JSWENERGY

Energy Limited Regd. Office : JSW Centre Bandra Kurla Complex Bandra (East), Mumbai - 400 051 CIN: L74999MH1994PLC077041 Phone: 022 – 4286 1000 Fax: 022 – 4286 3000 Website: www.jsw.in SEC / JSWEL 22nd July 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra - Kurla Complex, Bandra (E) Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 533148 Scrip Code: JSWENERGY- EQ Subject: Results Presentation in connection with the unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June 2026 Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Madam / Sirs, Further to our letter dated 17th July 2026, please find attached the Results Presentation in connection with the unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June 2026. Yours faithfully, For JSW Energy Limited Monica Chopra Company Secretary Part of O. P. Jindal Group Q1 FY27 Result Presentation 22nd July 2026 Forward Looking and Cautionary Statement This presentation has been prepared by JSW Energy Limited (the “Company”) based upon information available in the public domain solely for information purposes without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation should not be construed as legal, tax, investment or other advice. This presentation is strictly confidential, being given solely for your information and for your use, and may not be copied, distributed or disseminated, directly or indirectly, in any manner. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the Company. This presentation contains statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those specified in such forward-looking statements as a result of various factors and assumptions. The risks and uncertainties relating to these statements include, but are not limited to, (i) fluctuations in earnings, (ii) the Company’s ability to manage growth, (iii) competition, (iv) government policies and regulations, and (v) political, economic, legal and social conditions in India. The Company does not undertake any obligation to revise or update any forward-looking statement that may be made from time to time by or on behalf of the Company. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The information contained in this presentation is only current as of its date and has not been independently verified. The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any person of such revision or changes. No representation, warranty, guarantee or undertaking, express or implied, is or will be made as to, and no reliance should be placed on, the accuracy, completeness, correctness or fairness of the information, estimates, projections and opinions contained in this presentation. None of the Company or any of its affiliates, advisers or representatives accept any liability whatsoever for any loss howsoever arising from any information presented or contained in this presentation. Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. Potential investors must make their own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as they may consider necessary or appropriate for such purpose. Such information and opinions are in all events not current after the date of this presentation. The Potential investors shall be in compliance with the applicable Insider Trading Regulations, with respect to the Company in reference to the information provided under this presentation. JSW Energy Q1 FY27 Results Presentation 2 Indian Economy Real GDP Growth (%) • Indian economy continues to grow amid global uncertainties 22.6 13.5 o Real GDP grew by 7.8% YoY in Q4 FY26 and is 9.9 9.7 9.3 9.5 estimated to remain healthy at 6.6% for FY27, as per 6.9 8.4 7.5 6.6 7.4 7.0 6.8 8.3 8.0 7.8 5.5 6.0 RBI 4.8 4.5 1.8 o PMI continues to remain robust at 57.4 for Services 3.3 and 54.2 for manufacturing in Jun-26 0 1 1 1 1 2 2 2 2 3 3 3 3 4 4 4 4 5 5 5 5 6 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 - - - - - - - - - - - - - - - - - - - - - - c r n p c r n p c r n p c r n p c r n p c r e D a M u J e S e D a M u J e S e D a M u J e S e D a M u J e S e D a M u J e S e D a M o GST collection at ₹ 1.95 trillion in Jun-26, indicating a 13.9% YoY growth GST Collection (₹ Lakh Cr) PMI – Manufacturing & Services 2.8 65 • Inflation 2.3 57.4 60 o June-26 CPI inflation rose to 4.38% up from 3.93% in 1.8 May as the U.S.-Iran war and a weak monsoon 1.95 55 54.2 raised food and fuel prices 1.3 50 PMI Manufacturing PMI Service o Index of Industrial Production (IIP) grew 5.1% YoY in 0.8 45 11222233334444555566 May-26 22222222222222222222 2 3 3 3 3 4 4 4 4 5 5 5 5 6 6 -------------------- 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 pcrnpcrnpcrnpcrnpcrn - - - - - - - - - - - - - - - e S e D a M u J e S e D a M u J e S e D a M u J e S e D a M u J e S e D a M u J c e D r a M n u J p e S c e D r a M n u J p e S c e D r a M n u J p e S c e D r a M n u J India's economic growth remains resilient, supported by strong GDP growth, robust GST collections, healthy industrial activity JSW Energy Q1 FY27 Results Presentation 3 Power Demand Trends in Q1 FY27 Power Demand in BUs Power Demand Growth (% YoY) • All-India power demand rose 8.5% YoY FY 2027 FY 2026 FY 2025 FY 2027 FY 2026 to 483 BUs in Q1 FY27, supported by an extended heatwave, delayed monsoon 166 progression and higher cooling demand, driving increased residential and 11.5% commercial power consumption. Demand growth accelerated to 11.5% YoY in June 2026 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 • Q1 FY27 power demand growth was led by the South (+14.4% YoY to 122 BUs) Peak Demand in GW Power Demand in BUs and West (+9.8% YoY to 152 BUs), while North West South East & NE India the North reported growth of 3.6% YoY FY 2027 FY 2026 FY 2025 445 483 149 166 to 144 BUs. East & NE demand 265 61 65 21 23 increased 6.5% YoY to 65 BUs 107 122 34 38 138 152 42 51 • India recorded its highest-ever peak power demand of 271 GW in May 2026, 139 144 52 55 while peak demand remained robust at Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 265 GW in June 2026 Q1 Q2 Q3 Q4 Q1 FY26 Q1 FY27 Jun-26 Jun-26 Robust demand growth and record peak load underscore India's strengthening power consumption trend in Q1FY27 JSW Energy Q4 FY26 Results Presentation Source: Central Electricity Authority (CEA) 4 Agenda 01 02 03 Operational & Company Strategy 3.0: Financial Highlights Growth Blueprint Performance 04 05 Safety & Appendix Sustainability JSW Energy Q1 FY27 Results Presentation 5 Q1 FY27 - Key Highlights Record Capacity Addition of ~1.1 GW till July 8th Largest Growth Capital Raise in Indian Power Sector (₹ 10,150 Cr) Preferential allotment to Promoters Hybrid, 381 Wind, 108 Inorganic, 150 ₹1,125 Cr received; balance to be received before June ₹3,000 Cr 2027 1,081 MW 1,081 MW Partial Stake Sale in JSW Steel ₹3,150 Cr 2.5 Cr JSW Steel shares monetized out of 7 Cr shares held, augmenting liquidity Hydro, 150 Solar, 442 Tidong HEP commissioned ahead of Oct'26 target, Organic , 931 capturing hydro season ₹4,000 Cr Qualified Institutions Placement (QIP) Raised from marquee global and domestic institutional investors More than One-third capacity addition target of FY 27 Achieved [Already achieved ~87% of total organic capacity added in entire FY26] Ample Liquidity Cushion (Cash balance) ₹12,881 Cr FY27 Capex Guidance Sizable cash balances & future internal accruals to fund of ₹ 20,000 Cr equity portion of estimated Capex till FY30 (~₹ 1.1 1,500 trillion) Total capex in Q1 FY27 at ₹ 4,076 Cr 4.95x Improving Net operational leverage (TTM) 419 Net operational leverage improved from ~5.2x (TTM) in H1 FY27 targeted addition of FY26 1,081 1,081 ~1.5 GW YTD ( 8th Jul'26) FY27 Target Commissioning Target of 1.5 GW by H1FY27 Strategic fund raises aiding growth and deleveraging JSW Energy Q1 FY27 Results Presentation 7 Q1 FY27 - Quarterly Highlights (1/2) LT Thermal Generation (MUs) Operational performance Utkal* +805 • Net generation volume: Declined by 5% YoY, from 13.5 BUs to 12.9 BUs, but up 10% QoQ Standalone (596) • RE (Wind & Solar) generation increased 11% YoY from 3.1 BUs to 3.4 BUs; up 41% QoQ Mahanadi (564) • Thermal generation was down by 6% YoY from 8.5 BUs to 8.0 BUs; down 9% QoQ Barmer (78) • Long Term PPA Generation: Decreased by 4% YoY, from 11.8 BUs to 11.2 BUs; up 30% QoQ Total (433) ST Thermal Generation (MUs) • Short Term PPA Generation: Down 7% YoY, from 1.7 BUs to 1.6 BUs; down 48% QoQ Mahanadi + 380 Q1 FY27 | Net Generation (MUs) Standalone +375 Utkal* (797) Renewables Thermal Total (42) 13,494 65 273 12,868 -42 -489 -433 338 1,558 MW YoY Generation down 3% YoY Generation down 6% YoY Increase in Capacity (from 4,990 MUs to 4,840 MUs) (from 8,504 MUs to 8,029 MUs) Installed Installed Capacity up 1,558 MW YoY Capacity unchanged YoY Capacity Capacity 12,768 MW 14,326 MW Q1 FY26 Hydro Wind Solar ST LT Q1 FY27 Thermal Thermal Capacity addition leading to RE(Solar& Wind) generation growth of 11% YoY JSW Energy Q1 FY27 Results Presentation *Impact of Utkal capacity PPA tie up starting April 2026: Short Term; LT: Long Term 8 Q1 FY27 - Quarterly Highlights (2/2) Consolidated Financial Growth Projects Strategic Updates Performance • Q1FY27 EBITDA up 2% YoY to ₹3,103 Cr • Renewable capacity up 1,081 MW till • Monetized part stake in JSW Steel on from ₹3,057 Cr July 8th (Solar +442 MW, Wind +108 18th May, as part of a strategic liquidity MW, Hybrid +381 MW, Hydro +150 release; gross proceeds of ₹3,150 Cr • Q1FY27 PAT stood at ₹533 Cr vis-à-vis MW); Total capacity now at 14,535 MW ₹836 Cr in Q1FY26 • Raised ₹4,000 Cr via QIP on 25th May to o 150 MW Tidong Hydro plant fully accelerate growth and reduce net • Cash PAT for the quarter stood at ₹1,464 commissioned on 12th June, well leverage Cr ahead of Oct'26 schedule • Increased stake in Toshiba JSW Power • Net Debt to Equity at 1.70x, Operational • Halol wind blade manufacturing facility Systems JV to 10.7% (from 2.4%) - Net Debt to EBITDA at 4.95x operationalized on 8th June - fortifies thermal growth • DSO stood at 65 days strengthens backward integration • Received first large external order (200 • Robust liquidity buffer with Cash & Cash • Definitive agreement signed for MW/400 MWh) for the Company's Equivalents at ₹12,881 Cr acquisition of 300 MW Maruti Thermal battery assembly facility Plant, on 13th June Momentum compounding across operations and balance sheet — the foundation for Strategy 3.0 JSW Energy Q1 FY27 Results Presentation 9 Operations & Financial Performance Pune, Maharashtra Consolidated Performance Operational Highlights Net Generation (MUs) Total Revenue (₹ Cr) • Net generation softened by 5% YoY, primarily -5% Flat 13,494 5,411 5,437 driven by lower PLFs at Hydro plants and 12,868 Mahanadi Short Term FY26 • Hydro plants were impacted due to weak 87% 87% Long Term hydrology in Q1FY27 despite plant FY27 11,752 11,242 availability; continues to receive capacity Total charges, basis plant availability • Mahanadi plant impacted due to a one-off Q1 FY26 Q1 FY27 Q1 evacuation availability (Force Majeure); normalized in June’26 EBITDA (₹ Cr) Cash Profit After Tax * (₹ Cr) • RE generation declined 3% YoY from 5.0 BUs to 4.8 BUs; Thermal generation decreased 6% YoY -7% 2% from 8.5 BUs to 8.0 BUs 3,057 3,103 1,579 1,464 Financial Highlights FY26 FY26 • Revenue remained flat YoY at ₹5,437 Cr, while FY27 FY27 EBITDA increased 2% to ₹3,103 Cr • Cash PAT fell 7% YoY to ₹1,464 Cr; reported PAT at ₹ 533 Cr declined from ₹ 836 Cr in Q1 Q1 Q1 FY26 Capacity addition rendering stable EBITDA outlook JSW Energy Q1 FY27 Results Presentation 11 *Cash Profit after tax computed as PAT to shareholders+ Depreciation+ Deferred Taxes – Dividend income +/(-) Exceptional items for operational assets. Consolidated Financial Results Total Revenue (Q1 FY27) EBITDA (Q1 FY27) EBITDA Margin (Q1 FY27) Cash PAT (Q1 FY27) ₹5,437 Cr Flat ₹3,103 Cr 57% ₹1,464 Cr -7% +2% 0.6 pp vs ₹5,411 Cr Q1 FY26 vs ₹3,057 Cr Q1 FY26 vs 56% Q1 FY26 vs ₹1,579 Cr Q1 FY26 Particulars in ₹ Crore Q1 FY27 Q1 FY26 Total Revenue 5,437 5,411 EBITDA 3,103 3,057 EBITDA Margin(%) 57% 56% Depreciation 890 739 Finance Cost 1,519 1,306 Profit Before Tax 696 1,012 PAT 533 836 Non-Controlling Interest 62 93 PAT to Shareholders 471 743 Cash Profit After Tax 1,464 1,579 Diluted EPS (₹) 2.57 4.25 RE Capacity addition leading to higher EBITDA margin JSW Energy Q1 FY27 Result Presentation 12 EBITDA Bridge Q1 FY27 Particulars in ₹ Cr ₹ (186) Crore from Thermal 3,057 122 16 3,103 95 (109) (77) +2% YoY ₹ 217 Crore from Renewables EBITDA Thermal - LT Thermal - ST Solar & Wind Hydro Others EBITDA Q1 FY26 Q1 FY27 RE capacity addition and LT PPA tie up supporting EBITDA growth JSW Energy Q1 FY27 Results Presentation 13 Net Debt Movement Q1 FY27 Operational Net Debt (₹ Cr) CWIP Debt (₹ Cr) 3,654 57,779 8,055 -64 54,885 -2,212 -1,277 -2,995 6,437 -1,618 New Debt Taken Repayment Change in (incl. acquisition Cash & Cash debt and Eq.* Net Debt as on reclassification) Forex restatement Movement in Net Debt as on Net Debt as on Net Addition Net Debt as on Mar 31,2026 Jun 30,2026 Mar 31,2026 and other short term Jun 30,2026 borrowings Net Debt: ₹ 61,322 Cr = Operational Net Debt: ₹ 54,885 Cr + CWIP Net Debt: ₹ 6,437 Cr (TTM Net Leverage: 5.53x) TTM Operational Net Leverage Declined to 4.95x JSW Energy Q1 FY27 Results Presentation 14 Superior Credit Profile Net Debt (₹ Cr) Net Worth (₹ Cr)* & Cash Returns (%) 36,161 59,313 61,960 63,771 65,834 61,322 27,362 27,738 19% 29,124 20% 29,634 20% 30,752 18% 16% 31,336 20,746 21,378 22,031 22,413 23,781 14% Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Adjusted Net Worth (₹ Cr) ** Net Worth (₹ Cr) Cash Return on Adj. Net Worth (%) Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 QIP leading to higher Networh; impacting Returns in Q1FY27 Leverage Ratios Wt. Average Cost of Debt ND/EBITDA ND (Excl. CWIP)/EBITDA ND/Equity 9.05% 5.95 6.03 6.05 5.96 5.53 8.87% 4.96 8.79% 8.57% 5.23 4.66 4.82 4.92 4.95 3.89 8.36% 8.36% 2.14 2.13 2.15 2.15 1.61 1.70 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 JSW Energy Q1 FY27 Results Presentation * Net Worth is impacted by change in value of listed equity investments through Other Comprehensive Income ** Adjusted for value of investments (net of taxes) 15 Healthy Trade Receivables Trade Receivables* (₹ Cr ) Off-taker Profile: Installed Capacity# HR, 2% Others, 10% 4,151 3,696 Open, 4% TN, 4% Hybrid, UP, 8% 1,696 Group Captive, 20% Hydro, Thermal, 1,781 5,658 C&I, 5% GJ, 3% 14,535 MW HP, 2% Wind, 3,125 MH, 3% Jun 30, 2025 Jun 30, 2026 AP, 3% Solar, SECI, 12% 2,275 KA, 5% TS, 3% Receivable Days 58 65 PTC, 7% RJ, 9% Receivables days is based on Q1 FY27 capacity of 14,326 MW Marginal Increase in DSO driven by higher LT tie-ups Diversified Fuel Source and Offtaker, leading to De-risked Business Model *Includes unbilled revenue; # Reclassified 225 MW solar and ~639 MW wind capacity as hybrid projects following revisions to Vijayanagar Group Captive PPA modalities JSW Energy Q1 FY27 Results Presentation 16 Cash Returns on Adjusted Net Worth ₹ Cr (Unless mentioned otherwise) Jun-26 Quarter ended Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 (TTM)^ PAT to Shareholders 351 522 853 168 408 743 705 420 372 471 1,967 Add: Depreciation 427 375 392 406 482 739 809 829 809 890 3,336 Add/(less): Deferred Taxes (92) 61 (4) (66) (146) 97 18 (745) (481) 103 (1,105) (Less): Dividend Received - - (51) - - - (20) - - - (20) Add/(less): One-offs - - - - - - - 65 - - 65 Cash PAT 686 958 1,190 507 744 1,579 1,512 570 699 1,464 4,244 Cash PAT (TTM) 3,237 3,452 3,462 3,341 3,399 4,019 4,341 4,471 4,359 4,244 4,244 Adjusted Net Worth* 15,501 20,972 21,553 21,504 20,746 21,378 22,031 22,413 23,781 31,336 31,336 Cash Returns on Net Worth (%) 21% 17% 16% 16% 16% 19% 20% 20% 18% 14% 14% Recent QIP leading to higher Networth; impacting Returns in Q1FY27 Healthy Cash Returns at 14% JSW Energy Q1 FY27 Results Presentation * Adjustment in net worth by excluding the value of shares of JSW Steel 17 Strategy 3.0: Growth Blueprint Vijayanagar, Karnataka Generation Capacity – 30 GW by 2030 Wind, 5,370MW, 17% Hydro, 1,781MW, 5% Capacity (MW) Strategy 3.0 Target: 30 GW by 2030 32,363 Merchant, ^ e Solar, 6,280MW, n 2,396MW 3,961 ile 19% p 32.4 GW * 28,402 iP 300 Locked-in Hybrid, 7,974MW, 25% 4,417 Group Captive/ C&I, 5,646MW 3,105 Utility Scale, 24,321MW 2,245 3,800 Thermal, 14,535 10,958MW, 34% 28,402 Hybrid, 1,696 Thermal, 5,658 Hydro, 1,781 13,567 MW Under construction PPA signed (excl. 600 MW Mahanadi) 14,535 MW W 3,1 in 2 d 5 , Installed Capacity t n e r r u C la m r e h T d n iW r