Vedantaindiaoperationssitevisit corporatepresentation[1]

VEDANTA RESOURCES PLC
India Operations Site Visit:
Corporate Presentation
24 SEPTEMBER 2012

Cautionary Statement and Disclaimer
The views expressed here may contain information derived from publicly available sources that have not been
independently verified.
No representation or warranty is made as to the accuracy, completeness, reasonableness or reliability of this
information. Any forward looking information in this presentation including, without limitation, any tables, charts
and/or graphs, has been prepared on the basis of a number of assumptions which may prove to be incorrect. This
presentation should not be relied upon as a recommendation or forecast by Vedanta Resources plc ("Vedanta").
Past performance of Vedanta cannot be relied upon as a guide to future performance.
This presentation contains 'forward-looking statements' – that is, statements related to future, not past, events. In
this context, forward-looking statements often address our expected future business and financial performance,
and often contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' or 'will.' Forward–
looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties
arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in
interest and or exchange rates and metal prices; from future integration of acquired businesses; and from
numerous other matters of national, regional and global scale, including those of a environmental, climatic, natural,
political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future
results to be materially different that those expressed in our forward-looking statements. We do not undertake to
update our forward-looking statements.
This presentation is not intended, and does not, constitute or form part of any offer, invitation or the solicitation of
an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities in Vedanta or any
of its subsidiary undertakings or any other invitation or inducement to engage in investment activities, nor shall
this presentation (or any part of it) nor the fact of its distribution form the basis of, or be relied on in connection
with, any contract or investment decision.
FY2012 INDIA OPERATIONS SITE VISIT – CORPORATE PRESENTATION - 24 SEPTEMBER 2012 2

Agenda
3FY2012 INDIA OPERATIONS SITE VISIT – CORPORATE PRESENTATION - 24 SEPTEMBER 2012
Overview Navin Agarwal, Deputy Executive Chairman
Vedanta Market Positioning
Business and Operations
M.S. Mehta, Chief Executive Officer
Financials D.D. Jalan, Chief Financial Officer
Sustainable Development Tony Henshaw, Chief Sustainability Officer

Site Visit Itinerary
Tuesday - 25 September
1. Jharsuguda Aluminium
and Power plants
Wednesday - 26 September
2. Rampura Agucha mine
Dariba smelters
Sindesar Khurd mine
Thursday - 27 September
3. Rajasthan (Mangala)
oil fields
Friday - 28 September
4. Goa Iron ore mines
India Operations Site Visit
Iron Ore
• Goa
Zinc-Lead-Silver
• Rampura Agucha mine
• Dariba smelters
• Sindesar Khurd mine
Aluminium
• Jharsuguda smelter
Power
• Jharsuguda power
Oil & Gas
• Rajasthan
Mumbai
S.K. Roongta
CEO, Aluminium
and Power
11
22
33
44
P. Elango
Interim CEO, Cairn India
Oil & Gas Goa
Jharsuguda
Agucha,
Dariba,
Sindesar Khurd
Barmer
Akhilesh Joshi
CEO, Hindustan Zinc
Zinc India
P. K. Mukherjee
CEO, Sesa Goa
Iron Ore

Overview
Navin Agarwal
Deputy Executive Chairman

Highlights
Vedanta: A Global Diversified Natural Resources Major
World-class portfolio of large, structurally low-cost, scalable assets with long life of R&R
Strong financial profile supported by diversified cash flow growth
Delivering industry-leading production growth driven by substantially invested projects
Recent acquisitions provide additional growth options
323
5,353
FY2004 FY2012
proforma
EBITDA (US$mn)
+42% CAGR
Free Cash Flow (US$mn)
335
3,128
FY2004 FY2012
proforma
+32% CAGR
Underlying EPS (USc/share)
27
209
FY2004 FY2012
proforma
+29% CAGR
Note: FY2012 numbers are proforma with Cairn India for full year

Strategic Priorities
Deliver industry-leading production growth across our portfolio
Continue to add reserves and resources to drive long-term value
Complete the simplification of the Group structure
Minority buyouts at HZL and BALCO
Reduce gearing from free cash flow
Growth and Long-Term Value Creation with a Focus on Sustainability

Optimising Group Structure
Restructuring on track for completion in CY2012
Consolidates and simplifies group structure,
eliminates cross-holdings
Financial Benefits:
− Delivers significant synergies upto $200mn/yr
− Improves capital structure
− Improves allocation and cost of capital
− Enhances fungibility of cash
− Enhances visibility of earnings and cash flows
Reduces Debt service liability at plc by 61% to
$3.9bn
Minority Buyouts
Buyout of government stake in HZL and BALCO
remains a priority
Konkola
Copper
Mines
Vedanta Resources
Power
Sesa Sterlite
Alumi-
nium
Oil & Gas
Zinc-
Lead-
Silver
Copper
Iron
Ore
HZL
Zinc Int’l
Sesa Goa
WCL
Cairn
India
Tuticorin
CMT
BALCO
VAL
Talwandi
Sabo
Jharsuguda
BALCO
MALCO
58.3%79.4%
Note: Shareholding based on basic shares outstanding

Tier-1 Diversified Asset Portfolio
FY2012 INDIA OPERATIONS SITE VISIT – CORPORATE PRESENTATION - 24 SEPTEMBER 2012
FY2012
Production
Target
Capacity R&R Life1 Sustainable Cost Position2
830kt 1mtpa 25+ Lowest Quartile
444kt 400ktpa 20+
3
Lower Half
7.8moz 16mozpa 25+ By-product
173kboepd 260kboepd
4
17 Lowest Quartile
13.8mt 20.5mtpa
4
18
5
Lowest Quartile
200kt 400ktpa 24+
6
Lower Half
675kt 2.3mtpa
Currently Lower Half; Lowest
Quartile with Captive Bauxite
Zinc India
Zinc Intl.
Silver
Iron Ore5
Copper Zambia
Aluminium
Note: 1. At capacity
2. Cost position for base metals from Wood-Mackenzie, Iron ore from Metalytics ,and Oil & Gas from Company Study
3. Includes Gamsberg
4. For current producing assets, subject to approvals
5. Does not include Liberia
6. Mine life of Konkola Deeps
Large, Low-Cost, Long-Life, Scalable Assets
Oil & Gas
9

