Inox Wind Limited

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Greening INDIA CIN : W 1901 HP2009PLC031083 INOX Wind Limited Corporate Office: INOX Towers, Plot No. 17, Sector-1 6A, Noida-201301, Uttar Pradesh, India. Tel: +91-120-6149600 Fax: +91-120-

3.3MW

ness segment turns EBITDA positive after nearly 5 years  Type Certificate for the state-of-the-art 3.3MW WTG received from TUV SUD  Orderbook stands at a robust 1,327MW, across 2MW and 3.3MW WTGs  Addit

1,327MW

Certificate for the state-of-the-art 3.3MW WTG received from TUV SUD  Orderbook stands at a robust 1,327MW, across 2MW and 3.3MW WTGs  Additional large order inflow during the quarter of 250MW – 150MW of f

2MW

the state-of-the-art 3.3MW WTG received from TUV SUD  Orderbook stands at a robust 1,327MW, across 2MW and 3.3MW WTGs  Additional large order inflow during the quarter of 250MW – 150MW of follow up ord

250MW

t a robust 1,327MW, across 2MW and 3.3MW WTGs  Additional large order inflow during the quarter of 250MW – 150MW of follow up order from NTPC and 100MW of order from ABEnergia Renewables, both for 3.3MW

150MW

st 1,327MW, across 2MW and 3.3MW WTGs  Additional large order inflow during the quarter of 250MW – 150MW of follow up order from NTPC and 100MW of order from ABEnergia Renewables, both for 3.3MW WTGs 

100MW

Additional large order inflow during the quarter of 250MW – 150MW of follow up order from NTPC and 100MW of order from ABEnergia Renewables, both for 3.3MW WTGs  Merger of IWEL into IWL approved – to s

Rs. 352.3

 Merger of IWEL into IWL approved – to simplify the business structure  Consolidated Revenue of Rs. 352.3 cr in Q1 FY24 vs Rs 213.0 cr in Q1 FY23, registering a growth of 65% YoY  Consolidated EBITDA of Rs

Rs 213.0

approved – to simplify the business structure  Consolidated Revenue of Rs. 352.3 cr in Q1 FY24 vs Rs 213.0 cr in Q1 FY23, registering a growth of 65% YoY  Consolidated EBITDA of Rs. 34.9 cr in Q1 FY24 vs EB

65%

Consolidated Revenue of Rs. 352.3 cr in Q1 FY24 vs Rs 213.0 cr in Q1 FY23, registering a growth of 65% YoY  Consolidated EBITDA of Rs. 34.9 cr in Q1 FY24 vs EBITDA loss of Rs 25.7 cr in Q1 FY23  Inter

Rs. 34.9

3 cr in Q1 FY24 vs Rs 213.0 cr in Q1 FY23, registering a growth of 65% YoY  Consolidated EBITDA of Rs. 34.9 cr in Q1 FY24 vs EBITDA loss of Rs 25.7 cr in Q1 FY23  Interest expense of Rs 69.6 cr in Q1 FY24 in

Rs 25.7

, registering a growth of 65% YoY  Consolidated EBITDA of Rs. 34.9 cr in Q1 FY24 vs EBITDA loss of Rs 25.7 cr in Q1 FY23  Interest expense of Rs 69.6 cr in Q1 FY24 includes Rs 7.9 cr on account of Nani Vira

“ We believe India’s wind capacity commissioning in FY24 will be ~4GW, which is a substantial increase from 1.1GW/2.3GW in FY22/FY23.”

“From FY25 onwards, wind capacity commissioning may increase to upwards of 5GW.”

“12 IWL - BENEFITTING FROM THE TAILWINDS 13 13 WTG ORDER BOOK – Q1 FY24-END Particulars SECI NTPC LOI for 3.3 MW WTG from Adani Retail and others Total as of FY23-end Less: supplied Net orderbook as at FY23-end * Order capacity (MW) 350 500 501.6 143.1 1,494.7 168 1,326.7 Execution of NTPC’s 150 MW project is progressing well.”

“Execution of NTPC’s 200 MW project has also commenced 14 3.3MW WTG - TYPE CERTIFICATION RECEIVED Type certification has been received from TUV SUD WTG has been developed with globally renowned AMSC as the technology partner, and features a 100 m tubular tower and 145 m rotor diameter.”

“20 IGESL – GROWTH STRATEGY GOING FORWARD  A.”

“ Customers across the board are looking for a switchover to a strong, credible, renowned and Indian O & M service provider and we are sweetly placed to capture this opportunity going forward.”

“In particular, such statements should not be regarded as a projection of future performance of IWL.”

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above Regd. Office: Plot No.1, Khasra No.264 to 267, Industrial Area, Village-Basal, Distt. Una-174 303, (H.P.) India. Tel: +91-1975-272001 An +FL .lvO1O ,1.1,48n Group Company INOX WIND LIMITED Q1 FY24 RESULTS PRESENTATION JULY 2023 1 CONTENTS 1. KEY HIGHLIGHTS FOR THE QUARTER 2. GROUP & COMPANY OVERVIEW 3. MACRO ENVIRONMENT TURNING FAVOURABLE FOR THE WIND SECTOR 4. IWL - BENEFITTING FROM THE TAILWINDS 5. IGESL – WIND O&M BUSINESS – STABILITY WITH GROWTH 6. Q1 FY24 EARNINGS UPDATE 2 KEY HIGHLIGHTS OF THE QUARTER  IWL’s manufacturing business segment turns EBITDA positive after nearly 5 years  Type Certificate for the state-of-the-art 3.3MW WTG received from TUV SUD  Orderbook stands at a robust 1,327MW, across 2MW and 3.3MW WTGs  Additional large order inflow during the quarter of 250MW – 150MW of follow up order from NTPC and 100MW of order from ABEnergia Renewables, both for 3.3MW WTGs  Merger of IWEL into IWL approved – to simplify the business structure  Consolidated Revenue

Note

• • Wind and solar LCoE calculations done at 11% internal rate of return while coal calculations done at 16% return on equity • • Does not include transmission and distribution charges for any source Pit-head are coal plants using domestic coal and located near the mine; domestic far plants also use domestic coal but are located far from the mine (~500 km); Imported fuel plants make use of imported Australian coal 10 OPPORTUNITIES FOR THE INDIAN WIND SECTOR ARE IMMENSE RENEWABLE ENERGY IMPLEMENTATION AGENCY-WISE BIDDING CALENDAR FOR FY24 RENEWABLE PURCHASE OBLIGATION TRAJECTORY NOTIFIED BY THE MoP OTHER LARGE-SCALE OPPORTUNITIES Year FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 Wind RPO HPO Other RPO Total RPO 0.81% 1.60% 2.46% 3.36% 4.29% 5.23% 6.16% 6.94% 0.35% 0.66% 1.08% 1.48% 1.80% 2.15% 2.51% 2.82% 23.44% 24.81% 26.37% 28.17% 29.86% 31.43% 32.69% 33.57% 24.61% 27.08% 29.91% 33.01% 35.95% 38.81% 41.36% 43.33% Storage (on energy basis) - 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% State a