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.. Emerging Energy & Logistics Conglomerate ..

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3

Notes

1. AEL also has trading activities in power, metals and minerals

2. Reflects economic ownership adjusted for AELs 95% ownership in the real estate subsidiary Adani Infrastructure Developers

Pvt. Ltd.

3. CASF - Controlled Atmospheric Storage Facility

4. MDO - Mine Developer cum Operator

Energy Ports & Logistics Mundra Port & SEZ

(Publicly listed since Nov., 2007)(77.5% holding) (6) (proposed)

Hazira(100% SPV)

Dahej(74% SPV)

Murmugao(74% owned by MPSEZ;

26% owned by AEL)

Logistics(100%holding)

Ship Owning(70.25%holding)(7)

Oil & Gas(65 : 35 JV With Welspun of

Gujarat)

GasDistribution

(100% holding)Real Estate

ShantigramAhmedabad

(71% holding)(2)

BKCMumbai

(95% holding)(2)

KhatauMumbai(5)

(57% holding)(2)

CASF for Fruits &Vegetables (3)

(100% holding)

Grain Silos(100% holding)

Edible Oil & Agri Trading(50:50 JV with WilmarGroup of Singapore)

5. Khatau Makanji Spinning & Weaving Mills property was acquired through BIFR. The property is in Borivali & Byculla - Mumbai

6. The Board of Directors and shareholders of AEL have approved the proposal to merge the promoter entities of Mundra Port and Special

Economic Zone Ltd. with AEL and announced swap ratio on April 24, 2010 ; Application for proposed merger has been filed with HighCourt of Gujarat

7. Reflects AELs ownership through APL which has 70.25% holding in referred ship owning business

Coal Mining(As MDO(4) or Mine owner)

Integrated Coal Management

(AGFZE, Dubai & AGPTE, Singapore)

Power Generation(70.25% holding)

Publicly Listed since Aug 2009

Strong Diversified Portfolio - Way ForwardOne Adani

Bunkering(50:50 JV With Chemoil

Of Singapore)

Ports &Logistics

Energy

Key Strategic

Initiatives

1

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Increasing Focus on Asset-Based Businesses: AELs Strategic Transformation

Building on Trading and DomainExpertise to Develop Portfolio of

Infrastructure Assets

Oil & Gas City gas distribution: 8 Cities Oil & Gas exploration in India and abroad Bunkering

Real Estate Projects under planning in Ahmedabad & Mumbai: c.45 MM sq.

ft.

Agricultural Products 11 fully integrated refineries Controlled Atmospheric Storage Facility (CASF) for fruits and

vegetables Grain silos 550,000 MT capacity in 7 locations

Coal Mining: Coal Mining in Indonesia and India Arrangement to operate and develop coal mines in India

Asset Ownership

Metals & Minerals

Coal

Power

Oil & Petroleum Products

Agro Products

Ports & Logistics Developer and operator of the largest private sector multi-user

port in India Multi-product SEZTrading Business

Power Generation 660 MW operational 9,900 MW under development and implementation 2,640MW under planning Entered into contract for purchase of four newly-built vessels

Coal: Foundation for AELs Strategic Transformation

Creation of integrated player with a diversified portfolio of assets

Significant internal synergies to arise from integration of businesses

Way Forward

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Integrated Presence Across the Value Chain

Coal Mining

Development and operation ofParsa East and Kente Basancoal blocks at Chhattisgarh

Development and operation ofMachhakata coal block at Orissa

LoA for development, miningand transportation of coal fromParsa coal block at Chhattisgarh

Coal mining concessions inBunyu island, Indonesia

Presence across the entireenergy value chain offeringend-to-end solutions inintegrated coal management

Managed c. 28.8 MMT ofthermal coal in FY 2010

Ports andLogistics

Power Generation

and Transmission

Developer and operator of thelargest private sector multi-

user port in India

Developing terminals at Dahejand Hazira, Gujarat and a coalterminal at Mormugao, Goa

Synergy between ports, SEZand logistics, complementing

business

Industrial and growinghinterlands of North, West andCentral India, the key tradingregions

Currently developing powerprojects of 9,900 MW across

India

660 MW already under operation

2,640MW under planning

Operational and planned powertransmission network of 1,619

kms.

