1. VEDANTA RESOURCES PLC
Preliminary Results Presentation
for year ended 31 March 2012
17 MAY 2012

2. Cautionary Statement and Disclaimer
The views expressed here may contain information derived from publicly available sources that have not been
independently verified.
No representation or warranty is made as to the accuracy, completeness, reasonableness or reliability of this
information. Any forward looking information in this presentation including, without limitation, any tables, charts
and/or graphs, has been prepared on the basis of a number of assumptions which may prove to be incorrect. This
presentation should not be relied upon as a recommendation or forecast by Vedanta Resources plc ("Vedanta").
Past performance of Vedanta cannot be relied upon as a guide to future performance.
This presentation contains 'forward-looking statements' – that is, statements related to future, not past, events. In
this context, forward-looking statements often address our expected future business and financial performance,
and often contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' or 'will.' Forward–
looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties
arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in
interest and or exchange rates and metal prices; from future integration of acquired businesses; and from
numerous other matters of national, regional and global scale, including those of a environmental, climatic, natural,
political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future
results to be materially different that those expressed in our forward-looking statements. We do not undertake to
update our forward-looking statements.
This presentation is not intended, and does not, constitute or form part of any offer, invitation or the solicitation of
an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities in Vedanta or any
of its subsidiary undertakings or any other invitation or inducement to engage in investment activities, nor shall
this presentation (or any part of it) nor the fact of its distribution form the basis of, or be relied on in connection
with, any contract or investment decision.
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 2

3. Overview
Navin Agarwal
Deputy Executive Chairman

4. FY2012 Highlights
Financials
EBITDA of $4.0bn; EBITDA margin 41%1
Underlying EPS of $1.42
Free Cash Flow of $2.5bn2; Cash and Liquid Investments of $6.9bn
Final Dividend at 35 US cents per share
Corporate
Group simplification creates Sesa Sterlite – on track for completion in CY2012
Integrated Cairn India – Rajasthan production now at 175kbopd; basin potential of 300kbopd3
Acquired Liberia Iron Ore assets with c.1bn tonnes R&R; first shipment in FY2014
Operations
Growth capex largely invested – to drive production and cash flow growth
Significant production growth in Silver, Alumina, Aluminium, Power and Oil & Gas
Exploration success at Zinc, Iron Ore and Oil & Gas
Note: 1. Excludes Copper Custom Smelting operations
2. Free Cash Flow before Growth Capex
3. Subject to approvals
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 4

5. Industry Landscape - the Vedanta Advantage
Sector Theme Vedanta Positioning
Growing Metals and Energy Demand
Growing Metals and Energy Demand
Driven by emerging markets Significant production growth in key commodities
Proximity to emerging markets
Supply-Side Headwinds
Supply-Side Headwinds
Operating costs: wage and energy cost Low-cost advantage: high quality assets, competitive
inflation, declining grades labour cost and integrated approach
Many large mines nearing end-of-life Long-life assets with further exploration upside
Project Delivery Challenges
Project Delivery Challenges
Capital costs and timelines Growth projects significantly invested, and ramping-up
Investment vs. return of capital Vedanta at inflection point with strong returns driven by
volume growth
Regulation
Regulation
Regulatory and fiscal changes Substantial contributor to economies and communities
Regional issues occurring globally Partnering with Government
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 5

6. Tier-1 Diversified Asset Portfolio
FY2012
Production Capacity R&R Life1 Sustainable Cost Position
Zinc India
Zinc India 830kt 1mtpa 25+ Lowest Quartile
Zinc Intl Intl.
Zinc 444kt 400ktpa 20+ Lower Half
SilverSilver 7.8moz 16moz pa 25+ By-product
2
Oil and & Gas
Oil Gas 173kboepd 260kboepd 17 Lowest Quartile
Iron Ore Ore3
Iron 13.8mt 20.5mtpa 18 Lowest Quartile
4
Copper Zambia
Copper 200kt 400ktpa 24+ Lower Half
Currently Lower Half;
Aluminium
Aluminium 675kt 2.3mtpa
Lowest Quartile with Captive Bauxite
Large, Low-Cost, Long-Life, Scalable Assets
Note: 1. At capacity
2. Capacity expected for the current producing assets, subject to approvals
3. Excluding Liberia
4. Mine life of Konkola Deeps
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 6

