Investor Presentation

Azure Power Overview (AZRE: NYSE) Second Largest Solar Portfolio in India 7,115 MW (1) Utility-Scale Projects | 6,948 MWs Operational (2) 2,138 MWS AC (2,657 MWs DC) Under Construction (2) 977 MWS AC Azure Roof Power | 167MWS Awan |Punjab India's First Private MW scale Solar Plant Azure Power Committed(3) 4,000 MWS AC Gandhinagar | India First MW Scale Distributed Solar Rooftop Project Founded in 2008, built India's first private utility-scale solar project in 2009 Fully integrated business from development to EPC, financing & management Operational MW growth of 95% CAGR from March 2009 Total capital raised over US$2.5(2) billion since inception First Indian energy assets to list in NYSE, United States First Solar Green Bond out of India listed on SGX CDPQ, large AAA-rated Canadian pension fund, owns 50.3% 95% of the total portfolio is with investment grade counterparties (1) Based on portfolio size: Mercom, 2) As of Feb 10, 2021. There were 1,987 MWs AC operational and 1,128 MWs under construction as of Dec 31, 2020. 3) Committed includes 4,000 MWs for which a LOA has been received but PPA has not been signed. The PPA will follow only after the power is contracted with DISCOMs under a power sale agreement (PSA) and there is no assurance that we will be able to sign a PPA even though we have a letter of award. (3) Exchange rate INR 73.01 to US$1 (New York closing rate of Dec 31, 2020)

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