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Slide 1: Click to edit Master subtitle style CAIRN INDIA Corporate Presentation July 2011 12/15/11
Slide 2: 2 Disclaim er These materials contain forward-looking statements regarding Cairn India, our corporate plans, future financial condition, future results of operations, future business plans and strategies. All such forward-looking statements are based on our management's assumptions and beliefs in the light of information available to them at this time. These forward-looking statements are, by their nature, subject to significant risks and uncertainties and actual results, performance and achievements may be materially different from those expressed in such statements. Factors that may cause actual results, performance or achievements to differ from expectations include, but are not limited to, regulatory changes, future levels of industry product supply, demand and pricing, weather and weather related impacts, wars and acts of terrorism, development and use of technology, to edit Master subtitle other changes to business conditions. Cairn India undertakes no Click acts of competitors and style obligation to revise any such forward-looking statements to reflect any changes in Cairn India’s expectations with regard thereto or any change in circumstances or events after the date hereof. 12/15/11
Slide 3: 3 Holding Structure 2 . 6 IPO December 2006 % Click to edit Master subtitle style 28.8 % 9.4% 7.1% Over 200,000 Indian retail shareholders Listed on BSE & NSE in January 2007 Market NIFTY index & DJIT30 Part of Cap >USD13 billion; amongst India’s top 20 Total Equity of 1,902 million shares; Free float ~19%* Cairn PLC Vedanta Group Institutions 12/15/11 F I Retail I 52.1% DJIT30: Dow Jones India Titans 30 Index, *Free float excludes Vedanta Groups
Slide 4: 4 World Class Asset Base Production Blocks Cairn 7 (Operator) (RJ-ON- 0 Rajasthan % 90/1) ONGC 3 0 % Cambay (CB/OS-2) Cairn (Operator) ONGC 40% Tata Petrodyne 5 0 % 1 0 Ravva (PKGM-1) % 22. 5% 40 % 10 blocks in the Portfolio Exploration Potential RJ-ON90/1 RajasthanWI 70% East Coast Click to edit Master subtitle style KG-DWN98/2 KG-ONN2003/1 PKGM-1 (Ravva) PR-OSNKG-OSN2004/1 2009/3 WI 10% WI 49% WI 22.5% WI 35% WI Cairn (Operator) ONGC CB/O S-2 KK-DWN2004/1 MB-DWN-2009/1 West Coast 100% WI 40% WI 40% WI 100% Videocon 12/15/11 Ravva Oil Sri Lanka WI SL 2007-01-001 Q1 FY 2011-12: Average Daily Gross operated production at 171,801 boe; Cairn (Working Interest) at 99,640 boe 100% 25
Slide 5: 5 Growth Strategy Maximise recovery from production base Execute Rajasthan development Maximise Potential in Rajasthan Identify new growth opportunities Mangala current productionIncreased Ravva Master 125kbopd; Click to edit subtitle style potential to reach reserves by 20% in 150 2010 kbopd* >16 years of low cost Crude transports operations in through Pipeline Ravva >3,000 km2 in Barmer Basin under contract Resource base at 6.5 bn boe Frontier exploration drilling to commence in Sri Lanka Exploration and Appraisal drilling in KG-ONN-2003/1 Initiatives to slow Monetise Barmer MBA approved down 12/15/11production Hill peak decline – 4D (BH) & Other production at 175 seismic, Infill GBA: Gas Balancing Agreement, * subject to Joint Venture (JV) and GoI approval, ** subject to JV and GoI approval Fields; investments kbopd drilling BH DoC filed, FDP & additional New plays in Rajasthan
Slide 6: 6 Financial Highlights Q1 FY 2011 - 12 Net Revenue ~USD 830 million EBIDTA ~USD 706 million Profit After Tax (PAT) Click to edit Master subtitle style Cash Flow from Operations (CFFO)* Quarterly EPS ~USD 610 million ~USD 576 million Net Cash** INR expenses *CFFO is calculated as profit after tax (excluding other income) prior to non-cash 14.3 per (non-cash share employee cost, depreciation, depletion, amortisation, and deferred tax) and exploration cost 12/15/11 Gross Cumulative RJ Development The company started sharing Profit Petroleum with the GoI in the Rajasthan block at the rate of 20% under the Capex** ~USD 1,025 Production Sharing Contract (PSC) framework million ** as on 30 June, 2011
