Investor Presentation

Here's a summary of the attached file, adhering to your preferences: **1. Financial Highlights:** Consolidated Q1 revenue was Rs. 22,437 Cr (-14% YoY); EBITDA Rs. 3,786 Cr (-12% YoY). Profit was impacted by IRM/Commercial Mining volatility.

Incubating businesses' EBITDA grew 5% YoY to Rs. 2,800 Cr (74% of total), led by Airports (+61% YoY). Net External Debt/EBITDA was 1.8x. **2. Strategic Initiatives & Growth Drivers:** EBITDA unlock is anticipated from FY26 as Navi Mumbai Airport, Copper Plant, and Ganga Expressway become operational.

Initiatives include a 5 MW Green Hydrogen pilot plant, 6 GW module capacity progress, and data center advancements.

Airports secured $1.75 billion for growth. **3. Business Developments:** A subsidiary divested 10.42% of AWL Agri Business for Rs. 3,700 Cr.

A Rs. 1,000 Cr public NCD issue was fully subscribed.

Airports added 7 new routes/2 new airlines; Mining Services signed two new MDO agreements. **4. Market Position & Competitive Advantage:** AEL reinforces its premier infrastructure incubator status, validated by growing EBITDA from a diverse portfolio, notably Airports.

This model provides stability and growth, building crucial, technologically advanced infrastructure for India. **5. Investor Implications:** Expected EBITDA unlock from major infrastructure assets operationalizing from FY26 signals strong positive growth potential.

Consistent performance from incubating businesses highlights a robust model for sustained long-term value creation.