Monitoring Agency Report

August 14, 2026 To, To, The Manager The Manager, Listing Department Listing Department BSE Limited (“BSE”) National Stock Exchange of India Phiroze Jeejeebhoy Towers, Limited (“NSE”) Dalal Street, Fort Exchange Plaza, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai 400 001 Mumbai 400 051 BSE Scrip Code: 544799 NSE Symbol: TURTLEMINT ISIN: INE0OC301013 Sub: Monitoring Agency Report for the quarter ended June 30, 2026. Dear Sir/Ma’am, Pursuant to the Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith the Monitoring Agency Report for the quarter ended June 30, 2026, in respect of utilization of proceeds of Initial Public Offer of Turtlemint Fintech Solutions Limited, issued by Care Ratings Limited, duly reviewed, approved and taken on record by the Audit Committee and the Board of Directors of the Company in their meeting held on August 14, 2026. We request you to take the above information on record. Thanking You, Yours Faithfully, For Turtlemint Fintech Solutions Limited (Formerly known as Turtlemint Fintech Solutions Private Limited and Fintech Blue Solutions Private Limited) Prashant Saini Company Secretary & Compliance Officer Membership No: A23769 Encl: As above Monitoring Agency Report No. CARE/PRO/GEN/2026-27/1060 The Board of Directors Turtlemint Fintech Solutions Limited The ORB Sahar, 4 and 4A, 1st Floor, A wing, Marol Village, Andheri East, Mumbai 400 099, Maharashtra, India August 14, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the IPO of Turtlemint Fintech Solutions Limited (“the Company”) We write in our capacity of Monitoring Agency for the IPO for the amount aggregating to Rs.660.72 crore of the Company and refer to our duties cast under 41 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June 30, 2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated June 03, 2026. Request you to kindly take the same on records. Thanking you, Yours faithfully, Ashish Kashalkar Associate Director ashish.kashalkar@careedge.in Report of the Monitoring Agency Name of the issuer: Turtlemint Fintech Solutions Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: No deviation (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 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 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: Ashish Kashalkar Designation of Authorized person/Signing Authority: Associate Director 1) Issuer Details: Name of the issuer : Turtlemint Fintech Solutions Limited Name of the promoter : Mr. Anand Prabhudesai and Mr. Dhirendra Mahyavanshi Industry/sector to which it belongs : Financial services - Financial Technology (Fintech) 2) Issue Details Issue Period : June 19, 2026, to June 23, 2026 Type of issue (public/rights) : Public Type of specified securities : Equity Shares IPO Grading, if any : Not Applicable Issue size (in crore) : Rs.660.72 crore 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Board of Monitoring Agency preparation of report Directors Chartered Accountant (CA) Certificate* Whether all utilization is as per the disclosures in the Offer There is no utilization of funds during the Yes Prospectus^, Bank statements, No Comment Document? quarter. Management Certificate Whether shareholder approval has been obtained in case of CA Certificate*, Prospectus^, and material deviations# from expenditures disclosed in the Offer Not Applicable Nil No Comment Management Certificate Document? Whether the means of finance for the disclosed objects of the CA Certificate*, Prospectus^, No Nil No Comment issue have changed? Management Certificate Is there any major deviation observed over the earlier Not Applicable Not Applicable This is the first monitoring agency report. No Comment monitoring agency reports? Whether all Government/statutory approvals related to the CA Certificate*, Prospectus^, Not Applicable Not Applicable No Comment object(s) have been obtained? Management Certificate Whether all arrangements pertaining to technical CA Certificate*, Prospectus^, Not Applicable Not Applicable No Comment assistance/collaboration are in operation? Management Certificate Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Board of Monitoring Agency preparation of report Directors Are there any favorable/unfavorable events affecting the CA Certificate*, Prospectus^, No Nil No Comment viability of these object(s)? Management Certificate Is there any other relevant information that may materially affect CA Certificate*, Prospectus^, The company has incurred operating and Yes No Comment the decision making of the investors? Management Certificate net losses in the past several years. *The above details are verified by S K Patodia & Associates vide its CA certificate dated July 30, 2026. ^Sourced from page no. 164 of the prospectus. #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 actually utilized by more than 10% of the amount projected in the offer documents. 4) Details of objects to be monitored: (i) Cost of objects – Original Sr. Item Revised Cost Comments of the Board of Directors Source of information / cost Comments certifications considered (as per the of the Particulars of Proposed by Monitoring Agency for Offer Monitoring Reason [Showing first 8,000 characters — download PDF for full document]