JSW Energy Limited

rs,

change Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sirs, Further to our letter dated 20th October, 2023, please find attached the Results Presentation in co

225MW

ustainability Business Environment Appendix JSW Energy Q2 FY24 Results Presentation Vijayanagar 225MW Solar Power Plant 3 Q2 FY24 Highlights (1/2) • Overall Net Generation: Up by 29% YoY at 8.6 BUs

29%

Vijayanagar 225MW Solar Power Plant 3 Q2 FY24 Highlights (1/2) • Overall Net Generation: Up by 29% YoY at 8.6 BUs driven by strong merchant sales, organic RE capacity additions and contribution fr

47%

acity additions and contribution from acquired* RE portfolio • Net renewable generation is up by 47% YoY at 4.4 BUs and total thermal generation is up 15% at 4.3 BUs • Net Long Term Generation: Up by

15%

ortfolio • Net renewable generation is up by 47% YoY at 4.4 BUs and total thermal generation is up 15% at 4.3 BUs • Net Long Term Generation: Up by 22% YoY driven by higher generation at Ratnagiri (Unit

22%

YoY at 4.4 BUs and total thermal generation is up 15% at 4.3 BUs • Net Long Term Generation: Up by 22% YoY driven by higher generation at Ratnagiri (Unit-1) and RE capacity additions H1 FY24 Operati

29 %

Q2 FY24 New RE Capacity Thermal Outperformance New RE Capacity Thermal Outperformance Up 29 % YoY Up 22 % YoY ** ** JSW Energy Q2 FY24 Results Presentation * Acquired RE portfolio represen

22 %

w RE Capacity Thermal Outperformance New RE Capacity Thermal Outperformance Up 29 % YoY Up 22 % YoY ** ** JSW Energy Q2 FY24 Results Presentation * Acquired RE portfolio represents 1,753 MW r

1,753 MW

Y Up 22 % YoY ** ** JSW Energy Q2 FY24 Results Presentation * Acquired RE portfolio represents 1,753 MW renewable capacity acquired from Mytrah Energy ** Hydro Capacity charges to be recouped 4 Q2 FY24

₹2,008

from Mytrah Energy ** Hydro Capacity charges to be recouped 4 Q2 FY24 Highlights (2/2) EBITDA at ₹2,008 Cr and reported PAT of ₹850 Cr, both increased 83% YoY; Cash PAT stood at ₹1,180 Cr Company reporte

₹850

pacity charges to be recouped 4 Q2 FY24 Highlights (2/2) EBITDA at ₹2,008 Cr and reported PAT of ₹850 Cr, both increased 83% YoY; Cash PAT stood at ₹1,180 Cr Company reported highest ever quarterly EBI

83%

ouped 4 Q2 FY24 Highlights (2/2) EBITDA at ₹2,008 Cr and reported PAT of ₹850 Cr, both increased 83% YoY; Cash PAT stood at ₹1,180 Cr Company reported highest ever quarterly EBITDA • • On a sequentia

“• Over the medium term, the power sector outlook is healthy, as rapid urbanization and stabilization of various Govt.”

“• However, with base load capacity increase (including RTC with storage) lagging demand growth and its gestation period, supply is expected to lag demand growth over the medium term.”

Income

2

Adjusted for

2

Cash and cash equivalents comprise of

2

Climate Change

1

Waste Water

1

Renewable Power

1

Waste

1

Biodiversity

1

Water Resources

1

Investor Relations Contact

1

Water Resources

Reduce our water consumption per unit of energy produced by 50% Operational Health & Safety Resources Social Sustainability Local Considerations Indigenous People Human Rights Supply Chain Sustainability Employee Wellbeing Air Emissions Business Ethics Cultural Heritage Energy Aligned to National & International Frameworks 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) 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 Q2 FY24 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 FY23 22 Sustainability: Targets and Strategy SD Target

Investor Relations Contact

ir.jswenergy@jsw.in ESG Data Profile: Link 29 Business Environment Acquired RE portfolio Wind Farm (Maniyachi, Tamilnadu) Indian Economy 3.2 2.8 0.7 2.5 -6.6 Real GDP Growth (%) 20.1 13.1 8.4 5.4 4.0 6.2 4.5 6.1 7.8 -23.8 0 2 - n u J 9 1 - c e D 0 2 - r a M 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 3 2 - r a M 3 2 - n u J • Indian economy continues to see resilient growth amid slow global recovery and growing regional divergences o o Real GDP growth for Jun-23 quarter stood at 7.8 % YoY; this is despite a strong base of 13.1% in Jun-22 PMI: Manufacturing (Sep-23: 57.5) and Services (Sep- 23: 61) PMI continue to be encouraging o GST revenue surpasses ₹1.60 trillions for the fourth time this year; H1 FY24 collection grew 11% YoY GST Collection (₹ Lakh Cr) PMI – Manufacturing & Services • Indian Retail Inflation 2.0 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 1 2 - p e S 1

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/ (loss) (i) Items that will not be reclassified to profit or loss (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 will be reclassified to profi1 or loss Total other comprehensive Income/ (loss) [net of tax] for the period / year Total comprehensive Income/ (loss) for the period / year (7+8) Paid-up equity share capital (net of treasury shares) (Face value of f 10 per share) Other equity Earnings per share (EPS) (not annualised excluding year end) - Basic EPS ( , ) - Diluted EPS ( , ) 3 4 5 6 7 6 A B 9 10 11 12 1,1 32.79 58.28 1,191.07 1,484.60 76.84 1,140.55 2,617.39 3,137.90 160.32 135.12 179.09 1,561.44 1,300.87 2,752.51 3,316.99 5,739.23 279.85 6,D19.0B 497.54 106.05 35.43 119.23 69.37 99.97 927.59 263.48 263.48 47.14 25.33 191.01 (36.20) 4.22 - - 978.62 8.58 42.24 105.

Adjusted for

Depreciation and amortisation expense Interest income earned on financial assets that are not designated as fair value through profit or loss Finance costs Share based payments Dividend income from Investment in a subsidiary Dividend income from investments designated as fair value through other comprehensive income Loss/ (gain) on sale/ discard of property, plant and equipment (net) Provision no longer required written back Loss allowance on loans I trade receivables/ interest receivables Net (gain)/ loss arising on financial instruments designated as fair value through profit or loss Unrealised foreign exchange loss/ (gain) (net) Operating profit before wori<lng capital changes

Adjustment for movement In working capital

Decrease/ (Increase) in trade receivables and unbilled revenue Decrease in inventories Decrease in current and non-current assets I/Decrease)/ Increase in trade payables and other liabiJities Cash qenerated from operations Income taxes paid (net) Net cash generated from operating activities (Al CASH FLOW FROM INVESTING ACTIVITlES Purchase of property, plant and equipment (including capital work-in progress and capital advances) Interest received Dividend income from investment in a subsidiary Dividend income from investments designated as fair value through other comprehensive income Loans given Loans repaid proceeds from investment in equity shares of a subsidiary (buy back) Proceeds from a subsidiary on transfer of investment in equity shares/ business Investment in equity share capital of subsidiaries Investment in unsecured perpetual securities of a subsidiaries Redemption of investment from debentures of a subsidiary Bank deposits not considered as cash & cash equivalents (net) Ne