#1SDING HOW SEARCH Adani Enterprises Ltd Q1 FY23 Earnings Presentation adani Growth with Goodness FARM-PIK adani#2AEL: Quarterly Financial Highlights - Q1 FY23 Established Businesses YoY Growth Revenue EBIDTA Consolidated Revenue 213% 30% Incubating Businesses YoY Growth Revenue 511% EBIDTA 912% Consolidated EBIDTA Consolidated PAT* INR 41066 223% Cr INR 1965 Cr INR 469 107% Cr 73% adani Established Business - [Energy & Utility - Adani New Industries Supply Chain Ecosystem, Primary Industries - Mining services & IRM] Incubating Business [Transport & Logistics - Adani Airports Holdings Ltd, Adani Road Transport Ltd & Energy & Utility - Adani Connex Data Center] • PAT attributable to Owners#3Content 01 Group Profile 02 Company Profile 03 Earnings Update 04 Update on Incubating Businesses 05 Update on Established Businesses 06 Financial Highlights 07 ESG Appendix 3#4Group Profile 4#5Adani Group: A World Class Portfolio Flagship Incubator adani -USD 170 bn1 Combined Market Cap Infrastructure & Utility Core Portfolio Energy & Utility Transport & Logistics Primary Industry Materials, Metal & Mining Emerging B2C Direct to consumer (72.3%) (60.5%) (73.9%) (65.6%) (100%) AEL AGEL Renewables ATL APSEZ NQXT² T&D Ports & Logistics (37.4%) (75.0%) ATGL APL Gas Discom IPP I I I (100%) I Cement * (100%) PVC (100%) T Copper, Aluminum | I I (100%) ANIL (50%) AdaniConneX4 (100%) (100%) New Industries Data Centre AAHL Airports ARTL Roads (100%) Mining Services & Commercial Mining| (44.0%) AWL Food FMCG I (100%) ADL Digital (%): Promoter equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries adani - Represents public traded listed verticals A multi-decade story of high growth centered around infrastructure & utility core 1. Combined market cap of all listed entities as on June 30, 2022, USD/INR - 78.90 | 2. NQXT: North Queensland Export Terminal | 3. ATGL: Adani Total Gas Ltd, JV with Total Energies | 4. Data center, JV with EdgeConnex, AEL: Adani Enterprises Limited; APSEZ: Adani Ports and Special Economic Zone Limited; ATL: Adani Transmission Limited; T&D: Transmission & Distribution; APL: Adani Power Limited; AGEL: Adani Green Energy Limited; AAHL: Adani Airport Holdings Limited; ARTL: Adani Roads Transport Limited; ANIL: Adani New Industries Limited; AWL: Adani Wilmar Limited; ADL: Adani Digital Limited; IPP: Independent Power Producer * Acquisition of Ambuja Cements Ltd and ACC Ltd for -66MTPA of capacity is under regulatory approvals and with this acquisition, Adani is now India's second largest cement manufacturer 5#6Adani Group: Decades long track record of industry best growth rates across sectors Port Cargo Throughput (MMT) 3x 12% Renewable Capacity (GW) 5x 132% Transmission Network (ckm) 18% 3x CGD7 (GAs covered) 36% 25% 1.4x 4% 25% 6% Industry adani Industry adani Industry adani Industry adani 2014 972 MMT 113 MMT 2016 2022 1,320 MMT 312 MMT 2022 46 GW 150 GW9 0.3 GW 20.4 GW6 2016 2022 320,000 ckm 456,716 ckm 6,950 ckm 18,795 ckm 2015 2022 62 GAs 293 GAs 6 GAS 52 GAs APSEZ Highest Margin among Peers globally EBITDA margin: 70% 1.2 Next best peer margin: 55% AGEL Worlds largest developer EBITDA margin: 92% 1.4 Among the best in Industry ATL Highest availability among Peers EBITDA margin: 92% 1,3,5 Next best peer margin: 89% Transformative model driving scale, growth and free cashflow ATGL India's Largest private CGD business EBITDA margin: 41%10 Among the best in industry Note: 1. Data for FY22; 2. Margin for ports business only, Excludes forex gains/losses; 3. EBITDA = PBT + Depreciation + Net Finance Costs - Other Income; 4. EBITDA Margin represents EBITDA earned from power supply 5. Operating EBITDA margin of transmission business only, does not include distribution business. 