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Company Presentation

March 2016

1

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Business Overview

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Company Overview

3

Notes

1. Unique visitors are considered across various mediums – Voice, PC Internet, Mobile Internet – these may not necessarily be mutually exclusive.

2. As on 31 March, 2016

India’s only Search Plus engine (Search & Transact)

Multi platform search engine

High rates of direct, mobile and repeat traffic

3,68,800 active paid campaigns(2)

60.6MM reviews and ratings(2)

71.3MM unique visitors in Q4FY16 (1)

16.3MM total business listings(2)

Profitable business model

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Justdial Everywhere: Connecting With Users Anytime, Anywhere

PC Internet Mobile Internet & Apps Voice/SMS

User friendly features

– Predictive auto-suggest

– Maps, directions, operating hours, logos, pictures, videos

– Ratings and reviews

Search by company or category or product

Popular category searches

Location-based search service

Developed Android, iOS, Windows apps

8888888888 Operator assisted Hotline number

across India

24 hours a day, 7 days a week

Multi-lingual support

Company/ category/product searches

4

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User Community and Reviews Drive Engagement

Reviews and Ratings

Millions

5

Special focus on Friend’s Reviews & Ratings

30.3

33.7

37.1

41.3

45.1

48.4

51 53.1

55.3

58.3 60.6

0

10

20

30

40

50

60

70

Sept'13 Dec'13 Mar'14 June'14 Sept'14 Dec'14 Mar'15 June'15 Sept'15 Dec'15 Mar'16

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Voice, PC and Mobile – Unique Visitors

Total Unique Visitors are considered across various mediums – Voice, PC Internet, Mobile Internet – these may not

necessarily be mutually exclusive.

Unique Visitors

25.2 25.8 27.6 27.3 24.3 24.8

10.7 10.0 11.3 10.9

10.6 9.7

27.3 30.9

36.3 37.7

36.6 36.8

0.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

80.00

Q3 FY15 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16

Web Voice Mobile

63.2

75.2

66.7

71.5

YOY Growth: 7%

75.9

71.3

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Attractive Value Proposition for Local SMEs

Paid Campaigns

‘000

Total Business Listings

Million

7

5.8

7.2

9.1

11.8

15.0

16.3

0

2

4

6

8

10

12

14

16

18

FY11 FY12 FY13 FY14 FY15 FY16

120

171

206

262

331

369

0

50

100

150

200

250

300

350

400

FY11 FY12 FY13 FY14 FY15 FY16

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Charting New Heights - Important updates during the quarter

8

• Launch of JD Omni

• Important Updates in the Travel vertical

- Cab Booking (Uber & Ola integration)

- Train Tickets Booking (IRCTC integration)

• Movie Ticket Booking (new screens added)

• Loans & Insurance verticals

• UI enhanced for Search Plus verticals

(Table Reservations/ Grocery/ Order Food)

• New version of the Android App – Global

• One-Tap Payment

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Engagement Driven Through Innovative Mobile Applications

Justdial –Smart Phone Application With A Unique Social Interface

Tag

Friends

Search &

Transact

Rate & Review

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Search Plus – A natural extension of our core search business

10

Leveraging The Three Cornerstones of Our Success to Do More

Enabling Best Way to Discover

Information About Each Other

Trusted Strong Brand

Established

Relationships

with Local SMEs

Across India

Large, Loyal

User Community

“Three Clicks to Find”

Enabling Hyper Local Commerce

and Transactions

Trusted Strong Brand

Established

Relationships

with Local SMEs

Across India

Large, Loyal

User Community

Enabling “Offline to Online” Shift

“Three Clicks to Transact”

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Search Plus Services

11

• Order Food

• Book A Table

• Book A Doctor’s Appointment

• Order Grocery

• Order Medicines/ Pharmacy

• Order Books

• Diagnostics

• Shopfront / Shop Online

• Flight Tickets

• Order Flowers

• Laundry Pick-up

• Courier Pick-up

• Car Servicing

• AC Servicing

• Water Purifier Servicing

• Mineral Water Order

• Bus Tickets

• Train Tickets

• Schedule a Test Drive

• Book a Cab

• Hotels

• Movie Tickets

• Events

• Recharge & Bill Payments

• Loans

• Spas & Salons

• Insurance

• Tyres & Batteries*

• On Demand Services*

• Automobiles*

• Jobs*

• International SIM cards*

* New verticals added

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JD Omni – User Interface

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Products and Services – Search Plus

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Options of Wallets for Payment

Book A Table Shop Online

Order Grocery

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Products and Services – Search Plus

