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Investor Pack - Interim Results for the 6 Months ending 30th June 2015

6 Months to 30th June 2015 Revenue £112.0m Forward order book £320m Underlying operating profit £1.4m Profit before tax £0.9m Earnings per share 1.74p Interim dividend per share 0.5p Net Debt £8.7m

2 August 2015 Presentation for Interim Results for the 6 Months ending 30th June 2015

Presentation by Main Contents Page 2 Introducing TClarke Page 3 Presentation Contents Page 4 Group Highlights Page 5 Financial Highlights Page 6 Income Statement Page 7 Cash Flow Page 8 Balance Sheet Page 9 Operational Review Page 10 Nationwide Coverage Page 11 Forward Order Book Page 12 Key Projects Page 13 TClarke - London & South East Page 14 TClarke - Central & West Page 15 TClarke - North Page 16 TClarke - Scotland Page 17 Summary Page 18 Appendices Martin Walton Mark Lawrence Page 19 PLC Board Finance Director Chief Executive Page 20 Innovation - TClarke Safety App Page 21 TClarke Founded 1889 Page 22 Vision and Strategy 3 Group Highlights

• Leading UK provider of complete range of building services • Strong reputation for quality with long standing client relationships • Highly experienced team with nationwide strength

• Revenues of £112m • Maintained Interim dividend 0.5p • Underlying operating profit £1.4m • Profit before tax £0.9m • Net Debt of £8.7m but improving position

• Onsite works to commence on the large London schemes at Rathbone Square, Principal Place and London Wall Place • £320m forward order book up 16% on the same time last year • 75 New apprentices begin training across the UK from September • TClarke North West moves to larger premises at Ackhurst Business Park • Excellent opportunities for forward growth and future profitability

Newcastle Central Station, Metro Station Refurbishment

4 Financial Highlights

30/06/2015 Margin 30/06/2014 Margin £m % £m %

Revenue 112.0 109.8

Underlying operating profit¹ 1.4 1.3% 1.2 1.1%

Profit before tax 0.9 0.9% 0.2 0.2%

Earnings per share – basic 1.74p 0.32p

Earnings per share – underlying² 1.96p 1.58p

Interim dividend 0.5p 0.5p

Net debt3 (8.7) (4.3)

Order book 320 275

1 Before £0.1m (2014: £0.1m) amortisation and non-recurring costs (2015: £nil; 2014: £0.6m exceptional claim settlement costs) 2 Before amortisation and non-recurring costs, and tax on these items 3 Facilities comprise £5m RCF and £11m overdraft facility renewed July 2015 5 Income Statement

Segmental Analysis 30/06/15 30/06/14 £m £m Revenue Underlying Profit Margin Revenue Underlying Profit Margin London & South 57.8 1.2 2.3% 42.9 (0.4) (0.8)% Central & West 30.7 (0.6) (2.0)% 37.8 0.5 1.2% North 17.4 0.7 4.1% 20.5 0.9 4.3% Scotland 6.9 0.1 0.7% 9.8 0.2 2.4% Other (0.8) - (1.2) -

Total revenue 112.0 109.8 Underlying operating profit 1.4 1.3% 1.2 1.1% Net interest (0.4) (0.3)

Underlying PBT 1.0 0.9

Non-recurring items - (0.6) Amortisation (0.1) (0.1)

Profit before tax 0.9 0.2

• London and South benefiting from large London schemes • Central and West affected by main contractor issues in office • Net interest includes £0.3 m non-cash items (2014: £0.2m) • Non-recurring items in 2014 relate to settlement of historic claims 6 Cash Flow

30/06/15 30/06/14 £m £m

Operating cash flow before working capital movements 1.7 0.6

Working capital movement (14.2) (5.4)

Operating cash flow (12.5) (4.8) Net interest (0.1) (0.1) Corporation tax (0.2) 0.3 Fixed asset disposals net of additions (0.1) 0.2

Cash outflow before financing 5.5 (3.3) Bank loans 5.0 Dividends paid (1.1) (0.9)

Net cash inflow / (outflow) (14.0) (4.6) Opening cash 10.3 5.6

Closing cash (3.7) 1.0

• Working capital outflow due to investment in engineering resources and start up costs on large London schemes • £11m overdraft facility renewed July 2015 • £5m 3 year committed facility to March 2017, fully drawn • £17.5m bonding facilities, c£7.4m utilised 7 Balance Sheet

Balance Sheet 30/06/15 30/06/14 £m £m Intangible assets 23.1 23.3 Property plant and equipment 4.8 5.3 27.9 28.6 Inventories and construction contracts 33.1 25.0 Debtors 32.5 37.5 Creditors (52.2) (53.2)

Working capital excluding cash 13.4 9.3

Net debt (8.7) (4.3) 4.7 5.0 Pension scheme (15.7) (11.7) Tax - current and deferred 2.6 1.4 Other payables (0.3) -

