Statement of deviation or variation in the use of proceeds of Initial Public Offering under Regulation 32 of SEBI (LODR) Regulations, 2015 read with Regulation 262 of SEBI (ICDR) Regulations, 2018.

fl;u HORIZON RECLAIM (INDIA) LIMITED MFRS. OF RECLAIM/CRUMB RUBBER, PYROLYSIS OIL & RECOVERED CARBON BLACK CIN : U22199UP2006PLC032294 (Formerly known as Horizon Reclaim (India) Private Limited) August 13,2026 The Manager - Listing Department, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai — 400001 Scrip Code: 544794; ISIN: INE1SE001013; SYMBOL: HORIZON Subject: Statement of deviation or variation in the use of proceeds of Initial Public Offering under Regulation 32 of SEBI (LODR) Regulations, 2015 read with Regulation 262 of SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018. Dear Sir/Madam Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015read with Regulation 262 of SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018, we hereby submit the Statement of Deviation or Variation in utilization of the proceeds of the Initial Public Offering (“[PO”) for the quarter ended June 30, 2026 issued by Monitoring Agency, CRISIL Ratings Limited. A Statement of Deviation or Variation for the quarter ended June 30, 2026, duly reviewed by the Audit Committee and the Board of Directors at their meeting held on August 13, 2026, is enclosed herewith as Annexure-A. The above information is also being uploaded on the website of the Company. Regd. Office : Khasra No. 9, Dehradun Road, Near Nirankari Bhawan, Vill Kumarhera, Saharanpur-247001 (U.P) INDIA | Call: +91 81710 00900 | e-mail : office@horizonworld.in Works (Rubber Reclaim Facility) : Ground Floor, Plot No. 59 - 62, Shiv Ganga Lakeshri, Roorkee, Haridwar, Uttarakhand- 247667 INDIA | Call -+ 91 81710 00900, 93594 70416, 73029 00003 Works (Waste to Energy Facility) : Plot no B 10, 1281, 11,23 OL (B) OL(C) / 1-6, C-2, 3, 4 RK. International Park, Hirasar Airport, Kuvacdva Road, Rajkot- 360023 (Gujarat) INDIA | Call : +91 81710 00900, 92196 00197 Toll Free : 1800-270-7006 | e-mail : support@horizonworld.in, info@horizonwold.in | Visit us : www.horizonreclaim.com n:u' HORIZON RECLAIM (INDIA) LIMITED MFRS. OF RECLAIM/CRUMB RUBBER, PYROLYSIS OIL & RECOVERED CARBON BLACK CIN : U22199UP2006PLC032294 Kindly take the above information on your records. Thanking you. Yours faithfully For HORIZON RECLAIM (INDIA) LIMITED (Formerly known! as Horizon Reclaim (India) Private Limited) o(Lut ?/ HIT B. J HIEF FINANCIAL OFFICER PAN: AFVPB6914L Regd. Office : Khasra No. 9, Dehradun Road, Near Nirankari Bhawan, Vill. Kumarhera, Saharanpur-247001 (U.P) INDIA | Call: +81 8171000900 | e-mail : office@horizonworld.in Works (Rubber Reclaim Facility) : Ground Floor, Plot No. 59 - 62, Shiv Ganga Lakeshri, Roorkee, Haridwar, Uttarakhand- 247667 INDIA | Call:+ 9181710 00900, 93534 70416, 73029 00003 Works (Waste to Energy Facility) : Plot no B 10,1281, 11,23 OL (B) OL(C)/ 1-6.C-2, 3, 4 RK, International Park, Hirasar Airport, Kuvadva Road, Rajkot - 360023 (Gujarat) INDIA | Call: +9181710 00900, 92196 00197 Toll Free: 1800-270-7006 | e-mail : support@horizonworld.in, info@horizonwold.in | Visit us : www.horizonreclaim.com HORIZON RECLAIM (INDIA) LIMITED MFRS. OF RECLAIM/CRUMB RUBBER, PYROLYSIS OIL & RECOVERED CARBON BLACK CIN : U22199UP2006PLC032294 Annexur— eA Statement of Deviation / Variation in utilisation of funds raised: Name of listed entity Horizon Reclaim India Limited Mode of Fund Raising Initial Public Offer (IPO) — Fresh Issue of Equity Shares Date of Raising Funds 19 June 2026 Amount Raised %5,427.28 lakh Report filed for Quarter/ Half Year Quarter ended June 30, 2026 Ended Monitoring Agency Yes Monitoring Agency Name, if applicable Crisil Ratings Limited Is there a Deviation / Variation in use of Yes — Variation in the allocation/utilisation funds raised towards Issue Expenses. There was no deviation in the objects of the Issue. The Issue Expenses increased from T434.44 lakh to ¥450.33 lakh, resulting in a corresponding reduction in GCP from X779.84 lakh to %763.95 lakh. If