SHORT SELLER ALLE ATIONS – A BRIEF RESPONSE A. Disclosed, discredited and disproven allegations Disclosed, discredited and disproven allegations: Allegations no. 1, 2, 3, 27, 28, 29, 30, 31, 72, 73, 74, 75, 76, 77, 78, 79, 80 present no new findings and only dredge up allegations (in some cases from a decade ago) which have been judicially disproven and have also been disclosed by us to our investors and the regulators. 1/ (Allegation #1) autam Adani’s younger brother, Rajesh Adani, was accused by the Directorate of Revenue Intelligence (DRI) of playing a central role in a diamond trading import/export scheme around 2004-2005. He was subsequently arrested twice over allegations of customs tax evasion, forging import documentation and illegal coal imports. Given his history, why was he subsequently promoted to serve as Managing Director at the Adani Group? 2/ (Allegation #72) Adani has been subject to numerous allegations of fraud by the DRI and other government agencies. In the 2004-2006 diamond scandal investigation, the government alleged that Adani Exports Ltd (renamed Adani Enterprises) and related entities’ exports were x the total exports of all the other 34 firms in the industry group put together. How does Adani explain that sudden surge in trading volume? 3/ (Allegation #73) The diamond export investigation also demonstrated the role played by Vinod Adani and entities in the UAE, Singapore and Hong Kong that were used to facilitate the back-and- forth movement of money and product. How does Adani explain all the trading that took place with entities associated with Vinod Adani? 4/ (Allegation #2) autam Adani’s brother-in-law, Samir Vora, was accused by the DRI of being a ringleader of a diamond trading scam and of repeatedly making false statements to regulators. Given his history, why was he subsequently promoted to Executive Director of the critical Adani Australia division? Common Response - Each of the above matters are closed and dismissed in our favour. Further, these have been disclosed by us in the public domain and all our stakeholders are aware of the same. These have been cited solely in an attempt to further the narrative of lies. In this respect, please see the following: i. Prospectus issued by Adani Ports and Special Economic Zone Limited dated June 5, 2013 (page 181) ii. Offering circular dated July 28, 2016 for the USD 500 million Senior Secured Notes issued by Adani Transmission Limited (page 149) iii. Offering circular dated November 14, 2019 for the USD 500 million Senior Secured Notes issued by Adani Transmission Limited (page 179) iv. Offering circular dated January 26, 2021 for USD 500 million Senior Secured Notes issued by Adani Ports and Special Economic Zone Limited (page 214-215), v. Offering circular dated July 28, 2020 for USD 750 million Senior Secured Notes issued by Adani Ports and Special Economic Zone Limited (page 215), 27