Corporate presentationJune 2017

Eros the leading Indian film studio

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Executive Summary

170+ new releases in the last 3 fiscal years

Owns a large content library of Indian language films, 2,000+, and music

A multi platform model for content monetization

Robust India macro landscape with highly attractive fundamentals

Strong revenue growth and solid track of profitability

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Eros: A global leader in Indian film entertainment with strong box-office market share

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Content is King

New film mixOver 40 films

each year

•Hindi

•Regional languageCo-production

2,000+ film library (1 year after Theatrical Release)

Acquisition Trinity

Pictures

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Eros: A Multi-Platform Model

• Leading player in a growing and underpenetrated cinema market

Eros had 3 out of top 4 and 7 out of the top 15 India Box Office hits in CY 2015

Film pre-sales facilitated by long-standing Eros brand, reputation and industry relationships

Theatrical

• Cable digitisation and rising Pay TV penetration drive market growth and demand for premium content

Eros’ film library of over 2,000+ films is a stable source of revenue growth with high margins

Television rights are often sold before box-office releases

Other streams include Music, Cable and broadband syndication, in-flight sales, DVD sales, etc.

Television & Others

• Sale of international distribution rights to the parent company benefits de-risking and cash flows

Pre-determined recovery of significant film production cost through Eros International Plc

Parent Company enjoys wide international distribution network across 50 countries

Overseas

TV Syndication Freemium

$

Pay Per View Subscription Advertising Bundled ServicesTheatrical

Eros International is strategically positioned to monetise film content through

multiple channels globally

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(1) Represents average market share of all theatrically released Indian language films from 2011 - 2016. Source: comScore.

Leading Box Office Market Share

US & UK Market Share CY 2011-20161

Blockbuster film slate – Eros films accounted for 7 out of top 15 films in 2015

No.1 No.15No.12No.11No.9No.4No.3

• Last 6 years average market share of

31% in UK and US, of all theatrically

released Indian language films

• Note Eros’ leading position but also

fragmentation of rest of the market

USA & UK

Eros, 31%

UTV, 20%YRF, 11%

Reliance, 8%

Fox, 7%

Others, 23%

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Eros Theatrical ProductionFilm by budget

type(1) FY ‘11 FY ‘12 FY ‘13 FY ‘14 FY ‘15 FY ‘16 FY ‘17

High 3 5 6 4 6 6 5

Medium 10 5 13 21 11 16 10

Low 64 67 58 44 47 41 29

Total films(2)

77 77 77 69 64 63 44

1) “High budget” films refer to Hindi films with direct production costs in excess of $8.5 million and Tamil as well as Telugu films with direct production costs in excess of $7.0 million; “Low budget” films refer

to both Hindi, Tamil, and Telugu films with less than $1.0 million in direct production costs; “Medium budget” films refer to Hindi, Tamil, and Telugu films within the remaining range of direct production

costs

2) Total films includes regional films and films with overseas rights

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Strong releases YTD set to be bolstered by additional highly anticipated titles in the coming years

Film Name Star Cast/(Director/Producer) Language Tentative Release

Sarkar 3 Amitabh Bachchan, Amit Sadh, Ronit Roy, Yami, Jackie Shroff (Ram Gopal Verma) Hindi Released in Q1 FY18

Posto Soumitra Chatterjee, Lily Chakraborty (Shibhoprasad Mukherjee & Nandita Roy) Bengali Released in Q1 FY18

Oru Kidayin Karunai Manu Vidharth, Raveena Ravi (Suresh Sangiah) Tamil Released in Q1 FY18

Tujha Tu Majha Mi Lalit Prabhakar, Neha Mahajan (Kuldeep Jadhav) Marathi Released in Q1 FY18

Munna Michael Tiger Shroff, Nidhhi Agerwal, Nawazuddin Siddiqui (Sabbir Khan) Hindi Q2 FY2018

Sniff (Trinity)* Khushmeet Gill, Surekha Sikri, Manmeet Singh among others (Amole Gupte) Hindi Q2 FY2018

Shubh Mangal Savdhaan Ayushman Khurana, Bhumi Pednekar (Prasanna / Colour Yellow Productions) Hindi Q2 FY2018

Aake Chiranjeevi (K M Chaitanya) Kannada Q2 FY2018

Rang Be Rang Er Kori Rituparna Sengupta, Arunima Ghosh (Ranjan Ghosh) Bengali Q2 FY2018

Nila Choley Kiriti Indrani Sengupta, Rituparna Sengupta (Anindya Bakash Dutta) Bengali Q2 FY2018

