#1IndiGrid INVESTOR PRESENTATION Q2 FY22 RESULTS#2Safe Harbor IndiGrid This presentation is prepared and issued by IndiGrid Investment Managers Limited (the "Investment Manager") on behalf of and in its capacity as the investment manager of India Grid Trust ("IndiGrid") for general information purposes only without regards to specific objectives, financial situations or needs of any particular person and should not be construed as legal, tax, investment or other advice. This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an offering memorandum, an advertisement, an offer or an offer document under the Companies Act, 2013, the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, as amended, or any other applicable law in India. This presentation does not constitute or form part of and should not be construed as, directly or indirectly, any offer or invitation or inducement to sell or issue or an offer, or any solicitation of any offer, to purchase or sell any securities. This presentation should not be considered as a recommendation that any person should subscribe for or purchase any securities of: (i) IndiGrid or its portfolio assets (being, IndiGrid Limited, IndiGrid 1 Limited, IndiGrid 2 Limited, Bhopal Dhule Transmission Company Limited, East-North Interconnection Company Limited, Jabalpur Transmission Company Limited, Maheshwaram Transmission Limited, RAPP Transmission Company Limited, Purulia Kharagpur Transmission Company Limited, Patran Transmission Company Limited, NRSS XXIX Transmission Limited, Odisha Generation Phase II Transmission Limited, Gurgaon Palwal Transmission Limited, Jhajjar KT Transco Private Limited, Parbati Koldam Transmission Co. Limited, NER-II Transmission Project, IndiGrid Solar Assets) (collectively, the "IndiGrid Group"), or (ii) its Sponsor (being Sterlite Power Transmission Limited, Esoteric II Pte. Ltd.) or subsidiaries of the Sponsor (collectively, the "Sponsor Entities"), and should not be used as a basis for any investment decision. Unless otherwise stated in this presentation, the information contained herein is based on management information and estimates. The information contained in this presentation is only current as of its date, unless specified otherwise, and has not been independently verified. Please note that, you will not be updated in the event the information in the presentation becomes stale. This presentation comprises information given in summary form and does not purport to be complete and it cannot be guaranteed that such information is true and accurate. You must make your own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as you may consider necessary or appropriate for such purpose. Moreover, no express or implied representation or warranty is made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this presentation. Further, past performance is not necessarily indicative of future results. Any opinions expressed in this presentation or the contents of this presentation are subject to change without notice. None of the IndiGrid Group or the Sponsor Entities or the Investment Manager or the Axis Trustee Company Limited or any of their respective affiliates, advisers or representatives accept any liability whatsoever for any loss howsoever arising from any information presented or contained in this presentation. