Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 63

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 5
Chunk 63
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ITEM
5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS

The
following discussion and analysis of our financial condition, changes in financial condition and results of operations should be read
in conjunction with our audited consolidated financial statements and the related notes and other financial information included elsewhere
in this annual report. In addition to historical consolidated financial information, the following discussion may contain forward-looking
statements that reflect our plans, estimates, and beliefs that involve risks and uncertainties. Our actual results could differ materially
from those discussed in the forward-looking statements as a result of many factors, including those factors set forth in “ Item
3. Key Information - D. Risk Factors” and the section titled “ Cautionary Note Regarding Forward-Looking Statements,”
which you should review for a discussion of some of the factors that could cause actual results to differ materially from the results
described in or implied by the forward-looking statements contained in the following discussion and analysis and elsewhere in this annual
report.

Exchange
rate information

The
functional currency for SIMPPLE is the Singapore Dollar (“ S$”), which is also the subsidiaries IFSC Pte. Ltd., Gaussian Robotics
Pte. Ltd. and Simpple Pte. Ltd.’s functional currency. The Company uses Singapore Dollar (“ S$”) as its reporting currency.

In
the consolidated financial statements of the Company, transactions in currencies other than the functional currency are measured and
recorded in the functional currency using the exchange rate in effect at the date of the transaction. At the balance sheet date, monetary
assets and liabilities that are denominated in currencies other than the functional currency are translated into the functional currency
using the exchange rate at the balance sheet date. All gains and losses arising from foreign currency transactions are recorded in the
income statements during the year in which they occur.

Translations
of the consolidated balance sheet, consolidated statement of income and consolidated statements of cash flow from S$ into US$ as of and
for the year ended December 31, 2024 are solely for the convenience of the reader and were calculated at the rate of US$0.7320 = S$1,
as set forth in the statistical release of the Federal Reserve System on December 31, 2024. No representation is made that the SGD amounts
could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2024, or at any other rate.

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