Exide Industries Ltd. — Investor Presentation 2024

Feb 6, 2024

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&IXIDI

Ref no.: EIL/SEC/2023-24/80

6[t1] [1 ] February 2024

The Secretary The Secretary The Calcutta Stock Exchange Limited BSE Limited 7 Lyons Range Phiroze Jeejeebhoy Towers Kolkata - 700 00 I Dalal Street, Mumbai - 400 00 I CSE Scrip Code: 15060 & 10015060 BSE Scrip Code: 500086 - The Secretary National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot no. C/1, G Block Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051 NSE Symbol: EXIDEIND

Sub: Investor Presentation

Dear Sir/Madam,

With reference to our letter dated 1'[1 ] February 2024, pertaining to "Non - deal Roadshow" that will commence from 7[th ] February 2024, we are now enclosing herewith the presentation based on which discussion will be carried out.

This communication 1s also being uploaded on the website of the Company at www.exideindustries.com.

No Unpublished Price Sensitive Information (UPSI) will be shared.

We request you to kindly take the same on record and acknowledge receipt

Thanking you.

Yours faithfully, For Exide Industries Limited

Digitally signed by JITENDRA JITENDRA KUMAR KUMAR MOHAN LAL MOHAN LAL Date: 2024.02.06 12:13:19 +05'30'

Jitendra Kumar Company Secretary and President- Legal & Corporate Affairs ACS No. 11159

Encl: Investor Presentation

Exide Industries Limited, Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone : (033) 2302-3400, Fax : (033) 2283-2642/37 e-mail : exideindustrieslimited@exide.co.in, www.exideindustries.com CIN: L31402WB1947PLC014919

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Exide Industries – Investor Presentation February 2024

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Agenda

1 Company Overview

• 2 Automotive Vertical

• 3 Industrial Vertical

• 4 New Business: Green Technology Solutions

• 5 Key Financial Highlights 6 Sustainability Initiatives & CSR

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Company Overview

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Company at a snapshot

10 Rs.27,000 75+ Years of Manufacturing crore+ Operations in Plants Market Cap as India on 31[st] Dec-23 66 million Presence in Automotive & Rs.14,500 60+ Motorcycle Batteries crore+ Countries Capacity p.a. Revenues 5,200+ 5.8 billion AH Rs.1,500 Employees of Industrial Power crore+ . Supply Capacity p.a EBITDA 05 252 KMT Overseas Rs.900 Technical per annum crore+ Collaborations Capacity of Three Lead PAT Recycling Plants

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Comprehensive product portfolio serving multiple applications

We manufacture batteries for multiple applications in automotive sector

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Vehicular Non- Vehicular
4-Wheeler 3-Wheeler
H-UPS
2-Wheeler E-Rickshaw
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• Wide range: 2.5 Ah for 2-wheelers to 260 Ah for Nonvehicular

• Wide range of warranty period: 12 months to 77 months (flat + pro-rata)

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We are a reliable power solution provider for all
industrial applications
Power
Exports
Solar
Industrial
applications
Railways
Traction
Projects Telecom
I-UPS
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• Industrial batteries range : 7 Ah to 3200 Ah for multiple applications

• Other application areas: Batteries for submarines

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Eminent Board of Directors and shareholding pattern

Designation

Name

Mr. Bharat Dhirajlal Shah Chairman and Independent Director

Mr. R.B. Raheja Vice Chairman and Non-Executive Director

Mr. Sridhar Gorthi Independent Director Ms. Mona N Desai Independent Director Mr. Surin Kapadia Independent Director

Managing Director and Chief Executive Officer

Mr. Subir Chakraborty

Mr. Asish Kumar Mukherjee Director Finance and Chief Financial Officer

Mr. Arun Mittal Director – Automotive

Mr. Avik Roy

Director - Industrial

Shareholding pattern as on December 31, 2023

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Others
21.84%
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21.84%
Promoters
45.99%
FIIs
12.94%
DIIs
19.23%
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Manufacturing plants: Proximity to clients drives agility & efficiency