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the IndiGrid Group or the Sponsor Entities. The distribution of this presentation in certain jurisdictions may be restricted by law. Accordingly, any persons in possession of this presentation should inform themselves about and observe any such restrictions. This presentation contains certain statements of future expectations and other forward-looking statements, including those relating to IndiGrid Group's general business plans and strategy, its future financial condition and growth prospects, and future developments in its sectors and its competitive and regulatory environment. In addition to statements which are forward looking by reason of context, the words 'may', 'will', 'should', 'expects', 'plans', 'intends', 'anticipates', 'believes', 'estimates', 'predicts', 'potential' or 'continue' and similar expressions identify forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy, future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts, if any, are correct or that any objectives specified herein will be achieved. All forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results, performances or events to differ materially from the results contemplated by the relevant forward looking statement. The factors which may affect the results contemplated by the forward-looking statements could include, among others, future changes or developments in (i) the IndiGrid Group's business, (ii) the IndiGrid Group's regulatory and competitive environment, (iii) the power transmission sector, and (iv) political, economic, legal and social conditions. Given the risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements.#3Our Vision • • OUR VISION To become the most admired yield vehicle in Asia Focused Business Model Value Accretive Growth Long term contracts Low operating risks • Stable cash flows • DPU accretive acquisitions Y-o-Y • • Creating growth pipeline for future Predictable Distribution Optimal Capital Structure Quarterly distribution Minimum 90% of Net cash flow distributed Sustainable distributions Cap on leverage at 70% AAA rating; prudent liability management Well capitalized IndiGrid 3#4INDIGRID AT A GLANCE 4#5IndiGrid - India's First Power Transmission Yield Platform Amargarh ~INR 214 Bn ASSETS UNDER MANAGEMENT 18 STATES & 1 UT 52 REVENUE GENERATING ELEMENTS Jalandha ~7,570 ckms 40 LINES ~13,550 MVA 11 SUBSTATIONS 100 MW(AC) ~30 YEARS SOLAR GENERATION AVERAGE RESIDUAL CONTRACT# ~11,550 >4,35,000 MT TOWERS STEEL AND ALUMINUM Samba Parbati Koldam Ludhiana Patran Dipalpur Kabulpur Jharli Dhanond Sohna Neemrana Kadarpur Prithala Aligarh RAPP IndiGrid Siliguri Bongaigaon Purnia Biharsharif Itanagar Biswanath Misa Silchar Surajmaninagar Shujalpu Ranchi Bhopal Indore Jabalpur Dharamjaigarh Purfia Chaibasa PK Bar Vadodra gpur harsuguda Dhule Raipur OPGC Aurangabad Nizamabad Yeddumailaran Maheshwaram Mahboobnagar Ananthapuram Solar Park *value of 100% stake of all projects as per independent valuation report as of 30th Sep 2021 #ENICL has a TSA term of 25 years from the Licence Date #IndiGrid Solar Assets have a PPA term of 25 years from the effective date Locations Indicative, only a graphical representation of India 765 kV S/C 765 kV D/C 400 kV D/C 400/132 kV M/C 132 kV D/C 400 kV S/C 2x50 MW (AC) 2x315 MVA (400/220 kV GIS substation) 2x500 MVA (400/220 kV GIS substation) 2x315 MVA + 2x100 MVA ((400/220/132 kV AIS substation) 2x500 MVA (400/220 kV GIS substation) 2x1500 MVA (765/400 kV AIS substation) 2x315 MVA (400/132 kV AIS substation) 5#6Q2 FY22 PERFORMANCE UPDATE#7Key Power Sector Trends Demand Trend a) All-India electricity demand increased by 12.7% YoY during Apr-Sep'21 b) Power demand is on a recovery mode post a transient supply-led downturn; strong demand growth of 3.4% YoY in first fortnight of October (on a high base of 12%) c) Increased power demand due to festival/agri season, residential demand (high temperatures) and uptick in manufacturing Supply issues a) Coal crisis driven by low imports at power plants on rising coal prices b) Resultant power demand- supply deficit and spike in merchant rates only temporary and seasonal c) Domestic coal-based plants ramp up to bridge the gap Technological Disruptions