Vedanta Limited — Annual Report 2026

Apr 29, 2026

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VEDL/Sec./SE/26-27/17

April 29, 2026

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai – 400 001

National Stock Exchange of India Limited “Exchange Plaza” Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051

Scrip Code: 500295

Scrip Code: VEDL

Sub: Outcome of Board Meeting held on April 29, 2026 – Press Release and Investor Presentation

Dear Sir/Madam,

In continuation to our Letter No. VEDL/Sec./SE/26-27/16 dated April 29, 2026, declaring the Audited Consolidated and Standalone Financial Results of Vedanta Limited (the “Company” ) for the fourth quarter and year ended March 31, 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.vedantalimited.com .

The meeting of the Board of Directors of the Company commenced at 01:10 p.m. IST and concluded at 02:35 p.m. IST.

We request you to please take the above on record.

Thanking you.

Yours faithfully,

For Vedanta Limited Prerna Digitally signed by Prerna Halwasiya Date: 2026.04.29 14:39:20 Halwasiya +05'30'

Prerna Halwasiya

Company Secretary and Compliance Officer Enclosed: As above

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Sensitivity: Public (C4)

Vedanta Limited Regd. Office: Vedanta Limited 1[st] Floor, ‘C’ Wing Unit 103, Corporate Avenue, Atul Projects Chakala, Andheri (East) Mumbai 400093, Maharashtra www.vedantalimited.com CIN: L13209MH1965PLC291394

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Vedanta Delivers its Best-Ever Financial Performance

PAT jumps 89% YoY to ₹9,352 crore in Q4 & 22% to ₹25,096 crore for the full year

Mumbai, April 29, 2026: Vedanta Limited (VEDL) today announced its Audited Consolidated Results for the fourth quarter and full year ended 31[st] March 2026.

• Record EBITDA of ₹18,447 crore (+59% YoY) in Q4 & ₹55,976 crore (+29% YoY) in FY26

• EBITDA Margin rises to record ~44%, up 915 bps YoY in Q4 & to ~39%, up 470 bps in FY26

• Best-ever Revenue at ₹51,524 crore (+29% YoY) in Q4 & ₹1,74,075 crore (+15% YoY) in FY26

• Net debt/ EBITDA improved to 0.95x and credit rating reaffirmed at AA by CRISIL & ICRA

• FY26 VEDL Total Shareholder Return (TSR) of 48.6%, 2.1x of Nifty Metal Index

• Growth capex of ₹14,918 crore in FY26; Demerger effective from 1st May ‘26

Financial Highlights Q4 FY26:

• Record-best PAT of ₹9,352 crore, up 89% YoY and 20% QoQ

• Best-ever quarterly Revenue of ₹51,524 crore, up 29% YoY and 12% QoQ

• Highest-ever quarterly EBITDA of ₹18,447 crore, up 59% YoY and 22% QoQ

• Best-ever EBITDA margin[1] of 44%, up by 915 bps YoY and 306 bps QoQ

• Record Return on Capital Employed at ~32%, improved by 539 bps YoY

• FCF(pre-capex) stood at 11,930 crore , up 53% YoY

• Net Debt/EBITDA ratio at 0.95x, best in 14 quarters, improved significantly from 1.22x in Q4 FY25

• Paid dividend of ₹11/share in Q4

Financial Highlights FY26:

• Best-ever annual Revenue at ₹1,74,075 crore, up 15% YoY

• Record-best annual EBITDA at ₹55,976 crore, up 29% YoY

• Highest-ever annual PAT at ₹25,096 crore, up 22% YoY

• Total capital expenditure in the year stood at ₹ 14,918 crores, focused on volume expansion, cost compression and supply chain integration

• Cash and Cash Equivalent stood at ₹28,485, improving by 38% YoY on the back of Free cash flow (pre-capex) of ₹26,013 crore

• Credit Rating reaffirmed at AA/Watch with Developing Implications by both CRISIL & ICRA

• Total Shareholder Return of 48.6%, 2.1x of Nifty Metal Index, paid dividend of ₹34/share

1 Excludes custom smelting at copper business

Page 1 of 6

Registered Office : Vedanta Limited 1[st] Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai 400093, Maharashtra, India. CIN: L13209MH1965PLC291394

Sensitivity: Internal (C3)

Results for the Fourth Quarter and Year ended 31 March 2026

Business Highlights FY26:

Key businesses continue to deliver strong operating performance:

▪ Aluminum

• Record annual Aluminium production at 2,456 kt, up 1% YoY, realized majorly through operational efficiencies.

• Record annual Alumina production at the Lanjigarh refinery, 2,916 kt, up 48% YoY, with exit run rate of 4 MTPA.

• Lowest Aluminium COP in 5 years at $1,752/t, lower by 5% YoY

▪ Zinc India

• Best-ever annual mined metal at 1,114 kt, up 2% YoY

• Record annual refined zinc metal production at 851 kt, up 3% YoY

• Lowest COP in 5 years at 959 $/t, lower by 9% YoY

▪ Zinc International

• Annual Mined metal production at Zinc International jumps 27% YoY to 225 kt

• o Gamsberg’s annual production jumps 39% YoY to 185 kt

▪ Oil & Gas

• Average gross operated production for the full year stood at 87.2 kboepd

• Gas discovery at Ambe Block in the West Coast region adding ~13 mmboe of R&R

▪ Power

o TSPL’s plant availability stood at 83%

• Secured 5 year, 500MW PPA for Meenakshi and Athena

▪ Iron Ore, Steel and Others

• Record annual IOB pig Iron production at 895 kt, up 10% YoY

• Record annual production of Ferro Chrome at 101 kt, up 21% YoY

• Record annual cathode production at 170 KT, up 14% YoY

Commenting on Q4FY26 results, Mr. Arun Misra, Executive Director, Vedanta, said, “FY26 was

a year of strong execution for Vedanta, with record operational performance across the portfolio. We delivered 2.9 million tonnes of alumina, 2.46 million tonnes of aluminium, 1.1 million tonnes of mined metal at Zinc India, 895 kt of pig iron and 101 kt of ferrochrome, reflecting improved operating efficiency alongside the ramp up of new capacities. During the year, we deployed ₹14,918 crore of growth capex, commissioning key projects including Lanjigarh Train II, the new BALCO smelter, downstream expansions at Jharsuguda, the Debari roaster at Zinc India, and 1.3 GW of power capacity. Our continued focus on operational excellence resulted in lowest costs in last five years at Aluminium and Zinc business.”

Page 2 of 6

Registered Office : Vedanta Limited 1[st] Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai 400093, Maharashtra, India. CIN: L13209MH1965PLC291394

Results for the Fourth Quarter and Year ended 31 March 2026

Mr. Ajay Goel, CFO, Vedanta, said, “The quarter marks a defining point for Vedanta, with the delivery of our strongest-ever financial performance recording all-time highs in Revenue, EBITDA, and PAT for both the quarter and the full year and a clear positioning for the next phase of growth with Demerger effective from 1[st] of May ‘26. Our Revenue grew 15% YoY to ₹1,74,075 crore, EBITDA 29% YoY to ₹55,976 crore and PAT at ₹25,096 crore, marking a 22% jump YoY. Our balance sheet strengthened further with Net Debt to EBITDA improving to 0.95x, from 1.22x an year ago, and both CRISIL and ICRA reaffirming VEDL’s credit rating as AA / Watch with Developing Implications. Pursuing growth with capex investment of ₹14,918 crore in the year, we continued to reward our shareholders, paying a handsome dividend of ₹34/share and delivering TSR of 48.6%.”

FY26 ESG Highlights

• ESG Leadership: Hindustan Zinc became the first Indian company to join the International Council on Mining & Metals (ICMM), joinning an exclusive global group of 26 companies recognized for excellence in responsible mining. Hindustan Zinc also secured first rank, while Vedanta Aluminium secured second rank in the S&P Corporate Sustainability Assessment for the third consecutive year. Cairn Oil & Gas, in its very first participation, placed among the top five companies globally in the Oil and Gas Upstream and Integrated sector, emerging as the highest scorer in India. In the CDP Ratings, Vedanta maintained a strong Climate score of ‘B’, while our Water rating improved from ‘B’ to ‘A minus’.

• Environmental: Vedanta advanced its sustainability agenda in FY26 with renewable energy use rising 52% YoY, GHG intensity down 9.5%, and water recycling up to 94 million m³. Key initiatives include electric forklifts, energy efficiency projects, renewable sourcing, and air quality improvements.

• Social Front: Vedanta invested ₹418 crore in CSR initiatives during FY26, positively impacting 7.8 million lives across the world. The Nand Ghar initiative helped ~1.1 Mn lives through 12,700+ Nand Ghars across India.

