Investor Presentation

VPL/Sec./SE/26-27/32 October 29, 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: 544781 Scrip Code: VEDPOWER Sub: Outcome of Board Meeting held on October 29, 2026 – Press Release and Investor Presentation Dear Sir/Madam, In continuation to our Letter No. VPL/Sec./SE/26-27/31 dated October 29, 2026, declaring the Unaudited Consolidated and Standalone Financial Results of Vedanta Power 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 to 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.vedantapower.com The meeting of the Board of Directors of the Company commenced at 04:21 p.m. IST and concluded at 05:12 p.m. IST. We request you to kindly take the above information on record. Thanking you, Yours faithfully, For Vedanta Power Limited (formerly known as Talwandi Sabo Power Limited) Rajinder Singh Ahuja Whole Time Director & CEO DIN: 11047070 Encl.: as above Vedanta Power Reports Highest-Ever Quarterly Performance in Q2 FY27, Backed by Strong Operational Excellence; EBITDA Soars 122% and Revenue Rises 38% YoY • Record Generation into Record Earnings- YoY Revenue jumps 38%, EBITDA up 122%, Sales surged 26%, first ever positive earnings per share (EPS). • Highest ever profit growth turnaround- Q2 PAT before exceptional items grew 171% YoY to INR 101 Cr. • Asset Turnarounds drives the growth momentum- Meenakshi Energy's revival drives 111% YoY growth in Q2 power sales, while Jharsuguda records 187% growth as plant availability surges to 98%, Talwandi Sabo volume grew by 6% YoY. Mumbai, 29 October 2026: Vedanta Power (NSE: VEDPOWER; BSE: 544781) today announced its results for the quarter ended 30 September 2026, delivering its highest-ever quarterly performance, with revenue rising 38% year-on-year (YoY) to INR 2,908 crore and EBITDA surging 122% to INR 421 crore. The company also reported highest ever growth in profit, with Profit After Tax (PAT) before exceptional items up 171% to INR 101 Cr. The record performance marks a defining chapter in the company’s growth journey, as strong operational execution translates into accelerating earnings growth. The performance is equally strong on a Quarter-on-Quarter (QoQ) basis, with EBITDA up by 45%, while the profit was up 271%, on the back of highest-ever quarterly power sales, reflecting stronger generation and sales across its portfolio. Marking a significant financial milestone, Vedanta Power also recorded its first-ever positive Earnings Per Share (EPS) at 0.21, alongside a profitability turnaround to INR 101 crore before exceptional items. For the overall first half of FY27, Vedanta Power reported revenue of INR 5,515 crore, up 35% YoY, EBITDA of INR 712 crore, up 17%, and Profit After Tax (PAT) before exceptional items of INR 42 crore, up 178%. Power H1 sales rose 32% to 10,817 MU. The performance is delivered via a combination of legacy assets, alongside turnaround assets contributing significantly to power-sales and aggregate efficiency. Rajinder Singh Ahuja, CEO & Whole-time Director, Vedanta Power Limited, said, “Our highest ever Q2 performance reflects the inherent strength of our assets and the resilience of our operations, with results driven by core operational performance. Revenue of INR 2,908 Cr and EBITDA of INR 421 Cr, up 38% and 122% year on year, show that the capacity we have added is now delivering. Our first-ever positive EPS marks a turning point for Vedanta Power. Record power sales showcase our ability to supply round-the-clock power and ensure reliable and continuous power supply for our customers. Our strategy shall remain focused on deepening asset efficiency, while advancing our growth roadmap to support India’s rising demand for reliable power.” At Meenakshi Energy Limited in Andhra Pradesh, where the company restored the plant’s full 1,000 MW capacity in 2025 