Azure Power Investor Presentation

7,115(1) MW Committed Portfolio, 1,834 MWs Operational ~90%(2) in High Irradiation Zone Rajasthan (3,675 MW) 475 MW ~6%(2) in Mid Irradiation Zone Punjab (214 MW) 214 MW BBB- & above 95% Azure Power Focus on Strong Counterparty Credit ~95% of the portfolio is Investment Grade(4) 3200 MW Gujarat (270 MW) 100 MW Andhra Pradesh (200MW) 200 MW Maharashtra (7 MW) 7 MW Karnataka (250 MW) 250 MW Rooftop Project (167 MW) 151 MW 16 MW Uttar Pradesh (100 MW) 100 MW Bihar (10 MW) 10 MW Chhattisgarh (30 MW) SECI 80% 30MW Telangana (100 MW) 100 MW Delhi (3 MW) 100 MW To be decided (2,000 MW) Assam (90 MW) 2,000 MW(1) 90 MW Operational Solar Capacity Under Construction & Committed Solar Capacity Indian Railways & Gol Entities 1% NTPC 4% Others 5% State Electricity Boards 15% 85% of the portfolio is with Gol (sovereign) backed entities Ground Mount DSO 125 Days Others 205 Days Federal 68 Days ~60% of revenues are with Highest Rated Counterparties Category A States (4) 63 Days Rooftop Irradiation Zones (3)(kWh/m2/day): High >5.5 | Mid Between 5.5-4.5 | Mid Low 4.5-3.5 (1) 4,000 MWs of Committed Capacity has an LOA but has not yet received a PPA. (2) For ground mounted project (3) National Renewable Energy Laboratory (4) Considered Integrated Rating Report by Ministry of Power, Gol, wherever Credit Rating is not available 6

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