SPENCERS

Earnings Presentation – Q2 FY22 Nov-21 | RP-SanjivGoenka Group Presentation 1 Key Consolidated performance highlights • Improvement in Profitability by ₹ 16 crore (Q2 FY22 vs Q2 FY21) with lower sales by 6% • Gross margin % at 21.1% Q2 FY22 vs 20.4% Q2 FY21 driven by improvement in Non-Food category mix (i.e. General Merchandise & Apparel) • Natures Basket continues to be EBITDA positive on QoQ basis • 1.7x YoY Growth in OMNI Channel business during the quarter • Improvement in EBITDA Margins % by 354 bps from 0.9% to 4.4% (Q2FY21 vs Q2FY22) by improvement in sales mix and cost controls Nov-21 | RP-SanjivGoenka Group Presentation 2 Consolidated Financial Parameters FY22 Quarter Quarter Revenue from Operation (₹ Cr) 582 552 Q1FY22 Q2FY22 Trading Area (Mn Sq ft) Gross Margin (%) 1.46 1.47 21.1% 20.5% Q1FY22 Q2FY22 Q1FY22 Q2FY22 Annualised Gross Sales per sqft Nov-21 | RP-SanjivGoenka Group Presentation 3 G r o 1 s 4 Q s S 6 0 0 1 F Y a 2 l 2 e s p e r Q S 1 2 q f t 5 6 0 0 F Y 2 2 ( ₹ ) Consolidated Financial Parameters FY22 H1 H1 Annualised Gross Sales per sqft Nov-21 | RP-SanjivGoenka Group Presentation 4 R e v e n u e H f r o 1 ,1 6 1 F Y m 4 2 1 O p e r H a 1 t F i Y o 1 2 n ,1 2 ( 3 4 ₹ C r ) Gross Margin (%) 20.8% 20.4% H1 FY21 H1 FY22 G r o 1 s 5 H s 9 1 S 0 0 F Y a 2 l 1 e s p e r H S q 1 5 1 F f 1 0 Y 2 t 0 2 ( ₹ ) Trading Area (Mn Sq ft) 1.47 1.40 H1 FY21 H1 FY22 Spencer’s Business Highlights Celebrating Consumer Events Moving towards OMNI Channel Nov-21 | RP-SanjivGoenka Group Presentation 5 Natures Basket Business Highlights Strengthening our Health Positioning Superior Convenience to customers • Strengthening Health positioning of Stores • Delivery of Fresh & Fast service in 90 mins • Convenience for both Online & Home Delivery • Offerings to communicate & strengthen our product portfolio customers Nov-21 | RP-SanjivGoenka Group Presentation 6 ₹48cr Improvement in PBT vs H1FY21 period ended Growth 6 months ended Consolidated (₹ Cr) 30-Sep-21 30-Jun-21 30-Sep-20 Y-o-Y Q-o-Q 30-Sep-21 30-Sep-20 582 552 617 -6% 5% Revenue from operations 1,134 1,164 Expenses: 459 4 39 491 Cost of Goods Sold 898 926 Continued cost 123 113 126 -2% 9% Gross Margin 236 238 21.1% 20.5% 20.4% 77 bps 64 bps Gross Margin % 20.8% 20.4% initiatives 4 6 47 4 7 -3% -2% Employee expenses 93 95 6 4 59 8 1 -20% 8% Other expenses 124 156 1 3 23 8 66% -44% Other income 36 15 26 30 5 EBITDA 55 2 4.4% 5.4% 0.9% 354 bps -98 bps EBITDA % 4.9% 0.2% 3 0 32 3 1 Depreciation 62 62 Improvement in 2 4 22 2 0 Finance costs 46 40 (29) (24) (45) PBT (52) (100) business mix and -4.9% -4.3% -7.3% 237 bps -66 bps PBT % -4.6% -8.6% margins ( 0.1) (0.1) ( 0.1) Tax Expenses (0.3) (0.1) (29) (24) (45) PAT (52) (100) ( 0.2) (0.2) ( 0.3) Other Comprehensive Income (0.3) (0.6) (29) (24) (45) Total Comprehensive Income (53) (100) Nov-21 | RP-SanjivGoenka Group Presentation 7 ₹ 44cr improvement in PBT vs H1FY21 3 months ended Growth 6 months ended SRL Standalone (₹ Cr) 30-Sep-21 30-Jun-21 30-Sep-20 Y-o-Y Q-o-Q 30-Sep-21 30-Sep-20 1 2 - New Stores added 3 - 155 154 154 Total Store count 155 154 0.01 0.39 - TA added (Lac sq.ft) 0.40 - 1 3.69 13.69 13.12 TA exit (Lac sq.ft) 1 3.69 13.12 507 472 526 -4% 7% Revenue from operations 979 965 Continued and Sustained 407 382 424 -4% 6% Cost of Goods Sold 789 780 Cost initiatives of LY 100 90 101 -1% 11% Gross Margin 191 185 19.8% 19.1% 19.3% 49 bps 65 bps Gross Margin % 19.5% 19.2% 37 37 39 -5% -1% Employee expenses 74 78 52 51 67 -21% 3% Other expenses 103 126 8 21 6 33% -60% Other income 29 13 19 23 2 EBITDA 43 (6) 3.8% 5.0% 0.4% 344 bps -113 bps EBITDA % 4.4% -0.6% 23 23 24 Depreciation 46 47 Significant Improvement 19 17 14 Finance costs 36 29 (22) (17) (36) PBT (39) (83) of ₹ 44 crore in PBT levels -4.4% -3.6% -6.9% 249 bps -78 bps PBT % -4.0% -8.6% - - - Tax Expenses - - (22) (17) (36) PAT (39) (83) (0.2) (0.2) (0.4) Other Comprehensive Income (0.3) (0.7) (22) (17) (36) Total Comprehensive Income (39) (84) Nov-21 | RP-SanjivGoenka Group Presentation 8 Continues to be EBITDA positive 3 months ended Growth 6 months ended NBL Standalone (₹ Cr) 30-Sep-21 30-Jun-21 30-Sep-20 Y-o-Y Q-o-Q 30-Sep-21 30-Sep-20 35 33 3 1 Total Store count 35 31 1.03 0.93 0.84 TA exit (Lac sq.ft) 1.03 0.84 75 80 91 -18% -6% Revenue from operations 155 199 53 58 6 7 -21% -8% Cost of Goods Sold 110 146 Improvement in Gross 22 22 24 -7% -1% Gross Margin 45 52 29.7% 28.1% 26.5% 329 bps 164 bps Gross Margin % 28.9% 26.3% Margin % by 329 bps 7 7 7 0% 1% Employee expenses 14 14 driven by business mix 13 11 1 1 24% 22% Other expenses 24 23 4 2 1 199% 119% Other income 6 2 7 7 8 EBITDA 14 18 8.9% 8.6% 9.0% -7 bps 33 bps EBITDA % 8.8% 8.8% Profitability driven by 7 8 7 Depreciation 15 14 5 4 6 Finance costs 10 12 better higher margin and (6) (5) (5) PBT (11) (9) sustained cost controls -7.4% -6.7% -5.4% -201 bps -69 bps PBT % -7.0% -4.4% - - - Tax Expenses - - with lower sales (6) (5) (5) PAT (11) (9) 0.0 0.0 0 .1 Other Comprehensive Income 0.0 0.1 (lockdown restrictions) (6) (5) (5) Total Comprehensive Income (11) (9) Nov-21 | RP-SanjivGoenka Group Presentation 9 H 1 8 F 1 Y 2 1 H 1 1 F 9 Y 2 2 2 “ORIPL” Improved Profitability & 2.4x GMV growth 6 months 3 months ended Growth ORIPL Standalone (₹ Cr) ended 30-Sep-21 30-Jun-21 30-Sep-20 Y-o-Y Q-o-Q 30-Sep-21 30-Sep-20 74 118 44 1.7x 0.6x Gross Merchandise Value (GMV) 192 81 5.1 7.9 1.1 364.3% -35.1% Revenue from operations 13.0 2.1 Expenses: 2.4 3.1 1.8 32% -23% Employee expenses 5.5 3.5 3.5 5.4 3.5 1% -35% Other expenses 9.0 6.9 0.2 0.0 0.0 Other income 0.3 0.0 (0.6) (0.6) (4.2) -86.7% -9.6% EBITDA (1.2) (8.3) -11% -8% -381% EBITDA % -9% -397% 0.2 0.2 0.2 11% 1% Depreciation 0.5 0.4 0.2 0.4 - Finance costs 0.6 0.0 (1.0) (1.3) (4.4) -78% -23% PBT (2.2) (8.7) -19% -16% -400% PBT % -17% -417% - - - Tax Expenses - - GMV (₹ in Cr) (1.0) (1.3) (4.4) -78% -23% PAT (2.2) (8.7) (0.0) (0.0) 0.0 Other Comprehensive Income (0.0) 0.0 (1.0) (1.3) (4.4) -78% -23% Total Comprehensive Income (2.2) (8.7) • ORIPL is an E-commerce company 100% owned Subsidiary of Spencer’s Retail Limited. • OMNI Channel platform for Food, Grocery, Fresh, Apparel, General Merchandise and Liquor. Nov-21 | RP-SanjivGoenka Group Presentation 10 Thank You About Spencer’s Retail Limited: Spencer’s Retail Limited, part of RP-Sanjiv Goenka Group, is a multi-format retailer providing a wide range of quality products across categories such as FMCG, fashion, food, staples, general merchandise, personal care, home essentials, electrical and electronics to its consumers. specialty sections such as Spencer’s Gourmet, Patisserie, Wine & Liquor and Epicuisine section are some of the key differentiators in our hypermarket stores and in Natures Basket Limited L’exclusif, healthy alternatives and Natures. The first ever hypermarket in India was launched by Spencer’s in Hyderabad in 2000. Today, Spencer’s (including Natures Basket) runs 190 stores with a total 14.70 Lacs Square Feet in over 41 cities in India. Spencer’s brand positioning – MAKES FINE LIVING affordable– embodies its philosophy of delighting shoppers with the best products and services that enable a fine living at reasonable prices, while providing them with a warm, friendly and educational retail environment. Natures Basket Limited is a one shop destination for all multi cuisine cooking needs, healthy food including international food products. ORIPL is an E-commerce company 100% owned Subsidiary of Spencer’s Retail Limited. It is an OMNI Channel platform for Food, Grocery, Fresh, Apparel, General