Tata Power Company Limited · NSE:TATAPOWER
Tata Power — Investor Presentation (December 2025)
81 slides from Tata Power's investor presentation, December 2025
Slide 1: Powering Progress. Shaping Tomorrow.
POWERING PROGRESS. SHAPING TOMORROW.
Slide 2: The Tata Power story
«a TATA POWER TATA i us Indian power Spotlight: . yj sector: ' Odisha Power Sustainability: “a Structural Distribution At the core of growth story all that we do The Tata Power story Tata Power: Our growth drivers 13 “TA Click on @ to explore
Slide 3: The Tata Power story
, The Tata Power story
Slide 4: India's largest vertically-integrated power company
TATA TATA POWER India’s largest vertically-integrated power company Generation | | | ; | Renewables Generation 10.4 cw Under-construction/Pre Project 16.0 cw Installed Capacity ~26.3 cw Transmission rd 4,736 ckm Operational Transmission lines Total Capacity Entirely Clean & Green RE5.8GW 17.5 cw 7.1
Slide 5: Financial performance consistently improving over the years
TATA POWER Financial performance consistently improving over the years Revenue (in = Cr) 33,233 H1FY26 FY 25 FY 24 FY 23 FY 22 FY 21 64,502 61,542 56,033 42,576 33,239 Reported PATA (in = Cr) 2,508 H1FY26 FY25 4,775 4,280 3,810 FY24 FY23 FY22 2,156 1,439 FY21 EBITDA (in Z Cr) 7,961" H1FY26 FY25 14,4
Slide 6: With rising contribution from our core businesses
TATA POWER TATA ...With rising contribution from our Core businesses Revenue (2 Cr) EBITDA (2 cr) Reported PAT (& Cr) H1FY25, H1FY26 H1FY25 H1FY26 H1FY25 H1FY26 j i} -10% EA 6% me Thermal & Hydtd / 1,070 061 765 718 cererton = a hUe 61% EY 82% CY 3,142 1,042 1,956 573 = | = a 5% EY 10% ES 2,874 oO 1
Slide 7: Indian power sector: Structural growth story intact
«a TATA Indian power sector Structural Growth Story Intact
Slide 8: May 24 Nov 24 Mar 25
0.44 0.55 0.69 0.87 1.06 1.24 1.40 1.46 45% 55% 60% 65% 70% 75% 80% 85% 50% Apr 24 May 24 Jun 24 Jul 24 Aug 24 Sep 24 Oct 24 Nov 24 Dec 24 Jan 25 Feb 25 Mar 25 Apr 25 May 25 Jun 25 Jul 25 Aug 25 Sep 25 Oct 25 50% 59% 63% 57%
Slide 9: Strong pipeline: 500 GW 2030 target
TATA POWER « TATA Strong pipeline: 500 GW 2030 target implies ~50 GW capacity additions each year 500 GW by 2030 Installed non-fossil fuel based capacity target 251 GW Installed by Nov 2025 130 GW Solar 54 GW Wind 11 GW Biomass 5 GW Small Hydro 51 GW Hydro Power ° ° In pipeline 148 G\ of projects un
Slide 10: Peak power and energy storage requirement
« TATA POWER TATA Peak Power to cross 450 GW by 2032, Energy Storage Crucial to meet Peak Power Requirement Peak demand (GW) and peak power deficit (%) Energy Storage requirement to be 396 GWh by 2032 10.0 500 458 90 | ¢ 450 so} ° 400 70 L 350 L 296 60 300 236 ; 242 5.0 as 47 250 Beet 175 40 ", 200
Slide 11: Transmission sector poised for massive growth
TATA POWER Transmission Sector poised for massive growth Transmission lines capacity (In Ckm) - Hits and Misses 106% 100% FY21 FY22 FY23 m@mmTarget mmm Actual FY24 —e% achievement %9.2 tn Transmission Capex anticipated (FY25-32E) Intra-State, $2.7 tn Inter-State, %6.6tn Inter-State Transmission Syst
Slide 12: Sikkim Arunachal Pradesh Nagaland
