November 2022 ESG Updates Adani ESG Universe

STRICTLY CONFIDENTIAL STRICTLY CONFIDENTIAL Adani Portfolio Overview 01 02 Adani Portfolio – ESG Framework and Credentials Adani Portfolio ESG Update 03 Contents

STRICTLY CONFIDENTIAL STRICTLY CONFIDENTIAL Adani Portfolio Overview 01

3 Adani: A World Class Infrastructure & Utility Portfolio ~USD 240 bn 1 Combined Market Cap 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 66 MTPA, which makes it the second largest cement manufacturer in India. ANIL New Industries AdaniConneX 4 Data Centre ( 100% ) (5 0% ) AAHL Airports ARTL Roads (10 0% ) (10 0% ) ( % ): Promoter equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries A multi - decade story of high growth centered around infrastructure & utility core Energy & Utility Transport & Logistics Infrastructure & Utility Core Portfolio AGEL Renewables ATL T&D ATGL Gas Discom APL IPP APSEZ Ports & Logistics NQXT 2 (60.5 % ) (73.9 % ) (37.4 % ) (75.0 % ) (66.0 % ) (100 % ) AWL Food FMCG ADL Digital (10 0% ) (44.0 % ) PVC Mining Services & Commercial Mining (100%) (100%) Copper, Aluminum (100%) Materials, Metal & Mining Cement 5 (63.2 % ) Primary Industry Direct to consumer Emerging B2C AEL (72.6 % ) Incubator Flagship - Represents public traded listed verticals

4 Adani Portfolio: Decades long track record of industry best growth with national footprint Note: 1. Data for FY22; 2. Margin for ports business only, Excludes forex gains/losses; 3. EBITDA = PBT + Depreciation + Net Fin ance 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. Secular growth with world leading efficiency APSEZ ATL AEL APL ATGL AGEL National footprint with deep coverage Growth 3x EBITDA 70% 1,2 Growth 5x EBITDA 92% 1,4 Growth 1.4x EBITDA 25% 1,3 Growth 3x EBITDA 92% 1,3,5 Utility 92% Transport 85% Consumers Served ~400 mn Core Portfolio

5 Adani Portfolio: Repeatable, robust & proven transformative model of investment 55% 31% 14% 6% 25% 6% 18% 8% 37% Activity Performance Operations Development Post Operations • Analysis & market intelligence • Viability analysis • Strategic value • Site acquisition • Concessions & regulatory agreements • Investment case development • Engineering & design • Sourcing & quality levels • Equity & debt funding at project • Life cycle O&M planning • Asset Management plan • Redesigning capital structure of asset s • Operational phase funding consistent with asset life Site Development Construction Operation Capital Mgmt Origination India’s Largest Commercial Port (at Mundra) Longest Private HVDC Line in Asia ( Mundra - Mohindergarh) 6 4 8 MW Ultra Mega Solar Power Plant (at Kamuthi, Tamil Nadu) Highest Margin among Peers Highest line availability Constructed and Commissioned in nine months March 2 0 1 6 March 20 22 Phase Energy Network Operation Center (ENOC) • First ever GMTN of USD 2 bn by an energy utility player in India - an SLB in line with COP 26 goals - at AEML • AGEL’s tied up “Diversified Growth Capital” with revolving facility of USD 1 . 35 bn - will fully fund its entire project pipeline • Issuance of 20 - & 10 - years dual tranche bond of USD 750 mn - APSEZ the only infrastructure company to do so • Green bond issuance of USD 750 mn establishes AGEL as India’s leading credit in the renewable sector Centralized continuous monitoring of plants across India on a single cloud based platform PSU P vt. Banks Bonds DII Global Int. Banks PSU – Capex LC O&M : Operations & Maintenance, HVDC : High voltage, direct current, PSU : Public Sector Undertaking (Public Banks in India), GMTN : Global Medium - Term Notes SLB : Sustainability Linked Bonds, AEML : Adani Electricity Mumbai Ltd. IG : Investment Grade, LC : Letter of Credit, DII : Domestic Institutional Investors, COP26 : 2021 United Nations Climate Change Conference; AGEL : Adani Green Energy Ltd.

6 Adani Portfolio: Women led social enterprises transforming & uplifting communities in remote locations Touching 3.7 million lives across 2,409 villages in 19 states Portfolio Delivery Partner Vanitha Krishi Karma Sena Agri Business – Running a kitchen garden project – “ SEVAH ” – Safe to Eat Vegetable for All Homes in Vizhinjam – Scientific and Organic farming APSEZ AAHL ATL MBUSS 1 FMCG – Manufacture nature’s prime masala, sanitary pads, phenyl, organic pesticide and fertilizer, packaged drinking water, dairy milk – Managed and run by women APSEZ AEL AWL 1 . MBUSS – Mahila Udyami Bahuddeshiy Sahakari Samiti Limited. This program was started by Adani Foundation in Surguja , presently it is led by Women (Ms. Anita – President, Ms. Vedmati – Vice President) 2. GAIMS – Gujarat Adani Institute of Medical Sciences Retail Vizmart Phulo Jhano – Marketplace for women Entrepreneurs’ products in Vizhinjam – Tailoring done by women in Godda and Surguja APSEZ APL AEL ATL FMCG & Retail GAIMS 2 Healthcare – 750 bed hospital – Serves local population in Bhuj for free – Houses medical college APSEZ APL Health Care Clean4u Services – Hi - tech cleaning for hospitals, flats, offices, water tanks, vehicle on digital platform in Vizhinjam – Led by Women – Ms. Sureja APSEZ ATL Services

