#1IndiGrid INVESTOR PRESENTATION Q1 FY23 RESULTS#2Safe Harbor IndiGrid This presentation is prepared and issued by IndiGrid Investment Managers Limited (the "Investment Manager") on behalf of and in its capacity as the investment manager of India Grid Trust ("IndiGrid") for general information purposes only without regards to specific objectives, financial situations or needs of any particular person and should not be construed as legal, tax, investment or other advice. This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an offering memorandum, an advertisement, an offer or an offer document under the Companies Act, 2013, the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, as amended, or any other applicable law in India. This presentation does not constitute or form part of and should not be construed as, directly or indirectly, any offer or invitation or inducement to sell or issue or an offer, or any solicitation of any offer, to purchase or sell any securities. This presentation should not be considered as a recommendation that any person should subscribe for or purchase any securities of: (i) IndiGrid or its portfolio assets (being, IndiGrid Limited, IndiGrid 1 Limited, IndiGrid 2 Limited, Bhopal Dhule Transmission Company Limited, East-North Interconnection Company Limited, Jabalpur Transmission Company Limited, Maheshwaram Transmission Limited, RAPP Transmission Company Limited, Purulia Kharagpur Transmission Company Limited, Patran Transmission Company Limited, NRSS XXIX Transmission Limited, Odisha Generation Phase II Transmission Limited, Gurgaon Palwal Transmission Limited, Jhajjar KT Transco Private Limited, Parbati Koldam Transmission Company Limited, NER-II Transmission Project, Kallam Transmission Limited, IndiGrid Solar-I (AP) Private Limited, IndiGrid Solar-II (AP) Private Limited) (collectively, the "IndiGrid Group"), or (ii) its Sponsor (being Sterlite Power Transmission Limited, Esoteric II Pte. Ltd.) or subsidiaries of the Sponsor (collectively, the "Sponsor Entities"), and should not be used as a basis for any investment decision. Unless otherwise stated in this presentation, the information contained herein is based on management information and estimates. The information contained in this presentation is only current as of its date, unless specified otherwise, and has not been independently verified. Please note that, you will not be updated in the event the information in the presentation becomes stale. This presentation comprises information given in summary form and does not purport to be complete and it cannot be guaranteed that such information is true and accurate. You must make your own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as you may consider necessary or appropriate for such purpose. Moreover, no express or implied representation or warranty is made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this presentation. Further, past performance is not necessarily indicative of future results. Any opinions expressed in this presentation or the contents of this presentation are subject to change without notice. None of the IndiGrid Group or the Sponsor Entities or the Investment Manager or the Axis Trustee Company Limited or any of their respective affiliates, advisers or representatives accept any liability whatsoever for any loss howsoever arising from any information presented or contained in this presentation. