Cipla Ltd. — Investor Presentation 2018

Nov 5, 2018

051 h November, 2018

• (1) BSE Ltd Listing Department, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001
• (2) National Stock Exchange of India Ltd Listing Department Exchange Plaza, 51 h floor, Plot no. C/1, G Block, Sandra Kurla Complex, Sandra (East), Mumbai- 400 051

Scrip Code: 500087

Scrip Code: CIPLA EQ

(3) SOCIETE DE LA BOURSE DE LUXEMBOURG Societe Anonyme 35A Boulevard Joseph II, L-1840 Luxembourg

Dear Sir/Madam,

Please find enclosed investor presentation dated 05^{1 h}November, 2018.

Kindly acknowledge the receipt.

Thanking you,

Yours faithfully, For Cipla Limited

Rajendra Chopra Company Secretary

Encl: as above

Prepared by: Ash ish Chauhan

Investor Presentation Q2FY19

05-11-2018

Disclaimer

Except for the historical information contained herein, statements in this presentation and the subsequent discussions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, our ability to obtain regulatory approvals, technological changes, fluctuation in earnings, foreign exchange rates, our ability to manage international operations and exports, our exposure to market risks as well as other risks. Cipla Limited does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

Information relating to any medical products or medical devices contained herein is provided by Cipla for general information purposes only. Information on any of the medical products or medical devices may vary from country-to-country. A reference to a medical product or a medical device does not imply that such medical product or medical device is available in your country. The commercial availability of the medical products or medical devices listed herein in your country is dependent on the validity and status of existing patents and/or marketing authorizations related to each. An independent enquiry regarding the availability of each medical products or medical device should be made for each individual country

The product information contained herein is not intended to provide complete medical information, and is not intended to be used as an alternative to consulting with qualified doctors or health care professionals.

Nothing contained herein should be construed as giving of advice or the making of a recommendation and it should not be relied on as the basis for any decision or action. It is important to only rely on the advice of a health care professional

Update on our key FY19 priorities and challenges

Key Priorities

1	India: Growth & Therapy Strengthening1	2	US: Launches & Ramp-up	3	US Filings Ramp-up
	Strong market beating performance across key therapeutic areas #4 ranked now in Cardiology		7 approvals in Q2 including Atazanavir, Diclofenac gel and Albendazole		5 ANDAs filed in Q2 On-track for 20+ ANDA filings in FY19
4	South Africa: Growth	5	Quality & Compliance	6	Challenges
	14%2 Cipla vs 5% market growth rd 3 Largest Pharma		Inspections at Medispray (No observations) and		Operational challenges around supply and capacity balancing impacted serviceability

1 IQVIA (IMS) Q2'18| 2 IQVIA (IMS) MAT Aug'18 | 3 As per IQVIA (IMS) YTD Aug'18

Financial Performance – Q2FY19

1 Others: Includes CNV business, Vet and others; SAGA includes South Africa, Sub-Saharan Africa and Cipla Global Access; Percentages have been rounded-off

EBITDA Build-up

INR Cr	Q2FY19	Q2FY18	Q1FY19
Profit Before Tax	509	573	620
Add:
Finance Costs	44	42	35
Depreciation Amortisation impairment Expense & ,	282	302	241
Less:
Finance investment Divestitures related income & ,	82	113	170
EBITDA	753	804	726
% to Sales EBITDA	18 8%	19 7%	18 4%

India (Rx + Gx) Sales

North America: Ramp-up across key DTM launches drives quarterly growth with strong improvement in margins

Investor Presentation: Q2FY19

SAGA* : South Africa, Sub-Saharan Africa and Cipla Global

Key Business Highlights¹

• As per IQVIA (IMS) MAT Aug'18, South Africa business grew at more than double the market at 14% in the private market vs 5% market growth
• As per YTD Aug IQVIA (IMS) data, Cipla became the 3rd largest pharma company in SA private market with 6.3% share
• Closed the Mirren acquisition; working towards successfully integrating the business and driving synergies in fast-growing OTC space
• Successful IPO and listing of Cipla's subsidiary CiplaQCIL on the Uganda Stock Exchange 1 IQVIA (IMS) MAT Aug'18 *Financial numbers are rounded off

EM, Europe and API

• Biosimilars franchise in the EM: Late stage discussions on-going for various key biosimilar assets across multiple markets
• Signed a commercializing deal for Bevacizumab in Sri Lanka and Nepal.
• Inaugurated Cipla Maroc facility

• Business continues to operate with strong profitability profile
• FPSM (Fluticasone propionate / Salmeterol) launched in Italy with substitutability status

• Continued momentum in seedings and lock-ins across various markets
• In H1, over 30% of the sales were in the US – largest share amongst all regions

Emerging Challenges

Sanctions to impact reported performance in certain parts of the business

Capacity balancing: Currently engaged in capacity balancing in certain specific categories at our plants which will have a short-term impact

Commodity & Crude prices inflation and escalation in China sourced supplies will continue for the next 2 quarters

Pressure on Tender businesses across markets

Thank you

Registered Office :

Cipla Limited, Cipla House, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400 013

For any queries, please contact Naveen Bansal Investor.Relations@cipla.com

For more information please visit www.cipla.com