Investor Presentation

VAML/Sec./SE/26-27/54 October 28, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers “Exchange Plaza” Dalal Street, Fort Bandra-Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 544780 Symbol: VAML Sub: Outcome of Board Meeting held on October 28, 2026 – Press Release and Investor Presentation Dear Sir/Madam, In continuation to our Letter No. VAML/Sec./SE/26-27/53 dated October 28, 2026, declaring the Unaudited Consolidated and Standalone Financial Results of Vedanta Aluminium Metal Limited (the “Company”) for the second quarter and half year ended September 30, 2026 (“Financial Results”), please find enclosed herewith the following: 1. Press Release in respect of the Financial Results; and 2. Investor Presentation on the Financial Results. The Press Release and Investor Presentation shall also be made available on the website of the Company at www.vedantaaluminium.com. The meeting of the Board of Directors of the Company commenced at 02:10 p.m. IST and concluded at 03:12p.m. IST. We request you to please take the above on record. Thanking you. Yours faithfully, For Vedanta Aluminium Metal Limited Dashmeet Rana Company Secretary & Compliance Officer Enclosed: As above Vedanta Aluminium Metal Limited REGISTERED OFFICE: Vedanta Aluminium Metal Limited, C-103, Atul Projects, Corporate Avenue New Link, Chakala MIDC, Mumbai, Maharashtra, India, 400093 | Ph: +91 11 4226 2300 CIN: L24202MH2023PLC411663 | Email: vaml.sect@vedanta.co.in | website: www.vedantaaluminium.com Vedanta Aluminium posts stellar Q2: Profit doubles to ₹6,187 Cr, EBITDA rises 83% YoY • Revenue at ₹22,066 crore, up 41% YoY • 2nd consecutive quarter with EBITDA exceeding ₹10,000 crore achieved, despite softening in LME prices • Highest-ever quarterly aluminium production at 649 KT, up 5% YoY & 3% QoQ • Net debt reduced by ₹3,090 crore QoQ, with Net Debt/EBITDA improving to 0.7x Mumbai, 28th October 2026: Vedanta Aluminium Metal Limited (BSE: 544780 & NSE: VAML), India’s largest aluminium producer, today announced its unaudited financial results for the quarter and half year ended 30 September 2026, delivering solid financial results and record operational performance, underpinned by highest-ever production levels, enhanced cost competitiveness, and continued progress on strategic integration initiatives. Revenue increased to ₹22,066 crore, up 41% YoY, supported by higher volumes and improved marketing mix. EBITDA stood at ₹10,192 crore, up 83% YoY, with an EBITDA margin of ~46%. Profit after tax stood at ₹6,187 crore, more than doubling YoY with an increase of 105%. Vedanta Aluminium (VAML) further strengthened its balance sheet during the quarter, reducing net debt by ₹3,090 crore QoQ, with Net Debt/EBITDA improving to 0.7x from 0.9x in Q1FY27. The company’s robust credit profile was further validated with India Ratings upgrading its credit rating to AA+ (Stable), alongside rating reaffirmations from ICRA and CRISIL. Operationally, Vedanta Aluminium achieved its highest-ever quarterly aluminium production of 649 KT, up 3% QoQ and 5% YoY. Value-added production reached a record 432 KT, increasing 31% YoY, while alumina production scaled a new quarterly high of 895 KT, up 37% YoY. Advancing its integration strategy, Vedanta Aluminium continues to build one of the world’s most competitive and fully integrated aluminium businesses, strengthening its resource security while progressing capacity expansion across the value chain. During the quarter, the second zone of the 435 KTPA BALCO expansion was operationalised, and Consent to Operate (CTO) was obtained for the Sijimali Bauxite Block. These milestones mark continued progress in the company’s capacity expansion and resource-security initiatives. Commenting on the company’s Q2 performance, Rajesh Kumar, Whole-Time Director & CEO, Vedanta Aluminium, said, “Our performance this quarter reflects the continued momentum in scaling Vedanta Aluminium into a globally competitive, integrated aluminium business. We