Investor Presentaiton

606 -6 -12 -18 -24 -30 -4.9% 5.4% World AMES US -8.0% 4.8% Eurozone CY 20 Global economy GDP growth Forecasts (% YoY) CY21 -8.0% 4.5% -10.2% 6.0% -5.8% 2.4% Index of Industrial Production (%YoY) Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 5.9% 4.5% US Euro Japan EMDES Area India China Jun-19 Sep-19 China Dec-19 Mar-20 Jun-20 Japan 6.0% 1.0% 8.2% JSW ■ IMF revises CY20 Global GDP to contract by 4.9%, with downside risks, amidst higher-than-usual degree of uncertainty Global growth expected to rebound and increase by 5.4% in CY21 on the back of swift policy measures Recent PMI and IP prints of the US, EU and Japan reflect improving business and consumer sentiments from the recent slump, which bodes well for a gradual economic recovery In China, Q2 GDP of 3.2% reflects economic growth is gaining momentum. Recovery in investment and services during recent months has been stronger than anticipated ■ Synchronised monetary and fiscal policy measures have limited the impact of economic fall out in the near term, accommodative monetary stance likely to aid economic recovery Possible re-emergence of infections inducing localised lockdowns pose risks to the outlook JSW Steel Targeted and synchronised policy measures to aid gradual global recovery Source: IMF (June 2020),Eurostat, METI Japan, Federal Reserve, NBS China

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