TATAPOWERNSE11 November 2025

Tata Power Company Limited has informed the Exchange about Investor Presentation

Tata Power Company Limited

TATA

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,

November 11, 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 the 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 half year ended September 30, 2025.

The above information is 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

TATA POWER The Tata Power Company Limited

Registered Office Bombay House 24 Homi Mody Street Mumbai 400 001

Tel 91 22 6665 8282 Fax 91 22 6665 8801

Web site : www.tatapower.com Email : tatapower@tatapower.com CIN : L28920MH1919PLC000S67

The Tata Power Company Limited

F I N A N C I A L R E S U L T S – Q 2 F Y 2 6

1 1 N o v e m b e r 2 0 2 5

il'ATA POWER 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 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

Sustainability: Manifesting a Greener Tomorrow

Industry Highlights

Business Highlights

42 Operational & Financial Highlights

48 Annexures

67 What sets us Apart

About Tata Power Company Limited (TPCL)

tatapower.com tatapower.com

TATA POWER

India’s largest vertically-integrated power company

Generation

New-age Energy Solutions

Generation

G TATA

~26.3 GW

~17.5 GW

~8.9 GW

Total Capacity (Operational + Under construction)

Clean & Green Energy (Including 10.4 GW Under Construction)

Thermal energy generation (Installed capacity)

Transmission

4,659 Ckm

Operational Transmission lines

2,426 Ckm

Transmission lines under construction

New-age Energy Solutions

Distribution

13 Mn

Customers in Distribution

Renewables

Transmission & Distribution

~4.9 GW

Integrated cell & module manufacturing capacity

2.8 GW

MoU signed for Pumped Hydro Project (PSP)

5,613

Public EV charging points energized across 620 cities and towns

TATA POWER Generation, Transmission and Distribution assets spread across India

G TATA

Total Capacity

26,326 MW (Operational + Under construction)

15,953 MW

Operational

10,373 MW

Under construction (Entirely Clean & Green)

Operational Capacity

8,860 MW Thermal

4,736 MW Solar

1,034 MW Wind

880 MW

Hydro

443 MW Waste Heat Recovery /BFG

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

Thermal

■

Clean and Green

■

44 44

■

Solar

■

Wind

■

Waste Heat/BFG

■

Hydro

Transmission and Distribution 13 Mn

4,659 Ckm

Customers in Distribution

Operational Transmission lines

2,426 Ckm

Transmission lines under construction

i --

Transmission assets

Distribution assets

Generation assets

TATA POWER

Assets located outside India

Georgia, Adjaristsqali

187 MW

Installed capacity

50%

TPCL stake

Zambia, Itezhi Tezhi (ITPC)

120 MW

Installed capacity

50%

TPCL stake

G TATA

Bhutan, Dorjilung 1,125 MW

Pipeline capacity

40%

TPCL stake

Bhutan, Khorlochhu

600 MW

40%

Under-construction

TPCL stake

Bhutan, Dagachhu

126 MW

26%

Installed capacity

TPCL stake

Indonesia Coal Mines

78 MT

Total Capacity

Hydro

Coal Mines

Thermal Power Plant

Under Construction Hydro Plant

PT Citra , Indonesia

54 MW

Installed capacity

30%

TPCL stake

*Operational and Financial numbers on a 100% basis.

Q2 FY26Q2 FY25Q2 FY26Q2 FY25Q2 FY26Q2 FY25Production 14.4 14.4 1.6 1.2 3.2 4.5Sales 14.6 14.3 1.6 1.2 3.5 4.3Q2 FY26Q2 FY25Q2 FY26Q2 FY25Q2 FY26Q2 FY25Revenue 878 1,064 55 54 134 181 EBITDA 45 63 11 14 23 36 PAT 20 42 2 8 10 23 KPCBSSRAGM*Operational Parameters (MT)*Financial Parameters (US$ m)KPCBSSRAGMCoal minesTata Power Share %Kaltim Prima Coal (KPC)30%Baramulti Suksessarana (BSSR)26%Antang Gunung Meratus (AGM)26%TATA POWER Financial performance consistently improving over the years

G TATA

Revenue (in ₹ Cr)

33,233

H1 FY26

FY 25

FY 24

FY 23

FY 22

FY 21

64,502

61,542

56,033

42,576

33,239

Reported PAT^ (in ₹ Cr)

2,508

H1 FY26

FY25

FY24

FY23

FY22 - FY21 -

4,775

4,280

3,810

2,156

1,439

EBITDA (in ₹ Cr)

7,961*

H1 FY26

FY25

FY24

FY23

FY22

FY21

14,468

12,701

10,068

8,192

7,978

ROE (%)

11.5%

H1 FY26

FY25

FY24

FY23

FY22

FY21

12.8

11.3

12.6

8.4

6.1

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

Underlying EBITDA (in ₹ Cr)

8,220**

H1 FY26

FY25

FY24

FY23

FY22

FY21

15,261

13,878

13,268

10,134

8,851

EPS (₹) ^^

6.2

H1 FY26

FY25

FY24

FY23

FY22 - FY21 -

13.5

11.0

10.4

5.4

3.2

TATA POWER

Clean & Green to account for ~66% capacity post project completions

TATA

Tata Power Capacity (IN MW)

880

443

724

15,953

4,211

835

8,860

2,176

1,725

-- - -

579

Current Operational Capacity share

3,049 26,326

(%)

2,800

16.0 GW

56%

26%

■

Thermal Solar Hydro Wind

■

Hybrid WHRS*

Thermal

Solar

Wind

Hydro

WHRS

Hybrid

Operational

Wind

Solar

Hydro

Complex / FDRE

PSP

Hybrid

Total capacity

Project Pipeline

tatapower.com

Total Capacity incl. pipeline (%)

8% 3%

34%

10%

11%

26.3 GW

14%

18%

*WHRS: Waste Heat Recovery System

■

Thermal

■

Solar

■

Hybrid

■

PSP

■

Hydro

■

Complex/FDRE

■

Wind

■

WHRS 9

Sustainability: At the core of all that we do

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

TATA POWER

Our sustainability aspirations

Become Net Zero by 2045

Become Water Neutral by 2030

Zero Waste to Landfill by 2030

No Net Loss to Biodiversity by 2030

G TATA

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

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

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. Train 7,000+ trainers in conservation education pedagogy

Gender Diversity : Improve Gender Diversity to 20% by 2028

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

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

E S G

TATA POWER Taking leaps towards our ESG goals

Parti cul ars

Des cri pti on

Ba s el i ne

Progres s

T arget

Val ue

Yea r

Val ue

Yea r

Va l ue

Year

Clean & Green portfolio

16%*

2015

44%

2025

70%

2030

Envi ronment

Net Zero (Absolute Carbon Emissions) Scope 1 and 2

Water consumption (Total Water Consumption)

41.5 Million Tonnes CO2e

2024

44.6 Million Tonnes CO2e

2025

313 Mn m3

2024

301 million m³

2025

Zero Waste to Landﬁll

40 Tonnes

2024

93 Tonnes

2025

Education

Employability & Employment

Entrepreneurship

26.25 Lakh Beneficiaries

2.76 Lakh Beneficiaries

30,000 Beneficiaries

2024

26.65 Lakh Beneficiaries

3 Lakh Beneficiaries

30,500 Beneficiaries

2025

28.5 Lakh Beneficiaries

3.76 Lakh Beneficiaries

35,000 Beneficiaries

Social

2045

2030

2028

Gender diversity (%)

10%

2024

10%

2025

20%

2028

G TATA

On goi ng a cti ons

• ~ 44% Clean and Green Capacity • ~ 66% Clean and Green Capacity, post project

completions

•

Incremental Scope 1 emissions increase is attributable to improved “Weighted-average PLF” of thermal portfolio

Improved waste-water utilisation

• Beneficial utilisation of Ash waste • Waste management plans for Biodegradable, Plastic and

E-waste

• CSR initiatives made a positive impact on 47.54 lakh lives directly benefitting across 21 Indian states during FY25. In Q2’FY26 21.90 lakhs beneficiaries covered • Special outreach made in 21 aspirational districts including the focus of PWDs, SC/ST • ₹ 38.11 crores CSR investments made across 100 neighbourhoods in Tata Power Group.

