TATAPOWERNSE4 February 2025

Tata Power Company Limited has informed the Exchange about Investor Presentation

Tata Power Company Limited

BSE Limited Corporate Relationship Department 1st Floor, New Trading Ring Rotunda Bldg., P. J. Towers Dalal Street, Fort Mumbai – 400 001. Scrip Code: 500400

Dear Sir/Madam,

February 4, 2025

National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No. C/1, G Block Bandra-Kurla Complex Bandra (East) Mumbai – 400 051. Symbol: TATAPOWER

Presentation to Analysts

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we forward herewith a presentation made to the Analysts today in connection with the Audited Standalone Financial Results and Unaudited Consolidated Financial Results of the Company for the quarter and nine months ended December 31, 2024.

The above information are also being made available on the Company’s website at www.tatapower.com

Yours Sincerely, For The Tata Power Company Limited

Vispi S. Patel Company Secretary FCS 7021

Encl: As above

The Tata Power Company Limited

F I N A N C I A L R E S U L T S – Q 3 F Y 2 5

0 4 F e b r u a r y 2 0 2 5

Disclaimer

This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any jurisdiction or as an inducement to enter into investment activity. No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This document is not financial, legal, tax or other product advice.

This presentation should not be considered as a recommendation to any investor to subscribe for, or purchase, any securities of the Company and should not be used as a basis for any investment decision. This document has been prepared by the Company based on information available to them for selected recipients for information purposes only and does not constitute a recommendation regarding any securities of the Company. The information contained herein has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with the document. Furthermore, no person is authorized to give any information or make any representation, which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the Company.

The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any person of such revision or changes. This document is given solely for your information and for your use and may not be retained by you nor may this document, or any portion thereof, be shared, copied, reproduced or redistributed to any other person in any manner. The distribution of this presentation in certain jurisdictions may be restricted by law. Accordingly, any person in possession of this presentation should inform themselves about and observe any such restrictions. By accessing this presentation, you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.

The statements contained in this document speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances on which any such statements are based. By preparing this presentation, none of the Company, its management, and their respective advisers undertakes any obligation to provide the recipient with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in any such information which may become apparent.

This document has not been and will not be reviewed or approved by a regulatory authority in India or by any stock exchange in India. This document and its contents should not be forwarded, delivered or transmitted in any manner to any person other than its intended recipient and should not be reproduced in any manner whatsoever.

This presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent 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.

This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in the Company’s business, its competitive environment, information, technology and political, economic, legal and social conditions in India. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward-looking statements. In addition to statements which are forward looking by reason of context, the words ‘anticipates’, ‘believes’, ‘estimates’, ‘may’, ‘expects’, ‘plans’, ‘intends’, ‘predicts’, or ‘continue’ and similar expressions identify forward looking statements.

Agenda

04 About Tata Power

10 Sustainability: Manifesting a Greener Tomorrow

Industry Highlights

30 Business Highlights

44 Operational & Financial Highlights

50 Annexures

68 What sets us Apart

About: Tata Power Company Limited (TPCL)

tatapower.com tatapower.com

5 5 M W A C P a l a s w a d i , M a h a r a s h t r a

India’s largest vertically-integrated power company

Generation

New-age Energy Solutions

Generation

~25.6 GW

~16.8 GW

~8.9 GW

Total Capacity (Operational + Under construction)

Clean & Green Energy (Including 10.1 GW Under Construction)

Thermal energy generation (Installed capacity)

Transmission

4,633 Ckm

Operational Transmission lines

2,414 Ckm

Transmission line under construction

New-age Energy Solutions

Distribution

12.6 Mn

Customers in Distribution

Renewables

Transmission & Distribution

~4.9 GW

Manufacturing capacity for Cell & Module each (including 0.3GW Cell Capacity under commissioning)

2.8 GW

MoU signed for Pumped Hydro Project (PSP)

5,500

Public EV charging points energised across 580+ cities and towns

Generation, Transmission and Distribution assets spread across India

Capacity Mix (Domestic + International)

8,860 MW Thermal

1,034 MW Wind

880 MW

Hydro

25,620 MW

Total capacity (Operational + Under construction)

443 MW Waste Heat Recovery /BFG

4,350 MW Solar

10,053* MW Clean & Green capacity under construction

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

Thermal

Clean and Green

Solar

Wind

Waste Heat/BFG

Hydro

Transmission and Distribution 12.6 Mn

4,633 Ckm

Customers in Distribution

Operational Transmission lines

2,414 Ckm

Transmission pipeline under construction

Transmission assets

Distribution assets

Generation assets

*Includes 15MW of IEL and excludes Rooftop under -pipeline capacities

Assets located outside India

Georgia, Adjaristsqali

187 MW

Installed capacity

50%

TPCL stake

Zambia, Itezhi Tezhi (ITPC)

120 MW

Installed capacity

50%

TPCL stake

Bhutan, Khorlochhu

600 MW

Pipeline capacity

40%

TPCL stake

Bhutan, Dagachhu

126 MW

Installed capacity

26%

TPCL stake

Indonesia Coal Mines

78 MT

Total Capacity

Coal mines Kaltim Prima Coal (KPC) Baramulti Suksessarana (BSSR) Antang Gunung Meratus (AGM)

Tata Power Share % 30% 26% 26%

Hydro

Coal Mines

Thermal Power Plant v

Under Construction Hydro Plant

PT Citra , Indonesia

54 MW

Installed capacity

30%

TPCL stake

*Operational and Financial numbers on a 100% basis.

Q3FY25Q3FY24Q3FY25Q3FY24Q3FY25Q3FY24Production (MT)12.113.31.11.13.63.5Sales (MT)14.215.81.31.43.84.2Q3FY25Q3FY24Q3FY25Q3FY24Q3FY25Q3FY24Revenue (USDm)970.11293.060.163.7169.3214.1EBITDA (USDm)72.738.06.68.034.659.2PAT (USDm)35.222.61.31.719.036.9KPC BSSR AGM *Financial Parameters*Operational ParametersFinancial performance consistently improving over the years

Revenue (in ₹ Cr)

47,174

9M FY25

FY24

FY23

FY22

FY21

FY20

61,542

56,033

42,576

33,239

28,948

Reported PAT^ (in ₹ Cr)

3,469

9M FY25

FY24

FY23

FY22

FY21

FY20

4,280

3,810

2,156

1,439

1,316

EBITDA (in ₹ Cr)

10,639*

9M FY25

FY24

FY23

FY22

FY21

FY20

ROE (%)

13.1%

9M FY25

FY24

FY23

FY22

FY21

FY20

Underlying EBITDA (in ₹ Cr)

11,350**

9M FY25

12,701

10,068

8,192

7,978

8,317

FY24

FY23

FY22

FY21

FY20

13,878

13,268

10,134

8,851

9,269

EPS (₹) ^^

10.4

9M FY25

FY24

FY23

FY22

FY21

FY20

5.36

3.17

3.12

11.02

10.43

11.3

12.6

8.4

6.1

6.2

*Including other income | **Including Share of JV's and Associates | ^ Before Minority Interest | ^^Adjusted EPS (excluding exceptional items)

Clean & Green to account for ~65% capacity post project completions

Tata Power Capacity (IN MW )

Current Operational Capacity share (IN %)

5% 2%

26%

57%

Thermal

Solar

Wind

Hydro

Hybrid

WHRS

Capacity share post completion of projects (IN %)

4%2%

Thermal

Solar

Wind

Hydro

WHRS

Hybrid

Operational

Wind

Solar

Hydro

Complex / FDRE

PSP

Hybrid

Total Clean & Green capacity

tatapower.com

10%

11%

35%

11%

19%

*WHRS: Waste Heat Recovery System BFG: Blast Furnace Gas

Solar

Hybrid

PSP

Hydro

Complex/FDRE

Wind

WHRS

Sustainability: At the core of all that we do

Carbon Net Zero B y 2 0 4 5

tatapower.com

Water Neutral B y 2 0 3 0

Zero Waste to Landfill B y 2 0 3 0

Our sustainability aspirations

Become Water Neutral by 2030

Become Net Zero by 2045

E S G Inclusion in S&P Global

Education : Train 21 lakh+ people in digital & financial inclusion by 2028. Enable 7.5 lakhs+ conservation and STEM education champions by 2028.

Employability and Employment : 3.76 lakh+ youth to be trained and made employable by 2028 with over 40% outreach to women

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

Emerging Market List by 2027

Zero Waste to Landfill by 2030

No Net Loss to Biodiversity by 2030

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

Entrepreneurship : Enable 35,000+ community collectives (Self Help Group members) under Anokha Dhaaga by 2028

Impact Lives of 80mn by 2030 : Enabling Progressive practices in 4,000+ Community Institutions with 15% special outreach under Tata Affirmative Action.

