Disclosure Devil - Summary

September 20, 2025 To, Dept. of Corporate Services, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001, Maharashtra, India. Scrip Code: 504341 National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400 051, Maharashtra, India. Scrip Code: RELTD ISIN: INE206N01018 Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. In continuation to intimation submitted on September 12, 2025 with stock exchange in relation to Analyst/Investor Meeting scheduled on Monday, September 22, 2025. In respect of that matter, we are submitting presentation copy with stock exchange. This event is being organized by our Investor Relations Advisor, ‘GOINDIA ADVISORS LLP’. Any queries related to the event should be emailed to Ms. Monali Jain at : monali@goindiaadvisors.com This intimation is also being placed on the website of the Company at: www.ravindraenergy.com You are requested to take the above announcement on your record and disseminate the same for the information of the stakeholders. Thanking you. Yours faithfully, FOR RAVINDRA ENERGY LIMITED ____________________________ Madhukar R Shipurkar Company Secretary & Compliance Officer Date : September 20, 2025 Place : Belgaum Registered Office: BC 105, Havelock Road, Camp, Belgaum – 590001, Karnataka, India. P +91-831-2406600 | CIN L40104KA1980PLC075720 | W www.ravindraenergy.com | E contact@ravindraenergy.com RAVINDRA ENERGY LIMITED Corporate Presentation- September, 2025 Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Ravindra Energy Limited (the “Company”) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. Certain statements in this presentation concerning our future growth prospects are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The Risk and uncertainties relating to the statements include, but are not limited to, risks and uncertainties regarding fiscal policy, competition, inflationary pressures and general economic conditions affecting demand / supply and price conditions in domestic and international markets. The company does not undertake to update any forward – looking statement that may be made from time to time by or on behalf of the company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. The Company does not make any promise to update/provide such presentation along with results to be declared in the coming years. Corporate Presentation 2025 3 Rs 250 Cr Revenue & Rs 42 Cr EBITDA (FY25) Renewable Energy Business Electric Vehicle Business • Distributed Renewable Energy Generation • Establishing nationwide network of Charging cum Battery Swapping Stations • Assembly of Electric Tractors and Batteries • Providing Battery as a Service (BaaS) Service / Product Offering Company’s Snapshot • Electrification of rural feeders • Corporate & Industrial consumers • Heavy Duty Goods Vehicles • Ports, Mines, & Heavy Industry Focus areas • 158 MWp operational • 87 MWp under construction • 258 MWp under development • Homologation of 55 Ton EV tractors completed • Sold 125 e-Tractors • Setting up an EV Assembly plant in Pune Current capacity and Status Business Verticals Business Updates Renewable Energy Business Corporate Presentation 2025 5 • Co-Founder of Shree Renuka Sugars, one of the largest sugar and ethanol companies globally • Chairperson of Shree Renuka Development Foundation • Recipient of Karnataka Ratna • BSc & Honorary Doctorate • 20+ years of corporate experience • Core strengths in Business Development, Regulations, Finance & Project Execution • B.Com (H) & Chartered Accountant • 12+ years of experience in power sector • Selling to C&I customers since 2015 • Strong network in states of Karnataka, Maharashtra and Gujarat • B. Tech (EEE) & MBA (Operations & Marketing) Dr Vidya Murkumbi Chairperson and Director - REL Shantanu Lath Chief Executive Officer & Director - REL Yash Marwari Business Development Head - REL Vikas Pawar Chief Financial Officer • 10+ years of experience in financial audit, tax advisory services & budgeting • Compliance of various laws & regulations w.r.t. financial reporting • Chartered Accountant Key Management Team: RE Business Corporate Presentation 2025 6 • We sell Renewable Energy against long term power purchase agreements • Government: rural feeder level solarization • Corporate & Industrial consumers: open access and rooftop We are a Renewable Energy Developer • Already commissioned: 158 MWp • Under construction: 87 MWp • Under development/Pipeline: 258 MWp • Land aggregation: More than 1,000 acres in last two years • Execution: commissioned 200 MWp of solar projects (over 50 locations) • Third party validation: developed and sold RE Parks of 700 MWp capacity to large PE funds We focus on distributed solar (smaller plants; multiple locations) Aim to be 1 GW operating portfolio by March 28 Demonstrated track record of execution Renewable Energy Business: Summary Corporate Presentation 2025 7 a a • Increasing revenue subsidy burden on the state utilities • Electricity available at odd hours- utilities supply only when they have excess electricity • Install small solar projects at rural substations- cap the cost of supply for long term and provide energy during the day • Decongest the state grid by generating power at the point of consumption Key issues with rural supply and consumption • Subsidy from central government • Higher tariff by state utilities • Supportive regulatory regime • Agricultural consumption accounts for 30% of the total electricity consumption in India • Rural Feeder Solarisation is a 25,000 MW opportunity Policy Direction Implementation: KUSUM scheme of central government/state government Market size Rural Feeder Solarization: Opportunity Rationale Corporate Presentation 2025 8 Maharashtra Karnataka # of Locations Capacity (in MWp) 17 117 Operating projects # of Locations Capacity (in MWp) 17 76 Under Construction projects # of Locations Capacity (in MWp) 14 34 Operating projects Rural Feeder Solarization: Project Snapshot Corporate Presentation 2025 9 Annual installation of solar open access projects in India was 6.9 GW in CY 2024 20% savings compared to DISCOM tariff Hedge against inflation in power costs - base industrial tariff has increased at CAGR of 3.9% over 13 years ESG targets such as net zero 3,900 683 1,700 3,300 3,900 6,900 Till CY 2019 CY 2020 CY 2021 CY 2022 CY 2023 CY 2024 Solar Open Access Installations in MW Solar Open Access Installations in MW Corporate Business: Key Driver Why consumers are opting for open access Corporate Presentation 2025 10 • Sold the portfolio to iSquared Capital and others • Clients included Hyundai Construction Equipment Pvt. Ltd. Developed 700 MWp RE Parks in Rajasthan, Maharashtra and Karnataka • 68.67 MU of renewable energy traded in FY 2025 • Initiated trading of RECs and iRECs • 5 MWp operating rooftop projects • Distributed over 21 different locations Long term PPA under group captive model Renewable Energy Trading Solar rooftop under PPA and EPC model • 11 MWp PPA signed with multiple C&I customers • Expected commissioning in FY 2026 Corporate Business: Project Snapshot Corporate Presentation 2025 11 1. Acquired in Dec’24 2. LOI issued Sr. Project Name Offtaker Capacity (in MWp) COD/SCOD Net Avg. Tariff (Rs/unit) A Operating 1 Karnataka Karnataka DISCOMs 34.15 Aug-2017 7.16 2 Rooftop Multiple Pvt Consumers (MH & KA) 5.08 2018-2025 3.50 - 7.50 3 Wind Asset1 Private Consumer (Maharashtra) 1.25 Mar-2006 3.50 - 4.50 