Presentation made at the 14th Annual General Meeting of the Company held on August 25, 2026.

FSN E-Commerce Ventures Limited August 25, 2026 National Stock Exchange of India Limited BSE Limited Symbol: NYKAA Scrip Code: 543384 Dear Sir/ Madam, Sub: Presentation made at 14th Annual General Meeting (AGM) of the Company With reference to the captioned subject, please find attached herewith the presentation made to the Members at the 14th AGM of the Company held today i.e., August 25, 2026. The presentation is also available on the website of the Company at https://www.nykaa.com/investor- relations/lp This is for your information and records. Thanking You, Yours faithfully, For FSN E-Commerce Ventures Limited Dr. Chetan Sharma Company Secretary and 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 FY2026 AGM FSN E-Commerce Ventures Limited 25th Aug 2026 | 10:30 AM IST Industry Overview and One Nykaa Nykaa: India’s leading beauty and lifestyle destination House of India’s largest beauty India’s leading premium online India’s leading eB2B BPC distribution Consumer brands portfolio across omnichannel retailer fashion platform platform beauty and fashion Rs 20,000 Cr Rs 10,000 Cr 55 mn GMV NSV Cumulative customer base India’s discretionary spend to see outsized growth with continued GDP growth India GDP ($ tr) India Discretionary spend as % of retail 400 870 1,250 7,150 8,700 2x+ 8-10 60-62% 2x 4 FY16 - India FY26 - India FY36E - FY26 - FY26 - US India China GDP ($ tr) → 2 4 8-10 20 30 FY16 FY26 FY36E Overall retail market size ($ bn) Source: India got retail (2025), IMF, Morgan Stanley. U.S. Census Bureau, National Bureau of Statistics of China BPC and Fashion are the fastest growing discretionary categories India BPC and Fashion to outpace Discretionary growth India’s Discretionary spend FY21-26 CAGR 12%+ 12%+ 23% FY26-36E CAGR 30% $465 bn $740 bn 10% ~10% $110 bn $200 bn FY26 FY31E Overall Discretionary BPC Fashion BPC + Fashion Nykaa sits in the overlap of the most attractive consumption vectors: premium, digital and discovery-led Source: CLSA report, Redseer (India BPC 2030 and India got retail 2025) Nykaa’s core TG to double in next 10 years reaching 100mn+ households India’s Annual Household Income High (Rs 50L+) 17 mn (5%) 35 mn (10%) Nykaa’s Core TG Upper Mid (Rs 12 - 50L) 43 mn (13%) 72 mn (19%) Nykaa’s Lower Mid (Rs 4 - 12L) 101 mn (26%) 88 mn (27%) Emerging TG Low (<Rs 4L) 177 mn (54%) 174 mn (45%) FY26 FY36E 55% of India Household will account for 85% of India’s Income Pool in FY36 Source: CLSA report India is among fastest growing BPC markets, a $40 bn+ opportunity by FY31E India BPC market size ($ bn) Unorganized Offline Organized Offline Online Largest globally by FY31 12%+ overall CAGR 42 20%+ online CAGR Nykaa is well placed to serve BPC market across online, organized offline and unorganized offline, each exceeding $13bn+ by FY31 9% overall CAGR ~30% online CAGR 25% 32% KIOSK + Assisted GT/MT FY20 FY26 FY31E Source: Redseer (India BPC 2030), conversion rate 1 USD = Rs 95 India online fashion market: a $50 bn opportunity India online premium fashion market ($ bn) India Fashion market size ($ bn) Largest globally by FY31 Men Women Offline Online 12%+ overall CAGR 160 26-28% online premium 8.5 – 9.5 22-25% online CAGR Fashion CAGR 4 - 4.5 6-7% overall CAGR 27-28% online CAGR 60 18% 3 4.5 - 5 FY26 FY31E FY20 FY26 FY31E Premium fashion market in India is expected to become 3x by FY31 Source: Redseer (India’s got retail 2025), BCG and Meta. conversion rate 1 USD = Rs 95 Nykaa’s evolution to a Rs 20,000 Cr GMV beauty and lifestyle ecosystem One Nykaa GMV (Rs Cr) ~Rs 16,000 Cr+ 20,000 in 5 yrs 15,600 12,500 9,700 Rs 4,000 Cr+ 6,900 in 8 yrs 4,050 FY13 FY21 FY22 FY23 FY24 FY25 FY26 Every business is scaling against a large and distinct market opportunity GMV Mix1 (%) GMV growth TAM (FY31E) (FY21-26) House of Nykaa - Fashion, 2% 4x $14 bn Nykaa Beauty Online BPC House of