INVESTOR PRESENTATION February 2019

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Vincent Morris
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1 INVESTOR PRESENTATION February

OUR JOURNEY SO FAR 1944 Founded Escorts 1948

for northern India 2003 End Collaboration

Tractors 2005 Divested from other business to

1971 Manufacturing Of Construction Equipment

$Agreement with Doosan Infracore Co.$

2 OUR JOURNEY SO FAR 1944 Founded Escorts 1948 Launch Escorts (Agri Machinery Ltd.) 1998 Launch Powertrac Brand of tractors 1954 Franchise of Massey Ferguson tractors for northern India 2003 End Collaboration with JCB 1969 JV with Ford motors to make Tractors 2005 Divested from other business to focus on tractors and construction equipment 1971 Manufacturing Of Construction Equipment 2010 Launch DIGMAX Brand of Backhoe 1979 Collaboration with JCB For backhoe 2016 Escorts Credit Partner with DLL for Financing Auto part Business Divested 1995 Launch Farmtrac End JV with Ford 2018 ~Distribution Agreement with Doosan Infracore Co. Limited ~JV with Tadano for high end cranes ~Strategic collaboration & Manufacturing JV with Kubota 2

3 VISION, MISSION & VALUES VISION TO BE AMONG TOP ENGINEERING COMPANIES IN INDIA Through the power of imagination in engineering we create solutions that help our customers be more productive. MISSION TO BE AN INTEGRATED SOLUTION PROVIDER To our customers by harnessing emerging future technologies and information to add value at every stage of customer need. CORE VALUES RESPECT FOR PEOPLE EMPOWERMENT TRANSPARENCY COLLABORATION STRATEGIC VALUES CUSTOMER CENTRICITY INNOVATION EXCELLENCE AGILITY

ESCORTS GROUP PURPOSE STATEMENT Planet Earth Country India

7 Billion People by 2050 43% more food required from current 2.

Food by 2025 World class infrastructure generating opportunity

investment of INR 8.5 Trillion over 5 years.

4 ESCORTS GROUP PURPOSE STATEMENT Planet Earth Country India Escorts Group Food Security for 9.7 Billion People by % more food required from current 2.1 bn. Tones Doubling Farmer Income by 2022 Food Security: 350 MT Food by 2025 World class infrastructure generating opportunity of US $ 5 Billion in CE World class rail network with Govt. investment of INR 8.5 Trillion over 5 years. Powering the Dreams of Farmers Preferred Partner in Nation Building Ensuring Safety and Comfort in Rail Transport 22 nd Feb 18

OUR CURRENT BUSINESSES Revenue FY18: Rs. 5,075.4 Cr. 9MFY19: Rs. 4,564.7 Cr.

agricultural productivity and add value to a farmer s life Revenue FY18: Rs. 3,957.9 Cr. 9MFY19: Rs. 3,513.1Cr.

1 Cr. RED s wide array of railway products aids the modernization of Indian Railways Revenue FY18: Rs. 286.6 Cr.

5 OUR CURRENT BUSINESSES Revenue FY18: Rs. 5,075.4 Cr. 9MFY19: Rs. 4,564.7 Cr. Escorts Agri Machinery Escorts Construction Equipment Railway Equipment Division EAM s advanced agri-machinery & crop solutions help enhance agricultural productivity and add value to a farmer s life Revenue FY18: Rs. 3,957.9 Cr. 9MFY19: Rs. 3,513.1Cr. ECE s vast range of construction & material handling equipment supports India s infrastructure growth Revenue FY18: Rs Cr. 9MFY19: Rs Cr. RED s wide array of railway products aids the modernization of Indian Railways Revenue FY18: Rs Cr. 9MFY19: Rs Cr. ESCORTS is one of India's leading engineering conglomerates and for over six decades it has helped accelerate India s socio-economic development through its presence across the high growth sectors of Agri-machinery, Construction & Material Handling Equipment and Railway Equipment.

