Monitoring Agency Report

Date: 13th August, 2026 To, To, The Listing Department, The Listing Department, BSE Limited, National Stock Exchange of India Limited, Floor 25, P. J. Towers, Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Dalal Street, Mumbai 400 001 Complex, Bandra (East), Mumbai 400 051 BSE Scrip Code: 530355 Trading Symbol: ASIANENE Dear Sir / Madam, Sub: Monitoring Agency Report for the quarter ended 30th June, 2026 Ref.: Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time (“Listing Regulations”). Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”), please find enclosed herewith the Monitoring Agency Report for the quarter ended 30th June, 2026, in respect of the Preferential Issue of Convertible Warrants. The report has been issued by India Ratings & Research Private Limited, the Monitoring Agency appointed by the Company to monitor the utilization of the proceeds raised from the said issue. You are requested to take the same on record. Thanking you Yours faithfully, For Asian Energy Services Limited Shweta Jain Company Secretary and Compliance Officer Membership No. 23368 Encl. as above Asian Energy Services Limited CIN: L23200MH1992PLC318353 3B, 3rd Floor, Omkar Esquare, Chunabhatti Signal, Eastern Express Highway, Sion (East), Mumbai - 400022 Phone +91 (22) 42441100 E-mail: secretarial@asianenergy.com Web: https://www.asianenergy.com Source to Solutions Date: 13thAugust2026 Asian Energy Services Limited. 3b, 3rdFloor,Omkar Esquare, Chunabhatti Signal,Eastern Express Highway, Sion (East), Mumbai City, Mumbai 400022. Subject: Monitoring Agency Report for the quarter ended 30thJune2026in relation to preferential issue. Dear Sir, Pursuant to Regulation 162A (2) of SEBI (lssueof Capital and Disclosure Requirements) Regulations,2018 26thAugust2024,please find enclosed herewith the Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of preferential issue, for the quarter ended June30, 2026. Request you to kindly take the same on records. Thanking You, For and on behalf of India Ratings & Research Private Limited Name: Shrikant Dev Designation: Company Secretary IndiaRatings & Research Private Limited A Fitch Group Company Wockhardt Towers, Level 4, West Wing, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Tel: +91 22 4000 1700 Fax: +91 22 4000 1701 CIN/LLPIN: U67100MH1995FTC140049 www.indiaratings.co.in Report of the Monitoring Agency (MA) Name of the issuer: AsianEnergyServicesLimited For quarter ended: 30thJune2026 Name of the Monitoring Agency: India Ratings & Research Private Limited (a) Deviation from the objects: No deviation from the objects. Based on the Management undertaking and as per the Statutory Auditor Certificate dated 13th August 2026 issued by SGCO & Co. LLP, Chartered Accountants (FRN: 112081W/W100184) having UDIN 26044739KERWSM8979* and other documents provided to us, no deviation from the objects has been observed. *The reference to the Statutory Auditor Certificate anywhere in the MA report refers to the said Certificate. (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 intendedto 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 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 reviewedby the MA, and the MA takes no respons Signature: Name and designation of the Authorized Signatory: Shrikant Dev (Company Secretary) Date: 13thAugust 2026. Page 1of 8 1) Issuer Details: Name of the issuer: AsianEnergyServicesLimited Names of the promoters: Ritu Garg OilmaxEnergy Private Limited Industry/sector to which it belongs: Services provider in energy and minerals sector. 2) Issue Details: Issue/offer Period: 23rdOctober2024 to 04thNovember 2024. Type of issue (public/rights): Preferential allotmenton private placement basis. Type of specified securities: 48,00,000Shareswarrants@ Rs.335perwarrant, each convertible into one equity shareoffacevalueofRe. 10 each. IPO Grading, if any: Not Applicable Issue size: INR 160.80Crores* *It is the total issue size. However, 1,00,000 convertible warrants were not subscribed. The actual subscription of Convertible warrants and the amount received by the company as on 30thJune2026is as below: Issue subscribed Issue proceeds received as on 30thJun 6 Value Value (INR Security No. Rate (INR No. Rate Crores) Crores) Convertible 47,00,000 83.75 39.36 47,00,000 335 157.45 Warrants 36,62,702 251.25 92.03 Total 157.45 131.39^ ^The company has received INR 39.36 Crores, represent 25% of the value of the convertible warrants (i.e. INR 83.75/warrant), as upfront consideration/subscription amount. During the quarter ended 30thJune 2026, the Company received a further INR 92.03 Crores, being INR 251.25 per warrant (representing the remaining 75% of the issue price) upon conversion of 36,62,702 warrants into equity shares. Further please note that the balance 10,37,298 equity warrants, in respect of which the call money of INR 251.25 per warrant (being the balance 75% payable upon conversion) was outstanding,were forfeiteddueto non-receiptof75% of warrants issue price within the warrants exercise period i.e. within 18 months from date of allotment,i.e. 05thNovember 2024. Accordingly, the total issue proceeds received amount to INR 131.39Crore. Page 2of 8 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments of certifications considered Comments of the Particulars Reply the Board of by Monitoring Agency for Monitoring Agency Directors preparation of report Management undertaking, Statutory Auditor Whether all utilization is as per Certificate, Notice to the disclosures in the Offer Yes No Comments No Comments Shareholders for EGM along Document? with corrigendum, Relevant Bank Statements. Whether shareholder approval Management undertaking, has been obtained in case of Statutory Auditor material deviations from NA NA No Comments Certificate expenditures disclosed in the Offer Document? Whether the means of finance Management undertaking, for the disclosed objects of the No Statutor [Showing first 8,000 characters — download PDF for full document]