Investor Presentaiton

Mundra (4,620 MW) performance update Historical Operating Performance adani Power INR Crores Financial Performance 94% 81% 87% 75% 62% 54% 64% 59% Particulars Q2 FY20 Q2 FY19 H1 FY20 H1 FY19 Revenues 3,108 2,885 7,367 3,660 FY16 FY17 FY18 FY19 ■■Billed Availability ■PLF Of which Exceptional (30) 251 563 260 Operating Performance Parameters Q2 FY20 Q2 FY19 H1 FY20 H1 FY19 Fuel Cost 2,237 2,182 4,783 2,664 Billed Availability 84% 79% 87% 49% Other Opex 547 645 1,075 1,120 PLF 73% 71% 77% 44% EBITDA 323 57 1,509 (125) Net Units Sold 6.80 BU 6.55 BU 14.26 BU 8.10 BU PPA Tariff/u 3.80 3.36 3.89 3.27 Coal Consumed (MMT) 4.06 4.03 8.47 5.06 Fuel Cost/u 3.29 3.33 3.35 3.29 Coal Mix (Dom: 0:100 0:100 0:100 0:100 Imp %) Phase III capacity (1,320 MW) utilised for supplying power in Merchant market after GUVNL Bid-02 PPA termination Improvement in EBITDA due to tariff revision, following signing of SPPA pursuant to HPC recommendations 50

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