#1EICHER www.eichermotors.com August 03, 2023 The Secretary BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai-400 001 Security Code: 505200 Online intimation/submission The Secretary National Stock Exchange of India Ltd Exchange Plaza, 5th Floor, Plot No.C/1, G Block, Bandra Kurla Complex, Bandra (E) Mumbai-400 051 Symbol: EICHERMOT Subject: Regulation 30 of the SEBI (LODR) Regulations, 2015 - Investor Presentation Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, please find attached a copy of the investor presentation being issued today. You are requested to take the same on your records. Thanking you, For Eicher Motors Limited ATUL SHARMA Atul Sharma Digitally signed by ATUL SHARMA DN:c-IN, postalCode-110085, st-DELHI, street-H NO. 183, GF POCKET-2 NORTH WEST HI,SECTOR-24, ROHINI, INI,110085, I-NORTH WEST DELHI, o-Personal serialNumber-b00e7ea3b02e722e86e89c34945e1e 7787137a3a7f91d47571014897b0a4 pseudonym-3d5d4776abb401 baeaa18180ad4c420 2.5.4.20-69937616b7e8a55e82fd19b9c63d7a0de ac80dcd5347980159c0d067c795, email-ATULSHARMA ROYALENFIELD.COM -ATUL SHARMA Date: 2023.08.03 18:00:17 +05'30 Company Secretary Encl. As above Eicher Motors Limited Corporate Office: # 96, Sector 32 Gurugram-122001 Haryana, India Tel +91 124 4415600 Registered Office CIN: L34102DL1982PLC129877 3rd Floor Select Citywalk A 3, District Centre, Saket New Delhi 110 017, India Tel +91-11-41095173, Email: [email protected]#2EICHER MOTORS Q1 FY 2023-24 INVESTOR PRESENTATION AUGUST, 2023 ROYAL#3SAFE HARBOUR STATEMENT SIGNIN ER Ro ROYAL ENFIELD BELL MOT ROYAL ENFIELD All statements included or incorporated by reference in this presentation, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates, and projections about industry, our management's beliefs, and certain assumptions made by us. Although Eicher Motors Limited (EML) believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which such statement was made, and EML undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. No assurance can be given that actual results, performance, or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them. 2#4CONTENTS 1. EML Overview 2. Royal Enfield • Product • Industry ⚫ Business Performance • Operations Overview • Brand • Sustainability 3. VECV 4. Financial Review#5GROUP STRUCTURE - EICHER MOTORS LTD. Domestic Promoter Group 49.17% Foreign Institutional Institutional Investors 30.27% Investors 10.13% Others 10.43% 0% 10% 20% 30% 40% 50% 60% 70% 80% Joint Venture with Volvo Group Eicher Motors Limited (EML) Business Unit 90% 100% 45.6 54.4 VE Commercial Vehicles Ltd (VECV) RENA (Royal Enfield North America Ltd) ↓ Royal Enfield Canada Ltd ROYAL ENFIELD Royal Enfield (RE) Royal Enfield (Thailand) Ltd Royal Enfield UK Ltd RE Brazil (Royal Enfield Brasil Comercio de Motocicletas Ltda) Shareholding pattern as of 30th June 2023 RE INVESTOR PRESENTATION August 2023#6INVESTOR PRESENTATION August 2023 EML BOARD Leaders with proven track record S Sandilya Chairman, EML Siddhartha Lal Managing Director and CEO, EML Vinod K. Aggarwal Non-Executive Director Inder Mohan Singh Independent Director ROYAL Ewing B. Govindarajan CEO - Royal Enfield, Whole Time Director Manvi Sinha Independent Director 5#7ROYAL ENFIELD#8OUR PURPOSE Royal Enfield's philosophy of Pure Motorcycling has always been about a constant search for balance between people, machine and terrain. Today, in a world out of sync with itself, we must extend this quest to our business - so that we can restore equilibrium between commercial objectives, community goals and the collective ecosystem that we all inhabit. Terrain Iconic landscapes ERE INVESTOR PRESENTATION August 2023 Innovation for sustained exploration SUSTAINABILITY People Machine Thriving resilient people 7#9EVOLUTION OF OUR COMPANY Royal Enfield is the global leader in the 250cc - 750cc, mid-weight motorcycles segment. With ~90% market share in the Indian mid-weight segment, we have rapidly grown our presence across the world with more than 1,029+ retail touchpoints across 60+ countries. Our world-class motorcycles are among segment leaders, in all key markets across Europe, Americas and the Asia-Pacific. With a vision to grow the mid-weight segment, we are focused on bringing a complete ecosystem of pure motorcycling to riding enthusiasts across the world. We have an exciting repertoire of rides and events that have fuelled the leisure riding culture globally. Our wide range of riding apparel, gear, and motorcycle accessories are the means of self-expression. With our line-up of evocative, world-class motorcycles along with several initiatives to grow the pure motorcycling ecosystem, we are well on our way to becoming a truly premium global consumer brand from India. 1901 1st Royal Enfield Motorcycle Produced Legendary Bullet was born 1932 1955 Royal Enfield forms Enfield India with Madras Motors INVESTOR PRESENTATION August 2023 Eicher Acquires Enfield India 1994 2008 500cc UCE Exports Begin UCE Classic & Bullet 350 Launched 2010 India's 1st Adventure motorcycle - Himalayan was Launched 2013 2017 2016 Twins Platform Launched 2018 2019 J-Platform introduced with the Meteor 350 2020 Entering a new phase with Hunter 350 2021 2023 2022 1st Motorcycle Rolled out of Royal Enfield's 2nd manufacturing Plant at Oragadam & New BRI Introduced Royal Enfield's 3rd Manufacturing Facility begins operations at Vallam & UK Tech Centre Studio Store Format Introduced in India The All New Classic 350 SUPER METEOR 650 Launched 8#10GROWTH FOCUS Balance - Profit & Profitability SUSTAINABILITY Balance - Social & Commercial objectives ROYAL ENFIELD! REBALANCE ICE AND EV Balance - EV as game changer along with ICE ☐ BRAND LED CX Brand led Customer Experience versus transactional focus CREATE AGILE, RESILIENT & TIMELESS BUSINESS STRATEGIC APPROACH ERE INVESTOR PRESENTATION August 2023 6#11YAL ROYAL ENFIELD MANAGEMENT Team of Global Professionals ROYAL ENFIELD Siddhartha Lal Managing