7. Delivering on Strategic Priorities
Delivered in FY2012 Focus for FY2013
Cairn India and Zinc-Intl integrated Rajasthan ramp-up to significant part of
240kbopd1 in CY2013; progress towards basin
GROWTH Liberia Iron Ore assets acquired
potential of 300kbopd1
16moz Silver capacity at Zinc-India
Recovery of Iron Ore volumes, and ramp-up
Organic Growth, Progressed on organic growth projects at Konkola and Power
Value Accretive M&A Next leg of growth – Liberia, Gamsberg, Zinc-
India
Simplification of the Group structure Complete the simplification of the Group
announced structure
UNLOCK VALUE
Exploration success at Oil & Gas, Iron Adding R&R at Oil & Gas, Iron Ore, and Zinc
Ore, and Zinc
Continued focus on securing Coal and Bauxite
Optimise Returns Low cost advantage maintained
Reduce gearing through strong Free Cash
Flow post capex
Long Term Value Creation with a Focus on Sustainability
Note: 1. Subject to approvals
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 7

8. Delivering Free Cash Flow
Cash Flow and Capex Profile - $bn1 Year-end Capacity (in Copper Equivalent - kt)3
Free Cash Flow² Capex-ex-Cairn Capex-Cairn Zinc-Lead Silver Iron Ore Copper
Aluminium Power Oil & Gas
4,000
3,500
3,000
0.5 1.2
2,500
1.1
3.7 2,000
3.1
1,500
2.5
2.3 2.2
1.8 1.9 1,000
1.7
1.4
500
0
FY2010 FY2011 Proforma FY2013e FY2014e FY2015e FY 2011 FY 2012 FY 2013 FY 2014 FY 2015
FY2012
Free Cash Flow at an Inflection Point
Notes: 1. Refers to organic growth capex. Cairn India has not announced capex for FY2015
2. Free cash flow before Growth Capex
3. All metal and power capacities rebased to copper equivalent capacity (defined as production x commodity price / copper price) using Long Term commodity price estimates. Power rebased using FY2012 Realisations.
Copper custom smelting capacities rebased at TC/RC for FY2012
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 8

9. Industry-Leading Growth
Top Global Diversified Industry-Leading Growth
Natural Resources Companies (Copper Equivalent FY2012 to FY2015 CAGR)3
EBITDA Market cap
(CY11 - $bn) ($bn)
BHP Billiton 38.5 176.8
Vedanta
Vale 33.8 109.4 Sesa Sterlite
Rio Tinto 28.5 99.1 Vale
Glencore Xstrata1 16.2 79.2
Glencore-Xstrata
Anglo American 13.3 46.9
BHP Billiton
Vedanta2 5.9 5.4
Rio Tinto
Teck 5.5 19.6
ENRC
Sesa Sterlite2 5.3 -
ENRC 3.4 11.2 Anglo American
0% 5% 10% 15% 20%
Source: Company filings and broker reports. Market data as of 10 May 2012
Note: 1. Assumes proposed merger completes
2. Pro forma EBITDA for the twelve months ended December 2011, including Cairn India for full year
3. Vedanta and Sesa Sterlite based on year-end capacity growth, peers based on equity research production estimates. Converted into copper equivalent using Long Term commodity price estimates. Power rebased using
Vedanta FY2012 Realisations and Copper custom smelting capacities rebased at TC/RC for FY2012.
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 9

10. Financial Results
D D Jalan
Chief Financial Officer

11. Financial Highlights
FY2012
proforma with
$mn or as stated FY2012 FY2011 Change Cairn
EBITDA 4,026 3,567 13% 5,353
EBITDA margin1 (%) 40.6% 44.6% - 46.7%
Underlying Attributable PAT2 387 715 (46)% 571
Underlying EPS($/share)2 1.42 2.63 (46)% 2.09
Free Cash Flow before Growth Capex 2,534 2,347 8% 3,128
Growth Capex3 2,398 2,517 (5)% 2,728
Total Dividend (USc/share) 55.0 52.5 5%
Notes: 1. Excludes custom smelting operations
2. Based on profit for the year after adding back special items and other gains and losses, and their resultant tax and minority interest effects
3. Excludes sustaining capex
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 11

12. EBITDA Reconciliation
FY2012 vs. FY2011 ($mn)
160
978 39
(126)
(201)
37 4,026
3,567 (428)
61%
Commodity
linked
EBITDA New Assets¹ Price Volume excl. Volume Export Duty Cash Cost Others EBITDA
FY 2011 Iron Ore Iron Ore FY 2012
Notes: 1. Includes $265mn from Zinc-Intl and $713mn from Cairn India. Cairn India is accounted for as a subsidiary from 8 December 2011.
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 12

