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1. Our Financial Risk Advisory Service Offerings for Corporates

2. Contents A Overview of FSRM practice Price Risk Management for Commodities 1 Currency Risk Management 2 Hedge Accounting and Quantitative Advisory 3 Treasury Advisory 4 Financial Supply Chain 5 Treasury Audits and Process Reviews 6 B A snapshot of our solutions C Select Credentials Integrated treasury setup and handholding 7

3. An overview of the FSRM practice

4. Financial Risk Advisory Services practice profile 4 People Experience Key Clients Innovation Methodology Dedicated Team of more than 20 Financial Risk Services specialists Subject matter experts across processes, strategies, systems, valuation and market dynamics Specialized crack-teams covering Quantitative Advisory, Hedge Accounting, Treasury Advisory, Treasury Audits, Currency Risk and Commodity Risk Experience of working with more than 100 Corporates, Banks and Financial Institutions in the area of financial risk management Extensive experience with Companies across industry verticals Bunge Group Louis Drefus Ruchi Soya Wipro Tata Chemicals Air India Tata Power Crompton Greaves TCS Titan Industries Vedanta Group Hindalco Hindustan Platinum Sigma Elec. Group Tata Motors Shell Reliance Essar HPCL GSPC Investment in market information systems and risk quantification techniques Development of decision support MIS to facilitate Development of performance reporting MIS to facilitate ongoing decision making and senior management oversight Sound and proven methodology applied across industries, asset classes Structured approach addressing setting up end-to-end capabilities building for clients Methodology evolved through experience incorporating leading industry practices

5. High-level overview of service offerings Strategy Hedge accounting framework People and processes Performance management Benchmarking and oversight Components What we deliver Why is it important Critical evaluation of existing strategies Report on alternate strategies Risk-return and impact analysis Evaluation of accounting impact Hedge accounting policy, MIS & processes MIS framework for hedge effectiveness testing Currency risk management policy Decision support tools and MIS Training and handholding Reporting framework – transaction and performance Performance and risk indicators Report on benchmarking with global leading practices Ongoing review and independent oversight Protecting bottom-line within risk appetite Dynamic hedging strategy to adapt to unprecedented market movements Compliance with FAS-133 / IAS-39 / AS-30 Managing accounting impact of hedge cash flows Governance and comfort to stakeholders Capability building Simplifying and mechanizing the decision making process Single measure for realistic performance assessment Transparent reporting to stakeholders Keeping sight of market practices and learning from experience Management of operational risk EY service offerings cover all aspects from strategy to operations

6. A snapshot of our solutions

7. Price Risk Management for Commodities Commodity Industry/ Sector covered Primary solution offerings Agro-commodities Commodity trading companies End-users Crude Oil and Petroleum Products Oil exploration & production Refineries Oil marketing companies Fuel Oil/ Furnace Oil Fertilizers & chemicals Glass manufacturing Electricity generation Aviation Turbines Fuel Airlines Oil marketing companies Metals Mining companies Processors End-consumers Bullion Banks and financial institutions Review of physical and paper trading activities Setting up integrated trading desk (physical and paper) covering commodities and freight End-to-end integrated advisory covering setting up oil price risk management desk Setting up of centralized hedging desk for hedging fuel oil price risk Setting up of centralized desk to manage procurement and hedging of ATF Review of existing hedging setup for miners & processors Set-up of hedging desk for miners and processors primarily to enable forward pricing for customers Set-up of hedging desks for consumers Set-up and review of bullion consignment, gold coins and gold on loan product offerings Set-up and review of bullion investment desks 1

8. Currency Risk Management Addressing challenges and stakeholder expectations for robust company wide currency risk management Strategy Benchmarking and oversight People and processes Accounting Performance management Study the underlying exposures in detail Quantify the risk in monetary terms Set the acceptable risk appetite Determine the minimum hedge ratio Define market-driven benchmarks to enable adjustment of hedge ratio band in line with market volatility and budgets Monitor net open positions closely to assess accounting impact Adopt hedge accounting to facilitate aggregation of hedge and exposure cash flows Strengthen rationale and hedge documentation to establish cash flow offset Oversight committee to govern the currency risk management function Ongoing management assurance through reviews of strategy and processes Strengthening operational practices by benchmarking against global leading practices Establish a single simplistic measure to evaluate performance keeping in mind both hedge and underlying exposures Assess impact vis-à-vis pricing, budgets and accounting profit and loss Reporting on key parameters to senior management Standardize processes and decision support tools that minimize human judgement Empower people through knowledge sharing and capability building Establish strong controls to mitigate operational risk in hedging operations 2

9. Hedge accounting and Quantitative Advisory Objectives Key activities Outputs Implementation of FAS-133 and FAS-52 to the extent they affect currency risk management operations Strengthening processes related to hedge accounting to ensure that profit and loss impact is not impacted as a result of weak hedge rationale or documentation Accurate reflection of hedge and exposure cash flows Valuing of portfolio, financial instruments and Value at Risk Assessment of accounting impact of hedging strategies Put in place mechanism to monitor net open positions that can potentially impact accounting P/L Assess techniques to manage accounting impact of hedging operations Strengthening the process for hedge-exposure allocation and establishment of hedge rationale Put in place a process for hedge effectiveness testing Develop MIS to support transaction recording, hedge effectiveness testing and audit trail Report on roadmap towards FAS-133 implementation MIS framework and documentation standards to support hedge accounting Frameworks for hedge effectiveness testing Quantification of risks and portfolio Accounting and Valuation solutions to support your risk management framework 3

