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RCR Investor Presentat ion ASX Hong Kong & S ingapore Confe rence

Managing Director & CEO: Dr Paul Dalgleish

14 May 2013

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• Highlights

• Delivering Returns To Shareholders

• RCR Businesses

• RCR’s Acquisition of Norfolk (ASX: NFK)

- Strategic Rationale

- Overview Post Norfolk Transaction

• RCR’s Future Business Structure

• RCR’s HY13 Financial Performance

• RCR’s Business Units | Performance, Prospects & Outlook

• Strategy and Outlook

Agenda

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RCR | H igh l igh ts

EBIT (FY12)

increased

39%

NPAT (FY12)

increased

40%

Revenue (FY12)

increased

33%

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Del iver ing Returns To Shareholders

EPS (FY12)

increased

38%

Total Dividend (FY12)

increased

67%

Net Cash (FY12)

increased

$51.6M

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Tota l Shareho lder Returns (TSR)

• > 625% increase in TSR since May 2009

• Compound Annual Growth Rate (CAGR) from May 2009 in excess of 60% p.a.

Source: Lincoln Crowne & Company | S&P Capital IQ | TSR Period 20 May 2009 to 8 May 2013

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RCR Bus inesses

Engineering

and construction

for EI&C in resources and

infrastructure projects.

Technology leader in

power generation and

energy plants.

Leader in mining

equipment design and

manufacture.

Key Activities:

• Electrical maintenance,

construction and installation

• Electrical, Instrumentation

and control systems

• HV specialist

• Manufactured electrical

product and systems

(substations and

switchboards; above and

below ground)

Key Activities:

• SMP construction

• Underground Construction

• Mechanical installation

• Shutdowns

• Dragline Maintenance

• Maintenance

• Heat treatment

Key Activities:

• Power and energy plants

(HRSG, turbine, geothermal,

biomass)

• Combined Cycle Power

Plants

• Packaged boilers

• Conventional and renewable

fuels

• Burners, heaters and

combustion systems

• Servicing and maintenance

• Laser cutting

Key Activities:

• Materials handling equipment

• Apron feeders, belt feeders

• Radial Stackers

• Belt Reelers, Dozer Traps

• Mobile mining equipment

• Off-site repair

• Specialist manufacturing and

machining

Engineering and

construction for SMP in

mining and oil & gas

projects.

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RCR Acqu is i t ion o f Nor fo lk

• Market Leader with strong brands

• Diverse market exposure

• Annual Revenue (FY12) of approx $902M

• Strong Order Book

• 3,000 Personnel - Australia, New Zealand, Asia

A leading electrical and communications

engineering solutions provider.

Constructors who design, build and

maintain 'mission critical' infrastructure.

A leading mechanical engineering

solutions provider.

Delivering technically, environmentally

and geographically complex projects.

A leading provider of technical facilities

and property management services.

Offering a complete suite of integrated

facilities management services.

FY12 Revenue: $579M FY12 Revenue: $248M FY12 Revenue: $74M

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• RCR to acquire Norfolk by Scheme of Arrangement1

• Price of 48 cents per Norfolk share - total consideration of ~$78M

• RCR to assume Norfolk forecast debt $62M

• Equates to an Enterprise Value of ~$140M

• RCR’s own cash at bank and committed acquisition finance from a leading

Australian bank

• Norfolk’s Board unanimous recommendation *

• Maui Capital (20% shareholder) will vote in favour *

* Subject to no superior proposal and favourable independent expert report

• The transaction will be subject to Norfolk shareholder and Court approvals

and customary defeating conditions including:

- market fall condition

- regulatory requirements

- no material adverse change

Norfo lk Acqu is i t ion

Transaction

Overview

Consideration

Funding

Other Conditions

Board and Major

Shareholder

Support

1 Full details are available in the Scheme Implementation Deed as announced to ASX on 12 April 2013

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Stra teg ic Rat iona le

RCR will continue to deliver on strategy outlined in 2010

• Our clear objectives:

