Worley Limited · ASX:WOR
Worley — Macquarie Equities Emerging Leaders Conference 2003
20 slides from Worley's conference presentation, May 5, 2003
Slide 1: Investor Update
Investor Update Presented by John Grill Chief Executive and Managing Director ro) Macquarie Equities 2603 Emerging Leaders Conference Pity
Slide 2: Agenda
Agenda Update on post ASX listing progress Minerals and Metals overview Alliances and ISCs Middle East overview Questions and answers
Slide 3: Background
Background e Leading professional services provider to the Energy, Resource and Complex Processes Industries e All phases of asset development i 2 3 4 5 IDENTIFY SELECT DEFINE EXECUTE OPERATE Licences Appraisal Asset Dev't Plans Detailed Design Maintain Exploration Concept Eng’g Front-end Design Con
Slide 4: International Operations
international Operations Worley Inited States hailand eure! Trinidad @ New Zealand 16 Countries 39 Offices Over 4000 Personnel {Oman & Trinidad offices opened December 2002)
Slide 5: Financial Performance
Financial Performance Worley Aggregated Revenue EBITDA EBIT Margin % Net Profit Margin % 437.3 33.4 25.9 5.9% 235.8 20.5 15.7 6.7% 11.5 4.9% 495.7 38.6 30.9 6.2% 22.6 4.6%
Slide 6: Minerals and Metals
Worley Minerals and Metals
Slide 7: Minerals & Metals - May 2000 to May 2003
Minerals & Metals - May 2000 to May 2003 Worley e May 2000 ~ Merger with Toussaint & Richardson ~ Light metals expertise (Alcoa) ~ $15m revenue — Traditional Phase 4 Scope : Project Detailed Design e Rationale for Worley ~- Industry diversification ~ Growth opportunity by adding Worley’s ~ Large pro
Slide 8: Minerals & Metals - May 2000 to May 2003
Minerals & Metals - May 2000 to May 2003 Worley e Second largest industry sector — revenue 2003 $60m+ e Larger projects such as ~ Comalco for Bechtel ~ AMC for Leighton e Alliances now in place ~ Western Mining - Olympic Dam, Fertiliser, WA Nickel ~ Worsley — Hydro Kurri Kurri e International opport
Slide 9: Alliance & ISC Conversion
Alliance & ISC Conversion Traditional y gy Alliance 1 2 3 4 5 ISC FY | | DEFINE EXECUTE [fj OPERATE ZB Client Worley |_| Contractor Worley Joint Venture
Slide 10: The Woodside Relationship
The Woodside Relationship Worley’s relationship with 1 2 3 4 5 Woodside commenced in 1984, 1984 rnewrry4 seLecr 4 DEFINE eee providing design for projects. Transfield Worley services Woodside’s North West Shelf 1 2 3 4 5 assets through: 1990 | | eNny 4 SELECT 4 ECUTE a orenare e Delivering minor and
Slide 11: Alliance & ISC Concepts
Alliance & ISC Concepts e Alignment of Goals ~ Risk / reward link to objectives ~ Performance indicators (4—5 simple measures) ~ Challenge and reassess process ~ Full outsourcing of capability e Financial Metrics ~ Open book costs and risk / reward margin ~ Cash and funding cycle ~ Utilisation ~ Ris
Slide 12: Performance Scorecard
Performance Scorecard Alliances and ISCs work because they deliver value for clients. Ea PORPORMAICE STEMECARD Sena 10 G2%e: February i002 “What was heartening was the way both Woodside and Transfield Worley personnel worked together. Results at year-end showed that costs associated with simple fabr
Slide 13: Middle East
Middle East
Slide 14: Middle East Update
Middle East Update Worley @ Next phase of international expansion after South East Asia e Established presence in 2000 Current locations @ Saudi Arabia (500 personnel) ® Qatar (100 personnel) ® UAE (50 personnel) audi arabia @ Oman (20 personnel) @ iran (10 personnel) e Revenue ~ FY2000-$2m ~ FY2003
Slide 15: Worley Arabia
Worley Arabia e 2000 - established joint venture in Saudi Arabia e Key client is Saudi Aramco @ 2001 — contract extension ONSHORE General Engineering Services ~ USD 500m CAPEX over next three years Contract: 6 years Scope: Phases 3 and 4 Revenue: ~ AUD18m per annum IDENTIFY 4 OPERATE
Slide 16: Worley Arabia
Worley Arabia @ 2003 — secured OFFSHORE Facilities - Maintain Potential Program (MPP) Contract — against US / European competitors ~ USD1.5b CAPEX over next five years Contract: 5 year contract plus options for 2 + 2 Scope: Phases 3 and 4 Revenue: ~ AUD30m to 45m per annum 2 5 IDENTIFY , SELECT yore
Slide 17: Saudi Aramco
Saudi Aramco Worley Estimated Revenue is USD60b per annum ot 2002 Saudi Aramco. All rights reserved e Operations span the entire Kingdom of Saudi Arabia & territorial waters in the Arabian GulffRed Sea e The world’s largest oil producer at 8 million barrels per day — about 10% of global total @ Aram
Slide 18: Regional Clients
Regional Clients Petrolran SAFF / Sadr.
Slide 19: Middle East Summary
Middle East Summary Key market for all industry sectors ~ Oil & Gas, Refining, Petrochemicals underway ~ Minerals & Metals, Industrial & Infrastructure Establishing a network of offices, partners and clients Hub support from Australia and Malaysia Commitment and investment in market is important Bui
Slide 20: Worley and Iraq
Worley and Iraq @ Well positioned in the region to support the redevelopment of Iraq - Oil and Gas ~ Industrial and Infrastructure ~ Refining and Petrochemicals e Participated with Minister Vaile in trade mission to Washington e Subcontract / contract work will be available on normal commercial term
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