Please find attached herewith report of Monitoring Agency for the quarter ended June 30, 2026.

August 13, 2026 National Stock Exchange of India Limited BSE Limited "Exchange Plaza" Phiroze Jeejeebhoy Towers Bandra-Kurla Complex, Bandra (East) Dalal Street Mumbai - 400051 Mumbai - 400001 Scrip Symbol: IRMENERGY Scrip Code: 544004 Sub: Monitoring Agency Report for the quarter ended June 30, 2026 as per Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41 (4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we hereby enclose the Monitoring Agency Report dated August 13, 2026, issued by CRISIL Ratings Limited, Monitoring Agency, for the quarter ended June 30, 2026, in respect of utilization of proceeds of the Initial Public Offer (IPO) of equity shares of the Company. You are requested to take the aforesaid information on your record. Thanking you, Yours sincerely, For, IRM Energy Limited Akshit Soni Company Secretary & Compliance Office Monitoring Agency Report IRM Energy Limited for the quarter ended June 30, 2026 CRL/MAR/IRENPL/2026-27/1938 August 13, 2026 IRM Energy Limited 4th Floor, Block 8, Magnet Corporate Park, Near Sola Bridge, S.G. Highway, Ahmedabad – 380 054, Gujarat Dear Sir/Madam, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Initial Public Offer (“IPO”) of IRM Energy Limited (“the Company”) Pursuant to Regulation 41(2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated October 09, 2023, enclosed herewith the Monitoring Agency Report, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of IPO for the quarter ended June 30, 2026. Request you to kindly take the same on record. Thanking you, For and on behalf of Crisil Ratings Limited Shounak Chakravarty Director, Ratings (LCG) Report of the Monitoring Agency (MA) Name of the issuer: IRM Energy Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: Not applicable (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: Name and designation of the Authorized Signatory: Shounak Chakravarty Designation of Authorized person/Signing Authority: Director, Ratings (LCG) 1) Issuer Details: Name of the issuer: IRM Energy Limited Names of the promoter: a. Mr. Rajiv Indravadan Modi b. IRM Trust c. Cadila Pharmaceuticals Limited Industry/sector to which it belongs: LPG/CNG/PNG/LNG Supplier 2) Issue Details Issue Period: Wednesday, October 18, 2023, to Friday, October 20, 2023 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Fresh issuance of Rs 5,449.96 million (Net proceeds of Rs 4,957.59 million) * *Crisil Ratings shall be monitoring the net proceeds. Net proceeds were revised from Rs 4,958.63 million to Rs 4,957.59 million. (Refer note 1 & 2 on Page 6) 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ Comments certifications Comments of the of the Particulars Reply considered by Monitoring Agency Board of Monitoring Agency Directors for preparation of report Management undertaking, Proceeds were Statutory auditor utilized for funding certificate^, capital expenditure Whether all utilization is as per the Prospectus dated requirement for No disclosures in the Offer Document? 21/10/2023 development of the Comments (hereinafter referred City Gas as “Offer Distribution document”), network Bank Statements Whether shareholder approval has been obtained in case of material deviations from No NA No Comments expenditures disclosed in the Offer Comments Document? Whether the means of finance for the No No No Comments disclosed objects of the issue has changed? Comments Is there any major deviation observed over No No No Comments the earlier monitoring agency reports? Comments Management Whether all Government/statutory Undertaking* No approvals related to the object(s) have been NA No Comments Comments obtained? Whether all arrangements pertaining to technical assistance/collaboration are in NA No Comments Comments operation? Are there any favorable events improving No No No Comments the viability of these object(s)? Comments Are there any unfavorable events affecting No No No Comments the viability of the object(s)? Comments Is there any other relevant information that may materially affect the decision making of No No Comments Comments the investors? NA represents Not Applicable *The Monitoring Agency has relied solely on the management undertaking as the Statutory Auditor has not expressed an opinion on these aspects. ^Certificate dated July 28, 2026, issued by M/s Mukesh M Shah & Co., Chartered Accountants (Firm Registration Number: 106625W), Statutory Auditors of the Company. 4) Details of object(s) to be monitored: i. Cost of the object(s): Source of Original Comments of the Board of Directors information/ cost Revised Comment certification (as per the Particulars Sr. Cost of the Item considered by Offer Reason of Proposed of firm No. (Rs in Monitoring Head MA for Document) Cost financing arrange- million) Agency preparation of (Rs in revision option ments report million) made Funding capital expenditure requirements for development of the City Gas Distribution network in the No 1 3,072.62 3,072.62 No Comments Geographical Areas of revision Namakkal and Management Tiruchirappalli (Tamil undertaking, Nadu) in Fiscal 2024, Statutory Fiscal 2025, Fiscal 2026 auditor and Fiscal 2027 certificate^, Prepayment or offer repayment of all or a document portion of certain No 2 1,350.00 1,350.00 No Comments outstanding revision borrowings availed by the Company (Refer General Corporate 3 536.01 534.97 Note No Comments Pu [Showing first 8,000 characters — download PDF for full document]