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Annual General Meeting 2026 Jio Financial Services Limited August 26, 2026 Hitesh Sethia Managing Director & Chief Executive Officer
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Safe Harbor 2 This presentationcontainsforward-lookingstatementswhich may be identifiedby their use of words like “plans,”“expects,”“will,”“anticipates,”“believes,”“intends,”“projects,”“estimates”or otherwordsof similar meaning. Allstatementsthataddressexpectationsorprojectionsaboutthefuture,including,butnotlimitedto, statementsaboutthestrategyforgrowth,productdevelopment,marketposition,expenditures,andfinancial results,areforward-lookingstatements. Forward-looking statementsare based on certain assumptionsand expectationsof future events. The companiesreferredto in this presentationcannotguaranteethat theseassumptionsand expectationsare accurateor willbe realised. Theactualresults,performanceor achievements,couldthusdiffermateriallyfrom thoseprojectedin anysuchforward-lookingstatements. Thesecompaniesassumeno responsibilityto publicly amend,modifyor reviseany forward-lookingstatements,on the basis of any subsequentdevelopments, informationorevents,orotherwise.
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Favourable macroeconomic tailwinds 3 Robust Fundamentals… …Driving strong growth in Financial Services in India 7.7% in FY26 vs. global growth of 3.5% GDP Growth 2.1% in FY26 from 4.6% in FY25 Retail Inflation Reduced by 100bps to 5.25% during FY26 Repo Rate USD 707 bn as of August 07, 2026 FX Reserves 45.5% of GDP vs. EME^ average of 55.1% in September 2025 Rs. 156.6 lakh crore* Total Household Debt 21% of GDP in FY26 vs. global average of 74% in 2025 Rs. 73.7 lakh crore Mutual Fund AUM Penetration rate of 3.8% in FY26 vs. global penetration rate of 7.2% in 2025 Rs. 13.3 lakh crore Total Insurance Premium UPI emerged as the world’s largest real-time payment system Rs. 314 lakh crore UPI Transaction Value Source: Government of India Press Information Bureau, International Monetary Fund, The Reserve Bank of India, RBI Financial Stability Report June 2026, AMFI Annual Report 2026, IRDAI Annual Report 2025, NPCI, Investment Company Institute (http://www.ici.org, Document link), Allianz Global Insurance Report 2026 (link) *Based on trailing 12-month nominal GDP, ^EME Emerging Market Economies comprising Thailand, Malaysia, China, Chile, Brazil, South Africa
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Transitioned from foundation-laying to operating at meaningful scale Focused & disciplined execution… 4 Strong momentum across verticals with focus on governance & quality Innovative, industry-first products (incl. Neural Agentic Marketplace) setting benchmarks for financial services in India AI and tech-led systematic optimization of costs driving unit economics at scale Investment decisions calibrated to each business’ stage of maturity and risk-adjusted return potential Operational Excellence Product Innovation Operating Leverage Prudent Capital Allocation Rs. 30,000 Cr+ NBFC AUM* Rs. 18,000 Cr+ AMC AUM* ~34,000 Daily purchases on marketplace 6.0%** p.a. Savings Pro yields ~Rs. 2,900 Cr^ Equity invested in subsidiaries & JVs in FY26 *NBFC and AMC AUM as of Q1 FY27; **Based on average 3-year annualised return of overnight mutual funds in India. Actual returns may vary; ^includes amount paid to SBI for acquisition of remaining stake in Jio Payments Bank Limited 56% AI/ML-led customer conversion on app 76% Lower TAT for credit assessment by JCL