STRICTLY CONFIDENTIAL STRICTLY CONFIDENTIAL Adani Portfolio – ESG Framework and Credentials 02

Robust ESG assurance framework 8 Guiding principle Policies ESG Assurance Commitment Vision To be a world class leader in businesses that enrich lives and contribute to nations in building infrastructure through sustainable value creation . Guiding principles UNGC SDG TCFD IBBI CDP SBTi GRI Standard BRSR DJSI • APSEZ – Carbon Neutral, Water Positive, ZWL, SUP Free, Zero Accident • ATL – Water Neutral, ZWL, SUP free, No Biodiversity Net Loss, Zero Accident • AGEL – Water Neutral, SUP free, No Biodiversity Net Loss, Zero Accident • ATGL – Zero Accident, Customer centricity • APL – SUP free, Zero Accident, No Biodiversity Net Loss, Natural resource conservation • AEL – Zero Accident, Natural resource conservation, Water neutral Our Commitment • Environment Policy • Energy and Emission Policy • Water Stewardship Policy • Biodiversity Policy • Climate Action • Affordable and clean energy • Clean water and sanitation • Responsible consumption • Biodiversity conservation • No poverty • Zero hunger • Good health and well being • Quality education • Decent work and economic growth • Industry, innovation & infrastructure Policy Structure Focus Area • Human Rights • Corporate Social Responsibility Policy • Occupational Health and Safety Policy • Board Diversity • Anti - corruption and anti - bribery • Related Party Transaction Policy E S G Policy and ESG Alignment framework backed by robust assurance program APSEZ: Adani Ports and Special Economic Zone Limited; ATL: Adani Transmission Limited; AGEL: Adani Green Energy Limited; ATGL: Adani Total Gas Limited; APL: Adani Power Limited; AEL : Adani Enterprises Limited; ZWL: Zero Waste to Landfills; SUP: Single - Use Plastics; UNGC: United Nations Global Compact; SDG: Sustainable Development Goals; SBTi: Science Based Targets; GRI: Global Reporting Initiative BRSR: Business Responsibility and Sustainability Report; DJSI: Dow Jones Sustainability Indices; TCFD: Task Force on Climate - Rel ated Financial Disclosures; IBBI: India Business and Biodiversity Initiatives

ESG credentials of Adani Portfolio companies 9 ` DJSI (2022 Score) CDP - CC (2021 Score) CDP - WS (2021 Score) Sustainalytics MSCI UNGC Participant 68 Result awaited 63 54 51 Result awaited B - D B D -- -- B C -- -- -- -- 12.4 (Low Risk) CCC CCC BBB BBB CCC A In Progress In Progress In Progress Ports and Logistics Power Transmission Renewables Total Gas Enterprises CDP 2022 results awaited. First time CDP submissions done by AEL and ATGL in 2022 * * 31.4 (High Risk) 32.7 (High Risk) 14.6 (Low Risk) 36.4 (High Risk) 24.6 (Medium Risk)

• Energy Management • Supporting low carbon economy • Carbon sequestration through nature - based solution • Improving carbon efficiency • Hydrogen as fuel • Electric mobility • Reduce freshwater withdrawal and water conservation initiatives • Alternative sources of water • Circular economy • Waste management following 5R principles • Community watershed Carbon Emissions Reduction Natural Resource Conservation Biodiversity Management Awareness Readiness Alignment • Increasing r enewable energy share • Carbon Neutral – APSEZ • Water positive/ neutral – APSEZ, ATL, AGEL, AEL • W ater h arvesting – APSEZ, AGEL, ATL, APL • Zero waste to landfill – APSEZ, AGEL, ATL, AEL • Single Use Plastic free - APSEZ, AGEL, ATL, APL • No biodiversity net loss – ATL, AGEL, APL, AEL • Massive mangrove afforestation and terrestrial plantation – APSEZ • Olive Ridley Conservation – APSEZ • Biodiversity Park – APSEZ • Biodiversity management • Natural Capital Action Plan • Afforestation and conservation • Land use and cover management • Supporting Government initiatives • TCFD Recommendation • SBTi Commitment • CDP Climate Change Disclosure • SDGs – 7, 13, 17 • DJSI Corporate Sustainability Assessment • GRI Standards • UNGC Principles • ISO Standards • UN CEO Water Mandate • CDP Water Security Disclosure • Alliance for Water Stewardship • SDGs – 6, 12, 17 • DJSI Corporate Sustainability Assessment • GRI Standards • UNGC Principles • ISO Standards • IBBI Declaration • IUCN – LfN subscription • UN Convention on Biological Diversity (UNCBD) • SDGs – 14, 15, 17 • GRI Standards • UNGC Principles • IFC performance standards DJSI – Dow Jones Sustainability Indices; TCFD – Task Force on Climate related Financial Disclosure; SBTi – Science Based Target initiative; SDG – Sustainable Development Goals; GRI – Global Reporting Initiatives; IUCN – International Union for Biodiversity Conservation; IBBI – India Business and Biodiversity Initiatives; IFC – International Finance Corporation; UNGC – United Nations Global Compact Environmental philosophy 10

Key Environmental commitments of Adani Portfolio companies 11 ` Net Zero Water Neutrality Zero Waste to Landfill SUP Free Sites Mangrove / Afforestation Zero Biodiversity Net Loss (IBBI) No stated commitment Airports & Data Center : Operational Net Zero * Ports and Logistics Power Transmission Renewables Total Gas Enterprises NC NC NC NC NC NC NC NC NC

