Strictly Private and Confidential

Amtek Group Investor Presentation13 October 2010

Table of Contents

Amtek Auto: Overview

Auto Component: Industry Overview

Future Growth Strategy

Financial OverviewFinancial Overview

2

Only Indian Engineering company and among a select few globally, to have integrated componentmanufacturing facilities across Forging, Iron Casting, Aluminum Casting, Machining and Sub-Assembly ofAuto and Non-Auto components

Largest Machining and Casting company and second largest Forging company in India

International management team with extensive experience driving organic growth, joint ventures,technology partnerships and acquisitions

World class integrated facilities in Asia, Europe and North America, backed by in-house design andproduct development. Optimized manufacturing sites with low cost base compared to global peers

Auto Segment: Passenger Cars, 2/3 Wheelers, Light and Heavy Commercial Vehicles and Tractors.Non-Auto Segment: Railway Wagons, Locomotive Components, Specialty Vehicles and Aerospace

Joint Ventures with leading international manufacturers providing allowing growth acceleration

Global MarketPosition

Best-in-Class

Operation

Best-in-ClassOperations

Amtek Group Investor Presentation -Business Overview

Diverse blue chip customer base across a wide range of sectors and geographies

Diversified end markets – Non-auto business accounted for 11% revenues in FY10 and growing rapidly

FYE June 2010 Revenues of ~US$ 785 million; Market Cap ~US$ 741 million

Management delivered 5 year average EBITDA margins of 21.2% and revenue CAGR of 8%

Strong balance sheet with low leverage position provides financial strength to pursue near term strategy

OperationsGlobal

CustomerBase

StrongFinancial

Performance

Premier GlobalCustomer Base

Strong FinancialPerformance

3

Amtek Auto: Overview

Globally Diversified Manufacturing Base

NCRRajasthan

MadhyaPradesh

16

3

Coventry

Stanberry

Germany (2)Witham (2)

Amtek Group Investor Presentation -Business Overview

Manufacturing Plant

Distribution Centre

Corporate Office

Under ConstructionManufacturing Plant

World Head Office

15

3

33

3

1

Maharashtra5

5

FY 10 Revenue by LocationFY 09 Revenue by Location

62%

11%

11%

9%

7%

Passenger Cars

Non-Auto

LCV / HCV

2/3 Wheelers

Tractors

Diversity Across all Aspects of Business

FY10 Global Revenues by Customer Group FY10 Global Revenue by Segment

Amtek Group Investor Presentation -Business Overview

30%

7%

63%

M achining / A ssem blies Forgings

A lum inium Cas tings7%

6

Domestic Revenues by Customer Group FY10 Domestic Revenue by Segment FY10

13%

18%

12%

17%

40%

Passenger Cars

Non-Auto

LCV / HCV

2/3 Wheelers

Tractors

39%

4%

57%

Machining / Assemblies Forgings

Aluminium Castings

Amtek: Leader Across Various Product Categories

Second largestmanufacturer of Ring

Gears in the World

Leading manufacturerLargest

LargestMachining

company inIndia

Second largestCrankshaft

manufacturer forCommercial Vehicles

in India

Leading automotiveMachining

company in UK

MarketLeadership

One of the largestCylinder Block

manufacturers in India

Leading manufacturerof

SpecializedTurbocharger

Housings in the World

Largest manufacturerof Connecting Rods in

India

Second largestForging company

in India

LargestCrankshaft

manufacturer for 2Wheelers in India

Largest Castingcompany in India

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Premier Global Customer Base

Marque customer base across a wide range of sectors and geographies.

Auto Sector Customers Non-Auto Customers

Railways Others

DieselLocomotive

Works

Top 5Customers

Top Customers

2/3 Wheeler Passenger Car

LightCommercial

Vehicle

HeavyCommercial

Vehicle Tractor

Works

GETransportation

Diesel LocoModernisation

Works

(Ministry ofDefense, India)

Defence

58

Diverse Product Profile

Only Indian company and among the select few globally to have integrated facilities across Forging, AluminiumCasting, Iron Casting, Machining and Sub-Assembly.

