more than 16,000 petroleum outlets with 28,986 terminals in India, as of March 31, 2021 (Source: Ken
Payments Report). We also pioneered IPS with OMCs (Source: Ken Payments Report). For the five months
ended August 31, 2021 and the financial years 2021, 2020 and 2019, we derived 95.9%, 95.6%, 95.5% and
96.1%, respectively, of our revenues from operations in India where our business started, although we have
expanded internationally to offer automation and payment solutions to banks and financial institutions in other
Asian countries comprising Sri Lanka, Singapore, Cambodia, Philippines and Indonesia. Our total revenue from
operations was 2 7,534.00 million, 217,589.44 million, 718,004.43 million and 218,057.42 million for the five
months ended August 31, 2021 and the financial years 2021, 2020 and 2019, respectively.

We started providing banking automation solutions in India in 2004. We deployed products from international
solution providers such as Diebold Nixdorf and established our own country-wide service infrastructure and
automation solutions expertise to provide related services. Beginning in 2009, we leveraged our banking
automation solutions expertise and service reach to offer ATM outsourcing and managed services by, among
other things, entering into two cooperation agreements with Diebold Nixdorf for banking and retail products. As:
part of our strategy to strengthen our presence in the cash value chain, offer an integrated payments platform and
improve our operational efficiencies, we commenced offering transaction switching services in 2011 and cash
management services in 2012. In 2014, we expanded our offerings into digital payment solutions, enhancing our
integrated digital platform and Software-as-a-Service (“SaaS”) capabilities. In 2016, we also entered into an
alliance with ACI Worldwide (“ACI”), a leading international payments solution provider, which has further
strengthened our value proposition to customers.

We operate our business in the following segments:
e Payment Solutions;
e Banking Automation Solutions; and
Other Automation Solutions (for customers in the retail, petroleum and colour sectors).

Our Payment Solutions segment comprises ATM and CRM outsourcing and managed services, cash
management services, iCDs, digital payment services which include toll and transit solutions, Fastlane,
transaction switching services, services through POS machines and agency banking. Our customers in the
Payment Solutions segment include ICICI Bank Limited, Axis Bank Limited, HDFC Bank Limited and Federal
Bank Limited.

e  Inour ATM and CRM outsourcing and managed services businesses, we are responsible for the end-to-
end management of ATMs and CRMs, starting from site identification and development, followed by
machine deployment, maintenance and management on behalf of our customers. While we own the
ATMs and CRMs in our outsourcing services business, ownership of ATMs and CRMs remains with
the customers themselves under our managed services business. As of August 31, 2021, our portfolio
consisted of 14,099 ATMs and CRMs under our outsourcing business and 19,161 ATMs and CRMs
under our managed services business in India. We also provide outsourcing solutions for 1,273 ATM
and kiosks in Sri Lanka, as of August 31, 2021.

e The cash management services of our subsidiary, SVIL, build on our ATM outsourcing and managed
services businesses, and include cash replenishment, cash pick-up, cash-in-transit (“CIT”), cash
vaulting and cash processing services for ATMs managed by us and by other operators. As of August
31, 2021, we provided cash management services to 46,214 ATMs through a fleet of 2,513 cash vans
including 267 dedicated cash vans to banks, and 475 vaults and spoke locations, covering
approximately 1,860 cities and towns in India. Our subsidiary, SVIL, was the second largest cash
management company in India, in terms of revenue from cash management and number of ATMs
replenished, as of March 31, 2021 (Source: Ken ATM Report). SVIL is the only cash management
company that has followed Ministry of Home Affairs (“MHA”) guidelines dated August 8, 2018 and
RBI guidelines dated April 6, 2018 on a pan-India basis (Source: Ken ATM Report). We have also
implemented cassette swaps for our outsourcing services business. One of our major customers in cash
management services is BTI India Payments Private Limited and Hitachi Payment Services Private
Limited.

e To enhance our digital portfolio and address new market segments, we commenced our operations in
merchant solutions. Our merchant services include device-based and device-less payment solutions,

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