United Nations Sustainable Development Goals 2030 Our Key Business and Foundation Initiatives mapped to UNSDGs with a Social Imperative Women’s Education Women’s Health Women’s Empowerment / Livelihood Local & Rural Infra - Development Sarguja Trivandrum • Partnered with self help group to educate and provide sanitary pads for safe menstrual hygiene to ensure better health . • Livelihood projects for sustenance in multiple areas Godda • Social licensing by Community engagement for coexistence and creating sustainable livelihood and infrastructure All Locations • Own schools, digitalization and up gradation of Govt . school to provide cost free education to the needy . Social philosophy drives initiatives that are aligned with UN Sustainable Development Goals 1. No Poverty 4. Quality Education 3. Good Health & Well Being 2. Zero Hunger 5. Gender Equality 8. Decent Work & Economic Growth 9. Industry, Innovation & Infra Structure 11. Sustainable Cities & Communities Social philosophy has a strong community focus 12 Presence across 18 States* Uplifting 2,315 villages Touching 3 million lives 430 Cr+ Spent on CSR Activities # Economic Value Creation India & other countries • Past investments and Proposed Capital investments include projects at various remote locations / villages across India without any opportunities for structured employment creation 1. No Poverty 2. Zero Hunger 8. Decent Work & Economic Growth 9. Industry Innovation & Infrastructure 10. Reduced Inequalities

HR policy framework being continuously enhanced based on stakeholders' engagement • Code of Conduct • Prevention of Sexual Harassment • Human Rights Policy • Leave Policy • Employee Volunteering • Mediclaim Policy • Employee Death Relief Policy • Employee Development Programs • Employee Benefit Schemes • Rewards and Recognition Policy Employee philosophy 13 Policies Employee Benefits • Employee Engagement Survey • Employee Development Program • Employee and Family Wellbeing • Employee Safety Initiatives • Improving Gender Diversity • Employee Hiring and Retention • Grievance Redressal • Work Life Balance Focus Area Employee Life Cycle Management Contractor Labour Management System E - learning Platform

Safety Standards, Rules and Procedures Training and Capability Building Contractor Safety Management Safety Interaction (Observation), Incident Reporting & Investigation Audit Logistics Safety (Road, Rail and Warehouse) Safety Task Force for 5 Key Areas Safety Apex Council Group Safety Steering Council Business Safety Council Project/ Geographic Area Safety Council Quality Circle at Shop - floor, Colonies and Construction Sites Safety governance 14

Techno - commercial practices being continuously enhanced factoring stakeholders’ feedback • SAP Ariba implemented to streamline transaction with suppliers • The platform enables transparency and information availability to all key stakeholders across various transactions stages from Procurement to Payment Enterprise Resource Planning and Finance Tool Digitization of Procurement Processes Initiatives • Supplier Engagement Survey • Vendor Recognition • Green Procurement Practices • Fairness in Operation • Timely clearance of bills • Grievance redressal Focus Area Suppliers' framework 15

Committees • Environment Policy – All • Energy and Emission Policy – APSEZ, APL, AGEL, ATL, AEL • Water Stewardship Policy – APSEZ • Biodiversity Policy – ATL, AGEL, APL • Audit Committee* • Nomination and Remuneration Committee* • Risk Management committee # • Info T ech and Data S ecurity Committee # Policies Assurance Corporate Responsibility Committee * Established to provide assurance for all ESG commitments • Corporate Social Responsibility – All • Occupational Health & Safety – All • Human Rights – All • Supplier Code of Conduct – APSEZ, APL, AGEL, ATL, AEL • Related Party Transaction – All • Board Diversity – ATL, APSEZ, AEL • Nomination and Remuneration – All • Code for Fair Disclosure of UPSI – All • Corporate Social Responsibility Committee $ • Stakeholder Relationship Committee # • Corporate Responsibility Committee* • Risk Management Committee # • Corporate Responsibility Committee* • Risk Management Committee # Governance philosophy encompassing strong policy and structure backed by robust assurance mechanism * 100% Independence; $ At least 75% Independence; and # At least 50% Independence Governance philosophy 16

APSEZ APL ATL AGEL ATGL AEL Board level Stakeholder Relationship Committee (SRC) Corporate Responsibility Committee (CRC) Corporate Social Responsibility Committee (CSRC) Risk Management Committee (RMC) Corporate level Sustainability Leadership Committee Core Working Group ESG Apex Committee Core Working Group ESG Apex Committee Core Working Group ESG Apex Committee Core Working Group ESG Apex Committee Core Working Group Business Specific Council / Team Site level Sustainability Steering Committee Sustainability Committee Sustainability Committee Sustainability Committee HSE Committee HSE / Sustainability Committee Key decisions made ▪ Review and approval of policies ▪ Integration of ESG matrix to executive and employee compensation ▪ ESG Commitments ▪ Board Committees Restructuring Key Governance Policies across Adani Portfolio Companies 17