Bawal Haridwar & Roorkee Home UPS manufacturing MC battery plant Ahmednagar Shamnagar First Exide plant MC battery plant Auto & Industrial batteries Prantij, Gujarat CML, Haldia Nexcharge plant Taloja Haldia Auto battery (SF) One of the largest integrated battery manufacturing hub in S.E. Asia CML, Supa CML, Malur Chinchwad Hosur Auto battery plant Auto & Industrial battery Auto OEM hub

Our manufacturing locations are in close proximity to the automotive clusters across the country

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Strong R&D focus leading to advanced technical products & solutions

Exide R&D Centre, Kolkata

Established in 1976, it’s one of the finest R&D centers in India

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International technical collaborations

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• Moura • Furukawa Battery • East Penn • SVOLT Energy
Batteries Company Manufacturing Technology
Co. Ltd
• Advanced Battery
Concepts
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Recent developments

Extending the punched plate technology in batteries to 2W , post successful implementation in 4W

Setting manufacturing process for making Absorbent Glass Mat (AGM) batteries, which has higher efficiency

Focus on exports : Developing customized advanced featured automotive batteries for different countries

Developed compact, high performance sealed batteries for telecom 5G network roll-out

Battery energy storage systems (BESS): R&D team developing multiple solutions for future deployment

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Our key strategic pillars: centered on sustainable growth and operational excellence

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Driving profitable growth in lead-acid battery and storage solutions business

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Taking leadership in the Green Technologies Solutions business (lithium-ion cell manufacturing)

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Driving excellence through innovation and delivering value to our stakeholders

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Enabling Digital transformation and cost efficiencies across the value chain

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Maximizing potential with a robust financial foundation

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Building a sustainable future

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Automotive Vertical

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Automotive volumes have grown at a healthy pace in 9MFY24

Overall automotive volumes grew at 6% in 9MFY24

Automobiles Production Volumes (mn)

6% 21.0

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19.8
9MFY23 9MFY24
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• All end-user segments (4Ws, 2Ws, 3Ws and CVs) have registered growth in 9MFY24

• Domestic demand was strong, though export demand was muted due to high channel inventory

Key growth drivers remain intact for near-term

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Upbeat consumer sentiments, higher purchasing power

Higher rural income, increased middle-class population Uptick in commercial and business activity, higher infrastructure spendings leading to better connectivity

Source: SIAM

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Long-term drivers indicate strong demand for technologically advanced products & solutions

Rising urbanization to create demand for personal mobility: Passenger vehicle production is expected to double in next 4-5 years

Long-term growth drivers

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Increase in business activity and infrastructure development will improve intra & inter-state connectivity: Higher demand for CVs, 2Ws and PVs

Demand for more efficient batteries to increase share of organized players: ISS batteries, EFB batteries, AGM batteries are gaining prominence

Auxiliary battery requirement for electric vehicles: Lead-acid battery is required for lights, audio system, and other equipments in an electric vehicle

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Shift in Global supply chains: China +1 strategy is expected to lead the shift towards Indian exports; enabling India to potentially increase its share in the global auto trade in next few years

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Automotive Vertical: Getting future ready

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A B
Revenue Operational C
Margin
Growth Efficiency
Expansion
•
New product launches
with technologically
advanced features • Digitalization initiatives: •
Aim to create optimum
Increasing operational
• product mix: higher
Expanding domestic reach efficiency across
share of premium
processes
• products
Exports: Expanding
•
international footprints Focus on achieving
manufacturing excellence
•
Supporting channel
partners and enhancing
customer experience
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Exide is ruling the automotive market with 3 powerful brands

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Introducing technologically advanced products as per the evolving market needs

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1
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Idle-Start Stop batteries – replacement market