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Total assets of USD 3.4 tn serving more than 35 countries and/ or jurisdictions with over two centuries of industry experience … while bringing the best to India via marquee partnerships 5 Managing over USD 15 tn in AUM across over 40 markets helping millions invest with a track record of nearly 40 years 135+ years of experience, active in ~70 countries & serving ~97 mn customers*, total business volume of EUR 186.9 bn in 2025 Asset Management, Wealth Management & Broking Reinsurance, General & Health Insurance, and Life Insurance** Lending^ *Private and corporate customers; as of December 31, 2025; consolidated entities in the customer reporting scope, **Signed non-binding agreement for proposed Life Insurance JV, ^Subject to regulatory and statutory approvals JFSL emerges as preferred partner for pedigreed global financial institutions looking to tap India growth story
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175 10,074 25,622 FY24 FY25 FY26 0 9 23 FY24^^ FY25 FY26 FY26: Firing on all cylinders… *Includes Current Account, Savings Account and Wallets, **Total Payment Value, ^ Launched in June 2025, ^^ JioFinance app was launched on May 30, 2024 NBFC Gross AUM Payments Bank Deposits* Payment Solutions TPV** Insurance Premium Facilitated AMC Closing AUM^ Unique users across all digital properties 2.5x 88 295 544 FY24 FY25 FY26 12,660 21,404 52,226 FY24 FY25 FY26 2.4x 911 895 982 FY24 FY25 FY26 10% 0 0 15,218 FY24^ FY25^ FY26 in Rs. Cr in Rs. Cr in Rs. Cr in Rs. Cr in Rs. Cr mn 6 1.8x 2.6x
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… Leading to sustained growth momentum… • Bank of America (BofA) entered into a JV agreement with JFSL for up to 49.9% in Jio Credit Limited (JCL) in August 2026 * • JCL total disbursements of ~Rs. 30,000 Cr in FY26 • Among the lowest cost of borrowing of 7.12% in FY26 BORROW • Asset management company (AMC) launched 14 mutual fund schemes, 1 ETF and 1 SIF since June 2025 • Wealth management launched personalised investment advice & wealth check-up powered by Aladdin® INVEST • Jio Payments Bank Limited launched Savings Pro, begins tolling operations, including Multi-Lane Free Flow • Jio Payment Solutions Limited launched cross -border collection services for Indian exporters TRANSACT • Reinsurance JV commenced operations in March 2026 • Incorporated 50:50 JV to offer general insurance & health insurance in India • Non-binding agreement for JV to offer life insurance in India signed in July 2025 PROTECT INVEST Digital-first, world-class investment solutions JVs with BlackRock Asset management Wealth management Securities broking BORROW Suite of retail and corporate lending products Jio Credit Limited (JCL) TRANSACT Powering seamless digital payments for individuals and merchants PROTECT Insurance for individuals and institutions Jio Payments Bank Limited (JPBL) Jio Payment Solutions Limited (JPSL) Jio Insurance Broking Limited (JIBL) JVs with Allianz for Reinsurance, General and Life* Jio Finance Platform and Services Limited (JFPSL) JioFinance App: A Neural Agentic Marketplace for hyper -personalised services offering loans, credit cards, fixed deposits, insurance, digital gold and more DIGITAL STOREFRONT 7 *Subject to regulatory and statutory approvals
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1,605 1,613 1,561 FY24 FY25 FY26 …While investing in scaling growth, incubating new ventures 1,638 1,838 3,274 FY24 FY25 FY26 Consolidated Total Income (ex-dividend) Consolidated PPOP* (ex-dividend) Consolidated PAT in Rs. Cr in Rs. Cr in Rs. Cr 1,313 1,353 1,357 FY24 FY25 FY26 *Pre-provision operating profit Rs. 1.34 lakh crore Total Shareholders’ Equity as of March 31, 2026 Rs. 0.60 Dividend recommended by Board of Directors per equity share of face value of Rs. 10 each for FY26 8
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… backed by structural moats A full-stack financial ecosystem… INVEST Digital-first, world-class investment solutions JVs with BlackRock Asset management Wealth management Securities broking BORROW Suite of retail and corporate lending products Jio Credit Limited (JCL) TRANSACT Powering seamless digital payments for individuals and merchants PROTECT Insurance for individuals and institutions Jio Payments Bank Limited (JPBL) Jio Payment Solutions Limited (JPSL) Jio Insurance Broking Limited (JIBL) JVs with Allianz for Reinsurance, General and Life* Jio Finance Platform and Services Limited (JFPSL) Growth phase Incubation Phase *Signed non-binding agreement for Life Insurance Brand Strength Strong Capital Base Cost Engineering at Scale Late Entrant Advantage Zero Tech-Debt 9
