Shyam Metalics and Energy Limited

16 million

e focused on return on invested capital, as evidenced by the following statistic: we have infused $ 16 million into the company since inception, returned $ 164 million since inception by way of dividend and O

164 million

the following statistic: we have infused $ 16 million into the company since inception, returned $ 164 million since inception by way of dividend and OFS, and have a residual stake of $ 2.1 billion invested in

2.1 billion

returned $ 164 million since inception by way of dividend and OFS, and have a residual stake of $ 2.1 billion invested in the company. A breakup of cumulative five-year financial performance Revenue EBITD

21%

mulative five-year financial performance Revenue EBITDA PAT EBITDA Margin (%) PAT Margin (%) 21% 16% 26% 21% 19% 27% 12% 35% 29% 5,484 922 572 24% CAGR 1,736 31% CAGR 279 31% CA

16%

ive five-year financial performance Revenue EBITDA PAT EBITDA Margin (%) PAT Margin (%) 21% 16% 26% 21% 19% 27% 12% 35% 29% 5,484 922 572 24% CAGR 1,736 31% CAGR 279 31% CAGR 1

26%

ive-year financial performance Revenue EBITDA PAT EBITDA Margin (%) PAT Margin (%) 21% 16% 26% 21% 19% 27% 12% 35% 29% 5,484 922 572 24% CAGR 1,736 31% CAGR 279 31% CAGR 163 8

19%

inancial performance Revenue EBITDA PAT EBITDA Margin (%) PAT Margin (%) 21% 16% 26% 21% 19% 27% 12% 35% 29% 5,484 922 572 24% CAGR 1,736 31% CAGR 279 31% CAGR 163 837 327 1

27%

ial performance Revenue EBITDA PAT EBITDA Margin (%) PAT Margin (%) 21% 16% 26% 21% 19% 27% 12% 35% 29% 5,484 922 572 24% CAGR 1,736 31% CAGR 279 31% CAGR 163 837 327 115 4

12%

erformance Revenue EBITDA PAT EBITDA Margin (%) PAT Margin (%) 21% 16% 26% 21% 19% 27% 12% 35% 29% 5,484 922 572 24% CAGR 1,736 31% CAGR 279 31% CAGR 163 837 327 115 45 21

35%

mance Revenue EBITDA PAT EBITDA Margin (%) PAT Margin (%) 21% 16% 26% 21% 19% 27% 12% 35% 29% 5,484 922 572 24% CAGR 1,736 31% CAGR 279 31% CAGR 163 837 327 115 45 21 37

29%

Revenue EBITDA PAT EBITDA Margin (%) PAT Margin (%) 21% 16% 26% 21% 19% 27% 12% 35% 29% 5,484 922 572 24% CAGR 1,736 31% CAGR 279 31% CAGR 163 837 327 115 45 21 37 16.1

24%

T EBITDA Margin (%) PAT Margin (%) 21% 16% 26% 21% 19% 27% 12% 35% 29% 5,484 922 572 24% CAGR 1,736 31% CAGR 279 31% CAGR 163 837 327 115 45 21 37 16.1% 16.8% 13.7% 13.8%

“No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.”

“We can grow Revenue, EBITDA at ~2x, ~2.5x times over next 5 years, respectively, even if we grow by 15-17% for revenues and 18-20% CAGR for EBITDA respectively, without raising any additional capital and retaining our 75% stake.”

“• Expect: o M&A activity o Asset sales from distressed PSUs or small producers o Vertical integration (captive mines, power, logistics) The Indian steel market consolidates around 5–6 large, efficient players.”

Stainless Steel

2

Aluminium

2

OUR BRANDS

1

Ore Mine

1

Objectives for Expansion

1

India can position its steel as

1

Product Mix

1

Carbon Steel

1

OUR BRANDS

SLTIGER il RE SiTIGERF O/ s UL DLTIGER s SLTIGER l:llfl MLTIGER - SHYAM METALICS AND ENERGY LIMITED Trinity Tower, 7th Fl P-19, No.. +91 33 4016 4025 = 33, Topsia Road, Kolkala - 700 046, West Bengal, (Plate Taratala Road, GPT Golony, D-403), 11 contact@shyamgroup.com \/1:: 40101WB2002PLC0O95491 Kolkata, West Bengal - 700088 www.shyammetalics.com | +81 33 4016 4001 72 2 19AAHCS5842A2ZD nE@aom Investor Presentation | May 2025 Safe harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shyam Metalics And Energy Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the