following its 2023 acquisition, Q2 power sales climbed 111% YoY to Sensitivity: Public (C4) 1,470 MU. Jharsuguda Independent Power Plant in Odisha reported 98% plant availability, compared with 48% in the year-ago quarter. Talwandi Sabo Thermal Plant in Punjab supplied 2,945 MUs during Q2, up 6% YoY, and recorded H1 availability of 86%. Pankaj Jha, Chief Financial Officer, Vedanta Power Limited, said, “The operational turnaround is translating into stronger profitability and a robust balance sheet. We delivered EBITDA of INR 421 Cr, up 45% quarter on quarter, and highest ever growth on PAT before exceptional items at INR 101 Cr. Higher volumes, better realisations, disciplined costs, prudent capital allocation, and financial efficiency drove this. We are building a power business that is reliable, cost-competitive and responsible. Our focus is on operational excellence, a stronger balance sheet and long-term value for our shareholders and the communities we serve. Our ratings of AA- from CRISIL and ICRA reflect stronger cash flows and treasury discipline. We will keep prioritising deleveraging and cost of funds as new capacity comes into operation." The improvement in operating performance was accompanied by stronger financial metrics. Net Debt/EBITDA stood at 4.47x at the end of Q2 FY27, compared with 5.38x in Q1 FY27 and 9.82x in Q2 FY26. The company also highlighted rating upgrades to CRISIL AA− and ICRA AA−, along with inclusion in the Nifty 500 and Nifty Smallcap 250 indices. Domestic coal linkages and contracted supply arrangements continue to support fuel and revenue visibility; at Meenakshi, these include a five-year power purchase agreement for 300 MW with Tamil Nadu Power Development Corporation Limited. Vedanta Power advanced sustainability through industry-leading biomass co-firing, 100% saline water operations at MEL, planting 9.02 lakh trees across the assets till date, reducing freshwater consumption by 51% YoY, and achieving 65% ash utilization. The company also positively impacted lives of over 1.7 lakh women and children across four states while fostering an inclusive workplace with 76% local employment. Across the portfolio, Vedanta Power continues to focus on asset reliability, organic expansion and the turnaround of acquired capacity as it pursues its ambition of becoming one of India’s top three private thermal power producers by FY33. 1. Record quarter. o Revenue is INR 2,908 Cr, up 38% YoY. o EBITDA is INR 421 Cr, up 45% QoQ and 122% YoY. o PAT before exceptional items is INR101 Cr, against a loss of INR142 Cr in Q2 FY26. o EPS is 0.21, the first ever positive EPS. 2. Volume and realisation drove growth. o Sales were 5,593 MUs, up 26% YoY. o NSR was INR 5.20/kWh against INR 4.74/kWh a year ago. Sensitivity: Public (C4) 3. Business units: o MEL: 1,470 MUs sold (+9% QoQ, +111% YoY), quarterly EBITDA of INR 101 Cr, and a push towards 100% domestic coal. o JIPP: Q2 Availability (PAF) rose to 98% against 48% a year ago. In terms of volume sold, Jharsuguda supplied 873 MUs in Q2 (+27% QoQ, 187% YoY). o Sakti: Synchronised on 25 Oct 2026. Sustained and stable operations will add to EBITDA and Free Cash. o TSTP: Q2 Availability (PAF) was 79% against 90% a year ago. In terms of volume sold, TSTP supplied 2945 MUs in Q2 (+8% QoQ, +6% YoY). 4. Stronger balance sheet. o Net Debt/EBITDA improved to 4.47x from 9.82x a year ago. o Net debt is INR 7,444 Cr, down from INR 7,704 Cr in Q1. o Cash is INR 1,063 Cr. 5. 85% long-term coal security and Highest biomass co-firing at TSTP during quarter. 6. Financial Performance (INR Cr) Q2 Q1 Q2 Particular Variance Variance FY27 FY27 FY26 Revenue 2,908 2,607 301 2,104 804 EBITDA 421 291 130 190 231 EBITDA Margin 15% 11% - 9% - Investment income 11 9 2 2 9 [Showing first 8,000 characters — download PDF for full document]