Boustead Limited CORPORATE PRESENTATION CORPORATE Disclaimer

This presentation contains certain statements that are not statements of historical fact such as forward-looking statements. These statements are based on current expectations, projections and assumptions about future events. Although Boustead believes that these expectations, projections and assumptions are reasonable, these statements are subject to the risks (whether known or unknown), uncertainties and assumptions about Boustead and its business operations such as the general economic and business conditions in Singapore and globally; currency fluctuations between the Singapore dollar and other currencies; governmental, statutory, regulatory or administrative initiatives affecting our business; industry trends; future levels and composition of our assets and liabilities; future profitability of our operations; competition; changes in Singapore tax laws or similar laws and regulations; changes in or the failure to comply with government regulations including exchange control regulations if any.

You are advised not to place undue reliance on these statements as the forward-looking events referred to in this presentation may differ materially or not occur due to these risks, uncertainties and assumptions.

Investors should assume that the information in this presentation is accurate only as of the date it is issued. Boustead has no obligation to update or revise any statements, whether as a result of new information, future events or otherwise, except as required by law. Presentation Agenda

. Overview . Business Drivers . Financial Review . Q&A Overview Introducing Boustead the world of the future

. Established in 1828, Boustead Singapore is a progressive global infrastructure-related engineering services & geo-spatial technology group OVERVIEW . Singapore’s longest continuous business entity . Listed on SGX since 1975

Energy-Related Engineering 31%

Geo-Spatial Water & Wastewater Technology Engineering 26% 10%

Real Estate Solutions 33% Our Global Network

OVERVIEW UK Canada Italy USA Spain Turkey China South Korea

Saudi Arabia UAE India Vietnam Thailand Philippines Venezuela Singapore Indonesia Brazil

Argentina Australia Our Global Footprint OVERVIEW Our Global Footprint

ASIA & EUROPE AFRICA THE OCEANIA AMERICAS Eastern East East Asia & South West Europe Africa North Central Asia Asia Hungary Somalia America Azerbaijan Bahrain Poland Tanzania Canada* OVERVIEW China* Cyprus Russia USA* Hong Kong Iran Slovakia North Japan Iraq Ukraine Africa Latin America & Macau Jordan Algeria Caribbean South Korea* Kuwait Northern Egypt Argentina* Taiwan Oman Europe Libya Brazil* Turkmenistan England* Sudan Bolivia Saudi Arabia* Ireland Tunisia Chile South East Syria Isle of Man Dominican Republic Asia UAE* Lithuania Middle Mexico Brunei Norway Africa Netherlands Antilles Indonesia* Australia & Scotland Angola Peru Malaysia* Oceania Wales Congo Venezuela* Myanmar Australia* Equatorial Guinea Philippines* New Caledonia Southern Gabon Singapore* New Zealand Europe Thailand* Papua New Guinea Greece West Timor-Leste Italy* Africa Vietnam* Spain* Cote d’Ivoire Turkey* Ghana South Nigeria Asia Western Bangladesh Europe India* Austria Maldives Belgium Pakistan Germany Sri Lanka Netherlands *Regional/local offices Switzerland Major Awards/Recognitions

. Major Awards/Recognitions

2008 2009 2010 2011 2012 OVERVIEW Forbes Asia 200 Best Under A ✓✓ Billion Most Transparent Company ✓✓ (Runner-Up in Construction Category) CEO of the Year (Mid-Cap Category) ✓ – FF Wong MSCI Global Small Cap Index for ✓✓ ✓ Singapore FTSE ST Small Cap Index ✓✓ ✓

Singapore Business Superbrands ✓✓

Arts Awards ✓✓✓ Group Business Model

. Undertaking only high value-added activities across value chain OVERVIEW VALUE CHAIN OF ACTIVITIES