2 In process of launching AGM 3 Superior and eco-friendly batteries for the OEM market products for H-UPS market

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• Higher performance

• More efficiency

• Long-Life

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• Higher efficiency

• Advanced Features

• Durable and ecofriendly

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• Unmatched performance

• Easy maintenance

• Zero-emissions and spillproof

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Expanding domestic distribution network and our global footprints

Direct & indirect pan India distributors/ dealers: sharp increase in 3 years

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95,000+
48,000+ in FY23
in FY20
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Exports: strong focus on expanding global presence

• New products with advanced features launched in few countries

• Considering private labelling and contract manufacturing

• Increasing distribution network and manpower deployment

• Actively participating in international exhibitions to increase visibility

Exclusive outlets: Exide & SF brands

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1600+ 300+
Exide SF batteries
Care Power Bay
outlets outlets
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Deepening and widening our customer reach through our distribution network

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Exide participated in Automechanika, Dubai - Largest international trade exhibition for the Automotive aftermarket industry in Middle East

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Supporting channel partners and enhancing customer experience

Empowering channel partners through digitalization initiatives

Customers: Introducing services for quicker and hassle-free solutions

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Hyperlocal marketing initiative enables dealers in attracting more endcustomers

100% of our channel partners are connected to us through Mobile apps :

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• Faster resolution with higher transparency

• Stronger after-sale support

• Ability to provide superior customer service

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Annual Maintenance Contract (AMC) services for HUPS and invertors

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Paperless warranty registration for vehicular and inverter batteries & HUPS

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Digitalization initiatives across processes for increasing operational efficiency

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Integrated business planning

Sales force Logistics and Manufacturing efficiency warehouse

• Integrated data analysis provides 100% visibility on secondary sales

• More accurate demand forecasting

• Production and dispatch • More transparency and

• planning as per demand result orientation

• pull approach by sales force

• • Better inventory • Lower turnaround time

• management and lower warranty costs

• Real-time information on • Implemented industry 4.0 for

• primary, secondary and digitalizing industries

• tertiary logistics • Efficiently monitoring of

• • Timely delivery and lower production process

• logistics costs • Manufacturing excellence

• • Online inventory tracking practices like LEAN, waste

• at warehouse minimisation, etc

• • Better inventory liquidation and lower aging of stock

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Industrial Vertical

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Mega trends across verticals: Navigating the future of business

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Renewable

Infra Investment

Data Centers

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Automation
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• Railways : 100% electrification of railway routes by FY26[2]

• Traction Battery : 10-15% electrification of Material Handling Equipments expected across industrial operating units and growth of modern warehousing

• Increasing i-cloud adoption and rising per capita data consumption

• India’s 500 GW renewable energy (RE) ambition by 2030

• Metros: Govt. impetus on infra spending - outlay for metro projects & urban infra[3]

• Growing requirement of critical load (vs. backup power) at banks, hospitals, offices etc.

• MNRE’s roof-top solar target of 40GW by 2026[1]

• Higher mix of RE driving growth of BESS solutions (e.g., utility-scale, DG replacement)

  • Robust growth of modern warehousing at >15% CAGR as per industry experts

• Telecom: 5G rollout and demand for greener infrastructure

• ~ 20% CAGR growth

• expected in data center capacity in medium-term

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Power
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• Technology integration to strengthen distribution network and increase real-time monitoring & control[4]

• Penetration of microgrids for lastmile electrification

• MNRE; 2. Ministry of Railways; 3. Union Budget 2023-24; 4.CEA

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Strategy framework: Our operating model uniquely positions us to deliver results

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Sustained Profitable Growth
Guided by our Target
Growth Focussed Return Focussed
1 2 3 4
Rooted in our Strategy Revenue Customer Operational Margin
Growth at Core Efficiency Expansion
• Focus on growing • Customer • Operational •
Manage channel/
markets outreach excellence
Reinforced by Enablers • Enhanced portfolio • Go-to market • Design-to-value • product mix
• Aligned • Expand market initiatives Premium offerings
investments coverage
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Enriched product range across verticals to address industry trends

