Adani Portfolio: Hindenburg Questions & Assertions 17 1. Hindenburg asked 89 question in Total, the f ollowing Question by number: 1,2,3 5,6,7 19,20,21, 27,28,29 62,63,64 and 72,74,75,77,78,79 are in relation to Related party transactions, DRI (Directorate of Revenue Intelligence) and court cases 2. 21 in total cannot be claimed to be result of any investigation over a 2 year period or any such assertion as they were disclosed in the following public documents all the way back from 2015 onwards : • ATL Rapid (2016) • ATL Rapid (2019) • Falcon AEML (1 Billion Bond) (2019) • Falcon AEML (GMTN Bond) (2021) • Project Shreya (RG 1 Bond – PSEPL, AGEUPL and PDPL) (2019) • Project Shreya (RG 2 Bond – WSMPL, KSPPL and ARERJL) (2019) • APSEZ Project Pearl (USD 750 million senior notes) 2021 (“July 2021 OC”) • APSEZ Project Stark IV (USD 500 million senior notes) 2021 (“January 2021 OC”) • APSEZ Project Stark III (USD 750 million senior notes) 2020 (“2020 OC”) • APSEZ Project Stark II (USD 650 million senior notes) 2019 (“2019 OC”) • APSEZ Project Stark I (USD 650 million senior notes) 2015 (“ 2015 OC ”) • AGEL Project Avengers (USD 750 million senior notes) 2021 • APSEZ – U.S.$300,000,000 3.828 per cent. Senior Notes due 2032 • APSEZ U.S.$450,000,000 5.00 per cent. Senior Notes due 2041 • Helmet Open Offer (2022) and MIAL USPP (2022)

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