A Global Diversified Natural Resources Major
FY12/CY11
EBITDA
($bn)
PE
Multiple
BHP Billiton 33.7 9.9
Vale 33.8 5.8
Rio Tinto 28.5 7.8
Anglo American 13.3 9.7
Xstrata 11.6 11.2
Teck 5.5 9.6
Vedanta 5.3 5.0
ENRC 3.4 6.9
Top Global Diversified Natural Resources Companies
38%
23%
30%
16%
10%
37%
13%
37%
69%
98%
52%
13%
36%
46%
28%
17%
7%
15%
48%
33%
15%
10%
6%
3%
6%
4%
46%
2%
11%
2%
21%
14%
2%
2%
O&G Zinc-lead Iron ore¹
Copper Base metals² Coal
Aluminium Ferroalloys Other
Scale and Diversification
Source: Company filings and broker reports. PE multiples based on BEST next year PE estimate from Bloomberg as of 14 September 2012. Vedanta numbers are proforma with Cairn India for full year FY2012.
Note: Commodity split based on pro forma EBITDA for Vedanta and EBIT for major diversified mining companies.
1. For Vale, Iron ore includes all ferrous metals
2. For BHP, base metals includes copper and zinc-lead. For Xstrata, base metals includes nickel.

Strong and Consistent Profitability
Notes: 1. Excludes copper custom smelting operations
2. Oil and Gas EBITDA margins have been calculated after adding back Rajasthan royalties and profit sharing with government to revenues. EBITDA margin based on reported revenues was 81%.
10%
23%
27%
30%
41%
43%
54%
56%
41%Group
Aluminium
Copper Zambia
Power
Copper Australia
Zinc- International
Iron Ore
Zinc- India
Oil & Gas²
1
FY2012 EBITDA Margins by Segment
33% 33%
41%
59%
55%
35%
43%
45%
41%
1,636
3,756
FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12
Group EBITDA margin¹ Average LMEX
Consistent Profit Margins
Profitability driven by Asset Quality and Diversification
18%
31%
18%
9%
2%
3%
10%
4%
Share of
EBITDA

1.8
2.3
3.1
3.7
2.5
2.2
1.5
1.7
1.3
0.5
-
FY2010 FY2011 Proforma
FY2012
FY2013e FY2014e FY2015e
Free Cash Flow¹ Capex-ex-Cairn Capex-Cairn²
Notes: 1. Free cash flow after Sustaining Capex but before Growth Capex
2. Capex net to Cairn India; part of FY2014e capex is subject to Government of India approval; FY2015e capex has not been announced. Shaded portions pertain to growth not reflected in the RHS capacity growth chart.
3. All metal and power capacities rebased to copper equivalent capacity (defined as production x commodity price / copper price) using Long Term commodity price estimates. Power rebased using FY2012 Realisations.
Copper custom smelting capacities rebased at TC/RC for FY2012
Free Cash Flow at an Inflection Point
Well-Invested Capex Driving Near-Term Growth
Cash Flow and Growth Capex Profile - $bn
12
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
FY 2011 FY 2012 FY 2013 FY 2014 FY 2015
Zinc-Lead Silver Iron Ore Copper
Aluminium Power Oil & Gas
Year-end Capacity (in Copper Equivalent kt)3
1.6
0.4

Vedanta Market Positioning
M.S. Mehta
Chief Executive Officer

Resourcing India
India
Strong demographics and urbanization driving metal
consumption growth
Abundant reserves to support further domestic
production
Vedanta uniquely positioned as domestic suppluer of
key commodities
Note: Source: Wood Mackenzie for metal consumption
1. Commodity data represents Total estimated Reserves and Resources based upon public sources including GSI, GOI, Brook Hunt, UNFC, IBM, and E&Y.
40%
54%
5%
7%
0.3
0.5
1.0
2.0
4.1
8.2
16.4
2005 2010 2015 2020 2025 2030
Annualdemandinmntonnes
(logarithmicscale)
Zinc Consumption Estimates – India and China
41%
53%
4%
7%
1
10
100
2005 2010 2015 2020 2025 2030
Aluminium Consumption Estimates – India and China
Annualdemandinmntonnes
(logarithmicscale)
Size of bubble indicates
% of world consumption
Size of bubble indicates
% of world consumption
R&R and Consumption: India and World
3,305
2,004
Bauxite R&R (mt) Al Consumption
2012e (kt)
31
634
Zinc R&R (mt) Zn Consumption
2012e (kt)

Proximity to Rapidly Growing Markets
India
48%
China
20%
Other Far
East and Asia
11%
Middle East
and Africa
9%
Rest of the
World
12%
Vedanta Revenues by Geography
FY2012
82%
30%
6%
39%
33%
5%
Zinc Lead Silver Copper Aluminium Oil
Strong Market Positioning in India
FY2012 India Market Shares
#1 #1 #1 #1 #2
Notes: Rank excludes imports. Oil & Gas production numbers considered instead of sales.
Source: Wood Mackenzie, Indian Ministry of Petroleum and Natural Gas, IBIS, company sources
India Operations: Domestic Sales as % of Total Sales
FY2012
58%
81%
100%
62%
80%
19%
100%
Zinc India
- Zinc
Zinc India
- Lead
Silver Copper
India
Aluminium Iron Ore Oil and
Gas
#1
6% 5% 10% 8% 9% 10% 4%
2010-25 India Consumption CAGR %
Note: Consumption CAGR over 2010-25 for base metals as per Wood-Mackenzie estimates.
For Iron Ore, steel consumption CAGR over FY2012-17 as per Ministry of Steel, India considered.
Silver consumption growth rate over 2012-2025 as per Ministry of Mines, India.
Oil & Gas consumption growth rate over 2008-2035 as per EIA.

