TATAPOWERNSE28 November 2023

Tata Power Company Limited has informed the Exchange about Investor Presentation

Tata Power Company Limited

TATA

November 28, 2023 BJ/SH-L2/

BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400 001. Scrip Code: 500400

Dear Sirs,

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra-Kurla Complex Bandra (East) Mumbai – 400 051. Symbol: TATAPOWER

Sub: Presentation to Analyst/Institutional Investors

In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we forward herewith a presentation that will be made today at the Analysts/Investors meet at Bhivpuri Hydro plant.

Yours faithfully, For The Tata Power Company Limited

(H. M. Mistry) Company Secretary

TATA POWER The Tata Power Company Limited

Registered Office Bombay House 24 Homi Mody Street Mumbai 400 001

Tel 91 22 6665 8282 Fax 91 22 6665 8801

Website : www.tatapower.com Email : tatapower@tatapower.com CIN : L28920MH1919PLC000567

Powering India Today and Tomorrow

This presentation is not an offer of securities for sale in ttie t:Jnitea States. Securities may not 15e offerea or sold in ttie United States al5sent 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.

. . .

ifhis document and its contents should not be forwarded,

TATA POWER

India's largest vertically-integrated power company

TATA

9,281 MW

Clean & Green Energy (Including 3,760MW in pipeline)

8,860Mw

Thermal energy generation (Installed capacity)

5,713 Ckm

Transmission capacity (Including 1,330Ckm in pipeline)

I New-age Energy Solutions

I Generation

12.4 Mn

Total distribution customers served

2.8 GW

MoU signed for Pumped Hydro Project (PSP)

>f18,700 Cr

Solar EPC order book- Large Scale Utility, Group Captive and Rooftop EPC

I Renewables

Transmission and Distribution

~4.9Gw

Manufacturing capacity including 4.3GW each of Cell & Module operational/under construction

>11.5 GW

EPC large projects executed and under pipeline

>4,900

Public EV charging points energised across 442 cities and towns

TATA POWER

Assets spread across India ...

TATA

Capacity Mix (Domestic+ I nternationa I)

8,860MW

Thermal

1,007 MW

Wind

880 MW

Hydro

14,381 MW

Total

443MW

Waste Heat Recovery /BFG

1 MW

Solar

3,760MW

Renewable capacity under construction

Distribution of installed capacity (Domestic & International)(%)

■ Thermal

■ Clean and Green

Transmission and Distribution

Solar

■ Wind

■ Waste Heat/BFG

■ Hydro

Customers in Distribution

4,383 Ckm

Transmission

906 Ckm

Transmission pipeline under construction

424 Ckm

L 1 (lowest) bidder

Transmission assets

i -- Ci) Distribution assets

C;) Generation assets

TATA POWER

... as well as a few Global locations

Georgia, Adiaristsgali

187 MW

Installed capacity

50%

TPCL stake

Zambia, ltezhi Tezhi (ITPC)

120Mw

50%

Installed capacity

TPCL stake

C';) Hydro

C';) Coal Mines

TATA

Bhutan, Dagachhu

126Mw

26%

Installed capacity

TPCL stake

Indonesia Coal Mines

Coal mines

Tata Power Share%

Kaltim Prima Coal (KPC)

Baramulti Suksessarana (BSSR)

Antang Gunung Meratus (AGM)

30%

26%

Tata Power Indonesian Coal Mines*

Operational Parameters

Production (MT)

-50.1

Sales (MT)

48.5

Financial Parameters

Revenue (USDm)

EBITDA (USDm)

*PAT (USDm)

6,791

1,669

1,140

371

150

110

BSSR

AGM

5.3

5.1

12.6

12.3

813

213

153

* FY23 operational and financial numbers on a 100% basis.

TATA POWER

Generating consistent value over the years ...

Revenue(~ in Cr)

30,446

H1FY24

FY23

FY22

FY21

FY20

56,033

Reported PATA(~ in Cr) 2,158

H1FY24

3,810

FY23

FY22

FY21

FY20

1,316

EBITDA (~ in Cr)

6,092*

H1FY24

FY23

FY22

FY21

FY20

ROE (0A>)

12.3

H1FY24

FY23

FY22

FY21

FY20

10,068

8,317

12.6

6.1

6.2

TATA

Underlying EBITDA(~ in Cr) 6,694**

H1FY24

FY23

FY22

FY21

FY20

EPS (~)AA

5.78

H1FY24

FY23

FY22

FY21

FY20

13,268

9,269

10.43

3.17

3.12

*Including other income I **Including Share of JV's and Associates I A Before Minority Interest IM Not Annualised

TATA POWER

... with rising contribution from our Core businesses* EBITDA (~ in Cr)

Revenue (~ in Cr)

Reported PAT (~ in Cr)

H1 FY23

H1 FY24

H1 FY23

H1 FY24

H1 FY23

H1 FY24

TATA

20/o c - -

9960

9,800

1s% C- -

4,235

3,693

4% C

17,980

18,731

1470/o D ~

2,107

1,721

1,513

853 - 14% D------" • ,,k 2a% D •

2,180

-220/oC

----,

1 748

1,370

426

683

309

-r- 300/o D •

526

(2694)

(2320)

(764)

(321)

Consolidated performance

* Coal, Overseas Hydro Assets, Stake in Tata Projects & Nelco considered as Non-core

s% C

30,446

28,939 -

47% C

6,092

4,150

19% El

2,158

1,819

TATA POWER

Operational excellence fueling benchmark results

Generation availability(%)

Plant load or capacity utilisation factor(%)

Thermal (excl. Mundra)

Mundra

MO Hydro

Wind

Solar

Thermal (excl. Mundra)

Mundra

MO Hydro

Wind

Solar

■ FY22

■ FY23

■ Hl FY24

G TATA

TATA POWER

The power sector is set to grow as India grows

TATA

Rising population and urbanisation to drive demand

Strong Correlation seen between GDP and Power Demand growth (%)

India has one of the lowest power consumption per capita (in units)

All India coal-based generation Plant Load Factor (PLF) (%)

1.40 1.43

28 ••

1.24

26 ••• •

23 ••• -- ··

1.06

.• ·

20 ... ••

18 • ••

0.87

0.70

0.56

0.45

0 \.0

°'

0 r--,...

°'

0 a:,

°'

°' °'

0 0 0 N

0 N

0 N 0 N

M N 0 N

1.60

1.40

1.20

1.00

0.80

0.60

0.40

0.20

0.00

■ Population (In Bn)

.. •

Urban population as% of total Population

Source: Worldometer

O'I

, • •• ••

~ °' • ,· . . . . \() • co ···=· ...

