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Consumer Intelligence Driven Global Technology Company Affle 3i Limited Q4 & 12M FY2025 Earnings Presentation For the period ended March 31, 2025
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Affle 3i Vision: Powering 10x Decadal Growth • Maximising measurable business outcomes driving real-world impact • Inclusive, democratized access to media for brands of all sizes • Leveraging Authentic, Actionable and Augmented Intelligence (Affle AI) • AI agents to enhance operational productivity • Leading with platform & product innovation powering the connected ecosystem • AI-driven hyper-contextual creative generation at exponential scale
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Affle 3i Investors & Partners Summit (08.04.25) Affle India renamed to Affle 3i with focus on Innovation, Impact, Intelligence Unveiled Affle 3i vision powering hyper-contextual consumer experiences at scale Announced 10x growth roadmap driven by personalised ads and GenAI powered creative use cases Leveraging GenAI to unlock scale and innovation through CTV.ai, redefining brand performance Intuitive self serve platforms to expand our addressable market Introduced 100 live AI agents and targeted AI-enabled use cases to augment all jobs roles and functions Augmenting the authentic intelligence of Afflers across coding, creatives, campaign management & customer success Set 2 new records and won 4 awards, earning recognition from both Asia & India Book of Records First company to ring the BSE gong with 3-meter-long mallets, symbolizing leadership commitment and teamwork
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Affle | Performance Highlights 4 EBITDA2 PAT Revenue1 Note: 1) Revenue from contracts with customers; 2) EBITDA aligned to reported financials statements (without any adjustments) All numbers are on a consolidated basis, unless otherwise stated Amount in Rs. million 5,062 6,023 +19.0% Q4 FY2025 vs. Q4 FY2024 Y-o-Y Comparison +36.7% 980 1,340 +17.8% 875 1,031 +2.8% 1,002 1,031 Q4 FY2025 vs. Q3 FY2025 Q-o-Q Comparison +2.0% 1,314 1,340 FY2025 vs. FY2024 Y-o-Y Comparison 18,428 22,663 +23.0% +34.2% 3,600 4,832 +28.5% 2,973 3,819 +0.1% 6,017 6,023
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In Rs. million Q4 FY2025 Q4 FY2024 Y-o-Y Growth Q3 FY2025 Q-o-Q Growth FY2025 FY2024 Y-o-Y Growth Revenue from Contracts with Customers 6,023 5,062 19.0% 6,017 0.1% 22,663 18,428 23.0% Inventory and Data Costs 3,648 3,086 18.2% 3,631 0.5% 13,793 11,254 22.6% Employee Benefits Expenses 583 600 (2.9%) 576 1.3% 2,313 2,352 (1.7%) Other Expenses 452 396 14.1% 496 (9.0%) 1,726 1223 41.1% EBITDA 1,340 980 36.7% 1,314 2.0% 4,832 3,600 34.2% % EBITDA Margin 22.2% 19.4% 21.8% 21.3% 19.5% Depreciation and Amortisation Expenses 266 202 258 967 715 Finance Costs 24 49 28 126 189 Other Income 189 273 209 938 572 Profit Before Tax 1,239 1,002 23.7% 1,237 0.1% 4,676 3,268 43.1% Total Tax 208 127 64.2% 235 (11.6%) 858 295 190.4% (Subtract): Non-controlling Interest - - - - (0.1) Profit After Tax (net of non-controlling interest) 1,031 875 17.8% 1,002 2.8% 3,819 2,973 28.5% % PAT Margin 16.6% 16.4% 16.1% 16.2% 15.6% % Effective Tax Rate (ETR) 16.8% 12.6% 19.0% 18.3% 9.0% Consolidated Financial Summary 5Note: 1) EBITDA aligned to reported financials statements (without any adjustments); 2) PAT attributable to equity holders of the Company 2 1
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5,168 10,817 14,340 18,428 22,663 1,300 2,131 2,888 3,600 4,832 1,031 1,834 2,453 2,973 3,819 FY2021 FY2022 FY2023 FY2024 FY2025 Revenue from Operations EBITDA PAT Annual Performance Trend (Consolidated) 6 Revenue CAGR 44.7% EBITDA CAGR 38.9% PATCAGR 38.7% 23.0% 34.2% 28.5%Y-o-Y Growth Note: 1) Normalized PAT (Refer respective quarter’s earnings presentation for the detailed working) Particulars in Rs. million 1 1
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1,032 2,060 2,603 2,623 4,260 FY2021 FY2022 FY2023 FY2024 FY2025 Cashflows Trend and Return Ratios (Consolidated) 7 Return Ratios (As of March 31, 2025) (Adjusted to normalize the unutilized portion of QIP and Preferential Proceeds) **ROE (%) (Return on Equity) 15.0% **ROCE (%) (Return on Capital Employed) 16.9% Gross Debt/Equity (x) 0.03x Operating Cash Flows* (Rs. mn) Note: 1) FY2021 OCF was adjusted for Deferred Tax Liability on account of Goodwill of Rs. 14.18mn (one -time expense); *Operating Cashflow includes impact of FCTRs (Foreign Currency Translation Reserves) as per IND AS **Return on Equity = (PAT / Total Shareholder’s Equity); Return on Capital Employed = [EBIT /(Total Assets – Current Liabilities)] 1