a lo S d ir b y H -r e d n U n o itis iu q c a + d e lla t s n I - r e d n U n o it c u r ts n o C la to T g n id u lc n I ^ e n ile p iP Solar, 2,275 ^ Pipeline: Projects where LoA/LoI is received and PPA to be signed JSW Energy Q1 FY27 Results Presentation Installed capacity to reach 30 GW by 2030, at CAGR of 17% 19 Under-Construction and Pipeline Projects Under Construction : 13,567 MW Pipeline Projects^: 4,261 MW Thermal Assets Wind Assets Solar Assets Fixed cost ( ₹/ Project Installed (MW) Project Installed (MW) Project Installed (MW) Kwh) NTPC Solar III 400 SECI XII 300 Salboni 1 3.6 1,600 SECI XV (Solar +ESS) 500 SECI XVI 1,025 Salboni 2 4.06 1,600 Total Solar 900 C&I (Amazon) 182 Thermal- Wt. Tariff (₹5.6 / KWh) 3,200 Adani Energy - Wind I 250 JSW Mahanadi - 600 Hybrid Assets O2 Power 488 Total Thermal - 3,800 Total Wind- Wt.tariff (₹3.5 / KWh) 2,245 Project Installed (MW) SECI (Hybrid VIII) 330 Solar Assets SJVN (Hybrid - II) 330 NTPC (Hybrid VI) 330 Hybrid Assets Group Captive 250 Project Installed (MW) O2 Power 621 SJVN (Tranche I) 700 Project Installed (MW) Total Hybrid 1,861 SECI XIII 700 GUVNL (Phase 2) 234 GUVNL (Khavda) 17 MSEDCL (Hybrid III &IV) 1,600 NTPC Solar II 700 Thermal C&I 243 Pavagada (Karnataka) 150 C&I (Indus Tower) 130 FDRE IV 350 Project Installed (MW) KREDL (Solar + BESS) 100 Group Captive 1,062 JSW Mahanadi Thermal Optionality 1,200 Group Captive 72 O2 Power 928 O2 Power 536 Maruti Clean Coal & Power- Under Acquisition 300 Total Hybrid- Wt. tariff (₹3.7 / KWh) 4,417 Total Solar – Wt. Tariff (₹2.8 /KWh) 3,105 Total Thermal 1,500 ^ Pipeline: Projects where LoA/LoI is received and PPA to be signed JSW Energy Q1 FY27 Results Presentation 20 Firmly on Track to Deliver 3 GW Capacity Addition in FY27 3.0 GW ~1.1 GW 36% FY27 Guidance Achieved YTD Of Target Achieved ~1.1 GW ~1.9 GW 1.9 GW fully backed by secured land, connectivity and a diversified offtaker mix Diversified offtaker mix across utility, C&I and Connectivity In Place for 1.9 GW 99% of the Required Land in Possession Captive projects Acquisition Captive, 13% underway, 1% C&I Captive 99% 30% Projects 100% secured 28% CTU, 49% secured STU, 38% 1.9 GW Land Secured, 99% Captive Projects STU, 54% Captive, 46% Captive Projects Land Secured, 100% Utility 42% Utility Projects CTU, 74% STU, 26% Utility Projects Land Secured, 100% C&I Projects CTU, 60% STU, 40% C&I Projects Land Secured, 95% Execution certainty of 3 GW capacity addition in FY27 JSW Energy Q1 FY27 Results Presentation 21 Execution-Ready Thermal Growth Platform De-risked thermal expansion - backed by land, infrastructure, fuel access and advanced project readiness Salboni Phase I Mahanadi ACTIVE EXECUTION DE-RISKED EXPANSION 1,600 MW Greenfield — Under Active Execution 1,800 MW Under Construction • BOP In Place for all three units 1,600 MW • Entire Land Secured • 25-yr PPA (WBSEDCL) 600 MW: Target COD - FY28 1,200 MW: Target COD - FY29 Land Secured: Entire project land already in possession Ready Expansion Platform: Land, water, rail and transmission infrastructure ✓ ✓ already available for entire 3,600 MW platform Regulatory Milestone Achieved: Environmental Clearance received and ✓ construction commenced ✓ Environmental Clearance in place for entire 3,600 MW platform Equipment Order: Placed ✓ Brownfield Advantage: 600 MW unit already ~40% complete; BOP infrastructure ✓ in place for full all three units Construction Mobilized: Civil package awarded, advancing project execution ✓ Equipment Order: Placed for one unit (600 MW), discussion ongoing for balance ✓ 2 units ( 600 MW each) ✓ Fuel Framework : Domestic coal allocation under SHAKTI policy Evacuation Infra: Double circuit line under construction, common for remaining ✓ ✓ Evacuation Infra: In WBSEDCL Scope as per PSA 3x600 MW Thermal growth pipeline is fully execution-ready JSW Energy Q1 FY27 Results Presentation 22 Energy Storage – Target of 40 GWh by 2030; 29.6 GWh Locked-in BESS Projects PSP Projects BESPA BESS (GWh) Capacity Quoted Tariff SCOD Signed Tariff- PHESFA Pumped Hydro Storage(GWh) Capacity Lakh/MW SCOD ₹ 4.41 Signed SECI (Kerala) Yes 0.5 Dec-2026 / Annum Lakh/MW/Month Group Captive Yes 0.5 Various Sep-2026 MSEDCL Yes 12.0 ₹ 84.6 FY 2030 ₹2.24 RVUNL Yes 0.5 Dec-2026 Lakh/MW/Month UPPCL Yes 12.0 ₹ 77.2 FY 2031 KREDL (Solar + BESS) Yes 0.1 ₹ 4.31/KWh Jan-2027 FDRE Yes 0.1 ₹ 4.98/KWh Jul-2027 Total Pumped Hydro Storage: Total BESS: Under- 24.0 1.7 Under-construction construction SECI (Rajasthan) - 1.0 PCKL 2.4 SECI XV (Solar + BESS) - 0.5 Total Pumped Hydro Storage Inc. Pipeline 26.4 Total BESS incl. Pipeline 3.2 BESPA: Battery Energy Storage Purchase Agreement | PHESFA: Pumped Hydro Energy Storage Facility Agreement Projects yielding better than mid-teen returns in storage JSW Energy Q1 FY27 Results Presentation 23 Energy Storage – Pump Storage Project updates Tariff- Tariff- PHESFA Capacity PHESFA Capacity Pumped Hydro Storage(GWh) Lakh/MW/ SCOD Pumped Hydro Storage(GWh) Lakh/MW/ SCOD Signed (GWh) Signed (GWh) Annum Annum MSEDCL (1,500 MW) Yes 12.0 ₹ 84.6 FY 2030 UPPCL (1,500 MW) Yes 12.0 ₹ 77.2 FY 2031 Bhavali PSP (1,500 MW) Kandhuara PSP (1,680 MW) Civil Work and Construction Civil Work and Construction • Progressing, on track with completion of Phase I power supply • Award process for civil and electromechanical works is underway • Water supply infrastructure has achieved >55% progress; pontoon foundation works completed Environment and Forest Clearance Environment and Forest Clearance • Secured EAC recommendation for