Slides
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Juniper Green Energy Limited Earnings Presentation – Q1 FY2027 August 2026
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Disclaimer By attending the presentation or by reading the presentation slides you agree to be bound as follows: This Presentation is prepared by Juniper Green Energy Limited (“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of any particular person and is not and nothing in it shall be construed as an invitation, offer, solicitation, recommendation or advertisement in respect of the purchase or sale of any securities of the Company or any affiliates in any jurisdiction or as an inducement to enter into investment activity and no part of it shall form the basis of or be relied upon in connection with any contract or commitment or investment decision. This Presentation does not take into account, nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. This Presentation and its contents are confidential and proprietary to the Company and/or its affiliates and no part of it or its subject matter be used, reproduced, copied, distributed, shared, or disseminated, directly or indirectly, to any other person or published in whole or in part for any purpose, in any manner whatsoever. The information contained in this Presentation is a general background information of the Company and its affiliates. We don’t assume responsibility to publicly amend, modify or revise any information contained in this Presentation on the basis of any subsequent development, information or events, or otherwise. This Presentation should not be considered as a recommendation to any investor to subscribe to any security. This Presentation may include certain statements that are, or may be deemed to be, “forward-looking statements” and relate to the Company, its affiliates and its financial position, business strategy, events and courses of action. Forward-looking statements and financial projections are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements and financial projections. Forward-looking statements and financial projections include, among other things, statements about: our expectations regarding our expenses, sales and operations; our future customer concentration; our anticipated cash needs, our estimates regarding our capital requirements, our need for additional financing; our ability to anticipate the future needs of our customers; our plans for future products and enhancements of existing products; our future growth strategy and growth rate; our future intellectual property; and our anticipated trends and challenges in the markets in which we operate. Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy, future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts in the Presentation, if any, are correct or that any objectives specified herein will be achieved. We, or any of our affiliates, shareholders, directors, employees, or advisors, as such, make no representations or warranties, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein and accept no liability whatsoever for any loss, howsoever, arising from any use or reliance on this Presentation or its contents or otherwise arising in connection therewith. The information contained herein is subject to change without any obligation to notify any person of such revisions or change and past performance is not indicative of future