CAIRN INDIA

Corporate Presentation July J l 2011

Disclaimer
These materials contain forward looking statements regarding Cairn India our corporate plans future financial forward-looking India, plans, condit ion, 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 results, 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 t h l f technology, acts of competitors and other changes t b i t f tit d th h to business conditions. C i diti Cairn I di undertakes no India d t k obligation to revise any such forward-looking statements to reflect any changes in Cairn Indias expectations with regard thereto or any change in circumstances or events after the date hereof.

Holding Structure
IPO December 2006
2.6%

7.1%

Listed on BSE & NSE in January 2007

9.4%

Part of NIFTY index & DJIT30

52.1%

Over 200,000 Indian retail shareholders

28.8% 28 8%

Market Cap >USD13 billion; amongst Indias top 20

Cairn PLC Vedanta Group Institutions FII Retail

Total Equity of 1,902 million shares; Free float ~19%*

DJIT30: Dow Jones India Titans 30 Index, *Free float excludes Vedanta Groups holding

As on 27July, 2011

World Class Asset Base

Production Blocks
Rajasthan (RJ-ON-90/1) Cairn (Operator) ONGC 70% 30% East Coast KG-DWN-98/2 Cambay (CB/OS-2) (CB/OS 2) Cairn (Operator) ONGC Tata Petrodyne 40% 50% 10% West Coast CB/OS-2 Ravva (PKGM 1) R (PKGM-1) Cairn (Operator) ONGC Videocon Ravva Oil 22.5% 40% 25% 12.5% Sri Lanka S iL k SL 2007-01-001 WI 100% KK-DWN-2004/1 KK DWN 2004/1 MB-DWN-2009/1 WI 40% WI 40% WI 100% KG-ONN-2003/1 PKGM-1 (Ravva) KG-OSN-2009/3 PR-OSN-2004/1 WI 10% WI 49% WI 22.5% WI 100% WI 35% 10 blocks in the Portfolio

Exploration Potential
Rajasthan RJ-ON-90/1 WI 70%

Q1 FY 2011-12: Average Daily Gross operated production at 171,801 boe; Cairn (Working Interest) at 99,640 boe

Growth Strategy
Maximise recovery from production base
Increased Ravva reserves by 20% in 2010 >16 years of low cost operations in Ravva Initiatives to slow down production decline 4D seismic, seismic Infill drilling GBA agreement for sharing gas from the shared reservoir in CB/OS-2

Execute Rajasthan development

Mangala current production-125kbopd; p potential to reach 150 kbopd* Crude transports through Pipeline MBA approved peak production at 175 kbopd Increased recovery through EOR; pilot ongoing

Maximise Potential in Rajasthan

>3,000 km2 in Barmer Basin under contract Resource base at 6.5 bn boe Monetise Barmer Hill (BH) & Other Fields; BH DoC filed, FDP under preparation Vision to produce 240 kbopd**

Identify new growth opportunities

Frontier exploration drilling to commence in Sri Lanka Exploration and Appraisal drilling in pp g KG-ONN-2003/1 p y New plays in Rajasthan Existing portfolio enhancement

GBA: Gas Balancing Agreement, * subject to Joint Venture (JV) and GoI approval, ** subject to JV and GoI approval & additional investments

Financial Highlights Q1 FY 2011 - 12

Net Revenue EBIDTA Profit After Tax (PAT) Cash Flow from Operations (CFFO)* Quarterly EPS Net Cash** Gross Cumulative RJ Development Capex**

~USD 830 million ~USD 706 million ~USD 610 million ~USD 576 million INR 14.3 per share ~USD 1,025 million ~USD 3,115 million

*CFFO is calculated as profit after tax (excluding other income) prior to non-cash expenses (non-cash employee cost, depreciation, depletion, amortisation, cost depreciation depletion amortisation and deferred tax) and exploration cost The company started sharing Profit Petroleum with the GoI in the Rajasthan block at the rate of 20% under the Production Sharing Contract (PSC) framework ** as on 30 June, 2011

Financial Highlights
Price Realization (USD/boe) Q1 FY12 Q4 FY11 Q3 FY11 Q2 FY11 Q1 FY11 0 50 74 68 67 95 100 150 200 0 92 Gross Production (Kbopd) 104 172 161 174 165 184 200 400 USD Million PAT Q1 FY12 Q4 FY11 Q3 FY11 Q2 FY11 Q1 FY11 0 62 200 400 USD Million 600 800 0 341 108 200 400 USD Million 600 800 448 337 543 455 610 Cash Flow from Operations 576 577 600 800 577 691 Revenue 830 808

Rajasthan - Frontier to Producing Basin

Frontier Exp. 1995 - 2002 Exploration & Appraisal Development & Production
Mangala

Mangala Processing Terminal

Bhagyam

Aishwariya

Oil Gas

Rajasthan
Raageshwari

Gujarat
Kandla

Viramgam

Jamnagar / Salaya Bhogat

Koyali y

Tankers to Coastal Refineries

25 discoveries to date >3,000 km approved development area

Rajasthan Update
Mangala production ~125,000 bopd; reservoir performance as per expectations t ti 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 production of 150,000 bopd; subject to JV and GoI approval Bhagyam development on track; 33 wells drilled, expected to commence production in Q4 CY 2011; subject to GoI approval Development of Aishwariya underway; plan to commence production in H2 CY 2012, subject to JV and GoI approval
Data as per 26 July, 2011 press release
Poly Urethane P l U th Foam Insulation

MPT

Pipeline

Total Pipe Diameter 790 mm (32) High Density Polyethylene Wrap

Heat Tube

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Rajasthan - Crude Marketing

Worlds longest continuously heated & insulated pipeline operational Sales arrangements in place for 155,000 bopd With PSU & Private refineries Discussions continue with GoI for further nominations
Radhanpur

