Worley Limited · ASX:WOR
Worley — WorleyParsons — ABN AMRO Australian Engineering and Construction Conference 2006
31 slides from Worley's conference presentation, Sep 20, 2006
Slide 1: Australian Engineering and Construction Conference
WorleyParsons resources & energy ABN AMRO Australian Engineering and Construction Conference David Housego — Chief Financial Officer September 2006 a when experience counts
Slide 2: Agenda
WorleyParsons Agenda resources & energy » WorleyParsons 101 » What’s happening in the industry » Minerals and Metals at WorleyParsons » Outlook for Minerals and Metals » Q&A when experience counts
Slide 3: WorleyParsons Background
WorleyParsons Background resources & energy » Leading professional services provider to the Energy, Resource and Complex Process Industries » Across all phases of projects IDENTIFY 1 SELECT 2 DEFINE 3 EXECUTE 4 OPERATE 5 » 4 Customer Sector Groups Hydrocarbons | Power | Minerals & Metals | Infrastru
Slide 4: Geographic Reach
WorleyParsons Geographic Reach resources & energy ioa Sranghai hiippines Mania ® Minerals & Metals locations 14,300 project services personnel |94 offices | 30 countries
Slide 5: Financial Highlights
WorleyParsons Financial Highlights resources & energy $M 2002 2003 2004 2005 2006 Aggregated Revenue 437.8 474.4 514.8 1,379.5 2,464.4 EBIT 25.9 32.1 40.4 102.3 199.5 EBIT margin 5.9% 6.8% 79% 7TA% 8.1% Net profit 17.7 25.9 30.7 66.5 139.1 Net profit margin 4.0% 5.5% 6.0% 4.8% 5.6% CAGR* 46.3% 31.7%
Slide 6: Share price performance
WorleyParsons resources & energy Share price performance Share Price Performance WOR vs ASX206 (indexed at listing - Nov 02) “THOG profit (up oA Me 7 (up 109% TTT Ssegesseseseesees ees egessegees ee 8 8 5 5 2 SB eB Fa 5 5S 2 2 2 2 68 5 2 2 5 & & § 3 SBFSe5 27 F FRR FESPES RBS ER PRE RSS ERS — WOR —
Slide 7: Differentiators
WorleyParsons Differentiators resources & energy » Committed, empowered and technically capable people » Industry leadership in Health, Safety and Environment » Outstanding corporate and operational performance » Focus on long term contracts and asset services » Success in project delivery-large and
Slide 8: What's happening in the industry
id] WorleyParsons resources & energy What's happening in the industry
Slide 9: What's happening in the industry: Customers
WorleyParsons What's happening in Minerals and Metals Tresources & energy Customers Top Five Global Companies: % of Global Production (Top 5): Cu Mining 19.3% Cu Smelting 5.9% HUH OMA Cu Refining 5.1% Ni Mining 16.0% Ni Refining 14.7% Zinc Mining 5.9% Zinc Refining 2.2% Iron Ore Mining 39.9% Ferro C
Slide 10: What's happening in the industry (continued)
WorleyParsons What's happening in Minerals and Metals resources & energy continued » Demand growth in all metal commodities ~— China primary demand driver (BRIC’s) « Overall growth rate > 8.5% « China’s GDP growth is M&M intensive, translates into high global demand — Can it continue? « Steady deman
Slide 11: What's happening in the industry (continued)
WorleyParsons What's happening in Minerals and Metals resources & energy continued » Focus shifting to new regions (reserves) to support long term demand outlook ~— Increased exploration in Latin America, Canada, Former Soviet Union, Sub—Sahara Africa » Chinese and Indian investment in projects to s
Slide 12: What's happening in the industry (continued)
WorleyParsons What's happening in Minerals and Metals resources & energy continued » Current high project activity levels globally ~ New production, expansions and debottlenecking ~ Australian experience”*: « Mining and Minerals Capex 79% higher than the 25Yr Avg (A$14.2b) « Base Metals exploration
Slide 13: Minerals and Metals at WorleyParsons
id] WorleyParsons resources & energy Minerals and Metals at WorleyParsons
Slide 14: Current Positioning
WorleyParsons Minerals and Metals Current Positioning resources & energy » Rapidly growing $200m business (10% of WorleyParsons) » Alliance and relationship contracting approach » Long and well balanced revenue profile: FY05 FY06 AS171 A$205 Alliance 32% Large Projécts 38% Large Projecis 43Y Base 30
Slide 15: Current Positioning
WorleyParsons Minerals and Metals resources & energy Current Positioning What we do In these sectors » Concept Feasibility Studies » Alumina » Front End Design » Aluminium » EPCM and PMC Project » Base Metals Delivery » Chemicals » Brownfield Asset Support i . ‘ » Steel (Sustaining Capital Alliances
Slide 16: Clients
