ASM TECHNOLOGIES

engineering innovation

ASM TECHNOLOGIES LIMITED

80/2, Lusanne Court, Richmond Road, Bangalore - 560 025

Tel: +91-80-66962300/01/02 Fax: +91-80-66962304 e-mail: [email protected] Website: www.asmitd.com

CIN: L85110KA1992PLC013421 GST No.: 29AABCA4362P1Z9

$15^{\text{th}}$ May, 2026

Department of Corporate Services

Bombay Stock Exchange Limited,

Phiroze Jeejeebhoy Towers,

25th Floor, Dalal Street,

Mumbai - 400 001.

Dear Sir,

Reg : Monitoring Agency Report for the Quarter Ended 31st March 2026.

Pursuant to the Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 173A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find attached Monitoring Agency Report for the quarter ended 31st March, 2026 issued by CRISIL Ratings Limited, Monitoring Agency towards utilisation of the proceeds raised through Qualified Institutions Placement.

This is for your information and record please

Thanking You,

Sincerely,

For ASM Technologies Limited

VANISHREE Kulkarni

Digitally signed by VANISHREE Kulkarni
Date: 2026.05.15 13:53:25 +05'30"

Vanishree Kulkarni
Company Secretary & Compliance Officer
(FCS:13306)

Crisil Ratings

Monitoring Agency Report for ASM Technologies Limited for the quarter ended March 31, 2026

Crisil Ratings Limited
Corporate Identity Number: U67100MH2019PLC326247
Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India
Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

Crisil Ratings

CRI/MAR/ADVASYN/2025-26/1767

May 15, 2026

To
ASM Technologies Limited
80/2 Lusanne Court, Richmond Road,
Bengaluru- 560025

Dear Sir,

Monitoring Agency Report for the quarter ended March 31, 2026 - in relation to the Preferential Issue of ASM Technologies Limited ("the Company")

Pursuant to Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations") and Monitoring Agency Agreement dated February 28, 2024, enclosed herewith the Monitoring Agency Report, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of Preferential issue for the quarter ended March 31, 2026.

Request you to kindly take the same on records.

Thanking you,

For and on behalf of Crisil Ratings Limited

Shounak Chakravarty
Director, Ratings (LCG)

Crisil Ratings

Report of the Monitoring Agency (MA)

Name of the issuer: ASM Technologies Limited

For quarter ended: March 31, 2026

Name of the Monitoring Agency: Crisil Ratings Limited

(a) Deviation from the objects: Not applicable
(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 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.

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.

Shounak Chakravarty

Signature:

Name and designation of the Authorized Signatory: Shounak Chakravarty

Designation of Authorized person/Signing Authority: Director, Ratings (LCG)

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

Crisil Ratings

1) Issuer Details:

Name of the issuer: ASM Technologies Limited
Names of the promoter: Mr. S Rabindra
Industry/sector to which it belongs: Computers - Software & Consulting

2) Issue Details

Issue Period: Friday, March 08, 2024, till Monday, March 12, 2024
Type of issue (public/rights): Preferential Issue
Type of specified securities: Equity shares and Convertible warrants
Issue size: Rs 170.13 crores* (Refer note 1 below, page no. 6)

*Crisil Ratings shall be monitoring the issue proceeds raised through issue of fully convertible share warrants and equity shares

3) Details of the arrangement made to ensure the monitoring of issue proceeds:

Particulars	Reply	Source of information/ certifications considered by Monitoring Agency for preparation of report	Comments of the Monitoring Agency	Comments of the Board of Directors
Whether all utilization is as per the disclosures in the Offer Document?	Yes	Statutory auditor certificate^, Management undertaking, Notice to Shareholders (hereinafter referred as “Offer document”) dated February 14, 2024, Bank Statements	Proceeds have been utilised towards funding organic and inorganic growth opportunities and strategic acquisitions as mentioned in Notice to Shareholders	No Comments
Whether shareholder approval has been obtained in case of material deviations from expenditures disclosed in the Offer Document?	NA		No Comments	No Comments
Whether the means of finance for the disclosed objects of the issue has changed?	No		No Comments	No Comments