Delivery through ~590 km heated pipeline pp from Barmer to Salaya

Mangala

Crude Pricing Reference to comparable low sulphur crude - Bonny Light Price represents a 10-15% discount to Brent on basis of prices prevailing for 12 months to June 2011 Completion of Salaya to Bhogat section of pipeline including Bhogat terminal & marine facility scheduled for H2 CY 2012 Access to 75% of Indias refining capacity capacit

Kandla

Viramgam

Bhogat

Jamnagar / Salaya

Koyali

Tankers to Coastal Refineries

Pipeline Route Existing Pipelines Refinery

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Rajasthan - Future Resource And Value Potential

~6.5 Billion boe

Gross Initial In Place Volumes

~2.5 Billion boe in 35+ prospects

Most Likely Prospective

Gross Reserves, Resources 1 and Potential 2

250 140
Risked Prospective Resource

~4 Billion boe

In Place

Gas GIIP

308

BH + Others

20 additional discovered fields including Barmer Hill

Oil STOIIP

Contingent In Place

1 The independent estimates of Reserves

707
R & S 12

MBA EOR

and Contingent Resources recently carried out by D&M are in line with the CIL estimates 2 Top 35 prospects audited by D&M risked resource 178 mmbbls

2.1 Billion boe

78 293
R & S STOIIP

A 66 B 151 M 477 MBA STOIIP

468
MBA Fields, Raageshwari g and Saraswati FDP approved

1,293 1 293

R&S

Contingent Resource

2P+2C

MBA EOR

Barmer Hill +Other Fields

Risked Prospects, Leads & Concepts

mmbbls

mmbbls

Data as per 23 March, 2010 press release

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Rajasthan - Vision For Growth

Mangala Processing Terminal MBA

FDP Approved Production Capacity 205,000 bopd FDP Approved Production 175,000 bopd

Target Technical and Operational

Reservoir Performance EOR Pilot Implementation BH Pilots and Development Exploration and Appraisal

Potential Production 240,000 240 000 bopd

Regulatory

JV Approvals Additional Sales

Investment

Facilities and pipeline EOR full field implementation BH staged development Exploration

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Exploration Programme
Major long term player Large proprietary database Experienced team Successful exploration over 10 years: Success ratio ~50% 50%
RJ-ON-90/1
Assessing new plays, generate new prospects

Play based approach to building portfolio Diversity of basin, plays and environments Ongoing regional petroleum system studies Drill Bit exploration: >190 exploratory /appraisal wells

KG-ONN-2003/1
Nagayalanka-1Z Nagayalanka 1Z discovered; Further Exploration & Appraisal drilling FY 2011-12

MB-DWN-2009/1
Exploration activity commenced; 2D seismic d i i in Q1 CY 2012 KK-DWN-2004/1 Acquired 300 k 2 3D A i d km 3D; data processing in progress
OPERATED NON-OPERATED NON OPERATED

I N D I A RAVVA
Infill drilling in progress

KG-DWN-98/2
3 appraisal wells drilled

KG-OSN-2009/3
3D seismic planned by end 2011

SL-2007-01-001 SL 2007 01 001

Drilling to commence in August 2011 3 wells

PR-OSN-2004/1 SRI LANKA

Under Force Majeure

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Exploration - Sri Lanka Block (SL 2007-01-001)

Cairn Lanka 100% Working Interest (NOC backin i 15%) Block Area: ~3,000 km2 Water depth: 400 -1,900m Extension of proven hydrocarbon play (Cauvery / Mannar) Under explored, frontier basin with multiple plays Exploration Program 5th generation drillship contracted from Japan Drilling Company Drilling to commence in August 2011; 3 wells planned
SL-2007-01-001

India

SRI LANKA

50km

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Rajasthan Capex & Funding

USD billion

Capex
Exploration (up to 2006)* Development

Gross
0.61

Net
0.57

Financed By
Net Cash** E i ti d bt f ilit ** Existing debt facility** 1.03 0.68 0 68 1.70

CY 2007 CY 2008 & 2009 CY2010 Total Capex up to CY 2010 Estimated CY 2011 Total Actual & Estimated

0.31 1.76 0.75 3.43 1.25 4.68

0.22 1.23 0.50 2.52 0.88 3.40 Additional Sources Cash flow from producing blocks i.e. Rajasthan, Ravva and CB Total

*Exploration Cost: During the initial years the entire exploration costs was borne by Cairn India and hence the net number is > 70%. ** data as on 30 June, 2011

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Engaging with the Community

Strategic Intent Proactive engagement with stakeholders Demonstrate leadership in corporate citizenship Partnering with communities through our principles of respect, relationship and responsibility Areas of Focus Education Infrastructure Health Economic Development

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Summary
Rajasthan M Mangala production at i currently approved plateau of 125 000 b d l d i its l d l f 125,000 bopd Delivery to domestic refiners through pipeline Gross 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 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 Increasing exploration potential; enhanced resource base through NELP VIII Sri Lanka frontier exploration drilling campaign to commence in August 2011
* For the period FY 2010-11

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Contact Details
Investor Relations Anurag Mantri, Group Financial Controller Email: cilir@cairnindia.com M: 91 M +91 98103 01321 Media Manu Kapoor, Director C M K Di Corporate Aff i & Communications Affairs C i i Email: cilmediainfo@cairnindia.com M: +91- 97178 90260 Address Cairn India Ltd 4th Floor, Vipul Plaza Sun City, Sector-54 Gurgaon 122 002, India www.cairnindia.com