Corporate presentationFebruary 2018

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) As per www.bollywoodhungama.com

(2) 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 2011-20162

Blockbuster film slate – two, seven and four of the top fifteen grossing films

in India, in CY2016, 2015 and 2014 respectively1

• 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 Production

Film 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) LanguageTentative

Release

Bhavesh Joshi Harshvardhan Kapoor (Vikram Motwane / Phantom Films) Hindi FY2019

Nervazhi Nayanthara (Bharath Krishna) Tamil FY2019

Happy Bhaag Jayegi ReturnsSonakshi Sinha, Abhay Deol, Jimmy Shergill (Mudassar Aziz / Colour Yellow

Productions)Hindi FY2019

Mumbai Pune Mumbai 3 Swapnil Joshi, Mukta Barve Marathi FY2019

7 Kadam Amit Sadh, Diksha Seth, Ronit Roy & Others / (Mohit Kumar Jha) Hindi FY2019

Tannu Weds Manu 3 Anand L Rai Hindi FY2019

Heer Colour Yellow Productions Hindi FY2019

Ticket to Bollywood Amyra Dastoor, Diganth Manchale / (Eros) Hindi FY2019

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

Kaptan Saif Ali Khan, Madhavan & Zoya (Navdeep Singh / Colour Yellow Productions) Hindi FY2019

Manmarziyaan (Anurag Kashyap / Colour Yellow Productions) Hindi FY2019

Fake (Raj & DK) Hindi FY2019

Untitled (Homi Adajania / Maddock Films) 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

- Additional Trinity films are listed on Slide 9

- The above list is subject to change

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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) LanguageTentative

Release

Kaamiyab Drishyam Films Hindi FY2019

Ankhen 2 Amitabh Bachchan & Others Hindi FY2019

Cobra Gautam Ghulati, Tarun Khanna, Nyra Banerjee, Ruhi Singh, Director - Munesh Rawal Hindi FY2019

Untitled Ravi Vasudevan Malayalam FY2019

Annum Pennum Rajish Parameshwaran Malayalam FY2019

Untitled Arun Malayalam FY2019

Parashuramam Vijith Nambiar Malayalam FY2019

Untitled Noushu Shameer Malayalam FY2019

Badlapur 2 (Sriram Raghavan / Maddock Films) Hindi FY2020

Re-Union Sujoy Ghosh Hindi FY2020

Hera Pheri -3 Firoz Nadiadwala - Base Industries Group Hindi FY2020

Table No 21 - Part 2 Next Gen Films - Aditya Datt Hindi FY2020

Untitled Vipul Shah Hindi FY2020

Hit Next Gen Films - Aditya Datt Hindi FY2020

Phobia 2 Next Gen Films - Pawan Kriplani Hindi FY2020

Shubh Mangal Savdhan - 2 Colour Yellow Productions Hindi FY2020

Forthcoming Releases

- Additional Trinity films are listed on Slide 9

- The above list is subject to change

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Trinity Pictures – Strong pipeline of releases

Trinity set to release five films in FY2019, including one Indo-China production

o Haathi Mere Saathi, a big scale action franchise to be shot simultaneously in Hindi, Telugu

and Tamil

o Film directed by national award winner Prabhu Solomon, begins shoot in February

2018. Rana Daggubati will play the lead in the film along with top actors from Hindi and

South industry

o Other films in pre-production include the action thriller, Pitch

White, to be directed by Vipul Shah and a young comedy

franchise, Amsterdamn

o Scripting is completed for Trinity’s first Indo China co-production,

Panda, to be directed by Kabir Khan and casting will now begin

for the film

o Trinity will be producing a two part film series Krishna Key, an

adaptation of Ashwin Sanghi’s best selling novel of the same

name for which Trinity has acquired rights

In addition, Trinity is producing six originals for ErosNow – Flesh with

Siddharth Anand, Flip with Bejoy Nambiar, Kurukshetra with Prakash

Kovalamadhi and Hacked with Abbas Tyrewala, mythological series

Dashavatar with Nikhil Sinha and Ponniyin Selvan, an adaptation of a

historical novel written by Kalki Krishnamurthy with Krish Jagarmalmudi to

be released in FY2019

Our markets

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(1) Source: FICCI-KPMG Report 2017.

