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WABCO Confidential and Proprietary

WABCO INDIA LIMITED Business Update

WELCOME

July 8, 2016

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WABCO Confidential and Proprietary

Introduction

• P. Kaniappan

Managing Director

R.S. Raja Gopal Sastry

Chief Financial Officer

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WABCO Confidential and Proprietary

Safe Harbor Statement

3

Statements in this document describing the Company's objectives, projections, estimates and expectations may be "forward looking statements" within the meaning

• f applicable securities laws and regulations. Actual results could differ materially

from those expressed or implied due to many factors. Important factors that could make a difference to the Company's operations include, among others, economic conditions affecting demand / supply and price conditions in the domestic and

• verseas markets in which the Company operates, changes in the Government

regulations, tax laws and other statutes and incidental factors. The Company does not undertake any obligation to update such forward-looking statements. All market and industry data are based on Company estimates.

WABCO Confidential and Proprietary

WABCO INDIA No.1 Supplier to Indian Market

• 1962 :

Sundaram Clayton Ltd established (TVS group and Clayton Dewandre, UK : JV)

• 1977 :

WABCO acquired Clayton Dewandre

• 2009 :

WABCO takes majority control in the brakes division of Sundaram Clayton Limited - WABCO TVS

• 2011 :

WABCO TVS became WABCO INDIA Limited

Well established to serve customers across India

2007 2005 2012 2011 2013 2008 2015 Market leader for more than five decades Sales of ₹1838 Crores in 2015-16 3,200 employees (>300 engineers) 5 manufacturing sites – fully aligned to customers’ needs

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WABCO Confidential and Proprietary

WABCO INDIA Sales Drivers

Utilizing all levers to generate sales growth

• Industry Growth
• Market Outperformance through content increase

OE

• Increase in Vehicle Parc
• New product Introduction

Aftermarket Exports

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WABCO Confidential and Proprietary

• 50%

0% 50%

• 10%
• 5%

0% 5% 10%

1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16

M&HCV Production Y-o-Y% IIP Y-o-Y%

IIP Y-o-Y % M & HCV Production Y-o-Y%

Index of Industrial Production, GDP Vs M&HCV Production

M&HCV production strongly correlated to macro economic indicators

6 200 400 600 800 1000 1200 1400 1600 50 100 150 200 250 300 350 400 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015

GDP in '000 Cr INR MHCV production in '000 Nos

HCV GDP

WABCO Confidential and Proprietary

Commercial Vehicle Legislation Update

Growth opportunities created by convergence of safety legislation

red = in discussion

7

Region Status

(April 2016)

2015 2016 2017 2018 2019 2020 2021 2022

100% ABS EPA 10 100% ABS trailer: 100% RSS EURO VI ABS N3 for dangerous goods, M3 tourist coach

ESC M & N > 11.8 t

• Autom. Driving permissible

AEBS light veh. AEBS V2X / DSRC light vehicles ESC AEBS & LDWS M & N > 3.5 t ABS Agriculture < 60 km/h

• Autom. Driving permissible

VRUD ABS N2 for dangerous goods, N3 & M3 ABS for heavy trailers BS IV (EURO IV) nationwide

WABCO Confidential and Proprietary

Global Technology Adoption

Different rates of tech adoption present a rich reservoir of organic growth

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WABCO Confidential and Proprietary

Differentiated through Sustained Technology Innovation

The leading record of “industry first” innovations for commercial vehicles

1980’s 2009 2010 1996 2000 2004 2007 2008 2001 2003 2015

Anti-Lock Braking System (ABS) Traction Control System Pneumatic Transmission Automation System Electronically Controlled Air Suspension (ECAS) Trailer EBS Electronic Braking System (EBS) Roll Stability Support (RSS) for Trailers Integrated Vehicle Tire Monitoring (IVTM TM) ECAS for automotive Electronic Stability Control (ESC) Adaptive Cruise Control d-compTM Dual Stage Compressor Trailer EBS-E Hydraulic Transmission Automation System New Generation Air Disc Brake Air System Protector RSSplusTM Roll Mitigation System OnGuardTM Collision Mitigation System h-compTM High Output Compressor OptiDriveTM Transmission Automation System OnGuardMAXTM Autonomous Emergency Braking System Trailer Telematics ESCsmartTM Simulation System Trailer OptiLoadTM c-compTM Clutch Compressor Trailer OptiTurnTM OnGuardPLUSTM Advanced Emergency Braking System TrailerGUARDTM Telematics Air Disc Brake MAXXTM22 Trailer Remote Control TailGUARDTM Rear Blind Spot Detection FuelGuardTM Electronic Air Processing Unit e-compTM Electrically Driven Compressor New Generation Automated Manual Transmission Improved Integrated Vehicle Tire Monitoring (IVTM TM) MAXXUSTM Air Disc Brake OnLaneTM - Lane Departure Warning System

