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Investor Presentation – March 2018

2

Disclaimer

Certain words and statements in this communication concerning Sterlite Technologies Limited (“the Company”) and its prospects, and other statements relating tothe Company’s expected financial position, business strategy, the future development of the Company’s operations and the general economy in India & globalmarkets, are forward looking statements.

Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Company, orindustry results, to differ materially from those expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in whichthe Company will operate in the future.

The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others,changes in government policies or regulations of India and, in particular, changes relating to the administration of the Company’s industry, and changes in generaleconomic, business and credit conditions in India.

The information contained in this presentation is only current as of its date and has not been independently verified. No express or implied representation orwarranty is made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this presentation.None of the Company or any of its affiliates, advisers or representatives accepts any liability whatsoever for any loss howsoever arising from any informationpresented or contained in this presentation. Please note that the past performance of the Company is not, and should not be considered as, indicative of futureresults. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this presentation.Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of theCompany.

The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any person of such revision orchanges.

Persons should consult their own financial or tax adviser if in doubt about the treatment of the transaction for themselves

These materials are confidential, are being given solely for your information and for your use, and may not be copied, reproduced or redistributed to any other personin any manner. The distribution of this presentation in certain jurisdictions may be restricted by law. Accordingly, any persons in possession of this presentation shouldinform themselves about and observe any such restrictions

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Contents

Topic Page No.

Sterlite Tech Overview 4

Industry Dynamics 9

Products Business 21

Services & Software Business 24

Financials 28

Strategic Direction 35

Appendix 42

4

Sterlite Tech Overview

5

Sterlite Tech Designs, Builds and Manages Smarter Networks

RURALBROADBAND

LARGE ENTERPRISESe.g. DEFENCE

GLOBAL SERVICEPROVIDERS

CUSTOMERS

TELECOMSOFTWARE

SYSTEMINTEGRATIONSERVICES

OPTICALPRODUCTSOFFERINGS

DESIGN, BUILD AND MANAGE SMARTER NETWORKSBUSINESS

SMART CITIES

6

Uniquely Positioned to Deliver Smarter Networks

SILICONTo SOFTWARE

Software

System Integration

Fiber Cables

Optical Fibre

Glass Preform

Silicon

The only company in the world to have

integrated silicon to software capability

Translating to Industry Best Margin Profile

7

With Technology at the Core of Our Offerings

focused on material science and Glass composition for advanced fiber optics

Building Fiber systems networks: 5G, Pre-connected Solutions for FTTx, IBS/DAS/ Wifi kits

trained for advanced fiber deployment rollout in Sterlite Tech Academy

and global research institutions

State of art research

Advance technologies for next generation

Sterlite Certified Fiber Installers

Partnership with academia

Centre of Excellence, Aurangabad Centre for Smarter Networks, Gurgaon Sterlite Tech Academy

8

Sterlite Tech Overview

3 manufacturing locations – India , China and Brazil and 2 software delivery centers

Total 169 patents across USA, EU, India, and China and growing

$405M FY17 consolidated net revenues and $85M of consolidated EBITDA

8 of the global top 10 telecom operators use Sterlite’s innovative solutions

37% of FY17 consolidated net revenues comes from international markets

With close to 2200 full time employees

Note: Financial numbers are in Ind-AS. 1 USD = 64INR

9

Industry Dynamics

10

We have already entered the ZettaByte Era

ZOOMING Traffic

Sources: Ericsson, BCG and Cisco reports

1 ZB = 1021bytes

In 2009, the WWW was ½ ZBTraffic was just 0.2 ZB

more

USERS

more

DEVICES

more

DATAPER USER

more

APPS

2021

Keeps Growing

at 26%

Global IP traffic

in Zettabytes

2011 2016

Crossed

1 ZB in 2016

1.06

11

of the Population will be using the Internet

up from 44% in 2016

58%of the traffic per month, per user

up from 24 GB in 2016

61 GB

networked devices and connection per person

up from 2.3 in 2016

3.5

of all Internet traffic will be video

up from 67% in 2016

80%average broadband speed

up from 28 Mbps in 2016

53 Mbps

average mobile Speed

up from 7 Mbps in 2016

20 Mbps

Source: Cisco

Data Consumption Trends – Roadmap to 2021

12

Platforms Driving Data Consumption Trends

5GThe Future of the

EnterpriseSmart Cities

IoT is disrupting the physical world

Smart Energy

Smart Mobility

Smart Water

Smart Public Services

Smart Buildings

Smart Data Center

Smart Integration

Cognitive Analytics

Embedded

sensors

Product

Lifecycle

Management

Pervasive

Connectivity

Cloud

computing

Community-Centric Open Collaboration

Sharing Economy Enterprise App Stores

Wearables On-Demand Micro Factories

(3D printing)