Integrated CoalManagement

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Coal Mining & Integrated Coal Management

Ports & Logistics

Power Generation

Key Strategic Initiatives

6

Strong Business Fundamentals

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Highest Demand for Coal Comes from the Power Sector

Well-Positioned to Leverage India Growth Story: Demand for Coal Expected to Increase

Historical Demand-Supply of Coal in IndiaImports Expected to Increase to Bridge

Demand-Supply Gap

549

604

50 5970

507 534

489454

0

150

300

450

600

FY 2008 FY 2009 FY 2010BE

Demand Production Import

521

664

15

15

364

18

104

331

38

41

45

14

51

28

70

0

400

800

1,200

X Plan (FY 2007) XI Plan (FY 2012)E XII Plan (FY 2017)E

CIL Captive Mining SCCL Others Import/Def icit

Source Ministry of Coal Source Ministry of Coal

Coal Demand in FY2017 forecasted at 1,125MMT: Driven by 835MMT from Power, 105MMT from Steel, 50MMT fromCement, 135MMT from other sectors

MMT MMT

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Coal: Integrated Business Model Key Growth Driver; AEL Managed c. 28.8 MMT of Thermal Coal in FY 2010

Integrated Coal Management (ICM) End-to-End Solutions

Australia

South Africa

Map not to scale

Multi-CountryProcurement

Arrangement to secure guaranteesand Letter of Commitments to

support trading business

Multi modallogistics

Indonesia

Coal Supplied

Coal Imported

Financing

Coal imported and suppliedin the same States

Coal Supplied

Coal Imported

Coal Supplied

Coal Imported

Focus on Pricing

Reimbursable charges

FOB (index)

Freight (index)

Mark-up

Handling charges

AELs Growing Coal Imports (1)

18.7

10.28.17.7

0

5

10

15

20

FY 2006 FY 2007 FY 2008 FY 2009

Total Non Coking

Coal Imports inIndia (MMT)

MMT

21.7 25.2 27.8 35.0

(1) Source: Based on total imports data as per Ministry of Coal and FY09 from Infraline

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Mine Developer Cum Operator: A Utility Business with Stable Cash Flows

Coal mine ownedby the State

Electricity Board(SEB)

MDO

Awards mining contracts based oncompetitive bidding

Agrees to supply coal at SEB power plants at minimum ofbid price or discount to Coal India Ltd. (CIL) price.

Provide end-to-end solutions like coal washing, betterlogistics, land acquisition etc.

Typical MDO Agreement MDO Process Stages

Develop,Plan, Operate

& ManageMining

Operation

Establishmentof Washery

LogisticSolution

EnvironmentClearance

R&R

LandAcquisition

Mining PlanApproval

Investment inMachineries

Mining activitythroughdeployinglatesttechnology

Ensuring thegrade andspecs of coal

to be delivered

Laying railwaysiding from pithead to nearby

connectingcentrepoint

Delivery atthermal powerstation

LandAcquisition

Approvalsand LandAcquisition

MiningOperation

Washery RailwaySiding

AEL has been awarded three MDOs in India namely, Parsa Kente, Machhakata, and Parsa blocks

These pictures are for illustrative purpose only

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Notes:

1 Adani Mining Private Ltd. which is a wholly owned subsidiary of AEL has executed Coal Mining Services Agreement (CMSA) with Para Kente Collieries Ltd.,which is a 74:26 JV between AEL and RRVUNL

2 Executed CMSA for Machhakatta Mine Block with Mahaguj Collieries Ltd. (MGCL)3 Letter of Award (LoA) for Parsa coal block from Chhatisgarh State Power Generation Co. Ltd. (CSPGCL)

4 MGCL Mahaguj Collieries Ltd..

5 RRVUNL Rajasthan Rajya Vidyut Utpadan Nigam Limited

6 CSPGCL Chhattisgarh State Power Generation Company Limited

Parsa - Kente1 Machhakata2 Parsa3

LocationChhattisgarh,

India

Orissa,

India

Chhattisgarh,

India

Beneficiary RRVUNL(5) MGCL(4) CSPGCL(6)

Block Area

(Sq Km)27.67 20.43 12.52

Mineable Reserve

(MM MT)452 1,244 150

Average Grade F Grade F Grade F Grade

Capacity p.a. at peaklevel (MM MT) 15 50 5

Overall Stripping Ratio 5.16 2.44 NA

Expected Commencementof Production June 2011 FY 2013 FY 2013

Coal Mining Operations 70 MM MT p.a. Mining

Machhakata

Parsa - Kente

Locations of IndianCoal Mining Operations

Parsa

10

MDO: Mining, Development and Operations in India

Base Revenues from the mines per MT

Parsa - Kente Year I INR 958.5

Machhakata Coal Block Year I INR 543, II INR 1,161,

III INR 1,262, IV INR 1,29