6. Contracted & awarded capacity 7. CGD: City Gas distribution 8. GAS - Geographical Areas - Including JV | Industry data is from market intelligence 9. This includes 17GW of renewable capacity where PPA has been signed and the capacity is under various stages of implementation and 29GW of capacity where PPA is yet to be signed' 10. Data for FY21 adani Including J 6#7Adani Group: Repeatable, robust & proven transformative model of investment Activity Performance Phase Origination Analysis & market intelligence ⚫ Viability analysis Strategic value Development Site Development Site acquisition India's Largest Commercial Port (at Mundra) Operations Construction Operation • Engineering & design • Life cycle O&M . Sourcing & quality levels planning • Equity & debt funding at project Asset Management Plan Concessions & regulatory agreements Investment case development Longest Private HVDC Line 648 MW Ultra Mega Solar in Asia Power Plant Energy Network Operation Center (ENOC) (Mundra Mohindergarh) (at Kamuthi, Tamil Nadu) Highest Margin among Peers Highest availability . . Constructed and Commissioned in nine months Centralized continuoUS monitoring of plants across India on a single cloud based platform • • Post Operations Capital Mgmt Redesigning the capital structure of the asset Operational phase funding consistent with asset life First ever GMTN of USD 2Bn by an energy utility player in India an SLB in line with COP26 goals - at AEML AGEL's tied up "Diversified Growth Capital" with revolving facility of USD 1.64 Bn fully fund its entire project pipeline Issuance of 20 & 10 year dual tranche bond of USD 750 mn - APSEZ the only infrastructure company to do so Green bond issuance of USD 750 mn establishes AGEL as India's leading credit in the renewable sector Debt structure moving from PSU banks to Bonds 6% 14% 37% 25% 55% 31% 6% 8% 18% adani O&M: Operations & Maintenance, HVDC: High voltage, direct current, PSU: Public Sector Undertaking (Public Banks in India), GMTN: Global Medium Term Notes SLB: Sustainability Linked Bonds, AEML: Adani Electricity Mumbai Ltd. IG: Investment Grade, LC: Letter of Credit, DII: Domestic Institutional Investors, COP26: 2021 United Nations Climate Change Conference; AGEL: Adani Green Energy Ltd. PSU Pvt. Banks Bonds March 2016 March 2022 7 DII Global Int. Banks PSU - Capex LC#8Company Profile 00 8#9AEL A Successful Incubator Development Attractive pipeline Attractive incubation portfolio under AEL with each business well positioned to become the next infrastructure unicorn Incubation track record Past incubation success stories include AGEL, ATL, ATGL and APSEZ all of which are leaders in their respective sectors Leading B2C transition Leading Adani transition into B2C businesses through Airports (200 mn consumers), Digital (Adani Super App) and Food FMCG business Operations Food FMCG (Adani Wilmar) AWL has maintained its leadership position in food FMCG with its "Fortune" brand and continues to lead refined edible oil market with more than 20% market share Technology backed operations Integration of technology in operations across businesses to drive efficiencies and improve realisations Developing Supply chain Manufacturing Bloomberg Tier 1 certified solar cells and modules Value Creation adani Value to shareholders Significant value creation for shareholders - CAGR of 36% over 27 years Investment growth by ~2,000x Efficient Capital Management Capital management plan in line with underlying business philosophy Diversification of funding sources ESG and Sustainability Focus ESG Philosophy ingrained in Business Robust ESG Framework with commitment backed by policies and assurance AGEL: Adani Green Energy Ltd; ATL: Adani Transmission Ltd; ATGL: Adani Total Gas Ltd; B2C: Business to Consumer; APSEZ: Adani Ports and Special Economic Zone Ltd; FMCG: Fast-moving consumer goods; ESG: Environmental, Social, and