Investor Presentaiton

Growth Framework leading to industry-leading returns Single digit to lower teen IRR% Equity IRRS Current market returns due to highly competitive tariffs¹ Mid-teen IRR % Pre-Bid Preparation Project Execution JSW Energy Target Returns ■ Bidding with ■ No Turn key EPC contracts: instead creating value with split Targeting mid-teen post-tax equity IRRS conservative assumptions Targeting a niche market segment package approach ■ offering healthy returns ■ Pre-bid resources identification to reduce uncertainty on land & connectivity Modular commissioning; Early onset of revenues ▪ Debt loading coinciding with revenue generation 1- Company market analysis; COD: Commercial operations date; IRR: Internal Rate of Return JSW Energy Corporate Presentation - Jan'24 JSW Energy High-teen Returns Realized Potential Upside Levers Post COD Realized Returns ■ Cost reductions due to Self O&M Technology Improvement ■ Reducing Interest cost via refinancing Enhancement In Returns Realized 55

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