and rural areas, and the customer would secure additional revenue streams from transaction fees. We equip the
customer with the appropriate technology, run the same on its behalf and participate in the revenue generation
model. Our agency banking contracts have terms ranging from three to five years, and we are paid for our
services on a fixed fee basis or based on the value of transactions.

Banking Automation Solutions

Our Banking Automation Solutions segment covers sale of ATMs and CRMs, currency technology products and
self-service terminals and related services and upgrades.

Products

We sell ATMs, cash dispensers, CRMs and other self-service terminals, such as check deposit kiosks and multi-
functional information kiosks. We also sell our own brand of banking hardware products, such as note sorters.
We sell our Banking Automation Solutions products to banks and financial institutions.

Our banking automation product offerings include:

e ATMs and Cash Dispensers: ATMs and cash dispensers enable customers to access their bank accounts
to make cash withdrawals (or credit card cash advances), fund transfers, check account balances and
print statements. ATMs can also be used for other VAS, which vary from bank to bank. In line with the
dynamic needs of the banking industry, we offer ATM hardware and software solutions in India with
varying designs, cash management and dispensing configurations, security solutions, such as finger
print sensors, and software and hardware. In 2015, through cooperation agreements with Wincor
Nixdorf (now Diebold Nixdorf), we began assembling ATMs and cash dispensers in our Daman
facility. We also develop sites, supply related assets and carry out site interior construction work. Since
we signed the cooperation agreements with Diebold Nixdorf and as of August 31, 2021, we had
assembled 14,558 ATMs.

@ CRMs: CRMs allow a bank’s customer to make deposits which are sorted into various denominations
and are used for cash dispensing. All successful transactions are instantly credited and clients are
issued an advice slip as a confirmation of the transaction. CRMs lower the cash handling cost by
recycling the deposited cash and optimizing the cash replenishment and pick-up process.

For the five months ended August 31, 2021 and the financial years 2021, 2020 and 2019, we sold 503, 1,497,
2,327 and 3,486 ATMs and CRMs, respectively.

As of August 31, 2021, we had installed approximately 72,000 ATMs and CRMs. The following map shows the
locations of our 25,092 ATMs and CRMs under service in India as of August 31, 2021:

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