Environmental Clearance from • Formal EC approval letter received in June-2026 MoEF&CC • Forest Clearance- Stage-I approval received in Jun-2026 • Application for Forest clearance submitted Grid Connectivity Grid Connectivity • Grid connectivity milestone achieved with receipt of in- • Connectivity Application Submitted to UPPTCL – Under Process principle approval from MSETCL at 400 kV level 24 Safety & Sustainability Agrivoltaics at Vijayanagar Sustainability in every action — harmonizing farming with clean energy generation Solar Power Plant, Vijayanagar Sustainability: Framework and Policies 17 Focus Areas with 2030 Targets - from 2020 as Base Year Governance & Oversight by Sustainability Committee Climate Change Renewable Power Biodiversity Independent Directors Mr. Sunil Goyal ▪ Committed to being carbon Enhance the renewable power No Net Loss for Biodiversity Ms. Rupa Devi Singh neutral by 2050 to 2/3rd of our Total Installed Executive Director Mr. Sharad Mahendra Capacity ▪ Reduce our carbon emissions by ~50% ESG Ratings – best amongst peers Waste Water Waste Water Resources S & P Global (DJSI -ESG) : 82/100 Zero Liquid Discharge 100% Ash (Waste) utilization Reduce our water consumption per unit of energy produced TPI: Level 5 (highest rating) MSCI - “A” FTSE4Good Index constituent Operational Resources Social Local Indigenous Human Rights Health & Safety Sustainability Considerations People Carbon Neutrality by 2050 Committed to keep global warming to 1.5°C in line with Paris Agreement - UN Climate Change Supply Chain Employee Air Emissions Business Ethics Cultural Heritage Energy Conference Sustainability Wellbeing Integrated Reporting since FY19 FY 2026 Annual Report Aligned to National Annual Reports & International Frameworks ESG Data book ESG Data book JSW Energy Q1 FY27 Results Presentation 26 Sustainability: Targets and Strategy Sustainability: Targets and Strategy FY20 Improvement FY30 SD Targets Strategic Initiatives and Approach Actuals (FY20 to FY30) Targets • GHG Emissions • Increased share of RE for de-carbonization - Total RE operational capacity Climate Change 0.76 48% 0.39 tCO e / MWh increased from 7,110 MW in Q1 FY26 to 8,668 MW in Q1 FY27 2 • TCFD/IFRS S2 risk assessment completed for the Ratnagiri thermal power plant, with identified risk mitigation measures under implementation • Water neutrality risk assessment completed at the Vijayanagar plant, with water • Specific fresh efficiency initiatives currently being implemented. Water Security water intake 1.10 38% 0.68 (m3/MWh) • Dry robotic cleaning is implemented across most solar plants, saving nearly ~400 m³ of water daily • Zero Waste to landfill certification in progress for the hydropower plant at Sholtu. • Specific Waste Waste (Ash) Generation 0.070 40% 0.042 (t/MWh) • Sustainable waste management as per State Control Pollution Board guidelines • WasteRecycled implemented at all plant locations 100 - 100 – Ash(%) Specific process • Ensuring ESP (Electrostatic Precipitator) Fields availability for lower PM emissions AirEmissions emissions (Kg/MWh) • PM 0.16 60% 0.064 • Optimizing lime dozing system efficiency to reduce SOx emission • SOx 1.78 58% 0.75 • Boiler air and stack emissions monitoring in place to optimize efficiency • NOx 1.01 54% 0.46 • Aiming to achieve No Net Loss of biodiversity by 2030, a comprehensive • Biodiversity at Achieve Biodiversity Management Plan is being implemented across major operational Biodiversity our operating ‘no net loss’ of plants to support conservation and habitat enhancement. sites as per biodiversity baseline 2020 • ESIA studies are currently underway for renewable energy plants to assess and manage environmental and social impacts. JSW Energy Q1 FY27 Results Presentation 27 Sustainability: Q1 FY27 Performance Key Highlights Performance ▪ Supply Chain Sustainability Assessment for FY 2026-27 has been initiated in line with SEBI Ash Utilisation (%) requirements. Critical Tier-1 suppliers will be assessed on sustainability parameters to 100% 100% enhance ESG transparency, risk management and responsible sourcing. Climate Change ▪ Addition of more than ~1.1 GW of RE capacity till YTD 27 has contributed to overall reduced GHG emissions intensity ▪ Rainwater harvesting initiatives across major thermal, hydro and solar plants are Q1 FY27 FY27 contributing to reduced freshwater consumption and enhanced water sustainability Water Security Target ▪ Regular Recycling & Reuse of process water through Effluent Treatment Plants contributes significantly for optimization of water consumption. CO2 intensity (tCO2e/MWh) PM Emissions (kg/MWh) ▪ STP (Sewage Treatment Plants) at all major plants are significantly contributing to waste 0.57 0.55 0.087 0.075 water utilization in horticulture Waste ▪ Solid Waste disposal plant operationalized in Hydro-power plant at Sholtu, with compost produced from waste being utilized across gardening and orchard initiatives Q1 FY27 FY27 Target Q1 FY27 FY27 Target ▪ Real-time monitoring of boiler performance and stack emissions to drive operational efficiency and emission compliance SOx Emissions (kg/MWh) NOx Emissions (kg/MWh) Air Emissions ▪ Achieved 46% reduction in Particulate matters emissions from Apr 2020 baseline ▪ Achieved 29% reduction in NOx emissions from Apr 2020 baseline 0.72 0.75 1.75 1.60 ▪ Around 4,000 saplings of diverse native species have been planted across JSW Energy locations, supporting habitat restoration, enhancing biodiversity, and strengthening ecosystem