Discovering Hidden Value

Investor Presentation November 2013

Discovering Hidden Value Disclaimer

These materials contain forward-looking statements regarding Cairn, 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 undertakes no obligation to revise any such forward-looking statements to reflect any changes in Cairn's expectations with regard thereto or any change in circumstances or events after the date hereof.

Discovering Hidden Value Investor Presentation, November 2013 2 Creating Value Through Exploration Led Growth

 Significant gearing to exploration success Exploration  Atlantic Margin, Mediterranean, North Sea; led growth  >$300 million exploration spend per annum  Frontier wells targeting >4 billion boe of mean unrisked gross prospective resource in 2013 / 2014

Full cycle E&P  Balance Sheet strength capability with  Funded to deliver drilling and development programme funding strength and  Target sustainable production to deliver exploration flexibility capital from cash flows

 Focus on value not scale with active portfolio management Create and  Returned $4.5 billion to shareholders in last 5 years realise value  Programme to repurchase up to US$300 million (m) of ordinary shares in the company to be reviewed by the Board on a quarterly basis

Discovering Hidden Value Investor Presentation, November 2013 3 Strategic Delivery

 Commencing an active operational period after building balanced portfolio  Multi-well exploration campaign over next 12 Create months with increased targets: Value  >4 billion boe gross mean unrisked prospective Explore Discover resource within a total yet to find (YTF) potential Invest Acquire >10 billion boe

 Organic growth value potential highlighted by partnerships (Statoil / ConocoPhillips) and increased industry activity exploring the same plays Realise Add  Kraken and Catcher on-track to provide future cash flows Value Value Produce Transact Organic Growth  Financial discipline Sell Re-invest Transact Develop Cash return  Active portfolio management

 Balance sheet strength

Discovering Hidden Value Investor Presentation, November 2013 4 Operational Targets

2013 2014 2015

Morocco Senegal Senegal Potential Morocco Greenland Cajun (Op) (Op) (Op) Future

(Op) (Op) Express Cap Deepwater Shelf Exploration Foum Draa Pitu 1 year Juby Fan Prospect contract Spain Future Malta prospect Mauritania generation Ireland Blackford Ireland Morocco Dolphin (Op) Senegal Greenland Transformational Transformational New Ventures UK Exploration Programme Exploration K Prospect

9/1a (Op)

Future Farm-ins FDPs on North Sea Bid Rounds Developments prospect New Kraken and Catcher generation Opportunities

Continental Shelf Continental North Sea Exploration and Appraisal Programme (Non-Op) – ongoing

( target >4 wells per year ) North Sea and Norwegian and Sea North

Target timetable subject to necessary approvals

Discovering Hidden Value Investor Presentation, November 2013 5 Funding and Capital Allocation

Funding Financial Assets at 30 September 2013

 Financial assets ~$2.4bn* Cash $1.4bn  Debt finance to be secured

 Free cash flow from completed development projects Cairn India (CIL) Stake ~10.3%) ~$1bn Allocation

 2013 / 2014 combined E&A drilling programme includes more than 15 wells, totalling ~$700m Financial Assets at 31 December 2012

 Allocate capital to maximise shareholder returns Cash over the cycle $1.6bn  ~50% of available liquidity used to fund development capex  Balance focussed on exploration and appraisal CIL Stake $1.1bn

Discovering Hidden Value * As at 30 September 2013 Investor Presentation, November 2013 6 Funding Platform for Ongoing Business

Development Projects 9/1b 9/1a 9/2b Cairn 40% Cairn 100% Cairn 25% (Non-Op) (Op) (Non-Op) Kraken

 Project sanctioned H2 2013 K Prospect Kraken  Operator’s gross reserves ~137mmboe, Cairn 25%

9/2c  Operator anticipates second heavy oil allowance Cairn 25% (Non-Op)

 Carry of $150m - $240m based on reserves*

28/8 28/9a 28/10c Cairn 46% Cairn 30% Cairn 30% Catcher (Non-Op) (Non-Op) Catcher (Non-Op) Varadero  Through concept selection phase

28/9b Carnaby Cairn 30%  Draft FDP expected H2 2013 (Non-Op) Burgman

Bonneville

*reserves determined by a competent person during the development drilling phase

Discovering Hidden Value Investor Presentation, November 2013 7 Exploration Strategy

