JSW Steel Corporate Presentation

. • Healthy Outlook on Strong Domestic Steel Demand Resilient operating and financial performance Expect strong steel demand in H2 FY24 JSW Steel Strong outlook for India Sales volume up 18% YoY in H1 FY24 on higher capacities and robust domestic demand Healthy share of VASP in H1, at 61% of sales India EBITDA/t for Q1 benefited from spill over export orders at higher realisations while lower raw material prices and better product mix aided Q2 performance Overseas entities reported strong EBITDA in Q1 but were muted in Q2 due to market conditions • Domestic steel price hikes of Aug- Oct to flow through in Q3, while coking coal and iron ore costs will be higher India steel demand in FY24 expected to grow at healthy double digit rate JSW Steel targets 10% sales volume growth to 25mt in FY24 through expanded capacities • • . • Govt.'s infrastructure drive, manufacturing, energy transition and consumption spurring domestic steel demand Green shoots visible in rural economy High capacity utilization and deleveraged balance sheets provide scope for private sector capex Strong interest by global investors and corporates to participate in the long-term India growth story H1 FY24 JSW Steel Corporate Presentation: October 2023 H2 & FY24 Medium Term Outlook 12

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