CORPORATE PRESENTATION

December 2023

VEDANTA LIMITED

TRANSFORMING TOGETHER

Inclusive. Responsible. Value-accretive delivery

Sensitivity: Internal (C3)

Vedanta Limited - Overview

Globally diversified natural resources powerhouse

Aluminium | Zinc-lead-silver | Oil & Gas | Iron & Steel | Power | Copper

Ferro Chrome | Nickel | Semiconductor and Display

$18 Bn

FY23 Revenue

$11 Bn

Dividend over the last decade

1st quartile

In cost curve across key segments Committed to

ESG leadership

"Net Zero by 2050 or sooner"

$32 Bn

$4.4 Bn

FY23 EBITDA

$14 Bn

Capex over the last decade

25+ years

Mine life

AA- rating

CRISIL and India Ratings

87,500+

Exchequer contribution in last 5 years Total Workforce

Group Structure

Listed Entities

VEDL Standalone Assets

Vedanta Resources Limited

Vedanta Limited (63.7%)

Vedanta Limited (63.7%)

Konkola Copper Mine (79.4%)

Aluminum

  • Largest capacity in India with captive power and an alumina refinery
  • Globally, 9th largest by smelting capacity

Lanjigarh Jharsuguda

Refinery Smelter

BALCO (51%)

Power

One of the largest private sector power generators

TSPL (100%)

Oil & Gas

  • India's largest private sector crude oil producer
  • Strong exploration fundamentals

Cairn Oil and Gas*

Zinc & Silver

  • One of largest fully integrated zinc-lead players globally
  • 5th largest silver producer
  • Rampura Agucha - largest underground mine globally
  • Gamsberg, one of the largest deposits in the world

Hindustan Zinc (64.9%)

Zinc International

Iron & Steel

  • One of the largest Indian private sector exporter of iron ore

Sesa Iron Ore

Sesa Coke

ESL Steel (95.5%)

FACOR (99.99%)

Copper

  • One of the largest custom smelters in India

Sterlite Copper

NICOMET

Avanstrate

(51.6%) Glass

Semiconductor and

Display (100%)

BALCO: Bharat Aluminium Corporation; TSPL: Talwandi Sabo Power Limited

3

Vedanta Limited

*50% share in the RJ Block is held by a subsidiary of Vedanta Limited

Investor Presentation December 2023

Investment Case

Vedanta is

uniquely

positioned to

deliver long

term sustainable

value

Vedanta Limited

Investor Presentation December 2023

1

World-class natural resources

powerhouse

2

Well positioned to capitalize on

India's growth

3

Proven track record of operational

excellence with well invested assets

4

frameworkDisciplined capital allocation

5

Committed to industry leadership

in ESG

6 Robust financial profile

7

Focused on digitalization and

innovation to drive efficiency

4

1a

World class diversified natural resource powerhouse

ALUMINIUM BUSINESS

LANJIGARH | JHARSUGUDA | KORBA

2 MTPA

1.8 MTPA

0.6 MTPA

INDIA

ZINC-LEAD-SILVER BUSINESS

SMELTERS: CHANDERIYA → 675 KTPA

DARIBA→ 360 KTPA

DEBARI → 88 KTPA

MINES: RAMPURA AGUCHA | ZAWAR |

RAJPURA DARIBA | SINDESWAR

KHURD | KAYAD

EAST ASIA

Glass

OIL & GAS BUSINESS

UAE

INDIA

Fujairah Gold

MULTIPLE

MANGALA | RAVVA | CAMBAY

LIBERIA

KG ON/OFFSHORE

IRON ORE PROJECT

COPPER BUSINESS

WESTERN CLUSTER

NAMIBIA

2

SILVASSA | TUTICORIN

SCORPION MINE

216 KTPA

400 KTPA

1

2

4

2

23

POWER BUSINESS

2

SOUTH AFRICA

COPPER

BLACK MOUNTAIN MINE

SALEM | TALWANDI SABO

ALUMINIUM

GAMSBERG

1,980 MW

POWER

IRON ORE BUSINESS

IRON ORE

GOA | KARNATAKA | ORISSA

ZINC

OIL & GAS

24

OTHERS

GLASS

25

GUJARAT | VAZARE |

MULTIPLE

26

BOKARO | VIZAG | BHADRAK

Note: Maps not to scale;

