Investor Presentaiton

Raw Material Cost (Grey Cement) Raw Material cost (*/Mt) Q2 21 634 610 610 Q2FY23 Q1FY24 Q2FY24 Conversion Ratio and Fly ash Price index 110 114 113 105 105 103 Q2 23 Q1 24 Q2 24 Conversion Ratio (index) - Fly ash Price (index) India Operations YoY cost increase: 4% Increase in cost of raw materials: fly ash, slag etc. ➤Improvement in clinker conversion ratio to 1.44 vs 1.41 in Q2 FY23. QoQ cost increase: 4% Increase in cost of raw materials: gypsum, slag, etc. ADITYA BIRLA UltraTech 21 21

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