Slide 1: Jacobs to Acquire Wood's Nuclear Business
Jacobs to Acquire Wood's Nuclear Business Delivering Global Nuclear Life Cycle Solutions August 20, 2019
Slide 2: Forward-Looking Statement Disclaimer
Forward-Looking Statement Disclaimer Statements made in this release that are not based on historical fact, including but not limited to the fiscal 2019 outlook, Wood Nuclear’s expected 2019 adjusted EBITDA and revenue, expected accretion of the transaction to Jacobs’ adjusted EPS for the 12 months
Slide 3: Jacobs Nuclear + Wood Nuclear
Jacobs Nuclear + Wood Nuclear Global Tier-1 Provider of Nuclear Life Cycle Solutions • Jacobs’ Tier-1 Nuclear Life Cycle position enhanced by technical expertise from Wood Nuclear • Adds proprietary technology, high value consulting and strengthens decommissioning capabilities • Provides platform to
Slide 4: Jacobs Existing Nuclear Overview
Jacobs Existing Nuclear Overview By the Numbers Global Nuclear Life Cycle Sustainable and Resilient Solutions 60 Year History in the Nuclear Sector • Strong program delivery to support on-going generation and life time extension $1.2 B+ Revenue • Proven delivery of nuclear site decommissioning and n
Slide 5: Wood Nuclear Business
Wood Nuclear Business ~$285M1 Geography3 Full Lifecycle Capabilities CY19E Revenue U.K. (~90%) Decommissioning and Remediation Western Europe (~5%) Consulting & Defense Rest of World (~5%) New Build and Generation Services >10%2 Research and Development Adj. CY19E EBITDA % Design Field Services > 60
Slide 6: Wood Nuclear R&D Analytics and Technologies
Wood Nuclear R&D Analytics and Technologies Proprietary Technology U.K.'s largest independent • ANSWERS® – Reactor nuclear laboratories performance & analysis, used in ~100 reactors across globe • SIAL® – cost effective waste encapsulation technology U.K.’s only accredited inspection • ConnectFlow®
Slide 7: Jacobs + Wood Nuclear Enhances Full Life Cycle Capabilities
Jacobs + Wood Nuclear Enhances Full Life Cycle Capabilities Combined Portfolio Revenue Geography by Revenue ~$1.5 B North America (~50%) Dismantling or decommissioning of nuclear sites including U.K. (~45%) Clean Up the clean-up of contaminated waste Employees Rest of World (~5%) (~70%) ~7,200 Enhan
Slide 8: Acquisition Well Aligned with Jacobs ATN Strategy
Acquisition Well Aligned with Jacobs ATN Strategy Delivering solutions for mission critical, government priorities Acquisition of ATN Strategic Commitments (February 2019) Wood Nuclear Expand Government Services core business, becoming premier provider; grow in highly profitable, complementary niche
Slide 9: Transaction Summary
Transaction Summary ● Enterprise value of £250m (~$300M) on a debt-free and cash-free basis Purchase Price ● Funded with cash on hand and existing credit facilities ● Represents an EV multiple of ~7.9x CY 2019E adj. EBITDA, assuming run-rate cost synergies ● Expected annual run-rate cost savings of
Slide 10: Strategic Combination Creates Value For Our Clients, Employees, Shareholders and Communities
Strategic Combination Creates Value For Our Clients, Employees, Shareholders and Communities 1 2 3 Acquisition provides highly Enhances Jacobs’ leadership Results in higher-margin business technical Nuclear solutions as Tier-1 nuclear provider with attractive financial returns Consistent with Jacobs
Slide 11: Q&A
Q&A