4 MSKVY-1 MSEDCL (Maharashtra DISCOM) 117.45 Aug-2025 3.15 Sub Total (A) 157.92 B Under Commissioning 1 MSKVY-1 MSEDCL (Maharashtra DISCOM) 18.37 Oct-2025 3.15 2 MSKVY-2 MSEDCL (Maharashtra DISCOM) 57.20 Mar-2026 3.18 3 Open Access Private Consumers (Maharashtra) 11.04 Sep-2025 3.20 - 4.20 Sub Total (B) 86.61 C Under Development/Pipeline 1 MSKVY-32 MSEDCL (Maharashtra DISCOM) 157.50 Mar-2027 2.94 2 Pipeline DISCOM & Private Consumers (MH & KA) 100.00 Mar-2027 2.94 - 4.20 Sub Total (C) 257.50 Grand Total 502.04 Existing Portfolio Corporate Presentation 2025 12 1. Only considering electricity generation revenue from RE projects commissioned till Mar’27 2. Revenue is basis P-75 generation estimate for Under-Commissioning & Under-Development projects Particulars UoM FY 2025 FY 2026 FY 2027 FY 20281 Operating Capacity at the start of the FY (in MWp) 40.1 64.3 244.5 502.0 Operating Capacity added during the FY (in MWp) 24.2 180.3 257.5 - Revenue from Electricity Generation2 (in Rs Cr) 71.9 80.8 144.9 266.6 Revenue from EPC (in Rs Cr) 178.4 435.0 655.7 - Revenue from O&M (in Rs Cr) 0.1 - - - Total Revenue from Operations (in Rs Cr) 250.4 515.8 800.6 266.6 EBITDA (in Rs Cr) 42.4 92.1 127.8 196.0 Networth (in Rs Cr) 339.0 379.2 598.9 625.8 Borrowings (in Rs Cr) 189.9 452.9 972.2 944.7 Earnings Guidance Business Updates Electric Vehicle Business (49.5% held by Ravindra Energy Limited) Corporate Presentation 2025 14 Key Management Team: EV Business • Vice Chairman of Ravindra Energy Limited • Co - Founder of Shree Renuka Sugars • Awarded ‘The Entrepreneur of the Year’ at the Economic Times Awards in 2010 • B.Tech (Electronics), MBA (IIM-A) Narendra Murkumbi CEO and Managing Director – EIM • 30+ years of experience in Mfg. in automotive industry • Leading Mfg. Engineering, Sourcing & Supply chain, Quality & Distribution • Joined us from Ashok Leyland after 16.5 years of successful stint with them • VLFM, B.Sc (Mechanical Engineering) Mahesh Keskar Senior Vice President – Manufacturing • 32+ years of experience in sales & marketing across steel & cement sector • Successfully led sales team at Tata Steel, JSPL, Ambuja Cement and Holcim • Drives growth through innovative market strategies & people- centric leadership • MBA (Marketing) Amit Agarwal President – Sales & Marketing Corporate Presentation 2025 15 Key Management Team: EV Business • 30+ years of experience in R&D and engineering • Deep domain expertise spans Li- ion cell chemistry, system integration for heavy EVs • He was instrumental in developing EV battery packs and systems at Tata Motors • M.Eng (Mechanical Engineering) Kapil Baidya Vice President & Head – Battery Technology • 10+ years of experience in renewable energy • Leading R&D in grid-scale ESS, HD EV truck tech & EV charging infra • Technical expertise spans system design, process optimization & comprehensive project management • M.Sc. (Management of Technology) Munjal Savla General Manager – Technology • 18+ years of experience in after- sales management for electric & commercial vehicles • Excels in managing large EV fleets and depot operations nationwide • Previously associated with Olectra, Ashok Leyland and Tata Motors • MBA, BE (Mechanical Engineering) Basavaraj Koraddi Senior General Manager – Aftersales Service Corporate Presentation 2025 16 EIM strategy is based on: Our Strategy in EV Business High performance & reliable vehicles from a strong OEM partner 01 Swapping & charging stations in easy reach 02 Arranging financing for customers on par with diesel vehicle financing 03 100% renewable energy solutions for charging the EVs 04 Build market leadership in Heavy Commercial Electric Transport Corporate Presentation 2025 17 Sale of e-Tractors