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

Dated: August 14, 2026 The Secretary, Listing Department The Secretary, Listing Department National BSE Limited Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Exchange Plaza, C-1, Block G, Bandra Kurla Street, Mumbai – 400 001 Complex, Bandra Kurla (E), Mumbai – 400 051 Scrip Code: 544405 Symbol: BELRISE ISIN: INE894V01022 ISIN: INE894V01022 Sub: Statement of deviations or variation in utilization of funds raised through, Initial Public Offerings (“IPO”) disclosure requirement under Regulation 32 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”) for the quarter ended on June 30, 2026 Dear Sir/ Madam, This is to inform you that pursuant to the Regulation 32(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we are enclosing herewith, the statement of deviations and category wise variations in respect of utilization of gross proceeds raised through Initial Public Offerings (“IPO”) by the Company for the quarter ended June 30, 2026, as reviewed by Audit Committee at its meeting held on Friday, August 14, 2026. The statement deviation(s) or variation(s) as required vide SEBI Circular CIR/CFD/CMD1/162/2019 dtd. December 24, 2019 read with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 and is attached as Annexure A. This statement of deviation or variation is also made available on the Company’s website under the tab “Investor Relations” at https://belriseindustries.com. You are requested to take the above on record. Thanking you, Yours faithfully, For Belrise Industries Limited Siddhesh Mandke Company Secretary and Compliance Officer Membership No. A20101 Encl: As above Annexure – A STATEMENT OF DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE Statement on deviation / variation in utilization of funds raised Name of listed entity Belrise Industries Limited Mode of Fund Raising IPO – Public Issue Date of Raising Funds Tuesday, May 20, 2025 to Friday May 23, 2025 Amount Raised Rs. 21,500 million (Gross Proceeds Rs. 20,286.12 million * (Net of issue expenses) Report filed for Quarter ended June 30, 2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable Crisil Ratings Limited Is there a Deviation / Variation in use of funds raised If yes, whether the same is pursuant to change in N.A. terms of a contract or objects, which was approved by the shareholders If Yes, Date of shareholder Approval N.A. Explanation for the Deviation / N.A. Variation Comments of the Audit Committee after review Comments of the auditors, if any Nil Objects for which funds have been raised and where there has been a Net Proceeds of Fresh Issue are proposed to be utilised as given below: deviation, in the following table: Original Object Modified Original Modified Funds Amount of Remark Object, Allocation allocation, Utilised Deviation/ s if any if any (INR Variation for if any (INR Million) the quarter Million) according to As on applicable March object 31, 2026 Repayment/prepayment of Not 16181.27 15,960.21 15,960.2 0.00 Nil indebtedness availed by Applicable 1 By the Company General corporate purposes Not 4104.85 4690.46 4,685.85 0.00 Refer Applicable Note Note: The Company has completed its Initial Public Offer ("IPO") of 238,888,888 Equity shares of Face value of ₹ 5/- each ("equity shares") for cash at a price of ₹ 90/- per Equity Share (including a share premium of ₹ 85/- per Equity Share) million by issue of 238,888,888 fresh equity shares aggregating to ₹ 21,500 million (the "fresh issue"). The equity shares of the Company got listed with BSE Limited and National Stock Exchange of India Limited on May, 28 2025. The issue was made in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. The unutilised proceeds has been temporarily invested/parked in bank accounts , deposits, bonds and commercial paper. * The originally estimated repayment of debt amounting to ₹16,181.27 million have been actualized ₹15,960.20 million, as per the loan outstanding as on May 29, 2025 and₹ 15,960.21 million were paid during the previous quarter ended June 30 2025. Accordingly, General Corporate Purpose was increased from originally ₹4,104.85 million to ₹4,325.91 million. Consequently, GCP amount was again revised from Rs 4,325.91 million to Rs 4,690.46 million. This revision is in line with flexibility provided in the offer document. Details of utilisation for quarter ended June 30, 2026 as under- Sr. Item Head Amount as Total Amount utilized (Rs in million) No. proposed in the unutilized Offer Document amount As at beginning During the At the (Rs. in million) (Rs. in of the quarter quarter end of million) quarter 1 Repayment/pre- payment, in full or 15,960.21 15,960.21 Nil 15,960.21 Nil in part, of certain outstanding borrowings availed by the Company 2 General corporate purposes 4,690.46 4,321.64 364.21 4,685.85 4.61 Net Proceeds - 20,650.67 20,281.85 364.21 20,646.06 4.61 Issue Expenses 3 849.33 779.47 6.24 785.71 63.62 Gross Proceeds 21,500.00 21,061.32 370.45 21,431.77 68.23 Deviation or variation could mean: a) Deviation in the objects or purposes for which the funds have been raised; or b) Deviation in the amount of funds actually utilized as against what was originally disclosed; or c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc. Yours faithfully, For Belrise Industries Limited Siddhesh Mandke Company Secretary and Compliance Officer Membership No. A20101 Place: Pune Dated: August 14, 2026