Monika Alcobev Limited IPO

1. Our industry operates under a complex licensing and excise framework, which is subject to evolving laws, rules, and regulations, as well as legal uncertainties, including potential unfavorable interpretations of corporate and tax laws.

2. Dependence on exclusive selling rights and potential changes in market rights of our Company may adversely affect our business.

3. We have long-standing relationship with our suppliers for the spirits and wines that we distribute and market. An increase in the cost of, or a shortfall in the availability of such spirits and wines or our inability to leverage existing or new relationships with our suppliers could have an adverse effect on our business and results of operations.

4. We are substantially dependent on the sales of our whisky and tequila which generated 72.39%, 65.77%, 59.33% and 49.58% of our revenue from operations from nine month period ended December 31, 2024, Fiscals 2024, 2023 and 2022. Any reduction in sales of these products could have material adverse effect on our business, financial condition, results of operations and prospects.

5. Our success relies on our ability to strengthen and grow our brand portfolio, which is key to driving consumer recognition and business growth.

6. Any supply disruptions in our products could adversely and materially affect our business.

7. Consumer tastes and preferences are subject to change and shifts in these preferences could lead to reduced demand for our products. If we fail to adapt our offerings to evolving market trends, consumer preferences, and spending behaviours, we may experience a decline in sales.

8. The loss of our key customers or significant reduction in sales of, or demand for our products from our significant customers may adversely affect our business, results of operations and financial condition.

9. We are exposed to foreign exchange risks, which could negatively impact our financial performance and results of operations.

10. We do not have a formal hedging policy and accordingly, face foreign exchange risks that could adversely affect our results of operations and cash flows.