Slide 7: 7 Financial Highlights Q1 FY12 Q4 FY11 Q3 FY11 Q1 FY11 Q2 FY11 Price Realization (USD/boe) Gross Production (Kbopd) 1 0 94 172 2 161 Reve nue 8 3 0 8 0 8 8 0 0 7 4 6 6 7 8 9 5 174 5 0 2 0 0 0 0 5 1 Click to edit Master 1subtitle style 0 0 0 165 1 8 24 0 0 5 7 7 4 0 USD 0 Million Cash Flow from Operations 6 0 0 6 9 1 Q1 FY12 Q4 FY11 Q3 FY11 P A T 5 4 3 6 1 0 5 7 6 4 5 5 5 7 7 12/15/11 Q2 FY11 Q1 FY11 6 2 0 2 0 0 3 4 1 400 USD Million 4 4 8 6 0 0 8 0 0 0 1 0 8 3 3 7 2 0 0 400 USD Million 6 0 0 8 0 0
Slide 8: 8 Rajasthan - Frontier to Producing&Basin Exploration Frontier Exp. 1995 2002 Appraisal Development & Production Mangala Mangala Processing Terminal Click to edit Master subtitle style Bhagyam Aishwariya Oil Guj ara t Gas Kandla Viram gam Rajasthan 12/15/11 Refineries to Tankers Raageshwari  Jamnaga r / Koyali Coastal Salaya Bhogat 25 discoveries to date
Slide 9: 9  Mangala production ~125,000 bopd; reservoir performance as per expectations  148 Mangala wells drilled; 96 completed, 64 producing  Saraswati commenced production in May 2011; currently producing at the rate of 250 bopd  Produced and sold >50 mmbbls of crude to Indian refiners; gross cumulative field revenue in excess of USD 4 billion to date  Construction activity on Train 4 at MPT commenced; expected to commission in Q4 CY 2011 to take the capacity to 205,000 bopd  Reservoir performance & surface facilities ready to support Mangala 12/15/11 production of 150,000 bopd; subject to JV and GoI approval  Bhagyam development on track; 33 wells drilled, expected to Rajasthan Update MPT Click to edit Master subtitle style Pipeline Total Pipe Diameter 790 mm (32”) High Density Polyethylene Wrap Heat Tube
Slide 10: 10  World’s longest continuously heated & insulated pipeline operational Rajasthan - Crude Marketing Delivery through ~590 km heated pipeline from Barmer to Salaya Mang ala  Sales arrangements in place for 155,000 bopd • With PSU & Private refineries • Discussions continue with GoI for further nominations Radhanpur Reference to  • Crude Pricing comparable low sulphur crude Bonny • Light represents a 10-15% discount to Brent on Price basis of prices prevailing for 12 months to June 2011  Completion of Salaya to Bhogat section of pipeline including Bhogat terminal & marine facility for H2 scheduled CY 2012 • Access to 75% of India’s refining 12/15/11 capacity Click to edit Master subtitle style Ka ndl a Jamn agar / Salay a Viram gam Bh og at K oy ali Tankers to Coastal Refineries Pipeline Route Existing Pipelines Refinery
Slide 11: 11 Rajasthan - Future Resource And Value Potential Gross Initial In Place Volumes ~6.5 Billion boe Most Likely ~2.5 Billion boe in ~4 Billion boe 35+ prospects G G a Is I P Oil ST OII P Prosp ective In Pla ce Gross Reserves, Resources 1 and Potential 2 1 4 0 25 0 3 0 8 Contin gent In Place 20 additional discovered fields including Barmer 2 Hill 9 Click to edit Master subtitle style 2.1 Billion boe 7 0 R& 7 6 6 7 8 S 12 A R&S STOIIP M B A E O R BH d + Prosp Oth ective 1 The ers independent estimates of Riske Reserves and Contingent Resources urce recently prospects audited by 2 Top 35 risked resource 178 D&M carried out by D&M are mmbbls in line with the CIL estimates Reso 4 6 8 MBA FDP approved Fields, Risked Raageshwa ri and Saraswati 3 1, 29 3 M B A R & S Conti ngent MBA 12/15/11 mmbbls STOII P 2P +2 C 1 5 1 B MBA EOR Reso urce Barmer Hill mm +Other bbl Fields Prosp ects, Leads & Conce pts s Data as per 23 March, 2010 press
