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1 Version : 2011 Full Year Results David Harris Group Managing Director & CEO Chris Woodward Finance Director 29 August 2011

2 Agenda Business Overview Highlights FY 2011 Financial i Performance Business Reviews Strategy Outlook Leading international designer, installer and maintainer of technical services to the building and infrastructure sectors Hastie Group 2011 FY Results 2

3 Business Overview Rotary Mechanical, Electrical l & Plumbing (MEP) systems Hastie Mechanical, Electrical, l Plumbing (MEP), Fire & Refrigeration systems and Maintenance Services Hastie & Rotary Mechanical, Electrical & Plumbing (MEP) systems 14% OF FY11 REVENUE 77% OF FY11 REVENUE 9% OF FY11 REVENUE Employees 7,000+ Revenue FY 2011 A$1.8 bn Hastie Group 2011 FY Results 3

4 2011 Full Year Results Revenue $1,848m Underlying EBIT 1 $ 47.5m NPAT ($ 87.8m) Underlying EBIT result in line with Prospectus (June 2011) Impacted by difficult trading conditions and inclement weather Working Capital at 30 June 2011 significantly increased (+$82m) due to voluntary suspension and standstill agreement period (8 April 2011 to 18 July 2011) $2.5bn of Work-in-Hand 2 at 30 June new contract wins and active tender pipeline $160m (gross) capital raising completed in July 2011 of which $43m raised pre June 2011 New syndicated debt facilities agreed with banks providing funding and committed project bonding and letter of credit (LC) facilities until FY2014 and FY2015 No dividend declared for FY FY11 Underlying EBIT adjusted for acquisition costs of $0.3m expensed in line with revised accounting standards, provision for aged doubtful debts mainly in the Middle East and Republic of Ireland of $33.5m, a goodwill impairment charge of $69.1m in respect of Rotary businesses in the Middle East, a write down of $1.3m of Rotary brand name in Middle East markets and fees of $2.3m for the banks advisor during the standstill agreement. 2. Work-in-Hand includes orders in hand, letters of intent, expected project extensions/variations, small project sales and recurring service revenues. Hastie Group 2011 FY Results 4

5 Business Description Leading supplier of technical building solutions and maintenance services to a diverse customer base Unique integrated multi service capability Mechanical (air conditioning), Electrical, Plumbing (MEP), Fire, Refrigeration and Maintenance Services services co-ordination from a single source greater opportunity to value engineer integrated MEP offerings Hastie has the most extensive resource base in the industry engineering/design (D&C) capability project management experience across all project types experienced site personnel including supervisors Track record of successful project delivery, high quality of service and reliability resulting in certainty t of outcome Excellent safety performer, 35% average annual reduction in LTIFR since IPO in leader in driving industry safety initiatives Hastie Group 2011 FY Results 5

6 Operational Status Post Capital Raising Trade credit insurance to Hastie s s suppliers reinstated trading terms with suppliers being reinstated Internal organisation settling down Relationships with customers and suppliers normalising i - new contracts t secured Market conditions still challenging Focus on improving margins and cash management reducing working capital Middle East strategic review in progress Engaged external firm (Flagstaff Wild Consulting) to review MEP Australia s forecasting and budgeting processes. Hastie Group 2011 FY Results 6

7 Financial Snapshot A$m Change Revenue 1, , % Underlying EBIT (38.9%) Underlying EBIT Margin (%) 4.7% 2.6% (44.7%) Acquisition Costs (2.2) (0.3) Gain on Spectrum Acquisition Abnormal Project Provision (4.7) (33.5) Goodwill Impairment in respect of Rotary operations in Middle East Write off of Rotary brand name in respect of Middle East operations - (69.1) - (1.3) Banks' advisor fees in respect of standstill period - (2.3) EBIT 72.5 (59.0) Net Financing Costs (see next page) (20.6) (35.1) Income Tax benefit / (expense) (11.3) 6.3 Minority Interest (0.7) - Net Profit After Tax 39.8 (87.8) Hastie Group 2011 FY Results 7

8 Financial Snapshot A$m Net Financing Costs Interest Income Loan interest and fees (17.1) (21.0) Interest on contingent acquisition consideration (0.1) (0.3) Bank and Guarantee fees (2.7) (5.8) Loan Establishment fees (1.5) (5.1) Bank Standstill fees - (2.6) Net foreign exchange losses (0.3) (0.9) Total (20.6) (35.1) Hastie Group 2011 FY Results 8