MANUFACTURING FACILITIES Escorts Agri Machinery (EAM) Three

capacity of 100,000+ tractor p.a. Poland Plant: 100% subsidiary

50,000 capacity Manufacturing Plant under JV with Kubota Escorts

assembly facility sprawling 60,702 sq.m. of space with a capacity of 10,000 units p.

facility sprawling 55,609 sq.m. Couplers (AARH + Shaku )1100 p.a., Air Brake 4400 p.

6 MANUFACTURING FACILITIES Escorts Agri Machinery (EAM) Three Plants: Farmtrac, Powertrac & Components with a current production capacity of 100,000+ tractor p.a. Poland Plant: 100% subsidiary having an installed capacity of 2,500 tractor p.a. Setting up 50,000 capacity Manufacturing Plant under JV with Kubota Escorts Construction Equipment (ECE) State of the art manufacturing and assembly facility sprawling 60,702 sq.m. of space with a capacity of 10,000 units p.a. Railway Equipment Division (RED) State of the art manufacturing facility sprawling 55,609 sq.m. Couplers (AARH + Shaku )1100 p.a., Air Brake 4400 p.a., EP Brake 200 p.a., Brake Block: 32,000 p.a. 4

7 RECENT KEY INITIATIVES New partnership Kubota and Escorts Join hands for global leadership 1. Forms JV (60:40) to establish new common manufacturing with initial capacity of 50,000. These tractors will be sold by both respectively through their separate channel network in domestic market. 2. Kubota to export Escorts tractors through Kubota global distribution network in specific markets as mutually agreed. 3. Both companies to jointly develop new products to cater to India and Overseas market. JV with Tadano(51:49) for Specialized Products to address High End Category 20 to 80 Ton category High end Carnes- Rough Terrain and Truck Cranes EY appointed as Internal Auditors Corporate Governance: New directors introduced in order to create a more vibrant board. Culture Change: Young leaders leading new projects, with support of senior leaders. Strategic outsourcing: Non core activities are outsourced to strategic partners

8 SCORTS AGRI MACHINERY (EAM) 5

9 INDIA NEEDS MECHANIZATION RUSSIA 0.14 Bn (14.4%) 80% 121 mn ha mn/pa 4% of GDP USA 0.32 Bn (2.4%) 174 mn ha 1% of GDP 95% 0.2 mn/pa WESTERN EUROPE 0.39 Bn (3.9%)?? mn ha 5% of GDP 95% CHINA 1.37 Bn (65%) 103 mn ha 10% of GDP 48% 0.45 mn/pa COUNTRY Total population (Popl. Engaged in Agri.) Total arable land Agri-contribution to GDP % of farm mechanized Tractors sold per annum BRAZIL 0.35 mn/pa 0.20 Bn (14.8%) 80 mn ha 5% of GDP 75% 0.05 mn/pa INDIA 1.32 Bn (52%) 159 mn ha (47%) 14% of GDP 40% 0.7 mn/pa INDIA ADVANTAGES: Largest arable land in the world & Dual cropping 9

DOMESTIC TRACTOR INDUSTRY 729,629 Increasing Trend towards Mechanisation 580,982 Minimum Support Prices for Key Crops 176,404 Scarcity of Labour FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14

10 DOMESTIC TRACTOR INDUSTRY 729,629 Increasing Trend towards Mechanisation 580,982 Minimum Support Prices for Key Crops 176,404 Scarcity of Labour FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 Ease of Credit Availability from Govt. India is the largest manufacturer of farm equipment India accounts for nearly 1/3 rd of the overall tractor production globally 0.7 million units in FY18 and reach to approx million units by 2030 Customer exchange their tractor in every 4-6 years. 7

