Monitoring Agency Report for the quarter ended June 30, 2026.

To, Date- 14th August 2026 BSE Limited Phirozee Jeejeebhoy Towers, Dalal Street, Mumbai -400 001. Scrip Code: BSE: 526570 Sub: Monitoring Agency Report for the quarter ended June 30, 2026 on the utilization of proceeds raised through preferential allotment. Dear Sir/Madam, Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the applicable provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time, please find enclosed the Monitoring Agency Report dated August 14, 2026, issued by Infomerics Valuation and Rating Limited, the Monitoring Agency appointed for monitoring the utilization of proceeds raised through the Preferential Issue, for the quarter ended June 30, 2026. The said Monitoring Agency Report has been reviewed and noted by the Audit Committee and the Board of Directors at their respective meetings held on August 14, 2026. Kindly take the same on record. Thanking you, For MIDWEST ENERGY LIMITED (Formerly Known as Midwest Gold Limited) Prabhat Bhamini Company Secretary & Compliance Officer Membership No.: A69664 Midwest Energy Limited (Formerly Known as Midwest Gold Limited) 19th Floor, Tower-1, Prestige Skytech, Nanakramguda, Hyderabad-500032 Tel: +91 40 40733000 Email: raghav@midwestenergy.in, soumya@midwestenergy.in C IN: L12300TG1990PLC163511 Monitoring Agency Report for Midwest Energy Limited for the quarter ended June 30, 2026 Monitoring Agency Report August 14,2026 Midwest Energy Limited 1st Floor, H.No.8-2-684/3/25 & 26 Road No.12, Banjara Hills, Hyderabad, Hyderabad, Telangana, Dear Sir, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Preferential issue of Midwest Energy Limited (“The Company”) We write in our capacity of Monitoring Agency for the Preferential issue of equity shares for the amount aggregating to Rs. 200.00 crore of the Company and refer to our duties cast under 162A of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018 (SEBI ICDR 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 13th November 2024. Request you to kindly take the same on records. Thanking you, For and on behalf of Infomerics Valuation and Rating Limited Amit Bhuwania (Director - Ratings) abhuwania@infomerics.com Report of the Monitoring Agency Name of the Issuer: Midwest Energy Limited For quarter ended: June 30,2026 Name of the Monitoring Agency: Infomerics Valuation and Rating Limited (a) Deviation from the objects: Nil (b) Range of Deviation: Nil Indicate range of percentage deviation from the amount of issue proceeds earmarked for objects. For example, up to 10%, 10 – 25%, 25-50%, 50-75%, 75-100%, not ascertainable etc. * Range of Deviation may be computed by taking weighted average of financial deviation of each object in the ratio of issue proceeds allocated for it. Non-financial deviation may be indicated separately by way of notes. 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 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 issue proceeds by the issuer. We further declare that this report provides true and fair view of the utilization of issue proceeds. Signature: Name of the Authorized Person/Signing Authority: Amit Bhuwania Designation of Authorized person/Signing Authority: Director - Ratings Seal of the Monitoring Agency: Date: August 14,2026 1) Issuer Details: Name of the issuer: Midwest Energy Limited (MEL) Names of the promoters of the issuer: Ram Raghava Reddy Kollareddy Industry/sector to which it belongs: The Company is presently engaged in the manufacturing of rare earth magnets. 2) Issue Details: Issue Period: March 25, 2026 to April 08,2026 Type of issue (public/rights): Preferential Issue Type of specified securities: Equity shares Grading: Not Applicable Issue size (Rs in Crores): Rs. 200.00 crores (Note No. 1) Note 1 The company offers 10,00,000 (Ten Lakh) Equity Shares of Rs. 10/- (Rupees Ten only) on a preferential basis each at an issue price of Rs. 2000/- (Rupees Two Thousand only) per share aggregating to Rs. 200.00 crore as per SEBI Guidelines for Preferential Issue. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Particulars Reply Source of information / Comments of Monitoring Comments of certifications considered by Agency Board of Monitoring Agency for Directors preparation of report Whether all the utilization is as per disclosure in Yes, the utilization Bank Statement**, CA Note 2* Offer has been made as Certificate*, Ledgers, Document? per Offer management declaration Document. Whether Shareholder approval is obtained in case Not Applicable Board Resolution, EGM Notice Note 3* of material deviations from expenditures dated Feb 19,2026 disclosed in Offer Document? Whether means of finance for disclosed objects of There is no change Not applicable No Comments the Issue has changed? in the means of finance for disclosed objects Any major deviation observed over the earlier No deviation Not Applicable No deviation monitoring agency reports? Whether all Government / Statutory approvals Yes Principal approval from BSE No Comments related to the object(s) obtained? Whether all arrangements pertaining to technical Not Applicable Not applicable Not Applicable assistance/collaboration in operation? Any favourable events improving object(s) There are no Not applicable Nil viability events affecting the viability of these objects. Any unfavourable events affecting object(s) There are no Not applicable Nil viability events affecting the viability of these objects. Any other relevant information that may There is no Not applicable Nil materially affect the decision making of the relevant investors information that may affect the decision making of the investor * The above details are verified by Statutory Auditor Majeti & Co. Chartered Accountants (FRN:015975S) vide its CA certificate dated July 11, 2026. ** Bank statements of Share application money of Midwest Gold Limited received from 1st Apr 2026 to 30th June 2026 Bank Statements of MAMPL received from 1st April 2026 to 30th June 2026 Bank Statements of MEDPL received from 1st April 2026 to 30th June 2026 Bank Statements of MEL received from 1st April 2026 to 30th June 2026 *Note 2: As of Q1FY27, the company has utilised Rs. 158.32 crore out of the Rs. 184.85 crore raised through t [Showing first 8,000 characters — download PDF for full document]