SWIGGY Q2 CONCALL: 18–20% FOOD DELIVERY GROWTH GUIDANCE, INSTAMART DOUBLE-DIGIT Q3 GROWTH & 5% EBITDA MARGIN TARGET

• CORE FOOD DELIVERY GROWTH GUIDANCE MAINTAINED AT 18–20% YOY • FOOD DELIVERY EBITDA MARGIN TARGET MAINTAINED AT 5% OF GOV • FOOD DELIVERY TAKE RATE CROSSED 26%, WITH EBITDA IMPROVING APPROXIMATELY ₹50 CR QOQ • INSTAMART TARGETING DOUBLE-DIGIT QOQ GROWTH IN Q3 FY27 • INSTAMART EBITDA MARGIN GUIDED TO IMPROVE APPROXIMATELY 100 BPS QOQ IN Q3 • INSTAMART CONTRIBUTION MARGIN OUTLOOK DISCUSSED IN 0% TO −1% RANGE • INSTAMART ADDED 13 LAKH MONTHLY TRANSACTING USERS; ORDER FREQUENCY UP 4% • INSTAMART ORDERS PER STORE REACHED APPROXIMATELY 1,200 DAILY, UP 9.5% QOQ • INSTAMART INVENTORY MODEL TRANSITION EXPECTED TO BEGIN MID-Q3, WITH COMPLETION OVER FOLLOWING 2–3 QUARTERS • NO MAJOR NEAR-TERM GEOGRAPHICAL EXPANSION PLANNED BEYOND EXISTING 130+ CITIES • TOING COULD LIFT OVERALL FOOD MARKETPLACE GROWTH POTENTIAL TO 25–30% • APPROXIMATELY TWO-THIRDS OF TOING USERS ARE NEW TO SWIGGY'S PLATFORM • MANAGEMENT TO EVALUATE TOING'S FURTHER SCALE-UP OVER NEXT 1–2 QUARTERS • HIGHER STORE PRODUCTIVITY, ADVERTISING MONETIZATION & CUSTOMER RETENTION EXPECTED TO SUPPORT INSTAMART PROFITABILITY • INTENSE QUICK-COMMERCE COMPETITION, INSTAMART LOSSES & TOING INVESTMENT REQUIREMENTS REMAIN KEY RISKS

SWIGGY LIMITED

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