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the IndiGrid Group or the Sponsor Entities. The distribution of this presentation in certain jurisdictions may be restricted by law. Accordingly, any persons in possession of this presentation should inform themselves about and observe any such restrictions. This presentation contains certain statements of future expectations and other forward-looking statements, including those relating to IndiGrid Group's general business plans and strategy, its future financial condition and growth prospects, and future developments in its sectors and its competitive and regulatory environment. In addition to statements which are forward looking by reason of context, the words 'may', 'will', 'should', 'expects', 'plans', 'intends', 'anticipates', 'believes', 'estimates', 'predicts', 'potential' or 'continue' and similar expressions identify forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy, future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts, if any, are correct or that any objectives specified herein will be achieved. All forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results, performances or events to differ materially from the results contemplated by the relevant forward-looking statement. The factors which may affect the results contemplated by the forward-looking statements could include, among others, future changes or developments in (i) the IndiGrid Group's business, (ii) the IndiGrid Group's regulatory and competitive environment, (iii) the power transmission sector, and (iv) political, economic, legal and social conditions. Given the risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. 2#3|||Q1 FY23 QUARTERLY UPDATE 3#4Q1 FY23 Highlights Organizational Update Completed 5 years of value-accretive growth, sustainable distributions and best-in-class governance practices since listing ☐ Seamless leadership transition with Mr. Jyoti Kumar Agarwal moving into the CEO role and Ms. Divya Bedi Verma into the CFO role effective, July 01, 2022 Mr. Urmil Shah has been appointed as the Company Secretary in place of Mr. Swapnil Patil effective, August 01, 2022 Financial Performance □ Q1 FY23 Revenue & EBITDA remained steady with 1% and 2% growth YoY, respectively Q1 FY23 Collections at 77% vs 70% in Q1 FY22 □ Q1 FY23 DPU increased by ~3.5% YoY to 3.30 vs 3.19 in Q1 FY22 ☐ Net Debt/AUM at ~58%; significantly below the 70% cap as per SEBI InvIT □ AUM relatively unchanged at 210 Billion Operational Performance ☐ Average availability maintained at ~99.0% in Q1 FY23 ☐ Unprecedented rains and subsequent floods impacted NER availability during Q1 FY23 Digital Asset Management (DigiGrid) implemented across all IndiGrid assets including Solar IndiGrid Superior Total Returns Sustainable Increase in DPU Stable Operations 4#5Q1 FY23 Industry Update IndiGrid Power Demand and Supply Trend Peak power demand at an all-time high of ~213 GW in April 250 16% CAGR 210.2 182.1 Peak power demand for Apr-Jun'22 up 15% YoY on increased economic activity growth post the pandemic 155.6 150 100 Heatwave in North-west India also contributed to higher consumption Median peak demand up by 58% to 213 GW in Jun'22 Vs. April'20 lows of ~135GW India installed capacity at 404 GW in Jun'22 vs. 384 GW in Jun'21 50 0 Q1FY21 Share of renewable has increased from 25% to 28% during the period Q1FY22 Peak Power Demand (GW) Q1FY23 Key Developments India's spend plan for the next 5 years in transmission is estimated at 1.2 Trillion Estimated addition of 31,895 ckms of transmission lines and 216,840 MVA of transformation capacity ☐ 3,642 ckt kms of transmission lines and 21,800 MVA of transformation capacity was added in Q1 FY23 Investments in the inter-regional transmission capacity will be for evacuation from new generation centers to the grid, grid strengthening and energy storage □ Gol's Revamped Distribution Sector Scheme (RDSS) to provide smart metering and system strengthening and improve operational efficiencies of discoms India quarterly peak power demand at an all-time high of 210 GW Source: 1) CEA monthly Executive summary report (2) CTU Rolling Plan 2026-27 5#6Q1 FY23 Operational Performance Zero Harm on HSE Q1 FY23 availability IndiGrid ■ Proactive reporting and closure of unsafe act and conditions 99.90 99.88 99.87 99.99 100.00 99.98 99.62 99.68 99.91 99.77 99.84 ☐ No injury incidents 94.07 Availability 93.79 ☐ Q1 FY23 Average availability