Vaibhav Global Ltd. · NSE:VAIBHAVGBL
Vaibhav Global — Q3 FY26 Earnings Presentation
21 slides from Vaibhav Global's earnings presentation, December 2025
Slide 1: Vaibhav Global Limited Q3 & 9M FY26 Investor Presentation
VAIBHAV GLOBAL LIMITED Q3 & 9M FY26 Investor Presentation SHOP LC DELIVERING JOY
Slide 2: About Us
About Us Vertically-integrated Digital Retailer of Fashion Jewellery & Lifestyle products * End-to-end B2C business model * Presence through proprietary TV channels and digital platforms Solid Infrastructure Backbone i) * Continued investment in building digital Z capabilities * Scalable model with
Slide 3: A Global Retailer on Proprietary TV Channels
A Global Retailer on Proprietary TV Channels DP Opportunity: Large & Scalable Differentiated Customer Proprietary ‘TV Channels’ TAM of USS 20bn Proposition : Target Customers: Value-Positioning | Baby Boomers & Gen X ($30-$45) > Vertically integrated sourcing, merchandising & fulfilment > Direct cus
Slide 4: Complimented by Digital Platforms
Complimented by Digital Platforms Digital Platforms Ee Proprietary Digital Platform = OTT Platforms - Our Presence www.shoplc.com www-tjc.co.uk www.shoplc.de i SETI ON www.idealworld.tv ! Google Play www.mindfulsouls.com www.rachelgalley.com You) facebook Instagram Roku TV Gan IV DIRECTV stream
Slide 5: Vertically Integrated Supply Chain
Vertically Integrated Supply Chain Strong Global Sourcing Base In-House Manufacturing in India ‘A Global Jewellery Hub’ — = 9 Germany Global manufacturing hub of Fashion Jewellery + & Gemstones Availability of skilled manpower 170,000 sq. ft. Sourcing Base Fully-integrated Manufacturing Set-up in Ja
Slide 6: Through New Designs & Products
i) Through New Designs & Products Vv, Fashion Jewellery & Gemstones Life-Style Products LAB GROWN DIAMOND SMACKDOWN HOT DEAL LIMITED TIME ONLY! * ~14k-15k new jewellery designs launched annually * Arich product basket of ~5k unique SKUs + In-house testing lab and manufacturing * Facilitated by innov
Slide 7: Strengthening Own Brand Portfolio
Strengthening Own Brand Portfolio Leveraging manufacturing & digital capabilities 16 brands across categories and markets Achieved ~48% of gross B2C sales from in-house brands in Dec. Quarter Target: ~50% of gross B2C sales by FY27 Strategic brand matrix focused on price laddering and customer offer
Slide 8: R's of Customer Engagement
4 R’s of Customer Engagement TV Reach (HH) Linear | OTA Digital Websites | Mobile Apps | Market-places | OTT| Social Media Enduring relationships Convenience Note: TTM: Trailing Twelve Months | *pieces per customer (SLC, TJC & Germany) | HH: Households ‘Refer to customers who have never purchased pr
Slide 9: Unique Customers and Broad Based E-tailer
Unique Customers and Broad Based E-tailer DP Unique Customer Base (in 000') 2% YoY growth FY22 FY23 FY24 ‘Y25, Dec-24 Dec-25 T™™ T™ Unique Customer Base (TTM basis) : : : ' B2C Revenues by Product 5 | : | | . I ; FY20 FY25 9M FY26 FY20 FY25 9M FY26 FY20 FY25 9M FY26 ‘9M FY26 mTVrevenues Digital reve
Slide 10: Q3 FY26 Highlights
Q3 FY26 Highlights 4 Revenue 1,066cr 9.1% YoY allo Quarterly update: Revenue: Rs. 1,066cr GM: 63% PAT: +41% YoY Strong Cashflows: | OCF: Rs. 160cr (+105% YoY) | FCF: Rs. 143cr (+165% YoY) EBITDA it) 13.2% 26% YoY a. & & 2 Unique customer base 3° interim dividend | 7706k Rs. 1.50/- share 2% YoY _ (28
Slide 11: Financial Highlights - Q3 Segment Results