Crisil
Ratings

Particulars	Reply	Source of information/ certifications considered by Monitoring Agency for preparation of report	Comments of the Monitoring Agency	Comments of the Board of Directors
Is there any major deviation observed over the earlier monitoring agency reports?	No	Statutory auditor certificate^, Management Undertaking	No Comments	No Comments
Whether all Government/statutory approvals related to the object(s) have been obtained?	NA		No Comments	No Comments
Whether all arrangements pertaining to technical assistance/collaboration are in operation?	NA		No Comments	No Comments
Are there any favorable events improving the viability of these object(s)?	No		No Comments	No Comments
Are there any unfavorable events affecting the viability of the object(s)?	No		No Comments	No Comments
Is there any other relevant information that may materially affect the decision making of the investors?	No		No Comments	No Comments

NA represents Not Applicable

^Certificate dated May 13, 2026, issued by M/s B.K. Ramadhyani & Co LLP, Chartered Accountants (Firm Registration Number: 215398), Statutory Auditors of the Company.

4) Details of object(s) to be monitored:

i. Cost of the object(s):

Sr. No.	Item Head	Source of information/ certification considered by MA for preparation of report	Original cost (as per the Offer Document) (Rs in crore)	Revised Cost (Rs in crore)	Comment of the MA	Comments of the Board of Directors
						Reason of Cost revision	Proposed financing option	Particulars of firm arrangements made
1	Funding organic and inorganic growth opportunities and strategic acquisitions	Management undertaking, Statutory auditor certificate^, Notice to Shareholders	130.00	130.00	No Revision	No Comments
2	General corporate purpose#		40.00	40.13	(Refer Note 1)	No Comments

Crisil
Ratings

Sr. No.	Item Head	Source of information/ certification considered by MA for preparation of report	Original cost (as per the Offer Document) (Rs in crore)	Revised Cost (Rs in crore)	Comment of the MA	Comments of the Board of Directors
						Reason of Cost revision	Proposed financing option	Particulars of firm arrangements made
	Total	-	170.00	170.13	-	Unallocated funds have been allocated to GCP

^Certificate dated May 13, 2026, issued by M/s B.K. Ramadhyani & Co LLP., Chartered Accountants (Firm Registration Number: 215398), Statutory Auditors of the Company.

*The amount utilised for general corporate purposes does not exceed 24% of the issue proceeds (amounting to Rs 40.80 crore) as per the Notice to Shareholders dated February 14, 2024.

Note 1: As per the Notice to Shareholders dated February 14, 2024, the amount to be raised from issue was Rs 170.13 crore. However, the Company had allocated Rs 170.00 crore towards the objects of the offer. Upon receipt of the entire issue proceeds, i.e., Rs 170.13 crore till the previous quarter, the Board of Directors of the Company, vide resolution dated August 09, 2025, allocated the difference amount of Rs 0.13 crore to GCP and consequently, the earmarked amount for GCP has been revised from Rs 40.00 crore to Rs 40.13 crore during the quarter ended December 31, 2025.

ii. Progress in the object(s):

Sr. No.	Item Head#	Source of information/ certifications considered by Monitoring Agency for preparation of report	Amount as proposed in the Offer Document (Rs in crore)	Amount utilized (Rs in crore)			Total unutilized amount (Rs in crore)	Comments of the Monitoring Agency	Comments of the Board of Directors
				As at beginning of the quarter	During the quarter	At the end of the quarter			Reasons for idle funds	Proposed course of action
1	Funding organic and inorganic growth opportunities and strategic acquisitions	Management undertaking, Statutory auditor certificate ^, Notice to Shareholders, Bank Statements	130.00	84.28	2.22	86.50	43.50	Proceeds have been utilised towards Funding organic growth opportunities i.e. purchase of land and equipments	It will be used towards organic and inorganic growth
2	General corporate purpose	Management undertaking, Statutory auditor certificate ^, Notice to Shareholders, Bank Statements	40.13	25.28	Nil	25.28	14.85	No utilisation during the reported quarter	It will be used in due course

