JSW Energy Limited

rs,

change Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sirs, Further to our letter dated 23rd May, 2023 please find attached the Results Presentation in connect

44%

Y23 Results Presentation 2 FY2023 – A Year of Delivering Promises Operating Capacity Enhanced by 44% (~2GW) in FY23 2nd highest Operating EBITDA and Adjusted PAT ever Won the largest single location

2GW

sults Presentation 2 FY2023 – A Year of Delivering Promises Operating Capacity Enhanced by 44% (~2GW) in FY23 2nd highest Operating EBITDA and Adjusted PAT ever Won the largest single location BESS

1GW

2nd highest Operating EBITDA and Adjusted PAT ever Won the largest single location BESS project of 1GWh Won Hydro Pump Storage project of 2.4GWh Contracted India’s largest commercial scale Green H2

2.4GW

PAT ever Won the largest single location BESS project of 1GWh Won Hydro Pump Storage project of 2.4GWh Contracted India’s largest commercial scale Green H2 Backward Integration to Solar Module via PL

2 GW

vering Sustainable Growth – Resilient Business Model Increased capacity by ~2GW (44%) YoY 1,730 2 GW of Renewable Led Capacity Addition in FY23 (GW) 6,564 44% 6,615 4,531 4,541 4,559 4,559 4,55

1,753 MW

ntation Operating EBITDA and Adj. PAT are adjusted for one-offs and exceptional items 4 Acquired 1,753 MW of Mytrah RE Assets JSW Energy Completed the Acquisition of RE Portfolio of Mytrah Energy Largest

1,331 MW

isition of RE Portfolio of Mytrah Energy Largest acquisition by the Company. 1,753 MW comprises of 1,331 MW of wind capacity and 422 MW (487 MWp DC) of solar • Acquisition of 15 SPVs and 13 ancillary SPVs

422 MW

ah Energy Largest acquisition by the Company. 1,753 MW comprises of 1,331 MW of wind capacity and 422 MW (487 MWp DC) of solar • Acquisition of 15 SPVs and 13 ancillary SPVs having 1,449MW of total in

487 MW

y Largest acquisition by the Company. 1,753 MW comprises of 1,331 MW of wind capacity and 422 MW (487 MWp DC) of solar • Acquisition of 15 SPVs and 13 ancillary SPVs having 1,449MW of total installed

1,449MW

d capacity and 422 MW (487 MWp DC) of solar • Acquisition of 15 SPVs and 13 ancillary SPVs having 1,449MW of total installed RE capacity • Infusion of Optionally Convertible Debentures (OCDs) with a ri

304 MW

e Debentures (OCDs) with a right to convert into equity for the balance 2 SPVs having RE assets of 304 MW. EV of ~ ₹10,150 Crs, after adjusting for net current assets and other adjustments under the SPAs

“28 Q4 FY23 Highlights (2/3) Under construction – Generation Projects Energy Storage Projects • 1.26 GW SECI IX & X Wind projects : Progressive commissioning of SECI X project under progress with part CoD for 78 MW as of Apr’23; WTG foundation and balance of plant works in-progress for SECI IX.”

“• 240 MW Kutehr HEP: Project well ahead of timelines with ~92% tunneling completed (70% in FY22) • Battery Energy Storage System: LoA received for 1 GWh (500MW x 2 hours) SECI project • Hydro Pumped Storage: o Letter of Intent for procurement of 2.4 GWh (300 MW x 8 hours) of energy from PSP received from Power Company of Karnataka Limited under a competitive bidding o MoUs/LoI signed for 18GWh (2.7 GW) during the quarter.”

“FY2023 -A year of Delivering Promises JSW Energy has showcased a stellar performance in delivering on its articulated capacity growth targets of being a 10 GW generating company by FY25.”

“The company will reach 9.8 GW by CY 24, well before its stated goal.”

“✓ Energy Storage Projects: The company has won bids for 3.4GWh of storage projects comprising of (i) Battery energy storage bid from Solar Energy Corporation of India (lGWh/S00MW) and (ii) Hydro Pump Storage project from Power Company of Karnataka Limited for procurement of 2.4GWh for a prior of 40 years.”

“The plant will be commissioned by April 2025.”

“• 240 MW Kutehr HEP: Project well ahead of timelines with ~92% tunneling completed (up from ~90% in Q3 FY23)”

“The Company has 6.6 GW of operational capacity and 3.2 GW of under construction projects which are expected to be operational by CY24 implying 25% CAGR by CY24.”

“• Kutehr Hydro Project - 240 MW: PPA signed with Haryana discern.”

“Project progressing ahead of the target timelines of September 2024.”