India Africa
Operations
Largest diversified resources major in India
Largest producer of Aluminium, Copper,
Zinc, Lead, Silver
2nd largest crude oil producer
Largest zinc producer in Africa
Among top 3 copper producers
Large iron ore assets in Liberia
Overseas Capital
Invested
c.$12.5bn across various segments
$2.5bn in Zambia
Two large projects – Liberia iron ore and
Gamsberg zinc deposit
Contribution to
Exchequer
Among the largest: c.$4.8bn in proforma
FY2012 (incl $2.8bn by Cairn India)
Largest in Zambia
Contribution to
Society
Community programmes benefiting 2.8mn
people across 1006 villages
Community programmes benefiting
150,000 people across 3 countries
Employees Largest employer in several states Largest private-sector employer in Zambia
Strong Presence in India and Africa

Business and Operations
M.S. Mehta
Chief Executive Officer

FY2004
Ancd 1mt
alumina refinery
project at VAL
Delivering Growth
Pre-IPO
1997: Cmd
Tuticorin smelter
1999: Acq
Australia Cu mines
2001 – Acq BALCO
2002- Acq HZL
Pre-
IPO
FY2005
Acq KCM
KDMP project
launched
FY
2005
FY
2004
FY2006
Cmd 170kt Zn and
50kt Pb smelter,
154MW CPP
Exp Tuticorin
smelter to 300kt
FY
2006
FY2007
Acq Sesa Goa
Cmd 245kt Al smelter and 540
MW CPP at BALCO
Dbn Tuticorin smelter to 400kt
FY
2007
FY2008
Cmd 170kt Zn
smelter
Cmd 80MW CPP at
Chanderiya
FY
2008
FY2010
Acq VS Dempo
Cmd KDMP Mid-shaft loading
Cmd 210kt Zn smelter
Exp RA mine to 6mt
FY
2010
FY2011
Acq Zinc Intl
Cmd 1.5mt mill at
silver-rich SK mine
Cmd 2,400 MW
Jharsuguda power
FY
2011
FY2012
Group Structure
Simplification ancd
Acq Cairn India
Acq Liberia iron ore assets
Cmd 350t Ag refinery
Cmd 100kt Dariba Pb
smelter
Cmd 7.5mt Nchanga East
mill
Dbn TLP to 75kt
Cmd 2nd Co furnace
Exp 274MW wind power
FY
2012
FY2009
Exp RA mine to 5mt
Cmd 311kt Nchanga
smelter, 6mt Konkola
Concentrator
First metal at 500kt VAL
Jharsuguda aluminium
smelter
FY
2009
Abbreviations:
Dbn: Debottlenecked
Exp: Expanded
Cmd: Commissioned
Ancd: Announced
Acq: Acquired
Color Key
Group
Zinc-Lead
Copper
Aluminium
Power
Iron Ore
Oil and Gas
Vedanta IPO

Aluminium
16%
Copper
29%
Zinc India
55%
EBITDA: $323mn
Aluminium
3%
Copper
13%
Zinc India
23%
Zinc-Int.
7%
Iron Ore
14%
Oil & Gas
38%
Power
2%
Continued Growth and Diversification
FY2004
(IPO)
Aluminium
7%
Copper
19%
Zinc India
34%
Zinc-Int.
3%
Iron Ore
33%
Power
4%
EBITDA: $3.6 bn
FY2011
+10x
Proforma FY2012
with Cairn India for Full Year
EBITDA: $5.4bn
+16x

Achieved
Rajasthan block producing at c.175kbopd
− 7.3bn boe of estimated gross in-place resources
Exploration success ratio c.50%
− FY2012 R&R replacement ratio of 175%
− Exploration success at Sri Lanka, KG Basin
Focus
Rajasthan Block Ramp-up1
− Pipeline debottlenecking and augmentation
− Development - Bhagyam, Aishwariya; EOR pilot
− 300kbopd basin production potential
Exploration – 10 blocks in diverse basins
South Africa JV: c.20,000 sq km in geologically
proven basin2
Oil and Gas
Notes. 1. Subject to approvals
2. Closure of transaction is subject to South African regulatory approvals
Significant
part of
240,0001
in CY2013
Primarily
from MBA
Aishwariya
towards
end FY2013
300,0001
Basin
Potential
Barmer Hill
Further
exploration
c.175,000
Currently
Mangala
c.150kbopd
Bhagyam
upto
40kbopd
125,000 at
Acquisition
completion
Mangala
125kbopd
Rajasthan Gross Production (bopd)

0
1,000
2,000
3,000
4,000
5,000
ZnCompositecost-c1cash
cost($/t)
Cumulative Production (Percentile)
Achieved
Organic growth: 1mtpa zinc-lead, 16moz silver
Sustained lowest quartile cost position
25+year mine life with 10%+ grades
Focus
Operational efficiency and capacity utilization
− Significant near term upside in silver and lead
Continue to add more R&R than depletion at existing
mines
Additionally, large-scale exploration across India
covering over 20,000 sq km
Feasibility study underway for next leg of growth
Zinc India
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
0
100
200
300
400
500
600
700
800
900
1000
FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12
Zinc-Lead Metal Production (kt)
Zinc reported COP excluding royalty ($/t)
Zinc LME ($/t)
Operating Performance
$/tkt
HZL
($ 342/t)1
Source: Wood-Mackenzie for Zinc C1 cost curve;
1 Zinc India FY2012 COP of $342/t calculated as per Wood-Mackenzie methodology. Zinc India
remains in the First Quartile based on reported FY2012 COP of $834/t, which does not consider
credits for silver and lead.
Refined Zinc – Lowest Quartile Cost Position
25% 50% 75%

Achieved
Business acquired in FY2011, stable operating
performance
R&R: Mine life extended at all three assets
Focus
Further mine life extension at existing operations
Gamsberg project (186mt)
− 20 year mine life at 400ktpa zinc production
− Feasibility study to complete in current quarter
− Targeting production in 2 years
Zinc International
Source: Wood-Mackenzie
2012e Production (kt)
710
168
164
400
0 500 1000
Rampura-Agucha
Red Dog
Century
Mount Isa Pb/Zn
San Cristobal
Antamina
Brunswick
McArthur River
Tara
Penasquito
Vazante
Lanping
Lisheen
Skorpion
Gamsberg…
25+
20+
Mine Life