Governance; CAGR: Compounded Annual Growth Rate; AWL: Adani Wilmar Limited 6#10AEL Incubation Success Stories: Creating Decacorns AEL has a demonstrated track record of creating high quality, high cashflow and high growth sustainable infrastructure businesses since 1994 Company Overview Market Cap (USD bn)1 Ranked as 'Largest Solar Power Developer in the World' by Mercom Capital in August 2020 adani India's largest renewable company with locked-in portfolio of 20,280 MW. Estimated EBITDA of locked-in portfolio is USD 1.9 bn. Renewables 38.7 India's largest private transmission and distribution company - Transmission line length of 18,795 ckm. Mumbai integrated utility catering to 12 mn consumers 35.0 adani Estimated EBITDA of locked-in transmission and Mumbai integrated utility portfolio is USD 1 bn. Transmission 営 -0.7.0- India's largest private CGD business with presence across 52 geographical areas touching 15% of India's population - Strategic partnership with global energy major TotalEnergies 33.4 adani Gas Estimated EBITDA from locked-in geographical areas is USD 0.5 bn adani Largest transport utility in India with 29% market share and 90% of hinterland coverage in India. Handled 312 MMT cargo volume in FY22. Operates India's largest commercial port at Mundra 18.0 Ports and Logistics One of the largest FMCG food companies in India with portfolio of products spanning across edible oil, packaged food & FMCG, and industry essentials. 9.4 adani wilmar Catering to 90.5 mn households through Fortune brand. Having 5,500+ distribution networks and 1.6 mn retail outlets adani AGEL: Adani Green Energy Limited; ATL: Adani Transmission Limited; ATGL: Adani Total Gas Limited; APSEZ: Adani Ports and Special Economic Zone Ltd.; AEL: Adani Enterprises Limited; CAGR: Compounded annual growth rate; ckm: circuit kilometers; CGD: City gas distribution; MMT: Million metric ton; mn: million; bn: billion. 1. Market Cap as on 30 Jun 2022 USD/INR - 78.9 10#11AEL: Current Incubation Portfolio Energy & Utility AEL Portfolio Transport & Logistics Consumer businesses New Industries (End to end Airports Food FMCG¹ Green H₂ chain) Data Center Roads Water Mining Primary Industry Industrials Digital Mining Services & IRM PVC adani 1. Food FMCG business (Adani Wilmar Limited) H2: Hydrogen; IRM: Integrated Resources Management; FMCG: Fast-moving consumer goods; PVC Poly Vinyl Chloride Commercial Mining Copper, Aluminum Specialized Manufacturing 11#12AEL - Earnings Update 12#13AEL: Summary on Operational and Financial Updates - Q1 FY23 • Operations Q1 FY23 Adani New Industries Supply Chain Ecosystem volume stood at 264 MW Handled 16.6 Mn Pax movements at seven operational Airports 123 Lane KMs of Roads constructed • Mining Services o Suliyari mining services made operational and started production o Mining Services production volume up by 71% IRM volume up by 52% • · Finance Q1 FY23 Total Income up by 223% to Rs. 41,066 Cr EBIDTA up by 107% to Rs. 1,965 Cr Attributable Profit up 73% to Rs. 469 Cr Others Q1 FY23 Green H2 Ecosystem [Consolidated] Partnership with TotalEnergies forged to create largest green H2 ecosystem with 25% stake in Adani New Industries Limited (ANIL) Roads Provisional COD received for Bilaspur HAM Road project Concession Agreement signed for Kagal-Satara BOT project of 65 kms Capital Management Completed Rs.7,700 Cr primary equity transaction with IHC Achieved financial closure for Rs. 6,071 Cr in primary industry vertical for copper project with consortium of banks led by SBI Incubating new wave of infrastructure assets like new energy industries, airports and data centers adani Commercial Operation Date COD IHC International Holding Company, Abu Dhabi IRM Integrated Resources Management HAM - Hybrid Annuity Model BOT Build-Operate-Transfer 13#14AEL - Updates on Incubating Businesses Transport & Logistics - Adani Airports Holdings Ltd (AAHL - Airports) Energy & Utility Adani Road Transport Ltd (ARTL - Roads) - AdaniConnex Pvt Ltd (ACX - Data Center) 14#15AEL: Transport & Logistics - AAHL (Airports) Portfolio of 8 Airports - Serving - 20% of total passenger base Operational Updates [Q1 FY23] [QOQ] Q1 FY23 16.6 Pax movement (in Mn) 35% Q4 FY22 12.3 Jaipur 5.0 Mn Lucknow 5.4 Mn Guwahati 5.4 Mn Ahmedabad 11.4 Mn Mumbai + Navi Mumbai* 45.9 Mn Q1 FY23 126.0 ATMs ('000) 32% Q4 FY22 95.6 Mangaluru 1.9 Mn Thiruvananthapuram 3.9 Mn Q1 FY23 2.3 Regional Airports International Gateway Cargo (Lacs MT) 44% Q4 FY22 1.6 Adani Airports to dominate the Airports space with 300 Mn+ consumer base leveraging network effect and consumer mindset adani Circle size is representative of passenger traffic Numbers reported QoQ due to acquisition of MIAL in Q2 FY22 *Navi Mumbai is a Green Field Project ATM Air Traffic Movement 15#16AEL: Transport & Logistics - ARTL (Roads) Portfolio of 14 projects with construction / maintenance of roads of 5000+ Lane Kms Construction in progress Under Development [Q1 FY23] Project Completion Status BPRPL Project - Provisional COD received BHRPL 151.700 kms HURPL UPRPL 155.700 kms 156.800 kms PRSTPL 88.115 kms NPRPL 47.445 kms BPRPL 53.300 kms PPRPL 67.750 kms BKRPL MRRPL KSRPL 67.0 kms 47.500 kms 42.000 kms SKRPL 58.626 kms KKRPL 31.800 kms VBPPL 17.881 kms adani AVRPL 41.800 kms 34000+ Cr Order Book 11% 25% 72% 80% 88% 96% 97% 97% 89% 75% 28% 20% 12% 4% 4% -3% SKRPL MRRPL VBPPL NPRPL KKRPL PPRPL AVRPL BKRPL ■Completed Under Construction Roads Constructed (in Lane Kms) 123 24 Q1 FY22 413% Q1 FY23 Growth journey targeted to be 12,000 Ikm by 2026 BPRPL Bilaspur Pathrapali Road Pvt Ltd | MRRPL - Mancherial Repallewada Road Pvt Ltd | SKRPL - Suryapet Khammam Road Pvt Ltd | VBPPL - Vijayawada Bypass Project Pvt Ltd | NPRPL - Nanasa Pidgaon Road Pvt Ltd | BKRPL - Badakumari Karki Road Pvt Ltd | KKRPL - Kodad Khammam Road Pvt Ltd | AVRPL - Azhiyur Vengalam Road Pvt Ltd | PRSTPL - PRS Tolls Pvt Ltd | PPRPL - Panagarh Palsit Road Pvt Ltd | BHRPL Budaon Hardoi Road Pvt Ltd | HURPL - Hardoi Unnao Road Pvt Ltd | UPRPL - Unnao Prayagraj Roads Pvt Ltd | KSRPL - Kagal Satara Road Pvt Ltd. 16#17AEL: Energy & Utility - ACX (Data Center) [Q1 FY23] Empowering Digital India with a Platform of Hyperscale to Hyperlocal Data Center Solutions with Strong Partnership Site Progress Updates Mumbai Ahmedabad adani Noida Nyderaba Pune Vizag Bangalore Chennai Data Center Chennai Noida Updates 97% of Overall Project Completed 16% of Overall Project Completed; Pre-Construction activities in progress Land Acquisition Updates Data Center Updates Navi Mumbai • Land acquisition complete, transfer to ACX in progress Vizag Land acquisition complete Pune Land acquisition in process Kolkata Hyderabad Land acquisition in process Kolkata Land acquisition in process Bangalore Land Identification & Evaluation in process Customer Hyperscale Enterprise Customer Engagements Update Contracts for 50 MW at Noida Center under final stage In discussion with other Hyperscale Customers Orders received for 0.6 MW 1GW Data Center Platform in a Decade that will empower a Digital India 17#18AEL -Established Businesses updates Energy & Utility - Adani New Industries Ltd (ANIL) Supply Chain Ecosystem Primary Industries - (Mining Services & IRM) 18#19AEL: Updates on Established Businesses Adani New Industries Supply Chain Ecosystem • Project Update [Q1 FY23] o Module line trial run started for new 2.0 GW capacity plant o Cell line and comprehensive project expected COD by Sep 22 o Wind turbine erection completed, and testing started Operational Update o Sales during Q1 FY23 stood at 264 MW vs 271 MW in Q1 FY22 Capacity expansion to 3.5 GW to be