ENGINEERING FABRICATION DELIVERY

In-house expertise for high Outsource low value-added: In-house expertise for high value-added: value-added: .Fabrication .Design .Installation .Manufacturing .Process engineering .Commissioning .Modularisation .Detailed engineering .Training

PROJECT MANAGEMENT

In-house expertise for high value-added: .Project management, procurement and quality supervision Group Business Model

. Globally competitive OVERVIEW Group Strategy & Focus – Asia Pacific

1) SINGAPORE . Headquarters . Main infrastructure engineering base . Asia Pacific OVERVIEW network bridge

2) AUSTRALIA & SOUTH EAST 3 ASIA . Satellite infrastructure engineering base . Target markets for 2 infrastructure 1 . Target sources for natural resources

3) ASIA PACIFIC . Target markets for infrastructure . Target markets for 2 natural resources Key Business Drivers Industrial Real Estate Solutions KEY BUSINESS DRIVERS Division Profile Industrial RealEstateSolutions . Boustead Projects • • • • valued aboveS$1.8b across Singapore, Vietnam,Malaysiaand China, Track record of executingmorethan115 projects 101,000 square metres Industrial leasehold facili square metres ofindustrialrealestateregionally Constructed anddevel Singapore, withcoreengineering expertisein: Leading industrialrealestate solutionsproviderin Industrial parkdevelopment - ofindustrial facilities Design-build-and-lease - ofindustrial facilities Design-and-build - oped morethan4,000,000 ties portfolioof over KEY BUSINESS DRIVERS Division Profile Industrial RealEstateSolutions . osedPoet …cont’d) Boustead Projects(… • developing industrialfacilities within: Assumed primeroleinconstructing and WuxiBoustead IndustrialPark - PioneerIndustrial Park - PayaLebariPark - InternationalLogisPark Changi - Boustead IndustrialPark - Airport LogisticsParkofSingapore - KEY BUSINESS DRIVERS Division Profile Industrial RealEstateSolutions . osedPoet …cont’d) Boustead Projects(… • Industry experienceincludes: KEY BUSINESS DRIVERS Division Profile Industrial RealEstateSolutions . XP PowerFacility SDV GreenWarehouse Rolls-Royce TestBed Facility Rolls-Royce Achord Applied MaterialsBuilding Boustead Projects(cont’d) . facilities Leader inGreenMarkaward-winning industrial •1 •1 •1 ofSolarPioneer Winner Award • •1 Winner inVietnam category Park category st st st st Gold Plus andGreen Mark-certifiedAward Platinum AwardWinner inlogistics industry Platinum AwardWinners Platinum AwardWinner in heavy industry in SeletarAerospace KEY BUSINESS DRIVERS Leasehold FacilitiesPortfolio Industrial RealEstateSolutions Panalpina WorldTransport Multi-tenanted UMS Aerospace Propulsion Berg Safran Electronics Asia Hankyu Hanshin Express Singapore Continental Automotive Bombardier Aerospace Jabil Circuit Client Under construction ne osrcin6,490 Under construction opee 11,287 Completed Completed Completed Completed Completed opee 7,014 11,938 Completed Completed Status Total GFA (sqm) 101,850 10,433 11,250 20,020 16,618 6,800 KEY BUSINESS DRIVERS Division Showcase Industrial RealEstateSolutions Singapore’s firstGreen Rolls-Royce AchordFactory Mark PlatinuminSeletar AerospacePark SINGAPORE KEY BUSINESS DRIVERS Division Showcase Industrial RealEstateSolutions Singapore’s first Green Applied Materials Building Mark Platinum inheavy industrycategory SINGAPORE KEY BUSINESS DRIVERS Division Showcase Industrial RealEstateSolutions IBM Singapore Technology ParkSINGAPORE Green MarkGold KEY BUSINESS DRIVERS Division Showcase Industrial RealEstateSolutions Halliburton SingII SINGAPORE KEY BUSINESS DRIVERS Division Showcase Industrial RealEstateSolutions Singapore’s first fullydedic Fortis Colorectal Hospital ated colorectal hospital SINGAPORE KEY BUSINESS DRIVERS Division Showcase Industrial RealEstateSolutions Green MarkGold Plus XP Power VIETNAM Industrial Real Estate Solutions Committed Sales

