Investor Presentaiton

Significant Market Opportunity: Power Demand Growth to be met by RE SW Energy Historical Power Demand Growth Similar growth expected in power demand over next decade FY02 (Actual) ■FY23 (Actual) 1,511 Sept-23 Peak demand was 243 GW IFY 23 ■FY30 estimated 216 2,280 +769 BU 1,511 5% CAGR 5% CAGR 523 Base Demand (in BU) 78 Peak Demand (in GW) Base Demand (BUS) 335 +119 GW 216 Peak Power Demand (in GW) Demand to be met incrementally with Renewable Energy Rapid Urbanization and universal electrification to drive power demand 67 FY23 ■FY30 293 125 100 43 466 Solar Wind JSW Energy Corporate Presentation - Jan 24 Total Renewable This 341 GW increase translates to ~775 BU, which is inline with base demand growth India is world's third largest power producer, however has a low per capita consumption (~1/3rd of world average), this provides huge opportunity for growth Sustained economic growth has driven power demand in India, going forward, unlocking of demand from increased rural electrification and rapid urbanization to drive demand for power Source: Central Electricity Authority, Optimal Generation Mix 2030 - April 2023 24

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