To seek hidden value through transformational Frontier Basin Exploration exploration potential Mature Basin Exploration

Frontier and potentially high impact New plays and prospectivity close to exploration plays of the Atlantic Margin existing pre-development projects in (Senegal, Morocco, Greenland, Ireland, the UK North Sea and Norwegian Mauritania and Spain) continental shelf Ireland UK Norway

Spain

West Greenland

India Residual CIL shareholding South Greenland

Senegal Mauritania Morocco

Growing Prospect and Lead inventory to provide sustainable exploration activity into the future Currently 62 prospects and 144 leads Near-term exploration drilling programme targets top ~10% of prospects

Discovering Hidden Value Investor Presentation, November 2013 8 Geological Focus North Atlantic Margin – Play fairways associated with super-continental break-up

UK and Ireland Norway West Greenland Greenland

Norway South Greenland

Ireland

Spain

Morocco

~175Ma Middle Jurassic Plate reconstruction Mauritania (PLATES/UTIG, 2009)

Senegal Senegal Mauritania Morocco Spain

Discovering Hidden Value Investor Presentation, November 2013 9 Frontier Exploration North Atlantic Margin Different Geographies Similar Geologies

G Schematic NS  True frontier province with proven Jurassic and WS Cretaceous oil prone source rocks in incipient rift and restricted marine basin settings B Majors Enter Nova Scotia Deepwater  Diachronous geological processes along margin Dec 2012  Key proven data points indicate oil potential Deepwater Drilling N Moratorium  Deep-water margin off the US east coast has had a drilling moratorium since 1982 and

CJ remains unexplored

 Multiple industry players are becoming AC increasingly active along accessible frontier NW Africa impending industry deepwater and frontier exploration activity parts of the north Atlantic Margin (NW Africa, RD Rift Basins Canada, Ireland and Greenland)

 The majors entered deep-water Canada off the Key proven oil data points: coast of Nova Scotia in Dec 2012 CJ Cap Juby (Morocco) N Newfoundland oil province

AC Aigrette-1 / Chinguetti (Mauritania) G Cairn Alpha well, Disko Bay Cairn is actively pioneering exploration along the margin RD Rufisque dome (Senegal) WS West of Shetland and has secured a growing acreage footprint B Burren (Ireland) NS North Sea using its knowledge and operational edge

Discovering Hidden Value Investor Presentation, November 2013 10 June 30th Snapshot of Prospect Inventory

PoCS vs.PoCS Gross Unrisked vs. - All Gross Prospects - Current Unrisked - Prospects

62* Prospects 70% Marginal / (and 144 leads still being Sub-Commercial worked on but not shown)

More Work Needed

60% UK and Drillable / Norway Commercial Ireland Spanish Point is a Spanish Point Discovery and not a Field 50% Greenland prospect, but is shown for comparative Pitu Py Prospect purposes

Example of exploration 40% Ireland lead yet to be matured Spanish Point Senegal post Exploration ConocoPhillips Senegal as a prospect

Probability Of SuccessCommercialProbability farm out

30%

UK K Lead 20%

Probability of Commercial Success (PoCS) Success Commercialof Probability Senegal Deepwater Fan ‘Bubble’ Size Proportional to 10% Net To Cairn Risked Morocco Commercial Greenland Prospective Resources 0% 5 50 500 * Includes 3 prospects covered by 3D 5000 seismic in Southern Greenland extension Gross Unrisked Prospective Resources (MMBOE) area yet to be awarded Discovering Hidden Value Investor Presentation, November 2013 11 Morocco Frontier Exploration Atlantic Margin Nova Scotia Offshore Activity  Extensive industry focus on new Shell, BP, Chevron, play types Exxon, and EnCana

Schematic Plate Reconstruction - After Luheshi 2012  Proven hydrocarbon systems

 Cairn operates a substantial Spain acreage position in Morocco Newfoundland  > 8,500 km2 (equivalent to ~38 North Sea blocks)

 Positive contractual and fiscal terms Morocco

 Exploration wells targeted 2013 / 2014 Morocco

Morocco Offshore Activity Operators include: Cairn, Chevron, Genel, Galp, Plains, Kosmos, Chariot, Total, Repsol and Teredo