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Book Train Tickets Insurance

Automobile Loans

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Search Plus: Win-Win for Users and SMEs

15

• Enable O2O transformation

• App to better manage business

• Shop front for customer

acquisition in local markets

• Enhance trust online

(via JD guarantee)

• Leverage existing hyper local

delivery network

• Choose vendor in local

neighborhood for product of choice

• Convenience of ‘master app’,

look no further

• Personalized door-step

service experience

• Real-time price discovery

• Increased engagement and stickiness

of users

• Increase in monetization streams

from SMEs

• Natural extension of core

search business

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The Search Plus Model

16

New Revenue Streams Key Metrics to Track in Near Term

User engagement

Vendor adoption and

penetration

No. of listings in each

segment

Transaction fee

Vendor app usage fee

Shopfront rentals

Display ad revenue

Subscription fee from Vendors

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Financial Overview

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We have an Efficient and Profitable Business Model

Quarter ended March 31, 2016 highlights:

► Total operating revenue: INR 1,796 MM

► Adjusted Operating EBITDA margin at 25% for quarter ending March 31, 2016*

► PAT margin at 18% for quarter ending March 31, 2016

18

Quarterly numbers are limited review, others are restated financials

FY2011 FY2016

Paid Campaigns 120,200 3,68,800

Operating Revenue INR 1,839 MM INR 6,908 MM

Operating EBIDTA INR 455 MM INR 1,958 MM*

Operating EBIDTA Margin 25% 28%*

PAT INR 289 MM INR 1,418 MM

PAT Margin 15% 19%

* Note: Operating EBIDTA for FY16 is adjusted for ESOP expenses and one time spends

* Note: Adjusted Operating EBIDTA is after one-time expenses of Rs. 0.78crore during the quarter

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Rapid Revenue Growth

► Paid Advertisers primarily across 11 large Indian cities

(Contributes substantially to all of the company’s campaigns)

► Paid Advertisers pay fixed monthly or annual fees to run

search-led advertising campaigns for their businesses on

Justdial’s platform

► Various types of premium memberships: Platinum, Diamond,

Gold and non-premium packages determine priority of

placement in search results

– Get direct leads to consumers (actual buyers)

– Paid in advance

– Automatic renewal

► Justdial also runs multiple city campaigns for pan-India

customers

► 3,544 tele-sales executives and 1,327 feet on street selling to

SMEs and 1,911 Just Dial Ambassadors (JDAs)

Key Business Model Attributes Operating Revenue

INR Mn

19

1796

2594

3577

4592

5883

6852

43

27

51

21

15

0

1000

2000

3000

4000

5000

6000

7000

8000

FY11 FY12 FY13 FY14 FY15 FY16

Search Other Revenue

56

1839

2621

3628

4613

5898

YOY growth: 17 %

6908

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Margin Expansion and Operating Leverage

Key Expenses as a % of Operating Revenue Key Drivers

►More paid campaigns

►Improved package pricings, increasing and

upgrading contracts

►Deepen and broaden SME coverage

►New categories, new products and services

►Increasing PC Internet and mobile internet

usage volume

►Increased brand awareness

20

Op. EBIDTA Margins

31% | 28%*

52% 51% 50% 50% 52% 55%

18% 19% 18% 16%

16%

17%

5% 5% 4%

4% 4%

3%

4% 3% 4%

4% 4%

5%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

FY11 FY12 FY13 FY14 FY15 FY16

* Note: Operating EBIDTA for FY16 is adjusted for ESOP expenses and one time spends

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Driving Profitability Growth

Profit after Tax (PAT)

INR Mn

21

PAT MARGINS: 22% | 19%

288

506

685

1206

1389 1418

0

200

400

600

800

1000

1200

1400

1600

FY11 FY12 FY13 FY14 FY15 FY16

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Growing Cash Flows and Return on Capital

Cash Flow from Operations

INR Mn

359

600

9571,023

1,330

1,846

1,492

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

FY10 FY11 FY12 FY 13 FY 14 FY 15 FY16

Return on Net Worth (RoNW)

35% 36%

50%

26% 25%23%

21%

0%

10%

20%

30%

40%

50%

60%

FY10 FY11 FY12 FY13 FY 14 FY15 FY16

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Key Strengths

Attractive Value Proposition For Local SMEs

Experience and Expertise in Local Indian Markets

First Mover Advantage in the Indian Local Search Market

Strong Brand Recognition

Advanced and Scalable Technology Platform

An Efficient and Profitable Business Model

23