•••

Lit

• N "

r--.

r-.... \()

r--. \0

r--. \0 •• ••• \0 N"! I.I'\

00 \0

I.I'\ \0 ..... r-.... ••••• • •• (V)

•. ··-

-:·. , Lit

•

-: \.0

• : • • • • • • • •

• II• M

. . . . - .. . . .. . .. . ~ . . ~ . . ' . . . . • • IO -~ '9

' •

OOO ' IO~NMLULU ~ ~ N > -> -> -> -> -> -NN LL

r--.

,::t-

>- LL

LU 0 (V) > LL

•••••• Electricity Requirement Growth Rate

• • •• • • GDP Growth Rate

Source: CEA, RBI, IMF, S&P

India I 1,300 Brazil ■ 3,260 UK 1111 4,750

China

6,200

3,630

World average

Germany

6,660

France

7,500

Russia - 7,590

Japan us

7,760

Canada

Norway

25,940

85%

80%

75%

70%

65%

60%

55%

50%

• ••

•..

76°1. 70

.. • • • • •

. ... . . . , ,, .... •. . ... • • • ' . •• .. .. ,. . . . : :7201 •. : • f .. ~-· •• : . ,,.. ._,... . :-. : • • .. .. : .• e.• a 1P • • • __,. ~ .. . . . ·--· ·. -. ... ,, . ' . ~ . . . . ..,80/4. • •• ,. • •• • . - . - . -, - ·• ~ • •-0 • IJI . ,: . . .... . ... . .• . ..... ~ . .., •· : . . , ....

• , : $ • :

~ • • •ti•• ,,• • ~

066°1. 70

.. • !• •

. , · •

"..."

:•

. .

•

► ' - ► 0 r, '"Q r+ IV IV IV IV

C ::::l IV IV

C \0 IV IV

"Tl ► ' - ► 0 0 C 11) r, 11) ::::l r, r+ 0- IV IV IV IV IV w w w w w

C \0 IV

'"Q IV

Data represents per capita power consumption for CY22

··•·· All India ··•·· Central Sector

··•·· State Sector ··•

Private Sector

Source: ember-climate.org

Source: NPP

TATA POWER

Rising power demand has resulted in power deficit inching up, especially during non-solar hours

TATA

Peak demand in solar hours (GW)

Peak demand shortage in non solar hours (MW)

Peak demand (GW) and Peak power deficit (%)

Energy requirement (BUs) and Energy Deficit(%)

" M

M N N

'<:I"

I.I') 0 N

(j\ 0 N'<:I" 0 N

I.I')

N IO 0 00

" I.I')

May-23 Jun-23 Jul-23 Aug-23 Sep-23

~ 9.0 . . . . . . . . . . . . . . . . ..... . .

10.0

9.0

8.0

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

,. I

I :

366

400

10.0

~ 8.7 . . . . . . . . .

350

300

250

200

150

100

9.0

8.0

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

277

243

UJ UJ r-- N rn N >- >

LL LL

■ Peak demand

■ Solar hours

■ Peak demand shortage

■ Non-Solar hours

■ Peak demand (GW)

•·• ·· Peak deficit%

■ Energy requirement (BUs)

•··• ··· Energy Deficit (%)

Source: Avendus Spark research

Source: CEA, EPS

Source: CEA

983

1,600

1,400

1,200

1,000

800

600

400

200

•

'I, __ ___ _ . . :,; ,

I ,.

1•1• I

"' I •-11 ~\,, • '

' •

\ ~- ...

TATA POWER

TATA

Clean & Green Energy to lead the way as India targets S00GW RE capacity by 2030

Immense Potential compared to currently Installed capacity of 132 GW*

Clean & Green to account for 68% of capacity in 2032 from 43% in FY23

Clean & Green to account for 44% of Generation (TWh) in 2032 from 25% in FY23

749

356

370

382

400

416

900

1,372

1,383

1,373

1,484

1,618

2,441

302

210

Solar Ground Mounted

Wind

Solar Rooftop

Biomass

Small Hydro

■ Potential (GW) ■ Installed Capacity in GW (as on Oct 23)

Huge untapped Renewable resource potential in India

Solar

~302 GW

Wind

51.4

■

FY22

FY23

FY19

FY20

FY21

••••••

% of clean capacity

FY32

FY23

FY22

FY19

FY20

FY21

••••••

% of Generation from clean sources

FY32

RE ■ Solar ■ Wind ■ Hydro ■ Nuclear ■ Other non-fossil

Thermal

Source: MNRE

Source:- CEA, NEP

*Excludes large Hydro Capacity of 47GW

TATA POWER

TATA

Strong Pipeline: S00GW 2030 target implies ~45GW Capacity additions each year on an average

500 GW by 2030

Aspirational capacity addition target

179GW Installed by Oct, 2023

72GW Solar

44GW Wind

Solar

Wind

Storage

Biomass

Hydro

Small Hydro

11 GW Biomass

5 GW Small Hydro

47 GW Hydro Power

SOOGW

(179 GW)

of projects under implementation

224GW Auctioning needed until 2028* *to reach S00GW installed capacity by 2030

Renewable energy capacity target of 500 GW by 2030

500

400

300

200

100

500

r I g

,C c' ::::i er: I_'.) <( u

CAGR 9%W

'SI" >- LL

\!)

>- LL

00 >- LL

0 N >- LL

0 ~ 'SI" N >-LL

M >- LL

Source: Nuvama Research

~45GWp.a.

TATA POWER

RPO* to spur renewable adoption on the demand side

TATA

Electricity Amendment Bill -Mandating National RPO & compliance by SERC

_ /

RPOs to be increased from 25% in FY23 to 43% by FY30 by Centre

RPO components trajectory(%)

SERCs are required to enforce national RPO

Non-compliance to be penalised at ~0.25-0.35/ kWhr in 1st year & ~ 0.35-0.5 / kWhr in subsequent years

Potential increase in RPO, a stricter implementation to promote RE and open access

■ Solar (Inc. others) ■ Wind ■ Hydro

Source: Ministry Of Power (MoP)

FY23

FY24

FY25

FY26

FY27

FY28

FY29

FY30

*Renewable Purchase Obligation (RPO)

TATA POWER

TATA

Record-low module prices and attractive RE tariffs should boost RE capacity additions

Minimum e-reverse auction tariff in India

Renewable energy auction volumes (GW)

2.79 2.69 2.67 2 51 , . --c................... • • ........ ,, •• , ·•=:.... . .. •••••• : ............. : 2 S • • • •... 2.44 •

2•77 • 2 41 . . . . . . . . . . . ... . . . •

·····•·····

2.69

3.11 .. ..-,,• 3 07 • . ::,-,~· •.•· •••••••• 2.55

. ....

•• -::•·

2.53

.....

2.34 • •••• •. • • • • • • • • • • • • 2.35

°' ~ >

0 N

> LL

• ••••••• • 1.99

2.14

N N > LL

2 3 •

('(') N > LL

2.44

> LL

........... Solar

........... Wind

........... Hybrid

Source: CEA, Bloomberg, Avendus Spark Research

7.0

18.5

19.1

15.5

13.9

14.1

10.6

Polysilicon and module prices at multi-year lows

CTI

30 :.::: o 20 10

Vl :::>

•• • •

• •• • • •• • • • • •

•••••••••••••

• •• •• • ••••

:· ............ . . .. .

