ANNUAL INVESTOR CONFERENCE 2019

1 The Macro Outlook – Undergoing a Change

5.5% Real GDP Growth 5.0% 4.8% 4.9% 4.5%

4.5% 4.4%

4.0% 3.6% 3.6% 3.6%

3.5% 3.3%

3.0%

2.5% 2.2%

2.0% 1.8% 1.7% 1.7%

1.5%

1.0% 2018 2019E 2020E 2021E Advanced economies Emerging market and developing economies World

Over 70% of the world’s economies are expected to decline in 2019, led by the consistent decline projected for Advanced Economies. The Emerging Economies are expected to pick up the growth starting from 2020

Source: “World Economic Outlook (April 2019)” released by International Monetary Fund 2 The Macro Outlook – Headwinds

▪ Escalating Trade Disputes – China , Iran. Divided Political scenario

▪ Falling levels of manufacturing and retail sales; US Trade tariffs

▪ Brexit stalemate. Impact across all EU economies

3 The Story

Real GDP Growth Rate

7.80% 7.7%

7.70%

7.60% 7.5%

7.50%

7.40% 7.3%

7.30%

7.20% 7.1%

7.10%

7.00%

6.90%

6.80% 2018 2019E 2020E 2021E

Slew of measures anticipated from new government to generate growth.

4 The India Story – Possible Headwinds

▪ Volatile crude oil prices

▪ Liquidity Crunch

▪ Agri and Rural sector challenges

▪ Social Costs

▪ Global macroeconomic risks

5 RPG Group – How We Will Withstand the Challenges

▪ Healthy balance sheet and fundamentals

▪ Setting standards in Corporate Governance

▪ Core sector presence. Established players with track record

▪ Talent pool

6 RPG Group – How did we Fare?

▪ KEC - Successful scaling up of Railway and Civil businesses

▪ CEAT - Laying the capital expansion foundation for future growth

▪ Zensar - All the core engines firing in all the right ways. Digital Push

▪ RPG Life Sciences - Evolving in the dynamic and challenging environment

7 RPG Group Culture – Inspiring Innovation

▪ KEC – Innovation in tower design. Drones for transmission line stringing

▪ CEAT - Puncture Safe tyre, Milaze 1L kilometer tyre

▪ Zensar – ZenATS provides real-time asset tracking & allocation for enterprises

▪ RPG Life Sciences –Adopting sustainable practices in API business

8 Shareholder Wealth Creation

22.00 Group market cap ~ Rs 19,000 Cr

17.00

12.00 CEAT: 11.7x

7.00 KEC: 5.2x Zensar: 4.8x RPG LS: 4.1x

2.00 BSE Sensex: 2.3x Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 Apr-19

-3.00

KEC CEAT Zensar RPG LS Sensex

9 Tallest Tower in – 184 metres

OHE Railway Project

Factory For A Reputed Automobile Manufacturer

KEC Annual Investor Conference

June 12, 2019 Transmission Line, SAE, Brazil Highlights For The Year 2018-19…

MULTI-LOCATIONAL Financial HighlightsMANUFACTURING T&D Order inflows backed by buoyant international 8 Manufacturing facilities markets; Strong closing order book of Rs 15,000 Crs • Revenue acrosscrosses India, Rs 11,000Brazil and Crs Mexico • EBITDA marginsManufactures at 10.5%; Towers, improved by 50bpsCables, over Poles FY18 and Hardware Non T&D Revenue share increases to 36% in line with our diversification strategy • PAT closer to Rs 500 Crs mark at Rs 496 Crs

• Closing Order Book at Rs 20,307 Crs; Y-o-Y growth of 17% Working Capital and Borrowing levels normalized in Q4; Gross Borrowings at Rs 1,845 Crs – same level as FY18 • ROCE improves to 26.6% vis-à-vis 24.7% in FY18

