#1C13C GAR GMR Airports Infrastructure Limited Investor Presentation Q2FY2023 DISH#2GAR DISCLAIMER All statements, graphics, data, tables, charts, logos, names, figures and all other information ("Contents") contained in this document ("Material") is prepared by GMR Airports Infrastructure Limited ("Company") solely for the purpose of this Material and not otherwise. This Material is prepared as on the date mentioned herein which is solely intended for reporting the developments of the Company to the investors of equity shares in the Company as on such date, the Contents of which are subject to change without any prior notice. The Material is based upon information that we consider reliable, but we do not represent that it is accurate or complete. Neither the Company, its subsidiaries and associate companies ("GMR Group"), nor any director, member, manager, officer, advisor, auditor and other persons ("Representatives") of the Company or the GMR Group provide any representation or warranties as to the correctness, accuracy or completeness of the Contents and this Material. It is not the intention of the Company to provide a complete or comprehensive analysis or prospects of the financial or other information within the Contents and no reliance should be placed on the fairness on the same as this Material has not been independently verified by any person. NONE OF THE COMPANY, THE GMR GROUP AND THE REPRESENTATIVES OF THE COMPANY AND THE GMR GROUP ACCEPT ANY LIABILITY WHATSOEVER FROM ANY LOSS OR DAMAGE HOWSOEVER ARISING FROM ANY CONTENTS OR OTHERWISE ARISING OUT OF OR IN CONNECTION WITH THIS MATERIAL. 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This Material and any discussions which follows may contain 'forward looking statements' relating to the Company and the GMR Group and may include statements relating to future results of operation, financial condition, business prospects, plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the directors and management of the Company about the business, industry and markets in which the Company and the GMR Group operates and such statements are not guarantees of future performance, and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's or the GMR Group's control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward looking statements. Such statements are not, and should not be construed, as a representation as to future performance or achievements of the Company or the GMR Group. In particular, such statements should not be regarded as a projection of future performance of the Company or the GMR Group. It should be noted that the actual performance or achievements of the Company and the GMR Group may vary significantly from such statements. All forward-looking statements are not predictions and may be subject to change without notice. This Material is not and does not constitute any offer or invitation or recommendation or advise to purchase, acquire or subscribe to shares and other securities of the Company or the GMR Group and not part of this Material shall neither form the basis of or part of any contract, commitment or investment decision nor shall be relied upon as a basis for entering into any contract, commitment or investment decision in relation thereto. Prospective investors in the Company or the GMR Group should make its own investment decisions and seek professional advice including from legal, tax or investment advisors before making an investment decision in shares or other securities of the Company or the GMR Group. Remember, investments are subject to risks including the risk of loss of the initial principal amount invested; past performance is not indicative of future results. REGULATORY AUTHORITIES IN THE UNITES STATES OF AMERICA, INDIA, OR OTHER JURISDICTIONS, INCLUDING THE SECURITIES AND EXCHANGE COMMISSION AND THE SECURITIES AND EXCHANGE BOARD OF INDIA ("SEBI"), HAVE NEITHER APPROVED OR DISAPPROVED THIS MATERIAL OR DETERMINED IF THIS MATERIAL IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY MAY CONSTITUTE A CRIMINAL OFFENSE. Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 1#3Financial Highlights GAR Humility | Entrepreneurship | Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual#4GIL Performance Highlights - Q2FY23 GAR Consolidated Financials Gross Revenues: 10% QoQ; 54% YoY to INR 15.9 bn in Q2FY23 EBITDA 10% QoQ; 5% YoY to INR 4.7 bn in Q2FY23. YoY declined mainly due to commencement of revenue share payment to AAI in Delhi Airport from April 2022 Net profit after tax¹ ✓ Loss of INR 2.0 bn in Q2FY23 vs loss of INR 1.1 bn in Q1FY23 and loss of INR 5.0 bn in Q2FY22 Revenue 15.9 14.4 10.3 Q2FY22 1 from continuing operations Q1FY23 INR bn Q2FY23 EBITDA INR bn 5.0 4.7 4.3 Q2FY22 Q1FY23 Q2FY23 Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 3#5GIL Consolidated EBITDA (Proforma) – Q2FY23 INR mn GIL Consolidated EBITDA# JVs EBITDA (DIAL+GHIAL) Cebu EBITDA 1,721 229 9,012 Airport Consolidated EBITDA (Proforma) 10,962 Consolidated Airport EBITDA (Proforma) is ~INR 11 bn GAR # also include airport subsidiaries Humility | Entrepreneurship | Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 4#6Gross & Net Debt ^ (INR bn) 46 296 250 GIL Consolidated Debt Gross Debt Cash & equivalents Net Debt Note: FCCB of INR 1.99 bn not considered in debt, ^ As on September 30, 2022 Net Debt (Sector-wise) ^ (in INR bn, %age of total) GAR Airport, 231,92% 3 Corporate, 19,8% - Delhi Airport INR 102 bn Hyderabad Airport - INR 65 bn Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 5#7Business Highlights GAR Humility | Entrepreneurship | Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual#8• Traffic Capex Key Highlights - Q2FY23 GAR Domestic traffic up 76% YoY and 75% YoY in Delhi and Hyderabad respectively in Q2FY23 International traffic up 230% YoY each in Delhi and Hyderabad respectively in Q2FY23 • • Goa Airport received 'Consent to Operate' from Goa State Pollution Control Board and Aerodrome License from DGCA; Airport is expected to be inaugurated soon Delhi, Hyderabad and Crete Airports expansion works progressing as per schedule Deleveraging • Signed deal with Aboitiz InfraCapital for divestment of our stake in Cebu Airport Cebu divestment decision is in line with strategy to focus on deleveraging and redeploying. capital in high growth opportunities Ad-hoc tariff issued for Goa Airport Regulatory Passenger Service Charges (PSC) increased in Medan Airport w.e.f August 1, 2022 Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 7#92000 1600 1200 800 400 0 Jan 2020 Feb 5000 4000 3000 2000 1000 0 Mar Delhi Airport -Monthly Pax 1,2 Apr May Domestic ('000) Passenger Traffic 1800 1500 93% of pre-covid 1200 900 600 Aug Sep 2020 ......2021 2022 ......Pre-Covid (CY19) International ('000) 2021 Apr May Jun 2022 Jul 400 320 240 160 84% of pre-covid 80 0 Aug .....Pre-Covid (CY19) 2020 300 0 Mar Hyderabad Airport - Monthly Pax 1,2 Domestic ('000) 95% of pre-covid ⚫2020 2021 2022 ......Pre-Covid (CY19) International ('000) 83% of pre-covid Note: 1) Pre-covid benchmark to monthly traffic for the FY20; 2). Govt had allowed 33% capacity for the airlines till Jun 25, 2020 and increased to 45% till Sep 2, 2020, 60% till Nov 11, 2020, 70% till Dec 3, 2020 and 80% till 31 May 2021. Jun 1, 2021 onwards cap reduced to 50% and revised to 65% in Jul 5, 2021, 72.5% in Aug 12, 2021. Restriction for domestic flight lifted on Oct 18, 2021. Scheduled International Operations began on March 27, 2022. Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 2021 2022 ......Pre-Covid (CY19) 8 GAR#10Growth Drivers in Place for Business to Gain Further Momentum GAR Cargo business traffic Delhi Airport Hyderabad Airport % of pre-Covid % of pre-Covid 120% 120% 100% 80% 100% 80% 60% 60% 87% of pre-covid 84% of pre-covid 40% 40% 20% 20% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 2020 ......2021 2022 2020 Apr May Jun Jul Aug Sep Oct Nov 2021 2022 Traffic to gain further momentum addition of routes and airline capacity Dec Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 9#11Our Assets GAR Humility | Entrepreneurship | Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual#12Current PAX (FY20) (mn) PAX CAGR FY15-20 Cargo CAGR FY15-20 Current/Max Capacity (MPPA)5 Revenue Share (%) Revenue per Pax GAL Stake (%) Portfolio of World Class Assets DIAL, New Delhi, India 67.3 66/119 Crete, Greece 152 Important Tourist Gateway 10.4% 45.99% New airport with higher 6.5% 64.0% 21.6% capacity replacing existing airport • Marquee asset of national importance Gateway to India - National Capital with large catchment area Ranked 1st in the world by ACI³ in 40 mm+ category competing with Incheon (South Korea), Changi (Singapore) in 2020 ASQ awards Nagpur, India? 3.1 Winter capital of Maharashtra Bhogapuram, India 303-DOM 606-INT Strategically located on East Coast of Andhra Pradesh . Fast emerging as 16.9% a major IT/ITES, logistics, and ~10-year moratorium on Crete 100% revenue share aerospace hub along DIAL 9.7% with a major Nagpur manufacturing base Bhogapuram MOPA GHIAL Cebu 100.0% Bidar MOPA, Goa, India Medan Strong growth runway for key assets (in mn) 190 394 Total GMR Airports Current Capacity7 Final Capacity 7.72/33 Goa is one of India's popular 36.99% • tourist destinations Tourist airport with 100.0% high international passenger traffic and non-aero potential GHIAL, Hyderabad, India ~2-year moratorium • 21.7 12/80 on revenue share Bidar, India 15.8% 4% Concession agreement has been given till March 2033 Ranked 1st by AC134 in its ASQ awards for 2020 Among fastest growing major Indian airports by traffic 7.3% 63.0% . Revenue model basis cost plus approach Poised to become regional hub Cebu, Philippines 11.4 15.81/28.3 40% GAR • Vital international gateway to Philippines One of the fastest growing airports in Philippines Medan, Indonesia ⚫ Western 10.5 International hub of Indonesia 49% Medan is the fourth- largest urban area in Indonesia Source: Company Data; 1) Capacity increased to 15.8 mn, 2) Under-development, 3) ACI: Airport Council International. CAPA: Center for Asia-Pacific Aviation, 4) In 15 to 25mm passengers p.a category, 5) MPPA: Mn Passengers p.a., 6) FY21 numbers not considered since it was affected by Covid-19, 7) Nagpur Airport traffic is not considered, GMR has won the bid but not taken over the operations yet Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual 11#13Domestic Airports GAR Humility | Entrepreneurship | Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual#14Key Highlights - Q2FY23 GAR Delhi Airport (DIAL) Traffic 2% QoQ; 76% YoY to 15 mn pax Gross revenue О 8% QoQ; 42% YoY to INR 9.6 bn Aero revenue 1% QoQ; 62% YoY Non-aero revenue 14% QoQ; 60% YoY ✓ Retail incl. Duty Free 18% QoQ; 2.8x YoY . CPD Rentals 1% QoQ; ▼16% YoY. YoY down due to the contract amendment of Bharti Realty transaction EBITDA of INR 2.3 bn in Q2FY23 vs INR 2.2 bn in Q1FY23, INR 3.8 bn in Q2FY22 78 domestic destinations connected as on September'22 (vs. 72 pre-covid). On international, 61 destinations are connected (vs. 78 pre-covid) Overall