Please find enclosed herewith the Transcript of Analyst / Investor Meet held on August 04, 2026.

FSN E-Commerce Ventures Limited August 07, 2026 National Stock Exchange of India Limited BSE Limited Symbol: NYKAA Scrip Code: 543384 Dear Sir / Madam, Subject: Transcript of the Conference Call for Analyst / Investors Please find enclosed the transcript of the Analyst / Investor Conference Call held on Tuesday, August 04, 2026, with regards to the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. This intimation is being submitted pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. We request you to take the above information on records. Thanking You, Yours faithfully, For FSN E-Commerce Ventures Limited Dr. Chetan Sharma Company Secretary & Compliance Officer Encl.: As Above Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6838 9616 | Email – nykaacompanysecretary@nykaa.com CIN: L52600MH2012PLC230136 “FSN E-Commerce Ventures Limited (Nykaa) Q1 FY27 Earnings Conference Call” August 04, 2026 MANAGEMENT: MS. FALGUNI NAYAR – EXECUTIVE CHAIRPERSON, MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – FSN E-COMMERCE VENTURES LIMITED (NYKAA) MR. ANCHIT NAYAR – EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER – BEAUTY – FSN E- COMMERCE VENTURES LIMITED (NYKAA) MS. ADWAITA NAYAR – EXECUTIVE DIRECTOR AND CO-FOUNDER AND CHIEF EXECUTIVE OFFICER OF HOUSE OF NYKAA BRANDS – FSN E-COMMERCE VENTURES LIMITED (NYKAA) MR. VISHAL GUPTA – CHIEF EXECUTIVE OFFICER – NYKAA DISTRIBUTION – FSN E-COMMERCE VENTURES LIMITED (NYKAA) MR. ABHIJEET DABAS – CHIEF EXECUTIVE OFFICER - NYKAA FASHION MR. P. GANESH – CHIEF FINANCIAL OFFICER – FSN E-COMMERCE VENTURES LIMITED (NYKAA) Moderator: Hi. Good evening, everyone. This is Michelle from Chorus Call. Welcome to FSN E-Commerce Ventures Limited Q1 FY27 Earnings Call. FSN E-Commerce Ventures Limited (Nykaa) August 04, 2026 From the management at Nykaa, we have Ms. Falguni Nayar, Executive Chairperson, MD and CEO; Mr. Anchit Nayar, Executive Director and CEO, Beauty; Ms. Adwaita Nayar, Executive Director and Co-Founder and CEO of House of Nykaa Brands; Mr. Vishal Gupta, CEO, Nykaa Distribution; Abhijeet Dabas, CEO, Nykaa Fashion; and Mr. P. Ganesh, Chief Financial Officer. Before we start, we would like to point out that some of the statements made in today's call may be forward-looking in nature, and a disclaimer to this effect has been included in the earnings presentation shared with you earlier. Kindly note that this call is meant for investors and analysts only. By participating in this event, you consent to such recording, distribution and publication. All participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation from management concludes. With that, over to you, Falguni ma'am, for opening remarks. Thank you. Falguni Nayar: Thank you very much, Michelle, and good afternoon, everyone. We at Nykaa are really happy to present this afternoon. We've just ended our Board meeting and are happy to present our first quarter financial year '27 results. I'll start with One Nykaa highlight. Happy to share that what we have seen in this quarter has been strong growth across. So, I'll start with the performance snapshot for the first quarter. Really happy to share that the GMV for the quarter has turned out at INR 5,590 crores, which is a 34% year-on-year growth. And net revenue, similarly, for the quarter is at INR 2,782 crores, which is a 29% year-on-year growth. On the gross profit also, the company has seen gross profit of INR 1,276 crores, a growth of 33% year-on-year and a margin of 45.9%. For EBITDA, happy to report EBITDA at INR 236 crores for the quarter, a 68% year-on-year growth and an 8.5% margin for the quarter. Finally, the PAT is at INR 80 crores, a 226% year-on-year growth, with a 2.9% PAT margin for the quarter. So happy to present the results. Moving on to the next slide. What we have seen is that both the Beauty and the Fashion vertical have seen acceleration in growth and profitability. So if we were to look at the Beauty vertical, and here, we've tried to share the first quarter data for about 3 to 4 years in a row, which is Q1’24 all the way to Q1’27. The NSV for the Beauty vertical for this quarter is INR 2,371 crores, and that's a 29% year-on- year growth. And if you look at it, it is up from INR 1,212 crores about 3 years ago. On the Fashion vertical, similarly, we can see that the NSV has grown from INR 209 crores in quarter 1'24 to this quarter; the Fashion vertical NSV is at INR 451 crores. This represents a 54% growth on a year-on-year basis. So happy to report that both verticals are accelerating in the growth that they are seeing. On the EBITDA front also, the year-on-year EBITDA growth for the Beauty vertical is at about 48%, and the EBITDA itself is at INR 244 crores for Q1'27, and the EBITDA margin is 10.3%. This is higher than 9% a year ago, and it is an improvement over the last 3-to 4-year period. Page 2 of 24 FSN E-Commerce Ventures Limited (Nykaa) August 04, 2026 Similarly, in Fashion, you can see that the improvement in EBITDA has been quite tremendous. So from a negative 14.1% EBITDA margin in Q1'24, you can see that this year, we are almost at a flat breakeven margin, just 0.1% in quarter 1 of this year. That is, again, a huge improvement in EBITDA margin over the last 1 year. Moving on, sharing with you the composition of this growth. And like I said, from a key strategic initiative perspective, growth for both the verticals has strengthened. Over the last few quarters. And it is coming in from all components of these vertical businesses. So, for example, in the case of Beauty, be it e-commerce, be it retail, and be it House of Nykaa, each one is facing a pretty strong growth momentum. Similarly, in Fashion, the customer growth has been quite significant, enriched by the brand portfolio that we now have on our platform as well as encouraging response from the Nike partnership. On the consumer front, we are now happy to report that almost 60 million consumers are Nykaa consumers who have ever bought from Nykaa, and this is a 33% growth year-on-year. And we have been expanding our consumer immersive events. So if you see Nykaa, there's a lot of industry talk about on-the-ground events and experiential being very big, and Nykaa has always been doing a lot of that. But now we are scaling it up further. Through a lot of events like L'Oreal Paris Cannes, of course, that we do. But besides that, the beauty bars, many flagship sales, makeup master classes, experiential pop-ups. We did a Rare Beauty launch event, House of Nykaa, many new launch events as well as the campus programs that we have for Gen Z. So a lot of immersive experiences for the consumers. On the House of Nykaa front, now we have almost 13 consumer brands, and they're growing at a 36% year-on-year basis. Kay Beauty and Nykaa Cosmetics each earned a number of industry recognitions this year for their innovation, including the leading award from the U.K. through CEW U.K. as well as awards within India from Femina, ET and others. Our brand partners, brand partners of Nykaa across its platforms, are growing. The numbers are growing. So we now deal with 10,000-plus brand partners across beauty and lifestyle. In fact, almost 160 were added in this quarter alone. And many important ones amongst those were brands like Rare Beauty, SK-II, Birkenstock in Fashion, as well as Debenhams. So on all fronts, high-quality brand partners are signing up. From the retail business perspective, now we are at 324 stores across 100-plus cities. In fact, 11 stores were opened this quarter. And we also opened our largest-ever ultra-luxe Nykaa store in Vasant Kunj, which is at 5,000 square feet. We are also offering exclusive brand outlets to some of our [Showing first 8,000 characters — download PDF for full document]