11.

12.

Our Group Companies are not party to any pending litigation proceedings which may have a material
impact on our Company.

In relation to such outstanding litigation matters involving our Company, Directors, Subsidiaries and
Promoter, while the amounts and interests levied thereon to the extent ascertainable and involved in these
matters have been mentioned above, the amounts and interests involved in many pending litigations are
not ascertainable or quantifiable and are hence not disclosed. Further, our Company does not consider the
entire amount involved or unquantifiable amount in respect of outstanding litigations to be a present or a
potential liability and hence contingency for the entire amount has not been provided for in the books of
our Company. For further details of such outstanding litigation against our Company, Directors,
Subsidiaries and Promoter, see “Outstanding Litigation and Material Developments” on page 358.

Such proceedings could divert management time and attention, and consume financial resources in their
defence or prosecution. Further, an adverse outcome in any of these proceedings may affect our
reputation, standing and future business, and could have an adverse effect on our business, prospects,
results of operations and financial condition. We cannot assure you that any of these proceedings will be
decided in favour of our Company, Directors, Subsidiaries or Promoter, or that no further liability will
arise out of these proceedings.

Any adverse development or discontinuance of our relationship with Diebold Nixdorf (together with its
affiliates, “Diebold”), which contributes substantially to our business, could have an adverse effect on
our business, results of operations, cash flows and financial condition.

We entered into two cooperation agreements with Diebold Nixdorf Pte. Ltd. (together with its affiliates,
“Diebold”) on July 15, 2015, pursuant to which we started manufacturing our own cash dispensers in
India. Under the SKD Cooperation Agreement, if we fail to procure the specified minimum number of
units of semi-knock down kits by the end of each of calendar years 2021 and 2022, we must pay
liquidated damages of US$92.0 per shortfall unit. Although there have been no past instances of
payments of liquidated damages by us to Diebold Nixdorf in the last three financial years, we cannot
assure you that we will not be required to make such payments in the future. For further details of the
cooperation agreements with Diebold, please refer to “Our Business — Description of our Business — Our
Suppliers and Technology Partners” on page 173. Further, Diebold may terminate the SKD Cooperation
Agreement if we breach any provision thereof, or if steps are taken to wind up a party to the SKD
Cooperation Agreement. If Diebold terminates or ceases its relationship with us, supplies its products
either directly or to other parties, or appoints another company to assemble its products within India, we
may lose some or all of our market share and our business, results of operations, cash flows and financial
condition could be adversely affected. Further, the termination, non-renewal or non-extension of our
arrangement with Diebold may cause us to default on our obligations under our various customer
contracts. This may make us liable for breach of contract and damages, and expose us to various legal
proceedings, which could have an adverse effect on our business, results of operations, cash flows and
financial condition.

Any changes in interchange fees by the National Payments Corporation of India (NPCI), or through
potential regulatory changes or otherwise, may have an adverse effect on our business, results of
operations, cash flows and financial condition.

Interchange fees, which are the fees charged by one bank for usage of another bank’s ATM card on its
ATM machines, are set by the NPCI, an organisation established and regulated by the RBI, in
consultation with the Indian Banking Association, which operates for the benefit of its member banks
and which has been authorized by the RBI in this respect. Banks that outsource their ATM operations to
companies such as ours typically pay on a per transaction basis to ATM operators. Such per transaction
fee is dependent on the interchange fee, as the banks would typically consider such amount when they
negotiate the fee that they would be required to pay an external ATM operator. Pursuant to a directive
from the RBI dated June 10, 2021, there was an increase in interchange rates for ATM transactions
effective August 1, 2021. Further, various electronic funds transfer networks through which the
transactions conducted on our devices are routed may also vary the interchange fee with respect to
various payment services offered by us.

If there were any decreases in the interchange fee required to be paid by the banks, the transaction fee
that banks are willing to pay us may decline as banks may seek to reduce the amount that is paid to ATM
operators such as us. Similarly, if some of the networks through which our payment transactions are
routed were to reduce the interchange rates paid to us or increase their transaction fees charged to us for
routing transactions across their network, our revenues could decline and our future transaction costs
could increase. Although there were no instances of decrease in interchange fees in the last three

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