Adani Energy Solutions Limited

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31st July, 2023 BSE Limited P J Towers, Dalal Street, Mumbai – 400001 National Stock Exchange of India Limited Exchange plaza, Bandra-K

19%

' Media Release Adani Energy Solutions Limited Consolidated Results for Q1FY24 AESL reports a 19% YoY increase in revenue in Q1FY24 PBT of Rs 343 Cr, up 70% YoY PAT increased by 8% during the qua

Rs 343

ted Consolidated Results for Q1FY24 AESL reports a 19% YoY increase in revenue in Q1FY24 PBT of Rs 343 Cr, up 70% YoY PAT increased by 8% during the quarter Adani Energy Solutions Ltd. (AESL), with ef

70%

ted Results for Q1FY24 AESL reports a 19% YoY increase in revenue in Q1FY24 PBT of Rs 343 Cr, up 70% YoY PAT increased by 8% during the quarter Adani Energy Solutions Ltd. (AESL), with effect from

8%

ESL reports a 19% YoY increase in revenue in Q1FY24 PBT of Rs 343 Cr, up 70% YoY PAT increased by 8% during the quarter Adani Energy Solutions Ltd. (AESL), with effect from July 27, 2023, is the new

Rs 3,622

Editor’s Synopsis Financial Highlights Q1FY24 (YoY): • Consolidated Revenue increased by 19% to Rs 3,622 Cr • Consolidated operational EBITDA grew by 3% to Rs 1,254 Cr • EBITDA at Rs 1,378 Cr grew by 4%

3%

• Consolidated Revenue increased by 19% to Rs 3,622 Cr • Consolidated operational EBITDA grew by 3% to Rs 1,254 Cr • EBITDA at Rs 1,378 Cr grew by 4% • PBT of Rs. 343 Cr was 70% higher YoY • PAT e

Rs 1,254

onsolidated Revenue increased by 19% to Rs 3,622 Cr • Consolidated operational EBITDA grew by 3% to Rs 1,254 Cr • EBITDA at Rs 1,378 Cr grew by 4% • PBT of Rs. 343 Cr was 70% higher YoY • PAT ended 8% highe

Rs 1,378

ased by 19% to Rs 3,622 Cr • Consolidated operational EBITDA grew by 3% to Rs 1,254 Cr • EBITDA at Rs 1,378 Cr grew by 4% • PBT of Rs. 343 Cr was 70% higher YoY • PAT ended 8% higher at Rs 182 Cr • Consoli

4%

622 Cr • Consolidated operational EBITDA grew by 3% to Rs 1,254 Cr • EBITDA at Rs 1,378 Cr grew by 4% • PBT of Rs. 343 Cr was 70% higher YoY • PAT ended 8% higher at Rs 182 Cr • Consolidated cash pr

Rs. 343

olidated operational EBITDA grew by 3% to Rs 1,254 Cr • EBITDA at Rs 1,378 Cr grew by 4% • PBT of Rs. 343 Cr was 70% higher YoY • PAT ended 8% higher at Rs 182 Cr • Consolidated cash profit of Rs 649 Cr d

Rs 182

EBITDA at Rs 1,378 Cr grew by 4% • PBT of Rs. 343 Cr was 70% higher YoY • PAT ended 8% higher at Rs 182 Cr • Consolidated cash profit of Rs 649 Cr during the quarter was 11% lower YoY due to the one-time

“220 bn (including the Mumbai-HVDC project and smart metering LOI projects) Distribution: Expansion into newer geographies through parallel license (Navi Mumbai, Greater Noida, Aurangabad, Nashik) Strong growth potential in the Smart Metering business Annual capex plan of Rs.”

“Strong thrust on the maintenance of the IG rating by constantly improving liquidity ratios, ensuring credit quality • Announced commitment to become Net Zero by 2050 • Achieved 30% renewable power procurement by the end of March 2023 and targeted 60% by FY27.”

Segment-wise Financial Highlights

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Segment-wise Key Operational Highlights

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Operational Update

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Other Key Updates

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From global rating agencies

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UNSDG aligned

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Others

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Our Commitment

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Notes

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Investor Relations

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Segment-wise Financial Highlights