STRICTLY CONFIDENTIAL STRICTLY CONFIDENTIAL Adani Portfolio ESG Update 03

19 * Compared to base year FY18; CA – Compensatory Afforestation; Ha – Hectare; DJSI : Dow Jones Sustainability World Index Adani Enterprises Ltd (AEL) : ESG performance update ESG Rating in DJSI (S&P Global) Achieved “FIMI – Hindalco – Aditya Birla Award for Sustainable Mining” for Best efforts in Biodiversity Conservation and Sustainable Mining for Parsa East and Kanta Basin coal mine located at Surguja, Chhattisgarh. Natural Resource Conservation ◼ Rooftop Solar plants helped to substitute ~ 4 % of Power requirement ◼ Specific Energy consumption is higher due to low production in Q2 ◼ Specific DI water consumption is higher due to low production in Q2 ◼ 27,636 plantations cultivated despite low fertility soil and semi arid conditions Waste to Wealth Generation ◼ Installed Bio - gas plant for treatment of 100% food waste and generation of cooking gas ◼ Conceptualised in - house wood recycling plant for recycling of pallets (1,114 pallets recycled ~35 MT of wood saved in H1 FY23) Safety ◼ 8 improvements completed related to Fire Safety , Machine guarding, Forklift Safety etc. considering high - risk activities ◼ Consistent Improvement in EHS parameters ◼ Nil LTI (Lost Time Injuries) for consecutive three years Energy Intensity 3% ↓ * Water Intensity 23% ↓ * Terrestrial Plantation 21.64 Lakh Trees Planted Waste Managed through 5R Waste Management 99% Emission Intensity 15% ↓ * CA Land & Excavation Area 3797 Ha – C Afforestation 102.5 Ha – Reclamation Ranked 7 th in its peer group in the world for 2022 AEL scored 51/100 against the industry average score in the peer group 21/100 Industry Highest AEL Industry Average Primary Industries (Mining Services) Adani New Industries Supply Chain Ecosystem

AEL : Adani New Industries Supply Chain Ecosystem 100% Compliance on Environment Conservation H1 FY23 20 Note: Adani Solar spends USD 1.8Mn/Annum for effluent treatment ETP - Effluent Treatment Plant | STP - Sewage Treatment Plant | GPCB – Gujarat Pollution Control Board mg/L – Milligram per Liter | Nox - Nitric Oxide | SOx - Sulfur Oxide | TDS - Total dissolved solids | PM - particulate matter | pH - potential of hydrogen | μg/m3 - Per Cubic Meter Air | CaCO3 - Calcium carbonate Monthly assurance by GPCB approved agency to ensure compliance of GPCB norms All parameters are within GPCB Limits 6.5 - 8.5 100 15 7.16 4 12.6 pH@25°C Total Suspended Solids (mg/L) Fluoride (as F) (mg/L) ETP - Treated Water GPCB Limit Result 6.5 - 8.5 100 30 7.14 16 19 6.93 22 13 pH@25°C Total Suspended Solids (mg/L) Biomedical Oxygen Demand (BOD) (mg/L) STP - Treated Water(MSPVL and MSTPL) GPCB Limit MSPVL MSTPL 6.5 - 8.5 500 200 120 8.18 102 56 44 pH @ 25 ° C TDS (PPM) Total Hardness (in PPM as CaCO3) Calcium (in PPM as CaCO3) Drinking Water Limit Result 100 60 80 80 81 24 16.7 20.1 PM10 (microgram/m3) PM2.5 (microgram/m3) SOX (microgram/m3) NOX (microgram/m3) Ambient Air GPCB Limit Result

Adani Green Energy Ltd (AGEL) : ESG performance update 21 Achieved Sustainalytics ESG Risk Rating of ‘Low Risk’ with a score of 14.6, the best amongst key global peers and significantly better than global Utilities sector average of 33.5 ESG : Environmental, Social & Governance; GRI : Global Reporting Initiative; CDP : Carbon Disclosure Project; TCFD : Task Force on Climate - Related Financial Disclosures; GHG : Greenhouse Gases; UNSDG : United Nations Sustainable Development Group, LTIFR : Lost Time Injury Frequency Rate ➢ Increased percentage of Independence Directors in Existing Board Committees ✓ Increased from 75% to 100% for Audit Committee and Nomination and Remuneration Committee ✓ Increased from 33% to at least 75% for Corporate Social Responsibility Committee ✓ Increased from 33% to at least 50% for Risk Management Committee ✓ To be at least 50% for Stakeholders Relationship Committee ➢ Newly formed Board Committees ✓ Corporate Responsibility Committee with 100% Independent Directors to assure implementation of ESG commitments ✓ New Sub - Committees of Risk Management Committee with at least 50% Independent Directors ✓ Mergers & Acquisitions Committee ✓ Legal, Regulatory & Tax Committee ✓ Reputation Risk Committee ✓ Information Technology & Data Security Committee with at least 50% Independent Directors Key Updates on Environment & Social initiatives – H1 FY23 Indicator FY25 Target FY23 Target Status: H1 FY23 Water neutral operating capacity (MW) for plants > 200 MW 100% 60% 42% Zero waste to landfill operating capacity (MW) 100% 50% 100% 1 Single use plastic free operating capacity (MW) 100% 100% (Already achieved in FY22) 100% 2 Key Commitments Governance - Revised Board of Charter implemented ➢ Bio - diversity management ✓ Adopted a Technical Standard, developed in association with CII following IBBI Principles and IUCN Standard, to ensure ‘No Net Loss’ of biodiversity across all plants ➢ Occupational Health & Safety ✓ 0.39 LTIFR in H1 FY23 ✓ 0.01 mn continuous safe man hours in H1 FY23 ✓ 65,740 workman training hours on safety in H1 FY23 ➢ Sustainable Livelihood ✓ 1,671 direct/ indirect job opportunities provided in H1 FY23 ✓ Employee retention rate of 90% in H1 FY23 ➢ Pollution control & GHG emission reduction ✓ 7.5 Mn ton CO2 emission avoided in H1 FY23 (Including infirm Power) ✓ 99.8% less emission Intensity per unit of generation (0.0018GHG tCO2/MWh) in H1 FY23 v/s Indian grid average of 0.79 tCO2/ MWh ➢ Resource conservation ✓ 99.7% less Fresh Water consumption per unit of generation (0.02 kl/MWh) in H1 FY23 as against 3.5 kl / MWh, statutory limit for thermal power ✓ 100% of AGEL’s operating capacity is single - use plastic free under CII Plastic Protocol ➢ Supply Chain ✓ Completed CDP’s Supply Chain Engagement program at AGEL with participation from 93% of our critical suppliers 1. External audit completed and certification in progress 2. Certification in progress for plants commissioned in H1 FY23