Consolidated Financial Performance –

(In ₹ crore, except as stated)

Particulars	4Q	4Q	% Change	3Q	% Change QoQ	FY2026	FY2025
	FY2026	FY2025	YoY	FY2026
Revenue from operations Other Operating Income EBITDA EBITDA Margin1 Finance cost Investment Income Exploration cost written off Exchange Gain/ (Loss), Non- operational and others Profit before depreciation and taxes Depreciation & Amortization Profit before tax Tax Charge/ (Credit) Profit After Taxes before exceptional items Exceptional Items (net of tax)	51,524	39,789 666 11,618 35% 2,583 732 258 135 9,644 2,988 6,656 1,696 4,961 -	29%	45,899 752 15,171 41% 2,176 748 147 141 13,737 2,725 11,010 2,982 8,030 (223) 7,807	12% 76% 22% 3% (6%) 1% 10% - 23% (50%) 41% 49% 38% - 20%	1,74,075 3,119 55,976 39% 8,351 2,978 1,252 28 49,379 9,774 39,605 11,011 28,594 (3,498) 25,096	1,50,725 2,243 43,541 34% 9,914 2,987 459 (51) 36,104 11,096 25,008 5,609 19,399 1,135 20,535
	1,327		99%
	18,447		59%
	44%		9%
	2,039		(21%)
	752		3%
	161		(38%)
	(114)		-
	16,885		75%
	1,356		(55%)
	15,529		-
	4,446		-
	11,083		123%
	(1,731)		-
Profit After Taxes	9,352	4,961	89%

1 Excludes custom smelting at copper business & one-off gain in 2QFY26

Page 3 of 6

Registered Office : Vedanta Limited 1[st] Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai 400093, Maharashtra, India. CIN: L13209MH1965PLC291394

Results for the Fourth Quarter and Year ended 31 March 2026

▪ Revenue:

• 4QFY26 consolidated revenue at ₹51,524 crore, up 29% YoY & 12% QoQ driven by higher LME, volumes, premium, and forex gain

▪ EBITDA and EBITDA Margin:

• 4QFY26 EBITDA increased by 59% YoY & 22% QoQ to ₹18,447 crore mainly driven by higher LME, premiums, forex gains and higher volumes

• 4QFY26 EBITDA margin of ~44%, up 915 bps YoY

▪ Depreciation & Amortization:

• Depreciation & Amortization at ₹1,356 crore for 4QFY26, lower due to accounting treatment as required by Ind AS 105, post NCLT demerger order on 16 December 2025 (for all discontinued operations except Power) & 9 Jan 2026 (for Power).

▪ Finance Cost:

• 4QFY26 Finance cost is lower 6% QoQ due to lower average borrowings and one-offs

• o Lower 21% YoY due to lower average borrowings and lower borrowings rates

• Investment Income:

• 4QFY26 remained stable QoQ and higher 3% YoY due to change in investment mix.

▪ Taxes:

• Normalized ETR for 4QFY26 is 29% as compared to 28% in 4QFY25, mainly due to change in profit mix and reversal of deferred tax assets.

▪ Profit After Tax

• 4QFY26 PAT is ₹9,352 crore, up 89% YoY and 20% QoQ

▪ Leverage, liquidity, and credit rating:

• Gross debt at ₹ 81,740 crore as on 31[st] March 2026

• Net debt at ₹ 53,254 crore as on 31[st] March 2026

• Net debt to EBITDA ratio of 0.95x vs 1.22x in 4QFY25

• Cash and cash equivalents position remains strong at ₹ 28,485 crore. The Company follows a Board-approved investment policy and invests in high quality debt instruments with mutual funds, bonds, and fixed deposits with banks

• Both ICRA and CRISIL have reaffirmed AA/ Watch with Developing Implications rating for Vedanta Limited

Page 4 of 6

Registered Office : Vedanta Limited 1[st] Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai 400093, Maharashtra, India. CIN: L13209MH1965PLC291394

Results for the Fourth Quarter and Year ended 31 March 2026

4QFY26 Awards and Recognitions:

▪ CSR:

• Aluminium Coal Mines win Best CSR Award for exemplary contribution towards social responsibility, sustainability, and community welfare, for health initiative - Nikshay Mitra (TB elimination program)

• Sijimali wins 'Best CSR Project of the Year Award (Swarna Prashan)

• BALCO Wins National CSR Recognition CSR Impact Root

▪ Safety :

• HZL recognised at British Safey Council’s International Safety Awards.

• Aluminium Coal Mins win Safety Management Plat by DGMS – Ministry of Mines

• Cairn wins 9 Awards in Various categories- leader in Occupational Health, Safety, and governance practices and striding ahead toward achieving Zero Harm through Only Safe Production by DGMS – Ministry of Mines

▪ Business Excellence:

• Hindustan Zinc recognised as Best Organisation for Women 2026 at the 6th edition of ET Edge by The Times Group

• Hindustan Zinc’s Legal Team honoured with the Excellence in Compliance Initiative of the Year

• Vedanta Jharsuguda Honoured with Indian Manufacturer of the Year award by Frost and Sullivan

• FACOR secured two prestigious awards at the Indian Bureau of Mines’ 27th MEMC Week

• Hindustan Zinc was honored with the ICAI Award for Best BRSR (Business Responsibility and Sustainability Reporting) Report in the Large-cap Manufacturing category

▪ Sustainability:

• Vedanta and HZL recognised as India’s Most Sustainable Companies by BW Businessworld.

• TSPL wins Water Efficient Award at the CEE Power Generation & Water Management Summit 2026

• TSPL won 2 awards: Biomass Co-firing Excellence & Reducing NSHR Award by Mission Energy Foundation

• Hindustan Zinc as Runner-Up in the Water Stewardship category at the prestigious 16th India Corporate Governance & Sustainability Vision Summit and Awards hosted by the Indian Chamber of Commerce.

• Sesa Goa won an award in green mining & placed 1st in Mineral Conservation & 2nd in Mineral Beneficiation at MEMC Week

Page 5 of 6

Registered Office : Vedanta Limited 1[st] Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai 400093, Maharashtra, India. CIN: L13209MH1965PLC291394

Results for the Fourth Quarter and Year ended 31 March 2026

Results Conference Call –

Please note that the results presentation is available in the Investor Relations section of the company website https://www.vedantalimited.com/eng/investor-relations-overview.php#resultsReports

Following the announcement, a conference call is scheduled at 5:00 PM (IST) on April 29, 2026, where the senior management will discuss the company’s results and performance. The dial-in numbers for the call are as below:

Event	Telephone Number
Earnings conference call on April 29, 2026, from 5:00 PM to 6:00 PM (IST)	Universal Dial-In	+91 22 6280 1114 +91 22 7115 8015
	India National Toll Free	1 800 120 1221
	International Toll Free*	Canada 01180014243444
		HongKong 800964448
		Japan 00531161110
		Netherlands 08000229808
		Singapore 8001012045
		UK 08081011573
		USA 18667462133
Online Registration Link	For Registration-Click Here
Call Recording	This will be available on Companywebsite on April 30,2026

*In case of dial-ins from any other country, please use the online registration link for relevant dial in numbers

Vedanta Limited:

Vedanta Limited (NSE: VEDL; BSE: 500295) is the world’s leading producer of metals, oil & gas, critical minerals, power and technology. The company supplies essential materials that power the global energy transition, emerging technologies and the green economy of the future. Its diversified portfolio supports industrial growth, energy security and technological advancement across global value chains. With operations spanning India, Africa, the Middle East and East Asia, Vedanta is embedded in high-growth geographies shaping the next era of global development. Sustainability anchors the Company’s strategy, guided by strong ESG governance, people-first workplaces, and a commitment to achieving net-zero emissions by 2050 or sooner. By operating at the intersection of resources, technology and human potential, Vedanta is strengthening economies, empowering communities, and creating enduring value for all stakeholders.

For more information, please visit www.vedantalimited.com

Vedanta Limited

Vedanta, 75, Nehru Road, Vile Parle (East), Mumbai (400 099) www.vedantalimited.com

Registered Office: Regd. Office: 1st Floor, ‘C’ wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai – 400 093

CIN: L13209MH1965PLC291394

Disclaimer

This press release contains “forward looking statements” – that is, statements related to future, not past, events. In this context, forward looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

For any Investor enquiries, please contact:

Charanjit Singh, Group Head – Investor Relation (charanjit.singh@vedanta.co.in | vedantaltd.IR@vedanta.co.in)

For any media queries, please contact:

Ms. Sonal Choithani, Group Chief Brand & Communications Officer (Sonal.Choithani@vedanta.co.in)

Page 6 of 6

Registered Office : Vedanta Limited 1[st] Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai 400093, Maharashtra, India. CIN: L13209MH1965PLC291394

Vedanta Limited EARNINGS PRESENTATION 4Q and Full Year FY26

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Table of Contents

1

2

3

4

5

Highlights

Quarterly Highlights | Full Year Highlights

ESG

Highlights | Ratings | CSR

Business Performance

Aluminium | Zinc India | Zinc International | O&G | Power | Iron & Steel

Finance Update

P&L | Balance Sheet | Capex Profile | Guidance | Deleveraging

Appendix

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Highlights 4Q & FY26

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EBITDA

Revenue

Q4

PAT

FY26 Highlights

Vedanta Demerger effective from 01[st] May 2026 Invested ₹14,918 cr. In Growth Capex

First Metal from India’s largest 525 kA Smelter at BALCO

Acquired Incab Industries for downstream copper and aluminium

Offshore Gas Discovery at Cairn Ambe Block

Secured 5 year, 500MW PPA for Meenakshi and Athena

Total Shareholder Return 48.6% 2.1x of Nifty Metal Index

Dividend paid: ₹34/- per share

Achieved highest weightage among Nifty Next 50 companies

₹18,447 crore

+59% YoY

₹55,976 crore +29% YoY Highest-ever EBITDA

EBITDA Margin

~44% Highest-ever, +915 bps YoY

~39%

2[nd] highest-ever, +470 bps YoY

VEDL Credit Rating

Reaffirmed at AA

Watch with Developing Implications by

CRISIL & ICRA

₹ 9,352 crore

+89% YoY

₹ 25,096 crore

+22% YoY

Best-ever PAT

Production

Volume growth (YoY)

