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HIN World’s Largest Integrated Zinc Producer EARNINGS PRESENTATION 2QFY27 HINDUSTAN ZINC LIMITED
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v Cautionary Statement and Disclaimer 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 Hindustan Zinc Limited. Past performance of Hindustan Zinc 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 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 forward-looking 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 Hindustan Zinc 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. 2Earnings Presentation 2QFY27
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Index of Contents Index of Contents Sustainability Update Sustainability Update Market Update Market Update Operational and Project Update Operational and Project Update Financial Review Financial Review Appendix Appendix 3 Key Highlights Key Highlights 08 08 12 12 16 16 20 20 24 24 04 04 Earnings Presentation 2QFY27
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Record Volumes and Lower Cost Drive Highest-ever Financial Performance Record Volumes and Lower Cost Drive Highest-ever Financial Performance Record 2Q Production Mined metal production 271 KT, ↑ 5% YoY Refined metal production 264 KT, ↑ 7% YoY Siver production 173 MT, ↑ 20% YoY Zinc COP Zinc cost of production excluding royalty $703/MT, better 29% YoY Record Quarterly Performance Record 1H Production Mined metal production 539 KT, ↑ 3% YoY Refined metal production 524 KT, ↑ 6% YoY Silver production 321 MT, ↑ 10% YoY Highest-ever Financial Performance Zinc COP Precious Metal Contribution Historic Half Year Performance Revenue from operations ₹ 28,840 crore, ↑ 77% YoY EBITDA ₹ 17,359 crore, ↑ 108% YoY Net Profit ₹ 11,881 crore,↑ 143% YoY Silver continued to contribute c.45% to the overall profitability 4Earnings Presentation 2QFY27 Zinc cost of production excluding royalty $776/MT, better 23% YoY Strong Free Cash Flow Achieved ₹ 6,389 crore free cash flow from operations Highest-ever Financial Performance Revenue from operations ₹ 15,093 crore, ↑ 77% YoY EBITDA ₹ 9,285 crore, ↑ 108% YoY Net Profit ₹ 6,412 crore, ↑ 142% YoY Note: Free cash flow is pre growth capex
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Unique Positioning in Metals Mining and Energy Transition Space Unique Positioning in Metals & Mining and Energy Transition Space World’s Largest Integrated Zinc Producer World’s Largest Zinc Mine at Rampura Agucha Among Top 10 Silver producers globally Among lowest cost Zinc producers globally World’s 2nd Largest Zinc & Lead Metal Reserves & Resources with 25+ years of mine life Ranked 1st in Metals & Mining sector in S&P Global CSA 2025 for the 3rd consecutive year 1st Indian Company to join the prestigious ICMM Asia’s first low carbon ‘green’ zinc producer 5 Source: Woodmac and World Silver Survey 2026 CSA: Corporate Sustainability Assessment; ICMM: International Council of Mining and Metals Note: India positioning is based on FY2026 Earnings Presentation 2QFY27 India’s only integrated producer of Zinc and Lead India’s only integrated and listed primary Silver company c.74% expected domestic primary zinc market share Consistently rated AAA by CRISIL Ratings Limited Well-Positioned to Capitalize on India’s Strong Growth Trajectory
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Building A Multi-metal Ecosystem Under India’s Critical Mineral Mission Building A Multi-metal Ecosystem Under India’s Critical Mineral Mission Poised to lead India's critical minerals ecosystem through diversification, systematic exploration, and sustainable resource development ZINC 6 Mineral Block Name Location Status update Exploration timeline Mining timeline Tungsten Balepalyam Andhra Pradesh Exploration started in Q4FY26 Sep’28 Sep’30 Potash Jhandawali-Satipura Rajasthan Grant of composite license Dec’28 Apr’30 REE Nawatola-Laband Uttar Pradesh Grant of composite license Dec’28 Jun’30 REE & Yttrium Gundlupet Karnataka LOI for preferred bidder received - - Earnings Presentation 2QFY27 Zinc underpins the energy transition through corrosion- resistant applications in renewable infrastructure, diverse industrial end markets, and emerging energy storage solutions. SILVER Essential for the energy transition, silver underpins EVs, electronics, infrastructure and renewables, driven by superior conductivity and limited substitutes.
