Adani Power : AGM Presentation 2023

Adani Power Limited

Presentation to Shareholders

27th Annual General Meeting

19th July 2023

Disclaimer

Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking statements," including those relating to general business plans and strategy of Adani Power Limited ("APL") and its subsidiaries , associates, and joint ventures (combine together "Adani Thermal Power Group" or "The Group") their future outlook and growth prospects, and future developments in their businesses and their competitive and regulatory environment, and statements which contain words or phrases such as 'will', 'expected to', etc., or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in the country the business is. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of The Group's shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of The Group.

The Group, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation.

The Group assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. The Group may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of The Group.

This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it's should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom.

1

1

Power Sector Outlook

STRICTLY CONFIDENTIAL

India demand growth expected to increase at CAGR of 6.5% and Thermal (Coal) capacity to range between 250-260 GW till FY30

2,400

20th EPS

2,280

Actual

2,200

2,000				FY25 onwards, the new Capex cycle is		6.5%
			expected to drive the demand with
				increased Manufacturing share			1,797
1,800
1,600							1,511
1,400						1,375
				4.9% 1,213
1,200						Overall Demand is expected to be in
1,000				1,002		the range of 2280-2300 BUs with
					Peak demand from 335-340 GW
831
800
FY10	FY14	FY18	FY22	FY23	FY26	FY30

SN	Source	IC	Installed Capacity
Projections in 2030
	Capacity	As of	CEA Optimal Mix
	31 Mar'23	Report Projections
	(in GW)
1	Coal	211.9	252
2	Gas	24.8	24.8
3	Nuclear	6.8	15.5
4	Hydro	47	59.3a
5	Solar	66.8	292.6
6	Wind	42.6	99.9
7	Other RE	15.5	33
Total capacity	415.4	777
PSP		4.7	18.9
BESS		-	41.7

PSP: Pumped Storage Project; BESS: Battery Energy Storage System

	Source: CEA, Optimal Mix May 2023
3Source: NPP, CEA, CEA Optimal mix and NEP	a including hydro imports of 5.8 GW

2

Adani Power Limited (APL) At a Glance

STRICTLY CONFIDENTIAL