achieved record aluminium and alumina production while making tangible progress across our growth and integration initiatives. The operationalisation of the second zone of BALCO’s expansion, alongside progress on securing our bauxite resources, reinforces the robust foundation of our integrated value chain. As we scale our operations, our focus remains on disciplined execution, cost competitiveness and an expanding portfolio of Sensitivity: Public (C4) value-added products, enabling us to create enduring value for our stakeholders and meet the growing demand for aluminium.” Anup Agarwal, CFO, Vedanta Aluminium, said, “We sustained our earnings momentum in Q2, with revenue of ₹22,066 crore, EBITDA of ₹10,192 crore, and PAT of ₹6,187 crore. Importantly, disciplined cash generation and capital management enabled us to reduce net debt by ₹3,090 crore during the quarter, improving Net Debt/EBITDA to 0.7x. The ratings upgrade and reaffirmations further strengthens our financial profile. With a healthy balance sheet and continued progress across our growth and integration projects, we remain well positioned to fund our strategic priorities while maintaining financial discipline.” Financial Performance (In ₹ Cr) 2Q 2Q %Change 1Q % Change 1H 1H Particulars FY27 FY26 YoY FY27 QoQ FY27 FY26 Revenue 22,066 15,670 41% 21,105 5% 43,171 30,227 EBITDA 10,192 5,582 83% 10,499 (3%) 20,691 10,062 EBITDA Margin 46% 36% 11% 50% (4%) 48% 33% Depreciation & Amortization (802) (699) 15% (775) 4% (1,577) (1,400) Finance Cost (911) (949) (4%) (1,001) (9%) (1,912) (1,949) Investment Income 246 113 158 405 213 Exchange & Others 21 (14) (49) (28) PBT Before Exceptional Items 8,747 4,033 117% 8,832 (1%) 17,579 6,926 Tax Charge (2,197) (1,021) 115% (2,235) (2%) (4,432) (1,752) PAT Before Exceptional Items 6,550 3,012 117% 6,597 (1%) 13,146 5,174 Exceptional Items (Net of Tax) (363) - - (363) - Profit After Taxes 6,187 3,012 105% 6,597 (6%) 12,784 5,174 APAT 5,167 2,373 118% 5,629 (8%) 10,796 4,154 • Revenue o Consolidated Revenue at ₹22,066 Cr, up 5% QoQ & 41% YoY, due to higher volumes & improved marketing mix. • EBITDA o EBITDA down 3% QoQ & up 83% YoY to ₹10,192 Cr driven by higher volume & marketing contribution. This was supported by favorable forex movement and offset by a sequential decline in LME. • Depreciation & Amortization o Depreciation & Amortization at ₹802 Cr, up 4% QoQ & 15% YoY, in line with asset capitalization • Finance Cost o Finance cost at ₹911 Cr, lower by 9% QoQ & 4% YoY, on account of lower average borrowings Sensitivity: Public (C4) • Profit After Tax o PAT at ₹6,187 Cr, lower by 6% QoQ & up 105% YoY, reflecting EBITDA performance ESG Highlights • Vedanta Aluminium advanced its sustainability agenda in Q2 FY27, with renewable energy consumption increasing to 415 MW from 312 MW in Q2 FY26, taking renewable energy share to 9% from 7.3%. GHG intensity improved to 16.42 from 16.54 in Q1 FY27, while operational smelters achieved water positivity of 1.06. The quarter also saw continued progress across water stewardship and circular economy initiatives, reinforcing the journey towards lower-carbon, resource-efficient operations. Awards & Recognitions • Sustainability & CSR o BALCO received national recognition for Excellence in Energy Conservation at the 3rd Convention on Energy Conservation, 2026 by the Quality Circle Forum of India o Vedanta Aluminium, Jharsuguda recognized at the CII Energy Efficiency Summit 2026 o Gold Award for Vedanta Aluminium, Lanjigarh at the 12th Greentech CSR India Awards 2026 for its watershed and livelihood initiative ‘Project Sangam’ • Safety & Business Excellence o Vedanta Aluminium, Jharsuguda awarded the British Safety Council Five-Star Occupational Health and Safety Audit Award for TPP, CPP, & Smelter units o Gold Award for Vedanta Aluminium, Lanjigarh at the 8th ICC National Occupational Health & Safety Awards 2026 o BALCO secured the Platinum award for [Showing first 8,000 characters — download PDF for full document]