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Layer 1: Proprietary Suite of Products Layer 2: Marketplace Aggregation Products: Fixed Deposits, Jio Gold, Tax Filing, Credit Cards, Personal Loans, Life and General Insurance Layer 3: The Core Pivot Borrow HL, LAP, LAMF, LAS, LAETF Invest AMC, WMC, Savings Pro, Broking* Transact UPI, CASA, Biometric Payments Protect Reinsurance, General* and Life Insurance* Continued acceleration of our own comprehensive product suite Growing third-party offerings driven by demand and risk appetite Proactive hyper-personalisation of relevant offerings to customers *to be launched Customer-first approach AI-Native & Conversational N=1 hyper-personalised interface Product: Comprehensive suite of offerings 10
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11% 20% 65% 4% Jio Credit Limited Layer 1 *Subject to regulatory and statutory approvals, **includes marginal AUM from Solar Financing, ^includes Corporate LAS, Auto and Device Leasing for Corporate ^^CP: Commercial Papers, NCD: Non-Convertible Debentures, Bank Loans includes WCDL and Term Loans, Inter-Corporate Deposits and Tri-party Repo Rate Focus on product diversification, digital integration & sustainable scalability 11 4,127 11,252 10,629 Q1 FY26 Q1 FY27 Q4 FY26 Disbursements in Rs. Cr Borrowing Mix^^ 173% 11,665 30,667 25,622 Q1 FY26 Q1 FY27 Q4 FY26 Gross AUM 163% in Rs. Cr AUM Mix** 45.4% 10.4% 44.2% 25 offices in 18 cities Avg borrowing cost of 7.07% in Q1 FY27 – among lowest in industry Debt/ Equity of 3.9x Total Shareholders’ Equity of Rs. 7,259 Cr as of June 30, 2026 Q1 FY27: Rs. 28,120 Cr • BofA entered into a JV agreement with JFSL to acquire up to 49.9% in JCL through equity & warrants for up to Rs. 18,268 Cr* • JCL to receive Rs. 6,613 Cr for 26.5% equity & Rs. 2,914 Cr for 25% of the warrant money upfront • JCL to continue being consolidated as JFSL subsidiary • JCL secures long-term capital for loan growth & access to BofA’s finserv expertise incl. governance, risk management, & tech
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2.6 3.9 3.7 Q1 FY26 Q1 FY27 Q4 FY26 11 83 87 Q1 FY26 Q1 FY27 Q4 FY26 50,192 527,037 378,568 Q1 FY26 Q1 FY27 Q4 FY26 Jio Payments Bank Limited *Total Income comprises Net Interest Income and Gross Fees and Commission Income; **Includes Current Account, Savings Account and Wallets; ^includes owned and corporate BC touchpoints Layer 1 12 CASA Customers mn BC Network^ 51% 10.5x Total Income* 7.7x in Rs. Cr Customer Deposits** 358 617 544 Q1 FY26 Q1 FY27 Q4 FY26 72% in Rs. Cr Achieved operational turnaround in Q1 FY27 through product diversification and sharp execution Driving deep-rooted financial inclusion through cutting-edge technology and a customer-first philosophy Diversified Product Offerings & Value Proposition Core Liability Suite: Wide range of Digital, Salary, Assisted Savings A/Cs, incl. flagship “Savings Pro” Payment & Transaction Excellence: Integrated UPI & debit card stack for hi-frequency engagement Financial Inclusion & Utility: Primary transactional hub offering AePS, DMT, BBPS, and DBT Specialised Services: Seamless tolling ops powered by MLFF and NETC acquiring
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Jio Payment Solutions Limited Layer 1 *Net Fee & Commission Income is Gross Fee & Commission Income less Payment Processing Charges, **Last 12 months 7 24 17 Q1 FY26 Q1 FY27 Q4 FY26 7,719 19,208 14,626 Q1 FY26 Q1 FY27 Q4 FY26 27 176 84 Q1 FY26 Q1 FY27 Q4 FY26 2.5x Total Payment Value (TPV) in Rs. Cr Gross Fee & Commission Income in Rs. Cr Net Fee & Commission Income* in Rs. Cr6.4x 3.4x SUSTAINABLE PROFITABLE GROWTH Lean cost structure to build operating leverage Scaling enterprise, SMB & cross-border services Targeting merchants with high, margin-accretive TPV Margin expansion & operating leverage drive operational turnaround in Q1 FY27 +2.1x YoY increase in Net Fee and Commission/ employee LTM** +15x YoY increase in TPV from merchants outside ecosystem +3bps YoY growth in Net Processing Margin to 12bps in Q1 FY27 13
