Ann: Record growth in Q3 FY20, page-45

Hi,

This is correct.

None of the BNPL companies make currently any money. All BNPL company investing heavily in gaining global market share.

It is a new frontier and size matters. It would not make any sense to focus on profitability at the moment.

This is exactly the same what happened over the last decade in the food aggregator industry.

Funding costs are as low as they have ever been for businesses so it makes total sense to grow as aggressive as possible.

K