30, 2026 No. BWR/2026-27/IPM/TTL/04 August 06,2026. Mr. Sojan C S Chief Financial O(cid:431)icer Tolins Tyres Limited No. 1/47, MC Road, Kalady Ernakulam, Aluva– 683574 Kerala, India Dear Sir, Fourth and Final Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Fresh Issue and O(cid:431)er for Sale of Equity Shares Issue of Tolins Tyres Limited (“the Company”) Pursuant to Regulation 41 of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Engagement Letter dated August 27, 2025, Brickwork Ratings (BWR) has prepared the Fourth and Final Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards utilisation of proceeds of funds raised, for the quarter ended June 30, 2026. The funds raised by the Company were through Fresh Issue and O(cid:431)er for Sale of Equity Shares aggregating to Rs.230.00 Crore of the Company. 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 September 09, 2025. Request you to kindly take the same on records. Thanking you, Yours Faithfully, Mr Niraj Kumar Rathi Senior Director, Ratings - Brickwork Ratings Report of the Monitoring Agency (MA) Name of the issuer: Tolins Tyres Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Brickworks Ratings India Private Limited (a) Deviation from the objects: No (b) Range of Deviation: Not Applicable Declaration: We declare that this report is based on the format prescribed by the SEBI (ICDR) Regulations, 2018, we further declare that this report provides a true and fair 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. We declare that we do not have any direct/indirect interest in or relationship with the issuer/promoters/directors/management and also 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. 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 a(cid:431)iliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its a(cid:431)iliates may have a 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 of the Authorized Signatory: Mr Niraj Kumar Rathi Designation of Authorized Person/Signing Authority: Senior Director, Ratings, Brickwork Ratings 1) Issuer Details: Name of the issuer: Tolins Tyres Limited Names of the promoter: Dr. Kalamparambil Varkey Tolin, Jerin Tolin Industry / sector to which it belongs: Tyre Industry 2) Issue Details: Issue period: For anchor investor- 06 September 2024 to 11 September 2024. For others – 09 September 2024 to 11 September 2024. Type of issue (public/ rights): Fresh Issue and O(cid:431)er for Sale of Equity shares Type of specified securities: Equity Shares IPO Grading, if any: Not Applicable Issue size (in ₹ Crore): 230 Total Amount Value as per Offer Document Particulars Number of Price (₹) Received (₹ Crore) Securities (₹ Crore) Equity Shares-Fresh Issue 8849557 226 200.00 200.00 Equity Shares-Offer for sale 1327432 226 30.00 30.00 Total 1,01,76,989 230.00 230.00 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments Comments certifications of of Particulars Reply considered by Monitoring Board of Monitoring Agency Agency Directors for preparation of report Whether all utilization is as per Bank Statements, the disclosures in the O(cid:431)er Yes Company’s Letter, CA Nil Nil Document? Certificate, Invoices. Whether shareholder approval has been obtained in case of material deviations# from Nil Nil Nil Applicable expenditures disclosed in the O(cid:431)er Document? Whether the means of finance for the disclosed objects of the issue No Nil Nil Nil has changed? Is there any major deviation observed over the earlier No Nil Nil Nil monitoring agency reports? Whether all Government/statutory approvals Yes Company’s Letter Nil Nil related to the object(s) have been obtained? Whether all arrangements pertaining to technical Not Nil Nil Nil assistance/collaboration are in Applicable operation? Are there any favorable events improving the viability of these No Company’s letter Nil Nil object(s)? Are there any unfavorable events a(cid:431)ecting the viability of the No Company’s letter Nil Nil object(s)? Is there any other relevant information that may materially No Not Applicable Nil Nil a(cid:431)ect the decision making of the investors? Notes: CA Certificate from P. T. Joseph & Co Chartered Accountants #Where material deviation may be defined to mean: (a) Deviation in the objects or purposes for which the funds have been raised (b) Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the o(cid:431)er documents. 4) Details of object(s) to be monitored: i. Cost of object(s): Source of Comments of the Board of information / Directors Original certifications Cost (as Revised Comments considered Sr. per the Cost of the Particulars Item Head by Reason Proposed No. O(cid:431)er (₹ Monitoring of firm Monitoring of cost financing Document) Crore) Agency arrangeme Agency for revision option (₹ Crore) nts made preparation of report Repayment and / or prepayment, in Bank full of certain Statements, 1. outstanding loans Company 69.97 No Nil Nil Nil Nil (including Letter, CA foreclosure Certificate charges, if any) Bank Augmentation of Statements, long-term working 2. Company 75.00 No Nil Nil Nil Nil capital Letter, CA requirements Certificate Repayment and / or prepayment, in Bank full, of certain Statements, outstanding loans 3. Company 15.15 No Nil Nil Nil Nil of our wholly Letter, CA owned subsidiary, Certificate Tolin Rubbers Private Limited Augmentation of Bank long-term working Statements, capital Company requirements of Letter, CA 4. 8.00 No Nil Nil Nil Nil our wholly owned Certificate subsidiary, Tolin Rubbers Private Limited Bank Statements, General corporate 5. Company 15.68 No Nil Nil Nil Nil purpose Letter, CA Certificate Bank Statements, 6. Issue [Showing first 8,000 characters — download PDF for full document]