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Corporate Presentation

December 2019

Agenda

Eros Now: #1 SVOD Platform for Indian Content

Eros Today

Financial Overview

Senior Leadership Team

Kishore Lulla

Group Executive Chairman and CEO

⚫ Pioneer in global Indian film and

entertainment industry

⚫ Cultivated and developed many of

Bollywood’s leading talent over

many years

⚫ Over 35+ years experience in the

media and film industry

⚫ Indian Film Academy Award in 2007

for contribution to Indian Cinema

⚫ Featured in Variety list of top 500

influential business leaders

⚫ Global Citizenship Award 2014 by

the American Jewish Committee

⚫ Executive Board member of the

UCLA school of Theater, Film and

Television

Prem Parameswaran

Executive Director, Group Chief

Financial Officer and President of

North America

⚫ Former Global Head of Media and

Telecommunications Investment

Banking at Jefferies

⚫ Deep experience (23+ years) in

global media & telecom having led

over 300 transactions at Salomon

Bros, Goldman Sachs and

Deutsche Bank

⚫ Boards: Columbia University

Alumni Trustee Nominating

Committee; Program for Financial

Studies Columbia Business School

⚫ Appointed to President Trump’s

Advisory Commission on Asian

Americans and Pacific Islanders

⚫ Columbia University, BA, MBA

(Honors)

Rishika Lulla Singh

Executive Director, Chairman of Eros

Digital

⚫ Chairman of Eros Digital, which

covers all digital initiatives for

Eros

⚫ Creator and Leader of largest

global Indian OTT platform –

Eros Now

⚫ Grown Eros now to 177.7 m

users and 23.5 m paying

subscribers globally in less than

4 years

⚫ Winner of “Youngest

Entrepreneur of the Year” 2016,

featured in Top Women CEOs by

India Today among other awards

⚫ One of ‘40 under 40’ 2018 BW

Businessworld Awards

⚫ UCLA, BA

Mark Carbeck

Chief Corporate and Strategy Officer

⚫ Former Media banker in

Citigroup’s Global Investment

Banking Division covering

European and emerging

market media companies

⚫ Responsible for M&A,

corporate finance, investor

relations and group strategy

⚫ Over 18 years of experience

in corporate finance with

strong experience in the

Media sector

⚫ Involved in over 80

transactions in the global

Media sector

⚫ University of Chicago, BA

Over 80 years of combined industry and management expertise. Supported by senior industry executives

organized by business unit, and over 420 full-time employees operating in India and around the world.

Culture of innovation and partnerships with leading international talent

Eros Now strategically positioned to capture large digital opportunity in India

Highly attractive market opportunity driven by secular tailwinds

Eros Highlights

Largest content library of Indian language films with over 12,000 digital rights

4

5

3

2

The global leader in Indian film entertainment with #1 box office market share1

Experienced management team with track record of execution6

Eros: Leading From The Front

1

Source: World Bank, IMF, OECD, Euromonitor International, United Nations, Wall Street Research

1. As per FICCI – EY Report

Massive PopulationFast Growing Economy

India: Leading Economic and Population Growth

Strong Growth in Entertainment MarketIncreasing Annual Disposable Income

7.4%

2.6%

1.3

0.3

India USA

Projected GDP Growth Rate 2019E (2017, Billions)

More Movies Made, and More Tickets Sold in India, Than in

Any Other Country1

$1,559

$1,753

$2,027

2012A 2014A 2016A

(India, USD)

~18% of

World Population

1013

2

32

3$ 14

$ 19

2017A 2020E

TV Film (Theatrical) Digital Media

(USD in bn)

Eros International Plc

FY 2019 Revenue: $270.1 mm

FY 2019 Adj. EBITDA: $103.8 mm

Adj. EBITDA Margin: 38.4%

Financial Summary

Overview of Eros

Global, Multi-Channel Monetization

177mm+

Registered

Users

23.5 mm+

Subscribers

12,000+

Digital Film

Rights

Largest

Share of

Indian OTT

Film Content

World’s Leading Indian Digital Entertainment Platform

(Subsidiary of Eros International)