SAARC & Brazil - T&D, Railways & Civil continue to remain the Growth drivers …

11 Transmission & Distribution – Strong Orderbook Ahead

220 kV Tower to GIS Substation, Khalste (Kargil) Key Highlights • FY19 T&D Revenues of Rs 7,305 Crs

• Significantly strengthened presence in SAARC with Market share of ~25%;

• Expanded into 5 new countries including Nicaragua () & Papua New Guinea (Oceania)

• SAE: Execution of all 3 EPC projects commenced

• Widened portfolio from Abu Dhabi, Oman, Saudi to include Dubai, Jordan & Egypt

• Substation footprint widened

• Execution headwinds faced in private projects in India in FY19;

Order book +L1 of Rs 18,000 Crs plus to drive FY20 T&D growth

12 Railways – Over 100% Revenue Growth Y-o-Y

Key Highlights • Key operational areas : Track doubling/tripling, Electrical work, Signaling & Telecom, New Lines • Order Book at Rs 5,000 Crs plus with a pan India presence in Conventional Railway contracts • Composite projects contribute ~70% to the Order Book • 1,850 Kms OHE done by KEC in FY19 – being 33% of 5,500 Kms OHE completed by Indian Railways Traction Substation work Sleeper Lifting work Revenues: • Doubling Revenues for third consecutive year - nearing Rs 2,000 Crs mark Railways Business Revenue (Rs Crs) 1,918 9.1x

844 446 210

Major Bridge work at a Composite project FY16 FY17 FY18 FY19

13 Other Non T&D Businesses – Growth Momentum Continues

Civil Construction of a 140 m tall Preheater & 40 m wide Clinker Silo for a Cement plant • Revenues doubled closer to Rs 500 Crs mark • Pan India presence with projects in Factories, Buildings • Deploying latest equipment and best in class Formwork technology for Silo construction • Client base expanded to 17 clients; • Marquee clientele in various sectors such as Automotives, Cement, Metals, FMCG, Residential, etc. • Fast track execution of projects; Use of digital technology to optimize work Cables 2 000 000+ • Revenue growth (Y-o-Y) of 17% Square feet of industrial workshop • Higher share of Exports / EHV cables 100 000+ Smart Infra Cubic meters of concreting • Successfully taken off in first year of commercial operations 5700+ • 2 order wins in Aurangabad and Bidkin Smart Cities aggregating Metric Tons of PEB erected to Rs 230 Crs

14 Growth Drivers For Next 3 Years

• SAARC: Bangladesh building national grid; Afghanistan rebuilding network; 3 yrs - USD 6.5 Bn opportunities • Brazil: Market size of USD 3-4 Bn in Brazil, keeping the EPC opportunities strong • India: Green Energy segment, Power for all & State T&D Capex to drive T&D growth

TRANSMISSION & DISTRIBUTION

• Strong Budgetary • Ongoing focus on allocation continues: Rs R Factories & Buildings 1,59,000 Crs for FY20 A • Government contracts in C commercial buildings, • Target areas I I hospitals, etc L ✓ OHE & Conventional V • Airports Railways W I A • Capex light infrastructure ✓ Signaling & Telecom L – elevated corridors, Y station redevelopment, ✓ DFCC / Metros / RRTS S etc. • International markets

The macro indicators listed above in addition to our existing order book to drive mid-term growth

15 CEAT Annual Investor Conference June 12, 2019 Overview

Financial Update FY 19 Revenue Breakup by Product

Speciality, 6% ✓ FY19 Sales at INR 6,985 Crore; 11.2% growth Farm, 7%

Truck and Buses, Passenger Cars / 31% UV, 13% ✓ EBITDA at INR 663 Crore; margin at 9.5%

LCV, 12%

✓ PAT at INR 251 Crore; margin at 3.6% 2/3 Wheelers, 31%

FY 19 Revenue Breakup by Market

✓ Debt / Equity ratio at 0.54x Exports, 14%

CEAT became a

OEM, 31% $1 Billion Revenue Replacement, 55% Organization

Note : Consolidated revenue breakup 17 Auto Sector Performance

Passenger Vehicles (YoY growth per month) 38% 20% 7% 2% -3% -2% -6% -3% 0% -2% -1% -3% 3%

