Essar Ports Ltd.

Performance Update

Q2 FY2015

Salaya

Paradip I (Dry

Bulk)Hazira

INDIA

INDIAN

OCEAN

Paradip II

(Coal)

Vadinar

Hinterland for

Essar Ports

Under Development

20 MTPA Dry Bulk Terminal at Salaya

32 MTPA Iron Ore Berths at Vizag

20 MTPA General Cargo Terminal at Hazira

18 MTPA Coal Terminal at Paradip

Operational

Under Construction

58 MTPA Liquid Terminal at Vadinar

30 MTPA Dry Bulk / General Cargo Terminal at

Hazira

16 MTPA Dry Bulk Terminal at Paradip

Current capacity of 104 MMTPA to be scaled up to 194 MMTPA

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Essar Ports: Overview

Presence in high growth and strategic locations regions of India

Existing rail line

Existing roads

Cement plant

Chemical and oil & gas plant

Steel plant

Fertilizer plant

Power plant

Dedicated Freight Corridor

HaziraSalaya

Vadinar

Vizag (Iron Ore)

Paradip

Vishakhapatnam

3

Essar Ports is well placed to benefit from growth

Success Factor Essar Ports

Strategic

Locations

• Vadinar ports located in refinery hub which handles approx. 65% of India’s crude import

• Proximity to national grid of LPG and LNG pipelines

• Hazira, Salaya and Vadinar ports are located within Industrial belt of Gujarat and access to North India hinterland

• Paradip and Vizag ports are located in the Mineral rich and Industry belt

Deep Drafts Draft ranging from 14m to 32m at various terminals allowing the largest of bulk carriers to directly berth at jetties

High

Mechanization

Handling rates ranging from 2200 TPH to 8000 TPH for various types of cargoes

Connectivity Connected to National Highways by Road

Rail connectivity already in place/Under development for some terminals

Ability to Expand An additional SPM and 2 jetties can be developed at Vadinar

5 km long berth length can be developed at Hazira

2 km long berth length can be developed at Salaya

Potentially the terminals can be developed which can expand Essar ports capacity to 350 MMTPA+

Operating

Philosophy of

Essar Ports

• High Mechanization

• Standardized cargo handling leading

to lower intervention

• All weather deep draft port enables

high parcel sizes

• Economies of Scale

• Faster turnaround

times

• Quick evacuation

• High EBITDA

margins

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Key Highlights

(Figures in Rs Cr)

Note: Company has earned trade revenues and incurred expenses of Rs. 301.9 cr each (Profit neutral) during H1FY14/Q2 FY14 on account of

fulfilling export obligations under EPCG.

12.62 MMT of cargo handled during Q2 FY15 as against 13.1 MMT of

cargo handled during Q2 FY14

26.36 MMT of cargo handled during H1 FY15 as against 27.1 MMT

handled in H1 FY14.

Traffic set to increase over next few quarters backed by

Increase in anchor customer volumes

Addition of volume from Vizag iron ore terminal during Q3 FY15

Focus on third party cargo at Hazira and Paradip

10.5 9.8

2.22.6

0.3 0.2

Q2 FY14 Q2 FY15

Cargo Handled (in MMT)

Vadinar Hazira Paradip Dry Bulk

13.1 12.6

Particulars Q2FY15 Q2FY14 Growth % H1 FY15 H1FY14 Growth %

Revenue (Excluding trade revenues) 435.3 405.1 7% 866.9 815.5 6%

Trade revenues/expenses for fulfilling export obligations - 301.9 - 301.9

Total Revenues 435.3 707.0 866.9 1117.4

EBITDA 361.4 331.2 9% 708.2 665.8 6%

PAT 96.1 97.5 -1% 188.2 198.7 -5%

EPS (Rs. per Share) 2.25 2.28 -1% 4.40 4.64 -5%

Key Updates

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After receipt of final forest clearance for Salaya terminal during the previous quarter, construction has commenced. Expected COD:

October 2015

Vizag iron ore terminal project expected to be taken over as an operating berth during Q3 FY15. Project will significantly enhance third

party mix of the Company and gives strategic presence on the east coast after Paradip.