results. It is clarified that this Presentation is not intended to be a document or advertisement offering for subscription or sale of any securities or inviting offers or invitations to offer or solicitation to offer from the public (including any section thereof) or any class of investors. This document has not been and will not be reviewed or approved by a regulatory authority in India or by any stock exchange in India. No rights or obligations of any nature are created or shall be deemed to be created by the contents of this Presentation. 2
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Agenda 01 Business & Operational Highlights 02 Financial Highlights 03 Capacity Execution and Growth Plan 04 Project Details 05 Annexure 3
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Key Highlights – Q1 FY27 TOTAL INCOME (INR Cr) ▲ +79% YoY EBITDA (INR Cr) QUARTER COMPARISON (Q1) ▲ +86% YoY PAT (INR Cr) ▲ +54% YoY ✓ EBITDA Margin increased by 300 bps YoY to 91% with Highest ever quarterly EBITDA ✓ Commissioned more than 760 MWp (458 MWp solar & 309 MW Wind) RE Capacity & ~400 MWh BESS from Apr’26 till date ✓ Signed a 50 MW PPA with SJVN under our FDRE portfolio at a tariff of INR 4.25/kWh. ✓ Two new tenders won (SECI FDRE Round the Clock and GUVNL Wind Project) for total of 920 MWp + 2,200 MWh BESS post June 30, 2026. ✓ Commissioned India’s first FDRE under SJVN FDRE Scheme tender 4 181 324 Q1 FY26 Q1 FY27 159 294 Q1 FY26 Q1 FY27 22 33 Q1 FY26 Q1 FY27 Total Operational Portfolio Capacity (MWp) 1,174 2,409 2,575 FY25 Jun’26 As on date Total Operational Wind Capacity (MW) 69 294 460 FY25 Jun’26 As on date 101 503 FY26 As on date Total Operational BESS Capacity (MWh) Q1 FY27 Performance Snapshot
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S E C T I O N 01 Business & Operational Highlights Image source: Juniper project asset
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Business Highlights – Q1 FY27 ✓ Commissioned 601 MWp (Solar : 458 MWp , Wind: 143 MW) in Q1FY2027 - Highest ever RE capacity commissioned by Juniper in one quarter ✓ Operational capacity reached 2,409 MWp as on June 30, 2026. ✓ Further commissioned 167 MW Wind capacity post June 30, 2026, taking total operational capacity as on date to 2,575 MWp BESS Updates ✓ Commissioned ~400 MWh BESS in Q1 FY27. ✓ Additional BESS ordered for ~4,000 MWh capacity ✓ Target BESS Installation of ~4,500 MWh by June 2027 & ~10,000 MWh by March 2028 Two Tenders Won & One PPA signed Post June 30, 2026 1. Signed a 50 MW PPA with SJVN under our FDRE portfolio at a tariff of INR 4.25/kWh 2. SECI Firm and Dispatchable Renewable Energy Round-the-Clock (Thermal Mimic Tender): ➢ Planned capacity:870 MWp and 2,200 MWh BESS (against contract capacity of 230 MW) ➢ Tariff of Rs. 5.26/kWh; Letter of Award received 2. GUVNL Wind Tender :50 MW wind project won from GUVNL at tariff of Rs. 3.51/kWh 6 6 Operational Capacity 2,575 MWp (As on Date) Operational BESS Capacity 503 MWh Total Portfolio as on Date 11,216 MWp + 8,989 MWh BESS
