Investor Day Financial Review. Prem Parameswaran CFO and President North America

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1 Investor Day Financial Review Prem Parameswaran CFO and President North America October

2 1 Financial Overview

Investment Highlights 1 Commanding Position in the High Growth Indian M & E Market with Structural Upside 6 ErosNow Positioned to be the Indian OTT Platform of Choice 2 Global Leader in Indian Film

3 Investment Highlights 1 Commanding Position in the High Growth Indian M & E Market with Structural Upside 6 ErosNow Positioned to be the Indian OTT Platform of Choice 2 Global Leader in Indian Film Entertainment and Digital Music with Largest, Most Exclusive Library 5 Well Established, Digitally Advanced Channels to Market 3 Track Record of Rapid Growth and Strong Margins 4 Continuously Profitable Production Platform Continuously Churning Out Hit After Hit Eros is the leader in Indian film and music entertainment, underpinned by an unrivalled film and music library distributed across diverse sales channels ranging from traditional cinematic and television outlets to new age digital formats Source: Company information PAGE 2

4 Our Share Performance Share price growth (November 2013 today) 183% 137% 13% 30% Eros US Media Peers -3% S&P 500 Wisdom Tree India Earnings Index Netflix Eros has outperformed its peers and the wider market since IPO Source: Note: Capital IQ Data is for the period 13-Nov Oct-2015 Select peers includes Lions Gate, Time Warner, Liberty Global, News Corp, DreamWorks PAGE 3

5 Diversified, Strong Revenue Growth Geographical Reported Revenues by ($m) Channel Geographical Revenue Contribution - Functional Mix 1 ($ in millions) $236 $ Rest of the World, 43% $207 $ $ $ India, 57% Theatrical TV Digital and Ancillary (1) Share of India revenues attributable to Theatrical and TV contribution (69.3%), converted to $ at rate: INR 61.15; computed as percentage of PLC revenues. PAGE 4

6 Solid Track Record of Profitability Adj. EBITDA and margins ($ in millions) Eros lists on NYSE $80 $101 $48 $54 $54 $60 $67 $56 $33 FY' 07 FY' 08 FY' 09 FY' 10 FY' 11 FY' 12 FY' 13 FY' 14 FY' % 30.9% 34.2% 35.7% 36.1% 32.4% 30.3% 34.1% 35.6% Note: Adjusted EBITDA is defined by the Company as net income before interest expense, income tax expense and depreciation and amortization (excluding amortization of capitalized film content and debt issuance costs), adjusted for impairments of available-for-sale financial assets, profit/loss on held for trading liabilities (including profit/loss on derivatives), share based payments and transaction costs relating to equity transactions. PAGE 5

7 Investing for the Future Operating cash flow ($m) Investment in business ($m) FY '10 FY '11 FY '12 FY '13 FY '14 FY '15 FY '10 FY '11 FY '12 FY '13 FY '14 FY '15 FY '16F Targeted spending on intangibles has resulted in EBITDA nearly doubling from $54m to $101m. These investments have been highly accretive to EBITDA, library value, enterprise value, market share, and have allowed Eros to capitalize on the market opportunity and develop/launch the ErosNow platform Source: Company information PAGE 6

8 Extensive and Growing Library Provides Cash Flow Stability 3,000+ title library built over 3+ decades Portfolio Scale of slate allows Eros to combine new releases and existing content into a single portfolio for distribution New Releases & ErosNow originals Films from Films from Films from Maximizes sales and monetizes under exploited portions of the library Provides scale and helps diversify revenue mix Future exploitation of extensive library increases margins Ensures more visible and certain cash flow profile and protects against temporary market disruptions Bundled Portfolio Indian and international cable networks and broadcasters c. 25% of fiscal 2015 revenue attributed to catalogue sales PAGE 7

9 Conservative Balance Sheet Select balance sheet items ($M) ($ in millions) June 30, 2015 Cash $156 Net Debt/ EBITDA Cash and net debt leverage ($m) 1.9x 1.2x 1.6x 2.5x 1.4x 1.6x Total Debt $ Shareholders Equity $771 Total Capitalization $1, LTM (30/06/15) Adj. $104.7 EBITDA (1) Net Debt / FY2015 Adj. 1.58x EBITDA (1) Total Debt / Total Capitalization 29.4% FY '10 FY '11 FY '12 FY '13 FY '14 FY '15 Strong balance sheet with manageable leverage and strong interest coverage. Current blended cost of debt of 5.72%. Source: Company information PAGE 8

10 2 Our business model

11 Eros Theatrical Production Film by budget (1) FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 type High Medium Low Total films (2) Strong releases YTD set to be bolstered by additional highly anticipated titles in the coming years Source: Company information 1) Calendar subject to change PAGE 10

