#1TATA POWER The Tata Power Company Limited Lighting up lives FINANCIAL RESULTS Q4 FY23 4 MAY 2023 TATA#2TATA POWER Disclaimer TATA This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any jurisdiction or as an inducement to enter into investment activity. No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This document is not financial, legal, tax or other product advice. This presentation should not be considered as a recommendation to any investor to subscribe for, or purchase, any securities of the Company and should not be used as a basis for any investment decision. 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Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in the Company's business, its competitive environment, information, technology and political, economic, legal and social conditions in India. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward-looking statements. In addition to statements which are forward looking by reason of context, the words 'anticipates', 'believes', 'estimates', 'may', 'expects', 'plans', 'intends', 'predicts', or 'continue' and similar expressions identify forward looking statements. tatapower.com 2#3TATA POWER Agenda tatapower.com ΤΑΤΑ 04 About Tata Power 10 Sustainability: Manifesting a Greener Tomorrow 16 Industry Highlights 20 Business Highlights 26 Operational & Financial Highlights 31 Annexures#4TATA POWER About Tata Power tatapower.com ΤΑΤΑ 4#5TATA POWER Glorious history of over 100 years... TATA • 1910: Company incorporated as Tata Hydroelectric Power Supply Company 1915:1st Hydro power generating station (40 MW) commissioned at Khopoli, followed by Bhivpuri (1922) and Bhira (1927) 2001: Commissioned first wind asset of 17 MW at Supa Maharashtra 2002: Takes over distribution of Delhi, later renamed as TPDDL a JV between Tata Power (51%) and Delhi Government (49%) ⚫ 2003: Tata Power enters into a JV with PGCIL, to develop a 1,200 Km long transmission line to bring electricity from Bhutan to Delhi Commissioned first solar asset of 3 MW at Mulshi Maharashtra Unit 1 of 525MW Maithon Power Limited (MPL) commissioned 2014: Entered into agreement to sell 30% stake in Arutmin for US$401Mn 2015:Commissions the 126MW Dagachhu Hydro Power Corporation in Bhutan Resurgent Power Ventures acquires 75.01% equity stake of Prayagraj Power Generation Limited (PPGCL) Announces sale of South African JV Cennergi for US$84mn Tata Power wins bid for installation of 105MWp largest floating solar plant in Kayamkulam, Kerala Takes over distribution in North Eastern Odisha, Western and Southern Odisha. TPNODL, TPWODL and TPSODL formed as JV between Tata Power (51%) and Odisha Government (49%) Tata Power secures PLI for 4GW Cell and Module facility in Tamil Nadu TPREL received second tranche of 2,000 crores and issued compulsorily convertible preference shares (CCPS) which will result in further dilution of 5.37% equity stake of Tata Power in TPREL 1910-1955 tatapower.com 1956-2000 2001-2005 2007 • 1956-65: 3 units of 62.5 MW each and 4th thermal unit of 150 MW capacity at Trombay commissioned 1977: 150MW pumped storage at Bhira upgraded ⚫ 1984: 500 MW-5th Unit established at Trombay, to supply uninterrupted supply to Mumbai 1991: 1st Solar cell manufacturing capacity is set up by TPSSL in collaboration with BP Solar 2011 Tata Power completes acquisition of 30% stake in Indonesian Coal Mines: KPC Arutmin & Indo Coal for US$1.15Bn Tata Power - Mundra signed PPA with 5 states (Gujarat, Maharashtra, Punjab, Haryana & Rajasthan) ⚫Industrial Energy Limited (IEL), a JV formed between Tata Power (74%) and Tata Steel (26%) to meet power requirements for Tata Steel 2012-2013 2014-2015 2016-2017 • 2012:Commissioned 2nd unit of 525 MW in MPL ⚫ 2013:5 units of 800 MW each at Mundra UMPP commissioned, the first super critical technology in India ⚫ 2013: Tata power acquires 26% share in the Indonesian coal mine BSSR for US$ 152 million 2018-2019 2020 2016: Acquired 1,010MW operational RE assets of Welspun, renamed it to Walwhan Renewable Energy Ltd (WREL). 