We have audited the accompanying Standalone Ind
AS Financial Statements of Lenskart Solution Limited
(formerly known as Lenskart Solution Private Limited)
(“the Company”), which comprise the Balance Sheet
as at March 31,2026, the Statement of Profit and Loss,
including the statement of Other Comprehensive
Income, the Cash Flow Statement and the Statement
of Changes in Equity for the year then ended, and
notes to the Standalone Ind AS Financial Statements,
including a summary of material accounting policies
and other explanatory information.

In our opinion and to the best of our information
and according to the explanations given to us, the
aforesaid Standalone Ind AS Financial Statements
give the information required by the Companies
Act, 2013, as amended (“the Act”) in the manner so
required and give a true and fair view in conformity
with the accounting principles generally accepted
in India, of the state of affairs of the Company
as at March 31, 2026, its profit including other
comprehensive income, its cash flows and the
changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the Standalone Ind
AS Financial Statements in accordance with the
Standards on Auditing (SAs), as specified under
section 143(10) of the Act. Our responsibilities under
those Standards are further described in the ‘Auditor's
Responsibilities for the Audit of the Standalone Ind AS
Financial Statements' section of our report. We are

independent of the Company in accordance with the
‘Code of Ethics' issued by the Institute of Chartered
Accountants of India together with the ethical
requirements that are relevant to our audit of the
Standalone Ind AS Financial Statements under the
provisions of the Act and the Rules thereunder, and
we have fulfilled our other ethical responsibilities in
accordance with these requirements and the Code
of Ethics. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a
basis for our audit opinion on the Standalone Ind AS
Financial Statements.

Key Audit Matters

Key audit matters are those matters that, in our
professional judgment, were of most significance
in our audit of the Standalone Ind AS Financial
Statements for the financial year ended March 31,
2026. These matters were addressed in the context
of our audit of the Standalone Ind AS Financial
Statements as a whole, and in forming our opinion
thereon, and we do not provide a separate opinion on
these matters. For each matter below, our description
of how our audit addressed the matter is provided
in that context.

We have determined the matters described below to
be the key audit matters to be communicated in our
report. We have fulfilled the responsibilities described
in the Auditor's responsibilities for the audit of the
Standalone Ind AS Financial Statements section of
our report, including in relation to these matters.
Accordingly, our audit included the performance of
procedures designed to respond to our assessment of
the risks of material misstatement of the Standalone
Ind AS Financial Statements. The results of our audit
procedures, including the procedures performed to
address the matters below, provide the basis for our
audit opinion on the accompanying Standalone Ind
AS Financial Statements.

Information Other than the Standalone
Ind AS Financial Statements and
Auditor's Report Thereon

The Company's Board of Directors is responsible
for the other information. The other information
comprises the information included in the Annual
report, but does not include the Standalone Ind AS
Financial Statements and our auditor's report thereon.

Our opinion on the Standalone Ind AS Financial
Statements does not cover the other information
and we do not express any form of assurance
conclusion thereon.

In connection with our audit of the Standalone Ind AS
Financial Statements, our responsibility is to read the
other information and, in doing so, consider whether
such other information is materially inconsistent
with the Standalone Ind AS Financial Statements or

our knowledge obtained in the audit or otherwise
appears to be materially misstated. If, based on the
work we have performed, we conclude that there is
a material misstatement of this other information, we
are required to report that fact. We have nothing to
report in this regard.

Responsibilities of Management
for the Standalone Ind AS Financial
Statements

The Company's Board of Directors is responsible
for the matters stated in section 134(5) of the Act
with respect to the preparation of these Standalone
Ind AS Financial Statements that give a true and fair
view of the financial position, financial performance
including other comprehensive income, cash flows
and changes in equity of the Company in accordance
with the accounting principles generally accepted
in India, including the Indian Accounting Standards

(Ind AS) specified under section 133 of the Act read
with the Companies (Indian Accounting Standards)
Rules, 2015, as amended. This responsibility also
includes maintenance of adequate accounting
records in accordance with the provisions of the
Act for safeguarding of the assets of the Company
and for preventing and detecting frauds and
other irregularities; selection and application of
appropriate accounting policies; making judgments
and estimates that are reasonable and prudent;
and the design, implementation and maintenance
of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to
the preparation and presentation of the Standalone
Ind AS Financial Statements that give a true and
fair view and are free from material misstatement,
whether due to fraud or error.