Gender Diversity : Improve Gender Diversity to 20% by 2028

Train 7,000+ trainers in conservation education pedagogy

Taking leaps towards our ESG goals

Parti cul ars

Des cri pti on

On goi ng a cti ons

Val ue ( FY24)

Yea r

Val ue

Year

Ba s el i ne

Ta rget

Clean & Green portfolio

16%*

2015

70%

2030

• 43% Clean & Green portfolio currently; 65% Clean & Green capacity

post completion of projects in pipeline

Net Zero (Absolute Carbon Emissions) Scope 1 and 2

41.5 MT

2024

100%

2045

Envi ronment

Water consumption (Total Water Consumption)

320 Mn m3

2024

100%

2030

• SBTi commitment • Renewable portfolio growth • Thermal plant phase-out plan • Annual plantation of more than 1 Mn saplings • 3% Fresh water reduction • 17% Rainwater harvesting • 80% by oﬀsets

Zero Waste to Landﬁll

7.59 MT non-hazardous waste; 243 MT hazardous waste

2024

100%

2030

• Waste utilisation of ash

Total Non-Hazardous Waste (including Ash)

7.59 MT

Education

26.25 Lakh

Employability & Employment

2.76 Lakh beneficiaries

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

waste

2024

28.5 Lakh

2028

• CSR initiatives made a positive impact on 62.67 Lakh lives across

3.76 Lakh

2028

18 Indian states during FY24

• 2 flagships enhanced with long-term focus in association with GOI

S oci al

Entrepreneurship

30,000 beneficiaries

2024

35,000

2028

Gender diversity (%)

10%

2024

20%

2028

and Tata Group synergies

• Special outreach made in 15 aspirational districts • Over 20 Cr CSR investments in H1 made across 100 neighbourhoods

of Tata Power Group

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

programme

Governance

DJSI Emerging Markets List (Absolute Score)

67/100

*Base year 2015 for Clean & Green portfolio in alignment with Paris Agreement

2023

80/100

2027

• ESG Action Plan and gap analysis

Achieving 100% Clean & Green power generation by FY45

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

2024 Transitioning towards a clean and green portfolio through renewable energy capacity expansion

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

2045 Phasing out thermal portfolio in 2045* as Power Purchase Agreements (PPA’s) for our thermal capacities expire

100

Clean & Green (%)

Thermal (%)

*Subject to completion of contractual obligations and useful life

Tata Power becomes the first integrated power company in India with approved Science-Based Target initiatives (SBTi)

Achievement Tata Power's near- term targets validated by SBTi, marking a significant milestone

Ambitious goals

Reduce Scope 1 GHG emissions by 70.5% per MWh by FY37 from FY22

Reduce Scope 1 and 3 GHG emissions from sold electricity generation by 70.5% by FY37

SBTi collaboration SBTi collaboration drives ambitious corporate climate action globally

Leadership statement Tata Power sees alignment with science-based criteria as a responsibility and a testament to dedication towards all sustainable future

Validation process Tata Power's targets rigorously validated against SBTi's criteria and recommendations

Pioneering status Sole Indian integrated power company with validated SBTi targets, aligning with the well- below 2°C trajectory

Reduce absolute Scope 2 GHG emissions by 12.5% by FY27 from FY22

Continued mission Tata Power committed to leading by example and contributing to addressing the global climate crisis

Gradually improving our ESG ratings

2024

2023

2022

2021

2020

2019

BBB

37.4

38.5

41.2

38.6

CDP – Climate Change

CDP – Water

S&P - CSA (Higher score is better)

MSCI

Sustainalytics

(Lower score is better)

Dates of last published ratings: CDP – Water : February 2024; CDP – Climate Change : February 2024; DJSI – November 2024; MSCI – April 2024; Sustainalytics – November 2024

Present across 5 Ecosystems

Biodiversity Action Plans for all sites

TNFD pilot completed

No Net Loss for Biodiversity Action plan for 60 solar sites & 22 wind sites

Active partnerships with Government bodies, CII – IBBI, IUCN, SNEHA NGO, ICICI Foundation, Godrej

Empowering Communities

62.67 lakhs (FY24) Outreach Reaching out by Strengthening Community Institutions

13.2 lakhs FY25(Q3)

100+

Districts in 18 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

Optimal Utilization of Resources

Green Jobs

Far Reaching Impact on Community and Co- ownership

Technology Enablement

Institutionalization & Standardization

Tree Mittra leveraged for social afforestation

**Source: https://www.futurescape.in/responsible-business- rankings/ | https://thecsrjournal.in/top-100-companies- india-csr-sustainability-2021/

CSR Mission

To work with communities in our neighborhoods & specially identified regions to address existence by addressing salient development imperatives

The key interventions for target communities are focused in the following thematic areas

Education

Employability & Employment

Entrepreneurship

Essential Enablers

Key Programmes Footprint and Inclusion Focus

CSR footprint

Tata Power footprint

Density areas

TP presence

15 Aspirational Districts

110+ Districts

18 States

AA Density map

Thought Leadership for Social Inclusivity

• Pay Autention Bridgital Network and the toll-free helpline

promotes phygital support services and capability- building for neurodiverse individuals & care-givers; easing home-care & early diagnosis in India

NGOs

Clinical facilities

• 71 network partners & volunteers from Tata Group

companies enabled to work in close association with Ministry of Social Justice & Empowerment – Dept of Persons with Disabilities

Researchers

Corporates

Government

Institutions

• 5700+ families' mass-testing conducted phygitally & over

10,000 families supported via capability-building workshops so far

• Tata Affirmative Action ethos based special initiatives

ongoing with sanitation workers & other tribal women & farmers groups

Volunteers

Parents and

Caregivers

Well-established Governance Systems

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

CSR & Sustainability Board Committee

Apex Leadership

SBU Heads

Corporate Sustainability Team

Sustainability SPOCS

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

y g o o n h c e t

w e N

Leadership and Oversight on Sustainability

Advocacy

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

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

Going beyond compliance

Architecture of Care

m e t s y S d n a

s e r u t c u r t S

a n o i t u t i t s n

Robust Governance Structure in place

Audit Committee

Nomination and Remuneration Committee

Shareholders

Board of Directors

Stakeholders Relationship Committee

CSR & Sustainability Committee

Risk Management Committee

Governance policies • Tata Code of Conduct • Code of Conduct for Independent Directors • Code of Conduct for Non-Executive Directors • Related Party Transactions Policy, Framework & Guidelines • Whistle Blower Policy & Vigil Mechanism • Risk Management Policy - ISO certified • CSR Policy • Tata Code of Conduct for Insider Trading and Corporate

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

Awards & Recognition

Tata Power has been honored with the Mahatma Award 2024 for CSR Excellence—our second consecutive win!

Odisha CSR and Sustainability Excellence awards 2024 for promotion of traditional and craft

Tata Power awarded in the large cap companies’ category at the KPMG ESG Conclave & Awards

Tata Memorial Hospital has awarded Tata Power for being major contributor in blood donation

Tata Power Delhi CSR Site Visit for a group of 20 students from York University, United Kingdoms.

Project Brigital Inclusivity

Industry Highlights

tatapower.com

Power Demand is up 4.5%Y-o-Y in 9MFY25 despite weak Q2

India has one of the lowest power consumption per capita

(IN KW H)

Ratio of Power Generation Growth to GDP growth has increased in the past 5 years

Monthly Energy Requirement (IN BUs)

Coal-based plants' PLF %

(IN %)

1,360 units India’s Power Consumption Per Capita

30,000

25,000

20,000

15,000

10,000

5,000

N o r w a y

C a n a d a

U S

J a p a n

R u s s a

F r a n c e

G e r m a n y

C h n a

U K

B r a z

i l

I n d a

Data represents per capita power consumption for CY23

Source: ember-climate.org

tatapower.com

5.9%

1.07x

1.2x

1.1x

1.0x

0.92x

5.4%

4.4%

4.7%

0.9x

0.8x

0.7x

0.6x

0.5x

0.4x

FY14 - FY24

FY19 - FY24

175.0

155.0

135.0

115.0

95.0

75.0

55.0

35.0

15.0

-5.0

A u g 2 3

S e p 2 3

O c t 2 3

N o v 2 3

D e c 2 3

J a n

2 4

F e b 2 4

M a r 2 4

A p r 2 4

M a y 2 4

J u n

2 4

J u

2 4

A u g 2 4

S e p 2 4

O c t ' 2 4

N o v 2 4

D e c 2 4

GDP Growth (CAGR)

Power Generation Growth (CAGR)

Energy Requirement

Power Gen growth: GDP growth (RHS)

YoY Growth

25%

85%

20%

80%

15%

75%

10%

70%

65%

60%

-5%

55%

-10%

50%

72%

66%

61%

A u g 2 3

S e p 2 3

O c t - 2 3

N o v - 2 3

D e c - 2 3

J a n

2 4

F e b 2 4

M a r 2 4

A p r 2 4

M a y 2 4

J u n

2 4

J u

2 4

A u g 2 4

S e p 2 4

O c t 2 4

N o v 2 4

D e c 2 4

Central Sector

All India

State Sector

Private Sector

Source: RBI, Ministry of Statistics & Program Implementation & Powermin

Source: CEA

Source: NPP

RE accounted for 94% of Capacity additions in India during 9MFY25

Total Installed Capacity in India currently stands at 462GW

5.2GW added in Dec-24 (IN GW )

20.0 GW added in 9MFY25* (IN GW )

Renewables (incl. Hydro) accounted for ~94% of capacity additions in 9MFY25 (IN %)

