Adani Enterprises : ANIL Presentation

Adani New Industries Limited (ANIL)

Sunidhi Investor Meet - Green Hydrogen Ecosystem

25 July 2022

CONTENTS

1 Adani Portfolio Overview

2 ANIL: Green Hydrogen Ecosystem

01

Adani Portfolio Overview

STRICTLY CONFIDENTIAL

Adani: A World Class Portfolio

~USD 171 bn1 Combined Market Cap

Flagship

Infrastructure & Utility Core Portfolio

Primary Industry

Emerging B2C

Incubator

(72.3%)

AEL

Energy & Utility

(60.5%)(73.9%)

AGEL		ATL
Renewables		T&D
(37.4%)		(75.0%)
ATGL		APL
Gas Discom		IPP

(100%)	(50%)
ANIL		AdaniConneX4
New Industries		Data Centre

Transport & Logistics

(65.6%)(100%)

APSEZNQXT2

Ports & Logistics

(100%)(100%)

AAHLARTL

AirportsRoads

Materials, Metal &

Mining

(100%)

Cement *

(100%)

PVC

(100%)

Copper, Aluminum

(100%)

Mining Services & Commercial Mining

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 May 31, 2022, USD/INR - 77.64 | 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

3

* Acquisition of Ambuja Cements Ltd and ACC Ltd for ~66MTPA of capacity is under regulatory approvals and with this acquisition, Adani is now India's second largest cement manufacturer

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

Port Cargo Throughput (MMT)

12%

3x

4%

Industry

2014	972 MMT	113 MMT
2022	1,320 MMT	312 MMT

Renewable Capacity (GW)

132%

5x

25%

Industry

2016	46 GW	0.3 GW
2022	150 GW9	20.3 GW6

Transmission Network (ckm)

18%

3x

6%

Industry

2016	320,000 ckm	6,950 ckm
2022	456,716 ckm	18,795 ckm

CGD7 (GAs8 covered)
	36%
25%	1.4x
Industry

2015	62 Gas	6 GAs
2022	293 GAs	52 GAs

APSEZ	AGEL	ATL	ATGL
Highest Margin among	Worlds largest	Highest availability	India's Largest private CGD
Peers globally	developer	among Peers	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 cap acity 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 signed and the capacity is under various stages of implementation and 29GW of capacity where PPA is yet to be signed' 10. Data for	4
FY21