at ~99.0% Q1 FY23 Solar CUF at 19.1% Increased Reliability ☐ Trips/Line at 0.36 - Defect corrections across portfolio of assets enabled trip reduction over the years. More than 99.5% of substation equipment are defect free BDTCL JTCL *RTCL PKTCL MTL PTCL NRSS OGPTL ENICL GPTL PrKTCL JKTPL **NER Availability Over Normative Normative Availability Notes: □ Digital Asset Management (DigiGrid) ☐ ■ All IndiGrid Assets including Solar are live on DigiGrid – IndiGrid's Digital Asset Management platform SAP Maximo migration is complete ☐ Emergency Preparedness ☐ Emergency Restoration System (ERS) and Climate forecast platform will provide swifter response/restoration during unplanned events Certificate for ISO 27001 ISMS Audit IndiGrid received ISO 27001 ISMS Audit from external audit partner Bureau Vistas *RTCL availability impacted in Q1 due to NHAI related diversion work, availability/revenue loss and capex recovered from NHAI **NER availability impacted in Q1 due to tower collapse incident in SM line on June 17, 2022 due to unprecedented rainfall and record flood resulting in heavy water discharge, river course change and soil erosion at foundation. Its under-process for deemed availability certification No. of Trips / Line Key Indicators Q1 FY23 Q1 FY22 0.36 0.421 Training Man hours (Hours) 7,872 9,000 Loss Time Incident (Nos) 0 0 Unsafe conditions reporting (Nos) 2,183 613 Near Miss Reporting (Nos) 15 0 Rooftop (SS) Solar Generation (kWh) 12,302 12,074 Utility Solar (100 MW) Generation (MU) 57.52 58.94 CUF / Plant Availability (%) Consistent track record of maintaining superior availability 1) No. of trips/line includes indemnified events at NER 19.08%/99.87% 19.56%/99.94% 6#7Q1 FY23 Financial Performance Earnings Mn Q1 FY23 Q1 FY22 % change Revenue 5,609 5,542 1% EBITDA 5,122 5,039 2% 3,612 NDCF Generated 1,153 1,684 -32% DPU (per unit) 3.30 ~3.19 4% Collections Collections at 77% in Q1 FY23 vs 70% YoY and 110% QoQ ☐ DSO days¹ at 65 as of Jun'22 vs 57 days as of Jun'21 Revenue (Mn) 5,542 5,609 Q1 FY21 Q1 FY22 Q1 FY23 3,295 IndiGrid EBITDA (Mn) 5,039 5,122 Q1 FY21 Q1 FY22 Q1 FY23 Collection Efficiency % 92% 82% 75% 77% 62% 65% 66% 70% April May June Q1 FY22 FY23 Stable Revenue and EBITDA for the quarter with better collections efficiency YoY (1) DSO days does not include unbilled revenue 7#8Q1 FY23 Distribution Update IndiGrid Particulars Distribution per unit (DPU) (*) Q1 FY23 Q1 FY22 Quarterly Distribution Trend 3.30 ~3.19 - Interest 3.06 3.037 3.30 3%-4% YoY growth - Dividend NIL 0.151 3.19 3.10 - Capital Repayment/Others 0.24 NIL 3.00 3.00 Outstanding Units (Mn) 700.2 700.2 Gross Distribution (INR Mn) ~2,313 ~2,232 2.75 Record Date August 1, 2022 August 5, 2021 Tentative Distribution Date (on or before) August 10, 2022 August 14, 2021 NAV per Unit (*) 132.2 128.5 FY18 FY19 FY20 FY21 FY22 FY23 (P) 61.82/unit amounting to ~ 31.84 billion distributed to investors since listing (including Q1 FY23 distribution) On-track to meet increased DPU guidance of 13.20 per unit (1) Exempt under section 10(23FD) as the SPV (PrKTCL) does not opt for concessional tax regime under section 115BAA of the Income Tax Act, 1961 ∞#9Q1 FY23 Consolidated EBITDA to NDCF Waterfall IndiGrid (In Mn) 5,104 4 3,650 -1,376 -64 -18 -54 1,153 -2,436 -8 Reserve worth 1,160 Mn used during the quarter; reserve balance at ~1,050 Mn 1,160 2,313 EBITDA at Finance Cost WC Movement SPV Capex Tax at SPV NDCF at SPV Expenses at Finance cost IGT Tax at IGT at IGT NDCF Generated Reserve at Distribution IGT & SPV Healthy NDCF reserves ensuring stable and sustainable DPU 9#10Robust Balance Sheet AAA Rated By CRISIL, ICRA & India Ratings -76% Fixed Rate Borrowings ~7.51% Average Cost of Debt -58% Net Debt/AUM INR 8.81 Bn Cash Balance¹ >2.04x EBITDA/Interest ☐ Weighted average cost of borrowing for incremental debt at ~6.94% in Q1 FY23 NCDs 40% IndiGrid Gross Borrowing (~ ₹ 127 Bn) Bank Loans 60% 15 11 42 61 26 