SWIGGY Q2: TOING COULD BOOST FOOD DELIVERY GROWTH TO 25–30%; EARLY UNIT ECONOMICS TURN POSITIVE

• Growth Potential: Management believes Toing could accelerate combined Swiggy + Toing Food Delivery growth to 25–30%, compared with core guidance of 18–20% • Strong Adoption: 2 out of 3 Toing users are either new to Swiggy or long-term dormant users, indicating incremental demand • Volume Growth: Toing volumes have already reached 20–30% of core Food Delivery volumes in select cities • Higher Frequency: Customers using both Swiggy and Toing show approximately 25% higher combined ordering frequency • Unit Economics: Repeat-user unit economics have turned positive in the earliest launched cities, indicating early signs of business sustainability • Investment Outlook: Customer acquisition remains the primary investment area; management expects near-term spending to remain range-bound • Cost Advantage: Toing operates on Swiggy's existing technology and execution infrastructure, with no significant additional fixed costs • Future Outlook: Management expects greater clarity on scalability, profitability and business sustainability over the next 1–2 quarters

SWIGGY LIMITED

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