Investor Presentaiton

Thermal power is the base load power solution for India's electricity grid Significant potential for Indian power demand growth Per Capita Consumption (kWh) 13,098 Aggregate power demand to double by FY32 Billion Units 4,906 3,957 3,260 2,570 1,331 1,511 1,276 India Brazil World South Africa China USA FY21 Non-fossil sources will lead capacity addition Coal+Lignite (Installed capacity in GW) 382 55% FY23 CAGR 6.2% 1,908 FY27E adani Power 2,474 FY32E Thermal will continue serving base load demand Others CAGR 8.1% 900 Coal Renewable Others (Gross Generation in BU) 610 CAGR 6.6% 2,666 2,025 1,618 38% 29% 1,326 74% 59% 50% 78% FY21 FY27E FY32E FY21 FY23 Source: Central Electricity Authority (India), Statista, BP Statistical Review of World Energy, Energy Information Administration (USA), International Renewable Energy Agency (IRENA) | 1. From 2005 level GW: Gigawatt, TWh: Terawatt Hours, kWh: kilowatt hours FY27E FY32E 14

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