Cummins India Ltd. — AGM Information 2021

Aug 12, 2021

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Ref: STEX/SECT/2021

August 12, 2021

The Relationship Manager, National Stock Exchange of India Limited DCS-CRD (NSE), BSE Limited (BSE), Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Plot No. C/1, G Block, Dalal Street, Fort, Bandra – Kurla Complex, Mumbai 400 001 Bandra (East), Mumbai 400 051 BSE Scrip Code: 500480 NSE Symbol: CUMMINSIND

Subject: Intimation of presentation given by the Managing Director at the 60[th] Annual General Meeting of the members of Cummins India Limited (‘Company')

Dear Sir/ Madam,

With reference to our intimation dated July 16, 2021 towards Annual General Meeting, we are enclosing for your records copy of the presentation made by the Managing Director to the Members at the 60[th] Annual General Meeting of the Company held on Thursday, August 12, 2021.

Kindly take this intimation on your record.

Thanking you,

Yours faithfully, For Cummins India Limited

Digitally signed by VINAYA VINAYA ABHIJIT JOSHI ABHIJIT JOSHI Date: 2021.08.12 19:28:49 +05'30'

Vinaya A. Joshi Company Secretary & Compliance Officer Encl: as above

(This letter is digitally signed)

Cummins India Limited Registered Office Cummins India Office Campus Tower A, 5[th] Floor, Survey No. 21, Balewadi Pune 411 045 Maharashtra, India Phone +91 20 67067000 Fax +91 20 67067015 cumminsindia.com cil.investors@cummins.com

CIN : L29112PN1962PLC012276

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Cummins India Limited (CIL) - 60[th] Annual General Meeting

Ashwath Ram, Managing Director, Cummins India Limited

August 12, 2021

Public

AGENDA

01

Cummins India Overview

02 Cummins Inc. - Key Highlights and Financial Performance 03 Impact of COVID-19. Our Response. 04 CIL- Key Highlights and Financial Performance 05 The Future. Our Growth Strategy

2

3

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Cummins India Limited Overview
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Cummins India Limited (CIL)- An Overview

• Amongst India’s largest exporters of engineering products

• Manufactures a variety of engines operating on diesel, natural gas and dual fuel

• Provides innovative solutions across Industrial Business, Power-generation and Aftermarket

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Country-wide
network-
20 dealerships,
450 service
points catering
2,20,000+
customers
World-class
facilities and
infrastructure
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3,200+ Community
employees Support
across India through CIF –
with 23% 4,50,000 +
gender lives touched
diversity
Strong
aftermarket
presence
servicing
6,27,000+
engines in the
field 5
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Cummins Inc. –
Key Highlights and Financial Performance
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Cummins Inc. CY 2020 Highlights

Building more prosperous communities

Our path to carbon neutrality includes powering the world’s first hydrogen fuel cell passenger train

• Grants to communities- $22 Mn( record amount ) ;

• including $2.5 Mn in pandemic-related relief

• Launched Cummins Water Works

• Cummins Powers Women – positively impacted 17 Mn

women and girls since launch in 2018

Investing in future

• Record 312 patents received

• More than $900 million on research , development and

• engineering for a third consecutive year

Rebound after historic decline by pandemic

• Launched new products across business segments

• Well-capitalized on the back of market recovery

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Public

Financial Performance CMI Q2 2021

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Revenue : 6.1 Billion Up 59% from Q2 2020

EBITDA* : $974 million, 15.9 percent of sales Compared to $549 Million, 14.3 percent of sales, in Q2’20

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Impact of COVID-19. Our Response
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Impact of COVID-19

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Severe health impact

Nationwide lockdowns

Global travel restrictions

Factory shutdowns

Temporary decline in customer demand

Supply chain disruptions

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Staying strong, agile and resilient

HEALTH AND SAFETY of our employees is of paramount importance

We will continue to SERVE OUR CUSTOMERS who provide critical services to the economy

Our company CONTINUES INTO THE FUTURE; we remain committed to bring best-in-class technologies to serve our customers and other stakeholders

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Cummins India* COVID-19 Vaccination drive

• 19,000+ employees and dependents vaccinations till date across our plants and offices

• 3 rounds of vaccination drives so far (and counting!)

