Investor Presentaiton

Healthy Financial Profile Revenue INR mn Cash & Bank INR mn 7000 3500 6,229 6,137 6000 3000 4,967 5000 4,465 2500 4000 2000 1,586 3000 1500 2000 1000 1000 500 0 0 Total Debt* RGIII RGII ■FY22 ■FY23 INR mn 31000 30,373 29,954 30000 29000 28000 27000 26000 25000 24000 RGIII ■FY22 ■FY23 26,291 RGII FY22 EBITDA INR mn 7,000 5,872 6,000 28,490 5,000 4,000 3,000 2,000 1,000 * Increase in FY23 is due to conversion of foreign currency debt at forex rate as on March 31, 2023. All foreign currency debt are hedged. | Includes Current & Non Current Borrowings of the RG Bonds 8 | Copyright © 2023 Azure Power | www.azurepower.com 2,668 2,380 RGIII RGII ■FY22 ■FY23 3,248 RG III RG II 4,131 Average Tariff (INR) 6.16 3.22 PLF (AC) FY 2023 18.9% 23.9% Average Remaining PPA Tenure (Yrs.) 17.1 19.6 FY22 ■RGIII RGII Note: FY23 - Management Unaudited Numbers ; FY22 - RGIN and RGII audited numbers. Azure Power

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