244

s d n a s u o h T

9.0

8.0

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

As on Dec 31,2024

A u g 2 3

S e p 2 3

O c t 2 3

N o v 2 3

D e c 2 3

J a n

2 4

F e b 2 4

M a r 2 4

A p r 2 4

M a y 2 4

J u n

2 4

J u

2 4

A u g 2 4

S e p 2 4

O c t 2 4

N o v 2 4

D e c 2 4

0.5

9.4

1.8 0.9

4.6

F Y 1 8

0.4

6.5

1.6 0.2

3.4

F Y 1 9

0.4

0.1

13.9

12.8

0.8

6.4

2.1 0.4

0.3

5.5

1.6 0.6

4.3

4.1

F Y 2 0

F Y 2 1

1.1 0.6 1.4

F Y 2 2

2.3 0.2 1.2

F Y 2 3

1.4 0.1

0.4

15.0

16.1

0.1

2.3

1.2

Y T D F Y 2 5

3.3

5.9

F Y 2 4

Thermal

Hydro (incl. small Hydro)

Wind

Solar

Nuclear

Other Renewable (Biomass, Waste to Energy)

Source: Central Electricity Authority

*220 MW of gas based capacity was decommissioned in Q1FY25

tatapower.com

0% 0% 0% 0% 0% 2% 3% 6%

0% 5% 0% 1% 2%

58%

77%

80%

54%

46%

10%

13%

15%

45%

13%

27%

28%

31%

34%

F Y 1 8

F Y 1 9

F Y 2 0

F Y 2 1

6% 3% 8%

F Y 2 2

14%

1% 7%

F Y 2 3

13%

23%

F Y 2 4

11%

1% 6%

Y T D F Y 2 5

Cell and Module prices continue to decline; Coal has stabilized

Price Movement of Polysilicon & Wafer

Price Movement* of Solar Cell & Module

Thermal Coal Prices (US$/t)

1.4

1.2

1.0

0.8

0.6

0.4

0.2

0.0

5.54

0.14

0.28

0.23

0.18

0.13

0.08

0.03

S e p - 2 0

D e c - 2 0

M a r - 2 1

J u n - 2 1

S e p - 2 1

D e c - 2 1

M a r - 2 2

J u n - 2 2

S e p - 2 2

D e c - 2 2

M a r - 2 3

J u n - 2 3

S e p - 2 3

D e c - 2 3

M a r - 2 4

J u n - 2 4

S e p - 2 4

D e c - 2 4

450

400

350

300

250

200

150

100

0.09

0.04

126.6

122.5

S e p - 2 0

D e c - 2 0

M a r - 2 1

J u n - 2 1

S e p - 2 1

D e c - 2 1

M a r - 2 2

J u n - 2 2

S e p - 2 2

D e c - 2 2

M a r - 2 3

J u n - 2 3

S e p - 2 3

D e c - 2 3

M a r - 2 4

J u n - 2 4

S e p - 2 4

D e c - 2 4

D e c 2 1

M a r

2 2

J u n

2 2

S e p 2 2

D e c 2 2

M a r

2 3

J u n

2 3

S e p 2 3

D e c 2 3

M a r

2 4

J u n

2 4

S e p 2 4

D e c 2 4

Polysilicon (US$/kg)

Wafer RHS (US$/piece)

Modules (US$/Watt)

Cell (US$/Watt)

Source: Bloomberg

Indonesian Coal (HBA Index 6322kcal / kg)

Australian Coal (6300 kcal / kg)

Source: Bloomberg, World Bank, and Global Coal

tatapower.com

*Price for imported Cell & Modules (FOB basis); both tariff (BCD of 40% on modules and 25% on cell) & non- tariff barriers (ALMM & DCR) results in domestic prices for cell and modules trading higher than imported tatapower.com

RE auctions at a record ~29 GW in YTD FY25

Minimum e-reverse auction tariff’s (₹/kWh) in YTD FY25

Renewable energy auction volumes (GW)

4.8

4.3

3.8

3.3

2.8

2.3

1.8

4.1

3.3

2.7 2.5

2.4

4.1

3.3

2.8

2.7 2.5

4.4

3.8

3.2

3.1

2.7

4.1

3.8

3.6

3.2

2.5

3.6

3.3

2.8

2.4 2.0

3.3

3.2 2.7

2.3 2.1

3.2

2.5 2.4 2.3

0.2 1.2 1.4 1.7

21.7

0.8

5.6

13.1

2.5 1.7 1.7

11.4

0.32 1.4 2.2

8.7

0.7 0.4 2.2 2.5

5.4

9.3

6.5

2.2

23.1

8.2

1.8

11.0

FY19

FY20

FY21

FY22

FY23

FY24

YTD FY25

FY19

FY20

FY21

FY22

FY23

FY24

YTD FY25

Solar

Wind

Hybrid

Hybrid (with storage)

Floating Solar

Solar

Wind

Hybrid

Hybrid (With storage)

Floating Solar

Source:- Elekore HSBC Research

Source:- Elekore, HSBC Research

Transmission auction bids continue to surge in YTD FY25

USD110 Bn transmission Capex anticipated in India between FY25-32E (USD Bn)

YTD FY25 Transmission Auction Bids surge to nearly 2.3x FY24 Levels (in ₹ Bn)

1,086

Intra-State, USD 32 bn

Inter-State, USD 78 bn

Inter-State Transmission System Intra-State Transmission System

S.No.

Key Highlights

Current

2032e

Transmission line Length (CKm)

4.85 lakhs

6.48 Lakhs

Transformation Capacity (GVA)

1,251

2,342

Peak Electricity Demand

250 GW

458 GW

Inter-regional transmission capacity

119 GW

168 GW

Source: National Electricity Plan (NEP) –Oct’24

474

212

107

100

148

105

132

FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 YTD FY25

Source:- Tata Power Estimates, ICICI Securities

India Distribution: On the mend but concerns remain

All India AT&C losses (%) have risen in FY24 after declining in the past two years All India basis

6 6 2

5 5 2

7 5 2

6 2 2

7 3 2

5 1 2

6 1 2

7 0 2

3 2 2

4 6 1

* 6 7 4 1 5 1

RDSS and LPS have helped reduce DISCOM dues (in ₹ Cr)

1,05,330

1,02,780

83,716

59,127

25,016

26,242

30,785

FY19

FY20

FY21

FY22

FY23

FY24

YTD FY25

Source: PRAAPTI portal

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

Key challenges for State DISCOMs

2 1 Y F

3 1 Y F

4 1 Y F

5 1 Y F

6 1 Y F

7 1 Y F

8 1 Y F

9 1 Y F

0 2 Y F

1 2 Y F

2 2 Y F

3 2 Y F

4 2 Y F

Increased power purchase cost

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

Limitation on taking RE benefits

AT&C (Aggregate Technical & Commercial) Losses (%)

Note: RDSS is Revamped Distribution Sector Scheme, LPS is Late Payment Surcharge

Source: PFC Report * Provisional numbers

Business Highlights

tatapower.com

N e e m u c h 3 3 0 M W S o l a r P l a n t , M a d h y a P r a d e s h

Key Highlights

TPREL commissioned one of India’s largest floating solar projects of 126 MWp in Omkareshwar, Madhya Pradesh

Tata Power Trading Company Ltd. (TPTCL) partnered with Noida International Airport to supply 10.8 MW of wind power

Awarded for significant engagement in excellence competency development at the Business Excellence Convention 2024

Signed an MoU with the Odisha Renewable Energy Development Agency (OREDA) to accelerate rooftop solar power adoption among residential customers under PM Surya Ghar program

Tivolt has signed a MoU with TPREL, to enhance e-mobility for commercial vehicles across the country

Additional 2GW Mono PERC Cell line commissioned; 4.3GW Module plant running at 90%+ utilization levels

TP Solar secured a ₹455Cr contract to supply 300 MWp ALMM Modules to Maharashtra State Power Generation Company Limited.

Partnership with Bhutan’s Druk Green Power Corporation Ltd. to develop 5,100 MW of clean energy projects in Bhutan

tatapower.com

Tata Power signed an MoU with Asian Development Bank for US$4.25 bn to finance key clean energy power projects

Commissioned 431 MW DC (330MW AC) Solar Plant in Neemuch, Madhya Pradesh; India’s first solar plant to incorporate a unique combination of single-axis trackers and bi-facial modules.

TPREL has joined hands with Canara Bank to promote the adoption of rooftop solar systems under the PM Surya Ghar Scheme.

This collaboration aims to simplify access to solar energy solutions for households by providing attractive financing options, empowering citizens to transition to a more sustainable energy future.

Solar Utility Scale EPC (incl. Group Captive) Update

WELL DIVERSIFIED UTILITY SCALE ORDER BOOK

Utility Scale EPC & Group Captive Order Book (IN ₹ CRORE)

629

Order book at the end of Q2 FY25

Q3 Revenue

Revenue reversal related to prior quarters*

Order book at the end of Q3 FY25

*Due to change in revenue accounting methodology

BUSINESS UPDATES

• Utility Scale (including

Group Captive) Solar EPC business has won 614MW orders worth ~₹ +Cr in YTD FY25

• Executed 467MW of

projects during the quarter

tatapower.com

15,264 13,556 1,079 629 CUSTOMERORDER BOOK (₹ CR)Tata Power Group6,880 SJVN2,867 Group Captive1,543 NLC1,122 NHPC1,016 NTPC127 Order Book as on 30th Dec'24 (₹Cr)13,556 Solar Rooftop – Q3 FY25 Highlights

3 rd PARTY ROOFTOP ORDER BOOK (₹ cr.)