Sikkim 55 Arunachal Pradesh 50 Nagaland 47 Ladakh 42 Mizoram 39 Jharkhand 31 Tripura 24 Maharashtra 24 Delhi (NDMC) 23 Madhya Pradesh 23 Rajasthan 22 Andaman & Nicobar… 21 Bihar 20 Telangana 19 Puducherry 18 Meghalaya 18 West Bengal 17 Uttar Pradesh 16 Chhattisgarh 16 Uttarakhand 15 Assam 14 Manipur
Slide 13: Key growth drivers
« TATA POWER ; TATA Key growth drivers Steady Conventional Business aiding Clean Transition Legacy of more than 100 years Accelerating growth in Transmission & Distribution » With a large addressable opportunity Getting Future Ready Advancing newer Technologies and Businesses Supported by Strong Cas
Slide 14: Slide 14
Slide 15: Presence across all modes of conventional generation
Presence across all modes of conventional generation • • • • • •
Slide 16: Thermal and hydro operations and financials
Plant Availability (%) Plant PLFs (%) 73 76 74 76 98 99 99 96 100 88 90 87 47 40 40 40 FY23 FY24 FY25 H1FY26 FY23 FY24 FY25 H1FY26 Thermal Ex Mundra Mumbai Hydro Thermal Ex Mundra Mumbai Hydro PAT (₹cr) Revenue (₹cr) EBITDA (₹cr) 1,497 1,505 2,271 10,042 2,060 1,234 9,371 8,342 1,834 718 4,222 961 F
Slide 17: Mundra financials and operational parameters
Revenues (₹cr) EBITDA (₹cr) 11,397 10,243 2,123 8,169 1,508 1,073 2,958 499 FY23 FY24 FY25 H1FY26 FY23 FY24 FY25 H1FY26 PAT (₹cr) Mundra Plant Operational Parameters (%) 2,415 80 70 66 65 56 45 1,078 32 35 577 -215 FY23 FY24 FY25 H1FY26 FY23 FY24 FY25 H1FY26 PLF Generation Availbility
Slide 18: Clean and green portfolio: presence across value chain
TATA POWER TATA Clean And Green Portfolio —-Presence Across Value Chain C Manufacturing EPC In house EPC Capability 5 GW of Cell and Module Manufacturing * — Utility scale EPC projects Facility + — C&l Projects + — Rooftop EPC (da le \ ~ LLAMA Hata) \\\ Planning 10 GW of Ingot and Focusing on inhous
Slide 19: Slide 19
Slide 20: Module and cell production
Module Production (MW) Cell Production (MW
Slide 21: Solar manufacturing: EBITDA and PAT ~3x YoY in H1 FY26
Solar Manufacturing: EBITDA and PAT became ~3 times YoY in H1 FY26
Slide 22: Solar value chain dominated by Chinese presence
Up Stream Down Stream POLY-SILICON chunks Wafers are polished Cells are stringed, SILICA is the 2nd most POLY-SILICON (ultra pure are melted into liquid Ingots are sliced into and chemically laminated and enclosed abundant material on earth. Silicon) is the initial building form and then pulled very
Slide 23: tatapower.com
23 tatapower.com tatapower.com
Slide 24: Scaling up of rooftop business
«a TATA Scaling up of Rooftop business G)
Slide 25: Rooftop solar revenue and EBITDA
Rooftop Solar Revenue and EBITDA (₹ cr) 2,210 1,956 293 289 FY25 H1 FY26 Revenues EBITDA 1,007 1,133 1,242 1,116 Order Book at the Orders received in Q2 reported Order Book at the end of Q1FY26 Q2 revenue end of Q2FY26 25 tatapower.com tatapower.com
Slide 26: Solar rooftop revenue to grow at ~38% CAGR FY25-30E
« TATA POWER TATA Solar Rooftop revenue estimated to grow at a CAGR of ~38% between FY25-30E > z= 30,000 Crore Revenue in next 5 years ~ 38% CAGR FY —___________ >11,000 >7,000 >4,000 2,210 FY25 FY26E FY28E FY30E 26
Slide 27: Generation capacity