In preparing the Standalone Ind AS Financial
Statements, management is responsible for assessing
the Company's ability to continue as a going concern,
disclosing, as applicable, matters related to going
concern and using the going concern basis of
accounting unless management either intends to
liquidate the Company or to cease operations, or has
no realistic alternative but to do so.

Those Board of Directors are also responsible for
overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit
of the Standalone Ind AS Financial
Statements

Our objectives are to obtain reasonable assurance
about whether the Standalone Ind AS Financial
Statements as a whole are free from material
misstatement, whether due to fraud or error, and to
issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in
accordance with SAs will always detect a material
misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if,
individually or in the aggregate, they could reasonably
be expected to influence the economic decisions of
users taken on the basis of these Standalone Ind AS
Financial Statements.

As part of an audit in accordance with SAs, we exercise
professional judgment and maintain professional
skepticism throughout the audit. We also:

• Identify and assess the risks of material
misstatement of the Standalone Ind AS Financial
Statements, whether due to fraud or error,
design and perform audit procedures responsive

to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis
for our opinion. The risk of not detecting a
material misstatement resulting from fraud
is higher than for one resulting from error, as
fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of
internal control.

^• Obtain an understanding of internal control
relevant to the audit in order to design audit
procedures that are appropriate in the
circumstances. Under section 143(3)(i) of the
Act, we are also responsible for expressing our
opinion on whether the Company has adequate
internal financial controls with reference to
Standalone Ind AS Financial Statements in place
and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting
policies used and the reasonableness of
accounting estimates and related disclosures
made by management.

^• Conclude on the appropriateness of
management's use of the going concern basis
of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists
related to events or conditions that may cast
significant doubt on the Company's ability to
continue as a going concern. If we conclude that
a material uncertainty exists, we are required to
draw attention in our auditor's report to the related
disclosures in the Standalone Ind AS Financial
Statements or, if such disclosures are inadequate,
to modify our opinion. Our conclusions are based
on the audit evidence obtained up to the date of
our auditor's report. However, future events or
conditions may cause the Company to cease to
continue as a going concern.

• Evaluate the overall presentation, structure
and content of the Standalone Ind AS Financial
Statements, including the disclosures, and
whether the Standalone Ind AS Financial
Statements represent the underlying
transactions and events in a manner that achieves
fair presentation.

We communicate with those charged with
governance regarding, among other matters, the
planned scope and timing of the audit and significant
audit findings, including any significant deficiencies in
internal control that we identify during our audit.

We also provide those charged with governance with
a statement that we have complied with relevant
ethical requirements regarding independence, and

to communicate with them all relationships and
other matters that may reasonably be thought to
bear on our independence, and where applicable,
related safeguards.

From the matters communicated with those
charged with governance, we determine those
matters that were of most significance in the audit
of the Standalone Ind AS Financial Statements
for the financial year ended March 31, 2026 and
are therefore the key audit matters. We describe
these matters in our auditor's report unless law or
regulation precludes public disclosure about the
matter or when, in extremely rare circumstances, we
determine that a matter should not be communicated
in our report because the adverse consequences of
doing so would reasonably be expected to outweigh
the public interest benefits of such communication.

Report on Other Legal and Regulatory
Requirements

1. As required by the Companies (Auditor's Report)
Order, 2020 (“the Order”), issued by the Central
Government of India in terms of sub-section
(11) of section 143 of the Act, we give in the
“Annexure 1” a statement on the matters
specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act, we
report, to the extent applicable, that:

(a) We have sought and obtained all the
information and explanations which to the
best of our knowledge and belief were
necessary for the purposes of our audit;

(b) In our opinion, proper books of account
as required by law have been kept by
the Company so far as it appears from
our examination of those books except
with respect to the matters stated in the
paragraph 2(i)(vi) below on reporting
under Rule 11(g).