3,000+ Film

Library

100,000+Audio

Tracks

27%+ Box Office

Market Share

GlobalDistribution

In-House Production /

Co-Production

Film Acquisition /

Distribution

India’s #1 Film Studio

OTT PlatformFilm Studio

Theatrical

Freemium Pay Per View Subscription

Advertising

Bundled Services

TV Syndication

AD

$$$ $$

1. Eros PLC delisted from LSE AIM market and commenced trading its ‘A’ ordinary shares on the NYSE

Key Milestones

Pioneer and Innovator in Indian Film with 40+ year track record

2007–

2008

Founded; began

acquiring

international IP

rights for Indian

content

Early adopter of

VHS distribution

1977

1981

Launch of

first digital

Bollywood

TV network

1982–

1998

First Indian media

company to list on

AIM

Adoption of

vertically integrated

mode

SVOD agreement

with

Launch of

Channel

2015

Expanded

distribution

partnerships in

India + Overseas

15.9mn+ Eros now paid

subscribers (Dec-2018)

Eros Now registered

users over 142mn)

Investment from

Reliance Industries

2017

2006

2016

2018

Established

global distribution

network outside

India

Launched Digital

distribution channels:

Listed EIML

on the

Listed Eros

PLC on

Announced Techzone

acquisition

(1)

Eros Now official

marketing launch

(Jul-2015)

5mn+ Paid

subscribers of Eros

Now (Dec-2017)

80mm+ registered

users on Eros Now

(Dec-2017)

2010–

2014

Film Diversification

Films produced across

languages, genres and

budgets to capture the

larger market share and

maximize cash flows

Film Slate in FY19 and

FY20 is structured with

a focus on diversification

across budgets and

languages

Disciplined Green

Lighting Process &

Risk Sharing Contracts

with Talent

Extensive evaluation of

films before green

lighting by a committee

led by senior

management and

business heads

Pioneered risk sharing

contracts with talent in

Indian film industry

Monetization Across

Global Platforms

International distribution

presence across 50+

countries

Extensive monetisation

of movie assets for 12

months after the

theatrical release date

through multiple

channels

Monetization Across

the lifecycle of a Movie

Proven pre-sales

monetisation model to

mitigate new production

risks

Licensing of television,

music and other

distribution rights prior to

a film’s completion

enhances revenue

predictability

Business Strategy

Effective Risk Mitigation Framework Underlying the Business Strategy

Source: Eros International Plc filings, Management

New Film

Mix 40–50 Films

Each Year

• Hindi

• Regional

Language

• International

Agreements

Co-Production Acquisition

Premium Content Library

3,000+ Film Library

12,000+ Digital Film Rights

5,000+ into Perpetuity

Digital Premiere Window

100+ Originals over next 18 months

4,400 Short-form Videos

9 IIFA

Awards

1 Filmfare

Award

12 IIFA

Awards

1 IIFA

Award

1 TOIFA

Award

1 TOIFA

Award

1 IIFA

Award

Released

Jan 2018

Deep and rich content library – underpinned by long-term rights to premium content

Deepest and Richest OTT Library including Largest Box Office Hits

1. Represents % of total estimated Indian OTT library of ErosNow, Hotstar, Amazon Prime Video, Netflix and Zee5.

2. Full list of films in Appendix

Indian Film OTT Library by Platform

Over the last 10 years Eros has been responsible for 36 of the top 110 highest grossing box office films in India2

22%

16%

19%

16%

12%

2%

12%1%

41%

22%

16%

5%16%

31%

3% 7%

20%

39%

11%7%

10%1%

14%

1%

12%4%

2%

18%

32%

19%5%

11%

10%

1%

21%

15%

65%

6%

10%

10%

6% 3%

5%

% of Total OTT Library1

Reliance Industries: An Industry Defining Partnership

Source: Eros International Plc filings, Press reports

Reliance: Eros Investment Adds to Significant Media & Telecom Presence in India

A Mutually Beneficial Strategic Partnership with India’s Largest Conglomerate to Consolidate Indian Content

$150mmJoint production and

acquisition fund

⚫ Leading LTE mobile network in India

⚫ Over 215mm subscribers and ~48% wired &

wireless broadband market share

⚫ Leading Indian news and entertainment

network

⚫ 60 channels with presence in 27 states and 12

languages

5% Minority Investment

in Eros (Completed

August 2018 at $15.00 /

share)

Symbiotic relationship with Reliance’s Jio to create high efficient unit economics for the Eros Now OTT platform

Reliance’s production expertise to further bolster expansion and development of Eros’ original and short-form content

CapitalDistributionContent Engagement

Investment to dramatically scale Eros’ capabilities in content production, marketing, and distribution

“We are pleased to join hands with Eros, as it will bring further synergies into

our plans, making for a win-win partnership”— Mukesh Ambani, Chairman, Reliance Industries