Adani Green Energy Ltd (AGEL) : Renewable Capacity build up & resultant CO2 Emission avoided 22 Cumulative CO 2 emission avoided by AGEL is higher than Sri Lanka’s annual CO 2 emission 1 Fast - paced Renewable Capacity addition leading to a greener future 0.14 0.58 1.80 5.38 9.40 14.60 24.77 0.14 0.44 1.22 3.58 4.02 5.20 10.17 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Cumulative CO2 Emission avoided (Mn ton) Year wise CO2 Emission avoided (Mn ton) 1. Sri Lanka had an annual CO2 2emission of 21.11 mn ton in 2020.Source : https://ourworldindata.org/co2 - emissions#co2 - emissions - by - region FY16 FY21 FY22 FY25 FY30 0.3 3.5 5.4 25.0 45.0 Historical Targeted Projected CAGR: ~ 30% Historic CAGR: 60%

Adani Transmission Ltd (ATL) : ESG performance update 23 Key Performance Indicators Current Status Baseline Medium to Long - term Targets Energy Mix & Emission Intensity - RE share in power procurement AEML has achieved 22% renewable in power mix as of Sep’22 3% 30% by FY23 60% by FY27 - GHG Emission Intensity Reduction The target for GHG emissions reduction is in line with Nationally Determined Contribution (NDC) for climate change. Disclosed in terms of a reduction in GHG per unit of revenue. - 40% by FY25 70% by FY30 Waste Reduction and Biodiversity Management - Zero waste to landfill (ZWL) Dahanu Power Plant attained ZWL status No certification in FY19 - 20 Achieved ZWL for all O&M sites in FY22 - Single use plastic (SuP) free sites Following site attained SUP free status: • Dahanu Power Plant • Major Substations ( Mundra, Mahendragarh , Koradi ) No certification in FY19 - 20 To achieve SuP free for all sites by FY22 - 23 - India Business Biodiversity Initiative (IBBI) and ensure no net loss to biodiversity • Signatory to IBBI and submitted first progress report in 2020 • Afforestation of 441 hectares area in FY21 - 22 FY20 - 21 289 hectares No net loss to biodiversity and 100% alignment with IBBI and IBBI principles based public disclosures by FY23 - 24 - Water Neutrality (Water conservation) • Carried - out rainwater harvesting feasibility study for two sub - stations • Implemented water metering across all sites No water neutrality in FY 19 - 20 Net Water Neutrality Certification for all O&M sites Energy Efficiency and Management - Reduction in auxiliary consumption through solar power 3.362 MWp solar capacity at Mahendragarh , Akola, Koradi , Sami, Morena, Rajnandgaon Solar capacity of 1.7 MWp in FY19 - 20 Coverage across all transmission Sites Material C a t e gor i e s Material Themes Key Performance Indicators Baseline Target ( F Y 22 - 23 ) Health & Safety Work related injury Rate of fatalities per million hours worked Zero (FY 20 - 21) Zero Rate of recordable work - related injuries per million man - hours worked 0.33 (FY 20 - 21) Zero Safety awareness and t raining Average hours of training provided per person on health and safety 15.6 (FY 20 - 21) Further improve from baseline Diversity and Inclusion Measurement of Div ers i ty and Inclusion Metrics and Enforcement of policies Women as a percentage of new hires and total workforce (%) New Hire: 5 % Total Workforce: 5% New Hire: 10% Total Workforce: 6% Human Rights Training on human rights Employees trained in human rights policies or procedures (%) - 100% Skills for the future Skill development trainings Training and development expenditure for employees (INR) Rs 3.81 Cr (FY 20 - 21) Rs 4.69 Cr Responsible P r oc ure m ent Proportion of spending on local suppliers (%) Spend on local suppliers against the total procurement budget (%) 99.4 % (FY 20 - 21) Maintain FY21 Performance Supplier screening on ESG metrics Suppliers screened on ESG criteria (%) 100% (Critical Suppliers) 100% (Critical Suppliers) by FY22 - 23

