CAIRN INDIA

Corporate Presentation

N b 2011November 2011

2

DisclaimerDisclaimer

These materials contain forward looking statements regarding Cairn India our corporate plans future financialThese materials contain forward-looking statements regarding Cairn India, our corporate plans, future financialcondit ion, future results of operat ions, future business plans and strategies. Al l such forward- lookingstatements are based on our management's assumptions and beliefs in the light of information available tothem at this t ime. These forward-looking statements are, by their nature, subject to significant risks anduncertaint ies and actual results performance and achievements may be material ly dif ferent from thoseuncertaint ies and actual results, performance and achievements may be material ly dif ferent from thoseexpressed in such statements. Factors that may cause actual results, performance or achievements to differfrom 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

f t h l t f t it d th h t b i dit i C i I di d t kof technology, acts of competitors and other changes to business condit ions. Cairn India undertakes noobligation to revise any such forward-looking statements to reflect any changes in Cairn India’s expectationswith regard thereto or any change in circumstances or events after the date hereof.

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Holding StructureHolding Structure

IPO December 2006

Listed on BSE & NSE in January 2007

2.7%6.4%Listed on BSE & NSE in January 2007

Part of NIFTY index & DJIT30

10.0%

Over 200,000 Indian retail shareholders28 8%

52.1%

Market Cap >USD11billion; amongst India’s top 20

28.8%

Total Equity of 1,903million shares; Free float ~19%* RetailFII

InstitutionsVedanta GroupCairn PLC

DJIT30: Dow Jones India Titans 30 Index, *Free float excludes Vedanta Groups holding As on 19Oct, 2011

Institutions

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World Class Asset BaseWorld Class Asset Base

Production Blocks Exploration Potential 10 blocks in the Portfolio

Rajasthan (RJ-ON-90/1)

Cairn (Operator) 70%

ONGC 30%

Rajasthan

RJ-ON-90/1 WI 70%

Cambay (CB/OS 2)

ONGC 30%East Coast

KG-DWN-98/2 WI 10%

KG-ONN-2003/1 WI 49%Cambay (CB/OS-2)

Cairn (Operator) 40%

ONGC 50%

Tata Petrodyne 10%

PKGM-1 (Ravva) WI 22.5%

KG-OSN-2009/3* WI 100%

PR-OSN-2004/1* WI 35%Tata Petrodyne 10%

R (PKGM 1)

West Coast

CB/OS-2 WI 40%

KK DWN 2004/1 WI 40%Ravva (PKGM-1)

Cairn (Operator) 22.5%

ONGC 40%

Videocon 25%Sri Lanka

KK-DWN-2004/1 WI 40%

MB-DWN-2009/1* WI 100%

Videocon 25%

Ravva Oil 12.5%SL 2007-01-001 WI 100%

Q2 FY 2011-12: Average Daily Gross operated production at 169,944 boe; Cairn (Working Interest) at 99,220 boe

* Under Force Majure

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Growth StrategyGrowth Strategy

Maximise Execute Maximise IdentifyMaximise recovery from

production base

Execute Rajasthan

development

MaximisePotential in Rajasthan

Identifynew growth

opportunities

Increased Ravva reserves by 20% in 2010

Mangala completed 2 years of production; current production-

>3,000 km2 in Barmer Basin under contract

Discovery in first overseas venture in Sri Lanka2010

>16 years of low cost operations in Ravva

p125kbopd

Crude transports through Pipeline

Resource base at 6.5 bn boe

Sri Lanka

Exploration and Appraisal drilling in

Initiatives to slow down production decline – 4D seismic Infill drilling

through Pipeline

MBA approved peak production at 175

Monetise Barmer Hill (BH) & Other Fields; BH DoC filed, FDP under preparation

Appraisal drilling in KG-ONN-2003/1

New plays in R j hseismic, Infill drilling

GBA agreement for sharing gas from the

production at 175 kbopd

Increased recovery through EOR; pilot

under preparation

Vision to produce 240 kbopd**; significant

Rajasthan

Existing portfolio enhancementshared reservoir in

CB/OS-2

through EOR; pilot progressing well

kbopd**; significant part from MBA

enhancement

GBA: Gas Balancing Agreement, MBA: Mangala Bhagyam Aishwariya, ** subject to JV and GoI approval & additional investments

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Financial HighlightsFinancial Highlights

