Monitoring Agency Report

Second Monitoring Agency Report 7Seas Entertainment Limited for the quarter ended June 30, 2026 No. BWR/2026-27/IPM/SSEL/02 August 13, 2026 Mr. Maruti Sanker Lingamaneni Managing Director, 7Seas Entertainment Limited 05th Floor, Plot No. 92, 93 & 94, Kavuri Hills, Madhapur Hyderabad, Telangana – 500 081 Dear Sir, Second Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Preferential issue of Equity Shares and convertible warrants of 7 Seas Entertainment Limited (“the Company”) Pursuant to Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Engagement Letter dated February 13, 2026, Brickwork Ratings (BWR) has prepared the Second Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds from the funds raised, for the quarter ended June 30, 2026. The funds raised by the Company were through Preferential issue of Equity Shares and convertible warrants aggregating to Rs.17.32 Crore of the Company. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June 30, 2026, as per Monitoring Agency Agreement dated April 03, 2026. Request you to kindly take the same on records. Thanking you, Yours Faithfully, Mr Niraj Kumar Rathi Senior Director, Ratings - Brickwork Ratings Report of the Monitoring Agency (MA) Name of the issuer: 7Seas Entertainment Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Brickwork Ratings India Private Limited (a) Deviation from the objects: No (b) Range of Deviation: Not Applicable Declaration: We declare that this report is based on the format prescribed by the SEBI (ICDR) Regulations, 2018, we further declare that this report provides a true and fair 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. We declare that we do not have any direct/indirect interest in or relationship with the issuer/promoters/directors/management and 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. 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 a 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 “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors after 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 of the Authorized Signatory: Mr Niraj Kumar Rathi Designation of Authorized Person/Signing Authority: Senior Director, Ratings - Brickwork Ratings 1) Issuer Details: Name of the issuer: 7 Seas Entertainment Limited Names of the promoter: Mr. Maruti Sanker Lingamaneni and Mrs. L. Hemalatha Industry / sector to which it belongs: Digital Entertainment and Gaming 2) Issue Details: Issue period: NA Type of issue (public/ rights): Preferential issue Type of specified securities: Equity Shares and convertible warrants IPO Grading, if any: Not Applicable Issue size (in ₹ Crore): 17.32 Amount Total Number of Value as per offer Document Particulars Price (₹) Received Securities (₹ Crore) (₹ Crore) Equity Shares 7,90,000 80 6.32 4.80* Convertible Warrants 13,75,000 80 11.00 2.75* Total 21,65,000 80 17.32 7.55 Note: 1. Issue of not exceeding 21,65,000 Securities divided into a. Issue up to 13,75,000 convertible warrants at an issue price of Rs. 80/- each to the Promoters and non-Promoters on a Preferential basis. b. Issue of up to 6,00,000 equity shares at an issue price of Rs. 80/- each to the non-Promoters on a Preferential basis. c. Issue of up to 1,90,000 equity shares at an issue price of Rs. 80/- each aggregating to Rs 1.52 crores by conversion of Unsecured Loan into equity to the Promoters on a Preferential basis because of this the amount of Rs 1.52 crores was not credited to the designated bank account for the preferential issue proceeds. 2. Each warrant is convertible into, or exchangeable for, one (1) equity share and the conversion can be carried out at any time within a period of 18 months from date of allotment of warrants, in one or more tranches, as the case maybe, and on such other terms and conditions as applicable 3. As of June 30, 2026, the Company has received Rs 2.75 crore against the total warrant issue proceeds of Rs 11.00 crore, representing 25.00% of the total proceeds from the warrant issue. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments Comments certifications of of Particulars Reply considered by Monitoring Board of Monitoring Agency Agency Directors for preparation of report Bank Statements, Whether all utilization is as per Invoices, the disclosures in the Offer Yes Nil Nil Company’s Letter, Document? CA Certificate. Whether shareholder approval has been obtained in case of material deviations# from Nil Nil Nil Applicable expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the issue No Nil Nil Nil has changed? Is there any major deviation observed over the earlier No Nil Nil Nil monitoring agency reports? Whether all Government/statutory approvals Yes Company’s letter Nil Nil related to the object(s) have been obtained? Whether all arrangements pertaining to technical Not Nil Nil Nil assistance/collaboration are in Applicable operation? Are there any favourable events improving the viability of these No Company’s letter Nil Nil object(s)? Are there any unfavourable events affecting the viability of the No Company’s letter Nil Nil object(s)? Is there any other relevant information that may materially No Not Applicable Nil Nil affect the decision making of the investors? Note: The above details are verified by Sathuluri & Co. Chartered Accountants Firm Reg. No.006383S vide its CA Certificate dated August 13, 2026 and company statement dated August 10, 2026. #Where material deviation may be defined to mean: (a) Deviation in the objects or purposes for which the funds have been raised (b) Deviation in the amount of funds utilised by more than 10% of the amount projected in the offer documents. 4) Details of object(s) to be monitored: i. Cost of object(s): Source of information / Original Comments of the Board of Directors certifications Cost (as Revised Co [Showing first 8,000 characters — download PDF for full document]