Director & CEO, EML B. Govindarajan CEO - Royal Enfield YAL Yadvinder S. Guleria Chief Commercial Officer INVESTOR PRESENTATION August 2023 Vidhya Srinivasan ENFIELD Mark Wells Chief of Design Mohit Dhar Jayal Chief Brand Officer Simon Warburton Chief Program Manager Paolo Brovedani Chief of Product Development Mahesh Tripathi Chief Operations Officer 650 Rajeev Sharma Chief Financial Officer Chief Human Resource Officer Sudhakar Bhagavatula Chief Information Officer Mario Alvisi Chief Growth Officer - EV Umesh Krishnappa Chief Technology Officer- EV 10#12PRODUCT PORTFOLIO INVESTOR PRESENTATION August 2023 BERAN Re ROYAL ENFIELD#13Lew's Scu INVESTOR PRESENTATION August 2023 ICONIC TIMELESS ROYAL HEOD PO RESH BULLET 350 CLASSIC 350 12#14INVESTOR PRESENTATION August 2023 METEOR 350 CRUISER Super 50 ER SUPER METEOR 650 13#15INVESTOR PRESENTATION August 2023 ROADSTER IN ANT CHINA TOWN SCALA 中國城銀都魚速 FORME ENTVELD 週酒樓 CHINA INTERCEPTOR ROSALESIDELO ROYAL ENFIELD HUNTER 350 INTERCEPTOR 650 ZOUM 14#16HIMAL INVESTOR PRESENTATION August 2023 HIMALAYAN ADVENTURE www BELL MOTO ROYA ENFRID SCRAM 411 15#17INVESTOR PRESENTATION August 2023 CAFE RACER 12 ENFIELD ROYAL ENRED CONTINENTAL GT 650 16#18INDUSTRY#19ERE INVESTOR PRESENTATION August 2023 DOMESTIC MOTORCYCLE MARKET 15.0 13.6 12.6 10.0 10.5 10.7 11.1 10.7 5.0 10.0% 8.2% 7.8% 7.5% 11.2 10.0 10.2 9.0 5.0% 2.5% 2.7 0.0 0.0% FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Q1 FY24 Motorcycle Volume (Mn) Share of >250cc in Motorcycles 18#20OPPORTUNITY - DOMESTIC MARKET Rising Income The expansion of the middle class and high-income segments will 5,000.00 4,000.00 3,000,00 US$ 4,063 India Opportunity reshape future 2,000.00 US$ 1,336 consumption and drive incremental 1,000.00 consumption of US$ 4 trillion by 2030 0.00 2019 2030f Per Capita GDP Source: World Economic Forum - Future of Consumption in Fast-Growth Consumer Markets: INDIA, 2019, FICCI; CBRE Research, Q2 2019 India's favorable demographics By 2031, the working age population i.e. 20-59 years is poised to increase by 300 bps Source: Economic Survey 2019-20 INVESTOR PRESENTATION August 2023 2 Wheeler: 21M Market- Motorcycles: 13.5 M >125cc: 3.2M 100.0% 9.7% 12.4% 75.0% 60+ years 20-59 years 0-19 years Royal Enfield's Customer Base* 18-25 26-35 Over 35 55.8% 58.8% 50.0% Attracting a younger set of customers with our new launches. 28% 31% 25.0% 34.5% 28.8% 0.0% 2021 Population by age cohort 2031 *Data for FY2023 41% 19#21LAUNCH OF CLASSIC IN 2009 WAS AN INFLECTION POINT Launch of " New Classic 350" and "Scram 411" 1,000 750 500 250 Launch of "Continental GT" Launch of new "Thunderbird" and "Apparel and Accessories" Transition of all models to "UCE" Launch of "Classic" 178 113 75 33 37 43 52 53 0 CY06 CY07 CY08 CY09 CY10 CY11 INVESTOR PRESENTATION August 2023 303 508 Launch of "650 Twins" Launch of "Hunter 350" and "Super Meteor 650" Launch of "Himalayan" 820 824 Launch of "Meteor 350" 835 666 698 612 602 217 CY12 CY13 CY14 FY16 FY17 FY18 FY19 FY20* FY21* FY22* FY23 Q1FY24 Volumes grew by ~41% CAGR between CY-2010 to FY-2018, prior to significant external headwinds *FY20, FY21 and FY22 volumes were impacted due to COVID 19 pandemic and supply chain constraints Note: Standalone volumes for Eicher Motors Limited 20#22GAINING MARKET SHARE IN THE >125cc SEGMENT Market Share (%) ERE INVESTOR PRESENTATION August 2023 40.00% 30.00% 20.00% 10.00% 0.00% 12.6% 2.0% 32.9% 10.00% 7.50% 7.6% 5.00% 2.50% 0.00% FY14 FY15 FY16 FY17 FY18 FY19 Royal Enfield's share of >125cc motorcycles FY20 FY21 FY22 FY23 Q1FY24 ■Royal Enfield's share in motorcycles Market Share (%) 21#23Global Mid-size Market is underserved and is a huge opportunity Americas Market Share^/ APAC Market Share EMEA Market Share 8% 9% 9% 100,000 75,000 TMillion+ Opportunity* 4.5x Volume Growth 50,000 ERE INVESTOR PRESENTATION August 2023 25,000 0 20,825 38,622 35,675 74,238 89,226 FY19 FY20 FY21 FY22 FY23 Royal Enfield's International Volumes *Management estimate of the total middleweight motorcycle volumes in the priority markets for Royal Enfield. ^Reflects Royal Enfield's market share in the middleweight segment in the countries present as of FY23 22#24BUSINESS PERFORMANCE#25ROYAL ENFIELD'S GLOBAL FOOTPRINT Canada Subsidiary North America. Subsidiary Subsidiaries - 05 CKD - 05 Tech Centers - 02 Manufacturing - 03 CKD - Completely Knocked Down ERE INVESTOR PRESENTATION August 2023 Mexico (Dis) Colombia (CKD) (Dis) Argentina (CKD) (Dis) UK Subsidiary Tech Center Brazil CKD & Brazil Subsidiary Europe & MEA (Dis) India Tech Center Manufacturing ---South korea ----Japan Nepal (CKD) (Dis) Thailand CKD & Thailand Subsidiary Malaysia Singapore Australia (Dis) Indonesia New Zealand 24#26EXPANSIVE PREMIUM DISTRIBUTION NETWORK IN INDIA 1,092 stores and 942 studio stores across ~1,750 cities North 329|315 Store count ▪ Large stores ■ Studio stores West 199|109 East 233|226 South 331|292 INVESTOR PRESENTATION August 2023 1,031 1,055 969 600 1,025 1,063 1,090 915 921 825 FY18 FY19 FY20 FY21 FY22 FY23 Studio Stores Large Size Stores City Category wise Distribution* Category Store Count A+, A 259 B, C 379 470 1,092 Chennai Global Headquarters Technology Centre Manufacturing Facilities Tiruvottiyur Oragadam Vallam Vadagal Royal Enfield currently ranks #2 in the FADA Dealer Satisfaction Survey 2022 D, E, R Large Stores Studio Stores Total 942 2,034 *Data as of June 2023 25#27RAPIDLY GROWING INTERNATIONAL NETWORK 1,029+ global touchpoints with 210 Exclusive stores & 819+ MBOS Exclusive Store Multi Brand 50 Outlet 110 Exclusive Multi Brand Store Outlet Exclusive Store Multi Brand Outlet Americas Subsidiary USA Marketing Company - Brazil Assembly Unit - Argentina, Colombia, Brazil 92 214 UK, MEA, Europe, 68 495 APAC Technology Centers - UK Marketing Company - UK Assembly Unit - Thailand Subsidiary: Thailand TRE INVESTOR PRESENTATION August 2023 26#28SHARE OF INTERNATIONAL REVENUE GROWING Network Expansion and Touch Points New Retail formats - Studio stores, Shop-in-shop for apparel, and motorcycle displays to increase customer reach. Network expansion in key developing markets to increase the number of touch points for customers CKD Setup Evaluating opportunities to set up CKD facility in priority markets in APAC and LATAM regions. Have set-up a CKD facility in Argentina, Colombia, Thailand, Brazil and Nepal. Product Portfolio Expansion 1010 1000 International Business - Stellar Financial Performance over last 7 years 9.7% 9.1% 16:8% 15.0% 14.4% 435% 7.5% Launch of new products to expand the global product portfolio and presence in new categories. Launched Super Meteor and Hunter 350 in key markets of APAC and Europe. 