Revenue of 3 rd Party Rooftop (In ₹ Crore)

Order book at the end of Q2 FY25

Orders received

in Q3

Q3 Revenue

Order book at the end of Q3 FY25

Q3 FY25

509

Q2 FY25

439

Q3 FY24

444

267 MW orders w on in YTD FY25

Revenue Breakup for YTD FY25

(In%)

(In ₹Cr)

16%

84%

489

852

Rooftop Residential

Rooftop C&I

Rooftop Residential

Rooftop C&I

3rd PARTY ROOFTOP • Order Book at Q FY stands at ₹ crore • 134 MW Solar Rooftop installed in Q3 FY25 • Channel network crosses 560+ partners

across 400+ districts

tatapower.com

Tata Power – EZ Charge

Cities and towns covered

Public and Captive Charging Points

582

518

5,488

5,500

BUSINESS HIGHLIGHTS

3,778

326

242

1,128

344

FY 21

FY 22

FY 23

FY 24

YTD FY 25

FY 21

FY 22

FY 23

FY 24

YTD FY 25

Home Chargers

E-Bus Charging Points

1,23,488

86,086

1,156

858

38,899

13,107

2,698

234

tatapower.com

FY 21

FY 22

FY 23

FY 24

YTD FY 25

FY 21

FY 22

FY 23

FY 24

YTD FY 25

Odisha Discoms – Q3 FY25 Highlights

Smart M eters Installed till Date

REDUCING AT&C LOSSES => PROM ISING GROWTH (Excl. past arrears)

TPCODL

~1,62,950

TPSODL

~2,67,350

TPWODL

~3,87,340

TPNODL

~2,18,350

Q3FY25

13.9%

Q3FY24

14.8%

Q3FY25

21.3%

Q3FY24

25.3%

Q3FY25

14.9%

Q3FY24

11.4%

Q3FY25

8.7%

Q3FY24

9.4%

STRONG OPERATIONAL PERFORMANCE ACROSS ALL DISCOMS

T H E F T L O AD ( M W p )

M E T E R S R E P L AC E D ( i n l a k h s )

S U B S T AT I O N S AU T O M AT E D ( N o ’ s )

P R E - T AK E O V E R AR R E AR S C O L L E C T E D ( ₹ C r s )

Q 3 F Y 2 5

U p t o D e c ’ 4

Q 3 F Y 2 5

U p t o D e c ’ 4

Q 3 F Y 2 5

U p t o D e c ’ 4

Q 3 F Y 2 5

U p t o D e c ’ 4

375

0.4

11.4

299

0.8

6.8

376

0.6

7.6

224

158

219

441

286

417

356

0.4

9.4

176

650

tatapower.com

4.3 GW Cell and Module Manufacturing Plant - Update

4.3GW Module plant operating at >90% utilisation

Additional 2GW Mono PERC Cell line commissioned in Dec’24

0.3GW TOPCon Cell line to be commissioned in Q4FY25

Module production ramp up (GW)

Cell production ramp up (GW)

~ 4.0

~3.3

~4.0

0.6

0.9

~ 1.0

~0.2

Q1 FY25 Q2 FY25 Q3 FY25

FY25E

FY26E

Q3 FY25

FY25E

FY26E

tatapower.com

PM Surya Ghar Yojna (PMSGY): Will be the focus area for coming years

Salient features of PMSGY Scheme

Why The Scheme Works

1 Cr

Households with Solar Rooftops

₹11,000 Cr

Budget allocated for FY25

₹20,000 Cr

Budget for FY26

3 Mn

Households Tata Power’s target for next 3 years

Advance payment by customer to installer, subsidy later to customer

Sr. No.

Type of Residential Segment

1 Up to 2 kW

Central Financial Assistance (CFA)

₹30,000 per kW or part thereof

2 Between 2 kW and 3 kW ₹18,000 for

additional kW or part thereof

3 Capacity beyond 3 kW No additional

CFA

4 Group Housing

₹18,000 per kW

Societies/ Residential Welfare Associations (GHS/RWA) etc., for common facilities, including EV Charging, up to 500 kW (@3 kW per house), with the upper limit being inclusive of individual rooftop plants installed by individual residents in the GHS/RWA

Cost to Customer • Attractive subsidies till 3 kW • Program beneficial for developers also as

the process requires front ending of payment by customer to vendor

Easy Process • Feasibility check by DISCOM - simple

requirements and online process

• Short inspection & disbursement timelines • National Portal for simplification of registration process (link). 1.45Cr registrations done

Finance Cost • Cheap loans at ROI of ~7% • PSU banks given disbursal targets • Push to lenders from the GOI & RBI

Awareness • Central government - leading the campaign • Vendors offline campaigns • Awareness programs

Program re- designed to simplify, fast track implementation and lower the cost of ownership

Tata Power is the market leader in Solar Rooftop EPC

Rooftop Solar has grown at 17% CAGR in the past 4 years (in MW)

India has 14.5GW of installed solar rooftop capacity (In MW)

Tata Power has 13.1% market share in Solar Rooftop EPC Market Size = 2,855 MW in CY23

2,855

2,640

2,196

731

1,085

7,619

3,669

3,196

Residential

Commercial

Industrial

1,659

1,381

Split by Business Model

Total Installed Capacity (In MW)

1,534

180

965

389

2019

1,351

358

659

334

2020

746

1,039

411

2021

Commercial

Industrial

Residential

tatapower.com

Source:- Bridge to India tatapower.com

250

2022

389

2023

2,997

11,487

OPEX Model

CAPEX Model

81.6 Others

Tata Power

Roofsol

13.1

2.3 1.6

1.4 1.3

Mahindra Hartek

Orb

Notable Utility Scale FDRE/Hybrid Tenders won recently

SJVN 460MW* FDRE

NTPC 200MW* FDRE

MSEDCL 400MW* Hybrid PH IV

Tariff (₹/unit)

4.38

e-RA date

7 Nov 2023

Total capacity (MW)

1,317 MW

Tender type

Capacity sizing (x)

Execution timeline

FDRE

~3x

4.71

22 Mar 2024

585 MW

FDRE

~3x

3.60

16 Aug 2024

501 MW

Hybrid

~1.3x

2 years from date of PPA

LoA status

Received

*PPA Capacity Abbreviations:- FDRE:- Firm and Dispatchable Renewable Energy, e-RA:- Electronic Reverse Auction

Pumped Storage Hydro Plants (PSP)- Project Update

BHIVPURI PSP

Key Highlights

1,000 MW

Type Existing Off-stream

Upper Reservoir Thokarwadi ~348 MCM (million cubic meters)

Lower Reservoir New ~4.6 MCM

Daily Generation 8,000 MWhr

Tentative Capital Investment ₹ 5,666 Crores

Timeline Pre-Construction Activities: Started Completion: Aug-2028

tatapower.com

SHIRWATA PSP

Key Highlights

1,800 MW

Type Off-stream

Upper Reservoir New -15 MCM

Lower Reservoir Existing Shirwata Dam 197 MCM

Daily Generation 10,800 MWhr

Tentative Capital Investment ₹7,850 Crores

Timeline Construction to begin: Mid-2025 Completion: End-2029

MoU with Druk Green Power to develop 5,100 MW clean energy projects in Bhutan

15 GW

Bhutan’s vision 2040 for hydro

5 GW

Bhutan’s vision 2040 for solar

740 MW

2.4 GW

Total installed capacity in Bhutan

126 MW

2.8 GW

Projects under execution

10.9 GW

Proposed projects

Plant name

Khorlochhu HPP

Dorjilung HPP

Gongri HPP

Jeri Pumped Storage

Chamkharchhu-IV HPP

Solar project

Total

364 MW

1,125 MW

600 MW

Bhutan

Chamkharchhu IV HPP

Dorjilung HPP

Khorlochhu HPP

Existing hydro station

Proposed Hydro Power Plants (HPP)

Potential Plants (HPP/ PSP)

Dagachhu HPP

Gongri HPP

Jerichhu PSP

1,800 MW

Installed capacity (MW)

Design energy (GWh)

Project status

600

1,125

740

1,800

364

500

5,129

2,524

4,504

2,721

3,942

1,501

15,192

Construction started

Technical due diligence started

DPR in progress

PFS (2015)

Construction has begun at the ₹6,900 Cr Khorlochhu HPP that is expected to be commissioned in Sept 2029

Khorlochhu hydro power project details

600 MW Total project capacity

1.12% Aux power consumption

40% Tata Power Stake

>95% Availability

90.62% Average TG efficiency

48% Plant load factor

752.20 M Minimum head

Double circuit 400 KV line to Goling through Yangbari s/s Proposed power evacuation