• Women employees across roles • 36% - Campus hires • 23 % - Finance and Accounting • 27 % - Digital and technology • 21 % - Women hires out of all hires • Policies supporting women in all life stages and mentorship program

Governance

DJSI Emerging Markets List (Absolute Score)

67/100

2023

2025

80/100

2027

• ESG Action Plan and gap analysis

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

TATA POWER

Achieving 100% Clean & Green power generation by 2045

G TATA

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

2025 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 Transition away from 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

Gradually improving our ESG ratings

G TATA

DISCLOSURE INSIGHT ACTION

CDP – Climate Change

DISCLOSURE INSIGHT ACTION

CDP – Water

S&PGlobal S&P - CSA (Higher score is better)

MSCl 8

MSCI

Sustainalytics (Lower score is better)

2025

2024

2023

2022

2021

2020

2019

B-

76*

BBB

39.4

37.4

38.5

41.2

38.6

As of 30th Sep 2025; Dates of published ratings: CDP – February 2025; S&P-CSA – November 2024; MSCI – April 2025; Sustainalytics – Sep 2025 * Early score announcement on 07th Oct 25. Except MSCI, all other ESG rating providers are not SEBI registered ERPs. The data disclosure is voluntary and for information only

Powering Biodiversity Conservation

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G TATA

Present across 5 Ecosystems

Biodiversity Action Plans for all sites

TNFD disclosures in Integrated Report

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, BNHS

TATA POWER

Empowering Communities

47.54 lakhs (FY25) Outreach Reaching out by Strengthening Community Institutions

21.90 lakhs FY26 (Q2 YTD)

110+

Districts in 21 states

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

PAY AUTENTION

-A dlffentnt m ind ls• glftad mind -

' 31~ 1«1 ) @HAAGA

TATA

Public Private Partnerships (Collaboration & Leverage)

Improving access & creating opportunities

Far Reaching Impact on Community and Co- ownership

Optimal Utilization of Resources

Green Jobs

Technology Enablement

Institutionalization & Standardization

Tree Mittra leveraged for social afforestation

TATAPO .E Key Programmes Footprint and Inclusion Focus

•T•

TATA

CSR footprint

r. •'

HIMACHAL PRADESH

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ODISHA

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Tata Power footprint

-■

Density areas

TP presence

lif '<?' t

, ~ KARNATAKA --=----

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21 Aspirational Districts

110+ Districts

21 States

~ ~

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TATAPO .E

Thought Leadership for Social Inclusivity

NGOs

Corporates

Clinical

facilities

Researchers

Government

Institutions

Parents and

Caregivers

Volunteers

• Pay Autention Bridgital Network, the toll-free helpline,

purple directory, and E-Sanidhya web platform promotes phygital support services and capability-building for neurodiverse individuals & care-givers; easing home-care & early diagnosis in India

• 18,000 families and caregivers in Maharashtra, NCR,

Odisha, Jharkhand, Tamil Nadu, Kerala, Andhra Pradesh, Karnataka via E-Sanidhya platform with NIEPID, MSJE- Govt. of India & Tata Elxsi; our tollfree helpline, home-care tutorials, dance-movement-play therapies & nutrition workshops, experiential immersions, street plays, fun-fairs, purple fests & Divya kala melas.

• Volunteers from over 12 Tata Group companies actively participate in awareness and skill-building initiatives.

• Working PwDs with for products hamper creation under Anokha Dhaaga, enabling PwD social -micro enterprises.

• Tata Affirmative Action ethos based special initiatives

ongoing with sanitation workers & other tribal women & farmers groups.

•T•

TATA

TATA POWER

Well-established structure to monitor Sustainability Goals

G TATA

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

TATA POWER

Robust Governance Structure in place

Audit Committee

[

Nomination and Remuneration Committee

Shareholders

Board of Directors

•

I I

[

Stakeholders Relationship 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

]

CSR & Sustainability Committee

✓ Policy for determining Material Subsidiaries

✓ Policy for determining Materiality for Disclosures

Risk Management Committee

✓ Remuneration Policy for Directors, Key Managerial Personnel

and Other Employees

✓ Charters of various Board appointed Committees and others

G TATA

Awards & Recognition TATA POWER

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Dl,.Fl!Rl!NT ... BUT NO Ll!SS API\.M9Y ANUPAM KHER

19'" July 2025

Audl6 PVR. Phoe nix Palladium. L ower Pere l. M umbai

P ay Autentl on lmmersive Exper ience Zone e t 10:00 AM

Scr eening s t a rts s harp at 10:3 0 AM

TATA

MAHATMA AWARD ~

...... ,,

.,,,,,. - -

Restore Award for Pay Autention - 2025

Inclusive screening of Tanvi The Great. Hosted by Tata Power in partnership with @anupamkherstudio and as part of #PayAutention

Mahatma Award 2025

ACEF Awards for Best Employee Engagement & Social Innovation- 2025

Secured consistent coverage for Affirmative action centered programs across platforms including Tata.com, Tata Review.

Industry Highlights

tatapower.com

TATA POWER

TATA

Power Demand increased 3.3% YoY in Q2 FY26 impacted by extended monsoons

India has one of the lowest power consumption per capita (IN KW H)

Ratio of Power Generation Growth to GDP growth above 1.0x in the past 5 years

Monthly Energy Demand (IN BUs)

Coal-based plants' PLF % (IN %)

1,400 units

India’s Power Consumption Per Capita

30,000

25,000

20,000

15,000

10,000

5,000

S U

y a w r o N

E A U

a d a n a C

i l

a r t s u A

a e r o K h t u o S

a i s s u R

n a p a J

a n h C

e c n a r F

l i z a r B

a d n

y n a m r e G

m o d g n K d e t i n U

Data represents per capita power consumption for CY24

Source: EMBER

tatapower.com

6.0%

1.01x

180

160

140

120

- -

14% ~

1.2x

1.1x

1.0x

- --- - --

- - - -

5.5%

4.8%

4.9%

0.9x

100

!d 11%

25%

20%

15%

85%

80%

75%

10%

70%

60%

-5%

55%

-10%

50%

4% 3% IO

3% ~ 'O

65%

:P , ~

~ 9%

7% ~

.- ~

-1% pd 0%

~ -5%

~ -4%

-2%

i. -5%

0.8x

0.7x

0.6x

0.5x

0.4x

0.91x

67%

66%

62%

55%

4 2 r p A

4 2 y a M

4 2 n u J

4 2

u J

4 2 g u A

4 2 p e S

4 2 t c O

4 2 v o N

4 2 c e D

5 2 n a J

5 2 b e F

5 2 r a M

5 2 r p A

5 2 y a M

5 2 n u J

5 2

u J

5 2 g u A

5 2 p e S

FY15 - FY25

FY20 - FY25

4 2 r p A

4 2 y a M

4 2 n u J

4 2

u J

4 2 g u A

4 2 p e S

4 2 t c O

4 2 v o N

4 2 c e D

5 2 n a J

5 2 b e F

5 2 r a M

5 2 r p A

5 2 y a M

5 2 n u J

5 2

u J

5 2 g u A

5 2 p e S

■ ■ -<>-

GDP Growth (CAGR)

Power Generation Growth (CAGR)

Power Gen growth: GDP growth (RHS)

■ -<>-

Energy Demand

YoY Growth [RHS]

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

Source: CEA

-<>- -<>-

Central Sector

State Sector

-<>- -<>-

All India

Private Sector

Source: NPP

TATA POWER

TATA

RE accounted for 83% of Capacity additions in India during H1FY26

Total Installed Capacity in India currently stands at 501 GW (IN GW)