13. EBITDA to PAT
FY2012 ($mn)
4,026
(1,408)
(230)
(420)
(314)
92 1,229
(517) 77%
Underlying
Minority Interest
387
60
(1,169)
EBITDA Depreciation Special Net Interest FX and Tax Profit from PAT including Minority Attributable Underlying
and Items Expense Embedded Associates Associates Interest PAT Attributable
Amortization Derivatives PAT¹
Notes: 1. Profit for the year after adding back special items and other gains and losses, and their resultant tax and minority interest effects
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 13

14. Strong Financial Profile
Cash and Liquid Investments of $6.9bn, with additional $2.9bn undrawn lines of credit
FY2012 Proforma Net Debt:EBITDA including Cairn of 1.9x; Credit ratings of BB/Ba3/BB1
Post group structure simplification, debt service liability at plc reduces by 61% to $3.9bn
− Debt service cost at Vedanta reduces from $500mn to $190mn in FY2013
− Payout-based dividend policies at subsidiaries to result in significantly higher dividends flowing to plc
Limited maturities at plc in FY2013 – $250mn already refinanced
Debt Maturity Profile as of 31 March 2012 ($bn)2 4.5
4.1
$1.8bn - Bridge loan to be rolled over into long term facilities
$0.5bn - Revolving working capital facility
$0.8bn - To be repaid through internal cash flows 3.2
2.3
2.7 0.3
2.4
3.1
0.5
1.3
3.0
1.5
0.7 2.2
1.3
1.0 0.4
0.5 0.1 0.3
FY2013 FY2014 FY2015 FY2016 FY2017³ FY2018 and later
Debt at VED plc Debt to be transferred from VED plc to Sesa Sterlite Debt at Subsidiaries
Notes: 1. Issue credit Ratings as per S&P, Moody’s and Fitch respectively
2. Debt numbers shown at face value
3. Includes convertibles at Vedanta Plc of $883mm due in FY2017 (with a put option in April 2013) and $1,250mm due in FY2017 (with a put option in July 2014)
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 14

15. Business Review
M.S. Mehta
Chief Executive Officer

16. EBITDA: Continued Growth and Diversification
Proforma FY2012
FY2011 FY2012
with Cairn India for Full Year
Power Aluminium
Power Aluminium 2% 3%
Oil & Gas
Power Aluminium 3% 4% Copper
38%
4% 7% Oil & Gas 13%
Copper
18%
17%
Copper
Iron Ore 19%
33%
Iron Ore
18%
Zinc-Int. Zinc-India Zinc-India Zinc-India
3% 34% Zinc-Int. 31% 23%
9% Iron Ore Zinc-Int.
14% 7%
EBITDA: $3.6 bn EBITDA: $4.0bn EBITDA: $5.4bn
+13% +50%
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 16

17. Sustainability – Integral to our Business
48% reduction in LTIFR over 5 years LTIFR
-48%
− Structured programs in place to enhance safety and prevent
fatalities
Climate Change 1.9 1.7 1.5
− Continued improvement in specific energy and water consumption 1.1 1.0
− Participated in Carbon Disclosure Project 2011: Sesa Goa received
7th position in India FY 2008 FY 2009 FY 2010 FY 2011 FY 2012
Green Energy
Specific Water Consumption
− Operating 274MW wind power
BALCO (m3/MT)
− Generating 61MW from waste heat -75%
New Sustainability Framework rolled-out
− New policies and technical standards rolled-out 15.6 14.2
− Exco Sustainability Sub-Committee formed to enhance sustainability 7.2 3.9
focus
FY 2009 FY 2010 FY 2011 FY 2012
− 17 of 29 Scott Wilson recommendations implemented, others on
schedule Specific Energy Consumption
Community programs covering 3.1million people HZL Smelters (GJ/MT)
-15%
− Jointly working with NGOs, administration, and beneficiaries,
supported by a strong team of CSR personnel and extension
workers. 19.0
Focus: Health and Nutrition, Education, Women Empowerment, 17.0 16.9
− 16.3 16.2
Water & Sanitation, and Sustainable Livelihood
FY 2008 FY 2009 FY 2010 FY 2011 FY 2012
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 17