Adani Transmission Ltd (ATL) : ESG performance update 24 Safety Initiatives During Q2FY23 Safety Performance in Q2FY23 • Safety training: 40,344 man - hours of safety training and awareness during Q2FY23 • Positive Safety Culture: • Physical training on fall protection equipment's for working at height was conducted at Koradi and Akola Substation • Enhanced safety awareness through Monthly Safety Quiz Series (MSQS) • Conducted ‘Electrical Safety at Home’ Webinar for Consumers & Employees • Contractors and Projects Safety Scorecard: For enhanced safety evaluated projects and contractors basis internal parameters during the quarter • Safety Checks and Assurances(SCA): To strengthen safety and increase the effectiveness of safety management at sites, quarterly safety checks and assurance on 3 pre - declared topics are given by sites • Safety Award: Received "Gold Award" Under “Apex India Occupational Health & Safety Award 2022” Material C a t e gor i e s Material Themes Key Performance Indicators Baseline Actions Taken and Goals Board Gender Diversity Board Gender Diversity Balance the board composition in terms of men and women directors 16.6% - women directors in board as of FY21 • % of women directors in board improved to 28.5% Board Independence Great Board Independence and Improved Disclosures • Improve board strength and independence • Incorporate non - statutory committees • Enhance disclosures in board & committee meetings • 6 directors as of FY21 • Only statutory committees as of FY21 • Board now comprises of total 7 directors with 4 independent directors • Enhanced disclosures through formation of new committees with min. 50% IDs (CRC, RMC, PCC, IT & Data Security) • Committees chaired by Independent Directors (Audit, NRC, STC) Code of Conduct Corruption and Bribery Cases • Number of Corruption cases and Bribery and Associated Risks • Adoption of Anti Corruption and Bribery Policy • % of Governance body members and employees trained on anti - corruption Zero corruption cases • Zero Case on Corruption and Bribery • Board Adopted Anti Corruption and Bribery Policy • Identification and Assessment of risks Anti - competitive Practices Fines and Settlements • Fines or settlements paid related to anti - competitive business practices (INR) Zero as of FY21 • Zero in FY23 and beyond Customer orientation and satisfaction Consumer Satisfaction • Affordable tariffs • Service reliability • Sustainable power Distribution loss reduction, CSAT surveys, Reliability metrics • Competitive tariff through RE power • Option to switch to Green power tariff • Advanced metering implementation for 12 million consumers Corporate Governance Standing ESG Ratings Improvement in ratings through improved disclosures and adoption of best practices CSA: 63/100; FTSE: 3.3/5 Target FY23: CSA – 67/100 and FTSE: 3.6/5 Notes: A) List of non - statutory committees – CRC: Corporate Social Responsibility & Sustainability Committee; PRC: Public Consumer Committee; Information Technology & Data Sec uri ty Committee; RMC: Risk Management Committee; B) List of statutory committees: SRC: Stakeholders’ Relationship Committee NRC: Nomination and Remuneration Committee; STC: Secu ri ties and Transfer Committee; Audit Committee; C) Sub - committees under Risk Management Committee: Mergers & Acquisitions Committee; Legal, Regulatory & Tax Committee; Reputation Risk Committee Transmission Distribution (AEML) Safety Parameters Q2FY23 Q2FY22 Q2FY23 Q2FY22 Near Miss Reporting (Awareness) 1,493 1,018 1,674 957 Suraksha Samwad (Safety Dialogue) 2,781 2,293 2,680 45 LTI 0 2 1 9 Fatalities 2 0 0 0 LTIFR (LTI Frequency Rate) 0.64 0.64 1.65 1.84 LTI (LTI Severity Rate) 3,882.78 9.67 23.09 66.25 Safety training by Safety team (in Man - Hours) 37,945 33,706 2,399 4,523 Notes: LTI frequency rate and LTI severity rate lower the better; LTI Frequency Rate: Reportable loss time injury (RLTI)*1000 000 /Man hours worked; LTI severity Rate : Man days Lost (MDL)*1000000/Man hours Worked

25 Particulars Description UN SDG Solarization - 650 Kw capacity Rooftop solar installed in 36 sites - 508 KW installation in process , - 1.2K MW by 2023 Green Building - New HQ built with Green building norms - Documentation and application to IGBC Gold rating certification (Indian Green Building Certification) process on - going. Single Use Plastic In Ahmedabad GA ( Heritage , Wadaj , Drive in , Maninagar and CGS Ramol) was certified Singe use plastic free by CII. No Single use plastic being used in this locations . Offices in Faridabad to be targeted next Methane Leak Detection - Total of 700 Km LDAR survey has been completed by Josler with advanced technology , Identified leaks are repaired. - Inhouse Lock pressure test and repair of MDPE lines Water Management Water audit has been done for 17 sites. Water meter and Rainwater harvesting infrastructure is being installed across sites with the aim of water neutrality Decarbonization of Fleets More than 85% LCVs contracted to ATGL are CNG Powered , 100% by March’23 Green Belt Development more than 45 ,000 sapling & trees to be planted in 9 upcoming CGS including fruit bearing trees. 2075 sapling were planted in CGS Ramol. Energy Audits 50 ATGL sites were evaluated and Sensors , Timers , Energy efficiency fans are being installed to minimize power consumption Greenmosphere – Low Carbon society 1 Lakhs+ Sapling are planted with the aim 2.5 Lakhs plus plants spreading across 36,000 Sq feet 3000+ students trained under Green millennials program on Climate Change ESG Disclosures & Ratings - DJSI (Dow Jones) & CDP (Climate disclosure) Ratings to be published in FY’23 - Standalone sustainability report released - Released BRSR (Business Responsibility & Sustainability Report) along with Integrated Annual Report FY’22 Adani Total Gas (ATGL) : ESG performance update

Adani Ports and SEZ Ltd (APSEZ) : ESG performance update 26 *Base year is FY 2015 ‐ 16; # Base year is FY 2017 ‐ 18 **We have enhanced Mangrove afforestation target for 2025 to 5000 Ha Indicator FY25 Target Till FY22 End Status: H1 FY23 Energy & Emission RE share in total electricity* 100% 20% 13% Energy intensity reduction* 50% 38% 47% Emission intensity reduction* 60% 45% 43% Water and Waste Water consumption intensity reduction* 60% 58% 64% Zero waste to landfill 12 Ports 6 Ports 6 Ports Afforestation Mangrove afforestation 5000 Ha 3239 Ha 3239 Ha Terrestrial plantati on 1200 Ha 1000 Ha 1000 Ha Social Safety Zero Incidents 3 (Contract workers) 3 (Contract workers) Community based skill development program (enrollment) 200,000 95,000 109,307 Women’s self - help group 325 257 272

