Cairn has been exploring for hydrocarbons in India for more than 15 years. Today, it has a proven track record of making exploration discoveries and fast tracking them to production. Three out of the seven landmark oil discoveries made in India between 2000 and 2005 were by Cairn and its Joint Venture (JV) partners. The Mangala discovery in Rajasthan in 2004 was the largest onshore discovery in the country in the past two decades. The Mangala Field commenced production on 29 August 2009 after it was dedicated to the nation by the Honourable Prime Minister of India, Dr. Manmohan Singh at the Mangala Processing Terminal in Barmer, Rajasthan. For more info log onto www.cairnindia.com

1. © 2011 Cairn India Limited
Corporate Presentation
May 2012

2. 2
Disclaimer
This material contains forward-looking statements regarding Cairn India and its affiliates, 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, acts of competitors and other changes to business conditions. Cairn India undertakes no 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. Unless otherwise stated the reserves and resource numbers within this
document represent the views of Cairn India and do not represent the views of any other party, including the Government of
India, the Directorate General of Hydrocarbons or any of Cairn India’s joint venture partner.

3. 3
Corporate Profile
IPO Dec 2006; listed on BSE & NSE in Jan 2007
Other Institutions Retail
MF
FI 3%
Part of NIFTY index & DJIT30 2%
5% 2%
FII 10.1%
8% 21.8%
6.4%
Amongst India’s top 20 companies; Market Cap >US$12 bn
59%
22%
Total Equity of 1,908 m shares; Free float ~19%**
Cairn PLC
Board comprises 8 members with 4 independents
59.0%
Vedanta Group*
Dividend Policy approved by the Board; aim to maintain Shareholding as on 02 May 2012
payout at around 20% of annual consolidated net profit
DJIT30: Dow Jones India Titans 30 Index,**Free float excludes Cairn PLC holding
*Twin Star Mauritius Holdings Ltd 38.8%, Sesa Goa Ltd 18.4% , Sesa Resources Ltd 1.7%,

4. 4
Overview
 Amongst top 20 global independent E&P company
Leading  Operates ~20% of India’s domestic crude oil production “Fastest growing
energy company in
E&P Player  Over 1 billion barrels reserves / resources base Asia, 2011”
– Platts 250
 Diverse international workforce of 1,300+ people
 Opened up 3 new frontier basins with over 40 discoveries
 US$ 4 bn Rajasthan Project – Discovery to Production in 5 yrs “Mangala Pipeline:
Proven Project of the Year
 Low cost operator; Innovative application of technology 2011”
Capabilities - Project Management
 Built world’s longest (~600 kms) continuously heated and Institute (PMI)
insulated pipeline
 Become a global, world class E&P company
 Establish a diversified & sustainable portfolio “Golden Peacock
Vision Award for Corporate
 Deliver long term value to host Governments, Local Social Responsibility,
2012”
Communities and all stakeholders

5. 5
World Class Asset Base
10 blocks in the Portfolio
Production Blocks Exploration Potential
Rajasthan (RJ-ON-90/1) Rajasthan
Cairn (Operator) 70% RJ-ON-90/1 WI 70%
10.1%
ONGC 30%
East 21.8%
Coast
6.4%
KG-DWN-98/2 WI 10%
KG-ONN-2003/1 WI 49%
Cambay (CB/OS-2)
PKGM-1 (Ravva) WI 22.5%
Cairn (Operator) 40%
KG-OSN-2009/3* WI 100%
ONGC 50% PR-OSN-2004/1* WI 35%
Tata Petrodyne 10%
West Coast
CB/OS-2
59.0% WI 40%
Ravva (PKGM-1) KK-DWN-2004/1 WI 40%
Cairn (Operator) 22.5% MB-DWN-2009/1* WI 100%
ONGC 40%
Sri Lanka
Videocon 25%
SL 2007-01-001 WI 100%
Ravva Oil 12.5% * Under Force Majure
FY 2011-12: Average Daily Gross operated production at 172,887 boe; Cairn (Working Interest) at 101,268 boe

6. 6
Performance Highlights
Operations
 Mangala field ramped up to 150,000 bopd post GoI approval
 Bhagyam field commenced production; currently producing ~25,000
bopd, target to reach its currently approved plateau rate of 40,000
bopd 10.1%
21.8%
 Raageshwari and Saraswati fields commenced production; RJ 6.4%
cumulative production from 4 fields is 175,000 bopd
 RJ production to achieve an additional ~10% over the current
production levels in the coming months
 Significant part of 240,000 bopd to be met from MBA fields in CY 2013
 Development of Aishwariya field underway with EPC contractors
engaged
59.0%
Exploration
 Entered Phase 2 of exploration; two successive discoveries in frontier
Mannar Basin, Sri Lanka in Phase 1
 Second successive discovery in the Nagayalanka–SE-1 well in KG-
ONN-2003/1 block; largest oil discovery in the onshore part of the KG
basin to date

