Swiggy Limited

1. Pioneers of high-frequency hyperlocal commerce categories driven by an innovation-led culture.

2. A consistently growing network of users.

3. Rising user engagement on our platform.

4. Swiggy brand delivered through a unified app with consistent user experience.

5. A preferred choice for restaurant partners, merchant partners, brand partners and delivery partners.

6. Our platform has created strong network effects driven by our wide user and partner base.

7. An experienced professional management team and high standards of governance.

1. The company has incurred net losses in each year since incorporation and have negative cash flows from operations. If the company is unable to generate adequate revenue growth and manage its expenses and cash flows, the company may continue to incur significant losses.

2. If the company fails to retain its existing user base or fails to acquire new users in a cost-effective manner, its business, financial condition and results of operations could be adversely affected.

3. Attracting and retaining delivery partners is critical to its business, and failures to do so in a cost-effective way may have an adverse effect on its business, financial condition and results of operations.

4. If the company fails to retain its existing or acquire additional restaurant partners, merchant partners and brand partners in a cost-effective manner, its business, financial condition and results of operations could be adversely affected. Further, if partners on its platform try to pass on increased operating costs to users, users may decrease the frequency with which they interact on its platform and order volumes on the company platform may decline.

5. Managing its Dark Stores is critical to the company Quick Commerce business and failures to do so in a cost-effective way may have an adverse effect on its business, financial condition and results of operations.

6. Managing its warehouses is critical to the company Supply Chain and Distribution business and failures to do so in a cost-effective way may have an adverse effect on its business, financial condition and results of operations.

7. The company faces intense competition across the markets its serve and if the company is unable to compete effectively, its business, financial condition and results of operations would be adversely affected.

8. If the company restaurant partners and merchant partners fails to timely identify or effectively respond to changing user preferences and spending patterns or provide high-quality food and products, user engagement on its platform could be negatively affected, the demand for food and products provided on the company platform could decrease, and its revenue and results of operations may decline.

9. The uninterrupted functioning of its technology platform is essential to the company's business. Systems failures and resulting interruptions in the availability of its website, mobile application or platform could adversely affect its business, financial condition and results of operations.

10. Any actual or perceived cybersecurity, data or privacy breach could interrupt its operations and adversely affect the company reputation, brand, business, financial condition and results of operations.