Titan Energy Systems Limited Indian Solar Module Manufacturer and System Integrator

COMPANY & BUSINESS OVERVIEW Titan Energy Systems Ltd (“TESL”) is registered as a closely held Public Limited Company in 1995,with its Registered Office at Secunderabad. It is a manufacturing company of Solar Photovoltaic Modules and a service provider in integration of off-grid and on-grid Solar Photovoltaic Power Plants. It is an established Indian Company serving customers all over world from the last 19 years in the Design Engineering, Installation, Manufacturing and after sales service of Solar PV Modules & Systems of varying scale and complexities. The company’s manufacturing plant is situated in Medchal, Andhra Pradesh, on the outskirts of Hyderabad. IFCI VENTURE CAPITAL FUNDS LIMITED2

……conti. from previous slide The manufacturing plant is of 100 MWp semi-automated module manufacturing facility. It is having a status of 100% EOU (Export Oriented Unit) It is spread over 3.9 acres with built up area of 36,000 sqft and workshop/stores/packing forwarding area of around 17,000 sqft. IFCI VENTURE CAPITAL FUNDS LIMITED3

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KEY ACHIEVEMENTS IFCI VENTURE CAPITAL FUNDS LIMITED5

KEY PRODUCTS AND SERVICES Solar photovoltaic modules with wattage ranging from 3 WP to 300 WP. Undertake EPC projects (engineering, procurement and construction contracts)on turnkey basis for setting up the Solar Photovoltaic Power Plants for both off-grid and on-grid, including offshore application. Provide Operational and Maintenance services for the Power Plants as per the customer requirement guaranteeing the energy generation. IFCI VENTURE CAPITAL FUNDS LIMITED6

REFERENCE PROJECT-I IFCI VENTURE CAPITAL FUNDS LIMITED7 1 MWp Grid--‐Connected Solar Power Plant ( Asansol, West Bengal)– India’s FIRST MW Grid connected project

IFCI VENTURE CAPITAL FUNDS LIMITED8 REFERENCE PROJECT-II 1 MWp Grid--‐Connected Solar Power Plant at Bhuj, Gujarat (Commissioned Jan 2012)

IFCI VENTURE CAPITAL FUNDS LIMITED9 REFERENCE PROJECT-III 3 MWp Grid--‐Connected Solar Power Plant (Kolar, Karnataka) (India’s first 3MW scale project)

MAJOR CUSTOMERS Titan has done business with several leading global players from Europe including Germany, Italy, France, UK, Greece, Portugal and Spain, USA, India and rest of the world. In most of the cases Titan has had multi- year relationships built by consistent quality, timely delivery and after sales service. Titan has also been working with several Indian PSUs. IFCI VENTURE CAPITAL FUNDS LIMITED10

QUALIFICATIONS, CERTIFICATIONS AND AWARDS International: Product certifications as per IEC 61215, IEC 61730, IEC 61701, UL 1703 and Intertek are available for both Mono and Poly Crystalline Modules from German and USA Labs. The range of the modules is from 50Wp to 300Wp+ Being certified for American Safety organizations – UL and Intertek, Titan modules qualify for installations in US too. Titan Modules qualify for financing from Exim Bank, US as well, as the modules are certified by UL and Intertek; as we can use US made Solar Cells. Titan modules are also bankable in certain European countries. IFCI VENTURE CAPITAL FUNDS LIMITED11

……conti. from previous slide International: Titan modules are qualified to meet all International standards using multi BOM from Multi Suppliers to make the final product more competitive. ISO 9001: 2008 Certifications for the manufacturing facility does exist from 1997 onwards without any break. TITAN is in the process of obtaining ISO and OHSAS certifications from TUV. First Indian Company to manufacture crystalline, amorphous and CIGS modules. IFCI VENTURE CAPITAL FUNDS LIMITED12

……conti. from previous slide Domestic: Titan modules are qualified by Indian Railways for use in Anti Collision Devices (Safety Devices) that are being implemented by Konkan Railways. Titan Modules are qualified for use in Marine Environment and are in use in ONGC for powering the telemetry equipment in their un-manned oil/gas producing well platforms. Titan modules are qualified by leading PSUs like BSNL, ONGC, BHEL, BPCL etc for their projects. IFCI VENTURE CAPITAL FUNDS LIMITED13

PROMOTERS IFCI VENTURE CAPITAL FUNDS LIMITED14 NameDetails Rao SYS Chodagam Promoter Director, Chairman and Managing Director A technocrat and first generation entrepreneur, has over three decades of experience in the Photovoltaic industry Prior to founding TITAN in 1995, handled various technical, research and commercial responsibilities in Government organizations & Public Sector Units for over 20 years Mr. Ravi K Chodagam Director Has over 15 years of experience in manufacturing and Information technology industry in both operational and consulting roles Has worked globally with Fortune 500 companies in the U.S., Singapore, Australia and India MBA from Indian School of Business and Engineering from NIT, Kurkshetra Dr. Sasidhar Chodagam Promoter Director Doctorate in Sciences from Cambridge University, UK. Completed Business Management from the London Business School Involved in company’s strategy and international business development

ORGANIZATION STRUCTURE IFCI VENTURE CAPITAL FUNDS LIMITED15 Managing Director Finance & Accounts Sales & Marketing Plant Operations Commercial - Procurement & logistics Personnel and Administration

SHARE HOLDING PATTERN IFCI VENTURE CAPITAL FUNDS LIMITED16 Name of the share holder’sShares Held byNo of shares%Shareholding Mr.Rao SYS Chodagam Founding Promoter and CMD 36,10, Dr. Sasidhar ChodagamPromoter’s Family19,61, Mrs. Aruna ChodagamPromoter’s Family15,04, Mr. Ravi Kiran ChodagamPromoter’s Family9,80, M/s. Titan Consultants & Services Limited Promoter’s Associated Company M/s. Titan Technocrats Private Limited Promoter’s Associated Company Total promoter’s holding80,57, M/s. Blitz storm GMBH, GermanyGerman private investor8,00, Green India Venture Fund (IFCI Venture Capital Funds Ltd.) (refer Note 1 below) Indian Govt. owned Private Equity fund 16,65, Total investor’s holding24,66, Total1,05,23, Note: IFCI Venture Capital Funds Ltd. through its Green India Venture Fund has invested Rs. 15 Crore in equity of the company

IFCI VENTURE CAPITAL FUNDS LIMITED17 KEY FINANCIALS (AUDITED IN INR MN)

IFCI VENTURE CAPITAL FUNDS LIMITED18 DISCLAIMER AND IMPORTANT NOTICE This teaser of the company has been prepared by IFCI Venture Capital Funds Limited (‘IFCI Venture’) on the basis of information provided by Titan Energy Systems Ltd. Neither IFCI Venture, nor any of its associates, nor any of their respective directors, employees or advisors make any expressed or implied representation or warranty and no responsibility or liability is accepted by any of them with respect to the accuracy, completeness or reasonableness of the facts, opinions, estimates, forecasts, projections, or other information set forth in this teaser or the underlying assumptions on which they are based or the accuracy of any computer model used and nothing contained herein is, or shall be relied upon as a promise or representation regarding the historic or current position or performance of the company, or any future events or performance of the company. This teaser is furnished on strictly confidential basis. Neither this teaser, nor the information contained herein, may be reproduced or passed to any person or used for any purpose other than for this process of “Sale of shareholding in Titan Energy Systems Ltd.” by IFCI Venture Capital Funds Ltd.