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 23rd January, 2024 SEC / JSWEL 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 and nine months ended 31st December, 2023 Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sirs, Further to our letter dated 23rd January, 2024, please find attached the Results Presentation in connection with the unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended 31st December, 2023. Yours faithfully, For JSW Energy Limited Monica Chopra Company Secretary Part of O. P. Jindal Group Q3 FY24 Results Presentation January 23, 2024 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 specificobjectives,financialsituationsorinformationalneedsofanyparticularperson.Thispresentationshouldnotbeconstruedaslegal,tax,investmentorotheradvice.Thispresentationis strictlyconfidential,beinggivensolelyforyourinformationandforyouruse,andmaynotbecopied,distributedordisseminated,directlyorindirectly,inanymanner.Furthermore,nopersonis 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,ifgivenormade,shouldnotberelieduponashavingbeenauthorizedbyoronbehalfoftheCompany. 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JSW Energy Q3 FY24 Results Presentation 2 Agenda Q3 FY24 Highlights Operational & Financial Performance Segment Wise Performance Safety & Sustainability Business Environment Appendix JSW Energy Q3 FY24 Results Presentation Vijayanagar 225MW Solar Power Plant 3 Q3 FY24 Highlights (1/2) • Overall Net Generation: Up by 43% YoY at 6.1 BUs driven by higher thermal generation (both long term and short term volumes), contribution from acquired* and greenfield RE capacity additions • Total Renewable generation is up by 71% YoY at 1.4 BUs while total thermal generation is up by 37% YoY at Operational 4.7 BUs Performance • Net Long Term Generation: Up by 25% YoY driven by higher generation at Ratnagiri and RE capacity additions Generation (MUs) Q3 FY24 9M FY24 Thermal Thermal Solar/Wind Solar/Wind Outperformance Outperformance Up 43% YoY Up 28% YoY ** ** JSW Energy Q3 FY24 Results Presentation * Acquired RE portfolio represents 1,753 MW renewable capacity acquired from Mytrah Energy ** Hydro Capacity charges to be recouped uptothe design energy 4 Q3 FY24 Highlights (2/2) • EBITDA of ₹1,229 Cr surged 69% YoY resulting in PAT of ₹231 Cr up 29% YoY; Cash PAT stood at ₹628 Cr • Receivables (excl. acquired RE portfolio) on DSO basis stood at 69 days; healthy collection trend sustained Consolidated • Best in class Balance Sheet: Net Debt to Equity at 1.3x, Net Debt to EBITDA1 at 4.6x, Net Debt to EBITDA1 (excl. Financial CWIP) at 3.2x. Performance • Cash & Cash Equivalents2 at ₹2,867 Cr • Thermal: Ind-Barath (700 MW) revival progressing well; Unit-1 (350 MW) successfully synchronised on 13th Jan 24 in record time, marking fastest turnaround of a stalled thermal power plant • Hydro: Kutehr HEP (240 MW) Tunneling work completed and Barrage concreting ~86% completed • Wind: Progressive commissioning of the company’s largest standalone wind project SECI IX (810 MW) Growth Projects commenced with CoD received for 51 MW • Acquired RE Portfolio (1,753 MW): Net Generation up 16% YoY resulting in EBITDA of ₹201 Cr (9M FY24 at ₹1,132 Cr) JSW Energy Q3 FY24 Results Presentation 1. ProformaTTM EBITDA 2. Includes unencumbered bank balances, FDs, and liquid mutual funds 5 Ind-Barath 700 MW - Commissioned Unit 1 (350MW) Location Unit 1 Turbine Generator set Fastest turnaround of a stalled thermal power project JSW Energy Q3 FY24 Results Presentation 6 Operational & Financial Performance SholtuHydro Power Plant - Turbine Consolidated Performance Net Generation (MUs) Total Revenue (₹ Cr) Operational Highlights • Overall Net Generation: Up by 43% YoY at 6.1 28% 13% 12% 43% BUs driven by higher thermal generation, 21,464 2,661 9,062 6,128 2,350 8,061 contribution from acquired* RE portfolio and 16,799 greenfield RE capacity additions 4,274 Short Term FY23 89% • Renewable generation is up by 71% YoY at 1.4 86% 93% FY24 98% 19,010 Long Term 5,241 15,637 BUs while thermal generation is up by 37% YoY at 4,179 4.7 BUs Q3 FY23 Q3 FY24 9M FY23 9M FY24 Q3 9M • Net Long Term Generation: Up by 25% YoY driven by higher generation at Ratnagiri and RE capacity EBITDA (₹ Cr) and Margins (%) Cash Profit After Tax* (₹ Cr) additions 28% 69% 55% 29% Financial Highlights 1,229 4,545 628 2,551 • Total Revenue during the quarter increased 13% 489 1,983 YoY to ₹2,661 Cr and EBITDA at ₹1,229 Cr was up 2,936 727 FY23 FY23 69% YoY driven by incremental contribution from FY24 FY24 renewable portfolio and strong thermal 46% 36% 50% performance, largely driven by a buoyant 31% merchant market. Q3 9M Q3 9M • PAT increased by 29% YoY at ₹231 Cr while Cash Strong EBITDA and Cashflow generation from Long-term portfolio PAT increased 28% YoY to ₹628 Cr JSW Energy Q3 FY24 Results Presentation * Computed as PAT+ Depreciation+ Deferred Taxes +/(-) Exceptional items for operational assets 8 EBITDA Bridge Q3 FY24 Particularsin ₹ Cr Utilising Open Capacity Solar/Wind 9M FY24 Particularsin ₹ Cr Utilising Solar/Wind