Adani Power Limited

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June 9, 2025 BSE Limited Floor 25, P J Towers, Dalal Street, Mumbai – 400 001 National Stock Exchange of India Limited Exchange Plaza, Bandra

73.97%

FIDENTIAL Adani Portfolio: A World Class Infrastructure & Utility Portfolio Flagship Incubator (73.97%) AEL Infrastructure & Utility Core Portfolio Energy & Utility Transport & Logistics (60.94%)

60.94%

(73.97%) AEL Infrastructure & Utility Core Portfolio Energy & Utility Transport & Logistics (60.94%) AGEL Renewables (69.94%) AESL T&D (74.96%) APL IPP (37.40%) ATGL2 Gas Discom (100%) (50.0

69.94%

ure & Utility Core Portfolio Energy & Utility Transport & Logistics (60.94%) AGEL Renewables (69.94%) AESL T&D (74.96%) APL IPP (37.40%) ATGL2 Gas Discom (100%) (50.00%) ANIL New Industries A

74.96%

ortfolio Energy & Utility Transport & Logistics (60.94%) AGEL Renewables (69.94%) AESL T&D (74.96%) APL IPP (37.40%) ATGL2 Gas Discom (100%) (50.00%) ANIL New Industries AdaniConneX3 Data Cen

37.40%

Utility Transport & Logistics (60.94%) AGEL Renewables (69.94%) AESL T&D (74.96%) APL IPP (37.40%) ATGL2 Gas Discom (100%) (50.00%) ANIL New Industries AdaniConneX3 Data Centre (65.89%) APSE

100%

ics (60.94%) AGEL Renewables (69.94%) AESL T&D (74.96%) APL IPP (37.40%) ATGL2 Gas Discom (100%) (50.00%) ANIL New Industries AdaniConneX3 Data Centre (65.89%) APSEZ Ports & Logistics (100%

50.00%

.94%) AGEL Renewables (69.94%) AESL T&D (74.96%) APL IPP (37.40%) ATGL2 Gas Discom (100%) (50.00%) ANIL New Industries AdaniConneX3 Data Centre (65.89%) APSEZ Ports & Logistics (100%) NQXT1

65.89%

IPP (37.40%) ATGL2 Gas Discom (100%) (50.00%) ANIL New Industries AdaniConneX3 Data Centre (65.89%) APSEZ Ports & Logistics (100%) NQXT1 (100%) AAHL Airports Other Specialty Primary Industry

67.53%

00%) NQXT1 (100%) AAHL Airports Other Specialty Primary Industry Materials, Metal & Mining (67.53%) Ambuja Cements4 (50.05%) (58.08%) (46.66%) ACC4 Sanghi4 Orient4 (100%) ARTL Roads (100%)

50.05%

irports Other Specialty Primary Industry Materials, Metal & Mining (67.53%) Ambuja Cements4 (50.05%) (58.08%) (46.66%) ACC4 Sanghi4 Orient4 (100%) ARTL Roads (100%) (64.71%) (30.42%) Coppe

58.08%

ther Specialty Primary Industry Materials, Metal & Mining (67.53%) Ambuja Cements4 (50.05%) (58.08%) (46.66%) ACC4 Sanghi4 Orient4 (100%) ARTL Roads (100%) (64.71%) (30.42%) Copper, Aluminu

Adani Portfolio

1

Adani Portfolio

Finance cost paid / Avg Gross Debt1 16.00% 10.00% 14.00% 12.00% 8.00% 6.00% Fx Risk Forex Rate USD/ INR3 4.00% 2.00% 0.00% 14.00% 12.00% 10.00% Rate Risk Indian G Sec 10 Years Yield4 US Treasury 10 Years Yield5 8.00% 6.00% 4.00% 2.00% 0.00% Duration Risk Avg Maturity (yrs)2 13.68% 10.28% 69.16 7.68% 2.88% 75.67 6.68% 1.83% 73.11 5.96% 0.87% 75.79 6.33% 1.59% FY19 FY20 FY21 FY22 0.5% GROSS DEBT CAGR (0.8%) LONG DEBT CAGR 36,814 6,653 30,161 42,255 7,705 34,550 42,515 8,675 33,840 41,573 6,692 34,881 1.20 1.00 0.80 0.60 0.40 0.20 0.00 90.00 80.00 70.00 60.00 50.00 40.00 30.00 20.00 10.00 0.00 82.17 83.41 7.32% 3.37% FY23 6.09 35,563 5,672 29,891 7.15% 4.08% FY24 8.03 34,316 6,397 27,919 85.48 6.83% 3.78% FY25 7.73 37,872 9,088 28,784 FY19 FY20 FY21 FY22 FY23 FY24 FY25 STD LTD Gross Debt Robust Capital Management planning reflected in elongated Debt duration while maintaining efficient cost of debt 1. 2. 3. 4. 5. Gross Debt excludes Ind AS adjustments & shareholder’s subordinated debt; ra