Crisil Ratings

Sr. No.	Item Head#	Source of information/ certifications considered by Monitoring Agency for preparation of report	Amount as proposed in the Offer Document (Rs in crore)	Amount utilized (Rs in crore)			Total unutilized amount (Rs in crore)	Comments of the Monitoring Agency	Comments of the Board of Directors
				As at beginning of the quarter	During the quarter	At the end of the quarter			Reasons for idle funds	Proposed course of action
	Total		170.13	109.56	2.22	111.78	58.35	Refer below Note 2	It will be used in due course

Note 2: As of quarter ended June 30, 2025, the Company had received Rs 115.22 crore out of total net proceeds of Rs 170.13 crore. Further, during the quarter ended September 30, 2025, the Company has received the balance amount of Rs 54.91 crore from the warrant holders upon conversion of warrants into equity shares. Consequently, as of quarter ended March 31, 2026, the Company had received the entire amount of Rs 170.13 crore as mentioned in the Notice to Shareholders dated February 14, 2024.

^Certificate dated May 13, 2026, issued by M/s B.K. Ramadhyani & Co LLP., Chartered Accountants (Firm Registration Number: 215398), Statutory Auditors of the Company.

iii. Deployment of unutilised proceeds*:

S; No	Type of instrument and name of the entity invested in	Amount invested (Rs. In Crores)	Maturity date	Earning (Rs. In Crores) (Refer Note 3)	Return on Investment (%)	Market Value as at the end of quarter (if the market value is not feasible, provide NAV/NRV/Book value of the same) (Rs. In Crores)
1	Balance lying in preferential issue account maintained with ICICI Bank (Refer note 3)	0.21	-	-	-	0.21
2	Fixed deposits maintained at ICICI Bank - 193710013190	5.00	18-May-2026	0.11	4.75%	5.11
4	Fixed deposits maintained at ICICI Bank- 193710014195	0.22	18-May-2026	-	5.50%	0.22
5	Fixed deposits maintained at ICICI Bank- 193710013420	3.53	08-July-2026	0.09	5.50%	3.62

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

Crisil Ratings

S; No	Type of instrument and name of the entity invested in	Amount invested (Rs. In Crores)	Maturity date	Earning (Rs. In Crores) (Refer Note 3)	Return on Investment (%)	Market Value as at the end of quarter (if the market value is not feasible, provide NAV/NRV/Book value of the same) (Rs. In Crores)
6	MF-Arbitrage Opportunities Fund at SBI
Folio number: 45914611	19.39	-	0.69	-	20.08
7	MF-Arbitrage Opportunities Fund at SBI
Folio number: 15941169	30.00	-	1.26	-	31.26
	Total	58.35		1.95		60.50

Note 3: Monitoring the interest income earned on Fixed deposits does not from part of the scope of Monitoring Agency report

^On the basis of management undertaking and certificate dated May 13, 2026, issued by M/s B.K. Ramadhyani & Co LLP., Chartered Accountants (Firm Registration Number: 215398), Statutory Auditors of the Company.

iv. Delay in implementation of the object(s)^:

Object(s)	Completion Date		Delay (no. of days/ months)	Comments of the Board of Directors
	As per the Offer Document	Actual		Reason of delay	Proposed course of action
Not applicable^

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

Crisil Ratings

5) Details of utilization of proceeds stated as General Corporate Purpose amount in the offer document:

Not applicable for the quarter ended March 31, 2026, on the basis of management undertaking and certificate dated May 13, 2026, issued by M/s B.K. Ramadhyani & Co LLP., Chartered Accountants (Firm Registration Number: 215398), Statutory Auditors of the Company.

Crisil Ratings

Disclaimers:

a) This Report is prepared by Crisil Ratings Limited (hereinafter referred to as "Monitoring Agency" / "MA" / "CRL"). The MA has taken utmost care to ensure accuracy and objectivity while developing this Report based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. 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.

b) This Report has to be seen in its entirety; the selective review of portions of the Report may lead to inaccurate assessments. For the purpose of this Report, MA has relied upon the information provided by the management /officials/ consultants of the Issuer and third-party sources like statutory auditors (or from peer reviewed CA firms) appointed by the Issuer believed by it to be accurate and reliable.

c) Nothing contained in this Report is capable or 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 MA is also not responsible for any errors in transmission and specifically states that it, or its directors, employees do not have any financial liabilities whatsoever to the users of this Report.