Achieved
Significant expansion since acquisition
Sustained lowest quartile cost position
R&R: 68mt net addition in FY2012
− 374mt total R&R, implying 18+ year mine life1
Liberia iron ore assets acquired:
− Aeromagnetic study and initial drilling indicates
significant upside to the resource base estimate
of 1bn tonnes
Focus
India
− Goa: Expanding roads and developing new
corridors to mitigate logistics bottlenecks
− Karnataka: Process underway to resume mining
Liberia
− First shipment in FY2014
Iron Ore
Vedanta Liberia Iron Ore
Asset Type R&R
Mano River Brownfield 80 mt
Bea Mountain Greenfield 923 mt
Bomi Hills Brownfield 50 mt
Distance
key(km)
Bomi Hills
Bea Mountain
Mano River
Asset Key
0 50 100
Western Cluster Mines
Other Iron Ore Mines
Railway
Major Roads
Vedanta
Putu
(Severstal)
Bong
(Wuhan
Steel)
Mount Nimba
(ArcelorMittal)
Liberia
Proposed
Simandou
Railway
Buchanan
Greenville
Dida
Monrovia
Robertsport
Note: 1. At capacity for current producing assets, subject to approvals; Does not include Liberia

Achieved
One of the most efficient copper smelters globally
− Sustained lowest quartile cost position
Value addition into copper rods, c.50% in FY12
98%+ copper recovery and efficient by-product
management
Focus
Commissioning of 160 MW CPP
400kt smelter expansion1
Copper India/Australia
Notes. 1. Subject to approvals
Source: Wood-Mackenzie for Copper Smelting cash cost curve, FY2012 reported net COP for
Copper India
Lowest Quartile Cost Position
0%
25%
50%
75%
100%
0
100
200
300
400
FY08 FY09 FY10 FY11 FY12
Copper Production (kt) Cost Curve Percentile (RHS)
-10
0
10
20
30
40
50
Cusmeltingnetcashconversioncost
(c/lb)
Copper India
(0 c/lb)
25% 50% 75%

Achieved
Konkola shaft#4 sunk to final 1500m depth
− Commissioned 2900level high speed tramming facility
increasing mine development pace
Projects commissioned in FY2012
− 2nd Cobalt Recovery Furnace
− 7.5mt Nchanga East Concentrator
− TLP-IV debottlenecking to 75ktpa
Exploration: Maintained track record of R&R replacement
Focus - FY2013 Priorities
3mt West Mill to be commissioned in Q2FY2013
Accelerate Konkola mine development pace to 60km/year
Bottom shaft loading at KDMP by Q3
− Platform for 25-30% annual growth in mined metal
Start regular mining at Nchanga Upper Ore Body
Copper Zambia
Top 12 copper mines by Cu grade of resources (%)
0
100
200
300
0
100
200
300
400
FY08 FY09 FY10 FY11 FY12 FY13e¹
Copper Production (kt) Integrated COP (in c/lb, RHS)
3.6%
3.4%
1.6%
1.1%
5.1%
3.1%
2.1%
1.5%
1.1%
0.9%
0.8%
0.8%
KOV, DRC (Katanga)
Konkola, Zambia (Vedanta)
Kamoto, DRC (Katanga)
Tenke, DRC (Phelps, Tenke)
Kananga, DRC (Katanga)
Nchanga, Zambia (Vedanta)
Tilwezembe, DRC (Katanga)
Olympic Dam, Australia (BHPB)
Escondida, Chile (BHPB, Rio)
Chuquic-amata,Chile(Codelco)
Collahuasi, Chile (Anglo, Falconbridge)
Grasberg, Indonesia (Freeport)
Underground mine Open pit mine
Source: Raw Materials, CPR, company websites
Notes: 1. Production incudes FY2013 est. of 175kt integrated production and Q1
FY2013 custom production annualized to 52kt; COP of Q1 FY2013.

0
1,000
2,000
3,000
0
200
400
600
800
FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 Q1
FY13¹
Aluminium Production (kt) CoP (in $/t, RHS)
Aluminium and Power
Achieved
1mtpa Alumina capacity, 750kt Aluminium capacity with
1800MW captive power
− Higher volumes of value added products, 25% increase
in FY2012
− Aluminium costs in lower half of cost curve without
captive bauxite
Commercial power: 2,770MW thermal and 275MW wind
Focus
Committed to an integrated Aluminium Strategy
− Focus on securing Bauxite
− BALCO 325kt smelter - First metal in Q3 FY2013
− VAL 1.25mtpa smelter nearing completion and start-up
under review
Power
− Commence BALCO 1,200MW and Talwandi Sabo
1,980MW power plants
− 211mt Coal block at BALCO
Notes. 1. Q1 FY2013 annualized
Aluminium - Lower Half Cost Position
Source: Wood-Mackenzie for Aluminium C1 cost curve, VAL and BALCO shown at
reported costs in Q1 FY2013
0
1,000
2,000
3,000
AlCompositecost-c1cashcost
($/t)
Aluminium Smelter Costs (C1 Cash Cost Curve)
VAL
($ 1,845/t)1
25% 50% 75%
BALCO
($ 1,910/t)1

Strong Focus on Exploration
Added 3x times
mined out in
FY2012
Added 4.8x times
mined out since IPO
R&R increased to
332mt, from 144mt
at Vedanta IPO
25+year mine life
with 10%+grades
Zinc India Iron Ore
India
Added net 68mt in
FY2012, 18 year
mine life2
R&R increased from
190mt 3 at
acquisition to
374mt – added 3.4x
times mined out
Liberia
1bn tonnes R&R
Aeromagnetic study
and 25,000+metres
drilling indicates
strong potential
upside
R&R replacement
ratio of 1.75x in
FY2012
Rajasthan potential
resource increased
to 7.3bn boe gross
in place from 6.5bn
boe
Exploration success
at Sri Lanka and
Nagayalanka
17 year R&R life
Oil & GasCopper-Zambia
R&R increased to
689mt from 457mt
at acquisition
24+ year mine life
with high grade at
KDMP
Added mine life at
all three assets
Current mine life:
− Skorpion:
5+years1
− BMM: 10+years
− Lisheen: 3years
186mt Gamsberg
deposit feasibility
study underway
Zinc-Intl
Notes: 1. With some additional work for conversion of resources to reserves
2. At capacity for current producing assets, subject to approvals
3. 120mt excluding Orissa from Sesa Goa acquisition, and 70mt from Dempo acquisition
Creating Long Term Value through Exploration