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71.1% 28.9% India & Emerging Markets Developed Markets 3,475 3,546 3,761 3,558 4,066 4,313 4,987 5,062 5,195 5,429 6,017 6,023 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Quarterly Performance Trend (Consolidated) 8 Revenue from Operations (Rs. mn) Market-wise Performance (Q4 FY2025) India & Emerging Markets 15.9% Developed Markets 27.3% Broad-based Growth Across Markets (Y-o-Y) Y-o-Y Y-o-Y Revenue Split
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Quarterly Performance Trend (Consolidated) 9 EBITDA1 (Rs. mn) & EBITDA Margin (%) Profit After Tax2 (Rs. mn) & PAT Margin (%) Note: 1) EBITDA aligned to reported financials statements (without any adjustments); 2) PAT for select previous quarters may be normalized to exclude any impact of non-cash gain on fair valuation of financial instruments and any such exceptional item. Refer respective quarter presentations for a detailed worki ng 687 723 804 716 781 872 967 980 1,045 1,133 1,314 1,340 19.8% 20.3% 21.4% 20.0% 19.2% 20.2% 19.4% 19.4% 20.1% 20.9% 21.8% 22.2% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 545 587 690 624 662 668 768 875 866 920 1,002 1,031 15.4% 16.0% 17.6% 16.7% 15.9% 15.1% 15.1% 16.4% 15.9% 16.1% 16.1% 16.6% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
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CPCU Business | Q4 Performance Trend (y-o-y) 10 # No. of Conversions (mn) Average CPCU(Rs.) CPCU Revenue (Rs. mn) Q4 FY2025 Q4 FY2024 62.5 88.4 104.0 vs. Q4 FY2023 vs. 51.2 57.0 57.8 3,201 5,038 6,007 All numbers are on a consolidated basis, unless otherwise stated
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CPCU Business | 12M Performance Trend (y-o-y) 11 # No. of Conversions (mn) Average CPCU(Rs.) CPCU Revenue (Rs. mn) FY2025 FY2024 256.8 312.8 392.8 vs. FY2023 vs. 51.3 56.2 57.5 13,175 17,596 22,568 All numbers are on a consolidated basis, unless otherwise stated
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61.9 64.7 67.8 62.5 68.7 72.0 83.8 88.4 90.8 94.8 103.3 104.0 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 CPCU Business | Conversions Trend 12 Y-o-Y growth in all quarters Number of Conversions (mn) All numbers are on a consolidated basis, unless otherwise stated
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67% 74% 74% 76% 76% 3,486 8,009 10,675 14,074 17,169 FY2021 FY2022 FY2023 FY2024 FY2025 % Revenue Contribution Revenue (Rs. mn) Verticalized Focus on High Growth Categories 13 Verticalized approach within fast-growing resilient industry segments across E, F, G, H Categories driving 100% of our revenue Direct Customers – Revenue Contribution E-commerce Entertainment Edtech Category E Apps for casual consumption of entertainment content & activities Apps for education & learning through online channels Online marketplace for shopping and retail Gaming Government Groceries Category G Facilitation of government services / distribution of citizen services Marketplace for ordering groceries and having it delivered to doorstep Apps for gamers with skills and gaming related money & transactions Fintech FMCG Foodtech Category F Brands promoting wide range of everyday goods & items across categories Apps for online food ordering and F&B related supply chain services Apps enabling online payments or delivering financial products & services Healthtech Hospitality & Travel Home & Other Utilities Category H Services related to hotels, travel, ride- hailing, auto, and more Brands promoting range of household and utility related products & services Spanning across a range of medical, healthcare & wellness related services
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Business Overview & Case Studies - Affle Overview - CPCU Business Model - Our Culture - Affle Consumer Platform Case Studies