11 INDUSTRY SEGMENTATION Industry Segment Volume 180, , , , , , , ,908 53,100 54,092 67,606 57,678 32,572 41,139 53,117 45,576 < 30 HP HP HP > 50 HP FY16 FY17 FY18 9MFY19 Industry Segment Market Share in % 46.0% 48.9% 47.2% 47.5% 36.6% 34.7% 35.8% 36.0% 10.8% 9.3% 9.5% 9.2% 6.6% 7.1% 7.5% 7.3% < 30 HP HP HP > 50 HP FY16 FY17 FY18 9MFY19 8

12 EAM SEGMENTATION EAM Segment wise Volume in % 45.4% 40.6% 47.1% 49.3% 48.7% 53.1% 44.6% 43.8% 2.0% 1.8% 3.0% 3.2% 3.9% 4.5% 5.3% 3.7% < 30 HP HP HP > 50 HP FY16 FY17 FY18 9MFY19 EAM Segment wise Market Share in % 12.8% 12.6% 14.5% 15.1% 10.9% 11.7% 10.4% 10.2% 1.9% 2.1% 3.5% 3.8% 6.1% 6.9% 7.9% 5.6% < 30 HP HP HP > 50 HP FY16 FY17 FY18 9MFY19 9

13 HOW WE ARE POSITIONED Premium Economic FARMTRAC High (> 50 HP) (41-50 HP) Mkt.Size:52% Medium (31-40 HP) Mkt. Size:37% POWERTRAC Compact Tractor Low (< 30 HP) Mkt. Size:11% SteelTrac 10

14 BRAND LED PRODUCT INNOVATION <30 HP HP HP > 50 HP FARMTRAC Prestigious & Powerful & strong Brand Legacy Atom Series FarmTrac XP FarmTrac Classic FarmTrac Executive POWERTRAC Efficient & Superior In-House Engineering Steeltrac PowerTrac DS+ PowerTrac Euro PowerTrac Euro POWERTRAC-ALT PowerTrac ALT 3500 PowerTrac ALT

15 Share of Market DOMESTIC FY 22 MARKET SHARE ASPIRATIONS 15~16% ~11% FY18 FY19 FY20 FY21 FY22 TIME (YRS) 14

16 WINNING MARKET 1 Strong Market, Strong Brand 2 Strong Market, Weak Brand 3 Opportunity Market POWERTRAC FARMTRAC OPPORTUNITY MARKET LOW TIV Current 900+ Active Dealer Network 13

17 INGREDIENTS FOR GROWTH Product Portfolio Farmtrac: 52% 95% Powertrac: 74% 90% Steeltrac: 25% 75% Dual Distribution in Strong Market Strong Brand Coverage: 90 99% Weak Brand Coverage: 33 80% South/West Focus Channel Coverage: 55 80% Compact tractor Rice tractor Escorts Credit 10% Penetration 40% Scientific Sales Management Customer Centricity Care Button TRAXI ETC Mol Anmol 15

EXPORT MARKET SIZE & OPPORTUNITY Tractor Export from India In `000s 64 64 76 78 80 87 US MARKETS LATAM EUROPE SAARC AFRICA FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21

18 EXPORT MARKET SIZE & OPPORTUNITY Tractor Export from India In `000s US MARKETS LATAM EUROPE SAARC AFRICA FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Tractor Exports from India to grew by CARG 6~8% Main Market under 120 HP Tractors Hobby/Garden farming in Market (like USA) Targeting 8,000~10,000 Volumes by

19 SPARES ASPIRATIONS FY 22 SPARES REVENUE 9-11% ~8 % TRACTOR REVENUE FY(17-18) FY(21-22) 18

20 ENGINES ~4000 UNITS ENGINE SALES FY (17-18) 19

21 REVENUE ENGINES FY 22 ASPIRATION ~4x GROWTH FY (17-18) FY (21-22) TIME (YRS) 20

22 TRACTOR IS AS GOOD AS ITS ATTACHMENTS 21

23 REVENUE SHIP* BUSINESS TECHNOLOGY PRODUCT RANGE SUPPLY CHAIN DISTRIBUTION NETWORK SPRAYERS 10x HARVESTERS PLANTERS ESCORTS SHIP x IMPLEMENTS FY (17-18) FY (21-22) TIME (YRS) *SHIP = Sprayers, Harvesters, Implements & Planters Business 22

4,50 0.0 4,00 0.0 3,50 0.0 3,00 0.0 2,50 0.0 2,00 0.0 1,50 0.0 1,00 0.0 500.0-90, 000 80, 000 70, 000 60, 000 50, 000 40, 000 30, 000 20, 000 10, 000 0 16. 0% 14. 0% 12. 0% 10. 0% 8.0 % 6.0 % 4.0 % 2.

