TATAPOWERNSE28 October 2022

Tata Power Company Limited has informed the Exchange about Investor Presentation

Tata Power Company Limited

BSE Limited Corporate Relationship Department 1st Floor, New Trading Ring, Rotunda Bldg., P. J. Towers, Dalal Street, Fort, Mumbai 400 001. Scrip Code: 500400

Dear Sirs,

28th October 2022 BJ/SH-L2/

National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051. Symbol: TATAPOWER

Presentation to Analysts

We forward herewith a presentation that will be made to the Analysts today in connection with the Audited Standalone and Unaudited Consolidated Financial Results of the Company for the quarter and half-year ended 30th September 2022.

Yours faithfully, For The Tata Power Company Limited

H. M. Mistry Company Secretary

Encl: As above

The Tata Power Company Limited Financial Results – Q2 FY23

28th October 2022

Disclaimer

This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any jurisdiction or as an inducement to enter into investment activity. No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This document is not financial, legal, tax or other product advice.

This presentation should not be considered as a recommendation to any investor to subscribe for, or purchase, any securities of the Company and should not be used as a basis for any investment decision. This document has been prepared by the Company based on information available to them for selected recipients for information purposes only and does not constitute a recommendation regarding any securities of the Company. The information contained herein has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with the document. Furthermore, no person is authorized to give any information or make any representation, which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the Company.

The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any person of such revision or changes. This document is given solely for your information and for your use and may not be retained by you nor may this document, or any portion thereof, be shared, copied, reproduced or redistributed to any other person in any manner. The distribution of this presentation in certain jurisdictions may be restricted by law. Accordingly, any person in possession of this presentation should inform themselves about and observe any such restrictions. By accessing this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.

The statements contained in this document speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances on which any such statements are based. By preparing this presentation, none of the Company, its management, and their respective advisers undertakes any obligation to provide the recipient with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in any such information which may become apparent.

This document has not been and will not be reviewed or approved by a regulatory authority in India or by any stock exchange in India. This document and its contents should not be forwarded, delivered or transmitted in any manner to any person other than its intended recipient and should not be reproduced in any manner whatsoever.

This presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration, or an exemption from registration, under the U.S. Securities Act of 1933, as amended. Any public offering in the United States may be made only by means of an offering circular that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements.

This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in the Company’s business, its competitive environment, information, technology and political, economic, legal and social conditions in India. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward- looking statements. In addition to statements which are forward looking by reason of context, the words ‘anticipates’, ‘believes’, ‘estimates’, ‘may’, ‘expects’, ‘plans’, ‘intends’, ‘predicts’, or ‘continue’ and similar expressions identify forward looking statements.

Q2 FY23 Business Highlights

Q2 FY23 Highlights

➢ TPSSL receives ‘Letter of Award’ worth ₹ 612 crore to set up 100 MW ground mounted project for SJVN in Gujarat. ➢ TPSSL receives ‘Letter of Award’ worth ₹ 596 crore to set up 125 MWp floating solar project for NHDC Limited

➢ Tata Motors and Tata Power have entered into a PPA to develop a 4 MWp on-site solar project at Tata Motors’ Pune commercial vehicle manufacturing facility. The installation is collectively expected to generate 5.8 million units of electricity, potentially mitigating over 10 lakh tonnes of carbon emission.

➢ Tata Power Trading and 75F Smart Innovations India join hands to promote Automation and Energy-Efficiency

Solutions for the Indian Commercial Buildings segment.

➢ Resurgent Power Ventures Pte. Ltd completes acquisition of South East UP Power Transmission Co. Ltd ➢ Tata Power to install smart meters for all its 7.5 Lacs Consumers in Mumbai by FY25

➢ Tata Power to set up 60+ EV charging points across JP Infra's residential projects to accelerate sustainable mobility in

Mumbai

➢ Tata Power sets up 450+ EV charging points across 350 national highways

➢ Tata Power Solar won the “Top Brand Module Company for Year 2022” by EQ International for the world-class solar

manufacturing facility at Bengaluru.

