Report pertaining to the utilisation of Qualified Institutional Placement proceeds for the quarter ended June 30, 2026

August 14, 2026 BSE Limited (BSE) Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai - 400 001 BSE Script Code: 544224 Dear Sir/ Madam, Subject: Monitoring Agency Report for the quarter ended June 30, 2026 Pursuant to Regulation 32(6) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed the Monitoring Agency Report issued by Brickwork Ratings India Private Limited, the Monitoring Agency, for the quarter ended June 30, 2026 in respect of Qualified Institutional Placement proceeds of the company. The Company will also host this report on the website at https://afcomcargo.com/ Kindly take the same on your records. Yours truly, For Afcom Holdings Limited Ajith Kumar Company Secretary & Compliance Officer First Monitoring Agency Report for afcom Holdings Ltd. for the quarter ended June 30, 2026 No. BWR/2026-27/IPM/AHL/01 August14, 2026 Capt. Deepak Parasuraman Managing Director 2, LIC Colony, Dr. Radhakrishnan Nagar, Thiruvanmiyur, Chennai, Tamil Nadu, India, 600041 Dear Sir, FirstMonitoring Agency Report for the quarter ended June30, 2026-in relation to theQIP Equityshareissue ofafcomHoldings Ltd.“the company” Pursuant to Regulation 162A of the SEBI Issue of Capital and Disclosure Requirements Regulations, 2018 (SEBI ICDR Regulations) amended as on March 8, 2025, Brickwork Ratings (BWR) has prepared the First Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards utilisation of proceeds of funds raised, for the quarter ended June 30, 2026. The funds raised by the Company were through QIP Equity Shares of Rs.199.85 Crore of the Company. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June30, 2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated April 21, 2026. Request you to kindly take the same on records. Thanking you, Yours Faithfully, Digitally signed by NIRAJ KUMAR NIRAJ KUMAR RATHI RATHI Date: 2026.08.14 17:31:40 +05'30' Mr Niraj Kumar Rathi Senior Director, Ratings-Brickwork Ratings Report of the Monitoring Agency (MA) Name of the issuer:afcomHoldings Limited For quarterended:June 30, 2026 Name of the Monitoring Agency:BrickworksRatings 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 proceedsin 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 also 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 anylegally 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 toor 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 a(cid:2)iliates also do not act as an expert as defined underSection 2(38) of the Companies Act, 2013. The MA or its a(cid:2)iliates may have a creditrating 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. Weconfirm 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 commercialtransactions 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 tothe 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 ofthe 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: afcom holdingLimited Names of the promoter: Capt. Deepak Parasuraman, Kannan Raramakrishnan, Manjula Annamalai, Wing Commander Jaganmohan Manthena Industry/sectorto which it belongs: Air Freight and Logistics 2) Issue Details: Issue period: 04to05May2026 Type of issue (public/ rights): QIP Type of specified securities: Equity Shares IPO Grading, if any: Not Applicable Issue size (in ₹Crore): 199.84 Value as per Amount Total Number of Total number of Particulars Price (₹) Offer Document Received Securities sharesallotted (₹Crore) (₹Crore) 2630520 Equity Shares 749.72 199.84 2630520 199.84 Total 2630520 199.84 2630520 199.84 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of considered by Comments of Particulars Reply Board of Monitoring Monitoring Agency Directors Agency for preparation of report Bank Statements, Whether all utilization is as per the Yes Company’s Nil Nil disclosures in the O(cid:3)er Document? letter, CA Certificate Whether shareholder approval has been obtained in case of material Not Nil Nil Nil deviations#from expenditures Applicable disclosed in the O(cid:3)er Document? Whether the means of finance for the disclosed objects of the issue No Nil Nil Nil has changed? Is there any major deviation Monitoring is being observed over the earlier No Nil Nil done for the first time monitoring agency reports? Whether all Government/statutory approvals related to the object(s) Yes Company’s letter Nil Nil have been obtained? Whether all arrangements pertaining to technical Not Nil Nil Nil assistance/collaboration are in Applicable operation? Are there any favourableevents improving the viability of these No Company’s letter Nil Nil object(s)? Are there any unfavourableevents a(cid:3)ecting 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 a(cid:3)ect the decision making of the investors? Notes:CA certificate from P P N AND COMPANY, #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 utilisedby more than 10% of the amount projected in the o(cid:2)er documents. 4) Details of object(s) to be monitored: i. Cost of object(s): Source of Comments of the Board of Directors information / Original certifications Cost (as Revised Comments considered Particulars of Sr. per the Cost of the Reason Proposed Item Head by firm No. O(cid:3)er (₹ Monitoring of cost financing Monitoring arrangements Document) Crore) Agency revision option Agency for made (₹Crore) preparation of report Bank Statements, Capital No Comments 1. Company 150.52 Nil Nil Expenditure letter,CA Certificate Bank General Stateme [Showing first 8,000 characters — download PDF for full document]