Shareholders'' Letter for Q1 FY 2026-27 dated July 30, 2026

REF: SWIGGY/SE/2026-27/38 Date: July 30, 2026 The Deputy Manager The Manager Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block PJ Towers, Dalal Street Bandra-Kurla Complex, Bandra (E), Mumbai -400001 Mumbai 400051 Scrip Code: 544285 Symbol: SWIGGY Dear Sir/ Madam, Sub: Shareholders’ Letter dated July 30, 2026. We are pleased to enclose the Shareholders' Letter for Q1 2026-27 dated July 30, 2026. The above information will also be hosted on the website of the Company i.e., https://www.swiggy.com/corporate/ We request you to kindly take the same on record. Yours faithfully, For and on behalf of Swiggy Limited Cauveri Sriram Company Secretary & Compliance Officer SWIGGY LIMITED CIN: L74110KA2013PLC096530 | www.swiggy.com | support@swiggy.in | T: 080-68422422 Registered & Corporate Office: Sumadhura Capitol Towers, 3rd- 6th Floor – Tower 1, Sy. No. 14 & 158, Pattanduru Agrahara, K R Puram Hobli, Bengaluru East Taluk, Bengaluru, Karnataka – 560066 MISSION “Elevate the quality of life of urban consumers by offering unparalleled convenience” From the CEO’s desk Dear Shareholders, It is my pleasure to present to you our Q1 FY27 Shareholders’ letter. Roughly a year ago, we had committed to achieving Contribution margin break-even in Quick Commerce by Q1FY27. Today, I am very happy to share that we have met this milestone. In a period where quick commerce competition has only intensified, we prioritized improving unit economics over fleeting headline growth. Our efforts over the last few quarters to reset our user base, economics and experience have together made the business much stronger and increased the staying power. This milestone marks a pivotal transition, as growth increasingly serves as a driver for profitability rather than a compromise against it. Quick commerce hit break-even Contribution target in May '26 with an overall Contribution for the quarter at -0.2% of GOV, a 440 bps year-on-year improvement while Adjusted EBITDA losses narrowed to INR 778 Cr (sequential improvement of INR 80 Cr). Our GOV grew 39.8% YoY to INR 7,907 Cr, and increasing per-order monetization saw Adjusted Revenue per order (RPO) rise to INR 108 (sequential improvement of INR 11). We expanded our network to 1,171 darkstores across 131 cities, and plan to further densify this footprint. As the base expectations in quick commerce become more commoditized, we strongly believe our differentiated assortment strategy will be the engine for our next growth phase. In line with our strategy, we have partnered with 400+ brands to curate higher-quality, value-forward alternatives across core daily-use categories at compelling price points. We have successfully completed the first phase of this initiative by launching such “Switch to Better” selection across 50 key product categories which now contribute to more than 15% of the category sales in a very short time. Noice, our clean-food private brand, continues to grow very strongly with a very warm response from our consumers. Our objective for the coming quarters is to scale this overall differentiated proposition across more categories and occasions, partnering with brands that view Instamart as a premier launchpad. We are confident that doubling down here is the most effective path to winning consumer loyalty and driving faster organic growth. This quarter, our Food delivery GOV grew 17.4% YoY. Normalized for restaurant driven cancellations we saw due to the LPG supplies, this would have been ~18% YoY. Our user growth witnessed healthy momentum with MTUs growing 17.8% YoY to 19.2 Mn, while Adjusted EBITDA margins stood at 3.1% of GOV, reflecting a robust bottom line of INR 292 Cr as we continue to benefit from operating leverage. Page 2 of 25 For context, Q1 is seasonally a softer quarter given the monsoon impact and our annual salary increments fall in this period. Among all the levers that power food delivery: price, selection, convenience, we continue to believe affordability