Merchandise and Liquor. Disclaimer: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Spencer’s Retail Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. Nov-21 | RP-SanjivGoenka Group Presentation 11 Spencer’s Retail Limited H1 FY22 – Highlights: Improvement in Profitability by ₹48 Crore (H1FY22 vs H1FY21) 2.4x GMV Growth in Omni Channel business (H1FY22 vs H1FY21) Q2 FY22 – Highlights: Improvement in Profitability by ₹16 Crore (Q2FY22 vs Q2FY21) 1.7x GMV Growth in Omni Channel business (Q2FY22 vs Q2FY21) Kolkata: Nov 12, 2021: Spencer’s Retail Ltd reported standalone turnover of ₹507 crore and Gross Margin of 19.8% for quarter ended Sep 30, 2021. Spencer’s operates with 155 Stores with a total trading area of 13.69 Lacs square feet as on Sep 30, 2021. Natures Basket Ltd reported standalone turnover of ₹75 crore and Gross Margin of 29.7% for the quarter ended Sep 30, 2021. Natures Basket operates with 35 stores with a total trading area of 1.03 Lacs square feet as on Sep 30, 2021. Natures Basket continues to be EBITDA positive on quarter on quarter basis. Unaudited Consolidated Financial Results for the quarter ended Sep 30, 2021:  Revenue for the quarter ₹ 582 Cr & Gross Margin ₹ 123 Cr at 21.1%  EBITDA ₹26 Cr  PBT (-) ₹29 Cr, reflecting 237 bps YoY recovery (from (-)7.3% Q2FY21 to (-)4.9% Q2FY22)  ORIPL our OMNI Channel Business witnessed 1.7x GMV growth & improved its profitability by 78%. Unaudited Consolidated Financial Results for 6 months ended Sep 30, 2021:  Revenue for the 6 months ended Sep 30, 21 ₹ 1134 Cr & Gross Margin ₹ 236 Cr at 20.8%  EBITDA ₹55 Cr  PBT (-) ₹52 Cr, reflecting 395 bps YoY recovery (from (-)8.6% Q2FY21 to (-)4.6% Q2FY22) ORIPL our OMNI Channel Business witnessed 2.4x GMV growth & improved its profitability by  74%. Mr. Shashwat Goenka, Sector Head, said, “The lockdown was eased in September quarter and our operational hours also improved as compared to previous quarter. Spencer’s standalone performance witnessed sales growth of 7% vs Q1 owing to improvement in sales of non-food category led by General Merchandise and Apparel. Mr. Goenka added, “We also continue to see a strong momentum in our OMNI Channel business for the second quarter with 1.7x growth over last year.” About Spencer’s Retail Limited: Spencer’s Retail Limited (www.spencersretail.com | NSE: Spencers | BSE: 542337), part of RP-Sanjiv Goenka Group, is a multi-format retailer providing a wide range of quality products across categories such as FMCG, fashion, food, staples, general merchandise, personal care, home essentials, electrical and electronics to its consumers specialty sections such as Spencer’s Gourmet, Patisserie, Wine & Liquor and Epicuisine section are some of the key differentiators in our hypermarket stores and in Natures Basket Limited L’exclusif, Healthy alternatives and Natures. The first ever hypermarket in India was launched by Spencer’s in Hyderabad in 2000. Today, Spencer’s runs 190 stores (including Natures Basket) with a total 14.7 Lacs Square Feet in over 41 cities in India. Spencer’s brand positioning – Makes Fine Living affordable – embodies its philosophy of delighting shoppers with the best products and services that enable a fine living at reasonable prices, while providing them with a warm, friendly and educational retail environment. Natures Basket Limited is a one shop destination for all multi cuisine cooking needs, healthy food including international food products. ORIPL is an E-commerce company 100% owned Subsidiary of Spencer’s Retail Limited. It is an OMNI Channel platform for Food, Grocery, Fresh, Apparel, General Merchandise and Liquor. Disclaimer: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Spencer’s Retail Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.