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L EADING V ERTICALLY I NTEGRATED G ENERIC P LAYER Investor Presentation September 2017

Safe Harbor Statement This presentation is provided for informational purposes only and does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any interest in or securities of Aurobindo Pharma, nor shall it, or any part hereof, form the basis of, or be relied on in connection with, any contract therefore. This presentation contains statements that constitute “forward looking statements” including and without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to our future business developments and economic performance. While these forward looking statements represent our judgment and future expectations concerning the development of our business, such statements reflect various assumptions concerning future developments and a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, regulatory and legislative developments, and other key factors that we have indicated could adversely affect our business and financial performance. Aurobindo Pharma undertakes no obligation to publicly revise any forward looking statements to reflect future events or circumstances. This document is strictly confidential and may not be disclosed, reproduced or redistributed, in whole or in part, to any other person. For updates and specific queries, please visit our website www. aurobindo.com 1

Executive Summary  Among the Top-3 listed pharmaceutical companies from India by sales (1) 5 th largest generic company by volume in the US (2) ; IMS TRx  represents greater than 24% growth year over year (3)  Broad portfolio of diversified dosage forms including Rx and OTC oral solids, liquids, injectables, and ophthalmics Unit IV  One of the highest rates of vertical integration, incorporating in-house API in 70% of total formulations  Global presence, with critical mass in US and EU markets Well entrenched US portfolio of 442 (4) filed ANDAs with 292 (4)  final approvals  Diversified manufacturing footprint spread across multiple regions and sites, offering extended capability and capacity Unit XV 1) FY17 sales; 2) Source: IMS MAT June 2017, 3) Source: IMS National Prescription Audit, 12 months ending June 2017; 4) As on 30 June 2017 2

Emerged into a leading global generic player 2007 2017* Revenue US$ 317 million US$ 2.3 billion EBITDA margin (%) 14.2% 22.8% Formulations 31% 80% contribution US Formulations 7% 45% contribution EU Formulations 6% 22% contribution Manufacturing 9 facilities including 3 23 facilities including 12 facilities formulation facilities formulation facilities Employees ~5,000 ~16,000 3 Note: Revenue & margin for FY2007 and FY2017. Fx rate: US$1 = Rs. 66.9685; *As per Indian Accounting Standards (Ind AS)

The Journey So Far… 2013  Commenced marketing specialty injectables in USA  Building capabilities in Penem and Oncology 2006-08  Acquired UK based Milpharm 2014  Acquired formulations facility  Acquired Western European in US commercial operations from Actavis  Investment in building  Acquired Natrol manufacturing, marketing & IPR capabilities 2015-17 2010-12  Focus on differentiated  Commenced operations of technology platforms Unit VII and Aurolife facilities  Entered into Biosimilars and  First Controlled Substance 1992-2006 Vaccines product approved in US  Commencement of export  Entered into Peptide business of APIs 2013-2017  Initial Public Offering (‘95) 2006 - 2012  Entered into formulation Consolidating business (‘02) Presence in US & EU Formulation Focus + + Expanding Injectables Pre-2006 Establishing Global & Differentiated API Focus Footprint Offerings 4

Core Strengths Scale & Operational Customer Leadership Strengths Centricity • Large manufacturing • High vertical integration • Global marketing network facilities inspected by in over 150 countries • Robust and highly scalable leading regulatory bodies • Customer centric approach formulations • Well diversified product and relationship oriented • Extensive product pipeline portfolio marketing (~150 ANDAs pending final • Large, World-class R&D • Speed and effectiveness in approval*) Centers for formulations execution • Capability and capacity and active pharmaceutical for large volumes ingredients • Diversity of dosage forms • Significant presence in the US and EU (~45% and ~22% of revenue in FY17) *As on 30 June 2017 5

Diversified Revenue Base & Strong Organic growth APIs, 20% US, 45% US, 30% APIs, 43% Gross revenue Gross revenue ARV, 8% ~US$ 1.1 billion ~US$ 2.3 billion Growth Markets *, 5% EU, 8% Growth EU, 22% ARV, 13% Markets*, 7% FY13 20% CAGR FY17** *major markets include Brazil, South Africa, Ukraine, and Mexico Gross revenue 2,500 2,000 US$ Mn 1,500 1,000 500 0 FY13 FY14 FY15 FY16** FY17** Base business Acquisitions 6 **As per Indian Accounting Standards (Ind AS)

Financial Performance Revenue from Operations (US$ Mn) EBITDA & PAT Margin (%) EPS (INR/Share) Gross Block & Fixed Asset Turnover Average ROE & ROCE % Net Debt/Eq & Net Debt/EBITDA 7 Gross Block is calculated as Tangible Assets + Intangible Assets-Goodwill * As per Ind AS, **includes sales from limited competition product

Our Business Segments US EU  Ranked 5 th* Rx supplier as per  Among top 15** Gx companies IMS total prescriptions dispensed by sales  Differentiated pipeline with new  Focus markets are France, launches including injectables, Germany, Netherlands, Spain, ophthalmics, speciality products UK, Portugal and Italy  Augment position through new and controlled substances  Expanded presence in dietary product launches and extension supplement business through to select Eastern Europe markets EU – 2 nd largest Gx Natrol US - Focus on base market for the business while  Manufacturing and R&D company capitalizing on the presence including Controlled differentiated substances product portfolio API – The Vertically ARV & Growth ARV – Institutional Integrated Business Markets  Focus on global tenders; availability across >100 countries API  Maintain competitiveness through  Cost effective with vertical development of new products integration of around 70% of API  Received FDA approval for requirement sourced internally Dolutegravir and its triple drug  One of the leading supplier of combination product under APIs from India - serves as a PEPFAR program source for various Gx and Growth Markets branded drugs • Focus on major markets: Brazil,  Strong regulatory capability with South Africa, Ukraine, and 223*** US DMF filings Mexico • Expansion into select markets of Asia Pacific, Africa & Middle East *Source: IMS National Prescription Audit, Total Prescriptions Dispensed, Twelve months ending June 2017 8 **Source: Market Reports, ***as on 30 Jun 2017

US Business Overview AuroLife Pharma Aurobindo USA AuroMedics AuroHealth Natrol Manufacturing / Oral Rx Injectables Pharma OTC Dietary Supplements R&D Cumulative ANDA Filings and Approvals Addressable 442 Therapy ANDAs Market Size 429 398 (US$ Bn) 376 113 Anti Diabetic 13 5.3 336 115 ARV* 41 8.4 147 37 269 38 CNS 82 25.2 183 145 Controlled Substances 16 2.2 36 88 CVS 70 26.3 27 26 26 Gastroenterological 28 4.9 292 276 Ophthalmics 11 0.6 215 166 165 155 Others 134 15.1 Penem 4 0.5 Respiratory 10 0.6 31-Mar-13 31-Mar-14 31-Mar-15 31-Mar-16 31-Mar-17 30-Jun-2017 Oncology 3 0.9 Final Approval Tentative Approval Under Review SSP & Cephs 30 0.9 Tentative approvals as on 30-Jun-17 include 10 ANDAs approved under PEPFAR Total 442 90.8 As per IMS MAT Jun 2017, addressable market at Orals** 243 49 Injectables US$ 90.8 Billion including ~US$ 60.3 Billion for Under Review and Tentatively approved ANDAs 29 84 35 2 *Does not include the addressable market of the products approved under Final Approval Tentative Under Review Final Approval Tentative Under Review PEPFAR Approval Approval ** includes inhalation and ophthalmic ANDAs 9