« TATA Generation Capacity (©) - Transitioning to Clean & Green portfolio including Hydro and PSP
Slide 28: Total clean and green capacity
Total Clean and Green rd 17.5 aw Clean & Green Energy (Incl. Under Construction & Planning) [1 [1 Under construction Operational (Entirely Clean & Green) Operational Capacity 7,092 mw 4,736 mw |1,034mw 443 mw Operation - Clean & Solar Wind Hydro Waste Heat Recovery Green /BFG Operational Capacity (M
Slide 29: Strong pipeline of hybrid/FDRE projects
« TATA POWER TATA Strong Pipeline of Hybrid/FDRE Projects SJVN 460MW NTPC 200MW MSEDCL400MWPHIV SJVN RTC 88MW Tata Power Mumbai FDRE FDRE Hybrid Hybrid DISCOM 80 MW Tariff (€/unit) 438 e 471 * 3.60 ® 491 ° 477 e-RA date e 7Nov 2023 ° 22 Mar 2024 e 16 Aug 2024 © 27 Feb 2025 e 19 Aug 2025 Installed ca
Slide 30: Unlocking Bhutan's hydro power potential
TATA POWER « TATA Tata Power - Unlocking Bhutan’s Hydro Power Potential Bhutan Vision 2040 3% Hydro ~~ 15 GW “Solar = 5 GW 400 KV Line —— _ 220KVLine f Tata Power Proposed \Y 7 Hydro Projects - 5000 MW \ Existing Hydro station Chamkharchhu - IV Nikachhu ii 118 MW 364 Bumthany ad Khorlochhu Hydro 600
Slide 31: Operational capacity - Bhutan
Operational Capacity - Bhutan Dagachhu hydroelectric plant • Commissioned in 2015 • Capacity – 126 MW • Tata Power Stake 26% 31
Slide 32: Progress at Khorlochhu HEP (600 MW)
« TATA POWER TATA Strategic Expansion in Bhutan - Progress at Khorlochhu HEP (600 MW) DT Inlet - Portal Development Khorlochhu HEP Site Diversion Tunnel from Outlet Desilting Chamber - Inlet Tunnel 32
Slide 33: Bhivpuri PSP 1,000 MW
1,000 mw Bhivpuri PSP Type Upper Reservoir Lower Reservoir Daily generation Capital investment Timeline Lower Reservoir Approach Road Approach @ to Surge Shaft wea! Road to BFV ee i Rai5* e Surge Shaft Di ion boundary * Existing 72MW Hydroelectric Power Plant quanel < Upper Intake Reservoir
Slide 34: 1,000 MW Bhivpuri PSP project update
TATA POWER 1,000 MW Bhivpuri PSP - Project Update Upper Intake Lower Reservoir 34
Slide 35: Shirwata PSP: construction expected mid-2026
TATA POWER Shirwata PSP: Construction expected to begin in Mid-2026 Shirawta PSP 1900 MW. Shirwata PSP Type Off-stream Upper Reservoir New -15 MCM Lower Reservoir Existing Shirwata Dam 197 MCM Daily generation 10,800 MWhr Capital investment %7,850 Cr Shirawta Dam,- 4 Timeline Bees. Prange te » By Pr
Slide 36: Planned PSP sites
573 MCM Mulshidam 3,000 mw Nenavali, Mulshi dam Upper Reservoir 72 MCM Walwhan dan, Raigad 3,000 mw Kataldhara, walwhan dam Upper Reservoir 6 MCM Kundali dam, Khopoli 348 MCM Thokarwadi dam, Bhivpuri 3,000 mw Potalpali, Thokarwadi dam Upper Reservoir 12 MCM Lonavala dam, Khopoli
Slide 37: Target capacity for FY2030
TATA POWER Target Capacity for FY2030 What we aim to achieve >30 aw Total operational capacity by FY30 >20 aw Operational Clean & Green capacity by FY30 >5 cw wn In pipeline by FY30 ~) What we have achieved ~7.1 cw Clean & Green capacity ~10.4 aw Under construction Source: Tata Power Estimates TATA
Slide 38: EZ Charge: growth across all segments