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY19

Commercial Vehicles (YoY growth per month) 76% 43% 42% 30% 30% 24% 25% 18% 6% -8% 2% -3% 3% Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY19

2-Wheelers (YoY growth per month) 22% 17% 18% 9% 8% 7% 3% 4% 5% -2% -6% -4% -17%

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY19

18 Strategy

Differentiated Product OEM Relationships

Strong Brand World Class R&D

Extensive Distribution Global Reach

19 1 Differentiated Products

130K 140K Kms Kms

CEAT

Benchmark WinMile X3-D

Milaze X3 Gripp X3 WinMile X3-D Mileage up to Everlasting Grip Tyres Best mileage in 1,00,000 Kms for cars for motorcycles Long-haul for trucks

20 2 Strong Brand

Cricket Association grows stronger… Official Partner of Torino FC

Continued association with Sports

Innovative Marketing

21 3 Extensive Distribution

CEAT Shoppe Shop in Shop (SIS) Multi Brand Outlet CEAT Bike Shoppe

CEAT District Coverage

4500+ 280+ 612 Dealers 2W Distributors 464

212 500+ 400+ CEAT Franchisees MBO / SIS FY12 FY15 FY19

22 4 OEM Relationships

Top OEM Recognitions

Excellence in Consistent High Maruti Suzuki Hyundai Customer Delight Performance OEM Relationships

KIA Motors Ford Hyundai Skoda Renault Nissan

Volkswagen Piaggio Peugeot TATA Motors Daimler Honda

Maruti Suzuki Ashok Leyland Eicher Datsun Bajaj Hero

Mahindra & Mahindra Escorts Royal Enfield Yamaha Suzuki

Project entered/launched over last 18 months 23 5 World Class R&D

State-of-the-Art R&D Center, Halol R&D Office, Germany

▪ Significant investment on tyre testing infrastructure like Anechoic Chamber, Flat Track Test Machine

▪ Focus on upcoming technologies like Electric Vehicle, Sustainability and Smart Tyres

24 6 Global Reach

Successful Launch in Europe

✓ Exports to 90+ Countries in 7 clusters

: Leadership position in the market and with 50+% market share

✓ Entering other territories like Australia and New Zealand 4 Season Drive & Official Tyre Partner of Endura Drive Torino FC

Italy and Spain continue to perform well

25 Growing Share of Passenger Segment

14% FY10

26% FY14

45% FY19

Revenue % from Passenger Car and 2/3 Wheeler

26 Capacity Expansion – the Game Changer

Existing Additional

TBR 1,400 tyres/day 2,800 tyres/day at Halol Rs. 1,000 Cr

PCR 20,000 tyres/day 28,000 tyres/day at Chennai Rs. 2,050 Cr

2W¹ 90,000 tyres/day 50,000 tyres/day at Rs. 450 Cr

OHT 40 tons/day 60 tons/day at Ambernath Rs. 500 Cr

Total CAPEX of Rs. 4,000 Crore

1. 2-Wheeler includes capacity 27 Zensar Technologies Annual Investor Conference June 12, 2019 Digital is growing ~6.5X faster

$ 410+ $ 170+ Bn 3.3% CAGR Bn Overall Global Technology $ 580+ Bn $ 510+ Bn 24.6% CAGR Digital $ 790+ Bn $ 910+ Bn 2018 2022 $ 3.1 Tn $ 3.6 Tn

Technology Spend Technology Spend in Digital Spend in in Zensar’s Focus Zensar’s Focus Verticals Zensar’s Focus Verticals & Regions Verticals & Regions

29 3 years ago, we embarked on a bold journey to make Zensar Living Digital 100% Enterprise

30 Living Digital Journey, so far

25M+ 1.9M+ Client Projects Sessions Downloads Skill Training, HR

Zenlabs, Innovation

930+ 50+ Finance Releases Business Processes IT Systems 34 100% Talent Supply Chain Platforms Adoption Marketing, Sales