yes, whether the same is pursuant to No. The variation was not pursuant to any change in terms of a contract or objects, change in the objects of the Issue or a which was approved by the shareholders shareholder-approved change. If Yes, Date of shareholder Approval Not Applicable (N.A.) Explanation for the Deviation / Variation The variation arose due to increase in Issue Expenses by T15.89 lakh, from ¥434.44 lakh as stipulated in the Offer Document to 245033 lakh actually incurred. The | document states that the increase arose solely on account of issue expenses incurred, with the actual expense of ¥450.33 lakh including GST exceeding the amount stipulated in the Offer Document of ¥434.44 lakh excluding GST. Consequently, the GCP allocation reduced from ¥779.84 lakh to ¥763.95 lakh. Refyd. Office : 5ra No. 9, Dehradun Road, Near Nirankari Bhawan, Vill. Kumarhera, Saharanpur-247001 (U.P) INDIA | Call: +91 8171000900 | e-mail : office@horizonworld.in Works (Rubber Reclaim Facility) : Ground Floor, Plot No. 59 - 62, Shiv Ganga Lakeshri, Roorkee, Haridwar, Utlarakhand- 247667 INDIA | Call:+ 91 81710 00900, 93594 70416, 73029 00003 Works (Waste to Energy Facility) : Plot no B 10, 1281, 11,23 0L (B) OL(C) / 1-6, C-2, 3, 4 RK. International Park, Hirasar Airport, Kuvadva Road. Rajkot- 360023 (Gujarat) INDIA | Call : +91 81710 00900, 82196 00197 Toll Free : 1800-270-7006 | e-mail : support@nhorizonworld.in, info@horizonwold.in | Visit us : www.horizonreclaim.com fl:u' HORIZON RECLAIM (INDIA) LIMITED MFRS. OF RECLAIM/CRUMB RUBBER, PYROLYSIS OIL & RECOVERED CARBON BLACK CIN : U22199UP2006PLC032294 Comments of the Audit Committee after | The Audit Committee, upon review of the review utilisation of the Issue Proceeds and the Monitoring Agency Report, noted that there has been no deviation from the objects of the Issue as disclosed in the Offer Document. The Audit Committee further noted that the Issue Expenses incurred during the quarter amounted to ¥450.33 lakh as against 343444 lakh estimated in the Offer Document, resulting in a variation of ¥15.89 lakh. The said increase is attributable to the actual Issue Expenses incurred, including GST, and has correspondingly reduced the amount allocated towards General Corporate Purposes from ¥779.84 lakh to 3763.95 lakh. The Audit Committee noted that the variation does not involve any change in the objects of the Issue and the unutilised Issue Proceeds continue to be utilised in accordance with the objects disclosed in the Offer Document. Comments of the auditors, if any Based on the records and documentation reviewed, the auditors observed no deviation in the utilization of IPO proceeds and confirmed that the funds were used in accordance with the objects stated in the offer document. Regd. Off:i Khcasera No. 9, Dehradun Road, Near Nirankari Bhawan, Vill. Kumarhera, Saharanpur-247001 (U.P) INDIA | Call: +9181710 00900 | e-mail : office@horizonworld.in Works (Rubber Reclaim Facility) : Ground Floor, Plot No. 59 - 62, Shiv Ganga Lakeshri, Roorkee, Haridwar, Uttarakhand- 247667 INDIA | Call:+ 91 81710 00900 93594 70416, 73029 00003 Works (Waste to Energy Facility) : Plot no B 10,12 B1, 11,23 OL (B) OL(C) / 1-6, C-2, 3. 4 RK. International Park Hirasar Airport, Kuvadva Road, Rajkot - 360023 (Gujarat) INDIA | Call: +91 81710 00800, 92196 00197 Toll Free : 1800-270-7006 | e-mail : support@norizonworld.in, info@norizonwold.in | Visit us : www.horizonreclaim.com Y .- A s S s fl:u' HORIZON RECLAIM (INDIA) LIMITED MFRS. OF RECLAIM/CRUMB RUBBER, PYROLYSIS OIL & RECOVERED CARBON BLACK CIN : U22199UP2006PLC032294 Objects for which funds have been raised and where there has been a deviation, in the following table: Original Comments of Board of Directors cost (as s Commen S. per the R"’C"s:d tof the Particulars No | Item Head Offer (Rso f i n Monitori R ofe a Cs oo sn t | fP ir no ap n0 c§ ie nd g of firm . Document lakhs) ng Revision tion | Arrangemen ) (Rs in Agency St op ts made lakhs) Funding the working 1| capital 60000 | 600 [Showing first 8,000 characters — download PDF for full document]