Adani Enterprises Limited

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30th January, 2025 BSE Limited P J Towers, Dalal Street, Mumbai – 400001. National Stock Exchange of India Limited Exchange plaza, Bandra-

29%

Media Release Adani Enterprises Ltd announces 9M FY25 results Consolidated EBITDA increased by 29% to Rs. 12,377 cr Consolidated PBT increased by 21% to Rs. 5,220 cr Incubating Businesses EBITDA

Rs. 12,377

Release Adani Enterprises Ltd announces 9M FY25 results Consolidated EBITDA increased by 29% to Rs. 12,377 cr Consolidated PBT increased by 21% to Rs. 5,220 cr Incubating Businesses EBITDA up by 77% to R

21%

Y25 results Consolidated EBITDA increased by 29% to Rs. 12,377 cr Consolidated PBT increased by 21% to Rs. 5,220 cr Incubating Businesses EBITDA up by 77% to Rs. 7,674 cr Consolidated financial h

Rs. 5,220

ults Consolidated EBITDA increased by 29% to Rs. 12,377 cr Consolidated PBT increased by 21% to Rs. 5,220 cr Incubating Businesses EBITDA up by 77% to Rs. 7,674 cr Consolidated financial highlights 9M F

77%

12,377 cr Consolidated PBT increased by 21% to Rs. 5,220 cr Incubating Businesses EBITDA up by 77% to Rs. 7,674 cr Consolidated financial highlights 9M FY25 (YoY) Synopsis • Revenue increased

Rs. 7,674

cr Consolidated PBT increased by 21% to Rs. 5,220 cr Incubating Businesses EBITDA up by 77% to Rs. 7,674 cr Consolidated financial highlights 9M FY25 (YoY) Synopsis • Revenue increased by 6% to Rs. 7

6%

Rs. 7,674 cr Consolidated financial highlights 9M FY25 (YoY) Synopsis • Revenue increased by 6% to Rs. 72,763 cr • EBITDA increased by 29% to Rs. 12,377 cr driven by continued strong operational

Rs. 72,763

,674 cr Consolidated financial highlights 9M FY25 (YoY) Synopsis • Revenue increased by 6% to Rs. 72,763 cr • EBITDA increased by 29% to Rs. 12,377 cr driven by continued strong operational performance by

9.6 MW

t and now a step closer to become operational • Phase I of Hyderabad Data Center with capacity of 9.6 MW fully operational • ANIL wind business has now four models listed in RLMM with the listing of 3.3 M

3.3 MW

.6 MW fully operational • ANIL wind business has now four models listed in RLMM with the listing of 3.3 MW WTG model in current quarter • AEL has demonstrated exceptional performance in the S&P Global Cor

Rs. 12,377 crore

ne-months ended December 31, 2024, AEL has recorded its highest consolidated nine-months EBITDA of Rs. 12,377 crore with contribution of 62% from incubating businesses. "This exceptional nine-month performance un

“With each milestone, AEL reaffirms its commitment to creating long-term value for its stakeholders while contributing to India's progress and global competitiveness." Consolidated Financial Highlights Particulars Total Income EBITDA Profit Before Tax Profit After Tax1 Cash Accruals2 Q3 FY24 25,540 3,716 2,360 1,888 2,679 Q3 FY25 23,501 3,723 576# 58 1,102 % change Y-o-Y (8%) - (75%) (97%) (59%) (Rs.”

“in Crore) 9M FY24 68,651 9,591 4,319 2,790 5,414 9M FY25 72,763 12,377 5,220 3,254 6,779 % change Y-o-Y 6% 29% 21% 17% 25% Note: 1.”

“(additional company is being proposed) O&M: Operations & Maintenance l HVDC: High voltage direct current l PSU: Public Sector Undertaking (Public Banks in India) l GMTN: Global Medium-Term Notes l SLB: Sustainability Linked Bonds l AEML: Adani Electricity Mumbai Ltd.”

“• • Cumulative post-tax equity of ~USD 1.6 bn available for investments on core infrastructure businesses USD 1.6 bn cash to be base equity USD 8.2 bn Capex investments will be enabled (at D/E - 80:20) USD 1.3 bn Run Rate EBITDA p.a.”

“9M FY25 as compared to 9M FY24 ; Intensity2: Per million Pax ; Intensity3: Per ton of mineral (coal + iron ore) produced ; RE: Renewable Energy 34 Appendix Energy & Utility Project Updates AEL : Energy & Utility – Water Project Model HAM Project / Location State Capacity SPV and Salient Features Prayagraj Water Pvt Ltd Uttar Pradesh Bhagalpur WasteWater Ltd Bihar 326 MLD 45 MLD • Project Status > COD Achieved • Project Status > ~85.47% Concession Period (In Yrs) (Const.”

“• Project Suposhan undertaken by Adani Wilmar is successfully continuing its operation.”

“✓ Development of ESG related policies, and procedures ✓ Support AEL BUs for developing transition plan to become operational net zero ✓ Capacity Building on ESG for businesses including training ✓ Submit response to key ESG rating agencies such as DJSI and CDP and develop ESG & BRSR Report.”

“✓ ESG target setting and monitoring performance Roles & Responsibilities of BU ESG Team ✓ Create business-level ESG strategy, implementation and monitoring plan.”