Repayment/Refinancing Schedule (* Bn) 3.21 9.34 NCD-MFS ■NCD-Corporates ■NCD-Retails/HNI Loan-Private Banks ■NCD-Insurance Co ■ Others ■Loan-PSU Banks ■NCD-Banks 7.85 12.26 14.47 8.19 13.80 5.99 15.07 13.41 illib.:!....l 5.72 4.67 4.63 3.81 5.35 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 FY37 Well-diversified and termed-out borrowing profile (1) Includes 2.3 Bn held for distribution, 3.5 Bn for DSRA/lien mark 10#11Superior Risk-Adjusted Total Returns to Investors Annualised Return Total Returns¹ Source: Bloomberg IndiGrid 5% 6% 15% 11% 9% 14% 11% 34%2 31% 33% 101% 68% 54% 91% 67% 40% 42% || 39% 74% 43% 59% 59% 8% 11% 29% 17% 28% 11% 34% 36% -3% GSEC Bond (10 year) -4% GSEC Bond IndiGrid NSE 500 NSE INFRA BSE Utilities PGCIL PGCIL InvIT (30 year) Beta³ vs NSE 500 10Y GSec Bond4 30Y GSec Bond4 IndiGrid NSE 500 NSE INFRA BSE Utilities PGCIL PGCIL InvIT 0.01 0.02 0.08 1.00 0.95 0.88 0.54 0.30 (1) Total return is sum of all distributions since listing (Jun '17) and change in price till Jun 30, 2022 (2) PGCIL InvIT listed in May 2021 (3) Beta refers to Historical Beta calculated on a weekly basis since listing of IndiGrid to Jun 30,2022 (4) 10Y GSec Bond refers to IGB 6.79 15/05/2027; 30Y to IGB 7.06 10/10/46 Corp Consistently outperforming on a risk-adjusted basis Price Change ■Distribution 11#12Business Outlook Portfolio Strategy ☐ Focus on maintaining stable operations for predictable and sustainable distribution while looking for value- accretive acquisitions ☐ Delivering on increased DPU Guidance of 13.20 for FY23 ~1,200 Bn worth of transmission projects to be added to the grid by FY27 while ~450 Bn identified under NMP till FY25, creating healthy growth pipeline ☐ Proactively explore opportunities in power transmission and adjacent spaces like utility-scale battery storage Improving Balance Sheet Strength Focus on refinancing opportunities with an aim to optimize interest cost and elongate tenures Focus on maintaining adequate liquidity to mitigate any uncertainties or unpredictable scenario Resilient Asset Management Focus on maintaining > 99.5% availability across portfolio and maximize incentives Self-reliant O&M practices across the portfolio Improve and expand DigiGrid functionality across portfolio to improve reliability Ensuring world class EHS and ESG practices across the portfolio Industry Stewardship Policy initiatives to streamline tax anomalies between equity and InvITs Enabling index inclusion for InvITS/REITS Focus on increasing awareness about IndiGrid and InvITs Source: CTU Rolling Plan 2026-27, NMP Volumes 1&2 IndiGrid Superior Total Returns Sustainable Increase in DPU Stable Operations 12 12#13||| ANNEXURES 13#14Vision • • Focused Business Model Value Accretive Growth Long term contracts Low operating risks Stable cash flows DPU accretive acquisitions Y-o-Y Creating growth pipeline for future • • IndiGrid Predictable Distribution Quarterly distribution Minimum 90% of Net cash flow distributed Sustainable distributions Optimal Capital Structure Cap on leverage at 70% AAA rating; prudent liability management • Well capitalized To become the most admired yield vehicle in Asia 14#15Footprint ~INR 210 Bn1,2 ASSETS UNDER MANAGEMENT 18 STATES & 1 UT 52 REVENUE GENERATING ELEMENTS² Amargarh Samba Parbati Jalandhar Patran Koldam Ludhiana IndiGrid ~7,570 ckms2 40 LINES ~13,550 MVA² 11 SUBSTATIONS Dipalpur Kabulpur Jharli Dhanonda Sohna Neemrana Kadarpur Prithala Aligarh RAPP Bina Shujalpu Ranchi Purlia Bhopah 100 MW(AC) ~29 YEARS Indore Jabalpur Dharamjaigarh Chaibasa Siliguri Bongaigaon Purnia Biharsharif Kharagpur Itanagar Biswanath Misa Silchar Surajmaninagar PK Bari *Vadodra SOLAR GENERATION AVERAGE RESIDUAL CONTRACT3,4 Dhule Jharsuguda Raipur. OPGC Aurangabad 765 kV S/C Kallam▲ Nizamabad 765 kV D/C Yeddumailaram 400 kV D/C ~11,550 >4,35,000 MT TOWERS STEEL AND ALUMINUM Maheshwaram Mahboobnagar 400/132 kV M/C 132 kV D/C 400 kV S/C Ananthapuram Solar Park 