Statement of deviation(s) or variation(s) under Reg. 32

Date: August 14, 2026 To, To, Department of Corporate Services, Listing Department, BSE Limited, National Stock Exchange of India Limited, P J Towers, Dalal Street, “Exchange Plaza”, C-1, Block-G, Mumbai- 400 001. Bandra Kurla Complex, Bandra (E), BSE: Scrip Code: 531112 Mumbai- 400 051. NSE Trading Symbol: BALUFORGE Respected Sir / Madam, Subject: Statement of Deviation or Variation in the use of proceeds raised through Preferential Issue for the Quarter ended 30th June, 2026 as per Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Pursuant to Regulation 32 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No CIR/CFD/CMD1/162/2019 dated December 24, 2019, it is being informed that there is no deviation or variation in use of proceeds raised through preferential issue for the Quarter ended 30th June, 2026, as mentioned in the Objects stated in Private Placement Offer Letter cum Application Form. Accordingly, please find enclosed herewith statement indicating no deviation or variation in the use of proceeds raised through preferential issue for the Quarter ended 30th June, 2026, duly reviewed and approved by the Audit Committee of the Company by way of Circular Resolution on August 14, 2026, in the prescribed format attached as Annexure I. Kindly take the same on your records. For Balu Forge Industries Limited Jaspalsingh Prehladsingh Chandock Managing Director DIN 00813218 Enclosure: As above Annexure-I Statement of Deviation/Variation in Utilization of funds (1) Mode of Fund Raising Preferential Issues Description of mode of fund raising (Applicable in case of others is selected) Date of Raising Funds 25.02.2026 Amount Raised (in Rs. Lakhs) 4401.00 Report filed for Quarter ended 30.06.2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable Infomerics Valuation and Rating Pvt. Ltd. Is there a Deviation / Variation in use of No funds raised If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders If Yes, Date of shareholder Approval Explanation for the Deviation / Variation Not Applicable Comments of the Audit Committee after Not Applicable review Comments of the auditors, if any Not Applicable Objects for which funds have been raised and where there has been a deviation, in the following table: Sr. Original Object Modified Original Modified Funds Utilised Amount of N Object, if Allocation Allocation, Deviation/ o. any if any Variation for the quarter according to applicable object 1 Purchase & NA 1100.25 0.000 1100.25 0.000 installation of new & existing Plant & Machinery 2 For Working Capital NA 2200.50 0.000 2200.50 0.000 Requirements of the Company 3 To meet general NA 1100.25 0.000 1100.25 0.000 corporate purpose which shall not exceed 25% of the Issue Size Statement of Deviation/Variation in Utilization of funds (2) Mode of Fund Raising Preferential Issues Description of mode of fund raising (Applicable in case of others is selected) Date of Raising Funds 06.03.2026 Amount Raised (in Rs. Lakhs) 5562.00 Report filed for Quarter ended 30.06.2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable Infomerics Valuation and Rating Pvt. Ltd. Is there a Deviation / Variation in use of No funds raised If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders If Yes, Date of shareholder Approval Explanation for the Deviation / Variation Not Applicable Comments of the Audit Committee after Not Applicable review Comments of the auditors, if any Not Applicable Objects for which funds have been raised and where there has been a deviation, in the following table: Sr. Original Object Modified Original Modified Funds Utilised Amount of N Object, if Allocation Allocation, Deviation/ o. any if any Variation for the quarter according to applicable object 1 Purchase & NA 1390.50 0.000 1390.50 0.000 installation of new & existing Plant & Machinery 2 For Working Capital NA 2781.00 0.000 2781.00 0.000 Requirements of the Company 3 To meet general NA 1390.50 0.000 1390.50 0.000 corporate purpose which shall not exceed 25% of the Issue Size Statement of Deviation/Variation in Utilization of funds (3) Mode of Fund Raising Preferential Issues Description of mode of fund raising (Applicable in case of others is selected) Date of Raising Funds 09.03.2026 Amount Raised (in Rs. Lakhs) 4617.00 Report filed for Quarter ended 30.06.2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable Infomerics Valuation and Rating Pvt. Ltd. Is there a Deviation / Variation in use of No funds raised If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders If Yes, Date of shareholder Approval Explanation for the Deviation / Variation Not Applicable Comments of the Audit Committee after Not Applicable review Comments of the auditors, if any Not Applicable Objects for which funds have been raised and where there has been a deviation, in the following table: Sr. Original Object Modified Original Modified Funds Utilised Amount of N Object, if Allocation Allocation, Deviation/ o. any if any Variation for the quarter according to applicable object 1 Purchase & NA 1154.25 0.000 1154.25 0.000 installation of new & existing Plant & Machinery 2 For Working Capital NA 2308.50 0.000 2308.50 0.000 Requirements of the Company 3 To meet general NA 1154.25 0.000 1154.25 0.000 corporate purpose which shall not exceed 25% of the Issue Size