Forging

Existing Capacity – 390,000 tpa

Post Expansion – 425,000 tpa

World class Product & processdesign capabilities

Precision hot Forging, tooling design& manufacturing

Iron Casting

Existing Capacity – 225,000 tpa

Post Expansion – 265,000 tpa

Capability to cast large complexcomponents

Casting of various material types

Aluminium Casting

Existing Capacity – 30,000 tpa

Post Expansion – 30,000 tpa

In house engineering expertise

Advanced casting processes andmachining techniques

Machining and Sub-Assembly

Existing Capacity – 70.9 Mn pcs p.a

Post Expansion – 84.9 Mn pcs p.a

Complex, state-of- the-art machiningfacilities

Units with capabilities of sub – assemblies

Hubs & Shafts

Connecting Rod Crankshaft

FA Beams

Knuckle

FD Cover PTO Casting

Front Axle Support Turbo Charger

Cylinder Blocks

Clutch CaseIntake Manifold

Sump Cover

Ring Gear

Corner ModuleAssembly

Connecting Rod

Cylinder Heads

Cylinder Blocks Transmission Case

The above capacities does not include those of overseas subsidiaries.

9

Strong Technology/Joint Venture Partnerships

Auto: Joint Venture Partner Partner Location Ownership* Component

€1 billion (US$1.4 billion) global auto componentmanufacturer

Market leader in Fracture Split technology

US$23 billion global auto component manufacturer

World market leader in Flex Plate assembly

JPY1.3 trillion (US$14 billion) company

Utilise Sumitomo’s superior technological strength inmanufacturing Crankshaft Forgings

Germany

Canada

Japan

50% : 50%

50% : 50%

50% : 50%

Collaboration for manufacturing Ring Gears Japan 96.6% : 3.4%

Technology Partner Partner Location Component

Ateliers de Siccardi

Aizen

Manufacture of machined Crankshafts

Technical colloboration for Connecting Rod assemblies

Technical colloboration provides access to currenttechnology for manufacturing Engine Blocks

France

Italy

* Shareholding is for Amtek and JV partner respectively

Japan

Non Auto: Joint Venture Partner

US$800 million company

Among the largest manufacturer of specialised Freight Cars/ Wagons, Railway Tank Wagons in USA

USA 50% : 50%

7 10

Creating Value Through Continuous Growth

Global front-end

business

Expanding marketsDevelopedProducts

Machining andSub-Assembly

Assembly &FocussedProducts

Acquisitions inIndia/Overseas

Capacity Expansion

Organic Growth andIntegration

AluminiumCasting

Iron Casting

Forging

Joint Ventures/TechnicalPartnerships

1987 1997 1998 1999 2001 2002 2003 2004 2005 2006 2007 2008 2009

11

Auto Component: Industry Overview

0

5

10

15

20

25

30

FY05 FY06 FY07 FY08 FY09 FY10F FY11F FY12F

($b

n)

7

9

11

13

15

17

19

(InM

illions

)

Auto Component Industry Sales Total Vehicle Volumes (RHS)

Auto Sector Overview

Improving Global Sales … (1)

67

70

66

6365

70

76

50

60

70

80

2006 2007 2008 2009 2010E 2011E 2012E

Un

it(m

n)

World

CAGR: 6.5%

New entrants in India Auto Sector: Volkswagen,Nissan, Renault, Ford, among others, are setting

up manufacturing plants in India

Total Vehicle Sales and Auto Component Industry Sales

Vehicle Sales (‘mn units) and Auto Component Industry Sales (US$ bn)

Auto Component Industry Sales Total Vehicle Volumes (RHS)

10

20

30

2006 2007 2008 2009 2010E 2011E 2012E

Un

it(m

n)

Asia North America Europe

Sales are Expected to Rebound Across Regions … (1)

Source: JD Power.(1) Sales excludes medium and heavy commercial vehicle sales.

World

$3.8

$5.1

$6.8

$9.0

2009 2010F 2011F 2012F

Auto Component Exports

Auto Component Export Expected to Increase..

US$ bn

Source: SIAM, ACMA, analyst estimates.

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Future Growth Strategy

Outlook and Strategy for Auto Segment

Action Plan

Sustainable domestic sales growth

of 15–20% p.a.