9 7 Year Financial Performance Revenue ($m) EBIT 1 ($m) H 2H FY11 Underlying EBIT adjusted for acquisition costs of $0.3m expensed in line with revised accounting standards, provision for aged doubtful debts mainly in the Middle East and Republic of Ireland of $33.5m, a goodwill impairment charge of $69.1m in respect of Rotary businesses in the Middle East, a write down of $1.3m of Rotary brand name in Middle East markets and fees of $2.3m for the banks advisor during the standstill. FY10 Underlying EBIT of $77.8million adjusted for one-off acquisition costs of $2.2m expensed in line with revised accounting standards, abnormal $4.7m hospital project provision in the Caribbean and gain on acquisition of Spectrum Fire $1.6m. Hastie Group 2011 FY Results 9

10 Cash Reconciliation Net cash of $62 million at 30 June Net Cash 30 June 2010 EBITDA Increase in Working Capital Tax Paid Net Capital Expenditure Net Financing costs Net Proceeds Net increase from Equity in Borrowings Dividends & Minority Interests Net Acquisition Costs Foreign Exchange & Other Sundry Movements Net Cash 30 June 2011 Hastie Group 2011 FY Results 10

11 Working Capital Working capital abnormally high at 30 June 2011 due to the impact of the voluntary suspension and standstill agreement period in 2H-FY2011: increase in contract WIP due to under certification by customers tightening in trade credit terms by Hastie suppliers due to reduction in trade credit insurance Expectation is for Working Capital to begin to trend towards normalised levels during FY2012 with supplier trade credit insurance being reinstated 6.00% 6.00% les Working Cap pital as % of Sal 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 1.00% 4.20% 400% 4.00% 3.30% 2.49% 2.40% 2.50% 2.20% 1.90% 1.70% 0.10% 2006 FY H 2007 FY H 2008 FY H 2009 FY H 2010 FY H 2011 FY Hastie Group 2011 FY Results 11

12 Restructured Debt Facilities In conjunction with the Capital Raising, Hastie Group entered into restructured debt, project bonding and LC arrangements which provide significantly increased financial flexibility Staggered maturity profile, with the first maturity being 31 July 2013 (see profile on the right) Pricing grid on market terms Amended covenant package, including removal of the Adjusted Gross Leverage Ratio and appropriate covenant headroom (see table below) Amended covenant package $ millions Term debt and RCF maturity post the Offer and Debt Repayment FY2012F FY2013F FY2014F FY2015F Drawn Undrawn Previous 30 Sep Dec Mar Jun 12 Thereafter LTM Interest Cover Ratio 1 >3.00x 1.85x 185x 1.90x 190x 2.25x 225x 2.40x 240x 2.40x 240x Gross Leverage (Gross Debt / EBITDA) na 3.75x 3.75x 3.75x 3.50x 3.50x Gross Debt / Total Assets less intangible assets 60% 60% 60% 60% 60% 60% 1. For the purposes of calculating the Interest Cover ratio, net interest excludes bonding facility fees and amortising establishment fees and calculated on a rolling 12 months basis. Hastie Group 2011 FY Results 12

13 Safety Performance ion Man Hours Worked Inj jury Frequency Rate per Milli Lost Time Injury Frequency Rate Total Recordable Injury Frequency Rate FY11 another year of excellent performance 6 th consecutive year of sustained improvement in safety performance 35% p.a. reduction in lost time frequency rates and 32% p.a. reduction in total t recordable injuries since IPO Industry leader proactively driving industry wide safety initiatives Hastie Group 2011 FY Results 13