500 TRE INVESTOR PRESENTATION August 2023 5.04 3.9%- +3.9% 3.1% 3.1% 2.594 147 217 281 379 831 847 1,732 2080 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Revenue from International business (INR Crs.) % of Total Revenue 27#29NON-MOTORCYCLE BUSINESS Provide frictionless experience for RE Riders In Store Opportunity Accessories Apparel ONE RIDE Non Motorcycle Business - 4X Revenue growth over the last six years in non motorcycle segment Explore new revenue pool from adjacencies In Use Opportunity 12.5% 11.9% 10.6% 9.0% 8.2% 7.0% Spares ✓ ✓ Assistance Roadside * Annual Maintenance Contract RE INVESTOR PRESENTATION August 2023 15.4% 14.1% 370 579 841 Extended FY16 FY17 FY18 1,104 FY19 1,206 1,091 1,587 2,041 FY20 FY21 FY22 FY23 Warranty Revenue from Non-Motorcycle business (Rs Crs) -% of Total Revenue 28#30BUILDING CAPABILITIES TO CATER TO A GLOBAL AUDIENCE In English midlands with access to global product development capabilities and ecosystem Rs 1,462 cumulative R&D spends in the last 5 years Bruntingthorpe, UK ROYAL ENFIELD ROYAL ENFIELD New Product Introduction (NPI) framework in place to develop best-in-class products in an optimal timeframe Next five-year product pipeline in place Chennai, India World-class facilities with multiple Teams working from concept stage to production Advanced Engineering and EV teams working on future requirements Total of 450+ dedicated R&D employees Product Strategy Identify opportunities, define products Industrial Design Virtual design of the product Product Development Engineering analysis design and validation/ of powertrain Programme Management Genuine Motorcycle Accessories Define, Design and Develop Current Engineering Continuous improvement of products post launch Coordinate development from concept to production INVESTOR PRESENTATION August 2023 29#31INVESTOR PRESENTATION August 2023 EML-STARK FUTURE PARTNERSHIP 01 Common tenets of long term vision 02 Deep understanding of EVs and connected - tech Technical Collaboration 03 Agreement - potential for joint development and sourcing 04 World class team - Faster product development 05 Sourcing relationships for electronics, EV parts EML Invested €50 mn with a 06 seat on board of Stark Future 30#32OPERATIONS OVERVIEW#33THIRUVOTTIYUR ORAGADAM VALLAM ROYAL ENFIED No Assembly operations; Plating & Auto buffing 600,000 Capacity motorcycles per annum 600,000 Capacity motorcycles per annum INVESTOR PRESENTATION August 2023 32#34NEPAL CKD LAUNCH 126 Stories across key publications 116 Million Potential Reach 30+ Media engaged in Nepal Royal Enfield's plans for Nepal market RE's fifth CKD facility was inaugurated in Nepal on the sidelines of market launch of the New Classic 350 and Scram 411. Organized Community Ride X Press Conference X Media Round Table for media followed by Press Release dissemination in India, Nepal and global markets INVESTOR PRESENTATION August 2023#35BEST IN CLASS TECHNOLOGY DELIVERING SUPERIOR QUALITY VEHICLE ASSEMBLY ENGINE ASSEMBLY SURFACE FINISHING Assembly line flexibility - 256 SKUs can be produced (including MiY) ■ Number of Poka Yoke (mistake proof) in lines - 49 Direct Current (DC) nutrunners for safety critical tightening joints ■ Road test and dynamometer testing done for 100% of vehicles ■ Automation of critical sub assembly operations - 100% of tightening by DC nutrunners with accuracy of ± 3% ■ Number of Poka Yoke (mistake proofing) in the line - 520 ■ Semi automatic testing of 100% engines to ensure all the critical parameters 46 robots deployed to achieve superior paint finish and better transfer efficiency ■ Corrosion protection - 1000 hours Weather resistance (QUV) on painted parts 500 hours Sheen appearance measured by gloss - 90 units @60 deg Currently painting 39 colours, capable to add 20 more colour RE INVESTOR PRESENTATION August 2023 34#36AMS NOO BEST IN CLASS TECHNOLOGY DELIVERING MACHINING SUPERIOR QUALITY FABRICATION AUTO BUFFING Total no of machining centers across plants - 340 Process capability index 1.67 minimum for all critical parameters ■ Average part cleanliness < <4 mg achieved by deploying 25 robotic washing ■ Data capturing of critical parameters by using online SPCs with line interlocking facility ■ Improved ride & handling experience achieved by 100% robotic welding of frames 98 robots with intelligent power source for welding results in 99.5% gauge answering ■ Latest Laser welding process and robotic washing in fuel tanks fabrication Two stage automated buffing process enhance the aesthetics of plating components Provides uniform and consistent finish throughout the component Environmental friendly process with engineered dust extraction system TRE INVESTOR PRESENTATION August 2023 35#37DELIVERING THE PURE MOTORCYCLE EXPERIENCE ROYAL ENFIELD ROYAL ENFIELD Cruise your own way with Meteor 350. MY MAKE IT YOURS MADE LIKE A GUN A ROYAL ENFIEL MOTORCYCLE NEVER RETIRES Product in the picture may vary from the actual produc Make It Yours - a unique motorcycle personalization initiative Studio Stores - Unique compact store format with 3S store offerings Royal Enfield Vintage - Transparent sale and purchase of pre-owned RE motorcycles ROYAL ENFIELD 68 ROYAL ENFIELD NAVIGATION Calleria Market