145 Km Transmission line (to be constructed by Bhutan Power corporation)

Vertical Pelton @ 375 RPM Type of turbine

Construction commenced

October 2024

59 Months

Project completion period

September 2029

Project expected to commission

2/3rd of transmission projects are expected to commission in CY25

Project

Tata Power stake

Under construction

Capex

Date of commissioning

Revenue

100%

377 Ckt Kms

₹2,500 Cr

December, 2027

₹290 Cr

2027

ERES XXXIX Transmission

2026

Paradeep Transmission

100%

384 Ckt Kms

₹2,300 Cr

November, 2026

Rajasthan Phase IV Part C

Jalpura Khurja Power Transmission Limited

Northern Region System Strengthening Scheme

2025

South East U. P. Power Transmission Company Limited

100%

26%

682 Ckt Kms

₹1,544 Cr

December, 2025

162 Ckt Kms

₹756 Cr

October, 2025

77 Ckt Kms

₹500 Cr

March, 2025

732 Ckt Kms

₹4,750 Cr

March, 2025

₹256 Cr

₹163 Cr

₹92 Cr

₹49 Cr

₹544 Cr

Operational & Financial Highlights

tatapower.com

Q3 FY25 Operational Highlights

Generation - Availability IN %

Plant Load or Capacity Utilization Factor IN %

AT&C Losses - Distribution IN %

100

8.7

8.1

8.2

5.7

5.6

5.1

0.5

-0.2

Thermal (excl. Mundra)

Mundra

MO Hydro

WIND

SOLAR

Thermal (excl. Mundra)

Q3 FY24

Q2 FY25

Q3 FY25

Mundra

MO Hydro

WIND

SOLAR

MO- Distribution

TPDDL

TPADL

tatapower.com

9M FY25 Operational Highlights

Generation - Availability IN %

Plant Load or Capacity Utilization Factor IN %

AT&C Losses - Distribution IN %

100

8.7

8.2

5.7

5.6

0.5

-0.2

Thermal (excl. Mundra)

Mundra

MO Hydro

WIND

SOLAR

Thermal (excl. Mundra)

YTD FY24

YTD FY25

Mundra

MO Hydro

WIND

SOLAR

MO- Distribution

TPDDL

TPADL

tatapower.com

Financial Highlights – Q3 FY25 (In ₹ Cr)

Posted Y-o-Y PAT growth for the 21st consecutive quarter

Revenue

Q3 FY25

Q2 FY25

Q3 FY24

1.9%

EBITDA*

7.1%

Underlying EBITDA (including share of JVs and Associates)

4.5%

15,118

15,247

14,841

Q3 FY25

Q2 FY25

Q3 FY24

-0.8%

3,481

3,808

3,250

Q3 FY25

Q2 FY25

Q3 FY24

-8.6%

3,668

4,043

-9.3%

3,509

*Reported EBITDA includes other income

PAT (before exceptional items)

10.4%

Reported PAT (after exceptional items)

10.4%

Receivables

Q3 FY25

Q2 FY25

Q3 FY24

tatapower.com

1,188

1,076

1,533

-22.5%

Q3 FY25

*Q2 FY25

Q3 FY24

1,188

1,093

1,076

8.7%

Q3 FY25

6,868

Q2 FY25

Q3 FY24

7,399

8,325

Financial Highlights – YTD FY25 (In ₹ Cr)

Robust fundamentals as core businesses reported highest ever EBITDA in 9M FY25

Revenue

4.2%

EBITDA*

13.9%

Underlying EBITDA (including share of JVs and Associates)

11.2%

YTD FY25

47,174

YTD FY25

10,639

YTD FY25

11,350

YTD FY24

45,286

YTD FY24

9,342

YTD FY24

10,203

*Reported EBITDA includes other income

Adjusted PAT (before exceptional items)

30.3%

Reported PAT (after exceptional items)

7.2%

Net Debt

YTD FY25

3,909

YTD FY25

3,469

YTD FY25

44,706

YTD FY24

3,000

YTD FY24

3,235

YTD FY24

38,599

tatapower.com

*Reported PAT of YTD FY25 includes exceptional loss of ₹440 cr. due to TPREL Merger.

Comfortable Debt Position For Sustainable Growth Net Debt (In ₹ Cr)

Net Debt has increased Q-o-Q due to higher capex requirements (In ₹ Cr)

Q3 FY25

Q2 FY25

Q3 FY24

44,706

43,580

38,599

Balance Sheet continues to be strong

YTDFY25

FY24

FY23

FY22

FY21

FY20

FY19

FY18

2.98

2.75

2.66

1.09

0.99

1.03

1.53

1.43

1.99

2.19

2.42

3.92

4.09

4.70

5.19

5.68

Net Debt to Equity

Net Debt to Underlying EBITDA *Based on Trailing twelve months

Q2 FY25 Net Debt

Cash from Operations

Income from JVs

Others

WC Changes

Interest payments & Dividend paid

Business as Usual Debt

Capex

Q3 FY25 Net Debt

Credit Rating* (Consolidated)

CRISIL India Ratings ICRA CARE S&P Global Moody’s

FY21

FY22

FY23

FY24

Current

AA /Stable AA /Stable AA- /Positive AA /Stable B+ /Positive Ba3 /Stable

AA /Stable AA /Stable AA /Stable AA /Stable BB /Stable Ba2 /Stable

AA /Stable AA /Positive AA /Stable AA+ /Stable AA /Stable AA /Positive AA /Stable AA /Positive BB+ /Stable BB+ /Stable Ba2 /Stable Ba1 /Stable

AA+/Stable AA+ /Stable AA+/Stable AA+/Stable BBB-/Positive Ba1 /Stable

*Credit Upgrades indicated by deepening shades of blue

tatapower.com

Annexures

tatapower.com tatapower.com

1 2 6 M W p F l o a t i n g S o l a r O m k a r e s h w a r , M a d h y a P r a d e s h

50 50

Entity-wise Consolidated Performance – Q3FY25

₹ Crore unless stated

Previous year numbers are restated for RE and Others including eliminations *TPCL stake-74%; **TPCL stake-51%; ***Tata Power currently owns 88.57% stake in Renewables (TPREL). # Eliminations include inter-company transactions; ^^ including other income

tatapower.com

51 51

ParticularsQ3 FY25Q3 FY24Q3 FY25Q3 FY24Q3 FY25Q3 FY24Consolidated before exceptional items15,118 14,841 3,481 3,250 1,188 1,076 Standalone & Key SubsidiariesTata Power (Standalone)5,409 5,063 1,877 1,503 978 527 Maithon Power (MPL) *640 845 147 182 73 81 Delhi Discom (TPDDL) **2,182 2,231 343 325 120 109 Power Trading (TPTCL)104 65 30 46 21 33 Solar EPC ***1,749 4,037 280 203 181 120 Renewable Generation (RE Gencos) ***827 737 744 611 28 38 TP Solar (4.3 GW Cell & module Manufacturing Plant)1,353 - 226 (10) 112 (10) Coal SPVs incl. TPIPL (Investment Companies)54 - (6) (7) (93) (96) TERPL (Shipping Co)194 253 73 76 45 39 TP Central Odisha Dist Ltd (TPCODL)**1,394 1,273 162 107 45 19 TP Southern Odisha Dist Ltd (TPSODL)**575 490 78 54 3 1 TP Western Odisha Dist Ltd (TPWODL)**1,616 1,761 108 94 0 17 TP Northern Odisha Dist Ltd (TPNODL)**1,004 871 151 109 38 26 Others516 207 29 26 (6) (4) TOTAL - A17,617 17,833 4,242 3,319 1,545 900 Joint Venture and Associates186 259 TOTAL - B17,617 17,833 4,242 3,319 1,731 1,159 Eliminations#(2,499) (2,993) (761) (68) (544) (83) Exceptional Items- - - - - - TOTAL - C15,118 14,841 3,481 3,250 1,188 1,076 Op IncomeEBITDA^^PATEntity-wise Consolidated Performance – YTD FY25

₹ Crore unless stated

52 52

tatapower.com

ParticularsYTD FY25YTD FY24YTD FY25YTD FY24YTD FY25YTD FY24Consolidated before exceptional items47,174 45,286 10,639 9,342 3,909 3,000 Standalone & Key SubsidiariesTata Power (Standalone)15,532 15,164 5,689 4,325 2,724 1,384 Maithon Power (MPL) *2,225 2,456 470 669 247 352 Delhi Discom (TPDDL) **8,532 7,976 1,503 987 704 332 Power Trading (TPTCL)370 215 107 86 73 61 Solar EPC***6,933 7,439 602 395 345 205 Renewable Generation (RE Gencos) ***2,788 2,579 2,525 2,237 440 418 TP Solar (4.3 GW Cell & module Manufacturing Plant)3,831 - 471 (22) 233 (21) Coal SPVs incl. TPIPL (Investment Companies)54 -(2) (24) (291) (315) TERPL (Shipping Co)744 645 243 235 153 139 TP Central Odisha Dist Ltd (TPCODL)**4,588 4,091 397 286 73 27 TP Southern Odisha Dist Ltd (TPSODL)**1,729 1,581 229 196 13 32 TP Western Odisha Dist Ltd (TPWODL)**5,023 5,175 281 288 (14) 67 TP Northern Odisha Dist Ltd (TPNODL)**3,220 2,850 406 321 93 91 Others1,059 661 75 56 (18) (9) TOTAL - A56,630 50,832 12,996 10,037 4,774 2,762 Joint Venture and Associates- - - - 711 861 TOTAL - B56,630 50,832 12,996 10,037 5,485 3,623 Eliminations#(9,455) (5,546) (2,357) (695) (1,576) (623) Exceptional Items- - - - (440) 235 TOTAL - C47,174 45,286 10,639 9,342 3,469 3,235 Op IncomeEBITDA^^PATCluster-wise Consolidated Performance – Q3 FY25

