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Wood Group Capital Markets Day Wood Group Capital Markets Day October 2012 Energy Supporting Energy Important notice This document has been prepared by the Company solely for use at the capital markets day of 1 October. The information in this document has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoever arising from any use of this document, or its contents, or otherwise arising in connection with this document. This document does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any shares in the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or investment decisions relating thereto, nor does it constitute a recommendation regarding the shares of the Company. Certain statements in this presentation are forward looking statements. By their nature, forward looking statements involve a number of risks, uncertainties or assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward looking statements. These risks, uncertainties or assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward looking statements contained in this presentation regarding past trends or activities should not be taken as representation that such trends or activities will continue in the future. You should not place undue reliance on forward looking statements, which speak only as of the date of this presentation. The Company is under no obligation to update or keep current the information contained in this presentation, including any forward looking statements, or to correct any inaccuracies which may become apparent and any opinions expressed in it are subject to change without notice. Overview Alan Semple – Chief Financial Officer, John Wood Group PLC Energy Supporting Energy Agenda . Introductions . Engineering division overview . Wood Group Mustang . Wood Group Kenny . Q&A 3 Timetable Start time Time Section Presenter 15.00 00.10 Welcome Alan Semple 15.10 00.20 Introduction to Mike Engineering division Straughen 15.30 00.50 Wood Group Mustang Steve Knowles 16.20 00.20 Break 16.40 00.50 Wood Group Kenny Steve Wayman 17.30 00.10 Recap and Q&A All 17.40 Drinks reception All 4 Wood Group organisation (from 1 November 2012) Wood Group Allister Langlands Chairman Bob Keiller Chief Executive Officer Alan Semple Chief Financial Officer Engineering Wood Group PSN Wood Group GTS Mike Straughen – Chief Executive Robin Watson – Chief Executive Mark Dobler – Chief Executive . UK . Wood Group Mustang . Americas . Maintenance . Wood Group Kenny . International . Power Solutions 5 Our business1 Wood Group Revenue Over $6bn People Over 41,000 Engineering Wood Group PSN Wood Group GTS . World leader in the delivery of . World’s largest production facilities . World’s leading independent industrial engineering services to the upstream, support provider gas turbine aftermarket provider subsea & pipeline and downstream energy sectors . 28,000 employees . 3,700 employees . 10,100 employees . c55% of Group revenue . c20% of Group revenue . c25% of Group revenue . Historic EBITA margin range . Historic EBITA margin range of 4.0% to 6.2% of 4.7% to 8.0% . Historic EBITA margin range of 9.8% to 14.2% . Typical project 3-5 years . Typical project 1-5 years . Typical project 3-24 months . Predominantly opex driven . Opex and capex driven . Predominantly capex driven 6 1 Employee numbers and revenue splits as per interim results to 30 June 2012. Divisional EBITA ranges based on reported high and low %s since 2006. Core Values . Safety & Assurance Safety & assurance is our top priority. We passionately care about the safety of our people and behave as safety leaders. We are committed to preventing injuries and ill health to our people and everyone we work with. Relationships Our business depends on healthy relationships with customers, business partners and suppliers. Social Responsibility Being socially responsible is integral to what we do. We aim to make a positive difference to the communities where we operate and seek ways to assist them. People People are our business. We are professional, high performing team players focused on delivering and drawing on our global expertise. Innovation Innovation gives us competitive advantage. Financial Responsibility We expect to receive fair reward for our business performance. We are cost aware and carefully manage our own and our customers’ costs. Integrity We are proud of our reputation, built over many years, which depends on us doing the right thing. 7 Key objectives for today . Understand our Engineering business and its drivers . Identify our positions in long term growth markets . Outline our competitive advantage and differentiation . Highlight our future potential and areas of focus 8 Engineering division Mike Straughen – Chief Executive, Engineering Energy Supporting Energy Engineering – Key facts1 . Independent engineering solutions provider with market leading positions . Expected to contribute c25% of Group revenue in 2012 . Anticipate annual EBITA growth in 2012 of over 30% (2011: 32.8%) . Generally work on low risk reimbursable contracting model . Employ 10,100 worldwide as of June 2012 . Operating in over 20 countries with primary hubs in Aberdeen, Calgary, Houston, London & Perth Revenue ($m) EBITA ($m) EBITA % Headcount 12,000 1,800 250 15 1,600 10,000 1,400 200 8,000 1,200 10 150 1,000 6,000 800 100 600 5 4,000 400 50 2,000 200 0 0 0 0 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 1H 2012 1 Taken from management information and published annual and interim report data 10 Delivering good through cycle growth Key market sectors and principal competition Sector Activities Competition Upstream c40% of . Offshore & onshore upstream facilities – deepwater Worley Parsons revenue topsides, shallow water jackets and topsides, KBR onshore production plant, heavy oil SAGD AMEC production, shale facilities, arctic technology Technip Jacobs Bantrel (Bechtel) Subsea & c40% of . Subsea, pipelines & integrity management – offshore IntecSea (Worley Parsons), pipeline revenue and onshore pipelines, subsea systems, flow Genesis (Technip) assurance, riser design, integrity analysis, joint Germanischer Lloyd industry projects management, renewables (wind and Gulf Interstate CO2 sequestration) Downstream, c20% of . Downstream, process & industrial – refineries, LNG & Fluor process & revenue regasification, petrochemical plants, automotive, Jacobs industrial industrial & manufacturing plants CB&I inc. Shaw Foster Wheeler 1 “Upstream” and “Downstream process & industrial” work is conducted by Wood Group Mustang. “Subsea & pipeline” work is conducted by Wood Group Kenny, apart from onshore pipeline work in the Americas which is conducted by Wood Group Mustang. 11 Delivering world class engineering solutions Market outlook and growth potential Market fundamentals driven by supply side challenges, such as depletion and complex or unconventional reservoirs, coupled with rising long term global energy demand Upstream . Global offshore market characterised by increasingly complex and technical challenges, large global projects and deepwater arenas . Onshore US benefiting from North American shale activity . Canadian oil sands market continuing to recover Subsea & . Subsea market has strong sustainable underlying drivers and sector pipeline spending remains robust . North America and Canadian oil sands driving opportunities in gathering, processing and compression for onshore pipeline Downstream, . Petrochemical production coming back to US markets, with gas as a process & feedstock industrial . Global refining market relatively stable with growth potential in Saudi Arabia, Latin America and China 12 Strong positions in good long term growth markets What we do Helping customers achieve predictable outcomes 13 Market leading positions Deepwater topsides Subsea solutions . Differentiated topsides capability . Largest independent subsea & pipelines technology . ENR ranked us as the no 1 design firm in group of its kind in the world offshore/underwater facilities . Engineered, managed or appraised more than half of . Involved in the design of all subsea developments in the main global arenas . more global deepwater floating platform . Analysed, designed or verified riser systems on over facilities than any other contractor 90% of floating developments in the UK sector of . well over half of all Gulf of Mexico North Sea, over 80% in GOM, and over 70% of West deepwater facilities African deepwater projects . 10% of global deepwater FPSOs Oil sands (in-situ) . We are currently engineering the world’s largest semi-sub production facility (Ichthys) . One of the leading providers of engineering, procurement and construction management (EPCM) services for in-situ thermal heavy oil developments in Canada Automation Downstream . Control Engineering ranked us as no 1 . One of the leaders in the design and engineering of system integrator giants of the year in 2012 grassroots and revamped
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