O Dry-Videos My Ro (x Luro vasoy s D SECTOR 45 45 ROYAL ENFIELD Tracking your Royal Enfield booking ORDER TRACKING H Gurgaon Navigate Record MY Royal Enfield Garage Café, Goa - Catalyst to deepen association with riding enthusiasts & customers INVESTOR PRESENTATION August 2023 RE App - 3D configurator motorcycle guide for frictionless service experience refreshed with UI/UX improvements Royal Enfield Custom Programme Curated to build aspiration & nurture the spirit of customisation 36#38ENHANCING CONSUMER EXPERIENCE SALES SERVICE DPHB PRODUCT Field Failure - Defects per Hundred Bike 5X Reduction --- Store and Online experience Sales Process excellence Brand retail identity Digitization of buying experience, interactive app Personnel with technical knowledge and understanding of product line-up Auto order implementation for Oil & Royal Enfield essential B Service on Wheels & Ride Sure The Ride Sure programme with a wide range of packages including - extended warranty, annual maintenance options and extended roadside assistance Ensuring anxiety-free ownership experiences. Doorstep servicing through launch of "Service on Wheels" initiative Focus on overall Turnaround time Auto replenishment of spare parts in Thailand implemented 2016 2017 2018 2019 2020 2021 2022 Product Quality Excellence Vallam Vadagal facility received "Smart Factory of the Year" in the 18th edition of the India Manufacturing Excellence Awards (IMEA) by Frost & Sullivan Certified for Integrated management system by DNV "Det Norske Veritas" Effective implementation of SRK methodology result in Fault frequency 50% reduction model by model over the years Successful and seamless establishment of Quality systems in CKD facilities TRE INVESTOR PRESENTATION August 2023 37#39BRAND#401901 The first Royal Enfield motorcycle is produced. Designed by R. W. Smith and Frenchman Jules Gotiet, it has a 11/2 hp Minerva engine mounted in front of the steering head. The final drive is at the rear wheel by means of a long rawhide belt. 1943 Royal Enfield produces large quantities of motorcycles and bicycles during the Second World War. The most iconic military model is the 125cc Airbome' motorcycle known as the 'Flying Flea'. This 125cc 2-stroke can be loaded into a specially fabricated parachute cradle and dropped with paratroopers behind enemy lines. 1952 Madras Motors receives an order from the Indian Army for 800 350cc Bullets. The motorcycles arrive from Redditch in early 1953 and prove to be a great success, being both hardy and easy to maintain. Johnny Brittain wins the prestigious Scottish Six Day Trial' on his 350cc Bullet, 'HNP 33T. 1964 The iconic Continental GT café racer is launched to great acclaim. To showcase its endurance, a team of photojournalists ride it from John 'o Groats to Lands End in under 24 hours. The GT features a racing petrol tank, dip-on handlebars, rear sets, a humped race seat, rev counter and a swept-back exhaust. 1932 The legendary "Bullet" motorcycle is born. It is first displayed in November 1932 at the important Earls Court Motorcycle Show in London. Three versions: 250, 350 and 500cc are available with inclined 'sloper' engines. twin-ported cylinder heads, foot operated gear change and high compression pistons. 1948 The 350cc Bullet prototype. with radical swinging arm rear suspension, is previewed in the Colmore Cup Trial of March 1948. Two Bullets form part of the victorious British team in the 1948 ISDT (International Six Days' Trials). held in Italy. Both their riders win gold medals. 1955 The Redditch company partners with Madras Motors in India to form 'Enfield India'. Work commences on the construction of a purpose-built factory at Tiruvottiyur, near Madras. 1994 Eicher acquires Enfield India Limited. The company is renamed Royal Enfield Motors Limited. ROYAL 2008 The 500cc Unit Construction ENFIELD Engine (UCE) is launched in India. The retro-styled Classic MOTOR CYCLES version achieves cult status MADRAS MOTORS Mores immediately and sales grow rapidly. 2017 Production commences at Royal Enfield's third manufacturing facility - a new state-of-the-art factory at Vallam Vadagal, Chennai. 2020 Royal Enfield debuts the all-new Meteor 350, a class-leading. thoroughbred cruiser. With an all new ground-up engine and chassis, the motorcycle delivers a supreme riding experience on open highways and is sublime for city rides. 2022 Royal Enfield launched the Hunter 350, an incredibly stylish, joyful, and compact motorcycle that exudes retro-metro style. The motorcycle has received raving reviews from experts across the globe and has also won the most coveted Indian Motorcycle Of The Year 2023 award amongst the several other awards and accolades. 2016 Royal Enfield debuts its first purpose-built motorcycle, the Himalayan. With the all-new LS410 engine, a half-duplex split-cradle frame and steadfast suspension, it promises the ride of a lifetime on all roads and no roads. 2018 After premiering at EICMA 2017, Royal Enfield's most anticipated motorcycles, the 650 Twins Interceptor & Continental GT are launched across all global markets to rave reviews scalping two prestigious awards- The Indian Motorcyde of the Year' & The Thailand Bike of the Year: 2021 In its 120th year, Royal Enfield re-envisioned its iconic motorcycle, the Classic, with the launch of the All-New Royal Enfield Classic 350. The motorcycle adds a new chapter to Royal Enfield's legacy of building authentic post-war era British motorcycles that are loved by enthusiasts around the world. 2023 After a stunning debut at EICMA 2022, Royal Enfield launched the most anticipated and thoroughbred cruiser- Super Meteor 650. The motorcycle has received unprecedented love and appreciation across the globe.