Vedanta : 27 Jul

VEDANTA LIMITED

INVESTOR PRESENTATION

28th July 2022

1QFY23 Earnings

Presentation

Cautionary statement and disclaimer

The views expressed here may contain information derived from publicly available sources that have not been independently verified.

No representation or warranty is made as to the accuracy, completeness, reasonableness or reliability of this information. Any forward-looking information in this presentation including, without limitation, any tables, charts and/or graphs, has been prepared on the basis of a number of assumptions which may prove to be incorrect. This presentation should not be relied upon as a recommendation or forecast by Vedanta Resources Limited and Vedanta Limited and any of their subsidiaries. Past performance of Vedanta Resources Limited and Vedanta Limited and any of their subsidiaries cannot be relied upon as a guide to future performance.

This presentation 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,' 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 environmental, climatic, natural, political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements. We caution you that reliance on any forward-looking statement involves risk and uncertainties, and that, although we believe that the assumption on which our forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statement based on those assumptions could be materially incorrect.

This presentation is not intended, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities in Vedanta Resources Limited and Vedanta Limited and any of their subsidiaries or undertakings or any other invitation or inducement to engage in investment activities, nor shall this presentation (or any part of it) nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.

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Vedanta Limited

1QFY23 Investor Presentation

VEDANTA LIMITED

INVESTOR PRESENTATION

1QFY23

1QFY23 Review and Business Update

Sunil Duggal

Group CEO & Chief Safety Officer

Commodity prices moderated on near-term macro volatility; Supply gap increase potential to support prices

Near term macro volatility

• Global economy is facing volatility amidst -

1. high inflation,

1. potential rate hikes,

1. slackening consumer confidence,

1. China's Zero-Covid policy led lockdowns, and

• 1. geo-politicalinstability
• Recent commodities' prices moderation is driven by near term macro volatility

Supply gap to increase in medium and long term

Europe's energy crisis led cost pressures, and easing lockdowns and stimulus in China to potentially support commodity prices in 2HCY22

Crude oil prices are expected to remain supported amidst supply concern

Global decarbonization focus to increase supply shortage, in medium and long term, with material intensive energy transition and new infrastructure demand

India's commodity demand growth remains driven

by continued relative resilience of its economy

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Vedanta Limited

1QFY23 Investor Presentation

Vedanta is uniquely positioned to deliver sustainable value

Robust financial profile with improving ROCE, increasing cash flow and a stronger balance sheet

Committed to ESG leadership in the natural resources sector

Disciplined capital allocation

framework with emphasis on superior and consistent shareholder returns

World-class natural resources powerhouse with low cost and long-life diversified asset base

		7	1		Well positioned to capitalize on India's
				growth and benefit through the cycles with
			uniquely	2	attractive commodity mix
6		positioned to
			deliver
		sustainable
	5		value	3	Proven track record of operational
				excellence with well invested assets
			4

Focused on digitalization and innovation

to drive efficiency and resilience

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Vedanta Limited

1QFY23 Investor Presentation