18. Creating Long Term Value Through Exploration
Zinc-India Zinc-Intl Iron Ore Copper-Zambia Oil & Gas
Added 3x times Added mine life at India R&R increased to R&R replacement
mined out in all three assets 689mt from 457mt ratio of 1.75x in
Added net 68mt in
FY2012 at acquisition FY2012
FY2012, 18 year
Current mine life:
Added 4.8x times mine life at current Potential resource
24+ year mine life
mined out since IPO − Skorpion: capacity
with high grade at increased to 7.3
5+years1
R&R increased to KDMP billion boe gross in
R&R increased from
332mt, from 144mt − BMM: 10+years place from 6.5
190mt2 at
at Vedanta IPO − Lisheen: 3years billion boe gross in
acquisition to
place at Rajasthan
25+year mine life 374mt – added 3.4x
with 10%+grades 186mt Gamsberg times mined out
deposit feasibility Exploration success
study underway at Sri Lanka and
Liberia
Nagayalanka
1bn tonnes R&R
17 year R&R life
− Aeromagnetic
study completed
− Initial drilling
indicates
potential upside
Creating Long Term Value through Exploration
Notes: 1. With some additional work for conversion of resources to reserves
2. 120mt excluding Orissa from Sesa Goa acquisition, and 70mt from Dempo acquisition
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 18

19. Cairn India - Delivering Growth and Cash Flows
Production Growth - Rajasthan Rajasthan Gross Production (bopd)
Since acquisition, output has been enhanced from
125kbopd to 175kbopd
Mangala field producing since Aug 2009; currently at
150kbopd
Bhagyam field producing since Jan 2012; currently at
25kbopd
Resource base supports basin potential to produce
300kbopd1
Exploration Growth Significant 300,0001
part of Basin
Diversity of basin, plays and environments
240,0001 Potential
− Exploration success ratio ~50% in CY2013
Barmer Hill
Achieved reserve & resource replacement ratio of 175% Primarily
during the year 175,000 Further
from MBA exploration
Currently
Net unrisked exploration potential for the portfolio at Aishwariya
2.1bn boe Mangala towards
150kbopd end CY2012
Significant exploration upside at Rajasthan 125,000 at
Acquisition Bhagyam
Successful discoveries at Sri Lanka and KG-ONN-2003/1
completion upto
40kbopd
Mangala
125kbopd
Note: 1. Subject to approvals
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 19

20. Cairn India
Acquisition completed in December 2011 Rapid Production Growth
Production
− Integration completed (Gross Production in kboepd) FY2011 FY2012
− Announced Dividend Policy of ~20% payout of net Average Daily Gross Operated 149,103 172,887
income Production (boepd)
Rajasthan 100,993 128,267
Ravva 36,942 36,379
Cairn India production and contribution
Cambay 11,169 8,242
− Average daily gross operated production in FY2012 at
Average Daily Working Interest 83,474 101,268
172,887 boe Production (boepd)
− Reduced India’s crude oil import dependency by Rajasthan 70,695 89,787
~US$6bn on a gross basis Ravva 8,312 8,185
Cambay 4,468 3,297
EBITDA1 - 713
Rajasthan potential increased to 7.3bn boe gross in place Note: 1. Numbers post acquisition
from 6.5 billion boe gross in place since acquisition
announcement
EBITDA2 ($mn)
− Recoverable risked prospective resource estimated at
530 mmboe gross
Development
− Rajasthan EOR Pilot on track; booked 70 mm bbls as
Proved & Probable Reserves 581
450 467
− Barmer to Salaya section of the pipeline being
debottlenecked and augmented
− Ravva infill drilling completed, decline rate slowed
Q2FY2012 Q3FY2012 Q4FY2012
Note: 1. Subject to approvals Note: 2. Numbers in Indian GAAP as reported by Cairn India Ltd
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 20

21. Zinc
Zinc-India Production and Cash Costs
Record production of refined Zinc, Lead and Silver Zinc-India FY2011 FY2012
− Maintained lowest quartile cost position Mined Metal (kt) 840 830
Strong ramp-up of lead and silver production Refined Zinc (kt) 712 759
Refined Lead (kt)1 63 99
− Silver rich 2mtpa SK mine at 90% utilization
Silver – Integrated (moz)1 5.75 7.61
− Silver contributed $210mn EBITDA
Zinc CoP2 ($/t) 808 834
− 11.3moz Integrated silver production in FY2013
27mt gross addition to R&R in FY12 FY2011
Zinc-International post acq’n FY2012
− More than 25 years mine life
Mined Metal – Lisheen & BMM (kt) 44 299
Refined Zinc – Skorpion (kt) 50 145
Zinc-International
CoP ($/t) 1,129 1,165
Stable operating performance Notes: 1. Includes captive consumption
2. Excluding royalty
Exploration: Mine life extended at all three assets
EBITDA ($mn)
− Skorpion: 5+ year mine life1 India International
− BMM: 10+ year mine life 1,611
1,321
− Lisheen: 3 year mine life 101 366
186mt Gamsberg project:
1,220 1,245
− Feasibility study to complete in current quarter
− Targeting mine production in 2 years FY 2011¹ FY 2012
Note: 1. With some additional work for conversion of resources to reserves Note: 1. For the period post acquisition
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 21