➢ Tata Power makes it to the top companies in Fortune India’s “Employers of the Future” list

Manifesting a Greener Tomorrow

Water Neutral Before 2030

Net Zero Carbon Before 2045

Zero Waste to Landfill Before 2030

Solar Businesses - Quarter Highlights

Achieved ~100% revenue growth over Q2 FY22

Focusing on Profitable growth

Rooftop Solar

Solar Pump

Revenue (in ₹ crore)

577

561

298

Revenue (in ₹ crore)

205

241

111

Q2 FY22

Q2 FY23

Q1 FY23

Q2 FY22

Q2 FY23

Q1 FY23

➢ Orders of 330 MW won in Q2; 90% orders from C&I segment. ➢ Order book as of 30th Sep 2022 - 393 MW worth ₹ 1,434 crore. ➢ 56 Channel partners added to reach 430 channel partners. ➢ Off-grid product with Tata Power branded batteries and inverters,

launched in UP, Bihar, Jharkhand and West Bengal

➢ 6,087 pumps installed in Q2 FY23. ➢ Cumulative installation till 30th Sep of 17000+ pumps. ➢ Order of 4,342 units received from UP Agriculture ₹ 73.02 Cr ➢ Planned deferment of certain projects resulted in lower revenue in

current quarter which will materialize in coming quarters.

Tata Power EZ Charge

Operational Highlights

EV Charging Platform Statistics

Cumulative installation of E-bus charging points till Sep 22 - 242.

5,321 home chargers installed in Q2. Cumulative installation – 23,834.

722 EV chargers installed in Q2. Cumulative installation – 3,093.

89700+ Registered Users

251K+ Charging Sessions

13mn+ charging minutes

2561k+kWh units consumed 17mn+ km e-mobility

Business Highlights

Spread Across 475 Cities (+38 cities in Q2)

Note: Data as on 30th Sep 2022

➢ Tata Power transforming green mobility landscape; sets up

450+ EV charging points across 350 national highways.

➢ Tata Power to set up 60+ EV charging points across JP Infra's residential projects to accelerate sustainable mobility in Mumba

Tata Power Green Energy Ltd. commissions 225 MW Hybrid power project for TPC-D Mumbai

Solar Utility Scale EPC- Large Projects update

WELL DIVERSIFIED UTILITY SCALE ORDER BOOK

➢ Projects totaling 625 MW commissioned in Q2 FY23 ➢ 188 MW new orders won in Q2 FY23 ➢ Construction activities commenced for SJVN’s 1GW

project

➢ Planned rescheduling of

certain large projects

resulted in lower revenue in current quarter

CustomerAC Capacity (MW)Tata Power Group1,360 NTPC770 NHDC88 SECI140 SJVN1,100 NHPC340 Total Capacity as on 30th Sep 20223,799 Order Book as on 30th Sep 2022 (₹ Cr) 15,261 Odisha DISCOMS- Quarter Highlights

TPCODL

TPSODL

TPWODL

TPNODL

On track to achieve AT&C loss of 12- 15% by FY 2025

Record collection of ₹451 Crores in Q2 FY 23.

Collection efficiency of ~90% achieved.

More 90% than Collection Efficiency achieved all segments.

Reducing AT&C losses= Promising Growth

H1 FY23-Strong Operational Performance across all DISCOMS

AT&C Losses (%)

Category

TPCODL

TPSODL TPWODL TPNODL

TPCODL

TPSODL

TPWODL

TPNODL

H1 FY 22

H1 FY 23

Theft load – MW

Meters replaced (till date) – Lakhs

Sub-stations automated (till date) – Nos

Pre takeover arrears collected - YTD ₹ Cr

9.07

169

4.03

173

2.10

112

3.66

122

130

Q2 FY23 Financial Highlights

Fig. in INR Cr

Strong all round operational performance across the businesses and higher coal profits, PAT up by 85% YoY

*Reported EBITDA includes other income

Q1 FY23Q2 FY23Q2 FY22Q1 FY23Q2 FY23Q2 FY22Q1 FY23Q2 FY23Q2 FY222,1072,0431,7322,9103,2622,355884935506(3%)18%12%39%6%85%Reported EBITDA*Underlying EBITDA (Including Share of JVs & Associates)PAT (before exceptional items)Q1 FY23Q2 FY23Q2 FY22Q1 FY23Q2 FY23Q2 FY229,4429,3636,34742,34339,48639,459ReceivablesNet External DebtQ1 FY23Q2 FY23Q2 FY22778736707(5%)4%Renewables EBITDAComfortable debt position for sustainable growth

