Dear Shareholders, Members of the Board, and Investors,

It is my privilege to address you as the Chairman of JHS Svendgaard Retail Ventures Limited. Our journey has been one of growth, transformation, and ambition and your company is now a fully evolved dynamic retail enterprise. We owe our roots to JHS Svendgaard Laboratories Limited, when its foundation was laid down in 2004.

Since our inception, we have remained committed to redefining the retail experience in India. We identified a growing need for quality, accessible products in high-traffic locations, and today, I am proud to say we are making significant strides towards fulfilling this vision.

Our core business strategy has been focused on getting spaces at the most niche locations in the retail market across the country and establishing a strong presence. Airports in this era are becoming more than just transit points; they are emerging as vibrant commercial hubs where travelers seek unique shopping experiences. Recognizing this trend, we have strategically positioned ourselves to cater to the needs of this growing market segment.

Our presence at key hubs, including all the three terminals at Indira Gandhi International Airport, Delhi, Prayagraj Airport and Hyderabad Airport and soon coming up with another store at Terminal

1, Delhi, is not just a reflection of our growing footprint, but also of our commitment to providing superior products and services to millions of travelers.

The company is tying up with reputed well-known brands in the country and these stores have not only enhanced the brand visibility for our clients but have also contributed significantly to our revenue streams. Our commitment to providing high-quality products and an exceptional customer experience has resonated well with travelers, and this is reflected in the positive feedback we have received.

Our team is actively exploring new opportunities to enter into strategic partnerships and collaborations that will allow us to bring our offerings to a wider audience. Additionally, we are continuously innovating new stores lines and customer engagement strategies to ensure that we remain at the forefront of the retail industry.

Our transformation journeys this year, we also witnessed a historic transformation. The Composite Scheme of Arrangement for Demerger and Amalgamation between JHS Svendgaard Laboratories Limited and JHS Svendgaard Retail Ventures Private Limited was sanctioned by the Hon'ble NCLT on 10th August 2023. This paved the way for our company's transition into a Public Limited Company on 26th December 2023, officially recognized by the Registrar of Companies - NCT of Delhi and Haryana.

A significant milestone was achieved on 26th June 2024, when JHS Svendgaard Retail Ventures Limited got listed on both the Bombay Stock Exchange and National Stock Exchange of India. This marks the beginning of an exciting new chapter for us, and I extend my heartfelt gratitude to our shareholders, investors, and partners who have supported us in this journey.

Looking ahead as we look towards the future, our focus will remain on expanding our retail network, enhancing our customer experience, and delivering consistent value to our stakeholders. We are confident that our strong foundation, combined with our innovative approach, will continue to drive our success in the coming years.

Thank you for your trust, confidence, and unwavering support. Together, we will achieve greater milestones in the years ahead.

Warm regards,