31 Innovation through Zenlabs

2+ Years Conversation

Amazing al al AI 200+ Zensarians

Blockchain Unique 55 patents

Total patent 90 filings across all Imagine Design Engineer Accelerate geos

32 Significantly enhanced Digital expertise

Through strategic acquisitions in last 2+ years

Experience Design Digital Digital P&C Experience Design Europe Supply Chain Insurance US

33 @ Scale winning momentum

$100 Mn $50 Mn Global 500 Diversified Brand Tier 1 Retailer $750 Mn+ $50 Mn $40 Mn Medical Device Mfg. Fortune 500 Technology Leader TCV wins, LTM $30 Mn $30 Mn

Tier 2 Insurer carrier Global Financial Services

34 Growing significantly faster than the industry

3.9% CQGR Zensar Growth 150.1

143.7 2.1% CQGR* 138.1 Industry Growth 135.0

126.6 122.6 118.6 114.3 110.9

Q4 FY17 Q1 FY18 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19

*Nasscom Data Zensar financials in US$ Mn

35 FY 19 – Executive Summary

36 Thought Leadership – Global Recognition

37 Next phase of Market Growth – Move beyond Digital

Zensar wins MEGA Business Operations deal at a Fortune 100 Technology Conglomerate, registering the largest win in our history

38 ROD NeXT

Zensar wins MEGA Business Operations deal at a Fortune 100 Technology Conglomerate, registering the largest win in our history

Human AI is central to Smart, Secure, Experience is Digital Integrated Transformation the new value chain Platforms

DX spend at $ 1.7 Business value Cloud and Platform Trillion from AI at $ 1.2 spend Trillion at $ 530 Billion

39 Case Study - Human Experience World’s leading technology company crafts new brand positioning for its premium line of products

Human Experience strategy helps boost sales by 32%

Human Experience

40 Case Study - Artificial Intelligence AI driven real-time telematics, weather, driving pattern etc, reduce vehicle maintenance cost by 48%

Artificial Intelligence

41 Case Study - Smart Platforms Global Tech Leader utilizes Blockchain & SaaS platforms to transform Supply Chain, Sales and Services - 20 X improvement in attach rate for advance tech solutions

Smart Platforms

42 Operationalizing ROD NeXT

Platform at the core

Lean First, Automation First

Sharp focus on core

Global operations

Talent Transformation: Skill Development @ Scale

43 RPG Lifesciences Annual Investor Conference June 12, 2019 RPGLS: A transformation journey in progress

Portfolio clean-up Growth restoration Profitability upliftment Leadership strengthening USFDA ANDA filing approval

Specialty strengthening Brands acquisition

Bio-tech Focused investment in sell-off Formulations business

45 FY19: A difficult year, after 3 strong years

FY 15-16 FY 16-17 FY 17-18 FY 18-19

Results Results Results Results Sales (Rs cr.) 251 292 344 331

PBT (Rs cr.) 8.4 14.5 20.4 15.05

PBT % 3.3% 4.9% 5.9% 4.5%

PAT (Rs cr.) 8.4 12.09 13.45 10.81

PAT % 3.3% 4.1% 3.9% 3.3%

Note : Sales, PBT figures are excluding bio-tech business for all the two past years FY 16 and FY 17 to provide a like-to-like comparison. The published gross results are provided at the end of this presentation.