progress achieved 73.2% as on September 30, 2022 w.r.t expansion project Awards Gold Award in 7th CII National Competition on Low Cost Automation for its "Automated Tray Retrieval System" project National Award for Excellence in Energy Management by CII-Green Business Centre. Also, received National Energy Leader Award for 2021, based on its consistent performance at the highest level in the last four years (2018, 2019, 2020 & 2021) Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 13#15Hyderabad Airport (GHIAL) Key Highlights - Q2FY23 GAR • Traffic 3% QoQ; ▲75% YoY to 4.9 mn pax • Gross revenue 7% QoQ; 90% YoY to INR 2.9 bn 68% YoY О Aero revenue ▲6% QoQ; ▲ 105% YoY) Non-aero revenue 9% QoQ; ✓ Retail incl. Duty Free 20% QoQ; 2.7x YoY EBITDA of INR 1.7 bn in Q2FY23 vs INR 1.6 bn in Q1FY23, INR 493 mn in Q2FY22 64 domestic destinations connected (vs. pre-Covid level of 55). 17 International destinations connected (vs. pre-Covid level of 16) • Overall progress achieved 78% as on September 30, 2022 w.r.t expansion project • Awards: O CII National Awards For "National Energy Leader" & "Excellent Energy Efficient Unit" Categories Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 14#16Operational & Financial Highlights YoY – Q2FY23 GAR (figures in INR mn) Delhi Airport (Standalone) Hyderabad Airport (Standalone) Particulars Q2FY2022 Q1FY2023 Q2FY2023 Q2FY2022 Q1FY2023 Q2FY2023 Net Revenues 6,118 4,851 5,120 1,470 2,628 2,804 EBITDA 3,801 2,154 2,296 493 1,573 1,656 Interest 2,507 1,924 2,021 661 667 752 PAT (3,158) (380) (990) (311) 381 423 Delhi - Passenger Traffic increased 76% YoY Domestic International Hyderabad - Passenger Traffic increased 75% YoY (mn pax) 15.0 3.7 ■Domestic International (mn pax) 4.9 8.5 1.1 230% 0.8 2.8 230% 0.3 11.3 7.4 ▲ 52% 4.0 2.5 59% Q2FY2022 Q2FY2023 Traffic decreased from 15.3 Mn in Q1FY23 to 15.0 Mn in Q2FY23 Q2FY2022 Q2FY2023 Traffic decreased from 5.0 Mn in Q1FY23 to 4.9 Mn in Q2FY23 Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 15#17Operational & Financial Highlights YoY - H1FY23 Particulars Delhi Airport (Standalone) (figures in INR mn) Hyderabad Airport (Standalone) H1FY2023 H1FY2022 H1FY2023 H1FY2022 Net Revenues 11,517 9,971 2,441 5,432 EBITDA 6,954 4,450 525 3,228 Interest 4,525 3,945 1,292 1,419 PAT (3,051) (1,370) (883) 804 Delhi - Passenger Traffic up 122% YoY 13.7 1.9 11.8 H1FY2022 ■Domestic International (mn pax) 30.3 7.0 ▲ 267% Hyderabad - Passenger Traffic up 129% YOY Domestic International 4.3 23.3 98% 0.4 3.9 H1FY2023 H1FY2022 ▲ 287% ▲ 112% 8.3 (mn pax) 9.9 1.6 H1FY2023 Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual GAR 16#18Consolidated EBITDA (Proforma) – H1FY23 - Delhi Airport Hyderabad Airport GAR INR mn INR mn Standalone EBITDA Share of EBITDA from JVs/ Subsidiaries Consolidated EBITDA (Proforma) Standalone EBITDA Share of EBITDA from JVs/ Subsidiaries 1,406 5,855 988 Consolidated EBITDA (Proforma) 4,216 4,450 3,228 Consolidated Airport EBITDA (Proforma) . Delhi Airport is INR 5.9 bn Hyderabad Airport is INR 4.2 bn Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 17#19Significant Improvement in Key Parameters Delhi Airport ATMs increased 41% YoY in Q2FY23 Domestic International Hyderabad Airport ATMs increased 37% YoY in Q2FY23 Domestic International 75.6 12.1 63.5 Q2FY2022 (Nos '000) 106.8 22.2 ▲ 83% 27.9 2.7 84.6 33% 25.2 Q2FY2023 Q2FY2022 ▲ 112% Significant Improvement in Destination Connected Destinations Pre-COVID Domestic International Q2FY23 Destinations 72 78 Domestic 78 61 International ▲ 29% (Nos '000) 38.3 5.7 32.6 Q2FY2023 Pre-COVID Q2FY23 55 64 16 17 Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual GAR 18#20Non-Aero Revenues Performance YoY - H1FY23 GAR Delhi Airport INR 11.2 bn Non-Aero Revenue Break-up • Non-aero revenues Advt. • Retail revenues Cargo 15% 6% F&B 8% Ground Handling 6% Space Rentals 23% Retail (incl Duty Free) 27% Others 15% 60% to INR 11.2bn 3.3x YoY to INR 3.1bn 。 