JSW Steel Corporate Presentation

1 Strong Fundamentals for India Steel Demand SW Steel India Steel: Strong Fundamentals (mt) Crude Steel Crude Steel Finished Steel Significant room for Healthy Steel Demand Outlook in India growth in steel consumption in India O China, 667 Government Capex (INR tn)² Production-Linked Incentive Scheme¹ Capacity 160 Production 126 120 Demand 300 FY23 FY31E Finished steel consumption (kg per capita, 2021) O Japan, 456 • US, 291 World, 233 • 7.3 5.9 4.3 3.1 3.4 i 10.0 Govt. incentive > *2 tn 717 Applications approved Across 14 Sectors Estimated Capex *3 tn FY19A FY20A FY21A FY22A FY23RE FY24BE Govt. thrust on infra, housing and increasing share of mfg. in GDP Productive investments like PLI scheme and defence indigenisation to drive capex • Robust demand from auto, residential real estate and energy transition India, 76 • India to remain competitive exporter of steel and steel products JSW has industry-leading volume growth accompanied by strong value added product basket to meet rising domestic demand JSW is best placed Indian steel producer to benefit from strong domestic demand growth JSW Steel Corporate Presentation: May 2023 Source: Ministry of Steel, World Steel Association (WSA), JSW estimate 16 1: Economic Survey 2022-23; 2: A- Actual, RE-Revised Estimate, BE- Budgeted Estimate

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