~16 GW added in Q2FY26

(IN GW)

~33 GW added in H1FY26 (IN GW)

Renewables (incl. Hydro) added 27 GW in H1FY26 (IN %)

12 9

501 GW

245

127

s d n a s u o h T

10.0

9.0

8.0

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

0.7

0.6 0.0

1% 5%

0.1% 2%

23.9 21.7

54%

46%

45%

1.4 0.1

15.0

77%

80%

58%

66%

72%

3.3

5.9

4 2 Y F

4.1

0.8

3.7

5 2 Y F

3.1 0.1

2.4

5.1

6 2 Y F 1 H

13%

15%

13%

28%

31%

34%

9 1 Y F

0 2 Y F

1 2 Y F

6% 3% 8%

2 2 Y F

14%

1% 7%

3 2 Y F

13%

23%

4 2 Y F

12%

11%

5 2 Y F

15%

6 2 Y F 1 H

0.8

6.4

2.1 0.4

4.3

0 2 Y F

0.3 5.5

1.6 0.6

4.1

1 2 Y F

0.4 6.5

1.6 0.2 3.4

9 1 Y F

0.4

0.1

13.9 12.8

1.1 0.6 1.4

2 2 Y F

2.3 0.2 1.2

3 2 Y F

4 2

u J

4 2 g u A

4 2 p e S

4 2

t c O

4 2 v o N

4 2 c e D

5 2 n a J

5 2 b e F

5 2 r a M

5 2

r p A

5 2 y a M

5 2 n u J

5 2

u J

5 2 g u A

5 2 p e S

As on 30th Sept’2025 Excludes 7.2 GW of thermal/gas plant which are under long term outage

•

Thermal

•

Hydro (incl. small Hydro)

•

Wind

•

Solar

•

Nuclear

•

Other Renewable (Biomass, Waste to Energy)

Source: Central Electricity Authority & NPP

tatapower.com

TATA POWER

TATA

Cell & Module Prices Rebound from Lows; Indonesia Coal Moderates YoY

Price Movement of Polysilicon & Wafer

Price Movement* of Solar Cell & Module

Thermal Coal Prices (US$/t)

1 2 - p e S

2 2 - n a J

T 2 2 - y a M

r 2 2 - p e S

r 3 2 - n a J

T 3 2 - p e S

T 4 2 - n a J

T 4 2 - y a M

3 2 - y a M

4 2 - p e S

T 5 2 - n a J

T 5 2 - y a M

1.2

0.8

0.6

0.4

7.71

0.2

0.17 0

T 5 2 - p e S

0.3

0.25

0.2

0.15

0.1

0.05

0.09

0.04

1 2 - p e S

T 2 2 - n a J

T 2 2 - y a M

T 2 2 - p e S

T 3 2 - n a J

T 3 2 - y a M

T 3 2 - p e S

T 4 2 - n a J

T 4 2 - y a M

T 4 2 - p e S

T 5 2 - n a J

T 5 2 - y a M

5 2 - p e S

Polysilicon USD/kg

Wafer USD/piece [RHS]

Modules USD/Watt

Cell USD/Watt

500

450

400

350

300

250

200

150

100

104

1 2 - p e S

1 2 - c e D

2 2 - r a M

2 2 - n u J

2 2 - p e S

2 2 - c e D

3 2 - r a M

3 2 - n u J

3 2 - p e S

3 2 - c e D

4 2 - r a M

4 2 - n u J

4 2 - p e S

4 2 - c e D

5 2 - r a M

5 2 - n u J

5 2 - p e S

Indonesia Coal (6322kcal/kg)

Australian Coal (6300 kcal / kg)

Source: Bloomberg

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 being higher than imported tatapower.com

TATA POWER

H1 FY26 RE Auctions dominated with Storage bids

Minimum e-reverse auction tariff’s in H1 FY26 (₹/kWh)

Renewable energy auction volumes (GW)

G TATA

5.3

4.8

4.3

3.8

3.3

2.8

2.3

1.8

4.1

•· ......... ·• .. .. .. .. .. ··•. .. ..

3.3

3.6

2.8

3.3

2.7

3.3 3.3 •···········•·········· .. ····· =:,.,: 3.2 •· .... ,,.,.. . 2.7 .. ···········•· . . . . . . . . . . . . . . . . . . . . . . . . . . ... •...

. . . . . . . . . . ··•. . . . . . . . . . . . .. . . . . . . . . ... .

2.7 2.5

3.2

2.5

3.2

2.4

2.8

2.3

2.4

2.0

........

••

• •••• • 2.1

2.5

.... •·

•••••

4.8

4.4

3.8

.. .. . .......... ·• ... . ........ ···-

. ......•••

•·· ........... . . · .· .· .· ..· .... . . .. . ·· .. ·· . .. . .. .:,:: ..... . .................... ,.:· I ... .. , . 3.2 .. . ····· ..... .. 3.1 -· .. . .. . . . . . . . ...... . .. ·.-, ..... · ... •· 2.4 ······••••• 2.3

.. ·•· ..........•

3.4 3.2

2.6

2.7

3.6

3.6 3.4 3.4

FY19

FY20

FY21

FY22

FY23

FY24

FY25

H1FY26

··•··

Solar

··•··

Wind

··•··

Hybrid

··•··

Hybrid (with storage)/FDRE

··•··

Floating Solar

FY21

FY22

FY23

FY24

FY25

H1FY26

■

Solar

■

Wind

■

Storage

FDRE

■

Hybrid (S+W)*

■

Hybrid (S+ESS)**

■

Hybrid (S+W+ESS)***

*S+W = Solar + Wind **S+ESS = Solar + Energy storage solutions ***S+W+ESS = Solar + Wind + Energy storage solutions

TATA POWER

Transmission auction bids should continue to gain momentum in FY26

G TATA

₹9.2 tn transmission Capex anticipated in India between FY25-32E

Transmission auction bids expected to further rise in FY26 (IN ₹ Bn)

Intra-State, ₹2.7 tn

Inter-State, ₹6.6 tn

■

Inter-State Transmission System Intra-State Transmission System

FY26 Expected Bids

■

Transmission Auction (₹ bn)

Sr. No.

Key Highlights

Sept-25

2032E

212

4.96 Lakhs

6.48 Lakhs

100

■-------

FY18

FY20

FY23

FY22

FY17

FY19

FY16

FY21

148

105

1,382

2,342

Source:- NEP, Tata Power Estimates, ICICI Securities

229 GW

458 GW

120 GW

168 GW

Transmission line Length (CKm)

Transformation Capacity (GVA)

Peak Electricity Demand

Inter-regional transmission capacity

Source: National Electricity Plan (NEP) and CEA

1,577

1,759

301

506

132

FY24

FY25 H1 FY26

TATA POWER

India Distribution: On the mend but concerns remain

G TATA

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

3 6 1

1 5 1

RDSS and LPS have helped reduce DISCOM overdues (IN ₹ Cr)

1,05,330

1,02,780

83,716

59,127

25,016

26,242

20,353

19,167

FY19

FY20

FY21

FY22

FY23

FY24

FY25

Current

Source: PRAAPTI portal

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

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

Key challenges for State DISCOMs

■

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

Source: PFC Report FY25

Increased power purchase cost

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

Limitation on taking RE benefits

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

Business Highlights

tatapower.com

1 0 2 M W F l o a t i n g S o l a r P l a n t , K a y a m k u l a m , K e r e l a

TATA POWER

Q2 FY26: Key Highlights

TATA

Key Highlights

Rooftop revenue increased 158% in the quarter with closing order book of Rs 1,116 Crore

Odisha DISCOMS profit after tax surges 362% YoY

Tata Power achieves record 370 MWp installation of rooftop capacity in the quarter