Financials
D.D. Jalan
Chief Financial Officer

Track record of delivering strong margins
− Driven by a diversified portfolio of high growth assets
− Cairn India has contributed to the diversity and scale of cash flow generation
Substantially invested projects to drive free cash flow
Progressive dividend policy, CAGR of 17% over the last 5 years
Financial Highlights
$mn or as stated
FY2012
proforma with
Cairn FY2012 FY2011
EBITDA 5,353 4,026 3,567
EBITDA margin1 (%) 46.7% 40.6% 44.6%
Underlying Attributable PAT2 571 387 715
Underlying EPS($/share)2 2.09 1.42 2.63
Free Cash Flow before Growth Capex 3,128 2,534 2,347
Growth Capex3 2,728 2,398 2,517
Total Dividend (USc/share) 55.0 52.5
Notes: 1. Excludes custom smelting operations
2. Based on profit for the year after adding back special items and other gains and losses, and their resultant tax and minority interest effects
3. Excludes sustaining capex

1.0
0.5 0.1 0.3
3.0
2.2
1.5
1.3
3.1
0.5
1.3
0.4
0.3
2.3
4.1
2.4
2.7
0.7
3.2
4.5
FY2013 FY2014 FY2015 FY2016 FY2017³ FY2018 and later
Debt at VED plc Debt to be transferred from VED plc to Sesa Sterlite Debt at Subsidiaries
Strong Financial Profile
Cash and Liquid Investments of $6.9bn, with additional $2.9bn undrawn lines of credit
FY2012 Proforma Net Debt:EBITDA including Cairn of 1.9x; Credit ratings of BB/Ba3/BB1
Notes: All information as of 31 March 2012, except information on refinancing
1. Issue credit Ratings as per S&P, Moody’s and Fitch respectively
2. Debt numbers shown at face value
3. Includes convertibles at Vedanta Plc of $883mm due in FY2017 (with a put option in April 2013) and $1,250mm due in FY2017 (with a put option in July 2014)
Debt Maturity Profile ($bn)2
$1.7bn - Bridge loan to be rolled over into long term facilities
$0.7bn - Revolving working capital facility
$0.4bn - Refinanced
$0.3bn - To be repaid through internal cash flows
30
US$1bn maturities at plc in FY2013:
$550mn refinanced to date

Group Simplification to Reduce Debt at plc
Post group structure simplification, debt service
liability at plc reduces by 61% to $3.9bn
Debt service cost at Vedanta reduces from
$500mn to $190mn in FY2013
Payout-based dividend policies at subsidiaries to
result in significantly higher dividends to plc
Debt Service Liability at plc ($bn)
9.8
(3.1)
3.9
(2.8)
0
5
10
Service Liability
Pre Transaction
Service Liability
Post
Transaction
Debt transferred to
Sesa Sterlite;
guarantee continued
by Vedanta
Note: Numbers as of 31 March 2012
Intercompany
receivable created
at Vedanta,
from Sesa Sterlite

Sustainable Development
Tony Henshaw
Chief Sustainability Officer

Sustainability Model
Embed sustainable development into every aspect of what we do
To improve our health and safety performance for a safer, more secure and healthier
environment
To contribute further and in a more targeted way to local communities
To continue to manage and minimize our impact on air, water and land
To maintain a dialogue with stakeholders to help us further understand what is needed to help
support a sustainable society and planet

Responsible Stewardship – Health & Safety
Health
Investing in technologically advanced
processes that reduce possible
exposure levels at work area
Regular medical check ups - Over
87,000 medical examinations conducted
in FY2012
Monitoring and review of industrial
hygiene parameters such as noise
exposure, illumination levels and
manual handling
Vedanta is committed to providing a safe, injury-free and healthy place to work
Safety
Goal is to reach & sustain “Zero Harm”
48% reduction in LTIFR in last five
years
Focused programme on elimination of
unsafe conditions across units
Exco sub-committee on sustainability
formed - current focus is on safety
performance
134,000 man hours of safety training
imparted last year
Targeting LTIFR less than 0.80 in
FY2013 and less than 0.50 by FY2016
1.9 1.7 1.5
1.1 1.0
FY 2008 FY 2009 FY 2010 FY 2011 FY 2012
-48%
LTIFR

Responsible Stewardship – Environment
Water
Doubled water recycling to 55.7MCM in FY2012
14.5MCM of rainwater harvested in FY2012
Energy
Energy saving target for FY2013 is 3.9mn GJ,
equivalent to 120MW power station
Climate Change
274MW wind power capacity
61MW generated from waste heat
16.2% decrease in GHG emissions (scope 1 & 2)
per total revenue
Solid Waste
More than 70% of non-hazardous waste
generated is constructively utilised
Extensive research with best institutes in India
to constructively utilize Jarofix and Red mud
Vedanta is committed to mitigating the environmental impact of our activities

Adding and Sharing Value – Our Communities
Community programmes reaching 3.1 million
people in India and Africa
Community spend of US$38 million in FY2012
Working in partnership with 149 NGO’s and
academic institutions
Focus areas– Child Care, Education, Women
Empowerment, Sustainable Livelihood , Health
Water & Sanitation and Bio-Investment
US$4.8 billion1 total contribution to Indian
government exchequer in FY2012
Working in partnership with our communities is an integral part of our strategy
350 bed Cancer Research Hospital at Raipur
- US$61mn investment
Notes. 1. On a proforma basis including incl $2.8bn by Cairn India for full year FY2012

Assurance – Scott Wilson
Vedanta sustainability framework of policies and technical standards completed
The framework has been reviewed independently for compliance with the IFC performance
standards, the ICMM guidelines and the UN Global Compact
Scott Wilson – 17 points closed, 6 points awaiting review for closure, 4 to be closed by the end
of year
− Final sign off by June 2013
Formalizing our approach to international standards and best practices