22. Iron Ore
India Production and Sales (mn DMT)
Net addition of 68mt of R&R Iron Ore FY2011 FY2012
− Total R&R of 374mt, implying 18 year mine life Sales1 18.1 16.0
Operating performance affected by Goa 14.4 13.3
Karnataka 2.1 2.7
− Logistics bottlenecks at Goa: Expanding roads
and developing new corridors Orissa 1.7 -
− Karnataka mining ban: process underway to Production 18.8 13.8
resuming mining Pig iron - Production (kt) 276 249
Margins affected by 30% export duty from Dec 2011 Note: 1. Iron ore sales includes captive consumption of 0.30 mt each in FY2011 and FY2012
Commissioning of 375kt Pig Iron expansion project in
current quarter
EBITDA ($mn)
Liberia
Aeromagnetic survey completed and scoping study
near completion
− Indicates significant upside to earlier estimated
resource base of 1bn tonne 1,174
Targeting first shipment in FY2014 721
FY 2011 FY 2012
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 22

23. Copper-India
Copper India/Australia Production and Cash Costs
Strong volume and cost performance Copper India/Australia FY2011 FY2012
Mined Metal 23 23
EBITDA up 24% - driven by higher volumes, better Refined Metal – India (kt) 304 326
by-product credits, and higher Tc/Rc Conversion cost – India (c/lb) 4.0 0.0
Higher smelter availability through technology and
process improvements
160MW CPP Project - mechanical completion of first
80MW achieved
EBITDA ($mn)
Copper Australia Copper India
298
240
239
166
73 59
FY 2011 FY 2012
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 23

24. Copper-Zambia
Copper Zambia Production and Cash Costs
Integrated production up 5% Copper Zambia FY2011 FY2012
− Commissioned 2900level high speed tramming facility Mined Metal 144 142
increasing mine development pace Refined Metal – Integrated 133 139
− Copper smelter recovery at 98.5% Refined Metal - Custom Smelting 84 61
− Costs affected by higher power, fuel and labour costs CoP – Integrated ($/lb) 1.97 2.37
− UOB – trial mining successfully completed, confirmed
higher grades of Copper and Cobalt
Commissioned during the year
− 2nd Cobalt Recovery Furnace commissioned in Q4,
fully ramped-up in April
− 7.5mt East Mill commissioned in Q4, ramping-up
− TLP-IV debottlenecking to 75ktpa completed EBITDA ($mn)
Exploration: Maintained track record of R&R replacement
FY2013 Priorities:
− 3mt West Mill to be commissioned in Q2FY2013
− Accelerate Konkola mine development pace to
60km/year
440
388
− Bottom shaft loading at KDMP by Q3 - Platform for
25-30% year-on-year growth in mined metal
− Start regular mining at UOB
FY 2011 FY 2012
− 175kt Integrated Production
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 24

25. Aluminium
Record Alumina and Aluminium production Volumes and Cash Costs
− Value added product sales up 25%, at c.400kt Aluminium and Alumina FY2011 FY2012
Aluminium Production (kt) 641 675
BALCO 255 246
Resumed efficient operations at VAL in H2, following VAL 385 430
a power outage in H1 Aluminium COP ($/t) 1,878 2,091
BALCO 1,784 1,922
− Reduced specific consumption of power and VAL 1,940 2,188
carbon Alumina Production (kt) 707 928
− Significantly lower COP in H2, with Q4 COP at Alumina COP ($/t) 326 350
$1,930/t despite input cost pressures Power – BALCO 270MW (mu)
Sales 1,623 1,605
− Q4 COP in second quartile of cost curve, without Realisation (Rs/unit) 3.4 3.2
bauxite linkage COP (Rs/unit) 1.9 2.2
EBITDA ($mn)
Working with government on bauxite allocation
BALCO projects
− 1200MW CPP: 1st Unit synchronization in
Q1FY2013 353
− 325ktpa smelter – first metal in Q3 FY2013
182
− Captive coal mining in FY20131
FY 2011 FY 2012
Note: 1. Subject to approvals
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 25