27 Our sustainability strategy led by our Sustainable Development (SD) 2030 Plan Target 2030 Climate and energy Circular economy Environment Community Net specific CO 2 emissions* 453 kg /t of cementitious materials Use 21 million tons of waste derived resources per year Fresh water consumption 62 Ltrs / T of Cementitious material 3.5 million Number of new beneficiaries Net specific CO 2 emissions 518 kg /t of cementitious materials Consumed 6.59 million tons of waste derived resources 51 Ltrs / T of Cementitious material 0.8 million (cumulative till Sep 22) people benefited through community development projects Performance Jan - Sep 22 - Maximizing WHRS power by setting up additional facilities & augmenting existing facilities - Scaling up renewable power – Solar, Wind & Hydro - Increasing usage of alternative fuels - Higher proportion of blended cement - Accelerating green products & solutions - Reduction freshwater withdrawal - Focus on water governance, sustainable livelihood & social inclusion for the community * CO2 emissions are excluding emissions from Captive Power Plants Ambuja Cement: ESG performance update

28 Our sustainability strategy led by our Sustainable Development (SD) 2030 Plan Target 2030 Climate and energy Circular economy Environment Community Net specific CO 2 emissions* 400 kg /t of cementitious materials Use 30 million tons of waste derived resources per year Water Positive Index 5 (number of times) 3.5 million Number of new beneficiaries Net specific CO 2 emissions 475 kg /t of cementitious materials Consumed 8.4 million tons of waste derived resources 1.35 (number of times) 0.4 million (cumulative till Sep 22) people benefited through community development projects Performance Jan - Sep 22 - Maximizing WHRS power by setting up additional facilities & augmenting existing facilities - Scaling up renewable power – Solar, Wind & Hydro - Increasing usage of alternative fuels - Higher proportion of blended cement - Accelerating green products & solutions - Reduction freshwater withdrawal - Focus on water governance, sustainable livelihood & social inclusion for the community * CO2 emissions are excluding emissions from Captive Power Plants ACC: ESG performance update

29 Adani Wilmar Ltd (AWL) : ESG performance update 29 ◼ Zero liquid discharge systems at eight plants ◼ 97% of packing materials used are recyclable ◼ Procured 95.7% of crude palm oil which is traceable up to mills; seven out of nine palm oil refineries are RSPO certified ◼ Successful implementation of solar power at 6 plants ◼ Various initiatives like sourcing oils from sustainable resources, certified refineries and zero water discharge systems at seven of our plants ◼ Formulated a CSR committee under Section 135 of Companies Act 2013 ◼ Robust Board approved commodity & forex risk management policies and internal audit team ensures highest governance standards Conserving Water Using recyclable packaging −A mission against malnutrition and anaemia in below 5 yrs age children, adolescent girls & women in reproductive age. ◼ ~1065 Villages and ~ 139 Slums ◼ 1700 Anganwadis ◼ 0.2 million Households ◼ 482 Sanginis ◼ ~1.3 million population Associated with Adani Foundation (CSR arm of Adani Group) Initiative against malnutrition and anaemia among children of 0 - 5 years age group, adolescent girls and women in reproductive age group Improving health & nutrition status of acute malnourished children up to 5 years of age with timely identification and curative action. Committed to maintaining environmental and social sustainability and taken measures to ensure corporate governance compliance Sustainable Sourcing Promoting Green Energy

Adani Portfolio: CSR 30 Adani Foundation’s Annual Report for 2021 - 22 , themed “Transforming Together” , narrating the multifaceted efforts and activities of Foundation undertaken in the field of Education, Health, Sustainable Life Development and Community Infrastructure Development , in alignment with the United Nations Sustainable Development Goals . The Foundation is now one of the world’s most wide - reaching social support organization, having touched the lives of more than 3 . 7 million people in 2 , 409 villages across 16 states in India . The report also captures an update on Adani Foundation’s key initiatives like SuPoshan, Saksham, Swachhagraha and Udaan which have become hallmark of Foundation’s work . Our Work Community Infrastructure Swachhagraha Employee Volunteering Programme Health Saksham SuPoshan Education Sustainable Livelihood Udaan

Thank You

STRICTLY CONFIDENTIAL STRICTLY CONFIDENTIAL APPENDIX Case Studies A

Mangrove afforestation status • Contract awarded for 250 Ha • Nursery developed for mangrove saplings • Sapling plantation started from Nov - 21 Luni Mundra Proposed afforestation site Eco - restoration status Terrestrial plantation status • Plantation on 10 Ha completed and on 25 Ha in progress • Fencing on 10 Ha • Ecological data collected • Grass seeds balls prepared • Saplings of Piludi procured • Rare and threatened species identified • Identified species to be introduced in 2022 Mangrove Afforestation Eco - restoration • Mangrove afforestation already started on 250 Ha vs. FY25 target of 2,000 Ha • Terrestrial plantation completed on 10 Ha; work ongoing on another 25 Ha • Initiated grassland ecosystem restoration of 10 Ha in Kutch, Gujarat against FY25 target of 40 Ha APSEZ: Afforestation and eco - restoration are a key focus areas for APSEZ 33