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Operational Highlights – Q1 FY27 Operational Highlights Capacity Utilization Factor (CUF %) Q1 FY26 Q1 FY27 28.2% 30.2% Plant Availability % Q1 FY26 Q1 FY27 99.2% 98.8% Generation (Mn Units) Q1 FY26 Q1 FY27 548 944 +72% YoY Grid Availability2 % Q1 FY26 Q1 FY27 99.3% 99.6% • Capacity Utilization Factor improved to 30.2% in Q1 FY27, up from 28.2% a year ago • Generation increased 72% YoY to 944 Mn units, driven by capacity additions • In Q1FY27, Wt. Avg. CUF¹ for the Wind projects of 192 MW stood at 49.9% • In Q1FY27, Wt. Avg. CUF1 for the Solar projects of 935 MW stood at 27.9% 1CUF is calculated on AC capacity from the next month in which the project is fully commissioned 7 • Plant availability has reduced on account of increase in the wind capacity in the overall operational portfolio 2Impact of curtailment of power is not considered for the purpose of calculation of grid availability
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Other Business Highlights – Q1 FY27 Connectivity 6 ✓ Connectivity available (including granted and/or applied) for full portfolio ✓ Surplus Connectivity of more than 4,500 MW available for the future bids (including granted and/or applied) ✓ Connectivity available for installation of more than 20,000 MWh of BESS (including granted and/or applied) Land ✓ Over 14,000 acres of land available for the Under Construction Contracted and Awarded projects ✓ More than 200 locations available for Wind Turbine Installation for Under Construction Contracted and Awarded projects Execution capabilities ✓ Commissioned more than 760 MWp & ~400 MWh BESS till date in FY27 across 8 Sites ✓ In-house EPC team enables end-to-end, parallel execution across multiple sites in various states, at both STU and CTU levels SPV State/CT U Type MWp BESS MWh Juniper Green Stellar Pvt. Ltd. CTU FDRE 224 201 Juniper Green Stellar Pvt. Ltd. CTU FDRE 165 201 Juniper Green Beam & Kite Pvt. Ltd. GJ-STU Wind 41 - Juniper Green Spark Four Pvt. Ltd. GJ-STU Hybrid 42 - Juniper Green Energy Limited GJ-STU Hybrid 140 - Juniper Green Beam Eight Pvt. Ltd. MH-Tata Power Hybrid 50 - Juniper Green Spark Ten Pvt. Ltd. MH-STU Hybrid 15 - Juniper Green Kite Pvt. Ltd. GJ-STU Wind 90 - Total 767 403 8 Capacity addition till date – FY27
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S E C T I O N 02 Financial Highlights Image source: Juniper project asset
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Financial Highlights TOTAL INCOME ₹324 Cr ▲ +79% YoY | Q1 FY26: ₹181 Cr ▲ +33% QoQ | Q4 FY26: ₹244 Cr EBITDA ₹294 Cr ▲ +86% YoY | Q1 FY26: ₹159 Cr ▲ +38% QoQ | Q4 FY26: ₹214 Cr EBITDA MARGIN 91% ▲ +300 bps YoY | Q1 FY26: 88% ▲ +300 bps QoQ | Q4 FY26: 88% OPERATING INCOME ₹291 Cr ▲ +81% YoY | Q1 FY26: ₹161 Cr ▲ +37% QoQ | Q4 FY26: ₹213 Cr OPERATING EBITDA ₹261 Cr ▲ +89% YoY | Q1 FY26: ₹138 Cr ▲ +43% QoQ | Q4 FY26: ₹183 Cr OPERATING EBITDA MARGIN 90% ▲ +400 bps YoY | Q1 FY26: 86% ▲ +400 bps QoQ | Q4 FY26: 86% PAT ₹33 Cr ▲ +54% YoY | Q1 FY26: ₹22 Cr ▲ +55% QoQ | Q4 FY26: ₹22 Cr CASH PAT (1) ₹108 Cr ▲ +50% YoY | Q1 FY26: ₹72 Cr ▲ +22% QoQ | Q4 FY26: ₹88 Cr DA YS RECEIVABLE OUTSTANDING 19 Days (As on June 30, 2026) 1Cash PAT = PAT + Depreciation 2DRO is calculated as closing trade receivables (excluding unbilled revenue) divided by billed revenue (revenue from operations plus opening unbilled revenue minus closing unbilled revenue), multiplied by the number of days for the period. 10