Bhavesh Joshi Harshvardhan Kapoor (Vikram Motwane / Phantom Films) Hindi Q3 FY2018

Mukkebaz Vineeth Kumar & Zoya (Anurag Kashyap / Colour Yellow Productions) Hindi Q3 FY2018

Nimmo Anjali Patil, Karan Dave (Rahul Sanklya / Colour Yellow Productions) Hindi Q3 FY2018

Happy Pill Ritwick Chakraborty, Sohini Sarkar (Moinak Bhowmik) Bengali Q3 FY2018

Forthcoming Releases

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Strong releases YTD set to be bolstered by additional highly anticipated titles in the coming years

Film Name Star Cast/(Director/Producer) Language Tentative Release

Nervazhi Nayanthara (Bharath Krishna) Tamil Q4 FY2018

Happy Bhag Jayegi 2 Diana Penty, Abhay Deol, Jimmy (Mudassar Aziz / Colour Yellow Productions) Hindi Q4 FY2018

Untitled (Raja Chandra) Bengali Q4 FY2018

Untitled (Sandip Ray) Bengali Q4 FY2018

Chandamama Door Ke Sushant Singh Rajput, Nawazuddin Siddiqui (Sanjay Puran Singh) Hindi FY2019

Manmarziyaan (Anurag Kashyap / Colour Yellow Productions) Hindi FY2019

Fake (Raj & DK) Hindi FY2019

Untitled (Homi Adajania / Maddock Films) Hindi FY 2019

Badlapur 2 (Sriram Raghavan / Maddock Films) Hindi FY 2019

Soorma Saif Ali Khan & Others (Navdeep Singh / Colour Yellow Productions) Hindi FY2019

Untitled Shah Rukh Khan (Anand L Rai / Colour Yellow Productions) Hindi FY2019

Untitled (Rahul Dholakia) Hindi FY2019

Jaita Harman Baweja (Harry Baweja) Hindi FY2019

Guru Tegh Bahadur (Harry Baweja) Punjabi FY2019

Forthcoming Releases

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Trinity Pictures – Building franchises and not just films

In pre-production and casting for 5 more franchises, 3 of which will enter

production in 2017. These include 2 Indo-China productions:

o Live action tri-lingual (Hindi, Telugu & Tamil) elephant film directed by Prabhu

Solomon, is in the casting and pre-production stage. Film to go on floor by

September end

o Ace director Krish’s buddy cop film, to be shot in Hindi and Tamil

simultaneously

o Two Indo-China co-productions; Kabir Khan’s travel drama, The

Zookeeper & Siddharth Anand’s cross-cultural romantic comedy, Love in

Beijing. Both Indo-China films are in scripting and pre-production stage.

o A tri-lingual action film – Pitch White (working title) locked with ace director

Vipul Amrutlal Shah

Trinity Writers Room has completed development on 15 other franchises and 80

film concepts and some of them are being actively pitched to Directors

Trinity’s first franchise film Sniff – Eye Spy, a superhero film directed by Amole

Gupte is slated for release on 25th August 2017

o Two of Sniff comics distributed by Diamond Comics already out in the market

o Sniff Arcade Game (in partnership with Viaan Studios) and merchandise

should be out in the market in June

o 3 brands already on board for in-film integration

Our markets

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(1) Source: FICCI-KPMG Report 2016.

(2) “Other” includes radio, music, out of home, animation & VFX, gaming and digital advertising segments

Indian Media & Entertainment Market

’15 – ’20 CAGR

22.0%

10.5%

7.8%

15.1%

542.2 617.0709.6

823.3956.8

1,097.6

283.4305.2

329.6

355.9

383.6

412.5

138.2

158.7

174.1

190.0

207.8

227.3

193.2

234.1

288.7

354.8

431.8

522.6

2015 2016P 2017P 2018P 2019P 2020P

TV Print Film Other

1,157

1,315

1,502

1,724

1,980

2,260

Media & Entertainment Market Projected to Grow at 14%(1)

(2)

Rs. billion

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A rapidly growing economy(1)

39.1 36.8

31.3 27.3

Russia China Brazil India

Median age

India: High Growth and Attractive Fundamentals

(1) IMF World Economic Outlook as of April 2016, Real GDP corresponding to fiscal year, constant price

(2) CIA World Factbook (5/16/2016)

(3) Euromonitor International – 1 USD – Rs. 66.05

1.0

1.2

1.6

2000 2011 2050

(in billions)

With significant population expansion (1)

