Earnings Presentation on the Unaudited (Standalone & Consolidated) financial results for the quarter ended June 30, 2026

~ SHADOWFAX Think ahead! July 31, 2026 National Stock Exchange of India Ltd BSE Limited Exchange Plaza, C/1, Block G, P J Towers, Bandra Kurla Complex, Dalal Street, Bandra (East) Mumbai – 400 051 Mumbai – 400 001 NSE Symbol: SHADOWFAX BSE Scrip Code: 544685 Dear Sir/ Madam, Sub: Earnings Presentation Pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), please find enclosed the Earnings Presentation on the Unaudited (standalone and consolidated) Financial results for the quarter ended June 30, 2026. The above information is also being made available on the website of the Company at https://www.shadowfax.in/investor-relations Kindly take the above information on record. For Shadowfax Technologies Limited Name: Krishnakanth Venkata Gangavarapu Designation: Company Secretary & Compliance Officer Membership No. A17291 Encl.: As Above Shadowfax Technologies Limited (formerly known as Shadowfax Technologies Private Limited) CIN - U72300KA2015PLC150324 Regd. Off: 3rd Floor, Shilpitha Tech Park, Sy No. 55/3 & 55/4, Outer Ring Road, Devarabisanahalli Village, Bellandur, Varthur Hobli, Bangalore -560103, Karnataka, India Website: www.shadowfax.in/ Tel: 080-64525653/ Email: cs@shadowfax.in Q1 FY27 SHADOWFAX TECHNOLOGIES Fast. Flexible. Future-Ready. 31st July 2026 Q1FV271Shadowfax Safe Harbour Statement ~ SHADOWFAX Think ahead! 0 This presentation contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These statements are based on current expectations, assumptions, estimates, and projections, and are not guarantees of future performance. Factors that may cause differences include, but are not limited to, market conditions, operational challenges, competitive dynamics, regulatory changes, and macroeconomic factors. Shadowfax undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances. This presentation is for investor information purposes only. TITLE CAN NOT GO ABOVE THIS ~ SHADOWFAX LINE Think ahead! SUBTITLE BELOW THIS LINE CONTENT BELOW THIS LINE “We are a New Age, Technology-led Third-Party Logistics Company, Enabling Digital Commerce Penetration in India” Fast. Flexible. Future-Ready. CONTENT BELOW THIS LINE NOTES START FROM HERE AND GROW UP Q1FV271Shadowfax TITLE CAN NOT GO ABOVE THIS ~ SHADOWFAX LINE Our Operating Network | Expansive Footprint with Asset-Right Strategy Think ahead! SUBTITLE BELOW THIS LINE Horizontal CONTENT BELOW THIS LINE E-Commerce Extensive Mesh 5,095 16,372 53L+ SFT 3,500+ •• Network Non-Horizontal Touch Pin Code Operations Trucks on E-Commerce Points Reach Space Daily Basis Quick Commerce Food Marketplace On Demand Mobility Mid Mile Last Mile Network Network Online Retail 2.9L+ 24L+ SFT Average Quarterly D2C Brands Middle Mile Unique Transacting Operations space Delivery Partners CONTENT BELOW THIS LINE We employ 5,900+ Permanent Employees along with 20,600 Employees on a Contractual basis NOTES START FROM HERE AND GROW UP Q1FV271Shadowfax TITLE CAN NOT GO ABOVE LT IH NI ES Market Share Expansion | India’s Fastest Growing Third-Party Logistics Company ~ SHADOWFAX Think ahead! SUBTITLE BELOW THIS LINE Continued Market Share Gains for Last 4 Years Market Leadership across… CONTENT BELOW THIS LINE # Express orders per day re-based to 100 as of FY22(1,2) ~ 8% Consistently Gained Market Share 28%-30% 3PL Quick Commerce Solutions 319 Reverse Pick Up 122 134 138 FY22 FY23 FY24 FY25 FY26 Q1 FY27 Same Day Delivery Shadowfax Market Share % Shadowfax 3PL Express Market CONTENT BELOW THIS LINE Source: Market share till FY25 -based on Redseerreport . Market share for FY26 and Q1 FY27-as per Company Estimate Notes: 1. E-commerce shipments include the total volume of shipments including delivered plus RTO (single parcel count for forward and return legs of RTO) plus reverse pick-up shipments 2. Express Shipments of the Company includes comparable