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Building the intelligent and automated operations of tomorrow Building the intelligent and automated operations of tomorrow Smarter, connected & efficient operations 7 Technology already running at Mines • Pre-crush rock fragmentation analysis • Conveyor health monitoring • Tele-remote operation and 3D tracking • Collision avoidance system • Seismic & remote sensing risk monitoring • AI human detection & crane interlocking • Wireless drilling water pressure monitoring Intelligence running in Smelters • Predictive equipment health • Thermal monitoring of critical electrical assets • AI-led consumables optimization • Cellhouse performance intelligence • Crane interaction prevention • AI-enabled grate bar monitoring • AI switchyard hotspot monitoring Advancing digital and AI integration • Predictive infrastructure health • Froth process intelligence • Autonomous material handling • Connected drill to blast intelligence • Cell house digital twin • Process, cell and transaction intelligence • Energy optimization across CPPs Earnings Presentation 2QFY27 AI: Artificial Intelligence; CPPs: Captive Power Plants
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Sustainability Update 8 Earnings Presentation 2QFY27 Mr. Amarendu Prakash | CEO
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2QFY27 ESG Highlights RE: Renewable Energy; HZAPL: Hindustan Zinc Alloys Private Limited; EV: Electric Vehicle; ICFRE: Indian Council of Forestry Research & Education; AFRI: Arid Forest Research Institute; MoU: Memorandum of Understanding; TNFD: Taskforce for Nature-related Financial Disclosures ▪ 27% RE power out of overall power consumption ▪ HZAPL is now sourcing 100% power from RE sources ▪ Flagged off 1st EV crane of Rajpura Dariba Complex and 1st EV cherry-picker at Rampura Agucha Future ready today for a sustainable tomorrow Our transparent reporting practices ▪ Partnership with ICFRE–AFRI to establish scientifically planned, high-density plantations and a sustainable greenbelt at Chanderiya Lead-Zinc Smelter ▪ MoU signed with MFL India for 30 EV trucks at Rampura Agucha Mine Partnering for a greener future ▪ Published ESG reporting suite of FY2026: ▪ Sustainability Report ▪ TNFD Report ▪ Climate Action Report 9Earnings Presentation 2QFY27
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TRIFR: Total Recordable Injury Frequency Rate; STP: Sewage Treatment Plant; GHG: Greenhouse Gases Key ESG Performance Metrics Key ESG Performance Metrics 2.6 2.2 1.9 1.8 1.2 1.6 1.3 FY21 FY22 FY23 FY24 FY25 FY26 1HFY27 TRIFR Zero Harm 4 7 0 4 2 0 FY22 FY23 FY24 FY25 FY26 1HFY27 Fatalities Zero Harm 7.2 9.5 8.6 9.3 8.7 8.9 4.4 20.9 16.8 18.1 18.2 19.0 18.9 9.5 FY21 FY22 FY23 FY24 FY25 FY26 1HFY27 STP Water Fresh Water Water Withdrawal (million m3) Water Stewardship GHG intensity (Scope 1 + 2)/MT Cumulative Plantation (Lakhs) Waste Recycling % Circular Economy Climate Change Biodiversity Conservation 30 31 31 31 31 30 30 FY21 FY22 FY23 FY24 FY25 FY26 1HFY27 5.2 5.0 4.4 4.7 4.6 4.6 4.6 FY21 FY22 FY23 FY24 FY25 FY26 1HFY27 2.7 4.0 5.2 6.7 7.4 8.5 8.6 FY21 FY22 FY23 FY24 FY25 FY26 1HFY27 10Earnings Presentation 2QFY27
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Nand Ghars: Women and Childcare Centers Empowering Communities, Changing Lives Empowering Communities, Changing Lives 11 ₹ 278.15 Cr CSR Spend c.2.6 million Lives Benefitted 4,149 Villages Covered 38 districts Across 3 States 7 Verticals FY2026 Highlights Earnings Presentation 2QFY27 Sports & Culture 2 Initiatives 4,300+ Beneficiaries Health, Water & Sanitation 3 Initiatives 1,31,800+ Beneficiaries Environment & Safety 2 Initiatives 4,52,800+ Beneficiaries Education 6 Initiatives 1,44,300+ Beneficiaries Sustainable Livelihood 3 Initiatives 12,200+ Beneficiaries Community Asset Creation 1 Initiative 11,100+ Beneficiaries Women Empowerment 1 Initiative 25,530+ Beneficiaries 12,263 Nand Ghars In Rajasthan including 2,989 new Nand Ghars during 1HFY27