Highly favorable demographics(2) Increasing annual disposable income(3)

7.6%

6.1%

2.2% 2.1%

0.5%

India China US UK Brazil

Projected GDP growth CAGR (2015 – 2021E)

102,972 107,001115,786

124,636133,883

2012 2013 2014 2015 2016

(Rs. in billions)

Over the next 15 years India is expected to be the largest contributor of global GDP growth

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Rapid Growth for India’s Film Industry

138159

174190

208227

2015 2016P 2017P 2018P 2019P 2020P

Indian Film Industry seeing consistent revenue growth…(1) …with multiplex rollout fueling growth (2)

…in a highly underpenetrated market…(1) …and substantial room to increase pricing(3)

(1) FICCI-KPMG Report 2016, UK, France and Germany data FICCI-KPMG Report 2015

(2) CRISIL Research

(3) Magna Global, June 2014

Indian Film Revenue

44

292373

435491

603

976

India China Brazil Russia US UK Japan

Average Admissions Price(Rs.)

(Rs. billion) Number of Multiplexes in India(in thousands)

1.21.4 1.5 1.6

1.8 1.92.1 2.2

2011 2012 2013 2014P 2015P 2016P 2017P 2018P

6

57 61

85

126

23

India Germany UK France US China

Theatre screens per million population

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Growing Indian Television Market

1) Source: FICCI-KPMG Report 2016

...is Supported by Favorable Viewing Preferences(1)

…is Expected to Fuel Growth in the Indian TV Industry (1)

45%

22%

12%7%

42%36%

11%7%

Hindi GEC +Movies

Regional GEC +Movies

Kids + Music News

2014 2015

Percentage of viewing time spent

70+%

145

174

2015A 2020P

Total # of

TV

Households:200m175m

Increasing television household penetration…(1)

Willingness to pay for content…(1)

83%87%

2015A 2020P

Paid C&S TV Household Penetration (%)

181365

361

733

2015A 2020P

Advertising Revenue Subscription Revenue

542

1,098

(Rs in billion)

Indian Pay-TV subscriber base(in millions)

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(1) FICCI KPMG Report 2015 & 2016, TRAI and broker research

Compelling Digital Opportunity

India’s digital ad market at Rs. 255 billion in 2020(1)

Strong internet user growth(1)Internet penetration is still in early stages(1)

60.1

255.2

2015A 2020P

Digital advertising spend(Rs in billion)

Affordable smartphones driving internet growth(1)

Online ad spend as

% of total ad spend 26%7%

In October 2015 India reached 1 BILLION mobile phone subscribers

310.7

791.820.8

33.4

2015A 2020P

Wireless Wireline

(in millions)

331.5

825.2

180

690

2015A 2020P

Smartphones in India(in millions)

90% 87%

53%46%

27%

UK USA Brazil China India

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Language No. of films

released in

2014

Hindi 141

Tamil 203

Telugu 113

Kannada 118

Malayalam 151

Marathi 56

Bengali 68

Punjabi 41

Others 101

The Big Regional Opportunity

Over 1,000 films are released in

India each year across languages

Top Grossing

Film

Worldwide Box

Office INR &

USD

Dangal 1,870 cr ($291m)

Enthiran 283 cr ($44.2m)

Bahubali 600 cr ($94m)

Aptharakshasa 55 cr ($8.6m)

Drishyam 75 cr ($11.7m)

Sairat 110 cr ($16.7m)

Chander Pahar 15 cr ($2.3m)

Chaar Sahebzaade 70 cr ($11m)

The box office numbers suggest these are

not niche films. Contributions are significant

Typical

Production

Budgets

Typical

Print &

Advertising

$ 12 -15m $3.0m

$ 10 -12m $0.7m

$ 8 – 10m $0.5m

$ 4 – 5m $0.2m

$ 1.5 – 2.5m $0.2m

$ 1 – 2m $0.2m

$ 0.5 – 1m $0.1m

$ 1.5 – 2.5m $0.2m

Varying Budgets. Low P&A. High

Margins and Presales

In the context of shortage of theatres, the Regional strategy adds scale, market share and margins without cannibalization

A digital opportunity

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Note: (1) ErosNow is Eros International Plc’s, OTT platform (2) Paying subscribers means any subscriber who has made a valid payment to subscribe to a service that includes the Eros Now service either as

part of a bundle or on a standalone basis, either directly or indirectly through a telecom operator or OEM in any given month be it through a daily, weekly or monthly billing pack, as long as the validity of the pack

is for at least one month.