12 Greenlighting process spend of budget Cash flow through Production Cycle As cash is advanced against films under production it is classified as content advances in the balance sheet. 18 month pre-release cycle for a typical $10m budget film Pre-sales are not recognised as revenue until release of the film and any pre-sales cash received is classified as Creditors in the Balance Sheet Pre-sales window Pre- Production and Planning Production (Principal Photography) Post- Production Release $5.5m $1.5m $1.5m $1.5m January (Y1) - March September January (Y2) February - April Release Quarter PAGE 11

13 Revenue Recognition Release Life Cycle All revenues are recognized only after release and after all materials have been delivered to customer under contract Digital Exploitation Production and Presales Theatrical Release (TR) Ancillary including post-release music DTH DVD Distribution Eros Library Satellite TV Licensing Theatrical Release 3 months post TR 1 year post TR Key stages of pre-sale monetization TV contract signed January Film theatrical release April Delivery post release May Revenues recognized May (only when all three requirements met) Revenue recognition policy Signed contract Delivery of materials Film released PAGE 12

We have a conservative amortisation policy Amortising a typical $10m A budget film YEAR 1 $3m Print and Advertising (P&A) spend written off in current quarter (P&L) $5m (50%) of the film s budget is

14 We have a conservative amortisation policy Amortising a typical $10m A budget film YEAR 1 $3m Print and Advertising (P&A) spend written off in current quarter (P&L) $5m (50%) of the film s budget is amortised in the first year YEARS 2-9 The remaining 50% of the film s budget is amortised equally over 9 years In its useful life, which we conservatively approximate as 10 years, we estimate at least 50% of a film s revenues will be recouped in the first year, and over the following 2-9 years the remaining 50%. PAGE 13

15 Revenue Contribution Overview of ErosNow Monetization Model Shift to monetizing Eros 26.5m users under a tiered premium pricing model Ad free Subtitles Access to all new content Rs. 50/ month Rs. 100/ month HDTV Ad free Portability Access to all new content Indian Premium Service Weekly passes Monthly passes Series passes International Premium Service: $7.99/month Transaction Revenue: Pay as You Go Model Advertising revenue ErosNow New Revenue Model Source: Company information PAGE 14

16 3 Future Outlook

Q2 FY2016 Outlook Strong Box Office success Q2 highlights Bajrangi Bhaijaan Global Box Office

three high budget; two medium budget and thirteen low budget Bajrangi Bhaijaan set box office

2015 so far Acquisition of PingTune to enhance the user experience and interaction of ErosNow

17 Q2 FY2016 Outlook Strong Box Office success Q2 highlights Bajrangi Bhaijaan Global Box Office $77m Srimanthudu Global Box Office $31m Welcome Back Global Box Office $20m Released 18 films: three high budget; two medium budget and thirteen low budget Bajrangi Bhaijaan set box office records as the second highest grossing Bollywood film ever, and the highest grossing film of 2015 so far Acquisition of PingTune to enhance the user experience and interaction of ErosNow Launch of first original animated digital graphic series Blazing Bajirao Source: Bollywoodhungama PAGE 16

18 Key Future Focus Areas Organisational and Financial Top-line growth: 15% EBITDA margin of 35%+ Maximise and monetise ErosNow registered users Implement working capital efficiencies Maintain conservative balance sheet and modest leverage Structural Simplify corporate structure and align shareholder interests to PLC level Pursue premium content acquisitions to enhance content library and competitive moats Expand internationally in a targeted and strategic manner PAGE 17

19 5 Thank you

20 Important notice and disclaimer These materials contain statements that reflect Eros International PLC s (the Company ) beliefs and expectations about the future that constitute forward looking statements as defined under U.S. federal securities laws. 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 ability to complete the acquisition of Techzone, the Company s contingent liabilities, general economic and political conditions in India and globally, including fiscal policy and regulatory changes in the Indian film industry and other factors discussed in the Company s public filings. 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. In addition, even if the results of operations, financial condition and liquidity, and the development of the markets and the industry in which the Company operates are consistent with the forward-looking statements contained in these materials, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors, many of which are beyond the Company's control, could cause results and developments to differ materially from those expressed or implied by the forward-looking statements. The Company has filed a Registration Statement on Form F-1 with the U.S. Securities and Exchange Commission, which includes (under the caption Risk Factors ) information concerning the factors that could cause the Company s results to differ materially from those contained in the forward-looking statements. You may obtain a copy of this document by visiting EDGAR on the SEC website at PAGE 19

EROS INTERNATIONAL PLC REPORTS FOURTH QUARTER & FISCAL YEAR 2014 RESULTS

EROS INTERNATIONAL PLC REPORTS FOURTH QUARTER & FISCAL YEAR 2014 RESULTS 06/12/2014 Financial Highlights Fourth Quarter Ended March 31, 2014 Revenues increased by 21.2% to $63.3 million, compared to $52.2