completed by Q2 FY23 - Primary Industries (Mining services & IRM) • Maintained leadership with 50% market share in Mining Services business • Total Mining portfolio of 120 MMT with • current operational peak capacity of 51 MMT IRM business continues to maintain leadership position as the number one player in India adani IRM Integrated Resources Management | COD - Commercial Operation Date Operational Update Mining Production (In MMT) IRM Volume (In MMT) 26.69 4.73 71% 8.11 17.56 52% Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 19#20Financial Highlights 20#21Consolidated AEL Consolidated Financials -Q1 FY23 Revenue EBIDTA Established Business 12,306 213% 38,474 Q1 FY22 Q1 FY23 Higher Coal Prices resulting in increase in IRM segment revenue 12,731 223% 41,066 Q1 FY22 Q1 FY23 ✓ Higher Coal Prices in IRM & full 1,335 30% 1,026 Q1 FY22 Q1 FY23 ✓ Increase in line with Revenue 948 Q1 FY22 107% 1,965 Q1 FY23 ✓ Increase in IRM and Airports consolidation of airports business. adani Established Business - [Energy & Utility - Adani New Industries Supply Chain Ecosystem, Primary Industries - Mining services & IRM] Incubating Business - [Transport & Logistics - Adani Airports Holdings Ltd, Adani Road Transport Ltd & Energy & Utility - Adani Connex Data Center] (Rs Cr) PAT Attributable to owners 606 33% 804 Q1 FY22 Q1 FY23 Increase in line with EBIDTA 271 73% 469 Q1 FY22 Q1 FY23 PAT in line with EBITDA 21. 21#22EBIDTA Revenue AEL: Segment-wise Financials - Q1 FY23. Established Businesses Adani New Industries Supply Chain Ecosystem Primary Industries Mining services Primary Industries IRM 623 615 677 574 18% 31,664 Q1 FY22 Reduction in line with volumes Q1 FY23 Q1 FY22 Q1 FY23 Increase in revenue due to increased volume 126 42 9,086 248% (Rs Cr) Incubating Business Transport & Logistics Airports# Consolidation of MIAL done from Q2 FY22 Q1 FY23 Q1 FY22 Increase in revenue due to increase in prices by 239% 72% 950 ➤ Total Revenue in Q1 FY23 increased to Rs. 1267 Cr vs Rs. 1203 Cr in Q4 FY22 307 268 552 Total EBIDTA increased to Rs. 540 Cr vs Rs. 435 Cr in Q4 FY22 Q1 FY22 Q1 FY23 Q1 FY22 Higher raw material costs & reduced volume impacted EBIDTA Q1 FY23 EBITDA impacted due to lower other income Q1 FY22 Q1 FY23 Increase in line with higher volumes adani Established Business [Energy & Utility - Adani New Industries Supply Chain Ecosystem, Primary Industries Mining services & IRM] Incubating Business - [Transport & Logistics - Adani Airports Holdings Ltd, Adani Road Transport Ltd & Energy & Utility - Adani Connex Data Center] #Consolidation of MIAL done from Q2 FY22, YoY figures not comparable 22 22#23ESG Key Focus Areas Mining Services Efficient use of water and energy Reduction of emission levels Faster reclamation of de-coaled areas Zero tolerance for fatalities at sites Adani New Industries Supply Chain Ecosystem Conservation of Natural Resources Waste Management Safety 23#24AEL: ESG performance Q1 FY23 Primary Industries (Mining Services) 21% * Energy Intensity 13% * 15% * о Emission Intensity Water Intensity 99% Waste Managed through 5R Waste Management 8.11 Lakh Trees Planted Terrestrial Plantation - 3797 Ha 287 Ha 325 Ha - - C Afforestation Physical Reclamation Biological Reclamation CA Land & Excavation Area Mining Certification ISO 2600:2010, ISO 31000: 2009, ISO 9001:2015, ISO 14001:2015, OHSAS 18001:2007 adani ISO International Organization for Standardization OHSAS Occupational Health and Safety Assessment Series CA Compensatory Afforestation Ha - Hectare 24 24#25AEL ESG performance Q1 FY23 Adani New Industries Supply Chain Ecosystem Natural Resource Conservation ■Rooftop Solar plants helped to substitute - 3.5 % of Power requirement ■ Energy Conservation initiatives helped to achieve 2.5 % reduction in Specific Power Consumption vs FY 22 (KWH/MW) ■1.8% reduction in Specific Consumption (KL/MW) of DI Water vs FY 22 (KL/MW) ■ 23,056 plantations cultivated despite low fertility soil and semi arid conditions. Waste to Wealth Generation ■ Installed Bio-gas plant for treatment of 100% food waste and generation of cooking gas ■ Conceptualised in-house wood recycling plant for recycling of pallets (1,114 pallets recycled -35 MT of wood saved in Q1 FY23) Safety ■ 6 improvements completed related to Fire Safety, Machine guarding, Forklift Safety etc. considering high-risk activities ■Consistent Improvement in EHS parameters ■ Nil LTI (Lost Time Injuries) for consecutive three years Certification IEC 61215, IEC 61730, UL61730, IEC 62716, IEC 61701, BIS/IS 14286, IEC 62804, IEC 62759, IEC 60068 ISO 9001, 14001, 45001 and 50001 adani IEC International Electro Technical Commission ISO International Organization for Standardization BIS Bureau of Indian Standards 25#26AEL Adani New Industries Supply Chain Ecosystem 100% Compliance on Environnent Conservation Q1 FY23 ETP-Treated Water 100 STP-Treated Water (MSPVL and MSTPL) 100 - 6.5 8.5 7.33 pH@25°C 6.5-8.5.04 52 42 GPCB Limit Result 15 13.5 Total Suspended Solids Fluoride (as F) (mg/L) (mg/L) Drinking Water 250 52 GPCB Limit MSPVL MSTPL 30 22 20 11 14 6.5-8.57.21 6.84 pH@25°C Total Suspended Solids (mg/L) Biomedical Oxygen Demand (BOD) (mg/L) Ambient Air GPCB Limit Result 80 80 200 GPCB Limit Result 100 81 120 60 26 15.6 pH@25°C TDS (PPM) Total Hardness adani (mg/L - CaCO3) 31.5 15.4 20.3 Calcium (mg/L - PM10 PM2.5 SOX NOX CaCO3) (microgram/m3) (microgram/m3) (microgram/m3) All parameters are within GPCB Limits (microgram/m3) Monthly assurance by GPCB approved agency to ensure compliance of GPCB norms Note: Adani Solar spends USD 1.8Mn/Annum for effluent treatment ETP - Effluent Treatment Plant | STP - Sewage Treatment Plant | GPCB - Gujarat Pollution Control Board mg/L - Milligram per Liter | Nox - Nitric Oxide | SOx- Sulfur Oxide | TDS - Total dissolved solids | PM - particulate matter | pH - potential of hydrogen | µg/m3 - Per Cubic Meter Air | CaCO3 - Calcium carbonate 26#27Appendix 27#28AEL: Transport & Logistics - AAHL (Airports) [Q1 FY23] Operational Details Passengers (In Mn) ATM (In '000) Cargo (In Lacs MT) Airports Q1 23 Q4 22 Q1 22 Q1 23 Q4 22 Q1 22 Q1 23 Q4 22 Q1 22 Ahmedabad 2.1 1.6 0.7 17.0 14.6 8.4 0.2 0.1 0.1 Lucknow 1.2 1.0 0.5 9.0 5.2 8.4 0.0 Mangaluru 0.4 0.3 0.1 4.0 2.9 1.7 0.0 - - Mumbai 9.8 7.0 2.2 68.0 47.3 29.3 1.9 1.5 1.5 Jaipur 1.1 0.9 0* 10.0 8.0 0* 0.0 - 0* Guwahati 1.2 0.9 0* 12.0 0* 9.9 0.0 - 0* Thiruvananthapuram 0.8 0.6 0* 6.0 4.5 0* 0.0 - 0* Total 16.6 12.3 3.5 126.0 95.6 44.6 2.3 1.6 1.6 adani ATM Air Traffic Movement * Taken over w.e.f Oct 21 28#29AEL: Transport & Logistics - ARTL (Roads) & (Water) [Q1 FY23] Туре Project Name Project Model Length/ Capacity State CA signed with Bilaspur Pathrapali HAM 53.3 Kms Chhattisgarh Suryapet Khammam HAM 58.6 Kms Mancherial Repallewada HAM 42.0 Kms Telangana Telangana Concession Period (in Years) (Const. + O&M) 2+15 2.5+15 Project Completion Status Provisional COD Received 89% 2+15 75% Vijayawada Bypass HAM 17.9 Kms Andhra Pradesh 2.5+15 28% Nanasa Pidgaon HAM 47.4 Kms Madhya Pradesh Azhiyur Vengalam HAM 40.8 Kms Kerala National Highways Authority of India (NHAI) 2 +15 20% 2.5+15 4% Kodad Khammam HAM 31.8 Kms. Telangana 2+15 12% Roads Badakumari Karki HAM 47.5 Kms Odisha 2.5+18 3% Panagarh Palsit BOT 67.8 Kms West Bengal 2.5+18 4% Kagal Satara BOT 65.1 Kms Maharashtra 2+18 CA Signed 26th May 22 Budaun Hardoi BOT 151.7 Kms Uttar Pradesh 3+27 Hardoi Unnao BOT 155.7 Kms Uttar Pradesh UPEIDA 3+27 CA Signed Jan-22 Unnao Prayagraj BOT 156.8 Kms Uttar Pradesh 3+27 PRS Tolls TOT 49.5 Kms Gujarat NHAI 0 + 20 Toll Collection Started Prayagraj HAM 72 MLD Uttar Pradesh UPJN 2+15 90% completed Water