26. Aluminium Industry Dynamics
Input cost inflation globally in 2011 Aluminium Cost Curve ($/t)
− LME below c1 costs of c.50% of global capacity
3,000
− Capacity cuts by several marginal cost smelters
BALCO1 - $1,919/t
− Correction in input prices seems inevitable
VAL1 - $1,930/t
2,500
VAL and BALCO are in 2nd quartile of cost curve in
Q4FY2012
− EBITDA margin in Q4, in-line with peers
2,000
− Cost efficient even without bauxite linkage
Second Quartile - $2,057/t
Committed to an integrated Aluminium strategy
First Quartile - $1,761/t
Third Quartile - 2,272/t
1,500
− Well invested plant with world-class technology
and infrastructure at benchmark project costs
− Strategic location in Eastern India: Proximity to
Bauxite and Coal deposits 1,000
500
0 10 20 30 40 50 60 70 80 90 100
Cumulative Production (Percentile)
Source: Wood-Mackenzie CY2012Q1 C1 Cost Estimates, Company sources for VAL and BALCO
Note: 1. Q4 FY2012 COP
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 26

27. Power
Sales significantly higher reflecting commissioning of Sales and Cash Costs
new capacity at 2,400MW Jharsuguda power plant
FY2011 FY2012
− Three 600MW units operational Total Sales (mu) 1,878 6,554
− 4th unit under trial runs, to be commissioned in SEL (mu) 8561 5,6382
current quarter Others3 1,022 916
− 65% average plf expected for all units in FY2013 Average realisation (USc/u) 9.7 7.5
Average cost of generation (USc/u) 6.2 5.5
Average realisation (INR/u) 4.44 3.61
Continuous operational improvement at Jharsuguda
Average cost of generation (INR/u) 2.81 2.63
− Q4 cost lower at INR2.26/unit Notes: 1. Includes 646mu generated under trial run
2. Includes 926mu generated under trial run
3. MALCO 100MW & WPP274MW
− On track to further reduce specific coal
consumption
EBITDA ($mn)
1st 660 MW unit of 1,980MW Talwandi Sabo on track
for commissioning by Q4 FY2013
122
44
FY 2011 FY 2012
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 27

28. Summary
World-class diversified portfolio of large, structurally Year End Capacity
low-cost assets with long mine-life (in copper equivalent kt)
Zinc-Lead Silver Iron Ore Copper
Strong cash flow growth driven by substantially
Aluminium Power Oil&Gas
invested projects
4,000
Recent acquisitions provide additional growth options
3,500
Group simplification on track for completion in CY 3,000
2012
2,500
2,000
1,500
1,000
500
0
FY 2011 FY 2012 FY 2013 FY 2014 FY 2015
Note: 1. All metal and power capacities rebased using average Copper LME and Commodity prices for H1 FY2012
2. Copper custom smelting capacities rebased at TC/RC for H1 FY2012
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 28

29. Appendix

30. Entity Wise Financials – FY2012
SIIL
VED Zinc- (incl SEL & Cairn VED Others and Cairn India
FY2012 ($mn or as stated) Consol HZL Intl Sesa CMT) KCM BALCO VAL TSPL India Plc1 Elimination (Associate)
EBITDA 4,026 1,274 366 722 296 388 120 62 86 713 0 (1)
Depreciation (927) (127) (119) (50) (45) (143) (44) (164) (51) (180) (6) 2
Amortization (481) (7) (118) (177) (13) (166)
Special Items (230) (9) (2) (14) (89) (24) (1) (31) (59) (3)
Net Interest Income (Expense) (420) 310 (3) (27) 158 (51) 2 (356) (30) 16 (235) (205)
FX and Embedded Derivative MTM (314) 4 3 2 (48) (160) (45) 3 (73)
Share of Profit in Associates 92 922
Profit before Tax 1,745 1,441 131 458 322 170 16 (618) (40) 351 (297) (280) 92
Tax (517) (294) (16) (147) (87) (51) 8 104 (5) (29)
Profit after Tax 1,229 1,147 115 311 234 119 24 (618) (40) 455 (302) (308) 92
Attributable (%) 4.9 37.6 53.9 55.1 58.0 79.4 29.6 87.6 58.0 49.8 100.0 91.8 70.9
Attributable PAT 60 432 62 171 136 94 7 (541) (23) 242 (302) (283) 65
Underlying Attributable PAT 387 434 60 175 170 108 17 (401) 3 255 (246) (253) 65
As of 31 March 2012
Property Plant and Equipment3 17,575 1,773 624 567 487 2,082 1,871 5,460 2,322 2,371 58 (40)
Mining Reserve 6,265 74 319 1,185 21 32 4,634
Exploratory Assets 10,758 183 176 42 10,357
Note: 1. Includes Vedanta plc and Investment companies at 100% attributable and MALCO at 94.8% attributable
2. Represents a total holding of 28.8% of Cairn India
3. Includes Capital Work in Progress
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 30