Open Capacity JSW Energy Q3 FY24 Results Presentation 9 Consolidated Financial Results 9M FY24 9M FY23 Particulars in ₹ Crore Q3 FY24 Q3 FY23 9,062 8,061 Total Revenue 2,661 2,350 4,545 2,936 EBITDA 1,229 727 50% 36% EBITDA Margin(%) 46% 31% 1,207 878 Depreciation 400 295 1520 611 Finance Cost 521 214 1,818 1,567 Profit Before Tax 309 218 1,371 1,206 Profit After Tax 231 180 1 2,551 1,983 Cash Profit After Tax 628 489 2 8.34 7.33 Diluted EPS (₹) 1.41 1.09 JSW Energy Q3 FY24 Results Presentation 1 Computed as PAT+ Depreciation+ Deferred Taxes (-) Dividend received + Exceptional items; 2-Not Annualized 10 Net Debt Movement Particularsin ₹ Cr Capital Work- in-Progress (CWIP) Operational Projects 4 1,095 2,580 113 424 26,286 24,260 7,890 5,850 18,410 18,396 ND/EBITDA# (excl. CWIP) at 3.2x Net Debt as on New Debt Taken Forex restatement Repayment Movement in short Change in Cash Net Debt as on Sep 30,2023 term borrowings & Cash Eq.* Dec 31,2023 Sustainable ND/EBITDA is within the guided range of 3.5x-4.0x JSW Energy Q3 FY24 Results Presentation * Includes unencumbered bank balances, FDs, and liquid mutual funds. # ND/ProformaEBITDA excluding debt on under-construction projects 11 Progress on Strategy 2.0 2.21 Generation Capacity (GW) 20.00 1.80 6.20 2.6 GW under construction 0.24 0.30 9.79 0.73 0.35 0.22 0.76 7.19 4.56 18% CAGR 38% CAGR MoUs with JSW Steel FY21 Current Ind-Barath SECI X SECI IX Group Kutehr SECI XII Operational Generation RE for Projects 2030 Operational Wind Wind Captive Wind by CY24 Hydrogen to bid Target Wind Energy Storage (GWh) ProgressiveCommissioning -Unit2 in Commissioning Sept 2024 March 2025 Q4 FY24 CoD CoD From Q4 232 MW 51MW FY24 79.5 PPA - 25 Years 25 Years 25 Years 35 Years 25 Years LoA/LoI received 40.0 1.0 2.4 3.7 Haryana Offtaker Open SECI SECI JSW Steel SECI Discom SECI PCKL MoU with 2030 Target Resources Total:₹ 19,360 Cr | Committed: ₹17,534 Cr | Spent: ₹13,584 Cr JSW Steel tied up with Capital Expenditure ~₹2,200 Cr (Including 225 MW Solar Operational) States JSW Energy Q3 FY24 Results Presentation 12 Superior Financial Risk Profile Net Debt (₹ Cr) Net Worth (₹ Cr)* & Cash Returns (%) 24,260 26,286 18,392 18,629 19,111 19,877 20,976 22,180 22,904 17,593 21% 20% 20% 20% 18% 18% 7,874 9,840 13,491 13,446 14,177 14,061 14,859 15,336 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Adjusted Net Worth ** Net Worth (₹ Cr) Cash Return on Adj. Net Worth (%) Leverage Ratios Wt. Average Cost of Debt ND/TTM Proforma EBITDA # 4.4 4.7 4.6 4.6 ND/EBITDA 1 Year MCLR up by 105 bps ND/Equity 3.7 3.8 3.5 3.2 Wt. Avg. Cost up by 64 bps AverageCost up by 22 bps in 9M FY24 2.3 1.8 8.68% 8.58% 8.51% 1.2 1.2 1.3 1.2 8.36% 8.29% 0.5 0.5 7.94% Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Robust balance sheet & best-in-class financial metrics * Net Worth is impacted by change in value of listed equity investments through Other Comprehensive Income ** Adjusted for value ofinvestments (net of taxes) JSW Energy Q3 FY24 Results Presentation # ND/ProformaEBITDA excluding debt on under-construction projects 13 Healthy Trade Receivables Trade Receivables* (₹ Cr ) Operational Highlights • Receivables (excl. acquired RE Portfolio) increased by 14% 14% YoY on back of increased revenue, however receivables in 1,857 DSOterms was stable YoY at 69 days 1,628 • All plants placed favourably in States’ Merit Order Dispatch. o Further, Hydro plants under ‘Must-run status’ with no scheduling risk • No history of any bad debts from routine long term trade receivables • Payment security mechanism in force for power tied under Dec 31, 2022 Dec 31, 2023 long term PPA with discoms • Recovery of late payment surcharge in case of delayed Receivable Days ** 69 69 payments fromdiscoms JSW Energy Q3 FY24 Results Presentation *Includes Unbilled Revenue. Excluding receivables related to acquired RE Portfolio which are reported separately 14 Segment Wise Performance Vijayanagar Thermal Power Plant-Control Room Thermal Assets| Q3 FY24 Highlights (1/2) Overview Offtaker Profile Operational Assets Rajasthan , 28% Total Thermal Open, Capacity 34% 3,858 MW 3,858* MW Group MSDECL, Captive, 8% Ratnagiri Barmer Vijayanagar Ind - Barath 30% Operational Installed Capacity 1,200 MW 1,080 MW 860 MW 700 MW Unit 1 (350 MW) operational Capacity PPA tied 1,100MW 1,080 MW 338 MW Merchant 3,508* MW Imported Coal Lignite Imported Coal Domestic Coal Fuel Type Net Generation LT 1,682 MUs (52% YoY) 1,564 MUs (-3% YoY) 568 MUs (-13% YoY) Located in coal belt Under (MUs) Total 2,062 MUs (82% YoY) 1,564 MUs (-3% YoY) 1,076 MUs (50% YoY) Easy access to water Construction Ind-Barath LT 76%/(93%) 74%/(77%) 89%/(90%) PLF/ Unit 1 – Synchronised 350 MW (Deemed PLF) Total 85%/(100%) 74%/(77%) 61%/(62%) Unit 2 – Q4 FY24 (Unit-2) ~72% of Installed Thermal Capacity Tied-up under Long-Term PPA JSW Energy Q3 FY24 Results Presentation *Including 18 MW TPP at Nandyal; Ind-BarathUnit-1 (350 MW) was commissioned post the quarter end 16 Thermal Assets| Q3 FY24 Highlights (2/2) Net Generation (MUs) Thermal : PLF – long term Operational