Discovering Hidden Value Investor Presentation, November 2013 12 Morocco Foum Draa Prospect and Planned Exploration Well (Q3/Q4 2013)

Foum Draa Acreage Rak-1 Seismic Amplitude at Reservoir Level 2 Spain ~3,337 km (2004, Shell) Planned Foum Draa N ‘A’ Prospect Exploration Well Foum Draa Offshore 1, 2 &3 Primary target: Morocco  Early Cretaceous/ Late Juby Jurassic apron fan Mauritania Maritime I sandstones in a stratigraphic Senegal

trap – well will be oldest Juby W Maritime II Tan Tan-1 stratigraphic penetration (1984, Amoco) along this deepwater margin

Cairn Initial Volumetric Estimates E Gross Mean Unrisked Prospective Resource Juby Maritime III 142 mmbbls Morocco

N Proposed Well Location SE SE

W Proposed Well Location E

Top Reservoir

0 0.5 1 2 Base Reservoir 0 0.5 1 2 Kilometers Kilometers Discovering Hidden Value Investor Presentation, November 2013 13 Morocco Cap Juby Prospect and Planned Exploration Well (H2 2013)

Middle Jurassic Carbonate Depth Map N Juby Maritime Acreage 2 km Spain ~5,600 km2

Morocco Foum Draa Offshore 1, 2 & 3

Juby Maritime I Mauritania

Senegal Juby NW Maritime II

Processed results of 2012 3D Survey (680 km2) expected H2 2013 Preliminary results highlight significant potential CJ-1 Planned Cap Juby Prospect Juby Maritime III Oil shows Exploration Well (~100m Water Depth) Morocco (1984, Mobil) Primary objective: NW Proposed Well Location SE MO-8  Middle Jurassic (recorded 38° API oil show from Mid-Jurassic) (oolitic grainstones, shoal (1972, Esso) deposits) SE  Well location 3.5km north east of CJ-1 Secondary objectives:  Upper Jurassic carbonates  Lower Jurassic carbonates

Minor objective Upper Jurassic  Lower Cretaceous

(deltaic sands) Middle Jurassic Middle Jurassic prospect (37.5% WI) Pre-drill Gross Mean Unrisked

MO-2 (1969) tested oil (2,377 bopd 12° API) Prospective Resource from Upper Jurassic and is shown on this map but 73 mmbbls does not intercept this horizon Discovering Hidden Value Investor Presentation, November 2013 14 Morocco Cap Boujdour Contract Area and Planned Exploration Well (Q4 2014)

 Cairn to acquire a 20% non-operated interest

through farm-in agreement with Kosmos Energy Juby (55% Op) and ONHYM (25%) Planned Gargaa Water Depths Maritime Prospect 1,000-2,000m  Multi-billion bbl block potential along trend Exploration Well

Primary objective: Cap Boujdour  Prospect ranges 500 mmboe to >1 billion boe Acreage  Lower cretaceous >29,500 km2 turbidite reservoir Prospect Pmean »500mmboe Morocco

3D Seismic planned early

2014

2010

Gargaa Dailly NW

Gargaa

SE Source: Marineand Source: Petroleum DavidsonGeology, &

Basement

Discovering Hidden Value Investor Presentation, November 2013 15 Cairn in Senegal

 Proven hydrocarbon system

 Substantial acreage position Tiof Banda Chinguetti  > 7,490 km² Tevet (equivalent to ~33 UK North Sea blocks) Mauritania Mauritania  2,050 km² 3D seismic survey Faucon Shell Conjugate Margin Plate 1977  Water depths >1,000m Reconstruction Esso  Cairn will be the operator of these blocks with an interest 1969 of 40% Esso  Petrosen - 10% interest 4 Rufisque wells Senegal 1968-1972  FAR - 15% interest Gambia  ConocoPhillips - 35% interest

 The blocks (Rufisque, Sangomar, Sangomar Deep) are Dome Flores located in the Senegalese portion of the productive Oil and Gea Guinea Mauritania-Senegal-Guinea-Bissau Basin Bissau

Sinapa  Exploration drilling targeted for 2014 Guinea

 Cairn has secured a contract with Transocean for the Gas

Oil “Cajun Express” drilling rig Senegal Basin

Discovering Hidden Value Investor Presentation, November 2013 16 Senegal Shelf Prospect and Planned Exploration Well (H1 2014) Atlantic Margin Planned Sangomar Deep Shelf Prospect Exploration Well Total Acreage 2 ~7,490km Senegal Cairn Volumetric Estimates Gross Mean Unrisked Prospective Resource