Slide 12: 12 Rajasthan - Vision For Growth Processing Terminal M B A Technical and FDP • • • • Operational Click to edit Master subtitle style Approv FDP 175, 000 Approv ed Produc bopd tion Mangala Capacity ed 205,000 Produc bopd tion Regulat ory Reservoir Performance EOR Pilot Implementation BH Pilots and Development Exploration and Appraisal • JV Approvals • Additional Sales Facilities and pipeline EOR full field implementation BH staged development Exploration Tar get Potential Production 240,000 bopd Investm ent • • • • 12/15/11
Slide 13: 13 Exploration Programme  Major long term player  Large proprietary database   10 years: Success ratio ~50% Experienced team Successful exploration over  Play based approach to building portfolio  Diversity of basin, plays and environments  Ongoing regional petroleum system studies  “Drill Bit exploration”: >190 exploratory /appraisal wells ClickRJ-ON-90/1 to edit Master subtitle style Assessing new plays, generate new prospects KG-ONN-2003/1 Nagayalanka-1Z discovered; Further Exploration & INDI A MB-DWN-2009/1 Exploration activity Acquired 300 km2 3D; in commenced; 2D seismic data processing in Q1 CY 2012 2011-12 Appraisal drilling FY KG-DWN-98/2 3 appraisal wells drilled KG-OSN2009/3 3D seismic planned RAVVA by drilling Infillend 2011 progress progress 12/15/11 KK-DWN-2004/1001 OPERATED NONOPERATED SL-2007-01SRI in LANKA Drilling to commence in August 2011 – 3 wells PR-OSN2004/1 Under Force Majeure
Slide 14: 14 Exploration - Sri Lanka Block (SL 2007-01-001) Block Area: ~3,000 km2 • Water depth: 400 • -1,900m  Cairn Lanka 100% Working Interest (NOC backin 15%)  iExtension of proven hydrocarbon play (Cauvery / Mannar) In dia Click to edit Master subtitle style  Under explored, frontier basin with multiple  plays Exploration Program generation drillship contracted 5th • from Japan Drilling CompanyAugust 2011; Drilling to commence in • 3 wells planned SL-2007-01001 SRI LANKA 12/15/11 5 0 k m
Slide 15: 15 Rajasthan – Capex & Funding Cap ex Gro ss N e t Financed By  Net Cash**  Existing debt facility** Total 1. 0 USD billion 3 0. 6 8 1. 7 0 Exploration (up to 0. 6 2006)* 1 Developm ent CY 0. Click to edit Master subtitle style 3 2007 1 1. CY 2008 & 2009 76 CY2010 Total Capex up to CY 2010 Estimated CY 2011 0. 75 3. 43 0. 5 7 0. 2 2 1. 23 0. 50 2. 52 Additional Sources  Cash flow from producing blocks 12/15/11 i.e. Total Actual & Estimatedinitial years the entire exploration costs was borne by Cairn India and hence the net number is > *Exploration Cost: During the Rajasthan, Ravva and CB 1. 0. 70%. ** data as on 30 June, 2011 25 88
Slide 16: 1 6 Engaging with the Community Strategic Intent  Proactive engagement with stakeholders  Demonstrate leadership in corporate citizenship  principles of respect, relationship Partnering with communities through our and responsibility Areas of Click to edit Master subtitle style Focus   Infrastructure Education  Health  Economic Development 12/15/11
Slide 17: 17 Summary Mangala production at its currently approved plateau of 125,000 bopd • Delivery to domestic refiners through pipeline • Gross • Rajasthan field revenue in excess of USD 4 billion Enhanced oil recovery potential; pilot ongoing • World class resource base – focussed on delivery & growth • Vision to produce 240,000 bopd • Strong economic contribution to the State of Rajasthan and Government of • Click to edit Master subtitle style India  Initiatives to slow down the rate of production decline in Ravva and CB  Proven record of fast track, low cost development and production; Field Direct Opex – USD 2.3/bbl*  Success through innovative application of technology 12/15/11  Increasing exploration potential; enhanced resource base through NELP VIII
Slide 18: 1 8 Contact Details Investor Relations Mantri, Group Financial Anurag Controller Email: cilir@cairnindia.com M: +91 – 98103 01321 Me dia Manu Kapoor, Director – Corporate Affairs & Click to edit Master subtitle style Communications Email: cilmediainfo@cairnindia.com M: +91- 97178 90260 Addre ss Cairn India Ltd Floor, Vipul 4th Plaza Sun City, 122 002, Gurgaon SectorIndia 54 12/15/11 www.cairnindia.com