13

New Technologies driving Hyper-Connected Data Networks

Source: GSMA, Company estimates

Bandwidth

<1 Mbps 100 Mbps >1 Gbps

1000 ms

10 ms

1 ms

100 ms

10 Mbps1 Mbps

Wireless Cloud

based Office

Tactile Internet

Augmented Reality

Autonomous Driving

Video Streaming

Virtual Reality

Personal Cloud

Disaster AlertReal Time Gaming

On the Go ( Fully Mobile) Nomadic ( Fixed Access with Limited Mobility)

Del

ay

ULTRA LOW

LATENCY

HYPER

CONNECTIVITY

Cloud Computing

14

Fiber at the Core of Networks

15

With each network generation, fiber is getting closer to the users

4G Era3G Era2G Era 5G + FTTH Era

Fibre is connecting:

Major cities

most cities, towns, sub-urban areas

between towers, as backhaul

small cells, buildings, homes

Being

deployed by:Conventional Telcos CSPs / DSPs OTTs and Content Players

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Technology Evolution Driving Fiber Growth

100.063.0

14.70.5

4G- LTE & FTTH

Mobile 3G - WCDMA

/ HSPA

10000.0

5G NetworkMobile 3G -CDMA2000

/ EV-DO

Mobile 2G-GSM / GPRS

Peak Data Rate -Mbps

Source: Qualcomm, CRU & Company estimates

781 Mn fkm

2,521 Mn fkm

4G Generation & FTTH-Cumulative Fiber deployed:

CY 2010 to 2017

3G Generation Networks-Cumulative Fiber deployed: :

CY 2002 to 2009

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5G Requires Deeper & Denser Fiber

Source: ITU & Nomura Research

30 ~ 50 ms

Latency

1 ms

E2E Latency

4G

/LTE

5G

Gap 30x - 50x

100 Mbps

Throughput

10Gps

Per Connection

100x

10k

Connections

10,000kConnectionsPer Sq. Km

100x

350km/h

Mobility

500km/hHigh Speed Railway

1.5x

Inflexible

Network Architecture

LINPAbilityRequired

NFV/SDN

2017 202020192018

Global 5G Timeline

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Global Fiber Consumption

(mfkm)

Global Annual IP traffic

(Exabytes)

CAGR: 36%CAGR: 17%

More

Fibre

More

Data

Growth in data consumption is closely linked with growth in Optical Fibre consumption

Source: Cisco VNI report and CRU data

0

200

400

600

800

1000

1200

1400

1600

0

50

100

150

200

250

300

350

400

450

500

CY06 CY07 CY08 CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17

19

Global Demand for Optical Fiber Continues to Reflect Strong Annual Growth

Continuous growth of data driven by network evolution and changing consumption pattern reflecting strong demand for Fiber

Globally ~3.5bn kilometre cumulative fiber already deployed in the networks; replacement lifecycles building in

Optical Fiber Demand ( Mn fkm )

35 38 40 45 53 58 63 69 72 72 78

4280 87

99121

132

156

216243

277

2024

2025

30

2932

40

40

43

48

2426

2424

32

3228

33

38

51

58

3224

20 21

3323

23

79

CY 2007

96

1593

CY 2005

317

18

139

173

CY 2006 CY 2008 CY 2009

119

12

429

382

CY 2012CY 2011

4

CY 2014

481

263

CY 2016

6

+17%

16

CY 2017

7

314

15

CY 2013

9

CY 2015

218

CY 2010

188

75

246

North America

China

Others

India

Europe

Source: CRU Data

Cumulative Global Fiber Consumption: From 1999 to 2017

3,549

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Dense Networks

Limitless and Secure Storage

Edge Computing

Open Source

SolutionsBig Data Analytics

Cloud Platforms and NFV

Hyper

Connectivity

Ultra Low Latency

Cyber Security

Network

Efficiency

Longevity

Traceability

Flexibility

Smarter

Networks

Deep Learning /

Personalisation

Customer

Experience

Omni Channel Digital Services

Not Just more FiberBut Fiber with Solutions are making Smarter Networks

FibreSmarter

NetworksSolutions

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Product Business

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Fully Integrated Manufacturing Operations

Raw materials

• Silicon & Power

• Certain natural gases

Preform

• Integrated Core rod + cladding

Optic fiber

• 30m fkmCapacity

• Expanding capacity to 50m fkm by June 2019

OF cable

• 15m fkmCapacity

• Portfolio catering to diverse end use

High end technology, fully integrated, global scale operations for manufacturing optical fibers

Center of Excellence, Aurangabad

New Technology world’s biggest Glass Preform: 7000kms, >200kg

23

Scaling Product Business

New OF plant located in Aurangabad, Maharashtra (India)

Integrated plant project progressing well to achieve phased capacity ramp-up (CY 18 – partial capacity & June ’18 – full capacity)