NET DEBT COME DOWN TO A SUSTAINABLE LEVEL

EQUITY INFUSION~ PAVE THE WAY TO ACHIEVE GROWTH TARGET

Net Debt

42,343

39,459

39,486

Q2 FY22

Q2 FY23

Q1 FY23

DEBT PROFILE

Net Debt to Equity

Net Debt to Underlying EBITDA (on rolling 12 month basis)

Average Borrowing Cost

1.32 v 1.62 in Q2 FY22

3.52 v 4.27 in Q2 FY22

7.04% v 6.55% in Q2 FY22

Installed Generation Capacity as on 30th Sep 22

GENERATION PORTFOLIO ~ 37% CLEAN & GREEN

WHRS = Waste Heat Recovery System BFG= Blast Furnace Gas

16.5 MW solar projects have been commissioned in Oct taking total capacity to 14,002

HydroWHRS/ BFGWindSolarCaptive429174255255Merchant246246126120PPA/ Fixed Tariff (Bid/ Others)4,6454,338307307PPA/ Fixed Tariff (Renewables)3,8703,8709322,938Regulated tariff 2,7752,328447447Tolling/Fixed Tariff40400Total Capacity w/o Platform12,0056,8805,1258803759322,938Thermal under Platform - PPA based1,9801,980Total Capacity incl Platform13,9858,8605,1258803759322,938Business ModelMWThermalClean & Green Clean and Green Break-upT&D Portfolio and RE Pipeline as on 30th Sep 22

CURRENT T&D PORTFOLIO

LARGE SOLAR PROJECT DEVELOPMENT PIPELINE

Transmission

Business Model

Mumbai Transmission

Powerlinks (JV)

Total

Regulated

CKM

1,224

2,328

3,552

Distribution

Business Model

Consumers in Million

Customer

KSEB

Tata Steel

GUVNL

RUMSL

Mumbai

TPDDL

TPCODL

TPSODL

TPWODL

TPNODL

TPADL

Total

Dist License

Dist Franchisee

0.8

1.9

MAHAGENCO

MSEDCL - Hybrid

2.7

SECI - Hybrid

2.4

2.3

2.1

0.2

12.4

Viraj Profiles

Endurance

Parag Dairy

Tata Communications

Total

State

Capacity (MW)

110

330

250

300

600

100

1,790

Q2 FY23 Operational Highlights

Generation - Availability

Transmission - Availability

100

Thermal (excl. Mundra)

Mundra

MO - Hydro

Wind

Solar

Plant Load or Capacity Utilization factor

Powerlinks

MO - Transmission

100

MO - Distribution

TPDDL

TPCODL

Thermal (excl. Mundra)

Mundra

MO - Hydro

Wind

Solar

TPADL

AT&C Losses - Distribution

0.4 0.5

(0.8)

8.0 7.2

5.0

8.8 8.9

6.2

35.7

23.7

30.7

Financial Results

Consolidated Performance – Q2 FY23

Op Income

EBITDA^^

PAT

INR Cr unless stated

Particulars

Q2 FY23 14,163

Q2 FY22 9,502

Q2 FY23 2,043

Q2 FY22 1,732

Consolidated before exceptional items Standalone & Key Subsidiaries Tata Power (Standalone) MPL (Maithon Power)* TPDDL (Delhi Discom)** TPTCL (Power Trading) Tata Power Solar (Solar Mfg) TPREL Standalone (Renewable Power) WREL (Renewable Power) Coal SPVs (Investment Companies) TERPL (Shipping Co) TP Central Odisha Dist Ltd (CESU)** TP Southern Odisha Dist Ltd (SOUTHCO)** TP Western Odisha Dist Ltd (WESCO)** TP Northern Odisha Dist Ltd (NESCO)** TPIPL (Overseas Investment Co) Others TOTAL - A Joint Venture and Associates TOTAL - B Eliminations# TOTAL - C Previous year numbers are restated *Tata Power (TPCL) stake-74%; **TPCL stake-51%; # Eliminations include inter-company transactions; ^^ including other income

1,683 191 332 (6) 125 326 260 (1) (8) 66 35 102 45 7 116 3,272 - 3,272 (1,229) 2,043