• ••••••••••

... . . ... .. ... . : ..... •• • • • • • •• • • •• •

• • •

••

0 N ...!. :::J -,

('(') N I C ~ -,

• ••• •• • • ••••••

. : ·.. . .. : : :.. . ..... . . . • : ....... .

!. $0.13/W

0.30 0.25 0.20 0.15 0.10 0.05 $8.51 /K,2 0.00 N I > 0 z

~ 0 Vl 2

2017

2018

2019

2020

2021

2022

2023*

•••••••

% Share of Complex Tenders

■ Solar ■ Wind ■ Complex

........... Polysilicon (L)

........... Mono crystalline solar module Price (R)

*As on Jul 2023

Source: Nuvama

Source: BNEF- India's Renewable Energy Auctions 2022 Roundup, BTI RE Navigator

TATA POWER

Clean & Green capacity target: >20GW by 2030, accounting for 70% of total

TATA

What we have achieved

>5.5 GW

Clean and green Capacity

>3.7 GW

Under construction

What we wish to achieve

>20Gw

(70% by 2030 and 100% before 2045) Clean and Green Capacity

Targeting 1 SGW+ Clean & Green Capacity by 2027 (GW)

~1 ___ _,g 20+

15+

5.5

Current

2027

2030

Source: Tata Power Estimates

Renewable capacity pipeline (MW) ,------------

1,151

Group Captive accounts for a third of RE Pipeline

1,149

1,460

As on 30 September, 2023

Solar Pipeline

Hybrid Pipeline

Total Renewable Pipeline

■ Large Utility

■ Group Captive

TATA POWER

TPSSL revenues to rise with declining contribution from third-party EPC

TATA

What we have achieved

4,391* MW

Order Book

fl 7,000Cr+ Revenue projected for FY27 with rising share from Captive projects (f '000 er.)

>fl 8,700* Cr

Order Book

10.6

What we wish to achieve

>f 20,000* Cr

Revenue in FY30

FY24*

2027

2030

*Includes large scale utility, residential, C&I as well as group captive As on 30 September, 2023

*Trailing 12-months

TATA POWER

TATA

Annual additions of Rooftop & Group Captive in India - Adding to RE growth story

Strong offtake across segments; 19% CAGR in residential and 20% for Group Captive till FY27

Demand drivers

Compelling economics

Rooftop* (MW)

4-yearCAGR

Group Captive (MW)

4-yearCAGR

Rooftop: Reduces electricity bills by u pto 80%+, payback period of 4-7 years

Group captive: Customer to invest ~8% of project Cost, payback in 2 years

Enabling regulatory ecosystem

3800MW

4496MW

Rooftop :

2394 MW

2530 MW

2640MW

2168MW

• •

Net Metering upto 500/ 1000 kW State administered subsidy programs for residential

Group captive •

15-20% of savings through exemption of regulatory charges State administered subsidy programs for residential

•

FY2023

FY2024[~

FY2027 [El

FY2023

FY2024 [El

FY2027 [El

■ Residential

■ C&I

■ Total

Enabling regulatory ecosystem •

Increase in Govt of India's RE commitment to 500 GW by 2030 Carbon neutrality/ 100% renewable electricity targets of corporates

•

Note: Market estimates as per Bridge To India research, Tata Power estimates

*Rooftop segment includes Commercial & Industrial (C&I)

TATA POWER

Tata Power Solar Rooftop: Differentiators to sustain Pole position

VARIED OFFERING •

Presence across all customer segments

FINANCING •

Multiple tie-ups offer several options to customers

•

EPC + Opex Models

Solutions from 1 kW to multiple MW, powering SK+ C&I, 43K+ residential customers

•

Innovative products such as Instant EMI; term loan, etc.

Collateral free, quick financing

TATA

TATA POWER

1 s ldbl

SOLARIZE YOUR BUSINESS a, LOWEST INTEREST RATES ! ExcluSfve for Tata Power customers

PRODUCT PORTFOLIO •

Value-added offerings: Bundling with roofing solutions,

CHANNEL & MARKETING •

490+ Channel Partners (CPs) as on date - covering 275+ towns

Channel partner network growth

•

Performance analytics

Innovative Premium products

•

~44% of FY23 revenue from CPs

Customer referral and social influencers

FY21

FY20

179

124

404 MW Rooftop capacity added in FY23 (%)

23 ■ C&I

■ Residential

f641 Cr order booked in H1 FY24 (%)

21 ■ Residential

■ C&I

• •

•

Bifacial modules on roof

Innovative products like hybrid, balcony, artefacts, solar tree

Digital tools, e.g., array modelling, shadow analysis, daily report

TATA POWER

Tata Power EZ Charge- Only CPO* in India to operate across four segments

Home Charging Brief-Tie-up with OEMs for home charging installations for their customers

Services-Installation & commissioning Service

Public Charging Brief-Dependence on the current EV penetration and current utilization of the EV users

Services-Deployment of EV chargers in Public & Semi-Public Locations

Fleet Charging Brief-Tie-up with fleet operators for either deployment of charging infrastructure or accessibility of public charging stations

Services-Deployment of EV chargers in dedicated hub for fleet cars

Bus Charging Brief-Tie-up with bus OEMs for deployment of charging infrastructure for their bus supplies/Govt. deals fore-bus chargers

Services- Deployment of EV chargers in STU depots for Buses

*Charge Point Operator

TATA

TATA POWER

Tata Power EZ charge- Stellar growth in home and public charging segments

TATA

Home charging installation

65,640

38,899

,---

FY20

2,718

- - - - - r - - - - - -~

- , - -

13,107

FY21

FY22

FY23

FY24 (till Oct'23)

•

Market leadership in public charging segment with ~55% share and ~85% share in home charger installations

Exponential growth in-line with increasing EV adoption over the last 2 years

Partnership with OEMs and fleet players leading to assured utilization and revenue

Source: Tata Power Estimates

Public charging stations

3,736

2,822

896

242

--,--

- r -

--.-

FY21

FY22

FY23

FY24 (till Oct'23)

r -

FY19

--,--

FY20

Source: Tata Power Estimates

TATA POWER

Tata Power EZ charge: Stellar growth in E-bus and fleet charging segments

TATA

E-bus Charging Stations

84 -

FY21

84 -FY22

FY19

FY20

Source: Tata Power Estimates

Fleet Charging (4W)

592

234

FY23

FY24(till Oct'23

713

446

FY19

FY20

FY21

FY22

FY23

FY24(till Oct'23

Source: Tata Power Estimates

•

Segment with assured utilisation and revenues/profitability

Over 100% growth in first 8 months of FY24 in bus segment and 60°/4 in fleet segment, healthy pipeline in execution