Duty Free SPP increased to INR 973 in H1FY23 from INR 941 in H1FY22 Cargo revenues 5% YoY to INR 1.7bn o Cargo vol. flat YoY to 0.457 mn tons • Advertisement revenues 2.2x YoY to INR 690mn O Site occupancy rate decreased to 50% in H1FY23 vs 56% in H1FY22 Hyderabad Airport Non-Aero Revenue^ Break-up INR 2.0 bn • Non-aero revenues F&B 16% Advt. 10% Space Rentals 11% Car Park 22% Retail (incl Duty Free) 27% Others 14% 95% to INR 2.0 bn • Retail revenues 3.2x to INR 540mn 。 Duty Free SPP at INR 522 in H1FY23 vs. INR 644 in H1FY22 • Car-Park revenue 2.7x to INR 434mn • Advertisement: Revenues 2.9x to INR 200mn 。 Occupancy at 50% in H1FY23 vs 43% in H1FY22 ^Cargo, Ground Handling and Fuel Farm is treated as Aero Revenues as per Tariff Order Humility | Entrepreneurship | Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual 19#21Key Highlights - Q2FY23 GAR Goa Airport • · • • Achieved physical progress of 91.32% as of Sep 30, 2022 Multi Year Tariff Proposals for first control period filed to AERA and received Ad-hoc Tariff order - INR 450 per departing domestic passenger and INR 1100 per departing international passenger The Ad-hoc tariff is applicable up to 31st March 2023 or the determination of final tariff whichever is earlier 'Consent to Operate' received from Goa State Pollution Control Board; Aerodrome License from DGCA is received and the Airport is expected to be inaugurated soon Letter of Award for construction of expressway (NH 166S) connecting NH 66 to Mopa Airport is awarded; expected to be operational by Sep 2023 Bhogapuram Airport Development of detailed design of airport is in progress . Land acquisition underway and R&R works is in progress Nagpur Airport Supreme Court uphelds Bombay High Court's judgement granting of concession rights of Nagpur Airport to GMR Airport Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 20 20#22International Airports GAR Humility | Entrepreneurship | Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual#23Key Highlights - Q2FY23 GAR Cebu Airport (Phillipines) Traffic 2.2x QoQ; 5.5x YoY to 1.46 mn pax • Revenue 89% QoQ; 3.3x YoY in constant currency terms Pax growth ▲2.2x QoQ, 5.5x YoY; Air traffic movement 2x QoQ, 4.1x YoY 。 Operating expenses 84% QoQ, 84% YoY . Net loss after tax of INR 346 mn in Q2FY23 vs INR 479 mn in Q1FY23 and INR 187 mn in Q2FY22 Domestic daily pax over 55-60% of pre-Covid level; international pax over 15% in Q2FY23 Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 22 22#24INR mn Cebu Airport - Operational & Financial Highlights Constant Currency CAR (figures in INR mn) Reported Q2FY2022 Q1FY2023 Q2FY2023 H1FY2022 H1FY2023 Q2FY2022 Q1FY2023 Q2FY2023 H1FY2022 H1FY2023 Revenues 170 303 572 333 874 170 292 551 333 843 EBITDA (72) 60 534 (167) 593 (72) 57 514 (167) 572 PAT (187) (498) (359) (708) (856) (187) (479) (346) (708) (826) . Q2FY23 Revenue 89% QoQ; Pax growth ▲2.2x QoQ, 3.3x YoY in constant currency terms 5.5x YoY; Air traffic movement 。 