FTSE COMPANY REPORT Share price analysis relative to sector and index performance

Data as at: 08 July 2016 Environmental Recycling Tech ENRT Support Services — GBP 0.000375 at close 08 July 2016

Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 08-Jul-2016 08-Jul-2016 08-Jul-2016

0.005 100 100 1D WTD MTD YTD 0.0045 90 90 Absolute 0.0 0.0 0.0 -70.0 Rel.Sector -1.4 0.7 -0.2 -69.2 0.004 80 80 Rel.Market -1.0 0.1 -1.0 -70.9 0.0035 70 70 0.003 60 60 VALUATION

0.0025 currency) (local 50 50 Trailing 0.002 Relative Price 40 Relative Price 40 PE -ve 0.0015 30 30 Absolute Price Price Absolute EV/EBITDA -ve 0.001 20 20 PCF -ve 0.0005 10 10 PB -ve 0 0 0 Price/Sales 9.1 Jul-2015 Oct-2015 Jan-2016 Apr-2016 Jul-2016 Jul-2015 Oct-2015 Jan-2016 Apr-2016 Jul-2016 Jul-2015 Oct-2015 Jan-2016 Apr-2016 Jul-2016 Div Yield 0.0 Absolute Price Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Div Payout 0.0

100 100 100 ROE - 90 90 90 Net Debt/Equity - 80 80 80 70 70 70 60 60 60 DESCRIPTION 50 50 50 The principal activity of the company is the licensing 40 40 40

RSI (Absolute) RSI of the intellectual property of the Powder Impression 30 30 30 Moulding (PIM) system to third parties for specific 20 20 20 products and geographical areas of the world in order 10 10 10 to generate fees and on-going royalties. RSI (Relative to FTSE UK All-Share Index) UK All-Share to FTSE (Relative RSI RSI (Relative to FTSE UK All-Share Sector) UK All-Share to FTSE (Relative RSI 0 0 0 Jul-2015 Oct-2015 Jan-2016 Apr-2016 Jul-2016 Jul-2015 Oct-2015 Jan-2016 Apr-2016 Jul-2016 Jul-2015 Oct-2015 Jan-2016 Apr-2016 Jul-2016

See final page and http://www.londonstockexchange.com/prices-and-markets/stocks/services-stock/ftse-note.htm for further details.

Past performance is no guarantee of future results. Please see the final page for important legal disclosures. 1 of 4 FTSE COMPANY REPORT: Environmental Recycling Tech 08 July 2016

Valuation Metrics

Price to Earnings (PE) EV to EBITDA Price to Book (PB)

30-Jun-2016 30-Jun-2016 30-Jun-2016 1 1 25 ǁǁ 0.9 0.9 0.8 0.8 20 0.7 0.7 0.6 0.6 15 0.5 0.5 +1SD 0.4 0.4 10 0.3 0.3 Avg 0.2 0.2 5 0.1 0.1 -1SD 0 ǁǁ0 ǁǁ0 ǁǁ Jul-2011 Jul-2012 Jul-2013 Jul-2014 Jul-2015 Jul-2011 Jul-2012 Jul-2013 Jul-2014 Jul-2015 Jul-2011 Jul-2012 Jul-2013 Jul-2014 Jul-2015

Paysafe Group 120.0 Sanne Group 26.7 Connect Group 25.0 G4S 120.0 Paysafe Group 25.8 Sanne Group 24.1 Sanne Group 120.0 Electrocomponents 18.9 Intertek Group 17.9 AA 120.0 Bunzl 18.4 Rentokil Initial 16.6 120.0 DCC 15.1 Capita 9.4 Support Services 32.5 Support Services 9.4 Support Services 4.1 Environmental Recycling Tech -0.1 HSS Hire Group -9.3 St.Ives 3.5 Brammer 0.5 Intertek Group -15.5 Communisis 3.4 Environmental Recycling Tech 0.0 Shanks Group -82.0 Northgate 3.2 AA 0.0 Worldpay Group -120.0 1.4 De La Rue 0.0 PayPoint -120.0 Environmental Recycling Tech 0.0 Hogg Robinson Group 0.0 -150 -100 -50 0 50 100 150 0 5 10 15 20 25 30 0 5 10 15 20 25 30