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151) For the 12 months period of April 1, 2024 to March 31, 2025; 2) Numbers aligned to reported financials statements (without any adjustments) About Us o Global technology company with leading position in India o Delivers consumer recommendations and conversions through relevant mobile advertising for leading global brands ROI-driven CPCU Business Model o Affle Consumer Platform Stack powers integrated consumer journeys for marketers to drive high ROI, outcome-led advertising anchored on our CPCU model o AI/ML deep learning algorithms powered by our in-house Data Management Platform 3.6 Billion1 Connected Devices Business Credentials o Tech IP addressing privacy & ad fraud o R&D focus with a strong patent portfolio o DPTM accredited o ISO 27001:2022 certified Tech Capabilities o Affle boasts a global reach across all key regions including Asia, North America, South America, Europe and Africa, encompassing both developed and emerging markets Global Reach Performance-driven CPCU Conversions (In million) Converted Users 72 105 195 257 313 393 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Financials2 Revenue 4.4x Rs. 22,663 mn 5-yr Growth FY2025 Total 36 Patents 13 Granted; 23 filed & pending EBITDA 3.7x Rs. 4,832 mn PAT 3.7x Rs. 3,819 mn72.8% India & Emerging Markets Revenue –12M FY25 27.2% Developed Markets Revenue – 12M FY25 Affle Overview
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New/existing user conversion (offline) Existing user repeat conversion (online) New user conversion (online) Affle | Cost Per Converted User (CPCU) Business 16 Use Case – Targeted new user acquisition optimized to in-app transaction/registration/event Use Case – Target interested user to complete the transaction Use Case – Driving footfalls and transactions at physical retail stores (O2O) 99.7% of Revenue from Contracts with Customers contributed by CPCU model in Q4 FY2025
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Affle Consumer Platform with multiple DSPs | Simplifying and unifying the ecosystem 17 Advertisers Demand-Side Platforms Use-Cases New User Acquisition Retargeting Branding Data Management Platform AI / ML Advanced Algorithms Multiple Patents filed & granted ROI Consumers Shoppers ConvergeAI Supply Cloud ● Cloud Optimization ● Supply Optimization ● Fraud Prevention ● Data Privacy Compliance Supply-Side Platforms OEMs & Operators Direct Partnerships Walled Gardens Verticalization E F G H Industry Categories Consumer Platform Business Average CPCU Rate No. of Conversions CPCU Revenue C P C U M o d e l
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Affle Culture | Tech Innovations & Accreditation 18 Global Tech IP Portfolio Total 36 Patents with 13 granted and rest filed & pending across jurisdictions Powering Futuristic Tech Use Cases Award-winning Ad Fraud Detection Platform Affle’s mFaas: Real-time solution for addressing digital ad fraud, with multiple patents granted and/or filed Global Accreditations • Data Protection Trustmark certified • ISO 27001:2022 certified 20+ years of focused R&D and innovation Real-time Predictive Algorithm 3.6 Bn1 Connected Devices Reached Unified Consumer Tech Proposition Artificial Intelligence Machine Learning Deep Learning Note: 1. For the 12 months period of April 1, 2024 to March 31, 2025
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Affle Culture | Tech & Thought Leadership 19 Jampp recognized as a top growth partner for both android & iOS, across 10 categories in Singular’s ROI Index 2025
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Affle Consumer Platform Case Studies 1. 99 Acres | Reaching relevant home buyers through AI- intelligence on premium iOS devices 2. FREENOW | Growing high-value riders for urban mobility in Europe with advanced data science models 3. enjoei | Increasing repeat conversions for leading circular economy brand in Brazil
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99 Acres | Reaching relevant home buyers through AI-intelligence on premium iOS devices 21 Note: (1) All case studies are based on First Party data consented and shared by the advertiser/agency together with Affle’s platform data; (2) Campaign Period: Jan-Mar’25; (3) The ads and/or platform modules/screenshots shown here are for illustrative purpose only About the Advertiser 99acres is a leading Indian online real estate platform and is part of the public listed InfoEdge group in India Objective Scale the acquisition of high-intent premium iOS users while optimizing post-tap conversion rates to generate quality conversions Affle Consumer Platform Solutions Affle’s platform solutions delivered success through: ● Newton Intelligence to target high-performing time slots based on user behavior ● Utilized AI keyword tools to capture both brand and high-converting category terms, enhancing visibility and new user quality ● Executed a multi-placement strategy across Search Results, Product Pages, and the Search Tab to maximize reach and relevance ● Continuously refined campaigns to maintain strong post-tap conversion rates for ROI optimized conversions Results (during Q4 FY25) ● 14% increase in new user onboards during the quarter ● 38% growth in conversions ● Tap through rates grew 91% Jan’25 Mar‘25