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12 Market Update Earnings Presentation 2QFY27 Mr. Amarendu Prakash | CEO
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Source: IMF for GDP, CEIC for PMI Strong infrastructure-led growth drive: Government capex up 2.6x over six years, with FY27 effective capex budgeted at a record ~4.4% of GDP India’s Strong Growth and Sustained Capex Support a Robust Demand Outlook India’s Strong Growth and Sustained Capex Support a Robust Demand Outlook 13Earnings Presentation 2QFY27 3.5 2.1 1.4 1.1 5 7.7 3 2.3 0.9 0.6 4.6 6.4 3.4 2.2 1.2 0.7 4.1 6.7 World USA Euro Area Japan China India GDP % 2025 2026f 2027f India is the fastest growing economy in the world 40 45 50 55 60 65 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 World China USA EU India Japan Global manufacturing PMI Global manufacturing expanded with limited war impact Manufacturing strengthened in Japan, US and EU, while China held steady on robust exports
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0 50 100 150 200 250 2,000 2,500 3,000 3,500 4,000 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Zinc Price ($/MT) LME Stock (KT) Continued supply disruptions supporting zinc prices strength Source: Woodmac for Price Outlook; Note: Zinc price outlooks are on CY basis; LME: London Metal Exchange; CAGR: Compounded Annual Growth Rate Zinc prices set to remain resilient (300) (100) 100 300 500 12,000 13,000 14,000 2022 2023 2024 2025 2026f Balance (KT) Supply (KT) Demand (KT) Limited project pipelines, mine closures and declining zinc exploration are expected to drive a structural supply deficit post-2030 Zinc demand to grow at 1.4% CAGR over the next decade, driven by urbanization, infrastructure and electrification Smelter capacity growth constrained by delayed additions, tight mine supply and modest utilization Average zinc reserve grades have declined from 6.9% in the 1990s to 2.8% in the current decade Tight Inventories and Supply Disruptions Driving a Zinc Market Deficit Globally Tight Inventories and Supply Disruptions Driving a Zinc Market Deficit Globally 14Earnings Presentation 2QFY27
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Global Silver Market Tightening Amid Structural Supply Constraints and Rising Industrial Demand Global Silver Market Tightening Amid Structural Supply Constraints and Rising Industrial Demand Silver market heading towards sixth straight year of deficit in 2026 as composition of demand is shifting markedly with constrained silver supply Declining grades and mining challenges are constraining silver supply, as lead-zinc, copper and gold mines contribute ~70% of global production Industrial share of silver demand rose from 46% in 2022 to 58% in 2025 Solar installations have grown ~9x since 2016 and are set to become the largest power source by 2032, as photovoltaics already driving ~17% of silver demand Electronics and renewable energy are expected to drive strong silver demand growth 17 16 16 21 25 22 23 28 40 68 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 till Sep 1.66 0.47 0.34 1.63 (2.60) (7.90) (6.22) (4.29) (1.25) (1.44) - 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 45.00 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026f Surplus/(Deficit) (KT) Demand (KT) Supply (KT) Silver Price ($/oz) Source: World Silver Survey 2026 for Silver Demand Trend 15Earnings Presentation 2QFY27