#41LADAKH SCOUTS X ROYAL ENFIELD RIDE | FLAG OFF BOOUTS THE VANQUISH RIDE Ladakh Scout's motorcycling expedition to showcase and highlight our connect with the Indian Armed forces INVESTOR PRESENTATION August 2023#42FR INTERNATIONAL BUSINESS ROYAL ENFIELD APPAREL APPAREL ROYAL ENFIEL ART OF MOTORCYCLING Top 5 Winners of Art Of Motorcycling Season 3 Gaining momentum with a footprint of over 70 markets Overseas TCX Build Brand Awareness and credibility with established global apparel brands A new fit to cater to APAC and US regional nuances With more than 54,000 registrations, the third season of the #ArtOfMotorcycling saw a 3.5x increase in participation over the previous season INVESTOR PRESENTATION August 2023 EXTENSION OF ONE'S PERSONALITY Inspired by the motorcycling way of life, the range is built to help riders explore and express themselves, on and off the motorcycle aiding them to accentuate their lifestyle and self expression 41#43ROYAL ENFIELD X ICE HOCKEY MAKE COUN 401 INDIA INDIA MAKE I COUNT DI OUNT MAKE COUNT MAKE IT COUNT Hosting Team India Panel Discussion on development of Winter Sports NAKE IT COUNT KE IT Royal Enfield announced its partnership with the Indian women's Ice Hockey team in an effort to strengthen their Olympic ambitions. The partnership is an extension of the relationship of Royal Enfield with UT Ladakh in order to develop winter sports in the region. Royal Enfield is currently working with all stakeholders to grow Ice Hockey, winter sport and winter tourism across the Himalayas. TRE INVESTOR PRESENTATION August 2023 42#44JA ASSEN ROYAL ENFIER R RIDERS CLUB EUROPE Royal Enfield X NCW Himalayan Odyssey Riders Club Of Europe Slide School sci Jervi K TYRE Coca FISHER JKETYRE JKTYRE 25 JK TYRE NATIONAL RACING CHAMPIONSHIP 2022 PCRT JE TYRE KING fmsci JIET RE GT Cup - 2022 Finale Round 90° South The Great Himalayan Exploration RIDER MANIA One Ride RIDER Astral Ladakh Himalayan Zanskar CARTING Where's The Helmet 'Digital First' approach The largest, fastest growing and the most engaged online motorcycle brand community in the world On-ground and on-line communities together make a vibrant and eager audience ROYAL EN EASTERN ESCAPES Eastern Escapes#45STRONG BRAND EQUITY #1 ROYAL ENFIELD 85% Consideration ROYAL ENFIELD #1 47% Top of Mind Awareness Mode of Self Expression 31 percentage points ahead of our closest competitor 31 percentage points ahead of our closest competitor *Internal Kantar report on Brand Health Track - AMJ'2023 scores Among the host of brand health metrics tracked by Royal Enfield, 'Top of Mind Awareness' and 'Top Two Box Consideration' are key metrics. Our Top of Mind Awareness (first brand that comes to mind) is the highest in the category of 200cc+ at 47% while the closest competitor is at 16%. Our Top Two Box Consideration (purchase intent) is the highest in the category at 85% while the closest competitor is at 54%. Community Driven Culture Builder FRE INVESTOR PRESENTATION August 2023 44#4610.7 MILLION ONE OF THE WORLD'S STRONGEST FULLY ORGANIC SOCIAL MEDIA COMMUNITY < royalenfield o 4,425 Posts 2.6 M Followers 15 Following QRoyal Enfield View as admin NEDAGAN14-31 July Royal Enfield 10042941 Official Instagram account of the makers of the world's oldest motorcycle in continuous production. #RoyalEnfield #PureMotorcycling bit.ly/Motoverse 20231 Followed by arjunsingh_official_ac, prtkrudi and 23 others Royal Enfield in the world. Pure Motorcycling Since 1901. The oldest continuous-production motorcycle manufacturer. View Shop Follow Message Wheels &.. MOTO VERSE 3. Contact Wallpapers: #AOMS3 #UNESCOx #PureCrui 198 + D INSTAGRAM FRE INVESTOR PRESENTATION August 2023 Motor Vehicle Manufacturing Gurgaon, Haryana 507,163 followers Sweta & 4 other connections work here + Follow Learn more Home About Posts: Jobs Life People: About The oldest motorcycle brand in continuous production, Royal Enfield made its first motorcycle in 1901. A division of Eicher Motors Limited Royal Enfield has created the mid-sized motorcycle segment in India with its unique and d...see more Website royalenfield.com Phone 18002100007 + My Network Post Notifications LINKEDIN A 6 " • [!!!!!!!' PPING Royal Enfield 14th-31st July YOUTUBE < Q Royal Enfield (Default) לים HIMALAYAN DOVESEY 14th-31st July Royal Enfield (Default) ❤ @RoyalErfield 0 Publish 1 Promote <O View as Edit Page: Home Shop Posts Videos Photos: Live A Home Options Write something..... Visitor posts > Royal Enfield (Default) Posted by Hamaad Ul Haq 3m Friends Watch Manetplace Notifications FACEBOOK 2014-31 July 日 Follow Royal Enfield @royalenfield Official Twitter feed of the oldest continuous-production motorcycle manufacturer in the world. Automotive Madras, India bity/Reyni Joined November 2009 224 Following 199.5K Followers Tweets Replies Media Likes Royal Enfield @royalenfield-5d Recently hosted @IIHFHockey officials vial @icehockeyindia to examine and share their inputs on the blueprint we have been working on for the growth of Ice Hockey, lg ladakh @JaspreetSSahni #IceHockey #Wintersports #RESocialMission #Royal Enfield timesofindia.indiatimes.com Special Report: India's first all-weather ice. rink-Dream project in Ladakh being turned. Q TWITTER + E 45#47LEADING PREMIUM CONSUMER BRAND SHARE OF VOICE* ERE INVESTOR PRESENTATION August 2023 42% VS NET SENTIMENT 92.3% SHARE OF MARKET 7.6% *Share of Voice in the Global 2W Space Royal Enfield's Market Share in the Indian Motorcycle Segment 46#48#Indialce HockeyXRoyal Enfield #Royal EnfieldTwins #ThisisScramCity #Meteor350 Total Reach* 56M #BikeShed MotoShow #REvault #ArtOfMotorcyclingS3 Total Engagement 3.9M Average Engagement per Brand post 2364 #CruiseCandid Total Views 25M Engagement Rate 7% #Dug DugAaweRe #World Music Day #Himalayan Odyssey2023 #Ladakh ScoutsXRoyal Enfield #Royal Enfield Rides2023 #WheelsAndWaves2023 *Data as of June 2023#49SUSTAINABILITY#50"O PILLARS OF SUSTAINABILITY JOURNEY ROYAL ENFIELD STAL ENPIRE R SINCE 1901 Environmental Become water positive Attain Carbon neutrality Work towards zero liquid discharge Eliminate utilisation of single use plastic Focus on increasing share of