Highlights • 37% 19% Total Net Generation +37% YoY at 4.7 BUs, 90% 4,729 86% 83% 85% 13,438 77% 74% supported by strong ST volumes, higher LT 68% 69% 11,337 3,458 generation at Ratnagiri, partly offset by lower Short LT generation at Vijayanagar plant Term 98% 81% 90% 82% • Short Termgenerationat 888 Mus in Q3FY24 3,372 3,841 10,260 11,066 Long Term • Long Term generation was up 14% YoY in the PLF Deemed PLF PLF Deemed PLF quarter. LT PLF remains healthy at 77% Q3 FY23 Q3 FY24 9M FY23 9M FY24 Q3 FY23 Q3 FY24 9M FY23 9M FY24 Financial Highlights SegmentalRevenue from Operations1(₹ Cr) EBITDA Excl. Other Income (₹ Cr) and Margins(%) • Total operating thermal revenue at ₹1,951 Cr 6% 2% 28% increased by 2% YoY driven by higher volumes 97% 6,261 5,857 1,796 partly offset by lower realization on account of 1,909 1,951 684 1,401 lower fuel cost (which is pass through in 348 nature) • EBITDA increased to ₹ 684 Cr driven by higher 18% 34% 22% 30% merchant volumes and LT contribution from Q3 FY23 Q3 FY24 9M FY23 9M FY24 Q3 FY23 Q3 FY24 9M FY23 9M FY24 Ratnagiri JSW Energy Q3 FY24 Results Presentation 1 Thermal Assets exclude JPTL 17 Renewable Assets | Presence across all modes of generation Total 5,934 MW Offtaker Profile Operational Assets – 3,681 MW Under Construction – 2,253 MW Expected to be operational by CY 2024 HYDRO WIND WIND 3,628 MW Haryana, Open Capacity, 2% Raj, 4% 4% 61% SECI, HP, 5% 31% Wind AP, SOLAR 6% HYDRO 5,934 Telangana 7% MW 1,631 MW -Karcham -Acquired RE Others, -SECI IX (759) Wangtoo (1,091) Wind (1,331) 27% 8% -SECI X (221) PTC, -Baspa (300) -Captive JSW Hydro 17% -SECI X (232) Group Captive, -Vijayanagar Steel (733) -SECI IX (51) 17% Captive (225) -SECI XII (300) -Acquired RE -Kutehr(240) Solar (422) -Others (28) Net Generation LT 634 MUs 465MUs 300MUs 675 MW (Mus) 634MUs 465 MUs 300 MUs Total 11% Solar Capacity MW 1,391 MW 1,615 MW 675 MW 240 MW 2,013 MW % share in RE % 23.4% 27.2% 11.4% 4.0% 34% All under construction projects are tied-up with long term PPA 18 Renewable Assets |Q3 FY24 Highlights Installed Green Capacity (MW) Net Generation (MUs) Operational Highlights 2.2x 71% 47% 3,681 • Net generation increased 71% YoY to 1,399 8,026 1.4 BUs driven by capacity additions and contribution from Acquired RE Short Term 816 5,462 1,653 100% portfolio; party offset by lower 99% Long Term 1,399 99% 98% 7,944 generation at Hydro powerplants 807 5,377 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 9M FY23 9M FY24 Financial Highlights Segmental Revenue from Operations1(₹ Cr) EBITDA Excl. Other Income1(₹ Cr) • Total operating RE revenue increased 93% 119% 73% 122% 93% YoY to ₹545 Cr driven by Acquired 2,336 545 2,709 RE portfolioand greenfield RE assets Solar/Wind 389 228 Solar/Wind 197 78 • Operating EBITDA at ₹389 Cr was up 68 1,280 *1*,081 Acquired RE 74% YoY. Acquired RE portfolio 282 254 Acquired RE 224 1,236 161 1,053 Portfolio 35 92 Portfolio 17 37 contributed ₹201 Cr (incl other Hydro Hydro 246 211 1,142 1,199 206 1,014 1,056 income) in the quarter 159 Q3 FY23 Q3 FY24 9M FY23 9M FY24 Q3 FY23 Q3 FY24 9M FY23 9M FY24 1Includes consolidation adjustments JSW Energy Q3 FY24 Results Presentation For additional details refer appendix section 19 Safety & Sustainability JSW Energy, Barmer Continued Focus on Health & Safety Excellence All Figures are for Q3 FY24 Awards & Zero severe injuries/fatalities for all operational plants Recognitions LTIFR = 0.125 including under-construction projects; 1 Fatality at Sandurunder- construction Wind project 88% of contractors covered by JSW CARES audit 21 Contractors(34%) achieved 5 Star rating & 44 contractors(73%) achieved 3 Star and above in a stringent Internal Safety Assessment 59,100+ Cumulative Safety Observations Resolved upto Q3 FY24 Influencing ‘positive safety behavior’ of our workforce by reporting smallest of the safety considerations thereby avoiding any major / minor incident GWO (Global Wind Organization) Training for WTG project Teams  74% of Target Employees, have completed GWO training  79% of Target Contractor & Associate employees have completed GWO training  100% Employee GWO training by March’24 and Contractor Training by April’24  Behavior Based Safety Training completed for Target employees-at 3/4 WTG locations Enhancing Safety for Employees, Contractors & Community  BHM High Risks in progress across all major plants –Barmer, Vijayanagar, Ratnagiri& Hydro Plants. Expected completion in H1 FY25  Hydro Sholtu–Internal Gap Audit / training completed for BSC 5 STAR in Oct’23. Safety documentation & systems enhancements underway for preparation of BSC Audit JSW Energy Q3 FY24 Results Presentation 21 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: Committed to being carbon Enhance the renewable power No Net Loss for Biodiversity 2 Independent Mr. Sunil Goyal to 2/3rd of our Total Installed neutral by 2050 Directors Capacity Ms. Rupa Devi Singh Reduce our carbon emissions by more than 50% 1 Executive Mr. Prashant Jain Director Waste Water: Waste: Water Resources: 100% Ash (Waste) utilization Reduce our water consumption