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FREENOW| Growing high-value riders for urban mobility in Europe with advanced data science models 22 NOTE: (1) All case studies are based on First Party data consented ad shared by the advertiser/agency together with Affle’s platform data; (2) Campaign Period : Jan-Mar’25 ; (3) The ads and/or platform modules/screenshots shown here are for illustrative purpose only About the Advertiser FREENOW is the Mobility Super App with the largest vehicle choice for consumers across many global markets in over 150 cities. This leading app is backed by BMW Group & Mercedes-Benz Mobility. Objective FREENOW was looking to attract new users and encourage existing riders to book more taxi trips. Affle Consumer Platform Solutions FREENOW partnered with Affle’s Consumer Platform for New User Acquisition and App Retargeting, successfully expanding their user base while keeping riders engaged and booking journeys: ● Leveraged advanced data science models to optimize campaign Return on Ad Spend (ROAS) by analyzing multiple data signals ● Tested hyper-relevant custom creatives, such as Weather-Based Ads, that dynamically adapt to real-time weather conditions ● Implemented Always-on Lift Measurement, enabling FREENOW to measure incremental campaign impact accurately from day one Results ● 42% Increase in ROAS (Jan-Feb ‘25 vs Dec-Nov ‘24) ● 11% increase in ride revenues (Feb’25 vs Nov’24) ● 20% Campaign Incrementality Lift (February 2025) Affle’s Consumer Platform is a valuable partner for us. Their growth platform seamlessly supports both User Acquisition and App Retargeting, helping us attract high-quality riders and drive incremental trips across a variety of geos. Bruno Romão Rodrigues, Regional Digital Marketing Lead at FREENOW
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enjoei| Increasing repeat conversions for leading circular economy brand in Brazil 23 NOTE: (1) All case studies are based on First Party data consented ad shared by the advertiser/agency together with Affle’s platform data.; (2) Campaign Period : Jan- Mar’25 (3) The ads and/or platform modules/screenshots shown here are for illustrative purpose only About the Advertiser enjoei is a public listed Brazilian digital marketplace platform focused on fashion and lifestyle products, offering a peer-to-peer model for buying and selling used items, with a focus on transforming consumption habits, driving the shopping economy, and refreshing wardrobes. Objective Understanding the importance of nurturing users beyond the install to build long-term customer relationships, enjoei focused on increasing repeat purchases from existing customers. Affle Consumer Platform Solutions enjoei partnered with Affle’s Consumer Platform for App Retargeting, leveraging our machine learning technology and creative expertise to reach their ambitious ROAS goal: ● Predictive bidding for higher ROI: Our machine learning algorithms identified and engaged customers most likely to convert, maximizing enjoei’s return on investment. ● Dynamic creatives at scale: Dynamic Product Ads allowed enjoei to showcase their extensive catalog by automatically generating and testing multiple ad variations. ● Expanded reach across premium supply: Our dedicated Creatives effectively adapted enjoei’s assets to scale across high-quality placements across all inventory types. Results ● 171% increase in new buyers (Jan-Feb ‘25 vs Oct-Nov ‘24) ● 233% growth in Gross Merchandise Value (Jan-Feb ‘25 vs Oct-Nov ‘24) ● 76% increase in purchase value (Feb’25 vs Jan’25) "Jampp has become a key partner in our Retargeting efforts. With the assistance of their expert team, we are increasingly scaling our campaigns and exceeding our established goals." Gabriela Cimino, Digital Marketing Analyst at enjoei
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Shareholders Information