Bhagalpur HAM 45 MLD Bihar BUIDC 2 + 15 Financial Closure Achieved adani CA Concession Agreement Appointed Date AD LOA Letter of Acceptance MLD Million Liters per day HAM Hybrid Annuity Model BOT Build Operate Transfer TOT Toll Operate Transfer UPEIDA - Uttar Pradesh Expressways Industrial Development Authority UPJN Uttar Pradesh Jal Nigam BUIDC Bihar Urban Industrial Development Corporation 29#30AEL Primary Industries - Mining services Quantitative Details (in MMT) Mine Q1 FY23 ROM Dispatch ROM Q1 FY22 Dispatch Parsa Kente 3.9 2.9 3.1 3.1 GP III 0.9 0.9 0.5 0.5 Talabira II and III 2.6 2.6 0.5 0.5 Kurmitar 0.6 0.6 0.7 0.5 Suliyari 0.2 0.2 Total 8.1 7.2 4.7 4.6 adani ROM Run-of-Mine [Q1 FY23] 30#31AEL Primary Industries - Mining services [Q1 FY23] Type of Project Mine Capacity State Customer (Owner) Project Status Parsa East Kente Basen 15 MMT Chhattisgarh RRVUNL Gare Pelma III Talabira II & III 5 MMT Chhattisgarh CSPGCL Operational 20 MMT Odisha NLCIL Coal Mining Suliyari Parsa 5 MMT Madhya Pradesh APMDC 5 MMT Chhattisgarh RRVUNL Gidhmuri Pituria Kente Extension 5.6 MMT 9 MMT Chhattisgarh CSPGCL Under Development Gare Pelma || 23.6 MMT Gare Pelmal Kurmitar 15 MMT Chhattisgarh Chhattisgarh Chhattisgarh RRUVNL MAHAGENCO GSECL 6 MMT Odisha OMC LOA Received Operational Iron Ore Mining Bailadila Deposit 13 10 MMT Chhattisgarh NCL Under Development Gondulpara 4 MMT Jharkhand AEL Dhirauli 5 MMT Madhya Pradesh SMRPL Under Development Commercial Coal Mining Jhigador TBD Chhattisgarh CGNRPL Khargaon TBD Chhattisgarh CGNRPL Bijahan 5.2 MMT Odisha MMMPL Agreement yet to be executed Gondbahera Ujheni East TBD Madhya Pradesh MPNRPL RRVUNL Rajasthan Rajya Vidyut Utpadan Nigam Ltd. CSPGCL - Chhattisgarh State Power Generation Company NLCIL Neyveli Lignite Corporation India Ltd OMC adani APMDC Andhra Pradesh Mineral Development Corporation NCL Odisha Mining Corporation Ltd NMDC-CMDC Ltd MAHAGENCO - Maharashtra State Power Generation Company GSECL Gujarat State Electricity Corporation Ltd SMRPL Stratatech Mineral Resources Pvt Ltd CGNRPL CG Natural Resources Pvt Ltd. MMMPL Mahanadi Mines and Minerals Private Limited. MPNRPL - MP Natural Resources Private Limited LOA Letter of Award 31#32Appendix: ESG Framework 32#33AEL Environment Philosophy Climate Awareness Offsetting Carbon Emission • Carbon sequestration by afforestation • Improving Carbon Efficiency Conservation of Resource Reducing water footprint • Land use and cover management Energy Management • Optimizing Input Consumption Climate Readiness • Promote green energy through low- cost manufacturing platforms Afforestation and Conservation Faster reclamation of de-coaled areas • Reduce freshwater withdrawal Reuse, recycle and replenish • Water neutrality • Optimize Land use • • Waste Management Recycling waste through land- filing · Circular Economy ⚫ Scientific Disposal of Hazardous Waste Biogas Plant (Waste to energy) - Installed in solar manufacturing for treatment of 100% food waste • Reduce waste outcome Business and future investment aligned to sustainable growth with focus on preserving environment • Water Neutrality Research & Development and Innovation for green technology. Climate Alignment • Biodiversity Management & Conservation. • • Innovative Reforestation technology of Tree Transplantation to conserve local ecology. Conceptualization of in-house recycling plants adani 33 33#34AEL Social Philosophy - aligned to UNSDG 2030 goals United Nations Sustainable Development Goals 2030 ZERO HUNGER 3 GOOD HEALTH AND WELL-BEING QUALITY EDUCATION NO 1 POVERTY 2 SSS W 2. Zero Hunger Our Key Social Initiatives mapped to UNSDG Multiple Locations Women's Education 1. No Poverty 5 GENDER EQUALITY 4. Quality Education Women's Health Sarguja 3. Good Health & Well Being сл 6 CLEAN WATER AND SANITATION 7 AFFORDABLE