AEML : First time ever covenanted sustainability linked framework by a Utility in India 34 AEML successfully launched India’s First Energy Sector Sustainability Linked Bond with legally binding ESG targets for renewable energy penetration and reduction of GHG emission intensity in line with COP26 goals Ensure access to affordable, reliable, sustainable and modern energy for all Make cities and human settlements inclusive, safe, resilient and sustainable Take urgent action to combat climate change and its impacts Particular Financial Year Renewable Mix Baseline 2019 3% Intermediate 2023 30% SPT - 1 2027 60% KPI #1: Increase Renewable in power purchase mix Particular Financial Year GHG Emission Intensity Reduction Baseline 2019 - Intermediate 2025 40% Intermediate 2027 50% SPT - 2 2029 60% KPI #2: Reduction in GHG Emission Intensity Mumbai Green Energy initiative Green Power tariff option marketed to all consumers Single Use Plastic (SUP) Zero waste filled Land AEML is committed to all UN Sustainability Development Goals with a focus on KPI – Key Performance Indicator, GHG – Greenhouse Gas, SPT – Sustainability performance targets

AGEL: Water Resource Conservation at 648 MW Kamuthi becoming Water Positive 35 New ground water recharge reservoir built 52,982 m 3 /yr Estimated water consumption for Kamuthi site 35,670 m 3 Water saved in Kamuthi is >1.5x of usage First Water Positive Plant of its kind in the World Aligning to UN Sustainable Development Goal 12 • Committed to water neutrality through reducing water consumption & conservation of water Certified Water +ve by DNV

AGEL: 648 MW solar plant at Kamuthi certified as Single - Use - Plastic (SUP) Free 36 ‘Ditch The Disposable’ Initiative SUP Free certification at Kamuthi set the model to be followed at large renewable plants across India; 100% of AGEL’s Operating Capacity is now certified as Single - Use - Plastic Free Certified Single - Use - Plastic Free Eliminated SUP use from Supply - chain ✓ Uses identified - e.g. wrapping/ packing material for equipment ✓ General Conditions of Contract amended ✓ SUP incorporated in quality checklist Eliminated SUP use in Internal Operations ✓ Identified SUPs as defined by United Nations Environmental Program and European Union ✓ Training of employees and IMS auditors on SUP ✓ Elimination of SUP items from the system by SUP : Single - Use - Plastic ; IMS : Integrated Management System ; Aligning to UN Sustainable Goals 12 & 14 ✓ Committed to responsible consumption by way of reducing single - use - plastic usage to ‘zero’ and thereby help reduce its impact on life below water ✓ SUP free certification to minimize waste generation under ISO 14001 being implemented

Certain statements made in this presentation may n o t be based on historical information or fa c ts and may be “forward - looking statements,” including those relating to general business plans and strategy of Adani group , the f u t u r e outlook and g r o w t h prospects, and f u t u r e developments of th e business and t h e competitive and regulatory environment, and statements whi c h contain words or phrases such as ‘will’, ‘expected to’, etc . , or similar expressions or variations of such expressions . Actual results may dif f e r materially from these forward - looking statements due to a number of factors, including f u t u r e changes or developments in th ei r business, th e ir competitive environment, t h ei r ability to implem ent th ei r strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in India . This presentation does n o t c o ns t i t u te a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell, any shares and should n o t be considered as a recommendation t h a t any investor should subscribe fo r or purchase any of Adani group entities shares . Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to t h e shares shall be deemed to c o n s t i t u t e an o f f e r of or an invitation by or on behalf of Adani group . Adani group, as such, makes no representation or warranty, express or implied, as to, and does n o t accept any responsibility or liability w i t h respect to, t h e 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 t h e date of this presentation . Adani group assumes no responsibility to publicly amend, modify or revise any forward - looking statements, on t h e basis of any subsequent development, information or events, or otherwise . Unless otherwise stated in this document, t h e information contained herein is based on management information and estimates . The information contained herein is subject to change w i t h o u t notic e and past performance is n o t indicative of f u t u r e results . Adani group may alter, modify or otherwise change in any manner t h e c o n t e n t of this presentation, w i t h o u t obligation to n o t i f y any person of such revision or changes . No person is authorised to give any information or to make any representation n o t contained in and n o t consistent w i t h this presentation and, if given or made, such information or representation must n o t be relied upon as having been authorised by or on behalf of Adani group . This presentation does n o t co n s t i t u t e an o f f e r or invitat ion to purchase or subscribe f o r any securities in any jurisdiction, including t h e United States . No part of its should form t h e basis of or be relied upon in connection w i t h any investment decision or any c o n t r a c t or c o mm i tm e nt to purchase or subscribe f or any securities . None of our securities may be offered or sold in t h e United States, w i t h o u t registration under t h e U . S . Securities A c t of 1933 , as amended, or pursuant to an exemption from registration therefrom . Disclaimer Investor Relations Team: MR. Charanjit Singh Head – ESG & IR [email protected] +91 79 2555 7712 MR. Manan Vakharia Lead – IR [email protected] +91 79 2555 6140 MR. Priyansh Shah Lead – IR [email protected] +91 79 2555 7139 MR. Abhik Das Lead – IR [email protected] +91 79 2555 7139 MR. Vijil Jain Lead – IR [email protected] +91 79 2555 7947 MR. D. Balasubramanyam Group Head – IR [email protected] +91 79 2555 9332 MR. Nishant Vyas Manager – Group IR [email protected] +91 79 2555 9333 MR. Viral Raval Lead – IR [email protected] +91 79 2555 8581 MR. Arpit Mundra Asst. Manager – IR [email protected] +91 79 2555 9500