a) Cost of Solar and other Renewables reaching grid parity b) Development on Storage and Battery technologies c) Electrification of mobility will cause further shifts from Oil & Gas sector to Electricity d) Focus on reliability and sustainability of electricity delivery Increased investment in Transmission a) Implementation of GNA (general network access) can lead to further growth of spends on transmission b) Strong need to develop inter-regional transmission networks to connect the producing and consuming regions c) Increased investment in transmission required to add significant redundancy in the grid to reduce the destabilisation of the grid due to the intermittent nature of renewable generation IndiGrid Shifting Technological Disruptions Demand Patterns Decadal Growth Regulatory Dynamism Electricity demand may see a further boost in the medium term, driven by rise in EV adoption and economic growth 7#8Q2 FY22 Highlights • Robust Financials . Q2 FY22 Revenue & EBITDA grew by -43% YoY and -49% YoY respectively Q2 FY22 DPU increased by ~6% YoY to ~INR 3.19* vs INR 3.00 YoY • Q2 FY22 Collections healthy at 105%; in line with seasonal trend AUM increased to ~INR 214 Bn post acquisition of solar asset worth ~INR 6.60 Bn IndiGrid • Well-Capitalised Net Debt/AUM as of Sep 30 2021 at ~57%; significantly below the 70% cap as per SEBI InvIT Regulations Balance Sheet Superior Total Returns Resilient Asset Management Regulatory Evolution • AAA rated by CRISIL, India Ratings and ICRA • Average availability maintained at -99.8% in Q2 FY22 Sustainable Increase in DPU • • • Improved reliability through implementation of DigiGrid and Emergency Restoration System Lowest trips per line since inception on the back of preventive maintenance initiatives Launched IndiGreen program to plant Miyawaki forests and fruit orchards with >50,000 trees FEMA Regulations amended to permit FPIs to invest in debt securities of InvITs and REITs Trading lot size reduced to ONE unit for publicly listed InvITs since Aug'21 Steady Operations • PFRDA enabled NPS backed pension funds to invest in debt securities of InvITs * Q2 FY22 DPU of INR 3.1875 rounded off to INR 3.19 00 8#9BDTCL Operational Performance - Q2 FY22 Q2 FY22 Availability (%) 100.0% 99.9% 100.0% 100.0% 99.9% 99.4% 100.0% 99.7% 99.9% 99.8% 99.3% 100.0% 99.8% . Consistent track record of maintaining superior availability and IndiGrid • • • maximize incentives; Q2 FY22 Average availability at ~99.8% Increased Reliability: Trips/Line at 0.10; lowest since inception Digital Asset Management (DigiGrid) in partnership with IBM: • Implemented successfully in 25% of the portfolio To be ramped up across portfolio by Mar-22 Emergency Preparedness: ERS kits added in the inventory to improve ability to restore lines in case of major force majeure events Increased focus on HSE: Normative Availability Availability over Normative • 100% safe man-hours achieved in Q2 FY22 Notes: Final availability certificates awaited Planned outages impacted availability at PTCL, OGPTL and PrKTCL Key Indicators Q2 FY22 Q2 FY21 Proactive reporting and closure of unsafe and near miss conditions Limited impact of second wave of COVID-19: No. of Trips / Line 0.10 0.27 Safe Man Work Hours (%) 100 84.08 Training Man-Hrs (Hours) ~9,000 ~8,198 COVID appropriate behaviors & preventive measures across sites and offices continued Loss Time Incident 0 1 Unsafe conditions reporting (Nos)* 1,796 420 Near Miss reporting (Nos) 2 15 Rooftop (SS) Solar Generation (kWh) 10,082 9,497 Vaccination drives conducted for employees, relatives and site persons as per Govt. regulations; over 95% of total manpower (including contractors) vaccinated Utility Solar (100 MW) All the critical O&M activities continued as usual in Q2 FY22 Generation (MU) CUF/Plant