Battery as a Service Our Business Model Bare e-Tractor Ownership Corporate Transporters Or Battery pack Ownership Charging / Swapping Infrastructure End to end supply of green energy Corporate Presentation 2025 18 Opportunity size: Learning from China’s experience 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% - 15,000 30,000 45,000 60,000 75,000 90,000 CY 2023 CY 2024 1H 2025 Number of units sold Market Share (% of Heavy Duty Trucks) Market share of Electric Trucks amongst heavy duty trucks in China has increased from 5% in CY 2023 to 25% in June 2025 Heavy Duty Truck market size in India ✓Heavy Duty Trucks sold in India in CY 2024: 2,69,013 Units ✓Sales of 55 T GVW HDT in CY 2024: 59,332 Units Growth Drivers of Heavy Duty Truck market ✓Improving road network ✓Lower Cost per ton per km Corporate Presentation 2025 19 Unit Economics of EV are already compelling Diesel Tractor EIM e-Tractor Sale Price without battery (in Rs) 31,00,000 63,00,000 Variable costs per km for the user (in Rs) 39.2 28.0 Usage per month (in kms) 6,000 6,000 Variable costs per month (in Rs) 2,35,200 1,68,000 Savings per month over Diesel Tractor (in Rs) 67,200 Breakeven for excess capex (in months) 48 Price of e-Tractors expected to reduce over the next couple of years due to localization and economies of scale in India 01 Life of EV tractors expected to be longer than diesel tractors as they have fewer moving parts and no complex engine 02 Corporate Presentation 2025 20 China-based FOTON is one of the largest CV manufacturers in the world It sold over 600,000 CVs last year globally. In comparison, Tata Motors has sold ~349,000 units and Ashok Leyland has sold ~179,000 units. 6 years of exclusivity to market, assemble and distribute electric heavy duty commercial (cargo) vehicles in India. Co-branding with EIM logo is allowed. Localization of components is allowed. Our Technology partner: FOTON Key tenets of the Agreement Corporate Presentation 2025 21 Current Status • 6 vehicles operating in JNPT for last 9 months on trial. • Successfully completed homologation of our 55 Ton swappable heavy duty electric tractor by ARAI. • Issued the first invoice for 1 e-Tractor on 01st August 2025. • Order booked for 125 e-Tractors. • 100 e-Tractors are being delivered in September 2025. • Project finance for required battery packs and swap stations sanctioned by ICICI Bank. • Signed MoU with Government of Maharashtra to set up our assembly plant in Pune. • First phase investment of Rs 100 crore. • First vehicle roll out aimed for June 2026. Corporate Presentation 2025 22 Swapping time < 8 mins Simultaneous charging cum swapping of 4 vehicles per swap station Lesser land requirement, on per vehicle basis Uniform Grid load Battery Swapping cum Charging Battery charging time > 75 mins Single vehicle per charging gun Larger land requirement for parking vehicles while charging May cause load fluctuation on Grid Charging Battery Swapping Station: Key advantages Swapping station ensures increased productivity and efficiency, saving time, cost and space Corporate Presentation 2025 23 Battery Tech Strategy EIM aims to develop deep expertise in battery design and life-cycle management Our vehicles use battery packs from CATL - World’s foremost producer. We have established direct techno-commercial relationship with CATL. Battery cells expected to be imported for the foreseeable future. Battery pack would be indigenized by 2026. Negotiations for tech under way. Dedicated battery-tech group set-up and working on life cycle management and tropicalization of heavy -duty battery packs. Corporate Presentation 2025 24 Earnings Guidance FY 2026 FY 2027 Annual Deployment Tractor Sales 400 - 600 Units 1000 - 1500 Units Swap Stations 8 - 10 Units 20 - 30 Units Sale Price Tractors Sale Price Rs 63 Lakhs Rs 60 Lakhs BaaS Revenue per Tractor per year Rs 15 - 20 Lakhs Rs 15 - 20 Lakhs Capex per Swap Station Rs 35 - 40 Lakhs Rs 30 - 35 Lakhs Margins Gross Margin on Tractor Sales 3%-5% 3%-5% EBITDA Margin on BaaS 50%-70% 50%-70% 125 e-Tractors have already been sold in FY 2026. As we build out the swap station network, it is likely to have a multiplier effect attracting more customers. Capex per swap station likely to reduce over the next 12-18 months. 