General Updates

October 23, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Scrip Code: 539254 Scrip Code: ADANIENSOL Dear Sir, Sub: Submission of Investors’ Presentation on Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026. In continuation to submission of Outcome of Board Meeting dated October, 22, 2026, please find enclosed the Presentation on performance highlights of the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026 as Annexure "A". The same is also being uploaded on the Company's website at www.adanienergysolutions.com You are requested to take the same on your records. Thanking you, Yours faithfully, For Adani Energy Solutions Limited Jaladhi Shukla Company Secretary Encl: As above Adani Energy Solutions Ltd Tel +91 79 2555 7555 Adani Corporate House Fax +91 79 2555 7177 Shantigram, Near Vaishno Devi Circle, info@adani.com S. G. Highway, Khodiyar, www.adanienergysolutions.com Ahmedabad 382 421 Gujarat, India CIN: L40300GJ2013PLC077803 Registered Office: Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad – 382 421 Annexure "A" Adani Energy Solutions Limited Q2 & 1H FY27 Results Presentation | October 2026 Contents 1 Executive Summary 2 1H FY27 Financial Highlights (YoY) 3 Capex Profile 4 Q2 FY27 Financial Highlights (YoY) 5 1H FY27 Operational Highlights (YoY) 6 Q2 FY27 Operational Highlights (YoY) 7 Annexure – ESG Framework and Updates Annexure – Rating and Operational and Under construction Asset Portfolio SSTTRRIICCTTLLYY CCOONNFFIIDDEENNTTIIAALL Executive Summary SSTTRRIICCTTLLYY CCOONNFFIIDDEENNTTIIAALL Adani Portfolio: A World Class Infrastructure & Utility Portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Other Materials, Metal Incubator Energy & Utility Transport & Logistics Specialty & Mining (71.97%) (62.43%) (74.96%) (66.03%) (67.29%)2 AGEL APL APSEZ AEL Ambuja Cements3 Renewables IPP Ports & Logistics (73.39%) (37.40%) (50.05%) (72.66%) AESL ATGL1 ACC2 Orient2 T&D Gas Discom (100%) (50.00%) (100%) (100%) (100%) (69.02%) ANIL AdaniConneX4 AAHL5 ARTL Copper, Aluminum NDTV New Industries Data Centre Airports Roads (100%) (100%) (100%) (100%) Mining Services Specialist PVC & GCC Manufacturing6 Com. Mining (%): Adani Family equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries (%): Ambuja equity stake in its subsidiaries Listed cos Direct Consumer A multi-decade story of high growth centered around infrastructure & utility core 1. ATGL: Adani Total Gas Ltd, JV with Total Energies | 2. Ambuja Cement’s shareholding does not include Global Depository Receipt of 0.04% but includes AEL shareholding of 0.35% received as part of the consideration against transfer of Adani Cementation Limited as per NCLT order dated 18th July’25 | 3. Cement includes 67.29% (67.33% on Voting Rights basis) stake in Ambuja Cements Ltd. as on 30th Sep’26 which in turn owns 50.05% in ACC Limited. Adani directly owns 6.64% stake in ACC Limited & Ambuja Cements Ltd. holds 72.66% stake in Orient Cement Ltd. | 4. Data center, JV with EdgeConnex | 5. AAHL has entered into binding agreements to raise INR 9,825 crore (~USD 1 Bn) of primary equity capital from marquee Global Investors in the month of Sep’26, once completed, investors will hold 5.54% stake in AAHL | 6. Includes the manufacturing of Defense and Aerospace Equipment | AEL: Adani Enterprises Limited | APSEZ: Adani Ports and Special Economic Zone Limited | AESL: Adani Energy Solutions 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 | IPP: Independent Power Producer | NDTV: New Delhi HoTme outlineelevision Ltd | PVC: Polyvinyl Chloride | GCC: Global Capability Centre l Promoter’s holdings are as on 30th September, 2026. Adani Portfolio: Best-in class growth with national footprint All figures in INR