Investor Presentaiton

Healthy Outlook on Strong Domestic Steel Demand Resilient operating and financial performance Falling RM prices to offset impact of steel price decline SW Steel Strong outlook for India • . • Sales volume up 27% YoY on higher capacities and robust domestic demand Healthy share of value added and special products, at 61% of sales India EBITDA/t benefited from export orders of prior quarter at higher realisations Overseas entities reported strong performance on improved volumes Falling iron ore and coking coal costs to offset the impact of lower steel prices in Q2 FY24 • India steel demand expected to grow at healthy 7-9% (8-10mt) in FY24 . JSW Steel targets 10% sales volume growth to 25mt in FY24 through expanded capacities • • . Govt.'s infrastructure drive is positive for steel sector Improved manufacturing and services spurring domestic consumption High capacity utilization and deleveraged balance sheets of Corporates and Banks provide scope for private sector capex • Positive investment outlook for India and expected recovery in rural economy to further accelerate investments and consumption Q1 FY24 JSW Steel Corporate Presentation: August 2023 Q2 & FY24 Medium Term Outlook 12

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