renewable energy (primarily solar) Aim for zero wood usage in operations Reducing paper usage through digitisation Ensure a greater use of recyclable motorcycle parts 8 Social Ride for a cause Disaster relief activities Village upgradation programmes Road safety and community development programmes Vocational training programmes Achieve automation of labour-intensive processes ■ No engagement of child labour throughout the company's value chain Governance Strategy, execution and monitoring Risk management Transparency ■ Board composition . Whistleblower policies RE INVESTOR PRESENTATION August 2023 49#51. GREEN BUSINESS OPERATIONS Optimising Energy Consumption Implementation of VFD in EPC AHU, helping reduce frequency (50 hz to 40 hz) and power consumption Replacing high energy intensity blowers with coolant tanks in the planetary buffing process Emission Management • 01 Committed to reducing emissions like PM, SOX, and NOx 80% targeted emission intensity reduction per motorcycle by FY29-30 • Periodically monitors its ambient air quality to maintain emissions below limits set by Tamil Nadu Pollution Control Board 02 Ensure zero waste to landfill in FY23-24 Increase renewable 03 Effectively Manage energy mix from 26% in FY 22-23 to 49% in FY 23-24 Wastes Strives to achieve zero waste 22% emission intensity to landfill by implementing 04 reduction (tCO2e/motorcycle) the principles of circular economy and 'Reduce, Reuse and Recycle' across all activities 05 36% water intensity reduction (KL/motorcycle) Water Positive Operations Prioritises efficient use of water across all its operations and with sustained efforts have been water positive for 5 consecutive years. Water positivity index in FY 2022-23 was 2.6 Minimising Impact of Operations Reducing Emissions Vallam unit has a 13 MW captive solar plant which generated 1,92,87,036 KWh energy in FY 2022-23, meeting 60% of its energy requirement ERE INVESTOR PRESENTATION August 2023 Alignment to sustainable development goals (SDGs) 6 CLEAN WATER AND SANITATION 7 AFFORDABLE AND CLEAN ENERGY 9 INDUSTRY INNOVATION AND INFRASTRUCTURE 12 RESPONSIBLE CONSUMPTION AND PRODUCTION 15 ON LAND LIFE QO 50#52DA ASSAGIN ROYAL ENFIELD END PASSION WITH RESPONSIBILITY BLOATE PRID HEM DON'T DONATE 45 Me BLOOD WEAR HELMET BECOME HELLMATE CHANDI MUSIC GARH DONATE W ROYAL TN07 CR7452 Women's Safety and Gender Equality Awareness with the National Commission of Women ° In an attempt to create a safe space and a gender-neutral society, Royal Enfield partnered with NCW and State Police Department for a Gender Equality and Women Safety Awareness Ride across four major cities Delhi, Pune, Chandigarh and Bangalore. This drive was a huge success in all locations and saw the presence of senior police officials in all regions. Rekha Sharma, Chairperson of the National Commission for Women graced the occasion with her presence in Chandigarh. 7 media attended the event (Chandigarh); along with 12 hyper-local creators from all three cities. Impact garnered: 9 print media exposures, 13 online stories & 59 social media drops WHERE Helmet and Road Safety Awareness To promote the cause of helmet adoption and road safety through a unique initiative where art is used to promote road safety, Royal Enfield came together with MyFM to conduct a ride across various cities in India. The ride saw a participation of more than 360+ riders and over 9000 students from different colleges in Chandigarh, Ahmedabad and Jaipur. To leverage this event we invited 7 hyper-local creators to be a part of the ride and support the cause as well as issued a local photo release in the respective cities. Impact garnered: 34 media exposures, 24 social media drops ERE INVESTOR PRESENTATION August 2023 51#53AMONG THE INDUSTRY LEADERS IN SUSTAINABILITY Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA ESG Score 62.0 Eicher Motors is listed in the DJSI Emerging Markets Index for the second year in a row, and has maintained its position among the top 3 automotive sector leaders in India and top 10 globally. ESG Reporting 90 70 44 Governance & Economic Dimension Percentile Eicher Motors has been reporting on ESG performance and practices since 2018-19 GRI based Sustainability Report 2019, 2020 INVESTOR PRESENTATION August 2023 83 66 80 62 58 48 41 41 39 Environmental Dimension Social Dimension Overall Score Eicher Score Industry Average Score Integrated Report Since 2021 Business Responsibility and Sustainability Report in 2022 EICHEN EICHER Sustainability Report 17 52#54ESG PERFORMANCE OVERVIEW Eicher Motors ranks among the sector leaders in major ESG ratings | A | | Morgan Stanley Capital International (MSCI) Among the top 10 auto companies globally in MSCI ratings MSCI Sustainalytics 13.3 #8 out of 89 in the Automotive Industry Group SUSTAINALYTICS I ААА AA | A | BBB BBB I ESG Risk Rating 13.3 COMPREHENSIVE Low Risk BB | B I Negligible CCC 0-10 Low 10-20 Medium 20-30 High 30-40 Severe 40+ I I Dec-18 Dec-19 Dec-20 Nov-21 Jan-23 I * Data as on Apr 2023 ERE INVESTOR PRESENTATION August 2023 53#55VOLVO-EICHER COMMERCIAL VEHICLES EICHER VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE INVESTOR PRESENTATION August 2023 VOLVO EICHER FICHER 54 54#56Joint Venture since 2008: Merging the best of VISION AND VALUES To be recognised as the industry leader driving modernization in commercial transportation in India and the developing world. both worlds Respect Fair and Ethical Excellence Customer Centric VECV's Governance is based on consensus approach and 50:50 shared control. Passion VOLVO ■ Global expertise Leadership in product technology ■ Well defined processes and controls ■ Brand image ■ EICHER Leadership in Light & Medium Duty segments Frugal engineering & operations After sales infrastructure ■ Cost effective operations INVESTOR PRESENTATION August 2023 VOLVO VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE EICHER 55#570 Q1 FY 24 .. Strongest ever first