14 Underlying Divisional Performance A$m Change MEP ANZ Maintenance Services MEP UK & Rep of Ireland MEP Middle East Total Revenue 1, , % EBIT (48.6%) Margin 5.1% 2.4% (52.9%) Revenue % EBIT % Margin 4.3% 3.5% (18.6%) Revenue (18.1%) 1%) EBIT % Margin 2.1% 3.1% 47.6% Revenue % EBIT (53.3%) Margin 4.7% 1.3% (72.3%) Revenue 1, , % EBIT (35.0%) Margin 4.4% 2.6% (40.9)% 1. Rotary impacted by further weakening of GBP by $1.0m unfavourable translation of earnings between FY11 and FY10 exchange rates. 2. FY11 Underlying EBIT adjusted for acquisition costs of $0.3m expensed in line with revised accounting standards, provision for aged doubtful debts mainly in the Middle East and Republic of Ireland of $33.5m, a goodwill impairment charge of $69.1m in respect of Rotary businesses in the Middle East, a write down of $1.3m of Rotary brand name in Middle East markets and fees of $2.3m for the banks advisor during the standstill agreement period. FY10 EBIT adjusted for abnormal $4.7m hospital project provision in the Caribbean. Hastie Group 2011 FY Results 14

15 FY12 Group Outlook For personal use only Focus on stabilising relationships and improving cash flow and margins $2.5 billion Work-in-Hand 1 at 30 June % of expected FY2012 revenue covered $5 billion of tenders awaiting award, currently being worked on Poor performing plumbing businesses addressed Risk-managed approach strengthened : Middle East review in progress $ billion Forward Work-in-Hand FY2011 FY2012 FY2013 Revenue Work in Hand Flagstaff Wild Consulting engaged to review internal MEP forecasting and budgeting processes Increased scrutiny/review on cash management and forecasting Strengthened risk management review processes Challenging market conditions remain unknown impact from on-going volatility in global financial markets No change in forecast FY2012 earnings of $58m EBIT as per Prospectus 1. Work-in-Hand includes orders in hand, letters of intent, expected project extensions/variations, small project sales and recurring service revenues. Hastie Group 2011 FY Results 15

16 Disclaimer The information in this presentation: Is not an offer or recommendation to purchase or subscribe for securities in Hastie Group Limited or to retain any securities currently held Does not take into account the potential and current individual investment objectives or the financial situation of investors Was prepared with due care and attention and is current at the date of the presentation Actual results may materially vary positively or negatively from any forecasts (where applicable) in this presentation. Before making or varying any investment in securities in Hastie Group Limited, all investors should consider the appropriateness of that investment in light of their individual investment objectives and financial situation and should seek their own professional advice. Hastie Group 2011 FY Results 16

17 Leading international designer, installer and maintainer i of technical services to the building and infrastructure t sectors - Hastie Group Limited Level 5, 20 Highgate Street Auburn NSW 2144 Australia Hastie Group 2011 FY Results 17

18 Supplementary Information Leading international designer, installer and maintainer of technical services to the building and infrastructure t sectors Hastie Group 2011 FY Results 18

19 Geographic Revenue Split Revenue 2010 Revenue % Middle East & Other International 7% 0% 0% Australia & New Zealand 76% $1.7bn 0% Middle East & Other 0% International 0% 9% $1.8bn Australia & New Zealand 77% UK & Republic of Ireland 17% UK & Republic of Ireland 14% Hastie Group 2011 FY Results 19

20 MEP (Mechanical, Electrical, Commercial Plumbing) - ANZ Leading supplier of technical building solutions and refrigeration systems to a diverse customer base Significant losses in QLD and NSW plumbing businesses impacted results actions taken to address this Revenue maintained despite subdued non-residential construction sector Margins adversely impacted by continuing challenging market conditions Delays on two key projects in Australia Lack of capital invested in refrigeration systems by supermarket groups Floods in Brisbane adversely impacted Queensland performance in 2H-FY2011 Some better quality new work secured with order book up 20% on prior year A$m Change (%) Revenue 1, , % EBIT (48.6%) Margin 5.1% 2.4% (53.9%) Examples of Recent Contract Awards Royal Adelaide Hospital (final negotiations) Equinix Data Centre 161 Castlereagh Street (Sydney) 700 Bourke Street (Melbourne) Royal Brisbane Women s Hospital One Central Park (Sydney) Hastie Group H Results 20

21 Maintenance Services - ANZ Full suite of technical maintenance services, for more than 8,000 customers across Australia and New Zealand Revenue growth primarily due to Spectrum (Fire) - performing to expectation Unseasonally mild summer severely impacted 1H service call levels reduced HVAC PM uplift Floods and cyclone in Qld impacted HVAC revenue in 2H Discretionary HVAC maintenance spend at historical lows with highly competitive tendering margin impact Green Solutions launched - energy audits and energy reduction strategies for building owners and tenants A$m Change (%) Revenue % EBIT % Margin 4.3% 3.5% (18.6%) Examples of Recent Contract Awards Australia Post HVAC maintenance Woolworths Distribution Centres - HVAC maintenance AMP Commercial Fire services Royal Brisbane Fire services Fitness First (national) energy reduction solution Hastie Group H Results 21