31. Entity-Wise Cash and Debt Details
Net Debt Summary ($mn)
31 Mar 2011 30 Sep 2011 31 Mar 2012
Company Debt Cash & LI1 Net Debt Debt Cash & LI1 Net Debt Debt Cash & LI1 Net Debt
Vedanta plc2 4,557 265 4,292 6,340 1,136 5,204 9,263 205 9,058
Sterlite standalone incl. CMT 746 1,139 (394) 636 771 (135) 565 758 (193)
Zinc-India - 3,403 (3,403) - 3,384 (3,384) - 3,574 (3,574)
Zinc-International 32 392 (360) 28 306 (278) 9 215 (206)
BALCO 518 68 451 618 26 592 711 49 662
Sterlite Energy Ltd 597 92 505 910 15 895 1,175 37 1,138
Others 24 27 (4) 52 - 52 53 1 51
Sterlite Consolidated 1,917 5,122 (3,205) 2,244 4,501 (2,258) 2,511 4,633 (2,122)
Vedanta Aluminium Ltd 2,810 115 2,695 2,825 15 2,810 3,505 85 3,420
Copper Zambia 256 6 250 765 - 765 750 42 709
Sesa Goa 212 2,194 (1,982) 867 220 648 681 118 564
MALCO - 74 (74) 16 17 (1) - 6 (6)
Cairn India - - - - - - 244 1,797 (1,553)
Total (in $mn) 9,753 7,777 1,9703 13,056 5,889 7,1664 16,955 6,885 10,0645
Note: 1. Liquid Investments
2. Includes Investment Companies
3. Includes $5 million debt related derivative
4. Includes $2 million debt related derivative
5. Includes $6 million debt related derivative
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 31

32. Net Debt Reconciliation
FY2012 ($mn)
558
7,248
10,064
(2,920)
Cairn India2
7,097
364 60
386 Liberia 90
2,398 Other 61
1,970
Opening Net Project Capex Sustaining Shareholder Subsidiary Acquisitions Others Cash Flow Closing Net
Debt Capex and Minority share from Debt
(1 Apr 2011) Dividends purchases Operations¹ (31 Mar 2012)
Note: 1. Excluding sustaining capex
2. Net of cash and liquid investments at acquisition
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 32

33. Credit Metrics
FY2011 FY2012 Covenant
Net Debt/EBITDA 0.55 x 1.9 x < 2.75 x
EBITDA/Gross Interest Expense1 5.0 x 4.5 x > 4.0 x
Tangible Net Worth ($bn) 5.5 4.5 > 3.0
Net Assets/Debt 2.61 x 2.47 x > 1.75 x
Gearing2 13% 35%
Note: 1. Interest includes Capitalized Interest
2. Gearing is calculated as Net Debt divided by the sum of Net Debt and Equity
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 33

34. EBITDA Sensitivities
Commodity prices – Impact of a 10% increase in Commodity Prices (LME/Prices in $/t, or as stated)
FY2012 FY2012 EBITDA
Commodity Average price ($mn)
Oil ($/bbl) 114 247
Zinc 2,098 221
Aluminium 2,313 162
Copper 8,475 140
Iron Ore 76 121
Lead 2,269 37
Silver ($/oz) 35.3 24
Foreign Currency - Impact of a 10% depreciation in Closing FX Rate
FY2012 FY2012 EBITDA
Currency Average FX rate ($mn)
INR/USD 47.9458 195
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 34