Wind

8

Thermal

4

Solar

3

Income

2

Expenses

2

Adjusted for

2

Cash and cash equivalents comprise of

2

Notes

2

Hydro

1

Climate Change

1

Solar

45 MW 225 MW • Map of India representation – scaling may not be accurate 21 25% CAGR growth in Installed Generation Capacity by 2024 + 1 GWh BESS Under Construction 3.2 GW, to be Commissioned by CY24 Under-Construction 4.6 FY21 0.7 0.2 0.8 6.6 0.4 20% CAGR 25% CAGR 0.7 0.3 9.8 Current Operational SECI - X SECI- IX Group Captive Wind Kutehr Ind Barath SECI- XII Operational by CY24 SECI IX (810) SECI X (450) Group Captive - JSW Steel (958) 225MW Solar operational Kutehr HEP (240) SECI XII (300) Ind-Barath (700) Plant (MW) Commissioning Progressively from Q1 FY24 Progressively from Q3 FY23 PPA 25- year; SECI 25- year; SECI Progressively from Q1 FY24 25- year; JSW Steel Capital Expenditure Total: ₹16,660 Cr Committed : ~₹13,150 Cr Spent: ~₹6,730 Cr Sep-24 Mar-25 FY24 35- year; Haryana Discom 25- year; SECI - Total: ₹ 2,200 Cr Total: ~₹ 2,700 Cr JSW Energy Q4 FY23 Results Presentation 22 Opportunity to Accelerate Growth – Proven Execution Capability Opportunities JSW Energy Edge Enhanced Va

Water Resources

Reduce our water consumption per unit of energy produced by 50% Governance & Oversight by Sustainability Committee 2 Independent Directors 1 Executive Director Mr. Sunil Goyal Ms. Rupa Devi Singh Mr. Prashant Jain ESG Ratings – best amongst peers CDP* : A- (Leadership Level) Sustainalytics: 23.9 (Medium Risk) Operational Health & Safety Resources Social Sustainability Local Considerations Indigenous People Human Rights MSCI : BB Supply Chain Sustainability Employee Wellbeing Air Emissions Business Ethics Cultural Heritage Energy Aligned to National & International Frameworks FTSE4Good Index constituent Carbon Neutrality by 2050 Committed to set science based targets to keep global warming to 1.5°C under SBTi Integrated Reporting since FY19 JSW Energy Q4 FY23 Results Presentation *based on CDP climate change rating 2022. CDP water security rating 2022 is B (Management). CDP Supplier Engagement rating 2022 is A (Leadership) FY19 FY20 FY21 FY22 44 Sustainability: Targets and Strategy SD T

Grow Care Gold Award

Karcham Wangtoo & BASPA II plants recognized for Occupational Health & Safety (OHS) ESG India Leadership Award: JSW Energy has won with ‘Best Air Pollution Management Award’ for actively leading ESG transformation and commitment towards sustainability JSW Energy Q4 FY23 Results Presentation 49 Vijayanagar TPP

Investor Relations Contact

ir.jswenergy@jsw.in ESG Data Profile: Link 50 Business Environment Baspa Hydro Power Plant Indian Economy Real GDP Growth (%) 3.2 2.8 0.7 2.5 20.1 8.4 5.4 4.1 13.5 6.3 4.4 -6.6 -23.8 0 2 - n u J 0 2 - r a M 9 1 - c e D 0 2 - p e S 0 2 - c e D 1 2 - r a M 1 2 - n u J 1 2 - p e S 1 2 - c e D 2 2 - r a M 2 2 - n u J 2 2 - p e S 2 2 - c e D GST Collection (₹ Lakh Cr) PMI – Manufacturing & Services 1.8 1.6 1.4 1.2 1.0 0.8 0 2 - n u J 0 2 - p e S 0 2 - c e D 1 2 - r a M 1 2 - n u J 60 55 50 45 40 35 30 25 20 PMI Manufacturing PMI Service 2 2 - n u J 2 2 - r a M 1 2 - p e S 1 2 - c e D 2 2 - r a M RBI projects India’s GDP growth at 6.5% for FY24 1 2 - r a M 0 2 - c e D 1 2 - c e D 0 2 - p e S 1 2 - p e S 0 2 - n u J 1 2 - n u J 3 2 - r a M 2 2 - c e D 2 2 - p e S 2 2 - n u J 2 2 - p e S 2 2 - c e D 3 2 - r a M • India continues to see resilient growth amid headwinds from slowing global growth and trade o o o Real GDP growth for quarter Dec-22 stood at 4.4% YoY. PMI: Manufacturing (Mar-23: 56.

Expenses

a) Fuel cost b) Purchase of stock-in-trade c) Employee benefits expense d) Finance costs e) Depreciation and amortisation expenses f) Other expenses Total expenses Profit before exceptional items and tax (1-2) Exceptional item [Refer note 1] Profit before tax (3+4)

Tax expense

- Current tax - Deferred tax Profit for the period / year (5-6) Other comprehensive income I (loss) 3 4 5 6 7 8 1,646.64 50.38 1,697.02 954.69 50.37 1,081 ,02 5,739.23 31.20 279.85 1,005.06 1,112.22 6,019.08 3,642.74 228.26 3,871.00 1,081 .85 602.44 631.61 3,643.63 2,041.09 70.15 34.10 133.32 76 ,87 120.08 1,516.37 180.65 - 180.65 30.50 18.53 131.62 20 .71 33 .22 57.66 80.28 98.76 893.07 111.99 - 111.99 14.44 18.46 79.09 64.91 - - (111 .14) - - 34 ,02 25 .83 78.02 147.54 917.02 195.20 - 195.20 44.62 (6.27) 156.85 534.23 (61 ,99) - - 354.45 134.73 259.80 317.42 399.44 26.11 124.10 127.00 327.69 406.93 5,109.47 3,052.92 909.61 120.00 1,029.61 156.70 161.89 711.02 818.08 - 818.08 174.87 73,39 569.82 (312.56) 1,899.95 36.44 (208.85) - - - (i) Items that will not be reclassified to profit or loss (558.15) 954.54 A. B (ii) Income tax relating to items that will not be reclassified to profit or loss (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that w