Shelf Edge (Albian Clastics) 182 mmbbls Spain Rufisque Wells Shelf Edge (Aptian Carbonate) 256 mmbbls (1968-72, Esso) Rufisque Pock North Fan mark? Morocco Prospect

Petroleum Sangomar system Deep Mauritania confirmed by Sangomar association of Faults Gambia W E DHIs, Faults, Seabed pock DHI marks and surface seeps

Guinea-Bisau

Albian Clastics (Primary Objective) W Proposed Well Location E Aptian Carbonate (Secondary Objective) W Proposed Well Location E

Planned Exploration Well

Amplitude anomaly Planned conformable with structure Exploration Well

Discovering Hidden Value Investor Presentation, November 2013 17 Senegal Deepwater Fan Prospect and Planned Exploration Well (H1 2014)

Atlantic Margin Total Acreage Spain 2 W Proposed Well Location E ~7,490km Rufisque Wells (1968-72, Esso)

Rufisque Planned Sangomar Deep Senegal North Fan Prospect Exploration Well Morocco

Sangomar Cairn Volumetric Estimates Deep Mauritania Gross Mean Unrisked Prospective Resource Sangomar

North Fan (H150) 282 mmbbls Gambia

North Fan (H300) 535 mmbbls

Guinea Planned Guinea-Bisau Exploration Well North Fan Prospect W Proposed Well Location E

W E Sangomar Deep W E

Shelf Edge Prospect

Discovering Hidden Value Investor Presentation, November 2013 18 Ireland Spanish Point Discovery and Planned Exploration Well (H1 2014)

 Spanish Point discovery Spanish Point Total Acreage ~2,753km2 Upper Jurassic Spanish Point and located in the Porcupine Burren Discoveries Trough, first appraisal well Depth Map

targeted Q2 2014 UK FEL 4/08 FEL 2/04  Frontier Exploration Licence (FEL) 2/04 covered 2 by ~300km 3D seismic Licensing Ireland Option 11/02  Burren cretaceous oil discovery to be evaluated First Potential follow-on Porcupine  FEL 4/08 covered by Trough ~220km2 3D seismic appraisal well Appraisal location Well  Increased industry Location WNW Proposed Well Location ESE exploration activity in the Porcupine Trough

Independent CPR* WNW (Competent Persons Report) Primary Objective 1C 2C 3C Upper Jurassic Gas 210 415 862 A-Sand Reserves Bcf Bcf Bcf ESE Condensate 15.4 35.6 53.7 Reserves mmbbls mmbbls mmbbls Secondary Objectives * Numbers confirmed by Chevron & Statoil Regional Report 1997 Maximum structural Cairn Spanish Point Volumetric Estimates closure 1C 2C 3C independent of fault seal GIIP 270 Bcf 620 Bcf 1.1 Tcf

Reserves 172 Bcf 410 Bcf 690 Bcf 35/8-2 Discovery Well Condensate 0 0.5 1 2 14 32 59 GDT Reserves (1981, Phillips ) mmbbls mmbbls mmbbls (Gas down to) Kilometers Discovering Hidden Value Investor Presentation, November 2013 19 Greenland – Frontier Exploration Atlantic Margin First phase exploration completed:

 Extensive knowledge, database and operating capability Primary area North East Bid Rounds – 2D seismic ~85,000 km of focus Pitu 3 and 4 – 2 x 3D seismic surveys Greenland – 8 exploration wells THULE Round 2 Licence Holders – geochemical, gravity and magnetic data Melville Basin

Forward Work Programme Baffin Bay Selective and focused investment phase: UPERNAVIK Round 1 Licence Holders  Focused on Pitu block in Melville sub-basin of Baffin Bay  Farm out of 30.625% interest in Pitu block to Statoil ASA West Disko  3D seismic evaluation confirms 5 prospects Blocks ILULISSAT AASIAAT  Exploration drilling targeted 2014