Huge E-bus charging opportunity through PM E-bus Sewa programme, to introduce 10,000 electric buses to the city bus service across India

Fleet opportunities in employee transportation services and mid & last mile delivery segment

TATA POWER

Tata Power EZ Charge: Targeting > 1 Ok Public and >200k Home chargers by FY28

Catering to every segment

Differentiated strategy for the 3 businesses

TATA

4,900+ Public, Semi public and Captive CPs

460+ Ultra high Capacity Bus Chargers energized in multiple cities

Energized more than 442+ cities & towns

·~

65,000+ Home Chargers installations

CO li~

Award winning Advanced Software Platform and Mobile Application

Home Charging (Private 4W)

Captive Charging (Shared 4W & Bus)

Public Charging (Private & Shared 4W)

•

Tata Power green strategy

Rationale

~85%+ of Home Charging market

Partnership with OEMs as preferred service provider

Enables customer acquisition from personal EV owners

•

~40% of Fleet 4W & Bus Charging market

Contracts with 4W fleets/Bus OEMs with minimum usage guarantee

Builds network presence & operating know-how with low risk

•

Growth outlook

>200,000 Home Chargers by FY28

~55% public charging market share

Post FY24, asset-light aggregator of franchisee operators

Enables capturing leading share of public charging & data

> 10,000 Charge Points (CPs) by FY28

Largest Player in the Country in Public Charging Space

Current presence in 442+ cities & towns Largest by any CPO

Partnerships

COIMBATORE CITY

• · MUNICIPAL CORPORATION

.......

lndlan Navy

TI\TI\IIOTORS

MAHANAGAR GAS

e lndianOil

TATA POWER

TATA

Contributing to India's Atmanirbhar ambition with our 4.3GW Cell & Module facility in Tamil Nadu

Estimated capacities expected to ramp-up by FY26 In India (GW)

Proposed addition of Module capacity by large manufacturers (> 1 GW) by 2026

Tata Power's first module out from 4.3 GW of Cell & Module

Reliance

Shirdi Sai Electricals

FY20 I.ii. 15

FY19

FY23

FY26E

110

Polysilicon production capacity

■ Ingot/Wafer production capacity

■ Cell production capacity

■ Module production capacity

ReNew

4.8

·------------------------------------------------------------------. l __ !~~~.!:~~~~?9!~~-----------------------~~~---------------------J

Grew Energy ----■ 4 Vikram Solar ----■ 3.8

Goldi

First Solar

Premier

Avaada

Waaree

Navitas

RenewSys

Solex

Rayzon

Jakson

Bharat Vikas Group

Jupiter Solar

3.5

3.4

2.5

2.4

Websol - - 1.8

Emmvee - - 1.8

Saatvik

Gautam Solar

■ Indian players

■

International players

Source: JMK Research

First Mo ·,on

At(

First Cell production scheduled in Q4FY24

Total Capex of around Rs. 4,000Cr

EEEE

TATA POWER

Indian transmission: A USD30 Bn opportunity (till FY30)

USD30 Bn transmission Capex anticipated between FY24-30E (USO Bn)

Pickup in transmission lines installation

Transmission lines (in Ckt km)

TATA

■ Renewables

■ Thermal

■ Distribution

■ Transmission

800

600

400

200

FY17

FY18

FY19

FY20

FY21

FY22

FY23

Hl FY24

■

Centre

■

State

■

Private

Source: CEA

Trans. Lines

Sub-station capacity

4.7 lakh Ckt. Km

50,890 Ckt. km.

11.8 lakh MVA

4.3 lakh MVA

•

As a significant step towards successfully achieving 500 GW of RE capacity by 2030, the Ministry of power has outlined a systematic planning of transmission system which envisages huge-inter transmission opportunities till 2030

Most of these projects will be bid through TBCB route, thereby, presenting a huge opportunity for the private players

Source: Jefferies

TBCB opportunity

As on FY23

Additional opportunity by 2030

Source: MOP, CEA

TATA POWER

Tata Power - Recent wins to expand Tata Power's transmission portfolio

TATA

What we have achieved

Declared L 1 * on 4th October 2023

Declared L 1 * on 7th November 2023

4,383 Ckm

Operational Capacity

906 Ckm

Under construction Total Capex: ~1,610 Cr

424 Ckm

Declared L 1 bidders Total Capex: ~2,294Cr

*Lowest bidder

Project: Jalpura Khurja Power Transmission Limited (80 Ckm)

Project: Rajasthan Phase IV Part C (344 Ckm)

Project Brief •

•

Construction and O&M of 400 kV substation at Greater Noida and Jalpura in Uttar Pradesh Line in line out (LILO) of 400 kV line at Greater Noida substation and construction of 400 kV line from Jalpura substation to Tehri Hydro development corporation (THDC) Khurja Thermal Power Plant (TPP)

Project Brief • •

Bikaner-11I- Neemrana-11 765 kV D/C line (2nd) 765 kV 110 MVAR switchable line reactor - 6 at Bikaner Ill PS 765 kV 110 MVAR switchable line reactor - 6 at Neemrana II S/S 765 kV line bays - 2 at Bikaner Ill PS 765 kV line bays - 2 at Neemrana II S/S

•

• •

Capex: ~750Cr

Capex: ~1,544 Cr

TATA POWER

India Distribution: On the mend but concerns remain

All India AT&C losses (%) have declined due to LPS and RDSS schemes

ACS -ARR gap has narrowed but continues to persist

Overall ACS-ARR GAP

All India basis

\0 \0 N

"1 l.(') N

~ l.(') N

r--. rri N

~ M N

\0 rsl N

"1 N

-.q

M rsl N

r--. ci N

'<I; \0

l.(')

rri

5.5

········ • ··········• · •••••••••• ...... ··•·· ••• • ••• ·•· ••

···•••••

6.2

6 • • ••••••••••• •••••••••• • ••••••::::I

6.3

········•········· 5.9

·••••

6.2

5.2

5.40%

5.10%

9.80%

8.90%

9.90%

7.20%

4.00%

- 2.00%

0.00%

2.10%

TATA

12.00%

10.00%

8.00%

6.00%

FY16

FY18 ■ *GAP% ···• ······ ACS (Vunit)

FY17

FY19 ······•····

FY20

FY21

FY22

* ARR (Vunit)

N >- LL

M >- LL

'<:I' >- LL

l.(')

>- LL

\0 >- LL

r--. >- LL

co >- LL

(j\

>- LL

0 N >- LL

N >- LL

N N >- LL

M N

>-LL

Source: PFC Report

■ AT&C (Agg regate Techn ical & Comme rcial) Losses(%)

*PFC Report

Abbreviations: LPS- Late payment surcharge RDSS - Revamped Distribution Sector Scheme ACS -Average cost of Supply ARR-Average Revenue Realised

•

Periodic and targeted measures taken by the Union govt helped DISCOMS improve their performance.