Net assets 19.2 23.3

Net current assets 9.5 4.5

• Pension scheme impacted by macroeconomic factors • Cash contributions to pension scheme c£1.3m pa • Net current assets increased • Net debt includes £5m RCF repayable 31/03/2017 8 Operational Review

New contracts secured since our previous announcement include:

First Bus, Three New Bus Depots and Regional Headquarters, Beaufort Park, for St George part of Berkeley Group Bird and Bird fit out, London Cambourne Primary School Chiswick Park Building 7, London Irvine Leisure Centre. Ayrshire John Bull Building, New Research Facility, Derriford, Plymouth Lymm, New Fire Station and Safety Centre for Cheshire Fire and Rescue Service Minerva Student accommodation, Cardiff Newcastle Central Station, Metro Station Refurbishment Scarborough Leisure Village Stevenage Accelerator Building Summit House, London Sunderland University, Science Block Temple Learning Academy, TWI Training and Examination Services, Middleborough Waitrose & John Lewis at Home, Basingstoke Waitrose, Guildford John Lewis at Home and Waitrose, Basingstoke

9 Nationwide Coverage

Revenue by Regions For the 6 Months ending 30th June 2015 Aberdeen Accrington 27% Bristol Cardiff Colchester Derby Falkirk Harlow 51% 16% Huntingdon Leeds 6% London Newcastle Peterborough Plymouth TClarke – Scotland Sittingbourne TClarke – North St Austell TClarke - Central & West TClarke - London & South East

10 Forward Order Book

The Groups forward order book from July 2015 breaks down as follows: All figures in £ Millions

FirstOrder Bus, Book Three July New– Dec 2015Bus Depots and Regional Headquarters,108 Glasgow

Order Book 2016 155

Order Book 2017 – 2021 57

Total forward order book 320

0 50 100 150 200 250 300 350

Bird and Bird, London Chiswick Park, Building 7 Image credit: Hayes Davidson / Jason Hawkes 11 Key London Projects

Secured Projects 20152015 20162016 20172017 2018 2018

July July July

May May May

April April April

June June June

March March March

August August August August

January January January

October October October October

February February February

December December December December

November November November November

September September September September Total Contract Secured Projects Value BBC Studios £6 m

Selfridges £10 m

Tate Modern £8 m

Ruskin Square £4 m

Project Nova £12 m

Mizuho Bank £10 m

1 Angel Court £7 m

Rathbone Square £19 m

Principal Place £12 m

London Wall Place £21 m

Bloomberg London £34 m

10 Fenchurch Avenue £12 m

Victoria Station £19 m

100 Bishopsgate £28 m

Bank Station £11 m

Total £213 m

Note Certain contracts commenced prior to July 2015 12 TClarke - London & South East

TClarke – London & The South East, the offices in this division are London Head Office, Harlow Manufacturing Facility, Colchester (Design and Build 2015 Secured Revenue 96% division) and Sittingbourne.

Key Facts: London market remains central to the Group, M&E Contracting supports our other 0% 20% 40% 60% 80% 100% 120% business sectors. 2015 Secured Revenue Excellent client and contractor relationships. Reputation for delivery demonstrated by significant contract wins.

Highly skilled workforce and technically experienced engineers who set high standards and continually innovate, with clients wanting to lock in our skills.

Future Opportunities Include

• Westfield London Extension • Gotham City • White City Redevelopment • Goldman Sachs • Wimbledon - No1 Court • The International Quarter • London Underground ‘Future Stations’ Projects • Gatwick Airport Railway Station Redevelopment • Heathrow Airport, various packages White City Extension 13 TClarke - Central & West

TClarke – Central & West - The offices in this division used to operate as part of TClarke South but have been split from January 2015

In the Central and West we operate from Bristol, Cardiff, Derby, Huntingdon, Peterborough, Plymouth and St Austell.

Key Developments • Business in St Austell relocated to new offices at St Austell Business Park 2015 Secured Revenue 84% • Strategy to target larger contracts in the South West - successful • Cardiff office experiences problem contract

• Opportunity with Philips Healthcare progressing 0% 20% 40% 60% 80% 100% • Significant number of residential schemes continue to come to market 2015 Secured Revenue • Continue to see spend with longstanding clients e.g. Waitrose

• Plans for TClarke East and Midlands to work closer together Waitrose, Guildford • Growth opportunities in and Cambridge to be targeted

Stevenage Accelerator Building

14 TClarke - North

TClarke – North - We operate from our offices in Accrington, Leeds and Newcastle.

New Home for 2015 Secured Revenue 95% TClarke North West

Our team at TClarke North West are based at Accrington and will shortly 0% 20% 40% 60% 80% 100% relocate to larger offices at Ackhurst 2015 Secured Revenue Business Park in Chorley. This new office is ideally located to service our current client base and will also assist with our growth aspirations Two significant FM contract wins for this Division for the wider North West. demonstrate that our nationwide FM coverage and capabilities are being recognised. The two contracts mean that we now provide FM services for 500 care homes and 60 office buildings nationwide, operated from a single hotline service in Leeds.