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Data Centre Solar Standby Traction Telecom
YHP Plante Standby Power
Batteries Batteries
Upgraded Data Top of the Line
End-to-End & Rooftop Augmented Portfolio 5G Ready Batteries
Centre EHP Series Batteries for Standby
Solar Solutions in Traction for Telecom
Batteries Power
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New launches as per evolving market requirements & customer outreach for faster growth

New launches with technologically advanced features

Showcasing our prowess

Building brand resonance across the Globe

Unique front terminal range of batteries for data centre

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New range of Traction Batteries launched:

• Longer service life

• Extended working cycle

• Fast charging capabilities

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Exide NXT+ that ensures seamless power for your critical needs such as in hospitals, banks etc.

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Focusing on various levers to unlock value for margin expansion

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• Cost Optimization Margin Expansion

• • Operational Excellence: Reducing the Cost-to•

• serve through digitalised processes Manage channel/product mix: Optimal product & distribution channel mix

• • Industry 4.0 initiatives aimed at continuous real•

• time monitoring of production processes Premium offerings: Top-tier products with industry first features, disrupting the market as

• • Design-to-Value Initiatives: Using our long-standing market leaders knowledge of application and consumer insights to optimize the full product (at system level) Raise the bar on profitability

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Green Technology Solutions: Lithiumion Cells & Batteries

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India’s electrification demand expected to be 150GWh by 2030

Lithium-ion demand (GWh) in India by 2030

Key growth drivers

2025 2030 2Ws 10 - 12 40 - 45 3Ws 1.2 – 1.7 5 - 6 4 - 5 4Ws 40 - 45 0.9 – 1.2 3 - 4 LCV / HCV 1 – 1.5 4 - 5 Buses 1 – 1.5 6 - 7 Tractors Mobility Total 20-30 100-110 Stationary 20 - 25 50 - 60 Total 40 - 50 150 -160

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Strong policy & regulatory support

• Auto PLI

• • State EV policies

• • FAME extension

Market adoption drivers across user segments

• 2W & 3W : Personal, B2B, e-commerce

• 4W: Personal, taxi fleet

• CV: Last mile connectivity

• • Renewables : Increased Government focus

• Telecom: 5G roll-out

Source: Internal Assessment

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Exide is ahead of the curve in its lithium-ion foray

Exide Industries Limited

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A
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100% Subsidiary 100% Subsidiary
A Exide Energy B Exide Energy
Private Limited (EEPL) Solutions Limited (EESL)
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• Established in 2018, Prantij, Gujarat

• Established in 2022, Bengaluru, Karnataka

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B
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• 1.5 GWh capacity

• Module and Pack Assembly Lines

• Pouch/Prismatic/Cylindrical cell to sub-module

• Sub - module to module

• Cell testing lab

• o Prototype and pilot line

• 12 GWh capacity, total investment of Rs.6,000 crore

• Li-ion cell manufacturing and packs & module facility

• Phase I– 6 GWh (NCM: 3 GWh, LFP: 3GWh) by 2025

• Phase II– 6 GWh

*Note: Scheme of amalgamation between Exide Energy Private Ltd. and Exide Energy Solution Ltd has been approved by Board of Directors of both the companies. Post approval from NCLT, EEPL will be amalgamated into EESL.

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Nexcharge has strong capabilities to cater to diverse customer specifications

Our strong technical expertise ….