Implementation of Late Payment Surcharge Rules inculcated a discipline amongst DISCOMs to make timely payment to Genreating Co's, thereby reducing overdue amount

Increased smart metering implementation helped improve the billing efficiency

* After Tariff subsidy received

TATA POWER

TATA

India Distribution: Several states continue to display high AT&C losses and remain in financial stress

State-wise AT & C losses(%) for FY22

RDSS and LPS reduce DISCOM Dues(~ in Cr)

Arunachal Pradesh

Nagaland

Mizoram

Meghalaya

Jharkhand

Tripura

Bihar

Odisha

Sikkim

Uttar Pradesh

Manipur

Madhya Pradesh

Chhattisgarh

Rajasthan

Assam

West Bengal

Maharashtra

Uttarakhand

Haryana

Tamil Nadu

Chandigarh

Goa

Himachal Pradesh

Punjab

Karnataka

Puducherry

Telangana

Andhra Pradesh

Gujarat

Delhi

Kerala

Daman & Diu Dadra & Nagar Haveli

- -

4 4

31 31 31

: 17 : 17 : 17

1 s: 14 14

13 13 13 13

11 11 11 11

8 8

16.42%

1,05,330

1,02,780

83,716

FY20

FY21

FY22

25,016

32,854

■ ■

FY23

* FY24 YTD

59,127

FY19

*Till 24th November 23

Source: PRAAPTI portal

Financial performance of DISCOMs

Parameters Total Losses (on accrual basis) Debt Regulatory assets Accumulated losses

Source: PFC report

Unit

~ Cr

~ Lakh Cr ~ Cr ~ Lakh Cr

FY20

30,752

5.0 65,414 5.05

FY22

31,026

6.2 75,178 5.52

While green shoots are visible in power distribution sector, major concerns remain

Key challenges for State DISCOMs

Source: MOP

Increased power purchase cost

Shift of subsidizing C&I customers to options of OA/GC/RTS

Limitation on taking RE benefits

TATA POWER

TATA

Private DISCOMs in a better shape; Tata Power has 50% share in Private DISCOMs

AT&C losses (State vs Private)(%)

ARR-ACS GAP (State vs Private) (~/unit)

····•••••••••••

20.7

q M N

'Sf; 0

I I \0

FY17

FY18

FY19

FY 20

FY 21

~ > LL

■ State ■ Private

···•···

All India

■ State ■ Private

M ci

N ci

■

M ci

■ N ci

00 ci

°' ~ > LL

\0 ci

0 N

> LL

00 ci

> LL

N N

> LL

Market share of State vs Private players (Revenue basis)(%)

Our position among private players (%)

FY18

FY19

FY20

FY21

FY22

FY18

FY19

FY20

FY21

■ State

■ Private

Source: MOP, PFC

■ Tata Power ■ Other private players

FY22

TATA POWER

TPDDL: Solid turnaround for the past two decades

TATA

...... ...... 40.9

47•6 45.4

48.1 47.8

......

44_g.

• 35.4 • ... •• .... 31.1

··.

. ...

33.8 •••

• •• 22

• ••• •• • 23.7 •••••• • • • • •...

20.4 18 7

•• -···

All India average : 16.4% (FY21-22) 20 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ :•• •• • •• ■ A, ••• ,•• a.: ■■■■ •• ■ .,;.,,.]■ J .1. ~. ■ 1' l ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ • 8.8 8.7 8.5 8.4 8.3 8.1 ...•.. ,.,,,.,,,,.,: .•...•.. ·1

• • • • • •. • . . • 152142

153 14.5 13 6

18.6 16 7

• 17

265

• •

• • ... • • • ••• •.. ···•···•···•··· .. ·•·· 11.5 10.7 10.6 10.4 9.4 9.1 8.3

• ... • • • • • •

,;:j- 0 >-

I.I) 0 >-

\0 0 >-

I'-... 0 >-

co 0 >-

0\ 0 >-

0 ..... >-

..... ..... >-

..... N >-

..... M >-

,;:j- ..... >-

1/'1 M 1/'1 0 0 >- ....J O"> C C (I) Q. 0

··•·· DERC Target • • •· • Achieved

I.I)

..... >-

..... \0 >-

..... I'-... >-

co ..... >-

7.8 7.89 6.44 6.8 6.36 ..... N >-

..... 0\ >-

0 N >-

N N >-

M N

>-LL

TPDDL turnaround in Numbers

fS0,000 Cr

Estimated saving to the Government (since takeover in FY02)

f7,600 Cr

Cumulative Capex till FY23

f801 Cr

Dividend paid to the Government

*Loss level of 6.44% in FY21 due to additional collection pertaining to FY20 (Covid period), corrected AT&C is 7.26

Tata Power Delhi Distribution Limited (TPDDL) acquired by Tata Power in FY02

TATA POWER

Odisha DISCOMs: Significant improvement in AT&C losses in a short span of time

Tata Power Central Odisha Distribution Ltd. (TPCODL)

Tata Power Western Odisha Distribution Ltd. (TPWODL)

213.7

23.7 . . . . . . ... ·1 ·............

23.7

22.0

20.0 ••••• .....

18.0

·············

. ·•······•

15 0

16.0

21ii6

3~ 2

2~ 4

30 25 20 15 10 5 0

28.6 -

20.4

I I 20.4

- -

26.97 -

27.65

FY22

FY23

18.9

·····•······

17.4 •····· · • ·····.

15.9

145 . 11 5 •······• • ······•······•··

13.0

100 •

... ·•· .... ·•

95 •

FY20

FY21

FY22

FY23

FY24

FY25

FY26

FY27

FY28

FY20

FY21

FY24

FY25

FY26

FY27

FY28

FY29

FY30

FY31

Tata Power Northern Odisha Distribution Ltd. (TPNODL)

Tata Power Southern Odisha Distribution Ltd. (TPSODL)

24.3

•••••

....

22 3 • •••••• •

20.8

17.8

• • • •.

••••••

15.5 ••••

12.5

••••••

. . . . . . . . . . . . .