d) The MA and its affiliates do not act as a fiduciary. The MA and its affiliates also do not act as an expert to the extent defined under Section 2(38) of the Companies Act, 2013. While the MA has obtained information from sources it believes to be reliable, it does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives from auditors (or from peer reviewed CA firms), lawyers, chartered engineers or other experts, and relies on in its reports.

e) The MA or its affiliates may have other commercial transactions with the entity to which the report pertains. As an example, the MA may rate the issuer or any debt instruments / facilities issued or proposed to be issued by the issuer that is subject matter of this report. The MA may receive separate compensation for its ratings and certain credit-related analyses, normally from issuers or underwriters of the instruments, facilities, securities or from obligors.

f) The MA report is intended for the jurisdiction of India only. This report does not constitute an offer of services. Without limiting the generality of the foregoing, nothing in the report is to be construed as CRL providing or intending to provide any services in jurisdictions outside India, where it does not have the necessary licenses and/or registration to carry out its business activities referred to above.

g) Access or use of this report does not create a client relationship between CRL and the user.

h) CRL is not aware that any user intends to rely on the report or of the manner in which a user intends to use the report. In preparing this report, MA has not taken into consideration the objectives or particular needs of any particular user.

i) It is made abundantly clear that the report is not intended to and does not constitute an investment advice. The report is not an offer to sell or an offer to purchase or subscribe for any investment in any securities, instruments, facilities or solicitation of any kind to enter into any deal or transaction with the entity to which the report pertains. The report should not be a basis for any investment decision within the meaning of any law or regulation (including the laws and regulations applicable in the US).

j) The report comprises professional opinion of CRL as of the date they are expressed, based on the information received from the issuer and other sources considered reliable by CRL. Any opinions expressed here are in good faith, are subject to change without notice, and are only current as of the stated date of their issue. The report does not constitute statements of fact or recommendations to purchase, hold or sell any securities/instruments or to make any investment decisions.

k) Neither CRL nor its affiliates, third-party providers, as well as their directors, officers, shareholders, employees or agents guarantee the accuracy, completeness or adequacy of the report, and shall not have any liability for any errors, omissions or interruptions therein, regardless of the cause, or for the results obtained from the use of any part of the report. CRL and each aforesaid party disclaims any and all express or implied warranties, including but not limited to any warranties of merchantability, suitability or fitness for a particular purpose or use or use. In no event shall CRL or any aforesaid party be liable to any user for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of any part of the report even if advised of the possibility of such damages.

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

Crisil Ratings

l) CRL has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with the preparation of this report. CRL has in place a code of conduct and policies for managing conflict of interest.

m) Unless required under any applicable law, this report should not be reproduced or redistributed to any other person or in any form without prior written consent from CRL.

n) By accepting a copy of this Report, the recipient accepts the terms of this Disclaimer, which forms an integral part of this Report.

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

AI assistant

ASM Technologies Ltd. Regulatory Filings 2026

62438_rns_2026-05-15_4194b87b-10a6-45d3-946d-b3b380727ec4.pdf

Monitoring Agency Report for ASM Technologies Limited for the quarter ended March 31, 2026

Monitoring Agency Report for the quarter ended March 31, 2026 - in relation to the Preferential Issue of ASM Technologies Limited ("the Company")

Report of the Monitoring Agency (MA)

Declaration:

Signature:

4) Details of object(s) to be monitored:

i. Cost of the object(s):

Disclaimers:

AI assistant

ASM Technologies Ltd. — Regulatory Filings 2026

62438_rns_2026-05-15_4194b87b-10a6-45d3-946d-b3b380727ec4.pdf

Monitoring Agency Report for ASM Technologies Limited for the quarter ended March 31, 2026

Monitoring Agency Report for the quarter ended March 31, 2026 - in relation to the Preferential Issue of ASM Technologies Limited ("the Company")

Report of the Monitoring Agency (MA)

Declaration:

Signature:

4) Details of object(s) to be monitored:

i. Cost of the object(s):

Disclaimers:

More from ASM Technologies Ltd.

ASM Technologies Ltd. Regulatory Filings 2026