Zero Liquid Discharge ESG Ratings – best amongst peers per unit of energy produced by 50% CDP* : A-(Leadership Level) Sustainalytics:23.9 (Medium Risk) Operational Resources Social Local Indigenous Human Rights S & P Global ( DJSI) : 71/100 Health & Safety Sustainability Considerations People FTSE4Good Index constituent Carbon Neutrality by 2050 Supply Chain Employee Committed to set Sustainability Wellbeing Air Emissions Business Ethics Cultural Heritage Energy science based targets to keep global warming to 1.5°C under SBTi Aligned to Integrated Reporting since FY19 National & International Frameworks FY19 FY20 FY21 FY22 FY23 *based on CDP climate change rating 2022. CDP water security rating 2022 is B (Management). ESG Data book JSW Energy Q3 FY24 Results Presentation CDP Supplier Engagement rating 2022 is A (Leadership) 22 Sustainability: Targets and Strategy FY20 FY30 SD Targets Improvement Strategic Initiatives and Approach Actuals Targets  TCFD –Identified associated short tem , medium term and Long term risks  Supply Chain Sustainability –development of Digital Platform is in progress for value  GHG Emissions Climate 0.76 0.215 * 60% chain partners. tCO e/ MWh Change 2  Increased share of renewable energy for decarbonization–Total capacity added till Q3 FY24 –3,681 MW  Maintaing zero liquid discharge across operations  Optimising utilisation of rain water harvesting system Water  Specific fresh water 1.10 0.591 46%  Installation of technology for operating cooling towers with higher Cycles of Security intake (m3/MWh) Concentration with modified chemical regime  Reuse of treated effluent of Sewage Treatment Plan for horticulture  Integrated Strategy towards efficient waste management –Ash Management , recycling  Specific Waste (Ash) of waste water , handling hazardous waste through authorized recycler. 0.070 0.032 54% Waste Generation (t/MWh)  Utilisationof low ash coal in Ratnagiri and Vijayanagar  Waste Recycled -Ash 100 100 -  Re-utilisationof pond ash as well as Bottom ash in Boiler (%)  45000 MT Capacity Ash Silo constructed in Ratnagitito export the Fly Ash through sea route to the prospective buyers in the International Markets. Specific process  Ensuring ESP (Electrostatic Precipitator) Fields availability emissions(Kg/MWh) Air 0.16 0.053 67%  PM  Optimising Lime dozing system efficiency Emissions 1.78 0.683 61%  SOx  NOx 1.01 0.373 63%  Process efficiency improvements  Implementation of Bodiversity Assessment plan at our operating plants in a  Biodiversity at our Achieve phasewise manner to achieve No Net Loss of Biodiversity by 2030. Biodiversity - ‘no net loss’ operating sites  Increased green cover across operations of biodiversity  Implementation of Biodiversity Management plan at Barmer Plant . JSW Energy Q3 FY24 Results Presentation * Aligned with SBTi 23 Sustainability: Q3 FY24 Performance Key Highlights Performance • Increased share of renewable energy for deep decarbonisation Ash Utilisation(%) Climate • Wind Projects – Tuticorin – generation started and commissioned 232.2 Change MW till Q3 FY 24. 100% 100% 100% 100% • Continuous focus on process improvements to reduce GHG emission • Maintained zero liquid discharge across operations • Optimizing utilization of rainwater harvesting system. 44,866m3 water utilized by WWaatteerr FY22 FY23 FY24 9M FY24 Ratnagiri Plant by this method SSeeccuurriittyy Target • Reuse of treated effluent of Sewage Treatment Plant for horticulture • 2,27,665 m3 of water recycled and utilizing for process at Vijayanagar CO2 intensity (tCO2e/MWh) PM Emissions (kg/MWh) 0.68 0.68 • Reutilisingpond ash as well as bottom ash in Boiler. 0.140 0.60 0.59 0.122 0.110 0.103 WWaassttee • Continue 100% Ash utilization initiatives at all plants through tie-ups with cement factories & similar businesses • Over 19,200 MT Fly ash exported by RatnagiriPlant FY22 FY23 FY24 9M FY24 FY22 FY23 FY24 9M FY24 • Ensuring ESP (Electrostatic Precipitator) Fields availability Target Target AAiirr • Process efficiency improvements being done in all plant locations EEmmiissssiioonnss • Lime Dozing system availability and parameters optimization at Barmerto SOx Emissions (kg/MWh) NOx Emissions (kg/MWh) reduced air emissions 1.55 0.81 • In Q 3 FY24 2,271saplings of various native species plantedaround the 1.25 0.69 0.65 0.54 1.15 1.03 operational boundaries of Plants. Mango plantation of 7,800 trees out of 10,000 Biodiversi planned completed at Ratnagiri Plant. Biodiversity ty • Biodiversity Assessment –Phase 2 is in process for Ratnagiri Plant FY22 FY23 FY24 9M FY24 FY22 FY23 FY24 9M FY24 • Increase in green cover at all operations to achieve ‘No Net Loss’ of Biodiversity by Target Target 2030. JSW Energy Q3 FY24 Results Presentation FY 2024 Targets include generation from Ind-BarathThermal Power Plant for part of the year 24 Sustainability: Empowering Our Communities Sholtu, ShikharInitiative JSW Energy Q3 FY24 Results Presentation 25 Sustainability: Empowering Our Communities Health and Nutrition Education • Doorstep healthcare services provided • Science