Corporate Presentation

May 2009

2

Disclaimer

This presentation and the accompanying slides (the “Presentation”), which have been prepared by PTC India Limited (the “Company”), have been prepared solely

for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be

relied on in connection with any contract or binding commitment whatsoever. This presentation is confidential and may not be copied or disseminated, in whole or in

part, and in any manner. The information contained in this presentation is subject to change without notice and past performance is not indicative of future results.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no

representation or warranty or undertaking, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness,

correctness and reasonableness of the contents of this Presentation. This presentation has not been approved and will not be reviewed or approved by any

statutory or regulatory authority in India or by any Stock Exchange in India and may not comply with all the disclosure requirements prescribed thereof. This

Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any

omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually

and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown

risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to: the performance of the Indian economy

and of the economies of various international markets, the performance of the power industry in India and world-wide, competition, the company’s ability to

successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in

revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of

activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no

obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements, projections and industry data made by third

parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.

This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of its

should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities.

None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an

exemption from registration therefrom.

The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform

themselves about and observe any such restrictions.

All financial data for the 9 month period ended Dec. 31, 2008 are audited and the 3 month period of the last quarter and fiscal year ended March 31,2009 are

unaudited.

3

Agenda

PTC India - OverviewPTC India - Overview

Unique Business ModelUnique Business Model

Key Financials and Strong Management TeamKey Financials and Strong Management Team

HighlightsHighlights

4

Overview

Genesis of PTC

Set up in 1999 at the initiative of Government of India with the

following objectives:

Promoting power trading to optimally utilize the existing

resources;

Facilitate development of power projects under private

sector and development of power market for market

based investment in the Indian Power Sector; and

Promote exchange of power with neighboring countries.

Promoted by industry participants with a credible track record

and significant sectoral experience

NTPC - India’s largest thermal power generator

POWERGRID - India’s largest central transmission utility

PFC – Development financial institution dedicated to the

power sector

NHPC - Large hydroelectric power generator in India

Played a pivotal role in creation of power market in India

Sale of MUs increased from 1,617 MUs* in FY 2002 to

9,889 MUs in FY 2008

Sale of 11,643# MUs for period ended Dec 31, 2008

PTC Today

PTC’s business includes Short term, Medium term, Long term

(including cross border) power trading and trading of power

through India Energy Exchange (“IEX”)

PTC has now expanded its business operations and moved

towards an Integrated Energy player

PTC India Financial Services

PTC Energy Limited

Direct investments in other identified projects

Fuel Intermediation

Power Tolling Arrangements

* MUs: Million Units; # Includes trading volumes from cross border and IEX

Total MUs traded

1,617

4,178

8,88710,119 9,549 9,889

11,64311,029

-

3,000

6,000

9,000

12,000

FY 02 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 9 monthsFY 09**

** includes trades made on IEX

Source: Company

5

Shareholding Pattern

Source: NSE; As on December 31, 2008

Insurance Companies

13.7%

Others (including individuals)

19.2%

Promoters21.1%

Mutual Funds13.6%

FIIs26.9%

FI & Banks5.5%

6

Proven Track Record of Value Creation

One of the leading players in Indian Power Trading,

diversifying into related energy businesses

FY 2000FY 2002

FY 2004

FY 2009

Power trading business began operations

1,617 MUs traded

Market Cap.: INR 15,772 mn (US$ 311 mn**)

Market leader in India in trading of power

Market share of ~ 46.5%#

11,643## MUs traded

Set up in 1999 at the initiative of Government of India

Listed on BSE and NSE since 2004

Market Cap.: INR 2,400 mn (US$ 47 mn*)

*Based on the IPO price of INR 16 per share, ** Based on BSE closing price of INR 69.35 as on March 31, 2009; 1 USD = 50.64 INR

# For the 9 months ended December 31, 2008; based on data available on websites of CERC, REA and trading licensees. Includes cross border power trades, does not include power trades on power exchanges, including IEX, and is limited to trading licensees only.