Letter received from Paradip Port Trust mentioning that Coal terminal land will be handed over soon. Work commenced on compliance on

CPs to the project

Paradip Dry Bulk Terminal awarded D&B Infra award 2014 under the Port Project Category for project execution and success

0.00

0.99

2.28 2.25

Q2FY10 Q2 FY12 Q2FY14 Q2FY15

EPS (INR/share)

-11.6

40.8

97.5 96.1

Q2FY10 Q2 FY12 Q2FY14 Q2FY15

PAT (INR crore)

88.8

230.7

331.1

361.4

Q2FY10 Q2 FY12 Q2FY14 Q2FY15

EBITDA (INR crore)

6

Year on year performance

115.0

279.1

405.1435.3

Q2FY10 Q2 FY12 Q2FY14 Q2FY15

Revenue (INR crore)

7

Particulars Q2 FY15 Q1 FY15 Q2 FY14 H1 FY15 H1 FY14 FY14

Total Income 435.3 431.6 405.1 866.9 815.5 1637.4

Trade revenues for fulfilling

export obligations- - 301.9 - 301.9 577.5

Total Expenses 73.9 84.8 74.0 158.7 149.7 310.3

Trade expenses for fulfilling

export obligations0 - 301.9 - 301.9 577.5

EBITDA 361.4 346.8 331.2 708.2 665.8 1327.1

EBITDA Margin 83% 80% 81% 82% 81% 81%

Interest and Finance

Expenses 168.8 161.4 148.6 330.1 295.4 599.1

Profit Before Depreciation

and Tax 192.6 185.4 182.5 378.1 370.4 728

Depreciation 75.6 74.8 69.4 150.4 137.9 277.2

Profit Before Tax 117.0 110.6 113.1 227.7 232.5 450.8

Tax 20.1 17.8 14.8 37.9 31.9 63.4

Adjustment for Share of

Minority Interest 0.8 0.7 0.9 1.5 1.9 3.7

Profit After Tax 96.1 92.2 97.5 188.3 198.7 383.7

Basic EPS (Rs) 2.25 2.15 2.28 4.40 4.65 8.97

Figures in Rs. Crore

Q-o-Q revenue increased 7% to Rs. 435.3

cr in the current quarter

Q-o-Q EBITDA saw a growth of 9% to Rs.

361.4 cr over Q2 FY14

Q-o-Q PAT recuded by 1% to Rs. 96.1 cr

over Q2 FY14

Net profit reduction is due to higher interest

and depreciation resulting from

capitalization of assets

EPS for Q2 FY15 is Rs. 2.25 per share as

against EPS of Rs. 2.28 for Q2 FY14

Highlights

Debt as on 30th Sep 2014 (Rs. Cr)

Operating 4,693

Project 1,160

TOTAL 5,853

Financial Performance

Note: Company has earned trade revenues and incurred expenses of Rs 577.5 cr each (Profit neutral)

during FY14 on account of fulfilling export obligations under EPCG.

Annexures: Terminal Photographs

8

Vadinar Photographs

Product Jetties – Draft 20m, 16m

Jetty Area

SBM – Draft 32 m

Jetty With Loading arms in operation

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Vadinar Photographs.. contd

Product and Intermediate Tankage Farm

Rail Gantry

Crude Oil Tankage farm

Road Gantry

10

Hazira Photographs

Finished Steel HandlingBulk cargo handling

11

Paradip Dry Bulk Photographs

ConveyorShip Loader, Reclaimers

12

Salaya Photographs

Unloaders

Loader

Jetty

Stockyard

13

Vizag Photographs

Receipt and Wagon Tippling Stockyard - Stacker

Conveyors Ship Loading

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Legal Disclaimer

“This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement withrespect to the purchase or sale of any security of Essar Ports Limited (the “Company” or “EPL” or “Essar Ports Limited”)and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

This presentation is not a complete description of the Company. Certain statements in this presentation contain words orphrases that are forward looking statements. All forward-looking statements are subject to risks, uncertainties andassumptions that could cause actual results to differ materially from those contemplated by the relevant forward lookingstatement. Any opinion, estimate or projection herein constitutes a judgment as of the date of this presentation, and therecan be no assurance that future results or events will be consistent with any such opinion, estimate or projection. Theinformation in this presentation is subject to change without notice, its accuracy is not guaranteed, it may be incomplete orcondensed and it may not contain all material information concerning the Company. We do not have any obligation to, anddo not intend to, update or otherwise revise any statements reflecting circumstances arising after the date of thispresentation or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition.

All information contained in this presentation has been prepared solely by the Company. No information contained hereinhas been independently verified by anyone else. No representation or warranty (express or implied) of any nature is madenor is any responsibility or liability of any kind accepted with respect to the truthfulness, completeness or accuracy of anyinformation, projection, representation or warranty (expressed or implied) or omissions in this presentation. Neither theCompany nor anyone else accepts any liability whatsoever for any loss, howsoever, arising from any use or reliance on thispresentation or its contents or otherwise arising in connection therewith. This presentation may not be used, reproduced,copied, distributed, shared or disseminated in any other manner.

The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession thispresentation comes should inform them about, and observe, any such restrictions.”

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