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© 2023 General Electric Company – All rights reserved. Internal Use Only. ANALYST PRESENTATION GE VERNOVA T&D INDIA LTD. Q2 FY 2026 - 27 © 2026 GE Vernova and/or its affiliates. All rights reserved.
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DISCLAIMER This presentation has been prepared solely for the use at analyst/ investor presentation . By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations - The forward - looking information and statements can generally be identified by the fact that they do not relate only to historical or current facts . Forward - looking statements sometimes use terminology such as “targets”, “believes”, “expects”, “aims”, “assumes”, “intends”, “plans”, “seeks”, “will”, “may”, “anticipates”, “would”, “could”, “continues”, “estimate”, “milestone” or other words of similar meaning and similar expressions or the negatives thereof . GE Vernova T&D India Limited cannot give assurance to the correctness of such information and statements . By their nature, forward - looking information and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements that may be expressed or implied by the forward - looking information and statements in this presentation . Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company's actual financial condition or results of operations could differ materially from that or those described herein as anticipated, believed, estimated or expected Given the aforementioned uncertainties, prospective or present investors are cautioned not to place undue reliance on any of these forward - looking statements No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investments decision whatsoever . Investor/prospective advisors must be sought on specific situation from well - informed legal, investment, tax, financial, and management professionals This presentation and its contents are confidential and must not be distributed, published or reproduced . This presentation does not constitute a recommendation regarding the securities of the Company . 2 © 2026 GE Vernova and/or its affiliates. All rights reserved.
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3 EXECUTIVE SUMMARY Q2 FY 26 - 27 209.3 214.4 Jun'26 Sep'26 ( ₹ in billions) Order Backlog 16.1 24.4 Q2'26 Q2'27 15.4 20.3 Q2'26 Q2'27 +32% 4.0 5.8 Q2'26 Q2'27 1.4 x Order Intake Revenue Profit before tax H1 FY 26 - 27 214.6 214.4 Mar'26 Sep'26 Order Backlog 32.3 35.8 H1'26 H1'27 Order Intake 28.7 38.6 H1'26 H1'27 +35% 7.9 10.7 H1'26 H1'27 1.3 x Revenue Profit before tax Cash generation of 10.1 * BINR during H1 leading to available cash equivalents of 32.5** BINR 26.1% 28.6% 27.6 % 27.6% *Cash Generation before dividend Payment ( 2,560 MINR) **Includes lending to LM Wind Power Blades (India) Private Limited as a part of Cash Pool arrangement © 2026 GE Vernova and/or its affiliates. All rights reserved. POWERING THE FUTURE THROUGH DISCIPLINED EXECUTION AND SUSTAINED GROWTH + 52 % +11%
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4 Key Executions Q2 FY 26 - 27 4 Grid System Intergration Power Transformers Switchgear – GIS & AIS GETCO - Babarzar Commissioned 400 kV GIS, 220 kV AIS bays along with 500 MVA ICTs at Babarzar in Gujarat Nepal Electricity Authority - Barhabise Commissioned 400 kV GIS bays at Barhabise Site in Nepal PGCIL - Bidar Commissioned 80 MVAr 765 kV 1 ph Shunt Reactors Sterlite/ Resonia - Beawar Commissioned 110 MVAr 765 kV 1 ph Shunt Reactors NUPPL - Ghatampur Commissioned 275 MVA 765 kV 1 ph Generator Transformers Zetwerk Narela Commissioned 66kV GIS Bays Spain Martorell Commissioned 220kV GIS Bays Senegal - MCA - Bel Air Commissioned 220kV GIS Bays Other Commissioning Commissioned 765 kV CB for BHEL PG Bikaner II and Bikaner III © 2026 GE Vernova and/or its affiliates. All rights reserved.