Ore Mine

Maharashtra Railway siding 377 MW CPP Renewables – Captive Solar Energy Plant Aluminium Mill with Caster Current Portfolio Downstream Products Multiple Sale Points across the Value Chain Greater Control on Operating Margins Flexibility to alter Product Mix Focus on Quality Intermediates Ferro Alloys Finished Steel Stainless Steel Aluminium Foil Pellets, Billets, Sponge Iron, Coke Oven, Pig Iron Billet- Hot Flat Product, Billet- Parallel Flange Ferro chrome, Low Carbon Ferro Chrome, Ferro Manganese, Silico Manganese Angles, Channels, TMT, Beam, Wire rod & Structurals, Color Coated Sheets Billet SS Aluminum Flat Rolled Products Battery foil Upcoming Projects CRM Stainless Stainless Steel Ductile Iron Pipes

Objectives for Expansion

Hot Flat Products Parallel Flange Beam Steel Wire Drawing Stainless Steel Bright Bars Stainless Steel Wire Rods ✓ Foray into Newer Segments ✓ Increase Backward Integration ✓ Utilize cash generated from operations for growth 7 Steel industry: China v India – a comparative outlook Global Position & Scale #1 global steel producer with ~1,000 MT output in 2023 (54% of global share). High per capita consumption (~630 kg/year) and strong export intensity indicate a mature, export-driven market #2 global steel producer with ~140 MT output in 2023 (7% of global share) Low per capita consumption (~80 kg/year) and low export intensity reflect strong headroom for domestic demand growth. CHINA INDIA Demand Drivers Infrastructure, real estate, and manufacturing exports Urbanization, infrastructure build-out, defense, renewable energy, and affordable housing Industry Structure China’s steel industry is mostly state-owned and dominated by giants like Baowu. It has a history of aggressive export polic

India can position its steel as

o Green and traceable o “Make in India” with clean power o Aligned with EU CBAM and other ESG trade regimes Export potential survives—if framed as clean, not cheap. Margin Pressure Will Force Consolidation Strategic Summary: India Adapts, Doesn’t Compete Head-On • China’s oversupply will cap global steel prices, hurting smaller or unintegrated Indian players. • Expect: o M&A activity o Asset sales from distressed PSUs or small producers o Vertical integration (captive mines, power, logistics) The Indian steel market consolidates around 5–6 large, efficient players. China (Oversupply) Volume-led, cost-focused Massive flat steel exports Low ESG credibility Price taker globally India (Strategic Evolution) Value-led, demand-anchored Domestic infra, rail, housing boom Green, traceable steel leadership Price setter in specialty segments India won’t beat China on price - but it doesn’t have to. It will win by being the most important structural demand story in steel for the next 20 years 9 Sh

Product Mix

Scaling up stainless steel, aluminum foil and EV Battery Foil Strong Brand & Distribution Network Private Railway Sidings Advantage for Seamless Logistics Captive Power for ~83% power requirement Capacity Addition to increase share of High Margin B2C Products De-Leveraged Balance Sheet giving flexibility in growth Sustainable solution - Waste used as ‘Productive Inputs’ Consistent Performance over the last decade 19 Expansion with strong focus on value added products Capacity (MTPA) FY21 FY22 FY23 FY24 FY25 Post Expansion Capacity (MTPA) Integration has enabled greater control on the operating margins Iron Pellet 2.40 3.60 4.80 6.00 6.00 Sponge Iron 1.39 2.11 2.54 2.90 3.05 Billets 0.89 0.94 1.69 2.01 2.01 6.00 4.10 2.41 TMT, Structural Steel, Wire Rods & Pipes Speciality Alloys Captive Power (MW) Renewable Power (MW) Stainless Steel Billet Stainless Steel Finished Steel Aluminium Foil 0.82 0.90 1.97 2.07 2.07 2.07 0.21 0.21 0.22 0.22 0.22 0.24 227 267 267 357 467 5 - - - 5 - - 9 - - 0

Stainless Steel

Billet Stainless Steel Billet Slabs for Flat products Hot flat products CRM Stainless Steel Stainless Steel Bright Bars Stainless Steel Wire Rods Total Stainless Steel (B) Ferro Alloys (C)