AND CLEAN ENERGY 8 DECENT WORK AND ECONOMIC GROWTH 9 INDUSTRY. INNOVATION 10 REDUCED INEQUALITIES 11 AND COMMUNITIES AND INFRASTRUCTURE THE GLOBAL GOALS For Sustainable Development 12 RESPONSIBLE CONSUMPTION AND PRODUCTION G GO Women's Empowerment 2. Zero Hunger 5. Gender Equality 8. Decent Work & Economic Growth Ecology 7. Affordable and Clean Energy 13. Climate Action Sarguja & Tamnar Mundra • Own schools, digitalization and up gradation of Govt. school to provide cost free education to the needy. Project Suposhan undertaken by Adani Wilmar is successfully continuing its operation. Partnered with self help group to educate and provide sanitary pads for safe menstrual hygiene to ensure better health. Various projects undertaken by Gauri Self help groups for collection and marketing of Non-Timber Forest Produce Conservation of mangroves in coordination with GUIDE 13 CLIMATE ACTION LIFE BELOW 14 WATER adani 15 LIFE ON LAND 16 PEACE AND JUSTICE STRONG INSTITUTIONS 17 FOR THE GOALS PARTNERSHIPS 14. Life Below Water 15. Life on Land Local & Rural infra Development 9. Industry, Innovation & Infra Structure. 11. Sustainable Cities & Communities Sarguja • Organic Farming and Integrated Multi purpose business model Water Secure Nation 6. Clean Water and Sanitation Multiple Locations Deepening of ponds and tanks, Rooftop Rainwater Harvesting, Recharging Bore wells Social philosophy drives initiatives that are aligned with UN Sustainable Development Goals UNSDG United Nations Sustainable Development Goals 34#35AEL: Governance Philosophy Policies Committees Assurance Environment Policy covered in BR Policy Corporate Responsibility Committee Risk Management Committee Corporate Social Responsibility Policy Occupational Health and Safety Policy Human Rights covered in BR policy Related Party Transaction Policy Dividend Distribution and Shareholder Return Nomination and Remuneration Risk Management Framework Code for Fair Disclosure of UPSI • Corporate Social Responsibility Committee Stakeholder Relationship Committee Audit Committee (100% independent directors) Nomination and Remuneration Committee (100% independent directors) Risk Management committee Infotech and data security committee Enabling Board backed Assurance leading to lower risk to Stakeholders Corporate Responsibility Committee (CRC) (100% Independent directors) Established "CRC" of the Board to provide assurance for all ESG framework adani 35#36Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking statements," including those relating to general business plans and strategy of Adani Enterprises Limited ("AEL"), the future outlook and growth prospects, and future developments of the business and the competitive and regulatory environment, and statements which contain words or phrases such as 'will', 'expected to', etc., or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in India. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell, any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of AEL's shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of AEL. AEL, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation. AEL assumes no responsibility to publicly amend, modify or revise any forward-looking statements, based on any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. AEL may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. No person is authorised to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorised by or on behalf of AEL. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of this presentation should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom. For Further info please contact: MR. SAURABH SHAH Finance Controller - Adani Enterprises Ltd [email protected] +91 79 2555 5266 MR. MANAN VAKHARIA Investor Relations [email protected] +91 79 2555 6140 adani 36