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<!--ANNAgreement V1.0 (10-04-2026)-->
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2024-04-30/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Announcement_For_Agreements/2024-04-30/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Announcement_For_Agreements/2024-04-30/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-type="https://www.sebi.gov.in/xbrl/2024-04-30/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2024-04-30.xsd"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500188</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-08-26</xbrli:startDate><xbrli:endDate>2026-08-26</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500188</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-26</xbrli:instant></xbrli:period></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NameOfTheCompany contextRef="MainI">HINDUSTAN ZINC LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="MainI">HINDZINC</in-capmkt:NSESymbol><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeOfAgreement contextRef="MainI">Others</in-capmkt:TypeOfAgreement><in-capmkt:DetailsOfOtherTypeOfAnnouncement contextRef="MainI">Agreement under Clause 5A, Para A, Part A, Schedule III of the SEBI LODR</in-capmkt:DetailsOfOtherTypeOfAnnouncement><in-capmkt:StageOfAgreement contextRef="MainI">Revision, Rescission, Amendment or Alteration of agreement</in-capmkt:StageOfAgreement><in-capmkt:AgreementsEnteredIntoBy contextRef="MainD">Related Parties of the listed entity</in-capmkt:AgreementsEnteredIntoBy><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="MainD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="MainI">2026-08-24</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="MainD">22:22:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:RemarksForWebsiteDissemination contextRef="MainI">The dates pertaining to the disclosure of the execution of the agreement to the Stock Exchange are April 21, 2025, June 26, 2025, February 2, 2026, and May 15, 2026. However, since the system permits the entry of only a single date, April 21, 2025, being the date of the initial disclosure, has been mentioned under “Date of Initial Disclosure of the Execution of the Agreement to the Stock Exchange."</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-08-26</in-capmkt:DateOfReport><in-capmkt:DateOfInitialDisclosureOfTheExecutionOfTheAgreementToTheStockExchangeForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainI">2025-04-21</in-capmkt:DateOfInitialDisclosureOfTheExecutionOfTheAgreementToTheStockExchangeForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:BriefDetailsOfRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">Pursuant to the terms of the respective Facilities Agreement, the respective borrowers and the guarantors (as member of the promoter group of Vedanta Limited, which is the promoter of Hindustan Zinc Limited) agreed to ensure that Hindustan Zinc Limited shall not undertake certain actions / activities unless permitted within the parameters of the Facilities Agreements, as disclosed to the stock exchanges under the Earlier Disclosures.
This disclosure pertains to rescission of the Facilities Agreements pursuant to repayment of the facilities and all the other liabilities under the respective Facilities Agreements. Accordingly, all restrictions on Hindustan Zinc Limited as disclosed under the Earlier Disclosures stand released.</in-capmkt:BriefDetailsOfRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:NumberOfPartiesRelatingToAgreementAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainI" unitRef="pure" decimals="0">42</in-capmkt:NumberOfPartiesRelatingToAgreementAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:NamesOfPartiesWithWhomTheAgreementIsEnteredAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">Please refer to the pdf disclosure made on 25.08.2026</in-capmkt:NamesOfPartiesWithWhomTheAgreementIsEnteredAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:NatureOfTheAgreementForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">Not applicable.
Pursuant to the terms of the respective Facilities Agreement, the respective borrowers and the guarantors (as member of the promoter group of Vedanta Limited, which is the promoter of Hindustan Zinc Limited) agreed to ensure that Hindustan Zinc Limited shall not undertake certain actions / activities unless permitted within the parameters of the Facilities Agreements, as disclosed to the stock exchanges under the earlier disclosures dated April 21, 2025, June 26, 2025, February 02, 2026 and May 15, 2026 (collectively, the “Earlier Disclosures”).
This disclosure pertains to rescission of the Facilities Agreements pursuant to repayment of the facilities and all the other liabilities under the respective Facilities Agreements. Accordingly, all restrictions on Hindustan Zinc Limited as disclosed under the Earlier Disclosures stand released.</in-capmkt:NatureOfTheAgreementForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:DateOfExecutionOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainI">2026-08-21</in-capmkt:DateOfExecutionOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:ReasonOfRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">Pursuant to the terms of the respective Facilities Agreement, the respective borrowers and the guarantors (as member of the promoter group of Vedanta Limited, which is the promoter of Hindustan Zinc Limited) agreed to ensure that Hindustan Zinc Limited shall not undertake certain actions / activities unless permitted within the parameters of the Facilities Agreements, as disclosed to the stock exchanges under the Earlier Disclosures.
This disclosure pertains to rescission of the Facilities Agreements pursuant to repayment of the facilities and all the other liabilities under the respective Facilities Agreements. Accordingly, all restrictions on Hindustan Zinc Limited as disclosed under the Earlier Disclosures stand released.</in-capmkt:ReasonOfRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:DetailsOfImpactOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">Pursuant to the terms of the respective Facilities Agreement, the respective borrowers and the guarantors (as member of the promoter group of Vedanta Limited, which is the promoter of Hindustan Zinc Limited) agreed to ensure that Hindustan Zinc Limited shall not undertake certain actions / activities unless permitted within the parameters of the Facilities Agreements, as disclosed to the stock exchanges under the Earlier Disclosures.
This disclosure pertains to rescission of the Facilities Agreements pursuant to repayment of the facilities and all the other liabilities under the respective Facilities Agreements. Accordingly, all restrictions on Hindustan Zinc Limited as disclosed under the Earlier Disclosures stand released.</in-capmkt:DetailsOfImpactOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement></xbrli:xbrl>