quarter deliveries across segments Highest ever first quarter sales of 19,571 units exceeding previous record of 17,469 units in Q1-FY'23 HD Trucks (combined Volvo and Eicher) - Highest ever first quarter sales of 5,166 units (FY23 Q1 – 4,006 units) and market share of 9.4% LMD Trucks - Highest ever first quarter sales of 8,308 units (FY23 Q1 - 7,515 units) and market share of 36.9% Bus Division - Highest ever sales of 4,907 units in first quarter (FY16 Q1 - 4219 units) Highest ever quarterly parts business (combined both Eicher and Volvo) of 478 Cr registering more than 25% growth over Q1 FY23. • Highest ever Q1 turnover of 424 Cr by EEC, registering more than 18.5% growth over Q1 FY22. • Highest ever Q1 sales of 14816 units by VE Powertrain, registering more than 21% growth over Q1 FY23. INVESTOR PRESENTATION August 2023 VOLVO VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE EICHER EICHER SICHER 56#58Business Outlook: India's economy remains strong; risks from global geo-politics • World Bank projection of India's FY24 GDP growth at 6.3% ⚫ Jun'23 GST collection at INR 1.62 trillion with 12% YOY growth • CPI inflation moderated for 4th successive month to 4.3% in May'23 led by lower food inflation and favorable base effect • WPI contracted at -3.5% in May'23 as compared to -0.9% in Apr 23 • Merchandise exports and imports contracted by -10.3% and -6.6% in May'23 reflecting subdued global demand. • PMI manufacturing increased to a 31-month high of 58.7 on May. PMI services at 61.2 recorded second highest level in 13 years • CV sales grew by 5.9% in Jun'23 (40,157) over LYM (37,913) • Avg. crude price fell to a 17-month low of US$74.1/bbl. in May'23 Outlook • Govt spending likely to remain strong this fiscal, with focus on infrastructure investments • Economic growth driving CV demand across all sectors; likely to continue in near future, with seasonal fluctuations • Continued weakness expected in Eicher's traditional export markets INVESTOR PRESENTATION August 2023 VOLVO VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE EICHER 57#59Product range...Seamless transition to new BS VI OBD II emission standards EICHER A FICAT SICHER SECHER INVESTOR PRESENTATION August 2023 VOLVO VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE EICHER 58#60Creating a Strong & distinct association with Uptime.. VECV's uptime centre emerges as an integral part to deliver dependable trucks June11 2003 at 09:37 PM Channal The company's Pithampur uptime centre remotely monitors vehicles and provides real-time support to the vehicles being attended by its channel partners and Elcher's certified workshops across the country BY BALACHANDAR COMMENTS SHARE VECV's Uptime Centre, Pithamput Madhya Pradesh READ LATER INVESTOR PRESENTATION August 2023 VOLVO CHR UPTIME CENTERI VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE EICHER INDIA'S UPTIME CENTER REAL-TIME SUPPORT FOR Vannualnes 295TH E WORKSHOPS AXVENROUTE BREAKDOWN ASSISTANCE Call to verify impact on Vehicle and Briver instructed to take action Redime parkomence tu of Venc PIB INPERPATION SENT TERT HATUTOR 59#61MyEicher...14 Million monthly visits by 69,000 customers CV Industry Leading App Single Window to monitor all Business KPI's: Sales, Service, Spares, EOS, My Eicher, Soft Products. Actionable Insights to Review Operations: Model Wise Reporting, Manpower Productivity etc. On Demand Availability of Insights: Comparative Analysis, readymade reports. INVESTOR PRESENTATION August 2023 VOLVO VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE MY EICHER ER MPG W 1024 EICHER 60#62Continuing focus on e-mobility... New e-Bus orders under execution in Kerala EICHER CZENIA ZERO EMISSION BUS ELECTRIC Advanced projects for Small Commercial Vehicles, Hydrogen ICE, Fuel Cells, Batteries, LNG and Bio-blends INVESTOR PRESENTATION August 2023 VOLVO VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE EICHER 61#63Strengthened market share in all segments Light & Medium Duty Trucks Heavy Duty Trucks 36.9% 25.3% 1.3% FY 2009 YTD FY24 FY 2009 Buses 24.7% 5.3% FY 2009 YTD FY24 INVESTOR PRESENTATION August 2023 VOLVO Volvo Trucks India* 72.6% FY 2009 VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE EICHER 8.5% YTD FY24 94.7% YTD FY24 *Market share in high end premium segment 62 62#64CONSISTENT FINANCIAL PERFORMANCE DESPITE HEADWINDS Total CV# Volumes and Market Share (in nos and %) Total Revenue Total revenue from operations (net of excise duty) 17.5% 16.6% 17.1% 14.9% 13.3% 13.1% 12.8% 58,604 FY17 65,932 72,969 48,721 FY18 FY19 FY20 Volumes 41,267 FY21 Market Share 57,077 79,623 8,553 10,049 FY22 FY23 FY17 FY18 11,600 FY19 8,524 8,676 12,724 18,952 FY20 FY21 FY22 FY23 EBITDA^ and Margins 9.1% 8.5% 8.1% 4.9% 6.8% 5.6% 7.5% 691 919 988 415 FY17 FY18 FY19 FY20 592 FY21 716 1,387 FY22 FY23 Profit After Tax 348 472 475 58 57 108 572 FY 17 FY18 FY19 FY20 FY21 FY22 FY23 CV# - Commercial Vehicles (Domesic sales) EBIDTA - Margin EBITDA - Earning Before Interest, Tax, Depreciation and Amortisation *For the purpose of EBITDA computation, only interest income (part of other income) has been excluded from Total Income The figures in % indicate EBITDA Margins EBITDA Margin = EBITDA/Total revenue from operations (net of excise duty) *FY20, FY21 and FY22 volumes were impacted due to COVID 19 pandemic and supply chain constraints VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE INVESTOR PRESENTATION August 2023 VOLVO EICHER All figures are in INR Crs unless specified 63#65YTD FINANCIAL HIGHLIGHTS Total Revenue from Operations EBITDA^ and Margins 5.7% 7.9% Profit After Tax 3,934 4,991 218 387 69 181 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 EBITDA - Earning Before Interest, Tax, Depreciation and Amortisation ^For the purpose of EBITDA computation, only interest income (part of other income) has been excluded from Total Income The figures in % indicate EBITDA Margins EBITDA Margin = EBITDA/ Net