₹ Crore unless stated

Previous year numbers are restated for RE and Others including eliminations *TPCL stake-74%; **TPCL stake-51%; ***TPCL stake-20%;" Tata Power currently owns 88.57% stake in Renewables (TPREL). # Eliminations include inter-company transactions; ^^ including other income; ## Change in Tax rate in PY.

tatapower.com

53 53

ParticularsQ3 FY25Q3 FY24Q3 FY25Q3 FY24Q3 FY25Q3 FY24Consolidated before exceptional items15,118 14,841 3,481 3,250 1,188 1,076 Thermal Generation, Coal and Hydro4,925 4,958 1,170 884 764 456 Maithon Power Limited (MPL) *640 845 147 182 73 81 Traditional Generation (incl. Mumbai and Hydro) ##927 1,455 176 329 128 201 IEL *- - - - 21 20 PPGCL ***- - - - 21 15 Others (Incl. eliminations#) ##33 35 38 37 42 49 Mundra, Coal and Shipping ##3,325 2,623 809 335 480 89 Renewables "2,123 2,484 989 755 214 134 RE Gencos (Incl. CSL)827 737 744 611 28 38 Solar EPC 1,749 4,037 280 203 181 120 TP Solar (4.3 GW Cell & module Manufacturing Plant)1,353 - 226 (10) 112 (10) Others (Incl. eliminations#)(1,806) (2,290) (261) (49) (108) (14) T&D8,852 8,451 1,278 1,132 370 339 TransmissionMumbai329 296 239 213 71 70 Powerlinks **- - - - 10 11 Distribution and ServicesMumbai972 1,089 142 171 41 47 Odisha **4,589 4,396 498 364 86 63 Delhi **2,182 2,231 343 325 120 109 Others (T&D incl, TPADL**, TPTCL and eliminations#)781 439 55 59 42 39 Others (Incl. Tata Projects, Nelco and inter cluster eliminations#)(782) (1,052) 43 479 (161) 147 Consolidated before exceptional items15,118 14,841 3,481 3,250 1,188 1,076 Exceptional items- - - - - - Consolidated after exceptional items15,118 14,841 3,481 3,250 1,188 1,076 Op IncomeEBITDA^^PATCluster-wise Consolidated Performance – YTD FY25

₹ Crore unless stated

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ParticularsYTD FY25YTD FY24YTD FY25YTD FY24YTD FY25YTD FY24Consolidated before exceptional items47,174 45,286 10,639 9,342 3,909 3,000 Thermal Generation, Coal and Hydro14,451 14,758 3,110 2,991 1,957 1,826 Maithon Power Limited (MPL) *2,225 2,456 470 669 247 352 Traditional Generation (incl. Mumbai and Hydro) ##3,891 4,473 851 973 544 591 IEL *- - - - 67 70 PPGCL ***- - - - 64 47 Others (Incl. eliminations#) ##96 101 111 111 127 147 Mundra, Coal and Shipping ##8,238 7,728 1,679 1,238 908 619 Renewables "6,419 6,718 2,945 2,475 787 560 RE Gencos (Incl. CSL)2,788 2,579 2,525 2,237 440 418 Solar EPC6,933 7,439 602 395 345 205 TP Solar (4.3 GW Cell & module Manufacturing Plant)3,831 - 471 (22) 233 (21) Others (Incl. eliminations#)(7,132) (3,299) (653) (135) (231) (42) T&D29,533 27,181 4,152 3,312 1,384 1,023 TransmissionMumbai994 882 718 637 220 208 Powerlinks **- - - - 30 32 Distribution and ServicesMumbai3,359 3,329 469 476 150 153 Odisha **14,560 13,696 1,313 1,091 164 218 Delhi **8,532 7,976 1,503 987 704 332 Others (T&D incl, TPADL**, TPTCL and eliminations#)2,088 1,298 150 121 115 80 Others (Incl. Tata Projects, Nelco and inter cluster eliminations#)(3,229) (3,372) 432 564 (218) (409) Consolidated before exceptional items47,174 45,286 10,639 9,342 3,909 3,000 Exceptional items- - - - (440) 235 Consolidated after exceptional items47,174 45,286 10,639 9,342 3,469 3,235 Op IncomeEBITDA^^PATTata Power (Consolidated) Performance

₹ Crore unless stated

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ParticularsQ3 FY25Q3 FY24VarYTD FY25YTD FY24VarQuarter Variance RemarksOperating Income15,118 14,841 276 47,174 45,286 1,888 Higher PLF & regulatory upside in Mundra partially offset by loss of revenue in MO-G & lower execution of Solar EPC projects Operating Expenses12,038 12,234 196 37,698 37,150 (548) Operating Profit3,079 2,607 472 9,476 8,136 1,340 Other Income402 643 (241) 1,163 1,206 (43) PY includes dividend from ITPC of ₹416CrEBITDA3,481 3,250 231 10,639 9,342 1,297 Regulatory upside in Mundra Interest cost1,170 1,094 (76) 3,489 3,498 9 Increase in Net DebtDepreciation1,041 926 (115) 3,001 2,746 (254) Capitalization in T&D cluster, capacity addition in RE Gen Cos. & TP SolarPBT before share of Assoc & JVs1,271 1,230 41 4,149 3,099 1,050 Share of Associates & JV's results186 259 (73) 711 861 (150) Losses in Tata Projects compared to gain in the PYPBT after share of JV1,457 1,489 (32) 4,860 3,960 900 Tax Expenses269 413 144 951 960 9 Net Profit before exceptional items1,188 1,076 112 3,909 3,000 909 Exceptional Items (Net of Tax)- - - (440) 235 (675) Net Profit for the period *1,188 1,076 112 3,469 3,235 234 * As per line item 11 in the SEBI AdvTata Power (Standalone) Financial Performance

₹ Crore unless stated

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ParticularsQ3 FY25Q3 FY24VarYTD FY25YTD FY24VarQuarter Variance RemarksOperating Income 5,409 5,063 346 15,532 15,164 368 Higher PLF and regulatory upside in Mundra partially offset by unavailablility of Unit 5 in MO-G Operating Expenses 4,241 4,029 (212) 12,125 11,986 (139)Higher PLF in MundraOperating Profit 1,168 1,034 134 3,407 3,178 229 Other Income 709 469 239 2,282 1,147 1,135 Regulatory upside in Mundra and higher dividendEBITDA 1,877 1,503 374 5,689 4,325 1,364 Interest cost 512 533 21 1,586 1,719 133 Depreciation 306 284 (22) 897 861 36 PBT 1,059 685 374 3,206 1,746 1,460 Tax Expenses 81 158 77 483 362 (121)Lower deferred tax in Q3FY25PAT (before exceptional items)978 527 451 2,724 1,384 1,340 Exceptional items - - - - - - PAT for the period* 978 527 451 2,724 1,384 1,340 * Line no. 7 of advertisementMaithon Power Limited - Highlights

₹ Crore unless stated

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ParticularsQ3 FY25Q3 FY24VarYTD FY25YTD FY24VarQuarter Variance RemarksGeneration (MUs)1,5022,076(574)5,4746,125(651)Sales (MUs)1,4672,030(563)5,4016,068(667)Availability (%) (Plant)72%96%-24%89%95%-6%PLF (%)65%90%-25%79%88%-9%FinancialsOperating Income640 845 (205) 2,225 2,456 (231) Lower PLF and salesFuel Cost380 581 201 1,469 1,554 85 Lower PLF and salesOther operating expense118 90 (28) 297 249 (48) Operating profit142 175 (32) 459 652 (193) Other Income5 8 (3) 11 17 (6) EBITDA 147 182 (35) 470 669 (199) Interest cost22 26 4 69 85 16 Depreciation42 72 30 127 221 94 PBT83 85 (2) 274 364 (91) Tax10 4 (6) 26 12 (14) PAT73 81 (8) 247 352 (105) Prayagraj Power Generation Co. Ltd. - Highlights

₹ Crore unless stated

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ParticularsQ3 FY25Q3 FY24VarYTD FY25YTD FY24VarQuarter Variance RemarksGeneration (MUs)3,0173,131(114)9,7719,70071Sales (MUs)2,8452,947(102)9,2169,14274Availability (%)87%80%7%91%84%7%PLF % 69%72%-3%75%74%1%FinancialsOperating Income1,2081,245(37)3,8033,683120Lower PLF and salesOperating expenses902967652,8612,815(46)Lower PLF and salesOperating profit3062782894186774Other Income26233643628Higher investment Income EBITDA 332301311,005903102Interest cost178174(4)531517(14)Depreciation5050(0)152151(1)PAT105772832123685Tata Power Delhi Distribution Ltd. - Highlights