Availability (%) 50.1 22.7/99.63 49.08 22.2/99.80 *Not comparable due to change in methodology#10Financial Performance - Q2 FY22 Collection Trend: Collections at 105% in Q2 FY22 vs 113% YoY and 70% QoQ • DSO days at 52 as of Sep'21 vs 81 days YoY 99% 88% Collection Efficiency % 110% 81% July August 146% 128% Consolidated Financials IndiGrid INR Mn Q2 FY22 Q2 FY21 % change Revenue 5,476 3,840 43% EBITDA 5,040 3,375 49% NDCF Generated 2,241 1,976 13% DPU (INR per unit) ~3.19 3.00 6% Revenue (INR Mn) EBITDA (INR Mn) 14,473 16,748 55% 51% CAGR 11,504 113% 105% CAGR 12,427 11,019 September Q2 82 FY21 ■FY22 4,480 6,656 6,036 4,155 10,080 FY18 FY19 FY20 FY21 H1 FY22 FY18 FY19 FY20 FY21 H1 FY22 Note: NDCF Generated includes factoring worth ~INR 250 Mn in Q2 FY22 10 10#11Distribution Update - Q2 FY22 Particulars Distribution per unit (DPU) (INR) Q2 FY22 ~3.19 H1 FY22 -6.38 Interest 1.86 4.90 Dividend** 0.05 0.20 Capital Repayment/Others 1.28 1.28 Outstanding Units (Mn) 700.2 700.2 Gross Distribution (INR Mn) ~2,232 ~4,464 Record Date Nov 2, 2021 Tentative Distribution Date (on or before) Nov 11, 2021 NAV per Unit (INR) ~133 ~INR 52.15/unit amounting to ~INR 25.05 billion distributed to investors since listing (including Q2 FY22 distribution) On track to meet increased DPU guidance of INR 12.75 per unit in FY22 2.75 NAV inched higher to ~INR 133 per unit on the back of increase in AUM ** Exempt under section 10(23FD) as the SPV (PrKTCL) does not opt for concessional tax regime under section 115BAA of the Income Tax Act, 1961 Quarterly DPU run-rate 3-4% YoY Growth 3.19 3.10 3.00 3.00 FY18 FY19 FY20 FY21 FY22(P) IndiGrid 11#12Consolidated EBITDA to NDCF Waterfall - Q2 FY22 IndiGrid (In INR Mn) 5,065 -196 -90 326 -13 Reserve worth INR 9.4 Mn created during the quarter; reserve balance at ~INR 1,160 Mn 24 24 5,107 -9 -12 2,232 -2,854 -9 Finance cost WC movement Tax at SPV NDCF at SPV Finance cost at IGT* Distribution EBITDA at SPV Debt repayment Capex Reserve at SPV Expenses at IGT Tax at IGT Note: NDCF Generated includes factoring worth ~INR 250 Mn in Q2 FY22 * Finance cost at IGT includes a one-time interest outflow worth -INR 660 Mn on account market linked debenture prepayment 12#13Robust Balance Sheet Debt worth INR 8.5 Bn raised in Q2 FY22 for refinancing and funding acquisitions ➤ Weighted average cost of borrowing for incremental debt at ~6.72% AAA Rated By CRISIL, ICRA & India Ratings ~7.81% Average Cost of Debt** INR 8.03 Bn Cash Balance* IndiGrid Gross Borrowings** (INR 126.7 Bn) As on September 30,2021 62 3 6 9 15 44 >70% Fixed Rate Borrowings ~57% Net Debt/AUM >1.9x EBITDA/Interest NCDs 54% Bank Loans 46% 41 ■NCD-MFs ■NCD-Banks ■Loan- Private Banks Loan-PSU Bank ■NCD-Corporates NCD-Retails/HNI ■NCD-Insurance Co Others 1.80 FY22 23.94 8.94 Repayment / Refinancing Schedule** (INR Bn) 13.47 12.40 13.47 11.60 [iiii!......! FY23 FY24 7.24 FY25 7.45 FY26 FY27 6.98 FY28 FY29 4.13 4.39 FY30 *Includes INR 2.23 Bn held for distribution, INR 3.35 Bn for DSRA and excludes INR 3.77 Bn for debt repayments in October ** Excludes INR 3.77 Bn repaid in October 3.35 3.04 2.65 1.81 FY31 FY32 FY33 FY34 FY35 FY36 FY37 13#14Superior Risk-Adjusted Total Returns for Investors Substantially higher than Gsec as well as comparable indices on a risk-adjusted basis; Significantly better returns than NSE 500 on a risk-adjusted basis Annualised Return 7% 8% 16% 16% 14% 12% 9% NA Total Returns 33% 37% 89% 87% 78% 63% 44% 20% Source: Bloomberg 5% 4% 40% 81% 70% 50% 24% 20% 30% 32% 49% 7% 8% 13% 20% Price Change ■Distribution GSEC Bond GSEC Bond (10 year) (30 year) IndiGrid NSE 500 NSE INFRA BSE Utilities PGCIL PGCIL InvIT Beta vs NSE 500 10Y GSec Bond 30Y Gsec Bond IndiGrid NSE 500 NSE INFRA BSE Utilities PGCIL PGCIL InvIT 0.02 0.01 0.06 1.00 0.95 0.90 0.64 0.49 10Y GSec Bond refers to IGB 6.79 15/05/2027; 30Y to IGB 7.06 10/10/46 Corp Total return is sum of all distributions since listing (Jun '17) and change in price till Sep 30,2021 IndiGrid Beta refers to Historical Beta calculated on a weekly basis since listing of IndiGrid to Sep 30, 2021 14#15LOOKING AHEAD... 