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Operational and Project Update 16 Earnings Presentation 2QFY27 Mr. Amarendu Prakash | CEO
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994 851 703 1,002 776 2QFY26 1QFY27 2QFY27 1HFY26 1HFY27 Zinc Cost of Production ($/MT)* Better by 29% Better by 23% 258 268 271 523 539 2QFY26 1QFY27 2QFY27 1HFY26 1HFY27 Record Operational PerformanceAmongst Lowest Cost Producers Globally Record Operational Performance Amongst Lowest Cost Producers Globally *excluding royalty Record second quarter mined metal production driven by higher ore production Record first half mined metal production for the 6th consecutive year Best-ever second quarter refined metal production mainly driven by additional capacity unlocked through smelter debottlenecking Best-ever first half refined metal production Lower quarterly COP* driven by better mined grades, increased metal production and higher by-product realisations Lower first half COP* in line with lower quarterly cost of production Mined Metal Production (KT) Up by 5% 246 260 264 496 524 2QFY26 1QFY27 2QFY27 1HFY26 1HFY27 Refined Metal Production (KT) Up by 7% 17Earnings Presentation 2QFY27 Up by 3% Up by 6%
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India’s Only Primary Silver Producer Uniquely Positioned to Ride the Silver Wave India’s Only Primary Silver Producer Uniquely Positioned to Ride the Silver Wave As silver shines globally, Hindustan Zinc is uniquely positioned to capture the upcycle Significant value unlock potential exists, as the current rally’s impact is yet to be fully reflected 18 Base Metal 55% Precious Metal 45% In 1HFY27, silver continues to contribute significantly to the profitability 144 149 173 293 321 2QFY26 1QFY27 2QFY27 1HFY26 1HFY27 Up by 20% Up by 10% Saleable Silver Production (MT) Earnings Presentation 2QFY27
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Projects Update Projects Update 250 KTPA Integrated Refined Zinc Capacity Expansion01 Status Update Engineering and procurement milestones largely achieved, with mine planning and underground development progressing well Status Update Project is advancing on schedule with critical equipment procurement completed and major construction activities underway India’s First Zinc Tailings Reprocessing Plant02 Transforming waste into valuable resources while contributing significantly to circular economy Refined metal capacity expansion 1.1 MTPA to 1.4 MTPA Total approved investment c.₹ 12,000 crore Target completion 2QFY29 Feed capacity 10 MTPA Total approved investment ₹ 3,823 crore Target completion 4QFY28 19 Note: Above projects are approved by the Board Earnings Presentation 2QFY27 At Debari
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Mr. Amit Gupta | CFO Financial Review 20 Earnings Presentation 2QFY27
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Financial Performance at an All-time High Financial Performance at an All-time High 4,467 8,074 9,285 8,328 17,359 52% 59% 62% 51% 60% Q2FY26 Q1FY27 Q2FY27 H1FY26 H1FY27 EBITDA (₹ crore) EBITDA Margin % Up 108% YoY Up 108% YoY 2,649 5,469 6,412 4,883 11,881 6 13 15 12 28 (10) (5) - 5 10 15 20 25 30 2000 4000 6000 8000 10000 12000 14000 16000 Q2FY26 Q1FY27 Q2FY27 H1FY26 H1FY27 Net Profit (₹ crore) EPS (₹/sh) Up 142% YoY Up 143% YoY 8,549 13,747 15,093 16,320 28,840 Q2FY26 Q1FY27 Q2FY27 H1FY26 H1FY27 As of 30th Sep, maintained healthy gross investments and cash of ₹ 17,439 crore. Total borrowings outstanding was ₹ 6,171 crore Contribution to National Exchequer of ₹ 13,027 crore in 1HFY27 including ₹ 3,724 crore to Rajasthan State (including mining royalties) 21Earnings Presentation 2QFY27 Revenue EBITDA & EBITDA margin Net Profit & EPS Highest-ever quarterly & half year EBITDA with industry-leading EBITDA margin Record quarterly and half year Net Profit Up 77% YoY Highest-ever quarterly and half year Revenue from operations Up 77% YoY Note: Contribution to National Exchequer and Rajasthan Exchequer numbers are unaudited (₹ crore)