. Committed sales • Completed SDV Green Warehouse for SDV Logistics in 2Q FY2013 • In process of constructing S$38 million strata divided building to be sold by FY2014 KEY BUSINESS DRIVERS KEY BUSINESS DRIVERS Global Clients Real EstateSolutions akuHnhn•UPS • Hankyu Hanshin • Halliburton • Fortis • Safran Expeditors • • P&G •DHL • Continental Auto • Bombardier • Bell Helicopter • IBM BASF • • Abbott • Applied Materials • Corporations Multinational nrmMco•Charles&Keith • Micro Ingram • er oitc Greenpac • KerryLogistics • •Schenker TEetois•SAESL • ST Electronics • Rolls-Royce • Shell • D oitc PanAsiaLogistics • Logistics SDV • Huaneng TuasPower • UMSAerospace • Nobel Design • •Osim Enterprises Singapore Luxasia • Apex-Pal • RE&S • Industrial Real Estate Solutions Division Revenue

. Sizeable order book backlog of design-and-build projects KEY BUSINESS DRIVERS Key Business Drivers Energy-Related Engineering KEY BUSINESS DRIVERS Downstream & Gas/PetrochemicalsProfile Energy-Related Engineering . Boustead International Heaters(BIH) • • • across 48countries, valuedaboveS$850m Track record of executingmorethan165 projects heater system installationsworldwide Vast knowledge baseofover2,000process gas/petrochemical industries for: Global specialistindownstream oil& Once throughsteam generators - recoverysteamgenerators Heat - Waste heatrecoveryunits - Direct-fired processheatersystems - KEY BUSINESS DRIVERS Downstream Oil & Gas/PetrochemicalsProfile Energy-Related Engineering . I …cont’d) BIH (… • • and pollution control exhaust andflue gasforgreater efficiency energy recycling ofturbine Waste heatrecovery units- process andkeytodistillation of: heartofrefining Process heatersystems- - Natural gas Natural - gas Liquefied - - - Diesel - oil Heating - - KEY BUSINESS DRIVERS Downstream Oil & Gas/PetrochemicalsShowcase Energy-Related Engineering ALGERIA Stabiliser reboiler KEY BUSINESS DRIVERS Downstream Oil & Gas/PetrochemicalsShowcase Energy-Related Engineering Reactor effluent furnace NORWAY KEY BUSINESS DRIVERS Downstream Oil & Gas/PetrochemicalsShowcase Energy-Related Engineering SPAIN Arbour heater KEY BUSINESS DRIVERS Downstream Oil & Gas/PetrochemicalsShowcase Energy-Related Engineering ALGERIA Waste heatrecovery units KEY BUSINESS DRIVERS Downstream Oil&Gas/Petr Energy-Related Engineering ochemicals Sustainability CANADA Oil sandsupgrader KEY BUSINESS DRIVERS Downstream Oil&Gas/Petr Energy-Related Engineering Liquefied naturalgas(LNG)/g ochemicals Sustainability as-to-liquids (GTL)production KEY BUSINESS DRIVERS Upstream Oil&GasProfile Energy-Related Engineering . Boustead Controls&Electrics (BC&E) • • • S$185m across 27countriesglobally, Track record of executingmorethan160 projects Saudi Aramco First Asiansupplier ofwe industries for: Regional specialistinupstream oil&gas SCADAsystems - Integrated control &safetyshutdown(ICSS) - Topside controlsystems - Fire &gassystems - Emergency shutdown(ESD)systems - Wellhead controlsystems - systems llhead ESDsystems to valued above KEY BUSINESS DRIVERS Upstream Oil&GasShowcase Energy-Related Engineering Wellhead ESDsystem QATAR Energy-Related Engineering Upstream Oil & Gas Showcase KEY BUSINESS DRIVERS