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Capex and Debt Details ✓ Capex of INR 1,183 Cr incurred during Q1FY27 ✓ Total Gross block of INR 10,072 Cr as on June 30, 2026 ✓ Total CWIP of INR 6,231 Cr as on June 30, 2026 including capital advances ✓ Total Debt of INR 13,182 Cr outstanding as on June 30, 2026 ✓ Net Debt for the Operational portfolio stands at INR 7,183 Cr ✓ Refinanced more than INR 1,700 Cr at wt. avg. interest rate of less than 8% p.a. across 3 projects in the current Fiscal ✓ Weighted average cost of debt for the operational portfolio stands at 8.58% p.a. ✓ Net Debt / Net Worth as on June 30, 2026 stands at 3.24x ✓ Primary funds of INR 1,800 Cr raised through IPO in August’26 ✓ Post IPO Net worth increased to ~5,200 Cr 6 11 Total Capex INR 16,303 Cr (As on June 30, 2026) Net Debt INR 11,217 Cr (As on June 30, 2026) Net Worth INR 3,463 Cr (As on June 30, 2026)
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Off-taker Credit Quality 12 Off-taker Category MWp Rating Share SJVN Central 2,641 CARE AA+ 24% NHPC Central 2,444 CARE AAA 22% NTPC Central 1,740 ICRA AAA 16% SECI Central 1,571 ICRA AAA 14% Central off-taker – Sub total A 8,395 75% GUVNL State 1,262 CARE AA+ 11% MSEDCL State 1,073 Acuite A Stable 10% Tata Power Company Ltd. Private 277 CRISIL AA+ 2% State & Private off-taker – Sub total B 2,611 23% Merchant Merchant 210 – 2% Total portfolio 11,216 100% 98% Of portfolio is with off-takers rated “A” or above 98% of portfolio secured through long-term PPAs (typically 25 years) Off-taker mix (MWp) Days Receivable Outstanding (Days) 23 17 22 19 FY24 FY25 FY26 Q1 FY27 24% 22% 16% 14% 11% 10% 2% 2% Central-SJVN (CARE AA+ Stable) Central-NHPC (CARE AAA Stable) Central-NTPC (ICRA AAA Stable) Central-SECI (ICRA AAA Stable) GUVNL (CARE AA+ Stable) MSEDCL (Acuite A Stable) TPCL (CRISIL AA+ Stable) Merchant 11,216 MWp
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S E C T I O N 03 Capacity Execution and Growth Plan Image source: Juniper project asset
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Total Portfolio Breakup Capacity As on date Contracted (MW) AC (MW) DC (MWp) BESS (MWh) Solar 935 935 1,322 101 Wind 279 282 282 - WSH 303 346 459 - FDRE 193 398 512 403 Operational - A 1,710 1,961 2,575 503 Wind 150 150 150 - WSH 647 726 902 - FDRE 1,097 1,863 2,510 3,586 Under Construction – Contracted - B 1,894 2,739 3,562 3,586 Sub-Total (A+B) 3,604 4,700 6,137 4,089 Wind 50 50 50 - Hybrid 1,650 1,980 2,572 - FDRE 880 1,680 2,458 4,900 Under Construction – Awarded - C 2,580 3,710 5,079 4,900 Grand Total (A+B+C) 6,184 8,410 11,216 8,989 Portfolio Stage Mix (MWp) 2,575 3,562 5,079 11,216 Operational + PPA Signed + LOA Received* Total Portfolio 503 MWh + 3,586 MWh + 4,900 MWh + 8,989 MWh + ✓ 84% of the total portfolio consists of FDRE & WSH projects ✓ Wt. avg tariff of the total portfolio is 3.70 /kWh 14*Includes 50 MW GUVNL wind project won for which LOA is yet to be received
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Status of Under-Construction Contracted Projects Entity Type DC (MWp) BESS (MWh) Substation Name GNA Timelines Expected COD/Plant Readiness BESS installation date Juniper Green Beam Eight Private Limited WSH 35 - Bhigwan Operational Sep’26 - Juniper Green Spark Ten Private Limited WSH 10 - Chapalgaon Operational Sep'26 - Juniper Green Energy Limited WSH 50 - Charadva Operational Sep’26 - Juniper Green Spark Four Private Limited WSH 110 - Faredi, Choraniya & Charadva Operational Oct’26 - Juniper Green Power Five Private Limited WSH 26 - Tuljapur Operational Oct’26 - Juniper Green ETA Five Private Limited WSH 135 - Tuljapur Operational Oct’26 - Juniper Green Stellar Private Limited FDRE 203 - F4S1 & JK-1A Nov’26 Dec'26 - Juniper Green Stellar Private Limited- GS FDRE 67 - F4S1 & JK-1A Nov’26 Dec'26 - Juniper Green Sigma Eight Private Limited FDRE 192 281 Rajur & Chapalgaon Operational Mar’27 Mar'27 Juniper Green Beta Private Limited WSH 298 - Bhadla-III & JK-1A Mar’27 Mar’27 - Juniper Green Beta Private Limited WSH 237 - Bhadla-III, F4S1 & JK-1A Mar’27 Mar'27 - Juniper Green Light Ten Private Limited FDRE 480 884 F4S2 Jun’27 Jun'27 Phased commissioning Apr’27 onwards Juniper Green Beta Six Private Limited FDRE 500 784 Barmer-1 Jun’27 Jun'27 Jun'27 Juniper Green Bess Zeta Private Limited FDRE 451 362 F4S2 & Barmer-1 Jun’27 Jun'27 Phased commissioning Apr’27 onwards Juniper Green Bess Two Private Limited Wind 100 - Mansar & Bhalgamda Operational Jul’27 - Juniper Green Cosmic Private Limited FDRE 500 1,039 F4S2 , Bikaner-III & Bikaner-II Sep’27 Sep'27 Phased commissioning Oct’26 onwards Juniper Green Bess Delta Private Limited Wind 50 - Ghiyawad & Bhogat Operational Nov’27 - Juniper Nirjara Energy Private Limited FDRE 116 235 Bikaner-II Sep’27 Dec’27 Dec’26 Total – UCC 3,562 3,586 15
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S E C T I O N 04 Project Details Image source: Juniper project asset
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Project Wise Portfolio Breakup – Operational Entity Type Off-taker AC (MW) DC (MWp) BESS (MWh) Tariff (Rs./ kWh) COD Nisagra Renewable Energy Private Limited + Juniper Green Energy Limited Solar MSEDCL 100 144 - 3.38 Dec’19-Mar’20 Juniper Green Sigma Private Limited Solar GUVNL 120 175 - 2.83 Oct–Dec’20 Juniper Green Three Private Limited Solar GUVNL 190 262 - 2.75 Mar’22 Juniper Green Field Private Limited Solar MSEDCL 150 207 - 3.06 Jun–Aug’22 Juniper Green Gamma One Private Limited Solar MSEDCL 75 105 - 2.90 Mar’24 Juniper Green Cosmic Private Limited Solar + BESS Merchant 100 140 101 Merchant Oct’24 & Jan’26 Juniper Nirjara Energy Private Limited Solar Merchant 50 70 - Merchant Mar’25 Juniper Green Ray Two Private Limited Solar MSEDCL 150 217 - 2.75 May–Jun’25 Juniper Green Beam Private Limited Wind GUVNL 69 69 - 2.90 Mar–Jun’24 Juniper Green Beam Private Limited Wind GUVNL 50 50 - 2.95 Jul’25–May’26 Juniper Green Kite Private Limited Wind GUVNL 72 72 - 3.11 Oct’25–May’26 Juniper Green Kite Private Limited Wind GUVNL 90 90 - 3.44 Jun-Jul’26 Juniper Green Power Five Private Limited (partial) WSH MSEDCL 75 103 - 3.60 Jun–Jul’25 Juniper Green Spark Ten Private Limited (partial) WSH MSEDCL 90 124 - 3.60 Oct’25–Jan’26 Juniper Green Energy Limited (partial) WSH GUVNL 100 140 - 3.04 Apr–Jun’26 Juniper Green Spark Four Private Limited (partial) WSH GUVNL 30 42 - 3.30 May’26 Juniper Green Stellar Private Limited (partial) FDRE SJVN 273 347 201 4.38 Mar–Jun’26 Juniper Green Stellar Private Limited - Greenshoe (partial) FDRE SJVN 125 165 201 4.38 Apr-Jun’26 Juniper Green Beam Eight Private Limited (partial) WSH Tata Power 50 50 - 3.27 Jul– Aug’26 Total – Operational 1,961 2,575 503 17
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PPA Signed – Under Construction Entity Type Off-taker AC (MW) DC (MWp) BESS (MWh) Tariff (₹/kWh) Tariff Adoption Status Connectivity Status Juniper Green Beam Eight Private Limited WSH TPCL 25 35 - 3.27 Adopted Secured Juniper Green Beta Private Limited WSH NTPC 238 298 - 3.36 Adopted Secured Juniper Green Energy Limited WSH GUVNL 50 50 - 3.04 Adopted Secured Juniper Green Spark Four Private Limited WSH GUVNL 90 110 - 3.30 Adopted Secured Juniper Green Power Five Private