TATA POWER TATA Tata Power EZ Charge: Showcasing Stellar Growth Across All Segments Public Charging Home Stations Charging (PCS) Bus & Truck Charging Fleet Charging * 2X growth in utilization * 1.5X Growth over last year from PCS over last FY YTD Nov-25 * India’s largest Public * Market leader with
Slide 39: Accelerating growth in transmission and distribution
«a TATA POWER TATA | Key growth driver G) Accelerating growth in Transmission and Distribution
Slide 40: Slide 40
Slide 41: Transmission lines operational and under construction
4,736 ckm 2,349 ckm 1,317 2,328 1,091 2,349 ckm ckm ckm ckm Currently, Mumbai Transmission Business constitutes ~80% of total Transmission Division Profit after Tax
Slide 42: Transmission revenue, EBITDA, PAT and capex
Revenue (cr) EBITDA (&cr) 1412 1,261 906 985 14111 799 1,003 662 625 478 FY22 FY23 FY24 FY25 H1 FY26 FY22 FY23 FY24 FY25 H1 FY26 PAT (&cr) Capex Done/Planned (&cr) 1,000 cr- 1,500 cr per annum 303 318 316 997 227 742 186 654 FY22 FY23 FY24 FY25 H1 FY26 FY24 FY25 FY26e FY27e FY28e FY29e FY30e
Slide 43: ~2,500 ckm of TBCB transmission projects
TATA POWER TATA Operational ~2,500 ckm of TBCB Transmission projects | 4,736 cum Project Tata Power Stal Operational Transmission lines FY 2028 _ Gopalpur Transmission 100% 377 Ckt Kms Q3 FY2028 . 9 Limited Under-Construction FY 2027 Paradeep Transmission r) Limited 100% 384 Ckt Kms Q3 FY2027 2,349
Slide 44: Transmission network growth by voltage
2,49,585 2,48,999 2,35,771 2,28,596 2,07,970 2,12,884 1,14,719 87,581 57,323 34,887 19,375 19,455 Current FY27E FY32E HVDC (± 320 kV/ 500 kV/800 kV Bipole) 765 kV 400 kV 230/220 kV 44
Slide 45: Over ₹1,00,000 crore of capex anticipated
CEA Est. Capex ISTS / Intra- Year of Anticipated Project S.No. Project Name (₹ Cr) State Scheme Geography Transmission System for evacuation of 1 additional RE power from Barmer-II (6 GW 24,974 ISTS FY27 Rajasthan, Maharashtra Solar) Transmission System for evacuation of 6 GW RE 2 21,211 ISTS FY27 G
Slide 46: Distribution
«a TATA POWER TATA Key growth driver G) Distribution
Slide 47: Largest private distribution utility in the country
« TATA POWER TATA Largest Private Distribution Utility in the Country Mumbai Delhi Odisha Others Distribution Distribution Distribution TP Ajmer Distribution Ltd Serving 0.8 million customers Serving 2.1 million customers Serving 9.7 million customers Serving 0.2 million customers Regulated Business
Slide 48: Mumbai distribution financial performance
0.48% FY23 Financial Performance (¥ cr) 4,388 4A18 2,307 635 en 240 250 209 107 i. a... —=— FY24 FY25 H1 FY26 Revenue SEBITDA PAT AT&C 0.51% 0.37% FY24 FY25 HI FY26 0.41% Efficient Operations 99% 100% 99% 101% 99% 101% 99% 100% FY23, FY24 FY25 H1FY26 Billing efficiency = Collection efficiency Capex
Slide 49: Delhi distribution financial performance
Efficient Operations Financial Performance (&cr) 10,625 10,206 10,556 100% 100% 100% 100% 94% 94% 95% 94% 5,547 1,306 1,337 1,649 P| 440 P| 453 H 842 894 agg FY23 FY24 FY25 HI FY26 FY23 Fv24 rvs HI FY26 Revenue EBITDA = PAT Billing efficiency _™ Collection efficiency AT&C Capex done/Planned (cr) 6.3
Slide 50: Spotlight: Odisha distribution success story
« TATA Spotlight: Odisha Distribution a success story...
