JSW Steel Corporate Presentation

Case study: Turnaround Strategy at JSW Ispat's Dolvi plant SW Steel JSW Steel has a proven track record of identifying, acquiring and integrating assets creating synergies and optimizing costs December 2010 ⚫ Plant under maintenance ⚫ Loss making at EBITDA level High interest cost Financially distressed Completed initiatives - FY2011-2015 • Infusion of equity • Alignment of marketing strategies resulting in freight synergies and VAT benefits Reduction of high cost working capital funding ⚫ Refinancing of existing debt ⚫ Electricity sourcing from JSW Energy at competitive prices Commissioning of 4 mtpa pellet plant, 1 mtpa coke oven, waste gas based 55MW power plant, railway siding, and lime calcination plant FY2016-2017 Capacity expanded to 5 mtpa ⚫ Diversified product offering from Flat steel only to mix of Flat and Long steel FY2018-2022 • Capacity increased to 10 mtpa from 5 mtpa • Major facilities setup include: ○ 4.5 mtpa Blast furnace with 5 mtpa Steel Melt Shop о 5 mtpa Hot Strip Mill Inability to service existing debt I - Inadequate cashflows - Corporate debt restructuring (CDR) Exit from CDR Stabilized/ramped-up the expanded Generating positive profit after tax capacity I - Integrated Steel production commenced I Able to leverage an acquisition to maximum value accretion through application of knowledge and experience JSW Steel Corporate Presentation: May 2023 case 49 49

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