Q2 FY 2011-12 USD million

Net Revenue ~578

Rajasthan Capex USD million

Gross Net

EBIDTA ~450

Normalised/Reported Profit After Tax (PAT) ~461/167

Exploration 626 564

Cash Flow from Operations (CFFO)* ~428

Quarterly Normalised/Reported EPS INR 11.13/4.01 per share

Development ** 3,222 2,255

Total 3,848 2,819Qua e y o a sed epo ed S 3 0 pe s a e

Net Cash as on 30th Sept 2011 at USD 1,458 million

*CFFO is calculated as profit after tax (excluding other income) prior to non-cash expenses (non-cash employee cost, depreciation, depletion, amortisation, and deferred tax) and exploration cost, without adjusting exceptional item

The company started sharing Profit Petroleum with the GoI in the Rajasthan block at the rate of 20% under theThe company started sharing Profit Petroleum with the GoI in the Rajasthan block at the rate of 20% under the Production Sharing Contract (PSC) framework

** till 30 Sept, 2011

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Financial HighlightsFinancial Highlights

100

Price Realization (USD/boe) Gross Production (Kbopd) Revenue

161

172

170

92

104

100

Q4 FY11

Q1 FY12

Q2 FY12

808

830

578

165

174

161

68

74

Q2 FY11

Q3 FY11

577

691

0 50 100 150 200 0 200 400 600 800

PAT

USD Million

543

610

461

Q4 FY11

Q1 FY12

Q2 FY12*

PAT

576

428Cash Flow from Operations

341

448

543

Q2 FY11

Q3 FY11

Q4 FY11

337

455

577

0 200 400 600 800USD Million

0 200 400 600 800USD Million

*PAT and CFFO are without adjusting on time exceptional item of past Rajasthan royalty costs

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Rajasthan - Frontier to Producing BasinRajasthan - Frontier to Producing Basin

Development & ProductionExploration & AppraisalFrontier Exp.1995 2002

Mangala Mangala Processing Terminal

1995 - 2002

AishwariyaBhagyam

OilGas

Rajasthan

Raageshwari

ViramgamGujarat

KoyaliJamnagar

Kandla

y

Tankers toCoastal Refineries

Jamnagar / Salaya

Bhogat

25 discoveries to date>3,000 km² approved development area

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Rajasthan UpdateRajasthan Update

Mangala production ~125,000 bopd; reservoir performance as per t ti

MPT

expectations

Produced and sold >60 mmbbls of crude to Indian refiners; gross cumulative field revenue in excess of USD 5 billion to date

Bhagyam development on track; 47 wells drilled, expected to commence production in Q4 CY 2011; subject to GoI approval Pipeline

Expect to exit FY 2011-12 at 175,000bopd with the support of JV and GoI

Total Pipe Diameter 790 mm (32”)

High Density

Development of Aishwariya underway; plan to commence production in H2 CY 2012, subject to JV and GoI approval

Si ifi t t f tl i d b i t ti l f 240 000

Polyethylene Wrap

Significant part of currently envisaged basin potential of 240,000 bopd to be met from MBA fields

Augmentation of processing capacity and pipeline infrastructure toP l U th

Heat Tube

Augmentation of processing capacity and pipeline infrastructure to deliver currently envisaged basin potential in 2013

Poly Urethane Foam Insulation

Data as per 20 Oct, 2011 press release

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Rajasthan - Crude MarketingRajasthan - Crude Marketing

World’s longest continuously heated & insulated Mangala

Delivery through ~590 km heated pipeline

pipeline operational

Sales arrangements in place for 155,000 bopd

Mangalap pfrom Barmer to Salaya

• With PSU & Private refineries

• Discussions continue with GoI for further nominations

Radhanpur

Crude Pricing

• Reference to comparable low sulphur crude - Bonny Light

ViramgamKandla

Radhanpur

• Price represents a 10-15% discount to Brent on basis of prices prevailing for 12 months to Sept 2011

KoyaliJamnagar

/ SalayaBhogat

Completion of Salaya to Bhogat section of pipeline including Bhogat terminal & marine facility scheduled for H2 CY 2012

Access to 75% of India’s refining capacit

Tankers to Coastal Refineries

• Access to 75% of India’s refining capacity

Refinery

Existing Pipelines

Pipeline Route

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Rajasthan - Future Resource And Value PotentialRajasthan - Future Resource And Value Potential