resilience Biodiversity ▪ Environmental and Social Due Diligence (ESDD) and Environmental & Social Impact Q1 FY27 FY27 Target Q1 FY27 FY27 Target Assessment (ESIA) studies are underway across newly acquired renewable energy assets to strengthen environmental and social risk management. JSW Energy Q1 FY27 Results Presentation 28 Continued Focus on Health Safety Excellence ContinuedFocusonHealth&SafetyExcellence All Figures are for Q1 FY2027 Safety Culture in Action Safety Performance Leadership Safety Training Safety Week Celebrations at Thermal & MFG sites • LTIFR - 0.05 Contractor Safety Management • Integrated 100% of Contractor Field Safety Audits (CFSA) into the MySetu Safety platform across thermal operations, with implementation currently in progress across all (RE) sites • Contractor score card has been initiated at thermal sites to improve the safety performance • Enhanced safety performance through periodic HSE reviews of partner facilities and deployment of a robust HSE governance framework aligned with JSW Group standards • Improved contractor safety standards through the completion of 106 CFSA audits across project sites Comprehensive Worker Training Programs at Project Sites • 10+ sessions on Subject Matter Expert has been conducted at JSW Energy Vijayanagar,Halol & Barmer on critical safety standards, 220+ employees has been participated. • Monthly emergency rescue mock drill has been conducted across the thermal sites on various scenario’s i.e. Electrical safety, Height work, Chlorine leak and Fire evacuation etc. • Total 999 Trainings sessions covering topics like Subject Matter Expert (SME) – Management of Change (MOC) and site based critical work at Renewable sites implemented Emergency Response and Preparedness JSW Barmer and Mahanadi plant has been honored with 18th CII National • Hazardous Vehicle entry inspection system has been digitalized into VMS portal at Barmer site Awards and JSW Energy Ltd has been honored with the Golden Peacock Award • In collaboration with State Fire Services and NDRC, capability-building sessions were conducted to enhance emergency response readiness Benchmarking the Safety Culture of JSW Energy with Best Global • National Fire Safety Week celebrated across all JSW Energy Thermal, Manufacturing, and Organizations around the Globe Renewable Energy (RE) sites JSW Energy Q1 FY27 Results Presentation 29 Sustainability: Empowering Our Communities Sustainability: Empowering Our Communities Sustainability: Empowering Our Communities Skills and Livelihoods Health and Nutrition • Strengthened rural livelihoods in Ratnagiri through • Provided 3,472 health consultations at the URJA Clinic in Ratnagiri, agri-allied and dairy initiatives, with 8 trained organized eye screening camps across four villages benefiting 122 Gopalas providing veterinary services to local people, and supported healthcare infrastructure through medical farmers and 100+ farmers supplying ~1,000 litres equipment deployment at the Primary Health Centre in Bhadresh, of milk daily through two collection centres. Barmer • 5,688 health consultations done through Mobile Health Unit (MHU) in 20 villages of Tuticorin. • Continued support to 381 applique handicraft artisans in Barmer, promoting sustainable Water and Sanitation Initiatives livelihoods and preserving traditional • Improved rural water security by commissioning and handing craftsmanship. over a water supply scheme to the Group Gram Panchayat of Nandiwade, Ratnagiri, benefiting around 100 households. • Strengthened women empowerment and skill development through the formation of 8 Village • JSW Barmer continued to supply piped drinking water which Development Committees (VDCs) in Maniyachi and benefits about 4,000 community members vocational training at the CHARKHA Stitching Training Centre in Sholtu. Sports Promotion Education • Promoting grassroots sports development through four SHIKHAR Boxing Centres in Himachal Pradesh, providing structured boxing • Improving English language skills among 2,050 and fitness training to 90 aspiring athletes students across 14 government schools in Tuticorin through Language and Learning Programme Driving community well-being through focused efforts in health, livelihoods, water, sanitation, and infrastructure Our Core Principles Health & Water, Environment& Waste Agriculture and Skills& Art,Culture & Sports Education Nutrition Sanitation Management Allied Livelihoods Livelihoods Heritage Promotion JSW Energy Q1 FY27 Results Presentation 31 Growth Projects Operationalized Sholtu, Himachal Pradesh Tidong Hydro Commissioned Ahead of Schedule Hydro Capacity Addition Execution Excellence PPA Tied up for 75 MW • Commissioned 150 MW Tidong Hydro • COD achieved on 12th June ahead of • Long-term PPA with UPPCL for 75 MW Project on Tidong river in Sutlej basin, Oct'26 guidance, capitalizing ongoing (May–October) at ₹5.57/kWh Himachal Pradesh. hydro season, leading to incremental • Merchant optionality for the balance • Generating synergies with Karcham EBITDA capacity Wangtoo JSW Energy Q1 FY27 Results Presentation 33 Strengthening Backward Integration Capabilities Wind Blade Manufacturing Scale & Technology Competitive Advantage • Commissioned wind blade • Annual capacity of up to 450 blades • Strengthens supply chain security, and manufacturing plant at Halol, Gujarat, (~600 MW of wind projects); drives capex efficiencies, unlocking strengthening vertical integration across manufactures 82-metre blades better project IRRs for wind generation