₹ Crore unless stated

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ParticularsQ3 FY25Q3 FY24VarYTD FY25YTD FY24VarQuarter Variance RemarksPurchase (MUs)2,4162,2281899,2598,449810Sales (MUs)2,2792,0961838,7397,947792Revenue Per Unit9.410.5(1.1)9.69.9(0.3)PPC Per Unit6.87.70.96.97.50.6AT&C losses (%)6%6%1%6%6%0%FinancialsOperating Income2,1822,231(49)8,5327,976556Higher sales offset by lower average realisations Power Purchase 1,6321,707746,4216,378(43)Lower power purchase costs Other Operating Exp.229209(20)659636(23)Operating Exp.1,8611,915547,0807,014(67)Operating Profit32131651,452962490Other Income22913512526Income from BD businessEBITDA343325171,503987516Interest cost5766918521328Depreciation10098(3)297291(6)PBT186162241,021482539Tax6653(13)317151(166)PAT12010911704332373Q3 FY25 Odisha Discoms – Highlights

₹ Crore unless stated

(* Excl. past arrears)

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ParticularsQ3 FY25Q3 FY24Q3 FY25Q3 FY24Q3 FY25Q3 FY24Q3 FY25Q3 FY24Purchase (MUs)2,6112,562 1,031 1,007 2,792 3,137 1,650 1,603 Sales (MUs)2,1472,043 798 717 2,362 2,607 1,457 1,344 Revenue per unit6.2 6.0 7.2 6.8 6.3 6.4 6.3 6.1 Power Cost per unit3.3 3.2 2.2 2.3 4.4 4.4 3.7 3.5 Actual Technical losses (%)17.8%20.3%22.6%28.8%15.4%16.9%11.7%16.2%Actual AT&C losses* (%) 13.9%14.8%21.3%25.3%14.9%11.4%8.7%9.4%Vesting order Target AT&C (%)23.7%22.0%26.0%26.0%20.0%19.0%19.2%19.2%Income from Operation1,394 1,273 575 490 1,616 1,761 1,004 871 EBITDA162 107 78 54 108 94 151 109 PAT45 19 3 1 0 17 38 26 TPCODLTPSODLTPWODLTPNODLYTD FY25 Odisha Discoms – Highlights

₹ Crore unless stated

(* Excl. past arrears)

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ParticularsYTD FY25YTD FY24YTD FY25YTD FY24YTD FY25YTD FY24YTD FY25YTD FY24Purchase (MUs)9,4298,854 3,479 3,305 8,980 9,508 5,736 5,449 Sales (MUs)7,5616,910 2,656 2,448 7,497 7,842 4,971 4,640 Revenue per unit5.8 5.7 6.5 6.5 6.2 6.2 6.1 5.8 Power Cost per unit3.4 3.3 2.2 2.3 4.4 4.4 3.7 3.6 Actual Technical losses (%)19.8%22.0%23.7%25.9%16.5%17.5%13.3%14.8%Actual AT&C losses* (%) 22.2%24.3%25.9%31.7%20.0%19.0%14.8%15.5%Vesting order Target AT&C (%)22.0%22.0%25.8%26.0%18.9%18.9%17.9%19.2%Income from Operation4,588 4,091 1,729 1,581 5,023 5,175 3,220 2,850 EBITDA397 286 229 196 281 288 406 321 PAT73 27 13 32 (14) 67 93 91 TPCODLTPSODLTPWODLTPNODL₹ Crore unless stated

RE Generation*

Previous year numbers are restated * All renewable generation companies including WREL (Walwhan) and CSL (Chirasthayee Solar Limited)

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ParticularsQ3 FY25Q3 FY24VarYTD FY25YTD FY24VarQuarter Variance RemarksCapacity - Total (MW)5,3754,2611,1145,3754,2611,114Capacity - Wind (MW)1,0301,019111,0301,01911Capacity - Solar (MW)4,3453,2421,1034,3453,2421,103Generation (MUs) 2,1941,7514437,2366,1061,130Sales (MUs)2,1351,7134227,0355,9481,087Avg PLF (%) - Solar20.3%21.1%-0.8%22.1%22.6%-0.5%Avg PLF (%) - Wind11.2%11.8%-0.6%21.5%22.3%-0.8%FinancialsOperating Income827737902,7882,579209Higher sales partially offset by lower PLF's for wind and solarOperating Expenses1651716510504(6)Operating profit661565962,2782,075203Other income83453724716285Interest income on ICDs to TP SolarEBITDA7446111332,5252,237288Interest cost393302(91)1,099959(140)Higher borrowings for capacity additionDepreciation298257(41)841760(81)RE asset addition of 1.1GW in the past yearPBT5352158451866Tax2514(11)144101(43)PAT2838(10)44041822Higher finance and depreciation cost partially offset by higher EBITDASolar EPC – Highlights

₹ Crore unless stated

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Particulars Q3 FY25 Q3 FY24 Var YTD FY25 YTD FY24 Var Quarter Variance RemarksOperating Income1,7494,037(2,288)6,9337,439(506)Operating expenses1,4973,8362,3396,3877,070683Operating profit25220250546369177Other income28226552729Government subsidy receivableEBITDA28020377602395207Margin16.0%5.0%8.7%5.3%Interest cost1424107470(4)Depreciation141624949(0)PBT25216389479277202Tax7042(28)13471(63)PAT18112061345205140Margin10.4%3.0%5.0%2.8%Renewables – Consolidated View

₹ Crore unless stated

Previous year numbers are restated

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Key Parameters - RenewablesQ3 FY25Q3 FY24YTD FY25YTD FY24Revenue2,123 2,484 6,419 6,718 EBITDA989 755 2,945 2,475 PAT (before exceptional items)214 134 787 560 Gross Debt26,986 17,588 26,986 17,588 Net Debt26,675 16,278 26,675 16,278 Net Worth13,221 12,826 13,221 12,826 Regulated - Equity And Assets

₹ Crore unless stated

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ParticularsQ3 FY25Q2 FY25Q1 FY25Q4 FY24Q3 FY24Regulated EquityMumbai Operation 4,927 4,913 4,935 4,914 4,673 Jojobera 551 551 551 554 548 Tata Power Delhi Distribution (100%) 2,052 2,035 2,018 2,008 1,961 TP Central Odisha Dist Ltd (100%) 719 695 705 705 590 TP Southern Odisha Dist Ltd (100%) 511 511 511 511 369 TP Western Odisha Dist Ltd (100%) 732 687 672 666 480 TP Northern Odisha Dist Ltd (100%) 564 564 564 564 398 Maithon Power Limited (100%) 1,643 1,684 1,684 1,670 1,673 Industrial Energy Limited (100%) 722 721 721 720 715 Powerlinks Transmission (100%) 468 468 468 468 468 Total 12,888 12,829 12,829 12,780 11,875 Regulated Assets (As per financial books)Mumbai Operation 3,631 3,922 4,073 4,242 3,797 Jojobera 38 39 34 30 76 Tata Power Delhi Distribution (100%) 4,516 4,711 5,063 5,321 5,532 TP Central Odisha Dist Ltd (100%) 40 (5) (64) 28 (96)TP Southern Odisha Dist Ltd (100%) 886 763 680 622 486 TP Western Odisha Dist Ltd (100%) (457) (544) 626 (716) (969)TP Northern Odisha Dist Ltd (100%) 191 160 119 82 (22)Maithon Power Limited (100%) (332) (311) (291) (273) (300)Total 8,514 8,736 10,240 9,336 8,505 Key Segments - Debt Profile

₹ Crore unless stated

Note: TPREL has successfully concluded the merger of 23 subsidiaries including WREL, TPSSL (Solar EPC business) and CSL in Q2FY25

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Q3 FY25Q2 FY25QoQQ3 FY24YoYTata Power (Standalone)16,935 17,542 (607) 20,296 (3,361) Maithon1,327 1,472 (145) 1,440 (113) Coal SPVs + TPIPL4,089 4,263 (174) 4,263 (174) TPREL & Subsidiaries (Excl. TPSSL & WREL)25,559 21,309 4,250 13,913 11,646 Capex for additional capacitiesTPREL-WREL- 2,911 (2,911) 3,206 (3,206) TPREL-Solar EPC- 288 (288) 469 (469) TP Solar1,427 1,079 348 - 1,427 TPDDL1,401 1,622 (221) 1,927 (526) Odisha DISCOMs3,866 3,420 446 2,471 1,395 Others232 86 146 114 118 Total Debt54,835 53,992 844 48,100 6,735 CompanyTotal Gross Debt (LT + ST)Quarterly movement RemarksTata power - Debt Profile

₹ Crore unless stated

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Q2 FY25Q3 FY24RupeeForexTotalTotalTotalLong term40,02985140,880 39,23234,652Short term3,7825044,286 5,6756,904Current Maturity of LT6,9362,7349,670 9,0856,543Total Debt54,835 53,992 48,099 Less: Cash & Cash Equivalents9,625 9,656 8,719 Less: Related Party Debt504 756 781 Net External Debt44,706 43,580 38,599 Networth41,010 39,721 37,016 Net Debt to Equity 1.09 1.10 1.04 ParticularsConsolidatedQ3 FY25What sets us apart