Operating expenses 84% QoQ, 84% YoY H1FY23 Passenger Traffic increased 349% YOY 2x QoQ, 4.1x YoY H1FY23 Revenues increased 153% YOY ■Domestic International 0.5 01 0.4 H1FY2022 Note: Financials are at 100% level ▲ 219% (mn pax) 2.1 0.2 1.9 333 ▲ 366% 227 H1FY2023 ■Aero 105 H1FY2022 Non-Aero ▲ 82% (INR mn) 843 415 307% 428 H1 FY2023 Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 23#25Key Highlights - Q2FY23 GAR Crete Airport (Greece) • Project is fully funded mainly through State Grant which is already received and Airport Modernisation & Development Tax. It is a debt free Project ~93% of Earth Works completed on Airport side. Works progressing in multiple fronts of Runway, Taxiway, Apron, Parking area, Fire station and other buildings Terminal Building concreting works are in progress for base slab, foundation and columns Flood protection works are in progress in both Airport and Access roads 15.9% of physical progress achieved as of September 30, 2022 Medan Airport (Indonesia) • Traffic recovery driven by steady growth in both domestic and international traffic. Domestic traffic recovered to 81% of 2019 level and international traffic recovered to 75% of 2019 level in October 2022. Overall, total traffic has recovered 79% Ministry of Transport, Indonesia has approved increase in Passenger Service charges (PSC). Domestic PSC has been increased by 27% and International PSC has been increased by 16% w.e.f August 1, 2022 Currently, connected with 18 domestic destinations and 6 international destinations Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 24 24#26Well Placed to Build on Adjacencies GAR Humility | Entrepreneurship | Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual#27+ Building on its existing capabilities, GAL plans to focus on creating an asset light ancillary platform... Airport development and operations Current strategy (typical airport developer) Self operated Future strategy (expanding presence across value chain) Self operated GAR Airport ancillary businesses Concessioned out to operators Self operated (minority operating partners) GAL has identified potential opportunities in certain ancillary businesses and has gained operational expertise from JVs / partners Airport development and operations Airport ancillary businesses - non-regulated, high growth potential, & asset light 4 Concession Build Operate owner F Non-Aero businesses Commercial businesses Ⓒ = Engineering & A maintenance services Value add services " Engineering O&M المهم Previous area of focus ZZZ Growing array of services Opportunity areas already identified and ongoing Cargo Duty free Car park F&B Retail Advertising & promotions Loyalty programs, digital, analytics, payment gateway etc. EPC & Engineering PMC maintenance Airport O&M Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 26 26#28...in a phased manner targeting opportunities across both own network as well as external airports GAL platform growth strategy - significant progress made across all 3 phases Phase 1: Platform building Phase 2: Own/network airports GAR Phase 3: External opportunities Build and scale ancillary business platforms with presence across the airport value chain Scale platform presence across own + network airports Expand presence to external and open market opportunities Duty free platform ✓ Car park platform ✓ Cargo platform ✓ F&B business platform ✓ Won the non-aero master concession bid for the upcoming Goa airport Won the bid for the cargo business at the upcoming Goa airport ✓ Operating the duty free business at Kannur airport GMR Engineering and Management Services won an IT infrastructure bid for an airport in Kuwait Retail business platform Humility | Entrepreneurship I Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 27 27#29Poised for Breakout Growth as a Pure Airport Player Presence across most lucrative markets; Domestic and International Pax Traffic of Indian Airports grew @17.6% & 8.3% CAGR over FY14-19; India poised to rank 3rd in the world on pax traffic¹ Mature tariff regime for aero revenue driving 'Sustainable Cash Flow Profile' Non-aero component driven by strong India consumption story - A play on India's