## For the 9 months ended December 31, 2008; Includes cross border and IEX power trades; Source: Company

7

Uniquely Placed as an Integrated Energy Player

Experienced Team

Promoters with a credible track record and significant power sector experience

Diversified Board with well known Independent Directors

Professional and well qualified Management

Network of relationships

Strong relationships with key industry participants GoI, Utilities and IPPs

Provides an edge over our competitors in various businesses segments

Relationships with marquee investors like Goldman Sachs and Macquarie

Presence in Energy Value Chain

Power Trading Direct Investments in Power

projects Fuel Intermediation Power Tolling Arrangements Advisory Services

Strong Performance

Robust financial performance till date

Zero bad debts Revenues CAGR of 24.7% (last 3

years) Revenues for 9months FY09 were

at Rs 5,428 Cr, up ~37.4% from FY08 on account of new clients and trading on IEX

Leading Market Position

Market maker Market leader in India in trading

of power Market-share of ~46.5%* Cross border trading with Bhutan

and Nepal Co-promoter of India’s First

Electricity trading platform IEX

* For the 9 months ended December 31, 2008 and based on data available on websites of CERC, REA and trading licensees. Includes cross border power trades, does not include power trades on power exchanges including IEX and is limited to trading licensees only.

8

Indian Power Sector Scenario

Source: Planning Commission, CEA, Ministry of Power* Provisional Figure** For 2007

Historically characterized by Huge Energy Shortages Low Per Capita Consumption of Electricity**

Shortfall in Capacity Addition has aggravated power gap Key Highlights

Growth in demand for power outstripping the growth in generation and

capacity addition

High Aggregate Technical and Commercial losses of about 32%* in

FY2007

Inter regional installed transmission capacity increased from 5,050 MW at

the end of IXth Plan to 13,700 MW at the end of Xth Plan

With facilitation of inter-regional transmission, trading activities are set to

gain momentum and location constraint on generation capacity is

expected to subdue

2,9

80

1,8

02

1,6

95

64

6

61

2

56

3

2,5

96

8,3

65

0

2,500

5,000

7,500

10,000

OECDCountries

MiddleEast

China LatinAmerica

Asia India Africa WorldAverage

(kw

h/ye

ar)

591632

691

548 579625

666739

559546498 519

8.8%

9.9%

7.1% 7.3%

8.4%

9.6%

0

200

400

600

800

1,000

1,200

2002-03 2003-04 2004-05 2005-06 2006-07 2007-08

(billion units)

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

Energy Requirement (BUs) Energy Availability (BUs) Shortage (%)

31

40 41

1619 21

0

15

30

45

1992-97 1997-02 2002-07

(GW)

Target Installed

Large investment required to achieve Govt. target of per capita consumption of 1,000 kwh by 2012

9

Power Sector: Huge Capacities Planned

Plans to add 165,200 MW generation capacity in next 10 years (XIth and XIIth Plan) with transmission and distribution sector growing in parallel to support additional capacities

Source: Planning Commission, CEA, Ministry of Power

XIth Plan

132,329 MW

198,089 ckm

2008 2009 2010 2011 2012

211,029 MW

293,372 ckm

Generation: Capacity addition of 78,700 MW planned during XIth Plan period

36,874 MW (46.9%) in central sector;

26,783 MW (34.0%) in state sector; and

15,043 MW (19.1%) in private sector

Transmission: to add 95,283 ckm transmission lines

AC Substation capacity to increase by 176,561 MVA

Inter regional transmission capacity to increase by 23,450 MW

Distribution: to focus on village and household electrification

Continuation of ARDRP with revised terms focused on reduction of AT&C losses

251,439 MVA

428,000 MVA

10

Agenda

PTC India - OverviewPTC India - Overview

Unique Business ModelUnique Business Model

Key Financials and Strong Management TeamKey Financials and Strong Management Team

HighlightsHighlights

11

Growth Strategy - Presence in Energy Value Chain

Power Trading

Short Term trading

Medium Term trading

Cross Border trading

Trading on Power exchange

Long Term trading

Fuel Intermediation

Long Term Arrangement to

secure fuel

Power tolling arrangements - to

encourage additional generating

capacities to come up

Opportunities being explored

with various strategic partners

for acquiring coal assets

Subsidiaries, Associates and Investments

PTC India Financial Services

PTC Energy

Athena Energy Ventures

Teesta Urja

Krishna Godavari Power Utilities

Wind Power

Barak Power Private Limited

Capture Greater Share Of Energy Value Chain By Diversifying Into Related Energy Businesses

