Investor Presentaiton

Project Execution Expertise Driving Efficient Capital Allocation Project cost of select power plants set up by other players in the industry Power Project Capacity Project cost 1st COD JPVL (Nigrie) MW 1,320 INR Crore/MW $mn/MW² Year 7.92 1.11 2014 Giral (Rajasthan) 250 7.69 1.08 2011 DB Power (Janjgir-Champa) 1,200 7.02 0.98 2014 INR 6.63 Crore¹/MW Neyveli (Barsingsar) 250 7.00 0.98 2010 GMR EMCO (Warora) 600 6.25 0.88 2013 Adhunik (Padampur) 540 6.18 0.87 2013 Dhariwal (Chandrapur) 600 6.22 0.87 2014 Lanco (Amarkantak) 600 5.23 0.73 2009 Tata Power/DVC (Maithon) 1,050 5.24 0.73 2011 Aryan Coal (Kasaipalli) 270 5.00 0.70 2011 Lanco (Udupi) 1,200 4.67 0.65 2010 Vijayanagar Vijayanagar (2010): 600 MW @ INR 3.28 Crore/MW (2000-2001): (~$0.46mn/MW)² 260 MW @ INR 4.34 Crore/MW (~$0.61mn/MW)² Ratnagiri (2011-2012): 1,200 MW @ INR 4.60 Crore/MW (~$0.64mn/MW)² Barmer (2010-2013): 1,080 MW @ (~$0.93mn/MW)² JSW Energy (1) High capital cost due to CFBC boilers for lignite based power plant (2) USD/INR = 71.3 Source: RBI reference rate as of Feb 10, 2020

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