Wellhead control panels INDIA KEY BUSINESS DRIVERS Upstream Oil&GasShowcase Energy-Related Engineering Hydraulic powerunits BRAZIL KEY BUSINESS DRIVERS Upstream Oil&GasShowcase Energy-Related Engineering Emergency shutdownsystem VIETNAM KEY BUSINESS DRIVERS Upstream Oil&GasShowcase Energy-Related Engineering ICSS system onboard FPSOPolvo © Prosafe Production Prosafe © BRAZIL KEY BUSINESS DRIVERS Global Clients Energy-Related Engineering aahnOl•Sinopec • •Total Shell • MarathonOil • ExxonMobil Pemex • Encana • • Eni • ConocoPhillips • Chevron • •BP •BG Billiton BHP • Gas Corporations Multinational Oil& Sonatrach • L&T • QatarPetroleum • ad rmo•Petrofac • Saudi Aramco • Petrobras • •Statoil •ONGC•KPC Corporations National Oil&Gas PDVSA • ADNOC • Foster Wheeler • Samsung • •Technip JGC • •Fluor•Daelim Corporations International EPC Bechtel • KBR • Saipem • Energy-Related Engineering Division Revenue

. Design delays at a few major projects which will be recovered in subsequent quarters KEY BUSINESS DRIVERS Key Business Drivers Water & Wastewater Engineering KEY BUSINESS DRIVERS Division Profile Water &WastewaterEngineering . Boustead Salcon • • • • in 60countries globally,valuedaboveS$800m Track record of executingmorethan800 projects pre-qualified by world’sleadingEPCcorporations group ofAsianspecialists outside ofJapantobe ofbeing oneofexclusive Outstanding distinction sector energy Singapore’s largestionexchange specialistin engineering Leading globalspecialistin waterandwastewater KEY BUSINESS DRIVERS Division Profile Water &WastewaterEngineering . osedSlo …cont’d) Boustead Salcon(… • Industry experienceincludes: KEY BUSINESS DRIVERS Division Showcase Water &WastewaterEngineering Senoko Power Seawater Senoko Power Singapore’s first seawater Desalination Plant desalination plant SINGAPORE Water & Wastewater Engineering Division Showcase KEY BUSINESS DRIVERS

Tanjung Jati B Seawater Desalination Plant INDONESIA KEY BUSINESS DRIVERS Division Showcase Water &WastewaterEngineering RO plant atSaudi Aramco’s Hawiyah NGLReverse Osmosis Plant largest NGLprocessing plant SAUDI ARABIA KEY BUSINESS DRIVERS Division Showcase Water &WastewaterEngineering Tembusu Multi-Utilit ies Complex Plants SINGAPORE KEY BUSINESS DRIVERS Division Showcase Water &WastewaterEngineering World’s first plant toutilise Bedok NEWaterFactoryPhase II commercial 16-in ch RO membranes SINGAPORE KEY BUSINESS DRIVERS Division Showcase Water &WastewaterEngineering Al Wathba EnhancedTreated Se UAE’s firstnew waterreclamation plant UAE’s wage Effluent TreatmentPlant UAE KEY BUSINESS DRIVERS Global Clients Water &WastewaterEngineering T oeSry TSMC • SMIC YTL PowerSeraya • • WAPDA • Senoko Energy • Sembcorp Hyundai • • DowChemical • •GMR Empresa Electrica • •EGAT•ADWEACorporations Power erVenm•HP Lurgi • • PLN • GlaxoSmithKline PetroVietnam • • Huaneng TuasPower • uiooCeia Samsung • Sumitomo Chemical • Motorola • Intel • •DuPont•BP •AT&T Corporations Multinational M+WZander • MHI • Marubeni • Toshiba • •JGC •Hitachi•Alstom Corporations International EPC Mitsui • Water & Wastewater Engineering Division Revenue

