Worley Limited · ASX:WOR
Worley — Investor Day (May 2025)
57 slides from Worley's investor day presentation, May 20, 2025
Slide 1: Leading from the front – Investor day May 2025
Leading from the front Investor day MAY 2025
Slide 2: Disclaimer
Disclaimer The information in this presentation about Worley Limited, guarantees or predictions of future performance or and the entities it controls (Group) and the Group’s outcomes. They involve known and unknown risks and activities is current as at 20 May 2025 and is in summary uncertainties, ma
Slide 3: Welcome
Welcome Kylie Ramsden Group Director Investor Relations Worley – Investor Day 2025
Slide 4: Agenda
Agenda Welcome Keynote speakers Introduction 1. Growing 4. Technology Solutions Kylie Ramsden shareholder value Laura Leonard SESSION Group Director, Group President, Technology Solutions Chris Ashton Investor Relations Chief Executive Officer 5. Deploying digital 2. Operations in focus Q Anup Sharm
Slide 5: Growing shareholder value
Growing shareholder value Business update and strategic progress Chris Ashton Chief Executive Officer Worley – Investor Day 2025
Slide 6: We're focused on growing shareholder value and delivering long-term growth
We’re focused on growing shareholder value and delivering long-term growth Well-positioned in a challenging landscape • Worley continues to support our customers as they navigate a more challenging environment whilst building on the foundations which underpin long term growth. • We operate in a mark
Slide 7: Business update
Pipeline1 Business update Independent of Venture Global Inclusive of Venture Global +14% +14% We reconfirm our FY25 outlook Independent of Venture Global our factored targeting low double digit EBITA growth and EBITA margins sales pipeline has grown (excluding the impact of procurement) between 8-8.
Slide 8: Strong bookings reflective of our resilience
Strong bookings reflective of our Sustainable resilience Transitional Traditional $9.4b Wins YTD as at 31-Mar-25 vs $9b at 31-Mar-24 22% pcp Strategic wins • bp awards three-year extension to • EPC for ExxonMobil’s low-carbon EPC contract in Oman hydrogen project in USA Breakdown of year-to-date win
Slide 9: We're leading from the front
We’re leading from the front Industry leader of energy, chemicals and resources experts Globally diversified expertise… supporting a world in transition… with end-to-end capability. ~50,000 people, operating Leading positions across traditional, Across the life cycle of our in over 45 countries tran
Slide 10: We have a clear competitive advantage
We have a clear competitive advantage Right people, right experience • High proportion of professionals with transferable skills • Global footprint attracts and retains top talent Deep customer relationships • Long-term partnerships built on trust and delivery • Deep industry expertise embedded in c
Slide 11: What drives us
What drives us Our Purpose Delivering a more sustainable world Innovate to unlock opportunities Expand and efficiency Strategy Strengthen into growth markets and along the value chain leadership in core markets Excellence in Prudent operational performance cost & capital management Rise to the Stron
Slide 12: How we're creating shareholder value
How we're creating Innovate shareholder value to unlock opportunities and efficiency Our strategy • Transform how we deliver work Expand • Develop digital and technology- driven solutions into growth markets and along the value chain • Targeted focus in developing Strengthen demand-driven markets •
Slide 13: We're stronger today
We’re Strengthened foundations 2021 Today1 stronger Energy 48% 30% today Sectors 37% Chemicals 50% 13% 22% • Strengthened core energy, Resources chemicals and resources position and expanded into key growth areas Americas Europe 24% Since 2021, we’ve 41% 43% 26% Geographies Middle east & Africa 12%
Slide 14: World in context: global headwinds… why we're resilient
