Future Retail Limited

rs,

neral Manager, Dept. of Corporate Services Listing Department SSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Listing Department The National Stock Exchange Limited of India Li

₹65

LE 1,511 Retail stores 16.1 mn sq.ft. Retail Space >US$ 3.1 bn FY19 Revenue (* Exchange rate $1=₹65) EFFICIENCY 26.7% Gross Margins 5.2% EBITDA 6.8% Overall 10.9% Big Bazaar SSSG DEPTH >350 m

26.7%

tores 16.1 mn sq.ft. Retail Space >US$ 3.1 bn FY19 Revenue (* Exchange rate $1=₹65) EFFICIENCY 26.7% Gross Margins 5.2% EBITDA 6.8% Overall 10.9% Big Bazaar SSSG DEPTH >350 mn Customer footfal

5.2%

Retail Space >US$ 3.1 bn FY19 Revenue (* Exchange rate $1=₹65) EFFICIENCY 26.7% Gross Margins 5.2% EBITDA 6.8% Overall 10.9% Big Bazaar SSSG DEPTH >350 mn Customer footfalls in FY19 428 Citie

6.8%

>US$ 3.1 bn FY19 Revenue (* Exchange rate $1=₹65) EFFICIENCY 26.7% Gross Margins 5.2% EBITDA 6.8% Overall 10.9% Big Bazaar SSSG DEPTH >350 mn Customer footfalls in FY19 428 Cities 29* States

10.9%

FY19 Revenue (* Exchange rate $1=₹65) EFFICIENCY 26.7% Gross Margins 5.2% EBITDA 6.8% Overall 10.9% Big Bazaar SSSG DEPTH >350 mn Customer footfalls in FY19 428 Cities 29* States VALUE CREATIO

18%

G DEPTH >350 mn Customer footfalls in FY19 428 Cities 29* States VALUE CREATION # (3 Year) ~18% Revenue Growth ~75% Growth in Operational Profit 99% Growth in Net Earnings * Including 4 Un

75%

tomer footfalls in FY19 428 Cities 29* States VALUE CREATION # (3 Year) ~18% Revenue Growth ~75% Growth in Operational Profit 99% Growth in Net Earnings * Including 4 Union Territories; # Ba

99%

29* States VALUE CREATION # (3 Year) ~18% Revenue Growth ~75% Growth in Operational Profit 99% Growth in Net Earnings * Including 4 Union Territories; # Based on FY2017 results FRL | Invest

11.0%

7 Large Format Overview: Getting ‘More out of the Same’ Same Store Sales Growth Gross Margins 11.0% 10.1% 9.4% 10.1% 13.6% Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 FY17 FY19 EBITDA Growth Reve

10.1%

rge Format Overview: Getting ‘More out of the Same’ Same Store Sales Growth Gross Margins 11.0% 10.1% 9.4% 10.1% 13.6% Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 FY17 FY19 EBITDA Growth Revenue Sha

9.4%

mat Overview: Getting ‘More out of the Same’ Same Store Sales Growth Gross Margins 11.0% 10.1% 9.4% 10.1% 13.6% Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 FY17 FY19 EBITDA Growth Revenue Share Sm

“The Company cannot guarantee that these assumptions and expectations are accurate or will be realized.”

Increase in Working Capital includes

1

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1

Increase in Working Capital includes

• Increase in inventory for new stores: ~ Rs 350 cr; Further some increase in inventory is due to slower fashion sales in Q4FY19 • Other current assets include balances with statutory authorities & GST input credit : ~Rs 450 cr • Additionally, there was a reduction in payables, as the company extended support to vendors in a tight liquidity environment FRL | Investor Presentation | May 2019 26 Consolidated Financial Statements P&L Statement Balance Sheet Particulars (₹ cr) Total income from Operations Gross Profit Gross Margin % Employee benefits expense Rent including lease rentals Other Expenditures Total expenditure Other Income EBITDA EBITDA% Depreciation and amortisation EBIT EBIT % Finance Costs PBT PBT% PAT PAT% Year ended 31-Mar-19 20,333 A) ASSETS Particulars (₹ cr) As at 31 Mar 2019 Non-Current Assets Inventories Trade Receivables Other Current Assets TOTAL ASSETS B) EQUITY AND LIABILIIES Equity Non-Current Liabilities Net Debt Trade Payables Other Current Liabilities 2,419 5

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RIGHT NEXT TO YOU This report contains forward-looking statements, which may be identified by their use of words like ‘plans’, ‘expects’, ‘will’, ‘anticipates’, ‘believes’, ‘intends’, ‘projects’, ‘estimates’, or other words of similar meaning. All statements that address expectations or projections about the future, including but not limited to statements about the Company’s strategy for growth, product development, market position, expenditures, and financial results are forward-looking statements. Forward-looking statements are based on certain assumptions and expectations of future events. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized. The Company’s actual results, performance or achievements could thus differ materially from those projected in any such forward looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent developments