Monitoring Agency Report for the quarter ended 30.06.2026

Date: 14th August, 2026 BSE Limited, National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Bandra Kurla Dalal Street, Complex,Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 540879 Symbol: APOLLO ISIN: INE713T01028 Dear Sir(s), Sub: Submission of Monitoring Agency Report under Regulation 32(6) of SEBI (Listing obligations and Disclosures Requirements) Regulations, 2015 – Utilization of Preferential Issue Proceeds. Pursuant to the provisions of Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 and Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we hereby submit the Monitoring Agency Report for the quarter ended 30th June, 2026, issued by Acuite Ratings & Research Limited. We Request you to kindly take on record. Yours faithfully For Apollo Micro Systems Limited Karunakar Reddy Baddam Managing Director DIN: 00790139 Apollo Micro Systems Limited Regd Office. Plot No.128/A, Road No.12, IDA-Mallapur, Uppal Mandal, Hyderabad-500076, Telangana, India Tel No:040-27167000-099, Fax No: 040-27150820 Mail: cs@apollo-micro.com, www.apollo-micro.com CIN:L72200TG1997PLC026556 Report of the Monitoring Agency (MA) Name of the issuer : Apollo Micro Systems Limited For quarter ended : Q1 FY2026-27 Name of the Monitoring Agency : Acuité Ratings and Research Limited (a) Deviation from the objects : No deviation is observed. (b) Range of Deviation : Not applicable (C) Any other material fact to be highlighted : None. 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: Vikas Mishra Deputy Vice President - Process Excellence Report Date: August 14, 2026 1. Issuer Details: Name of the issuer : Apollo Micro Systems Limited Names of the promoter : Mr. Karunakar Reddy Baddam Industry/sector to which it belongs : Aerospace and Defense / Capital Goods 2. Issue Details: Issue Period : April and May 2025 Type of issue : Preferential Issue Type of specified securities : Equity Shares and Convertible Warrants IPO Grading, if any : Not applicable Issue size (INR Cr.) : 742.25 Amount as Amount to Offer Price proposed in the Actual Particulars Units Issued be raised (INR) Offer Document Allotment (INR Crs.) (INR Crs.) Equity Shares 3,34,18,806 114.00 380.97 2,70,42,894 308.29 Warrants** 3,81,67,059 114.00 435.10 3,80,67,058 433.96 Total 7,15,85,865 - 816.08 6,51,09,952 742.25 *For additional details, refer Page No. 4 **All share warrants issued by the company have been converted into an equivalent number of Equity Shares as of Q1 FY2026-27. Report Date: August 14, 2026 3. D etails of the arrangement made to ensure the monitoring of issue proceeds Source of Information / Sr. Reply from the certifications considered by Comments of the Audit Particulars Comments of the Monitoring Agency No. issuer Monitoring Agency for Committee preparation of report Utilization in respective objects is as Whether all utilization is as per the disclosures in the per disclosures by the company. 1 Yes Yes Offer Document? Please refer Heading 4. ii. Progress in the object(s). Whether shareholder approval has been obtained 2 in case of material deviations from expenditures Not applicable Material deviation is not observed. There are no deviations disclosed in the Offer Document? Whether the means of finance for the disclosed 3 No No change is observed. There is no change objects of the issue has changed? The issuer had not appointed any Is there any major deviation observed over the 4 earlier monitoring agency reports? Not applicable Documents provided by the other Monitoring Agency to monitor NA issuer including: utilization of these objects. Yes the in principle Whether all Government/statutory approvals Bank statements, Invoices, Government / Statutory approval is 5 Yes approval from stock related to the object(s) have been obtained? Statutory Auditors Certificate not required for objects. exchanges is received issued by M/s S T Mohite & Co., Whether all arrangements pertaining to technical etc. No arrangement pertaining to 6 Not applicable technical assistance / collaboration is NA assistance/collaboration are in operation? required with reference to the object. No favorable event is observed that Are there any favorable events improving the 7 NA may improve the viability of these No viability of these object(s)? objects. Are there any unfavorable events affecting the No unfavorable event is observed No unfavourable events 8 No viability of the object(s)? affecting the viability of these objects. occurred Is there any other relevant information that may No relevant information is evident 9 materially affect the decision making of the No that may materially affect the No investors? decision making of the investors. Report Date: August 14, 2026 4. Details of object(s) to be monitored: i. Cost of object(s) Source of information / Original cost Comments of the Audit Committee certifications (as per the Revised Sr. Item Comments of the considered by Offer Cost No. Head Monitoring Agency for Document) (INR Cr.) Monitoring Agency Reason of Proposed Particulars of firm preparation of report (INR Cr.) Cost revision financing arrangement option For Working Capital 1 500.00 454.77 Requirement Documents provided by For Research & the issuer including: The Company has proposed to raise Rs.816.08 crores. Development Expenditure 2 for development of futuristic Bank statements, 75.00 68.21 Revision of cost of However the Company has received subscription for technologies Invoices, Statutory object(s) was reported in Rs.742.25 crores, hence the cost is revised Auditors Certificate earlier reporting periods. 3 Investment in Subsidiary (ies) issued by M/s S T Mohite 66.00 60.03 & Co., etc. 4 General Corporate Purposes 175.08 159.24 Total 816.08 742.25 Report Date: August 14, 2026 ii. Progress in the object(s) – Source of Amount utilized Comment [Showing first 8,000 characters — download PDF for full document]