.
Please email us at :
sustainability@vedanta.co.in
For more information visit
www.vedantaresources.com/sustainability/
www.vedantaresources.com
Please write to us at :
Vedanta Resources plc
5th Floor, 16 Berkeley street
London W1J3DZ
Vedanta Sustainable Development Report 2011-12

Summary
Global Diversified Natural Resources Major
World-class portfolio of large, structurally low-cost, scalable assets with long mine-life
Strong financial profile supported by diversified cash flow growth
Delivering industry-leading production growth driven by substantially invested projects
Recent acquisitions provide additional growth options
Focus on additional resources to drive long-term value
Group simplification on track for completion in CY 2012

Our Operations
India
Copper
• CMT
Australia
Iron ore
• Liberia Iron Ore
Assets
Liberia
Ireland
Zinc-lead-silver
• Lisheen
Namibia
Zinc-lead-silver
• Skorpion
Iron ore
• Goa
• Karnataka
Zinc-lead-silver
• Debari smelter
• Chanderiya smelters
• Rampura Agucha mine
• Dariba mine, smelters
• Zawar mine
• Sindesar Khurd mine
Copper
• Tuticorin
copper smelter
Aluminium
• Lanjigarh alumina
refinery
• Jharsuguda smelter
• Korba smelter and
power plant
• BALCO coal block
Power
• Talwandi Sabo
• Jharsuguda power
• MALCO power plant
Sri Lanka
Oil and Gas
• Rajasthan
• Cambay
• Ravva
• East Coast
• West Coast
• Sri Lanka
Copper
• KCM
Zambia
Zinc-lead-silver
• Black Mountain
• Gamsberg
South Africa Oil and Gas
• Block-1
Site visit covers Jharsuguda, Agucha, Dariba, Sindesar Khurd, Rajasthan O&G, Goa iron ore

Zinc-Lead-
Silver
Iron oreOil & Gas Copper Aluminium Power
Gamsberg - one of
the largest
undeveloped zinc
deposits: 186mt
at 6.9% grade
1.98GW Talwandi
Sabo by FY2014
BALCO 325ktpa
first metal in Q3
FY2013
BALCO 1200MW
first unit sync by
Q2 FY2013
36mtpa capacity
expansion
Liberia project,
shipment from 1st
phase in FY2014
2013:c.240kbopd1
from Rajasthan
300kbopd1 basin
potential
India: 400ktpa
expansion1
KCM ramping up
to 400ktpa
Growth profile
1.5mtpa,
16moz silver
+Gamsberg
3.8GW,
upto 8.6 GW
(3.9GW commercial)
740ktpa,
upto 2.3mtpa
21mtpa1
+Liberia
175kbopd,
upto 300kbopd1
India: 400ktpa,
upto 800ktpa1
Zambia upto 400ktpa
Capacity
Global Diversified Natural Resources Major
Notes: 1. Subject to approvals
Well Invested Asset Base driving Growth
42
India, Ireland,
Namibia, South
Africa
IndiaIndiaIndia, Liberia
India, Sri Lanka,
South Africa1
Zambia, India,
Australia
Largest integrated
zinc-lead producer
One of the largest
producers in India
Strategically located
large-scale assets
Largest Indian
private iron ore
producer-exporter
One of India’s largest
private crude oil
producers
World class Zambian
operations, Indian
custom smelter
among lowest cost
smelters globally
Country and Positioning

Highlights
Three operating blocks
− RJ current production at c.175 kbopd
− Basin potential of 300 kbopd
− Two mature blocks, effort ongoing to arrest the decline rate
Worlds’ longest continuously heated and insulated pipeline
10 blocks under exploration
− Exploration success ratio c.50%
R&R Life: 17 years
Q1 FY 2012-13:
− Average Daily Gross operated production at 206,963 boe
− Cairn Working Interest production at 127,226 boe
Oil & Gas - Assets
Snapshot of Assets
Oil and Assets – Gross 2p
(i.e. Gross Proved and Probable)
Hydrocarbons
Initially In-place
(mmboe)
Reserves and
Resources
(mmboe)
Rajasthan Block (RJ) - MBA Fields 2,090 636
Rajasthan Block (RJ) - MBA EOR - 308
Rajasthan Block (RJ) - Other Fields 2,088 178
Rajasthan Block (RJ) - Total 4,178 1,122
Ravva Fields 690 70
CBOS/2 Fields (in Cambay Basin) 182 13
Other Fields 792 426
Total 5,842 1,631
# Producing Blocks; *Under Force Majeure; ** Farm in agreement signed on 16 August 2012, subject to South African regulatory approvals
Working Interest
Block
Working
Interest
Rajasthan
RJ-ON-90/1# 70 %
East Coast
KG-DWN-98/2 10 %
KG-ONN-2003/1 49 %
PKGM-1 (Ravva)# 22.5 %
KG-OSN-2009/3* 100 %
PR-OSN-2004/1* 35 %
West Coast
CB/OS-2# 40 %
MB-DWN-2009/1* 100 %
Sri Lanka
SL 2007-01-001 100 %
South Africa (SA)
Block 1** 60 %