7. 7
Financial Overview
FY 2011-12 FY 2010-11 % Change
Gross Operated Production
172,887 149,103 16
(boepd)
Rajasthan 128,267 100,993 27
Ravva 36,379 36,942 (2)
Cambay 8,242 11,169 (26)
Revenue (US$ m) 2,480 2,255 10
EBITDA (US$ m) 1,935 1,835 5
PAT (US$ m) 1,660 1,390 19
CFFO (US$ m) 1,478 1,391 6
EPS (INR per share) 41.71 33.35 25
EBITDA Margin (%)
Reduced nation’s crude oil import dependency by ~US$ 6 billion on a
gross basis in FY 2011-12
81 78
48
Gross contribution to the national exchequer (excluding direct taxes)
was ~US$ 2.4 billion in FY 2011-12
FY 2009-10 FY 2010-11 FY 2011-12

8. 8
Profit After Tax
FY 2011-12 vs FY 2010 -11 (US$ million)
1,800
224 39 19 20 1,660
153
1,600 22
1,390
1,400 125 39
1,200
1,000
800
600
400
200
0
FY Revenue Operating DDA Forex Other Interest Exceptional Tax FY
2010-11 Increase Expense Gain Income Expense Item 2011-12
Revenue increase on account of higher price (US$ 102.7 vs 76.8 per boe) and volumes (Gross 172,887 bopd vs
149,103 bopd)
Higher PAT by 19% on account of increased production from the Rajasthan block and price realization
Exceptional item on account of royalty paid in Rajasthan block being cost recoverable with retrospective effect

9. 9
Reserve and Resource Update
31-Mar-11 31-Mar-12
 Company achieved a reserve and resource replacement ratio of
175% during the year; gross addition in excess of production ~ 50 +11%
mmboe
RJ Basin Potential
Rajasthan Block
 Potential resource for the block now estimated at 7.3 bn boe gross 7.3
In place 6.5 +24%
 Exploration potential now estimated at 530 mmboe gross 1.4 1.7
recoverable risked prospective resource Gross In Place Expected Ultimate
Resource Recovery
 Increasing confidence on the Mangala EOR polymer pilot; led +24%
towards booking 70 mmboe of gross 2P reserves
RJ Exploration Potential
3.1
 Mangala field Stock Tank Oil Initially In Place (STOIIP) increased 2.5
by 36 mmboe to 1,329 mmboe
+112%
 Expected Ultimate Recovery (EUR) now at 1.7 billion boe
0.53
 Resource base supports a basin production potential of 300,000 0.25
bopd
Gross In Place Recoverable
Resource
Data as per FY 2011-12 press release

10. 10
Rajasthan – Resource and Value Potential
Resource Future Development & Prospective
Under Development Total % inc from
Resource previous
Potential
(mmboe) Gross 11%
MBARS 2,168 BH + 19 Disc. 2,010 EXPLORATION 3,100 7,278
In Place
Gross EUR 1,044 (~48%) 165 (~8%) 530 (~17%) 1,739 24%
Expected Gross 300***
Production Significant part of
(kbopd) 240 ***
175
Note-
*Gross EUR Includes EOR
potential of 238 mmbbls; balance
70mmbbls booked as reserves
MBARS – Mangala, Bhagyam,
Aishwariya, Raageshwari,
Saraswati
** Sometime in CY 2013
Company upgraded the numbers
as on 31 March 2012
*** Subject to approvals
Apr-12 CY 2013**
25 discoveries to date

11. 11
Rajasthan - Production and Crude Offtake
 Produced and sold >85 mmbbls of crude to Indian refiners;
generated gross revenues in excess of US$ 7.5 billion to date
 Sales arrangements renewed with buyers for volumes in
10.1%
excess of 175,000 bopd with PSU & Private refineries
21.8%
6.4%
 Crude Pricing
• Reference to comparable low sulphur crude - Bonny Light
• Discount guidance of an average of 10-15% to Brent
 The MPT to Salaya section continued to safely deliver crude oil
to IOCL and private refiners
• Recorded more than 3.7 million LTI-free man hours to date
59.0%
• Provides access to over 1.6 mmbopd refining capacity
 Salaya to Bhogat pipeline section (~80 km) and the marine
facility expected to be completed in H1 CY 2013