22 MEP United Kingdom and ROI Specialising in mechanical, electrical and commercial plumbing systems across the UK and Republic of Ireland AUD appreciation impacting translation of earnings $1.0m unfavourable Bid margins remain tight due to aggressive tendering - some ability to pass onto subcontractors. UK remains subdued although signs of some recovery with privately funded developments - active tender pipeline Margin improvement in FY11 positively impacted by favourable closure of major projects Ireland continues to be tough (loss in FY2011 of $1.2m) GBPm Change(%) Revenue (8.8%) 8%) EBIT % A$m Change(%) Revenue (18.0%) EBIT % Margin 2.1% 3.1% 47.6% Examples of Recent Contract Awards Leeds Arena (Leeds) Snow Hill (Birmingham offices) Sheffield e Schools program (Sheffield) e St Vincent s Hospital (Dublin) Hastie Group H Results 22

23 MEP Middle East Specialising in air conditioning, electrical and commercial plumbing systems across the Middle East AUD appreciation impacting translation of earnings $0.6m unfavourable Focus remains on key builders & clients in preferred market sectors aligned with government priorities health and education Some delays on existing contracts impacted short terms results Cash collection a major focus payments continue to be drawn out Delays in issuing project bonds for new projects and trade letters of credit caused a delay in revenue and profit recognition. Key projects delivered on time Zayed University ($140m CV - Abu Dhabi) Al Ain University ($30m CV - Abu Dhabi) A$m Change (%) Revenue % EBIT (53.3%) Margin 4.7% 1.3% (72.3%) Hastie Group H Results 23

24 Operating Cash Flow A$,000s Jun 10 Jun 11 Cash generated from operations 59,726 (19,748) Income tax paid (8,117) (7,438) Net cash generated by operating activities 51,609 (27,186) Net Capital Expenditure (10,715) (10,148) Acquisition related (23,682) (12,420) Advances (to)/ from related parties (1,336) 80 Proceeds (Repayment) of borrowings 15,009 39,810 Proceeds (Payment) for share issue (114) 40,012 Interest and other costs of finance paid (20,074) (33,516) Dividends and non controlling interests (14,765) (9,589) Net increase (decrease) in cash (4,068) (12,957) Opening Net Cash 87,599 80,835 FX Differences & Sundry Movements (2,696) (5,784) Closing Net Cash 80, ,094 Hastie Group 2011 FY Results 24

25 Balance Sheet A$,000s Jun 10 Jun 11 Cash 84,051 71,665 Trade and other receivables 406, ,898 Inventories 34,450 83,001 Other 9,700 15,964 Current Assets 534, ,528 Property, plant and equipment 54,967 49,790 Goodwill 424, ,056 Other 40,221 37,327 Non Current Assets 519, ,173 Total Assets 1,053, ,701 Payables 322, ,894 Interest Bearing Liabilities 9,478 34,705 Provisions 53,439 58,155 Other 12,926 8,608 Current liabilities 398, ,362 Total liabilities 666, ,248 Net assets 387, ,453 Capital and Reserves 292, ,134 Retained earnings 92,734 (4,681) Minorities 1,559 Total Shareholder Funds 387, ,453 Hastie Group 2011 FY Results 25

26 Forecasts Australian Non-Residential Construction Forecast Australian Non Residential Construction A$m All Sectors Excluding Education 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5, Source : Australian Construction Industry Forum (ACIF), April 2011 Hastie Group 2011 FY Results 26

27 Forecasts UK Non-Residential Construction Forecast UK Non Residential Construction m 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Private Commercial Private Industrial Gov't Non Residential Source : Experian, Construction Forecasting and Research: Vol 17, Summer 2011 Hastie Group 2011 FY Results 27

Hastie Group Limited ASX 2010 Hong Kong Conference

Hastie Group Limited ASX 2010 Hong Kong Conference David Harris Group Managing Director & CEO 21 October 2010 Agenda Business Overview Financial Performance Business Outlook Strategy Leading international