5 wells in Kangerlussuaq  Regional industry interest with extensive data gathered 2011/12 West  Southern Greenland 3 wells in Greenland Open 2011 Round  Industry partner(s) required for further investment NUUK  Continued evaluation of exploration potential Secondary area of focus South and rationalisation Greenland  Estimated gross mean YTF unrisked prospective resource Southern >6 billion boe Greenland

Discovering Hidden Value Investor Presentation, November 2013 20 Greenland Pitu Prospects and Planned Exploration Well (H2 2014)

Amplitudes confirm Direct Cairn Volumetric Estimates for A Hydrocarbon Indicators and A´ positive AVO responses Pitu Composite Prospect WSW ENE Potential Well Location Canada Pitu Combined Gross Mean Unrisked Prospective Resource Pitu 3.15 billion boe

Migration and Charge model Greenland NW Kivioq Basin Melville Bay Basin SE

Pitu Acreage ~8,170km2

Oil migration pathways

50 km

B B´ 3D

NNW Potential Well Locations SSE Mean Closure 613 km2 B B

A A´ Maximum closure A´ Benthic 2 1,408 km B´ A Survey

B’ Existing Benthic UK Survey

Potential geochemical seabed coring programme

Benthic surveys

Well location options

Discovering Hidden Value Investor Presentation, November 2013 21 Mauritania Early Entry to a Proven Fairway

Slope Channel Complexes Spain Morocco  Block C19 (35%) Paleocene Depth Surface

Morocco  3,500 km2 3D seismic C-19

(PSDM processing Mauritania

ongoing) Senegal

 2 shelf wells on the block had good oil shows NW Aigrette-1 Mauritania  Proven regional Turonian oil source with oil discoveries to the south ‘A’ Lead SE Total Acreage Senegal  Cretaceous sediment input ~12,175km2 points

 Large basin floor fan Bathymetry closures NW SE Shelf Wells Good

 Industry exploration drilling Oil Shows activity ongoing to the south Slope Channels

Initial Scoping Unrisked Volumetric Estimates (Chariot) 3D Seismic

Low Mean High

175 273 415 A1 Structural mmbbls mmbbls mmbbls

646 981 1,288 A1 Stratigraphic mmbbls mmbbls mmbbls Aigrette-1 Basin Floor Fans 8m Net Oil Discovery B Channel 681 933 3,374 (2006, Dana) Complex mmbbls mmbbls mmbbls

Discovering Hidden Value Investor Presentation, November 2013 22 Mature Basin UK North Sea and Norwegian Continental Shelf

Asset Exchange & Portfolio Rationalisation Klara 6507/3a  Mariner divestment  Acreage swap with Statoil includes Klara exploration well  TAQA and Premier transaction

Future Exploration and Appraisal Kakelborg Tybalt 33/5 & 33/6b 211/8c &  Continued prospect generation 211/13c Huggorm Timon 33/9 211/11b & 35/9b  Farm-ins, bid rounds and new opportunities 21/16b Skarfjell 210/25b & 35/8f & 35/9b 211/21b & 211/26b 211/19b & Grosbeak Skarfjell (Cairn 20% non-operator) K Prospect 211/24c Harden 35/12 Complex 35/10b & 31/1b 9/1a  Second appraisal well Q3 2013 Hydra 3/27a Kraken 8/5 & 9/1b 9/2b & 9/2c  Current volumes 98 - 192 mmboe Aragon Mariner 9/15d, 9/14a & 9/9d Stavanger Norfolk  Stand-alone development with access to other nearby discoveries 12/16b & 12/17b Spaniards 15/21g 14/30c Bardolph Buffalo Geite 20/7 14/30a 7/7, 7/8 & ‘K’ Prospect Complex (Cairn 100% Operator) 7/112/1 Laverda Aberdeen 28/4  K gross unrisked prospective resource range estimate 50-250 mmbbls Frode Sunbeam Catcher 2/1 28/8 28/9 & 28/10c Vulcan  Appraisal of Kraken may impact the evaluation of the K prospect Norton 29/11 28-9b & 28/14  Potential exploration well on K prospect 2014 Edinburgh Greater Catcher Area Greater Catcher Area (Cairn 30%, Operator; Premier)  Further exploration success  Added opportunities in surrounding acreage

Discovering Hidden Value Investor Presentation, November 2013 23 Cairn India

 CIL, with strategic focus on value growth in India, listed on the Bombay Stock exchange in 2007: Rajasthan  Current market cap ~$10 billion INDIA  Cairn Energy PLC holds ~10% interest CB/OS-2