35. Sales Summary
Sales volume FY2011 FY2012 Sales volume FY20112 FY2012
Zinc-India Sales Iron-Ore Sales
Refined Zinc (kt) 713.1 758.5 Goa (mn DMT) 14.4 13.3
Refined Lead (kt) 56.9 91.7 Karnataka (mn DMT) 2.1 2.7
Zinc Concentrate (DMT) 66.0 - Orissa (mn DMT) 1.7 -
Lead Concentrate (DMT) 38.5 10.1 Total (mn DMT) 18.1 16.0
Total Zinc (Refined+Conc) kt 779.1 758.5 MetCoke (kt) 265.7 251.7
Total Lead (Refined+Conc) kt 95.3 101.8 Pig Iron (kt) 266.1 250.6
Total Zinc-Lead (kt) 874.5 860.3 Copper-India Sales
Silver (moz) 4.7 6.6 Copper Cathodes (kt) 116.6 159.0
Zinc-International Sales1 Copper Rods (kt) 186.7 161.5
Refined Zinc (kt) 47.3 152.8 Sulphuric Acid (kt) 520.8 594.9
Zinc Concentrate (MIC) 28.8 216.8 Phosphoric Acid (kt) 158.7 151.7
Total Zinc (Refined+Conc) 76.1 369.6 Copper-Zambia Sales
Lead Concentrate (MIC) 19.4 84.0 Copper Cathodes (kt) 214.5 200.9
Total Zinc-Lead (kt) 95.5 453.6 Power Sales (mu)
Aluminium Sales SEL 856 5,638
Sales - Wire rods (kt) 219.7 267.2 Non-SEL 1,023 916
Sales - Rolled products (kt) 60.1 64.0 Total sales 1,879 6,554
Sales - Busbar and Billets (kt) 38.3 66.0 BALCO 270 MW 1,623 1,605
Total Value added products (kt) 318.1 397.2 Power Realisations (USc/mu)
Sales - Ingots (kt) 315.0 271.8 SEL 6.8 7.2
Sales - Total (kt) 633.0 669.0 Non-SEL 10.3 9.4
Copper-Zambia Sales Average Realisations 9.7 7.5
Copper Cathodes (kt) 214.5 200.9 BALCO 270 MW 7.5 6.7
Power Costs (USc/mu)
SEL 4.9 5.4
Non-SEL 6.4 6.0
Average costs 6.2 5.5
Note: 1. For the period post-acquisition by Vedanta
BALCO 270 MW 4.1 4.5
2. FY2011 numbers restated as per reclassification of energy segment in Q1 FY2012. Accordingly, Non-SEL now includes power sales from MALCO 100MW and HZL Wind. BALCO 270MW and surplus sales at captive power
plants are shown in their respective segments
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 35

36. Group Structure Simplification - Timeline
Status Event Expected
BSE and NSE approval sought Mar 2012
Competition Commission approval sought Mar 2012
Foreign Investment Promotion Board approval sought Mar 2012
BSE and NSE approval received Apr 2012
Competition Commission approval received Apr 2012
Application to High Court in India and Supreme Court of Mauritius Apr 2012
Scheme documents posted to shareholders May 2012
Vedanta / Sesa / Sterlite / MALCO EGM Jun 2012
Foreign Investment Promotion Board approval Jun 2012
High Courts of India and Supreme Court of Mauritius approval Sep 2012
Transaction completion CY 2012
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 36

37. Proposed New Group Structure
Vedanta Resources
Divisions of Sesa Sterlite
79.4% 58.3%
Iron Ore (Sesa Goa)
Konkola Copper Smelting (Tuticorin)
Copper Sesa Sterlite
Mines (KCM) Power (2,400MW Jharsuguda)
Aluminium (VAL aluminium
assets)
Subsidiaries of Sesa Sterlite
58.9% 64.9% 51% 51% 100% 100% 100% 100%
Skorpion & VAL Power
Bharat Western Talwandi Australian
Zinc-India Lisheen - and MALCO
Cairn India Aluminium Cluster Sabo Power Copper
(HZL) 100% Power
(BALCO) (Liberia) (1,980MW) Mines
BMM -74% (1,405MW)
Option to Option to Option to Zinc-
increase stake increase stake increase stake International
to 94.4% to 100% to 100%
Listed entities Unlisted entities
Note: Shareholding based on basic shares outstanding
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 37

38. Vedanta Group Structure
Vedanta Resources
(Listed on LSE)
79.4% 70.5% 54.6% 94.8% 55.1% 38.7%
Konkola Vedanta 29.5% Sterlite Industries 3.6% Madras Sesa Goa 20.1% Cairn India Ltd
Copper Aluminium (Listed on BSE, Aluminium (Listed on BSE (Listed on BSE
Mines (KCM) (VAL) NSE and NYSE) (MALCO) and NSE) and NSE)
51.0% 64.9% 100% 74% 100% 100% 51%
Bharat Zinc-India(HZL)
Skorpion and Black Australian Liberia
Aluminium (Listed on BSE Sterlite Energy
Lisheen Mountain Copper Mines Iron Ore Assets
(BALCO) and NSE)
Zinc-International
KEY
Aluminium Copper Iron ore Power Zinc-India Zinc-International Oil & Gas
Note: Structure as at 31 March 2012
FY2012 PRELIMINARY RESULTS PRESENTATION - 17 MAY 2012 38