Equity Funding and Strategic Update

7,115 (1) MW Committed Portfolio, 1,804 MWs Operational Azure PowerⓇ ~90% (²) in High Irradiation Zone ~6%(2) in Mid Irradiation Zone Focus on Strong Counterparty Credit Rajasthan (3,675 MW) 475 MW 3,200 MW Gujarat (270 MW) 270 MW Andhra Pradesh (200 MW) 200 MW Maharashtra (7 MW) 7 MW Karnataka (250MW) 250 MW Irradiation Zones (3) (kWh/m2/day) High >5.5 Mid Between 5.5-4.5 Mid Low 4.5-3.5 To be decided (2,000 MW) 2,000 MW(1) Rooftop projects (167 MW) 146 MW 21 MW Operational Solar Capacity Punjab (214 MW) 214 MW Uttar Pradesh (100 MW) 100 MW Bihar (10 MW) BBB- & above 95% 10 MW Chhattisgarh (30 MW) 30 MW Telangana (100 MW) 100 MW Delhi (2 MW) 2 MW Assam (90 MW) 90 MW Under Construction & Committed Solar Capacity SECI 80% Others 5% Indian Railways & GoI Entities 1% NTPC 4% State Electricity Boards 15% ~95% of the portfolio is Investment Grade(4) 85% of the portfolio is with GoI (sovereign) backed entities (1) Includes 2,000 MWs for which we have not received an LOA yet (2) For ground mounted project (3) National Renewable Energy Laboratory (4) Considered Integrated Rating Report by Ministry of Power, GoI, wherever Credit Rating is not available

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