will be the biggest lever to unlock the next 100 million users, and we have been relentless in pursuing that goal. Toing (our standalone app for affordable meals) is now available in 50 cities and runs on a separate app so that we can test this affordability model. Given our restaurant/delivery infrastructure has already been built out here, we can run this business at a fraction of the cost (versus new insurgents) while retaining our right to win with budget-conscious users. The early indicators of incremental category growth and economies of scale for restaurants have been very positive. Our Out-of-Home Consumption segment maintained its steady profitability trajectory in Q1. The Dineout platform now supports 59k average monthly active restaurant partners, with GOV growing 44.8% YoY to INR 1,529 Cr. With Adjusted EBITDA margins expanding to 0.9%, this business remains a sustainable profitable pillar of our ecosystem. At the heart of our ESG agenda is the belief that growth must be inclusive. We are deepening our commitment to our delivery fleet through initiatives like #SwigStree, which empowers women partners with financial literacy and specialized gear, supporting our goal of 100,000 women partners by 2030. We also launched a digital mutual fund program, enabling partners to invest for their future with ease. Furthermore, we are collaborating with civic bodies on projects like “Varanasi ka Swaad” to support local culinary entrepreneurs. Through these efforts, we ensure that Swiggy’s success translates into meaningful, enduring opportunities for the diverse communities we serve. Regards Sriharsha Majety Co-founder, MD & Group CEO, Swiggy Ltd www.swiggy.com/corporate/ Page 3 of 25 Key metrics 1) B2C GOV defined as Consolidated Gross Order Value of completed orders for consumer facing businesses i.e. (i) Food delivery, plus (ii) Quick Commerce, plus (iii) Out-of-home Consumption, excluding Platform Innovations 2) B2C Adjusted Revenue defined as Consolidated Adjusted Revenue of consumer facing businesses i.e. (i) Food delivery, plus (ii) Quick Commerce, plus (iii) Out-of-home Consumption, excluding Platform Innovations 3) Adjusted EBITDA defined as Consolidated EBITDA excluding (i) other income (ii) exceptional items (iii) share in net loss of an associate (iv) share based payment expense and (v) rental expenses pertaining to 'Ind AS 116 leases Highlights of the quarter ● Swiggy Platform ○ Platform Average Monthly Transacting Users (MTU) grew 27.4% YoY to 27.5 Mn (+9.2% QoQ) ○ Consolidated Adjusted Revenue grew 34.0% YoY to INR 7,112 Cr (+6.7% QoQ) ○ B2C Adjusted EBITDA Margin (% of B2C GOV) improved by 223bps YoY to -2.5% (+55bps QoQ) ○ Consolidated Adjusted EBITDA improved by INR 162 Cr YoY, to a loss of INR 651 Cr ● Food delivery ○ GOV grew 17.4% YoY to INR 9,490 Cr ○ Added 0.9 Mn Monthly Transacting Users during quarter to reach 19.2 Mn (+18% YoY) ○ Adjusted EBITDA improved by INR 100 Cr YoY to INR 292 Cr ( -INR 5 Cr QoQ), Adjusted EBITDA Margin stood at 3.1% of GOV (+70bps YoY, -22bps QoQ) ● Quick commerce ○ GOV grew 39.8% YoY to INR 7,907 Cr, NOV growth was at 38.9% to INR 5,817 Cr (sequential growth at 3%) ○ Total darkstore area increased to more than 4.9 Mn sq ft (+14.6% YoY), net addition of 28 darkstores to reach 1,171 stores across 131 cities ○ nAOV grew 12.1% YoY to INR 508 (from INR 453), led by sustained non-grocery selection mix and larger-basket buying behaviour across user cohorts ○ Contribution margin improved by 165bps QoQ (+440bps YoY) to -0.2%. ○ Adjusted EBITDA margin improved by 105bps QoQ to -9.8%, losses reduced by INR 80 Cr QoQ to INR 778 Cr ● Out of Home Consumption ○ GOV grew 44.8.% YoY and 22.8% QoQ to INR 1,529 Cr. Restaurant additions stood at a multi quarter high to reach 59k (+12.9% QoQ) ○ Adjusted EBITDA margin improved to 0.9% of GOV (highest ever) Page 4 of 25 Swiggy Platform Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 B2C Gross Order Value (INR Cr) 14, [Showing first 8,000 characters — download PDF for full document]