24 4, , , , , , , , , , , , , , , , , % 14. 0% 12. 0% 10. 0% 8.0 % 6.0 % 4.0 % 2.0 % 0.0 % % % % % % % % % % 5.0 0% 0.0 0% EAM JOURNEY SO FAR & ASPIRATIONS FORWARD SEGMENT REVENUE (Rs. Cr.) EBIT % 13.6% 14.4% 9.7% 10.3% 7.8% 8.2% 7.2% 3, , , , , , ,734.3 ASPIRATIONS 2022 To grew business 2x from FY17 base and achieve 14~15% EBIT Margin SY12 FY12-14** FY15 FY16 FY17 FY18 9MFY19 VOLUMES (Nos.) ROCE % 46.34% 40.48% 35.70% 32.00% 24.90% 21.40% 21.70% 80,417 60,673 68,963 59,779 63,786 71,276 51,455 Revenue Growth Initiatives EXPORT South & West penetration Emerging Business Cost Rationalization Raw Material Manpower cost SY12 FY12-14** FY15 FY16 FY17 FY18 9MFY19 ** Annualised Data 23

25 SCORTS CONSTRUCTION EQUIPMENT (ECE) 24

CONSTRUCTION EQUIPMENT SEGMENTS Material Handling &

7% INDUSTRY 2018 % Material processing 9.

Construction Material Processing Material Handling

26 CONSTRUCTION EQUIPMENT SEGMENTS Material Handling & Cranes 2.4% 4.7% 5.7% INDUSTRY 2018 % Material processing 9.6% Construction Equipment Earth Moving Equipment Concrete Equipment 77.7% Road Building Equipment Earth Moving Road Construction Material Processing Material Handling Concrete Equipment ECE present in 40 % Revenue Potential of the Construction Equipment Industry Strategic Partnership and Distribution Agreement make it to 80% in Value Terms 25

27 SEGMENTS APPLICATION & USERS Segment Major equipment types Application Segment User 1 Earthmoving Equipment A - Backhoe loader, B - Excavator, C - Wheeled loader Mining Roads Real Estate/Land Development Power Railways/Metros Small/ Individual 70% Medium fleet owners 20% Institutional/corporate 10% 2 Material Handling & Cranes Pick and Carry cranes Erection work in projects Power Steel Mining Railway/metros Government 5% Institutional/corporate 20% Medium fleet 20% Small / Individual 55% 3 Road building equipment Compactors, pavers, asphalt finishers Highways Rural roads Airports Land Reclamation Motor Graders Rental hirers 7% Contractors 76% Corporate Buyers 3% Govt Bodies 14% 4 Concrete equipment Mixers, pumps, batching plants Irrigation Canals Road construction Building construction Airports Precast/In situ 5 Material processing Compressors, Crushers Stone Quarries Mining Over ground blue metal crushing Source: ICEMA, Off-Highway Research, Escorts Data 26

28 SERVED INDUSTRY SEGMENTATION Served Industry Volume (Rounded to nearest Ten) 30,700 38,610 33,171 22,800 8,120 7,738 3,400 4,470 3,000 3,600 4,170 3,692 Backhoe Loader Cranes Compactors Served Industry category wise in % FY16 FY17 FY18 9MFY % 79.2% 75.8% 74.4% 11.6% 11.5% 16.0% 17.3% 10.1% 9.3% 8.2% 8.3% Backhoe Loader Cranes Compactors Source: ICEMA 27

