From India To Nasdaq: Roadzen
Secures Nasdaq Listing With $683
Million Equity Value

NEWS PROVIDED BYRoadzen 22 Sep, 2023, 04:00 ETRoadzen is expected to start trading on Nasdaq today under the tickers "RDZN" and"RDZNW" for its ordinary shares and warrants, respectively.
Roadzen's mission is to transform the insurance experience for drivers around theworld by giving them lower premiums, on-road safety and seamless claims processing.

NEW YORK, Sept. 22, 2023 /PRNewswire/ -- Roadzen, a global insurance technology
company on a mission to transform global auto insurance powered by advanced AI,announced today that it has completed its previously announced business combination
with Vahanna Tech Edge Acquisition I Corp., a special purpose acquisition company, which
was approved at the extraordinary general meeting of Vahanna shareholders on August 25,2023 (the "Business Combination"). The combined company will operate under the nameRoadzen Inc., and its ordinary shares and warrants are expected to commence trading on
Nasdaq today.

Built in India with a global vision, Roadzen has achieved a significant milestone by securinga pre-money equity value of $683 million. Roadzen is expected to make its debut on Nasdaq
today, with its ordinary shares trading on the Nasdaq Global Market under the symbol"RDZN" and its warrants trading on the Nasdaq Capital Market under the symbol "RDZNW".
The Company will ring the closing bell at Nasdaq in New York City on September 22, 2023.
Roadzen is a leading provider of AI-powered insurance technology solutions that help
insurers improve customer experience, reduce fraud, and make better underwriting
decisions. The company's solutions are used by over 90 enterprise customers including
major global insurers, fleets and carmakers to provide superior customer experiences in theUS, UK, Europe and India. Roadzen has strategically partnered with global automotive
players, including Mercedes, Audi, Volvo-Eicher, Mitsubishi, Skoda, Seat, Renault, and Dacia,
major insurers such as Axa, Societe Generale, and Arch, and fleet companies such as CJ
Darcl. In addition to these collaborations, Roadzen serves an extensive customer base of over
2,600 smaller agents and fleets. These partnerships and the diverse customer portfolio
provide Roadzen with substantial opportunities for upselling and cross selling its innovative
products and services.

Roadzen has achieved a 5x revenue growth in the last 2 years, growing its revenues from
$13.5 million in FY 2021 to $58.6 million (proforma) in FY 2023.

Roadzen expects the merger with Vahanna to provide Roadzen with the capital andresources it needs to accelerate its growth and expand its product offerings. The company
plans to use the proceeds from the transaction to invest in AI research, expand its sales andmarketing efforts, and make strategic acquisitions.

The combined company will continue to be led by Rohan Malhotra and the current
Roadzen management team. The Company will be supported by a highly experienced
board with extensive technology and capital markets experience.

Commenting on today's announcement, Roadzen's Founder and Chief Executive Officer,
Rohan Malhotra, said, "Going public is a pivotal moment in Roadzen's journey, yet it's merely
one milestone in our mission to deliver simpler, smarter and safer insurance to drivers
globally. We're incredibly excited about the transformative potential of AI in reshaping the$800 billion auto insurance market and are going to be unwavering in our focus to build
Roadzen as the leader at the intersection of AI, mobility and insurance."

Steve Carlson, Chairman of Roadzen, added, "Roadzen's Nasdaq listing signifies ourcommitment to reshaping the auto insurance industry through advanced AI technology.
Positioned at the forefront of the evolving landscape of connected, electrified, andautonomous mobility, we are poised to redefine in-vehicle experiences across identity,payments, logistics, and insurance."Vinode Ramgopal, Chairman of Vahanna's sponsor, Vahanna LLC, added, "Roadzen is truly
one of the rare insurtech platforms leveraging applied AI, telematics and computer vision torevolutionize the legacy auto insurance industry, which is plagued by rising costs andsoaring premiums. In today's inflationary environment, better underwriting and claims
processing, coupled with lowering costs for insurers and ultimately consumers, provide asignificant runway for Roadzen's growth in the years ahead."

The global automobile insurance market, valued at US$817 billion in 2022, is projected to
grow rapidly at a robust CAGR of 7.1%. Roadzen, on the forefront of this evolving landscape,is positioned to redefine in-vehicle experiences, encompassing identity, payments, logistics,
and insurance, amid a global shift towards connected, electrified, and autonomous mobility.