World in context Recognizing the impact of global headwinds… why we’re resilient • Political and policy uncertainty • Proactive scenario planning • Tariffs and trade barriers • Working closely with our customers • Market dynamics • Diversified across sectors and regions • Geopolitical tensions and s
Slide 15: We have a clear set of priorities driving value for our shareholders
medium term We have a clear set of priorities driving value for our shareholders Operations reorganization Near Shift towards a more agile structure to extend full-project delivery Margin growth and cost management Rigorous attention to margin growth and cost efficiencies Full-project delivery capab
Slide 16: Operations in focus
Operations in focus Mark Brantley Group President EMEA APAC Mark Trueman Group President Americas Worley – Investor Day 2025
Slide 17: Our global footprint
Our global footprint 12,000+ active projects ~50,000 people 45 countries 17 Worley - Investor Day 2025 17
Slide 18: Regional updates
Regional updates EMEA/APAC AMERICAS Aggregated revenue Change in pipeline4 since HY25 Aggregated revenue Change in pipeline4 since HY25 4 3 5% 3 9% 46% 47% 2 45% 54% 2 19% 26% 13.1% 1 1 Segment margin excl. procurement 41% 32% 11.0% Segment margin excl. 35% procurement 27% 14% 14% - - H1 FY25 $b H1
Slide 19: Operationalizing our strategy
Operationalizing our strategy Strengthen Expand Innovate leadership in core markets into growth markets and to unlock opportunities and along the value chain efficiency ✓ Expanding GID and focusing on ✓ Cross-regional customer and sector ✓ Scaling digitally-enabled project project cost control diver
Slide 20: Our customers in focus
Our customers in focus We have a solid customer base, many of whom are well-capitalised global organisations ~50% of our revenue comes from our top 10 Our customers’ decisions reflect the strategic shifts we’re seeing in our markets: multinational customers • Rebalancing portfolios to support energy
Slide 21: Regional leadership perspectives
Regional leadership perspectives EMEA/APAC AMERICAS . . The Americas market is showing strength particularly Across EMEA and APAC, we're supporting customers who with oil and gas majors rebalancing their investments. hold a range of different strategies. Some are pausing We're seeing momentum build
Slide 22: Strategy in action
Strategy in action Drivers of growth over the short, medium and long term Andy Hemingway Executive Group Director, Growth Worley – Investor Day 2025
Slide 23: How we're creating shareholder value
How we're creating shareholder value Innovate to unlock opportunities and Our strategy efficiency • Transform how we deliver work Expand • Develop digital and technology- into growth markets and driven solutions along the value chain Strengthen • Targeted focus in developing leadership in core marke
Slide 24: We have conviction in our strategy
We have conviction in our strategy Consistent Leading results indicators Market size and growth $ Macro trends Long term Medium term Near term Result trends Pipeline Bookings Backlog • Revenue • Earnings • Margin Data supports confidence in our: Purpose Strategy development / Strategy execution / Pr
Slide 25: We're positively leveraged to macro trends
We’re positively leveraged to macro trends Consistent Leading results indicators Market size and growth $ Macro trends Upstream Oil & Gas capex Clean energy investment by Advanced Market value of key energy transition forecast revisions1 and Developing ecomonies2 minerals by IEA scenarios3 800 Dec-2
Slide 26: We're capitalizing on market opportunities
We’re capitalizing on market opportunities Consistent Leading results indicators Market size and growth $ Macro trends Market size1 Indicative growth in select markets2 (2025) (CAGR 2025-2028) $1.3 Integrated Energy3 $625b+ gas 5% Oil 2% trillion Specialty Chemicals $300b+ Petrochemicals 5% chemical
Slide 27: Where we play
Where we play Mature Developing Energy Oil Integrated Combustion Midstream Low-carbon Renewable Networks Nuclear Power to X Carbon gas energy energy hydrogen energy and energy SMR capture infrastructure storage (Cross sector capability) S8 Chemicals Petrochemicals Chemicals Refined Specialty Sulphur
