Investor Presentaiton

AEL: MSPVL - Largest Solar PV manufacturer in India... Competing on Quality, Cost & Scale Largest integrated module manufacturer in India Global recognition for quality & performance World Class Manufacturing Facility 12001200 Module ■Cell 1000 900 TIER Bloomberg NEW ENERGY FRANCE 500 300 Rated as Tier 1 by BNEF in 2018 OCEA 2018 410 430 DNV-GL Rated as Top performer by DNV in 2018 Munich RE EAUTY CARD Rated as Bankable by CEA in 2018 Rates as Bankable by Munich RE in 2018 Adani Tata Power Solar Vikram Solar Waaree Indo Solar Jupiter Solar ▼SOLARBUYER Rated as Bankable by 見 Solar Solarbuyer in 2018 BLACK&VEATCH Black & Veatch in 2018 Long term supplier relationships adani Investments in vertical integration enhance cost competitiveness Large scale of operations High level of automation adani Solar Investments in ancillary units Low taxes/duties in SEZ location Regulatory financial support Rated as Bankable by Manufacturing Facility at Mundra, Gujarat • State of art manufacturing facility built in a year ⚫ Best in class equipment from European & Chinese suppliers • Energy efficient building with IGBC Platinum rating Unique location to leverage cost advantages • Adani Solar can access cheaper raw material and enable supply of high quality PV products to more lucrative markets due to our unique location • Adani ports are the most efficient and have the quickest turnaround time when compared globally 31

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