Ravva  Current operated gross production across India ~200,000 boepd

Production / Revenue  Three year exploration and appraisal drilling Centres programme in Rajasthan commenced 2013:

 Targeting >90 wells and > 530 mmboe gross recoverable risked prospective resource

 Strong balance sheet

Discovering Hidden Value Investor Presentation, November 2013 24 Delivery of Strategy

 Balanced portfolio delivered Cairn Business Today

 Re-geared to drill bit – frontier well programme commences 2013

Exploration  Value add partnerships; ConocoPhillips, Statoil

Cairn India  Key field development projects Kraken and (Residual Shareholding) Catcher on-track

Cash  North Sea business reshaped to sustain forward exploration programme Catcher and  Funded to deliver Kraken

Discovering Hidden Value Investor Presentation, November 2013 25 Appendix

Discovering Hidden Value Investor Presentation, November 2013 26

Business Model for Growth and Re-gearing

Realise Value Realise

$ Value Realise

Return Value Shareholders to Value Return

Create Value Create Create Value Create Create Value Create

Discovering Hidden Value Investor Presentation, November 2013 27 Current Assets and Investments

Ireland . Spanish Point and Burren FEL 2/04 38 licences held in the UK and . FEL 4/08 and LO 11/2 Norwegian sectors of the North Sea including: Norway UK . Skarfjell . Kraken 9/2b 35/8 & 35/9 . Catcher 28/9 . Frode 2/1 & 28/10c . Mariner 9/11a

Nepal . Blocks 1,2,4,6 and 7 Greenland . Pitu (2011/13) . Napariaq(2011/16) Albania . Sigguk (2008/10) . Block Joni-5 . Eqqua (2008/11) . Ingoraq (2011/17) Investments . Atammik (2002/15) (~10% shareholding in Cairn India Limited) . Lady Franklin (2005/06) . PKGM-1 (Ravva) . RJ-ON-90/1 . Kingittoq (2008/14) . KG-DWN-98/2 development . Saqqamiut (2008/13) . KG-ONN-2003/1 areas (Rajasthan) . Salliitt (2009/11) * Senegal Mauritania Morocco Spain . KG-OSN-2009/3 . KK-DWN-2004/1 . Uummannarsuaq (2009/10) . Rufisque . C-19 . Foum Draa . AM1 . CB/OS-2 . PR-OSN-2004/1 . Sangomar Offshore 1-3 . AM2 development . MB-DWN-2009/1 . Sangomar Deep . Juby Maritime I-III . B areas(Cambay) . SL 2007-01-001 (Sri Lanka) * Subject to necessary approvals . Cap Boujdour* . G

Discovering Hidden Value Investor Presentation, November 2013 28 Partnerships Past and Present

India  ONGC Morocco  Petrocon  ONHYM  Ravva Oil (Marubeni)  Genel  TATA  San Leon Energy  ENI  Shell  Serica Energy  Longreach Oil Bangladesh and Gas  Santos International  Kosmos Energy Holdings Pty Ltd  HBR Energy Senegal  Bangladesh Petroleum  FAR Exploration Co Ltd (BAPEX)  Petrosen  PetroBangla  Shell Ireland

 Chrysaor Greenland  Providence  Nunaoil Resources  Petronas  SOSINA  EnCana Exploration Ltd  Dyas

 Statoil Mauritania

North Sea  Chariot

 Premier  Wintershall  EnQuest  Talisman  TAQA

Discovering Hidden Value Investor Presentation, November 2013 29 Management

Simon Thomson Mike Watts Chief Executive Deputy Chief Executive

Dr Mike Watts is Deputy Chief Executive and has more than 33 Simon Thomson joined Cairn in 1995 as a lawyer. He was appointed years’ experience in the oil industry. as Chief Executive in July 2011 having been Legal and Commercial Director since 2006. He was formerly CEO and Managing Director of the Amsterdam listed Holland Sea Search, which was acquired by Cairn in 1995,and He holds a LLB Honours from Aberdeen University and a Diploma in where he was the architect of the South Asia strategy. Mike has Legal Practice from Glasgow University. Simon is also a Non- held senior technical and management roles with Premier, Burmah Executive Director of Graham’s The Family Dairy Limited and is a and Shell. Director of the Winning Scotland Foundation. Simon was originally appointed to the Board in November 2006 as Legal and Commercial Mike is also a Non-Executive Director of SOCO International PLC. Director before becoming Chief Executive in July 2011. Simon chairs the Group Risk Management Committee and he attends the Remuneration Committee and Corporate Mike was appointed to the Board in 1997 and became Deputy Chief Executive in March 2009. Governance and Nomination Committee by invitation. He is a member of the Group Risk Management Committee.

