Investor Presentaiton

JAYPEE GROUP Thermal Hydro Mix & Merchant Power Capacity Thermal Hydro Mix of Power Capacity Sales Mix of 1000 MW Karcham Wangtoo HEP UI 1% Rs 2.93/unit GOHP 12% 41% 31% 38% 42% 77% 100% Power Exchange 25% 59% 69% Rs 3.76/unit 62% 58% 23% (as of 31st Jan, 2012) CY11 CY12 CY13 CY14 CY17 CY20 ■Hydro Thermal Largest Private Sector Hydro Power generator in the country Merchant vs. PPA Bilateral 62% Rs 3.83/unit YTD per unit realization averages Rs 3.79 41% 48% 55% 54% 63% 65% Merchant Power Units (MU) 52% FY 2012 2,260 45% 46% 37% 35% FY 2013 4,740 CY11 CY12 CY13 CY14 CY17 CY20 FY 2014 8,512 IPPA Merchant FY 2015 11,650 Optimal off-take arrangements to ensure balance between steady locked-in cash flows (PPA) and upside from merchant tariffs. 18

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