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Corporate Presentation Corporate Presentation June 2016 Contents Life sciences Seals Controls 1. Group Overview 2. Sector Review – Life Sciences 3. Sector Review - Seals 4. Sector Review - Controls 5. Strategy and Outlook Appendix: FY2016 - Half Year Results 01 1. Group Overview Group Overview Balanced portfolio of businesses Diploma PLC is an international group of specialised businesses supplying technical products and services to the following industries: Life sciences 31% of revenues Seals 42% of revenues Controls 27% of revenues FY 2015 figures 03 Group Overview Well diversified by geography North America Europe Rest of World Life Sciences 25% US 23% UK % % % Seals 46 46 Continental 8 Controls 1 1 1 of revenues 21% Canada of revenues 23% Europe of revenues ¹By destination FY 2015 figures 04 Our Business Model We want to make ourselves essential to our customers Essential Products Essential Solutions Essential Values = recurring income and = sustainable and = agility and responsiveness stable revenue growth attractive margins • Focus on essential • Highly responsive • Entrepreneurial culture products and services customer service • Decentralised • Funded by customers’ • Deep technical management model operating rather than knowledge and support • Decisions made close capital budgets • Value adding activities to the customer • “GDP plus” organic revenue growth 05 Financial KPIs Five Year Trends 2011 2012 2013 2014 2015 Revenue £230.6m £260.2m £285.5m £305.8m £333.8m Total growth +26% +13% +10% +7% +9% Organic growth +17% +6% +4% +8% +1% Operating margin 19.6% 20.3% 19.0% 18.5% 18.1% Working capital (% revenues) 16.1% 16.5% 16.7% 17.2% 17.0% Free cash flow £25.0m £32.7m £31.6m £37.8m £40.3m Cash conversion (%) 80% 88% 81% 93% 93% ROATCE 25.4% 26.6% 25.8% 25.8% 23.9% Average over CAGR REVENUE OPERATING ROATCE FREE CASH FLOW GROWTH MARGINS five years: CONVERSION 13% p.a. 18-19% 26% 87% 0906 Our Growth Strategy Value enhancing acquisitions accelerate growth ACQUIRE BUILD GROW • Fit with Group’s • Investment to build • Businesses maintain their business model a solid foundation distinct sales and • Marketing led with strong for growth: marketing identity customer relationships – New facilities • Synergies managed • Track record of stable and IT systems within business clusters: profitable growth and – Increased working – Cross-selling cash generation capital – Joint purchasing • Capable management – Strengthened – Shared back-office • Target of 20% plus management operations pre-tax ROI 07 Acquisitions Total expenditure exceeds £80m since January 2014 Financial year Acquisition spend Life Sciences Seals Controls WCIS - Australia Cablecraft – UK 2016 £30.2m Ascome - France TPD - Ireland Kubo – Switzerland & 2015 £37.8m Austria Swan Seals – UK Chemzyme – Australia Kentek – Finland, SFC – UK 2014 £16.5m Russia & Baltic States Sacee – France Ramsay – UK AB Seals – UK 08 Our Corporate Objectives Track record of delivering strong returns for shareholders STRONG DOUBLE-DIGIT UPPER QUARTILE PROGRESSIVE DIVIDEND GROWTH EPS GROWTH TSR GROWTH 2015 38.2 2015 270270 2015 18.2 2014 36.1 2014 274 2014 17.0 2013 34.8 2013 253 2013 15.7 p.a. p.a. p.a. 2012 33.1 2012 179 2012 14.4 2011 27.9 2011 116 2011 12.0 +22% +15% +15% 0Adjusted 1020304050 EPS in pence TSR0 index, end 100 Sept 2010 200 = 100 300 0.0Dividends 5.0 10.0in pence 15.0 20.0 09 2. Sector Review - Life Sciences Life Sciences Segmentation Healthcare 85% 31% of group revenues Diploma Healthcare Group (“DHG”) supplies medical devices and related consumables and services to the healthcare industries in Canada, 387 employees Australia and Ireland & the UK Environmental 59% Canada The a1-group supplies environmental 15% 28% Europe analysers, containment enclosures, emissions monitoring systems and 13% Australia/NZ gas detection devices FY2015 figures 85% of revenues from steadily growing healthcare markets 11 Healthcare 16 Principal Businesses Clinical Diagnostics ElectrosurgeryMI Surgery GI/Endoscopy How doctors Where surgeons Where surgeons Where surgeons use determine disease operate with modern employ new imaging equipment and monitor health scalpels that use technologies for to diagnose and through blood and high-frequency imaging and surgical treat conditions of tissue testing. electric current to access to improve the gastrointestinal minimise bleeding. patient outcomes. tract. Focus on growing, niche Healthcare markets 12 Life Sciences Business Model > Quality manufacturer-branded products sourced under long term distribution agreements > Multi-year customer contracts for consumables and service underpin ca. 70% of revenues > Full service solutions provided by highly qualified technical specialists > Network of trained service engineers to maintain instrumentation > A very cost