Record Aluminum : 2456 kt (1%) Record Alumina: 2916 kt (+48%) Record Mined metal: 1114 kt (+2%) Zinc International: 225 kt (+27%) Record IOB Pig Iron : 895kt (+10%)

Net Debt/ EBITDA

0.95x

vs 1.22x in 4QFY25

Best in 14 Quarters

₹ crore 51,524

+29% YoY

₹ crore 1,74,075

+15% YoY

Record Revenue

Cost of Production

Aluminium ↓ 5% YoY

Zinc India ↓ 9% YoY

Both Lowest in 5 years

VRL Credit Rating

BB-

Upgraded by

Fitch Ratings

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Environment, Social & Governance

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HSES

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Our commitment to excellence – our path to leadership

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Transforming Planet Transforming Workplace Transforming Communities
22%
1.75 million
3.97 Billion units
Women in workforce, (1.46 million in FY25, +20% YoY )
(+52% YoY)
37% in enabling functions Families Skilled
RE consumed
31.08 million
60+
3.8 million (26.02 in FY25, +19% YoY)
(+31% YoY ) (43 in FY25, + 40% YoY) Women & Children
Trees Planted LGBTQ+ employees Benefitted
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Vedanta Limited 4QFY26 Investor Presentation

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CSR

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Empowering communities with strategic investment

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Q4 +2.27 million [1] ₹ 159.4 crore [#] Highlights 7.8 million [1] ₹ 418.7 crore [#]
Updates Beneficiaries CSR Spent FY26 Beneficiaries 12769 CSR Spent YTD FY26
CSR Spend (Cr) Human Capital
87 Initiatives
454 ( Healthcare, children’s
438 4.11 Mn
430 Well-being & Education)
419
400
Social inclusion
51 Initiatives
(Women empowerment,
0.44 Mn
331 Skilling & Livelihoods)
296
Sustainable Infrastructure 42 Initiatives
(Community 0.85 Mn
Infrastructure, WASH)
Eco & Cultural stewardship 35 Initiatives
FY20 FY21 FY22 FY23 FY24 FY25 FY26
(Environment, Sports and 2.40 Mn
culture & animal welfare)
AI/Tech. Initiatives
➢ 5100+ villages |15 States
➢ 10 Aspirational Districts Nand Ghar, TACO, 4 Initiatives ❑ ZFA | F-Cube technology
Sports & Art and culture 1.09 Mn ❑ Unified CSR Impact Dashboard
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Public Disclosure numbers, #Financials &[1] Programmatic numbers are under audit (#Spend includes Set Off amount of HZL: 8.6 Cr)

Vedanta Limited 4QFY26 Investor Presentation

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HSES

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Key Initiatives by Business Units in Q4FY26

Transforming Planet

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• Kodingamali Bauxite operations have introduced EV loaders, transitioning nearly 50% of the fleet to electric and reducing emissions by 120 kg CO₂ per hour, advancing sustainable mining and Net Zero goals.

• Facor implemented a closed-loop system to recycle metal cooling water, eliminating once-through use and saving 34,000 m³/year of freshwater.

• TSPL achieved 111% ash utilisation by utilising 30.75 LMT against 27.80 LMT generated , including pond ash , ensuring zero ash accumulation and best ever ash sale revenue.

Transforming Workplace

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• Dump Safety Awareness: Conducted a geotechnical awareness session at Jamkhani Coal Mine to strengthen early identification of dump stability risks, covering key indicators, safe survey practices, and the importance of timely reporting.

• All-Women Power Unit Team: Vedanta Aluminium deployed Odisha’s first all-women technical team to operate a 135 MW power unit at Jharsuguda, through structured technical training in core operations.

• HZL successfully implemented the Collision Avoidance System for 30 equipment , with 100 safety tags deployed across SK Mines.

Transforming Communities

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• VLL Aarogya: Delivered proactive & preventive, healthcare through cataract camps, health camps, TB Nikshay Mitra support, & hospital interventions, benefitting 31,090 patients.

• Gram Nirman: TSPL renovated the community hall at Talwandi Aklia, providing an improved space for community gatherings and events, benefitting 17,700 villagers.

• Vedanta Aluminium Launched Eastern India’s largest honey FPC, supporting 500+ farmers with beekeeping training, a processing unit, and income enhancement. Plans to scale to 1,500+ farmers & 20,000 lt. honey production by FY28.

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Vedanta Limited 4QFY26 Investor Presentation

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HSES Decarbonization Initiatives Deployed in FY26

Global Recognition & Green Products

• Cairn Oil & Gas attained the Gold Standard Pathway status for reporting year 2025 under the UNEP’s Oil and Gas Methane Partnership (OGMP) 2.0 framework.

• BALCO launched Low Carbon aluminium with GHG intensity < 4tCO2e/MT (~50% below global threshold)

• ESL V-Xega Rebar awarded CII GreenPro Ecolabel

Energy Efficiency Initiatives

• BALCO reduced net-anode consumption using Nano ceramic coating of Baked anodes.

• Completion of steam saving project at ESL’s CPP (ITCC controller)

Fuel Transition & RE Power

• PNG Agreement with IOCL replacing LPG at ESL

• ESL sourced 3 MW RE RTC Power import from the grid in FY26

• Vedanta group used 3.97 BU of Renewable Energy in FY26

• TSPL-powered operations used 0.365 MT of biomass, marking a 7× increase year-on-year.

Decarbonization Partnership

• Hindustan Zinc partnered with Silox India to adopt EcoZen, strengthening a greener supply chain and supporting its industrial decarbonization roadmap.

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Vedanta Limited 4QFY26 Investor Presentation

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Business Performance 4QFY26

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Aluminium Business

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Focused on growth and end-to-end integration

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Aluminium Production (kt)
+2% y-o-y
2,422 2,456
604 621 613
4Q 3Q 4Q FY25 FY26
FY25 FY26 FY26
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Aluminium CoP[1] & Margin

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COP ($/t) 1 Margin ($/t)
2,011 1,835 1,752
1,742
1,674
2
1,154
872
1,512
879
1,268
4Q 3Q 4Q FY25 FY26
FY25 FY26 FY26
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Key Highlights:

Highest ever Quarterly & Yearly Alumina Production at 882 KT (+104% YoY) & 2,916 KT (+48% YoY) respectively with exit run rate of 4 MTPA

• Highest ever Annual Aluminium Production at 2,456 KT (+1% YoY)

• Lowest Yearly Hot Metal Cost in the last 5 Years at 1,752 $/t with lower Alumina cost & sub-500 $/t Power cost

• Best-ever Quarterly & Yearly EBITDA margin at 1,512 $/t & 1,154 $/t respectively

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Other Highlights:

• Declared ‘Preferred Bidder’ for Karnapodikonda Bauxite Block in Koraput, Odisha

1COP: Cost of Production; 2Excluding a One-off

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Vedanta Limited 4QFY26 Investor Presentation

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Zinc India

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Highest-ever quarterly mined and refined metal production

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• Highest-ever quarterly mined and refined metal production of 315 kt and 282 kt, respectively

• Record full year mined metal production of 1,114 kt, and second-best full year refined metal production of 1,048 kt

• 4Q silver production was 176 MT, up 11% QoQ. For the full year, it was 627 MT, contributing 45% to the overall profitability

• Lowest-ever[1] quarterly zinc cost of production[2] of $903/MT (better 9% YoY), clocking its 5-year lowest of $959/MT (better 9% YoY) for the full year

• Record ore R&R of 468.6 Mnt , surpassing 13.9 Mnt of metal reserves and 10.9 Kt of silver reserves for the first time[1 ]

• Partnered with Tata Steel and Silox India to scale the adoption of our low carbon zinc, EcoZen

Mined Metal

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Production (kt)
1,095 1,114
310 315
276
4Q 3Q 4Q FY25 FY26
FY25 FY26 FY26
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Refined Metal
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Production (kt) COP ($/T) [2]
1,052 1,048
1,052
994
940
270 270 282 959
903
4Q 3Q 4Q FY25 FY26 4Q 3Q 4Q FY25 FY26
FY25 FY26 FY26 FY25 FY26 FY26
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Saleable Silver

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Production (MT)
687
627
177 176
158
4Q 3Q 4Q FY25 FY26
FY25 FY26 FY26
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• 1since underground transition; 2COP is excluding royalty; R&R: Reserves and Resources

Vedanta Limited 4QFY26 Investor Presentation

12

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Zinc International

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Continued Strong performance led by Gamsberg

Total MIC[1] Production

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59
50 49
225
178
4Q 3Q 4Q FY25 FY26
FY25 FY26 FY26
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Key Highlights:

▪ Gamsberg phase 1 achieved 100% as planned.

