Investor Presentaiton

West Bengal Projects: structure JSWSL 94% (Min) JŚW JSWEL 74% Subsidiary WBIDCL/ WBMDTC 6% (Max) JSWBSL 26% JSWEBL Subsidiary 100% Proposed SPV 1 JSWSL - JSW Steel Ltd. JSWEL - JSW Energy Ltd. WBIDCL - West Bengal Industrial development corporation limited WBMDTC - West Bengal mineral development and trading corporation limited JSWBSL - JSW Bengal Steel Ltd. (implementing steel project) JSWEBL - JSW Energy (Bengal) Ltd. (implementing power project) SPV 1 - Implementing development of coking coal mines SPV2 - Implementing development of thermal coal mines 100% Proposed SPV 2 31

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