laboratory renovated at the through medical health units (MHUs) and government school in Dharapuram health camps • Education infrastructure(government • 40,000+ consultations carried out through schools and anganwdis) strengthened and MHUs and health camps provision of quality education improved, reaching 5,000+ students Skills and Livelihoods Sports Promotion • 900+ Artisans mobilized, trained and • High altitude boxing training imparted to 95 handheld for livelihood initiatives, sportspersons, supported by 5 coaches across 4 especially in handicrafts training centres under Project Shikhar. Around • 2 milk collection centres established and 408 national and international level medals won. about 1,100 litres of milk collected and • Support given to develop sports infrastructure sold per day at Ratnagiri and sports kits provided in schools, reaching out to 3,500+ students Community Development Disaster Relief • Community infrastructure developed • Relief materials, including rice packets, including construction of community hall, groceries and blankets provided to 2,000+ sanitation block, installation of solar street flood affected people in Tuticorin lights and community wells • Disaster relief efforts undertaken by 53 • 20,000+ people benefited through community employee volunteers infrastructure development initiatives in Sholtu Health & Nutrition Water & Waste Agri-livelihoods Education Women’s BPO & Skill Enhancement Art, Culture & Sports Environment Management Livelihoods Heritage JSW Energy Q3 FY24 Results Presentation 26 Awards and Recognition JSW Energy Limited, Vijayanagar Plant Vijayanagar Received Green Received British received CEE Best Maple Foundation Safety Council Sword Energy Efficient Wellness at work of Honor at London Award for CPP-4 unit Diamond Award in in Nov 23 in Dec 23 Nov 23 “Platinum Award in the Power generation sector for outstanding RatnagiriPlant achievement in received 23 rd “Horticulture Occupational Health and Greentech Development safety” Environment Organized by award-2023 for Award” Sustainability Environment Organized by Development Excellence at Green Maple Foundation Sonmarg-J & K . Foundation 27 Investor Relations Contact: ir.jswenergy@jsw.in ESG Data Profile: Link JSW Energy, Ratnagiri 28 Indian Economy Real GDP Growth (%) 20.1 13.1 8.4 7.8 7.6 3.2 2.8 2.5 5.4 4.0 6.2 4.5 6.1 • Indian economy continues to see resilient growth amid slow 0.7 global recovery and growingregional divergences o Real GDP continues to be robust with 7.6% YoY growth -6.6 forSep-23 quarter -23.8 o PMI: Manufacturing (Dec-23: 54.9) and Services (Dec- 23: 59.0) PMI continue to be encouraging 9 0 0 0 0 1 1 1 1 2 2 2 2 3 3 3 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 - - - - - - - - - - - - - - - - c e r a n u p e c e r a n u p e c e r a n u p e c e r a n u p e o GST revenue collection at ₹1.65 trillion in Dec-23, up D M J S D M J S D M J S D M J S 10% YoY and 12% YTD GST Collection (₹ Lakh Cr) PMI – Manufacturing & Services • Indian Retail Inflation o CPI rebounded to a four month high of 5.7% in Dec-23 2.0 65 from the lows of Oct-23; within the RBI’s tolerance 1.8 60 mark 55 1.6 o RBI keeps the repo rate unchanged at 6.50%; the key 50 1.4 rate has been raised by 250 bps since May-22 45 1.2 40 1.0 PMI Manufacturing PMI Service 35 0.8 0 1 1 1 1 2 2 2 2 3 3 3 3 0 2 0 2 0 2 1 2 1 2 1 2 1 2 2 2 2 2 2 2 2 2 3 2 3 2 3 2 3 2 2 - c 2 - r 2 - n 2 - p 2 - c 2 - r 2 - n 2 - p 2 - c 2 - r 2 - n 2 - p 2 - c - n u - p e - c e - r a - n u - p e - c e - r a - n u - p e - c e - r a - n u - p e - c e 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 J S D M J S D M J S D M J S D IMF projects India’s GDP growth at 6.3% for 2024 JSW Energy Q3 FY24 Results Presentation Source: Reserve Bank of India (RBI), Monetary Policy Committee (MPC), WBG, Press Information Bureau India 30 India’s installed capacity 428 GW as of Dec -23 Sector-wise Installed Capacity Segment-wise Installed Capacity Renewable Capacity Breakdown 134 16 7 47 24% 25% State Other RES 45 Thermal Wind 428 GW Private Nuclear 428 GW 134 Solar Hydro 240 73 Central Renewables 51% Overall segment wise net capacity additions (GW) Renewable Capacity Additions (excl. Hydro) GW 17.3 16.6 15.5 15.3 0.5 0.1 0.4 0.2 12.2 12.0 0.5 0.1 0.7 8.7 15.5 15.3 7.4 7.4 12.8 0.1 8.7 13.9 0.4 6.5 5.5 4.1 2.8 1.4 1.2 1.6 1.1 2.3 2.1 FY 2021 FY 2022 FY 2023 YTD 2024 FY 2021 FY 2022 FY 2023 YTD 2024 Thermal Renewables Hydro Nuclear Total Wind Solar Other RES Total RES JSW Energy Q3 FY24 Results Presentation Source: Central Electricity Authority (CEA) 31 Power Demand increased by 10% YoY in Q3 FY24 Power Demand Growth (% YoY) Power Demand in BUs 155 30% 145 • Pan India demand during Q3 FY24 20% 135 increased by 10% YoY to 382 Bus (up 8% 10% 125 115 0% for 9M FY24) due to surge in economic 105 -10% activities 95 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar r p A y a M n u J lu J g u A p e S t c O v o N c e D n a J b e F r a M • Demand in South increased by 18% YoY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 followedby West, up by 