15#16FY22 Business Outlook Portfolio Growth • INR 500 Bn worth inter state (TBCB) and INR 450 Bn intra-state bids (TBCB) are expected to be tendered over next 3-4 years creating a healthy pipeline for acquisition and bidding Focus on acquisition of framework asset (KTL), operational solar and transmission assets Evaluate bidding opportunities in power transmission with partners Improving Balance Sheet Strength Resilient Asset Management • . • Delivering on increased DPU Guidance of INR 12.75 for FY22 IndiGrid Focus on refinancing opportunities with an aim to reduce interest cost and elongate tenures Focus on maintaining adequate liquidity to mitigate any uncertainties or unpredictable scenario Superior Total Returns Focus on maintaining > 99.5% availability across portfolio and maximize incentives • Self-reliant O&M practices across the portfolio • Implement DigiGrid across portfolio to improve reliability • Ensuring world class EHS and ESG practices across the portfolio Industry Stewardship • • Policy initiatives to streamline tax anomalies between equity and InvITs Enabling index inclusion for InvITS/REITS Focus on increasing awareness about IndiGrid and InvITs Sustainable Increase in DPU Stable Operations 16#17ANNEXURES#18Our Portfolio Assets 11 Inter State TBCB Transmission Projects 1 Intra State TBCB Transmission Project 1 Regulated Tariff Transmission Project IndiGrid (In INR Mn) 1 Solar Generation Asset Asset States Elements Contract COD Availability (%)* AUM* FY22 Tariff Contribution^ Metal ('000 Metric Ton) 6 Lines - 945 ckms BDTCL Madhya Pradesh, Maharashtra, Gujarat Fixed Tariff/ Centre Jun-2015 99.68% 20,213 2,686 Steel 48.9;Al - 22.3 2 Substations - 6,000 MVA JTCL Madhya Pradesh, Chhattisgarh 2 Lines - 995 ckms Fixed Tariff/ Centre Sep-2015 99.70% 16,284 1,512 Steel -62.8, Al - 21.8 RTCL Madhya Pradesh, Rajasthan 1 Line - 405 ckms Fixed Tariff/ Centre Mar-2016 99.81% 4,211 455 Steel - 6.7, Al - 3.5 PKTCL West Bengal, Jharkhand 2 Lines - 545 ckms Fixed Tariff/ Centre Jan-2017 99.92% 6,816 748 Steel 10.4, Al - 4.8 MTL PTCL NRSS OGPTL ENICL GPTL JKTPL PrKTCL NER-II Solar Assets Telangana Punjab Punjab, Jammu & Kashmir Odisha, Chhattisgarh Assam, Bihar, West Bengal Haryana, Rajasthan, Uttar Pradesh Haryana Himachal Pradesh, Punjab Tripura, Assam, Arunachal Pradesh Andhra Pradesh - I & II 14 Projects 18 States, 1 UT *From COD to Sep-21 6 Lines 458 ckms 6 Lines- 832 ckms 2 Substations- 630 MVA 100 MW (AC) ~7,570 ckms, 13,550 MVA and 100 MW 52 revenue generating elements # As per independent valuation report for September 2021 2 Lines - 475 ckms Fixed Tariff/ Centre Dec-2017 99.87% 5,952 578 - 1 Substation - 1000 MVA 3 Lines 830 ckms Fixed Tariff/ Centre Nov-2016 99.86% 2,375 317 Steel - 9.3; Al - 4.2 NA Fixed Tariff/ Centre Sep-2018 99.65% 46,603 5,174 Steel 27.8; Al - 7.3 1 Substation - 630 MVA = 2 Lines 710 ckms Fixed Tariff/ Centre Apr-2019 99.83% 14,898 1,625 Steel 43.7; Al - 14.3 2 Lines - 895 ckms Fixed Tariff/ Centre Nov-2014 99.49% 12,114 1,478 Steel -37.7; Al - 15.6 5 Lines - 275 ckms Fixed Tariff/ Centre Apr-2020 99.24% 12,124 1,484 Steel -8.4, Al -3.0 3 Substations -3000 MVA 3 Lines 205 ckms Fixed Tariff/State Mar-2012 99.12% 2,978 483 Steel 8.7, Al -3.6 2 Substations - 1660 MVA Regulated/Centre Jun-2015 99.85% 8,146 1,377 Steel- 22.1, Al - 6.7 Fixed Tariff/ Centre Fixed Tariff PPA (INR 4.43/kWh) Mar-2021 99.32% 53,725 4,227 Steel- 27.8, Al- 8.5 Jul' 18/Jan'19 N.A. 7,391 N.A. Steel- 4.14, Al- 1.04 >99.60% -214 Bn 