Nayara Energy (Formerly Essar Oil) Limited Unlisted Shares

1. B Anand, Chief Executive Officer a) Experience in corporate finance, strategy, investment banking, and commodity trading. b) Previously was the CFO of Trafigura India Private Limited; prior to Trafigura, was Group Director of Finance for Future Group and held senior positions with Vedanta Resources Group. 2. C Manoharan ,Director & Head of Refinery a) Handled variety of assignments in key positions in Refining Operations, maintenance and Technical Services at Gujarat Refinery, Panipat Refinery as well as Head Office (Refinery Division). b) Prior to Nayara Energy, he was Executive Director with IOCL at the Panipat Refinery. 3. Anup Vikal, Chief Financial Officer a) Rich experience in the Banking and Finance industry. b) Prior to Nayara Energy, he was the CFO of Snapdeal and has held senior positions with Aircel, Interglobe Aviation, COLT Telecom & Bharti Airtel.

The Company has three biggest shareholders Namely Rosneft, Trafigura, and UCP Investment Group. Let us see their stakes percentage and brief about them. 1. Rosneft (49.13% Stake) a) World’s largest publicly traded petroleum company - 6% of world oil production and a market capitalization of US$69.6bn b) Ownership structure- : Russian Government - ~50%, BP - 19.75%, QH Oil Investments – 18.93%, Public / others – ~11.32% c)  FY2017 Key figures (as at 31 December 2017) : Revenue - US$104.3bn, Total Assets - US$212 Bn 2. Trafigura (24.07% Stake) a) One of the leading commodity traders in the world and the largest independent LNG trader. b) Two main lines of business: physical trading and industrial assets portfolio. c) FY2017 Key figures (as at 30 September 2017): Revenue - US$136.4bn, Total Assets - US$48.6bn 3. UCP Investment Group (24.07%) a) Independent, private investment group established in 2006. b) Focused on investing in high-growth private companies or mature enterprises with a proven business model and stable cash-flow. c) Total assets under management exceed US$3bn.

(Figures in Crores) *The higher PAT showed in FY19-20 as compared to FY18-19 is due to the addition of deferred tax. FY19-20 Business Performance Retail Business 1. The Retail segment yet again delivered a stupendous performance in FY 2020. The year over year volume growth was 18% against the industry’s year over year volume growth of 1%. 2. This year they have added 574 new petrol pumps. With 574 new outlets added last fiscal year, Nayara Energy stood at 5,702 fuel stations at the end of FY 2020 with a pan-India presence. Supply and Distribution 1. The Company continues to focus on improving domestic supply infrastructure and hired a coastal terminal at Mangalore and Ennore for ensuring supply at Karnataka and Tamil Nadu. 2. It also commenced supplies from Bina and Kanpur hospitality locations to improve local product availability in Madhya Pradesh and Uttar Pradesh respectively. 3. Commissioned in 2019, the Company’s rail-fed Wardha depot uniquely caters to Nayara Energy’s retail outlets as well as product requirements from other oil companies in and around the Vidarbha region of Maharashtra. The Company finalized another rail-fed smart automated depot in Pali, which is expected to be completed by 2021. 4. Nayara Energy did the complete conversion of its own locations to BSVI grades in January 2020, ahead of the mandatory guidelines. Institutional Business 1. Right channeling in priority markets resulted in increased sales for Petcoke. The Company also augmented new geographies of Orissa and Nepal for the Petcoke supply. 2. The Company recorded the highest-ever Sulphur sales in a year since the inception of the refinery and re-entered the Bitumen business after moving out last year. FY19-20 Financial Performance 1. Revenue from operations was at ₹ 1,00,641 Crores for the financial year ended March 31, 2020, as compared to ₹1,00,313 Crores for the financial year ended March 31, 2019. 2. Current Price Gross Refinery Margin (CP GRM) was lower at USD 5.88/bbl in FY 2019-20 as against USD 6.97/bbl in FY 2018-19. 3. Total Debt has been reduced from 17566 Crores in FY19 to 10757 Crores. 4. D/E Stands at 0.55x. 5. Trade receivables have also come down from 3689 Crores to 1270 Crores. This has helped Nayara Energy to clocked 12612 Crores of Cash-flow from operations. Nayara Energy Annual Report 2019-20 Nayara Energy Annual Report 2018-19 Nayara Energy Annual Report 2017-18 Nayara Energy Annual Report 2016-17