- Provide services direct to customers as prime contractor

- Target larger project opportunities

- Leverage IP-rich businesses into delivery of turnkey

solutions

• Strong balance sheet gives capacity to target growth through

acquisition

Specific initiatives for FY13 include:

• Target further large projects in Energy, Resources & Power

• Continue exploration for applications of our IP2C technology

• Expand mining equipment offering through Technology

Partnerships

• Further grow Energy business in SE Asia

• Diversify revenue through technology-based infrastructure

Norfolk

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• Increases earning diversification across Engineering and Construction

Sectors

• Earning accretive in first full year of ownership

• Large infrastructure client base

Stra teg ic Rat iona le

Revenue Diversification

Analyses based on FY12 financial information for RCR

21.3%

20.1% 48.8%

9.8%

RCR Revenue By Sector | Pre-Acquisition

Mining

Energy

Resources

Power

34%

56%

10% Resources

Infrastructure

Energy

RCR Revenue By Sector | Post Acquisition

Analyses based on consolidated FY12 financial information for RCR and Norfolk

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• Annual Revenues in excess of $1.8 billion *

• Balanced exposure to Infrastructure and Resources sectors

• Earnings accretive in FY14

• High degree of recurring revenue

• In excess of 5,000 employees with significant offices in all capital cities

and major regional locations

• Balanced national business plus improved critical mass in New Zealand

and Asia

• Post acquisition Net Debt of ~$80M and Debt to Equity ~35%.

* Based on RCR and Norfolk FY2013 Revenue consensus (RCR: $850M, Norfolk:$950M )

Overv iew | Post Nor fo lk Transact ion

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RCR Future Bus iness St ruc ture

Power

RCR Resources

RCR Mining

RCR Energy

• SMP construction

• Underground Construction

• Mechanical installation

• Shutdowns

• Materials handling equipment

• Apron feeders, Belt feeders

• Radial Stackers

• Mobile mining equipment

• Off-site repair

• Power and energy plants (HRSG,

turbine, geothermal, biomass)

• Combined Cycle Power Plants

• Packaged boilers

• Conventional and renewable fuels

• Burners, heaters and combustion

systems

• Servicing and maintenance

• Laser cutting

• Rail signalling and overhead wiring

systems

• Power generation, transmission &

distribution systems and generator

maintenance

• High voltage cabling, switchboards and

process control instrumentation

• installation and maintenance of

mechanical engineering and air

conditioning.

RCR Power

Norfolk ODG

Norfolk Haden

Norfolk Resolve FM

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RCR HY13 F inanc ia l Per formance

Firetail Ore Processing Facility, photographed during construction by RCR at the Fortescue Metals Group Ltd, Solomon Mine | Image courtesy of Fortescue

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• Sales revenue up 17% to $388M

• Earnings Before Interest and Tax (EBIT) up 42% to $19.3M

• Net Profit After Tax (NPAT) up 83% to $16M

• Well balanced Order Book at $465M

• Net Cash of $53.5M and no debt

• Interim Dividend of 2.5 cents per share fully franked

• Operating Margins improved to 5.0%

• Earnings per share up 83% to 12.1 cents per share

• LTI Frequency Rate reduced to 0.32, on increased activity

Revenue Increased

17%

NPAT Increased

83%

EBIT Increased

42%

HY13 High l igh ts

All amounts are representative of the six months to 31 December 2012

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EBITA margin improved to 5.5%

EBIT margin meets minimum 5.0% target

Effective tax rate at 21.8% includes R&D

benefits from prior years

HY13 Earn ings

HY13 HY12

$M $M

Revenue 388.4 333.1

EBITDA 26.5 20.6

Depreciation (5.2) (5.0)

EBITA 21.3 5.5% 15.6 4.7%

Amortisation (2.0) (2.0)

EBIT 19.3 5.0% 13.6 4.1%

Finance income / (cost) 1.2 (1.1)