. Lower order book backlog and execution of fewer projects KEY BUSINESS DRIVERS Key Business Drivers Geo-Spatial Technology KEY BUSINESS DRIVERS Division Profile Geo-Spatial Technology . Esri Australiaand SouthAsia • • sectors organisations spanning government andprivate Established client baseofmorethan13,000 markets intelligence solutionsinexclusive information systems(GIS) and location Premier providersofworld’s leadinggeographic Timor-Leste - Brunei - Bangladesh - Indonesia - Malaysia - Singapore - Australia - KEY BUSINESS DRIVERS Location Intelligence Geo-Spatial Technology KEY BUSINESS DRIVERS Esri Showcase Geo-Spatial Technology Interactive flood map © Queensland Reconstruction Authority Reconstruction Queensland © AUSTRALIA KEY BUSINESS DRIVERS Esri Showcase Geo-Spatial Technology © South Australian Water Corporation Water Australian South © AUSTRALIA Sewer reticulation KEY BUSINESS DRIVERS Esri Showcase Geo-Spatial Technology Master Plan 2008SINGAPORE © Urban Redevelopment Authority Redevelopment Urban © KEY BUSINESS DRIVERS Esri Showcase Geo-Spatial Technology National Spatial DataInfrastructure INDONESIA Bakosutarnal © Geo-Spatial Technology Division Revenue

. Steadily growing revenue KEY BUSINESS DRIVERS Financial Review FY2012 Group Financial Results

FY2012 FY2011 Chg (S$) (S$) (%) Revenue 408.7m 560.6m -27

Gross profit 146.1m 178.1m -18 FINANCIAL REVIEW Profit before tax 71.9m 73.6m -2

Net profit 55.6m 52.2m +6

Earnings per share 11.0cts 10.3cts +7

NAV per share 50.4cts 45.3cts +11 FY2012 Group Revenue Mix by Division

FY’11: 17%

FY’11: 25% GROUP FINANCIAL REVIEW

FY’11: 5%

FY’11: 53% Group Revenue

. Strong revenue contribution by Real Estate Solutions Division in 1H FY2013 GROUP FINANCIAL REVIEW Group Net Profit

. One-off S$4.8m writeback of prior year income tax provisions, as well as impairment loss on available- for-sale investment of S$4.5m in 1H FY2013 GROUP FINANCIAL REVIEW Group Net Cash Position

. Healthy net cash position of 35.4 cents per share in 1H FY2013 GROUP FINANCIAL REVIEW FY2012 Group Cash Flow

. Increases in properties held for sale, investment properties and available-for-sale investments . S$35.4m in dividends paid GROUP FINANCIAL REVIEW Return on Shareholders’ Equity

. Respectable ROE GROUP FINANCIAL REVIEW Earnings per Share

. Ensuring earnings stability GROUP FINANCIAL REVIEW Net Asset Value per Share

. Strengthening financial position GROUP FINANCIAL REVIEW Group Free Cash Flow

. Steady free cash flow generation GROUP FINANCIAL REVIEW FY2012 Group Dividend

FY2012 FY2011 Chg (%) Interim dividend 2.0cts 2.0cts +0 (paid) Final dividend 3.0cts 2.0cts +50 (proposed)

GROUP FINANCIAL REVIEW Total ordinary 5.0cts 4.0cts +25 dividend Special dividend 0.0cts 3.0cts (proposed) Total dividend 5.0cts 7.0cts Group Dividend

. Interim dividend of 2 cents per share for 1H FY2013, matching that of 1H FY2012

7-year CAGR: +8% GROUP FINANCIAL REVIEW Group Orders Secured

. Enquiry pipelines remain healthy although negotiation periods have been slightly protracted GROUP FINANCIAL REVIEW Thank You