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Delivering Superior Shareholder Returns Delivering Superior Shareholder Returns 22Earnings Presentation 2QFY27 A disciplined capital allocation framework — investing for growth, preserving financial strength and a dividend policy — is delivering shareholder returns consistently ahead of the market. Maximizing Long-term Total Shareholder Returns Total Shareholder Returns in 1HFY27 Capital Gain per Share ₹63.85 Dividend per Share ₹11 Total Shareholder Returns 15% Rank in Nifty Metal companies* Top 5 Total shareholder returns vs Nifty 100 4 times Total shareholder returns vs Nifty 50 12 times Rank in Nifty 100 companies* Top 40 Note: Returns are calculated based on closing prices for 30 th March 2026 and 30th September 2026 *Basis market capitalization of ₹239k crore as of 30 th September 2026
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Global Leadership • World's largest integrated zinc producer • Among top 10 global silver producers • World's 2nd largest zinc & lead R&R (~7% mine grade) • ~74% primary zinc market share • ~92% primary lead market share • India's only primary silver producer India Leadership • 2.0 MTPA refined metal capacity • 1,500 TPA silver capacity • 458 KTPA value-added products • India's first 10 MTPA zinc tailings reprocessing plant • Expanding into critical minerals (Tungsten, REE, Yttrium & Potash) • 510 KTPA fertiliserplant • 25+ years of mine life Growth Vision • Among the world's lowest-cost producers • Strong cash generation • Industry-leading margins • Consistent shareholder returns • Leading dividend payer in India • Consistent AAA credit rating • Industry-leading ROCE & ROE Financial Strength • No.1 in S&P Global CSA (3 years consecutively) • India's first ICMM member • S&P Global Sustainability Yearbook – Global Top 1% • 70% renewable power by FY28 • Net Zero by 2050 or earlier • EcoZen: ~75% lower carbon footprint • 2.6 million lives impacted across 4,149 villages Sustainability Why Hindustan Zinc – India’s most valued metals and mining company Why Hindustan Zinc – India’s most valued metals and mining company 23Earnings Presentation 2QFY27Note: India positioning is based on FY2026; R&R: Reserves & Resources; REE: Rare Earth Elements; ROCE: Return on Capital Empl oyed; ROE: Return on Equity; CSA: Corporate Sustainability Assessment; ICMM: International Council on Mining & Metals
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Appendix 24 Earnings Presentation 2QFY27
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4,467 2,899 987 8,353 627 322 (17) 9,285 2QFY26 Prices Fx Adj. EBITDA Volume Cost Marketing & others 2QFY27 Note: All figures are at consolidated level EBITDA Bridge YoY (2QFY27 vs 2QFY26) EBITDA Bridge YoY (2QFY27 vs 2QFY26) (All figures in ₹ crore unless stated otherwise) 25Earnings Presentation 2QFY27
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Income Statement Income Statement In ₹ Crore 2Q 1Q 1H FY27 FY26 FY27 FY27 Revenue 14,582 8,282 13,033 27,615 • Other operating income 511 267 714 1,225 Revenue from Operations 15,093 8,549 13,747 28,840 EBITDA 9,285 4,467 8,074 17,359 • Depreciation & amortization (962) (882) (920) (1,882) • Finance cost (88) (259) (132) (220) • Investment income 297 199 254 551 • Others 40 17 38 78 Profit before tax and exceptional 8,572 3,542 7,314 15,886 • Tax (Charge)/Credit (2,160) (893) (1,845) (4,005) Net profit 6,412 2,649 5,469 11,881 Earnings per share 15.18 6.27 12.94 28.12 26 Earnings Presentation 2QFY27 Revenue from operations 2Q was up, driven by higher metal prices, increased metal production, higher by-product realisation, and a stronger dollar. EBITDA 2Q was up, driven by increased metal production, higher metal prices, lower cost of production, and a stronger dollar. Depreciation & amortization 2Q was up in line with higher production Investment income 2Q was up in line with higher average investment and cash Finance cost 2Q was lower due to lower average borrowings
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Consolidated Performance Summary (1/2) Consolidated Performance Summary (1/2) Production (in ’000 tonnes, or as stated) Quarter Half Year 2QFY27 2QFY26 % YoY 1QFY27 % QoQ FY27 FY26 Mined metal content 271 258 5% 268 1% 539 523 Refined metal 264 246 7% 260 1% 524 496 Refined Zinc1 212 202 5% 213 (0.4%) 426 403 Refined Lead 51 45 14% 47 9% 99 93 Refined Saleable Silver (in tonnes) 173 144 20% 149 16% 321 293 Refined Saleable Silver (in million ounces) 5.6 4.6 20% 4.8 16% 10.0 9.4 Sales (in ’000 tonnes, or as stated) Lead concentrate2,3 10 - - 10 - 20 - Refined metal 265 247 8% 258 3% 523 496 Refined Zinc 214 202 6% 211 1% 425 403 Refined Lead 51 45 14% 47 9% 99 93 Refined Saleable Silver (in tonnes) 173 147 17% 149 16% 321 293 Wind power (in million units) 155 132 17% 133 17% 288 266 1. Includes 5 KT, 2.5 KT, and 3.3 KT from Hindustan Zinc Alloys (100% subsidiary of Hindustan Zinc) in 2QFY27, 2QFY26, and 1QFY2 7, respectively. It includes 8.3 KT in 1HFY27 and 7.5 KT in 1HFY26 2. Includes silver equivalent of 10 MT in 2QFY27, 9 MT in 1QFY27 and 19 MT in 1HFY27 3. Includes refined lead equivalent of 6 KT in 2QFY27, 6 KT in 1QFY27 and 12 KT in 1HFY27 27Earnings Presentation 2QFY27
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Consolidated Performance Summary (2/2) Consolidated Performance Summary (2/2) Financials (₹ crore, except as stated) Quarter Half Year 2QFY27 2QFY26 % YoY 1QFY27 % QoQ FY27 FY26 Revenue from operations 15,093 8,549 77% 13,747 10% 28,840 16,320 Zinc 8,224 5,354 54% 7,304 13% 15,528 10,289 Lead 1,130 840 35% 1,086 4% 2,216 1,712 Silver 4,111 1,706 141% 3,839 7% 7,950 3,133 Others 1,628 649 151% 1,518 7% 3,146 1,186 EBITDA 9,285 4,467 108% 8,074 15% 17,359 8,328 EBITDA margin (%) 62% 52% - 59% - 60% 51% Zinc CoP without Royalty (₹ /MT) 67,141 86,800 (23%) 80,446 (17%) 73,789 86,639 Zinc CoP without Royalty ($/MT) 703 994 (29%) 851 (17%) 776 1,002 Zinc CoP with Royalty ($/MT) 1,228 1,386 (11%) 1,330 (8%) 1,279 1,374 Zinc LME Price ($/MT) 3,825 2,825 35% 3,466 10% 3,651 2,736 Lead LME Price ($/MT) 1,857 1,966 (6%) 1,954 (5%) 1,904 1,957 Silver LBMA Price ($/oz) 62.6 39.4 59% 73.2 (14%) 67.7 36.6 INR:USD 95.57 87.31 9% 94.58 1% 95.08 86.44 28Earnings Presentation 2QFY27
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Commodity, Currency and COP Sensitivities Commodity, Currency and COP Sensitivities Note: All impact figures are approximated; COP: Cost of Production excluding royalty Impact of change in Commodity Prices on annual EBITDA Commodity Change Impact on EBITDA (₹ crore) Zinc $100/MT 725-750 Lead $100/MT 150-175 Silver $1/toz 200-225 Impact of change in zinc COP on annual EBITDA Particular Change Impact on EBITDA (₹ crore) Zinc COP $25/MT 225-250 Impact of exchange rate change on annual EBITDA Currency Change Impact on EBITDA (₹ crore) INR/USD ₹ 1 325-350 29Earnings Presentation 2QFY27
