Rain Industries Limited

Jagan Reddy Nellore

Vice Chairman of RAIN Industries Limited.

Gerard Sweeney

President of RAIN Carbon Inc.; and

T. Srinivasa Rao

Chief Financial Officer of RAIN Industries

rs,

the first question is with regard to our volumes across segments. If we look at the last 5 - 7 years, our volumes across segments have stayed the same or decreased. How and by when do we expect to gro

45%

ce the completion of our vertical shaft calciner project in 2020, we have been operating at only ~45% of capacity in India. We were also impacted in the US as CPC imports into India have only been al

50%

es due to this super commodity cycle. Over the last two quarters, prices have fallen as much as 50%. As we have mentioned earlier, once we experience a change in market direction, there is a time l

185 million

ring the high pricing cycle. While earnings have been down year to year, we have released roughly 185 million dollars in cash back into the business. This will allow us to work toward the board’s directive

100%

2nd seeking requirement requests for pet coke – are we going to request enough material to ensure 100% capacity utilization? How much is needed for Rain, including the SEZ plant? Jagan Nellore T

15 %

for carbon anodes used in the lithium-ion Batteries. These specialty coating materials comprise 7-15 % of the graphite composition and are used for both natural and synthetic graphite. RAIN has, and i

2.5%

charges. The Term Loan has a principal amortization clause which requires principal payments of 2.5% in the first year and 5% in each subsequent year. These are paid on a quarterly basis with the fi

5%

s a principal amortization clause which requires principal payments of 2.5% in the first year and 5% in each subsequent year. These are paid on a quarterly basis with the first payment due December

50 Million

ng to repay over the next 12 months? What plans do we have for the remaining cash? Other than the 50 Million dollars due in April of 2025, what is the extent of debt we are planning to repay considering t

70 million

lexibility? And when? Srinivasa Rao As mentioned in the management presentation, we have repaid 70 million dollars during the refinancing in August 2023. Management is focusing on debt reduction which w

18%

nses, foreign exchange rates and interest rates. Our plan is to reduce the debt by at least 15 to 18% in the next 18 months. Sarang What was the amount paid to the investment bankers and lawyers fo

3.9 million

well as in the financial results, we have expensed the deferred financing cost of approximately 3.9 million dollars related to the refinanced debt, which would have been amortized over the next 1 to 1.5 ye

“Accordingly, RAIN Management will be addressing those questions in today’s call.”

“How and by when do we expect to grow the business?”

“Since the completion of our vertical shaft calciner project in 2020, we have been operating at only ~45% of capacity in India.”

“Are we on track to pick up those delayed volumes to positively impact 4th quarter?”

“Delayed third quarter volumes will be delivered during the fourth quarter.”

“As such, we really expect volumes to be normal for the fourth quarter, as seasonal volumes depart our portfolio of demand.”

“Can this be provided again going forward?”

“We believe the NRV adjustments have now dealt with the falling sales prices, and barring further market drops, we believe that no further adjustments will be needed.”

“There is clear guidance from our Board for management to focus on debt reduction over CAPEX in the near term.”

“Our Vertical Shaft Calcination Project has been impacted due to the Indian petroleum coke import restrictions.”

With me on the call today are

1

With me on the call today are

- Mr. Jagan Reddy Nellore – Vice Chairman of RAIN Industries Limited. - Mr. Gerard Sweeney – President of RAIN Carbon Inc.; and - Mr. T. Srinivasa Rao – Chief Financial Officer of RAIN Industries Limited Following the Earnings Presentation and Management Commentary that we released on November 7, 2023, we have been receiving questions from certain investors and analysts regarding industry developments and the status of our expansion projects. Accordingly, RAIN Management will be addressing those questions in today’s call. Before we begin, management would like to mention during this call, we may touch upon forward-looking statements, which encompass various topics such as performance, trends, objectives, and strategies. Please be aware that these statements are rooted in our current expectations and may be influenced by potential risks and uncertainties. Certain factors could potentially lead to outcomes differing from those predicted by these forward-looking statements. With that, we