Vedanta Limited

13%

danta Limited reports record revenue and EBITDA for Q2 and H1FY26 Profit before exceptional jumps 13% YoY Mumbai, October 31, 2025: Vedanta Limited today announced its Unaudited Consolidated Results

₹39,218 crore

uarter and half year ended 30th September 2025. • Recorded highest ever second quarter Revenue at ₹39,218 crore, up 6% YoY • Achieved highest ever* second quarter EBITDA at ₹11,612 crore, up 12% YoY supported

6%

ar ended 30th September 2025. • Recorded highest ever second quarter Revenue at ₹39,218 crore, up 6% YoY • Achieved highest ever* second quarter EBITDA at ₹11,612 crore, up 12% YoY supported by ma

₹11,612 crore

ond quarter Revenue at ₹39,218 crore, up 6% YoY • Achieved highest ever* second quarter EBITDA at ₹11,612 crore, up 12% YoY supported by margin expansion of 69 bps to 34%† • PAT before exceptional jumps 13%

12%

e at ₹39,218 crore, up 6% YoY • Achieved highest ever* second quarter EBITDA at ₹11,612 crore, up 12% YoY supported by margin expansion of 69 bps to 34%† • PAT before exceptional jumps 13% YoY to ₹

69 bps

highest ever* second quarter EBITDA at ₹11,612 crore, up 12% YoY supported by margin expansion of 69 bps to 34%† • PAT before exceptional jumps 13% YoY to ₹5,026 crore • Net debt/ EBITDA stands at 1.3

34%

er* second quarter EBITDA at ₹11,612 crore, up 12% YoY supported by margin expansion of 69 bps to 34%† • PAT before exceptional jumps 13% YoY to ₹5,026 crore • Net debt/ EBITDA stands at 1.37x and

₹5,026 crore

% YoY supported by margin expansion of 69 bps to 34%† • PAT before exceptional jumps 13% YoY to ₹5,026 crore • Net debt/ EBITDA stands at 1.37x and credit rating is reaffirmed at AA • Capex of $0.9 Bn in

1.37x

bps to 34%† • PAT before exceptional jumps 13% YoY to ₹5,026 crore • Net debt/ EBITDA stands at 1.37x and credit rating is reaffirmed at AA • Capex of $0.9 Bn in H1 • 1st output from new BALCO smel

1.3 GW

1 • 1st output from new BALCO smelter & Lanjigarh Train II; Merchant Power capacity expanded by 1.3 GW Financial Highlights 2QFY26 and 1HFY26: o Highest ever first half Revenue at ₹ 76,652 crore, up

₹ 76,652 crore

expanded by 1.3 GW Financial Highlights 2QFY26 and 1HFY26: o Highest ever first half Revenue at ₹ 76,652 crore, up 6% YoY o Highest ever first half EBITDA at ₹ 22,358 crore, up 8% YoY o First half PAT befor

₹ 22,358 crore

Highest ever first half Revenue at ₹ 76,652 crore, up 6% YoY o Highest ever first half EBITDA at ₹ 22,358 crore, up 8% YoY o First half PAT before exceptional flat YoY at ₹9,483 crore, reported PAT at ₹7,936 c

“▪ VAB earned 19,261 Energy Saving Certificates (ESCerts) under PAT Cycle-7 (FY22–FY25), translating to a projected ₹4+ crore financial gain.”

“However, the FY26 Guidance remains unchanged as these costs were accounted for.”

“Growth: Gamsberg Phase 2 2Q FY25 1Q FY26 2Q FY26 1H FY25 1H FY26 ▪ Overall progress is at 82.4%.”

“104.9 93.2 89.3 2Q FY25 1Q FY26 2Q FY26 108.6 1H FY25 91.3 1H FY26 ▪ 2QFY26 production at 89 kboepd due to natural decline; partially offset by Infill drilling & well intervention measures.”

“2Q FY25 1Q FY26 2Q FY26 1H FY25 1H FY26 ▪ Unconventional: 1 well drilled.”

