Investor Presentation August, 2022

O 500 1000 2000 1500 3000 2500 I T T 1000 1500 о 3000 6000 9000 4260 T 2580 19/20 3500 Sugar Based Ethanol Grain Based Ethanol T 1100 1500 1100 1600 po. 4500 2600 5190 3000 6250 3500 7250 4500 7300 7000 The journey to 20% ethanol blending creates massive growth opportunity 15000 Sugar Based Ethanol Grain Based Ethanol 12000 15000 12000 Sugar Based Ethanol Grain Based Ethanol 12000 10000 Sugar Based Ethanol Grain Based Ethanol 20/21 21/22 22/23 23/24 24/25 25/26 Distillation Capacity (in Million Ltrs) 1100 1700 1100 1800 1100 1900 1340 2000 5 15 10 5 10 0.5. о 7600 7400 3000 6000 I 2570 9000 1660 20 Sugar Based Ethanol Grain Based Ethanol 1.1 I 4000 1920 4400 2670 5350 2930 6000 3880 6600 6260 19/20 20/21 21/22 22/23 23/24 24/25 25/26 Ethanol Demand (in Million Ltrs) 8.5 10 Ethanol available for other uses (in Million Ltrs) Ethanol Blend (%) Source: Report of the Expert Committee, NITI Aayog | Ministry of Petroleum and Natural Gas Investor Presentation August, 2022. 19/20 20/21 21/22 22/23 23/24 24/25 25/26 19/20 20/21 21/22 22/23 23/24 24/25 25/26 7.4 7.6 + 9.3 2.7 12 10.5 4.5 15 11.1 8.9 O 10.8 9.2 5 20 20 25 10 15 20 6840 6660 о 2000 4000 6000 8000 1570160 I I 2900 420 3300 1070 4250 1230 4900 2080 19/20 20/21 21/22 22/23 23/24 24/25 Ethanol Available for Fuel (in Million Ltrs) Sugar Based Ethanol. Grain Based Ethanol 19/20 20/21 21/22 22/23 23/24 24/25 25/26 Sugar Diversion / Grain Usage For Ethanol (MMT) 26 6.5 15.7 17.2 25/26 5500 4380 5500 4660 GULSHAN POLYOLS LIMITED

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