Financial Highlights - Q3 Segment Results Rei Quarter YTD S. in crores 31Dec2025 31Dec2024 Change % 31Dec2025 31Dec2024 Change % Segment Revenue Retail Channels: a) United States of America 593 545 8.7% 1,532 1,417 8.1% b) United Kingdom 301 278 8.2% 779 707 10.2% c) Europe 118 104 14.0% 298 283 5.3
Slide 12: Financial Highlights - Q3 FY26 Revenue breakup
Financial Highlights - Q3 FY26 Revenue breakup DP TV Revenue ee ici tom Digital Revenue 112% 547 589 380 423 Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26 Tv Digital Sales Volume ('000s) Average Selling Price US$ Sales Volume ('000s) Average Selling Price USS 1,737 1,710 37.2 38.6 L L L if a ' : Lo : : ; . , : i
Slide 13: Strong Cash Generation and Returns Profile
Strong Cash Generation and Returns Profile 268 230 FY20 FY21 FY22 FY23 FY24 FY25 9M FY26 15% | li ls 7 FY20 FY21 FY22 FY23 FY24 FY25 9M FY26 FY20 FY23 FY24 FY25 9M FY26 a (103) i U U | I (194) (178) (167) (170) (213) (387) 61% 46% 31% | [| aay «19% 20% SEER FY20 FY21 FY22 FY23 FY24 FY25 9M FY26
Slide 14: Financial Highlights - Q3 FY26 Revenue breakup
Financial Highlights - Q3 FY26 Revenue breakup Revenue -— Local Currency Shop LC (US) (US$ mn) t 3.0% 64.6 66.5 Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26
Slide 15: Germany
Germany Increased TAM (immediate target addressable market) by ~20% Q3 FY26 revenue : Gross Margins / Repeat purchase Euro 7.9mn ~66% 27 pieces Q3 EBITDA Mai ~26% “% ~28% Digital sales mix Lifestyle Products’ sales mix > Better product mix and pricing discipline maintained strong gross margins at ~6
Slide 16: Ideal World & Mindful Souls
y ideal World & Mindful Souls DP Ideal World | Mindful Souls Q3 FY26 revenue | Unique customer (TTM) Profitability Revenue Unique customer (TTM) Profitability ! Sustained Strong | Improving Unit * / : 4.0mn | 106k / . £7-1mn 142k EBITDA Margin $ Economics 233 Quarterly Updates 169 Q -_ | > Lower rec
Slide 17: EBITDA Margin Walk
EBITDA Margin Walk Particulars eon Remarks EBITDA Q3 FY25 11.5% Gross margin #1.7% Better realisation and cost efficiencies Digital marketing #1.8% Sustained investments towards strengthening digital businesses Airtime #0.6% Impact of operating leverage Employee cost #1.2% Improved efficiency and op
Slide 18: Growth With Responsibility
Growth With Responsibility Environmental Stewardship ~37,000 saplings planted Developed 2 Miyawaki forests 3.68 mw solar | 23.7mn kWh units 184 ev two-wheelers, 3 EV cars 12 buses replaced 100% biodegradable waste > manure 3,600 kg e-waste recycled 1,950 kg plastic recycled Water Stewardship 1,100 k
Slide 19: Robust Corporate Governance
Robust Corporate Governance DP -RS. 75cr Dividend Payout: 43% (9M FY26) LEED’S PLATINUM & ICSI NATIONAL AWARD GOLD CERTIFICATION for Excellence in Corporate Governance - PWC (Stable) f PLATINUM Dividend Payout Policy ' = noes i = 20-30% of consolidated free cash flows | IgJA: HIGHEST EXPORTER OF etc
Slide 20: Shareholding Pattern as on 31 December 2025
Shareholding Pattern as on 31** December 2025 DP 2 Shareholding Pattern Key Shareholders Holding (%) 8 Nalanda India Fund Limited 7.6% = Promoter & Promoter Malabar India Fund Limited 6.2% Group = Foreign Institutions (FPI, Fil) oe . & NRI Vijay Kedia 2.0% - Domestic Instititions (MF and AIF) Vangua
Slide 21: Vaibhav Global Limited
VAIBHAV GLOBAL LIMITED Company Nitin Panwad, Group CFO Nitin.panwad@vglgroup.com Prashant Saraswat Head-Investor Relations Prashant.saraswat@vglgroup.com www.vaibhavglobal.com Investor Relations Advisors Amit Sharma Amit.Sharma@adfactorspr.com Nishita and Shrusti shrusti.jain@adfactorspr.com, nishit