11 5 •

10.5

9.5

•· ............. . . 8 9

25.3 -FY21

23.13

11.36 - -

FY23

FY22

30.0

25.0

20.0

15.0

10.0

5.0

0.0

36.3

FY20

I - -

FY23

22.80

FY22

30.02

- 32.51

FY21

25.8

25.0 ••• • ·• • ••• • ·•· • ••• • •· •••• ·•··

25.8

25.4

22.6

. . . . . . . . . . . . . 18.4

.. ···•

20.4

16.6

••••••• ... ···•

15 0 •

FY24

FY25

FY26

FY27

FY28

FY29

FY30

FY31

FY24

FY25

FY26

FY27

FY28

FY29

FY30

FY31

....... Tariff determination trajectory for AT&C losses

■ AT&C Actual

Source: OERC, Tata Power

TPCODL acquired in June'20 TPWODL acquired in Jan'21 TPNODL acquired in Apr'21 TPSODL acquired in Jan'21

TATA

30 25 20 15 10 5 0

35 30 25 20 15 10 5 0

TATA POWER

Levers of Odisha Turnaround Story

Improving Reliability & Quality of Power Predictive Analysis

Enhancing Safety Culture Drone surveillance for overhead network monitoring

Technology deployment Innovative Tech - Trolley mounted Sub-station, Automatic Voltage Regulator Transformer, etc

Consumer Centricity 24 x 7 call centre services

PPEs to Employees

Advanced Distribution Management System

Multiple digital payment avenues

Reliability improvement measures like DTR augmentation, Network strengthening, installing auto reclosure & sectionalizers on feeders

TATA

Commercial focus Arrear Collections (~ in Cr)

411 1251 1310 1576

Theft Load

(MW)

268 I 168 I 2091 246

Sub-stations automated

Safety Audits & Practice Yards

206 I 1 1 5 I 148 I 115

Capex to upgrade systems (~ in Cr) 798 I 546 I 668 I 635

VR based safety trainings, Workmen family Behavioral based safety awareness program

Al based OCR meter reading, Drone technology for Bluetooth enabled meters.

TAT Matrix for redressal

Energy Audit & GIS Indexing of network & consumers

Smart Meter installation (thousands)

New Connections (MW)

I 56

I 85

1063 1519 I 1362 I 816

Mobile App & M-Pos integrated revenue collection app

Central PSCC

Contractor Safety Mgt

ERP, Billing & CRM

Rural PDS linked Anubhav Kendras

■ TPCODL

■ TPSODL ■ TPWODL ■

TPNODL

I I

TATA POWER

97GW of Pumped Hydro {PSP) potential in India with c40GW in Western India

Region-wise distribution of PSP potential and current PSP installed capacity (MW) in India

Current status of pumped storage hydro plants in India

TATA

No of projects

Installed capacity (MW)

"'" 00 '° 0\

0 I.I'\

r--.. r-.:

N 0\

1~ I.I'\

Western

Southern

Eastern

Regions

0 °' '-0

North Eastern

I.I'\

'° 0

IV)

QJ ~ 0 a..

.... lo

Northern

■ Potential Capacity

■ Current Installed Capacity

Source: CEA

Status

In Operation

Working in Pumping Mode Not working in Pumping Mode

Under Construction Under Active Construction

On which Construction is held up DPR concurred by CEA

Under Examination Under S&I (Survey & Inspection)

Under S&I Held Up Grand Total

Source: CEA

6 2

3 1 1 1 33 5 52

Share of Hybrid in RE auctions has been rising (%)

YTD FY24

FY23

FY22

FY21

FY20

FY19

_______ 6_6 _______ 10

21 - -- 10 17

- - - - - - - - -83 ___ ______ 7

5 5

■ Solar

■ Wind

■ Hybrid

Hybrid (with storage)

Floating Solar

Source: Elekore, HSBC

3,305 1,440

2,700 80 1,000 1,350 42,150 5,320 57,345

TATA

TATA POWER

Why Pumped Storage Hydro plants?

Pumped Storage Hydro - Concept

When demand increases, or wind/solar production drops, .,,. _____________ ---, water runs downhill from upper reservoir

More stable, less variable supply results from adding electricity from turbine to original renewable power

Station

- -------1~

Turbine/Pump

Water runs through turbine, generating electricity Back

Benefits of PSP

Green Storage

Flexible and Reliable

High Economic Value

Useful life > 80 Years

Black Start Capability

... ...

Renewable energy such as wind or solar used to pump water uphill during times of low demand

As on 30 September, 2023

TATA POWER

1,000 MW Bhivpuri PSP (Brownfield Project) - Key highlights

TATA

1,000Mw

Bhivpuri PSP

Type Existing Off-stream

Upper Reservoir Thokarwadi - 352 MCM (million cubic meters)

Lower Reservoir New-5 MCM

Daily Generation 6,000 MWhr

Capital Investment ~4,700 Crores

Timeline: Start by Mid-2024 Completion- End 2027

TATA POWER

1,800 MW Shirawta PSP {Brownfield Project) - Key highlights

TATA

1,800Mw

Shirawta PSP

Type Off-stream

Upper Reservoir New-15 MCM

Lower Reservoir Existing Shirawta Dam 197 MCM

Daily Generation 10,800 MWhr

Capital Investment ~7,850 Crores

Timeline: Start by Mid-2024 Completion by 2028

TATA POWER

Our Pumped Storage {PSP) projects: Current Status

TATA

FSR submitted to CEA for approval. Project layout approved by CEA for survey & investigation (S&I}. Investigation in progress.

Connectivity application made to CTU; First consultation meeting held

Terms of Reference approved by MoEFCC

Order placed for pre order engineering

Detailed Project Report (DPR} preparation in progress : Target January 2024

TATA POWER

Domestic hydro capacity to rise by 7x+ post commissioning of PSP Projects

TATA

Hydro overview: Plant capacity addition (MW)

3500

3000

2500

2000

1500

1000

500

Shivpuri Units Upgraded to 12 MW

Khopoli 5*8MW Units

Shivpuri 6*8MW Units

Shira 5*18 MW Units

Khopoli 1*8MW Units

Shira 1*22 MW Units

Shira Set#2 upgraded to 22 MW

Shira Set#l upgraded to 25 MW

Khopoli Units Upgraded to 12 MW

3247 r

Shirwata 1800MW Units

. . . . . . . . . . . . . . . . . . . . . . . . . . . 144~ . . . . . . . . . . . . . . . . . . . . 447.··

Shira 150 MW PSU

Shivpuri 2*1.5 MW Units

Shivpuri 1000 MW

1.1"1

..... ..... 0\

N N ..... 0\

178

186

208

228

276

, 294

I'-. N ..... 0\

N CV) ..... 0\

N 1.1"1 ..... 0\

'° 1.1"1 ..... 0\

0 '° ..... 0\

0 I'-. ..... 0\

I'-. 0\ ..... 0\

I'-. N 0 N

00 N 0 N

TATA POWER

Additional potential of 9GW in the future should help support RTC of ~30GW

G TATA

573 MCM Mulshi dam,

72 MCM Walwhan dam, Raigad,

353 MCM Thokarwadi dam, Bhivpuri

3,000Mw, Nenavali, Mulshi dam Upper Reservoir

3,000Mw, Kataldhara, Walwhan dam Upper Reservoir

3,000Mw, Poltalpali, Thokarwadi dam Upper Reservoir

Other Reservoir Sites of Tata Power

6 MCM Kundali dam, Khopoli

12 MCM Lonavala dam, Khopoli

• • • -

TATA POWER

Tata power to deploy 45% of its capital to renewable sector

TATA

Estimated capex of around f60,000 Cr till FY27

45% of the capex to be spent on renewables between FY24-27e

f19,000- 20,000Cr

f21,000- 22,000Cr

f22,000- 23,000Cr

f14,000- 15000Cr

■ Conventional Generation Pumped hydro

■ Renewable

■ T&D

■ Transmission Growth*

Distribution Growth *

■ Other

■ Conventional Generation,

Coal & Shipping ■ Pumped Hydro

■ Renewable

■ T&D

■ Optional growth in T&D

■ Other

1 5

FY24

FY25

FY26

FY27

Source: Tata Power Estimates

*Optional Capex of ~12,000 Cr subject to TBCB wins in transmission and DISCOM circles