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

Indian Media & Entertainment Market

’15 – ’20 CAGR

22.0%

7.7%

7.3%

14.7%

588.3 651.0750.9

876.81,014.5

1,165.6

303.3325.0

350.4

378.5

405.6

431.1

142.3155.0

166.0

178.2

191.6

206.6

228.2

277.7

338.9

413.2

503.5

616.1

2016 2017P 2018P 2019P 2020P 2021P

TV Print Film Other

1,262

1,409

1,606

1,847

2,115

2,419

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

(2)

Rs. billion

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A rapidly growing economy(1)

39.3 37.1

31.6 27.6

Russia China Brazil India

Median age

India: High Growth and Attractive Fundamentals

(1) IMF World Economic Outlook as of April 2017

(2) CIA World Factbook (8/2/2017)

(3) Euromonitor International – 1 USD – Rs. 65.48 (as on Nov 14, 2017)

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)

7.2%6.6%

2.3%2.0%

0.2%

India China US UK Brazil

102,083 106,078114,786

123,561132,728

2012 2013 2014 2015 2016

(Rs.)

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

142155 166

178192

207

2016 2017P 2018P 2019P 2020P 2021P

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 Reports

(2) CRISIL Research

(3) Magna Global, June 2014, India ticket price represents average ticket price at two leading multiplex chains as on March 2017.

Indian Film Revenue

190308

393458

517635

1,028

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 Reports

...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+%

147

164

2016A 2021P

Total # of

TV

Households:200m175m

Increasing television household penetration…(1)

Willingness to pay for content…(1)

81%84%

2016A 2021P

Paid C&S TV Household Penetration (%)

201394

387

771

2016A 2021P

Advertising Revenue Subscription Revenue

588

1,166

(Rs in billion)

Paid C&S TV Household(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. 294.5 billion in 2021(1)

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

76.9

294.5

2016A 2021P

Digital advertising spend(Rs in billion)

Affordable smartphones driving internet growth(1)

In December 2016 India reached 1.2 BILLION mobile phone connections

389.0

969.0

2016A 2021P

(in millions)

300

700

2016A 2021P

Internet-enabled mobile phones in India(in millions)

90% 87%

53%46%

27%

UK USA Brazil China India

1) Source: FICCI-KPMG Reports

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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)

Baahubali 2 1,560 cr ($238m)

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): 80 mn registered users and 5 mn paying subscribers worldwide(2)

55 58 60 68 75 80

Q2 FY'17 Q3 FY'17 Q4 FY'17 Q1 FY'18 Q2 FY'18 Q3 FY'18

Rapid growth in registered users (m)

5.02.91.3 2.12.0

10,000+Film Rights

Paying

users(2) (m) 3.7

B2B2C B2C B2B

OEM WALLETSTELCO

(Partner Channel)

International

Financial Overview

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Strong Revenue Growth & Diversified Revenue Streams

7,159

9,632

10,74411,396

14,410

16,036

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%

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Solid Track Record of Profitability

.

EBIT PAT

1,613

2,257 2,262

2,997

3,615

3,375

3,768

FY11 FY12 FY13 FY14 FY15 FY16 FY17

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

1,172

1,4781,545

1,997

2,471

2,141

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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Figures in INR million 9M FY 2018 9M FY 2017

Revenue 7,523 12,349

EBIT 2,614 3,108

PAT (after minority) 1,686 2,237

PAT Margin (%) 22.4% 18.1%

Diluted EPS (Rs.) 17.62 23.47

Nine-monthly Performance FY2018

• Releases during the period included Ribbon, Rukh, Kadvi Hawa, Shubh Mangal Savdhan, Newton, Munna Michael, Sniff,

Sarkar 3, Oru Kidayin Karunai Manu (Tamil), Tujha Tu Majha Mi (Marathi), Aake (Kannada), Posto (Bengali), Projapati

Biskut (Bengali), Baap Janma (Marathi), Boss 2 (Bengali) amongst others

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Balance sheet remains conservative

Figures in Rs. million Sept 30, 2017

Gross Debt 7,741

Cash 1,887

Net Debt 5,885

Net Worth (Equity) 21,188

Net Debt / Equity Ratio 0.28

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