Limited WSH MSEDCL 26 26 - 3.60 Adopted Secured Juniper Green ETA Five Private Limited WSH MSEDCL 101 135 - 3.60 Adopted Secured Juniper Green Spark Ten Private Limited WSH MSEDCL 10 10 - 3.60 Adopted Secured Juniper Green Stellar Private Limited FDRE SJVN 203 203 - 4.38 Adopted Secured Juniper Green Stellar Private Limited - GS FDRE SJVN 67 67 - 4.38 Adopted Secured Juniper Green Beta Private Limited WSH SECI 185 237 - 3.21 Adopted Secured Juniper Green Light Ten Private Limited FDRE NHPC 320 480 884 4.64 Adopted Secured Juniper Green Beta Six Private Limited FDRE NTPC 350 500 784 4.69 Adopted Secured Juniper Green Bess Zeta Private Limited FDRE SJVN 351 451 362 4.25 Adopted Secured Juniper Green Cosmic Private Limited FDRE NHPC 350 500 1,039 4.37 Adopted Secured Juniper Green Bess Two Private Limited Wind GUVNL 100 100 - 3.56 Adopted Secured Juniper Green Sigma Eight Private Limited FDRE TPCL 140 192 281 4.76 Adopted Secured Juniper Green Bess Delta Private Limited Wind GUVNL 50 50 - 3.65 Adopted Secured Juniper Nirjara Energy Private Limited FDRE SJVN 80 116 235 4.25 Adopted Secured Total PPA signed under construction 2,739 3,562 3,586 18
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LOA Received Projects Entity Type Off-taker AC (MW) DC (MWp) BESS (MWh) Tariff (₹/kWh) Connectivity Status Juniper Green Sigma Six Private Limited WSH SJVN 180 232 - 3.41 Secured Juniper Green Beam Six Private Limited WSH SECI 180 232 - 3.25 Secured Juniper Green Light Four Private Limited WSH SJVN 180 232 - 3.43 Secured Juniper Green Alpha Three Private Limited WSH SJVN 360 464 - 3.19 Secured Juniper Green Gem Private Limited WSH NHPC 180 239 - 3.48 Secured Juniper Green India Eight Private Limited WSH SECI 180 232 - 3.43 Secured Juniper Green Infinite Private Limited WSH NTPC 180 232 - 3.43 Secured Juniper Green India Alpha Private Limited WSH NTPC 180 232 - 3.43 Secured Juniper Green Energy Limited WSH NTPC 360 477 - 3.29 Secured Juniper Green Beam Alpha Private Limited FDRE NHPC 345 505 900 4.56 Secured Juniper Green Power Omega Private Limited FDRE NHPC 480 720 1,200 4.48 Secured Juniper Green Bess One Private Limited FDRE SJVN 250 363 600 4.25 Secured Thermal Mimic (SPV to be finalised) FDRE SECI 605 870 2,200 5.26 Secured GUVNL Wind-7 (SPV to be finalised) Wind GUVNL 50 50 - 3.51 Secured Total 3,710 5,079 4,900 19Above configuration may be revised at the time of signing of PPA or anytime beyond as per the applicable terms
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S E C T I O N 05 Annexure Image source: Juniper project asset
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Key Consolidated Financials – Snapshot TOTAL INCOME — Q1FY27 ₹324 Cr ▲ +33% QoQ +79% YoY EBITDA — Q1FY27 ₹294 Cr ▲ +38% QoQ +86% YoY PROFIT AFTER TAX — Q1FY27 ₹33 Cr ▲ +55% QoQ +54% YoY Particulars (In INR Cr) Q1FY27 Q4FY26 Q1FY26 Revenue from operations 291 213 161 Other income 33 31 21 Total Income 324 244 181 Cost of power purchased 2 2 - Employee benefits expense 7 7 6 Other expenses 20 21 16 Total expenses 30 30 23 EBITDA 294 214 159 Finance costs 176 119 79 Depreciation and amortisation expense 75 67 50 Profit before tax 44 28 29 Tax expense 11 6 7 Profit after tax 33 22 22 21
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COMPANY: Juniper Green Energy Limited Email: investors@junipergreenenergy.com Website: www.junipergreenenergy.com Thank You Image source: Juniper project asset