Investor Presentaiton

Key Power Sector Trends Demand Trend a) All-India electricity demand increased by 12.7% YoY during Apr-Sep'21 b) Power demand is on a recovery mode post a transient supply-led downturn; strong demand growth of 3.4% YoY in first fortnight of October (on a high base of 12%) c) Increased power demand due to festival/agri season, residential demand (high temperatures) and uptick in manufacturing Supply issues a) Coal crisis driven by low imports at power plants on rising coal prices b) Resultant power demand- supply deficit and spike in merchant rates only temporary and seasonal c) Domestic coal-based plants ramp up to bridge the gap Technological Disruptions a) Cost of Solar and other Renewables reaching grid parity b) Development on Storage and Battery technologies c) Electrification of mobility will cause further shifts from Oil & Gas sector to Electricity d) Focus on reliability and sustainability of electricity delivery Increased investment in Transmission a) Implementation of GNA (general network access) can lead to further growth of spends on transmission b) Strong need to develop inter-regional transmission networks to connect the producing and consuming regions c) Increased investment in transmission required to add significant redundancy in the grid to reduce the destabilisation of the grid due to the intermittent nature of renewable generation IndiGrid Shifting Technological Disruptions Demand Patterns Decadal Growth Regulatory Dynamism Electricity demand may see a further boost in the medium term, driven by rise in EV adoption and economic growth 7

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