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

Key Highlights

3

Growth Projects

2

Notes

2

Investment Income

1

About Vedanta Limited

1

Registered Office

1

Other Highlights

1

Key highlights

1

Investment Income

o Investment Income is lower 3% YoY due to change in investment mix, and lower 10% QoQ due to higher interest on income tax refund in 1QFY26 ▪ Taxes: o ETR is 28% as compared to 26% in 1QFY25 ▪ Profit After Tax o PAT is ₹ 3,479 crore ▪ Leverage, liquidity, and credit rating: o Gross debt at ₹ 83,544 crore as on 30th September 2025 o Net debt at ₹ 62,063 crore as on 30th September 2025, implying Net debt to EBITDA ratio of ~ 1.37x o Cash and cash equivalents position remains strong at ₹ 21,481 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 Both ICRA and CRISIL have reaffirmed AA rating for Vedanta Limited ‡Excludes custom smelting at copper business & one-off gain in Q2FY26 Registered Office: Vedanta Limited 1st Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai 400093, Maharashtra, India. CIN: L13209MH1965PLC291394 Results for th

About Vedanta Limited

Vedanta Group is a global leader in critical minerals, energy transition metals, power, and technology, with operations spanning India, South Africa, Namibia, Liberia, UAE, Saudi Arabia, Korea, Taiwan, and Japan. As the world’s largest integrated producer of zinc, the fourth-largest global producer of silver, and one of the top producers of aluminium globally, Vedanta plays a pivotal role in the global supply of essential materials for the energy transition. The company is also India’s only private oil and gas producer and one of the largest private power producers. A global ESG champion, Vedanta is committed to achieving net-zero emissions by 2050 or sooner. Through its transformative social impact initiatives, the company has improved millions of lives in underserved regions. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange. For more information, please visit www.vedantalimited.com Vedanta Limited Vedanta, 75, Nehru Road, Vile Parle (East), Mumba

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

Key Highlights

▪ Highest ever Quarterly & Half-Yearly Metal Production at 617 kt (+1% YoY) & 1,222 kt (+1% YoY) respectively ▪ Best-ever Quarterly & Half-Yearly Alumina Production at 653 kt (+31% YoY) & 1,240 kt (+19% YoY) respectively ▪ Lowest Half-Yearly Power cost in the last 8 periods at 529 $/t ▪ Highest Margin in the last 14 Quarters at 943* $/t

Other Highlights

▪ BALCO achieved 1st Metal production from the new 525 kA facility ▪ 1st Alumina produced from Train II at Lanjigarh Vedanta Limited 2QFY26 Investor Presentation CoP: Cost of Production *Excluding a One-off Sensitivity: Internal (C3) 12 Zinc India Highest-ever 2Q and 1H mined metal production 0: 99: 168 ▪ Highest-ever 2Q and 1H mined metal production at 258 kt ▪ 5-year lowest 2Q and 1H zinc cost of production* of 116: 191: 69 237: 125: 49 109: 110: 113 and 523 kt, respectively ▪ 2Q refined metal production was 246 kt. It was 496 kt in 1H ▪ 2Q saleable silver production was 144 MT, lower in line with lead production. For 1H, it stood at 293 MT ▪ Silver drives c.40% of overall profit, uniquely positioned for riding the silver wave ▪ Included in Nifty 100 & Nifty Next 50 w.e.f. 30th Sep 2025 $994/MT (better 7% YoY) and $1,002/MT (better 8% YoY), respectively ▪ 160 Ktpa Roaster at Debari commissioned and Debottlenecking at Dariba Smelting Complex completed ▪ Board approved India’s 1st Zinc

Key Highlights

44 2Q FY25 38% increase y-o-y 117 6% increase q-o-q 57 60 81 1Q FY26 2Q FY26 1H FY25 1H FY26 Gamsberg CoP COP incl TcRc ($/T) 1,271 1,125 1,054 1,282 1,172 ▪ Highest ever quarterly rock mined at Gamsberg of 24MT ▪ 2QFY26 production jumps 38% YoY supported by 54% increase at Gamsberg ▪ 1HFY26 production higher by 44% YoY due to robust performance at Gamsberg which register 63% increase ▪ Gamsberg COP 1HFY26 down 8% YoY because of higher production, offset by higher TcRC and forex impact ▪ Higher treatment costs & exchange rate movements contributed to the elevated CoP. However, the FY26 Guidance remains unchanged as these costs were accounted for. Growth: Gamsberg Phase 2 2Q FY25 1Q FY26 2Q FY26 1H FY25 1H FY26 ▪ Overall progress is at 82.4%. Project completion targeted in 2HFY26. 14 Vedanta Limited 2QFY26 Investor Presentation VZI Sensitivity: Internal (C3) MIC: Metal in concentrate; COP: Cost of production with TcRc cost. Oil & Gas Investing strategically to sustain long-term value Gr