effective route to market for medium sized, medical device manufacturers Market leading positions in well defined niches within broader medical device markets 13 Life Sciences Potential for Growth > Increase share of specialised segments of Healthcare markets in Canada and Australia LIFE SCIENCES > Build presence in the UK and Ireland from TPD base and explore opportunities more broadly in Europe > Extend into other specialised medical disciplines with new products and technologies > Continue to develop product and geographic spread of Environmental businesses 14 TPD Acquisition Extending DHG into Europe • DHG acquired 80% of Technopath Distribution (“TPD”) for ca. £11m in October 2014; owner managers retain 20% with put and call options • TPD is an established supplier to Biotech, Clinical and Medical markets in Ireland and the UK with revenues of ca. €18m • TPD shares key suppliers with DHG in Canada and also adds new products and suppliers • Important first step in building DHG presence and critical mass in Ireland and the UK • Strong performance since acquisition with double digit revenue growth on a like-for-like basis 15 3. Sector Review -Seals Seals Segmentation Aftermarket 55% of group revenues Next day delivery of seals, seal kits, 42% O-rings, gaskets, filters and cylinder components for the repair of heavy mobile machinery 764 employees Industrial OEMs 63% North America Supply of seals, O-rings and custom moulded and machined parts 45% 37% EMEA Region to manufacturers of specialised (incl. Australasia) industrial equipment FY2015figures Two resilient revenue streams 17 Aftermarket 20 Products & Applications AFTERMARKET Products Next day delivery of seals, seal kits, O rings, gaskets, filters and cylinder components for the repair of heavy mobile machinery, eg: > Bulldozers & excavators Applications > Dump trucks > Agricultural tractors > Refuse collection trucks > Fork lifts 18 Aftermarket Business Model > One-stop source for replacement seals and seal kits for all main brands of heavy mobile machinery > Next day delivery from central Clearwater, Florida warehouse using UPS and Fedex – order by 8pm, delivery by 10.30am the following morning > Seals typically sourced from same seal manufacturers who supply original equipment manufacturers (“OEMs”) > High customer service and very competitive pricing compared to OEM dealer network and seals available for all brands of machinery High service model for resilient repair and maintenance market 19 Industrial OEMs Products & Applications PRODUCTS APPLICATIONS Small engines Water meters Paint spray equipment Irrigation Household Medical equipment appliances equipment > Seals > O-rings > Custom moulded and machined parts Essential products for specialised industrial applications 20 Industrial OEMs Business Model > Design engineering of seals in conjunction with OEM > Sourcing of proper compound, quality manufacturing, adherence to specifications, competitive cost > Product testing and approval process > Ex-stock availability of seals and sub-assemblies to match production schedules > Vendor managed inventory programs tailored to meet customer needs Using our technical expertise to develop specialised, purpose-built solutions for customers 21 Seals Potential for Growth > In Aftermarket, continue to gain share in the North American market through superior marketing and product development SEALS > Build and expand the group of Industrial OEM Seals businesses in North America and internationally > Build larger, broader-based Seals businesses in the EMEA and Asia Pacific regions > Explore opportunities more broadly in Industrial Distribution in North America 22 Kubo Acquisition Extending EMEA Seals into Switzerland and Austria • Acquired Kubo in March 2015 for net cash consideration of ca. £23m • Long established, leading supplier of seals, O-Rings, gaskets and moulded rubber parts • Large and diverse base of industrial customers in Switzerland and Austria • Kubo specialises in high value products for harsh environments and complex applications • Kubo’s high precision manufactured parts extend product line • Kubo opens up cross-selling opportunities for Diploma’s other EMEA Seals businesses 23 WCIS Acquisition Extending EMEA Seals into the Australasia region • Acquired WCIS in Australia in October 2015 for maximum consideration of ca. £10m • Established supplier of sealing products and associated services used in complex and arduous applications • Core product capability in soft and metallic gaskets and mechanical seals • In-country operations serving nickel ore refining companies in New Caledonia • Important extension of the Group’s Seals activities into the Australasia region 24 4. Sector Review - Controls Controls Segmentation Interconnect 75% Wiring, harness components and
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