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Awards and Recognition | 2QFY27 Awards and Recognition | 2QFY27 Recognition for 10 MTPA zinc tailings reprocessing plant Royal Society for the Prevention of Accidents (RoSPA) Gold award for high level of health & safety performance 01 Recognized for sustainable building performance Head Office earned the prestigious Leadership in Energy and Environmental Design (LEED) Platinum certification 05 Recognition for sustainable procurement practices Platinum and Gold awards at the ET Edge - The Times Group SCM Fest Awards 2026 for excellence in procurement transformation 02 Five-Star grading for Zawar CPP In British Safety Council Five- Star Occupational Health and Safety Audit with 95% score 06 30ET: Economic Times; SCM: Supply Chain Management; HR: Human Resources; POSH: Prevention of Sexual Harassment; CPP: Captive Po wer Plant Earnings Presentation 2QFY27 PeopleFirst HR Excellence Awards Champion in Leading Practices in: • Employee Relations (Industrial Relations) • Best POSH Strategy (Safe Place to Work) • Technology Deployment in HR Winner in Leading Practices in Learning & Development 04 Recognised for the 5th consecutive year ‘Masters of Risk’ award for ESG in the Large Cap category at the 13th India Risk Management Awards by CNBC-TV18 03
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Integrated Annual Report Integrated Annual Report Climate Action Report Climate Action Report ASK ZINCKY ASK ZINCKY Strong Corporate Governance - Leading Reporting Practices Strong Corporate Governance - Leading Reporting Practices Tax Transparency Report Tax Transparency Report Taskforce On Nature-related Financial Disclosures (TNFD) Report Taskforce On Nature-related Financial Disclosures (TNFD) Report Sustainability Report Sustainability Report Digital Integrated Annual Report Digital Integrated Annual Report 31Earnings Presentation 2QFY27
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Group Structure of Hindustan Zinc Limited Group Structure of Hindustan Zinc Limited Hindustan Zinc group structure and shareholding is as on 30 th September 2026 Vedanta Limited and Hindustan Zinc Limited are listed entities Wholly-owned Subsidiaries 27.92% 60.71% Government of India Government of India Public Public 11.37% Hindustan Zinc Alloys Private Limited Vedanta Zinc Football and Sports Foundation Zinc India Foundation Hindustan Zinc Fertilizers Private Limited Hindmetal Exploration Services Private Limited 32Earnings Presentation 2QFY27
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Universal Access Playback Dial-In Number Playback Dates Playback Code +91 22 6280 1340 +91 22 7115 8241 +91 22 7194 5757 October 19 - October 26, 2026 09007# Raksha Jain Director - Investor Relations raksha.jain@vedanta.co.in Earnings Call Dial-In Details Earnings Call Dial-In Details The Company will hold an earnings conference call where senior management will discuss the Company’s results and performance. Earnings Call on Monday, Oct 19, 2026, at 16:00 hours (IST) Conference Dial-In Information: For further information, please contact: Maitreyee Sankhla Head Corporate Communications maitreyee.sankhla@vedanta.co.in Rahul Challa Deputy Manager - Investor Relations hzl.ir@vedanta.co.in 33 Express Join via internet registration Please dial the below number at least 5-10 minutes prior to the conference schedule. Express Join via internet registration Earnings Presentation 2QFY27
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THANKYOU hzl.ir@vedanta.co.in hzl.ir@vedanta.co.in