the wind energy value chain compatible with 4 MW WTGs projects • Sizeable addressable market, given the impetus on the wind JSW Energy Q1 FY27 Results Presentation 34 Battery Assembly Plant- Pune BESS Manufacturing Domestic Content Readiness BESS Order Book expansion • Secured first large external order for a • Well-positioned to comply with • Stabilized the 5 GWh battery container 200 MW/400 MWh BESS project in July potential domestic content assembly plant in Pune, strengthening 2027— a step forward in the Company's requirements for BESS through in-house in-house manufacturing capabilities strategic expansion in the energy storage manufacturing capabilities segment JSW Energy Q1 FY27 Results Presentation 35 ESG Data Profile JSW Energy ESG Data Profile Investor Relations Contact: ir.jswenergy@jsw.in Capacity and Off taker Details: Installed + Under construction Portfolio Capacity Addition Offtaker Profile (Installed + Under construction Portfolio) Total Thermal Renewables HR, 1% WB, 11% Capacity (MW) (A + B) (A) (B) Wind Solar Hybrid Hydro TN, 2% Others, 7% UP, 4% Installed Capacity 14,535 5,658 8,877 3,125 2,275 1,696 1,781 C&I, 5% Open, 4%, (1.1 GW) GJ, 3% Percentage 100% 39% 61% 21% 16% 12% 12% HP, 1% 28.1 GW Under Construction 12,567 3,800 9,767 2,245 3,105 4,417 - MH, 7% Group Captive, 15% (4.1 GW) Percentage 100% 28% 72% 17% 23% 33% - AP, 2% KA, 4% Installed + Under Construction Portfolio 28,102 9,458 18,644 5,370 5,380 6,113 1,781 TS, 2% NTPC, 4% SECI, 15% % 100% 34% 66% 19% 19% 22% 6% SJVN, 6% PTC, 4% RJ, 5% Total Thermal Renewables C&I (MW) Wind Solar Hybrid (A + B) (A) (B) C&I Portfolio Mix at Installed + Under construction Portfolio level Installed Capacity 3,650 1,683 1,967 230 230 1,508 Group Captive C&I 2,958 1,683 1,275 129 53 1,093 Third party C&I 692 - 692 101 177 415 Group Captive Under Construction Capacity 2,053 - 2,053 432 286 1,335 72% Group Captive C&I 1,134 - 1,134 - 72 1,062 5.7 GW Third Party C&I 919 - 919 432 214 273 Installed + Under Construction C&I 5,703 1,683 4,020 661 516 2,842 Third Party C&I 28% Group Captive C&I 4,092 1,683 2,409 129 125 2,155 Third Party C&I 1,611 - 1,611 532 391 687 JSW Energy Q1 FY27 Results Presentation *After inter-company adjustments and eliminations 37 Financial Results – Major Entities Entity-wise Revenue from Operations Particulars in ₹ Crore Q1 FY27 Q1 FY26 Standalone 1,101 916 JSW Energy (Barmer) 562 621 JSW Energy (Utkal) 516 604 Mahanadi 1,294 1,557 JSW Hydro Energy 250 339 O2 Power 480 244 Mytrah 431 473 JSW Renewable Energy (Vijayanagar) 189 124 JSW Renew Energy (SECI IX) 138 135 JSW Renew Energy Two (SECI X) 76 79 Kutehr 193 - JPTL 11 11 Consolidated* 5,207 5,143 Entity-wise EBITDA (Including Other Income) Particulars in ₹ Crore Q1 FY27 Q1 FY26 Standalone 500 443 JSW Energy (Barmer) 171 170 JSW Energy (Utkal) 227 264 Mahanadi 728 867 JSW Hydro Energy 235 315 O2 Power 308 219 Mytrah 387 519 JSW Renewable Energy (Vijayanagar) 176 118 JSW Renew Energy (SECI IX) 132 122 JSW Renew Energy Two (SECI X) 72 75 Kutehr 185 - JPTL 10 11 Consolidated* 3,103 3,057 JSW Energy Q1 FY27 Results Presentation *After inter-company adjustments and eliminations 38 Segment Wise Performance | Thermal Ratnagiri TPP, Maharashtra Barmer TPP, Rajasthan Vijayanagar TPP, Karnataka Utkal TPP, Odisha 5,658 MW 3,800 MW 1,500 MW 10,958 MW Installed Under-construction Pipeline + Under-acquisition Thermal Capacity JSW Energy Q1 FY27 Results Presentation 39 Thermal Assets | Q1 FY27 (1/2) Offtaker Profile Operational Assets (5,658* MW ) / Under-Construction, Pipeline & Acquisition (5,300 MW ) Others, 4% Open, 7% Under-construction UP, 21% 5,658 MH, 6% MW KA, 8% Group RJ, 21% Captive, 33% Ratnagiri (1,200 MW) Barmer (1,080 MW) Vijayanagar (860 MW) Utkal (700 MW) Mahanadi (3,600 MW) Salboni (3,200 MW) 1,200 MW 1,080 MW 860 MW 700 MW 1,800 MW - 2 PPAs of 1,600 MW Installed Capacity each with W.Bengal discoms Under-Construction / Pipeline - - - - 600 MW / 1,200 MW - COD in phases from FY30-FY32 PPA /Tied up 1,105 MW 1,080 MW 860 MW 639 MW^ 1,712 MW ^ Under-acquisition Fuel Type Imported Coal Lignite Imported Coal Domestic Coal Domestic Coal Maruti TPP (300 MW) LT 1,481 MUs (-9% YoY) 1,312 MUs (-6% YoY) 898 MUs (-33% YoY) 805 MUs 1,924 MUs (-23% YoY) - Broad EV of ₹1,410 Cr Net Generation - LT PPA with Rajasthan 0f 8,029 MUs discoms for 195 MW Total 1,911 MUs (-7% YoY) 1,312 MUs (-6% YoY) 1,363 MUs (-5% YoY) 864 MUs (1% YoY) 2,559 MUs (-7%) (net), 5% offtake to Chattisgarh State at LT 68%/(92%) 64%/(78%) 53%/(110%) 91%/(66%) 55%/(78%) Variable cost; 64 MW PLF/(Deemed PLF) merchant exposure - Est FY26 EBITDA: ₹ Total 79% 64% 79% 61% 70% 279 Cr JSW Energy Q1 FY27 Results Presentation #Salboni 3,200 MW under construction Project *Including 18 MW TPP at Nandyal ;^Factoring in 7.5% Auxiliary Consumption & power at Variable cost to state 40 Thermal Assets| Q1 FY27 (2/2) Net Generation (MUs) Thermal : PLF – long term Operational Highlights • Total Net Generation down 6% YoY to 8.0 -6% 8,504 8,029 BUs, impacted by lower generation from 100% 84% Short Term 79% Mahanadi and Ratnagiri plants 63% Long Term • 81%, 6,874 80%, 6,441 Short Term generation de-grew 3% YoY to Total 1.6 BUs, primarily driven by shift to LT tie-up PLF Deemed PLF in Utkal Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 • Long Term generation decreased 6% YoY in Segmental Revenue from Operations (₹ Cr) EBITDA excl. Other Income (₹ Cr) the quarter Financial Highlights -5% 3,622 -11% 3,453 1,569 • 1,392 Total operating thermal revenue