Associated Alcohols & Breweries Ltd.

12.5 million

of 45 MLPA • The facility encompasses 32 bottling lines, with a collective capacity of producing 12.5 million cases annually • Owns a portfolio of 7 proprietary brands. • Ventured into Ethanol segment with

16%

a portfolio of 7 proprietary brands. • Ventured into Ethanol segment with a capacity of 40 MLPA 16% 16%16% 10 Years 10 Years 10 Years Revenue CAGR Revenue CAGR Revenue CAGR 18% 18%18% 10 Years 10

rs 10

roprietary brands. • Ventured into Ethanol segment with a capacity of 40 MLPA 16% 16%16% 10 Years 10 Years 10 Years Revenue CAGR Revenue CAGR Revenue CAGR 18% 18%18% 10 Years 10 Years 10 Years EBITDA

18%

pacity of 40 MLPA 16% 16%16% 10 Years 10 Years 10 Years Revenue CAGR Revenue CAGR Revenue CAGR 18% 18%18% 10 Years 10 Years 10 Years EBITDA CAGR EBITDA CAGR EBITDA CAGR 9% 9%9% EBITDA Margin EBI

9%

enue CAGR Revenue CAGR 18% 18%18% 10 Years 10 Years 10 Years EBITDA CAGR EBITDA CAGR EBITDA CAGR 9% 9%9% EBITDA Margin EBITDA Margin EBITDA Margin (FY23) (FY23) (FY23) 11% 11%11% ROE ROE ROE (F

11%

BITDA CAGR EBITDA CAGR 9% 9%9% EBITDA Margin EBITDA Margin EBITDA Margin (FY23) (FY23) (FY23) 11% 11%11% ROE ROE ROE (FY23) (FY23) (FY23) 8% 8%8% PBT Margin PBT Margin PBT Margin (FY23) (FY23

8%

EBITDA Margin EBITDA Margin (FY23) (FY23) (FY23) 11% 11%11% ROE ROE ROE (FY23) (FY23) (FY23) 8% 8%8% PBT Margin PBT Margin PBT Margin (FY23) (FY23) (FY23) 0.05x 0.05x 0.05x Net Net Net D

0.05x

OE ROE ROE (FY23) (FY23) (FY23) 8% 8%8% PBT Margin PBT Margin PBT Margin (FY23) (FY23) (FY23) 0.05x 0.05x 0.05x Net Net Net Debt/Equity Debt/Equity Debt/Equity (FY23) (FY23) (FY23) 29% 29%29%

29%

23) 0.05x 0.05x 0.05x Net Net Net Debt/Equity Debt/Equity Debt/Equity (FY23) (FY23) (FY23) 29% 29%29% 10 Years 10 Years 10 Years PAT CAGR PAT CAGR PAT CAGR 6% 6%6% PAT Margin PAT Margin PAT M

6%

bt/Equity (FY23) (FY23) (FY23) 29% 29%29% 10 Years 10 Years 10 Years PAT CAGR PAT CAGR PAT CAGR 6% 6%6% PAT Margin PAT Margin PAT Margin (FY23) (FY23) (FY23) 50.2x 50.2x 50.2x Interest Interest

50.2x

0 Years PAT CAGR PAT CAGR PAT CAGR 6% 6%6% PAT Margin PAT Margin PAT Margin (FY23) (FY23) (FY23) 50.2x 50.2x 50.2x Interest Interest Interest Coverage Coverage Coverage (FY23) (FY23) (FY23) 2 Full

67%

acturing for United Spirit Limited (Diageo) * Possibilities to use other starch-based Feedstocks 67% of ENA used for captive consumption B2B B2C 3 Present Across Liquor Value Chain o Adaptabil

“Ankit Agrawal Chief Financial Officer A Chartered Accountant and Company Secretary with over 14 years of diverse experience in finance, audit, taxation, IPOs, mergers, acquisitions, and project management.”

“Arun Sahni, A seasoned operations leader with over 39 years of experience in Project Management, Operations Management, Risk Assessment & Resources Management Mr.”

Installed Capacity

1

Adjustments for

1

Installed Capacity

40 MLPA 40 MLPA Supply To OMCs/Private players By Products: Cattle Feeds IMFL (Proprietary) IMFL Franchisee for Diageo and Inbrew IMIL Contract Manufacturing for United Spirit Limited (Diageo) * Possibilities to use other starch-based Feedstocks 67% of ENA used for captive consumption B2B B2C 3 Present Across Liquor Value Chain o Adaptability and Flexibility in using varied grains as Feedstock o On Ground Intelligence for Raw Material Sourcing Proprietary Brands - IMFL - IMIL IMFL Licensed Contract Manufacturing ENA Manufacturing -For Captive Consumption -For Alco Bev Companies Ethanol Manufacturing For OMCs/Private Players By Products Cattle Feed o 150 Acres of Single Location Land Bank o Energy Cost - Efficiency o Net Energy Surplus Unit o 10.5 MW Captive Power i i n n g g r r a a M M A A D D T T I I B B E E i i l l e e b b a a n n a a t t s s u u S S IMFL (Proprietary) c.15%-18% IMFL (Licensed) c.12%-15% IMIL c.8%-10% ENA c.8%-9% Ethanol c.8-9% i n g r a M A D T I B E l a t o T - %

Adjustments for

Depreciation / Amortisation Finance Cost Other Adjustements Interest Income Operating Profit before Working Capital Changes Movement in Working Capital (Increase)/Decrease in Trade Receivables (Increase)/Decrease in Inventories (Increase)/Decrease in Financial Assets (Increase)/Decrease in Other Assets Increase/(Decrease) in Trade Payables Increase/(Decrease) in Financial Liabilities Increase/(Decrease) in Other Liabilities & Provisions Cash From Operations Direct Tax Net Cash From Operations 812 143 9 -29 -58 877 121 -75 -21 -62 194 -6 -6 1023 -230 792 555 144 14 -7 -59 646 55 -202 -20 -134 -202 11 59 214 -146 68 Purchase of Property Plant & Equipment, CWIP and Intangible Assets Proceed from the Sale of Property Plant & Equipment Other Investing Avtivities Interest Income received Net Cash Flow used in Investing Activities Cash Flow from Financing Activities Proceeds from Non Current Borrowings Repayment of Non Current Borrowings Proceeds from/(Repayment) of Current Borrowings Proceed