JSW is a growth]oriented company with a target of achieving a steel]making capacity of 50mtpa in India by FY 2031 and is excited about the opportunities that lie beyond. The Company believes that India presents a multi]decadal opportunity for growth, and wants to ensure that it is well positioned to capitalise on this opportunity. The present transaction is aimed at securing the Companyfs growth in a financially prudent manner to enable it to pursue its aspirations across business cycles.

JSW acquired BPSL in 2021 through an IBC process and then turned it around successfully. What was a 2.75 mtpa sick unit now stands proud as a profitable company with an enhanced capacity of 4.5 mtpa, employing 25,000 people. Through this transaction, the Company will monetise part of its holding in BPSL, in order to accelerate the growth of JSW. While doing so, the Company will bring in JFE, a trusted, long]term strategic partner that will bring in technological expertise, and along with JSW Steelfs capability of project execution and operational excellence, will create further value for the joint venture. JSW shall continue to remain invested in, and will participate in the future value creation in the joint venture.

The Company firmly believes that the cash proceeds it receives from the transaction will strengthen its balance sheet even further and provide a clear runway for growth that will create significant value for its stakeholders.