400 kV M/C 2x50 MW (AC) 2x315 MVA (400/220 KV GIS substation) 2x500 MVA (400/220 kV GIS substation) 2x315 MVA + 2x100 MVA ((400/220/132 kV AIS substation) 2x500 MVA (400/220 KV GIS substation) 2x1500 MVA (765/400 kV AIS substation) 2x315 MVA (400/132 kV AIS substation) 2x500 MVA (400/220 kV AIS substation) (1) Value of 100% stake of all projects as per independent valuation report as of 30th Jun 2022 (2) Excluding Kallam Project which is u/c; Kallam has ~15 ckms line and 1000MVA substation (3) ENICL has a TSA term of 25 years from the Licence Date (4) IndiGrid Solar Assets have a PPA term of 25 years from the effective date Location is Indicative, only a graphical representation of India 15#16Asset Portfolio 11 Inter State TBCB Transmission Projects IndiGrid 1 Intra State TBCB Transmission Project 1 Regulated Tariff Transmission Project 1 Solar Generation Asset Availability AUM² FY23 Tariff 1 Under Construction TBCB Transmission Project Metal Asset States Elements Contract COD (%) 1 (INR Million) Contribution³ ('000 Metric Ton) 6 Lines 945 ckms BDTCL JTCL RTCL Madhya Pradesh, Maharashtra, Gujarat 2 Substations - 6,000 MVA 2 Lines 995 ckms Fixed Tariff/ Centre Fixed Tariff/ Centre Jun-2015 99.69 19,939 2,692 Steel 48.9;Al - 22.3 PKTCL 2 Lines MTL 1 Line 405 ckms 545 ckms 2 Lines - 475 ckms PTCL 1 Substation - 1000 MVA Fixed Tariff/ Centre Fixed Tariff/ Centre Fixed Tariff/ Centre Fixed Tariff/ Centre 3 Lines 830 ckms NRSS OGPTL ENICL GPTL Fixed Tariff/ Centre 1 Substation - 630 MVA - 2 Lines - 710 ckms 2 Lines 895 ckms 5 Lines Fixed Tariff/ Centre Fixed Tariff/ Centre Fixed Tariff/ Centre 3 Substations -3000 MVA JKTPL PrKTCL NER-II Solar Assets I & II 14 Operational Projects Kallam4 - Fixed Tariff PPA (INR 4.43/kWh) 52 revenue generating elements Maharashtra Fixed Tariff/ Centre 56 revenue generating 15 Projects 18 States, 1 UT Madhya Pradesh, Chhattisgarh Madhya Pradesh, Rajasthan West Bengal, Jharkhand Telangana Punjab Punjab, Jammu & Kashmir Odisha, Chhattisgarh Assam, Bihar, West Bengal Haryana, Rajasthan, Uttar Pradesh Haryana Himachal Pradesh, Punjab Tripura, Assam, Arunachal Pradesh Andhra Pradesh 18 States, 1 UT 275 ckms 3 Lines - 205 ckms 2 Substations - 1660 MVA 6 Lines - 458 ckms 6 Lines- 832 ckms 2 Substations- 630 MVA 100 MW (AC) ~7,570 ckms, 13,550 MVA and 100 MW 1 Line - 15 ckms 1 Substation 1000MVA ~7,585 ckms, 14,550 MVA and 100 MW Fixed Tariff/State Regulated/Centre Fixed Tariff/ Centre elements Steel 318,483 MT Aluminium 116,718 MT 16 (1) From COD to Jun-22, (2) As per independent valuation report for Jun 2022, (3) As per independent valuation report for March 31, 2022, (4) Valuation of Kallam is based on Net Asset Value (NAV) since it is under-construction, (5) NRSS-XXIX majorly impacted in Q4 FY22 due to forced outage undertaken to avoid tower collapse situation created due to landslide. Its under process for deemed availability certification Sep-2015 99.71 16,346 1,514 Steel -62.8, Al - 21.8 Mar-2016 99.79 4,389 455 Steel -6.7, Al - 3.5 Jan-2017 99.89 6,810 748 Dec-2017 99.86 5,993 578 Nov-2016 99.86 2,610 317 - Steel 10.4, Al - 4.8 Steel 9.3; Al - 4.2 NA Sep-2018 99.265 45,427 5,179 Steel - 27.8; Al - 7.3 Apr-2019 99.83 14,735 1,589 Nov-2014 99.49 11,751 1,489 Steel 43.7; Al - 14.3 Steel -37.7; Al - 15.6 Apr-2020 99.33 12,402 1,456 Steel -8.4, Al -3.0 Mar-2012 99.15 3,150 507 - Jun-2015 99.86 7,468 1,325 Steel-22.1, A Mar-2021 99.05 51,806 4,260 Steel 8.7, Al -3.6 Al - 6.7 Steel- 27.8, Al- 8.5 Jul' 18/Jan'19 N.A. 6,901 N.A. Steel- 4.14, Al- 1.04 >99.60 ~210 Bn 22,109 Steel 318,483 MT Aluminium 116,718 MT July'23 (expected) N.A. ~2824 N.A. N.A. >99.60 -210 Bn 22,109#17Corporate Structure KKR 100%^ IGL 100% KKR Sponsor* -24% Investment Manager (IIML) 100% IGL 1 GIC -20% IndiGrid 100% IGL 2 100% 100% 100% 100% 100% 100% 70% 30% 100% BDTCL JTCL RTCL PKTCL MTL NTL Kallam OGPTL PTCL 100% - 100% ENICL Other Unitholders ~56% AXIS TRUSTEE Trustee 100% 100% 