2016: Resurgent Power JV formed by Tata Power and ICICI Venture to acquire stressed assets in Indian Power Sector. Tata Power holds 26% stake in Resurgent Power" 2017: Tata Power Ajmer Distribution Limited (TPADL) is formed to take over supply and distribution of Ajmer 2021 Tata Power sells 3 ships for US$ 213Mn 2,600 crore; Tata Sons infuse raise promoter holding to 47% from 37% Completed sale of Defence business to Tata advanced Systems Ltd. for 1076 cr. Tata power takes over distribution in Central Odisha TPCODL formed as JV between Tata Power (51%) and Odisha Government (49%) • 2022 2023 Mundra (CGPL) amalgamated into Tata Power ⚫ Tata Power Renewable Energy Limited (TPREL) enters into an agreement to raise 4,000 (US$ 525 million) crores by issuing shares to a consortium of Blackrock and Mubadala Resurgent announces acquisition of 100% stake in NRSS XXXVI Transmission Ltd. and SEUPPTCL (Transmission Company) 5#6TATA POWER TATA ... to become India's most Vertically Integrated Power Company TATA POWER COMPANY LIMITED (TPCL) FY2023 Revenue 56,033 EBITDA 10,068 Net Debt 35,328 PAT*** 3,810 THERMAL GENERATION, COAL & HYDRO Maithon (MPL) IEL Rithala PT CKP Revenue 18,211 EBITDA 2,907 PAT 3,649 Revenue 8,197 THERMAL CAPACITY Mundra 4,150 MW FUEL Coal STAKE 100% Trombay 930 MW Coal/Gas 100% 1,050 MW Coal 74% Prayagraj (PPGCL)* 1,980 MW Coal 20% Jojobera 428 MW Coal 100% Haldia 120 MW Coal 100% Hybrid Coal/ EV CHARGING 483 MW 74% WHRS Public Chargers 108 MW Gas 51% Home Chargers 54 MW Coal 30% E-Bus Chargers RENEWABLES^ EBITDA 3,203 PAT 730 Revenue 34,532 TRANSMISSION & DISTRIBUTION ELIMINATIONS/OTHERS (INCL. CORPORATE TAXES, EXPENSES AND INTEREST) EBITDA 3,819 PAT 1,251 Revenue (4,907) EBITDA 139 PAT (1,820) RE GENERATION Solar Power Wind Energy UNDER CONSTRUCTION Solar Power CAPACITY 2,995 MW 932 MW DISTRIBUTION LICENSE CUSTOMERS STAKE ENTITY Mumbai 0.76 Mn 100% Tata Power Delhi (TPDDL) Odisha 1.96 Mn CAPACITY 1,295 MW 1,410 MW DISTRIBUTION 10.06 Mn CUSTOMERS 51% 51% Tata Projects Nelco Corporate BUSINESS MODEL EPC STAKE 48% Communication 50% STAKE FRANCHISE CAPACITY Ajmer (TPADL) 0.16 Mn 100% 3,778 38,899 234 POWER TRADING COMPANY TPTCL STAKE 100% TRANSMISSION CIRCUIT KM STAKE INDONESIA COAL MINES & INFRA MINE CAPACITY STAKE Kaltim Prima (KPC) 60 MT 30% TATA POWER SOLAR SYSTEMS LIMITED (TPSSL) PARTICULARS CAPACITY/ Mumbai 1,264 100% Powerlinks 2,328 51% BSSR & AGM 18 MT 26% ORDER BOOK SEUPPTCL 600 26% NRSS XXXVI 1.5 26% NTP (Coal Infra) 30% Utility Scale Solar EPC *17,468 Cr UNDER CONSTRUCTION TERPL (Coal Shipping)" 100% Rooftop EPC *1,903 Cr SEUPPTCL 900 HYDRO CAPACITY STAKE Cell & Module Capacity 530 & 670 MW NRSS XXXVI 151.5 26% 26% Bhira 300 MW 100% Bhivpuri 75 MW 100% Khopoli 72 MW 100% TP SOLAR: UNDER CONSTRUCTION Cell & Module Dagachhu 126 MW 26% 120 MW 187 MW 50% 50% Itezhi Tezhi Adjaristsqali CAPACITY 4,000 MW (each) Resurgent owns 75% in Prayagraj | "TERPL is a wholly owned subsidiary of Tata Power International Pte Ltd., which is wholly owned by Tata Power. | Before Minority Interest | Tata Power currently owns 93.94% stake in Renewables (Tata Power Renewable Energy Ltd.) JVs and Associates Standalone Divisions Subsidiary tatapower.com 6#7TATA POWER Generation assets located across India... tatapower.com 15 14 8 19 5 18 3 4 9 11 7 12 6 10 16 17 2 13 20 PARTICULARS DOMESTIC TATA 1. Andaman & Nicobar 2. Andhra Pradesh 3. Assam CAPACITY (MW) 0.2 Capacity Mix (Domestic + International) 305.6 4. Bihar 5. Delhi 6. Goa 0.2 41.0 111.2 14,110 MW 8,860 MW Total Thermal 7. Gujarat 8. Haryana 0.7 4,988.5 1.5 880 MW 443 MW Hydro Waste Heat Recovery /BFG 9. Jharkhand 1,732.3 10. Karnataka 620.0 11. Madhya Pradesh 174.0 932 MW 12. Maharashtra 2,139.4 Wind 2,995 MW Solar 13. Odisha 242.9 14. Punjab 36.0 15. Rajasthan 630.2 16. Tamil Nadu 370.3 17. Telangana 17.5 63% 18. Uttar Pradesh 2,082 19. Uttarakhand 7 20. West Bengal 123.0 Grand Total 13,623 Distribution of installed capacity (Domestic & International) O 37% 6% 3% 21% O 7% Thermal Clean and Green Solar Wind Waste Heat/BFG Hydro 7#8TATA POWER ... as well as few Global location PARTICULARS 1. 2. 3. 4. Dagachhu, Bhutan (Hydro) Adjaristsqali, Georgia (Hydro) PT CKP, Indonesia (Thermal) Itezhi Tezhi, Zambia (Hydro) Grand Total tatapower.com SUM OF PRESENT CAPACITY (MW) 126 187 54 120 487 2 3 TATA 8#9TATA POWER TATA Clean & Green to account for 47% capacity post project completion Tata Power Capacity (IN MW) Current Operational Capacity share (IN %) 1,410 16,779 3 21 1,259 443 14,110 2,995 Thermal Hydro 7 63 Wind 6 Solar WHRS/BFG* 8,860 880 932 明明 Thermal Hydro Wind Solar WHRS Operational Solar Pipeline Hybrid Pipeline tatapower.com Total Capacity share post completion of projects (IN %) 8 3 25 00 6 5 *WHRS: Waste Heat Recovery System BFG: Blast Furnace Gas 53 35 Thermal Hydro Wind Solar WHRS/BFG* Hybrid 9#10TATA POWER Sustainability: Manifesting a Greener Tomorrow Carbon Net Zero BEFORE 2045 Water Neutral BEFORE 2030 LV A Zero Waste to Landfill BEFORE 2030 tatapower.com TATA 10#11REPORT / FINANCIAL YEAR 2022 TATA 2021 2020 2019 Tata Power's Sustainability Aspirations Meaningful improvement in ESG ratings TATA POWER 2018 Become carbon net zero before 2045 Become water neutral before 2030 • Zero waste to landfill . • before 2030 No Net Loss to Biodiversity Leverage technology to create the 'Utility of the