Tata Power Renewable Energy Ltd signed contract with Suzlon Group for supply of 838 MW wind turbine generators

Odisha DISCOMs AT&C reduced by 1.7% YTD

Tata Power launches green energy skilling center in Delhi to build future ready workforce for India’s energy transition

928 MW of Cells and 970 MW of Modules produced in the quarter

Commissions 293 MW utility scale renewables capacity in the quarter

Khorlochhu HPP Bhutan has signed a term loan agreement worth Rs 4,829 crore with state-owned Power Finance Corporation

tatapower.com

TP Solar plant listed in ALMM II list and BNEF Tier 1 list for solar modules

TPREL secures 120 MWh Battery Energy Storage Purchase Agreement from NHPC Ltd for Kerala State Electricity Board Ltd

TATA TATA POWER Solar Cell and Module Manufacturing – Steep Ramp up, Realising Synergies

Module Production (MW)

Highlights

871

926

880

949

970

614

• Achieved levels manufacturing during Q2 FY26

record production in cell and module

• Revenue

from

plant increased 26% YoY in the Q2 FY26

the

• Q2 FY26 EBITDA and PAT increased more than two fold due to lower input cost and ramp up of the facility

•

Plant included in ALMM II list and list of modules

in BNEF Tier 1

Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26

Cell Production (MW)

904

928

651

195

Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26

tatapower.com

TATA POWER Solar Rooftop – Record Execution and Robust Pipeline

TATA

3rd Party Rooftop Order Book (In ₹ Cr)

Revenue of 3rd Party Rooftop (In ₹ Cr)

1,007

1,133

Q2 FY26

Q1 FY26

1,133

823

1,242

1,116

Q2 FY25

439

Order Book at the end of Q1FY26

Orders received in Q2

Q2 reported revenue

Order Book at the end of Q2FY26

907 MW orders won in H1 FY26

3rd PARTY ROOFTOP • Order Book at Q2 FY26 stands at ₹ 1,116 crore • 370 MWp Solar Rooftop installed in Q2 • Channel partner network crosses 644 partners

and more than 2,000 retailers

47%

53%

tatapower.com

■

Rooftop Residential

■

Rooftop C&I

Share of Residential Rooftop has increased significantly YoY

Revenue (In ₹ Cr)

536

301

1306

649

H1 FY25

H1 FY26

■

Residential Rooftop

■

Rooftop C&I

TATA POWER

Odisha Discoms – Highlights

TATA

AT&C Losses reduced by 1.7% vs prior period

STRONG OPERATIONAL PERFORMANCE ACROSS ALL DISCOMS

Smart Meters Installed till Date

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

T H E F T L O A D ( M W p )

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

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

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

Q 2 FY 26

Up t o Se p ’ 25

Q 2 FY 26

Up t o Se p ’ 25

Q 2 FY 26

Up t o Se p ’ 25

Q 2 FY 26

Up t o Se p ’ 25

H1 FY26

H1 FY25

H1 FY26

H1 FY25

24%

25%

28%

H1 FY26

H1 FY25

20%

22%

H1 FY26

15%

H1 FY25

17%

TPCODL

~5,50,678

TPSODL

~4,82,905

TPWODL

~6,07,444

TPNODL

~3,83,580

tatapower.com

538

0.78

13.89

260

374

0.59

11.94

177

481

0.60

9.87

465

0.55

10.31

244

485

313

471

161

730

TATA POWER Generation - Tata Power has Strong Pipeline of Hybrid/FDRE Projects

G TATA

Tariff (₹/unit)

e-RA date

Installed capacity (MW)

Tender type

Capacity sizing (x)

Expected Commissioning

LoA status

PPA status

*PPA Capacity

SJVN 460MW* FDRE •

4.38

• t •

• t • t i • t •

7 Nov 2023

1,317 MW

FDRE

~3x

FY 2027

Received

Signed

4.71

NTPC 200MW* FDRE • I T • i •

585 MW

22 Mar 2024

FDRE

~3x

FY 2027

• I • I • I •

Received

•

Signed

Abbreviations: FDRE- Firm and Dispatchable Renewable Energy, e-RA- Electronic Reverse Auction, LoA- Letter of Award Tata Power Mumbai DISCOM 80MW PPA was announced post quarter end

MSEDCL 400MW* PH IV Hybrid

3.60

16 Aug 2024

501 MW

Hybrid

~1.3x

FY 2026

Received

Signed

T 7 • I •

• I • I • • -+ •

SJVN RTC 88MW* Hybrid • I •

27 Feb 2025

4.91

•

• I • I • I • I •

272 MW

Hybrid

~3x

24 months post signing of PPA

Received

Pending

4.77

Tata Power Mumbai DISCOM 80 MW* • I l • i •

19 Aug 2025

244MW

FDRE

• ~ • ~ •

~3x

FY 2028

• ~ •

Received

Signed

TATA POWER

G TATA

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

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

2.8 GW

Projects under execution

10.9 GW

Proposed projects

Plant name

Installed capacity (MW)

Design energy (GWh)

Project status

Khorlochhu HPP

Dorjilung HPP

Gongri HPP

Jeri Pumped Storage

Chamkharchhu-IV HPP

Solar project

Total

600

1,125

740

1,800

364

500

5,129

2,524

4,504

2,721

3,942

1,501

15,192

Construction started

Pre-Construction has started

DPR in progress

PFS (2015)

TATA POWER

Construction has begun at 600 MW Khorlochhu HPP, Bhutan Signed loan agreement worth Rs 4,829 crore with Power Finance Corporation (PFC)

G TATA

Khorlochhu HPP site

Khorlochhu hydro power project details

600 MW Total project capacity

40% Tata Power Stake

90.62% Average TG efficiency

752 M Minimum head

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

1.12% Aux power consumption

>95% Availability

48% Plant load factor

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

Vertical Pelton @ 375 RPM Type of turbine

Tunnel work In progress

Construction commenced

October 2024

- - - - - - - - - - - - -<O

59 Months

Project completion period

- - - - - - - - - - - - '0

September 2029

Project expected to commission

TATA POWER

Groundbreaking Imminent – Dorjilung HPP Bhutan | 1,125 MW

Signed JV agreement with Druk Green Power Corporation Bhutan

Dorjilung Hydro Power Project

1,125 MW Total project capacity

Kurichhu River

40% Tata Power Stake

~4,750 MUs Design Energy

Run-of-River Type

80% Tata Power Off taker

World Bank Financial assistance to project

~6,350 Employment during construction

Second Largest Hydro Power in Bhutan Out of the Potential Feasible Sites

Expected commissioning in FY 2032

G TATA

TATA POWER

Energy Storage- Pumped Storage Hydro Plants - Project Update

TATA

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 Construction Activities: Started Completion: End-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: Nov-2025 Completion: End-2029

TATA POWER

G TATA

Transmission – Majority of the projects expected to be commissioned in FY 2026

Year

Project

Tata Power Stake

Transmission Line

Commissioning

FY 2028

FY 2027

FY 2026

Gopalpur Transmission Limited

Paradeep Transmission Limited

Bikaner Transmission Limited

Jalpura Khurja Power Transmission Limited

South East U. P. Power Transmission Company Limited

Northern Region System Strengthening Scheme

100%

377 Ckt Kms

FY 2028

100%

384 Ckt Kms

FY 2028

692 Ckt Kms

FY 2026

100%

164 Ckt Kms

FY 2026

26%

732 Ckt Kms

77 Ckt Kms

FY 2026

Cumulative capital expenditure of above projects envisaged to be more than Rs 12,000 crores

TATA POWER

T&D Business - Robust Financial Performance with continuous PAT growth

TATA

240

209

183

147

162

107

303

318

316

227

197

186

FY 21

FY 22

FY 23

FY 24

FY 25

H1 FY26

FY 21

FY 22

FY 23

FY 24

FY 25

H1 FY26

Mumbai Distribution

Mumbai Transmission

843

428

439

440

453

448

236

253

439

308

279

FY 21

FY 22

FY 23

FY 24

FY 25

H1 FY26

FY 22

FY 23

FY 24

FY 25

H1 FY26

tatapower.com

TPDDL (Delhi Distribution)