Price to Cash Flow (PCF) Dividend Yield % Price to Sales (PS)

30-Jun-2016 30-Jun-2016 30-Jun-2016 1 1 15 ǁǁ ǁ ǁ ǁ ǁ ǁ ǁ ǁ 0.9 0.9 14 0.8 0.8 Avg 0.7 0.7 13 0.6 0.6 0.5 0.5 12 -1SD 0.4 0.4 11 0.3 0.3 0.2 0.2 10 0.1 0.1 0 ǁǁ0 9 Jul-2011 Jul-2012 Jul-2013 Jul-2014 Jul-2015 Jul-2011 Jul-2012 Jul-2013 Jul-2014 Jul-2015 Jul-2011 Jul-2012 Jul-2013 Jul-2014 Jul-2015

Ashtead Group 80.0 Brammer 17.8 Sanne Group 10.0 Serco Group 66.9 9.3 Environmental Recycling Tech 9.1 Northgate 50.7 St.Ives 8.7 Paysafe Group 4.6 Sanne Group 46.4 Carillion 7.8 Experian 4.5 Paysafe Group 42.8 Communisis 6.3 PayPoint 2.9 Support Services 14.1 Support Services 2.5 Support Services 0.9 Charles Taylor 3.8 HSS Hire Group 1.3 Communisis 0.2 Communisis 3.6 Equiniti Group 0.4 Connect Group 0.2 Environmental Recycling Tech -0.3 Worldpay Group 0.0 Menzies (John) 0.2 HSS Hire Group -5.4 Paysafe Group 0.0 Interserve 0.1 Lavendon Group -8.9 Environmental Recycling Tech 0.0 Brammer 0.1 -20-100 102030405060708090 0 2 4 6 8 10 12 14 16 18 20 024681012 Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing.

2 of 4 FTSE COMPANY REPORT: Environmental Recycling Tech 08 July 2016

Valuation Metrics

Net Debt to Equity Dividend Payout (DP) Return on Equity (RoE)

30-Jun-2016 30-Jun-2016 30-Jun-2016 20 1 1 0.9 0.9 0.8 0.8 15 +1SD 0.7 0.7 0.6 0.6 10 0.5 0.5 Avg 0.4 0.4 0.3 0.3 5 0.2 0.2 0.1 0.1 0 -1SD 0 0 ǁǁ Jul-2011 Jul-2012 Jul-2013 Jul-2014 Jul-2015 Jul-2011 Jul-2012 Jul-2013 Jul-2014 Jul-2015 Jul-2011 Jul-2012 Jul-2013 Jul-2014 Jul-2015

Rentokil Initial 5.6 G4S 100.0 Howden Joinery Group 49.0 Premier Farnell 3.9 AA 100.0 SThree 48.2 Sanne Group 100.0 Capita 3.7 Premier Farnell 43.1 Capita 100.0 G4S 3.4 RPS Group 100.0 (WS) 41.8 Support Services 1.0 Support Services 73.0 Support Services 11.9 SThree 0.0 Environmental Recycling Tech 0.0 -25.6 PayPoint 0.0 Speedy Hire 0.0 Intertek Group -50.0 HSS Hire Group 0.0 Pagegroup Plc 0.0 Equiniti Group -50.0 Intertek Group 0.0 Howden Joinery Group 0.0 Shanks Group 0.0 Serco Group -50.0 Environmental Recycling Tech 0.0 PayPoint 0.0 Environmental Recycling Tech -50.0 0123456 0 20 40 60 80 100 120 -60 -40 -20 0 20 40 60