22,144 Steel 318,483 MT Aluminium 116,718 MT "As per independent valuation report for March 31, 2021 18#19Our Corporate Structure KKR 74%A IGL 100% KKR Sponsor* -24% Investment Manager (IIML) 100% | GIC -20% IndiGrid 100% IGL 1 IGL 2 - Other Unitholders ~56% AXIS TRUSTEE Trustee IndiGrid 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 74% 100% 100% BDTCL JTCL RTCL PKTCL MTL NTL OGPTL PTCL ENICL GPTL JKTPL PrKTCL# NER-II Solar- I & II Initial Portfolio Asset Acquired Sponsor Assets Acquired Third Party Asset % Represents Economic Ownership IGL= IndiGrid Limited,, IGL1 = IndiGrid 1 Limited, IGL2 = IndiGrid 2 Limited, BDTCL = Bhopal Dhule Transmission Company Limited, JTCL = Jabalpur Transmission Company Limited, RTCL = RAPP Transmission Company Limited, PKTCL = Purulia & Kharagpur Transmission Company Limited, MTL = Maheshwaram Transmission Limited, PTCL = Patran Transmission Company Limited, NTL = NRSS XXIX Transmission Limited, OGPTL = Odisha Generation Phase II Transmission Limited, ENICL = East-North Interconnection Company Limited, GPTL = Gurgaon Palwal Tranmission Limited, JKTPL = Jhajjar KT Transco Private Limited, PrKTCL = Parbati Koldam Transmission Company Limited, NER-II = NER II Transmission Limited, Solar I & II = IndiGrid Solar-I (AP) Private Limited and IndiGrid Solar-II (AP) Private Limited Together with Sterlite Power ** ^Sterlite Power holds 26% stake in IIML #PrKTCL held in a Joint Venture with Power Grid holding 26% stake 19#20Diversified Investor Base As on September 30, 2021 • Supported by marquee long term investor base Retail 22% • -23% owned by Dlls including insurance companies, mutual funds, pension fund and corporates • Retail Holding at ~22%; quadrupled in value since IPO 9 Insurance companies hold ~8% stake Other Fils 10% · FII holding (incl. KKR and GIC) at ~55% GIC 20% Corporates & Trusts 15% Insurance 8% Others 1% KKR (Sponsor 24% IndiGrid KKR GIC Birla Sun Life Insurance Schroders Edelweiss like Tokio Insurance se badhkar hai aapki zaroorat RELIANCE NIPPON LIFE INSURANCE ΤΑΤΑ AIG INSURANCE WITH YOU ALWAYS TATA MOTORS DSP pnb MetLife MAX LIFE Milkar life aage hadharin INSURANCE 20#21An Experienced Board IndiGrid Tarun Kataria Independent Director • Over 30 years of rich experience, currently he serves as an independent non-executive director of Mapletree Logistics Trust Ltd. He is an independent director of Westlife Development Limited, Jubilant Pharma Limited and Global Moats Fund (Mauritius) Previously, served as CEO of Religare Capital Markets Limited, Managing Director and Head of Global banking and markets at HSBC India and Vice Chairman of HSBC Securities and Capital Markets Private Limited • MBA in Finance from the Wharton School of the University of Pennsylvania and is a Chartered Accountant Rahul Asthana Independent Director Ashok Sethi Independent Director Sanjay Nayar Non-Executive Director Pratik Agarwal Non-Executive Director • Over 40 years of experience, currently he serves as the non-executive director on the board of Aegis Logistics Limited, and NBS International. He is also a director on the board of directors of Mahindra Waste to Energy Solutions Limited and Mahindra Integrated Business Solutions Private Limited • Ex-Chairman of Mumbai Trust and Maharashtra State Electricity Board, ex-Metropolitan Commissioner of Mumbai, Metropolitan Region Development Authority Bachelor's degree from IIT Kanpur and MBA from ICPE University of Ljubljana, Slovenia • Over 3 decades of experience in power sector with significant knowledge in project execution, operations, commercial, regulatory, advocacy & policymaking Currently serves as Non-Executive Chairman of Tata Consulting Engineers Limited. Previously, served as the Chief Operating Officer and Executive Director of Tata Power . B.Tech