JSW Steel Limited

₹38,071 crore

eel Q3 FY22 Results Presentation 2 Key Highlights – Q3 FY22 • Quarterly Revenue from Operations: ₹38,071 crore • Quarterly Operating EBITDA: ₹9,132 crore • Quarterly Net Profit: ₹4,516 crore • Net Debt to Eq

₹9,132 crore

lights – Q3 FY22 • Quarterly Revenue from Operations: ₹38,071 crore • Quarterly Operating EBITDA: ₹9,132 crore • Quarterly Net Profit: ₹4,516 crore • Net Debt to Equity: 1.02x and Net Debt to EBITDA1: 1.73x

₹4,516 crore

from Operations: ₹38,071 crore • Quarterly Operating EBITDA: ₹9,132 crore • Quarterly Net Profit: ₹4,516 crore • Net Debt to Equity: 1.02x and Net Debt to EBITDA1: 1.73x Consolidated Performance • Average c

1.02x

arterly Operating EBITDA: ₹9,132 crore • Quarterly Net Profit: ₹4,516 crore • Net Debt to Equity: 1.02x and Net Debt to EBITDA1: 1.73x Consolidated Performance • Average capacity utilization of 94% in

1.73x

2 crore • Quarterly Net Profit: ₹4,516 crore • Net Debt to Equity: 1.02x and Net Debt to EBITDA1: 1.73x Consolidated Performance • Average capacity utilization of 94% in Q3 FY22 (Ex-Dolvi expansion)

94%

1.02x and Net Debt to EBITDA1: 1.73x Consolidated Performance • Average capacity utilization of 94% in Q3 FY22 (Ex-Dolvi expansion) • Crude Steel Production of 4.41mt, Sales of 3.91mt (excluding BPS

4.41mt

• Average capacity utilization of 94% in Q3 FY22 (Ex-Dolvi expansion) • Crude Steel Production of 4.41mt, Sales of 3.91mt (excluding BPSL2) • Bhushan Power & Steel (BPSL): Production of 0.64mt, Sales of

3.91mt

ty utilization of 94% in Q3 FY22 (Ex-Dolvi expansion) • Crude Steel Production of 4.41mt, Sales of 3.91mt (excluding BPSL2) • Bhushan Power & Steel (BPSL): Production of 0.64mt, Sales of 0.58mt Operation

0.64mt

duction of 4.41mt, Sales of 3.91mt (excluding BPSL2) • Bhushan Power & Steel (BPSL): Production of 0.64mt, Sales of 0.58mt Operational Performance Other Highlights • Commissioned 5mtpa expansion at Do

0.58mt

, Sales of 3.91mt (excluding BPSL2) • Bhushan Power & Steel (BPSL): Production of 0.64mt, Sales of 0.58mt Operational Performance Other Highlights • Commissioned 5mtpa expansion at Dolvi in October 20

5mt

Production of 0.64mt, Sales of 0.58mt Operational Performance Other Highlights • Commissioned 5mtpa expansion at Dolvi in October 2021, and commercial production started on 15th November 2021; ra

47%

ction started on 15th November 2021; ramp-up is under way • Captive iron ore self-sufficiency at 47% • 2021 CDP Climate Change assessment: Maintained leadership rating of ‘A-.’ JSW Steel is the only

“World AEs US Euro area Japan EMDEs India China PMI - Manufacturing Index of Industrial production (% YoY) • World Bank reduced 2022 global GDP forecast by 20 bps to 4.1%, due to Omicron, diminishing fiscal support and supply bottlenecks.”

“Note: * GDP forecast for India pertains to fiscal year.”

“Phased commissioning from Q4 FY23 JSW Steel Q3 FY22 Results Presentation 40 Key Project Updates - Others Vasind and Tarapur: Downstream projects • Modernisation-cum-capacity enhancement projects o All expansions commissioned, including 0.45 mtpa GI/GL at Vasind in October 2021.”

Climate Change

1

Joint Control Entity

1

Credit Ratings

1

Investor Relations Contact

1

Climate Change

• Aligned to India’s Nationally Determined Contributions for Climate Change as per Paris Accord • Carbon neutrality at JSW Coated by 2030 • >42% reduction in specific CO2 emissions by 2030 (vs. base year 2005) Waste: 100% solid waste utilization Biodiversity: No Net Loss for Biodiversity Waste Water: Zero Liquid Discharge Water Resources: >25% reduction in fresh water consumption by 2030 (vs. base year 2005) Resources Sustainable Mining 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 Board-level Business Responsibility And Sustainability Committee t n e d n e p e d n I s r o t c e r i D e v i t u c e x E s r o t c e r i D Mr. Malay Mukherjee Dr. (Mrs.) Punita Kumar Sinha Mrs. Nirupama Rao Mr. Seshagiri Rao M. V. S. Dr. Vinod Nowal Mr. Jayant Acharya Integrated Reporting FY 2018 FY 2019 FY

Joint Control Entity

JSW Ispat Special Products Ltd. JSW Steel Indian Operations including Joint Control Total Combined Volumes 4.23 0.18* 4.41 0.64 0.16 0.14 5.19 5.35 3.82 0.18 4.00 0.58 0.15 0.13 4.72 4.87 12.43 0.18* 12.61 2.02 0.45 0.41 15.04 15.50 Sales 11.21 0.19 11.40 1.82 0.40 0.41 13.63 14.03 JSW Steel Q3 FY22 Results Presentation Note: Without elimination of inter-company volumes * Excluding the trial production ** BPSL is a subsidiary from 1st October 2021. 20 Branding and Marketing Initiatives JSW Radiance: Digital Campaign JSW Neosteel: IPL TVC Campaign JSW Silveron Galvalume: Brand Launch JSW Steel Q3 FY22 Results Presentation 21 20 Grades/ Products Approved with OEMs in Q3 FY22 (1/3) Pre Painted (including EMBO) development for Appliances - Refrigerator Doors ,Frames, Freezer High Strength & Structural Steel for automotive - 2 wheeler & Commercial Vehicle Applications Refrigerator Cabinet (IS 277 GPL(SGCC) –Embo) 2 Refrigerator Cabinet (IS 277 GPL(SGCC) – Embo) Freezer Cabinet (IS277 GPL(IS

Credit Ratings

o o International: Fitch: BB- (Positive outlook) and Moodys: Ba2 (Positive outlook) Domestic: CARE: AA (Stable outlook), IndRa: AA (Stable outlook), ICRA: AA (Stable outlook) Debt Profile • • • • Access to diverse pools of liquidity. Strong relationships with domestic and international banks and financial institutions Net Gearing and Leverage well under stated caps of 1.75x and 3.75x, respectively Successfully raised US$3.69bn through global bond markets since 2014 Issued global steel industry’s first USD Sustainability Linked Bond in September 2021 JSW Steel Q3 FY22 Results Presentation Note: Net Debt/EBITDA on LTM basis 37 Agenda Sustainability Business Environment Operational Performance Financial Performance Project Updates Digitalisation at JSW Steel JSW Steel Q3 FY22 Results Presentation 38 Key Project Updates - Dolvi Expansion from 5 to 10 mtpa Integrated Steel operations commenced in October 2021, and commercial production started on 15th November 2021. Ramp-up is under way 5 m