CAIRN INDIA

Corporate Presentation

July 2011

2

Disclaimer

These materials contain forward-looking statements regarding Cairn India, our corporate plans, future financialcondition, future results of operations, future business plans and strategies. All such forward-lookingstatements are based on our management's assumptions and beliefs in the light of information available tothem at this time. These forward-looking statements are, by their nature, subject to significant risks anduncertainties and actual results, performance and achievements may be materially different 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 useof technology, acts of competitors and other changes to business conditions. 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.

2.6%

3

Holding Structure

IPO December 2006

7.1%

Listed on BSE & NSE in January 20079.4%

Part of NIFTY index & DJIT30

52.1%

Over 200,000 Indian retail shareholders

Market Cap >USD13 billion; amongst India’s top 20

28.8%

FII

Vedanta Group

Institutions

Cairn PLC

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

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

Retail

As on 27July, 2011

4

World Class Asset Base

10 blocks in the PortfolioProduction Blocks

Rajasthan (RJ-ON-90/1)

Cairn (Operator)

ONGC

70%

30%

Exploration Potential

Rajasthan

RJ-ON-90/1 WI 70%

East Coast

KG-DWN-98/2 WI 10%

Cambay (CB/OS-2)

Cairn (Operator) 40%

ONGC

Tata Petrodyne

50%

10%

KG-ONN-2003/1

PKGM-1 (Ravva)

KG-OSN-2009/3

WI 49%

WI 22.5%

WI 100%

PR-OSN-2004/1 WI 35%

West Coast

CB/OS-2 WI 40%

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

Cairn (Operator)

ONGC

Videocon

Ravva Oil

22.5%

40%

25%

12.5%

MB-DWN-2009/1

Sri Lanka

SL 2007-01-001

WI 100%

WI 100%

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

5

Growth Strategy

MaximisePotential inRajasthan

>3,000 km2 in BarmerBasin under contract

Resource base at 6.5bn boe

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

Vision to produce 240kbopd**

Maximiserecovery fromproduction base

Increased Ravvareserves by 20% in2010

>16 years of low costoperations in Ravva

Initiatives to slowdown productiondecline – 4Dseismic, Infill drilling

GBA agreement forsharing gas from theshared reservoir inCB/OS-2

ExecuteRajasthan

development

Mangala currentproduction-125kbopd;potential to reach 150kbopd*

Crude transportsthrough Pipeline

MBA approved peakproduction at 175kbopd

Increased recoverythrough EOR; pilotongoing

Identifynew growthopportunities

Frontier explorationdrilling to commencein Sri Lanka

Exploration andAppraisal drilling inKG-ONN-2003/1

New plays inRajasthan

Existing portfolioenhancement

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

6

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 employeecost, depreciation, depletion, amortisation, and deferred tax) and exploration costThe company started sharing Profit Petroleum with the GoI in the Rajasthan block at the rate of 20% under theProduction Sharing Contract (PSC) framework** as on 30 June, 2011

7

Financial Highlights

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

92

104

691

830

808

95

172

161

174

165

67

74

68

Q1 FY11

Q1 FY12

Q4 FY11

Q3 FY11

Q2 FY11

184

577

0 50 100 150 200 0 200 400 600 800

USD Million

543

610

PAT

576

577

Cash Flow from Operations

62

341

448

Q1 FY12

Q4 FY11

Q3 FY11

Q2 FY11

Q1 FY11 108

337

455

0 200 600 800400USD Million

0 200 600 800400USD Million

8

Rajasthan - Frontier to Producing Basin

Exploration & AppraisalFrontier Exp.1995 - 2002

Development & Production

Mangala

Mangala

ProcessingTerminal

Bhagyam

Aishwariya

OilGas

Rajasthan

Raageshwari

Viramgam

Koyali

Gujarat

Kandla

Jamnagar/ Salaya

Bhogat

Tankers toCoastal Refineries

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

9

Rajasthan Update

Total Pipe Diameter790 mm (32”)

Heat Tube

MPT

Pipeline

High DensityPolyethylene Wrap

Poly UrethaneFoam Insulation

Mangala production ~125,000 bopd; reservoir performance as perexpectations

148 Mangala wells drilled; 96 completed, 64 producing

Saraswati commenced production in May 2011; currentlyproducing at the rate of 250 bopd

Produced and sold >50 mmbbls of crude to Indian refiners; grosscumulative field revenue in excess of USD 4 billion to date

Construction activity on Train 4 at MPT commenced; expected tocommission in Q4 CY 2011 to take the capacity to 205,000 bopd

Reservoir performance & surface facilities ready to supportMangala production of 150,000 bopd; subject to JV and GoIapproval

Bhagyam development on track; 33 wells drilled, expected tocommence production in Q4 CY 2011; subject to GoI approval

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

Data as per 26 July, 2011 press release

10

Rajasthan - Crude Marketing

Mangala World’s longest continuously heated & insulated

pipeline operational

Delivery through ~590 kmheated pipeline

from Barmer to Salaya

Sales arrangements in place for 155,000 bopd• With PSU & Private refineries• Discussions continue with GoI for further nominations

