Slide 1: Earnings Presentation Third Quarter Ended August 31, 2008
TAQL Acergy EARNINGS PRESENTATION THIRD QUARTER ENDED AUGUST 31, 2008 OCTOBER 8, 2008
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements made in this presentation may include “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the US Securities Exchange Act of 1934. These statements may be identified by the use of words like “anticipate,
Slide 3: Overview
Overview = Strong quarterly results demonstrating consistent and successful execution of complex and technically challenging projects worldwide, such as Saxi Batuque (Angola), Sage Hot Tap (North Sea), Lui Hua (China) and Frade (Brazil) = Strong operational performance from project portfolio and imp
Slide 4: Financial Highlights
Financial Highlights In $ millions ‘Three-Months Ended Nine-Months Ended ‘August 31, | August31, | August 31, | August 31, 2008 2007 2008 2007 unaudited | unaudited | unaudited _| unaudited Continuing operations: Net operating revenue 753.3 709.2 2,131.6 1,909.0 Adjusted EBITDA 182.4 140.6 417.8 316
Slide 5: Cashflow Highlights
Cashflow Highlights In $ millions ‘Three-Months Ended Nine-Months Ended August 31,2008 August 31, 2008 Net Income attributable to equity holders 216.1 Depreciation and amortisation 85.8 Other non cach items from operations a6) Changes in working capital (66.1) Net cash from operating acti 127.2 224.
Slide 6: Balance Sheet Highlights
Balance Sheet Highlights In $ millions as at Rugust 31, | November 0, | August 31, 2008 2007 2007 unaudited Audited unaudited Property, plant and equipment 918.2 a14.2 Interest in associates, 152.1 106.4 Trade and other receivables 514.7 506.4 Other accrued income and prepaid expenses 339.7 273.4 Ca
Slide 7: Regional Business Performance: Africa and Mediterranean
Regional Business Performance Acergy Africa and Mediterranean Quarter Ended Nine Months Ended August 31 August 31 500 3,000 , 2682, 9683 ¢ = 5 = 250, = 500 = * 550 2002 5397 ot —— o+ Net Operating Net Operating Net Operating Net Operating Revenue Income Revenue Income 2008 m2007 92008 92007 As expec
Slide 8: Regional Business Performance: Northern Europe and Canada
Regional Business Performance Acergy Northern Europe and Canada Quarter Ended Nine Months Ended ‘August 31 August 31 o+ Net Operating —_Net Operating Net Operating Net Opere Revenue Income Revenue Income 2008 2007 02008 @ 2007 = High levels of SURF and IMR activities; absence of trunkline revenue co
Slide 9: Regional Business Performance: North America and Mexico
Regional Business Performance Acergy North America and Mexico Quarter Ended Nine Months Ended 10 August 31 10 August 31 ©. a o Net Operating Net Op fo Net Operating Net opp Revenue Income (toss) Revenue Incom ) 2008 2007 192008 92007 = Project management and engineering support for SURF project in B
Slide 10: Regional Business Performance: South America
Regional Business Performance Acergy South America Quarter Ended Nine Months Ended coup AUgUst 31 August 31 175 i E 125 75 33 9.0 25 32109) -25 Revenue —_Income (Loss) Revenue —_Income (Loss) 12008 m2007 2008 92007 = Good revenue contributions from SURF projects and the Mexilhao Trunkline Project =
Slide 11: Regional Business Performance: Asia and Middle East
Regional Business Performance Acergy Asia and Middle East = | Net Operating Net Opl Net Operating Net Operating -20 Revenue Income (Loss) Revenue Income (Loss) 2008 m 2007 2008 m 2007 = Higher activity, including completion of the Liu Hua Project = Good progress on other projects, including Van Gogh
Slide 12: Major Project Progression
Major Project Progression Continuing Projects >$100m, between 5% and 95% complete as at August 31, 2008 - excl, long-term ship charters in Brazil and the North Sea Moho Bilondo (Congo) Tombua Landana (Angola) Kizomba C - Saxi Batuque (Angola) Block 15 (Angola) Marathon ¥ olund (N.Sea) Mexilhao (Braz
Slide 13: Backlog Analysis
Backlog Analysis In $ millions as at: Aug.31.08 | May.31.08 | Aug.31.07 Backlog 3,261 3,649 2745 Pre-Backlog 176 244 335 Backlog by Region Backlog by Award Date Backlog by Execution Date 100% Asia & Middle Eat South America 2010+ 60% oe North America a Meno Northern Europe ‘& Canada afiica & Mediter
Slide 14: Summary
Summary = Strong financial and operational performance for the quarter: = Revenue increased 6% = Gross profit increased 25% a Adjusted EBITDA increased 29% delivering an adjusted EBITDA margin of 24.2% = Net income increased 47% = EPS increased 53% to $0.58 = Confirmation of 2008 guidance = Consiste
Slide 15: TAQL
TAQL [LOGO OF ACERGY] EARNINGS PRESENTATION THIRD QUARTER ENDED AUGUST 31, 2008 OCTOBER 8, 2008 3:00 PM UK TIME seabed-to-surface Forward-Looking Statements Certain statements made in this presentation may include “forward-looking statements” within the meaning of Section 27A of the Securities Act a