▪ FY26 production higher by 27% YoY due to strong performance at Gamsberg which registered 39% increase

Gamsberg CoP[2]

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COP incl TcRc ($/T) 2
1,350
1,659
1,431
1,055 1,135
4Q 3Q 4Q FY25 FY26
FY25 FY26 FY26
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1MIC: Metal in concentrate; 2COP: Cost of production with TcRc cost.

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Growth: Gamsberg Phase 2

• Overall progress is at 93.6%. Project ramp up is targeted in Q2FY27.

13

Vedanta Limited 4QFY26 Investor Presentation

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Oil & Gas

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Investing strategically to sustain long-term value

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Gross Operated Production (kboepd)

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96.2
103.2
84.9
81.5
87.2
4Q 3Q 4Q FY25 FY26
FY25 FY26 FY26
Opex ($/boe)
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17.0 17.0
15.6 15.5
15.7
4Q 3Q 4Q FY25 FY26
FY25 FY26 FY26
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Key highlights:

• 4QFY26 production at 81.5 kboepd primarily driven by natural decline.

• 4QFY26 opex higher by 8% QoQ, primarily driven by lower production volumes.

• ASP Injection facility construction completed; Injection is being targeted in 1Q FY27

Growth Projects:

• Wells: 12 wells brought online across Bhagyam, Aishwariya, RDG, Saraswati and Mangala ASP (Cluster C).

• Western Offshore: Gas Discovery in Ambe block, with expected Reserve and Resource addition of ~13 mmboe.

• Deep Gas: Drilling campaign ongoing. 3 wells drilled till date.

Kboepd: Thousand barrel of oil equivalent per day; Boe: barrel of oil equivalent; ASP: Alkaline Surfactant Polymer; RDG: Raageshwari Deep Gas;

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Note : On 19[th] September 2025, MoPNG informed the contractors of the block (a three-party Joint Venture, including Vedanta as Operator) that their application for PSC extension hadn’t been accepted. Vedanta has challenged the said rejection before Delhi High Court. The Hon’ble Delhi High Court has, vide its order dated 6[th] January 2026, directed the parties to maintain status quo and accordingly, Vedanta continues to operate the Block. Cambay block average production per day factors volume till 31[st] March 2026 and is subject to outcome of the litigation. The matter is currently sub-judice.

Vedanta Limited 4QFY26 Investor Presentation

14

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Merchant Thermal Power

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Powering growth through reliable and efficient energy solutions

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Key Highlights:

• Achieved sales volume of 4934MU in 4QFY26 , an increase 28% QoQ and 73% YoY

Other Highlights:

• Secured 5.3 MTPA linkage coal in Meenakshi & Athena for current operating asset

• Highest quarterly EBITDA of ₹557 Crs in 4QFY26, an increase of 54% QoQ and 364% YoY

• Athena secured linkage coal of 1.5MTPA for Unit2 (currently in project phase)

• Meenakshi and Athena 5-years PPA of 300MW and 200MW respectively started from Feb’26

• TSPL achieved highest Biomass co-firing in Punjab for FY26 - 5.21%

Gross Sales (in Mn units)

EBITDA (in ₹ Crs)

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1,534
557
4,934 16,398
3,852
12,635
363
2,847
650
120
4Q 3Q 4Q FY25 FY26 4Q 3Q 4Q FY25 FY26
FY25 FY26 FY26 FY25 FY26 FY26
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Vedanta Limited 4QFY26 Investor Presentation

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Iron and Steel

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Iron Ore Business VAB [1] ESL FACOR
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Production (mn DMT)				Production (kt)	Production (kt)				Saleable Production (kt)	Saleable Production (kt)	Saleable Production (kt)			Ferro Chrome Production (kt)	Ferro Chrome Production (kt)	Ferro Chrome Production (kt)
(IOG2 + IOK3)
2.1 1.6 2.1 6.2	6.5				817 895 205 229 215						1,337 1,301 355 325 354					24 30 83 101
																11
4Q FY25 3Q FY26 4Q FY26 FY25 FY26					FY25 FY26 4Q FY25 3Q FY26 4Q FY26						FY25 FY26 4Q FY25 3Q FY26 4Q FY26					4Q FY25 3Q FY26 4Q FY26 FY25 FY26
▪Quarterly saleable ore production, up 29% QoQ,with improved operational efficiencies and ramp up of mine production at Iron Ore Goa.			▪ Record Annual Pig Iron productionup 10% YoY ▪ Power plants achieved the highest ever annual generation of 466 MU						▪		Saleable production up by 9% QoQ, achieving the highest ever quarterly & annual billet production (287 KT, 1062 KT), TMT production (151 KT, 525 KT) and annual Wire rod production (445 KT).			▪		Ferro Chrome Annual and Quarterly production is at 101kt and 30kt,up 21% YoY & 25% QoQ primarily due to consistent availability of Chrome Ore due to restarting of Kalarangiatta Mines.

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Vedanta Limited 4QFY26 Investor Presentation

16

1VAB: Value Added Business; 2IOG: Iron Ore Goa; 3IOK: Iron Ore Karnataka;

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Commissioning Schedule

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	FY26	FY27	FY28
Aluminium	▪ BALCO Smelter Expansion (commissioning initiated for 435 KTPA) ▪ Lanjigarh Expansion 3.5 to 5 MTPA (Train-2 expansion)	▪ Completion of VAP Projects ▪ Kuraloi Coal Mine – 1HFY27 ▪ Sijimali Bauxite Mine – 1HFY27 ▪ Ghogarpalli Coal Mine – 2HFY27
Zinc India	▪ 160 KTPA Debari Roaster – 1HFY26 ▪ 21 KTPA Cell House Debottlenecking (Dariba - 1HFY26; Chanderiya - 2HFY26)	▪ Hot Acid Leaching Plant – 1HFY27 ▪ 510 KTPA Fertilizer Project – 1HFY27	▪ 10 Mtpa Zinc Tailings Reprocessing Plant – 2HFY28
Zinc International		▪ Gb Ph-2 commissioning- 1HFY27
Oil & Gas	▪ ASP Project at Mangala Cluster ‘C’ ▪ Deep Gas exploration in Barmer Basin ▪ Appraisal cum Development campaign in West Coast	• Exploration in North East (SP-1) • Exploration wells in East Coast Deep Water Block. • Tight Oil monetisation in Barmer basin. • Exploration across prospects in OALP portfolio.
Power	▪ 1000 MW at Meenakshi Power – 1HFY26 ▪ 600 MW at Athena – 1HFY26	▪ Additional 600 MW at Athena – 2HFY27
Iron Ore		▪ 0.4 MTPA DI Pipe Plant (Goa) – 1HFY27 ▪ Bicholim Mine (Goa) expansion: 3 - 3.6 MTPA – 1HFY27 ▪ 0.5 MTPA Cudnem Mine (Goa) – 2HFY27	▪ Janthakal Mine (Karnataka)
Steel1		▪ Coke Oven of 0.5 MTPA– 1HFY27 ▪ DIP of 0.2 MTPA – 2HFY27 ▪ Hot Metal Capacity Expansion from 1.7 to 3.5 MTPA–2HFY27
Ferrochrome		▪ Ostapal Underground Operations – 1HFY27	▪ Smelter Plant Capacity to 500 KTPA – 1HFY28 ▪ 600 ktpa Chrome ore Beneficiation Plant–1HFY28
17 Note: Text highlighted inBluerepresents projects that have been fully or partially commissioned/initiated;1Project timelines subject to EC

Note: Text highlighted in Blue represents projects that have been fully or partially commissioned/initiated;[1] Project timelines subject to EC

Vedanta Limited 4QFY26 Investor Presentation

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Finance Update 4QFY26

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4QFY26 financial snapshot

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PAT Before
REVENUE EBITDA EBITDA Margin [1]
Exceptional
₹ 51,524 crore ₹ 18,447 crore 44% ₹ 11,083 crore
 29% y-o-y  59% y-o-y  915 bps y-o-y  123% y-o-y
Cash & Cash
ROCE [2] FCF (Pre-capex) Net Debt/EBITDA
Equivalent
c.32% ₹ 11,930 crore 0.95x
₹ 28,485 crore
 539 bps y-o-y  53% y-o-y vs 1.22x in 4QFY25
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1. Excludes custom smelting at Copper Business 2. ROCE is EBIT net of tax outflow divided by average capital employed

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Vedanta Limited 4QFY26 Investor Presentation

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EBITDA BRIDGE (4QFY26 vs. 4QFY25)

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(In ₹ crore)
+59% YoY
509
737 18,447
1,704 17,672 (471)
656
3,694
11,618
Alum 1,920
Silver 1,434
Zinc 475
Market & Regulatory
6,054
4QFY25 LME Input Forex Rebased Volume Cost & Others 4QFY26
/ Brent Commodity EBITDA marketing
/Premium Inflation
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20

Ex rate: 4QFY26 91.50 vs 4QFY25 86.60

Vedanta Limited 4QFY26 Investor Presentation

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EBITDA BRIDGE (4QFY26 vs. 3QFY26)

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(In ₹ crore)
+22% QoQ
546
772 18,842
3,071 (283) 18,447
(658)
(172)
15,171
Alum 1,562
Silver 743
Zinc 91
Market & Regulatory
3,671
3QFY26 LME Input Forex Rebased Volume Cost & Others 4QFY26
/ Brent Commodity EBITDA marketing
/Premium Inflation
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Ex rate: 4QFY26 91.50 vs 3QFY26 89.09