~78%

JV with

⚫ Leading Indian film production and

distribution studio, with leading OTT platform

⚫ 40-50 films per year, library of 3,000+ films, with

12,000+ digital rights5%

⚫ Leading Indian scripted TV production studio

⚫ Produced over 17,000+ hours of television

content and 34 movies~25%

Eros Now

Distribution

Extensive Talent Relationships

Select Leading Actors

Select Leading Directors

Amitabh

Bachchan

3 IIFA Awards

4 NFA Awards

Shah Rukh

Khan

5 IIFA Awards

Salman

Khan

1 IIFA Award

2 NFA Awards

Ranveer

Singh

3 IIFA Awards

Deepika

Padukone

4 IIFA Awards

1 NFA Award

Priyanka

Chopra

3 IIFA Awards

1 NFA Award

Anushka

Sharma

3 IIFA Awards

Sanjay Leela

Bhansali

4 IIFA Awards

2 NFA Awards

Anand

L. Rai

1 BIG Award

1 Stardust Award

Kabir

Khan

1 IIFA Award

1 NFA Award

Raj & DK Anurag

Kashyap

2 IIFA Awards

Sujay

Dahake

1 NFA Award

Note: IIFA = International Indian Film Academy. NFA = National Film Awards.

Eros Presence in China: the World’s Largest Film Market

Shanghai Film Group

Corporation Fudan UniversityChina Film Group

Corporation

High Budget Indian

Film Hit in China

$45mm+China Box Office Gross

(Since Release)

#5Indian Film in China

$47mm+ China Box Office Gross

(In First Four Weeks)

#3Indian Film in China

iQiyi Partnership

1,000+Indian language titles

licensed to streaming

platform iQiyi

500mm+iQiyi Monthly

Active Users

Film Distribution Partnerships

11.6%2016-21E Growth

$10.7 BillionChinese Movie Market1

54,165Total Screens in 2018(2)

80,000+Screens Count by 2021

Chinese

EntertainmentMarket

100+Wasu Media covers

over 100 Cities in

China

Wasu Media

Partnership

125mm+Wasu media

consumers in China

Eros Now: Leading OTT Platform2

Eros Now: World’s Leading Indian Digital Entertainment Platform

135 Countries incl. India

177 M+ Registered Users

23.5 MPaying Subscribers

12,000+Digital Rights

✓

✓

✓

✓

Our Addressable Market is a Quarter of the World’s Population

6.5M

North America

Target Population

5M

Europe Target

Population

16M

Middle East

Target Population

1.3B

India

Population

423M1

Pakistan + South

East Asia Target

Population

0.8M

Australasia Target

Population

Key Markets

Note:

1. Includes Pakistan, Bangladesh, Malaysia, Bhutan and Nepal

52%

21%

11% 10% 4%

Jio Airtel Vodafone Idea BSNL

Source: FICCI Report, CIA World Factbook, Telecom Regulatory Authority of India, Ericsson Mobility Report, Statista. Note: Vodafone India and Idea Cellular merger pending.

1. 2016A.

2. Includes non-smartphone mobile internet users.

Strong Mobile Internet User GrowthA Young, Technologically Savvy Demographic

India: Compelling Digital Trends, Underpinned by Mobile

Video Dominates Mobile Internet Usage in India A Handful of Telcos Control the Market

27.6

37.9

481

829

2017A 2021E

Median Age Millions2

Video

49%

Web and Other

Data

39%

Streaming Audio

10%

File Sharing

2%

Mobile Internet Usage in India (2017E)

→ 75% by 2021E

27% Internet

Penetration1

87% Internet

Penetration1

Wired & Wireless Broadband Market Share (Aug-2018A)

96% Wireless Subscribers

In December 2017 India Reached 1.2 Billion Mobile Phone Subscribers, with Only 25% Smartphone Penetration

1. Paying subscribers means any subscriber who has made a valid payment to subscribe to a service that includes the Eros Now service either as part of a bundle or on a standalone basis, either directly or

indirectly through a telecom operator or OEM in any given month be it through a daily, weekly or monthly billing pack, as long as the validity of the pack is for at least one month

Eros Now: #1 SVOD Platform for Indian Content

12,000+Digital Film Rights

5,000+Into Perpetuity

Multi-Channel

Customer AcquisitionWAP APP Web

Rapidly Growing Paid Subscriber Base…

2.1 2.9 3.75.0

7.910.1

13.0

15.9

18.8

21.1

23.5

FY'17A Q1' FY'18A Q2' FY'18A Q3' FY'18A FY'18A Q1' FY'19A Q2' FY'19A Q3' FY'19A Q4' FY'19A Q1' FY'20A Q2' FY'20A

Eros Now Paying Subscribers1

(mm)

Reached FY19 guidance of 16m paying subscribers early - in less than nine months. Now targeting over 50 million

paying subscribers in 3 years.