74% GPTL JKTPL PrKTCL# IndiGrid 100% 100% NER-II Solar- I & II Initial Portfolio Asset Transmission Assets Solar Assets % Represents Economic Ownership IGL= IndiGrid Limited,, IGL1 = IndiGrid 1 Limited, IGL2 = IndiGrid 2 Limited, BDTCL = Bhopal Dhule Transmission Company Limited, JTCL = Jabalpur Transmission Company Limited, RTCL = RAPP Transmission Company Limited, PKTCL = Purulia & Kharagpur Transmission Company Limited, MTL = Maheshwaram Transmission Limited, PTCL = Patran Transmission Company Limited, NTL = NRSS XXIX Transmission Limited, Kallam = Kallam Transmission Limited, OGPTL = Odisha Generation Phase II Transmission Limited, ENICL = East-North Interconnection Company Limited, GPTL = Gurgaon Palwal Transmission Limited, JKTPL = Jhajjar KT Transco Private Limited, PrKTCL = Parbati Koldam Transmission Company Limited, NER-II = NER II Transmission Limited, Solar I & II = IndiGrid Solar-I (AP) Private Limited and IndiGrid Solar-II (AP) Private Limited *Sterlite Power Transmission Ltd. is also the sponsor with 0% stake in IndiGrid ^KKR acquired 26% stake in IIML held earlier by Sterlite Power Transmission Ltd. in Jan 2022 #PrKTCL held in a Joint Venture with Power Grid holding 26% stake 17#18Diversified Investor Base Supported by marquee long term investor base As on June 30, 2022 Retail 22% ~24% owned by Dlls including insurance companies, mutual funds, pension fund and corporates Other Fils 10% Retail Holding at -22% ; quadrupled in value since IPO 9 insurance companies hold ~8% stake FII holding (incl. KKR and GIC) at ~54% GIC 20% Corporates & Trusts 15% IndiGrid Insurance 8% Others 1% KKR (Sponsor 24% KKR GIC Birla Sun Life Insurance Schroders Edelweiss lick RELIANCE NIPPON LIFE INSURANCE Canara HSBC OBC Life Insurance DAIICHI LIFE Star Union Dai-ichi Bank of India Life Insurance A joint venture of Union Bank Tokio sslife surance se badhkar hai aapki zaroorat ΤΑΤΑ AIG INSURANCE WITH YOU ALWAYS TATA MOTORS MAX LIFE INSURANCE DSP pnb MetLife Milkar life aage hadharin 18#19Experienced Board of Directors Tarun Kataria Independent Director Rahul Asthana Independent Director Ashok Sethi Independent Director • Over 30 years of rich experience, currently independent non-executive director of Mapletree Logistics Trust Ltd. He is an independent director of Westlife Development Ltd., Jubilant Pharma Ltd. and Global Moats Fund (Mauritius) • Ex-CEO Religare Capital Markets Limited, MD and Head of Global banking and markets at HSBC India and Vice Chairman of HSBC Securities and Capital Markets • MBA in Finance from Wharton School, University of Pennsylvania and is a Chartered Accountant • 40+ years of experience, currently he serves as the non-executive director on the board of Aegis Logistics Ltd. and NBS International. He is also a director on the board of directors of Mahindra Waste to Energy Solutions Limited and Mahindra Integrated Business Solutions Private Limited • Ex-Chairman of Mumbai Trust & Maharashtra State Electricity Board, ex- Metropolitan Commissioner of Mumbai, Metropolitan Region Development Authority • MBA from ICPE University of Ljubljana, Slovenia and Bachelor's degree from IIT Kanpur Over 3 decades of experience in power sector with significant knowledge in project execution, operations, commercial, regulatory, advocacy & policymaking Currently serves as Non-Executive Chairman of Tata Consulting Engineers Limited. Previously, served as the Chief Operating Officer and Executive Director of Tata Power Advance Management at Ashridge, UK and Bachelor's degree from IIT Kharagpur • Decades of experience in driving product strategy in Digital Transformation space, product innovation, risk management, M&A, technology delivery and execution • CEO of BCT Digital and Independent Director on Board of UTI Asset Management Company as the Chairwoman of the Digital Transformation Committee • MBA from Cornell University and a Bachelor's degree in Computer Science from Madras University. She is also a CFA Charter Holder Hardik Shah Non-Executive Director Ami Momaya Non-Executive Director Jyoti Kumar Agarwal CEO & Whole-time Director IndiGrid • Member of the Asia-Pacific Infrastructure team of KKR since 2018 responsible for Infrastructure investments in India. 