Investor Presentaiton

R&D Spend - Going up to 6 to 8% in the years ahead R&D% spend 7.00% 6.00% 4.49% 4.26% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 2012-13 6.00% 4.80% 2013-14 2014-15 2015-16 Higher R&D spend • In line with industry standards from 2015-16 Improved Output . Higher number of projects per year • Global development • Inhouse capabilities development

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