Both partnerships will help Eros Now platform enhance and strengthen its

reach globally and drive consumer engagement.

▪ On Sep 19, 2019, Eros announced a

commercial partnership with Microsoft

▪ Transform the content streaming

experience for consumers globally

▪ Help Eros Now develop a new intuitive

online video platform through Microsoft

Azure

▪ Create new interactive offerings for

consumers including video and voice

search for content across multiple

languages

Eros Now: Key Strategic Partnerships to Fuel Growth

▪ On Nov 18, 2019, Eros announced a

collaboration with YouTube Music India

▪ Unique subscription package to bring

extensive Eros Now movie and music

catalogue to YouTube Music consumers

▪ Competitively-priced offering to appeal to

broad mass market in India

▪ YouTube music is currently one of the top

sources for streaming music in India

Cutting-Edge Eros Now Originals Support User Acquisition

Image Source: theverge.com

New Distribution Channel – Apple TV+

Announced on March 25, 2019 at the latest Apple Event

Source: Company Filings, Company Websites

Unique Combination of Expansive Content and Proprietary OTT Platform

Studios OTT Players in India

Co

nte

nt

Original Content

Production ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

Leading Library

of Indian Films ✓ ✓ ✓ ✓

Pure-Play Media

Company ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

Pla

tfo

rm

Proven OTT

Platform ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

Scaled User

Base ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

Subscription

Platform ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

(Hotstar)

Customer Acquisition Strategy –B2B Partnerships

239mm Subs 224mm Subs 346mm Subs 217mm Subs

Source: Eros International Plc filings, Bloomberg. Market data as of January 9, 2019, Subscribers data as of August 2018 - TRAI Press Release No. 107/2018

Note: Vodafone India and !dea Cellular merger pending completion

1. Calculated using latest reported basic shares outstanding multiplied by share price. $ in billions. 2. Vodafone Idea have merged into a single entity but they still operate as different telecom operators

Major Indian Telco Partnerships Underpin Sustainability of Eros Now’s Moat: Distribution capability for Eros Now and access to the largest and linguistically most diverse digital Indian film library for telcos

Parent Company

Market

Capitalization1 na na

Eros Now SVOD

Long Term

Revenue Sharing

Agreements

✓ ✓ ✓ ✓ ✓

Long-Standing

Relationship ✓ ✓ ✓ ✓ ✓

$100bn$53bn

$19bn

Major Indian Telco Partnerships

113mm Subs

(2)

Total Wireless

Subscribers

Unique Distribution Model –Direct to Consumer and Other

TELCO / ISP WALLETS

International

OEM

(Partner Channel)

STREAMING

OTHER

Free

Premium

Pricing Strategy Key to Monetization

✓ Immediate access to exclusive new content and full

library

✓Offline viewing; Multi-screen / multi-member

✓Ad-free

✓HDTV

India International

Tier 1 Average Pricing: RS. 50/month (c. $0.80)

Tier 2 Average Pricing: RS. 100/month (c. $1.60)

✓ Immediate access to exclusive new content and full

library

✓Streaming service; No download

✓Ad-free1

2✓Sample user experience – encouraging users to

upgrade to premium services

✓Delay in accessing new content available to

premium subscribers first

Average Pricing: $7.99 / month or $79.99 / year

Sophisticated Free → Premium conversion strategy

Financial Overview

3

Conservative Balance Sheet

Select Balance Sheet Items Strong Liquidity Profile – Cash Balance

($mm) 30-Sep-19

Total Cash & Cash Equivalents $99.4

Gross Debt(2) $212.0

Net Debt $112.6

Shareholders’ Equity (Book value) $701.5

Total Capitalization (Book value) $913.5

LTM Adj. EBITDA $75.3

Net Debt / LTM Adj. EBITDA 1.50x

Total Debt / Total Capitalization 23.21%

258 315 270 294303 277

Current Debt Facilities

Indebtedness as on

Sep 30, 2019

Senior Convertible Notes 53.8

Retail Bond 61.5

Term Loans 25.6

Working Capital Loans 71.5

Unamortized Cost (0.5)

Gross Debt 212.0

Declining Leverage

3.2x 3.1x

4.3x4.8x

3.5x

2.7x2.3x

2.8x

1.4x 1.6x 1.7x

2.8x2.4x

1.4x 1.5x 1.5x

FY14 FY15 FY16 FY17 FY18 FY19 Q1 FY20 Q2 FY20

Gross Debt / Adj. EBITDA Net Debt / Adj. EBITDA

113 161

120 158

189 145 140

113

145

154 183 112

88 136

81 99

FY14 FY15 FY16 FY17 FY18 FY19 Q1 FY20 Q2 FY20

($mm)

Net Debt Cash Gross Debt

281 221 212

(1) Paying subscribers means any subscriber who has made a valid payment to subscribe to a service that includes the Eros Now service either as part of a bundle or on a standalone basis, either directly or

indirectly through a telecom operator or OEM in any given month be it through a daily, weekly or monthly billing pack, as long as the validity of the pack is for at least one monthNote: Fiscal year end March-31. $ in

millions.