10% YoY FY 2024 FY 2023 FY 2022 FY 2024 FY 2023 • Total demand met during the quarter Power Demand by Region in BU stood at 381 Bus, up by 10% YoY (and 8% 1,224 382 for9M FY24) 1,138 347 165 47 156 45 East & NE • The peak demand in this quarter of 223 307 100 268 85 South GW was witnessed during October month West 351 383 129 117 North India 364 369 100 106 YTD 2023 YTD 2024 Q3 FY2023 Q3 FY2024 • Source: Central Electricity Authority (CEA) 32 Overall Generation Increased by 9% YoY in Q3 FY24 Power Generation in BUs Thermal PLF 175 70% 155 • Overall generation in Q3 FY24 stood at 60% 135 410 Bus, an increase of 9% YoY 50% 115 • Share of thermal in overall generation 95 40% stood at 80% (vs 76% YoY) with net 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 generation of 326 BUs up 14% YoY FY 2024 FY 2023 FY 2022 FY 2024 FY 2023 FY 2022 resulting in PLFs of 67% Power Generation by Source • Generation from large hydro declined by 30% YoY in quarter and 17% YTD; while 1,308 410 1,224 377 Others generation from renewables increased by 13% 13% 11% 11% 6% YoY supported by 21% growth in wind 11% 9% 9% 6% Renewables generation Hydro 73% 75% 76% 80% Thermal India YTD 2023 YTD 2024 Q3 FY2023 Q3 FY2024 • Source: Central Electricity Authority (CEA), National Power Portal 33 Merchant Power – Day Ahead Market Monthly Average Merchant Tariff (₹/unit) Linear Trend -Monthly Avg Price (₹/kwh) 11.0 12 9.0 10 7.0 8 • Day Ahead Market (DAM) prices averaged at 5.0 6 ₹5/unit during Q3 FY24 and increased by 3.0 4 10% YoY 1.0 2 9 1 3 5 7 9 1 3 • The cleared volume in DAM market at 14.7 r p A y a M n u J lu J g u A p e S t c O v o N c e D n a J b e F r a M 0 - c e 1 - c e 1 - c e 1 - c e 1 - c e 1 - c e 2 - c e 2 - c e D D D D D D D D BUs was up by 2% YoY in Q3 FY24 and up 4% FY 2024 FY 2023 FY 2022 YTD DAM Market Cleared Volume (MUs) Total Cleared Volume (MUs) • Total cleared volume on IEX stood at 26.3 7500 9500 Bus, up20% YoYin Q2FY24 andup 20% YTD 6500 8500 5500 7500 4500 6500 3500 2500 5500 r p A y a M n u J lu J g u A p e S t c O v o N c e D n a J b e F r a M r p A y a M n u J lu J g u A p e S t c O v o N c e D n a J b e F r a M FY 2024 FY 2023 FY 2022 FY 2024 FY 2023 FY 2022 Source: Indian Energy Exchange (Day-Ahead Market); *Cleared Total Volume includes DAM, TAM and RTM for conventional power 34 Appendix Acquired RE portfolio Solar Plant (Hungund, Karnataka) Operational Performance – Net Generation Net Generation (MUs) Capacity Q3 FY24 Q3 FY23 Change YoY 9M FY24 9M FY23 Change YoY Location (Current Capacity) % % % LT 91% 1,682 1,110 52% 4,822 3,617 33% Ratnagiri (1,200 MW) Total 100% 2,062 1,133 82% 5,753 3,961 45% Barmer (1,080 MW) LT 100% 1,564 1,609 -3% 4,575 4,814 -5% LT 36% 568 652 -13% 1,607 1,818 -12% Vijayanagar (860 MW) Total 100% 1,076 716 50% 3,049 2,552 19% Nandyal (18 MW) LT 100% 27 1 NM 62 10 NM LT 79% 3,841 3,372 14% 11,066 10,260 8% Total Thermal (3,158 MW) Total 100% 4,729 3,458 37% 13,438 11,337 19% LT 97% 634 712 -11% 4,462 5,107 -13% Hydro (1,345 MW)* Total 100% 634 721 -12% 4,544 5,192 -12% Solar (253 MW) LT 100% 124 89 39% 397 264 51% Wind (284 MW)** Total 100% 134 6 NM 360 6 NM Acquired RE - Wind (1,331 MW)*** Total 100% 330 NA NA 2,167 NA NA Acquired RE - Solar (422 MW) Total 100% 176 NA NA 557 NA NA LT 90% 5,241 4,179 25% 19,010 15,637 22% TOTAL Total 100% 6,128 4,274 43% 21,464 16,799 28% *Includes free power to HPSEB ** Generation from SECI X progressive commissioning started in Dec-22 *** On Proformabasis as 2 SPVs were consolidated during Q1 FY24 JSW Energy Q3 FY24 Results Presentation LT : Long Term. NM : Not meaningful Figures rounded off to nearest units digit 36 Operational Performance – PLF PLF/CUF Capacity Q3 FY24 Q3 FY23 9M FY24 9M FY23 Location (Current Capacity) % % % % % LT 91% 76 (*93) 51 (*98) 74 (*93) 56 (*83) Ratnagiri (1,200 MW) Total 100% 85 (*100) 47 (*88) 79 (*97) 55 (*79) Barmer (1,080 MW) LT 100% 74 (*77) 75 (*77) 72 (*75) 75 (*78) LT 36% 89 (*90) 104 (*104) 85 (*89) 98 (*98) Vijayanagar (860 MW) Total 100% 61 (*62) 41 (*41) 58 (*60) 49 (*49) Nandyal (18 MW) LT 100% 76 (*97) 2 (*97) 58 (*99) 10 (*97) LT 79% 77 (*86) 68 (*90) 74 (*85) 69 (*83) Total Thermal (3,158 MW) Total 100% 74 (*82) 55 (*72) 71 (*80) 60 (*71) LT 97% 22 25 52 60 Hydro (1,345 MW) Total 100% 22 24 52 59 Solar (253 MW) LT 100% 22 18 24 19 Wind (284 MW) Total 100% 28 30 30 30 Acquired RE - Wind (1,331 MW) Total 100% 12 NA 25 NA Acquired RE - Solar (422 MW) Total 100% 19 NA 20 NA LT : Long Term; ST: Short Term * denotes Deemed PLF JSW Energy Q3 FY24 Results Presentation 37 Entity-wise Financial Results Entity-wise Revenue from Operations Particulars in ₹ Crore Q3 FY24 Q3 FY23 9M FY24 9M FY23 Standalone 1,276 955 3,893 4,093 JSW Energy (Barmer) 705 994 2,071 2,277 JSW Hydro Energy 211 246 1,199 1,142 Acquired RE Portfolio 254 NA 1,280 NA JSW Renewable Energy (Vijayanagar) 39 30 129 90 JSW Renew Energy Two (SECI X) 35 1 91 1 JPTL 17 17 52 52 Consolidated* 2,543 2,248 8,730 7,662 Entity-wise EBITDA (Including Other Income) Particulars in ₹ Crore Q3 FY24 Q3 FY23 9M FY24 9M FY23 Standalone 529 