5

Vedanta Limited

Investor Presentation December 2023

1b Tier-1low-cost and long-life assets with exploration upside

POSITIONING

Zinc India

Largest integrated zinc-lead producer

Zinc International

One of the largest undeveloped zinc deposits

Oil & Gas

India's largest private-sector crude oil producer

Silver

5th largest silver producer globally

Aluminium

Strategically located large-scale assets with integrated power

Steel

Integrated Steel Producer

Iron ore4

One of the largest exporter in India

R&R Life1

FY2023

FY2024e

Full Capacity2

Production

Production

25+

1,032kt

1075-1100 kt

1.2mtpa

20+

273kt

250-290 kt

500ktpa

143

135-140

3003

kboepd

kboepd

kboepd

25+

22.9moz

~24moz

25mozpa

2,291kt

~2.3mnt

2.8mtpa

1.37mnt

1.5 - 1.6

3.0mtpa

mnt

5.4mnt

7.5 - 8.5

12mnt

mnt

Cumulative Production

Competitive Position on Cost Curve Quartiles5

I II III IV

Aluminium

Zinc

India

Zinc

International

Cost of Production

1. R&R life is as on 31st March 2023; 2. Includes announced expansions; 3. Expected capacity for currently producing assets and exploration; 4. Saleable

6

Vedanta Limited

production (Excluding IOO); 5. CY23e cost curve

Investor Presentation December 2023

2a Well-positioned to capitalise on India's economic growth & natural resources potential

India is amongst the fastest growing economy globally and is slated to be the world's third largest economy by 2027, as per IMF

Real GDP CAGR of World Largest Economies (2022 to 2028)

6.1%

4.1%

1.8%

1.7%

1.4%

1.4%

1.2%

0.9%

0.9%

0.7%

India

China

US

Canada

France

UK

Germany

Italy

Russia

Japan

India will be a key driver for the demand for commodities

Global Demand CAGR (2022-2030)

India Demand CAGR (2022-2030)

Vedanta is significantly invested in metals critical to economic

development and to the energy transition

Growth in demand for Minerals from Energy Technologies (2022 - 2050)

Copper

Aluminium

Zinc

Oil & Gas

Finished Steel

Iron Ore

2.4%

Copper

2.0%

Aluminium

1.6%

Zinc

1.0%

Oil & Gas

0.8%

Finished Steel

0.1%

Iron Ore

9.5%

4.1%

5.9%

4.2%

5.2%

4.5%

Fe

Al

Cu

Zn

3.2x

4.2x

3.1x

3.3x

Pb

Ni

Ag

Steel

3.4x

1.8x

4.5x

1.2x

• Source: IMF, Woodmac

Vedanta Limited

• Notes: Information displayed is related to VEDL consolidated business

Investor Presentation December 2023

3a Proven track record of operational excellence

Zinc-Lead

Silver

Copper

Aluminium

Steel

Power

Iron Ore

Oil & Gas

2,000

(kt)

1,800

1,600

Equivalent

1,400

1,200

Copper

1,000

Production

800

600

400

Total

200

0

FY2015

FY2004

FY2005

FY2006

FY2007

FY2008

FY2009

FY2010

FY2011

FY2012

FY2013

FY2014

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

Strong EBITDA Performance

$ 4.4 bn

$0.3 bn

FY2004FY2023

Vedanta Limited

Investor Presentation December 2023

All commodity and power capacities rebased to Copper equivalent capacity (defined as production x commodity price / copper price) using average commodity prices for FY 2023. Power rebased using FY 2023 realisations, Copper custom smelting production rebased at TC/RC for FY 2023, Iron ore volumes refers to sales with prices rebased at realized prices for FY 2023

8

3b Well invested and consolidated assets driving growth

Tuticorin Smelter

Vedanta IPO

Acquired Australian Cu

Acquired KCM

170 kt Zinc smelter

mine

Acquired BALCO

50 kt Pb smelter

Acquired HZL

150 MW Power Plant

Acquired SESA Goa

Commissioned 245 kt Al smelter and 540 MW CPP at BALCO

Commissioned 500kt VAL smelter

Commissioned 1,980MW

TSPL

Acquired ESL

Acquired Cairn India

Expansion of

Zinc India

Acquired FACOR

to 1.12 mtpa and

Acquired ZI

Acquired Nicomet

Gamsberg to 250kt

Commissioned 210kt

Entering Semiconductor

Commissioned 1250kt

Zn smelter

and Display business

JSG smelter

Pre

FY

FY

FY

FY

FY20 -

IPO

04-06

07-09

10-12

13-19

till date

Sensitivity: Internal (C3)

Aluminium Business

Vision

"Be 3 MTPA Aluminium producer with best-in-class cost position "

Vedanta Aluminium

Business to be:

100% integrated aluminum producer

First quartile cost curve producer

Top 3 primary Aluminium producer in the world ex-China

Producer with 30% low carbon 'green' Aluminium mix

  1. digitally-enabledoperator

Focused on sustainable operations

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Disclaimer

Vedanta Limited published this content on 19 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 December 2023 07:47:09 UTC.