CARTRADE TECH Q2 CONCALL: MANAGEMENT EXPECTS RECORD Q3 REVENUE, ~20% SEQUENTIAL EBITDA GROWTH, OLX GROWTH ABOVE 30–35% & LONG-TERM EBITDA MARGIN TARGET OF 40%

• MANAGEMENT EXPECTS Q3 FY27 TO DELIVER ANOTHER RECORD REVENUE QUARTER, SUPPORTED BY STRONG OLX MONETIZATION, FESTIVE AUTOMOTIVE DEMAND & IMPROVING VEHICLE REMARKETING PERFORMANCE • MANAGEMENT EXPECTS Q3 EBITDA TO GROW SEQUENTIALLY AT A PACE SIMILAR TO Q2'S APPROXIMATELY 20% INCREASE, DRIVEN BY OPERATING LEVERAGE & HIGHER PLATFORM MONETIZATION • MANAGEMENT EXPECTS OLX REVENUE GROWTH TO EXCEED 30–35% IN COMING QUARTERS, SUPPORTED BY INCREASING PAYING CUSTOMERS, NEW PREMIUM PRODUCTS & BUYER-SIDE MONETIZATION • MANAGEMENT ASPIRES TO EXPAND CONSOLIDATED EBITDA MARGIN TOWARD 40% OVER THE LONG TERM, SUPPORTED BY SCALABLE DIGITAL PLATFORMS & OPERATING EFFICIENCIES • MANAGEMENT TARGETS ₹1,000 CR PROFIT OVER THE NEXT 4–5 YEARS AS A LONG-TERM ASPIRATION, SUPPORTED BY OLX EXPANSION, AUTOMOTIVE PLATFORMS & NEW COMMERCE OPPORTUNITIES • MANAGEMENT EXPECTS CONSUMER GROUP TO ACHIEVE RECORD ABSOLUTE REVENUE IN Q3 FY27, BENEFITING FROM FESTIVE DEMAND & AUTOMOTIVE ADVERTISING ACTIVITY • MANAGEMENT PLANS INITIAL ROLLOUT OF VAYA LIVE AI-POWERED AUTOMOTIVE PRODUCTS DURING Q3 FY27, TARGETING BOTH BUSINESS CUSTOMERS & CONSUMERS • Q2 REVENUE FROM OPERATIONS GREW 10% YOY TO A RECORD ₹213 CR, WHILE TOTAL INCOME REACHED ₹236 CR • Q2 EBITDA SURGED 20% YOY & QOQ TO ₹76 CR, WHILE EBITDA MARGIN EXPANDED TO 36% FROM 31% YOY & 33% IN Q1 FY27 • Q2 PAT INCREASED 3% YOY TO ₹65.95 CR, WHILE PROFIT BEFORE TAX REACHED A RECORD ₹85.45 CR, WITH PAT GROWTH AFFECTED BY PRIOR-YEAR ONE-OFF BENEFITS • MANAGEMENT-REPORTED ADJUSTED EBITDA EXCEEDED ₹106 CR, REFLECTING STRONG UNDERLYING OPERATING PROFITABILITY & CASH GENERATION POTENTIAL • OLX INDIA REVENUE GREW 26% YOY IN Q2 & 28% IN H1 FY27, WHILE EBITDA INCREASED 36% YOY WITH A 32% EBITDA MARGIN • OLX'S ELITE BUYER & ELITE SELLER PRODUCTS ARE EXPECTED TO CREATE ADDITIONAL MONETIZATION OPPORTUNITIES, WITH BUYER-SIDE REVENUE REPRESENTING A SIGNIFICANT UNTAPPED MARKET • MANAGEMENT HIGHLIGHTED THAT OLX HAS APPROXIMATELY 6X MORE BUYERS THAN SELLERS, PROVIDING SUBSTANTIAL LONG-TERM POTENTIAL FOR BUYER-SIDE MONETIZATION • CONSUMER GROUP REVENUE GREW 4% YOY, WHILE EBITDA