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Deep design capability: providing energy density, thermal stability and functionality

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In-house Quality competency : manufacturing : Ability to Automated customise as per process for customer compliance with specifications high standards

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Economies of scale : High scale processes at competitive costs

…along with extensive product offerings can provide solutions across verticals

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2W Light Battery 2W Medium Pack Battery Pack

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Telecom
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UPS Battery
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Bus Battery 3W Battery Pack Pack

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Energy Storage
Systems
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Nexcharge has order book of Rs.600-700 crore as of Sep-23, to be executed in next 12-15 months

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Exide is in advanced stages of setting lithium-ion cell manufacturing facility

Wholly owned subsidiary Exide Energy Solutions Limited

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• Setting up the multi-gigawatt green field project for li-ion cell manufacturing

• Offer complete end to end solution: from cell to system, from molecule to megawatt

• Exide has invested equity of Rs.1,820 crore in EESL till Dec-23

Technical Collaboration with SVOLT Technology Solutions Ltd.

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• Multi-year technical collaboration for li-ion cell technology

• Support for setting the plant on a turnkey basis

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• Leading li-ion cell manufacturer

• Headquartered in China

• ~3,000 team members and ~500 experts in Li-ion battery R&D

4 lines planned for capacity of 6Gwh by 2025

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Cylindrical Cells: 4.2Ah & 5Ah

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Radial Prismatic Cells:106Ah, 157Ah & 228Ah

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Our competitive edge and value proposition

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End-to-end “Cell to Pack” product portfolio

• Multiple chemistries/form factors

• Customizable module/pack solutions

• Joint product development integrated with the new product development cycle

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High focus on offering competitive costing

• Strategic raw material sourcing partnerships to improve costing

• Manufacturing efficiencies through automation & technology deployment

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Backed by SVOLT's world class technology & quality

• Tech partnership with global li-ion cell player

• Industrial leading thermal stability with automated robotic assembly

• Robust quality check test points within manufacturing process

Scalable operations to meet customer needs

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• State-of-the-art plant planned with multiple production lines

• Potential access to strong dealer network for charging and after-sales market support

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Progress so far ….

Particulars	Progress	Progress
	•	Recruitment of top-tier team experienced professionals completed
Organization	•	Regular training and ramp-up of teams is ongoing
	•	100+ personnel currently supporting project execution and timely delivery
Funding	• •	Mix of internal accruals and loan financing, Exide has invested equity of Rs.1,820 crore (Dec-23) Recently secured credit facility from banks for project financing
Project Construction	• •	Key approvals obtained; Detailed designing and construction works progressing Selection and order placement for equipments in advanced stages
	•	Jointly working with SVOLT to achieve key milestones across workstreams
Technology & R&D development	•	R&D members training with SVOLT team is underway
	•	Setting up of quality and safety labs for supporting operations (testing/pilot line)
Supply Chain	• •	Identification and onboarding of both local and international suppliers under progress In-person visits and reviews being conducted for ensuring uninterrupted supply of key materials
	•	Active customer engagement across mobility, industrial and stationary applications
Volume Off-take	•	Regular plant visits being undertaken by OEMs to support new customer acquisition and to develop stronger
		pipeline

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Onsite construction works is progressing well

Onsite construction is on track….

Final View post completion of Phase -1 (2025)

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Cell-manufacturing plant

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Administrative building

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Our readiness in the emerging EV battery space

Click here for the video

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Key Financial Highlights

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Consistent financial performance delivered over the years

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Revenues EBITDA Profit after tax
(Rs. Cr.) (Rs. Cr.) (Rs. Cr.)
FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23
1,568
904
14,592 1,411 1,365 1,356 1,398 844 826 758 765
12,410
10,588 9,857
10,041
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• Strategic initiatives to boost sales and control costs enabled company to deliver consistent performance

• Generated positive cash flows for last 10+ years

• Healthy profit generation despite tough macro environment in past few years

• Zero debt company since 2011[1]

• Except for short-term borrowing for overseas equipment purchases @ 1-2% interest availed during FY15-FY17, Profits exclude exceptional items

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9MFY24 performance highlights – focus on profitability