Advisory Services

12

Early movers in Short Term Power Trading

Market leader in power trading

Traded volumes* increased from 1,617 MUs in FY

2002 to 9,889 MUs in FY2008

Sale of 11,643# MUs for period ended Dec 31, 08

Transactions cover most of the State Electricity

Utilities in the country

Business focuses on identifying parties with a surplus of

power and parties with a deficit of power at particular

times and for specific durations

Various products created to provide flexibility to its clients

Round the clock power

Evening or Morning peak/ Afternoon or Night off-

peak power

Specific time blocks for 6 to 18 hours

Weekend or Holiday power

Day ahead power, also through IEX

Energy Banking

NORTHERN

WESTERN

SOUTHERN

EASTERN

NORTH EASTERN

Traded volumes for 9 months ended Dec 31, 2008;

Purchase and Supply figures include cross border trades

Source: Company

Purchase: 418 MUs

Supply: 5030 MUs

Purchase: 319 MUs

Supply: 996 MUs

Purchase: 114 MUs

Purchase: 1174 MUs

Supply: 426 MUs

Purchase: 3515 MUs

Supply: 4829 MUs

*Includes trading volumes from cross border

#Includes trading volumes from cross border and IEX

Supply: 8 MUs Purchase: 5579 MUs

NEPAL BHUTAN

Map not to Scale

13

Cross Border Trades with Bhutan and Nepal

Bhutan

Long term agreements in place for purchase of power from

Bhutan

Chukha: 336 MW

Kurichhu: 60 MW and

Tala: 1,020 MW

From the above mentioned three active projects in Bhutan,

PTC purchased

5,228 MUs in FY 2008

5,579 MUs for 9 month period ended Dec 31, 2008

Nepal

Long term agreement initialed for purchase of entire power

from 750 MW West Seti hydro-electric power project in Nepal

The purchase of power has not started as yet

Active engagement in the development of Indo – Nepal

transmission interconnection for enhancement of power trade

PTC is also a member of Indo-Nepal Power Exchange

Committee

Nepal

West Seti: 750MW

Bhutan (1416 MW)

Chukha: 336MW

Kurichhu: 60MW

Tala: 1,020MW

Capacities available to PTC for cross border trades

Map not to Scale

14

Long term arrangements for trading business

Strategizing to increase the volume and mix of Medium and Long

term trading contracts

To reduce volatility in trading volumes

Entering into Long term PPAs with new IPPs and Captives with

surplus capacity

Investments into power projects to increase the trading volume

PTC has entered into PPAs and MoUs to procure long term power

PPAs** initialed/ signed for 11,226 MW*

MoUs for Long Term Purchase for 25,907 MW*

PTC has entered into PSAs/ MoUs^ to ensure long term sale of

power

PSAs finalised for 4,790 MW*

MoUs signed for 1,200 MW*

As of March 31, 2009, 37,133 MW of PPAs/ MoUs initialed/ signed and 5,990 MW of PSAs/ MoUs signed

*As of March 31, 2009; **Includes West Seti (750 MW) hydro project in Nepal, Chukha (336 MW), Kurichhu (60 MW) and Tala (1020 MW) in Bhutan;^includes PSAs for cross border power from West Seti, Chukha, Kurichhu and Tala

Haryana (1335MW)

J&K (18MW)

Rajasthan (219MW) Uttar Pradesh (595MW)

Madhya Pradesh (700MW)

Chandigarh (250MW)

States with PSA/ MoU signed

IPPs with PPAs

Punjab (1542MW)

Sikkim (7MW)

Bihar (360MW)

Jharkhand (153MW)

West Bengal (527MW)

Orissa (253 MW)

Delhi (30MW)

Map not to Scale

15

Investments in Energy Value Chain: PFS

Scope of business activities

Invest in Greenfield projects, Brownfield projects and provide expansion capital on an ongoing basis

To the companies engaged in identified target sectors

Term Financing

Financial solutions and advisory

Strategic financial partnership in PTC India Financial Services to bring in: Fund management best practices Strong relationship with global investors

To provide Investment and Financing solutions for the broader Energy Value Chain

Investment Spectrum

Power Exchange

Tolling projects

Biomass projects

Wind projects

Thermal projects

Solar projects

Investment in cross border transmission link

16

Thermal - Coal Projects

Wind Projects

Biomass Projects

Investments in Energy Value Chain: PFS

Power Exchange

Investment Highlights

26% stake in 189 MW project in Tamil Nadu 26% stake in 270 MW project in Andhra Pradesh* 10% stake in 700 MW project in Tamil Nadu* Proposed investment up to Rs 500 million in 300 MW project in Maharashtra*