PBT per half year report 20.5 12.5

Tax (4.5) (3.7)

NPAT 16.0 8.8

265.8 300.0

333.1 388.4

279.8

307.2

475.6

10 11 12 13

1st Half / 2nd Half Revenue - $M

4.9

10.3 13.5

19.3 9.6

15.8

22.7

10 11 12 13

1st Half / 2nd Half EBIT - $M

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HY13 Cashf low

• Operating cashflow of $22.7M

• Working Capital includes expected reduction in contract advances

• Strong underlying cashflows from Earnings and maintenance of Working Capital improvements

generated in past 2 years

• Capital investment includes completion of Welshpool development

(10.0)

10.0

30.0

50.0

70.0

90.0

OpeningNet Cash

EBITDA WorkingCapital

Mvt

DividendsPaid

Capex Other ClosingNet Cash

Cashflow - $M

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RCR Min ing

Installation of RCR designed-and-built Belt Feeder at Fortescue’s Solomon Mine

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RCR Min ing

Full Year Half Year

Performance

• Stable Revenue Generating Business

• Steady Backlog and Order book

- Standard Products and Spare Parts

- Recurring Off Site Repair (OSR) work

• Strong earnings and margin

- Productivity improvements

- Product mix change over time

Prospects and Outlook

• Current prospects remain solid for standard products

• In-Pit Crushing opportunities (IP2C) for Major clients

• Opportunity to deliver more complete Mine Process Solutions

- Through Technology Partnerships

• Recent awards of Off Site Repair work for Oil & Gas sector

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Pro jec t Summary

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RCR Energy

RCR’s Completed Gas Turbines and Heat Recovery Steam Generator System of 450MW for a Major Iron Ore Producer in Western Australia

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RCR Energy

Performance

• Acquired AE&E in 2011 (from Administration)

• Recurring revenues for Boiler Service, Maintenance

and Manufacturing $110M

• Sales increase following award of

BHPB Yarnima Power Project (Acquired Technology)

• Significant Margin expansion

- Increased sales of Technology Projects

- Improved commercial discipline

Prospects and Outlook

• Tendering several large Closed Cycle Power Plants

• Continued opportunities for embedded power for the

Resource industry

• Recurring upgrade and maintenance contracts with major

Australian utilities

• HRSGs and Boilers for steam generation

• Biomass energy projects in Australia, Europe & Asia

Full Year Half Year

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Pro jec t Summary

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RCR Resources

Firetail Ore Processing Facility | Constructed by RCR for Fortescue at its Solomon Mine in Western Australia. Image courtesy of Fortescue

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RCR Resources

Performance

• Major Revenue growth from the FMG Solomon Project

• Margin improvement predominantly through Revenue

expansion

• Extended work for Blue Chip Clients

- FMG

- Newcrest

- BHPB

- Woodside

Prospects and Outlook

• Further organic growth opportunities in Iron Ore

• Current ramp-up of LNG and CSG projects

- Gorgon ($50B)

- Wheatstone ($30B)

- Ichthys ($35B)

- 3 X Projects Curtis Island ($20B)

• Significant Projects gaining traction; Adani (Coal);

Roy Hills (Iron Ore)

• Move toward EPC delivery of major Resources projects

Full Year Half Year

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Pro jec t Summary

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Pro jec t Summary

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RCR Power

Electrical Infrastructure work carried out by RCR at Prominent Hill |Inset: RCR’s purpose-built switchboard manufacturing facility

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RCR Power

Performance

• Increased activity driven by FMG Solomon project

• Significant Margin expansion

- Larger Project size

- Improved commercial discipline

• Increased Revenue from Manufacturing

• Increased Panel Contract agreements with Clients

Prospects and Outlook

• Business will be merged with the ODG business

• Prospects include E&I and combined SMPE&I packages

• RCR awarded BHPBIO Panel contractor status for sustaining

capital projects

• Infrastructure opportunities

- Rail signalling and HV infrastructure

- HV substation and cable replacement works

- Infrastructure for Resource projects (Power and Transport)