12. 12
Cash Position and Capex Plan
Gross Cash (US$ m) Debt (US$ m)
Rajasthan Block Capex
Gross Net
Exploration (till FY
0.63 0.56
2011-12)
1,249
1,789
Development 583
Till FY 2011–12 3.4 2.4
FY 2012-13 E* 1.00 -1.25 0.70 - 0.87 751
598
Cash Position (as on 31-Mar-12) 245
Gross Cash 1.79 FY 2009-10 FY 2010-11 FY 2011-12
Debt (0.25)
Net Cash Company with debt equity ratio of 0.03 as
Net Cash 1.54 on 31 Mar 2012
Numbers in US$ bn * ~70% of the capex is expected to be spent on the
MBA, facilities including pipeline

13. 13
13
Exploration - Portfolio Current Exploration Portfolio
 Mix of producing, emerging, immature and Basin Type
frontier acreages
 Significant portfolio growth since IPO
Proven
Producing
 Net unrisked prospective resource at ~2.1
bn boe
 Established working hydrocarbon system
Emerging
in Sri Lanka through successive
discoveries
Prospective
 Largest oil discovery in the onshore part of
KG basin to date Immature
Portfolio Growth
2,500 Frontier
Net Unrisked Prospective
Resource (mmboe)
2,000
1,500
1,000
500
CIL Focus Area
0 Frontier Evaluation
2007 2009 2011

14. 14
Exploration - Programme
 Major long term player  Play based approach to building portfolio
 Large proprietary database  Diversity of basin, plays and environments
 Experienced team  Ongoing regional petroleum system studies
 Successful exploration >10
years: Success ratio ~50%
10.1%
21.8%
6.4%
RJ-ON-90/1
Assessing new plays, KG-ONN-2003/1
New prospects generated
Second successive discovery
Nagayalanka-SE-1
MB-DWN-2009/1
Under Force Majeure
RAVVA
Infill drilling
completed
KK-DWN-2004/1 59.0%
Acquired 300 km2 3D;
MWP of Phase 1 KG-DWN-98/2 KG-OSN-2009/3
completed Under Force
Decided to sell off the
Majeure
OPERATED stake
SL-2007-01-001
NON-OPERATED
Two successive discoveries in PR-OSN-2004/1
Phase 1; entered Phase 2, acquired
Under Force Majeure
600 km2 3D; drilling in mid CY 2013 SRI LANKA

15. 15
Exploration - Sri Lanka Block (SL 2007-01-001)
 Cairn Lanka 100%; Working Interest (NOC
back-in 15%)
• Cairn India’s first overseas venture
• Block Area: ~3,000 km2
10.1%
• Water depth: 400 - 1,900m
21.8%
6.4%
 Under explored, frontier basin with multiple
plays
 Establishment of working hydrocarbon system
in the basin
SL-2007-01-001
 Exploration Program
59.0%
• Phase 1 - Two Discoveries out of three
wells drilled
• Phase 2 - 600 km2 3D seismic completed; SRI LANKA
exploration drilling in mid CY 2013
50km

16. 16
Engaging with the Community
Strategic Intent
 Proactive engagement with stakeholders
 Demonstrate leadership in corporate citizenship
10.1%
 Partnering with communities through our principles of
respect, relationship and responsibility 21.8%
6.4%
 Enterprise Centre to create pool of skilled manpower
 Micro Vendor Development – local employment and
training
Areas of Focus
 Education
59.0%
 Infrastructure
 Health
SRI LANKA
 Economic
Development

17. 17
Summary
 Rajasthan
• Mangala field producing at 150,000 bopd post GoI approval in April 2012
• Cumulative production from four fields at 175,000 bopd
• Delivery to domestic refiners through worlds longest continuously heated and insulated pipeline
• Gross field revenue in excess of US$ 7.5 bn 10.1%
• EOR pilot continues to progress well; 70 mmboe booked as gross proved and probable reserves
21.8%
6.4%
• World class resource base, 12% increase in potential resource to 7.3 bn boe; focussed on
delivery and growth
• Basin production potential now at 300,000 bopd
 Ongoing 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 – US$ 2.2/bbl*
 Gross contribution to the national exchequer (excluding direct taxes) ~US$ 10 bn till date
59.0%
 Two successive discoveries in frontier Mannar basin in Sri Lanka; entered Phase 2 of exploration
SRI LANKA
 Second successive discovery in KG-ONN-2003/1; largest oil discovery in the onshore part of the KG
basin to date
* For the period FY 2011-12