Investor Presentation

GE Power India Limited CIN- L74140MH1992PLC068379 Corporate Office: Axis House, Plot No I-14, Towers 5 & 6, Jaypee Wish Town, Sector 128, Noida, Uttar Pradesh – 201304 T+91 0120 5011011 | F +91 0120 5011100 Registered Office: Regus Magnum Business Centers, 11th floor, Platina, Block G, Plot C-59, BKC, Bandra (E), Mumbai, Maharashtra – 400051 T + 91 22 68841741 Email id: in.investor-relations@gevernova.com https://www.gevernova.com/regions/asia/in/ge- power-india-limited 03 July 2026 To, To, National Stock Exchange of India Ltd. BSE Ltd. Exchange Plaza, Plot No. C/1, G Block, P.J. Towers, Dalal Street, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Symbol: GVPIL Scrip Code: 532309 Sub.: Presentation for the Analyst/Institutional Investor Call/Meet Dear Sir/Madam, In furtherance to our letter dated 01 July 2026, regarding Investor meets scheduled on Monday, 06 July 2026 at 04:00 p.m. and Friday, 10 July 2026 at 04:00 p.m., please find enclosed the presentation to be made during the Investors meet. This is for your information and dissemination. Thanking you, Yours truly, For GE Power India Limited Vipul Sharma Company Secretary & Compliance Officer Membership No.- A27737 GE POWER INDIA LIMITED INVESTOR MEET Disclaimer •Thispresentationhasbeenpreparedsolelyfortheuseatanalyst/investorpresentation.Byattendingthemeetingwherethispresentationismade,orbyreadingthepresentationslides,youagreetobeboundbythefollowinglimitations- •Theforward-lookinginformationandstatementscangenerallybeidentifiedbythefactthattheydonotrelateonlytohistoricalorcurrentfacts.Forward-lookingstatementssometimesuseterminologysuchas“targets”,“believes”,“expects”,“aims”,“assumes”,“intends”,“plans”,“seeks”,“will”,“may”, “anticipates”,“would”,“could”,“continues”,“estimate”,“milestone”orotherwordsofsimilarmeaningandsimilarexpressionsorthenegativesthereof.GEPowerIndiaLimitedcannotgiveassurancetothecorrectnessofsuchinformationandstatements. •Bytheirnature,forward-lookinginformationandstatementsinvolveknownandunknownrisks,uncertaintiesandotherimportantfactorsthatcouldcausetheactualresults,performanceorachievementsoftheCompanytodiffermateriallyfromanyfutureresults,performanceorachievementsthatmaybe expressedorimpliedbytheforward-lookinginformationandstatementsinthispresentation.Shouldoneormoreoftheserisksoruncertaintiesmaterialize,orshouldanyunderlyingassumptionsprovetobeincorrect,theCompany'sactualfinancialconditionorresultsofoperationscoulddiffermateriallyfrom thatorthosedescribedhereinasanticipated,believed,estimatedorexpected •Giventheaforementioneduncertainties,prospectiveorpresentinvestorsarecautionednottoplaceunduerelianceonanyoftheseforwardlookingstatements •Nopartofthispresentation,northefactofitsdistribution,shouldformthebasisof,orbereliedoninconnectionwith,anycontractorcommitmentorinvestmentsdecisionwhatsoever.Investor/prospectiveadvisorsmustbesoughtonspecificsituationfromwell-informedlegal,investment,tax,financial,and managementprofessionals •Thispresentationanditscontentsareconfidentialandmustnotbedistributed,publishedorreproduced.ThispresentationdoesnotconstitutearecommendationregardingthesecuritiesoftheCompany. © 2026 GE Power India Limited. All rights reserved. 1 Contents 1 Ongoing initiatives since 2024 2 GEPIL Turnaround Journey Core Services – Growth Trajectory 4 Key Dynamics – Durgapur facility 5 Proposed Strategic Demerger © 2026 GE Power India Limited. All rights reserved. Ongoing initiatives since 2024 Key messages  Focus on high margin, cash accretive deals with faster cash conversion cycle Higher profitability  Business restructuring: GEPIL commercial strategy frozen focusing on Services only  Growth in Services Core business through penetration in oOEM fleet Lower project duration  Expanded presence across multiple international markets, including Saudi, Turkey, Australia, UAE, Malaysia, Indonesia and Morocco  Hydro & Gas slump sale in FY 24-25.. INR 295 crs. boost to EBITDA Credit rating upgrade  BHEL settlement ... ~INR 116 crs. P&L, INR 343 