Registered Office

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For more information please contact

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Cash Inflows and Impact on AEL Investment Plans

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For Further info please contact

1

Registered Office

“Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S.G. Highway, Khodiyar, Ahmedabad 382 421, Phone : 079-26565555 ; Fax : 079-26565500 ; Email : info@adani.com ; Website : www.adanienterprises.com operational excellence, innovation and sustainability as we continue to set new benchmarks across sectors. With each milestone, AEL reaffirms its commitment to creating long-term value for its stakeholders while contributing to India's progress and global competitiveness." Consolidated Financial Highlights Particulars Total Income EBITDA Profit Before Tax Profit After Tax1 Cash Accruals2 Q3 FY24 25,540 3,716 2,360 1,888 2,679 Q3 FY25 23,501 3,723 576# 58 1,102 % change Y-o-Y (8%) - (75%) (97%) (59%) (Rs. in Crore) 9M FY24 68,651 9,591 4,319 2,790 5,414 9M FY25 72,763 12,377 5,220 3,254 6,779 % change Y-o-Y 6% 29% 21% 17% 25% Note: 1. PAT attributable to owners 2. Cash Accruals is equal to Profit Before Tax + Depreciation – Current Taxes # Q3-25 results include impact of high noti

Registered Office

“Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S.G. Highway, Khodiyar, Ahmedabad 382 421, Phone : 079-26565555 ; Fax : 079-26565500 ; Email : info@adani.com ; Website : www.adanienterprises.com Business Updates Adani New Industries (ANIL - Green Hydrogen Ecosystem) Solar manufacturing • Module sales records ~3.3 GW during nine months on back of export growth of 20% • and domestic sale increase of 176% EBITDA margins continue to rise on account of improved realization and operational efficiency through integrated production of cell and module line Wind Turbine manufacturing • 3.3 MW WTG model got listed in RLMM, taking ANIL Wind business offerings to four listed WTG models • 400th Blade production milestone crossed during this quarter AdaniConnex Pvt Ltd (ACX - Data Center) Hyderabad Data Center • The Phase I of Hyderabad Data Center is operational with capacity of 9.6 MW Noida Data Center • Construction completion ~99% of 50MW core & shell and 10 MW MEP • Pre-constructi

Registered Office

“Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S.G. Highway, Khodiyar, Ahmedabad 382 421, Phone : 079-26565555 ; Fax : 079-26565500 ; Email : info@adani.com ; Website : www.adanienterprises.com About Adani Enterprises Ltd Adani Enterprises Limited (AEL) is the flagship Company of Adani Group, one of India’s largest business organisations. Over the years, AEL has focused on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed entities. Having successfully built sizeable and scalable businesses like Adani Ports & SEZ, Adani Energy Solutions, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar, the Company has contributed to make India self-reliant with its robust businesses. This has also led to significant returns to its shareholders for three decades. The next generation of its strategic business investments are centered around green hydrogen ecosystem, airport management, data center, roads a

For more information please contact

Roy Paul Adani Group, Corporate Communication Tel: +91-79-25556628 roy.paul@adani.com Manan Vakharia Adani Enterprises Ltd Investor Relations Tel: +91-79-25556140 mananj.vakharia@adani.com Adani Enterprises Ltd (CIN No : L51100GJ1993PLC019067)

Registered Office

“Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S.G. Highway, Khodiyar, Ahmedabad 382 421, Phone : 079-26565555 ; Fax : 079-26565500 ; Email : info@adani.com ; Website : www.adanienterprises.com Annexure B Adani Enterprises Ltd 9M & Q3 FY25 Earnings Presentation AEL : Consolidated Financial Highlights (YoY) Nine months ended ` In crores Total Income 6% 68,651 17,068 72,763 25,170 47% 51,583 47,593 Results at glance EBITDA 29% 12,377 7,674 77% 9,591 4,339 5,252 4,703 PBT 21% 114% 5,220 4,016 1,204 4,319 1,875 2,444 9M-24 9M-25 9M-24 9M-25 9M-24 9M-25 Established Businesses Incubating Businesses (core infra) Incubating Business – [Energy & Utility – ANIL Ecosystem, Adani Connex Data Center, Transport & Logistics – Adani Airports Holdings Ltd, Adani Road Transport Ltd] Established Business – [Primary Industries – Mining services, IRM, Mining, Metals and Industrials] 2 AEL : Incubating Business Growth ANIL AAHL Green Hydrogen Ecosystem Airports 43% Nine months ended ` In cro

Cash Inflows and Impact on AEL Investment Plans

• • Cumulative post-tax equity of ~USD 1.6 bn available for investments on core infrastructure businesses USD 1.6 bn cash to be base equity USD 8.2 bn Capex investments will be enabled (at D/E - 80:20) USD 1.3 bn Run Rate EBITDA p.a. to be generated (at 15-18% return) USD 600 mn Cash After Tax p.a. to be generated (~Rs.14,200 crore) (~Rs.70,800 crore) (~Rs.11,300 crore) (~Rs.5,100 crore) AEL’s consolidated PAT to have impact of ~USD 36 mn (Rs.300 cr) from AWL exit AEL: Adani Enterprises Ltd; ACLLP: Adani Commodities LLP; Lence: Lence Pte Ltd; AWL: Adani Wilmar Ltd 14 Business Updates 15 AEL : Energy & Utility – Adani New Industries Ltd (ANIL) Integrated Manufacturing Solar Plant Capacity Status Cell & Module (TopCon) Cell & Module (MonoPerc) 2.0 GW ▪ Module & Cell line operational 2.0 GW ▪ Module & Cell line operational Ingot & Wafer 2.0 GW ▪ Operational Module sales increased by 74% Quarterly sales Geographical sales 1882 638 630 614 9M-24 3273 893 1001 1379 9M-25 1882 1232 650 9M-24