Investor Presentaiton

JINDAL STEEL & POWER 6 Prudent financial policy focused on proactive leverage management and strong liquidity position Evolution of JSP's historical leverage over the years 6.0x Consol Gross Debt/EBITDA 5.4x 5.3x Consol Net Debt/EBITDA Prepayment of INR 90cr (USD12.75mn) in Oct 2020. Facility cancellation of USD 76.8mn in Sep-Nov 2020 Standalone net debt/ EBITDA 4.7x 5.0x 4.7x 4.0x 3.3x 2.8x 3.0x 2.0x 1.0x 0.0x Liquidity Policy FY'19 FY'20 ■JSP aims to maintain US$ 300mn cash at all times ■ JSP has unutilized CC limit available ■Regularly monitoring cash blockage through ToC concepts (ToC sessions conducted every Saturday by external agency and attended by CFO) Source: Company filings U.S.$1.00 = *74.2551, which was the exchange rate as reported by the FBIL on September 30, 2021 2020 consolidated numbers are reinstated numbers (1) Cash Balance includes Cash and cash equivalents + Bank balances 0.9x 2.0x 5x Divestments of JPL and JSIS Oman accelerate deleveraging 1.1x FY'21 Cash Balances (1) (US$mm) 0.5x 1H22 766 500 14 69 FY19 FY20 FY21 1H22 17

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