250 1,407 1,096 JSW Energy (Barmer) 225 220 655 664 JSW Hydro Energy 197 209 1,168 1,036 Acquired RE Portfolio 201 NA 1,132 NA JSW Renewable Energy (Vijayanagar) 35 23 118 63 JSW Renew Energy Two (SECI X) 34 1 88 0 JPTL 17 19 53 52 Consolidated* 1,229 727 4,545 2,936 JSW Energy Q3 FY24 Results Presentation * After inter-company adjustments and eliminations 38 Cash Returns on Adjusted Net Worth ₹ Cr (Unless mentioned otherwise) Quarterended Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Reported PAT 864 560 466 180 272 290 850 231 Add: Depreciation 277 289 294 295 291 398 409 400 Add/(less): Deferred Taxes (7) 84 42 14 24 55 89 (4) (Less): Dividend Received - - (122) - - - (24) - Add/(less): One-offs* (492) (120) 0 - - - (144) - Cash PAT 643 813 681 489 587 743 1,180 628 Cash PAT (TTM) 2,395 2,697 2,767 2,625 2,570 2,500 2,999 3,138 Adjusted Net Worth** 12,688 12,952 13,491 13,446 14,177 14,061 14,859 15,336 Cash Returns on Net Worth (%) 19% 21% 21% 20% 18% 18% 20% 20% Strong cash returns of >20% translates to TTM cash profits of >₹3,000 Cr *Refer note 5 of Q4FY22 release for Mar-22 one-offs. Jun-22: Exceptional items ₹ 120 Cr represents reversal of loss allowance made in earlier years on loan given to a party; ₹144 Cr for Sep-23 represents after-tax effects of Hydro True-up JSW Energy Q3 FY24 Results Presentation ** Adjustment in net worth by excluding the value of shares of JSW Steel 39 Finance Cost & PAT Movement Finance Cost (YoY; ₹ Cr) Q2 FY24: ₹514 Cr Profit After Tax (YoY; ₹ Cr) JSW Energy Q3 FY24 Results Presentation 40 Developed a Pan India Footprint of Diverse Asset Base Operational Capacity by CY 24 (9,792 MW) Punjab Wind Hydro Himachal Pradesh 50 MW 1,631 MW Solar BESS Rajasthan Thermal PSP Madhya Pradesh 258 MW Green Hydrogen 30 MW 1,080 MW 1,000 MWh Gujarat Odisha 78 MW 700 MW Telangana Maharashtra Andhra Pradesh 447 MW 101 MW 365 MW 327 MW 1,200 MW 18 MW Karnataka 10 MW 695 MW Tamil Nadu 860 MW 2,400 MWh 1,654MW 3,800 TPA 278 MW • Map of India representation –scaling may not be accurate 41 JSW Energy – Presence across the value chain Well placed to achieve 10 GW of generation capacity ahead of stated timeline of 2025 with foray into New Age Businesses Power Generation Energy Storage Energy Products & Services 9.8 GW Installed Capacity by CY24 3.4 GWh of locked in capacity Solar Module & Green H2 RE 5.9 GW Thermal 3.9 GW e g a r o t S g n e n e l a m r e h T r a o r d y H d n i W e g a r o t S y r e p m u P o r d y H l u d o M r a l o i r u t c a f u n a m g o r d y H n e e s e v i t a v i r e D l o S t t S r G & a B 3.9 GW 0.7 GW 1.6 GW 3.6 GW 39% 7% 17% 37% 1.0 GWh 2.4 GWh 1.0 GW 3,800 TPA 42 Well Diversified Portfolio – Focused on Maximising Cash Returns Capacity Breakdown Diversified Offtakers Current open Open Capacity, Group Generation 9,792 MW capacity –10% 14% Captive, 22% Installed 7,189 MW Under-construction Others, 7% 30% 2,603 MW Current Exposure to Thermal 3,508 MW* HP, 3% Group Captive - Wind 1,615 MW 20% 9,792 MW 9,792 MW Wind 2,013 MW Hydro 1,391 MW Maharashtra, 4% Thermal 350 MW* Solar 675 MW Hydro 240 MW AP, 4% SECI, 19% 70% Telangana, 4% Commissioned by CY24 Rajasthan, PTC, 10% 14% Storage 3.4 GWh locked in Open Capacity 12% BESS 29% 1.0 GWh SECI Hydro PSP 3.4 GWh 71% 2.4 GWh 18% 3.4 GWh PCKL 70% * Ind-BarathUnit-1 (350 MW) was JSW Energy Q2 FY24 Results Presentation commissioned post the quarter end 43 Company Overview JSW Energy – Broad Structure Ratnagiri – 1,200 MW JSW Energy Limited Vijayanagar – 860 MW HydroEntities Nandyal – 18 MW 9,792 MW Solar/Wind Entities Solar – 10MW Products &Services Total – 2,088 MW JSW Neo Energy * JSWEBL – 1,080 MW 5,924 MW Ind-Barath – 700 MW Energy Generation Portfolio JSW Renewable Energy JSW Hydro Energy JSW Renew Energy JSW Renew Energy JSW Renewable Energy JSW Renew Energy JSW Energy (Kutehr) (Vijayanagar) Acquired RE portfolio Limited (1,391 MW) Limited Two Limited (Dolvi) Limited Three Limited Limited (240 MW) Limited (1,753 MW -Acquired) ( Karcham & Baspa ) (810 MW SECI-IX) (454 MW SECI-X) (95 MW Captive) SECI XII 300 MW (863 MW Captive) Products & Services PSP Advanced high Green Hydrogen BESS–SECI Pilot • LoI for 2.4 GWh efficiency solar (3,800 TPA) & Its (500MW/1000MWh) • MOUs signed for module(Awarded Derivatives 80 GWh capacity under PLI) Vijayanagar Solar Power Plant * Corporate structure post Acquisition and restructuring. Includes18 MW of operational solar power plant for JSW group captive. 