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16,199 11,370 16,060 24,381 H1 FY 25-26 H1 FY 26-27 Q2 Q1 5 • Supply of 400 kV Generator Transformers and 420 kV GIS package for a major 1,500 MW pumped storage hydro project in the state of Maharashtra • Supply of 800 kV and 420 kV GIS packages for a transmission project in the state of Andhra Pradesh. • Supply of 400 kV Reactors and 420/220 kV GIS package for a TBCB transmission project in the state of Himachal Pradesh • Supply of 765 kV shunt reactors (110 MVAR & 80 MVAR) for a TBCB transmission project in state of Andhra Pradesh • Multiple orders for export of AIS/GIS equipment to North America, Europe, Middle East and Africa. • Multiple orders for supply of Grid Automation packages from state utilities, EPCs for transmission and data center projects. KEY ORDERS BOOKED DURING Q2 FY 26 - 27 (₹ in millions) © 2026 GE Vernova and/or its affiliates. All rights reserved. Order Intake Q2 & H1 FY 26 - 27 +11% +52% 32,259 35,751
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6 (₹ in millions) © 2026 GE Vernova and/or its affiliates. All rights reserved. Financial Performance Q2 & H1 FY 26 - 27 Q2 FY 26 - 27 % % % Q1 FY 26 - 27 Q2 FY 25 - 26 Revenue 20,270 100.0 18,361 100.0 15,385 100.0 38,631 100.0 28,686 100.0 Less : Cost of Goods Sold 11,245 55.5 10,770 58.7 8,675 56.4 22,015 57.0 15,535 54.2 Gross Profit 9,025 44.5 7,591 41.3 6,709 43.6 16,616 43.0 13,151 45.8 Less : Employee Cost 1,380 6.8 1,123 6.1 1,186 7.7 2,503 6.5 2,158 7.5 Less : Other Expenses 2,148 10.6 1,860 10.1 1,559 10.1 4,008 10.4 3,152 11.0 EBITDA 5,497 27.1 4,608 25.1 3,965 25.8 10,105 26.2 7,841 27.3 Less : Finance Cost 78 0.4 34 0.2 22 0.1 113 0.3 50 0.2 Less : Depreciation 122 0.6 121 0.7 116 0.8 243 0.6 228 0.8 Add : Other Income 503 2.5 418 2.3 186 1.2 922 2.4 349 1.2 Profit before Tax 5,800 28.6 4,871 26.5 4,013 26.1 10,671 27.6 7,913 27.6 Taxes 1,486 7.3% 1,241 6.8% 1,018 6.6% 2,728 7.1% 2,006 7.0% Profit after Tax 4,314 21.3% 3,630 19.8% 2,995 19.5% 7,944 20.6% 5,907 20.6% % H1 FY 26 - 27 % H1 FY 25 - 26
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7 © 2026 GE Vernova and/or its affiliates. All rights reserved. Order, Revenue and Backlog details (₹ in millions) 168,200 , 78% 42,605 , 20% 3,627 , 2% Private Central Utilities & PSU State Utilities 19,272, 79% 5,109, 21% Domestic Exports 13,832, 68% 6,438, 32% Domestic Exports Orders Backlo g : 214,432 Q2’27 Order Intake : 24,381 Q2’27 Revenue : 20,270 25,437, 71% 10,314, 29% Domestic Exports 26,764, 69% 11,867, 31% Domestic Exports H1’27 Revenue : 38,631 H1’27 Order Intake : 35,751
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8 © 2026 GE Vernova and/or its affiliates. All rights reserved. Major Related Party Approvals Related Party Transaction Amount MINR Validity Period Status Grid Solutions Middle East FZE Sale of goods/material, including project related and other services 9,000 One year from the date of passing (AGM 2025 to AGM 2026) Major anticipated order on hold at customer end Grid Solutions SAS Sale of goods/material, including project related and other services 22,000 One year from the date of passing (AGM 2025 to AGM 2026) Major anticipated order on hold at customer end Approvals Lapsed Related Party Transaction Amount M$ Validity Period Status GE Grid Solutions LLC Sale and purchase of goods and/or availing and rendering of services, including project related services 151 16th May, 2026 to 15th May, 2027 Order under negotiation Approvals Active
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THE ENERGY TO CHANGE THE WORLD © 2026 GE Vernova and/or its affiliates. All rights reserved. 9 Contact us: InvestorsRelations.GEVTDIL@gevernova.com https://www.gevernova.com/regions/asia/in/gevernova - td - india