New Project We continue to work extensively for BAE at Warton Sunderland University and Samlesbury and continue to pursue additional Science Block opportunities at Barrow-in-Furness 15 TClarke - Scotland

TClarke Scotland, we operate from our main office in Falkirk and a regional office in Aberdeen.

Irvine Leisure Centre. Ayrshire 2015 Secured Revenue 86%

0% 20% 40% 60% 80% 100% 2015 Secured Revenue

Intelligent Buildings is gathering significant momentum with a number of key projects secured TClarke Scotland continues to seek opportunities in the wider M&E sector by recently on group projects. securing a project at Hunterston Power station on the west coast of Scotland. Contractor of choice to the leading house builders in the Scottish market, current example projects: • Barratt East, Agilent Affordables, South Queensferry, Residential, villas, full Electrical & AV • Barratt East, Duddingston, Edinburgh, Residential, villas, full Electrical & AV • Barratt East, South Gyle Edinburgh, Residential, villas, full Electrical & AV • Barratt East, Jewel & Esk, Dalkeith - (Barratt East), Residential, villas, full Electrical & AV • Barratt West, Inchross Grange Phase 2, Bathgate, Residential, villas, full Electrical & AV • Cala East, Alnwickhill, Edinburgh, Residential, villas, full M&E • Cala West, Campsie Road, Strathblane, Residential, villas, full M&E • Cala West, Cala Homes West, Lenzie Phase 2 Extension, Residential, villas, full Mechanical • Miller Homes, Lindsayfield H33, East Kilbride, Residential, villas, full Electrical & AV • Robertson Homes, Block C3 (Fife Council), Abbey Walk, St Andrews, Residential, villas, full Taylor Wimpey, Torrance Park, Holytown Electrical & AV • Robertson Homes, Block C2 , Abbey Walk, St Andrews, Residential, villas, full Electrical & AV • Taylor Wimpey East Scotland, Bilson Phase 2, Edinburgh - Section 3, Residential, villas, full Mechanical • Taylor Wimpey East Scotland, Armadale North Phase 2, Residential, villas, full Mechanical • Taylor Wimpey East Scotland, Bilston - Melville Housing Association (Cottage Flats), Residential, villas, full Mechanical 16 Summary

Looking Forward with Increasing Confidence

• Solid Revenues of £112m • Interim dividend maintained • Record forward order book £320m • The recovery in our markets is clearly being driven from London • Strong order book provides a platform to grow the business and improve the profitability of the Group • The Board looks forward to 2016 and beyond with increasing confidence

1 2 3 4 Presentation Cover Picture Projects

1 London Wall Place 2 3 South Bank Tower 4 Rathbone Square 5 6 7 8 5 Bloomberg London 6 Project Nova, Victoria 7 Riverwalk House 8 Principal Place

17 Appendices

Appendices Page 19 PLC Board Page 20 Innovation - TClarke Safety App Page 21 TClarke Founded 1889 Page 22 Vision and Strategy

www. .co.uk 1818 PLC Board

1 David Henderson, Chairman 2 Iain McCusker, Senior Independent Director 3 Beverley Stewart, Independent Director 4 Tony Giddings, Independent Director

1 2 3 4

5 Danny Robson, Executive Director 6 Mike Crowder, Managing Director 7 Martin Walton, Finance Director 8 Mark Lawrence, Chief Executive

5 6 7

19 5 6 7 8 Innovation - New Safety App

Safety Everything starts with safety

Safety is priority number one with TClarke. Our new ‘You See, You Say’ App offers an industry leading advance in proactive safety hazard reporting.

20 TClarke Founded 1889

• TClarke and Co. Founded 1889

• Became a Limited Company 1911

• Listed on London Stock Exchange 1948

• 53% of shares acquired by Electrowatt Engineering Services, Zürich

• Electrowatt acquired by Siemens in 1998 and 53% holding placed with institutions

• UK presence expanded by acquisition and organically

21 Vision and Strategy

Our Vision TClarke aims to be a strong, successful and highly capable building services contractor, organised to create and take advantage of market opportunities for profitable growth across the construction industry; retaining TClarke’s traditional focus on delivery of high quality work, by highly-motivated and expert teams, sustaining long-term relationships and unlocking new streams of innovation to create value for all our shareholders.

Our Strategy Our strategy is to sustain world class building services capability and build a ‘growth-ready’ platform capable of exploiting existing and fast- changing opportunities for value creation.

Deliver complete , high quality, Build a ‘growth-ready’ unified brand advantages focus on Drive opportunities for nationwide building services business platform retain and innovation and relationships sustainable growth capability enhance our established

What we do TClarke is a nationwide building services contractor. We provide high quality work, innovation and project delivery, with the reassurance of our trusted brand. We create high quality engineering jobs and opportunities for our people.

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