Q1 FY23 Operational Performance Update

Superior 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

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