29 PRODUCT PORTFOLIO 1) Material Handling 60% 2) Earth Moving 20% 3) Road Construction 10% % of ECE Revenue 5/22 28

MATERIAL HANDLING Joint Venture For High End

and expand Product Basket TRX/Safe Cranes 10 23T

Safe Crane and move the market upwards Hydra

40% 32% 33% 46% FY14 FY15 FY16 FY17 FY18 9MFY19

30 MATERIAL HANDLING Joint Venture For High End Cranes RT/ TC Slew 10-80T To build the segment and expand Product Basket TRX/Safe Cranes 10 23T Hydra Cranes 8 16T Continue Market Dominance in Safe Crane and move the market upwards Hydra F-15/ TRX Series 68% 60% 60% 68% 67% 54% 32% 40% 40% 32% 33% 46% FY14 FY15 FY16 FY17 FY18 9MFY19 Transform the market from a leadership position Product Split 29

900.0 800.0 700.0 600.0 500.0 400.0 300.0 200.0 100.0-5,0 00 4,5 00 4,0 00 3,5 00 3,0 00 2,5 00 2,0 00 1,5 00 1,0 00 500 0 1.2 1 0.8 0.6 0.4 0.2 0 3.0 % 2.0 % 1.0 % 0.0 % -1.0% -2.

2% FY12-14** FY15 FY16 FY17 FY18 9MFY19 VOLUMES (Nos.

31 ,0 00 4,5 00 4,0 00 3,5 00 3,0 00 2,5 00 2,0 00 1,5 00 1, % 2.0 % 1.0 % 0.0 % -1.0% -2.0% -3.0% -4.0% -5.0% -6.0% READY TO RIDE THE INDUSTRY BOOM SEGMENT REVENUE (Rs. Cr.) EBIT % % 2.2% % -4.2% -4.9% -5.2% FY12-14** FY15 FY16 FY17 FY18 9MFY19 VOLUMES (Nos.) ASPIRATION 2022 To grew business 3x from FY17 base and achieve High Single Digit EBIT Margin Strategic Tie ups Focus on Cost Reduction : Material Cost Focus on Export reach Enhancement 4,486 4,089 2,804 3,007 3,315 2,555 FY12-14** FY15 FY16 FY17 FY18 9MFY19 Channel Financing Dealership & Outlet reach expansion ** Annualised Data 31

32 RAILWAY EQUIPMENT DIVISION (RED) 32

Components Industry in the defined segment Major

33 ESCORTS RAILWAYS: MANUFACTURING SAFETY & COMFORT To achieve Leadership position in Indian Railways Components Industry in the defined segment Major Sourcing partner for global Rolling Stock OEMs & Operators 33

350.0 300.0 250.0 200.0 150.0 100.0 50.0-25. 0% 20. 0% 15. 0% 10. 0% 5.0 % 0.

34 % 20. 0% 15. 0% 10. 0% 5.0 % 0.0 % ON GROWTH TRACK YOY EBIT GROWTH of more than 25 % from FY15 CONSISTENT ORDER BOOK GROWTH More Than Rs. 450 Cr. as of Dec 18 SEGMENT REVENUE (Rs. Cr.) EBIT % Manpower Cost, Productivity Improvements Material Cost improvements New Product Revenue boost Building Strong Inhouse R&D % 9.5% % 9.9% % % FY12-14** FY15 FY16 FY17 FY18 9MFY19 ** Annualised Data 35

35 ASPIRATION X Strategic Tie-up & Inorganic Leveraging Core Strengths X ASPIRATION 2022 To grew business 4x from FY17 base and achieve 17~19 % EBIT Margin 36

