Azure Power Investor Presentation

Management Commitment to Capital Discipline Capital discipline is the foundation to our success 1 2 3 4 5 Azure Power Delivery of projects on time and on budget Enhance returns on invested capital with efficiency gains and cost optimisation Optimize capital structure to lower risk and cost of capital Risk mitigated approach to new projects that must meet threshold returns above cost of capital If returns on future growth do not meet thresholds, will explore giving back capital 4

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