Full Year Half Year

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Pro jec t Summary

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Susta inab i l i ty

RCR employees following pre-start meeting during construction at Firetail Ore Processing Facility, Solomon Mine

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Safety and Our Peop le

Performance

• LTIFR reduced by 24% to 0.32

• TRIFR reduced by 69% to 4.76

• 95% of RCR sites LTI free

• Leading Indicators

- 230,000 stop & think actions completed;

- More than 9,500 tool box & pre-start meetings held

- Over 14,000 Unsafe Acts Preventions

- Over 14,000 Job Safety Analyses conducted

Our People

• 2,449 employees (Dec 2012)

- Current Solomon headcount over 900 on site

• 162 Apprentices and Trainees

• Continued focus on increased diversity of the workforce

- Female workforce remained at 12%

- Targeting minimum 10% Indigenous workforce on

Solomon

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Stra tegy & Out look

RCR designed HRSG modules, arriving at Fremantle Port for transport to site at BHP Billiton’s Yarnima Power Station

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Stra tegy & Out look

RCR will continue to deliver on strategy outlined in 2010

• Our clear objectives:

- Provide services direct to customers as prime contractor

- Target larger project opportunities

- Leverage IP-rich businesses into delivery of turnkey solutions

• Strong balance sheet gives capacity to target growth through acquisition

Specific initiatives for FY13 include:

• Target further large projects in Energy, Resources & Power

• Continue exploration for applications of our IP2C technology

• Expand mining equipment offering through Technology Partnerships

• Further grow Energy business in SE Asia

• Diversify revenue through technology-based infrastructure

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Impor tant Not ice

• This presentation and any oral presentation accompanying it has been prepared by RCR Tomlinson Ltd (“RCR “ or the “Company”). It should not be considered

as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those

securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation.

• The material in this presentation includes a summary of the proposed acquisition of the Norfolk Group Limited (ASX: NFK) by RCR by scheme of arrangement

(Scheme). Details of the proposed acquisition of Norfolk are set out in a Scheme Implementation Deed as released to the ASX on 12 April 2013. Further

details about the scheme will be contained in a Scheme Booklet to be prepared by Norfolk which will be released in June 2013.

• This presentation provides information in summary form only and is not intended to be complete. It does not constitute an offer, invitation, solicitation or

recommendation with respect to the purchase or sale of any securities and the information contained in this presentation should not be relied upon by investors

or potential investors in making an assessment of RCR, Norfolk or the Scheme or in assuming any liability or other obligation. Investors or potential investors in

the securities of RCR or Norfolk should read the Scheme Implementation Deed dated 12 April 2013 and the Scheme Booklet to be released in due course for

further information in respect of the Scheme, and should consider seeking independent advice before making any decisions in relation to the Scheme.

• Certain information concerning Norfolk, its business and financial information has been prepared by RCR using publicly available information (together Norfolk

information) and none of Norfolk or its officers, employees, agents or advisors has independently verified any Norfolk information contained in this presentation.

• This presentation should also be read in conjunction with other publicly available material relating to RCR and Norfolk. Further information including historical

results and a description of the activities of RCR and Norfolk is available on each company’s website. To the maximum extent permitted by law, neither RCR or

its related bodies corporate, Directors, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from

fault or negligence, for any direct, indirect or consequential loss arising from the use of this presentation or its contents or otherwise in connection with it.

• This presentation contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of future performance,

involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. RCR has not

audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum

extent permitted by applicable laws, RCR makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and take no

responsibility and assume no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission, from any information,

statement or opinion contained in this presentation.

• You should not act, or refrain from acting, in reliance on this presentation material. This overview of RCR does not purport to be all inclusive or to contain all

information which its recipients may require in order to make an informed assessment of the Company’s prospects. You should conduct your own investigation

and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this

presentation before making any investment decision.

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