MARGIN REACHED 41% & PAT INCREASED 13%, DESPITE A HIGH PRIOR-YEAR BASE • MANAGEMENT HIGHLIGHTED APPROXIMATELY 20% TWO-YEAR REVENUE CAGR IN THE NEW-AUTO BUSINESS, WITH OEM CUSTOMERS CONTRIBUTING AROUND 74% OF CONSUMER GROUP REVENUE • SHRIRAM AUTOMALL REMARKETING REVENUE GREW 12% YOY, WHILE EBITDA INCREASED 29% & PAT SURGED 47%, SUPPORTED BY HIGHER-MARGIN RETAIL VEHICLE AUCTIONS • REMARKETING BUSINESS OPERATES ACROSS APPROXIMATELY 500 PHYSICAL LOCATIONS, HANDLING AN ANNUALIZED VOLUME OF AROUND 1.6 MILLION VEHICLE LISTINGS • VAYA LIVE WILL INTRODUCE AI-POWERED VEHICLE COMPARISONS, VALUATIONS, CONDITION ASSESSMENTS & CUSTOMER TARGETING, LEVERAGING CARTRADE'S PROPRIETARY AUTOMOTIVE DATA • MANAGEMENT DOES NOT EXPECT MATERIAL ADDITIONAL TECHNOLOGY EXPENSES FROM THE INITIAL VAYA LIVE ROLLOUT, ALTHOUGH COMMERCIAL MONETIZATION REMAINS UNPROVEN • COMPANY IS EXPANDING OLX BEYOND CLASSIFIED ADVERTISING INTO TRANSACTION-BASED COMMERCE THROUGH ESCROW PAYMENTS, LOGISTICS, FINANCING INTEGRATIONS & CURATED USED-CAR SALES • LANDMARK PARTNERSHIP AIMS TO SUPPORT CURATED USED-CAR TRANSACTIONS, WITH CARTRADE HANDLING TECHNOLOGY & CUSTOMER ACQUISITION WHILE THE DEALER PARTNER MANAGES PHYSICAL OPERATIONS • CARTRADE'S PLATFORMS REACHED APPROXIMATELY 76 MILLION MONTHLY ACTIVE USERS, WITH 96% OF TRAFFIC GENERATED ORGANICALLY • MONTHLY UNIQUE TRAFFIC OF APPROXIMATELY 43 MILLION DECLINED 18% YOY & 9% QOQ, ALTHOUGH MANAGEMENT INDICATED MONETIZABLE LEADS & CONVERSION INDICATORS REMAINED STABLE • CASH & LIQUID BALANCES EXCEEDED ₹1,400 CR AS OF SEPTEMBER 2026, PROVIDING SIGNIFICANT FINANCIAL FLEXIBILITY FOR ACQUISITIONS & FUTURE GROWTH INITIATIVES • MANAGEMENT INDICATED TAX-BENEFIT-RELATED RESTRICTIONS CURRENTLY LIMIT DIVIDENDS & BUYBACKS, POTENTIALLY FOR ANOTHER 1–2 YEARS • MANAGEMENT REMAINS STRONGLY POSITIVE ON OLX GROWTH, EBITDA MARGIN EXPANSION, RECORD Q3 PERFORMANCE & AI-LED MONETIZATION, BUT CONSUMER TRAFFIC SLOWDOWN, NEW PRODUCT EXECUTION & TRANSACTION ECONOMICS REMAIN KEY RISKS KEY MONITORABLE: Q3 RECORD REVENUE DELIVERY, APPROXIMATELY 20% SEQUENTIAL EBITDA GROWTH, OLX REVENUE GROWTH ABOVE 30%, CONSUMER GROUP RECOVERY & PROGRESS TOWARD THE LONG-TERM 40% EBITDA MARGIN ASPIRATION.

CARTRADE TECH LIMITED

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