Future' (lot, Smart Grids, BESS, Green H2, robotic panel cleaning etc.) • Education - Train 35 lakh youth as conservation and STEM education champions by 2027 Employability and Employment 20 lakh+ youth trained and made employable by 2027 • Entrepreneurship - Enable 1 lakh community • collectives (Self Help Groups) by 2027 Improve overall gender diversity ratio to 18% by 2027 Improve Sustainability Disclosures and get listed in DJSI Emerging Markets list by 2027 CDP Climate Change B C C D D CDP Water B B C F DJSI FL 67 67 48 15 MSCI BBB BB BB BB BB Sustainalytics 41.2 38.6 tatapower.com 11#12TATA POWER ESG Performance @Tata Power PARTICULARS DESCRIPTION BASELINE TARGET ON GOING ACTIONS TATA VALUE (FY22) YEAR VALUE YEAR Clean & Green Portfolio 16%* 2015 80% 2030 • • Net Zero 40.7 Million Tonnes 2022 100% 2045 (Absolute Carbon Emissions) • • ENVIRONMENT • Water Neutral 64.7 Billion litres 2022 100% 2030 (Fresh Water Consumption) Zero Waste to Landfill Total Non HW Waste (including Ash) Education • 6.05 Million Tonnes 2022 100% 2030 5.3 Million Tonnes 37.06% RE portfolio as of March 2023 SBTi Commitment Renewable Portfolio Growth Thermal plant phase-out plan Annual plantation of more than 1 million saplings 3% Fresh Water reduction 17% Rain Water Harvesting 80% by offsets Waste utilisation of Ash Waste Management Plan for biodegradable waste, plastic, and e- waste 1.9 Million beneficiaries 2022 3.5 Million 2027 1.4 Million CSR beneficiaries outreach achieved in FY2022 3,380 Million CSR spend in FY2022 SOCIAL Employability & Employment Entrepreneurship 0.38 Million beneficiaries 2022 2.0 Million 2027 2,182 beneficiaries 2022 100,000 2027 Gender Diversity (%) 8% - 2022 18% 30% Campus hires 2027 GOVERNANCE DJSI Emerging Markets List (Absolute Score) 67/100 • 2022 80/100 2027 Women employees across roles Policies supporting women in all life stages and mentorship program ESG Action Plan and Gap Analysis * Base Year 2015 for Clean & Green Portfolio in alignment with Paris Agreement tatapower.com 12#13TATA POWER Strong Governance Framework Sustainability Framework- Governance Tata Power has a well-established sustainability governance structure to benchmark, implement, and monitor sustainability aligned decisions and actions. The CSR and Sustainability Committee at Board level guides strategy and the Apex Leadership Team enables impactful implementation. Leadership and Oversight on Sustainability LEADERSHIP WITH CARE Care for our environment (society at large) Environment conservation • Efficient use of energy ⚫ Investment in green technology Care for our shareholders and customers Care for our community Care for our people New technology tatapower.com Advocacy TATA CSR & Sustainability Board Committee Apex Leadership SBU Heads Corporate Sustainability Team Sustainability SPOCS Thermal, T&D, Hydros, Renewables, HR, CSR, Ethics, IA & RM, Environment, etc. Institutional Structures and Systems INITIATIVES THAT ARE BASED ON, AND ARE ENCOMPASSING What needs to be done (material to both, 5 stakeholders and us) What we are good at doing and is linked to our business objectives What we should take up as national thrust areas for development What we should define as our standards, from compliance, to competing, to leading Going beyond compliance Architecture of Care 13#14TATA POWER Transitioning to non-fossil fuel-based generation by FY 2045 Leading utility transition to clean energy by Evolving generation mix (%) Over 1/3rd of Tata Power's generating capacity comes from clean and green energy sources like solar, wind and hydro. We are facilitating this clean energy transition through new technology adoption in collaboration with our customers and partner. We aim to phase-out of all coal- based generation and become Carbon net zero before 2045. tatapower.com TATA Leading utility transition to clean energy by evolving generation mix (%) 16% 2015 84% 2045 100% 37% 2023 63% Thermal Clean & Green 14#15TATA POWER Empowering Communities CSR Mission To work with communities in the vicinity of our operations or as specially identified, to gain their acceptance of co-existence by addressing salient development imperatives The key interventions for target communities are focused in the following thematic areas; 30 Mn TOUCHING LIVES 10 P A Education Employability Entrepreneurship & Employment Essential Enablers Public Private Partnerships (Collaboration & Leverage) TATA 80+ DISTRICTS IN 15 STATES **Tata Power has made a major leap in the CSR ranking by securing a spot in top 10 as against its 57th rank in the last year TATA POWER CLUB arpan ENERJI HOY YOUR AD PAY AUTENTION 6-Vidya डिजिटल सूचना केंद्र urja Need the logos आभा ROSHNI TREE MITTRA अनोखा