10+ years at Macquarie Group across their Sydney and Mumbai offices and was involved in building their India Infrastructure business. More recently, led Brookfield's India business • Post graduate degree from S.P. Jain Institute of Management & Research (Mumbai) and he is also a CFA Charter holder. • 17+ years of experience, currently at KKR in Asia-Pacific Infrastructure team and is responsible for infrastructure investments in India • Ex-Morgan Stanley New York and India office where she was instrumental in building their India infrastructure business • Bachelor's degree in Commerce from Mumbai University and PGDM from the Narsee Monjee Institute of Management Studies (Mumbai) • Extensive experience across Corporate Finance, Strategy, M&A, Treasury, Accounting, Tax, Commercial, Legal & Investor Relations functions • Worked with JSW Energy, Standard Chartered, Credit Suisse, Deutsche Bank, Franklin Templeton and BCG • MBA from IIM Calcutta, Chartered Accountant and CFA Charterholder Jayashree Vaidhyanathan Independent Director 19#20Glossary IndiGrid JKTPL Jhajjar KT Transco Private Limited Multi Circuit Million Metric Tonne Maheshwaram Transmission Limited Mega Volt Ampere Megawatt Net Asset Value per unit Non-Convertible Debentures Net cash flow at trust's disposal for distribution to IndiGrid in a particular year in accordance with the formula defined in Offer Document Operations & Maintenance Point of Connection AC AIS AUM Availability BDTCL Bn CAGR COD/SCOD CKMS Alternate Current Air Insulated Substation M/C Assets Under Management Mn Percentage amount of time for which the asset is available for power flow MT Bhopal Dhule Transmission Company Limited MTL Billion MVA Compounded Annual Growth Return MW Commercial Operation Date/Scheduled Commercial Operation date NAV Circuit Kilometers Central Transmission Utility Double Circuit CTU D/C DII Domestic Institutional Investor DPU Cash paid to the Unitholders in the form of interest/ capital repayment / dividend NCD NDCF O&M Days Sales Outstanding - average number of days that it takes to get the receivables from POC DSO billing EBITDA Earnings before interest, taxes, depreciation, and amortization ENICL PPA Power Purchase Agreement PrKTCL Parbati Koldam Transmission Company Limited ESG EHS FII FY GIS GPTL East North Interconnection Limited Environment Social and Governance Environment, health and safety Foreign Institutional Investor Financial Year Gas Insulated Substation Gurgaon Palwal Transmission Limited PKTCL Purulia Kharagpur Transmission Company Limited PTCL QoQ RTCL S/C Solar I & II GTTPL Goa Tamnar Transmission Project Limited IGT IPO IIML ISTS InvIT India Grid Trust Initial Public Offering IndiGrid Investment Managers Limited Inter State Transmission System Infrastructure Investment Trust Kallam Kallam Transmission Limited KTL Khargone Transmission Limited SPV Tariff KKR KV JTCL KKR & Co. Inc. (including its affiliates and subsidiaries) Kilovolt Jabalpur Transmission Company Limited TBCB TSA Transmission Service Agreement UT Union Territory WTD Whole time director YTD Year Till Date YoY Year on Year Patran Transmission Company Limited Quarter-on-Quarter RAPP Transmission Company Limited Single Circuit Two SPVs namely IndiGrid Solar-I (AP) Private Limited and IndiGrid Solar-II (AP) Private Limited Special Purpose Vehicle Composed of Non-Escalable, Escalable and Incentive component. The incentive component is based on the availability of the asset = 2*(Annual Availability - 98%)*(Escalable + Non- escalable); incentive is maximum 3.5% of (Escalable+Non-escalable tariff) Tariff Based Competitive Bidding 20 20#21IndiGrid THANK You