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Affle | Shareholders Information 25 Shareholding Pattern (As on March 31, 2025) Brokerages Covering Affle (Latest) ICICI DirectSharekhan Institutional Research Desk HNI / Retail Desk 55.0% 15.3% 18.6% 11.1% Promoters & Promoter Group Mutual Funds / Banks / Insurance / AIFs / QIBs FIIs / FCBs Others *Total Shares Outstanding – 140,496,310 B&K Securities Elara Capital Avendus Spark Capital DAM Capital Amsec Mirae Research Anand Rathi Goldman Sachs Dolat CapitalAmbit Capital Dalal & Broacha Citi Research * Includes 29,000 new equity shares allotted to ESOP trust of Affle 3i Limited for which listing and trading approval was received during the quarter
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Disclaimer 26 This presentation and the accompanying slides (“Presentation”) have been prepared by Affle 3i Limited (“Affle” or the “Company”) solely for informational purposes. It does not constitute an offer to sell, or a recommendation or solicitation of an offer to subscribe for or purchase any securities, and nothing contained herein shall form the basis of any contract or commitment. This Presentation is not intended to be a prospectus under the Companies Act, 2013, or an offer document under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended. This Presentation should be viewed in conjunction with the Company’s financial results as disclosed on the stock exchanges where it is listed and is not intended to be updated for any material developments occurring after the date of the Presentation. The Presentation includes certain non-GAAP / non-Ind AS financial measures and operational key performance indicators (“KPIs”) including but not limited to EBITDA, CPCU data, vertical-wise split, geographic data, client data and number of connected devices, which are unaudited and may be derived from internal management reports. These metrics are intended to offer additional insight into our operating performance, as monitored by our management and Board of Directors, and are based on internal methodologies developed to support strategic and operational decision-making. These methodologies may involve judgments, estimates, and assumptions that are intended to reflect the evolving nature of the business and its priorities. As such, these metrics may not be prepared in accordance with standardized accounting principles and may not be comparable to similarly titled measures presented by other companies. Certain statements in this Presentation are forward-looking in nature and reflect management’s current views, plans, or expectations. These are based on various assumptions and involve known and unknown risks and uncertainties, which may cause actual results to differ materially from those expressed or implied. Such statements should not be regarded as guarantees of future performance, and undue reliance should not be placed on them. The information contained in this Presentation is not to be taken as any recommendation made by the Company or any other person to enter into any agreement with regard to any investment. You will be solely responsible for your own assessment of the market and the market position of the Company, and you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company. You acknowledge and agree that the Company and/or its affiliated companies and/or their respective employees and/or agents have no responsibility or liability (express or implied) whatsoever and howsoever arising (including, without limitation for any claim, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this Presentation and neither the Company, its affiliated companies nor their respective employees or agents accepts any liability for any error, omission or misstatement, negligent or otherwise, in this Presentation and any liability in respect of the Presentation or any inaccuracy therein or omission therefrom which might otherwise arise is hereby expressly disclaimed. By attending this Presentation and/or accepting a copy of this document, you acknowledge and agree to the above limitations and conditions, and specifically represent and warrant that: (i) you will use this document solely for informational purposes; (ii) you will not engage in any unauthorized communication regarding the information contained herein with any employee, director, customer, supplier, or regulatory authority without prior written consent from the Company; and (iii) you are an eligible investor attending this presentation.
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Website www.affle.com Contact Us Investor Relations Contact investor.relations@affle.com