Sales INVESTOR PRESENTATION August 2023 VOLVO VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE EICHER All figures are in INR Crs unless specified 64#66OUR JOURNEY... PERFORMING AND INK BYG GO GRANULAR INVESTOR PRESENTATION August 2023 PLA THE INFINITE GAME TRANSFORMING Profitable Sustainable Products & Operations VOLVO VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE EICHER Future Ready 65#67FINANCIAL REVIEW#68INCLUSIVE STAKEHOLDER MANAGEMENT POLICIES ERE With global operational and retail footprints and social initiatives that span the length and breadth of India and International markets, EML has a diverse stakeholder base Gunning for Growth Rise in utilization of assets High incremental return on investments Better throughput for value chain $ Improving Returns Significant value engineering initiatives Operating leverage and cash accruals Improving Value Creation Rise in absolute profits Improvement in holistic returns Higher stakeholder Unlocking the profit growth potential value creation Customers | Employees | Supplier Partners | Dealer Partners | Financiers | Shareholders | Regulatory Authorities | Local Communities INVESTOR PRESENTATION August 2023 67#69SIGNIFICANT VALUE CREATION FOR ALL STAKEHOLDERS Market Capitalisation (INR Billions) 133x returns over last 14 years 1,000- 750 500 250 36 6 17 69 161 431 520 695 772 560 357 712 673 806 980 54 0 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Jun-23 ERE INVESTOR PRESENTATION August 2023 68#70CONSISTENT DELIVERY LEADING TO STRONG Total Sales Motorcycle Volumes ('000) CASH ACCRUALS Total Revenue from operations EBITDA and Margin 29.6% 23.8% 23.8% 20.4% 21.1% 823 698 609 595 824 9,797 9,154 8,720 10,298 14,442 2,903 2,178 1,781 2,172 3,444 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 PAT Net Cash OCF 80 80 67 61 49 107 2,203 1,827 1,347 1,677 2,914 5,830 6,762 FY19 FY20 FY21 FY22 FY23 Mar-19 Mar-20 7,756 Mar-21 8,433 10,274 Mar-22 Mar-23 PAT - EPS INVESTOR PRESENTATION August 2023 Net Cash Cash and cash equivalent - Total debt 1,575 1,694 1,714 1,572 2,847 FY19 FY20 FY21 FY22 FY23 All figures are in INR Crs unless specified 69#71ERE INVESTOR PRESENTATION August 2023 200 140 YTD FINANCIAL HIGHLIGHTS Total Sales Motorcycle Volumes ('000) Revenue from operations 4,000 3.000 2.000 1.000 186 225 3,397 3,986 Q1FY23 Q1FY24 Q1FY23 Q1FY24 EBITDA and Margin 70 $1,000 1.000 0.3 1750 25.6% 24.5% 0.2 500 500 250 831 1,021 Q1FY23 Q1FY24 PAT 250 611 Q1FY23 918 Q1FY24 All figures refer to EML Consolidated numbers and are in INR Crs unless specified 70#72ERE PROFIT & LOSS STATEMENT (Consolidated) Profit and Loss Account FY19 Sales Volume: Two Wheelers (Nos.) 822,724 FY20 697,582 FY21 FY22 FY23 609,403 595,474 824,066 Q1 FY24 225,368 Total revenue from operations (net of excise) 9,797 9,154 8,720 10,298 14,442 3,986.37 Manufacturing and other expenses 6,894 6,973 6,939 8,126 10,999 2,965.53 Earnings before interest, depreciation and 2,903 2,180 1,781 2,172 3,444 1,021 tax (EBITDA) EBITDA to Net Revenue (%) 29.6% 23.8% 20.4% 21.1% 23.8% 25.6% Depreciation 300 382 451 452 526 142.27 Earnings before interest and tax (EBIT) 2,603 1,799 1,331 1,720 2,917 879 EBIT to Net Revenue (%) 26.6% 19.7% 15.3% 16.7% 20.2% 22.0% Finance Cost 7 19 16 19 28 10.43 Other Income 443 543 453 441 595 243.21 Share of profit/(loss) of joint venture 258 32 31 60 315 100.44 Profit before tax 3,297 2,355 1,798 2,203 3,800 1,211.79 Provision for taxation 1,077 527 452 526 886 293.45 Profit after tax and share of profit of Joint Venture from continuing operations 2,220 1,827 1,347 1,677 2,914 918 Discontinued Operations: Share of loss of Joint Venture* (18) Profit After Tax 2,203 1,827 1,347 1,677 2,914 PAT to Net Revenue (%) 22.5% 20.0% 15.4% 16.3% 20.2% 918 23.0% INVESTOR PRESENTATION August 2023 All figures are in INR Crs unless specified 71#73BALANCE SHEET (Consolidated) Particulars FY19 FY20 FY21 FY22 FY23 Net Fixed Assets (including CWIP and 2,324 2,690 2,748 2,929 3.162 Pre-operative Expenditure) Investments 4,923 5,749 3,902 7,721 12,101 Other Non Current Assets 180 102 125 165 252 Current Assets Inventories 633 572 875 1,132 1,278 Debtors 90 87 158 302 369 Cash and Bank Balances 2,965 2,951 5,830 2,770 857 Other Current Assets 271 299 921 1,182 1,179 Current Liabilities and Provisions 2,098 2,025 2,629 2,957 3,235 Net Current Assets 1,862 1,884 5,155 2,429 449 Total 9,289 10,425 11,930 13,244 15,963 Share Capital 27 27 27 27 27 7,003 9,954 11,411 7,030 9,981 11,438 12,581 12,608 14,963 14,990 Reserves and Surplus Net Worth Minority Interest Deferred Tax Liability (net) 274 252 222 220 291 Other Non Current Liabilities and 96 192 270 415 681 Provisions Borrowings - Current Total 9,289 10,425 11,930 13,244 15,963 ERE INVESTOR PRESENTATION August 2023 All figures are in INR Crs unless specified 72#74ERE STATEMENT OF CASH FLOWS (Consolidated) Particulars FY19 FY20 FY21 FY22 FY23 Profit before tax and after share of profit of 3,297 2,355 1,798 2,203 3,800 Joint venture Operating profit before changes in working 2,941 2,236 1,912 2,172 3,552 capital Net Changes in working capital (457) 86 258 (103) 66 Cash generated from operating activities 2,484 2,322 2,170 2,069 3,618 Direct taxes paid (909) (628) (457) (514) (770) Net cash flow from operating activities (A) 1,576 1,694 1,714 1,572 2,847 Payment for property, plant and equipment (792) (546) (555) (641) (682) Net cash used in investing activities (B) (660) (1,508) (1,648) (1,012) (2,422) Dividend paid (300) (682) (465) (574) Net cash from (used) in financing activities (C) (292) (858) (15) (587) (417) Net Increase/(decrease) in cash and cash 623 (673) 51 (44) 8 equivalents (A)+(B)+(C) Cash and cash equivalents at the beginning of the period 93 716 43 94 45 Cash and cash equivalents at the end of the period 716 43 94 50 53 INVESTOR PRESENTATION August 2023 All figures are in INR Crs unless specified 73#75O Royal Enfield 11 f Royal Enfield Royal Enfield