Azure Power Investor Presentation

(1) Azure Power Overview (AZRE: NYSE) One of the Largest Solar portfolios in India 7,115 MW (1) Utility-Scale Projects | 6,948 MWs Operational 1,834 MW Under Construction 1,281 MW Azure Roof Power | 167MWs Azure Power Committed(1) 4,000 MW Awan |Punjab India's First Private MW scale Solar Plant Gandhinagar | India First MW Scale Distributed Solar Rooftop Project Founded in 2008, built India's first private utility-scale solar project in 2009 Fully integrated business from development to EPC, financing & management Operational MW growth of 95% CAGR from March 2009 95% of the total portfolio is with investment grade counterparties Total capital raised over US$2.5(2) billion since inception First Indian energy assets to list in NYSE, United States First Solar Green Bond out of India listed on SGX CDPQ, large AAA-rated Canadian pension fund, owns 50.4% Portfolio as on Sept 30, 2020: Includes 4,000 MWs which LOA has been received but PPA has not been signed; The PPA will follow only after the power is contracted with DISCOMS under a power sale agreement (PSA). There is no assurance that we will be able to sign a PPA even though we have a letter of award. (2) Exchange rate INR 73.54 to US$1 (New York closing rate of Sept 30, 2020) 5

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