Odisha DISCOM’s

TATA POWER

Tata Power – EZ Charge

TATA POWER EZ CHARGE

tatapower.com

TATA

Cities and towns covered

Public and Captive Charging Points

641

653

5,488

5,613

555

541

430

3,778

1,128

FY22

FY23

FY24

FY25

H1 FY26

FY22

FY23

FY24

FY25

H1 FY26

Home Chargers

Bus Charge Points

1,71,509

1,36,777

1,238

86,086

38,899

FY23

FY24

FY25

H1 FY26

13,107

FY22

858

234

FY23

FY24

FY25

H1 FY26

The above-mentioned data is on cumulative basis

Operational & Financial Highlights

tatapower.com

TATA POWER

Q2 FY26 Operational Highlights

TATA

Generation - Availability IN %

Plant Load or Capacity Utilization Factor IN %

AT&C Losses - Distribution IN %

100

s n o i t a r e p o d e d n e p s u s

l i r a r o p m e 0 T

s n o i t a r e p o d e d n e p s u s

l i r a r o p m e 0 T

24.2

23.1

21.4

0.5

0.6

0.5

- -

8.1

5.1

6.9

4.5

5.5

7.4

I I II t t

Thermal (excl. Mundra)

Mundra

MO Hydro

WIND

SOLAR

Thermal (excl. Mundra)

MO Hydro

Mundra

Q2 FY26 Q1 FY26 Q2 FY25

•

d • o p

tatapower.com

WIND

SOLAR

MO- Distribution

TPDDL

TPADL

Odisha

TATA POWER

H1 FY26 Operational Highlights

TATA

Generation - Availability IN %

Plant Load or Capacity Utilization Factor IN %

AT&C Losses - Distribution IN %

100

23.1

21.4

1111 -- 11 II

0.5

5.5

6.9

8.1

5.1

0.5

MO Hydro

Thermal (excl. Mundra)

Mundra

tatapower.com

d H1 FY26 H1 FY25 ■ o p

tatapower.com

WIND

SOLAR

Thermal (excl. Mundra)

Mundra

MO Hydro

WIND

SOLAR

MO- Distribution

TPDDL

TPADL

Odisha

TATA POWER

Financial Highlights – Q2 FY26 (IN ₹ Cr)

Consistent PAT Growth

TATA

Revenue

3.4%

EBITDA*

Q2 FY26

Q1 FY26

Q2 FY25

15,769

17,464

15,247

-9.7%

Q2 FY26

Q1 FY26

Q2 FY25

5.9%

Underlying EBITDA (including share of JVs and Associates)

2.9%

4,032

3,930

3,808

2.6%

Q2 FY26

Q1 FY26

Q2 FY25

4,161

4,060

4,043

*Reported EBITDA includes other income

PAT (before exceptional items)

-18.8%

Reported PAT (after exceptional items)

13.9%

Receivables

1,245

1,262

1,533

-1.3%

Q2 FY26

Q1 FY26

Q2 FY25

1,245

1,262

1,093

-1.3%

Q2 FY26

Q1 FY26

Q2 FY25

8,496

8,382

7,399

Q2 FY26

Q1 FY26

Q2 FY25

tatapower.com

2.5%

TATA POWER

Financial Highlights – H1 FY26 (IN ₹ Cr)

Resilient Financial Performance

TATA

Revenue

H1 FY26

H1 FY25

3.7%

EBITDA*

11.2%

Underlying EBITDA (including share of JVs and Associates)

7.0%

33,233

H1 FY26

7,961

H1 FY26

8,220

32,057

H1 FY25

7,158

H1 FY25

7,682

*Reported EBITDA includes other income

PAT (before exceptional items)

-7.8%

Reported PAT (after exceptional items)

9.9%

Net Debt

H1 FY26

2,508

H1 FY25

2,721

H1 FY26

H1 FY25

2,508

H1 FY26

54,001

2,282

H1 FY25

43,580

tatapower.com

TATA POWER

Comfortable Debt Position For Sustainable Growth

TATA

Net Debt (IN ₹ Cr)

Q2 FY26

Q1 FY26

Q2 FY25

54,001

47,578

43,580

Net Debt has increased Q-o-Q due to higher capex and WC requirements

(IN ₹ Cr)

3,857

959

817

54,001

47,578

3,719

1,296

48,368

Balance Sheet continues to be strong

-3,497

-728

YTDFY26

FY25

FY24

FY23

FY22

FY21

FY20

FY19

FY18

1.21

1.05

[

0.99

1.03

3.28

2.93

2.75

2.66

1.53

1.43

1.99

2.19

]

2.42

3.92

4.09

4.70

5.19

5.68

Q1FY26 Net Debt

Cash From Operations

Income from JVs

WC Changes

Interest & others

Business as usual Debt

Capex

Dividend paid

Others

Q2FY26 Net Debt

■

Net Debt to Equity

■

Net Debt to Underlying EBITDA *Based on Trailing twelve months

tatapower.com

*Credit Upgrades indicated by deepening shades of blue

Credit Rating* (Consolidated)FY22FY23FY24FY25CurrentCRISILAA /StableAA /StableAA /PositiveAA+/StableAA+/StableIndia RatingsAA /StableAA /StableAA+ /StableAA+/StableAA+/StableICRAAA /StableAA /StableAA /PositiveAA+/StableAA+/StableCAREAA /StableAA /StableAA /PositiveAA+/StableAA+/StableS&P GlobalBB /StableBB+ /StableBB+ /StableBBB-/PositiveBBB/StableMoody’sBa2 /StableBa2 /StableBa1 /StableBa1 /PositiveBa1 /PositiveAnnexures

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

48 48

TATA POWER

₹ Crore unless stated

Entity-wise Consolidated Performance – Q2 FY26

TATA

*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

49 49

ParticularsQ2 FY26Q2 FY25Q2 FY26Q2 FY25Q2 FY26Q2 FY25Consolidated before exceptional items15,769 15,247 4,032 3,808 1,245 1,533 Standalone & Key SubsidiariesTata Power (Standalone)2,566 4,630 1,347 2,013 431 1,009 Maithon Power (MPL) *829 767 201 154 104 85 Delhi Discom (TPDDL) **3,147 3,105 562 582 314 297 Power Trading (TPTCL)150 160 30 39 21 27 Solar EPC ***2,667 3,013 301 242 210 144 Renewable Generation (RE Gencos) ***991 959 918 878 87 183 TP Solar (4.3 GW Cell & module Manufacturing Plant)1,772 1,410 466 131 240 66 Coal SPVs incl. TPIPL (Investment Companies)606 -10 (1) (70) (104) TERPL (Shipping Co)156 263 60 79 31 49 TP Central Odisha Dist Ltd (TPCODL)**1,670 1,555 168 133 37 26 TP Southern Odisha Dist Ltd (TPSODL)**643 567 148 73 42 2 TP Western Odisha Dist Ltd (TPWODL)**1,642 1,618 168 75 32 (18) TP Northern Odisha Dist Ltd (TPNODL)**1,243 1,075 203 131 64 28 Others832 809 56 66 4 23 TOTAL - A18,914 19,931 4,638 4,595 1,547 1,817 Joint Venture and Associates129 235 TOTAL - B18,914 19,931 4,638 4,595 1,676 2,052 Eliminations#(3,145) (4,684) (607) (787) (430) (519) Exceptional Items- - (440) TOTAL - C15,769 15,247 4,032 3,808 1,245 1,093 Op IncomeEBITDA^^PATTATA POWER