2,116 773 2,391 121 1,515 343 292 0 96 956 438 1,024 685 - 259 11,009 - 11,009 (1,507) 9,502

4,888 810 2,964 160 1,135 416 275 (0) 138 1,222 547 1,640 817 - 311 15,323

539 201 307 23 117 302 279 (1) 243 62 38 12 40 17 72 2,250 - 2,250 (518) 1,732

15,323 (1,161) 14,163

Q2 FY23 935

Q2 FY22 506

662 82 113 (6) 50 29 92 (151) (29) 3 9 46 4 (20) (3) 881 1,219 2,101 (1,166) 935

(319) 98 95 16 30 48 87 (56) 214 15 17 (16) 5 (0) 23 257 623 880 (374) 506

Consolidated Performance – YTD FY23

INR Cr unless stated

Particulars

Op Income

EBITDA^^

PAT

YTD FY23

YTD FY22

YTD FY23

YTD FY22

YTD FY23 YTD FY22

28,939

19,476

4,097

4,150

4,877 1,476 4,499 180 3,464 654 626 0 250 1,966 859 2,019 1,281 - 487 22,639 - 22,639 (3,163) 19,476

2,954 380 672 (20) 140 697 617 (2) 50 133 80 106 87 15 185 6,095 - 6,095 (1,945) 4,150

10,158 1,564 6,087 233 2,488 858 656 0 305 2,520 1,068 2,996 1,603 - 601 31,137

1,944 391 658 43 191 553 597 (2) 282 65 91 35 68 24 127 5,067 - 5,067 (970) 4,097

31,137 (2,199) 28,939

1,819

971

1,084 162 234 (18) 17 83 262 (226) (2) 10 27 23 11 (31) (6) 1,629 2,022 3,652 (1,833) 1,819

(149) 177 218 29 52 72 210 (96) 224 (13) 32 (18) 2 (6) 33 767 989 1,755 (784) 971

Share of JVs & Associates

INR Cr unless stated

Particulars

% Share

Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22

YTD FY23

YTD FY22

YTD FY23

YTD FY22

YTD FY23

YTD FY22

Op Income

EBITDA

PAT

Op Income

EBITDA

PAT

Coal Companies (KPC, BSSR, AGM)

30% / 26%

30%

51%

74% 26% 48%

Coal Infrastructure Companies (NTP)

Powerlinks Trans Ltd

Industrial Energy Ltd (IEL) Resurgent Power Tata Projects Others JVs (including adjustments)

Total- Joint Ventures & Associates

5,452

3,112

1,622

1,083

1,096

520

10,278

5,641

3,072

1,766

2,092

799

66 327 2,028

53 264 1,476

46 82 88

36 100 39

31 29 6

22 45 (37)

131 598 3,751

135

106 523 2,965

92 147 (123)

133

74 172 105

62 42 (216)

47 65 (51)

7,975

5,019

1,945

1,361

1,219

623

14,916

9,452

3,307

2,317

2,022

989

Underlying Consolidated EBITDA

INR Cr unless stated

Particulars

Reported EBITDA Less: PAT of JV Companies

KPC & BSSR Coal Infra Powerlinks IEL Tata Projects Resurgent Others

Adjusted Business EBITDA Less: Depreciation Less: Finance Cost PBT as per line item no.7 in Adv

