Investor Presentaiton

CO 6 Proven track record of growth through organic and inorganic expansions (continued) Case study: Turnaround strategy at JSW Ispat's Dolvi plant 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(a), 1 MTPA coke oven (a), waste gas based 55MW power plant, railway siding, and lime calcination plant • FY2016 2017 FY2018-2020 Capacity expanded to 5 MTPA Diversified product offering from Flat steel only to mix of Flat and Long steel Capacity expected to be increased to 10MTPA from current 5MTPA Major facilities being setup include: 4.5 MTPA Blast furnace with 5 MTPA Steel Melt Shop . 5 MTPA Hot Strip Mill Inability to service existing debt Inadequate cashflows Corporate debt restructuring (CDR) case Exit from CDR Stabilized/ramped-up the expanded Generating positive profit after tax capacity Further expansion and operational improvements underway Able to leverage an acquisition to maximum value accretion through application of knowledge and experience (a) Implemented in a wholly owned subsidiary Amba River Coke Limited JSW Steel 17

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