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Joint Ventures with BlackRock BlackRock – BlackRock Advisors Singapore Pte. Ltd. and BlackRock, Inc.; *Cash Funds NFO: JioBlackRock Overnight Fund, JioBlackRock Liquid Fund, JioBlackRock Money Market Fund, **Specialised Investment Fund, #Beyond top 30 cities, ^subject to regulatory approvals, ^^ 0.35% p.a. for assets under advisory > Rs. 1 lac Layer 1 14 15,218 18,412 Q4 FY26 Q1 FY27 21% Closing AUM in Rs. Cr Expanding suite of tailored domestic and international investment products^ • Maiden cash funds* NFO in June 2025 was among the largest in India • JioBlackRock Liquid Fund AUM exceeded Rs. 10,000 Cr in April 2026 • Six JioBLK Profolios – curated model portfolios of JioBlackRock MF – live • Retail Fund Management Entity setup in GIFT City • Leveraging digital & physical distribution channels; 11,000+ MF distributors (including 800+ SIF** certified distributors) onboarded Powered by Aladdin® For institutional-grade portfolio and risk analytics at affordable prices Systematic Active Equity AI/ML-driven dynamic, differentiated investment solutions ~1.2mn retail investors across 18,200 PIN codes 36% Retail AUM from B30# cities (Industry average: 28%**) 18.5% of investors are new to mutual funds ~1.2mn retail investors across 18,200 PIN codes 36% Retail AUM from B30# cities 18.5% of investors are new-to-mutual funds Free Wealth Check-up powered by Aladdin® Personalised Investment Advice starting at Rs. 350/year^^ Beta-launch scheduled for Q2 FY27 Wealth Management Broking Asset Management Rs. 21,737 Cr AUM as of July 31, 2026 ~1.2mn Retail investors across 90%+ PIN codes 36% Retail AUM from B30# cities 18.5% Investors are new-to-mutual funds
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Joint Ventures with Allianz Group Layer 1 15 *Gross written premium • Commands priority market access as India’s third licensed domestic reinsurer • Achieved lead reinsurer status on major treaty programs across prominent private insurers • Robust retrocession frameworks established to maximise capital efficiency and exposure management • Signed binding agreement in April 2026 to offer primary general and health insurance • Regulatory and statutory approvals in process • Non-binding agreement signed in July 2025 to offer savings and life protection policies Allianz Jio Reinsurance Limited Jio Allianz General Insurance Limited Proposed JV for Life Insurance Covers entire spectrum of reinsurance, general & health, and life Full Value-Chain Blends JFSL’s local market insights with Allianz’s global underwriting pedigree Competitive Synergies Captures India’s economic momentum & demographic dividend Demographic Dividend Democratizing insurance with transparent, affordable, and tech-led risk solutions Strategic Rationale • Commenced operations in March 2026; Rs. 266 Cr GWP* during first quarter of operations
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Jio Insurance Broking Limited *Premium facilitated and Total Fee & Commission Income may not be comparable on a sequential basis due to timing of renewal of high-value corporate policies Layer 2 26 61 46 Q1 FY26 Q1 FY27 Q4 FY26 Premium Facilitated Total Fee & Commission Income* 131% 154 238 273 Q1 FY26 Q1 FY27 Q4 FY26 55% in Rs. Cr in Rs. Cr Combining AI-powered customer management with best-in-class distribution for market-leading reach and service Total Premium Facilitated* in Rs. Cr Total Fee and Commission Income* in Rs. Cr 16 • 85 plans from 22 insurers available • 200+ tailored journeys enabling purchase in <3 minutes, optimizing conversions & average ticket size Direct-to- Customer • Emerged as one of India’s largest extended warranty providers for consumer durables and mobile devices Affinity • End-to-end risk assessment & tailored insurance for SMEs • 2x growth in client base as structured originations drive robust account acquisitions and renewals Institutional Sales • Rs. 100 Cr+ premium facilitated within first year of launch • Launched a unique commercial vehicle sourcing portal with 35 products from 12 insurers • Customers across 28 States and 5 UTs Digital Point of Sales Persons