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EBITDA &
Revenues
EBITDA Margin
9MFY23 9MFY24
9MFY23 9MFY24
Rs.1,201 Cr. Rs.1,355 Cr.
Rs. 11,049 Cr. Rs.12,020 Cr.
9% (10.9%) (11.3%) 13%
PBT & PAT &
PBT Margin PAT Margin
9MFY23 9MFY24 9MFY23 9MFY24
Rs.934 Cr. Rs.1,028 Cr. Rs.696 Cr. Rs.769 Cr.
(8.5%) (8.6%) (6.3%) (6.4%)
10% 11%
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Strong balance sheet and positive cash flow generation

Balance sheet Hi hli hts g g

	Particulars	Unit	Mar-22	Mar-23	Sep-23
	Total Equity	Rs. Crore	10,598	11,210	12,639		•	Continue to maintain the Zero debtcompany since
	Total Debt	Rs. Crore	Nil	Nil	Nil			2011
	Debt : Equity	X	Nil	Nil	Nil		•	Healthy return ratios
	RoCE*	%	19.3%	19.5%	20.9%#
	Positive Cash flow generation					•		Healthy profits plus prudent
	Particulars	Unit	FY2021-22	FY2022-23	H1FY24			working capital management
	Cash flow from operations	Rs. Crore	830^	848	1,491			supportsstrong cash flow generation

Positive Cash flow generation

• Healthy profits plus prudent working capital management supports strong cash flow generation

• *RoCE is calculated as Profit Before Interest and Tax divided by average capital employed (excluding stake in HDFC Life Insurance Ltd and Exide Life Insurance),# on an annualized basis

• ^ Cash flow from operations excludes cash tax paid on profit earned from sale of stake in subisidiary in FY22

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Aim to maximize investor returns through multiple initiatives

Revenue Operational Growth efficiency

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Improved Profitability

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Dividend

payment

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• Product launches and deeper market penetration in domestic markets

• Focus on Exports

• Digitalisation in sales to increase volumes

• Streamlining supply chain to optimise inventory

• Automation projects to increase productivity & efficiency

• Improving product mix towards higher margin products

• Regularly paid dividends to shareholders

and lower inefficiencies

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Sustainability and CSR

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ESG is an integral part of our business and strategy

Environment

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19% green energy consumption in FY23

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Social

2.08 lakh+ of manhours of training to employees

Governance

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Introducing eco-friendly products

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Nurturing Diversity: Hybrid working policy for young mothers

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Backward integration for recycling used batteries to recover lead

Maintaining highest standards of employee health and safety

Our sustainability

report

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Highest standard of corporate governance and risk management

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Total board remuneration is less than 2% of profits against mandate of 11%

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Separate position for Chairman and CEO for more than a decade

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CSR initiatives focuses on building equal and inclusive societies

Focus on 5 key pillars for socio-economic development:

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Impact created:

• More than 3.1 lakh people benefited in FY23

• 80% of beneficiaries are from socially and economically disadvantaged sections

• Active employee participation across CSR projects

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Disclaimer

In this document, we have disclosed forward-looking information to enable analysts and investors comprehend our prospects and take investment decisions. This document and other statements–written and oral–that we periodically make, contain forward-looking statements that set out anticipated results based on the management’s plans and assumptions. We cannot guarantee that these forward-looking statements will be realised, although we believe we have been prudent in our assumptions.

The achievements of results are subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. We undertake no obligation to publicly update any forwardlooking statement or comparative assessments, whether as a result of any new information, future events or otherwise. We accept no responsibility for any loss and/or damages, risks and/or liabilities, which may be incurred and/or suffered by any investor on account of or arising from the use of the information by investors. We make no warranties of any kind, whether express or implied, as to the adequacy of such information for any intended purpose of the investors.

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THANK YOU!

Investor Contact: Chhavi Agarwal, CFA Head- Investor Relations & Sustainability E-mail: investor.relations@exide.co.in

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