FSN E-Commerce Ventures Limited

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mited Corporate Relationship Department, 2nd Floor, New Trading Wing, Rotunda Building, P.J. Towers, Dalal Street, Mumbai – 400 001 Symbol: NYKAA Dear Sirs, Scrip Code: 543384 Sub: Presentation

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11th ANNUAL GENERAL MEETING 18 September 2023 1 Nykaa’s journey over the years 30x Revenue Rs 5,144 Crs Rs 171 Crs FY17 FY18 FY19 FY20 FY21 FY22 FY23 Introduced Korean be

Rs 5,144

11th ANNUAL GENERAL MEETING 18 September 2023 1 Nykaa’s journey over the years 30x Revenue Rs 5,144 Crs Rs 171 Crs FY17 FY18 FY19 FY20 FY21 FY22 FY23 Introduced Korean beauty in India Launc

Rs 171

L GENERAL MEETING 18 September 2023 1 Nykaa’s journey over the years 30x Revenue Rs 5,144 Crs Rs 171 Crs FY17 FY18 FY19 FY20 FY21 FY22 FY23 Introduced Korean beauty in India Launched Kay Beau

51%

Acquired Twenty Dresses Hyperlocal personalized capabilities Initial Public Offering Acquired 51% stake in Dot & Key International Expansion 2 Nykaa – India’s preferred lifestyle retailer 2012

Rs 9,743

cus on Curation, Content, Convenience, and Trust to bring customer delight, every step of the way Rs 9,743 Crs GMV [41% YoY growth] 6,400+ brands across platforms Rs 5,144 Crs Revenue [36% YoY growth]

41%

tent, Convenience, and Trust to bring customer delight, every step of the way Rs 9,743 Crs GMV [41% YoY growth] 6,400+ brands across platforms Rs 5,144 Crs Revenue [36% YoY growth] 24 MM+ cumula

36%

e way Rs 9,743 Crs GMV [41% YoY growth] 6,400+ brands across platforms Rs 5,144 Crs Revenue [36% YoY growth] 24 MM+ cumulative customer base Rs 256 Crs EBITDA [57% YoY growth] [5.0% EBITDA Mar

Rs 256

brands across platforms Rs 5,144 Crs Revenue [36% YoY growth] 24 MM+ cumulative customer base Rs 256 Crs EBITDA [57% YoY growth] [5.0% EBITDA Margin] 145 BPC Physical Stores 1. All figures as of FY2

57%

orms Rs 5,144 Crs Revenue [36% YoY growth] 24 MM+ cumulative customer base Rs 256 Crs EBITDA [57% YoY growth] [5.0% EBITDA Margin] 145 BPC Physical Stores 1. All figures as of FY23 end 42 MM+ or

5.0%

s Revenue [36% YoY growth] 24 MM+ cumulative customer base Rs 256 Crs EBITDA [57% YoY growth] [5.0% EBITDA Margin] 145 BPC Physical Stores 1. All figures as of FY23 end 42 MM+ orders across platf

39%

ed brands in Fashion 3 4 Strong and steady growth in beauty & personal care GMV 3-year GMV CAGR 39% GMV YoY Growth 33% Rs 6,649 Crs 18 MM * Cumulative customer base 1/3rd of the Indian BPC onlin

“No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts in the Presentation, if any, are correct or that any objectives specified herein will be achieved.”

GDP per Capita

2

Notes

1

BPC per Capita

1

Fashion per Capita

1

Notes

1. Events refer to calendar year events First global store brand Acquired Twenty Dresses Hyperlocal personalized capabilities Initial Public Offering Acquired 51% stake in Dot & Key International Expansion 2 Nykaa – India’s preferred lifestyle retailer 2012 2018 2019 2021 We are one of India’s leading Beauty and Fashion Omnichannel player With a mission to help consumers step into the spotlight of their own lives, we focus on Curation, Content, Convenience, and Trust to bring customer delight, every step of the way Rs 9,743 Crs GMV [41% YoY growth] 6,400+ brands across platforms Rs 5,144 Crs Revenue [36% YoY growth] 24 MM+ cumulative customer base Rs 256 Crs EBITDA [57% YoY growth] [5.0% EBITDA Margin] 145 BPC Physical Stores 1. All figures as of FY23 end 42 MM+ orders across platforms 12 owned brands in BPC and 13 owned brands in Fashion 3 4 Strong and steady growth in beauty & personal care GMV 3-year GMV CAGR 39% GMV YoY Growth 33% Rs 6,649 Crs 18 MM * Cumulative customer base 1/3rd

GDP per Capita

$2500 $5500 2022 to 2030 India’s position on the S curve by 2030; GDP per capita $5,500; BPC per capita: $45-50 Nykaa BPC is currently at $80 *per customer 42 Beauty & Personal Care: One of the fastest growing markets with changing landscape Skin Care Cosmetics Fragrances Baby Care India BPC Others Deodrants Men's Shaving Hair Care Oral Care CAGR % 2020-35E 20.2% 16.3% 15.4% 15.2% 12.4% 10.9% 10.5% 9.8% 7.6% 7.5% Bath and Shower 6.0% Consumer preference and demand shifting from personal care to beauty Overall BPC Market size of USD 30 BN+ in 2027 Online BPC will continue to take market share from offline Premium growing at 2.5x of Mass Source: Redseer & Euromonitor HSBC 43 India Fashion Market: Potential size and its growth drivers CAGR % 14% USD 147 Bn** USD 49 Bn, 33% USD 51 Bn, 34% STORE USD 47 Bn, 32% USD 77 Bn** USD 15 Bn, 19% USD 28 Bn, 36% USD 34 Bn, 44% Nykaa Fashion is part of the fastest growing online segment, i.e., the premium fashion market Online Premium Fashion Market in

GDP per Capita

$2500 $5500 2022 to 2030 ) D S U ( a t i p a C r e p i n o h s a F 1200 1000 800 600 400 200 0 1500 India’s position on the curve by 2030; GDP per capita $5,500; Fashion per capita: $160 United States Germany Denmark United Arab Emirates Canada Australia Sweden Qatar Portugal Kuwait Spain Greece Poland Nykaa Fashion is currently at $130 Russia Brazil Turkey China Oman Argentina Egypt Colombia Mexico Bangladesh India 3000 6000 12000 24000 48000 96000 GDP per Capita (USD) – Log Scale 45 Shaping the Digital Landscape: The Surge of India's Internet Economy India’s Internet economy rapid growth Ecommerce size in India (USD Bn) 2010 $8-10B $50-60B 2022 $155-175B $320-350B Internet economy’s share of GDP 0.5% 4-5% 2030 $900-1000B $1450-1550B 12-13% 5-6x 350-380 $900- 1000B Ecommerce (B2B & B2C) will account for 50% of Internet economy 13-14x 105-120 Internet economy Technology sector 60-65 B2C e-commerce 8-9 B2B e-commerce Internet economy is set to become a $1 trillion market B2C e-commerce