10. Treasury Advisory Determination of production costs and structured margins Export of inventory to marketing centers Holding of inventory at marketing centers Management of receivables across the organization Manufacturing in line with budgets at production centers Utilize business surpluses for expansion into new geographies 1 2 3 4 5 6 Business value chain Transforming treasury into a key enabler in the business value chain Protect a currency rate that preserves the feasibility of a production location Protect book P/L from currency fluctuations Funding inventory days across geographies and in multiple currencies Funding debtor days across geographies and in multiple currencies Provide low cost working capital through surpluses working capital lines Preserve the economic value of strategic investments 1 2 3 4 5 6 Aligning treasury activities to become business enablers: We put in place measures to optimize balance sheets and cash flows spanning Loans, Working Capital, Investments and Exposures 4

11. Financial Supply Chain 5 Restructure processes to utilize working capital more efficiently Risk management Enable better management controls and reduced costs of regulatory compliance Compliance and Controls Reduce the incidence of market risks Reduce the cost of hedging through increased market access Manage Currency and Commodity Risk Mutli -geography sourcing / invoicing centers Boost Sourcing Capabilities Optimize and streamline capital structure Borrowing and Capital Raising Costs Solutions Challenges Working Capital Restructuring, Re-engineering , and optimization of the Financial Supply Chain

12. Treasury Audits and Process Reviews Process Re-engineering to optimize treasury workings Current state assessment and indexing (scoring) against leading practice repository at an industry level and across corporate treasuries 1 Assess coverage of treasury strategy and policy and potential impact on financial statements 2 Benchmarking of operational aspects covering processes, systems, infrastructure, staffing and reporting 3 Evaluate decision support, risk measurement and performance management framework for ongoing monitoring of treasury function 4 Roadmap for enhancing treasury function and scoring index to evaluate enhancement and maturity on an ongoing basis 5 Current state assessment index and gaps against leading practices Report on improvements in treasury strategy and policy Report on strengthening operational processes Performance management framework Implementation roadmap and treasury improvement index 6

13. Integrated treasury setup and handholding Inherent risk profile Risk Capacity Vision Integrated trading and risk management Contemplate Assess Manage Risk Limits Performance and risk indicators Limit Monitor Stakeholder expectations Tolerance level of the Company Quantum of risk resulting for underlying business Transfer risks to a central entity to manage Limit risk within the tolerance level Align individual goals with risk appetite and limits set 7 Translating top management concerns on risk into a powerful risk framework to manage financial risk

14. Integrated treasury setup and handholding We handhold clients right from understanding their risk to putting in place measures to manage it Exposure collation and aggregation 1 Risk quantification and assessment of potential impact 2 Decision support & setting hedge ratios 3 Setting of target/ benchmark rates 4 Re-balancing portfolio 5 Transaction recording 6 P/L and MTM computation 7 Single measure and KPIS for performance mgmt 8 We put in place strategy to cover the entire exposure management cycle with focus on risk analysis and decision support 7

15. Select Credentials

16. Clients spanning industries and sectors Energy HPCL Mangalore Refinery and Petrochemicals Limited Haldia Petrochemicals Limited Mahanagar Gas Limited Suzlon Energy Limited Reliance Industries Limited ONGC Essar Energy Plc IT/ITES Tata Consultancy Services Limited A leading software company with exposures exceeding USD 4 billion Wipro Limited Zensar Technologies Limited Keane Inc A leading BPO company with exposures exceeding USD 1 billion Industrial Products Semco Electric Private Limited Enkei Castalloy Limited Hindalco Industries Crompton Greaves Limited FAG Bearings Sajjan Industries Limited Vedanta Resources Plc Ispat Industries Limited Telecom and technology Tata Communications Limited Vodafone Essar Limited IDEA Cellular Limited Lenovo India Private Limited Bharti Airtel Limited Etisalat DB Telecom Tata Teleservices Agro and related commodities Ruchi Soya Industries Limited Bunge Limited Gujarat State Fertilizers and Chemicals Limited ICI Limited SRF Limited Rallis India Limited Pharmaceuticals Ranbaxy Laboratories Limited Torrent Pharmaceuticals Limited Dr Reddy’s Laboratories Limited GVK Biosciences Jubilant Organosys Matrix Laboratories Limited Our credentials

17. Ernst & Young Assurance | Tax | Transactions | Advisory About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 167,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit www.ey.com © 2014 Ernst & Young LLP All Rights Reserved. This document contains confidential materials proprietary to Ernst & Young LLP (‘EY’). The materials, ideas and concepts contained herein are to be used solely and exclusively to evaluate the capabilities of EY to provide assistance to the Company. This document is intended solely for the information and use of the Company’s management and is not intended to be and should not be used by anyone other than these specified parties. EY therefore assumes no responsibility to any user of the document other than the Company. Any other persons who choose to rely on this document do so entirely at their own risk. This proposal does not constitute an agreement between EY and the Company. Any services EY may provide to the Company will be governed by the terms of a separate written agreement signed by both the Company and EY. This document is based on information provided to us by the Company, which we have not verified. Accordingly, we are not responsible for any inaccuracies in that information. Furthermore, changes in the Company’s definition of requirements will necessarily affect the proposal set forth herein.