Solar Projects

Electricity Equipment

India’s first electricity trading platform Made investment for 26% stake Total volumes traded approx. 3,540 MUs as of December 31, 2008

26% stake in an SPV - 10 MW Biomass project in Maharashtra 26% stake in a holding company, which will undertake series of 12 MW biomass projects across India

37% stake in upcoming 99.45 MW integrated wind cum bio-diesel project in Maharashtra

37% stake in a 3 MW solar power project in Haryana*

Investment of Rs 33.7 million for Wind turbine manufacturing unit in Haryana

Strong disbursal record – Total commitments of Rs 3,763.81 million for projects aggregating to 1,572 MW capacity and made disbursals of Rs.1,397.63 million till March 31, 2009

* Sanctioned by PFS, disbursement yet to take place

17

BARAK POWERBARAK POWER

WIND POWER ASSETSWIND POWER ASSETS

KRISHNA GODAVARI KRISHNA GODAVARI POWER UTILITIESPOWER UTILITIES

TEESTA URJA LIMITED TEESTA URJA LIMITED (TEESTA URJA)(TEESTA URJA)

Investments in Energy Value Chain (Cont’d.)

ATHENA ENERGY ATHENA ENERGY VENTURES (ATHENA)VENTURES (ATHENA)

Business Description Investment and Stake

Power project developmental company across generation, transmission and distribution assets

Subscribed for 20% equity stake in Athena for a commitment of INR 1,500mn

Invested INR 300 mn*

Current status

Athena won a bid to construct a 3000 MW Hydro plant in Arunachal Pradesh

Developing 2 coal based thermal power projects in Andhra Pradesh and Chattisgarh – 2640 MW

1,200 MW hydro electric project based in Sikkim, India

Board approval for subscribing to 11% stake in Teesta Urja for a commitment of up to INR 1,360 mn

Invested INR 1,254 mn*

Achieved Financial Closure Expected to be commissioned by

FY 2013

63 MW imported coal based project in Andhra Pradesh

ESA signed for subscribing to 52% equity stake in Krishna Godavari for a commitment of up to INR 400mn

Invested INR 152.5 mn*

Achieved Financial Closure Expected to be commissioned by

FY 2010

6 MW capacity wind power project in Maharashtra

Direct execution of project by PTC Project cost of INR 361 mn

Commissioned in March 2008 Agreement with MSEDCL for

purchase of power

A Joint Venture between PTC and BHEL for setting up 2x125 MW coal based thermal power station at Silchar, Assam

Subscribed for 50% equity stake in the JV

Expected to be commissioned by FY 2014

* As of December 31, 2008

18

Fuel Intermediation

PTC plans to play the role of aggregator of fuel

Intend to purchase imported coal from individual

suppliers

Arrange for the aggregated amount to be sold to

power plants for processing

Such fuel would also be used for PTC’s Power Tolling

Arrangements

Presently in discussions to enter into long term

arrangement to secure fuel

PTC has entered into MOU with Indonesian coal mine

for supply of 1 million tons of thermal coal annually for

a period of (15 + 5 years), terms of which are under

negotiations

In addition, the other options are also being evaluated

Opportunity to be a strategic partner in a vehicle for

acquiring coal assets

PTC plans to invest into coal assets overseas for securing

fuel supplies

Long term arrangements

Long term arrangement for supply of 1 mtpa coal

Investment in vehicle

Opportunity to be a strategic partner in a SPV

Acquiring coal mines

equity stakeMoU/ Arrangements

19

Power Tolling Arrangements

Power Tolling Arrangement

PTC to procure fuel (coal) for the power plant and

pay an energy conversion charge to IPP

The power so procured is to be owned and traded

by PTC

Power Tolling Agreements (“PTA”) for 360 MW (in AP)

with 2 power projects already in place

PTA for a period of 25 years signed with two power

projects of 270 MW capacity each

Both the projects are based on imported Coal and

PTC needs to arrange for the imported coal

PTC has entered into MoU with Indonesian coal mine for

supply of 1 million tons of thermal coal annually for a

period of (15 + 5 years), terms of which are under

negotiations

In addition, the other options are also being evaluated

UTILITIES

Purchase of coal at competitive prices

Supply of coal to IPP as per PTA

Purchase of power after paying conversion

charge

Sale of power at market prices

20

Uniquely Positioned: Relationships

Historical Relationships

Government of India

Government of Bhutan

Public Sector Undertakings

State Governments and State Utilities

Independent Power Producers

Financial Institutions

Reputable financial investors

Indo Norwegian Program for Institutional

Cooperation (INPIC)