metrics as the 3PL e-commerce shipments 5 5 NOTES START FROM HERE AND GROW UP Q1FV271Shadowfax TITLE CAN NOT GO ABOVE LT IH NI ES Service Portfolio | Market Leadership in Value Added Services ~ SHADOWFAX Think ahead! SUBTITLE BELOW THIS LINE Express -------------------------------------------------,,, ., ., ' CONTENT BELOW THIS LINE ,, "" 0 ' ' I Forward Reverse Pickup and Prime I Others I I Hyperlocal I Express Parcel Hand in Hand Exchange Delivery I Logistics Services Forward express parcel Seamless and efficient Quick commerce, food Same day intracity > delivery to suit the product returns and and on-demand Critical logistics and next day intercity requirements of e- hand-in-hand deliveries, and mobility delivery Overview commerce clients exchanges solutions Strategic insourcing of unbundled services Market share at Largest 3PL company Only 3PL of national Largest 3PL company 28%-30%1 in Q1 FY27; for reverse scale offering same for quick commerce Scale and Fastest growing player pickup shipments day delivery deliveries Leadership(1) Dark store operations CONTENT BELOW THIS LINE Note: 1. Market share for Q1 FY27 -as per Company Estimates. 6 6 NOTES START FROM HERE AND GROW UP QlFY27IShadowfax Executive Summary ~ SHADOWFAX Quarterly Repeating FY26 High Growth Pace With Improving Margins Think ahead! Highlights Broad-Based Volume Growth Across Services • Delivered 24.7 Cr customer orders across Express & Hyperlocal • 9% sequential order growth over Q4 FY26 • 19.8 Cr Express orders delivered in the quarter with 95% YoY growth • 4.9 Cr Hyperlocal orders with a healthy ~16% QoQ growth Five Consecutive Quarters of 60%+ YoY Revenue Growth • 1,358 Cr revenue in Q1 FY27, 65% YoY growth matching FY26 growth pace • 997 Cr revenue in Express, 87% YoY growth with exceptional demand growth and market share gains • 272 Cr revenue in Hyperlocal in Q1 FY27, 53% YoY growth Sustainable Margin Expansion Driven by Operating Leverage • 67 Cr of Adj. EBITDA in Q1 FY27; 181% YoY growth • 4.9% Adj. EBITDA margin in Q1 FY27; 200 bps+ YoY improvement • 65 Cr PAT with 4.8% margin, 380 bps+ margin improvement YoY Q1FV271Shadowfax Q1 Update | Setting Up For Another High-Growth Year After a Landmark FY26 ~ SHADOWFAX Think ahead! Revenue Scale Express Hyperlocal 1,358 24.7 997 272 INR Cr Cr INR Cr INR Cr From Operations Total Orders Revenue Revenue 1' 64.9% vs Q1 FY26 1' 83.3% vs Q1 FY26 1' 87.3% vs Q1 FY26 53.0% vs Q1 FY26 1' 9.8% vs Q4 FY26 1' 9.2% vs Q4 FY26 1' 7.9% vs Q4 FY26 1' 17.0% vs Q4 FY26 Ind AS EBITDA Adjusted EBITDA Net Profit Ecosystem 92 6.8% 67 4.9 65 4.8 2.9L Active Delivery Partners INR Cr Margin INR Cr Margin INR Cr Margin 1' 370 bps vs Q1 FY26 1' 204 bps vs Q1 FY26 384 bps vs Q1 FY26 56.9% vs Q1 FY26 1' 21 bps vs Q4 FY26 1' 23 bps vs Q4 FY26 31 bps vs Q4 FY26 13.8% vs Q4 FY26 Q1FV271Shadowfax Key Performance Indicators | Gearing Up for a Strong October 2026 Festive Season ~ SHADOWFAX Think ahead! METRIC UNIT Q1 FY27 Q1FY26 YOY % Q4 FY26 QOQ % Pin code reach 15,656 16,372 14,357 Express Orders Cr 19.8 10.2 94.9% 18.4 7.6% 14% YoY 5% QoQ Q1FY26 Q4FY26 Q1FY27 Hyperlocal Orders Cr 4.9 3.3 47.4% 4.2 16.1% Total Orders Cr 24.7 13.5 83.3% 22.6 9.2% No. of Touchpoints 4,778 5,095 3,723 37% YoY Express Revenue Cr 997 532 87.3% 925 7.9% 7% QoQ Q1FY26 Q4FY26 Q1FY27 Hyperlocal Revenue Cr 272 178 53.0% 232 17.0% Delivery Other Logistics Rev. Cr 89 114 -21.5% 80 10.9% Partners1 2.6 2.9 (in Lakhs) 57% YoY Revenue from Ops. Cr 1,358 824 64.9% 1,237 9.8% 14% QoQ Q1FY26 Q4FY26 Q1FY27 PAT Cr 65 8 715.9% 56 17.1% Mid-Mile Footprint Adj. EBITDA Cr 67 24 181.1% 58 15.2% 19 22 24 (in L SFT) 29% YoY Adj. EBITDA Margin % 4.9% 2.9% -- 4.7% -- 10% QoQ Q1FY26 Q4FY26 Q1FY27 Notes: 9 1. Average quarterly unique transactingdeliverypartners Q1FV271Shadowfax Revenue Performance | 65% YoY Revenue Growth driven by Robust Order Volumes ~ SHADOWFAX Think [Showing first 8,000 characters — download PDF for full document]