Deeply entrenched power company with history of more than 100 years

1910-1955

2007

•

1910: Incorporated as Tata Hydroelectric Power Supply Company 1915: 1st Hydro power generating station (40 MW) commissioned at Khopoli, followed by Bhivpuri (1922) and Bhira (1927)

•

• Completed acquisition of 30% stake in Indonesian Coal Mines: KPC Arutmin & Indo Coal for $1.15 Bn Tata Power - Mundra signed PPA with 5 states (Gujarat, Maharashtra, Punjab, Haryana & Rajasthan) Industrial Energy Limited (IEL), a JV formed between Tata Power (74%) and Tata Steel (26%) to meet power requirements for Tata Steel

•

1956-2000 •

1956-65: 3 units of 62.5 MW each and 4th thermal unit of 150 MW capacity at Trombay commissioned 1977: 150 MW pumped storage at Bhira upgraded 1984: 500 MW-5th Unit established at Trombay, to supply uninterrupted supply to Mumbai 1991: 1st Solar cell manufacturing capacity is set up by TPSSL in collaboration with BP Solar

•

2001-2005 •

•

2001: Commissioned first wind asset of 17 MW at Supa Maharashtra 2002: Took over distribution of Delhi, later renamed as TPDDL a JV between Tata Power (51%) and Delhi Government (49%) 2003: Entered a JV with PGCIL, to develop a 1,200 Km long transmission line to bring electricity from Bhutan to Delhi

2011 • Commissioned first solar asset of 3 MW at Mulshi, Maharashtra

• Unit 1 of 525 MW Maithon Power Limited (MPL) commissioned

2012-2013

• 2012: Commissioned 2nd unit of 525 MW in MPL • 2013: 5 units of 800 MW each at Mundra UMPP commissioned, the first super critical technology in India

• 2013: Acquired 26% share in the Indonesian coal mine BSSR for $ 152 Mn

2014-2015

• 2014: Entered into

agreement to sell 30% stake in Arutmin for $401 Mn

• 2015: Commissioned

the 126 MW Dagachhu Hydro Power Corporation in Bhutan

2018-2019

2020

2024

• Resurgent Power Ventures acquired 75.01% equity stake of Prayagraj Power Generation Limited (PPGCL)

• Announced the sale of

South African JV Cennergi for $84 Mn • Won bid for the

installation of 105 MWp largest floating solar plant in Kayamkulam, Kerala

2016-2017 • 2016: Acquired 1,010MW operational RE assets of Welspun, renamed it to Walwhan Renewable Energy Ltd (WREL)

• 2016: Resurgent Power JV formed by Tata Power and ICICI Venture to acquire stressed assets in Indian Power Sector. Tata Power holds 26% stake in Resurgent Power

• 2017:Tata Power Ajmer

Distribution Limited (TPADL) formed to take over supply and distribution of Ajmer

• •

Sold 3 ships for $213 Mn Tata Sons infuse ₹2,600 Cr; raise promoter holding to 47% from 37%

• Completed sale of Defence business to Tata advanced Systems Ltd. for ₹1,076 Cr Took over the distribution in Central Odisha TPCODL formed as JV between Tata Power (51%) and Odisha Government (49%)

•

2021

Took over the distribution in North-Eastern Odisha, Western and Southern Odisha. TPNODL, TPWODL and TPSODL formed as JV between Tata Power (51%) and Odisha Government (49%)

2022 • Mundra (CGPL) amalgamated

•

into Tata Power Tata Power Renewable Energy Limited (TPREL) entered into an agreement to raise ~₹4,000 ($525 Mn) Cr by issuing shares to a consortium of Blackrock and Mubadala

• Resurgent announces

acquisition of 100% stake in NRSS XXXVI Transmission Ltd. and SEUPPTCL (Transmission Company)

•

TPREL received a Letter of Award (LOA) for developing a 585 MW Firm and Dispatchable Renewable Energy (FDRE) project with NTPC Limited Partnership with Bhutan’s Druk Green Power Corporation Ltd. to develop 5,100 MW of clean energy projects in Bhutan

• Won bids for Paradeep & Gopalpur Transmission Project of 761 Ckt km in Odisha

• Won MSEDCL Hybrid Project of 501 MW (400 MW PPA) with tariff of ₹3.6/unit TP Solar commissioned 4.3GW Module and 4.0GW Cell capacity

•

2023 • Received second tranche of

•

₹2,000 Cr from Blackrock and Mubadala Consortium TPREL Received LoA for 966 MW Hybrid RE Project from Tata Steel Signed MoU with Maha Govt. for development of 2.8 GW of Pumped Storage Project (PSP) 4.3 GW Cell & Module Plant achieved First Module Out (FMO)

• Won bids for Bikaner-Neemrana & Jalpura-Khurja transmission projects worth ₹2,300 Cr

Diversified business and hence stable margins

Tata Power Company Limited (TPCL) YTD FY25

Revenue (₹ Cr 47,174

EBITDA (₹ Cr ) 10,639

Net Debt (₹ Cr ) 44,706

PAT*** (₹ Cr ) 3,909

Thermal Generation, Coal & Hydro

Renewables^

Transmission and Distribution

Revenue (₹ Cr) 14,451

EBITDA (₹ Cr) 3,110

PAT (₹ Cr) 1,957 6,419

Revenue (₹ Cr)

EBITDA (₹ Cr) 2,945

PAT*** (₹ Cr) 787

Revenue (₹ Cr ) 29,533

EBITDA (₹ Cr ) 4,152

PAT (₹ Cr ) 1,384

Eliminations/ Others (Incl. corporate taxes, expenses and interest) Revenue (₹ Cr ) (3,229)

EBITDA (₹ Cr ) 432

PAT (₹ Cr ) (218)

CAPACITY

FUEL

STAKE

THERMAL

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

Coal 4,150 MW Coal/Gas 930 MW Coal 1,050 MW Coal 1,980 MW Coal 428 MW 120 MW WHRS 483 MW Coal/ WHRS Gas 108 MW Coal 54 MW

INDONESIA COAL MINES, SHIPPING & INFRA

MINE

Kaltim Prima (KPC) BSSR & AGM NTP (Coal Infra) TERPL (Coal Shipping)** HYDRO Bhira

Bhivpuri

Khopoli Dagachhu Itezhi Tezhi

Adjaristsqali UNDER CONSTRUCTION

Khorlochhu HPP Bhivpuri PSP

Shirwata PSP Dorjilung HPP

CAPACITY

60 MT 18 MT - -

CAPACITY 300 MW

75 MW

72 MW 126 MW 120 MW

187 MW

600 MW 1,000 MW

1,800 MW 1,125 MW

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

STAKE

30% 26% 30% 100% STAKE 100%

100%

100% 26% 50%

50%

40% 100%

100% -

RENEWABLES

Solar Power Wind Energy

UNDER CONSTRUCTION

Solar Power Hybrid

EV CHARGING POINTS

Public Home E-Bus

CAPACITY

4,350 MW 1,034 MW

788 MW^^ 4,729 MW

5,500 1,23,488 1,156

DISTRIBUTION LICENSE

CUSTOMERS

STAKE

Mumbai Tata Power Delhi (TPDDL) Odisha

0.78 Mn 2.08 Mn 9.56 Mn

DISTRIBUTION FRANCHISE

CUSTOMERS

Ajmer (TPADL)

0.17 Mn

POWER TRADING COMPANY

TPTCL

100% 51% 51%

STAKE

100%

STAKE

100%

ENTITY

Tata Projects Nelco Corporate

SOLAR EPC ORDER BOOK

TRANSMISSION

CIRCUIT KM

STAKE

PARTICULARS

CAPACITY/ ORDER BOOK

Utility Scale & Group Captive Solar EPC Rooftop EPC

₹13,556 Cr ₹827 Cr

SOLAR CELL AND MODULE CAPACITY

Module Cell UNDER CONSTRUCTION Cell

4,982 MW 4,530 MW

300MW

Mumbai Powerlinks SEUPPTCL NRSS XXXVI UNDER CONSTRUCTION SEUPPTCL NRSS XXXVI Jalpura Khurja Bikaner Neemrana Paradeep Transmission Gopalpur Transmission

1,291 2,328 789 225

732 77 162 682 384 377

100% 51% 26% 26%

26% 26% 100% 100% 100% 100%

BUSINESS MODEL EPC Communication

STAKE

31% 50%

*Resurgent owns 75% in Prayagraj | **TERPL is a wholly owned subsidiary of Tata Power International Pte Ltd., which is wholly owned by Tata Power | ***Adjusted PAT before Minority Interest and exceptional items | ^Tata Power currently owns 88.57% stake in Renewables (TPREL). ^^15 MW is for IEL

JVs and associates

Standalone divisions

Subsidiary 70

Thank You!

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I N V E S T O R R E L A T I O N S T E A M :

Mr. Soundararajan Kasturi Chief – Treasury & Investor Relations Email: kasturis@tatapower.com

Mr. Rajesh Lachhani Head – Investor Relations Email: rajesh.lachhani@tatapower.com

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