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
February 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
Holding Structure
IPO December 2006
Other Institutions
Retail
MF
Listed on BSE & NSE in January 2007 FI 2%
3%
5%
10.1% 2%
FII
6% 21.8%
Part of NIFTY index & DJIT30 6.4%
Over 200,000 retail shareholders 59%
22%
Market Cap >USD13 bn; amongst India’s top 20
Cairn PLC
Total Equity of 1,903 m shares; Free float ~19%** Vedanta Group*
59.0%
Board comprises of 8 members; 4 independents, 3
nominees from Vedanta Group, 1 Cairn India Executive
DJIT30: Dow Jones India Titans 30 Index,**Free float excludes Cairn PLC holding
*Twin Star Mauritius Holdings Ltd 38.8%, Sesa Goa Ltd 18.5% , Sesa Resources Ltd 1.7%, As on 18 Jan, 2011

4. 4
Overview
Top 20 independent E&P company with market cap of >USD13 bn
Leading Operates ~20% of India’s domestic crude oil production (~170,000 boepd)
E&P Player >1 billion barrels reserves / resources base; Net Cash of >USD1.2 bn
Diverse international workforce of 1,300+ people
Opened up 3 new frontier basins with over 40 discoveries
USD 4 bn Rajasthan Project – Discovery to Production in 5 years
Proven
Capabilities Built world’s longest (~600 kms) continuously heated and insulated pipeline
Low cost operator; Innovation through application of technology
Become a global, world class E&P company
Establish a diversified & sustainable portfolio
Vision
Deliver long term value to Government, Local Communities and all
stakeholders

5. 5
World Class Asset Base
10 blocks in the Portfolio
Production Blocks Exploration Potential
Rajasthan (RJ-ON-90/1)
(RJ-ON- 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)
(CB/OS-
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%
(PKGM-
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
Q3 FY 2011-12: Average Daily Gross operated production at 169,580 boe; Cairn (Working Interest) at 98,969 boe

6. 6
Strengths
Proven technical expertise
Low cost, project execution skills
Innovative application of technology Non-
Non-OECD
Company with
Strong balance sheet Global Capabilities
Partnership and community development
Global, multi cultural workforce
“Fastest growing “Mangala: Project of “Golden Peacock
energy company in the Year 2011” Award for Corporate
Asia, 2011” - Project Management Social
– Platts 250 Institute (PMI) Responsibility, 2011”

7. 7
Operational Highlights
Mangala field consistently producing at 125,000 bopd since
August 2010; continue to pursue higher offtake of 150,000bopd
Bhagyam field commenced production; safely proceeding to
reach its currently approved plateau rate of 40,000bopd
10.1%
Target to exit FY 2011-12 at 175,000bopd from Mangala and 21.8%
6.4%
Bhagyam fields
Development of Aishwariya field underway with EPC contractors
engaged
Significant part of currently envisaged basin potential of 240,000
bopd to be met from MBA fields in CY 2013
Bagged 12 awards in the “Silver Jubilee Mines Safety Week” 59.0%
function at Bikaner, Rajasthan under the aegis of the Directorate
General of Mines Safety
Two successive discoveries in frontier Mannar Basin, Sri Lanka;
notified the Government of Sri Lanka of its intention to enter
Phase 2 of the exploration period

8. 8
Financial Overview
USD m Q3 FY 2011-12
2011- 2010-
Q3 FY 2010-11 FY2011-
9 Mth FY2011-12 2010-
9 Mth FY 2010-11
Revenue 610 691 2,019 1,452
Opex 92 102 290 241
EBITDA 467 567 1,622 1,160
DD&A 75 64 221 160
Other Income (incl
82 8 223 6
forex)
PBT (before
469 494 1,583 951
exceptional item)
Tax 23 46 66 100
PAT 446 448 1,223* 851
EPS (INR per share) 11.9 10.6 30.2 20.4
CFFO 421 455 1,425 900
* Includes exceptional item of one time Rajasthan royalty adjustment
Reduced nation’s crude oil import dependency by ~USD 1.5 bn on a gross basis in Q3 FY 2011-12
Gross contribution to the national exchequer (excluding direct taxes) was ~USD 500 m in Q3 FY 2011-12

9. 9
Production Profile and Price Realization
Oil Price Realization (RHS) Brent (RHS) Rajasthan Ravva Cambay
180 174 172 120
170 169
161 117
160 109
105 113
106 101 100
140 86 103
94
120 80
Kboepd
76
USD/bbl
100
60
80
60 125 125 125 40
118 125
40
39 33 38 36 37 20
20
10 10 9 9 8
0 0
Q3 Q4 Q1 Q2 Q3
FY 2010-11 FY 2011-12

10. 10
Low Cost and EBITDA Margin
Other Costs Field Direct
(USD/boe) Opex (USD/boe)
11 11 11
10
10
Low Cost Operator with field direct operating
cost at ~USD 2.1 / boe 9
8 9 9
8
2 3 2 2 2
Ravva field direct operating cost is amongst the
lowest in the world Q3 Q4 Q1 Q2 Q3
EBITDA Margin (%)
High EBITDA Margin of more than 75% primarily 82 84 85 78 77
due to lower costs
Q3 Q4 Q1 Q2 Q3
FY 2010-11 FY 2011-12