United States Energy Association

New Relationships

Athena Power Projects Limited and IDFC

Partners in Athena Energy Ventures Limited

Nepal Electricity Authority

Partners in Transmission Venture

Financial Technologies of India Limited

Partners in India Energy Exchange

Goldman Sachs and Macquarie

Strategic financial partners in PTC India

Financial Services Limited

BHEL

JV partner in Barak Power Private Limited

Leveraging on established relationships to diversify into new businesses and develop new relationships

21

Agenda

PTC India - OverviewPTC India - Overview

Unique Business ModelUnique Business Model

Key Financials and Strong Management TeamKey Financials and Strong Management Team

HighlightsHighlights

22

PAT (in INR mn)

Key Financials

Revenues (in INR mn)

20,373

31,205

37,859 39,493

54,280

0

10,000

20,000

30,000

40,000

50,000

60,000

FY 2005 FY 2006 FY 2007 FY 2008 9 months FY 2009

Key Financial Highlights

Revenues growing at a CAGR of 24.7% over the last three years

Revenues for 9 months FY09 were at Rs 5,428 Cr, up ~37.4% from FY08 on account of

New clients and

Trading on IEX

243

406352

486

753

0

200

400

600

800

FY 2005 FY 2006 FY 2007 FY 2008 9 months FY2009

23

Strong Board and Management Team

Senior Management Team Years of experience

Board of Directors

Mr. T. N. Thakur Chairman and MD 32

Mr. Shashi Shekhar Director 28

Mr. Deepak Amitabh Director 24

Mr. Ashok Haldia Director 27

Mr. Arun Bhalla Executive Director 34

Mr. S. S. Sharma Executive Vice President 34

Mr. Rakesh Kumar Executive Vice President 27

Mr. Arun Kumar Executive Vice President 32

Mr. Sanjeev Mehra Executive Vice President 26

Mr. R. C. Chaudhary Vice President 34

Mr. P. Varshney Vice President 32

Mr. Harish Saran Vice President 21

Mr. V. S. Bisht Vice President 24

Mr. Hiranmay De Vice President 22

Ms. Puja Mehrish Vice President 21

Mr. Bimal Dhar Vice President 28

Ms Padma Rao Vice President 15

Mr. Suman Ghosh Vice President 20

Mr. T. N. Thakur Chairman and MD

Mr. Shashi Shekhar

Mr. Deepak Amitabh

Mr. Satish Mehta

Director

Director

Director – Jt. Secy MEA

Mr. I.C.P.Keshari Director – Jt. Secy MoP

Mr. I. J. Kapoor Director (Nominee of NTPC)

Mr. M. K. Goel Director (Nominee of PFC)

Mr. A.B.L Srivastava Director (Nominee of NHPC)

Mr. R. G. Yadav Director (Nominee of POWERGRID)

Mr. G. P. Gupta Independent Director

Mr. D. P. Bagchi Independent Director

Mr. M. S. Verma Independent Director

Mr. P . Abraham

Mr. S. Balachandran

Independent Director

Independent Director

Professionally managed company with corporate governance structure in line with global best practices

Experienced and stable senior management teamCorporate governance structure in line with

global best practices

24

Agenda

PTC India - OverviewPTC India - Overview

Unique Business ModelUnique Business Model

Key Financials and Strong Management TeamKey Financials and Strong Management Team

HighlightsHighlights

25

Highlights

Steady Progress to emerge as an Integrated Energy PlayerSteady Progress to emerge as an Integrated Energy Player

Demonstrated Growth in Core Trading BusinessDemonstrated Growth in Core Trading Business

Presence in Energy value chain by diversifying into related Energy BusinessesPresence in Energy value chain by diversifying into related Energy Businesses

Experienced and Strong Management TeamExperienced and Strong Management Team