Equity Funding and Strategic Update

Historical Plant Load Factor (PLF); 4Q FY'20 and 1Q FY'21 Forecasts 23.0% 22-23% 1Q FY'21 forecast 22.0% 21.5% 21.0% 20.0% 19.4% 19.0% 18.0% 17.0% 16.0% 15.0% 1Q 24 Copyright © 2020 Azure Power |www.azurepower.com 16.4% 16.8% 17.9% 17.7% 21-22% 4Q FY'20 forecast 2Q 3Q 4Q FY'19 FY'20 20.5% Azure Power®

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