cr Predictable, high and rising free cash flow National footprint with deep coverage EBITDA Tax paid 94,834 Finance cost paid CAT (FFO) 67,995 (72%) EBITDA 24,870 12,784 APSEZ (51%) 22,259 Adani’s Core Infra. AGEL (23%) Platform – ATGL 10,418 375 AESL (42%) 4,580 1,668 APL Userbase FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Ambuja Cement EBITDA: Earning before Interest Tax Depreciation & Amortization I EBITDA: PAT + Share of profit from JV + Tax + Deferred Tax + Depreciation + Finance Cost + Forex Loss / (Gain) + Exceptional Items | FFO: Fund Flow from Operations l FFO : EBITDA – Actual Finance cost paid (excl. Capitalized Interest, incl. Int. on Lease Liabilities)– Tax Paid l AEL: Adani Enterprises Limited l APSEZ: Adani Ports and Special Economic Zone Limitedl AGEL: Adani Green Energy Limited | ATGL: Adani Total Gas Limited l Home outline 55 AESL: Adani Energy Solutions Limited l APL: Adani Power Limited Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT1 OPERATIONS CONSUMERS NewC.E.O. Adani Infra (India) Limited | Cemindia Projects Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Construction Operation Inspired Purpose & Value Creation T • Analysis & • Siteacquisition • Engineering &design • Life cycleO&Mplanning • Delivering exceptional products & services for elevated I V marketintelligence engagement • Concessions& • Sourcing &quality • AssetManagementplan T C • Viabilityanalysis regulatoryagreements • Project Management • Differentiated and many P&Ls Consultancy (PMC) N Adani’s Core Infra. Platform – M 375 O Mn R India’s Longest Private HVDC World’s largest Energy Network Userbase P LargestCommercial Line in Asia Renewable Cluster Operation Center Port (Mundra - Mohindergarh) (at Khavda) (ENOC) (atMundra) N Strategic value Investment Case Growth Capital – Platform 9% Long Term Debt LE Mapping Development Infrastructure Financing 14% 19% AM Framework PSU Banks T I P AE G A Policy, Duration Risk Matching M 2a 0r 1c 6h 55% 3% Mar’26 22% P Uv St. DB Ba on nks ds CN A M S Rt ir sa kt egy & R Gi os vk e M rna an na cg ee &m e An st s – u rR aa nt ce e & Currency 31% 24% DN IB IFCs & FIs Framework Diversified Source of Capital 1% 22% Global Int.Banks Capex LC E Continued • Power Utility Business -ENOC L Human Capital • Leadership Development Initiatives B Focus & AI enabled Digital Transformation • City Gas Distribution - SOUL A Development N Investment • Investment in Human Capital • Transportation Business - AOCC Note : 1. Cemindia Projects Ltd. (formerly known as ITD Cementation India Ltd.): the total shareholding stands at 67.46%. PSP Projects Ltd.: the total shareholding stands at 34.41%.| 2. Adani Environmental Resource Management Services Ltd. (additional company is being proposed) | O&M: Operations & Maintenance l HVDC: High voltage direct current l PSU: Public Sector Undertaking (Public Banks in India) l GMTN: Global Medium-Term Notes l SLB: Sustainability Linked Bonds l AEML: Adani Electricity Mumbai Ltd. l AIMSL : AdaniInfraMgt ServicesPvtLtdl IG: Investment Grade l LC: Letter of Credit l DII: Domestic Institutional Investors l COP26: 2021 United Nations Climate Change Conference l AGEL: Adani Green Energy Ltd. l NBFC: Non-Banking Financial Company l AIIL: Adani Infra (India) Ltd. |Hom e o Autline OCC : 66 Airport Operations Control Center Adani Energy Solutions: Leading Utility Platform Driving India’s Energy Transition India’s only Fully Integrated Utility Infrastructure Platform Power Transmission Business Power Distribution Business Smart Metering Business Energy Solutions Businesses Top Rated Private-sector One of the Largest Smart End to End Integrated Energy Largest Private-sector D [Showing first 8,000 characters — download PDF for full document]