Greetings from

MORE RETAIL LIMITED (“MRL”)!

At MRL, we are building India’s most customer obsessed business with the world’s best omni-channel food and grocery
experience - and all of this on a massive scale.

In 2019, India’s GDP reached USD 2.8 trillion and the retail industry is ~30% of this (expected growth of the retail industry -
US$840 billion in 2020 to US$1.2 trillion by 2025). Food & Grocery constitutes around two-thirds of this massive retail
opportunity (US$560 billion).

MRL is the pioneer in omni-channel Food & Grocery Retail in India and is pursuing its mission to be Indian consumers’ most
preferred choice for food and grocery needs.

Due to the stronger customer value proposition of organized retail, there are tailwinds for this segment of retail to grow
strongly - as high as a10-fold growth in the coming decade. At MRL, we aim to achieve ~10x growth in the next 6-7 years.

MRL is uniquely positioned with a presence in all three formats (Supermarket (SM), Hypermarket (HM) and e-Grocery with
Amazon Fresh) catering to all the shopping missions of customers. In addition, MRL’s special business partnership with
Amazon India is set to make it the fastest growing omni-channel food & grocery retailer in India.

MRL’s culture driven by 7 key leadership principles and values are its biggest strength, namely Customer obsession,
Innovation, Frugality, Growing talent, Grit, Collaboration and Integrity.

We are seeking to add individuals of exceptional talent and drive to our team for whom the below values are an integral part
of their approach to business.

Customer Obsession: More leaders understand customer’s evolving needs and aspirations, obsess 24X7 on improving
customer’s experience, and vigorously advocate their needs within the organization.

Innovation: More leaders display curiosity, encourage experimentation and exemplify innovative thinking in creating
better and disruptive customer solutions that are sustainable and environmentally safe.

Frugality: More leaders simplify things, are effective and hence achieve lowest cost per unit in most activities, and
repeatedly deliver more with less.

Growing Talent: More leaders identify, attract, nurture, promote and retain the very best of talent and empower their
teams | they gauge their own success basis the talent they have groomed and built. More leaders create a culture of
meritocracy and accelerated leadership development.

Grit: More leaders think audaciously and possess unusual resilience. They learn and improve from setbacks and failures
and keep going while rallying everyone in the team until the goal is accomplished. They combine sharp analysis and
sound judgement and value speed in decision making with calculated risks.

Collaboration: More leaders display a firm-first approach and firmly believe that great teams outdo group of great
individuals any day | they drive cross-functional collaboration encouraging constant introspection and conflict resolution.

Integrity: More leaders pursue highest standards of objectivity, honesty and transparency | they create a trusting
environment where everyone speaks up their mind resulting in everyone committing to the best idea | they always do the
right thing even when no one is looking

The above leadership principles and values are the bedrock of our culture. At MRL, one would be exposed to numerous
opportunities that are challenging, fast-paced, that will demand exceptional commitment and require tremendous prob-
lem-solving ability, all of which will lead to a professionally satisfying and rewarding journey.

We look forward to our interaction for mutual fit and explore a potential role as we pursue our journey to make MRL
amongst the fastest growing companies in the country with best in class operating and financial metrics.

With warm regards and best wishes,

Vinod Nambiar Sumeet Narang

Managing Director and Board Member Chairman