Cabling volumes reflecting an upward trend from demand perspective

50

3028

22

12

Mar ’12 Jun ’19Mar ’17 Sep ’17Mar ’16

Sterlite Tech Optical Fibre Capacity ( Mn fkm)

FY 17

40%

85 - 100%

60 - 65%

FY 18 FY 19

Optical Fibre Cable Capacity Utilization

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Services & Software Business

25

Turnkey delivery of some of the largest interstate network infrastructure projects in India – 10,000 Km of defence network in toughest terrains

Successfully deployed India’s first live Smart Services City in Gandhinagar (Gujarat)

INTEGRATED

TELECOMSERVICES

Service roll-outs begun for Tier one operators in India

As networks grow deeper, there are services opportunities to implement Smarter Networks

Defense/Other Utilities

Service Providers

Rural Broadband

Smart Cities

23,500

15,020

14,008

19,474

>INR 72,000 CrAddressableopportunities

in India

India Opportunity (INR Cr): 2018 - 2020

26

System of Records

Core Network: Transmission Engineering

Passive: Fiber Network Design - Products and Solutions

System of Engagement

Radio Access Network: Topology Design

Future Network Stack

Network Management

Digital Customer Management

Marketing

Service ManagementData Management

End to End Capability to Design, Build & Manage Data Networks for Telcos, Smart Cities, Rural Broadband & Defence

Software & Solutions Layer

Network Layer

Physical Layer

Sterlite Tech is engaged in end to end data network creation

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2015 2017

Scaling Services & Software Business

Smart city orders are becoming larger in size and scope with integrated offerings

Silicon to Software and Server Capabilities will be executed in upcoming Smart Cities Projects; Ex. Kakinada Smart City Project

2016

• Govt. announces list of first 20 smart cities

• Sterlite Technologies bags its 1st Smart city order from Gandhinagar in March. Successfully completed the entire project in December

• 2nd Smart city order win with ‘Jaipur Smart City Phase – II’ Project.

• Govt announces list of second 27 smart cities

• 3rd Smart city order win with Ahmedabad Smart City’s project:-Janmarg Ltd

• 100 Smart Cities Mission launched by the Govt. of India

• Sterlite completed Jaipur smart city project

• Govt announced list of third 30 smart cities

• Sterlite wins Kakinada Smart City order

• Kakinada project under executionNetwork Solutions

• Integrated Design, Build and Management of Secure Network for Indian Army, reflecting capabilities in Designing and Rollout of Network in Toughest Part of India

• Scaling offering to Private Telcos: executing POC in MP

28

Financials

29

• Stronger growth in EBITDA CAGR growth at 38%

• ROCE for the business stands at 29% for 9M FY18

405355

253179171

FY 14 FY 15 FY17FY 16FY 13

+24% 8574

54

2824

FY17FY 16FY 15FY 14FY 13

+38%

605539

1514

FY17

+44%

FY 14 FY 16FY 15FY 13

EBITDA (m USD)

EBIT (m USD)

Revenue (m USD)

FY17FY 16FY 14 FY 15FY 13

20%

7% 8%

18%21%

ROCE

9M FY 18

369

86

9M FY 18

66

9M FY 18 9M FY 18

29%

5 Year Performance- Telecom Business

Values in Mn USD. 1 USD = 64 INR

30

131122116110114

Q3 FY17 Q2 FY 18 Q3 FY 18

+14%

Q1 FY 18Q4 FY17

3328

262623

Q4 FY17Q3 FY17 Q1 FY 18 Q3 FY 18

+44%

Q2 FY 18

Quarterly Financial Performance

14

111010

8

Q2 FY 18Q4 FY17Q3 FY17 Q1 FY 18 Q3 FY 18

+83%

EBITDA (m USD)

Highest ever EBITDA of more than 30 m USD

83% YoY growth in bottom line

Strong QoQ and YoY growth in Revenue, EBITDA and PAT

PAT (m USD)

Revenue (m USD)

Note: In accordance with the requirements of Ind AS, revenue for the quarter ended September 2017 is net of Goods and Services Tax ('GST'). However, revenues for all the previous quarters are inclusive of excise duty Values in m USD. 1USD = 64 INR

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Financial Performance: Income Statement & Balance Sheet

P&L FY17 9M FY18

Revenue 405 369

EBIDTA 85 86

EBITDA % 21% 23%

Depreciation 25 20

EBIT 60 66

EBIT % 15% 18%

Interest 19 12

PBT 41 54

Tax 6 15

PAT (After Minority

Interest)31 35

ROCE (Pre Tax) 21% 29%

ROE (Post Tax) 23% 27%

Balance sheet As on 31st Mar, 2017 As on 30th Sep, 2017

Net Worth 145 162

Net Debt 144 122

Total 288 285

Fixed Assets 193 200

Net Working Capital 95 85

Total 288 285

Values in m USD. 1 USD = 64 INR

32

Financial Performance: Cash Flows

Cash flow 9M FY18

Cash Profit ( After Tax ) 59

Operating Cash Flow 57

Capex 45

Net Cash flow 13

0.8x

As on 31st Dec ’16

As on 31st Dec ’17

1.2x

-35%

Debt to Equity Ratio

138

161

-14%

As on 31st Dec ’17

As on 31st Dec ’16

Net Debt

Values in m USD. 1USD = 64 INR.