21

Vedanta Limited 4QFY26 Investor Presentation

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Net Debt Walk 4QFY26

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(In ₹ crore)

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60,624
933 53,254
5,762
(14,035) (30)
FCF post Capex 8,303 Cr.
Net Debt Cash Flow Working Capex Others Net Debt
31 Dec'25 From capital 31 Mar'26
Operations
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22

Vedanta Limited 4QFY26 Investor Presentation

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Balance sheet and debt breakdown

Net debt / EBITDA

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1.32 1.37
1.22 1.23
0.95
4QFY25 1QFY26 2QFY26 3QFY26 4QFY26
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▪ Strong Liquidity: Cash and Cash Equivalents at ₹ 28,485 crores

▪ Net Interest*:

• Interest Income ~ 6.73%

• Interest Expense ~ 8.85%

• Maturity: proactive credit management; average term debt maturity maintained ~3 years

▪ Re-affirmation in Credit Rating :

• ICRA Ratings: AA / Watch with Developing Implications

• CRISIL Ratings: AA / Watch with Developing Implications

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Debt breakdown

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	Gross Debt	In $bn	In ₹ 000’ crores
	Term Debt	8.23	77.24
	Working Capital	0.32	2.96
	Short Term Borrowing	0.16	1.54
	Total Consolidated Debt	8.71	81.74
	Cash and Cash Equivalents	3.03	28.49
	Net Debt	5.67	53.25
	Debt Breakup ($ 8.71bn)
	- INR Debt		81%
	- USD / Foreign Currency Debt		19%

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23

*YTD average

Vedanta Limited 4QFY26 Investor Presentation

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Continued disci lined investment in value addin rowth p g g

(₹’000 Cr)

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Growth Capex profile
Iron and Steel ^17.0 – 19.0
Power 0.8 - 0.9
Aluminium 14.9
0.9 - 1.1
Zinc and Others 0.6
1.4
Oil & Gas 12.6
11.6
0.7 5.1 - 5.5
0.5
0.2 1.7 4.9
10.0
0.9
5.7
5.2
3.8
7.0 - 7.8
4.9
1.7
2.8 2.9
3.6
3.1 3.2 - 3.7
2.4 2.1
FY2023 FY2024 FY2025 FY2026 FY2027e
FCF Pre Capex ~28.1 ~23.0 ~27.5 ~26.0
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24

Vedanta Limited 4QFY26 Investor Presentation

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in $bn

Proforma Net Debt across Demerged Entities

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Pre Demerger
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Post Demerger
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Vedanta Limited Consolidated	Total	Vedanta Aluminium	Vedanta Limited	Vedanta Power	Vedanta Iron & Steel	Vedanta Oil & Gas
EBITDA	6.3	2.9	2.6	0.2	0.14	0.5
Gross Debt	8.7	4.0	2.7	0.9	0.5	0.6
Cash & Cash Equivalent (Including ICL proceeds)*	3.2*	0.5	1.7	0.1	0.3*	0.6*
Net Debt*	5.5	3.5	1.0	0.8	0.2	0.0
Net Debt/ EBITDA*	0.91x	1.3x	0.4x	4.7x	1.4x	-
Vedanta Limited Standalone	Total	Vedanta Aluminium	Vedanta Limited	Vedanta Power	Vedanta Iron & Steel	Vedanta Oil & Gas
Net Debt	4.7	3.4	1.0	0.2	0.1	0.0

Capital allocation is sharpened with a focus on maintaining healthy leverage, ensuring debt servicing discipline, and reinvesting free cash flows into scalable growth

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*Of the $217 Mn ICL receivable from Twinstar (due in May 2026), $140 Mn and $77 Mn are receivable by VISL and VOGL overseas subsidiaries, respectively.

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25

Vedanta Limited 4QFY26 Investor Presentation

Continuous Deleveraging

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Vedanta LimitedVedanta Limited
4QFY25 Target Current
VEDL
ND/EBITDA > 1.22x > <1x > 0.95x
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Vedanta Resources (Parent)Vedanta Resources FY20 FY25 Current Med Term Group Net Debt/EBITDA[[2]] > 3.3x > 2x > 1.6x > ~1x

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4QFY25 Target Current FY20 FY25 Current Med Term
VEDL Group Net
ND/EBITDA > 1.22x > <1x > 0.95x Debt/EBITDA [[2]] > 3.3x > 2x > 1.6x > ~1x
Net Debt to EBITDA Ratio [1] Net Debt at VRL (excl. VEDL) Debt maturity at VRL (excl. VEDL)
(as on 31 Mar’26)
$4.5 bn US$ bn US$ bn
3.8 Loans Bonds ICL
0.75
3.0
2.9 8.9 ICL
2.6
2.5 0.45 External Debt
1.20
7.2
0.42
5.6 0.42 0.22
0.95 4.9 4.9 0.30
0.22 0.58 0.46 0.26 0.55 0.50 0.50 0.55
0.30
Vedanta Global Global Indian Indian Industry
Limited Peer 1 Peer 2 Peer 1 Peer 2 Average Mar'22 Mar'23 Mar'24 Mar'25 Mar'26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34
▪
• Average maturity extended to ~4 years
4QFY26 closing interest cost stands at ~8.9%,
▪
down ~110 bps y-oy Interest cost down to ~10% (ex-ICL)
•
Average term debt maturity maintained ~3 years ▪
Rating upgrade by Fitch to BB-, Continue on “Positive” outlook by S&P, Moody’s
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26

1. Source: Bloomberg

2. At Vedanta Resources (incl. VEDL)

Vedanta Limited

4QFY26 Investor Presentation

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Appendix

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28

FY27 Production and Cost Guidance

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Aluminium Oil and Gas
Alumina 4.0 - 4.1 Mnt Average Gross
Volume 90 - 95 kboepd
Aluminium [1] 2.6 - 2.7 Mnt
Opex $15.5 – 16.5/boe
CoP [2 & 3] $1,650/t - $1,700/t
Zinc International
Zinc India
Gamsberg 280 - 300 kt
Mined Metal 1,140 - 1,160 kt BMM 35 - 40 kt
Finished Metal 1,090 - 1,110 kt CoP $1,500/t - $1,550/t
Silver 670 - 690 tonnes
Power
CoP [4] $975/t - $1000/t
TSPL PAF 88%
-
Athena PLF
Iron Ore & VAB
Meenakshi PLF 69%
Karnataka 4.8 - 5.3 Mnt
ESL
Orissa 4.7 - 5.2 Mnt
Hot Metal 1.5 - 1.6 Mnt
Goa 2.5 - 3 Mnt
Pig Iron 950 - 1001 kt FACOR
Ferrochrome 105 - 115 kt
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1. Including trial run production
2. Hot metal CoP.
Vedanta Limited
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1. Anticipated additional impact due to war in H1FY27: 50-100 $/t

2. CoP excluding royalty

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4QFY26 Investor Presentation
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Summary of Income statement

▪ Depreciation & Amortization

• Depreciation & Amortization at ₹1,356 crore for 4QFY26, lower due to accounting treatment as required by Ind AS 105, post NCLT demerger order on 16 December 2025 (for all discontinued operations except Power) & 9 Jan 2026 (for Power).

▪ Finance Cost o 4QFY26 lower 6% QoQ due to lower average borrowings and one-offs.

o 4QFY26 lower 21% YoY due to lower average borrowings and lower borrowings rates.

▪ Investment Income

• 4QFY26 remained stable QoQ.

• o 4QFY26 higher 3% YoY due to change in investment mix.

▪ Taxes

• Normalized ETR for 4QFY26 is 29% as compared to 28% in 4QFY25, mainly due to change in profit mix and reversal of deferred tax assets.

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In ₹ Crore	4Q 3Q 4Q	4Q 3Q 4Q	4Q 3Q 4Q
	FY26 FY26 FY25
Revenue from operations	51,524	45,899	39,789
Other operating income	1,327	752	666
EBITDA	18,447	15,171	11,618
Depreciation & amortization	(1,356)	(2,725)	(2,988)
Exploration Cost written off	(161)	(147)	(258)
Finance Cost	(2,039)	(2,176)	(2,583)
Investment Income	752	748	732
Exchange gain/(loss)	(114)	141	135
Tax Charge	(4,446)	(2,982)	(1,696)
PAT before exceptional	11,083	8,030	4,961
Exceptional items (net of tax)	(1,731)	(223)	-
PAT	9,352	7,807	4,961
PAT Up 89% YoY