TATA POWER

Confident about growing profits with rising share from core businesses

TATA

FY23

Revenue

f56,033 Cr 0

EBITDA

f10,068 Cr 0

PAT (before Minority)

f3,810 Cr

FY27E

Share of EBITDA (%)

FY23 ■ Renewables

■ Conventional Generation, Coal & Shipping ■ T&D

*FY27E

■ Other

* EBITDA contribution from PSP shall start from FY28

Share of PAT (0A>)

FY23

FY27E

■ Core business ■ Non-core business *

* Coal, Overseas Hydro Assets, Stake in Tata Projects & Nelco

TATA POWER

Our sustainability aspirations

...

Become carbon net zero before 2045

Become water neutral before 2030

Zero waste to landfill before 2030

No Net Loss to Biodiversity

Education - Train 35 lakh+ youth as conservation and STEM education champions by 2028

Employability and Employment - 20 lakh+ youth trained and made employable by 2028

Entrepreneurship - Enable 1 lakh+ community collectives (Self Help Groups) by 2028

Improve overall gender diversity ratio to 20% by 2028

Improve Sustainability Disclosures and get listed in DJSI Emerging Markets list by 2027

Inclusion in S&P Global Emerging Market List by 2027

TATA

Leverage technology to create the 'Utility of the Future' (IOT, Smart Grids, BESS, Green H2, robotic panel cleaning etc.)

As on 30 September, 2023

TATA POWER

Taking leaps towards our ESG goals

TATA

Particulars

Description

1 - - - - - - - - - - - -1 - - - - - - l - - - - - -~ - - - - i On going actions

Baseline

Target

Value (FV23)

Vear

Value

Vear

Clean & Green Portfolio

70%

2030

Net Zero (Absolute Carbon Emissions)

38.9 Million Tonnes

2023

100%

2045

Environment

Water Neutral (Fresh Water Consumption)

69.7 Billion litres

2023

100%

2030

Zero Waste to Landfill

5.96 Million Tonnes

Total Non HW Waste (including Ash)

5.8 Million Tonnes

2023

100%

2030

Education

1.6 Million beneficiaries

2023

3.5 Million

2028

Employability & Employment

39,156 beneficiaries

2023

2.0 Million

2028

Social

Entrepreneurship

26,170 beneficiaries

2023

100,000

2028

Gender Diversity (%)

2023

20%

2028

Governance

DJSI Emerging Markets List (Absolute Score)

67/100

2023

80/100

2027

•

• • • •

• • •

•

• • •

•

38% RE portfolio as of June 2023

SBTi Commitment Renewable Portfolio Growth Thermal plant phase-out plan Annual plantation of more than 1 million saplings

3% Fresh Water reduction 17% Rain Water Harvesting 80% by offsets

Waste utilisation of Ash

Waste Management Plan for biodegradable waste, plastic, and e-waste

CSR initiatives made a positive impact on 3.7 million lives across 17 Indian states during FY23 ~ 50 Cr CSR spend in FY23

Women employees across roles 59% - Campus hires Policies supporting women in all life stages and mentorship program

ESG Action Plan and Gap Analysis

*Base Year 2015 for Clean & Green Portfolio in alignment with Paris Agreement

TATA POWER

Gradually improving our ESG ratings

2023

2022

2021

2020

2019

2018

~CDP

DISCLOSURE INSIGHT ACTION

CDP - Climate Change

~CDP

DISCLOSURE INSIGHT ACTION

CDP-Water

Dow Jones Sustainability Indexes DJSI

MSCl 8

MSCI

0 B

0 67

0 BBB

BBB

SUSTAINALYTICS O 40_9

41.2

38.6

Sustainalytics

As on 30 September, 2023

G TATA

TATA POWER

Achieving 100% clean power generation by FY 2045

2015 Largely a coal-based company, having capacities to fulfil the energy demands of a developing India

2023 Transitioning towards a clean and green portfolio through renewable energy capacity expansion

2030 Clean & Green Capacity will account for 70% of our overall capacity in 2030

2045 Phasing out thermal portfolio before 2045 as Power Purchase Agreements (PPA's) for our thermal capacity expires

■ Clean & Green (%)

Thermal(%)

TATA

TATA POWER

Empowering Communities

TATA

3.7 Mn

Touching lives

85+

Districts in 17 states

*'Tata Power has taken a major leap in the CSR ranking by securing a spot in top 10 as against its 57th rank in the last year

Public Private Partnerships (Collaboration & Leverage)

Improving access & creating opportunities

Far Reaching Impact on Community and Co ownership

Optimal Utilization of Resources (Premises)

Green Jobs

Technology Enablement

Institutionalisation & Standardization

Tree Mittra leveraged for social afforestation

• 3t--t'l @ ) 1 R!! MlffRA mHAAGA

r ... ,a .... ,;,., w....,Hfolti

··source: https:/ /www .futu rescape.i n/responsible-busi ness ranki ngs/ I https://thecsrjournal.in/top-100-companies-india csr-sustainability-2021 /

As on 30 September, 2023

TATA POWER

Well-established governance framework

TATA

Our CSR and Sustainability Committee at the Board level guides the strategy, and the Apex Leadership Team enables its impactful implementation

Leadership and Oversight on Sustainability

- - - - - - - - - - - Advocacy - - -

CSR & Sustainability Board Committee

>. O'I 0 0 C ~ u .... ~ (I/ z

(I/

Sustainability SPOCS

Thermal, T&D, Hydros, Renewables, HR, CSR, Ethics, IA&RM, Environment, etc.