44 All subsidiaries shown are wholly owned subsidiaries except RECPP JSW Neo - Pan India Footprint of Diverse Asset Base Operational Capacity by CY 24 (5,924 MW) Punjab Himachal Pradesh 50 MW 1,631 MW Wind Hydro Rajasthan Madhya Pradesh Solar BESS 30 MW 1,000 258 MW MWh Green H2 PSP Gujarat 78 MW Telangana Maharashtra 101 MW Andhra Pradesh 447 MW 327 MW 365 MW 10 MW Karnataka Tamil Nadu 695 MW 1,654MW 278 MW 2,400 MWh 3,800 TPA Map of India representation – scaling may not be accurate 45 JSW Neo – Presence across the value chain Well placed to achieve 10 GW of generation capacity ahead of stated timeline of 2025 with foray into New Age Businesses JSW NEO - Assets Power Generation Energy Storage Energy Products & Services Captive Solar, 243 Kutehr HEP, 240 SECI XII Wind, 300 Solar Modules 3.4 GWh Mytrah 5.9 GW Wind, 1,331 & Green H Installed Capacity by CY24 locked in capacity 2 Baspa HEP, 300 Mytrah 5,924 MW Solar, 422 SECI X Wind, Karcham 454 Wangtoo HEP, 1,091 Group Captive Wind, 733 SECI IX Wind, 810 JSW NEO – PPA Profile e g a Open Capacity, 2% r Raj, 4% Haryana, 4% o t S e g n n e HP, 5% SECI, 31% r a o r d y H d n i W e g a r o t S y r e p m u P o r d y H l u d o M r a l o i r u t c a f u n a m g o r d y H n e e s e v i t a v i r e D Tela A 7 n P % g , a 6 n % a, 5,924 MW l o S t t S r G & a Others, 8% B 0.7 GW 1.6 GW 3.6 GW PTC, 17% Group 11% 28% 61% 1.0 GWh 2.4 GWh 1.0 GW 3,800 TPA Captive, 16% 46 JSW Neo – Multiple Growth Drivers Generation (GW) 8.0 MoUwith JSW Steel 0.3 5.9 0.7 0.2 0.8 3.7 0.2 5.9 Current SECI - X SECI- IX Group Kutehr SECI- XII Operational Operational Captive by CY24 Wind Energy Products & Services Green Hydrogen H • Contracted 3,800 TPA 2 with JSW Steel 79.5 • MoUwith JSW Steel LoA/LoI received 85k-90k TPA 40.0 1.0 2.4 3.7 PV module SECI PCKL MoU with 2030 Target Resources (W-C-M) JSW Steel tied up with 1 GW States SJESCWiX E-Tnuetricgoyr iQn3 FY24 Results Presentation 47 JSW Neo - Acquired RE Portfolio Net Generation (MUs) PLF Wind Solar 2,724 507 2,386 435 557 176 513 OperationalHighlights 164 Solar • Net generation increased 16% YoY Wind 2,167 driven by 22% increase in wind 1,873 330 271 generation Q3 FY23 Q3 FY24 9M FY23 9M FY24 FinancialHighlights Segmental Revenue from Operations (₹ Cr) EBITDA (₹ Cr) • During the quarter revenue of ₹ 254 Cr resulted in EBITDA of ₹ 201 Cr 1,132 1,280 201 • For 9M FY24 the revenue and 254 reported EBITDA stands at ₹ 1,280 Cr and ₹ 1,132 Cr respectively 9M FY24 Q3 FY24 Q3 FY24 9M FY24 JSW Energy Q3 FY24 Results Presentation * 9M FY24 generation is on proformabasis, Q3 FY23 & 9M FY23 numbers are unaudited 48 Acquired RE - Progress on track Wind Generation (MUs) Wind Machine Availability (%) 3 97% 96% 330 +XXXbps +XXXbps +801 bps +1031 bps 271 73 1 4 12 88% 86% 75 MUs increased due to focused interventions Q3 FY23 MA Benefit GA Loss Maniyachi Cyclone Wind Q3 FY24 Site Machaung impact Q3 FY23 Q3 FY24 9M FY23 9M FY24 restoration Solar Generation (MUs) Solar Plant Availability (%) 99.42% 176 99.15% 2 10 97.94% 164 96.76% Q3 FY23 Performance GII Gain Q3 FY24 Ratio gain Q3 FY23 Q3 FY24 9M FY23 9M FY24 JSW Energy Q3 FY24 Results Presentation Q3 FY23 & 9M FY23 numbers are unaudited 49 Receivables Cycle Improving Strong collection in Acquired RE Portfolio’s Receivables* Particulars in ₹ Cr 1,859 31% YoY improvement 1,532 1,279 Dec-22 Sep-23 Dec-23 Focused O&M Interventions leading to strong billing/collection growth 158% Operating efficiency 145% reflecting in strong 97% generation and billing growth Continued focus on collection efficiency supports further reduction in the Q1 FY24 Q2 FY24 Q3 FY24 receivables Billing (Indexed to 100) Collection Including LPS Optimise Receivables Cycle to Healthy Levels within 12 months JAScWqu iErende RrEg yW Qin3d F(CYh2a4k lRaeMsauhlatsra Pshretrsae)ntation * Receivables of acquired RE assets pre-provisioning of ₹879 Cr upon acquisition 50 JSW Neo - Hydro Q3 FY24 Highlights Net Generation (MUs) Hydro : PAF and PLF 12% 12% OperationalHighlights 5,192 107% 104% 721 4,544 • Net generation at Hydro Assets 634 106% Short 99% Term 59% (Karcham and Baspa) down due to 98% 52% 98% 99% 100% 5,10 4,46 Long lowerwater flow 712 634 7 Term 24% 22% 2 • Plant availability factor at 99% remains significantly above the PAF PLF PAF PLF Q3 FY23 Q3 FY24 9M FY23 9M FY24 Q3 FY23 Q3 FY24 9M FY23 9M FY24 normative PAF Segmental Revenue from Operations (₹ Cr) EBITDA (₹ Cr) FinancialHighlights • Revenue was down 14% YoY to ₹211 6% 13% 14% 5% 209 Cr on the back of lower generation 1,168 resulting in EBITDA of ₹197 Cr down 1,199 246 1,142 211 6% YoY. 197 1,036 Q3 FY23 Q3 FY24 9M FY23 9M FY24 Q3 FY23 Q3 FY24 9M FY23 9M FY24 JSW Energy Q3 FY24 Results Presentation Hydro Assets include: Karcham-Wangtoo and Baspa. 51 Under Construction Projects Acquired RE Solar Plant (Hungund, Karnataka) JSW Energy Q3 FY24 Results Presentation 52 JSW Neo- Wind Power Projects – 2.3 GW Wind Projects (SECI IX,X, XII and Group Captive)  SECI IX (810MW) : 51 MW Commisioned  SECI X (450 MW) : 232 MW Commisioned  Approx 2 GW is under construction and to be commissioned by CY24 JSW Energy Q3 FY24 Results Presentation 53 JSW Neo - Kutehr Hydro Power Plant – 240 MW Barrage & Intake Tunneling & Concreting Power-House works • Barrage concreting completed 86%  Completed tunneling work ~100% • Power house civil works completed for • Erection of spillway radial gate in  Completed HRT lining ~25% Unit-1 & Unit-2 • Erection of draft tube liners, spiral advanced stages casing and stay ring complete in all the three units JSW Energy Q3 FY24 Results Presentation 54 JSW Energy - Ind-Barath Unit 2 (350 MW) Revival works in Progress JSW Energy Q3 FY24 Results Presentation 55