Ambuja Cements : Investor Presentation Q3 2022

Operational & Financial Highlights

For the Quarter Ended September 30, 2022

Content

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02

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Adani Group Profile

Adani Cement

Ambuja Cement - Performance Highlights

ACC - Performance Highlights

Adani ESG Framework

Adani Cement ESG Update

Appendix

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Adani Group Profile

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Adani Group: A World Class Infrastructure & Utility Portfolio

~USD 240 bn1 Combined Market Cap

FlagshipInfrastructure & Utility Core Portfolio

Incubator		Energy & Utility		Transport & Logistics
(72.3%)		(60.5%)	(73.9%)	(66.0%)	(100%)
AEL		AGEL		ATL		APSEZ		NQXT2
	Renewables		T&D		Ports & Logistics
		(37.4%)		(75.0%)
		ATGL		APL
		Gas Discom		IPP

(100%)	(50%)	(100%)	(100%)
ANIL		AdaniConneX4		AAHL		ARTL
New Industries		Data Centre		Airports		Roads

Primary Industry

Materials, Metal &

Mining

(63.2%)

Cement 5

(100%)

PVC

(100%)

Copper, Aluminum

(100%)

Mining Services & Commercial Mining

Emerging B2C

Direct to consumer

(44.0%)

AWL

Food FMCG

(100%)

ADL

Digital

(%): Promoter equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries

- Represents public traded listed verticals

A multi-decade story of high growth centered around infrastructure & utility core

1 . Combined market cap of all listed entities as on Sep 30, 2022, USD/INR - 81.55 | 2. NQXT: North Queensland Export Terminal | 3. ATGL: Adani Total Gas Ltd, JV with Total Energies | 4. Data center, JV with
EdgeConnex, AEL: Adani Enterprises Limited; APSEZ: Adani Ports and Special Economic Zone Limited; ATL: Adani Transmission Limited; T&D: Transmission & Distribution; APL: Adani Power Limited;
AGEL: Adani Green Energy Limited; AAHL: Adani Airport Holdings Limited; ARTL: Adani Roads Transport Limited; ANIL: Adani New Industries Limited; AWL: Adani Wilmar Limited; ADL: Adani Digital
Limited; IPP: Independent Power Producer | 5. Cement business includes 63.15% stake in Ambuja Cement which in turn owns 50.05% in ACC Limited. Adani directly owns 6.64% stake in ACC Limited.
Ambuja and ACC together have a capacity of 67.5 MTPA, which makes it the second largest cement manufacturer in India.	4

Adani Group: Decades long track record of industry best growth rates across sectors

Port Cargo Throughput (MMT)

12%

3x

4%

Industry

Renewable Capacity (GW)

132%

5x

25%

Industry

Transmission Network (ckm)

18%

3x

6%

Industry

CGD7 (GAs8 covered)

	36%
25%	1.4x
Industry

2014

972 MMT

113 MMT

2016

46 GW

0.3 GW

2016

320,000 ckm

6,950 ckm

2015

62 GAs

6 GAs

2022

1,320 MMT

312 MMT

2022

150 GW9

20.4 GW6

2022

456,716 ckm

18,795 ckm

2022

293 GAs

52 GAs

APSEZ	AGEL	ATL	ATGL
Highest Margin among	Worlds largest	Highest availability	India's Largest private
Peers globally	developer	among Peers	CGD business
EBITDA margin: 70%1,2	EBITDA margin: 92%1,4	EBITDA margin: 92%1,3,5	EBITDA margin: 41%10
Next best peer margin: 55%	Among the best in Industry	Next best peer margin: 89%	Among the best in industry

Transformative model driving scale, growth and free cashflow

Note: 1. Data for FY22; 2. Margin for ports business only, Excludes forex gains/losses; 3. EBITDA = PBT + Depreciation + Net Finance Costs - Other Income; 4. EBITDA Margin represents EBITDA earned from

power supply 5. Operating EBITDA margin of transmission business only, does not include distribution business. 6. Contracted & awarded capacity 7. CGD: City Gas distribution 8. GAs - Geographical Areas -

Including JV | Industry data is from market intelligence 9. This includes 17GW of renewable capacity where PPA has been signe d and the capacity is under various stages of implementation and 29GW of	5
capacity where PPA is yet to be signed' 10. Data for FY21