Slide 51: Odisha Discoms
01. 08. Identifying New customers/ Cross Customer offering (Rooftop/EV Charger) 02. 07. Metering Reliable Odisha Power Discoms 03. 06. Billing AT&C loss Reduction 04. 05. Collection Network Upgradation
Slide 52: Odisha Discoms: before and after technologies
BEFORE AFTER ▪ 24X7 Monitoring of at 33 kV level ▪ 773 substations connected Real-time Monitoring through SCADA through PSCC ▪ SCADA and Advanced Distribution Management System ▪ Geographical Information System ▪ Energy Audit & Weather Monitoring Key Technologies ▪ Satellite Communication Used ▪ A D
Slide 53: Odisha Discom - network improvement
« TATA POWER TATA Odisha Discom - Network Improvement BEFORE AFTER f | a Capital Expenditure Targeted network upgradation Outcome Reliable Power Lower Technical Losses Incremental return on regulated equity 53
Slide 54: Transformations of stores: improved fault restoration
TATA POWER TATA Transformations of Stores: Improved Fault Restoration and Maintenance BEFORE
Slide 55: Odisha Discoms - financial performance
TATA POWER Odisha Discoms - Financial Performance Odisha Discoms - Consolidated Financial Performance (¥ crores) a 19,692 AT&C Losses reduced 18,434 5081 i by 1.7% vs prior 16,460 : | Period in FY26 440 12,777 1,526 ' 308 10,363 umn 1272 / 383 279 1 ; L ; L EBITDA PAT Revenue M@ FY22 Mi FY23 MFY24 M
Slide 56: Odisha Discoms - financial performance by company
TATA POWER Odisha Discoms - Financial Performance TPCODL Financials 6106 | ! 5,450 i i : 599 4791 H H 150 4,059 : : i 423 i i 307 i 5 243 : 63 i 29 : : 13 H H = Revenue EBITDA PAT TPWODL Financials 7,085 , : 6,829 | : 6,254 : : : 514 8 4,307 : 385 : 3 73 L | | L Revenue EBITDA PAT (% crores) TPSODL
Slide 57: Significant improvement in AT&C losses
TATA POWER TATA Significant improvement in AT&C losses in a short span of time Tata Power Central Odisha Distribution Ltd. (TPCODL) Fy21 FY22 FY23. -FY24 = FY25--FY26-«-FY27.—««FY28.—FY29.—s«FY30.—«FY311 Tata Power Northern Odisha Distribution Ltd. (TPNODL) 19.2 17.1 oo es 15.0 e. 138 128 118 10.9 1
Slide 58: Capex and regulated equity build-up for Odisha
« TATA POWER TATA Capex and regulated equity build-up for Odisha over the next few years Odisha regulated equity to rise by 62% between Odisha capex (~& Cr) FY25-30E 2,285 Addition of Rs 400 cr/year Rs.1,300-1,400 crore capex expected every year 1295 1,235 5,000 835 3,087 7 ' ~ | FY21 FY22-FY23.—«FY
Slide 59: Distribution sector: poised for significant growth
« TATA POWER TATA Distribution Sector: Poised for significant growth
Slide 60: Distribution reform options and draft Electricity Bill
3 options Key recommendations 01 Equity Divestment (Min. 51%) Debt restructuring of the Divest equity and allow Management Utility to be carried out participation by strategic control by the alongside GoI support for partner. strategic partner investment in and Debt takeover infrastructure by State
Slide 61: Potential distribution opportunities
Potential Distribution opportunities ~13 Mn ~40 Mn Customers across 7 DISCOMS Customers by FY30 1 Uttar Pradesh Rajasthan 2 Consumers: 1.50 Cr Consumers: 3.29 Cr Energy sales: ~80 BUs Energy sales: ~108 BUs Revenue: ₹64,778 Cr Revenue: ₹90,085 Cr Geography covered: Pan Rajasthan 2 2 Regions expected
Slide 62: Getting future ready
«a TATA Key growth driver G) _ Getting Future Ready Advancing newer Technologies and Businesses
Slide 63: Early-stage development of next-generation technologies
TATA POWER « TATA Advancing Early-Stage Development of Next-Generation Technologies Perovskites Advanced Battery Chemistries * Zinc-lon Batteries * Sodium lon Batteries * Redox Flow Batteries Manufacturing opportunity for Solar Cell Sustainable Non-Si Solution + Integration of Perovskites with CSi +
Slide 64: Next-generation technologies: SMR, robotics, superconductor
« TATA POWER TATA Advancing Early-Stage Development of Next-Generation Technologies Small Modular Reactor Robotics Applications Superconductor Lowest CO2 emission across the value chain * Generation * Offers 10x capacity vs same conduit India aiming100 GW Nuclear Power by 2047. * T&D * 95% reduction
Slide 65: District cooling
• • • • • • • • • • • • • • • *District cooling plant = 20,000 TR, Diversity considered as 60% in sizing a district cooling plant, as per Market Assessment *TR – Ton of Refrigeration