₹ Crore unless stated

Entity-wise Consolidated Performance – H1 FY26

TATA

*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

50 50

ParticularsH1 FY26H1 FY25H1 FY26H1 FY25H1 FY26H1 FY25Consolidated before exceptional items33,233 32,057 7,961 7,158 2,508 2,721 Standalone & Key SubsidiariesTata Power (Standalone)7,714 10,123 2,819 3,812 951 1,746 Maithon Power (MPL) *1,600 1,585 370 323 193 174 Delhi Discom (TPDDL) **5,547 6,323 894 1,160 448 584 Power Trading (TPTCL)250 265 54 77 38 52 Solar EPC***5,175 5,184 588 322 407 164 Renewable Generation (RE Gencos) ***2,127 1,961 1,952 1,781 313 412 TP Solar (4.3 GW Cell & module Manufacturing Plant)3,385 2,478 765 245 340 120 Coal SPVs incl. TPIPL (Investment Companies)1,888 -31 4 (135) (198) TERPL (Shipping Co)352 550 118 170 60 108 TP Central Odisha Dist Ltd (TPCODL)**3,369 3,194 291 235 39 28 TP Southern Odisha Dist Ltd (TPSODL)**1,279 1,154 286 152 78 10 TP Western Odisha Dist Ltd (TPWODL)**3,250 3,408 319 172 53 (14) TP Northern Odisha Dist Ltd (TPNODL)**2,465 2,216 375 256 109 55 Others1,574 604 112 48 14 (10) TOTAL - A39,974 39,045 8,974 8,756 2,910 3,230 Joint Venture and Associates- - - - 259 524 TOTAL - B39,974 39,045 8,974 8,756 3,169 3,755 Eliminations#(6,741) (6,988) (1,012) (1,598) (661) (1,034) Exceptional Items- - (440) TOTAL - C33,233 32,057 7,961 7,158 2,508 2,282 Op IncomeEBITDA^^PATTATA POWER

₹ Crore unless stated

Cluster-wise Consolidated Performance – Q2 FY26

TATA

*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;

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ParticularsQ2 FY26Q2 FY25Q2 FY26Q2 FY25Q2 FY26Q2 FY25Consolidated before exceptional items15,769 15,247 4,032 3,808 1,245 1,533 Thermal Generation, Coal and Hydro2,336 4,309 486 993 1 644 Maithon Power Limited (MPL) *829 767 201 154 104 85 Traditional Generation (incl. Mumbai and Hydro)1,291 1,402 255 287 169 171 IEL *- - - - 19 28 PPGCL ***- - 30 17 Others (Incl. eliminations#) 38 31 42 35 41 46 Mundra, Coal and Shipping177 2,110 (12) 516 (362) 297 Renewables "3,613 1,920 1,575 1,002 511 300 RE Gencos (Incl. CSL)991 959 918 878 87 183 Solar EPC 2,667 3,013 301 242 210 144 TP Solar (4.3 GW Cell & module Manufacturing Plant)1,772 1,410 466 131 240 66 Others (Incl. eliminations#)(1,817) (3,462) (110) (249) (26) (93) T&D10,936 10,208 1,679 1,440 677 501 TransmissionMumbai309 336 236 234 89 66 Powerlinks **- - - - 9 10 Distribution and ServicesMumbai1,129 1,146 120 162 52 52 Odisha **5,198 4,815 687 411 174 38 Delhi **3,147 3,105 562 582 314 297 Others (T&D incl, TPADL**, TPTCL and eliminations#)1,153 804 74 51 38 39 Others (Incl. Tata Projects, Nelco and inter cluster eliminations#)(1,116) (1,190) 291 373 56 87 Consolidated before exceptional items15,769 15,247 4,032 3,808 1,245 1,533 Exceptional items- - - - - (440) Consolidated after exceptional items15,769 15,247 4,032 3,808 1,245 1,093 EBITDA^^PATOp IncomeTATA POWER

₹ Crore unless stated

Cluster-wise Consolidated Performance – H1 FY26

TATA

*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;

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ParticularsH1 FY26H1 FY25H1 FY26H1 FY25H1 FY26H1 FY25Consolidated before exceptional items33,233 32,057 7,961 7,158 2,508 2,721 Thermal Generation, Coal and Hydro7,180 9,526 1,460 1,940 503 1,192 Maithon Power Limited (MPL) *1,600 1,585 370 323 193 174 Traditional Generation (incl. Mumbai and Hydro)2,557 2,965 516 674 352 416 IEL *- - - - 41 46 PPGCL ***- - 63 43 Others (Incl. eliminations#) 65 63 75 73 69 85 Mundra, Coal and Shipping 2,958 4,913 499 870 (215) 428 Renewables "7,239 4,297 3,142 1,956 1,042 573 RE Gencos (Incl. CSL)2,127 1,961 1,952 1,781 313 412 Solar EPC5,175 5,184 588 322 407 164 TP Solar (4.3 GW Cell & module Manufacturing Plant)3,385 2,478 765 245 340 120 Others (Incl. eliminations#)(3,447) (5,326) (163) (392) (19) (123) T&D21,014 20,681 3,024 2,874 1,117 1,013 TransmissionMumbai625 665 478 479 186 149 Powerlinks **- - - - 20 20 Distribution and ServicesMumbai2,307 2,387 250 326 107 109 Odisha **10,363 9,971 1,272 814 279 79 Delhi **5,547 6,323 894 1,160 448 584 Others (T&D incl, TPADL**, TPTCL and eliminations#)2,172 1,335 131 94 78 73 Others (Incl. Tata Projects, Nelco and inter cluster eliminations#)(2,199) (2,447) 335 388 (154) (57) Consolidated before exceptional items33,233 32,057 7,961 7,158 2,508 2,721 Exceptional items- - - - (440) Consolidated after exceptional items33,233 32,057 7,961 7,158 2,508 2,282 Op IncomeEBITDA^^PATTata Power (Consolidated) Performance

TATA

TATA POWER

₹ Crore unless stated

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ParticularsQ2 FY26Q2 FY25VarH1 FY26H1 FY25VarQuarter Variance RemarksOperating Income15,769 15,247 522 33,233 32,057 1,177 Operating Expenses12,243 11,953 (290) 26,139 25,660 (479) Operating Profit3,526 3,294 232 7,094 6,397 697 Other Income505 513 (8) 867 760 107 EBITDA4,032 3,808 224 7,961 7,158 804 Interest cost1,319 1,143 (176) 2,598 2,319 (279) Depreciation1,162 987 (175) 2,323 1,960 (363) PBT before share of Assoc & JVs1,551 1,678 (127) 3,041 2,879 162 Share of Associates & JV's results129 235 (106) 259 524 (266) Lower coal price realisation in coal companiesPBT after share of JV1,680 1,913 (233) 3,299 3,403 (104) Tax Expenses435 380 (54) 792 682 (110) Net Profit before exceptional items1,245 1,533 (287) 2,508 2,721 (214) Exceptional Items (Net of Tax)- (440) 440 - (440) 440 Net Profit for the period *1,245 1,093 152 2,508 2,282 226 Higher contribution from Odisha DISCOMs, Solar cells & module manufacturing and Rooftop business partly offset by Mundra plant shutdownTata Power (Standalone) Financial Performance

TATA

TATA POWER

₹ Crore unless stated

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ParticularsQ2 FY26Q2 FY25VarH1 FY26H1 FY25VarQuarter Variance RemarksOperating Income 2,566 4,630 (2,064) 7,714 10,123 (2,409)Mundra plant shutdown, lower PLF and efficiency gain in Mumbai Generation Operating Expenses 1,989 3,424 1,436 6,186 7,884 1,698 Operating Profit 577 1,206 (629) 1,528 2,239 (711)Other Income 770 808 (38) 1,291 1,573 (282)EBITDA 1,347 2,013 (666) 2,819 3,812 (993)Mundra plant shutdown and lower dividend income Interest cost 482 525 44 979 1,074 95 Depreciation 283 293 9 589 591 2 PBT 582 1,195 (613) 1,251 2,147 (896)Tax Expenses 151 187 36 300 402 102 PAT for the period 431 1,009 (578) 951 1,746 (794)TATA POWER