46 Domestic: Set back in Mass Formulations

Challenges Faced

35% ▪ Market slowdown in represented segments ▪ High reliance on trade; low focus on Rx generation ▪ High in-market inventories, expiries & returns

De-growth of 21% Actions Initiated

Loss after 2 years of ▪ Change in business leadership profits ▪ Renewed focus on Rx generation ▪ Discounts & promotion optimization Gross Margin ▪ Product Portfolio Augmentation : Chronic Therapies; Line maintained ~55% Extensions of Legacy Products

47 Domestic: Specialty segment continues to grow

Challenges Faced

▪ Low volume growth in Nephrology business ▪ Price control and low margins in Oncology business 24% ▪ Slower than targeted ramp-up in Urology business

Growth of 12% Actions Initiated

Improved profitability ▪ Focus on new prescribers & new indications for Azoran ▪ Continued product portfolio augmentation (Bio-similars, Continued investment Therapy gaps, Co-Rx products) in Specialty ▪ Diligent Medico-Marketing engagement with target doctors especially in Urology

48 Intl Formulations: Challenging year but investment continues

Challenges Faced

▪ Loss of 1 key customer in UK for Azathioprine 20% ▪ Steep price corrections in UK market ▪ High dependence on tenders/ B2B in emerging countries

De-growth of 8% Actions Initiated

Investment towards ▪ Significant efforts to ensure 24X7 audit readiness plant upgrade and ▪ Second plant being upgraded to regulated market product pipeline standards continues ▪ ANDA filed for first product for the US market ▪ Dossier filed in UK for Sodium Valproate

49 API: Continues to be a strong cash cow

Challenges Faced 21% ▪ Limited customer & molecule base ▪ Legacy plant not capable of upgradation to regulated market standards

Strong growth & Actions Initiated profitability ▪ Manufacturing Strategy optimisation - Outsourced Good demand manufacturing initiated with USFDA approved API momentum for suppliers for key molecules exports ▪ US DMF approval for Azathioprine received; source change process started

50 FY19: Improvements visible in H2

Gross Contribution (% to Sales) Opex (% to Sales)

66% 67% 58% 55%

H1 H2 H1 H2

EBDITA (% to Sales) PBT (Rs Crs) 9.36

12% 5.69 9%

H1 H2 H1 H2

51 Strategy Forward : Continued focus on Formulations

▪ Focus : Downstream integration for formulation business; selective market expansion ▪ Strategy : Own technology; judicious mix of In house and outsourced manufacturing

API

▪ Focus: Above market growth with strong profitability ▪ Focus: Growth/ Entry in ▪ Strategy: Product regulated/B2C markets portfolio augmentation, Domestic International ▪ Strategy: Niche products Prescriber base FormulationsAPI Formulations pipeline, Partnership for expansion, Field force NPD; USFDA approval of capability building the plant

52 Group Performance Annual Investor Conference June 12, 2019 RPG Group – Transformational journey

Focused on core area to Play and Win: ▪ Identified strategic priorities ▪ Augmented related capability / capacity

Pursued financial discipline Profitability improvement: ▪ Reduce leverage ▪ Cost optimization ▪ Working capital efficiency ▪ Securing margin profile

Unlocking Value

54 An impactful turnaround

Rs Crore Particulars FY2014 FY2019 5 year CAGR Total Turnover 18,000 25,500 +7.2%

Operating Profit 1,600 2,660 +10.7%

PAT 599 1,085 +12.6%

Market Cap3 6,741 19,239 +23.3%

Debt / Equity 1.06x 0.50x

Debt / EBITDA 2.29x 1.58x

Notes : 1. 2014 figures of Turnover and Operating Profit are as at end of Q3 FY14 on a TTM basis 2. 2014 figures are as per IGAAP and 2019 figures are as per IND AS 3. Market Cap (BSE) as on 3rd June 2014 and 3rd June 2019

55 Significantly improved rating profile

Company FY2014 FY2019

CEAT AA- AA

KEC International A+ AA-

Zensar Technologies AA AA+

RPG Life Sciences BBB+ A-

*Credit rating for long term debt Resilient Business & Financial Profile

56 RPG Group – Underlying attributes

Diversified conglomerate With high quality teams

Conservative approach With growth oriented mindset

Dynamism led With strong culture pillars

Prudent conduct With financial robustness

Growth With Sustainable Agenda

57 Strategic - Way forward

Building Enhancing Capability Capacity

Profit Liquidity Orientation Management

Poised for Creating Value

58 T H A N K Y O U