Looking to growth

LOOKING TO GROWTH THE FINANCIAL YEARS 2013 AND 2014 HAVE BEEN DEFINED AS MURRAY & ROBERTS ’ GROWTH YEARS WITH KEY OBJECTIVES IN THIS PHASE

GROWTH PHASE OBJECTIVES: AFRICA ENGAGEMENT STRATEGY Organic growth focus in individual markets from regional hubs Presence in Ghana, Zambia and Mozambique being established Africa growth to be accelerated during the 2013 financial year   GROWTH THROUGH ACQUISITION Opportunities identified include alternative energy and water Acquisitions will aim to align Group asset base with opportunities to maximise shareholder value Acquisitions being explored in Construction Global Underground Mining and Construction Australasia Oil & Gas and Minerals   CLOUGH STRATEGY Increase strategic alignment and positioning Investigate organic expansion opportunities Enhance synergies with Murray & Roberts (e.g. Marine) and look to Africa Expand EPCM capacity with acquisition

_____   Enhance shareholder value Resume dividend payments Selective market segment re-positioning in support of long term growth objective Increase offshore revenue base in support of long term growth objective Deliver operational, risk and contractual management excellenc Enhance the attraction, retention, diversity and performance of our people         HISTORICAL FINANCIAL PERFORMANCE   5 YEAR MARKET OUTLOOK   GROWTH OPPORTUNITIES                             01 CONSTRUCTION AFRICA AND MIDDLE EAST   Due to slow local market and significant project losses, performance has been poor   Local market to recover in the medium to long term with higher growth in certain segments   Expansion into Africa Segmental expansion and growth Select Middle East opportunities                                   02 CONSTRUCTION GLOBAL UNDERGROUND MINING   Well executed capitalisation on growth markets and a challenge to maintain growth   Global move from opencast to underground mines and growth in active regions   Geographic growth – Australia, Africa, Canada, USA and South America                                   03 CONSTRUCTION AUSTRALASIA OIL & GAS AND MINERALS   Poor historical results have been followed by steadily improving performance   Strong growth expected in the Australian and South Asia market   Increase exposure Segmental expansion and Southeast Asia growth                                   04 ENGINEERING AFRICA   Power programme impacted EBIT but recently platform performing well   Growth expected in certain key segments; power, water, mining and operations & maintenance   Segmental positioning and value chain expansion                                   05 CONSTRUCTION PRODUCTS AFRICA   Strong contributor to EBIT and revenue but margins and key ratios under pressure   Slow and competitive local market which may pick up on committed government spend   Exports and new products Africa expansion