Increase export revenues 9-fold in

the next 4 years

Strategy

Continue the expansion of the component exports from Indiadue to rapidly expanding demand

Leverage the increased capacity within India developed overthe last few years

Post restructuring, overseas

operations ideally suited for growth

resulting from market recovery and

new contracts

To maximise our strong market position within India toincrease our share of the increasing Indian domestic market

To maximise our strengths and develop demand for high endtechnologies through strategic partnerships

EBITDA to sustain and grow over

next 4 yearsAchieving better economies of scale , waste elimination andimprove operational efficiency resulting in higher margins

New technology ventures

15

Outlook and Strategy for Non-Auto Segment

Action Plan

Non-auto segment to contribute

35-40% of sales in next 4 years

Wagon manufacturing to contribute

US$400 million sales in the JV over

4 yrs (with Amtek's share being

50%)

Strategy

Focus on emerging defence markets such as Indiaand S.Africa ; ~US$30 billion earmarked for

equipment upgradationof Indian Army

Capture opportunities in ammunition shell forgings,armoured vehicles, upgradation of military tanks

Rail component business to

contribute US$350 million in sales

annually in next 4yrs

Increase defence-related sales to

c.US$210 million in next 4 years

Aerospace and other new sectors

(Railways, Defence) being

developed as future segments

Existing joint venture with American Railcar to providetechnical expertise

Targeting Indian railways and Middle Eastern markets

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Auto

63%

A Future of Management Leading a Value Creating Strategic Transformation…

Amtek 2014:Vision

Specialty Vehiclesand Aerospace

Aftermarket

Amtek Group Investor Presentation -Strategic Objectives

Auto89%

Non-Auto

11%

Non-Auto

37%

2010 2014

Amtek 2010:Current Position

Fully leverage existing bestin class operations andtechnologies

Continue end user / marketdiversification

Attractive growth dynamics of transportation, aerospaceand Speciality Vehicles sector

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Railway Wagons

LocomotiveComponents

Auto Components

Financial Overview

(US$mn) FY2008 FY2009 FY20101 Q4 FY 2009 Q4FY 2010

Net Sales $991 $732 $785 $174 $212

Growth % 25% (26)% 7% - -

EBITDA $204 $149 $192 $52 $54

Growth% 19% (27)% 29% - -

Margin % 21% 20% 24% 30% 25%

Interest $25 $32 $41 $9 $11

Depreciation $45 $58 $65 $16 $17

Profit Before Tax $135 $59 $85 $26 $25

Profit After Tax $99 $41 $58 $16 $15

Margin % 10% 6% 7% 9% 7%

EPS (Basic) (Rs.) 31.33 13.50 12.21 5.28 3.50

Book Value Per Share (Rs.) 209.4 226.9 218.2 - -

Share Capital (Rs.mn) 282.0 282.0 403.4 282 103

Net Worth (Common Stockholder's Equity) (Rs. Mn) 30,190 32,486 44,013 - -

Financial Overview

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Net Worth (Common Stockholder's Equity) (Rs. Mn) 30,190 32,486 44,013 - -

Share Capital

As on June 30, 2010 As on Sep 30, 2010 Fully Diluted(3)

Shares Outstanding (mn) 201.7 209.1 235.2

Share Capital (Rs. mn) 403.4 418.2 470.4

Issue Size Current Outstanding(2) Maturity Date Conversion price

$250.00 mn $108.60 mn June 2011 INR 458.64

$165.00 mn $ 6.87 mn July 2014 INR 148.40

Warrants

24 mn

24 mn

7.5 mn before March 2011 & 16.5 mnbetween April- March 2012

INR 180.00

(3) Excluding Bond maturing in June 2011.14

FCCB and Warrant Maturity Schedule

Note: Fiscal year is June ending(1) FY 2010 results are unauditedFX rate: INR 47 = 1 US$.

