Investor Presentaiton

TATA POWER CGPL, Coal & Shipping Companies: PAT TATA External Debt All figs in Rs crs 2,000 1,500 12,000 1,423 9,989 10,000 979 8,538 797 1,000 8,000 7,072 500 5,818 6,000 FY17 F18 9M FY 19 -500 -1,000 -855 -1,500 -2,000 4,000 2,000 -1,408 CGPL Coal Cos+Shipping -1,363 CGPL Coal SPVS FY 18 9M FY 19 USD Per Tonne Consolidated -CGPL + Coal Cos 40 30 20 10 80 70 60 8222° 0.60 1.00 0.84 0.92 0.90 . 0.80 0.70 0.60 61.5 68.2 62.9 65.7 0.50 49.5 54.5 0.40 Rs per Unit 0.30 0.20 0.10 FY 17 FY 18 9M FY 19 Coal FoB - CGPL FOB Sales Coal Cos Under recovery in CGPL • Sharp rupee depreciation & increased coal prices widened CGPL losses. Coal blending increased to reduce the losses by securing higher discount to market prices DMO obligations have put the natural hedge under stress. However, Company refinanced CGPL loans to defer part of the repayment obligations reducing the gap funding significantly. Also, overall reduction in debt at CGPL + Coal SPVs 16

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