2013 2011 2012

Modular EBS OptiFlowTM SideWings EBS for Hybrid Drivelines mBSP TM Modular Braking Platform EC-APU Air System Protector OptiFlowTM Tail OptiPaceTM MAXX22TTM Air Disc Brake OnGuardACTIVETM Electronic Stability Control (ESC) for Hydraulic Braking

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WABCO Confidential and Proprietary

Global Engineering Footprint

Global Product Development Local Product Development System Application & Validation INDIA SOUTH KOREA CHINA GERMANY JAPAN POLAND UNITED STATES OF AMERICA BRAZIL GREAT BRITAIN

• Leverage Indian frugal engineering

globally in all designs

• SW Competence Center in India
• Focus on System and Advanced

Development in Europe

• Follows a rigorous Six Sigma approach

R&D SPEND AS % OF SALES Year 2011 2012 2013 2014 2015

WABCO India 1.1% 1.1% 0.7% 0.7% 0.8% WABCO Group 3.8% 4.2% 4.4% 5.1% 5.3%

• Global footprint with main development sites in India, Poland & Germany

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WABCO Confidential and Proprietary

WABCO Value Proposition

Applying technology to support OEM and Fleet needs

Braking Systems Stability Control Collision Mitigation Accident Mitigation Accident Prevention Fuel Efficiency Emissions Reduction Energy Recovery Weight Reduction Maintenance Costs Driver Capability Big Data Driver Behavior Autonomous Driving Preventive Maintenance Fleet Management Solutions

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WABCO Confidential and Proprietary

WABCO Vision for Vehicle Safety

A roadmap towards a vision for zero accidents

Collision Mitigation

TailGUARDTM

Blind Spot Monitoring

Pedestrian Detection

mBSP Electronic Stability Control Blind Spot Warning Driver Behavior Monitoring Blind Spot Monitoring

Collision mitigation → avoidance Driver behavior monitoring

2025 2020

TODAY

Accident prevention Active steering Autonomous driving Safety 360°

Active Steering

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WABCO Confidential and Proprietary

WABCO Vision for Vehicle Efficiency

Leading in solutions to reduce total cost of operation 2025

Clutch Compressor/Electronic Air Processing Automated Manual Transmission Electronically Controlled Air Suspension Aerodynamics

2020

TODAY

Lightweight Air Disc Brake Next Gen Automated Manual Transmission Aluminum Compressor Electro-Mechanical Hand Brake

Adaptive Cruise Control Fuel Saving: 122gal/125,000ml CO2 Saving: 2688lbs Clutch Compressor Electronic Air Processing Unit Fuel Saving: 343gal/125,000ml CO2 Saving: 7596lbs Tyre Pressure Monitoring Fuel Saving: 370gal/125,000ml CO2 Saving: 8181lbs Aerodynamics for Trailers Fuel Saving: 793gal/125,000ml CO2 Saving: 17530lbs Automated Manual Transmission Fuel Saving: 819gal/125,000ml CO2 Saving: 18114lbs

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WABCO Confidential and Proprietary

Supplier to domestic OEMs

WABCO INDIA’s Supply Chain Leadership

Leverage powerful capabilities to deliver differentiation and value

Local manufacturing of global product

Design and manufacturing of subsystem for global OEMs

Supplier of components for global needs Design and Manufacturing of global products

2006 2014 2008 2010 2012 2016

Centre of excellence for select products

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WABCO Confidential and Proprietary

2015 Sales by Product Group

• Supplying an extensive product and systems portfolio

EBS & ESC Wheel End Compressors Air Processing Brake Controls

Electronic Controls & Monitoring Systems

Suspension Control Transmission Automation ABS Car Products

11% 11% 12% 6% 10% 4% 9% 15% 10% 9%

Telematics

3%

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WABCO WABCO INDIA

WABCO Confidential and Proprietary 777 868 732 641 856 1,202 116 177 234 470 492 637 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 Export Domestic

WABCO India Performance

Performance driven by portfolio enhancement and execution excellence

SALES IN ₹ CRORES

893 1046 966 1111 1348 1838

PBT IN ₹ CRORES

191 216 185 161 177 271 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 16

WABCO Confidential and Proprietary

Customer Awards

SML ISUZU “Product upgradation through innovation” award for the year 2015. Daimler India Commercial Vehicles “Innovation award” award for the year 2015

Recognition of excellence through awards

Ashok Leyland’s “Best in class performance in Quality” award for the year 2014-15 Tata Motors' “Supplier of the year” award for the year 2014-15 Volvo Eicher “Overall cost excellence” award for 2015