DHAAGA Powering Transforming Improving access & creating opportunities Far Reaching Impact on Community and Co-ownership Optimal Utilization of Resources (Premises) Green Jobs Technology Enablement "Source: https://www.futurescape.in/responsible-business-rankings/ | https://thecsrjournal.in/top-100-companies-india-csr-sustainability-2021/ tatapower.com Institutionalisation & Standardization Tree Mittra leveraged for social afforestation 15#16TATA POWER Industry Highlights TATA tatapower.com 16#17TATA POWER TATA Strong Correlation between GDP and Power Demand Growth India has one of the lowest power consumption per capita (IN UNITS) 30,000 Ratio of Power Growth to GDP growth has increased in the past 5 years Monthly Energy Requirement (IN BUS) 1.11x 1.2x 155.0 All India Coal-Based Generation Plants' PLF at 68% (IN %) 85% 25% 25,000 20,000 6.0% 5.7% 5.0% 0.94x 5.3% 4.0% 15,000 3.0% 10,000 5,000 0 India Brazil UK China Germany France Russia Japan US Canada Norway Data represents per capita power consumption for CY22 Source: ember-climate.org tatapower.com 2.0% 1.0% 0.0% Past 10 years 80% 78 135.0 1.0x 20% 75% 115.0 4.4% 71 0.8x 15% 4.0% 95.0 70% 68 Past 5 years 0.6x 75.0 10% 65% 0.4x 55.0 35.0 0.2x 15.0 0.0x -5.0 Mar-23 Power Generation BUS are provisional in nature FY23 GDP calculated based on growth rate figures as per RBI FY22 GDP are advanced estimates of RBI GDP Growth (CAGR) Power Generation Growth (CAGR) --Power Gen growth GDP growth (RHS) Source: RBI & Powermin May 22 Apr 22 Jun 22 Mar-23* Feb 23 Jan 23 Dec 22 Nov 22 Oct 22 Sep 22 Aug 22 Jul 22 Energy Requirement - YoY Growth Source: CEA 5% 60% 9000 55% 0% 50% -5% Jan 23 Dec 22 Nov 22 Oct 22 Sep 22 Aug 22 Jul 22 Jun 22 May 22 Apr 22 Central Sector -- Private Sector Source: NPP 20 67 Mar-23* Feb 23 All India State Sector 17#18TATA Renewable Energy accounted for 93% of capacity additions in FY23 Total Installed Capacity in India stands at ~416GW 3.8GW added in Mar-23; 79% Renewable (IN GW) 16.5GW capacity added in FY23 Renewable (incl. Hydro) accounted for 93% of FY23 capacity additions (IN MW) (IN %) TATA POWER 4.0 543 0.0 368 3% 120 55% 3% 54% 6% 46% 2% 45% 2% 80% 1% 77% 3.5 11 781 3.0 67 9,363 403 292 2.4 2.5 6,447 13,911 12,784 5,458 2.0 237 1.5 52 6,529 1,766 2,068 921 0.6 1.0 1,580 213 390 1,553 614 43 0.5 0.0 13% 15% 10% 13% 5% 3% 5% 2% FY21 FY22 FY23 2,276 14% 0.8 4,577 3,372 4,321 4,129 1,111 576 1,380 6% 3% 223 1,160 27% 28% 31% 34% 8% 1% 7% Thermal Nuclear Hydro (incl. small Hydro) Wind Solar Source: CEA tatapower.com FY18 Other Renewable (Biomass, Waste to Energy) 18#19Coal Prices (US$/t) TATA Solar Module and Thermal Coal prices have been declining lately Price Movement of Polysilicon & Wafer Price Movement of Cell & Module TATA POWER 30 20 15 10 42222225 40 35 0 1.2 0.33 0.28 0.8 0.23 0.6 0.18 40 0.4 0.13 0.2 0.08 0 Mar-2023 Dec-2022 Sep-2022 Jun-2022 Mar-2022 Dec-2021 Sep-2021 Jun-2021 Mar-2021 سحر 0.03 Mar-2023 450 400 350 300 250 200 150 100 50 Mar-2023 Jan-2023 Feb-2023 Dec-2022 Aug-2022 Sep-2022 Oct-2022 Nov-2022 Jul-2022 Jun-2022 May-2022 Apr-2022 Mar-2022 Feb-2022 Jan-2022 Dec-2021 Nov-2021 Oct-2021 Sep-2021 Aug-2021 Jul-2021 Jun-2021 Jun-2021 May-2021 Apr-2021 Cell (US$/piece) South African Coal Australian Coal (6000 kcal/kg) (6300 kcal/kg) Dec-2022 Sep-2022 Jun-2022 Mar-2022 Dec-2021 Sep-2021 Jun-2021 Mar-2021 Dec-2020 Sep-2020 Jun-2020 Mar-2020 - Polysilicon (US$/kg) Wafer RHS (US$/piece) Dec-2020 Sep-2020 Jun-2020 Mar-2020 Source: Bloomberg tatapower.com Modules (US$/Watt) 19#20TATA POWER Business Highlights tatapower.com ΤΑΤΑ 20 20#21TATA POWER Q4 FY23 Highlights Scheme of amalgamation of TPSSL and WREL into TPREL finalized TATA TPSSL receives Letter of Award (LoA) of ₹1,755 crore to set up 300MW Solar project for NLC India Limited in Rajasthan TPREL has received LoA from MSEDCL, to set up a 200 MW solar PV project in Solapur, Maharashtra S&P Global ratings has upgraded Consolidated Credit Rating from BB to BB+ with Stable Outlook and Standalone Credit Rating from BB- to BB ADB & TPDDL Sign Deal to Enhance Delhi's Power Distribution Through Grid Enhancements and Battery Energy Storage System Awarded India's Best Annual Report Award by Free Press Journal and Grant Thornton for 2021-22 Tata Power adjudged 'Best Performing Transmission Utility' at Central Board of Irrigation and Power (CBIP) TPREL receives final tranche of *2,000 Cr against preferential allotment of shares to Blackrock & Mubadala TPREL signs PPA for 510 MW with TPDDL. It is one of the largest hybrid projects (170 MW solar and 340 MW wind) in the country which is an extension of the earlier LOA of 255 MW Tata Power to install EV Charging points at GAIL Gas Stations in Bengaluru