Q2 FY23

Q2 FY22

Qtr Var

YTD FY23

YTD FY22

YTD Var

2,043 1,219 1,096 39 9 31 6 29 10 3,262 838 1,052 1,373

1,732 623 520 44 10 22 (37) 45 18 2,355 771 946 638

310 597 576 (6) (1) 9 43 (17) (8) 907 (66) (105) 735

4,150 2,022 2,092 11 19 62 (216) 42 12 6,172 1,660 2,078 2,435

4,097 989 799 84 21 47 (51) 65 23 5,086 1,518 1,892 1,676

53 1,034 1,292 (73) (2) 16 (165) (23) (11) 1,086 (141) (186) 759

Tata Power (Consolidated) Financial Performance

INR Cr unless stated

* As per line item 13 in the SEBI Advt

Particulars (INR Cr)Q2 FY23Q2 FY22Qtr VarYTD FY23YTD FY22YTD VarQuarter Variance RemarksOperating Income14,1639,5024,661 28,93919,4769,463 Higher power prices in distribution business & availability in MundraOperating Expenses12,2708,147(4,124) 25,08215,934(9,149) Higher power & fuel pricesOperating Profit1,8921,355537 3,8563,542314 Other Income150377(227) 294555(261) PY includes exchange gain on sale of TERPL to TPIPLEBITDA2,0431,732310 4,1504,09753 Interest cost1,052946(105) 2,0781,892(186) Higher loan for capexDepreciation838771(66) 1,6601,518(141) Increased capacityPBT before share of Assoc & JVs15315139 413687(275) Share of Associates & JV's results1,219623597 2,0229891,034 Higher profit from Coal CosPBT after share of JV1,373638735 2,4351,676759 Tax Expenses438132(306) 61670588 Higher PBT and unwinding of deferred tax due to higher dividendPAT*9355064301,819971847Tata Power (Standalone) Financial Performance

INR Cr unless stated

PY has been restated with the merger of CGPL and Af-taab in TPCL standalone.

ParticularsQ2 FY23Q2 FY22Qtr VarYTD Q2 FY23YTD Q2 FY22YTD VarQuarter Variance RemarksOperating Income 4,888 2,116 2,772 10,158 4,877 5,281 Higher power price in distribution business & availability in Mundra plantOperating Expenses 4,356 2,096 (2,260) 9,077 3,946 (5,131)Higher fuel pricesOperating Profit 532 20 512 1,081 931 150 Other Income 1,151 519 632 1,873 1,012 860 Higher dividend received from coal SPV'sEBITDA 1,683 539 1,144 2,954 1,944 1,010 Interest cost 556 537 (19) 1,119 1,108 (11)Depreciation 286 285 (1) 577 561 (16)PBT 841 (283) 1,124 1,258 275 983 Tax Expenses 178 36 (143) 174 424 250 Unwinding of deferred tax due to higher dividendPAT (before exceptional items) 662 (319) 981 1,084 (149) 1,233 Exceptional item (net of tax) 538 1,334 (796) 538 1,519 (981)PAT for the period 1,200 1,015 185 1,622 1,370 252* Line no.11 of advertisementMaithon Power Limited - Highlights

In INR Cr unless stated

Particulars Generation (MUs) Sales (MUs) Availability (%) (Plant) PLF % Financials Operating Income Fuel Costs Other Operating expenses Operating profit Other Income EBITDA Interest cost Depreciation PBT Tax PAT

Q2 FY23 2,031 2,030 99% 88%

Q2 FY22 2,056 1,977 97% 89%

Qtr Var YTD FY23 4,030 3,989 97% 87%

(26) 53 2% -1%

YTD FY22 4,083 3,816 98% 89%

YTD VarQuarter Variance Remarks

(53) 174 -1% -1%

810 539 87 184 7 191 33 68 90 8 82

773 503 75 196 5 201 35 68 99 1 98

37 (36) (13) (12) 2 (10) 2 (1) (9) (8) (16)

1,564 1,037 163 365 15 380 66 136 177 15 162

1,476 946 148 382 8 391 69 137 185 8 177

88 Higher fuel cost

(91) (15) (18) 7 (11) 3 0 (7) (7) Reversal of MAT credit (15)

Prayagraj Power Generation Co Ltd. (PPGCL) - Highlights

In INR Cr unless stated

ParticularsQ2 FY23Q2 FY22Qtr VarYTD FY23YTD FY22YTD VarQuarter Variance RemarksGeneration (MUs)3,3533,0073466,3766,019356Sales (MU)3,1612,8283336,0085,668340Availability (%)85.2%79.6%5.6%79.7%82.4%-2.7%PLF % 76.7%68.8%7.9%73.3%69.2%4.1%FinancialsOperating Income1,2199972222,2191,972247 Higher PPA and merchant sales Operating expenses946730-2161,7651,475-290Operating profit2722676454497-43Other Income56132-76124174-50 Lower late payment surcharge cess received EBITDA 328399-70578671-93Interest cost180177-23563593Depreciation4945-49890-8PAT99176-77124222-98Tata Power Delhi Distribution Ltd - Highlights