₹ Crore unless stated

Maithon Power Limited - Highlights

TATA

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ParticularsQ2 FY26Q2 FY25VarH1 FY26H1 FY25VarQuarter Variance RemarksGeneration (MUs)1,8761,904(28)3,7083,971(263)Sales (MUs)1,8691,892(23)3,6993,934(235)Availability (%) (Plant)96%93%3%95%96%-1%PLF (%)81%82%-1%80%86%-6%FinancialsOperating Income829 767 62 1,600 1,585 15 Fuel Cost539 527 (13) 1,056 1,089 34 Other operating expense92 89 (3) 180 180 (0) Operating profit198 151 47 365 316 48 Postive impact of FGD recoveryOther Income3 3 (0) 5 7 (2) EBITDA 201 154 46 370 323 47 Interest cost29 23 (6) 51 48 (3) Depreciation51 42 (9) 96 85 (11) PBT120 89 31 223 191 32 Tax16 4 (13) 30 17 (13) PAT104 85 19 193 174 20 TATA POWER

Prayagraj Power Generation Co. Ltd. - Highlights

TATA

₹ Crore unless stated

Figures shown above are on 100% basis

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ParticularsQ2 FY26Q2 FY25VarH1 FY26H1 FY25VarGeneration (MUs)3,3493,2061436,8746,754120Sales (MUs)3,1573,0171406,4846,371113Availability (%)96%92%4%98%93%5%PLF % 77%73%3%79%78%1%FinancialsPBT100(100)336(336)PAT1028715212217(5)Tata Power Delhi Distribution Ltd. - Highlights

TATA

TATA POWER

₹ Crore unless stated

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ParticularsQ2 FY26Q2 FY25VarH1 FY26H1 FY25VarQuarter Variance RemarksPurchase (MUs)3,5773,481976,8746,84331Sales (MUs)3,3853,294906,5006,46040Revenue Per Unit9.29.3(0.1)8.49.7(1.2)PPC Per Unit6.66.70.16.17.00.8AT&C losses (%)5.5%5.1%-0.4%5.5%5.1%-0.4%FinancialsOperating Income3,1473,105415,5476,323(776) Power Purchase 2,3702,325(45)4,2204,761541 Other Operating Exp.233217(16)452430(22)Operating Exp.2,6032,542(61)4,6725,192519Operating Profit544564(20)8741,131(257)Other Income181801929(9)EBITDA562582(20)8941,160(266)Interest cost4962139912929Depreciation10299(3)202196(6)PBT411422(10)592835(242)Positive impact of regulatory orderTax9712528144251106PAT31429717448584(136)TATA POWER

₹ Crore unless stated

Odisha Discoms – Highlights

(* Excl. past arrears)

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ParticularsQ2 FY26Q2 FY25Q2 FY26Q2 FY25Q2 FY26Q2 FY25Q2 FY26Q2 FY25Purchase (MUs)3,4103,196 1,2161,163 2,9462,867 2,1031,944 9,675 9,170 Sales (MUs)2,7812,554 952886 2,4992,385 1,8941,675 8,126 7,500 Revenue per unit5.7 5.9 6.7 6.4 5.8 6.3 6.2 6.0 Power Cost per unit3.4 3.4 2.1 2.2 4.1 4.4 3.8 3.7 Income from Operation1,670 1,555 643 567 1,642 1,618 1,243 1,075 5,198 4,815 EBITDA168 133 148 73 168 75 203 131 687 411 PAT37 26 42 2 32 (18) 64 28 174 38 ParticularsH1 FY26H1 FY25H1 FY26H1 FY25H1 FY26H1 FY25H1 FY26H1 FY25Purchase (MUs)6,9486,818 2,4642,449 5,9096,187 4,1994,086 19,520 19,540 Sales (MUs)5,6065,414 1,9211,857 4,9775,135 3,7383,513 16,242 15,919 Revenue per unit5.8 5.7 6.7 6.2 5.9 6.2 6.2 6.0 Power Cost per unit3.4 3.4 2.1 2.2 4.1 4.4 3.8 3.7 Actual Technical losses (%)19%21%22%24%16%17%11%14%Actual AT&C losses* (%) 24%25%28%27%20%22%15%17%Vesting order Target AT&C (%)18%22%27%26%19%19%16%18%Income from Operation3,369 3,194 1,279 1,154 3,250 3,408 2,465 2,216 10,363 9,971 EBITDA291 235 286 152 319 172 375 256 1,272 814 PAT39 28 78 10 53 (14) 109 55 279 79 Total Q2 FY26Total Q2 FY25Total H1 FY26Total H1 FY25TPCODLTPSODLTPWODLTPNODLTPSODLTPWODLTPNODLTPCODLTATA POWER

₹ Crore unless stated

RE Generation

TATA

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ParticularsQ2 FY26Q2 FY25VarH1 FY26H1 FY25VarQuarter Variance RemarksCapacity - Total (MW)5,7465,0297175,7465,028717Capacity - Wind (MW)1,0301,03001,0301,0300Capacity - Solar (MW)4,7153,9987174,7153,998717Generation (MUs) 2,5672,523445,5785,039539Sales (MUs)2,4942,448465,4224,898525Avg PLF (%) - Solar18.0%20.5%-2.5%21.1%23.1%-2.0%Avg PLF (%) - Wind30.4%31.6%-1.2%28.8%26.7%2.1%FinancialsOperating Income991959322,1271,961166Operating Expenses201163(38)387344(43)Operating profit791796(6)1,7391,617122Other income128824621316449EBITDA918878401,9521,781171Interest cost464355(109)874706(168)Higher borrowing for capacity additionDepreciation325280(45)640543(97)Capitalisation of RE assetsPBT129243(114)438531(93)Tax436018125120(5)Adjusted PAT87183(96)313412(99)Capacity addition offset by lower solar and wind resource TATA POWER

₹ Crore unless stated

Solar EPC* – Highlights

TATA

*Solar EPC division (erstwhile TPSSL) was merged into TPREL on 18 September 2024, with 1 April 2023 being the effective date

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ParticularsQ2 FY26 Q2 FY25 Var H1 FY26 H1 FY25 Var Quarter Variance RemarksOperating Income2,6673,013(692)5,1755,184(18) -Large projects & Group Captive1,5342,575(2,082)3,2194,346(2,255)Higher third party utility scale project execution -Solar Rooftop1,1334391,3881,9568372,238Record 370 MWp installation in Q2 FY26Operating expenses2,3672,7944274,5904,889299Operating profit30021981584294290Other income123(22)427(23)EBITDA30124259588322267 -Large projects & Group Captive134206(72)29924752 -Solar Rooftop1673613128974216Margin11.3%8.0%326 11.4%6.2%516 -Large projects & Group Captive8.7%8.0%72 9.3%5.7%361 -Solar Rooftop14.8%8.2%657 14.8%8.8%599 Interest cost3272486052Depreciation1514(0)31354PBT28320083549227322Tax7356(17)14263(78)PAT21014466407164244Margin7.9%4.8%309 7.9%3.2%472 TATA POWER

TP Solar (4.3GW Cell & Module Plant) – Highlights

TATA

₹ Crore unless stated

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Particulars Q2 FY26 Q2 FY25 Var H1 FY26 H1 FY25 Var Quarter Variance RemarksModule produced (MW)970879 91 1,9201,493 427Module sold (MW)1026918 108 19921,511 481Cell produced (MW)928- 928 1,832- 1,832FinancialsOperating Income1,7721,4103613,3852,478907Operating expenses1,3121,279(33)2,6332,233(400)Operating profit460131328752245507Other income60 6 130 13EBITDA466131334765245520Full ramp up of cell & module production linesMargin26%9%1,698 23%10%1,269 Finance cost10138(63)20271(131)Borrowing for capacity additionDepreciation7513(62)15229(123)Capitalisation of assetsPBT29080210411145266Tax5014(36)7125(46)PAT24066174340120220Margin14%5%10%5%TATA POWER