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• 300+ on-ground volunteers for support

Committed to living our core value of CARING

• Covers all Cummins India group entities including Cummins India Limited

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Our Community effortsHelping our society fight the COVID–19 pandemic through the Cummins India Foundation

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Donated life-saving medical equipment to hospitals in collaboration with MCCIA and CII

#100+ Grant appeals 25,000+ 3 Ply masks medical equipment approved - COVID relief donated to hospitals to hospitals in collaboration with MCCIA and CII 8,500+ N95 masks 6,000+ Safety goggles 2,500+ Full Body PPE* suits donated to donated to hospitals donated to hospitals hospitals 30,000+ Protection 10,000+ Face shields 2,000+ Nylon Swabs kits (masks, gloves, donated to hospitals and donated to hospitals sanitizers) donated to police force in our police, sanitation and communities health officials 10,000+ Litres of 15,000+ Daily wage 57,000+ Cooked Disinfectant donated earning families meals served to to Pune, Phaltan Municipal benefited through dry migrant laborers and Bodies, 22 Model Villages, ration kits (rice, wheat, pulses, homeless 14 non-model villages salt etc.)

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5,000+ Virus Testing kits donated to local health agencies

5,000+ surgeon caps donated to hospitals 200+ Health centres and 2 hospitals provided with 1500+ sanitizers and hand wash materials

2,800+ Sanitary Napkins donated to economically and socially disadvantaged girls and women

*PPE distributed are not part of Cummins inventories. They are sourced separately from Government authorized suppliers Community efforts are through Cummins India Foundation which is supported by all Cummins Group entities in India

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Cummins India Limited-
Key Highlights and Financial Performance
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Cummins India Limited FY 2020-21 Highlights

Delivering value to stakeholders

• New-generation, electronic 4 and 6-cylinder engines for

• Construction Equipment Vehicle (CEV) applications

• Product Launches- Compact 50 kVA genset for a special

• purpose Defense application; PSO600 controller for Low HP range of 82.5-125 kVA; B3.3 and QSB7 gensets for Exports market

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Living our promise of dependability

• 4.5 lakh service calls registered; 98% resolution rate

• Launched Cummins Aashwasan

Strengthening Communities

• 1,50,000+ lives touched through COVID-19 relief support

• Cummins Powers Women- 2[nd] leadership and advocacy

• accelerator program conducted virtually

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Financial Performance CIL FY 2020-21 Revenue : ₹ 4,256 Cr

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Profit before Interest Tax : ₹ 824 Cr

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Cash generated from operations: ₹ 788 Cr

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Dividend : 750%

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₹ Cr

CIL Revenue & PBIT Trend

Revenue CAGR: (12.2)%

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5526
5062
4256
5,526
5,062
4,256
1,047
799 824
FY 2019 FY 2020 FY 2021
Revenue PBIT
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Sales:

• FY 2019 registered record high sales of ₹ 5,526 Cr.

• FY 2020 and FY 2021 significantly impacted due to pandemic

PBIT : 3.5% PBIT expansion vs. last year as a result of cost optimization and other productivity measures

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₹ Cr

Domestic vs Exports Trend

Domestic CAGR Exports CAGR (10.5)% (16.5)%

CAGR: (12.2)%

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30%
26%
30%
26%
32% 32% 27%
27%
70% 74%
73%
68% 68% 70% 74% 73%
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₹ Cr

Dividend Trend

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1000%
850%
500
800%
700%
750%
400
600%
300
400%
471
416
200
388 200%
100 0%
- -200%
FY 2019 FY 2020 FY 2021
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* Excluding Dividend Distribution tax

FY	FY 2019	FY 2020	FY 2021
Dividend Payout% (as a % of Profit after Tax)	79%	68%	67%

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The Future. Our Growth Strategy
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Key macroeconomic megatrends

Impetus on infrastructure growth

• Stall in infrastructure spending due to COVID giving rise to pent-

Leapfrog in digitalization and automation

• Faster e-commerce growth, Artificial Intelligence and Machine Learning, Industry 4.0

Combating climate change

• Reduction in emission intensity and increase of renewable capacity, leading to stringent emission norms and energy mix change

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CIL Growth Strategy

	Profitable growth	Profitable growth
Beyond engine & components Rail electrification Hydrogen (incl. fuel cells) OEM penetration (EBU, PSBU Supply chain) Beyond engines Rail electrification Alternate and Renewal Sources			After-market Exports
100 bps y-o-y margin ↑	Value selling Cost variabalisation	Material efficiency	Footprint optimization

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Right talent
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Robust supply chain
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Technology enabled
growth
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Growth mindset
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Inclusion & diversity
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Accelerated Cost
Efficiency (ACE)
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Compliance to HSE, Quality & Accounts
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The FutureThe opportunities are immense!

• Consolidation of global supply chain

around the world

• Clean Diesel

 Greater penetration in aftermarket

• India becoming a greater export hub

 Alternate fuels and Renewables

• Leveraging capacities in supply chain

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#We are well positioned to Capitalize on opportunities. Emerge Stronger

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Harnessing 60-year legacy Right Strong Our core Stable the global of innovation and investments financial strengths leadership expertise dependability made position team

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