INR Cr unless stated

ParticularsQ2 FY23Q2 FY22Qtr VarYTD FY23YTD FY22YTD VarPurchase (Mus)3,2583,037-2216,4465,308-1,138Sales (Mus)3,0492,8452046,0314,9601,071Revenue Per Unit (INR)9.608.271.339.968.911.05PPC Per Unit (INR)7.436.19-1.247.726.49-1.22AT&C losses (%)7.17%5.05%-2.12%7.17%5.05%-2.12%FinancialsIncome from Operation2,7422,1805615,4014,1181,283Power Purchase 2,2091,679-5294,3163,094-1,222 Other Operating Exp.221213-8456409-47Operating Exp.2,4301,892-5374,7723,503-1,270Operating Profit3122882462961613Other Income2019143421EBITDA3323072567265815Interest cost7577214615712Depreciation9493-1188185-3PBT1631372633931524Tax5042-810597-8PAT113951823421816Q2 FY23 Odisha Discoms – Highlights

INR Cr unless stated

TPCODLTPSODLTPWODLTPNODLPurchase (Mus)2,7231,0973,4031,677Sales (Mus)2,0638282,7921,337Revenue per unit (INR)5.626.605.725.66Power Cost per unit (INR)3.242.523.883.46Actual Technical losses (%) (YTD)24.1%24.1%20.0%19.7%Actual AT&C losses (%) (YTD)29.9%34.3%28.7%25.9%Vesting order Target AT&C losses (%) (YTD)23.7%26.0%20.0%19.2%Key Financials (INR Cr)Income from Operation1,2225471,640817EBITDA663510245PAT39464Tata Power Renewable Energy (excluding WREL) – Highlights

INR Cr unless stated

Particulars Q2 FY23 Q2 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance RemarksCapacity - Total (MW)2,8031,8769272,8031,876927Capacity - Wind (MW)78278207827820Capacity - Solar (MW)2,0211,0949272,0211,094927Generation (MUs) 1,4301,0104202,8141,889925Sales (MUs)1,4039894142,7651,850914Avg PLF (%) - Solar22%22%-1%23%24%-1%Avg PLF (%) - Wind29%31%-2%27%27%0%Financials (INR Cr)Operating Income5204081121,031771259Capacity addition offset by lower PLFOperating expenses11379-34216172-44Operating profit40732978815599216Other income422023513120EBITDA449349100866630235Interest cost228123-104415241-174Higher borrowings and interest costDepreciation170124-46329245-84Higher capacityPBT51102-51122145-23Tax20321242420PAT3170-3980102-22Walwhan Renewable Energy Ltd - Highlights

INR Cr unless stated

Particulars Q2 FY23 Q2 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance RemarksCapacity - Total (MW)1,0101,01001,0101,0100Capacity - Wind (MW)14614601461460Capacity - Solar (MW)86486408648640Generation (MUs) 381411-29872877-5Sales (MUs)377406-28863868-4Avg PLF (%) - Solar17%17%0%19%19%0%Avg PLF (%) - Wind18%25%-8%24%25%-1%Financials (INR Cr)Operating Income275293-1765662829Lower Wind PLFOperating expenses3529-67362-12Operating profit240264-2358356617Other income2017334312EBITDA260280-2061759819Interest cost76911415318430Debt repayment benefitDepreciation69791013815618PBT115110532525868Tax222306347-16PAT9287526221052Tata Power Solar Systems Limited – Highlights

INR Cr unless stated

Particulars (INR Cr) Q2 FY23 Q2 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance RemarksOperating Income1,1351,515-3802,4883,464-976Operating expenses1,0111,4384272,3513,329978Operating profit12477481371352Margin11.0%5.1%5.5%3.9%Other income040-39356-54PY includes interest income on receivableEBITDA1251178140191-51Margin11.0%7.7%5.6%5.5%Interest cost356126779114Better WC managementDepreciation1615-13129-2PBT7441343271-39Tax2410-1415184PAT5030201752-35Margin4.4%2.0%0.7%1.5%Green Company – Consolidated View

Note: EBITDA includes other income

Key Parameters- GreenCo (INR Cr)Q2 FY23Q2 FY22Revenue1,603 1,495 EBITDA736 707 PAT128 161 Gross Debt17,193 14,195 Net Debt15,033 13,733 Net Worth11,841 6,708 Regulated - Equity and Assets

