Adani Green Energy Limited

rs,

Date: February 11, 2025 To BSE Limited P J Towers, Dalal Street, Mumbai – 400 001 The National Stock Exchange of India Limited “Exchange Plaza”, B

73.97%

Portfolio Adani Portfolio: A World class infrastructure & utility portfolio Flagship Incubator (73.97%) AEL Infrastructure & Utility Core Portfolio Energy & Utility Transport & Logistics (100%) AN

100%

(73.97%) AEL Infrastructure & Utility Core Portfolio Energy & Utility Transport & Logistics (100%) ANIL New Industries (50.00%) AdaniConneX3 Data Centre (100%) AAHL Airports (100%) ARTL Roads

50.00%

re & Utility Core Portfolio Energy & Utility Transport & Logistics (100%) ANIL New Industries (50.00%) AdaniConneX3 Data Centre (100%) AAHL Airports (100%) ARTL Roads (60.94%) (74.96%) AGEL Rene

60.94%

ANIL New Industries (50.00%) AdaniConneX3 Data Centre (100%) AAHL Airports (100%) ARTL Roads (60.94%) (74.96%) AGEL Renewables (69.94%) AESL T&D APL IPP (37.40%) ATGL2 Gas Discom (65.89%) APS

74.96%

ndustries (50.00%) AdaniConneX3 Data Centre (100%) AAHL Airports (100%) ARTL Roads (60.94%) (74.96%) AGEL Renewables (69.94%) AESL T&D APL IPP (37.40%) ATGL2 Gas Discom (65.89%) APSEZ Ports &

69.94%

nneX3 Data Centre (100%) AAHL Airports (100%) ARTL Roads (60.94%) (74.96%) AGEL Renewables (69.94%) AESL T&D APL IPP (37.40%) ATGL2 Gas Discom (65.89%) APSEZ Ports & Logistics (100%) NQXT1

37.40%

HL Airports (100%) ARTL Roads (60.94%) (74.96%) AGEL Renewables (69.94%) AESL T&D APL IPP (37.40%) ATGL2 Gas Discom (65.89%) APSEZ Ports & Logistics (100%) NQXT1 Primary Industry Materials, M

65.89%

ads (60.94%) (74.96%) AGEL Renewables (69.94%) AESL T&D APL IPP (37.40%) ATGL2 Gas Discom (65.89%) APSEZ Ports & Logistics (100%) NQXT1 Primary Industry Materials, Metal & Mining (100%) Copp

67.53%

um (100%) PVC (100%) Specialist Manufacturing5 (100%) Mining Services & Commercial Mining (67.53%) Cement4 Emerging B2C Direct to consumer (100%) ADL Digital (64.71%) NDTV (43.94%) AWL6 F

64.71%

s & Commercial Mining (67.53%) Cement4 Emerging B2C Direct to consumer (100%) ADL Digital (64.71%) NDTV (43.94%) AWL6 Food FMCG (%): Adani Family equity stake in Adani Portfolio companies (%):

43.94%

Mining (67.53%) Cement4 Emerging B2C Direct to consumer (100%) ADL Digital (64.71%) NDTV (43.94%) AWL6 Food FMCG (%): Adani Family equity stake in Adani Portfolio companies (%): AEL equity stake

“PSP: Pumped storage project | PPA: Power Purchase Agreement 14 AGEL: Growth & cash generation capability de-risked Operational Capacity & EBITDA from Power Supply EBITDA from Power Suppply (INR Cr.) 43% CAGR Operational Capacity (MW) 34% CAGR 1,9… 1,970 834 1,710 2,545 1,859 FY18 FY19 FY20 3,470 2,207 FY21 8,086 5,538 5,410 3,508 10,934 7,222 Run-rate EBITDA of Rs.”

“Financing Project Financing SPV level Stabilization Phase Post-Stabilization Phase LCs & short-term funds to finance equipment Ensure senior debt availability for Project Construction Ensure availability of working capital Debt Capital market refinancing at lower interest rate, longer tenure and terms akin to stable assets Fully-funded Growth Development Phase De-risking of Liquidity Risk Stabilization Post-stabilization Phase l e c y c e f i l j t c e o r P t u o h g u o r h t .”

“• With an aim to reduce Scope 3 emissions, AGEL extensively engaged with the suppliers leading to 87% of manufacturing suppliers disclosing their GHG emissions through CDP supply chain program.”

“Development & Execution Excellence ▪ Project Management, Execution and Assurance through AIIL: Large team of skilled professionals having specialized knowledge & hands-on experience and 20,000+ vendor network ensuring effective and timely execution.”

“▪ AGEL operational capacity addition has outpaced the industry, achieving a CAGR of 41% in last 5 years (Industry CAGR ~13%) and is on track to achieve its stated target of 50 GW by 2030.”

India can solve the supply-demand mismatch by

1

India can solve the supply-demand mismatch by

▪ Power demand management - shifting power load to daytime ▪ Flexing thermal and hydro ▪ Storage – Hydro PSP and Batteries As per CEA’s National Electricity Plan – Volume II (Transmission), the peak demand by FY32 to be ~388 GW. RE contribution in the power supply is expected to increase from current 35% to 59% by FY32. Given the intermittent nature of RE sources, the energy storage systems are planned to be integrated in the grid - 47 GW BESS and 36 GW PSP capacity by FY32. Load curve to flatten, however significant unmet demand during non-solar hours creates a strong case for Storage Source CEA optimal mix report, AGEL Internal analysis; Nati, CEA’s National Electricity Plan – Volume II (Transmission) PSP: Pumped storage project | BESS: Battery Energy Storage System | CEA: Central Electricity Authority 11 Select YearSelect MonthDemand ShiftingThermal Tech MinSourceGWBUsSolar292.661Wind99.924Other RE336Hydro59.317Gas252Nuclear158Thermal252107BESS/ PSP installed60.6Thermal - PLF 56.9%T