Vedanta Limited

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209MH1965PLC291394 Vedanta Limited Announces 3Q and 9M FY24-25 Results • Profit after tax jumps 70% YoY to ₹4,876 crore • Highest ever 3rd quarter EBITDA of ₹11,284 crore, + 30% YoY • Net debt/ E

₹4,876 crore

C291394 Vedanta Limited Announces 3Q and 9M FY24-25 Results • Profit after tax jumps 70% YoY to ₹4,876 crore • Highest ever 3rd quarter EBITDA of ₹11,284 crore, + 30% YoY • Net debt/ EBITDA at 1.4x (vs 1.

₹11,284 crore

5 Results • Profit after tax jumps 70% YoY to ₹4,876 crore • Highest ever 3rd quarter EBITDA of ₹11,284 crore, + 30% YoY • Net debt/ EBITDA at 1.4x (vs 1.7x in 3QFY24) • Shareholders & creditors meeting for

30%

fit after tax jumps 70% YoY to ₹4,876 crore • Highest ever 3rd quarter EBITDA of ₹11,284 crore, + 30% YoY • Net debt/ EBITDA at 1.4x (vs 1.7x in 3QFY24) • Shareholders & creditors meeting for demerg

1.4x

4,876 crore • Highest ever 3rd quarter EBITDA of ₹11,284 crore, + 30% YoY • Net debt/ EBITDA at 1.4x (vs 1.7x in 3QFY24) • Shareholders & creditors meeting for demerger on 18th February Mumbai, Jan

1.7x

re • Highest ever 3rd quarter EBITDA of ₹11,284 crore, + 30% YoY • Net debt/ EBITDA at 1.4x (vs 1.7x in 3QFY24) • Shareholders & creditors meeting for demerger on 18th February Mumbai, January 31,

₹ 38,526 crore

the Third Quarter ended 31st Dec 2024. 3QFY25 Financial Highlights: o Consolidated Revenue of ₹ 38,526 crore, up 4% QoQ and 10% YoY o Consolidated EBITDA of ₹ 11,284 crore, up 30% YoY and 9% QoQ; Margin1 at

4%

ended 31st Dec 2024. 3QFY25 Financial Highlights: o Consolidated Revenue of ₹ 38,526 crore, up 4% QoQ and 10% YoY o Consolidated EBITDA of ₹ 11,284 crore, up 30% YoY and 9% QoQ; Margin1 at 34% up

10%

Dec 2024. 3QFY25 Financial Highlights: o Consolidated Revenue of ₹ 38,526 crore, up 4% QoQ and 10% YoY o Consolidated EBITDA of ₹ 11,284 crore, up 30% YoY and 9% QoQ; Margin1 at 34% up 517 bps Y

₹ 11,284 crore

ights: o Consolidated Revenue of ₹ 38,526 crore, up 4% QoQ and 10% YoY o Consolidated EBITDA of ₹ 11,284 crore, up 30% YoY and 9% QoQ; Margin1 at 34% up 517 bps YoY o Profit after tax (before exceptional) a

9%

of ₹ 38,526 crore, up 4% QoQ and 10% YoY o Consolidated EBITDA of ₹ 11,284 crore, up 30% YoY and 9% QoQ; Margin1 at 34% up 517 bps YoY o Profit after tax (before exceptional) at ₹ 4,876 crore, up

34%

up 4% QoQ and 10% YoY o Consolidated EBITDA of ₹ 11,284 crore, up 30% YoY and 9% QoQ; Margin1 at 34% up 517 bps YoY o Profit after tax (before exceptional) at ₹ 4,876 crore, up 70% YoY and 9% QoQ

“Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, aims to spend Rs 5000 crore over the next five years on various social impact programs and its flagship project, Nand Ghar is setting up model anganwadis across India.”

“▪ Highest monthly zinc recovery achieved at Gamsberg 2Q FY25 3Q FY25 9M FY24 9M FY25 Gamsberg CoP (84.6%) in Dec’24.”

“Gamsberg Phase 2 41 3Q FY24 1,719 3Q FY24 2Q FY25 3Q FY25 9M FY24 9M FY25 ▪ Overall progress is at 63.4% ▪ Project completion targeted in 2HFY26 Vedanta Limited 3QFY25 Investor Presentation VZI Sensitivity: Internal (C3) MIC: Metal in concentrate; COP: Cost of production with TcRc cost.”

“3Q FY24 2Q FY25 3Q FY25 9M FY24 9M FY25 ▪ ASP Injection ongoing on Mangala well pads.”

“This presentation should not be relied upon as a recommendation or forecast by Vedanta Resources Limited and Vedanta Limited and any of their subsidiaries.”