ROE vs. PB — sector Du Pont Analysis

20 20 1

18 ITRK 0.9 0 RTO 0.8 16 0.7 14 -20 0.6 12 -40 0.5 PB 10 CPI PFL 0.4 8 WPG EXPN BNZL -60 PAY 0.3 6 HWDN STHR 0.2 HSVDPLM HAS MNZS RGU ATK -80 SRPGFS Support ServicesDCC PAGE 4 WOS BRSN RCDO AHT 0.1 ECM AGK PAYS MERESNT CTRRWAVP.MTO 2 SKS BAB -100 0 EQN EXOTPKACL ǁ SDYRPS SIVSHI GFTU CLLNNTG HSS LVD BRAM CMS IRV 2012 2013 2014 2015 2016 0 0 102030405060 Net Margin Asset Turnover Gearing ROE (rhs) ǁ ROE Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing.

3 of 4 FTSE COMPANY REPORT: Environmental Recycling Tech 08 July 2016

Brief description Brief description

Price to Earnings Price to Earnings (PE) is price over earnings per share. Earnings are based on the latest Gearing Gearing is Total Assets divided by Common Equity. Total Assets and Common Equity are (PE) available fiscal year earnings. each averaged over two years, that is, t and (t-1). Price to Sales (PS) Price to Sales (PS) is price divided by sales per share. It is based on sales from continuing Asset Turnover Asset turnover is Sales divided by Total Assets. Total Assets is averaged over two years, operations for the fiscal year. that is, t and (t-1). Price to Book (PB) Price to Book (PB) is price at the indicated date divided by common equity per share. Dupont Breakdown Return on Equity (RoE) = Net Margin * Gearing * Asset Turnover Common/ordinary equity is generally as reported at the most recent fiscal year-end but is Analysis adjusted to exclude minority interest, preferred stock and selected items as appropriate. RoE vs PB Plot of RoE versus PB at last month end for all FTSE UK All Share stocks in the sector Price to Cash Flow Price to Cash Flow (PCF) is price at the indicated date divided by cash flow per share. relative to the stock in question. Data may be limited to the stock in question if there are (PCF) currently no stocks in the corresponding FTSE UK All Share sector. Net Debt Equity Net Debt Equity is Net Debt as a percentage of common equity. Not calculated if Absolute Absolute graphs reflect performance for the stock in question for up to 366 days adjusted denominator (common equity) is negative for intervening corporate actions. EV to EBITDA EV to EBITDA is Enterprise Value divided by EBITDA (Earnings before Interest and Taxes, Relative Relative charts reflect the performance for the stock in question relative to the depreciation and amortisation). EV is full company Market Capitalisation at the data date corresponding sector of the FTSE All Share Index for up to 366 days, rebased to the start plus last annual net debt and Preferred Stock. Net Debt is total financial debt less cash date. Note that the stock itself may not be a FTSE All share constituent. Relative Chart and short-term investments. EBITDA is operating income plus depreciation and may be null if there are no stocks in the corresponding FTSE UK All Share sector. amortisation. RSI Relative Strength Index. Calculated as 100 minus (100 divided by (1+ratio of positive Dividend Yield % Dividend Yield reflects the dividend declared per share and/or paid for the security in versus negative time weighted returns)). Reflects 14 day average gains/losses question for the most recent fiscal year, divided by the share price. Valuation History Outlier valuation data is not shown to scale as these would distort the chart. Instead, ∥ Return on Equity Return on Equity is net income over average common equity. Not calculated if Charts denotes valuation data which falls outside display truncation limits. (RoE) denominator (average common equity) is negative Top/Bottom Reflect data for up to five top and five bottom performers for the valuation metric in Dividend Payout Total dividends divided by Net Income expressed as a percentage. Valuation Bar question. Note data may be limited to the stock in question if there are currently no Charts stocks in the corresponding FTSE UK All Share sector. Net Margin Net Margin is Net Income divided by sales. A guide to the report is available at http://www.londonstockexchange.com/prices-and-markets/stocks/services-stock/ftse-note.htm.

Environmental Recycling Tech 08 July 2016 For further information visit www.ftse.com, email [email protected] or call your local FTSE office:

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