33

International Revenue Profile

7%

19%

11%

63%

India China RoWEurope

Global Revenue Mix

9M FY18

FY17

13%

26%

13%

48%

*Rest-of-the-World majorly constitutes of Americas and MEA

85

150

FY 16

24% of Total Revenues

FY 17

+75%

37% of Total Revenues

9M FY 18

52% of Total Revenues

191

Revenue from exports (m USD)

34

Strong sales outlook riding on substantially built order book

242 231 234 233 209

176 241 256366

506

Q3FY18

418

Q1FY18

491

+71%

Q4FY17

715

Q3FY17

599

Q2FY18

472

Services & SoftwareProducts

• Increasing Order book reflects predictable outlook for the company

Order Book Mix

Numbers are in Ind-As, Values in m USD. 1USD =64INR

35

Strategic Direction

36

OFbusiness

Glass/Pre-Form Technology:

OFC businessApplication Engineering

Services,Software

Solutions business

GROW

Add new products

GROW

Value AddNew Markets

EXCELIn Execution

Roadmap: GROW 3 TIMES IN 3 YEARS

Reach

$ 100 MnIn Net Income

by FY20

3 Years

3X Growth

37

Balanced Approach to drive Shareholders Value

Defined principles for Inorganic Growth:

Capability addition

Integrated Solutions with focused customer base

Focus on Technology & Research:

Increasing patent portfolio

Expanding ROCEfor the business > 20%

Consistent Returns to the Shareholders:

30% of PAT as dividend

Approach

38

Creating Shared Value

Total lives impacted

458,000+ HEALTH

ENVIRONMENT

WOMEN EMPOWERMENT

EDUCATION

Covered almost 200,000 patients since inception

9332 patients attended to in FY 2017-18

172,000 students covered since inception and 89958 during FY 2017-19

480 schools covered in 2017-18

Classes 3 to 7 and 10 covered by the

program

409 farmers impacted through Phase II of Project Jaldoot and a total of 867 since 2016

94188 cu. m of water conserved in 2017 and a total of 738,188 m3

8 check dams in 5 villages redeveloped in 2017

218 women trained at the institute in FY 2017-18 and a total of 539 till date

93 villages covered till date

28,000 villagers indirectly impacted

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Strong corporate governance

A. R. Narayanaswamy(Non-Executive & Independent Director) Chartered Accountant & Management Consultant with over 35

years of industry experience Member of The Institute of Chartered Accountants of India Provides consulting services in accounting, financial management

and information technology across several industry verticals

Arun Todarwal(Non-Executive & Independent Director) Partner of Todarwal & Todarwal, a Mumbai based firm of Chartered

Accountants Member of The Institute of Chartered Accountants of India Has rich and varied experience spanning over three decades in

management consultancy, finance and audit

Avaantika Kakkar(Non-Executive & Independent Director) Corporate and commercial lawyer Currently Partner and Co-head of the Competition/Anti-trust law

practice of Khaitan & Co. Has significant experience with structured finance, foreign direct

investment in real estate, private equity and on-market & off market acquisition transactions and joint ventures

Sandip Das(Non-Executive & Independent Director) One of Asia’s most respected telecommunications professionals and

an acclaimed Chief Executive Ex-MD of Reliance Jio, Group-CEO, Maxis Communications and

Hutchison Essar Telecom (now Vodafone), India One of the founding members of private telephony in India and was

part of the group of individuals that founded Hutchison Max Telecom in 1994

Independent Directors in the Board of Sterlite Tech

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Sterlite Tech is well placed to strengthen its leadership position in new age digital infrastructure creation

Data Broadband networks focused technology play

High ROCE & ROE business profile

Focused on Customers & Stakeholders value creation

Geographic, customer and business diversification provides natural hedge to business

Business model evolution to offer high future cash flow predictability

Key Takeaways

41

Corporate structure & Shareholding Pattern

Corporate structure Shareholding pattern

Source: Company information; Karvy Shareholding Services; Data as of Jan 23, 2018

Volcan investments

Sterlite Technologies Limited

Brazil JV China JV

58.0% 75.0%

53.4%

45.9%

Vedanta Resources Plc.

Public shareholders

69.7% 22.1%

54.1%15.6%

8.2%

Other Institutional Holders

FII Retail

Promoters & promoter group

42

Thank You