Nykaa - Fashion, 1% Fashion, 25% Fashion, House of Nykaa - Beauty, 8% 9% Nykaa Stores 7x $13 bn Organized offline BPC FY26 BPC Offline, 4% FY21 Superstore, 6% BPC Online, 55% Superstore $14 bn House of Nykaa - (Launched in FY22) Unorganized retail in 3 years Beauty, 14% BPC Online, 77% BPC Offline, 6% 7x $48 bn Nykaa Fashion Online Fashion Today, Nykaa’s ecosystem consists of a diversified set of businesses spanning beauty and fashion, across online B2C, 8x $100 bn B2B and physical retail House of Nykaa Overall TAM2 Total GMV mix exceeds 100% as House of Nykaa GMV will overlap with the omnichannel business verticals Source: Redseer (India got retail 2025), excluding retail wellness Nykaa crosses Rs 10,000 Cr Revenue milestone; EBITDA grew 5x in 5 yrs Revenue (Rs Cr) EBITDA (Rs Cr) 26% YoY 59% YoY 10,022 4x in 5 yrs 5x in 5 yrs 752 7,950 6,386 5,144 3,774 2,441 157 163 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 EBITDA 6.4% 4.3% 5.0% 5.4% 6.0% 7.5% Margin % Investments in customer acquisition and best in class infra and tech Cumulative customer base (mn) Warehouse Count (#) Beauty Store Count (#) ~5x in 5 yrs 4x+ in 5 yrs ~3x in 5 yrs 44 FY21 FY26 FY21 FY26 FY21 FY26 55 3.1 L sq. ft 15.2 L sq. ft Cumulative customers in FY26 Store space in FY26 [5x in 5 yrs] Store space in FY26 [3x in 5 yrs] We continue to invest in key focus areas: Customer acquisition, Retail expansion, Fulfilment capabilities, and Technology Productivity gains acceleration across the organization On-roll employee headcount (#) 4,072 3,735 3,373 3,177 2,764 2,045 FY21 FY22 FY23 FY24 FY25 FY26 Revenue/employee 1.2 1.4 1.6 1.9 2.1 2.5 (Rs Cr) Beauty Omnichannel Retail Beauty reached Rs 8,500 Cr+ NSV in FY26, growing 4x in 5 years NSV (Rs Cr) Rs 15,000 Cr 4x in 5 yrs 8,504 GMV [4x in 5 yrs] 6,674 5,362 4,278 45 mn 3,124 2,115 Cumulative Customer Base 4,500+ FY21 FY22 FY23 FY24 FY25 FY26 Brands Trusted partner for all iconic beauty groups globally 27 brands 11 brands 24 brands 8 brands 15 brands 6 brands 4 brands 3 brands 8 brands 3 brands 16 brands 15 brands 8 brands Exclusive on Nykaa at present/ at the time of launch/ Selective Exclusivity Nykaa Global store brands FY26: A defining year of marquee brand launches 200+ New brands launched in FY26 From Korean favourites to iconic luxury houses, from clinical derma brands to cult-favourite labels — brands across every price point, origin and category have chosen Nykaa as their trusted partner. Korean Beauty Global Beauty Ultra Luxury Exclusive on Nykaa at present/ at the time of launch India’s largest specialty beauty stores network covering nearly 100 cities FY26 was a breakthrough year for Nykaa Retail, marked by the launch of differentiated premium and Store Count experiential formats catering to diverse consumer needs Store count 313 Cities 104 99 FY15 FY22 FY23 FY24 FY25 FY26 Space (Sq. ft.) 3.1 L+ Crossed 100th Launched Nykaa Perfumery, Kay Launched first Launched first retail store Kafe, Charlotte Tilbury’s Flagship store Flagship store milestone store and Kiehl’s store takeover Nykaa has a well diversified store network across tiers, regions and servicing different customer need states FY26 was a landmark year of retail innovation and first-of-a-kind format launches Nykaa Perfumery Exclusive brand boutiques Kay Kafe House of Nykaa store Managing 11 exclusive Kiehl’s India store and expanding brand footprint A new way to discover luxury A curated multi brand destination A first of its kind lifestyle café blending fragrances through personalized exclusively for House of Nykaa Beauty 1st flagship Charlotte Tilbury boutique in beauty, coffee and community experiences brands South Asia Nykaa Now: Rapid delivery serving largest BPC assortment, live across 13 cities Capabilities Assortment Coverage Speed 1,000+ 30-60 mins 13 Cities Brands [high demand pockets] Pan India 4,500+ 24-36 hrs [70% of [Showing first 8,000 characters — download PDF for full document]