01 02 03 Historical Financial Performance Corporate Presentation 2025 26 Particulars (All amounts are in Rs Crs. except otherwise stated) FY23 FY24 FY25 Revenue from Operations 252.63 130.97 250.42 COGS 194.79 58.94 154.1 Gross Profit 57.84 72.02 96.32 Total Expenditure 44.37 38.98 53.89 EBITDA 13.47 33.05 42.43 EBITDA Margins (%) 5.3% 25.2% 16.9% Depreciation 11.34 13.39 11.47 Profit Before Interest & Tax 2.13 19.66 30.96 Exceptional Items 0.0 (64.51) (5.38) Interest expense 13.47 16.48 9.97 Other Income 33.17 15.47 11.79 Profit Before Tax (PBT) 21.82 (45.86) 27.40 Tax 5.08 5.00 4.11 Share of Profit / (loss) from Associate Company (0.05) (0.04) (1.48) Net Profit 16.70 (50.89) 21.81 Net Profit Margins (%) 6.6% (38.9%) 8.7% Diluted Earnings Per share (Rs.) 1.24 (3.48) 1.32 Consolidated: Profit and Loss Statement Corporate Presentation 2025 27 Particulars (in Rs Crs.) FY23 FY24 FY25 Non-Current Assets Property plant and equipment 187.27 257.03 317.57 Intangible Assets 0.17 0.16 0.18 Capital work-in-progress 31.02 24.16 129.01 Other Financial Assets 3.64 7.24 8.11 Non-current Investment 0.00 0.22 48.23 Other non-current assets 2.71 4.41 4.41 Total Non-Current Assets 224.81 293.23 507.51 Current Assets Inventories 4.47 2.92 4.37 Trade receivables 128.65 63.15 16.98 Cash and Bank Balance 22.68 24.75 84.10 Short Term loans and Advances 1.50 2.42 0.17 Other Financial Assets 0.37 2.81 2.88 Current Tax Assets (Net) 4.93 3.48 7.05 Other current assets 67.97 11.41 28.10 Total Current Assets 230.57 110.95 143.65 Total Assets 455.38 404.17 651.16 Particulars (in Rs Crs.) FY23 FY24 FY25 Equity Equity share capital 137.68 154.48 178.80 Instruments entirely equity in nature 17.50 2.30 0.00 Other equity 37.39 (9.09) 160.20 Non-controlling interests 15.38 17.48 15.23 Total Equity 207.95 165.17 354.23 Non-current liabilities Long Terms Borrowings 84.06 102.99 171.83 Other Financial Liabilities 2.93 11.04 34.17 Provisions 0.53 0.69 0.82 Deferred tax liabilities (net) 22.45 27.30 31.18 Others Long Term Liabilities 2.45 5.20 2.29 Total Non-Current Liabilities 112.42 147.22 240.29 Current liabilities Short term borrowings 32.77 45.00 18.03 Trade payables 74.07 40.93 27.52 Other Financial Liabilities 0.59 0.13 0.13 Current Tax Liabilities 0.10 0.08 0.28 Short terms Provisions 0.12 0.18 0.22 Other current liabilities 27.36 5.47 10.46 Total Current Liabilities 135.01 91.79 56.64 Total Equity and Liabilities 455.38 404.17 651.16 Consolidated: Balance Sheet Corporate Presentation 2025 28 Management Team Board of Directors Non - Executive Directors Independent Directors Mr. Narendra Murkumbi Vice Chairman Mr. Sidram Kaluti Mr. Ramesh Abhishek Mr. Robert Taylor Mrs. Poonam Lahoty Key Managerial Personnel Mr. Vikas Pawar Chief Financial Officer Mr. Madhukar Shipurkar Company Secretary & Compliance Officer Mr. Vinay Namjoshi Mrs. Vidya Murkumbi Executive Chairperson Mr. Shantanu Lath Chief Executive Officer For further information, please get in touch with: Thank You Monali Jain: Investor Relations monali@GoIndiaadvisors.com Sheetal Khanduja: Investor Relations sheetal@GoIndiaadvisors.com Madhukar R Shipurkar madhukar.shipurkar@ravindraenergy.com