Radhanpur

Crude Pricing

• Reference to comparable low sulphur crude - BonnyLight

ViramgamKandla

• Price represents a 10-15% discount to Brent on basisof prices prevailing for 12 months to June 2011

KoyaliJamnagar/ Salaya

Bhogat

Completion of Salaya to Bhogat section of pipelineincluding Bhogat terminal & marine facility scheduledfor H2 CY 2012

• Access to 75% of India’s refining capacity

Tankers to Coastal Refineries

Pipeline Route

Existing Pipelines

Refinery

11

Rajasthan - Future Resource And Value Potential

Gross InitialIn PlaceVolumes

~4 Billion boeIn Place

Most Likely

Prospective

Gas

140

250

Risked

ProspectiveResource

~6.5 Billion boe

~2.5 Billion boe in35+ prospects

GrossReserves, Resources 1

and Potential 2

ContingentIn Place

GIIP

OilSTOIIP

308BH

+ Others

20 additionaldiscovered

fields includingBarmer Hill

78

R & S 12

707MBAEOR

1 The independent estimates of Reservesand Contingent Resources recentlycarried out by D&M arein line with the CIL estimates

2 Top 35 prospects audited by D&Mrisked resource 178 mmbbls

468

293

A 66

B151

M477

2.1 Billion boe

MBA Fields,Raageshwariand Saraswati

R & S STOIIP

MBASTOIIP1,293

M B A R&SContingentResource

2P+2C MBA EORBarmer Hill+Other Fields

FDP approvedRisked

Prospects,Leads &Concepts

mmbblsmmbbls

Data as per 23 March, 2010 press release

Target

12

Rajasthan - Vision For Growth

MangalaProcessing Terminal

FDPApprovedProduction

MBA••••

Reservoir PerformanceEOR Pilot ImplementationBH Pilots and DevelopmentExploration and Appraisal

Technical andOperational

Capacity205,000 bopd

PotentialProduction

240,000 bopd

• JV Approvals• Additional SalesRegulatory

FDPApprovedProduction175,000bopd

Investment••••

Facilities and pipelineEOR full field implementationBH staged developmentExploration

13

Exploration Programme

I N D I A

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;Further Exploration &

Appraisal drilling FY 2011-12

RAVVAInfill drilling inprogress

Major long term player Large proprietary database Experienced team Successful exploration over 10

years: Success ratio ~50%

RJ-ON-90/1Assessing new plays,generate new prospects

MB-DWN-2009/1Exploration activity

commenced; 2D seismicin Q1 CY 2012

KK-DWN-2004/1

Acquired 300 km2 3D;data processing in

progress

OPERATED

KG-DWN-98/2

3 appraisal wells drilled

KG-OSN-2009/33D seismic planned

by end 2011

PR-OSN-2004/1

Under Force Majeure

SL-2007-01-001

Drilling to commence in August2011 – 3 wells SRI LANKA

NON-OPERATED

India

14

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

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

•

•

Block Area: ~3,000 km2

Water depth: 400 -1,900m

Extension of proven hydrocarbon play (Cauvery/ Mannar)

Under explored, frontier basin with multipleplays

SL-2007-01-001 Exploration Program

•5th generation drillship contracted fromJapan Drilling Company

SRI LANKA•Drilling to commence in August 2011; 3wells planned

50km

Capex Gross Net Financed By

15

Rajasthan – Capex & Funding

USD billion

Exploration (up to 2006)* 0.61 0.57

Development

Net Cash** 1.03

CY 2007 0.31 0.22 Existing debt facility** 0.68

1.70CY 2008 & 2009

CY2010

Total Capex up to CY 2010

Estimated CY 2011

Total Actual & Estimated

1.76

0.75

3.43

1.25

4.68

1.23

0.50

2.52

0.88

3.40

Total

Additional Sources

Cash flow from producing blocks i.e.Rajasthan, Ravva and CB

*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

16

Engaging with the Community

Strategic Intent Proactive engagement with stakeholders Demonstrate leadership in corporate citizenship Partnering with communities through our

principles of respect, relationship andresponsibility

Areas of Focus Education Infrastructure Health Economic

Development

17

Summary

Rajasthan

•

•

•

•

•

•

•

Mangala production at its currently approved plateau of 125,000 bopdDelivery to domestic refiners through pipelineGross field revenue in excess of USD 4 billionEnhanced oil recovery potential; pilot ongoingWorld class resource base – focussed on delivery & growthVision to produce 240,000 bopdStrong 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

18

Contact Details

Investor RelationsAnurag Mantri, Group Financial ControllerEmail: cilir@cairnindia.comM: +91 – 98103 01321

MediaManu Kapoor, Director – Corporate Affairs & CommunicationsEmail: cilmediainfo@cairnindia.comM: +91- 97178 90260

AddressCairn India Ltd4th Floor, Vipul PlazaSun City, Sector-54Gurgaon 122 002, Indiawww.cairnindia.com