Particulars (Rs Crore) Q1FY24 Q1FY23 Transmission Operational Revenue Operational EBITDA Margin (%) Total EBITDA PBT PAT Cash Profit Distribution(1) Revenue Operational EBITDA Total EBITDA PBT PAT Cash Profit 884 808 91% 862 295 162 417 2,738 447 516 48 20 232 836 767 92% 810 302 234 467 2,213 446 516 -100 -66 263 Change YoY % 6% 5% - 6% -2% -31% -11% 24% 0.3% 0.1% 148% 131% -12% • The increase in distribution revenue is on account of higher unit sold and the recovery of the past period regulatory gap of Rs 183 Cr, included in the regulatory deferral balances • Q1 PAT in the Transmission business declined due to a higher tax outgo of Rs. 65 Cr on dividend income at the parent AESL level, whereas Distribution PAT was Rs 20 Cr in the current quarter compared to a loss of Rs -66 Cr on account of mark-to-market movements of foreign currency loans in the previous periods

Segment-wise Key Operational Highlights

Particulars Transmission business Average Availability (%) Q1FY24 Q1FY23 99.77% 99.18% Transmission Network Added (ckm) 550 372 Distribution business (AEML) Supply reliability (%) Distribution loss (%) Units sold (MU's) 99.99% 4.85% 99.99% 6.95% 2,754 2,560 • Added 550 ckm in Q1FY23 and maintained system availability at 99.77% • Energy demand (units sold) improved by 8% YoY in Q1FY24, driven by a marginal increase in commercial segment demand • Distribution losses in AEML in Q1 were 4.85%, with a higher share of e-payments at 78.5%. The distribution loss fell steeply due to seasonal factors like higher billing days • AEML continues to provide its customers with a unique proposition of competitive tariffs and renewable energy, which constitute more than 30% of their energy mix Recent Developments, Achievements and Awards: • Adani Transmission Limited (ATL)'s name has been changed to Adani Energy Solutions Limited (AESL) effective July 27, 2023. The new name paves the way to tap huge opp

Operational Update

– Maintained system availability upwards of 99.77% – Added 550 ckms to operational network during the quarter with total network at 19,778 ckms – Received LOA for three smart metering projects in Andhra Pradesh totaling 2.7 million smart meters with a contract value of Rs. 37 billion during the quarter – Distribution loss improving consistently and stands at 4.85% in Q1FY24 vs. 6.95% in Q1FY23. The loss was lower than usual due to seasonal factors. – Maintained supply reliability (ASAI) of more than 99.9% – 7.61% YoY growth – units sold 2,754 million units vs. 2,560 million units last year on account of uptick in energy demand – E-payment as a % of total collection at 78.5% in Q1FY24 vs. 74.7% last year driven by digital adoption push Financial Update (YoY): − Consolidated Revenue increased by 19% to Rs 3,622 Cr − Consolidated operational EBITDA grew by 3% to Rs 1,254 Cr and EBITDA at Rs 1,378 Cr grew by 4% − PBT of Rs. 343 Cr was 70% higher YoY − PAT ended 8% higher at Rs 182 Cr − Con

Other Key Updates

– Adani Energy Solutions Ltd. (AESL), with effect from July 27, 2023, is the new name for the erstwhile Adani Transmission Ltd. This has been done to reflect the company’s overarching offering in multiple facets of the energy domain – – – – – – AEML secured Rank 1 out of 71 discoms evaluated and scored 99.6% out of 100 in the Integrated Discom Ranking released by the MoP, PFC and McKinsey Adani Energy Solutions has won the prestigious Golden Peacock Award in Environment Management (GPEMA). This award underscores company’s commitment to sustainable practices. AESL is in the Top 50 of India’s Most Sustainable Companies in the annual ranking of BW Business World. AESL was featured in the top 3 most sustainable companies. AESL won five ‘Par-Excellence Award’ at 9th National Conclave on 5S, organized by the prestigious Quality Circle Forum of India HQ (QCFI) demonstrating its unparallel commitment to business excellence. AESL gets recognition for contributing to SEBI ICAI BRSR back testing

From global rating agencies

MSCI ESG Rating of ‘BBB’ DJSI-S&P Global Corporate Sustainability Assessment score of 59/100 FTSE Score of 4.0/5 (world utilities avg. 2.7/5) – – – AESL - ESG Framework 0 8 AESL: ESG Framework Policies Guiding principle Guiding Principles and Disclosure Standards TCFD IR framework reporting CDP disclosure United Nations Global Compact GHG Protocol SBTi G S E ESG Commitment Assurance UN Sustainable Development Goals GRI Standards Policy Structure Focus Areas E S G • Environment Policy • Energy Management System • Corporate Social Responsibility Policy • Occupational Health & Safety Policy • Customer Grievance Redressal Mechanism • Corporate Social Responsibility Committee • Corporate Responsibility Committee • Risk Management Committees • Stakeholders Relationship Committee

UNSDG aligned

• Affordable & Clean Energy • Sustainable Cities and Communities • Climate Action • Good Health & well being • Quality Education • Industry, Innovation & Infrastructure