WorleyParsons Minerals and Metals resources & energy Clients aul te bhpbilliton ERCOR @comaico BLE COrE A erabor of the Rin Fino Grey Fo oRICS ® Worsley Alumina Py Lic, GLENCORE Me ener INTERNATIONALAG ee HYBRO oy eS Ta. co feKenstDg SoS BMA SEP Bitton Mifsabisti Alene when experience counts
Slide 17: Projects and Alliances
WorleyParsons resources & energy Minerals and Metals Projects and Alliances Olympic Dam Expansion Prefeasibility Study (Copper) Windalco Prefeasibility Study (Alumina) Moly Mines Prefeasibility Study (Molybdenum) Beltana Feasibility Study (Coal) Nanshan Alumina Project BeMax Pooncarrie Project (Mine
Slide 18: BHP Billiton Olympic Dam
WorleyParsons BHP Billiton Olympic Dam resources & energy OOo Olympic Dam Expansion Prefeasiblity Study Engineering ‘ 3 a) : Services Contractor SSS Client: BHP Billiton Location: Australia Se a oe WorleyParsons in joint venture with SNC Lavalin has been awarded the engineering services contract for
Slide 19: Rusal
WorleyParsons Rusal resources & energy Dian Dian Prefeasiblity Study Client: Rusal Location: Guinea Rusal engaged WorleyParsons to undertake a prefeasibility review of development of the Dian Dian bauxite deposit in Guinea. The bauxite will ultimately be used to produce alumina for export. Facilitie
Slide 20: Ma'aden Phosphate Development
WorleyParsons Ma’aden Phosphate Development resources & energy Ma’aden Phosphate Development Project Client: Saudi Arabian Mining Company Location: Saudi Arabia Saudi Arabian Mining Company has engaged WorleyParsons to provide engineering and Project Management Services (PMC) for the Ma'aden Phospha
Slide 21: Worsley — BHP Billiton
WorleyParsons Worsley — BHP Billiton resources & energy LJ Worsley Development Capital Projects Client: BHP Billiton Location: Australia In December 2003 WorleyParsons delivered a Feasibility Study to Worsley Alumina for the AUD250 m brownfield upgrade to their existing facility. To maintain project
Slide 22: Aughinish
WorleyParsons Aughinish resources & energy [a Aughinish Optimisation Project Client: Aughinish Alumina Limited (AAL) Location: Ireland Following earlier WorleyParsons concept studies which helped identify innovative ways of optimising the existing operation, AAL engaged WorleyParsons in 2003 to furt
Slide 23: Tomago Aluminium
WorleyParsons Tomago Aluminium resources & energy Tomago Aluminium Alliance Client: Tomago Aluminium Co Pty Ltd Location: Australia Tomago Aluminium selected WorleyParsons as an alliance partner for the provision of project services including value adding, project management and implementation at th
Slide 24: OneSteel
WorleyParsons OneSteel resources & energy LJ OneStee!l Market Mills Engineering Alliance Client: OneSteel Market Mills Location: Australia WorleyParsons has established the OneSteel Project Services Alliance within the OneSteel Market Mills business. This multi-site alliance is responsible for the t
Slide 25: BHP Billiton
WorleyParsons BHP Billiton resources & energy Alliance Worley/Maunsell JV Olympic Dam Alliance Client: BHP Billiton Location: Australia The Olympic Dam Alliance (ODA) has been operating since April 2003. The Alliance is an integrated team of WorleyParsons, Maunsell and BHP Billiton personnel who und
Slide 26: Outlook for Minerals and Metals
id] WorleyParsons resources & energy Outlook for Minerals and Metals
Slide 27: Strategy
WorleyParsons Minerals and Metals Strategy resources & energy #1 » Focus on Brownfield services, create long term relationships, provide environmental and technical solutions » Maintain leadership position in delivery of “sustaining capital alliances’ #2 » Expand global footprint and increase availa
Slide 28: Outlook for Minerals and Metals
WorleyParsons Outlook for Minerals and Metals resources & energy The outlook for the Minerals & Metals sector remains positive with the continued pressure and competition for resources being the major constraining factor in the sector. The focus for 2007 will be on the transition of current feasibil
Slide 29: Outlook for WorleyParsons
WorleyParsons Outlook for WorleyParsons resources & energy We expect the markets for WorleyParsons’ services will continue to be strong. Our key markets and sectors are experiencing positive conditions and we are well positioned to respond to these opportunities. Subject to conditions remaining favo
Slide 30: Any questions?
WorleyParsons resources & energy Any questions?
Slide 31: Australian Engineering and Construction Conference
WorleyParsons resources & energy ABN AMRO Australian Engineering and Construction Conference David Housego — Chief Financial Officer September 2006 a when experience counts
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