at ₹ 3,453 Cr, down 5% YoY • EBITDA excluding other income declined 11% to ₹ 1,392 Cr Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Thermal Generation impacted YoY due to one-off at Mahanadi JSW Energy Q1 FY27 Results Presentation 41 Operational Performance – Thermal Net Generation (MUs) PLF (%) Location (Current Capacity) Capacity (%) Q1 FY27 Q1 FY26 Change YoY Q1 FY27 Q1 FY26 LT 92% 1,481 1,630 -9% 68 (*92) 74 (*91) Ratnagiri (1,200 MW) Total 100% 1,911 2,061 -7% 79 86 Barmer (1,080 MW) LT 100% 1,312 1,390 -6% 64 (*78) 70 (*78) LT 100% 898 1,340 -33% 53 (*110) 100 (*100) Vijayanagar (860 MW) Total 100% 1,363 1,430 -5% 79 82 LT 95% 1,924 2,488 -23% 55 (*78) 72 (*98) KSK Mahanadi (1,800 MW) Total 100% 2,559 2,743 -7% 70 75 LT 100% 805 - NA 99 (*66) NA Utkal (700 MW) Total 100% 864 855 1% 61 61 Nandyal (18 MW) LT 100% 20 25 -18% 59 (*100) 71 (*100) LT 85% 6,441 6,874 -7% 63 79 Total Thermal (5,658 MW) Total 100% 8,029 8,504 -6% 71 76 JSW Energy Q1 FY27 Results Presentation LT : Long Term; ST: Short Term, NM : Not meaningful, * denotes Deemed PLF 42 Figures rounded off to nearest units digit Segment Wise Performance | Renewables Tuticorin, TN Jaisalmer, Rajasthan Vijayanagar , Karnataka Kutehr, Himachal Pradesh 8,877 MW 9,767 MW 2,761 MW 21,405 MW Installed Under-construction Pipeline Renewable Capacity JSW Energy Q1 FY27 Results Presentation Renewable Assets | Q1 FY27 (1/2) Off taker Profile Total Wind – 5,370 MW Hydro-1,781MW Solar–5,380 MW HHyybbrirdid––5,62,41123M MWW 18,644 MW Operational 3,125 MW Operational 1,781 MW Operational 2,275 MW Operational 1,696 MW Others, Open, HR, 3% 13% 3% UP, 1% Group C&I, 8% Captive, 14% GJ, 5% 8,877 MW HP, 3% MH, 2% SECI, Operational* Total Capacity | Operational Total Capacity | Operational Total Capacity | Operational Total Capacity | Operational AP, 5% 8,877MW 20% AcquiredWind2,251 | 1,762 KarchamWangtoo1,091|1,091 AcquiredSolar2,325|1,789 Acquired Hybrid 1,435 | 507 KA, 4% TS, 5% * As on 8th July SECIX 454 | 454 Baspa300|300 Barmer Group Captive 5 | 5 Group Captive 2,155 | 1,093 PTC, RJ, 3% C&I 339|96 11% SECIIX 810 | 810 Kutehr 240 | 240 Vijayanagar Floating 20 | 20 Group Captive99|99 Tidong 150 Others28|28 Group Captive: 1,275 MW (14%) GUVNL 300 | 283 Pavagada 300 | 150 Under Total Capacity | Under construction Total Capacity | Under construction Total Capacity | Under construction Construction Acquired Wind 2,251 | 488 Acquired Solar 2,325| 536 Group Captive 1,926 | 1,062 9,767MW SECI Projects 2,589 | 1,325 SJVN700 |700 MSEDCL 1,600 | 1,600 Adani Energy 250 | 250 SECIXIII700|700 Acquired Hybrid 1,435 | 928 C&I 182 | 182 NTPC700|700 FDRE IV 350 | 350 GUVNL300|17 C&I 339 | 243 Pavagada300|150 GUVNL 234|234 KREDL (Solar + BESS) 100 | 100 GroupCaptive/C&I202| 202 LT 2,220 MUs (3% YoY) 1,385 MUs (-23% YoY) 1,197 MUs (29% YoY) Included in wind & solar NetGeneration Total 2,220 MUs (3% YoY) 1,423 MUs (-26% YoY) 1,197 MUs (29% YoY) LT 27% 42% 21% PLF (%) Total 27% 40% 21% JSW Energy Q1 FY27 Results Presentation All under construction projects are tied-up under long-term PPA 44 Renewable Assets |Q1 FY27 (2/2) Installed Green Capacity (MW) Net Generation (MUs) Capacity Addition • 8,668 Capacity addition reached 1,081 MW till 7,110 4,990 July 8th (Q1FY27: +873 MW); 1,558 MW 4,840 of RE capacity commissioned in the 12- Short Term months ending Jun’26 period (98%) (99%) Long Term 4,878 4,802 Operational Highlights Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 • Net RE generation during Q1 FY27 declined by 3% YoY due to softer hydro PLF amid subdued hydrology Segmental Revenue from Operations1 (₹ Cr) EBITDA excl. Other Income1 (₹ Cr) +17% 1,740 Financial Highlights +23% 1,492 1,485 • Total operating RE revenue increased 1,212 17% YoY to ₹ 1,740 Cr driven by contribution from both organic capacity additions and O2 Power RE portfolio • Operating EBITDA in Q1 FY27 was up Q1 FY26 Q1 FY27 23% YoY to ₹ 1,485 Cr Q1 FY26 Q1 FY27 RE Capacity Expansion Drive EBITDA Growth JSW Energy Q1 FY27 Results Presentation 1 Includes consolidation adjustments 45 Operational Performance – Renewables Net Generation (MUs) PLF/CUF (%) Location (Current Capacity) Capacity (%) Q1 FY27 Q1 FY26 Change YoY Q1 FY27 Q1 FY26 LT 93% 1,385 1,799 -23% 42 64 Hydro (1,781 MW)* Total 100% 1,423 1,911 -26% 40 66 Solar (2,728 MW) ** LT 100% 1,197 925 29% 21 21 Wind (4,160 MW) ** LT 100% 2,220 2,154 3% 27 30 LT 99% 4,802 4,878 -2% NA NA Total Renewables (8,668 MW) Total 100% 4,840 4,990 -3% NA NA LT : Long Term; ST: Short Term, Figures rounded off to nearest units digit. *Includes generation from hybrid capacities JSW Energy Q1 FY27 Results Presentation 46 JSWHEL- Karcham Wangtoo & Baspa| Q1 FY27 Net Generation (MUs) PAF & PLF Operational Highlights • Weaker hydrology impacted hydro 102% 100% 1,911 generation; output down 45% YoY to Short Term 66% Q1 FY26 1,059 MUs 1,059 94% Long Term 36% Q1 FY27 1,799 100% Total • Plant Availability maintained at 100% 1,059 during Q1 FY27; continues to receive Q1 FY26 Q1 FY27 PAF PLF capacity charges Segmental Revenue from Operations EBITDA (₹ Cr) Financial Highlights -25% -26% 315 • JSW Hydro’s revenue and EBITDA declined 339 235 26% and 25% to ₹250 Cr and ₹235 Cr, 250 respectively, driven by weaker hydrology, which impacted generation and sales volumes Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 • Hydrology impact to be viewed as Hydrology Weighed on Generation; Asset Availability Remained Strong transient; Capacity charge remain secure JSW Energy Q1 FY27 Results Presentation 47