36 GROUP FINANCIALS 37

37 % 12. 0% 10. 0% 8.0 % 6.0 % 4.0 % 2.0 % 0.0 % % 8.0 % 7.0 % 6.0 % 5.0 % 4.0 % 3.0 % 2.0 % 1.0 % 0.0 % KEY FINANCIAL METRICES REVENUE (Rs. Cr.) 4,194 3,986 3,439 4,168 5,016 4,565 Material Cost VA/VE % 71.7% 71.5% to continue further 67.9% 67.0% 66.9% 68.3% # # # FY12-14 * FY15 FY16 FY17 FY18 9MFY19 # # # FY12-14 FY15 FY16 FY17 FY18 9MFY19 EBITDA (Rs. Cr.) % 11.1% 11.9% PAT (Rs. Cr.) % 6.9% 8.0% 6.0% 4.0% 5.0% 8.0% 3.9% 1.9% 2.4% 3.8% # # # FY12-14* FY15 FY16 FY17 FY18 9MFY FY12-14* FY15 FY16 FY17 FY18 9MFY19 # From Continuing Operations * Annualised Data 38

38 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% 25% 20% 15% 10% 5% 0% KEY FINANCIAL METRICES EPS ( ) Including Treasury Shares EPS ( ) Excluding Treasury Shares DEBT EQUITY RATIO Higher Working Capital 0.08 FY16 FY17 FY18 9MFY19 FY16 FY17 FY18 9MFY19 # # # FY12-14* FY15 FY16 FY17 FY18 9MFY19 ROE % 14% 9% 8% 4% 5% 17% PAT ROCE (Cr) % 21% 12% 13% 8% 6% 23% FY12-14* FY15 FY16 FY17 FY18 9MFY19* FY12-14* FY15 FY16 FY17 FY18 9MFY19* # # # # From Continuing Operations * Annualised Data 39

39 CONSISTENT RATING UPGRADES Long Term Short Term LBBB- A3 LBBB A3+ LBBB+ A2 A- A1 A A1 A+ A1+ AA- A1+ (Rs. Cr.) *Nos. from FY to FY is as per IGAAP. *Finance Cost for FY is for 18 months FY FY FY FY FY FY M FY Term Loan WC Finance Cost External Credit Rating 40

40 SHAREHOLDING PATTERN 33.0% 30.2% 30.1% 31.4% 33.4% 27.0% 29.8% 29.8% 28.5% 26.5% 40.0% 40.1% 40.1% 40.1% 40.1% Dec'17 Mar'18 Jun'18 Sept'18 Dec'18 Promoters + Trust Institutions* Public * FPI/Financial Institutions/ Banks/Insurance Companies As of quarter ended 41

41 Aspiration By

42 REVENUE (Rs. Cr.) 2.5x FY17 Aspiration x 3x 4 x FY17 Aspiration 2022 FY17 Aspiration 2022 FY17 Aspiration

43 ASPIRATION X Revenue 10% Plus Margin 13~14% 25% - 30% 44

initiatives to strategically position it in the global arena Ms.

Sutanu Behuria, Independent Director A PHD in Economics from Southern Methodist University, Dallas, He is an IAS officer from 1976 batch.

Hardeep Singh, Director Chairman -Monitoring committee on minimum support price (Planning Commission) & Food security Task force (CII)

44 BOARD OF DIRECTORS Mr. Nikhil Nanda, Chairman & Managing Director Alumnus of Wharton Business School, Philadelphia Responsible for driving Escorts growth initiatives to strategically position it in the global arena Ms. Nitasha Nanda, Whole time Director An entrepreneur & experienced business leader, She manages the Escorts Securities Ltd. And Escorts Asset Management Ltd. She is on the board of directors of Seitz technologies, RNIS, Raksha TPA, Rimari India and Sun and Moon travels. Dr. Sutanu Behuria, Independent Director A PHD in Economics from Southern Methodist University, Dallas, He is an IAS officer from 1976 batch. He has served as secretary in the Dept. Of Fertilisers, National Disaster Management Authority and Dept. of Heavy Industry. Mr. Hardeep Singh, Director Chairman -Monitoring committee on minimum support price (Planning Commission) & Food security Task force (CII) He was the former executive chairman of Cargill South Asia and Amalgamated Plantations Pvt. Ltd Mr. D J Kakalia., Independent Director Partner in Mulla & Mulla & Craige, Blunt & Caroe, Advocates, Solicitors & Notaries Specializes in litigation for the power and manufacturing sector, representing and advising large Power Companies Director and member of various Board Committees in Aditya Birla Finance Limited, Reliance Broadcast Network Limited and Reliance Power Limited 45