Slide 28: We have strong internal leading indicators
We have strong internal leading indicators Consistent Leading results indicators Market size and growth $ Macro trends Pipeline 1,2 Bookings3 Backlog -11% 22% +$300m 33% 43% 1. Factored sales pipeline: comparison of expected opportunities to be awarded in next 12 months Sustainable Transitional Trad
Slide 29: Our results validate our strategic focus
Our results validate our strategic focus Consistent Leading results indicators Market size and growth $ Macro trends EBITA % excl. Normalized cash Aggregated revenue EBITA procurement conversion 16% CAGR 17% CAGR +1.9 pp H1 FY22 PF to H1 FY25 H1 FY22 PF to H1 FY25 H1 FY22 PF to H1 FY25 5,989 5,610 1
Slide 30: Our priorities are aligned with our strategy to drive value across the lifecycle
Our priorities are aligned with our strategy to drive value across the lifecycle of our customers’ assets Concept FEED / Engineering EPC/EPCM EPC / EPCM Optimize Remediate Asset lifecycle Delivery: execution, integration & construction Consulting: strategy, advisory, digital & environment Our priori
Slide 31: Technology solutions
Technology solutions Progress on our Build, Buy, Partner program Laura Leonard Group President Technology Solutions Worley – Investor Day 2025
Slide 32: Expanding our Process Technology portfolio
Expanding our Process Our proprietary solutions deliver value through: Technology portfolio Technology licenses Proprietary equipment & catalysts Demand Our EPF1 delivery driven strategic innovation approach Engineering packages Lifecycle services New customer demands Blending a Build, Buy, and emer
Slide 33: Enhancing our competitive advantage across the value chain
Enhancing our competitive advantage across the value chain Why we’re confident FEED/ EPC/ in our Process Concept Engineering EPCM Optimize Remediate Technology Solutions: Asset lifecycle 1 Differentiate 2 Broaden 3 Accelerate Strategically aligned Enhance our capability Implement emerging and differ
Slide 34: Technology Scaling as a Service
Technology Scaling as a Accelerating the scale-up and scale-out Service of emerging technologies from: Commercial Plant Pilot Plant We’re partnering to position Worley in Global impact emerging Local impact technologies Worley - Investor Day 2025 34
Slide 35: Where we play
Where we play We are cultivating relationships with emerging technology companies in strategically aligned subsectors Mature Developing Energy Oil Integrated Combustion Midstream Low-carbon Renewable Networks Nuclear Power to X Carbon gas energy energy hydrogen energy and energy SMR capture infrastr
Slide 36: Deploying digital
Deploying digital Progress on our digital solutions, including AI Anup Sharma Executive Group Director, Digital Worley – Investor Day 2025
Slide 37: Re-imagining speed to value: our digital engine for growth
Re-imagining speed to value Our digital engine for growth Revolutionise asset design, build & De-risk operation…Real time Improve Capital optimisation through asset Boost efficiency and drive cost lifecycle out across Customer Worley's efficiency and Value Chain while de- accelerate project risking
Slide 38: Enhancing our digital advantage
Enhancing our digital advantage How we drive impact for our stakeholders • Boosting capital efficiency Lower project costs and improved ROI • Accelerating project delivery Faster time to market and earlier revenue generation • Scaling workforce productivity Access to more capacity and expertise with
Slide 39: Delivering measurable outcomes
Delivering measurable outcomes Driving impact across OCP’s Mine Manufacture Port Farmer value chain • Improved asset • Lower total cost of • Reduced vessel • Strengthened productivity and ownership through turnaround time supply reliability operational efficiency optimized production and demurrage a
Slide 40: Powered by data. Driven by technology. Harnessed by our people.
