ACC Ltd

Forging a Resilient Future

Our cement business plays a crucial role in driving the growth and development of our nation's infrastructure.

- K A R A N A D A N I , C H A I R M A N

We are reaching greater milestones in ACC's transformative journey, elevating its legacy to new heights under the far-reaching and diversified Adani Group. As a vital pillar of the Group's infrastructural prowess, our cement business plays a crucial role in driving the growth and development of our nation's infrastructure. With sustained growth during the year under review, boosting operational and cost efficiencies, and a focus on an innovation-driven future, we remain committed to setting new benchmarks and maintaining our industry leadership.

Our strategic customer focus includes growing our green product offerings, enhancing value, and strengthening our dealer-distributor network through robust brand engagement initiatives. Over the past three years, we have made resilient progress across these priorities, which significantly contributes to the overall market leadership of the Adani Group, and, by extension, the nation's growth. We are excited to share the diligent efforts and noteworthy achievements of our strong, young team as we drive ACC's growth towards a dynamic and prosperous future.

India's economic growth has been remarkable. The nation reached its first trillion-dollar milestone 60 years after independence, with the subsequent trillions achieved in just seven and five years, respectively. This rapid progress underscores India's commitment to quality growth, driven by increased capital expenditure, robust domestic consumption, a burgeoning digital and gig economy, an expanding, younger and more skilled workforce, as well as substantial investments in infrastructure and manufacturing. The infrastructure sector, vital to realising India's economic ambitions by 2030, is projected to require investments of approximately USD 2.2 trillion. As a key enabler of infrastructure growth, the cement industry stands to benefit significantly from these investments.

As India advances towards its vision of ‘Viksit Bharat', we take immense pride in contributing to the nation's growth story. Our products reflect our commitment to progress, quality and sustainability. We crossed the 100 MTPA cement capacity milestone in April 2025, propelling us closer to our ambitious 140 MTPA target by FY 2027-28. As India's fastest-growing cement business, we are contributing to its growth by laying a strong, sustainable foundation for a brighter tomorrow.

The Adani Group's market leadership in various allied sectors is proving transformative for ACC, driving synergies across logistics, procurement, and market expansion. By leveraging the Group's extensive infrastructure, including ports, railways, and road networks, ACC has achieved significant cost efficiencies, streamlined operations, and enhanced delivery speed. Access to Adani Group's vast energy and

Cement Capacity Milestone crossed by the Adani Group's Cement Business in April 2025.

mining resources ensures a steady supply of raw materials at nominal costs, strengthening our competitive edge. Furthermore, we intend to maximise the value we create through synergies within the Adani ecosphere, MSA with the parent Ambuja Cements Limited and several strategic expansions of our business through addition of raw material reserves, greenfield and brownfield growth.

Moreover, we are embracing digitalisation and sustainability, integrating advanced technologies to enhance operational efficiency and pushing towards our ESG targets. We are firmly aligning ourselves with globally recognised frameworks to ensure our ESG disclosures and sustainability roadmaps not only meet but exceed international benchmarks. Our accelerated investments in renewables and waste heat recovery systems are optimising energy costs while reinforcing our commitment to responsible manufacturing. Additionally, securing strategic limestone and coal assets is ensuring long-term resource availability, supporting our ambitious growth plans. Through these collective efforts, we are well-positioned to drive sustainable growth, create long-term value for stakeholders and strengthen ACC's leadership position in the cement industry.

Innovation is at the heart of our operations, driving our commitment to expanding green product offerings while enhancing operational efficiency and responsibility. Our R&D team and infrastructure are dedicated to providing state-of-the-art testing facilities for our plants, developing solutions that elevate construction quality, optimise resource utilisation, and align with evolving green building standards, while reducing dependence on traditional raw materials. Digitalisation, AI, automation and robotics are no longer buzzwords of the future but the reality of our efficient present.

We are harnessing digitalisation across all business functions to drive sustainable growth and maximise stakeholder value. By integrating advanced technologies and modernising our processes, we continue to build a more resilient, future-ready organisation. Digital ecosystem initiatives have streamlined sales operations, while smart dashboards have enabled centralised, real-time project monitoring. Our firm commitment to cyber security ensures robust protection against emerging threats, and we continue to leverage AI, machine learning and advanced analytics to strengthen our business operations. As we move forward, we remain committed to delivering exceptional value, driving innovation, and contributing meaningfully to India's growth and progress.

We are committed to the highest ethical standards, fostering a culture of integrity, transparency and accountability across all levels of the Company. Our robust governance framework is driven by a strong and independent Board, Moreover, we are embracing digitalisation and sustainability, integrating advanced technologies to enhance operational efficiency and pushing towards our ESG targets. Our accelerated investments in renewables and waste heat recovery systems are optimising energy costs while reinforcing our commitment to responsible manufacturing. Additionally, securing strategic limestone and coal assets is ensuring long-term resource availability, supporting our ambitious growth plans. Through these collective efforts, we are well-positioned to drive sustainable growth, create long-term value for stakeholders, and strengthen ACC's leadership position in the cement industry. ensures compliance with laws, regulations, and corporate best practices. We prioritise transparent communication, providing timely accurate disclosures to stakeholders Further, our stakeholder engagement initiatives help us address concerns and build lasting trust. A comprehensive risk management framework and independent audits further reinforce our commitment to operational excellence and financial integrity.

ACC has become India's first large scale cement company with science-based net zero targets validated by the SBTi. We are continuously forging strategic partnerships to drive our green agenda. For us, safety leadership is a shared responsibility, and fostering a culture centred on well-being remains our top priority. Our dedication extends beyond operational excellence to creating meaningful social impact. We actively contribute to healthcare, education, skill development, and sustainable livelihood initiatives, empowering communities and driving positive change for a better future. Our sustainability principles are integrated into all aspects of our business and reflect our forward-thinking vision..

Optimistic Vision for the Future

As we move forward, we are confident that we are well-placed to capitalise on India's promising growth opportunities, supported by enduring relationships and a steadfast commitment to sustained growth. The cement sector is set for significant expansion, and our strategic priorities are designed to leverage this potential effectively.

. As part of a leading conglomerate with a presence in complementary businesses, we are in a greatly advantageous position to drive growth, deliver a strong performance, and in turn maximise long-term value. Our continued focus on excellence, innovation and customer satisfaction will guide us in contributing meaningfully to India's progress and building a resilient future for everyone.

Regards,