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WABCO Confidential and Proprietary

Total Employee Involvement Awards

Gold award in NIQR Six Sigma competition First prize in National productivity championship competition conducted by IMTMA

Recognition of excellence through awards

First Prize in Quality Month competition conducted by Ashok Leyland for suppliers First prize in ACMA regional QCC competition

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WABCO Confidential and Proprietary

107 145 191 407 420 497

19 33 37 55 61 75

26 27 28 29 42 70

7 12 14 14 30

2010-11 2011-12 2012-13 2013-14 2014-15 2015-16

Services Received Purchases Services Rendered Sales

Gross Transactions With Group Entities

Expanding positive trade balance by successfully supporting “make in India”

IN RUPEES (CRORES)

Gross transaction = Sales + Purchase ( goods + capital) + Services + Royalty/Technical Fees

153 212 268 504 537 672

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WABCO Confidential and Proprietary

190 1,728 3,518 5,367 7,319

1000 2000 3000 4000 5000 6000 7000 8000

18-Jun-09 18-Jun-10 18-Jun-11 18-Jun-12 18-Jun-13 18-Jun-14 18-Jun-15

Share Price in INR

Share Price Trend

Solid generation of shareholder value

5,817

31-May-16

20

WABCO acquired majority stake

WABCO Confidential and Proprietary

Conclusion

Generating future sales growth through regional content gap closure 2 Leader in technology innovation 1 3

Cyclical domestic OE business complemented by increasing exports

Perfectly positioned to convert market opportunities into shareholder value

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WABCO Confidential and Proprietary

Discussions

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WABCO Confidential and Proprietary 23

WABCO Confidential and Proprietary

Financials

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WABCO INDIA LIMITED Registered Office: Plot No.3 (SP),III Main Road, Ambattur Industrial Estate, Chennai 600058

CIN:L34103TN2004PLC054667,Ph.91 44 42242000 , Fax .91 44 42242009,www.wabcoindia.com, Email: info.india@wabco-auto.com

Part I STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31st MARCH 2016 (Rupees in lakhs) 3/31/2016 12/31/2015 3/31/2015 3/31/2016 3/31/2015 (Audited) (Unaudited) (Audited) (Audited) (Audited) 1 Income from operations (a) Net Sales / Income from operations (Net of excise duty) 53,935.86 43,200.71 36,233.78 173,985.95 127,153.44 (b) Other operating income 2,716.02 2,579.01 2,085.94 9,841.13 7,642.90 Total income from operations (net) 56,651.88 45,779.72 38,319.72 183,827.08 134,796.34 2 Expenses (a) Cost of materials consumed 38,111.51 28,775.86 22,247.80 112,109.99 79,003.25 (b) Changes in inventories of finished goods, work-in-progress and stock-in- trade (3,315.23) (1,385.76) 555.37 (2,135.97) 290.68 (c ) Employee benefits expense 4,669.45 4,534.70 3,940.25 17,378.38 14,344.87 (d) Depreciation and amortisation expense 1,467.11 1,420.33 1,209.11 5,623.69 4,666.37 (e) Other expenses 9,147.34 6,089.15 5,940.13 27,195.82 20,822.11 Total expenses 50,080.18 39,434.28 33,892.66 160,171.91 119,127.28 3 Profit from operations before other income and finance costs and exceptional items 6,571.70 6,345.44 4,427.06 23,655.17 15,669.06 4 Other income 1,020.91 606.04 590.32 3,460.96 2,029.89 5 Profit from ordinary activities before finance costs and exceptional items 7,592.61 6,951.48 5,017.38 27,116.13 17,698.95 6 Finance costs 0.06

• 16.95

0.06 36.09 7 Profit from

• rdinary

activities after finance costs but before exceptional items 7,592.55 6,951.48 5,000.43 27,116.07 17,662.86 8 Exceptional items

• 9 Profit from ordinary activities before tax

7,592.55 6,951.48 5,000.43 27,116.07 17,662.86 10 Tax expense 1,864.01 1,799.04 1,960.53 6,654.46 5,596.82 11 Net profit from ordinary activities after tax 5,728.54 5,152.44 3,039.90 20,461.61 12,066.04 12 Extraordinary items (net of tax expense)

• 13 Net profit for the period

5,728.54 5,152.44 3,039.90 20,461.61 12,066.04 14 Net profit after taxes, minority interest and share

• f profit of

associates 5,728.54 5,152.44 3,039.90 20,461.61 12,066.04 15 Paid-up equity share capital 948.38 948.38 948.38 948.38 948.38 (Face value of the Share: Rs 5/- each fully paid) 16 Reserve excluding revaluation reserves as per balance sheet of previous accounting year