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29

Vedanta Limited 4QFY26 Investor Presentation

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Project Capex

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Capex in Progress (In $ mn)	Approved Capex	Spent up to FY25	Spent in FY26	Unspent2 as on 31st Mar 2026
Cairn India1
Mangala,Bhagyam & Aishwariya Infill,ASP Facility,ABH Infill,RDG Infill,Exploration(OALP & PSC).	990	376	337	276
Zinc International
Gamsberg Phase II Project	595	325	158	112
Iron Ore Project	37	26	1	10
WCL
3 MTPA Magnetite Iron ore Concentrator plant at Liberia	280	1	1	278
Vedanta Copper International
Copper Rod Plant-KSA	31	1	6	25
Capex in Progress (In Rs Cr)	Approved Capex	Spent up to FY25	Spent in FY26	Unspent2 as on 31st Mar 2026
Aluminium Sector
Jharsuguda VAP capacity expansion and others	1656	1314	305	37
Coal & Bauxite Mines (Jamkhani, Radhikapur, Kurloi, Ghoghrapalli, Sijimali)	8245	931	929	6385
Lanjigarh Refinery: 2 to 5 MTPA	6585	5153	782	650
Balco smelter and VAP capacity expansion	11226	7794	2252	1180
Zinc India
Roaster (Debari)	1025	973	45	7
250 KTPA Integrated Zinc metal complex	12000	0	271	11729
RA Tailing Reprocessing	3823	0	148	3675
Others (Fertilizer, smelter etc)	3252	1575	1011	666
ESL
1.5 to 3 MTPA hot metal	2851	1548	487	816
FACOR
150 to 450 KTPA Ferro Chrome	2650	214	846	1590
Meenakshi
Meenakshi Power	900	357	136	407
Athena
Athena Power	3870	1523	1190	1157
Iron Ore
DIP Plant VAB	722	131	115	476

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Vedanta Limited

1. Capex approved for Cairn represents Net capex; however Gross capex is $1.3 bn.

2. Unspent capex represents the difference between total capex approved and cumulative spend as on 31st Mar 2026.

4QFY26 Investor Presentation

30

Entity-wise Cash and Debt

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(In ₹ crore)

Company	31-Mar-26	31-Mar-26	31-Mar-26	31-Dec-25	31-Dec-25	31-Dec-25	31-Mar-25	31-Mar-25	31-Mar-25
	Debt	Cash & Cash Eq	Net Debt	Debt	Cash & Cash Eq	Net Debt	Debt	Cash & Cash Eq	Net Debt
Vedanta Limited Standalone	53,290 8,860 44,430 51,228 5,461 45,767 42,821 5,708 37,113
Cairn India Holdings Limited1	2,524 2,152 372 2,728 2,318 410 1,986 2,590 (604)
Zinc India	8,252 13,846 (5,594) 9,013 9,342 (329) 10,651 9,482 1,169
Zinc International	2,347 221 2,126 2,247 110 2,137 2,137 409 1,727
THLZV2	3,747 245 3,502 3,144 104 3,040 2,989 193 2,796
BALCO	2,281 1,403 878 3,151 1,640 1,510 3,451 1,253 2,198
Talwandi Sabo	4,962 46 4,916 4,891 145 4,745 5,579 72 5,507
ESL	1,337 464 873 1,293 292 1,001 1,603 333 1,270
Bloom Fountain Limited	1,869 676 1,194 1,784 15 1,768 1,680 1 1,679
Meenakshi	999 39 960 981 43 938 866 21 845
Others3	131 534 (403) 249 613 (364) 91 541 (450)
Vedanta Limited Consolidated	81,740 28,485 53,254 80,709 20,085 60,624 73,853 20,602 53,251

Notes:

1. Cairn India Holdings Limited is a wholly owned subsidiary of Vedanta Limited which holds 50% of the group’s share in RJ Block

2. THLZV is 100% subsidiary of Vedanta Ltd. and holding company of Zinc International.

3. Others includes MALCO Energy, TCM, VGCB, Fujairah Gold, FACOR, Vedanta Limited Investment Companies, ASI, VCI, Semi-conductor, Display and Inter company elimination

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THLZV: THL Zinc Venture Limited

31

Vedanta Limited 4QFY26 Investor Presentation

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Funding sources and term debt maturities

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Diversified Funding Sources for Long Term Debt of $8.23 Bn Long Term Debt Maturities : ₹ 77.24K crore ($8.23 bn)
(as of Mar 31, 2026)
(as of Mar 31, 2026)
Standalone Subsidiaries
0.1%
19%
27%
Bonds INR 23.7 23.9
Term Loan INR
Term Loan Fx
6.2
Bonds Fx
13.7 17.4
6.5 12.2
.
54% 2.6
17.7
10.9
10.0 9.6
Long Term debt of $5.15 bn at Standalone and $3.08 bn at
Subsidiaries, and total consolidated at $8.23 bn. FY27 FY28 FY29 FY30 & Beyond
In ₹ 000’ crore
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32

Note: USD–INR: ₹ 93.87 on Mar 31, 2026

Vedanta Limited 4QFY26 Investor Presentation

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Se ment Summar – Aluminium g y

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Production(In ’000 tonnes, or as stated)	Quarter Full Year	Quarter Full Year	Quarter Full Year	Quarter Full Year
	4QFY26	4QFY25	% YoY	3QFY26 FY26 FY25 % YoY
Alumina – Lanjigarh	882 431 104% 794 2,916 1,975 48%
Total Aluminum Production Jharsuguda Balco1	613 604 2% 621 2,456 2,422 1% 460 457 1% 470 1,857 1,830 1% 153 147 4% 151 599 592 1%
Financials(In₹ crore, or as stated)
Revenue	18,753 15,967 17% 16,866 65,847 58,522 13%
EBITDA – BALCO	2,228 1,048 - 1,801 7,121 4,530 57%
EBITDA – Vedanta Aluminium	6,257 3,610 73% 5,222 18,381 13,268 39%
EBITDA Aluminum Segment	8,485 4,658 82% 7,023 25,502 17,798 43%
Alumina CoP – Lanjigarh($/MT)	363 377 (4%) 366 372 355 5%
Alumina CoP – Lanjigarh(₹/MT)	33,244 32,690 2% 32,608 32,869 30,030 9%
Aluminium CoP –($/MT)	1,742 2,011 (13%) 1,674 1,752 1,835 (5%)
Aluminium CoP –(₹/MT)	1,59,398 1,74,182 (8%) 1,49,156 1,54,818 1,55,136 -
Aluminum CoP – Jharsuguda($/MT)	1,726 1,914 (10%) 1,642 1,728 1,761 (2%)
Aluminium CoP – Jharsuguda(₹/MT)	1,57,952 1,65,714 (5%) 1,46,313 1,52,713 1,48,912 3%
Aluminum CoP – BALCO($/MT)	1,792 2,313 (23%) 1,774 1,824 2,063 (12%)
Aluminium CoP – BALCO(₹/MT)	1,63,950 2,00,301 (18%) 1,58,036 1,61,141 1,74,408 (8%)
Aluminum LME Price($/MT)	3,199 2,627 22% 2,827 2,775 2,525 10%

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1. Including production during stabilization period.

Vedanta Limited 4QFY26 Investor Presentation

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Aluminium profitability ($/t)

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----- Start of picture text -----

Hot metal cost
337
176 3,360 801
3,199 2,618
4QFY26
473
468
106
1,512
1,742
LME Strategic Premium Realisation Alumina Power Other hot Conversion & EBITDA
hedging metal other
Margin improved
72% YoY
2,011
4QFY25
2,627 11 301 2,939 (1,094) (543) (374) (49) 879
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All figures in $/t
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Vedanta Limited 4QFY26 Investor Presentation

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Segment Summary – Zinc India

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Production(In ’000 tonnes, or as stated)	Quarter Full Year	Quarter Full Year	Quarter Full Year	Quarter Full Year
	4QFY26	4QFY25	% YoY	3QFY26 FY26 FY25 % YoY
Mined metal content	315 310 2% 276 1,114 1,095 2%
Saleable metal	282 270 5% 270 1,048 1,052 -
Refined Zinc1	227 214 6% 221 851 827 3%
Refined Lead2	55 56 (2%) 49 197 225 (13%)
Refined Saleable Silver -(in tonnes)3	176 177 - 158 627 687 (9%)
Financials(In₹ crore, or as stated)
Revenue	12,672 8,805 44% 10,608 39,057 32,903 19%
EBITDA	7,743 4,811 61% 6,064 22,056 17,365 27%
Zinc CoP without Royalty (₹/MT)	82,594 86,060 (4%) 83,746 84,768 88,960 (5%)
Zinc CoP without Royalty ($/MT)	903 994 (9%) 940 959 1,052 (9%)
Zinc CoP with Royalty ($/MT)	1,354 1,376 (2%) 1,376 1,370 1,440 (5%)
Zinc LME Price($/MT)	3,241 2,838 14% 3,165 2,970 2,875 3%
Lead LME Price($/MT)	1,931 1,970 (2%) 1,970 1,954 2,046 (5%)
Silver LBMA Price($/oz)	84.3 31.9 165% 54.7 53.1 30.4 75%

Notes:

1. Includes 2.6kt, 3.7kt, 3.5kt, 13.7 and 10.1kt of metal production from Hindustan Zinc Alloys Private Limited (100% subsidiary of HZL) in 4QFY26,4QFY25, 3QFY26, FY26 & FY25, respectively. 2. Excludes captive consumption of 1.6 kt in 4QFY26 vs 2.1kt in 3QFY26 and 1.8kt in 4Q FY25. For FY26, it was 8.2kt as compared to 7.5 kt in FY25.

2. Excludes captive consumption of 7.7 tonnes in 4QFY26 vs 10.3 tonnes in 3QFY26 and 9.4 tonnes in 4Q FY25. For FY26, it was 40.9 tonnes as compared to 40.3 tonnes in FY25.