INR Cr unless stated

ParticularsQ2 FY 23Q1 FY 23Q4 FY 22Q3 FY 22Q2 FY 22 Regulated Equity Mumbai Operation 4,3804,3704,3774,2434,212 Jojobera 522522522522522 Tata Power Delhi Distribution (100%) 1,8461,8391,8311,7691,764 TP Central Odisha Dist Ltd (100%) 504504504300300 TP Southern Odisha Dist Ltd (100%) 248248248200200 TP Western Odisha Dist Ltd (100%) 360360360300300 TP Northern Odisha Dist Ltd (100%) 295295295250250 Maithon Power Limited (100%) 1,6691,6611,6611,6511,651 Industrial Energy Limited (100%) 690690690716716 Powerlinks Transmission (100%) 468468468468468 Total 10,98110,95710,95610,41910,382 Regulated Assets (As per financial books) Mumbai Operation 2,9082,6202,0781,8101,762 Tata Power Delhi Distribution (100%) 5,9425,9185,8425,7075,472 TP Central Odisha Dist Ltd (100%) 288212631-5 TP Southern Odisha Dist Ltd (100%) 210125945650 TP Western Odisha Dist Ltd (100%) -1,043-812-635-511-333 TP Northern Odisha Dist Ltd (100%) 5423-96-85 Maithon Power Limited (100%) -253-252-222-300-242 Total 7,7967,6867,3066,6966,618Tata Power- Debt Profile

INR Cr unless stated

Q1 FY23Q2 FY22RupeeForexTotalTotalTotalLong term 26,206 3,391 29,597 30,014 27,854 Short term 10,010 1,798 11,808 11,007 10,383 Current Maturity of LT 8,130 - 8,130 8,672 7,275 Total Debt 44,346 5,189 49,535 49,693 45,512 Less: Cash 8,251 5,987 5,077 Less: Debt against dividend in Coal SPVs 1,798 1,363 976 Net External Debt 39,486 42,343 39,459 Equity 29,881 27,284 24,425 Net Debt to Equity 1.32 1.55 1.62 PARTICULARSCONSOLIDATEDQ2 FY23Key Segments-Debt Profile

30th Sep 202230th June 2022Change- 3 months30th Sep 2021Change - 12 monthsCoal SPVs + TPIPL 5,189 4,676 (514) 4,084 (1,105)Additional loan in lieu of dividendTPDDL 2,721 2,831 110 2,805 84 WREL 3,760 3,971 210 4,098 338 TPREL 11,365 10,134 (1,232) 5,702 (5,664)Increase in capex related borrowingsTPSSL 1,218 1,649 431 2,464 1,246 Better working capital managementMaithon 1,668 1,645 (23) 1,854 186 Odisha DISCOMs 1,881 1,700 (181) 1,109 (772)Higher capexTATA Power 21,420 22,765 1,345 23,324 1,904 Repayment of debtOthers 312 323 11 72 (240)Total Debt (LT+ST) 49,535 49,693 157 45,512 (4,023)Company Gross Debt (INR Cr)Quarterly movement RemarksLatest Tata Power resources uploaded on website

Sr. No.

Resources

Link

Tata Power ESG Profile

https://esg.churchgatepartners.com/login/CompanyProfile?id=3100 38003100240024004100530048004F004B0041004E0041004E005900 41004100560041004E004900410053004800570049004E00490024002 400

Tata Power Integrated Annual Report

https://www.tatapower.com/pdf/investor-relations/103Annual- Report-2021-22.pdf

TPCL Renewable Transaction Analyst Presentation

https://www.tatapower.com/pdf/investor-relations/tpcl-renewable- analyst-presenation-14apr2022.pdf

Analyst Day Presentation

https://www.tatapower.com/pdf/investor-relations/investor- presentation-august2022.pdf

Thank You!

Website: www.tatapower.com

Investor Relations Team:

Mr. Soundararajan Kasturi Chief – Treasury & Investor Relations Email: kasturis@tatapower.com M: +91 82912 04022

Mr. Rajesh Lachhani Head – Investor Relations Email: rajesh.lachhani@tatapower.com M: +91 9742947821

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