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The Customer Experience Neural Agentic Marketplace: Fintelligence for All (1/2) Layer 3 The Partner Opportunity • Zero Intermediary Bias: Unbiased recommendations, always in the interest of the customer • Zero Friction: Seamless intent-to-action UI/UX from advisory to immediate fulfilment • Zero Noise: Spam-free experience prioritizing 100% transparency • Intent-Qualified Funnels: Pre-qualified leads with real-time intent and scoring • Comprehensive Risk Profiling: Multi-dimensional risk index for precise underwriting • Optimized CAC: Reduced acquisition costs due to targeted offerings MARKETPLACE Seamless access to own & third-party financial products AGENTIC Intuitive human-centric workflows in 7 languages to lower cognitive overload NEURAL 16 AI, 10 ML models driving hyper- personalised advisory 17 VALUE PROPOSITION
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Neural Agentic Marketplace: Fintelligence for All (2/2) Layer 3 Hyper-Personalisation in Action 56% conversions via “Next Best Offer” recommendation engine 10% conversions via data-led propensity campaigns Up to 18% conversions from Chatbot-led product journeys *Third-party products, MAU- Monthly Active Users SCALE & TRACTION 25mn+ unique users across digital properties as of June 2026 ~9mn avg MAU in Q1 FY27 ~34,000 own & 3rd party products purchased daily in June 2026 ~300mn JioPoints issued to ~7mn enrolled customers • Home Loan • Loan against Property • Loan against Shares, MFs, ETFs • Credit Cards* (70 variants from 16 brands) • Personal Loans* (10 partner banks & NBFCs) BORROW • Mutual Funds • Savings Pro • Jio Gold* • Fixed Deposits* (7 partner banks & NBFCs) • Wealth Management – Personalised Investment Advice INVEST • Tax Filing & Planning* • UPI & Bill Payments • CASA with debit cards • Biometric-enabled payments • Split Payments TRANSACT • Term & Non-Term Life, Health, and Car & Two-wheeler* (85 plans from 22 insurers) PROTECT UPCOMING FEATURES • Value-back Membership Program: Incentivising marketplace purchases with assured value -back rewards • Personal CFO: Unbiased guidance with clear call-to-action based on proprietary financial fitness score 18
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Human Capital Building human-centric, AI-driven teams for optimal man-machine collaboration Tech and Data Capital AI-first enterprise powered by a robust data layer for 360o customer view Trust Capital Robust risk, compliance and governance guardrails Defining our DNA: The four pillars of long-term value Financial Capital Scale-based cost engineering; Prudent, risk-calibrated capital allocation Foundational Principles: 4Rs Reputation | Regulation | Return of Capital | Return on Capital 19
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Path ahead: Agentic-first customer interface across products | Enterprise-wide AI adoption with human-in-the-loop | Full DPDP-compliant Consent Management Platform Tech, Data & AI (1/2): The engine behind every experience 20 Data & AI Platform Set up an enterprise- wide Advanced Analytics, Data & AI platform as the foundation Real-Time Data Integration Integrated enterprise- wide source systems through real-time data pipelines → Enterprise BI Dashboards Built business intelligence dashboards giving every team a real-time view Data Science at Scale Built data science models to power prediction and decision- making AI in Customer Lifecycle Now embedding AI across the customer lifecycle — from onboarding to servicing WHERE WE ARE NOW 1 2 3 4 5 WHERE WE STARTED 50+ Business Insight Dashboards 15+ Data science use cases live ~130 AI Agents deployed enterprise- wide