tatapower.com Pov Dhi Disut 21#22TATA POWER Solar Utility Scale EPC Update tatapower.com WELL DIVERSIFIED UTILITY SCALE ORDER BOOK TATA TPSSL- Large EPC Order Book (IN CRORE) 3,437 17,468 1,409 BUSINESS UPDATES Project of 1.3 GW executed in FY 2023 New orders of 2.7 GW won in FY 2023 Activities picked up at all 4 phases for 1GW SJVN project CUSTOMER AC CAP (MW) Tata Power Group 1,700 15,440 NTPC 470 NHDC 88 SECI 140 SJVN 1,000 NHPC 340 NLC 300 Total capacity as on 31st March 2023 4,039 Order book at the end Orders received Order Book as on 17,468 of Q3 FY23 in Q4 31st March 2023 (** Crore) Q4 Revenue Order book at the end of Q4 FY23 22#23TATA POWER Tata Power - EZ Charge TATA POWER EZ CHARGE THE FUTU EV CHARGER MICHELIN tatapower.com CHARGING STATION 1500 OPERATIONAL HIGHLIGHTS Public and Captive Chargers (Energised) EV CHARGING PLATFORM STATISTICS 127k+ Registered Users 3,080 698 109 18 Cities and towns covered 650k+ Charging Sessions 493 62 500 150 E4W Home Chargers Units Consumed (in MUs) 30,437 8,462 5.5 1.5 25 million minutes of Charging Session 19 6 Cumulative E-mobility Supported (in million km) Cumulative till Dec 2023 Q4 FY23 39 11 TATA BUSINESS HIGHLIGHTS Partnered with R CITY Mall in Mumbai, to deploy 8 chargers, including super-fast 60 kW charging points, across the mall's premises. Entered in a partnership with Coimbatore Municipal Corporation in Tamil Nadu to install 20 new fast EV Charging Stations in the city to further EV adoption. Tata Power to install EV charging points at GAIL Gas Station in Bangalore 23#24TATA POWER Solar Business - Quarter Highlights ROOFTOP SOLAR Achieved -2x revenue growth over Q3 FY23 0 • Order book at Q4 end stands at 1,900+ crore Channel network crosses 450+ across 275+ districts Q4 FY23 Billing crosses 1000 Cr mark tatapower.com Revenue (In Crore) Q4 FY23 1,097 Q3 FY23 535 Q4 FY22 687 398 MW orders won in Q4 (In%) 96% 4% Others Comm & Industrial • SOLAR PUMP 209 Revenue (In Crore) Q4 FY23 Q3 FY23 Q4 FY22 97 205 Order book as at Q4 end stands at 250+ crore. Total 33,000+ pumps billed in FY 2023. Cumulative number of pumps billed 97,000+ Pumps Billed YTD 4,094 33,066 FY 2023 Addition in Q4 TATA 243 24#25TATA POWER Odisha Discoms -Highlights REDUCING AT&C LOSSES => PROMISING GROWTH (Incl. past arrears) Achieved collection FY23 21% TP CODL efficiency of 102% in FY23 FY22 27% Achieved Collection FY23 23% TPS ODL efficiency of 102% in FY23 FY22 33% TATA FY23-STRONG OPERATIONAL PERFORMANCE ACROSS ALL DISCOMS THEFT LOAD (MW) METERS REPLACED (in lakhs) SUBSTATIONS AUTOMATED (No's) PRE-TAKEOVER ARREARS COLLECTED (*Crs) 109 2.4 204 87 .... 54 1.5 100 104 FY23 18% Achieved collection TPWODL efficiency of 100% in FY23 102 1.8 128 131 FY22 28% TPNODL Achieved collection efficiency of 106% in FY23 FY23 11% 101 3.1 105 321 FY22 23% tatapower.com 25#26TATA POWER Operational & Financial Highlights ..til ΤΑΤΑ tatapower.com 40 26#27TATA POWER Q4 FY23 Operational Highlights Generation - Availability IN % IN % 92 81 79 27 81 15 98 98 98 98 99 100 100 100 97 H Plant Load or Capacity Utilization Factor IN % 67 75 66 25 39 37 34 35 12 12 10 8 25 23 21 TATA AT&C Losses - Distribution 0.5 0.5 0.4 9.5 8.4 8.0 7.4 6.8 6.3 Thermal (excl. Mundra) Mundra MO Hydro WIND SOLAR Thermal (excl. Mundra) Mundra MO Hydro WIND SOLAR MO- Distribution TPDDL TPADL Q4 FY 23 Q3 FY 23 Q4 FY 22 tatapower.com 27#28TATA POWER FY23 Operational Highlights Generation Availability IN % - IN % 89 88 29 66 99 98 98 98 100 100 Plant Load or Capacity Utilization Factor IN % 74 73 25 32 41 40 22 23 20 19 H TATA AT&C Losses - Distribution 0.4 0.5 6.8 6.3 9.5 Thermal (excl. Mundra) Mundra MO Hydro WIND SOLAR Thermal (excl. Mundra) Mundra MO Hydro WIND SOLAR MO- Distribution TPDDL TPADL FY 23 FY 22 tatapower.com 8.0 28#29TATA POWER Financial Highlights Revenue Record FY23 for Tata Power with all time high EBITDA and PAT EBITDA Reported PAT (after exceptional items) Q4 FY23 12,755 Q4 FY23 Q3 FY23 14,339 Q3 FY23 Q4 FY22 12,085 Q4 FY22 Revenue FY23 EBITDA 56,033 FY23 FY22 42,576 tatapower.com FY22 TATA PAT (before exceptional items) 3,101 Q4 FY23 939 Q4 FY23 939 2,818 Q3 FY23 1,052 Q3 FY23 1,052 2,253 Q4 FY22 916 Q4 FY22 632 *Reported EBITDA includes other income PAT (before exceptional items) 10,068 FY23 8,192 FY22 2,440 *Reported EBITDA includes other income Reported PAT (after exceptional items) 3,810 FY23 FY22 2,156 3,810 29#30TATA POWER Comfortable Debt Position For Sustainable Growth Net Debt (IN CRORE) Q4 FY23 Q3 FY23 Net Debt Declines Further in Q4 FY23 (IN CRORE) Q4 FY22 TATA 35,328 38,131 38,131 39,708 1,242 35,471 -1,925 1,857 35,328 -567 -1,357 -53 -2,000 Balance Sheet Continues to Strengthen Q3 FY23 Net Debt Cash from Operations