11. 11
Rajasthan - Frontier to Producing Basin
Frontier Exp. Exploration & Appraisal Development & Production
1995 - 2002
Mangala Mangala
Processing
Terminal
Bhagyam Aishwariya
Oil
Gas
Rajasthan
Raageshwari
Gujarat
Viramgam
Kandla
Jamnagar Koyali
/ Salaya
Bhogat
Tankers to
Coastal Refineries
25 discoveries to date, >3,000 km2 approved development area

12. 12
Rajasthan - Production and Crude Offtake
Produced and sold >70 mmbbls of crude to Indian refiners;
gross cumulative field revenue in excess of USD 6.5 bn to date
Sales arrangements in place for 170,000 bopd
10.1%
• With PSU & Private refineries
21.8%
• Discussions ongoing with GoI and private players for FY 6.4%
2012-13
Crude Pricing
• Reference to comparable low sulphur crude - Bonny Light
• Price represents an average of 10-15% discount to Brent on
basis of prices prevailing for 12 months to Dec 2011
59.0%
Construction work on ~80 km Salaya to Bhogat section of
pipeline including Bhogat terminal & marine facility is ongoing
• Access to 75% of India’s refining capacity

13. 13
Rajasthan – Resource and Value Potential
Resource Under Development Future Development & Prospective Resource Total
Potential
Gross
Inplace MBARS 2.10 BH + 19 Disc. 1.90 EXPLORATION ~2.50 ~6.5 bn boe
Gross
Recoverable ~1.0* (~48%) 0.14 (~7%) 0.25 (~10%) ~1.4 bn boe
Expected Gross
Production Significant part of
240
175
Note-
*Gross Recoverable
Includes EOR potential of
308 mmbbls
MBARS –
Mangala, Bhagyam, Aishwar
iya, Raageshwari, Saraswati
2011-
Exit FY 2011-12 2013**
CY 2013** ** Sometime in CY 2013
Resource Data as on 31
Production in kbopd March 2011

14. 14
Rajasthan Capex & Funding
Capex Gross Cash (USD m) Debt (USD m)
Gross Net
Exploration (till FY
0.63 0.56
2010-11)
889 1,249 1,447 1,734
Development
1,449
Till FY 2010–11 2.99 2.09
FY 2011-12 E ~0.50 ~0.35 695 598
422 276 235
FY 2012-13 E* 1.00 -1.25 0.70 - 0.87
Q3 Q4 Q1 Q2 Q3
Cash Position (as on 31-Dec-11)
FY 2010-11 FY 2011-12
Gross Cash 1.45
Net Cash Company with debt equity ratio of 0.03 as
Debt (0.24) on 30th Sept 2011
Net Cash 1.21 * ~70% of the capex is expected to be spent on the
MBA, facilities including pipeline
Numbers in USD bn

15. 15
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
generate new prospects
Nagayalanka-1Z discovered;
Exploration & Appraisal well
drilling in progress
MB-DWN-2009/1
Under Force Majeure
RAVVA
Infill drilling
completed
KK-DWN-2004/1 59.0%
Acquired 300 km2 3D;
data processing and KG-DWN-98/2 KG-OSN-2009/3
interpretation completed Under Force
Decided to sell off the
Majeure
OPERATED stake
SL-2007-01-001
NON-OPERATED
Two successive discoveries; notified PR-OSN-2004/1
the Govt. of SL of its intention to
Under Force Majeure
enter 2nd Phase of exploration SRI LANKA

16. 16
2007-01-
Exploration - Sri Lanka Block (SL 2007-01-001)
Cairn Lanka 100%; Working Interest (NOC
back-in 15%)
• Cairn India’s first overseas venture
10.1%
• Block Area: ~3,000 km2
• Water depth: 400 - 1,900m 21.8%
6.4%
Under explored, frontier basin with multiple
plays
Exploration Program
• First phase of exploration completed
SL-2007-01-001
SL-2007-01-
• Successive discoveries in two of three
exploration wells drilled
59.0%
• Establishment of working hydrocarbon
system in the basin
SRI LANKA
• Notified to the Govt. of SL of its intention to
enter phase 2 of exploration
50km

17. 17
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

18. 18
Summary
Rajasthan
• Mangala producing at 125,000 bopd since August 2010; pursue higher offtake of 150,000bopd
• Bhagyam field, 2nd largest discovery in Rajasthan block commenced production
• Delivery to domestic refiners through worlds longest continuously heated and insulated pipeline
10.1%
• Gross field revenue in excess of USD 6.5 bn
• Enhanced oil recovery pilot continues to progress well 21.8%
6.4%
• World class resource base – focussed on delivery & growth
• Significant part of currently envisaged basin potential of 240,000 bopd to be met from MBA
fields in CY 2013
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 2.1/bbl*
59.0%
Gross contribution to the national exchequer (excluding direct taxes) ~USD 9 bn till date
Success through innovative application of technology SRI LANKA
Two successive discoveries in frontier Mannar basin in Sri Lanka; notified the Govt. of SL of its
intention to enter Phase 2 of exploration
* For the period Q3 FY 2011-12

19. For More Information log on to:
www.cairnindia.com