Monitoring Agency Report

SPML 13th August, 2026 To, To National Stock Exchange BSE Ltd Exchange Plaza, Phiroze Jeejeebhoy Tower Plot No. C/1, G Block, Dalal Street, Bandra (E), Mumbai-400051 Mumbai - 400001 (NSE Scrip Code: SPMLINFRA) (BSE Scrip Code: 500402) Sub: Monitoring Agency Report by ICRA Ltd; for the utilization of funds raised through preferential allotment for the Quarter ended 30th June, 2026 Dear Sirs, Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 162A of the SEBI (Issue of Capital Disclosure Requirements) Regulations, 2018, please find attached herewith the Monitoring Agency Report issued by ICRA Limited, Monitoring Agency appointed by Company for monitoring the utillisation of funds raised through preferential allotment for the quarter ended 30th June, 2026. Kindly take the above on record. Thanking You, Yours faithfully For SPML Infra Limited Swati D igitally signed b y Swati Agarwal AgarwalD ate: 2026.08.13 13:04:35 +05'30' Swati Agarwal Company Secretary SPML INFRA LIMITED CIN: L40106\\8198lPLC276372 Regd.Offnoe:22,CamacStreet.Block~A,3rdFloor.Kolkata700016 Ph:+91 334009120011247 E-mail:info@spml.oo.inIWebsite:www.spml.co.ln ICRA m ICRA Limited Insightsthatempower Date: August 12, 2026 Mr. Manoj Digga Executive Director Commercial & CFO SPML Infra Limited 22, Camac Street, Block-A,3rd Floor Kolkata- 700016 Contact: +91 33 4009 1200 Dear Sir, Re: Final Monitoring Agency report of SPML Infra Limited for Q1 FY2027 Please refer to agreement dated January 10, 2025, appointing ICRA Limited as the Monitoring Agency (MA) for SPML Infra Limited’s Preferential 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 SPML Infra 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 P arul Digitally signed by Parul Goyal G oyal Narang Date: Narang 2026.08.12 12:04:51 +05'30' Parul Goyal Narang Vice President & Head- Process Excellence parul.goyal@icraindia.com Building No. 8, 2nd Floor, Tower A Tel.: +91.124 .4545300 Website: www.icra.in DLF Cyber City, Phase II CIN : L749999DL1991PLC042749 Email: info@icraindia.com Gurugram – 122002, Haryana Helpdesk: +91 9354738909 Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel. :+91.11.23357940-41 RATING ● RESEARCH ● INFORMATION Sensitivity Label : Confidential ICRA June 2026 Insightsthatempower MONITORING AGENCY REPORT Report of the Monitoring Agency Name of the Issuer: SPML Infra Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: ICRA Limited (a) Deviation from the objects of the issue: No 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 creditrelated 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 Digitally signed by Parul Goyal Goyal Narang Date: Narang 2026.08.12 12:06:10 +05'30' Parul Goyal Narang Vice President & Head-Process Excellence Analyst: Sumana Guha Quality Analyst: Dhwani Vinchhi Sensitivity Label : Public ICRA June 2026 Insightsthatempower 1. Issuer Details Name of the Issuer: SPML Infra Limited Name(s) of the promoter: Promoters Subhash Chand Sethi Sushil Kumar Sethi Source: Bse.com Industry/ sector to which it belongs: - Construction 2. Issue Details Issue Period: Opening date- Not Applicable Closing date- Not Applicable Type of Issue: Preferential Issue Type of specified securities: Equity Share and Warrants. IPO Grading, if any: Not Applicable Issue Size (Rs. Crore): 300.00 Crore* For Equity Share – 6,293,528 Equity shares at an issue price of Rs. 215 per Equity Share of Face Value of Re. 2 each, aggregating to Rs. 135.311 crore. For Warrants – 7,314,844 warrants at an issue price of Rs. 215 per Warrant of Face Value of Re 2 each, aggregating to Rs. 157.269 crore. *Gross proceeds stands revised to INR 292.580 crore (6,293,528 shares @ INR 215 each and 7,314,844 warrants @ INR 215 each) on account of under subscription of Equity Shares. With OFS portion: Not Applicable Excluding OFS portion: Not Applicable Net Proceed: 292.58 Crore** **Note: The proceeds credited to the Preferential Issue Account aggregated to INR 210.43 crore as on March 31, 2026. Of the total consideration towards warrants, 25% of the issue proceeds had been received up to Q3 FY2026, with an additional INR 35.79 crore received during Q4 FY2026. Subsequently, the Company received a further INR 82.15 crore in Q1 FY2027 upon conversion/exercise of warrants. Accordingly, the aggregate proceeds received against the warrants increased to INR 292.58 crore as of Q1 FY2027. ICRA has monitored INR 292.58 Crore for Q1 FY2027. Sensitivity Label : Public ICRA June 2026 Insightsthatempower 3. Details of the arrangement made to ensure the monitoring of issue proceeds Source of information, Comments of certifications considered Comments of the Monitoring the Issuer’s Particulars Reply by the Monitoring Agency Board of Agency for the Directors preparation of report The issuer has revised the - Peer Reviewed CA- proposed spending by INR Whether all utilization is as per Certificate 292.580 crore against the the disclosures in the Offer Yes -Bank statement of the No Comments objects on a pro rata basis, on Document? proceeds account account of undersubscription of Equity Shares. Whether shareholder approval has been obtained in case of Not As confirmed by the material deviations# from No comments No Comments Applicable [Showing first 8,000 characters — download PDF for full document]