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Vedanta Limited 4QFY26 Investor Presentation

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Segment summary – Zinc International

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Production(In ’000 tonnes, or as stated)	Quarter Full Year	Quarter Full Year	Quarter Full Year	Quarter Full Year
	4QFY26	4QFY25	% YoY	3QFY26 FY26 FY25 % YoY
Mined metal content- BMM	7 10 (25%) 10 40 44 (10%)
Mined metal content- Gamsberg	42 40 3% 49 185 133 39%
Total	49 50 (3%) 59 225 178 27%
Financials(In₹ Crore, or as stated)
Revenue	1,173 1,108 6% 1,299 4,860 3,918 24%
EBITDA	110 404 (73%) 415 1,321 1,321 -
CoP –($/MT)	1,912 1,263 51% 1,632 1,561 1,299 20%
Zinc LME Price($/MT)	3,241 2,838 14% 3,165 2,970 2,875 3%
Lead LME Price ($/MT)	1,931 1,970 (2%) 1,970 1,954 2,046 (5%)

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Vedanta Limited 4QFY26 Investor Presentation

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Segment Summary – Oil & Gas

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Production(In kboepd, or as stated)	Quarter Full Year	Quarter Full Year	Quarter Full Year	Quarter Full Year
	4QFY26	4QFY25	% YoY	3QFY26 FY26 FY25 % YOY
Average Daily Gross Operated Production	81.5 96.2 (15%) 84.9 87.2 103.2 (16%)
Rajasthan	67.1 78.0 (14%) 69.0 70.4 84.3 (16%)
Ravva	7.4 8.5 (13%) 8.2 8.1 10.1 (20%)
Cambay1	3.8 6.2 (39%) 4.3 5.3 5.1 6%
OALP	3.1 3.5 (10%) 3.5 3.4 3.8 (10%)
Average Daily Working Interest Production	53.9 63.1 (15%) 55.9 57.2 67.8 (16%)
Rajasthan	47.0 54.6 (14%) 48.3 49.3 59.0 (16%)
Ravva	1.7 1.9 (13%) 1.8 1.8 2.3 (20%)
Cambay1	1.5 2.5 (39%) 1.7 2.1 2.0 6%
KG-ONN 2003/1	0.5 0.6 (12%) 0.6 0.5 0.7 (21%)
OALP	3.1 3.5 (10%) 3.5 3.4 3.8 (10%)
Total Oil and Gas(million boe)
Oil & Gas- Gross operated	7.3 8.7 (15%) 7.8 31.8 37.7 (16%)
Oil & Gas-WorkingInterest	4.8 5.7 (15%) 5.1 20.9 24.7 (16%)
Financials (In₹ crore, or as stated)
Revenue	2,583 2,658 (3%) 2,366 9,582 11,044 (13%)
EBITDA	1,065 1,212 (12%) 989 4,350 4,664 (7%)
Average Oil Price Realization ($/bbl)	79.4 70.9 12% 61.3 68.3 74.2 (8%)
Brent Price($ / bbl)	81.1 75.7 7% 63.7 70.5 78.9 (11%)

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Vedanta Limited 4QFY26 Investor Presentation

On 19th September 2025, MoPNG informed the contractors of the block (a three-party Joint Venture, including Vedanta as Operator) that their application for PSC extension hadn’t been accepted. Vedanta has challenged the said rejection before Delhi High Court. The Hon’ble Delhi High Court has, vide its order dated 6th January 2026, directed the parties to maintain status quo and accordingly, Vedanta continues to operate the Block. Cambay block average production per day factors volume till 31st March 2026 and is subject to outcome of the litigation. The matter is currently sub-judice.

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Se ment Summar – Oil & Gas g y

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Production(In kboepd, or as stated)	Quarter Full Year	Quarter Full Year	Quarter Full Year	Quarter Full Year
	4QFY26	4QFY25	% YoY	3QFY26 FY26 FY25 % YOY
Average Daily Production
Gross operated	81.5 96.2 (15%) 84.9 87.2 103.2 (16%)
Oil	66.1 76.4 (13%) 68.7 70.2 81.8 (14%)
Gas(Mmscfd)	92 119 (22%) 97 102 129 (21%)
Non-operated- Workinginterest	0.5 0.6 (12%) 0.6 0.5 0.7 (21%)
WorkingInterest	53.9 63.1 (15%) 55.9 57.2 67.8 (16%)
Rajasthan(Block RJ-ON-90/1)
Gross operated	67.1 78.0 (14%) 69.0 70.4 84.3 (16%)
Oil	55.3 62.5 (12%) 57.3 57.9 67.7 (14%)
Gas(Mmscfd)	71 93 (23%) 70 75 100 (25%)
Gross DA 1	57.2 66.9 (15%) 59.2 60.5 72.5 (17%)
Gross DA 2	9.9 10.9 (9%) 9.6 9.8 11.7 (16%)
Gross DA 3	0.1 0.1 (28%) 0.1 0.1 0.1 (15%)
WorkingInterest	47.0 54.6 (14%) 48.3 49.3 59.0 (16%)
Ravva(Block PKGM-1)
Gross operated	7.4 8.5 (13%) 8.2 8.1 10.1 (20%)
Oil	7.1 8.1 (12%) 7.8 7.7 9.6 (20%)
Gas(Mmscfd)	2 3 (38%) 2 2 3 (33%)
WorkingInterest	1.7 1.9 (13%) 1.8 1.8 2.3 (20%)
Cambay (Block CB/OS-2)
Gross operated	3.8 6.2 (39%) 4.3 5.3 5.1 6%
Oil	3.0 5.0 (39%) 2.9 3.9 3.7 5%
Gas(Mmscfd)	5 8 (38%) 8 9 8 7%
WorkingInterest	1.5 2.5 (39%) 1.7 2.1 2.0 6%
OALP
Gross operated	3.1 3.5 (10%) 3.5 3.4 3.8 (10%)
Oil	0.6 0.7 (15%) 0.7 0.7 0.8 (18%)
Gas(Mmscfd)	15 16 (8%) 17 17 18 (8%)
WorkingInterest	3.1 3.5 (10%) 3.5 3.4 3.8 (10%)
Average Price Realization
Cairn Total(US$/boe)	77.5 75.6 3% 64.5 70.5 75.7 (7%)
Oil(US$/bbl)	79.4 70.9 12% 61.3 68.3 74.2 (8%)
Gas(US$/mscf)	11.6 15.3 (24%) 12.6 13.0 13.5 (3%)

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Vedanta Limited

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4QFY26 Investor Presentation

Se ment Summar – Iron Ore and Steel g y

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Iron Ore

Production(In million dry metric tonnes, or as stated)	Quarter Full Year	Quarter Full Year	Quarter Full Year	Quarter Full Year
	4QFY26	4QFY25	% YoY	3QFY26 FY26 FY25 % YoY
Production of Saleable Ore	2.1 2.1 (1%) 1.6 6.5 6.2 5%
Goa	0.9 0.4 106% 0.4 1.6 0.9 67%
Karnataka	1.2 1.7 (28%) 1.2 5.0 5.3 (5%)
Production (’000 tonnes)
Pig Iron	215 205 5% 229 895 817 10%
Financials(In₹ crore, or as stated)
Revenue	1,722 1,527 13% 1,953 6,457 6,086 6%
EBITDA	411 311 32% 284 1,007 1,006 -

Steel

Production(In ‘000 tonnes, or as stated)	Quarter Full Year	Quarter Full Year	Quarter Full Year	Quarter Full Year
	4QFY26	4QFY25	% YoY	3QFY26 FY26 FY25 % YoY
Total Production	354 355 (1%) 325 1,301 1,337 (3%)
Pig Iron	62 40 55% 32 192 221 (13%)
Billet Production	287 285 1% 285 1,062 971 9%
Billet Consumption (inter category adj.)	(271) (263) 3% (261) (998) (927) 8%
TMT Bar	151 140 8% 139 525 489 7%
Wire Rod	112 116 (3%) 115 445 413 8%
Ductile Iron Pipes	12 37 (68%) 15 75 171 (56%)
Financials (In₹ crore, or as stated)
Revenue	2,107 1,877 12% 1,904 7,304 7,928 (8%)
EBITDA	145 151 (4%) (37) 164 522 (69%)
Margin ($/t)	56 46 21% (13) 18 46 (61%)

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Vedanta Limited 4QFY26 Investor Presentation

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Se ment Summar – Facor and Co er g y pp

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FACOR

Production(In ’000 tonnes, or as stated)	Quarter Full Year 4QFY26 4QFY25 % YoY 3QFY26 FY26 FY25 % YoY	Quarter Full Year 4QFY26 4QFY25 % YoY 3QFY26 FY26 FY25 % YoY	Quarter Full Year 4QFY26 4QFY25 % YoY 3QFY26 FY26 FY25 % YoY	Quarter Full Year 4QFY26 4QFY25 % YoY 3QFY26 FY26 FY25 % YoY
		4QFY25	% YoY	3QFY26 FY26 FY25 % YoY
Total Production
Ore Production	113 65 74% 103 371 250 49%
Ferrochrome Production	30 11 163% 24 101 83 21%
Financials(In₹ crore, or as stated)
Revenue	335 157 - 254 1,094 921 19%
EBITDA	88 (2) - 36 191 40 -
Margin($/MT)	353 25 - 201 251 100 -