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Enabling superior CX, cost benefits and targeted customer outreach Tech, Data & AI (2/2): Delivering benefits to business 21 Customer Experience Business Operations Customer conversion via AI/ML-led hyper- personalization on the app Lower TAT for credit assessment using Video PD* Faster Merchant API integration by JPSL’s AI developer assistant Growth in JIBL customer conversion via tailored D2C journeys Risk & Fraud Management Growth & Marketing Reduction in product go-live on the app to ~3 weeks Higher efficiency in processing chargebacks by JPSL Reduction in TAT using partner onboarding portal by JCL Efficiency gain via automated end-to-end ops tracking by JPBL Fraudulent emails automatically dealt by JPBL Suspicious activity complaints auto-reported by JPBL Faster risk analysis and scoring across 20 metrics of JPBL Faster policy & regulatory reviews of JCL at 50% lower costs Cost savings via AI-generated marketing assets Propensity models analyzing 800+ behavioral events for next-best offer Higher traffic driven by JCL’s omnichannel marketing Higher conversion among JIBL’s drop-off leads by AI bots 56% 76% 40-60% 3x+ 60%+ 71% 90%+ 70% 90% 10+ 18% 2x+ 53% 61% 30-50% 50% *Personal Discussion
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Human Capital: Building a high-velocity ecosystem Fostering a culture of operational excellence based on man-machine collaboration AI-native Decision-making Moving beyond "digital-first" to embed AI and proprietary data directly into daily decisions Agile Team Architecture Replacing hierarchies with autonomous, cross -functional teams aligned to business outcomes ‘Hire-Build-Enable’ Framework Driving talent excellence through AI capability building across teams Pillars of Customer-Backed Architecture In-house innovation expo focused on high-impact tech & AI-based solutions Jio FinX 2,000+ Professionals with diverse backgrounds 50+ High-impact, employee-led AI solutions presented at Jio FinX 22
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UN-SDG Contribution: ESG & CSR: Taking Formal Finance from Access to Impact 23 Financial Inclusion • Democratized Investment: Enabled first-time investors via DigiGold starting at Rs. 10 SIPs • Savings Pro: Auto-deploys idle bank balances into overnight debt funds for higher, low-risk yield • Expert Advisory: Institutional-grade portfolio intelligence brought to retail investors affordably Digital Transformation • Agentic Marketplace: Hyper-personalized, AI-native interface delivering tailored individual financial insights • Account Aggregator: ~244,000 users linked assets through the consent-led framework, enabling secure, data-led financial journeys Local Economic Growth • TaxGuru Partnership: Simplified tax compliance for individuals and growing small businesses • JioGenNext MAP: Startup ecosystem access providing mentorship, funding, and scale Positive Climate Action • Digital-Native Banking: Paperless virtual debit cards and passbooks driving operational sustainability • Tech-led Climate Finance: Scalable, accessible green funding powered by our digital stack Rs. 23 Cr+ CSR spends in FY26 impacting 9.3L+ individuals 47,000+ people across 61 villages Positively impacted by our Climate- Resilient Village program 22% Reduction in Total Scope 1 & 2 emissions
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Thank you
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Contact Us Mr. Dipak Daga Group Chief Strategy Officer Chief Investor Relations Officer Mr. Rishabh Rathod Investor Relations Email: investor.relations@jfs.in Website: www.jfs.in