Jann Brown Managing Director and Chief Financial Officer

Jann joined Cairn in 1998 after a career in the accountancy profession, mainly with KPMG. She was appointed to the Board in November 2006 as Finance Director and became Managing Director and Chief Financial Officer in July 2011.

Jann holds an MA from Edinburgh University and a diploma in accounting from Heriot-Watt University. She is Vice President Elect of the Institute of Chartered Accountants of Scotland (ICAS) until mid-April 2013. She is also a member of the Chartered Institute of Taxation. Jann is also non-executive Director and Chair of the Audit Committee of Troy Income & Growth Trust plc.

Jann was the Senior Independent Director of Hansen Transmissions International NV until the company was taken over in December 2011.

Jann is a member of the Group Risk Management Committee and of the Corporate Governance and Nomination Committee.

Discovering Hidden Value Investor Presentation, November 2013 30 Management

Richard Heaton Paul Mayland Director of Exploration Chief Operating Officer

After graduating from Leeds and Durham universities in the UK, Paul holds a B.Eng (1st Class) Engineering and M.Eng in Petroleum Richard began his career as a geologist in 1981 with the British Engineering and is a Member of the Energy Institute and Society of National Oil Corporation (BNOC), then Britoil and BP, working in Petroleum Engineers. He spent six years with British Gas as a various international and domestic exploration roles before joining petroleum engineer working in the North Sea and North Africa. He Cairn Energy in 1994. joined Cairn in 1996 working initially on the acquisition of Command Petroleum, which positioned Cairn in India.

Following Cairn’s Sangu discovery in Bangladesh, he became General Manager in Paul remained with Cairn until mid 2006 in a number of roles, latterly as Group Subsurface Bangladesh in 1996, overseeing the Sangu field development before handing over Manager and earlier as a Senior Petroleum Engineer. It was during this period that Cairn’s Operatorship to Shell in 1999. focus was largely in India and Bangladesh and Paul was involved in the drilling, testing and commerciality of several fields in Rajasthan India as well as the development of the Sangu He was Deputy General Manager in India from 2000-2002 during which time Cairn made the gas field in Bangladesh and the Lakshmi and Gauri oil and gas fields in India. He has co- Lakshmi and Gauri discoveries in Gujarat, the Saraswati discovery in Rajasthan and Cairn authored two SPE papers on hydraulic fracturing techniques in Rajasthan. opened up the deepwater Krishna-Godavari Basin with a number of oil and gas discoveries. From September 2006 Paul worked in Calgary, Canada as Petroleum Engineering Manager From 2002 - 2006 as Head of Exploration, he was involved in the Mangala, Bhagyam, for BG Canada before joining Vermillion Energy Trust as a Senior Advisor in Corporate Aishwariya and other discoveries in Rajasthan. In 2006 he became Director Exploration for Business Development from 2008 – 2010 where he was involved in a number of asset and Cairn India and following the IPO of the Cairn India business returned to the UK in 2007 as corporate transactions. Technical Director for Capricorn. Most recently as Exploration Director he has been involved in building an acreage portfolio in the North Atlantic, North Sea and the Mediterranean. Paul rejoined Cairn Energy PLC in August 2010 as Director of Business Development and Planning and played a key part in re-shaping Cairn’s portfolio during 2011/2012. Paul was appointed COO effective 1st January 2013.

Discovering Hidden Value Investor Presentation, November 2013 31 Contacts

David Nisbet Carly Blackbourn

 Group Corporate Affairs  Investor Relations Co-ordinator

 E-mail:  E-mail: [email protected] [email protected] Tel: +44 (0)7711 146 068 Tel: +44 (0)131 475 3094

www.cairnenergy.com

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Discovering Hidden Value Investor Presentation, November 2013 32