Zinc India - Assets
Highlights
Capacity:
− 1mtpa integrated zinc-lead
− 16moz integrated silver
High-grade mining assets
300+mt R&R,
− Supports long mine life of 25+
years
Smelters and refineries located in
close proximity to mines
Snapshot of Assets
Mining Assets
Reserves
(mt)
Resources
(mt)
Reserve
Grade-Zn
Reserve
Grade-Pb
Capacity- Ore
(mtpa)
Rampura Agucha Mine 69.3 41.1 13.7 % 1.9 % 6.2
Sindesar Khurd Mine 21.6 59.8 4.5 % 2.7 % 2.0
Rajpura Dariba Mine 8.8 43.5 6.3 % 1.7 % 0.9
Zawar Mines 7.8 64.1 3.6 % 2.0 % 1.2
Kayar Mines 1.8 9.5 12.6 % 1.8 % 1.0 *
Bamnia Kalan Mines - 5.1 - - NA
Total 109.3 223.1 10.6 % 2.0 % 10.3
Other Assets
Capacity-
Refined
Zinc (kt)
Capacity-
Refined Lead
(kt)
Capacity-
Silver (t)
Capacity-
Captive
Power (MW)
Capacity
Total Zinc-
Lead (kt)
Chanderiya Smelting Complex 525 85 168 234 610
Pyrometallurgical Lead Zinc Smelter 105 35 168 - 140
Hydrometallurgical Zinc Smelter 420 - - - 420
AusmeltTM Lead Smelter - 50 - - 50
Dariba Smelting Complex 210 100 - 160 310
Hydrometallurgical Zinc Smelter 210 - - - 210
Lead Smelter - 100 - - 100
Debari Smelter - Hydrometallurgical
Zinc Smelter
88 - - - 88
Pantnagar Silver Refinery - - 350 - -
Zawar Mining Complex - - - 80 -
Total 823 185 518 474 1,008
Note: * Refers to 1mtpa Kayar mine project which is under development and is not considered in total capacity

Other Assets Capacity Zn (kt)
Skorpion Integrated Zinc Refining1 150
Zinc International - Assets
Highlights
Capacity: 150kt integrated zinc, 248kt zinc- lead mined metal
270+mt R&R, supports long mine life: Skorpion : 5+ years1, Lisheen : 3 years, BMM – 10+ years
Gamsberg: Total resources of 186mt within 2 ore bodies
− 154mt at Gamsberg North at 6.3% Zn
− 32mt at Gamsberg East at 9.8% Zn
− Potential to produce 400ktpa zinc at Gamsberg North
− Implies a mine life of over 20 years
Snapshot of Assets
Mining Assets
Reserves
(mt)
Resources
(mt)
Reserve
Grade-Zn
Reserve
Grade-Pb
Skorpion Mine 6.5 2.6 9.7 % -
Lisheen Mine 3.8 1.7 11.2 % 1.7 %
Black Mountain Mine 8.2 63.8 2.5 % 2.8 %
Gamsberg - 186.3 - -
Notes: 1. With some additional work for conversion of resources to reserves

Iron Ore – India Assets
Highlights
Capacity:
− Goa: 14.5mtpa
− Karnataka: 2.3mtpa1
374mt R&R
− Supports long mine life of 18+
years2
Favorable logistics – Goa mines
located in proximity to port
Snapshot of Assets
Mining Assets
Proved and
Probable
Reserves (mt) Grade-Fe
Mining
Capacity
(mt)
Target Mining
Capacity (mt)
Goa 132.5 55.1% 14.5 27.0
Karnataka – A Narrain 34.2 57.1 % 2.31 9.0
Total 166.7 55.5 % 16.8 36.0
Other Assets
Capacity- Pig
Iron(kt)
Capacity-
Metcoke
(kt)
Capacity-
Power
(MW)
Amona 250 280 -
Amona-expansion 375 280 30
GEPL - - 30
Total 625 560 60
1. CEC approved provisional capacity of 2.29 mt
2. At capacity for current producing assets, subject to approvals
Goa
Karnataka

Iron Ore – Liberia Assets
West Africa – the next Major Iron Ore hub
34bn tonnes of Iron Ore resources identified in West
Africa
Potential to develop into a 100mtpa Iron Ore
exporting region
Entry into Liberia
51% stake acquired in WCL Liberia
1bn tonnes R&R across 3 deposits, close to coast
2 existing piers and stacking area at port
Favourable logistics - 70-140km from port, lowest
amongst other players
Vedanta Liberia Iron Ore
Asset Type R&R
Mano River Brownfield 80 mt
Bea Mountain Greenfield 923 mt
Bomi Hills Brownfield 50 mt
Distance key(km)
Bomi Hills
Bea Mountain
Mano River
Asset Key
0 50 100
Western Cluster Mines
Other Iron Ore Mines
Railway
Major Roads
Vedanta
Putu
(Severstal)
Bong
(Wuhan
Steel)
Mount Nimba
(ArcelorMittal)
Liberia
Proposed
Simandou
Railway
Buchanan
Greenville
Dida
Monrovia
Robertsport

Copper- India/Australia - Assets
Highlights
One of the lowest-cost custom smelters globally
Stable volume and cost performance
Other Assets
Copper
Anode
(kt)
Copper
Cathode
(kt)
Rod
(kt)
Sulphuric
Acid (kt)
Phosphoric
Acid (kt)
Captive
Power
(MW)
Tuticorin Copper Smelter 405 205 96 1,300 230 47
Silvassa Copper Refinery - 200 172 - - -
Fujairah - - 100 - - -
Total 405 405 368 1,300 230 47
Snapshot of Assets
Mining Assets
Reserves
(mt)
Reserve
Grade-Cu
Resources
(mt)
Resources
Grade-Cu
Mt. Lyell (CMT) 6.0 1.23 % 31.5 1.11 %

Copper- Zambia - Assets
Highlights
Konkola - one of the largest
high-grade copper mines with
3%+ grade
Well-invested assets: smelter,
concentrators, refinery
Snapshot of Assets
Mining Assets
Reserves
(mt)
Reserve
Grade-Cu
Resources
(mt)
Resources
Grade-Cu
Capacity-
Ore (mtpa)
KCM (Konkola, Nchanga,
etc)
369.9 1.63 % 319.0 2.38 % 7.5
Other Assets
Capacity-
Copper
Conc.(mt)
Capacity-
Copper
Anode(kt)
Capacity-
Copper
Cathode(kt)
Capacity-
Acid
Capacity-
Pyrites
Nchanga 7.5 311 75 585 -
Concentrator 7.5 - - - -
Smelter - 311 - 585 -
Tailings Leach Plant - - 75 - -
Konkola 6.0 - - - -
Concentrator 6.0 - - - -
Nkana - Refinery - - 300 - -
Nampundwe - Pyrites - - - - 60
Total Smelting and
Refining
13.5 311 375 585 60