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Key highlights

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Notes

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Investment Income

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About Vedanta Limited

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Registered Office

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Key Highlights

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Other Highlights

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Growth

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Growth Projects

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Investment Income

3QFY25 higher 9% QoQ and YoY due to change in investment mix and higher interest on income tax refund in 3QFY25 ▪ Taxes: Normalized ETR for 3QFY25 is 27% as compared to 30% in 3QFY24, mainly due to changes in profit mix and reduction in tax rate of a foreign subsidiary ▪ Profit After Tax: 3QFY25 Profit after tax at ₹ 4,876 crore, higher 9% QoQ and 70% YoY ▪ Leverage, liquidity, and credit rating: o Gross debt at ₹ 78,496 crore as on 31st Dec 2024 o Net debt at ₹ 57,358 crore as on 31st Dec 2024. Net debt to EBITDA ratio improved to 1.4x vs 1.7x in Dec 2023 o Cash and cash equivalents position remains strong at ₹21,138 crore. The Company follows a Board-approved investment policy and invests in high quality debt instruments with mutual funds, bonds, and fixed deposits with banks o o ICRA Ratings has maintained the ratings of Vedanta at ICRA AA in 3Q FY25 while continuing on Watch with Developing Implications In 3Q FY25, CRISIL Ratings assigned a rating of CRISIL AA while placing the rat

About Vedanta Limited

Vedanta Limited (“Vedanta”), a subsidiary of Vedanta Resources Limited, is one of the world’s leading natural resources, critical minerals, energy and technology companies spanning across India, South Africa, Namibia, Liberia, UAE, Saudi Arabia, Korea, Taiwan and Japan with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power & Glass Substrate and foraying into electronics and display glass manufacturing. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector, is committed to reducing carbon emissions to net zero by 2050 or sooner and aims to spend $5 billion over the next 10 years to accelerate this transition. Giving back is in the DNA of Vedanta, which is focused on enha

Registered Office

Regd. Office: 1st Floor, ‘C’ wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai – 400 093 CIN: L13209MH1965PLC291394 Disclaimer This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. The

Note

1. Excluding one-time cairn arbitration gain in 2QFY24 2. CSA: Corporate Sustainability Assessment EBITDA PAT Revenue +30% YoY +70% YoY +10% YoY ₹ 11,284 crore Record 3Q EBITDA, highest in last 11 quarters1 ₹ 4,876 crore ₹ 38,526 crore EBITDA Margin Production FCF (Pre-Capex) +517 bps YoY Improved from 29% to 34% YoY Highest in last 11 quarters1 Volume growth Aluminum: 613 kt (+2% YoY) Alumina: 505 kt (+7% YoY) ZI MIC: 46 kt (+12% YoY) +57% YoY ₹6,766 crore Net Debt/ EBITDA VRL Bonds Credit Rating 1.40x $3.1 bn refinanced in 4 months AA B+ Lowest in last 7 quarters, Improved from 1.70x to 1.40x YoY Significant reduction in Average coupon rate by 250 bps; Longer maturity upto FY34 CRISIL Upgraded VEDL rating from AA- FITCH & Moody Upgraded VRL Sensitivity: Internal (C3) 9M Highlights Performance driven by structural cost reduction initiatives and strategic actions focused on shareholder value unlocking EBITDA PAT (Pre – Exceptional) Revenue +40% YoY1 +151% YoY1 +9% YoY1 ₹ 31,924 crore A

Note

1. Excluding one-time cairn arbitration gain in 9MFY24 2. ZI: Zinc International Demerger ROCE Capital Structure On Track Meeting of shareholders & creditors scheduled in February c.24% Up ~170 bps YoY raised ~ $1.4bn Through India’s one of the largest QIP and HZL OFS Sensitivity: Internal (C3) Project Update BALCO doubles its RP Capacity Aluminium Business On track to produce 90% of Value Added Products Current Value Added Product Capacity increased to 68% VAP Capacity 68% 62% Leadership in Rolled Products With this expansion Vedanta Aluminium Business became the 2nd largest producer of Rolled Products by capacity in India with 100 KTPA of RP. There has also been an addition of 30 KTPA AlSi, and 50 KTPA Slab capacity. > > Dec 2024 Jan 2025 Sensitivity: Internal (C3) Business Performance 3QFY25 Sensitivity: Internal (C3) Aluminium Business Focused on profitable growth driven by end-to-end integration Aluminium Production (kt)

Key Highlights

+2% y-o-y 1,772 1,819 599 609 613 ▪ Highest ever quarterly & 9month metal Production at 613kt (+2% YoY) and 1,819kt (+3% YoY) respectively ▪ All-time best quarterly VAP & Domestic sales at 317kt (+16% YoY) & 302 kt (+29% YoY) respectively ▪ Lowest Hot Metal Cost (Ex-Alumina) at 896 $/t in the past 14 3Q FY24 2Q FY25 3Q FY25 9M FY24 9M FY25 Quarters Aluminium CoP & Margin ▪ Best ever Quarterly Net Effective premium (NEP) of 262$/t on COP ($/t) Margin ($/t) 1,735 1,734 1,878 1,825 1,776 578 827 867 869 459 3Q FY24 2Q FY25 3Q FY25 9M FY24 9M FY25 metal sale