Renewables – Consolidated View

TATA

₹ Crore unless stated

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Key Parameters - RenewablesQ2 FY26Q2 FY25H1 FY26H1 FY25Revenue3,6131,920 7,2394,297 EBITDA1,5751,002 3,1421,956 PAT (before exceptional items)511300 1,042573 Gross Debt32,56325,587 32,56325,587 Net Debt30,34024,775 30,34024,775 Net Worth14,55613,041 14,55613,041 TATA POWER

₹ Crore unless stated

Regulated Equity

TATA

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ParticularsQ2 FY26Q1 FY26Q4 FY25Q3 FY25Q2 FY25Q1 FY25-Generation Mumbai Generation 1,736 1,736 1,425 1,717 1,718 1,738 Jojobera 551 551 551 551 551 551 Maithon Power Limited (100%) 1,665 1,665 1,643 1,643 1,684 1,684 Industrial Energy Limited (100%) 724 723 723 722 721 721 -Transmission Mumbai Transmission 2,226 2,221 2,206 2,111 2,103 2,108 Powerlinks Transmission (100%) 468 468 468 468 468 468 -Distribution Mumbai Distribution 1,161 1,152 1,147 1,099 1,092 1,089 Tata Power Delhi Distribution (100%) 2,099 2,083 2,070 2,052 2,035 2,018 TP Central Odisha Dist Ltd (100%) 863 854 849 719 695 705 TP Southern Odisha Dist Ltd (100%) 678 678 678 511 511 511 TP Western Odisha Dist Ltd (100%) 861 847 840 732 687 672 TP Northern Odisha Dist Ltd (100%) 720 720 720 564 564 564 Total 13,753 13,697 13,320 12,888 12,829 12,829 TATA POWER

₹ Crore unless stated

Regulated Assets

TATA

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ParticularsQ2 FY26Q1 FY26Q4 FY25Q3 FY25Q2 FY25Q1 FY25-Generation Mumbai Generation 1,340 779 834 714 694 711 Jojobera 38 33 32 38 39 34 Maithon Power Limited (100%) (192) (202) (326) (332) (311) (291)-Transmission Mumbai Transmission 1,553 1,637 1,711 1,534 1,455 1,361 -Distribution Mumbai Distribution 671 1,037 1,174 1,383 1,773 2,001 Tata Power Delhi Distribution (100%) 3,872 3,666 4,236 4,516 4,711 5,063 TP Central Odisha Dist Ltd (100%) 266 290 289 40 (5) (64) TP Southern Odisha Dist Ltd (100%) 1,351 1,244 1,138 886 763 680 TP Western Odisha Dist Ltd (100%) (135) 108 (139) (457) (544) 626 TP Northern Odisha Dist Ltd (100%) 479 416 326 191 160 119 Total 9,242 9,009 9,276 8,514 8,736 10,240 TATA POWER

Key Segments - Debt Profile

TATA

₹ Crore unless stated

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Q2 FY26Q1 FY26QoQTata Power (Standalone)20,211 16,965 3,246 Maithon1,591 1,426 165 Coal SPVs + TPIPL3,701 3,799 (98) RE Gencos27,890 26,571 1,319 TP Solar4,400 4,389 11 TPDDL1,044 1,199 (155) Odisha DISCOMs4,891 4,696 195 Others1,417 1,103 313 Total Gross Debt65,144 60,148 4,995 CompanyTotal Gross Debt (LT + ST)TATA POWER

Tata power - Debt Profile

TATA

₹ Crore unless stated

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66 66

Q1 FY26Q2 FY25RupeeForexTotalTotalTotalLong term45,9356,42552,360 48,730 39,232 Short term5,909- 5,909 2,602 5,675 Current Maturity of LT6,875- 6,875 8,816 9,085 Total Debt65,144 60,148 53,992 Less: Cash & Cash Equivalents11,143 12,367 9,656 Less: Related Party Debt- 203 756 Net External Debt54,001 47,578 43,580 Networth44,743 44,036 39,913 Net Debt to Equity 1.21 1.08 1.10 ParticularsConsolidatedQ2 FY26\

What sets us apart

Deeply entrenched power company with history of more than 100 years

1910-1955

•

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)

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

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

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

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

2007

•

• 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

•

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

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

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%)

2020

• •

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%)

2018-2019

• 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

•

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

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)

2025

•

Tata Power crosses 1GW of RE capacity addition in FY25 Tata Power marks major milestone with 1.5 Lakh+ Rooftop Solar Installations, ~ 3 GW Capacity; Expands Footprint across 700+ Cities

• All 4 cell lines ramped-up and

•

achieved First Cell Out (FCO) of TOPCon pilot cell line Tata Power crosses the milestone of ₹ 5,000 Cr of Adjusted PAT for the year in FY25 Khorlochhu HPP signed loan agreement worth Rs 4,829 crore with Power Finance Corporation

2024

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

•

TATA POWER

Diversified business and hence stable margins

G TATA

Tata Power Company Limited (TPCL) Q2FY26

Revenue (₹ Cr) 15,769

EBITDA (₹ Cr) 4,032

Net Debt (₹ Cr) 54,001

PAT*** (₹ Cr) 1,245

Thermal Generation, Coal & Hydro

Renewables^

Transmission and Distribution

Eliminations/ Others (Incl. corporate taxes, expenses and interest)

Revenue (₹ Cr) 2,336

THERMAL

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

PAT (₹ Cr) 1

EBITDA (₹ Cr) 486

---

CAPACITY

STAKE

FUEL

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

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

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

STAKE 30% 26% 30% 100%

STAKE 100%

100%

100% 26% 50% 50%

40% 100%

100% -

Revenue (₹ Cr) 3,613

EBITDA (₹ Cr) 1,575

PAT*** (₹ Cr) 511

Revenue (₹ Cr ) 10,936

EBITDA (₹ Cr ) 1,679

PAT (₹ Cr ) 677

Revenue (₹ Cr ) (1,116)

EBITDA (₹ Cr ) 291

PAT (₹ Cr ) 56

CAPACITY

4,736 MW 1,034 MW

579 MW 3,049 MW 45 MW 2176 MW

5,613 1,71,509 1,238

RENEWABLES

Solar Power Wind Energy

UNDER CONSTRUCTION

Solar Power Hybrid Wind Complex/FDRE

EV CUMMULATIVE CHARGING POINTS

Public Home E-Bus

SOLAR EPC ORDER BOOK

PARTICULARS

Utility Scale EPC-Third Party Rooftop EPC

SOLAR CELL AND MODULE CAPACITY

Module Cell

DISTRIBUTION LICENSE

CUSTOMERS

STAKE

Mumbai Tata Power Delhi (TPDDL) Odisha

0.80 Mn 2.15 Mn 9.89 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

BUSINESS MODEL EPC Communication

STAKE

23% 50%

EBITDA Margins

19%

18%

21%

22%

TRANSMISSION

CIRCUIT KM

STAKE

CAPACITY/ ORDER BOOK

₹1,880 Cr ₹1,116 Cr

4,900 MW 4,900 MW

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

1,317 2,328 789 225

732 77 164 692 384 377

100% 51% 26% 26%

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

21%

35%

42%

FY22

29%

32%

38%

30%

27%

36%

FY23 EBITDA Share

FY24

Thermal Generation, Coal & Hydro

29%

30%

38%

FY25

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

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Renewables

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Transmission & Distribution

■

Eliminations/Others

■

JVs and associates

Standalone divisions

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Subsidiary 69

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. Anshul Verdia Head – Investor Relations Email: anshul.verdia@tatapower.com

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