crs. Cash inflow and INR 423 crs. bank guarantee exposure release Higher free cash flow  Proposed Demerger of Durgapur business  Contract manufacturing and Leave & Licence agreement at Vadodara © 2026 GE Power India Limited. All rights reserved. GEPIL Turnaround: Organic and Inorganic levers ₹ Crores Bank Balance Outstanding Bonds Net Worth 2,128 1,956 1,348 443 764 227 233 57 49 Mar’23 Mar’24 Mar’25 Mar’26 Mar’23 Mar’24 Mar’25 Mar’26 Mar’23 Mar’24 Mar’25 Mar’26 23% EBITDA Market capitalisation ICRA Long term credit * 6,250 Rating 1,784 1,678 (90) 699 (251) FY’23 FY’24 FY’25 FY’26 Mar’23 Mar’24 Mar’25 Jun’26 Mar’23 Mar’24 Mar’25 Mar’26 * Includes INR 295 crs. gain from Hydro & Gas slump sale # approx. 8x+ Net Worth, 18x+ Bank balance, 1,364 crs. BG reduction in 2 years; declaration of Dividend in 2026 © 2026 GE Power India Limited. All rights reserved. )geN(+BBB )geN(BBB )geN(BBB )elbatS(+BBB Core Services: Growth Trajectory ₹ Crores  ~34% overall order booking (OEM + oOEM) growth in core services Vs. FY 24-25 Order Booked – FY 2025-26 (Growth)  Continued focus for growth in third party fleet (oOEM) --- > ~1.9x order growth Vs. FY24-25 (INR ~162 crs. to INR ~320 crs.)  Approach for continued Growth in Core Services YoY  Target emergency repair opportunities and support 368 customers to bring back unit to grid in shortest 299 possible time.  Continued focus to increase part readiness OEM–OriginalEquipmentManufacturer oOEM–ThirdPartyFleet/OtherOEM A-Actuals 2021-22(A) 2022-23(A) 2023-24(A) 2024-25(A) 2025-26(A) Grow Core Services to unlock sustainable profitability and cashflow © 2023 GE Vernova and/or its affiliates. All rights reserved. 5 © 2026 GE Power India Limited. All rights reserved. Key Dynamics – Durgapur facility Overview The Durgapur facility, located in West Bengal, has been instrumental in the manufacturing and supply of critical power equipment, including power boilers components, pressure vessels, piping, and coal mills for thermal power plants. The facility comprises of industrial factory unit and a residential township spread across -661 acres of leasehold land. For the past years, the factory’s utilization has been limited to service work and non-coal activities. In the last two years (2023-2025) there has been a significant underutilization of Durgapur’s capacity ~ INR 27 crores average loss per year booked in GEPIL. GEPIL evaluated multiple options including the demerger of the Durgapur business or retention of the factory. GEPIL’s key objectives included simplifying GEPIL’s portfolio by exiting the asset, which is today under-utilized. The Buyer organization, JSW Energy Limited (“JSWE”), is an established and Indian public listed energy company and a well-known name in the industry, and we believe the acquisition of the Durgapur factory by JSWE will ensure well utilization of the facility in the future in view of the Indian Industry Power demand. © 2026 GE Power India Limited. All rights reserved. Maximizing Shareholder Value GEPIL & JSW Energy Strategic Demerger Overview GE Power India Limited (GEPIL) is undertaking a Scheme of Arrangement to demerge its Durgapur business unit—specializing in the manufacture of power boilers, pressure vessels, piping, and coal mills—to JSW Energy Limited. Operational Continuity: Upon sanction of the Scheme by the National Company Law Tribunal (NCLT), the business will be transitioned on a “going concern, as-is-where-is” basis, retrospectively effective 1st July 2025. Value Proposition for Shareholders This strategic initiative is designed to unlock inherent value for GEPIL shareholders through: • Enhanced Entitlement: Shareholders will receive 10 fully paid-up equity shares of JSW Energy (₹10 each) for every 139 fully paid-up equity shares of GEPIL (₹10 each). • Preserved Equity: Existing number of shares owned in GEPIL will remain unchanged, while you gain direct equity participation in JSW Energy without diluting your current position [Showing first 8,000 characters — download PDF for full document]