Capital of Max India Limited She has also worked with leading Industry names like Future Group and PepsiCo in various

Mathur, Director An ACS and LLB by profession, He has more than 3 decades of experience in corporate law He has previously

45 BOARD OF DIRECTORS Mr. P.H. Ravikumar, Independent Director Founder MD & CEO of NCDEX He has worked with leading banks like ICICI Bank and Bank of India Mrs. Vibha Paul Rishi, Independent Director An Alumnus of FMS Delhi, She has been an Executive Director of Brand and Human Capital of Max India Limited She has also worked with leading Industry names like Future Group and PepsiCo in various leadership roles. Mr. G. B. Mathur, Director An ACS and LLB by profession, He has more than 3 decades of experience in corporate law He has previously worked with Chambal Fertilizers and Chemical Limited Mr. Ravi Narian, Independent Director MBA from the Wharton School of the University of Pennsylvania 34 years plus of experience in various professional capacities to reputed organisations all over India. Adviser at Advent International Corporation and National Stock Exchange of India (NSE) as Non-Executive Vice-Chairman He also serves as Vice-Chairman of World Federation of Exchanges. 46

& technology roadmap and driving business transformation through Business Process

Shenu Agarwal CEO, Escorts Agri Machinery 26 years of experience in domestic and

& marketing, new product development Mr.

development, manufacturing operations and technology transfers Mr.

46 MANAGAMENT TEAM Mr. Shailendra Agrawal Group Chief Operating Officer 35 years of experience in creating product & technology roadmap and driving business transformation through Business Process Re-engineering Mr. Shenu Agarwal CEO, Escorts Agri Machinery 26 years of experience in domestic and international sales and marketing, R&D and product development, strategy and project management Mr. Ajay Mandahr CEO, Escorts Construction Equipment 26 years of experience in operations, sales & marketing, new product development Mr. Dipankar Ghosh CEO, Railway Equipment Division 24 years of experience in product development, manufacturing operations and technology transfers Mr. Bharat Madan Group Chief Financial Officer & Corporate head 28 years plus of experience in financial accounting, audit, cash and capital management, forecasting and risk management, tax planning, financial modelling and analysis Amanppreet Singh Bhatia Group Head Human Resources 25 years experience in organizational transformation, creating performance-driven culture, building leadership pipeline, and managing employee relations 47

SAFE HARBOR Certain statements in this document include forward-looking comments and information concerning the company s plans and projections for the future, including estimates and assumptions

Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual

Escorts Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent

47 SAFE HARBOR Certain statements in this document include forward-looking comments and information concerning the company s plans and projections for the future, including estimates and assumptions with respect to economic, political, technological, weather, market acceptance and other factors that impact our businesses and customers. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Escorts Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. Contact Details Escorts Ltd. (CIN: L74899HR1944PLC039088) Corporate Centre 15/5 Mathura Road Faridabad Phone: investorrelation@escorts.co.in Bharat Madan (Group Chief Financial Officer) bharat.madan@escorts.co.in Prateek Singhal (Financial Analyst & Investor Relations) prateek.singhal@escorts.co.in 49

48 Thank You SCORTS 50

Strategic Announcement. 10 December 2018

Strategic Announcement. 10 December 2018 Strategic Announcement 10 December 2018 1 KUBOTA AND ESCORTS JOIN HANDS FOR GLOBAL LEADERSHIP Escorts Ltd & Kubota Corporation eyes at strong domestic and exports market share by entering in to a Global