Powered by data. Recently deployed solutions through our Driven by technology. Advanced Development Lab Harnessed by our people. AI.VendorSelect Value add: Drives accelerated and consistent Technical Bid Evaluation through AI-powered vendor analysis and comparison AI.HoldsFinder Value add:Reduces de
Slide 41: Financial discipline
Financial discipline Tiernan O’Rourke Chief Financial Officer Justine Travers Deputy Chief Financial Officer (Incoming CFO) Worley – Investor Day 2025
Slide 42: We've set solid foundations
Cash We’ve set generative solid Capital sourcing foundations Maintain leverage at or below 2.0x High conversion rate of income to free cash flow Low capital Maturity profile improvement and new debt transaction intensity Investment grade S&P rating Capital management We’re focused on investments tha
Slide 43: Margin improvement driven by deliberate strategic actions
Margin improvement driven by deliberate strategic actions Building blocks to higher margin New work being won at ✓ Focus on high value solutions – sharing in the value we bring to our customers higher margins ✓ Margin improvement continues to flow from pipeline1 to backlog to revenue ✓ Sole-sourced
Slide 44: Capital management principles
Capital management principles Our capital management architecture supports our growth plans with good liquidity, the maintenance of a strong credit rating and access to well-priced debt capital Continued focus on… Operating productivity Capital productivity • Robust cash management processes 85-95%
Slide 45: Closing remarks
Closing remarks Chris Ashton Chief Executive Officer Worley – Investor Day 2025
Slide 46: We have a clear set of priorities driving value for our shareholders
medium term We have a clear set of priorities driving value for our shareholders Operations reorganization Near Shift towards a more agile structure to extend full-project delivery Margin growth and cost management Rigorous attention to margin growth and cost efficiencies Full-project delivery capab
Slide 47: Outlook
Outlook The outlook presented • We continue to operate in an evolving geopolitical and macroeconomic environment. at H2 FY25 results1 remains consistent with • We're confident that as a well-diversified business with strong financial what we’re expecting for stability, we are well positioned and hav
Slide 48: Worley - Investor Day 2025
& & Worley - Investor Day 2025 48
Slide 49: Supplementary information
Supplementary information Worley - Investor Day 2025 49
Slide 50: Sustainability-related wins by project phase
Number of wins in different project phases for sustainability-related1 work YTD in FY25 vs FY24 Sustainability-related wins Traditional wins Project wins FY25 FY24 FY25 Wins by project phase Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Operations and 24 15 24 17 18 11 18 12 15 maintenance • Total number of sustainabi
Slide 51: Our diversified business
Our diversified business Sustainable1 | Transitional | Traditional A global leader delivering Sector aggregated revenue (%) aggregated revenue (%) knowledge-based project and asset services 6% 14% Traditional 1% • Leading position in energy, 24% Energy 17% Chemicals Transitional 10% chemicals and re
Slide 52: Energy
Energy Today’s landscape Why we’re confident Key themes driving change Our strategic differentiation • US policy shifts causing near-term demand • Early moves into growth markets (e.g. low- swings; medium-term oil stable carbon, grids) • Gas remains key for energy security and • Applying skills in a
Slide 53: Chemicals
Chemicals Today’s landscape Why we’re confident Key themes driving change Our strategic differentiation • Demand rising with energy transition and • Decarbonizing chemical operations with population growth. major customers. Highlights • Middle East and North America investing in • Strong customer re
Slide 54: Resources
Resources Today’s landscape Why we’re confident Key themes driving change Our strategic differentiation • Transition metals demand driving • Right capabilities, markets, and customers. strong fundamentals. • Working with fastest-moving investors. Highlights • Short-term volatility from supply and •
Slide 55: How we define our sustainability-related work
How we define our sustainability-related work We categorize our overall sustainability-related as the sum of Sustainable work and Transitional work. The combination of market segment and solution is used to determine how we categorize the work. We refer to all work falling outside of sustainability-
Slide 56: Glossary
Glossary $, $m, $b – Australian dollars unless otherwise stated, Australian GID - Global Integrated Delivery millions of dollars, Australian billions of dollars gm – Gross margin APAC - Australia, Pacific, Asia & China GST - Goods and Services Tax CAPEX - Capital expenditure H1/H2 – First half of th
Slide 57: Registered office
Registered office: Level 19, 420 George Street Sydney NSW 2000 Australia T: +61 2 8923 6866 E: investor.relations@worley.com E: media.relations@worley.com Worley Limited ABN 17 096 090 158 worley.com worley.com Worley - Investor Day 2025 57