Income from JVs WC Changes Others Interest Business as Payment & Usual Debt others Equity Infusion Capex Q4 FY23 Net Debt 2.66 3.92 4.09 4.70 CRISIL ICRA 5.19 India Ratings 5.68 CARE S&P Global Moody's Net Debt to Underlying EBITDA FY23 1.03 FY22 1.53 FY21 1.43 FY20 1.99 FY19 2.19 FY18 2.42 Net Debt to Equity tatapower.com 2020-21 2021-22 AA/Stable AA- /Positive AA /Stable Current AA/Stable AA /Stable AA /Stable AA /Stable AA /Stable AA /Stable AA /Stable AA /Stable Credit Ratings (Consolidated) 2019-20 AA- /Positive AA-/Stable AA/Stable AA /Stable B+ /Positive Ba3/Stable AA/Stable BB /Stable Ba2/Stable BB+ /Stable Ba2/Stable 30 30#31TATA POWER Annexures tatapower.com TATA 31#32Tata Power (Standalone) Delhi Discom (TPDDL) TATA POWER Particulars Consolidated before exceptional items Standalone & Key Subsidiaries Maithon Power (MPL) * ** Consolidated Performance – Q4 FY23 - - Op Income EBITDA^^ PAT Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 12,755 12,085 3,101 2,253 939 916 3,194 3,214 1,022 2,243 142 1,912 656 635 186 172 80 72 2,302 2,159 305 352 99 112 Power Trading (TPTCL) 52 120 25 16 18 12 Tata Power Solar (TPSSL) 2,958 3,481 285 77 155 28 TPREL Standalone (Renewable Power) 403 498 418 529 54 129 WREL (Renewable Power) 267 391 259 377 108 155 Coal SPVS incl. TPIPL (Investment Companies) 0 0 500 34 395 (43) TERPL (Shipping Co) 161 192 60 40 38 11 TP Central Odisha Dist Ltd (TPCODL)** 1,213 962 139 85 35 9 TP Southern Odisha Dist Ltd (TPSODL)** 488 465 51 49 8 31 TP Western Odisha Dist Ltd (TPWODL)** TP Northern Odisha Dist Ltd (TPNODL)** Others 1,572 1,072 163 85 41 38 904 774 139 78 61 31 312 205 108 39 14 (12) TOTAL - A 14,482 14,166 3,661 4,175 1,249 2,484 Joint Venture and Associates - - 179 296 TOTAL - B 14,482 14,166 3,661 4,175 1,428 2,780 Eliminations# (1,726) (2,081) (560) (1,922) (489) (1,864) Exceptional Items (284) TOTAL - C 12,755 12,085 3,101 2,253 939 632 Previous year numbers are restated *TPCL stake-74%; **TPCL stake-51%; # Eliminations include inter-company transactions; ^^ including other income tatapower.com ΤΑΤΑ Crore unless stated 32#33Consolidated Performance -FY23 TATA POWER Particulars Op Income EBITDA^^ PAT FY23 FY22 FY23 FY22 FY23 FY22 Consolidated before exceptional items 56,033 42,576 10,068 8,192 3,810 2,440 Standalone & Key Subsidiaries Tata Power (Standalone) 18,848 11,242 6,817 4,669 2,730 1,488 Delhi Discom (TPDDL) Maithon Power (MPL) * ** 3,029 2,782 778 702 345 281 10,625 8,849 1,306 1,330 440 439 Power Trading (TPTCL) 405 377 35 79 21 55 Tata Power Solar (TPSSL) 6,876 8,506 508 432 212 161 TPREL Standalone (Renewable Power) 1,609 1,428 1,442 1,293 96 176 WREL (Renewable Power) 1,192 1,277 1,178 1,204 506 441 Coal SPVs incl. TPIPL (Investment Companies) 0 0 511 61 (126) (223) TERPL (Shipping Co) 650 538 153 110 55 8 TP Central Odisha Dist Ltd (TPCODL)** 4,791 4,059 307 243 13 29 TP Southern Odisha Dist Ltd (TPSODL)** 2,059 1,689 164 157 33 69 TP Western Odisha Dist Ltd (TPWODL)** 6,254 4,243 316 209 91 64 TP Northern Odisha Dist Ltd (TPNODL)** 3,356 2,722 324 233 116 74 Others 1,208 901 397 205 (11) 10 TOTAL - A 60,902 48,615 14,237 10,929 4,521 3,070 Joint Venture and Associates 3,199 1,943 TOTAL - B 60,902 48,615 14,237 10,929 7,721 5,013 Eliminations# (4,869) (6,039) (4,168) (2,737) (3,911) (2,573) Exceptional Items (284) TOTAL - C 56,033 42,576 10,068 8,192 3,810 2,156 Previous year numbers are restated *TPCL stake-74%; **TPCL stake-51%; # Eliminations include inter-company transactions; ^^ including other income tatapower.com TATA Crore unless stated 33#34TATA POWER Tata Power (Consolidated) Performance ΤΑΤΑ Crore unless stated Particulars Operating Income Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 12,755 12,085 670 56,033 42,576 13,457 Var Quarter Variance Remarks Capacity addition in RE and higher sales in Discoms Operating Expenses 10,526 10,091 (435) 47,403 35,305 (12,098) Operating Profit 2,229 1,994 236 8,630 7,272 1,359 Other Income 872 259 612 1,438 920 518 EBITDA 3,101 2,253 848 10,068 8,192 1,877 Interest cost 1,196 1,015 (181) 4,372 3,859 (513) Depreciation 926 846 (81) 3,439 3,122 (317) PBT before share of Assoc & JVs 979 393 586 2,258 1,210 1,047 Share of Associates & JV's 179 296 (117) 3,199 1,943 PBT after share of JV 1,158 689 469 5,457 3,153 1,257 Higher losses in Tata Projects 2,304 Tax Expenses Net Profit for the period Exceptional item (net of tax) 219 (228) (447) 1,647 713 939 916 23 3,810 2,440 (934) Unwinding of deferred tax 1,370 (284) 284 (284) 284 Net Profit for the period * 939 632 307 3,810 2,156 1,654 * As per line item 13 in the SEBI Advt tatapower.com 34#35TATA POWER Tata Power (Standalone) Financial Performance ΤΑΤΑ Crore unless stated Particulars Operating Income Q4 FY23 3,194 Q4 FY22 3,214 Qtr Var FY23 FY22 (20) 18,848 11,242 Var Quarter Variance Remarks 7,606 Operating Expenses 2,654 2,868 214 16,116 9,561 (6,556) Operating Profit 540 346 194 2,732 1,682 1,050 Other Income EBITDA Interest cost 483 1,896 (1,414) 4,085 2,987 1,098 Lower dividend income 1,022 2,243 (1,220) 6,817 4,669 2,148 569 528 (41) 2,227 2,189 (38) Depreciation 302 287 (15) 1,167 1,134 (33) PBT 151 1,428 (1,276) 3,423 1,346 2,077 Tax Expenses 10 (485) (494) 693 (142) (835) MAT Credit written off in Q1 FY22 reversed in Q4 FY22 due to merger PAT (before exceptional 142 1,912 (1,770) 2,730 1,488 1,242 items) Exceptional item 0 (92) 92 538 1,295 (757) PAT for the period 142 1,820 (1,678) 3,268 2,783 485 PY has been restated with the merger of CGPL and Af-taab in TPCL standalone. tatapower.com 35#36TATA POWER Maithon Power Limited - Highlights ΤΑΤΑ Crore unless stated Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Quarter Variance Remarks Generation (MUs) 1,462 1,543 (81) 7,555 7,489 66 Sales (MUs) 1,437 1,453 (16) 7,455 7,215 240 Availability (%) (Plant) 69% 77% -8% 90% 93% -3% PLF % 64% 68% -4% 82% 81% 1% Financials Operating Income 656 635 21 3.029 2,782 247 Increase in power costs Fuel Costs 385 364 (21) 1,944 1,775 (169) Other Operating expenses 114 107 (7) 357 328 (29) Operating profit 157 164 (7) 729 680 49 Other Income 29 7 21 50 22 27 EBITDA 186 172 14 778 702 76 Interest cost 21 33 11 119 137 18 Depreciation 75 68 (7) 279 272 (7) PBT 90 71 19 380 293 87 Tax 10 (1) (11) 34 12 (22) PAT 80 72 8 345 281 65 tatapower.com 36#37TATA POWER Prayagraj Power Generation Co. Ltd. - Highlights ΤΑΤΑ Crore unless stated Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Quarter Variance Remarks Generation (MUs) 2,878 2,651 227 12,510 11,656 854 Sales (MU) 2,713 2,497 217 11,790 10,977 813 Availability (%) 77% 72% 5% 81% 81% 0% PLF % 67% 62% 5% 72% 67% 5% Financials Operating Income 1,062 906 155 4,424 3,863 Operating expenses 803 710 (92) 3,495 2,908 561 Higher PPA and merchant sales (588) Operating profit 259 196 63 929 955 (26) Other Income 63 140 (77) 242 347 EBITDA 322 336 (14) 1,171 1,302 (105) Late payment cess received in PY (132) Interest cost 163 174 11 691 708 17 Depreciation 50 46 (3) 197 182 (15) PBT 109 116 (6) 283 413 (130) Taxes 0 0 0 0 0 0 PAT 109 116 (6) 283 413 (130) tatapower.com 37#38TATA POWER tatapower.com Tata Power Delhi Distribution Ltd - Highlights Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Purchase (Mus) 2,059 2,036 23 10,621 9,425 1,197 Sales (Mus) 1,926 1,891 35 9,945 8,787 1,158 Revenue Per Unit 10.68 9.89 0.78 9.65 9.08 0.6 PPC Per Unit 8.56 6.80 (1.76) 7.51 6.32 (1.2) AT&C losses (%) 6.3% 6.8% 0.5% 6.3% 6.8% 0.5% Financials Operating Income 2,057 1,871 186 9,594 7,978 1,616 Power Purchase 1,543 1,385 (158) 7,470 5,957 (1,513) Other Operating Exp. 244 224 (20) 925 853 (72) Operating Exp. 1,787 1,609 (178) 8,395 6,810 (1,585) Operating Profit 270 262 8 1,199 1,169 30 Other Income 35 90 (55) 107 162 (55) EBITDA 305 352 (47) 1,306 1,331 (25) Interest cost 68 96 28 286 324 38 Depreciation 95 93 (2) 377 371 (6) PBT 141 163 (21) 642 635 7 Tax 42 50 8 202 196 (5) PAT 99 112 (13) 440 439 1 ΤΑΤΑ Crore unless stated 38#39TATA POWER tatapower.com Q4 FY23 Odisha Discoms - Highlights ΤΑΤΑ Crore unless stated Particulars Purchase (MUs) TPCODL TPSODL TPWODL TPNODL 2,134 945 3,171 1,600 Sales (MUs) 1,755 691 2,662 1,390 Revenue per unit 6.6 7.1 5.7 6.1 Power Cost per unit 3.2 2.5 4.0 3.5 Actual Technical losses (%) 23% 25% 18% 16% Actual AT&C losses (%) 21% 23% 18% 11% Vesting order Target AT&C losses (%) 24% 26% 20% 19% Income from Operation 1,213 488 1,572 904 EBITDA 139 51 163 139 PAT 35 8 41 61 39#40TATA POWER Tata Power Renewable Energy Conso (Excl WREL & CSL) - Highlights TATA Crore unless stated Particulars - Capacity Total (MW) Q4 FY23 2,861 Q4 FY22 2,333 Qtr Var FY23 FY22 527 2,861 2,333 Var Quarter Variance Remarks 529 Capacity - Wind (MW) 782 782 0 782 782 Capacity - Solar (MW) 2,079 1,551 527 2,079 1,551 0 529 Generation (MUs) 1,397 885 512 5,434 3,512 1,922 Sales (MUs) 1,380 871 509 5,351 3,445 1,906 Avg PLF (%) - Solar 27% 25% 1% 24% 24% 0% Avg PLF (%) - Wind 12% 12% 0% 19% 19% 0% Financials Operating Income 503 521 (19) 1,957 1,578 378 PY incl revenue recognised for deemed generation & other matters offset by capacity addition Operating Expenses 129 75 (54) 456 317 (139) Operating profit 374 446 (72) 1,500 1,261 239 Other income 126 93 32 244 133 111 EBITDA 499 540 (40) 1,745 1,394 350 Interest cost 267 189 (77) 952 563 (388) Higher borrowings for capacity addition & increased interest rates Depreciation 183 190 7 672 566 (106) PBT 50 161 (111) 121 265 (144) Tax (15) 47 62 21 83 62 PAT 65 114 (48) 100 182 (82) tatapower.com 40#41TATA POWER Walwhan Renewable Energy Ltd - Highlights ΤΑΤΑ Crore unless stated Particulars Capacity - Total (MW) Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Quarter Variance Remarks 1,010 1,010 0 1,010 1,010 0 Capacity Wind (MW) 146 146 0 146 146 0 - Capacity Solar (MW) 864 864 864 864 Generation (MUs) 435 441 (5) 1,674 1,676 (2) Sales (MUs) 432 437 (5) 1,658 1,663 (5) Avg PLF (%) - Solar 21% 21% 0% 19% 19% 0% Avg PLF (%) - Wind 14% 16% -2% 18% 20% -2% Financials Operating Income 267 390 (123) 1,192 1,277 (85) PY includes revenue recognised for deemed generation and tariff increase Operating expenses 34 24 (10) 149 117 (32) Operating profit 233 365 (133) 1,043 1,160 (117) Other income 41 12 29 166 44 122 DPC from TANGEDCO EBITDA 274 377 (103) 1,209 1,204 5 Interest cost 79 78 (1) 308 343 35 Depreciation 67 69 2 273 284 10 PBT 128 230 (102) 627 577 50 Tax 21 75 54 121 136 15 PAT 108 155 (47) 506 441 65 tatapower.com 41#42TATA POWER Tata Power Solar Systems Limited - Highlights ΤΑΤΑ Crore unless stated Particulars Operating Income Q4 FY23 2,958 Q4 FY22 Qtr Var FY23 FY22 3,481 (523) 6,876 8,506 Operating expenses 2,719 3,408 688 6,404 8,148 Var Quarter Variance Remarks (1,630) Planned deferment in utility scale projects 1,744 Operating profit 239 73 166 472 358 113 Other income 46 4 43 49 75 (25) Subsidy income. EBITDA 285 77 208 521 433 88 Margin 9.6% 2.2% 7.6% 5.1% Interest cost 45 24 (21) 135 157 22 Higher financing costs including interest, forex and other finance costs Depreciation 27 15 (12) 74 60 (14) PBT 213 37 176 312 216 96 Tax 58 9 (49) 90 55 (35) PAT 156 28 128 222 161 61 Margin 5.3% 0.8% 3.2% 1.9% tatapower.com 42#43TATA POWER tatapower.com Renewables - Consolidated View ΤΑΤΑ Crore unless stated Key Parameters - Renewables FY23 FY22 Revenue 8,197 7,527 EBITDA 3,203 2,882 PAT 730 685 Gross Debt 16,194 15,345 Net Debt 11,679 14,914 Net Worth 12,268 6,051 Note: EBITDA includes other income PY numbers have been restated 43#44TATA POWER Regulated - Equity And Assets Particulars Q4 FY 23 Q3 FY 23 Q2 FY 23 Q1 FY 23 Regulated Equity Mumbai Operation Jojobera 4,639 4,394 4,380 4,370 542 542 522 522 Tata Power Delhi Distribution (100%) TP Central Odisha Dist Ltd (100%) 1,931 1,861 1,846 1,839 590 504 504 504 TP Southern Odisha Dist Ltd (100%) 369 248 248 248 TP Western Odisha Dist Ltd (100%) 480 360 360 360 TP Northern Odisha Dist Ltd (100%) 398 295 295 295 Maithon Power Limited (100%) 1,666 1,671 1,669 1,661 Industrial Energy Limited (100%) 718 718 690 690 Powerlinks Transmission (100%) 468 468 468 468 Total 11,801 11,061 10,982 10,957 Regulated Assets (As per financial books) Mumbai Operation 3,500 3.193 2,908 2,620 Jojobera (9) (4) 1 9 tatapower.com Tata Power Delhi Distribution (100%) TP Central Odisha Dist Ltd (100%) TP Southern Odisha Dist Ltd (100%) TP Western Odisha Dist Ltd (100%) TP Northern Odisha Dist Ltd (100%) Maithon Power Limited (100%) Total 6,139 6,106 5,942 5,918 83 (22) 28 82 298 284 210 125 (1,227) (1,234) (1,043) (812) (8) 20 5 4 (255) (248) (253) (252) 8,521 8,095 7,797 7,694 ΤΑΤΑ Crore unless stated 44#45TATA POWER Tata Power- Debt Profile ΤΑΤΑ Crore unless stated Total Gross Debt (LT + ST) Company Quarterly movement Remarks Q4 FY23 Q3FY23 QoQ Q4 FY22 YOY Coal SPVS + TPIPL 4,722 5,275 554 4,008 (714) TPDDL 2,442 2,614 172 2,883 441 TPREL & Subsidiaries Received Rs. 2,000 cr investors money 11,727 11,940 213 10,394 (1,334) (Excl. TPSSL & WREL) and capex spend amounting to WREL 3,588 3,712 124 4,024 436 TPSSL 880 951 71 927 47 Maithon 1,615 1,638 22 1,660 45 Odisha DISCOMS 2,165 2,082 (83) 1,368 TATA Power 21,790 21,200 (591) 22,264 Others 45 74 29 Total Debt 48,974 49,484 510 63 47,590 (797) Capex related borrowings 474 Higher capex in Mumbai operations 18 (1,384) tatapower.com 45#46TATA POWER Key Segments - Debt Profile tatapower.com Consolidated Particulars Long term Short term Rupee Q4 FY23 28,097 2,611 30,708 Forex Total Q3FY23 Total Q4 FY22 Total 28,592 32,729 7,910 1,291 9,201 12,289 6,976 Current Maturity of LT 8,245 820 9,065 8,603 7,885 Total Debt 44,253 4,722 48,974 49,484 47,590 Less: Cash & Cash Equivalents 12,356 9,529 7,051 Less: Debt against dividend in Coal SPVs. 1,291 1,824 830 Net External Debt 35,328 38,131 39,708 Networth 34,204 31,063 26,028 Net Debt to Equity 1.03 1.23 1.53 ΤΑΤΑ Crore unless stated 46#47TATA POWER Thank You! www.tatapower.com INVESTOR RELATIONS TEAM: Mr. Soundararajan Kasturi Chief - Treasury & Investor Relations Email: [email protected] M: +91 82912 04022 Mr. Rajesh Lachhani Head Investor Relations Email: [email protected] M: +91 9742947821 TATA