Gross Initial~6.5 Billion boe 250Gross

1Gross InitialIn Place Volumes

~4 Billion boeIn Place

Prospective

Most Likely

Gas

140

Risked ProspectiveResource

~2.5 Billion boe in35+ prospects

Reserves, Resources 1

and Potential 2

20 additionaldiscovered

fields includingContingent

In Place

GasGIIP

OilSTOIIP

MBA

308 BH+ Others

1 The independent estimates of Reserves and Contingent Resources recentlyfields including

Barmer Hill

2.1 Billion boeR & S STOIIP

78

R & S 12

A 66

707MBA 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

MBA Fields,Raageshwari MBA

R & S STOIIP

1 293

468

293

M477

B151

gand SaraswatiFDP approved

MBASTOIIP1,293

M B A R & S ContingentResource

2P+2C MBA EORBarmer Hill

+Other Fields

RiskedProspects,

Leads & Concepts

mmbblsmmbbls

Data as per 23 March, 2010 press release

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Rajasthan - Vision For GrowthRajasthan - Vision For Growth

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

Technical and Operational

FDP

Current Envisaged

Basin potential240 000 bopd

• JV Approvals• Additional SalesRegulatory

ApprovedProduction

175,000bopd

240,000 bopd

• Facilities and pipeline• EOR full field implementation• BH staged developmentInvestment• Exploration

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Exploration ProgrammeExploration Programme

Major long term player Play based approach to building portfolio Major long term player Large proprietary database Experienced team Successful exploration over 10

years: Success ratio ~50%

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 discovered;

RJ-ON-90/1Assessing new plays,

generate new prospects

years: Success ratio 50% /appraisal wells

Nagayalanka-1Z discovered; Further Exploration &

Appraisal drilling FY 2011-12

I N D I AMB-DWN-2009/1

U d F M jRAVVA

Infill drilling completed

KK-DWN-2004/1

A i d 300 k 2 3D

Under Force Majeure

SL 2007 01 001

Acquired 300 km2 3D;data processing in

progress

NON OPERATED

OPERATED

KG-DWN-98/2

3 appraisal wells drilled

KG-OSN-2009/3Under Force

Majeure

PR-OSN-2004/1

Under Force Majeure

SL-2007-01-001

3 exploration well program: 1st well encountered hydrocarbon, 2nd well

drilling in progressSRI LANKA

NON-OPERATED

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

Cairn Lanka 100% Working Interest (NOC back-i 15%)

India

in 15%)

• Cairn India first overseas venture

• Block Area: ~3,000 km2

• Water depth: 400 -1,900m

Extension of proven hydrocarbon play (Cauvery / Mannar)/ Mannar)

Under explored, frontier basin with multiple plays

SL-2007-01-001 Exploration Program

• 5th generation drillship contracted from Japan Drilling Company

SRI LANKA

Japan Drilling Company

• Drilling commenced in August 2011; 3 exploration wells program

• 1st well encountered hydrocarbon; 25 meter

50km

• 1 well encountered hydrocarbon; 25 meter hydrocarbon column

• 2nd exploration well drilling in progress

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Engaging with the CommunityEngaging with the Community

Strategic IntentStrategic Intent

Proactive engagement with stakeholders

Demonstrate leadership in corporate citizenship

Partnering with communities through our Partnering with communities through our principles of respect, relationship and responsibility

Areas of Focus

Education

Infrastructure

Health

EconomicDevelopment

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SummarySummary

Rajasthan

M l d i i l d l f 125 000 b d• Mangala production at its currently approved plateau of 125,000 bopd

• Delivery to domestic refiners through pipeline

• Gross field revenue in excess of USD 5 billion

• Enhanced oil recovery potential; pilot ongoing

• World class resource base – focussed on delivery & growth

• Vision to produce 240,000 bopd; achieve significant part from MBA

• 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 Success through innovative application of technology

First overseas discovery made in Sri Lanka; 2nd well drilling in progress

* For the period FY 2010-11

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Contact DetailsContact Details

Investor RelationsInvestor Relations

Anurag Mantri, Group Financial Controller

Email: cilir@cairnindia.com

M 91 98103 01321M: +91 – 98103 01321

Media

M K Di C Aff i & C i iManu Kapoor, Director – Corporate Affairs & Communications

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