Investor Presentaiton

Disclaimer Important Notice This presentation and the accompanying slides (the "presentation") contains selected information about the activities of JSW Hydro Energy Limited (the "Company") and its subsidiaries and affiliates (together, the "Group") as at the date of the presentation. It does not purport to present a comprehensive overview of the Group or contain all the information necessary to evaluate an investment in the Company. This presentation should be read in conjunction with the Company's other periodic and continuous disclosure announcements, which are available at www.jsw.in. No Offering This presentation is for information purposes only and is not a prospectus, disclosure document or other offering document under any law, nor does it form part of any present or future invitation, recommendation or offer to purchase or sell securities of the Group in any jurisdiction. No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with any contract or commitment or investment decision whatsoever. If there is any subsequent offering of any security of the Company, it will be made pursuant to separate and distinct offering documentation, and in such case the information in this presentation will be superseded in its entirety by any such offering documentation in final form. In addition, as this presentation only contains general, summary and selected information about the Group, it may omit material information about the Group and is not a complete description of the Group's business and the risks relating to it. Therefore, this presentation should not form the basis of any investment decision to purchase or sell the Group's securities. Any decision to purchase securities in the context of an offering of securities (if any) should be made solely on the basis of information contained in the offering documentation published in relation to such offering. Restrictions on Distribution This presentation is being communicated to selected persons who have professional experience in matters relating to investments for information purposes only and does not constitute a recommendation regarding any securities of the Company. Other persons should not rely or act upon this presentation or any of its contents. The contents of this presentation are strictly confidential. This presentation is being provided solely for the information of the attendees and may not be copied, reproduced, used, disclosed or redistributed, in whole or in part, to any other person in any manner without the Company's written consent. The distribution of this presentation in certain jurisdictions may be restricted by law and recipients should inform themselves about and observe any such restrictions. In particular, this presentation may not be transmitted or distributed, directly or indirectly, in the United States, Canada, or Japan. The persons who are or who may come in possession of this presentation hereby undertake to observe the restrictions contained herein. The information provided herein is for limited use only. As per the applicable laws, no person(s) shall share these financial projections with third parties excluding governmental departments/government regulatory bodies, who may seek such financial projections for their official use and/or under applicable law. These conditions shall be strictly adhered to while processing the above financial projections or any other related information. This document does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to purchase securities of the Company or any member of the Group or an inducement to enter into investment activity, in any jurisdiction. In particular, this document and the information contained herein do not constitute or form part of any offer of securities for sale in the United States and are not for publication or distribution in the United States. No securities of the Company have been or will be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to registration or an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended. No public offering of securities will be made into the United States. Disclaimer This presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, as to and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information contained herein or any statement made in this presentation. The presentation has not been independently verified. The Company, each member of the Group and their respective directors, advisers and representatives do not accept any liability for any facts made in or omitted from this presentation. To the maximum extent permitted by law, the Company, each member of the Group and their respective directors, advisers and representatives disclaim all liability and responsibility (including without limitation any liability arising from negligence or otherwise) for any direct or indirect loss or damage, howsoever arising, which may be suffered by any recipient through use of or reliance on anything contained in or omitted from or otherwise arising in connection with this presentation. Certain information and statistical data in this presentation have been obtained from sources the Company believes to be reliable, but there can be no assurance as to the accuracy or completeness of the included information. This presentation contains government targets and estimates and these targets and estimates are subject to change based on, among other things, changes in government policy. The information contained in and the statements made in this presentation should be considered in the context of the circumstances prevailing at the time. There is no obligation to update, modify, or amend such information or statements or to otherwise notify any recipient if any information or statement set forth herein, changes or subsequently becomes inaccurate or outdated. The information contained in this document is provided as at the date of this document and is subject to change without notice. No Investment Advice Any investor that intends to deal in any existing or prospective securities of the Company is required to make its own independent investigation and appraisal of the business and financial condition of the Group and the nature of the securities at the time of such dealing. Attendees are deemed to represent that they possess, either individually or through their advisers, sufficient investment expertise to understand the risks involved in dealing in any such securities. No one has been authorised to give any information or to make any representations other than those contained in this presentation, and if given or made, such information or representations must not be relied upon as having been authorised by the Company or its affiliates. The information in this presentation does not constitute financial advice (nor investment, tax, accounting, or legal advice) and does not take into account an investor's individual investment objectives, including the merits and risks involved in an investment in the Company or its securities, or an investor's financial situation, tax position or particular needs. No recommendation is made as to how investors should exercise any investment decision. The information contained herein is of a general nature and treats the subjects covered herein in condensed form. It is intended to provide a general guide to the subject matter and should not be relied on as a basis for business or investment decisions. This presentation is distributed by the Company upon the express understanding that no information herein contained has been independently verified. Past and Future Performance Past performance information in this presentation should not be relied upon as an indication of (and is not an indicator of) future performance. This presentation contains "forward-looking statements". Forward looking statements reflect the Company's current views with respect to future events and are not a guarantee of future performance. They are based on the Company's currently held belied and assumptions of its management, which in turn are based on currently available information, which are expressed in good faith. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors beyond the Company's control that could cause the actual results, performance or achievements of any member of the Group to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. Similarly, statements about market and industry trends, expected financial condition and results of operations, business, plans, objectives, strategies, goals and prospects are based on interpretations of current market conditions which are also subject to change. These statements may also assume the success of the Group's business strategies. The success of any of these strategies is subject to uncertainties and contingencies beyond the Group's control, and no assurance can be given that any of the strategies will be effective or that the anticipated benefits from the strategies will be realised in the period for which the forward looking statements may have been prepared or otherwise. Attendees are cautioned not to place undue reliance on forward looking statements. No representation, warranty or assurance (express or implied) is given that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur. Third Party Data This document contains data sourced from and the views of independent third parties. In replicating such data in this document, the Company makes no representation, whether express or implied, as to the accuracy of such data. The replication of any third party views in this document should not necessarily be treated as an indication that the Company agrees with or concurs with such views. By participating in this presentation, attendees agree to be bound by the foregoing limitations. JSW Energy 2