Aluminium - Assets
Highlights
2.3mt integrated Aluminium
Proximity to coal and bauxite
Competitive cost position – Second
quartile
Snapshot of Assets
Mining Assets
Reserves
(mt)
Reserve
Grade-Al
Resources
(mt)
BALCO 7.2 46.4% 30.7
Mainpat 3.4 46.1 % 5.0
Bodai- Daldalli 3.8 46.6 % 2.0
Pandrapat - - 8.0
Jamirapat - - 15.7
Other Assets
Capacity
Alumina (kt)
Capacity
Aluminium
(kt)
Capacity
Captive
Power (MW)
Capacity
Commercial
Power (MW)
Balco
Smelter - 245 540
IPP - - 270
Expansions - 325 600 600
VAL
Alumina Refinery 1,000 - 90
Smelter - 500 1,215
Expansions 4,000 1,250 210
Total Current Capacity 1,000 745 1,845 270
Total Capacity 5,000 2,320 2,655 870

Power - Assets
Highlights
Single location 2,400 MW power plant
Proven execution skills with experience in building &
operating large power projects
Proximity to coal
HZL-WPP (not shown on map) includes wind power plants
at Rajasthan (89MW), Gujarat (89MW), Maharashtra
(26MW), Karnataka (49MW) and Tamil Nadu (21MW)
Snapshot of Assets
Power Plants
Capacity
(MW)
Malco 100
HZL – WPP 274
SEL 2,400

Entity-Wise Cash and Debt Details
Net Debt Summary ($mn)
31 Mar 2011 30 Sep 2011 31 Mar 2012
Company Debt Cash & LI1 Net Debt Debt Cash & LI1 Net Debt Debt Cash & LI1 Net Debt
Vedanta plc2
4,557 265 4,292 6,340 1,136 5,204 9,263 205 9,058
Sterlite standalone incl. CMT 746 1,139 (394) 636 771 (135) 565 758 (193)
Zinc India - 3,403 (3,403) - 3,384 (3,384) - 3,574 (3,574)
Zinc International 32 392 (360) 28 306 (278) 9 215 (206)
BALCO 518 68 451 618 26 592 711 49 662
Sterlite Energy Ltd 597 92 505 910 15 895 1,175 37 1,138
Others 24 27 (4) 52 - 52 53 1 51
Sterlite Consolidated 1,917 5,122 (3,205) 2,244 4,501 (2,258) 2,511 4,633 (2,122)
Vedanta Aluminium Ltd 2,810 115 2,695 2,825 15 2,810 3,505 85 3,420
Copper Zambia 256 6 250 765 - 765 750 42 709
Sesa Goa 212 2,194 (1,982) 867 220 648 681 118 564
MALCO - 74 (74) 16 17 (1) - 6 (6)
Cairn India - - - - - - 244 1,797 (1,553)
Total (in $mn) 9,753 7,777 1,9703 13,056 5,889 7,1664
16,955 6,885 10,0645
Note: 1. Liquid Investments
2. Includes Investment Companies
3. Includes $5 million debt related derivative
52

Credit Metrics
FY2011 FY2012 Covenant
Net Debt/EBITDA 0.55 x 1.9 x < 2.75 x
EBITDA/Gross Interest Expense1 5.0 x 4.5 x > 4.0 x
Tangible Net Worth ($bn) 5.5 4.5 > 3.0
Net Assets/Debt 2.61 x 2.47 x > 1.75 x
Gearing2 13% 35%
Note: 1. Interest includes Capitalized Interest
2. Gearing is calculated as Net Debt divided by the sum of Net Debt and Equity
53

Group Structure Simplification Status
Status Event Expected
BSE and NSE approval sought Mar 2012
Competition Commission approval sought Mar 2012
Foreign Investment Promotion Board approval sought Mar 2012
BSE and NSE approval received Apr 2012
Competition Commission approval received Apr 2012
Application to High Court in India and Supreme Court of Mauritius Apr 2012
Scheme documents posted to shareholders May 2012
Vedanta / Sesa / Sterlite / MALCO EGM Jun 2012
Foreign Investment Promotion Board approval Jun 2012
Supreme Court of Mauritius approval Sep 2012
High Courts of India approval / Transaction completion CY 2012
54
Group Structure Simplification on Track

Proposed New Group Structure
Konkola
Copper
Mines (KCM)
58.3%
Vedanta Resources
100%64.9%
Zinc India
(HZL)
Australian
Copper
Mines
Sesa Sterlite
Cairn India
58.8%
79.4%
Subsidiaries of Sesa Sterlite
Iron Ore (Sesa Goa)
Copper Smelting (Tuticorin)
Power (2,400MW Jharsuguda)
Aluminium (VAL aluminium
assets)
Divisions of Sesa Sterlite
Option to
increase stake
to 94.4%
Unlisted entitiesListed entities
Note: Shareholding based on basic shares outstanding
Talwandi
Sabo Power
(1,980MW)
100%
VAL Power
and MALCO
Power
(1,405MW)
100%
Skorpion &
Lisheen -
100%
BMM -74%
100%
Zinc
International
51%
Bharat
Aluminium
(BALCO)
Option to
increase stake
to 100%
51%
Western
Cluster
(Liberia)
Option to
increase stake
to 100%
55

Vedanta Group Structure
Zinc IndiaCopperAluminium Iron ore Power
KEY
Konkola
Copper
Mines (KCM)
54.6%
Vedanta Resources
(Listed on LSE)
Madras
Aluminium
(MALCO)
94.8%
51.0% 100%64.9%
70.5%
29.5%
Zinc India(HZL)
(Listed on BSE
and NSE)
Australian
Copper Mines
Bharat
Aluminium
(BALCO)
Sterlite Energy
100%
Sterlite Industries
(Listed on BSE,
NSE and NYSE)
Vedanta
Aluminium
(VAL)
79.4%
Sesa Goa
(Listed on BSE
and NSE)
55.1%
3.6%
51%
Skorpion and
Lisheen
Black
Mountain
100% 74%
Zinc International
Cairn India Ltd
(Listed on BSE
and NSE)
38.7%
20.1%
Liberia
Iron Ore Assets
Oil & GasZinc International
Note: Structure as at 31 March 2012
56

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