Copper

Production(In ’000 tonnes, or as stated)	Quarter Full Year	Quarter Full Year	Quarter Full Year	Quarter Full Year
	4QFY26	4QFY25	% YoY	3QFY26 FY26 FY25 % YoY
Copper - Cathodes	42 44 (4%) 45 170 149 14%
Financials(In₹ crore, or as stated)
Revenue	9,448 6,138 54% 8,643 31,069 23,051 35%
EBITDA	8 (49) - (16) (48) (112) (57%)
Copper LME Price ($/MT)	12,844 9,340 38% 11,092 10,817 9,371 15%

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Vedanta Limited 4QFY26 Investor Presentation

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Sales Summary – Zinc and Aluminium

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Sales volume	Quarter Full Year	Quarter Full Year	Quarter Full Year
	4QFY26	4QFY25	3QFY261 FY26 FY25 2
Zinc-India Sales
Refined Zinc(kt)	228 218 221 851 827
Refined Lead(kt)	55 56 49 197 225
Total Zinc-Lead (kt)	282 274 270 1,048 1,053
Silver(tonnes)	176 177 158 627 687
Zinc-International Sales
Zinc Concentrate(MIC)	43 44 52 197 152
Total Zinc(Conc)	43 44 52 197 152
Lead Concentrate(MIC)	3 6 6 23 26
Total Zinc-Lead(kt)	46 51 57 221 179
Aluminum Sales
Value-addedproducts(kt)	395 338 354 1,456 1,274
Sales - Ingots(kt)	223 274 268 995 1,140
Total Aluminum sales(kt)	618 613 622 2,451 2,414

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1. Including sales volumes during stabilization period. 2. Value Added Products has been re-classified for FY25.

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Vedanta Limited 4QFY26 Investor Presentation

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Sales summary – Iron & Steel, FACOR and Power

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Sales volume	Quarter Full Year	Quarter Full Year	Quarter Full Year
	4QFY26	4QFY25	3QFY26 FY26 FY25
Iron ore sales
Goa(mn dmt)	0.7 0.3 0.4 1.5 0.6
Karnataka(mn dmt)	0.6 1.3 0.9 2.9 4.8
Total(mn dmt)	1.3 1.6 1.3 4.4 5.4
PigIron(kt)	221 212 230 903 808
Steel sales(kt)	371 372 310 1,301 1,337
PigIron	60 40 32 189 220
Billet	24 22 18 66 47
TMT Bar	155 147 135 524 489
Wire Rod	114 122 113 443 412
Ductile Iron Pipes	18 41 13 79 169
Facor sales
Ferrochrome(kt)	30 14 23 99 84
Copper-India sales
Copper Cathodes(kt)	4.5 1.2 1.5 7.5 10.3
Copper Rods(kt)	51 49 51 197 181

Sales volume	Quarter Full Year	Quarter Full Year	Quarter Full Year
Power Sales(mu)	4QFY26	4QFY25	3QFY26 FY26 FY25
Jharsuguda	896 399 726 2,604 2,244
TSPL1	2,386 2,358 1,973 9,863 10,230
HZL Windpower	56 63 50 372 348
Meenakshi	587 90 261 1,637 160
Athena	1,066 - 891 2,293 -
Total sales	4,990 2,910 3,901 16,770 12,983
Power Realizations (₹/kWh)
Jharsuguda 600 MW	2.33 2.56 2.38 2.47 3.03
TSPL1	4.25 3.96 3.49 4.25 4.06
HZL Windpower	3.69 3.77 3.58 3.63 3.95
Meenakshi	6.85 5.77 7.59 6.85 5.77
Athena	4.89 - 4.57 4.96 -
**Average Realisations2 **	4.43 3.22 4.13 4.40 3.31
Power Costs(₹/kWh)
Jharsuguda 600 MW	2.16 3.74 2.34 2.49 3.33
TSPL1	3.47 3.04 2.85 3.41 3.23
HZL Windpower	1.75 1.90 2.27 1.24 1.40
Meenakshi	5.27 8.76 6.98 5.78 9.47
Athena	2.64 - 2.91 3.00 -
**Average costs2 **	3.05 4.35 3.23 3.37 3.44
EBITDA(₹ crore)	566 131 369 1,623 737
TSPL PAF	77% 76% 75% 83% 81%

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• .

• 1. Based on Availability 2. Average excludes TSPL PAF: Plant Availability Factor

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Vedanta Limited 4QFY26 Investor Presentation

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Grou structure p

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As of 31-Mar-26
Vedanta
Listed entities
Resources Ltd
Unlisted entities
Divisions of Vedanta Limited
⚫ Sesa Iron Ore
56.38%
⚫ Sterlite Copper
⚫ Power (600 MW Jharsuguda)
Vedanta Ltd
⚫ Aluminium
(Odisha aluminium and power assets)
⚫ Cairn Oil & Gas
Subsidiaries of Vedanta Ltd ⚫ Athena (1200 MW)
60.71% 51% 100% 100% 95.5% 100% 100% 100% 100%
Zinc
International
Meenakshi Vedanta Vedanta Semi-
Bharat (Skorpion - Talwandi Ferro Alloy
Zinc India ESL Steel Energy Display conductor Pvt
Aluminium 100% Sabo Power Corporation
(HZL) Limited Limited Limited Limited
(BALCO) BMM & (1,980 MW) Ltd. (FACOR)
(1000 MW)
Gamsberg-
74%)
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*50% of the share in the RJ Block is held by a subsidiary of Vedanta Ltd

43

Vedanta Limited 4QFY26 Investor Presentation

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Currency and commodity sensitivities

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Foreign Currency - Impact of ₹ 1 depreciation in FX Rate Currency Increase in EBITDA INR/USD ~₹ 1050-1100 crore / year

Commodity prices – Impact of a 10% increase in Commodity Prices	Commodity prices – Impact of a 10% increase in Commodity Prices	Commodity prices – Impact of a 10% increase in Commodity Prices
Commodity	FY26 Average price	Impact on EBITDA ($mn)
Oil ($/bbl)	70	38
Zinc ($/t)	2,970	278
Aluminium ($/t)	2,775	641
Lead ($/t)	1,954	37
Silver ($/oz)	53	112

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Vedanta Limited 4QFY26 Investor Presentation

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Awards and Accolades Recognitions towards our commitment to excellence

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HZL placed 2 [nd] in
TSPL won the Water Vedanta Lanjigarh
Vedanta and HZL Vedanta Jharsuguda
Water Stewardship at
recognized as India’s Honored with the Efficient Award at Project Sangam
most sustainable ‘Indian Manufacturer the CEE Power-Gen Corporate Honored with National
Governance &
company by of the Year’ award by Water Management Feather Award for
Sustainability Vision
Businessworld Frost and Sullivan Summit 2026 Water Stewardship
Summit by ICC
Sesa Goa won an
Vedanta Aluminium TSPL won 2 awards:
wins Best CSR Award HZL recognized as the FACOR secured award in green Biomass Co-firing
for contribution best organization for two prestigious mining & placed 1 [st] in Excellence & Reducing
awards at the Indian Mineral Conservation
towards community Women at the 6th NSHR Award by
Bureau of Mines’ 27th & 2 [nd] in Mineral
welfare & health edition of ET Edge by Mission Energy
MEMC Week Beneficiation at
initiative -TB Times Group. Foundation
MEMC Week
elimination
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Vedanta Limited 3QFY26 Investor Presentation

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Earnings Call Details

Event	Telephone Number	Telephone Number
Earnings conference call on April 29, 2026, from 5:00 PM to 6:00 PM (IST)	Universal Dial-In	+91 22 6280 1114 +91 22 7115 8015
	India National Toll Free	1 800 120 1221
	International Toll Free*	Canada 01180014243444
		Hong Kong 800964448
		Japan 00531161110
		Netherlands 08000229808
		Singapore 8001012045
		South Korea 00180014243444
		UK 08081011573
		USA 18667462133
Online Registration Link	For Registration - Click Here
Call Recording	This will be available on Companywebsite on April 30, 2026

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Cautionary Statement and Disclaimer

The views expressed here may contain information derived from publicly available sources that have not been independently verified.

No representation or warranty is made as to the accuracy, completeness, reasonableness or reliability of this information. Any forward-looking information in this presentation including, without limitation, any tables, charts and/or graphs, has been prepared on the basis of a number of assumptions which may prove to be incorrect. This presentation should not be relied upon as a recommendation or forecast by Vedanta Resources Limited and Vedanta Limited and any of their subsidiaries. Past performance of Vedanta Resources Limited and Vedanta Limited and any of their subsidiaries cannot be relied upon as a guide to future performance.

This presentation contains 'forward-looking statements' – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' or 'will.' Forward– looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a environmental, climatic, natural, political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements. We caution you that reliance on any forward-looking statement involves risk and uncertainties, and that, although we believe that the assumption on which our forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forwardlooking statement based on those assumptions could be materially incorrect.

This presentation is not intended, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities in Vedanta Resources Limited and Vedanta Limited and any of their subsidiaries or undertakings or any other invitation or inducement to engage in investment activities, nor shall this presentation (or any part of it) nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.

IR contact: Mr. Charanjit Singh, Group Head Investor Relations, Vedanta Email: charanjit.singh@vedanta.co.in | vedantaltd.IR@vedanta.co.in

Sensitivity: Internal (C3)