Investor Presentaiton

• Leading IPP with ~4.5 GW of Installed Generation Capacity Baspa II: 300MW & Karcham Wangtoo: 1,091MW Barmer: 1,080MW Configuration: 8 X 135MW Units operating: since 2010³ Technology: Sub-critical pithead Lignite based TPP • Fuel Source: Captive Lignite mines of BLMCL¹ • • Power Offtake: Long Term PPA Project Cost: INR 7,165 Crore/ $1,005mn² Ratnagiri: 1,200MW Configuration: 4 X 300MW Units operating: since 2011³ Technology: Sub-critical TPP Fuel Source: Imported Thermal Coal Power Offtake: Long Term PPA & Merchant Project Cost: INR 5,516 Crore/ $774mn² Vijayanagar: 860 MW Configuration: 2 X 130MW and 2 X 300MW Units operating: since 2000³ Technology: Sub-critical TPP Fuel Source: Imported Thermal Coal & Gas Power Offtake: Long Term PPA & Merchant Project Cost: INR 3,096 Crore/ $434mn² JSW Energy • Units operating: Baspa II since 2003 and Karcham Wangtoo since 2012 • Technology & Fuel Source: Hydro Power Offtake: Long Term PPA Asset Value to JSW Energy: INR 9,275 Crore/ $1,301mn² Kutehr: 240 MW (Under-construction) 240 MW hydro plant under construction at Kutehr (Himachal Pradesh) awaiting regulatory approval for PPA with Haryana Discom Salboni: 18 MW (Under-construction) 18 MW thermal plant under-construction at Salboni (W.B.) Nandyal: 18 MW Commissioned 18 MW thermal capacity in Q1FY20 at Nandyal (A.P.) with LT PPA under Group captive scheme Solar: 10 MW Commissioned ~10 MW solar power projects across various locations within JSW Group, and opportunities in Renewable segment Well Diversified Fuel/Geography/Offtaker Mix (1) Long term FSA with BLMCL for supply of lignite from its captive mines (2) USD/INR = 71.3 Source: RBI reference rate as of Feb 10, 2020 (3) Denotes start of first unit in respective fiscal year; TPP-Thermal Power Plant exploring other 5

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