(c) The Balance Sheet, the Statement of Profit
and Loss including the Statement of Other
Comprehensive Income, the Cash Flow
Statement and Statement of Changes
in Equity dealt with by this Report are in
agreement with the books of account;

(d) In our opinion, the aforesaid Standalone
Ind AS Financial Statements comply
with the Accounting Standards specified
under Section 133 of the Act, read with
Companies (Indian Accounting Standards)
Rules, 2015, as amended;

(e) On the basis of the written representations
received from the directors as on
March 31, 2026 taken on record by the
Board of Directors, none of the directors
is disqualified as on March 31, 2026 from
being appointed as a director in terms of
Section 164 (2) of the Act;

(f) The modification relating to the maintenance
of accounts and other matters connected
therewith are as stated in paragraph (b)
above on reporting under section 143(3)(b)
and serial number (vi) of paragraph (i) below
on reporting under Rule 11(g).

(g) With respect to the adequacy of the internal
financial controls with reference to these
Standalone Ind AS Financial Statements and
the operating effectiveness of such controls,
refer to our separate Report in “Annexure 2”
to this report;

(h) In our opinion, the managerial remuneration
for the year ended March 31, 2026 has
been paid / provided by the Company to its
directors in accordance with the provisions of
section 197 read with Schedule V to the Act;

(i) With respect to the other matters to
be included in the Auditor's Report in
accordance with Rule 11 of the Companies
(Audit and Auditors) Rules, 2014, as
amended in our opinion and to the best
of our information and according to the
explanations given to us:

i. The Company has disclosed the
impact of pending litigations on its
financial position in its Standalone
Ind AS Financial Statements - Refer
note 36 to the Standalone Ind AS
Financial Statements;

ii. The Company did not have any
long-term contracts including derivative
contracts for which there were any
material foreseeable losses;

iii. There were no amounts which were
required to be transferred to the
Investor Education and Protection Fund
by the Company.

iv. a) The management has represented
that, to the best of its knowledge and
belief, other than as disclosed in the
note 45 (iv) to the Standalone Ind AS
Financial Statements, no funds have
been advanced or loaned or invested
(either from borrowed funds or share

premium or any other sources or kind
of funds) by the Company to or in any
other person(s) or entity(ies), including
foreign entities (“Intermediaries”), with
the understanding, whether recorded
in writing or otherwise, that the
Intermediary shall, whether, directly or
indirectly lend or invest in other persons
or entities identified in any manner
whatsoever by or on behalf of the
Company (“Ultimate Beneficiaries”) or
provide any guarantee, security or the like
on behalf of the Ultimate Beneficiaries;

b) The management has represented
that, to the best of its knowledge and
belief, no funds have been received
by the Company from any person(s)
or entity(ies), including foreign
entities (“Funding Parties”), with the
understanding, whether recorded in
writing or otherwise, that the Company
shall, whether, directly or indirectly, lend
or invest in other persons or entities
identified in any manner whatsoever
by or on behalf of the Funding Party
(“Ultimate Beneficiaries”) or provide any
guarantee, security or the like on behalf
of the Ultimate Beneficiaries; and

c) Based on such audit procedures
performed that have been considered
reasonable and appropriate in the
circumstances, nothing has come
to our notice that has caused us to
believe that the representations under
sub-clause (a) and (b) contain any
material misstatement.

v. No dividend has been declared or paid
during the year by the Company.

vi. Based on our examination which included
test checks, the Company have used
multiple accounting software including third
party applications for maintaining its books
of account which has a feature of recording
audit trail (edit log) facility and the same has
operated throughout the year for all relevant
transactions recorded in the software except,
as explained in note 47 of the Standalone
Ind AS Financial Statements, in respect of
main accounting software operated by third
party, in the absence of control around audit
trail feature at database level in the service
organization control report, we are unable to
comment on whether audit trail feature was
enabled and operated throughout the year.

Further, during the course of our audit we
did not come across any instance of audit
trail feature being tampered with, in respect
of accounting softwares including third
party applications to the extent enabled.
Additionally, the audit trail of relevant prior
years has been preserved by the company
as per the statutory requirements for record
retention, to the extent it was enabled and
recorded in those respective years, except
with respect to main accounting software,
in the absence of controls in the service
organization controls, we are unable to
comment whether the audit trail has been
preserved by the company as per the
statutory requirements for record retention.

For S.R. Batliboi & Associates LLP

Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004

per Yogesh Midha

Partner

Membership Number: 094941

UDIN: 26094941SOYFGW7868

Place of Signature: Michigan, USA

Date: May 20, 2026