ABOUT ROADZEN

Roadzen is a leading insurance technology company on a mission to transform global auto
insurance powered by advanced AI. Thousands of clients - from some of the world's leading
insurers, fleets and carmakers to small fleets, brokers and insurance agents - use Roadzen's
technology to build new products, sell insurance, process claims and improve road safety.
Roadzen's pioneering work in telematics and computer vision has earned recognition as a
top AI innovator by publications such as Forbes, Fortune Magazine and Financial Express.
Roadzen has 400 employees across 8 global offices in the U.S., India, U.K. and France.

For materials and information, visit https://www.roadzen.io/.

FORWARD-LOOKING STATEMENTS

Certain statements, estimates, targets and projections in this press release may beconsidered forward-looking statements. Forward-looking statements generally relate tofuture events or Roadzen's future financial or operating performance. For example,statements regarding anticipated growth in the industry in which Roadzen operates andanticipated growth in demand for Roadzen's services, projections of Roadzen's futurefinancial results and other metrics, are forward-looking statements. In some cases, you canidentify forward-looking statements by terminology such as "pro forma", "may", "should","could", "might", "plan", "possible", "project", "strive", "budget", "forecast", "expect", "intend","will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives ofthese terms or variations of them or similar terminology. Such forward-looking statements
are subject to risks, uncertainties, and other factors which could cause actual results to differ
materially from those expressed or implied by such forward-looking statements.

These forward-looking statements are based upon estimates and assumptions that, whileconsidered reasonable by Roadzen and its management, are inherently uncertain. Factorsthat may cause actual results to differ materially from current expectations include, but are
not limited to: (i) the outcome of any legal proceedings that may be instituted against
Roadzen or others following the Business Combination (ii) the ability to meet stock
exchange listing standards following the consummation of the Business Combination; (iii)the risk that the Business Combination disrupts current plans and operations of Roadzen asa result of the consummation of the Business Combination; (iv) the ability to recognize theanticipated benefits of the Business Combination, which may be affected by, among otherthings, competition, the ability of the combined company to grow and manage growth
profitably, the ability of the combined company to maintain relationships with customers,
suppliers, labor unions and other organizations that have a role in the business of Roadzen
and the ability of the combined company to retain its management and key employees; (v)costs related to the Business Combination; (vi) changes in applicable laws or regulations,
including those affecting the industries in which the combined company will operate; (vii)the possibility that Roadzen may be adversely affected by other economic, business,regulatory, and/or competitive factors; (viii) Roadzen's estimates of expenses andprofitability; (ix) the evolution of the markets in which Roadzen competes; (x) the ability ofRoadzen to implement its strategic initiatives and continue to innovate its existing offerings;(xi) the ability of Roadzen to satisfy regulatory requirements; (xii) the impact of the COVID-19
pandemic on Roadzen's business; and (xiii) other risks and uncertainties set forth in thesection entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking
Statements" in Vahanna's Annual Report on Form 10-K for the fiscal year ended December
31, 2022, which was filed with the SEC on April 14, 2023 (as amended by Amendment No. 1
thereto filed on April 27, 2023), and other risks and uncertainties indicated from time to timein the definitive proxy statement delivered to Vahanna's shareholders and related
registration statement on Form S-4, including those set forth under "Risk Factors" therein,
and other documents to be filed with the SEC by Roadzen.

Nothing in this press release should be regarded as a representation by any person that theforward-looking statements set forth herein will be achieved or that any of thecontemplated results of such forward-looking statements will be achieved. You should not

place undue reliance on forward-looking statements, which speak only as of the date they
are made. Roadzen does not undertake any duty to update these forward-lookingstatements.

Contact:

Investor Contacts:
Roadzen: Raghav Kansal (raghav@roadzen.io)
ICR: Michael Bowen & Dhruv Chopra (RoadzenIR@ICRinc.com)

Media Contacts:
Roadzen: Sanya Soni (sanya@roadzen.io)
Gutenberg: Tom Geiser & Priyanka Pandit (Roadzen@thegutenberg.com)

SOURCE Roadzen