Leadership with care

Care for our environment (society at large) • • •

Environment conservation Efficient use of energy Investment in green technology

Initiatives that are based on, and are encompassing

What needs to be done (material to both, for stakeholders and us)

Care for our shareholders and customers

What we are good at doing and is linked to our business objectives

Care for our community

What we should take up as national thrust areas for development

Care for our people

Going beyond compliance

What we should define as our standards, from compliance, to competing, to leading

Vl E .... Vl (I/

>. V') "'Cl C ~ Vl ~ :::l

.... u .... .... V') :::l

~ C 0 ·.;:::; .... :::l .:; Vl C

TATA

TATA POWER

Robust Governance Structure in place

Audit Committee

Nomination and Remuneration Committee

Shareholders

Board of _ Directors -- - - - - - - - -1

Stakeholders Relationship Committee

Related Party Transactions Policy, Framework & Guidelines

Code of Conduct for Independent Directors

Code of Conduct for Non-Executive Directors

Tata Code of Conduct

Governance policies • • • • • • • • •

CSR Policy

process

Whistle Blower Policy & Vigil Mechanism

Risk Management Policy - ISO certified

Tata Code of Conduct for Insider Trading and Corporate

CSR & Sustainability Committee

Risk Management Committee

• • • • • •

Disclosure Policy

Dividend Policy

Policy for Determining Material Subsidiaries

Policy for determining Materiality for Disclosures

Remuneration Policy for Directors, Key

Managerial Personnel and Other Employees

Charters of various Board appointed Committees

... and others

As on 30 September, 2023

•

• •

•

TATA POWER

Most vertically integrated and diversified power portfolio in India

TATA

T t p

r C m n L"

a a owe O pa Y •m e

it d (TPCL} H 1 fy 24

Revenue ({ in Cr) 30,446

EBITDA {{ in Cr) 6,092

Net Debt {{ in Cr) 36,609

PAT*** {{ in Cr) 2, 158

Thermal generation, coal & hydro renewables

RenewablesA

Transmission & distribution

Revenue {{ in Cr) 9,800

EBITDA {{ in Cr) 2,107

PAT ({ in Cr) 1,370

Revenue {{ in Cr) 4,235

EBITDA {{ in Cr) 1,721

PAT ({ in Cr) 426

Revenue {{ in Cr) 18,731

EBITDA {{ in Cr) 2,180

PAT ({ in Cr) 683

Eliminations/ Others (Incl. corporate taxes, expenses and interest) Revenue {{ in Cr) (2320)

EBITDA {{ in Cr) 84

PAT {{ in Cr) (321)

lllllilm

Mundra Trombay Maithon (MPL) Prayagraj (PPGCL)* Jojobera Haldia IEL Rithala PTCKP

lll·IHH■H111

4,150 MW 930MW 1,050 MW l,980MW 428MW 120MW 483MW 108MW S4MW

Coal Coal/Gas Coal Coal Coal Coal Coal/WHRS Gas Coal

IIUU

100% 100% 74% 20% 100% 100% 74% 51% 30%

RENEWABLES

Solar Powe r Wind Energy

UNDER CONSTRUCTION

Solar Power Hybrid

EV CHARGING

Public Home E-Bus

CAPACITY

3, 191 MW 1,007MW

CAPACITY

l.460MWM 2,300 MW

CAPACITY

4,932 61,959 464

DISTRIBUTION LICENSE

CUSTOMERS

STAKE

Mumbai Tata Power Delhi (TPDDL) Odisha

0.76Mn 2.00 Mn 10.06 Mn

100% 51% 51%

DISTRIBUTION FRANCHISE CUSTOMERS

STAKE

Ajmer (TPADL)

0.16Mn

100%

POWER TRADING COMPANY

TPTCL

STAKE

100%

ENTITY

Tata Projects Nelco Corporate

BUSINESS MODEL EPC Communication

STAKE

31% 50%

INDDNESIA COAL MINES, SHIPPING & INFRA

TATA POWER SOLAR SYSTEMS LIMITED (TPSSL)

TRANSMISSION

CIRCUIT KM

STAKE

MINE

Kaltim Prima (KPC)

BSSR &AGM NTP (Coal Infra)

TERPL (Coal Shipping/"

HYDRO

Bhira Bhivpuri Khopoli Dagachhu ltezhi Tezhi Adjaristsqali

CAPACITY

STAKE

60MT 18MT

30% 26% 30% 100%

CAPACITY

STAKE

300MW 7SMW 72MW 126MW 120MW 187MW

100% 100% 100% 26% SO% SO%

PARTICULARS

Utility Scale Solar EPC Rooftop EPC Cell & Module Capacity

TP SOLAR: UNDER CONSTRUCTION

Cell& Module

CAPACITY/ ORDER BOOK <'15,870 Cr <2,872Cr 530&682 MW

CAPACITY

4,300 MW (each)

Mumbai Powerlinks SEUPPTCL NRSS XXXVI UNDER CONSTRUCTION SEUPPTCL NRSS XXXVI

1,264 2,328 789 1.5

754 151.5

100% 51% 26% 26%

26% 26%

• Resurgent owns 75% in Prayagraj I "TERPL is a wholly owned subsidiary ofTata Power International Pte Ltd., which is wholly owned by Tata Power. I "'Reported PAT before Minority Interest after exceptional itemsl A Tata Power currently owns 93.94% stake in Renewables (TPREL). CCPS has been issued which will result in further dilution of 5.37% equity stake in TPREL I MlS MW is for IEL

JVs and Associates

Standalone Divisions

Subsidiary

As on 30 September, 2023

TATA POWER

Well-capitalised with one of the strongest Balance Sheets

TATA

Net Debt(~ in Cr)

FY19

FY20

FY21

FY22

FY23

Relatively smaller rise in Cost of Debt (CoD) compared to rise in Repo rate (%)

44,811

43,559

39,708

35,328

9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00

•······· • T . ~ 399 bps

•··•··••··•·

••••••••• . . •••••••••••••• . .

. ·•· ............. . ..

••••••••••••• 147bps

•·····

········•·············•·

•••••

2019-20

2020-21

2021-22

2022-23

YTD Sept 23

....... Avg COD

•

Repo

Balance Sheet continues to strengthen

FY18

FY19

FY20

FY21

FY22

FY23

Q2FY24*

••

•

Credit rating continues to improve

Credit Rating*

(Consolidated) -

CRISIL

ICRA

India Ratings CARE

S&P Global

Moody's

AA- /Positive AA- /Stable AA /Stable AA /Stable

2020-21

2021-22

2022-23

AA/Stable

AA /Stable AA /Positive

AA- /Positive

AA/Stable AA/Stable

B+ /Positive Ba3 /Stable

AA/Stable AA/Stable

BB /Stable Ba2 /Stable

AA /Stable AA /Stable

■ Net Debt to Equity ■ Net Debt to Underlying EBITDA

*Trailing twelve months

*Credit Upgrades indicated by deepening shades of blue

TATA POWER

Well poised to achieve our aspirations

TATA

PSP Projects to add 2.8GW to our Clean and Green Energy Portfolio

Double Revenues, EBITDA and profitability by FY27 with rising contribution from our Core Businesses - Generation, Renewable, Transmission and Distribution, in India

Clean & Green portfolio to reach 700/oofthe generation capacity by 2030

Expand distribution footprint to 40 million customers by 2027; and grow transmission business through TBCB & M&A in transmission

Lead industry in transition to carbon neutrality by 2045, 100% water neutral and 100% zero waste to landfill-biodegradable waste by 2027

As on 30 September, 2023

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