Investor Presentaiton

Items to Note in Q3FY20 I. JPVL Loan Restructuring: Pursuant to restructuring of JPVL loan, the Company has written off ~INR 570 Crore of JPVL loan which has been adjusted against reversal of existing provision of ~INR 454 Crore and write-back of ~INR 177 Crore of JPVL contingent consideration payables in the Company's books, resulting in a net gain of ~INR 61 Crore in Q3FY20. This has also resulted in reversal of current tax of ~INR 39 Crore provided in H1FY20. 752 INR Crore 280 120 352 62* JPVL Debt Outstanding Amount Written-off Continuing Loan Loan converted into JPVL Equity II. South African Operations: The Company has made a provision of ~INR 38 Crore in the Standalone financials towards impairment of its investments in South African operations. This has no impact on the Consolidated financials as accumulated losses corresponding to the impairment amount have already been provided for in earlier periods. III. Corporate Tax: Pursuant to changes in the Corporate Tax Regime, the Company has made an assessment of the impact and decided to continue with the existing tax regime for the Company and its key subsidiaries. Further, the Company has re-evaluated the existing deferred tax liability in its books, and based on the assumption that the Company would migrate to the new tax regime at a future date, decided to write back ~INR 165 Crore to the P&L account. JSW Energy *Fair value as on conversion date (INR 78 Crore as on February 1, 2020) 19

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