Slide 1: 2019 AGM
2019 AGM 16 May 2019 Caltrain project: US$697 million contract for the electrification of the 52-mile rail corridor between San Francisco and San Jose
Slide 2: Philip Aiken AM, Chairman
Lean Philip Aiken AM caper Chairman Trusted Balfour Beatty
Slide 3: Build to Last goals
Build to Last goals Delivering on all Build to Last goals 2
Slide 4: 2018 Build to Last highlights
2018 Build to Last highlights Delivered industry Gross debt reduced by 40%; standard margins paid down convertible bonds Order book up 11% Construction Services profit to £12.6 billion from operations up 32% Value being created through Build to Last 3
Slide 5: Leo Quinn, Group Chief Executive
Leo Quinn Group Chief Executive
Slide 6: Wider benefits of Build to Last
Wider benefits of Build to Last Average net cash/(debt) Earnings based businesses profit/(loss) from operations* £m £m (371) (46) 194 (144) 13 141 2014 2016 2018 2014 2016 2018 Other net operating expenses* UK voluntary attrition: moving annual average £m % 459 333 284 16% 14% 12% 2014^ 2016^ 2018 2
Slide 7: Strong market pipeline
Strong market pipeline TOTAL OPPORTUNITY HS2 RIIO CP6 Rail GD2 Heathrow HS2: Systems A303 M25 UK Lots Heathrow Expansion Lower >£10bn N1 & N2 RIS 2 Thames HS2: Old Third Western Crossing Midland AMP7 Oak Runway Rail Met. Common Link The Disney – Block Wharf River 216 Country CA High US Speed Texas W
Slide 8: Managed growth
Managed growth 2018 order book Circles of risk Geography Contract Customer Team Project UK Construction US Construction Gammon Support Services: Utilities Support Services: Transportation Embedding a culture of active risk management 7
Slide 9: Market leading engineering expertise
Market leading engineering expertise Dorenell Hinkley Wind Farm Point C Installed 148 Marine tunnels, composite poles M&E, cabling & overhead lines Eleclink AWPR Two 50km cables 58km dual through Channel carriageway with Tunnel 72 structures Expertly positioned to lead the market 8
Slide 10: Capital priorities
Capital priorities Invest in opportunities to c.£440 million invested in capex, capability 1 strengthen market leadership & equity assets to date through Build to Last Over 40% gross debt reduction in year; 2 Pay down borrowings next material repayment £112 million preference shares in July 2020 Div
Slide 11: Balfour Beatty
Balfour Beatty
Slide 12: Forward-looking statements
Forward-looking statements Disclaimer Cautionary statements: This presentation may include certain forward-looking statements, beliefs or opinions, including statements with respect to Balfour Beatty’s business, financial condition and results of operations. These forward- looking statements can be