ErosNow(1): over 2 million paid subscribers worldwide(2)

✓ Partnerships with leading telcos covering 70% of mobile user base

✓ Similar partnerships in Malaysia and the Middle East

✓ Strategic partnership with leading Indian electronic payment platforms

30.0

44.0 49.6

55.0 58.0

Q3 FY'16 Q4 FY'16 Q1 FY'17 Q2 FY'17 Q3 FY'17

Rapid growth in registered users (m)

2.01.3Paying users(2) (m)

5,000+films rights

Multi channel

customer acquisitionWAP APP Web

1.1

Boosting distribution through Telcos and e-wallets

Financial Overview

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Strong Revenue Growth & Diversified Revenue Streams

7,159

9,632

10,74411,396

14,410

16,257

14,453

FY11 FY12 FY13 FY14 FY15 FY16 FY17

Strong Historical Revenue Growth

(1) High Budget for Hindi films>USD8.5mn, Tamil/Telugu/Regional>USD7mn, Low Budget for all languages <USD1mn and Medium Budget is the intermediate range, 1USD=Rs.61

Film by Budget

Type(1)FY11 FY12 FY13 FY14 FY15 FY16 FY17

High 3 5 6 4 6 6 5

Medium 10 5 13 21 11 16 10

Low 64 67 58 44 47 41 29

Total Films(2) 77 77 77 69 64 63 44

(Rs. in million)

Theatrical42.5%

Overseas26.4%

Television & Others

31.1%

Diversified Revenue Streams – FY17

10% 12%15%

22%15%

34%

FY12 FY13 FY14 FY15 FY16 FY17

Diversified Revenue Streams

*Company held back catalogue sales for

a limited period in FY16 to enhance

balance sheet efficiencies

Catalogue Contribution

CAGR: 12.4%

PAGE 21

Solid Track Record of Profitability

.

EBIT PAT

1,613

2,257 2,262

2,997

3,615 3,5493,768

FY11 FY12 FY13 FY14 FY15 FY16 FY17

(Rs. in million) (Rs. in million)

1,172

1,4781,545

1,997

2,4712,387

2,575

FY11 FY12 FY13 FY14 FY15 FY16 FY17

16.4% 15.3% 14.4% 17.5% 17.1% 13.4% 17.8%% Margin 22.5% 23.4% 21.1% 26.3% 25.1% 21.0% 26.1%

CAGR: 15.2% CAGR: 14.0%

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Conservative Balance sheet

Figures in Rs. million FY 2017

Gross Debt 6,635

Cash 1,789

Net Debt 4,846

Net Worth (Equity) 20,044

Net Debt / Equity Ratio 0.24

Net Debt / EBIT Ratio 1.29

During FY2017, State Bank of India and IDBI Bank joined the lending consortium and State Bank of India became

the leader of the consortium

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Certain statements in this presentation concerning the future growth prospects are forward looking statements, which involve a number of risks and

uncertainties that could cause actual results to differ materially from those in such forward-looking statements. In some cases, these forward-

looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “forecasts”, “plans”,

“prepares”, “projects” “anticipates”, “expects”, “intends”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable

terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all

matters that are not historical facts. They appear in a number of places throughout this presentation and include, but are not limited to, statements

regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’s results of operations, financial

condition, liquidity, prospects, growth, strategies, business development, the markets in which the Company operates, expected changes in the

Company’s margins, certain cost or expense items as a percentage of the Company’s revenues, the Company’s relationships with theater

operators and industry participants, the Company’s ability to source film content, the completion or release of the Company’s films and the

popularity thereof, the Company’s ability to maintain and acquire rights to film content, the Company’s dependence on the Indian box office

success of its films, the Company’s ability to recoup box office revenues, the Company’s ability to compete in the Indian film industry, the

Company’s ability to protect its intellectual property rights and its ability to respond to technological changes, the Company’s contingent liabilities,

general economic and political conditions in India, including fiscal policy and regulatory changes in the Indian film industry. By their nature, forward-

looking statements involve known and unknown risk and uncertainty because they relate to future events and circumstances. Forward-looking

statements speak only as of the date they are made and are not guarantees of future performance and the actual results of the Company’s

operations, financial condition and liquidity, and the development of the markets and the industry in which the Company operates may differ

materially from those described in, or suggested by, the forward-looking statements contained in these materials. The forward-looking statements

in this presentation are made only as of the date hereof and the Company undertakes no obligation to update or revise any forward-looking

statement, whether as a result of current or future events or otherwise, except as required by law or applicable rules.

Important notice and disclaimer