demographics and consumer story; catering to 26.8% of international arrivals Substantial embedded growth in valuable real estate parcels of over 2,000 acres GAR C О Return on capital to expand considerably with expansion capex having peaked Exploit Hub opportunities for GMR Airports Proven track record of strategic partnerships with marquee names like Groupe ADP, Fraport and Malaysia Airports Strong capabilities to expand the geographical presence by winning new airports Note: 1. Source CAPA Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility | Respect for Individual 28#30ESG Practices GAR Humility | Entrepreneurship | Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual#31ESG GAR • • • Environment DIAL became Asia Pacific's 1st Level 4+ (Transition) accredited airport and 2nd airport globally under Airport Council International's (ACI) Airport Carbon Accreditation program. Target is to achieve Net Zero by 2030 DIAL is the 1st airport registered with UNFCCC for clean development mechanism for energy efficient measures DIAL has achieved LEED NC Gold and IGBC Platinum for terminal 3 green building & Platinum Pre-Cert for Terminal 1 • DIAL achieved PEER Platinum as the first Airport globally • • • • • DIAL is the first airport in the world to achieve ISO 50001 for energy management system DIAL received ACI Asia-Pacific Green Airport recognition 2021-Platinum Level for air quality management GHIAL's terminal building is certified for “Leadership in Energy & Environmental Design" (LEED) "silver rating" by US Green Building Council GHIAL is accredited with Carbon Neutral Level 3+ certification successfully by ACI GHIAL has received ACI Asia-Pacific Green Airports Recognition 2022- Silver Level for Carbon Emission Management. Both the airports have installed onsite solar power plants (7.84 MW for DIAL and 10 MW for GHIAL) Both the airports have achieved ACI Airport Health Accreditation GHIAL produce compost from processing of food waste. GHIAL is doing rainwater harvesting at large scale and the surface water is used to minimize the municipal water intake People ** Learning and Development ✓ 77 business/corporate trainings conducted in Q2FY23 ✓ 16,944 work hours of training provided covering 1576 unique permanent employees in the Q2FY23. 35% male and 34% female employees have undergone at least one training in Q2 • • • • • • Profits ( CSR Spend (Q2FY23) - INR 26.1 mn Total beneficiaries - Over 25,000 CSR activities implemented in the thrust areas of Education, Health and Livelihoods GMRVF received Mahatma Award for Covid-19 Humanitarian efforts for its SMILE initiative being implemented at Delhi GMRVF received plaque of honour from HelpAge India for working with elderly Initiated new course in Cloud Computing at CEL-Hyderabad in partnership with Tech Mahindra Foundation Recruitment drives for various job roles such as security, ground handers, cargo, etc. organized. New housekeeping course started with VDMA. E - Auto course started in Delhi exclusively for girls in partnership with Eto Motors and MoWo Governance Strict governance principles through guided values of the organization and all the secretarial compliances in place Internal audits, MAG audits keep processes very transparent Regular Board meetings conducted to keep Board updated on all aspects . Periodic training of employees on the CoC guidelines . Risk management framework and governance process, including SOPs around risk assessment and mitigation Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 30 30#32GAR Thank You For further information, please visit Website: www.gmrgroup.in_or Contact: [email protected] GAR Humility | Entrepreneurship | Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual#33GAR Annexures GAR Humility | Entrepreneurship | Teamwork and Relationships | Deliver the Promise I Learning and Inner Excellence | Social Responsibility I Respect for Individual#34Particulars Profitability Statement (Consolidated) Financial Performance Delhi Airport (Standalone) Annexures No. A B Hyderabad Airport (Standalone) с GAR Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 33 33#35Annexure A: Profitability Statement (Consolidated) INR mn Q2FY2022 Q1FY2023 Q2FY2023 H1FY2022 H1FY2023 Gross Revenue 10,339 14,440 15,884 19,530 30,324 Less: Revenue Share 730 4,137 4,622 1,596 8,759 Net Revenue 9,609 10,303 11,262 17,934 21,565 Total Expenditure 4,644 6,018 6,535 9,404 12,553 EBITDA 4,965 4,285 4,727 8,530 9,012 EBITDA margin 52% 42% 42% 48% 42% Other Income 922 1,974 1,637 1,814 3,611 Interest & Finance Charges 5,195 5,171 5,614 9,669 10,785 Depreciation 2,107 2,191 2,547 4,151 4,738 PBT before exceptional items (1,414) (1,103) (1,797) (3,477) (2,900) Exceptional Income/(Expense) (3,252) (3,252) PBT (4,666) (1,103) (1,797) (6,728) (2,900) Tax 662 260 295 211 555 Profit after Tax (PAT) (5,328) (1,362) (2,093) (6,939) (3,455) Add: Share in Profit / (Loss) of JVS / Associates PAT from Continuing Operations 311 (5,017) 232 (1,130) (1,950) 142 122 375 (6,818) (3,080) Add: Profit/ (Loss) from Discontinued Operations 3,325 1,947 Add: Other Comprehensive Income (OCI) 528 (3,627) (4,762) 197 (8,389) Total Comprehensive Income (1,164) (4,757) (6,712) (4,674) (11,469) Less: Minority Interest (MI) (1,612) (1,556) (6,796) (2,117) (8,352) Total Comprehensive Income (Post MI) 447 (3,202) 84 (2,557) (3,117) GAR Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 34#36Particulars Annexure B : Delhi Airport (Standalone) INR mn Q2FY2022 Q1FY2023 Q2FY2023 H1FY2022 H1FY2023 Aero Revenue 1,364 2,194 2,207 2,441 4,401 Non Aero Revenue 3,746 5,256 5,994 7,042 11,250 CPD Rentals 1,666 1,416 1,406 3,510 2,822 Gross Revenue 6,776 8,866 9,607 12,993 18,473 Less: Revenue Share 658 4,015 4,487 1,475 8,502 Net Revenue 6,118 4,851 5,120 11,517 9,971 Operating Expenditure 2,318 2,697 2,824 4,563 5,521 EBITDA 3,801 2,154 2,296 6,954 4,450 EBITDA margin 62% 44% 45% 60% 45% Other Income 212 830 494 422 1,324 Interest & Finance Charges 2,507 1,924 2,021 4,525 3,945 Depreciation 1,338 1,440 1,758 2,655 3,198 Exceptional Income/(Expense) (3,252) (3,252) PBT (3,084) (380) (990) (3,054) (1,370) Tax 74 (3) Profit after Tax (PAT) (3,158) (380) (990) (3,051) (1,370) Other Comprehensive Income (OCI) 98 (2,019) (2,722) 243 (4,741) Total Income (Including OCI) (3,060) (2,399) (3,712) (2,808) (6,111) Humility | Entrepreneurship I Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 35 35 GAR#37Annexure C: Hyderabad Airport (Standalone) INR mn Q2FY2022 Q1FY2023 Q2FY2023 H1FY2022 H1FY2023 Aero Revenue Non Aero Revenue 922 1,788 1,893 1,537 3,681 619 958 1,040 1,023 1,998 Gross Revenue 1,541 2,746 2,933 2,559 5,679 Less: Revenue Share 70 118 129 119 247 Net Revenue 1,470 2,628 2,804 2,441 5,432 Operating Expenditure 978 1,056 1,148 1,915 2,204 EBITDA 493 1,573 1,656 525 3,228 EBITDA margin 33% 60% 59% 22% 59% Other Income 252 244 349 504 594 Interest & Finance Charges 661 667 752 1,292 1,419 Depreciation 558 555 597 1,076 1,152 Exceptional Income/(Expense) PBT (474) 595 656 (1,339) 1,251 Tax (164) 214 233 (456) 447 Profit after Tax (PAT) (311) 381 423 (883) 804 Other Comprehensive Income (OCI) (4) (567) (1,170) 83 (1,738) Total Income (Including OCI) (315) (187) (747) (800) (934) GAR Humility | Entrepreneurship | Teamwork and Relationships I Deliver the Promise I Learning and Inner Excellence I Social Responsibility I Respect for Individual 36