Growth from Successful Execution of Renewed Strategy

Revenue Growth

Declining Net Debt

158

189

145

FY17 FY18 FY19

($mm)

(1)

253261

270

FY17 FY18 FY19

($mm)

Adj. EBITDA Growth

5683

104

FY17 FY18 FY19

($mm)

Declining Receivable Days

367 355297

FY17 FY18 FY19

(#days)

11% 4%

22%17%

10%

67% 79% 90%

FY17 FY18 FY19

($mm)

High Medium Low

Greater Mix of Medium and Low Budget Movies

Exponential Growth in Eros Now Paid Subscribers

2.1

7.9

18.8

FY17 FY18 FY19

Total Paying Subscribers(1)

(#mm)

Group Structure

Note: Company structure and holdings as of December 31, 2018.

Eros International Plc

(Isle of Man)PublicFounders Group

31.13% 68.87%

Other International

Subsidiaries

100.0%

Eros Digital Private

Limited (India)

99.9%

39.66%

22.72% 37.62%

Eros Worldwide

FZ-LLC (UAE)

100.0%

Eros Digital Limited

(Isle of Man)

100.0%

Eros International Media

Limited (India)

Other Subsidiaries

NYSE Listed Entity BSE Listed Entity Other subsidiaries

Public

Eros Digital FZ-LLC

(UAE)

100.0%

This presentation contains “forward-looking statements.” These statements include, among other things, the discussions of our business strategy

and expectations concerning our market position, future operations, margins, profitability, liquidity and capital resources, tax assessment orders and

future capital expenditures. All of our forward-looking statements are subject to risks and uncertainties that may cause actual results to differ

materially from those that we are expecting, including, without limitation, the factors discussed in our most recent Form 20-F filed with the U.S.

Securities and Exchange Commission on July 31, 2018 (the “20-F”), including under the sections captioned “Risk Factors.”

The forward-looking statements contained in this presentation are based on historical performance and management’s current plans, estimates and

expectations in light of information currently available to us and are subject to uncertainty and changes in circumstances. There can be no

assurance that future developments affecting us will be those that we have anticipated. Actual results may differ materially from these expectations

due to changes in global, regional or local political, economic, business, competitive, market, regulatory and other factors, many of which are

beyond our control, as well as the other factors described in the 20-F under the sections captioned “Risk Factors.” Additional factors or events that

could cause our actual results to differ may also emerge from time to time, and it is not possible for us to predict all of them. Should one or more of

these risks or uncertainties materialize, or should any of our assumptions prove to be incorrect, our actual results may vary in material respects

from what we may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of

our forward-looking statements. Any forward-looking statement made by us in this presentation speaks only as of the date on which we make it. We

undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except

as may be required by applicable securities laws.

We use market data and industry forecasts in this presentation. Unless otherwise indicated, statements in this presentation concerning our

industries and the markets in which we operate, including our general expectations, competitive position, business opportunity and market size,

growth and share, are based on publicly available information, periodic industry publications and surveys and reports by market research firms. We

have not independently verified market data and industry forecasts provided by any of these or any other third-party sources referred to in this

presentation, although we believe such market data and industry forecasts included in this presentation are reliable. This information cannot always

be verified with complete certainty due to the limits on the availability and reliability of raw data, the voluntary nature of the data gathering process

and other limitations and uncertainties inherent in surveys of market size. Management estimates are derived from the information and data referred

to above, as well as our internal research, calculations and assumptions made by us based on our analysis of such information and data and our

knowledge of our industries and markets, which we believe to be reasonable, although they have not been independently verified. While we believe

that the market position information included in this presentation is generally reliable, such information is inherently imprecise. Assumptions,

expectations and estimates of our future performance and the future performance of the industries and markets in which we operate are necessarily

subject to a high degree of uncertainty and risk due to a variety of factors, including those described in the 20-F. These and other factors could

cause results to differ materially from those expressed in the estimates made by the independent parties and by us.

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