(2) Current Outstanding as of Sep 30, 2010

Amtek Group Operations Comprise of Amtek Auto, Amtek India and Ahmednagar Forgings

32%35%

13%20%

Amtek Group Operations Comprise of Amtek Auto, Amtek India and Ahmednagar Forgings

Amtek Auto Subsidiaries Ownership (%)

Amtek India Ltd.1 26%

Ahmednagar Forgings Ltd. 55%

Amtek Ring Gears Ltd. 97%

Amtek Crankshaft (India) Ltd. 100%

Amtek Transportation Systems Ltd. 100%

Amtek Investments US (I) Inc. 100%

Smith Jones Inc. 100%

Amtek Deutschland Ltd. 100%

Shareholding Structure2

Top FI -

Sansar Capital

ChrysCapital

LIC

Warburg Pincus

Birla Sunlife

Amtek Auto Ltd.

Amtek India Ltd.

Amtek Group Investor Presentation -Business Overview

Note:1 Amtek India financials are not consolidated in Amtek Auto2 As of 30 Sep 2010

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55%20%

9%16%

40%

36%

4%

20%

Amtek Deutschland Ltd. 100%

Zelter GMBH 100%

Amtek Investments UK Ltd. 100%

Kings Automotive Systems Ltd. 100%

Amtek Aluminum Casting (Witham) Ltd. 100%

Amtek Defence Technologies Ltd 100%

Amtek Auto Joint Ventures Ownership (%)

Amtek ARI Railcar Industries Ltd 50%

MPT Amtek Automotive (India) Ltd* 50%

Amtek Tekfor Automotive Ltd* 50%

SMI Amtek Crankshaft Pvt. Ltd* 50%

Ahmednagar Forgings Ltd.

Promoters FIIs Domestic Institutions Others

Top FI -

Chrys Capital

Warburg Pincus

Sansar Capital

Merrill Lynch

HDFC

Top FI -

Chrys Capital

HDFC

Sansar Capital

Macquaine Bank

Morgan Stanley

• ARI -American Railcar Industries• MPT-Magna Powertrain• Tekfor -Neumayer Tekfor• SMI-Sumitomo Metal Industries

Amtek Group: Proposed Reorganization

Amtek Auto has acquired 33 million shares of Amtek India at anaverage price of Rs. 64.83 per share, constituting 26.25% ofthe paid up equity capital of Amtek India, through a block deal

As a result, Amtek Auto has applied to SEBI to issue a tenderoffer to buy an additional 25 million shares, or 20% of the paidup equity capital of Amtek India, at a price of Rs. 68 per sharein an open offer

The rationale for this transaction

As on 30 June 2010

Financial Performance

o Simplify structure

o Achieve better economies of scale

o Improve fund allocation across business units

o Strengthen balance sheet

o Enhance shareholder value

As on 30 Sep 2010

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Amtek: Group Structure

Amtek Auto Limited(Market Cap:US$741 mn)

Amtek India Limited(Market Cap:US$178 mn)

Promoters

Amtek InvestmentsUK Ltd

Amtek Investment US (I) Inc.Smith Jones

Inc., USAAmtek Deutschland

Ltd

31.38% 40.21%

100% 100% 100% 100%

Zelter GMBH

100%

Kings AutomotiveSystems Ltd

Amtek AluminiumCasting (UK) Ltd

100%100%

Amtek Ring GearsLtd

96.6%

Amtek TekforAutomotive

Ltd

50%

MPT AmtekAutomotive(India) Ltd

50%

Ahmednagar Forgings(Market Cap:US$ 98 mn)

54.9%

AmtekCrankshaft(India) Ltd

100%

Amtek DefenceTechnologies

Ltd

100%

AmtekTransportationSystems Ltd

Amtek ARIRailcar

Industries Ltd

100%

50%

SMI Amtek CrankshaftPvt Ltd

50%

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One of the largest automotive component manufacturingcompanies which has full commodity integration of Iron, AluminiumCasting, Forging, Machining & Sub-Assembly with the target ofbecoming the largest in Asia

No.1 and No.2 in the world and/or India on 12 key products areas

Amtek Group Investor Presentation –Key Take Away

No.1 and No.2 in the world and/or India on 12 key products areas

Plan to reduce debt position year on year

Improving ROC % year on year

Significant Capex in last 3 yrs has developed extra capacity tocatch for the ever increasing domestic Indian market

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