Slide 66: Unique features of platform
• • • • • • • • • Power Planner Carbon Accounting & ESG Reporting Renewable Asset Mgmt. Renewable Generation In-house renewable generation Energy Guzzling Processes / Devices Fossil Fuel Generations Energy Under Management 10 BU Grid Supply Establishment Network • • In-house fossil fuel • • generati
Slide 67: Leadership development and workforce training
Business wise - Employees Age Wise - Employees Gender Wise - Employees 23,623 23,623 23,623 • Collaboration with premier institutes such as IIM, XLRI, and SPJIMR for Leadership Development Programs across Junior, Middle and Senior management • Focussed training programs on Digital & AI to create fut
Slide 68: Strong cash flow generation
TATA Key growth driver ‘S) » Strong Cash Flow Generation Healthy balance sheet & leverage
Slide 69: Credit rating (consolidated)
Credit Rating* FY22 FY23 FY24 FY25 Current (Consolidated) CRISIL AA /Stable AA /Stable AA /Positive AA+/Stable AA+/Stable India Ratings AA /Stable AA /Stable AA+ /Stable AA+/Stable AA+/Stable ICRA AA /Stable AA /Stable AA /Positive AA+/Stable AA+/Stable CARE AA /Stable AA /Stable AA /Positive AA+/St
Slide 70: Profitable operations driving growth
TATA POWER TATA Profitable Operations Driving Growth Regulated Equity : Assured Returns Robust Cash PAT Generation (€ cr) 13,320 8,709 9,464 8,145 10,956 11,801 9,828 8,707 4,823 4,064 4,037 | FY 2020 FY 2021 FY 2022 FY2023 FY2024 FY 2025 Cash PAT = PAT+ D&A +Deferred Tax. FY 2020 FY2021 FY2022 FY20
Slide 71: TATA POWER TATA
TATA POWER TATA
Slide 72: >₹1.25 tn capex estimated between FY26-30
@p TATA POWER TATA >F1.25 tn capex is estimated between FY26-30 with ~65% on Clean & Green Estimated capex of ~%1,25,000 Cr between FY26-30E ~65% of the capex to be spent on Clean & Green between FY26E-30E (% share) (~= Cr) Thermal excl Equity mae. Mundra, Coal & investments in 19 Shipping Bhutan Hy
Slide 73: Well poised to achieve our aspirations
TATA POWER Well poised to achieve our aspirations aa Generation Transmission —a Distribution FY 2025 What we have achieved ~15.7 cw Total capacity (incl. thermal capacity) ~7 aw Clean & green capacity 7,047 ckm Transmission lines (Operational & under-construction) 12.8 mn oe Distribution to customer
Slide 74: At the core of everything we do
TATA POWER At the core of a . everything SGa@ we do
Slide 75: Our sustainability aspirations
TATA POWER Our sustainability aspirations Become Net Zero by Become Water Zero Waste to Landfill a 2045 Neutral by 2030 by 2030 Education: Employability and Entrepreneurship : Train 21 lakh+ peoplein Employment: Enable 35,000+ digital & financial inclusion by 3-76 lakh+ youthto be | community collec
Slide 76: ESG ratings
2025 2024 2023 2022 2021 2020 2019 B B B C C D B- B B B B C F 76* 68 67 67 67 - 48 (Higher score is better) A A BBB BBB BB BB BB 39.4 37.4 38.5 41.2 38.6 - - (Lower score is better) As of 30th Sep 2025; Dates of published ratings: CDP – February 2025; S&P-CSA – November 2024; MSCI – April 2025; Sust
Slide 77: Achieving 100% clean and green generation by 2045
« TATA POWER TATA Achieving 100% Clean & Green power generation by 2045 2015 2025 2030 2045 Largely a coal-based company, Transitioning towards a clean Clean & Green capacity will account — Transition away from thermal having capacities to fulfil the and green portfolio through for at least 70% of o
Slide 78: Structure to monitor sustainability goals
TATA POWER TATA Well-established structure to monitor Sustainability Goals Our CSR and Sustainability Committee at the Board level guides the strategy, and the Apex Leadership Team enables its impactful implementation / Leadership and Oversight on Sustainability Advocacy Leadership Initiatives that
Slide 79: • • • • • • • • • • • • • •
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Slide 80: Slide 80
Slide 81: Investor Relations
TATA POWER px “Investor Relations = @ e Mr. Soundararajan Chief - Treasury & Investor Relations Email: kasturis@tatapower.com, Mr. Anshul Verdia Head — Investor Relations Email: anshul.verdia@tatapower.com www.tatapower.com
Tata Power Company — Investor Presentation (December 2025) on 6ix