from IIT Kharagpur and Advance Management at Ashridge, UK • Over 30 years of experience, currently serves as the Chairman of KKR India. He is also on the board of Max Healthcare Institute Limited, Avendus Capital Private Limited and JB Chemicals & Pharmaceuticals Limited • Prior to joining KKR, he was CEO of Citigroup's Indian and South Asian operations and a member of Citigroup's Management Committee and Asia Executive Operating Committee • Bachelor's degree in Mechanical Engineering from Delhi University and is an MBA in Finance from the IIM Ahmedabad Managing Director, Sterlite Power • Extensive experience in building core infrastructure businesses in ports, power transmission and broadband • Bachelor's degree from the Wharton Business School and MBA from the London Business School Harsh Shah CEO and Executive Director • Extensive experience in Private Equity financing, M&A, infrastructure financing, regulatory and macro-economic policy • Worked with L&T, L&T Infrastructure Finance, P&G • MBA from National University of Singapore 221 21#22Glossary IndiGrid AC AIS Alternate Current JTCL AUM Assets Under Management Availability BDTCL Air Insulated Substation Percentage amount of time for which the asset is available for power flow Bhopal Dhule Transmission Company Limited JKTPL JV Jabalpur Transmission Company Limited Jhajjar KT Transco Private Limited Joint Venture M/C Multi Circuit Mn Million BOOM Build Own Operate & Maintain MT BOT Bn CAGR CERC CKMS Build, Operate and Transfer Billion Compounded Annual Growth Return Central Energy Regulatory Commission COD/SCOD Commercial Operation Date/Scheduled Commercial Operation date Circuit Kilometers MTL MVA MW Megawatt NAV NCD D/C DII Double Circuit Domestic Institutional Investor NDCF DPU DSO Cash paid to the Unitholders in the form of interest/capital repayment / dividend Days Sales Outstanding - average number of days that it takes to get the receivables from billing NPS O&M Metric Tonne Maheshwaram Transmission Limited Mega Volt Ampere Net Asset Value per unit Non-Convertible Debentures Net cash flow at trust's disposal for distribution to IndiGrid in a particular year in accordance with the formula defined in Offer Document National Pension Scheme Operations & Maintenance PPA DSRA Debt Service Reserve Account Power Purchase Agreement EBITDA Earnings before interest, taxes, depreciation, and amortization PrKTCL ENICL ESG EHS FII FRV East North Interconnection Limited Environment Social and Governance Environment, health and safety Foreign Institutional Investor Fotowatio Renewable Ventures PKTCL PTCL Parbati Koldam Transmission Company Limited Purulia Kharagpur Transmission Company Limited Patran Transmission Company Limited RTCL S/C RAPP Transmission Company Limited Single Circuit FY Financial Year SECI Solar Energy Corporation of India GIS Gas Insulated Substation SPV GPTL - Gurgaon Palwal Transmission Limited Tariff GTTPL Goa Tamnar Transmission Project Limited IPA IGT BDTCL and JTCL which were acquired by IndiGrid at the time of IPO India Grid Trust IPO Initial Public Offering IIML IndiGrid Investment Managers Limited ISRA Interest Service Reserve Account ISTS Inter State Transmission System InvIT Infrastructure Investment Trust KTL Khargone Transmission Limited KKR KV KKR & Co. Inc. (including its affiliates and subsidiaries) Kilo Volt TBCB TSA Transmission Service Agreement UT Union Territory WC Working Capital YTD Year Till Date YOY Year on Year Special Purpose Vehicle Composed of Non-Escalable, Escalable and Incentive component. The incentive component is based on the availability of the asset = 2*(Annual Availability - 98%)*(Escalable + Non-escalable); incentive is maximum 3.5% of (Escalable+Non- escalable tariff) Tariff Based Competitive Bidding 22 22#23IndiGrid THANK You