GUJARAT NRE SAILING AHEAD AMID TURBULENT TIMES

GUJARAT NRE SAILING AHEAD AMID TURBULENT TIMES

Steel Development Pattern around the globe India s long term steel development pattern is similar to most countries, following the same pattern of more than a century old China has already reached its peak in growth rate, while India is on the rise..

SLOW YET STEADY GDP Outlook short term In the longer term INDIA is not dead 12 10 8 6 4 4.4 5.8 3.8 8.5 7.5 9.5 9.6 9.3 6.8 8 8.5 6.9 6.5 2 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 f Affected by the prevailing global crisis, short term outlook is weak growth to continue till 2013 Domestic consumption and lower interest rates will trigger future growth

million tonnes Indian steel outlook Forecasts for steel vary widely depending on the view of growth. India s steel production will be driven by large iron ore reserves, but with very limited domestic met coal - imported coal is essential 300 Indian steel outlook to 2025 250 Crude Steel 200 150 100 50 0 Source: Internal estimates 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Import of coking coal (million tonnes) (RHS) Demand Supply Scenario in Coking Coal (in Million Tonnes) 50 45 40 35 30 25 20 15 10 5 0 43.2 39.02 37.66 39.39 40 35.17 26 22.03 21.08 23.47 23.2 17.88 17.29 16.99 16.58 15.92 16.8 17.2 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 Demand of coking coal Production Import 45 35 25 15 5-5 Source: Annual Report 2011-12, Ministry of Coal, Govt of India

Million Tonnes In absence of adequate Domestic Production, Demand to be met by Imports 100 India's Coking Coal Import Forecast 80 60 40 20 0 2005 2007 2009 2011 2013 (P) 2015 (P) 2017 (P) 2020 (P) Source: various reports and internal estimates

GNCL - A SNAPSHOT Largest independent producer of Metallurgical Coke in India Profit earning and dividend paying with strong financials and credit rating of AA- for long term borrowing and A1+ for short term borrowing. Met Coke capacity 1.434 MT, being increased to 4 Million Tonnes The 1 st Indian Company to have exported Met Coke from India and has a continuous export order book Strong focus on the Environment with ISO 14001:2004 & OHSAS 18001:1999 certification Rated one of the top 10 company by 10-years profit performance issued by Business Today on India s Most Valuable Companies (Nov 2009 edition) 7

GNCL OPERATIONS HARD COKING COAL (NSW, AUSTRALIA) RESERVES 125 MMT RESOURCES 651 MMT Gujarat NRE Coking Coal Limited (ASX: GNM) NRE NO. 1 314 million tonnes NRE Wongawilli 337 million tonnes Waste Heat Recovery Power Plants Khambhalia* Bhachau* Dharwad* Total Wind Power 15 MW 15 MW 30 MW 60 MW 87.5 MW STEEL UNIT TMT BARS : 0.311 MMTPA Coal Washeries LOW ASH METALLURGICAL COKE 1.434 MMTPA KHAMBALIA (Jamnagar) 0.358 MILLION MTPA BHACHAU (Kandla) 0.504 MILLION MTPA DHARWAD (Hubli) 0.572 MILLION MTPA Khambalia Bhachau Dharwad 0.75 MTPA 0.75 MTPA 0.90 MTPA In Australia * Under implementation In India

600.00 GNCL 5 year ended cumilative PAT (in Rs Crore) 500.00 400.00 425.64 479.16 453.00 490.37 437.73 300.00 200.00 216.02 265.38 Global crisis 153.67 100.00 76.74 0.00 2003 23.36 2004 2005 2006 2007 2008 2009 2010 2011 2012

Coke Price in USD EBIT In Rs GNCL EBIT V/S Met Coke Price Our Earnings have been following the same trend as that of the global Met Coke Price 700.00 300.00 600.00 500.00 400.00 300.00 200.00 100.00 250.00 200.00 150.00 100.00 50.00 0.00 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 0.00 Coke Price EBIT

Jun-04 Sep-04 Dec-04 Mar- Jun-05 Sep-05 Dec-05 Mar- Jun-06 Sep-06 Dec-06 Mar- Jun-07 Sep-07 Dec-07 Mar- Jun-08 Sep-08 Dec-08 Mar- Jun-09 Sep-09 Dec-09 Mar- Jun-10 Sep-10 Dec-10 Mar- Jun-11 Sep-11 Dec-11 Mar- Jun-12 Sep-12 Historically volatile bonus adjusted share price of GNCL..And WE SHALL BOUNCE BACK. 200.00 180.00 160.00 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00 Price has shown positive volatility despite the 4-year old global crisis extending into Indian crisis over the last 2 years The CURRENT value of an investment of Rs 100 in GNCL stock on 1 st August 2000 is Rs 8376/- on market value and Rs 4423/- in terms of Dividend earned, hence making an impressive total of Rs 12800/- (approx)

Mar 08 Jun 08 Sep 08 Dec 08 Mar 09 Jun 09 Sep 09 Dec 09 Mar 10 Jun 10 Sep 10 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Mar 12 Jun 12 FII Holding in % GNCL SHare Price FII Holding has a direct impact on GNCL s share price movement & is another reason for volatility 40.00 35.00 30.00 25.00 20.00 15.00 10.00 5.00 0.00 160.00 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00 FII % Holding GNCL

2000-01 2001-02 2002-03 2003.-04 2004-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 Mar 01 Sep 01 Mar 02 Sep 02 Mar 03 Sep 03 Mar 04 Sep 04 Mar 05 Sep 05 Mar 06 Sep 06 Mar 07 Sep 07 Mar 08 Sep 08 Mar 09 Sep 09 Mar 10 Sep 10 Mar 11 Sep 11 Mar 12 Volatility is in our DNA Reflected more in quarterly profits than annual profits Every downturn followed by stronger uptrend 175.00 100.00 Quarterly Profit in Rs 25.00-50.00-125.00-200.00 200.00 Annual Profit in Rs 100.00 0.00

Recent Achievements Q1 2012 turnover highest in the history of GNCL Q1 2012 turnover higher by around 60% compared to the previous quarter (Q4 2011) and 600 500 400 300 200 21% over the same quarter last year (Q1 100 2011) 0 Turnover in Rs. Crore Q 1 2011 Q4 2011 Q1 2012

Recent Achievements Highest Q1 2012 coking coal production from Australian mines Q1 2012 coking coal production higher by 137% (2.6 times) than the same quarter previous year (Q1 2011) Sales increased by 35% in Q1 2012 (406 thousand tonnes) over Q1 2011 (300 thousand tonnes) 400 350 300 250 200 150 100 50 0 Coking Coal Production Q1 2011 Q1 2012 Longwall Development

CSR-Our deep rooted commitment Continuing the partnership with the Government of Gujarat for the upgradation of ITI Khambhaliya in a PPP model Instituting a centre of excellence Gujarat NRE Knowledge Application Facilitation Centre at CII, Ahmedabad (CII- Government of Gujarat initiative) Contributed towards providing safe drinking water, sanitation facilities in villages near the company s operations as well as support to the disadvantaged children towards primary as well as secondary education. Organized blood donation camps at regular intervals in its plants Provide transport facilities to enable children to attend school

Longwall mining commenced in NRE No1 mine Recent Achievements Both the mines now under longwall production (NRE No1 & NRE Wongawilli) Thank you! Longwall mining to increase production and productivity heralding of a new era of coking coal production in Gujarat NRE s coking coal mines in Australia Chairman and Managing Director Gujarat NRE Coke Limited Arun Kumar Jagatramka