1. Lupin Investor Presentation Q1FY14

2. Vision: To be an innovation led transnational company

3. Safe harbor statement Materials and information provided during this presentation may contain ‘forward-looking statements’. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties which could cause actual outcomes and results to differ materially from these statements. Risks and uncertainties include general industry and market conditions, and general domestic and international economic conditions such as interest rate and currency exchange fluctuations. Risks and uncertainties particularly apply with respect to product-related forward-looking statements. Product risks and uncertainties include, but are not limited, to technological advances and patents attained by competitors, challenges inherent in new product development, including completion of clinical trials; claims and concerns about product safety and efficacy; obtaining regulatory approvals; domestic and foreign healthcare reforms; trends toward managed care and healthcare cost containment, and governmental laws and regulations affecting domestic and foreign operations. Also, for products that are approved, there are manufacturing and marketing risks and uncertainties, which include, but are not limited, to inability to build production capacity to meet demand, unavailability of raw materials, and failure to gain market acceptance. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

4. Lupin today Conversion rate: USD = INR 54.30  8 th largest Market Cap amongst Global Generic Companies ~$5.7 billion  Revenues > $ 1.74 billion  Top 4 Pharmaceutical company in India  Secular growth across the geographies  Onshore presence in 10 countries (significant presence across 4 countries)  R&D expenditure @ 7.5% of net sales  Vertically integrated  12 manufacturing sites (5 US FDA approved) (2 sites in Japan)

5. Awards & accolades  NDTV Business Leadership Awards - Pharma Company of the Year 2012  Lupin was ranked amongst top 2 pharma companies in the Great Place to Work survey ‘Best Companies to work for 2013, India’ and amongst the Top 50 companies overall  NSE included Lupin in the S&P CNX NIFTY index  Ernst & Young Entrepreneur of the Year 2011, for Life Sciences and Health Care: Dr Desh Bandhu Gupta  Ernst & Young Family Business Award 2012: Ms. Vinita Gupta  CVS Caremark Supplier Partner Award winner - Pharmacy Category for 2012

6.  Evolved into a multinational company with >70 % of turnover from outside India ► 4 th largest pharma company in India ► 5 th largest and fastest growing generic player in the US by prescriptions ► 7 th largest and the fastest growing generic player in Japan Net Sales - CAGR 27%EBITDA - CAGR 29% Consistent track record of growth Figures in Rs. m

7. Profit & shareholder returns Net profit - CAGR 26% Figures in Rs. m

8. Major markets (Net sales) Geographical breakup Sales break up US sales split Business Mix – FY13

9. Q1FY14 performance

10. Corporate Highlights Q1FY14  Continued investment for growth Capital expenditure at Rs. 1,089 m Revenue expenditure on R&D 8.1% of net sales at Rs. 1,956 m Filed 1 ANDA & received 8 approvals  Consistent performance: Net sales grew by 9% to Rs. 24,207 m during Q1FY14 PBT grew by 53% to Rs. 6,226 m during Q1FY14 US & Europe business (including IP) grew by 29% South Africa grew by 13% 9% 44% 43%

11. Major markets (Net sales) Geographical breakup Sales break up US sales split Business Mix – Q1FY14

12. Business update

13. Net sales (Rs. m) United States & Europe  US & Europe business grew 29% to Rs. 10,994 m in Q1FY14 from Rs. 8,497 in Q1FY13  Brand business contributed 11% to US sales, while generics contributed 89%  Europe contributed 3% to overall sales  Received 8 approvals during the quarter  4 products launched during the quarter  Current product portfolio of 52 products  No. 1 market share in 25 products & Top 3 market share in 40 products 29%

14. India  Q1FY14 India formulations sales stands at Rs. 5,894 m  8 th largest Indian company in domestic market **  Launched 11 new products during the quarter  Field force strength ~5,400 no.’s  Entered into strategic partnership with MSD to co – market MSD’s PPV in India ** Source : (IMS MAT Jun 13)

15. Net Sales (JPY m) Japan  Q1FY14 Japan sales stands at Rs. 2,923 m  Strong presence in CNS, CVS, GI and Respiratory segments  New packaging facility at Sanda complete  Focus on improving I’rom overall business quality  5 New products launched  Formulation approvals received for 3 site transfer projects from Goa  2 APIs commercialized from Tarapur

16. South Africa  5 th largest Generic Pharma company  # 1 CVS player in South Africa  2 products registered during the quarter  5 new products launched during the quarter Australia  5 new products launched during the quarter Philippines  Ranked 33 rd as per IMS MAT May 2013  Growth of 11% vs. industry growth at 3%  Launched Metered Dose Inhaler during the quarter  Ranked 36 th as per IMS MAT Nov 2012  Growth of 21% vs. industry growth at 4% South Africa, Philippines, Australia

17.  Cost, quality and reliability are the cornerstones of our API strategy  Strategic input into formulations business  Global leadership in chosen therapies ► Cephs ► Ceph-intermediates ► Anti-TB range  Achieved global cost, capacity and market share leadership in most products API and intermediates

18. Globally Integrated Research & Manufacturing network Nagpur

19. R&D R&D spends (Rs. m)  Total expenditure Rs. 1,956 m, 8.1% of net sales  Talent pool of 1200+ scientists  177 ANDA filings, of which 86 have been approved by the U.S. FDA  Filed 1 ANDA & received 8 approvals during the quarter  Increased focus on F2F (25 filings in pipeline)  NDDD: ► Pipeline of 10 programs in various phases of drug discovery  Bio-similars: ► Approval received for GCSF (Filgrastim) ► Pipeline of 10 drugs in various phases of development 7,098

20. Highlights  Capex of Rs. 1,089 m during Q1FY14  Successful inspections of plants by various regulatory agencies without critical observations:  USFDA : Tarapur, Dabhasa, Indore & Aurangabad (Zero 483 in all inspections)  MHRA : Indore, Mandideep  TGA : Mandideep  ANVISA: Ankleshwar, Tarapur  MCC: Aurangabad  Frost & Sullivan in association with The Economic Times conferred “Manufacturing Excellence Award”  Supply chain initiative rolled out to efficiently meet global scale up & complexity challenges Capabilities  10 manufacturing locations (2 in Japan) housing 12 sites ► 5 API sites ► 7 formulation sites  5 FDA inspected sites  Manufacturing capabilities across tablets, capsules, liquids, injectables and MDIs  Combined capacity of ~ 20b dosage units  Mihan formulation site for US being commissioned Sep’13  OCs launched in U.S. market from Indore  Investments in - ophthalmology, derma and inhalers Globally integrated supply chain

21. Disruptive costs Supply chain efficiency Geographical expansion Brands Platform technologies Leadership pipeline & capability building Sustainability initiatives (people, planet & profitability) Growth Levers & Enablers Healthy pipeline Value added generics Specialties NDDR program

22. Thank You