• 105,816.97

85,355.36 17 (i) Earnings per share (before extraordinary items) (not annualised): (a) Basic 30.20 27.16 16.03 107.88 63.61 (b) Diluted 30.20 27.16 16.03 107.88 63.61 (ii) Earnings per share (after extraordinary items) (not annualised): (a) Basic 30.20 27.16 16.03 107.88 63.61 (b) Diluted 30.20 27.16 16.03 107.88 63.61 S.No. Particulars Quarter ended Year ended

WABCO Confidential and Proprietary

Financials

25 Part II (Rupees in lakhs) (Audited) (Unaudited) (Audited) (Audited) (Audited) A PARTICULARS OF SHAREHOLDING

• 1. Public Shareholding
• Number of Shares

4,741,900 4,741,900 4,741,900 4,741,900 4,741,900

• Percentage of shareholding

25% 25% 25% 25% 25%

• 2. Promoters and Promoter Group Shareholding

a) Pledged/ Encumbered

• Number of Shares

NIL NIL NIL NIL NIL

• Percentage of shares (as a % of the total shareholding of promoter and

promoter group) NIL NIL NIL NIL NIL

• Percentage of shares (as a % of the total share capital of the company)

NIL NIL NIL NIL NIL b) Non-Encumbered

• Number of Shares

14,225,684 14,225,684 14,225,684 14,225,684 14,225,684

• Percentage of shares (as a % of the total shareholding of promoter and

promoter group) 100% 100% 100% 100% 100%

• Percentage of shares (as a % of the total share capital of the company)

75% 75% 75% 75% 75% Particulars Quarter ended Year ended

WABCO Confidential and Proprietary

Financials

26

Statement of assets and liabilities (Rupees in lakhs) Particulars As at 31.03.2016 As at 31.03.2015 (Audited) (Audited) A EQUITY AND LIABILITIES 1 Shareholders’ funds (a) Share capital 948.38 948.38 (b) Reserves and surplus 105,816.97 85,355.36 Shareholders' funds 106,765.35 86,303.74

• 2. Non-current liabilities

(a) Deferred tax liabilities (net) 993.79 1,645.24 (b) Other long-term liabilities 3.00 3.00 (c) Long-term provisions 1,684.86 1,871.90 Non-current liabilities 2,681.65 3,520.14

• 3. Current liabilities

(a) Trade payables 34,661.89 17,790.05 (b) Other current liabilities 7,580.05 2,331.50 (c) Short-term provisions 716.88 1,402.50 Current liabilities 42,958.82 21,524.05 Equity and liabilities 152,405.82 111,347.93 B ASSETS

• 1. Non-current assets

(a) Fixed assets 37,326.79 34,137.03 (b) Non-current investments 220.24 220.24 (c) Long-term loans and advances 3,421.01 2,291.83 Non-current assets 40,968.04 36,649.10

• 2. Current assets

(a) Current investments 21,800.00 3,700.00 (b) Inventories 17,563.65 11,797.03 (c) Trade receivables 43,572.68 29,915.05 (d) Cash and cash equivalents 21,303.62 22,305.12 (e) Short-term loans and advances 7,058.20 6,812.57 (f) Other current assets 139.63 169.06 Current assets 111,437.79 74,698.83 Total Assets 152,405.82 111,347.93

• B. INVESTOR COMPLAINTS

Particulars 3 months ended 31-03-2016 Pending at the beginning of the quarter Nil Received during the quarter 1 Disposed of during the quarter 1 Remaining unresolved at the end of the quarter Nil NOTES: 1 2 3 The Company operates in one segment, namely automotive components. 4 5 6 The figures for the previous period / year have been regrouped wherever necessary to conform to the current year's classification.

For and on behalf of the Board

Chennai M Lakshminarayan 19th May 2016 Chairman The above audited financial results for the quarter ended 31st March 2016 were reviewed by the Audit Commmittee and upon its recommendation, were approved by the Board of Directors at its meeting held on 19th May 2016. The Board of Directors have recommended a dividend of Rs.---- per equity share absorbing a sum of Rs……... lakhs (including dividend distribution tax) for the year ended 31st March 2016, subject to the approval of the shareholders at the ensuring annual general meeting of the Company. The Share Transfer books and register of members of the company will remain closed for a period of 2 days commencing from 28th July 2016 to 29th July 2016 (both days inclusive) for the purpose of annual general meeting of the company . During the current quarter w.e.f January 1, 2016, the Company has entered into a revised royalty agreement for the use of technical knowhow, trademark and other services availed from group / related party. Pursuant to this agreement, the Company has recognised a charge of Rs. 1,422.22 lakhs in the quarter ended March 31, 2016

WABCO Confidential and Proprietary 27