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KALYANI WALLA & MISTRY LLP CHARTERED ACCOUNTANTS REVIEW REPORT TO THE BOARD OF DIRECTORS GRINDWELL NORTON LIMITED 1 . 2 . 3 . 4 . We have reviewed the accompanying Unaudited Standalone Financial Results for the quarter ended June 30 , 2026 , of GRINDWELL NORTON LIMITED ( " the Company ” ) together with the notes thereon , ( " the Statement " ) attached herewith , being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 , as amended , duly initialled by us for identification . This Statement which is the responsibility of the Company's Management and has been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on July 24 , 2026 , has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 ‘ Interim Financial Reporting ' ( ' Ind AS 34 ' ) , prescribed under Section 133 of the Companies Act , 2013 ( " the Act " ) read with relevant Rules issued thereunder , as applicable and other accounting principles generally accepted in India . Our responsibility is to issue a report on the Statement based on our review . We conducted our review of the Statement in accordance with the Standard on Review Engagements ( SRE ) 2410 , " Review of Interim Financial Information Performed by the Independent Auditor of the Entity " issued by the Institute of Chartered Accountants of India . This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement . A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit . We have not performed an audit and accordingly , we do not express an audit opinion . Based on our review conducted as above , nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 , as amended , including the manner in which it is to be disclosed , or that it contains any material misstatement . Other Matter Attention is drawn to the fact that the figures for the quarter ended March 31 , 2026 , as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year . The figures up to the end of the third quarter of the previous financial year had been reviewed and were not subjected to audit . Our conclusion is not modified in respect of the above matter . For KALYANIWALLA & MISTRY LLP CHARTERED ACCOUNTANTS Firm Regn . No .: 104607W / W100166 3 9. Fraser Daraius Fraser PARTNER M. No .: 042454 UDIN : 26042454MTQGSW9169 Mumbai : July 24 , 2026 . LLP IN : AAH 3437 REGISTERED OFFICE : ESPLANADE HOUSE , 29 , HAZARIMAL SOMANI MARG , FORT , MUMBAI 400 001 TEL .: ( 91 ) ( 22 ) 6158 6200 , 6158 7200 FAX ( 91 ) ( 22 ) 6158 6275