Positioned for Global GrowthRichard Leupen, Managing Director and CEOMacquarie Australia Conference, Sydney3 May 2012

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Strategic Overview

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UGL Today

Marketcapitalisation Our

values

Sectors Geography Customers Services

A service company focussed on outsourcing, andsupporting essential infrastructure, resources and property assets

safety, integrity, outstanding customer service, teamwork, honesty and openness in communication

• Technology partners• Alliance or

risk-sharing contracts• EPCM• Global coverage• PPPs

• Power• Rail• Resources• Property• Transport• Water

• Australia & New Zealand

• Asia• Middle East• North America

• Government• Blue-chip companies• Institutions

• Project management• Engineering design• Construction• Fabrication• Asset management• Operations• Maintenance• Corporate real estate• Facilities management

A$2.2BPeople(including contractors) 55,000FY11 revenue A$4.6B

Delivery method

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Our Strategic Journey

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Drivers for Growth

Sector Leadership

• Resources• Power• Water• Rail• Transportation• Property

Risk Management

• Robust systems and processes• Alliance and cost-plus contracts• Blue chip and government clients• Sensible, balanced trading terms• Geographic diversification

Financial Strength

• Strong balance sheet• Low capital intensity• Robust cash flow• Flexibility to grow

Sustainable Earnings

• Balanced recurring revenues• Long term capital works alliances• Diverse earnings streams• Strong order book• Solid opportunity pipeline

Market Leadership

• People• Safety• Technology partnerships • Intellectual property • Outstanding customer service

UGLStrategy

Business Positioning

• Exposure tolong term growth trends

• Significant market opportunities• Strong technical component• World class technology• End to end solutions

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Key Areas of Strategic Focus

Property Integration

• Becoming the world’s third largest property services company• Capitalising on unique service offering• Leveraging exposure to Asia and US recovery

• Core values remain unchanged• Remain vigilant on cost management• Significant investment in people and systems ongoing• Risk management framework critical to support sustainable growth

• Global trend towards public and private sector outsourcing expected to grow and endure

• New operational structure will enhance our ability to be a significant participant in the outsourcing of essential services

• Realigning into 3 business units from 1 July 2012: Engineering, Operations & Maintenance (incl. Defence), Property

• Enhance market focus and delivery across key sectors• Building world class competencies in project and programme management

Business Realignment

Global Outsourcing

Core Foundations

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DTZ - Already Delivering Momentum

Global Footprint

• Expanded footprint covering the UK, Europe and Asian markets• Increased exposure to high growth markets especially China, India and

Singapore

• Over $300 million in new wins across the combined property services business since acquisition

• Significant momentum in tendering activity for global mandates

• Collaboratively working across regions and clients to secure new wins• Key revenue generators retained• Business improvement plans on-track• Targeting industry average EBIT margins within 18-24 months• Potential rebranding to DTZ progressing

• Self perform versus agency model• Truly integrated end-to-end service offering to clients globally and to global

clients seeking a single solutions provider• Combined platform being well received by clients• All key clients retained and new clients engaged

Differentiation From Peers

Win Momentum

Business PerformanceF

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Key DTZ Wins Since Acquisition

• Molex: global portfolio management, transaction advisory and lease administration (35 countries, 145 locations)

• Clarcor: site selection, incentives and brokerage consulting for expansion of production facilities and offices in China to a new facility of over 700,000 SF

• Klépierre: bi-annual valuation of over 70 shopping centres across Europe

• Shanghai Tower: pre-completion consultancy including market research, project positioning and leasing strategy

• Multinational company: 2 year extension of contract and commitment to develop a “perpetual partnership”. Full estate management and transaction services across 4,000 locations in North America, Asia and Europe

• Major Chinese technology company: relocation of China facilities

• Major French retail company: valuation of 131 properties across Europe

• Investment management: new major pension fund account in the UK For

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Our Fully Integrated End-to-End Property Services Offering

Leasing Agency and Brokerage

Investment and Asset Management

Research

Valuation

Energy and Sustainability

Consulting

Project Management

Tenant Representation

Property Management

Integrated Facilities Management

Capital Markets / Investment Agency

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Core Services

• Advice on the sale, acquisition and funding of commercial real estate

• Brokered over $40bn in investment transactions in the UK in last 5 years

• #1 investment agent in China

Research

Valuation

Leasing Agency and Brokerage

Integrated Facilities

Management

Energy and Sustainability

Capital Markets / Investment

Agency

Investment and Asset

Management

Property Management

Consulting Project Management

Tenant Representation

Global Corporate Services

• Consultancy services on complex real estate development

• Advised on over 100 town centre regeneration schemes in the UK

• Advised on commercial development of 250 metro stations in China

• Advice on real estate sustainability strategies to meet sustainability goals

• A single point of contact for multinational occupiers

• Unified access to global leasing agency and brokerage teams

• End-to-end facilities management and maintenance services

• Working with clients to achieve specific risk/ return objectives from property portfolios

• More than $12bn in FUM across UK/Europe• Best performance track record of any UK

investment management firm

• Advice and transaction execution on behalf of landlords, developers and occupiers

• #1 retail leasing agent in the UK

• Consultancy services to support clients in the construction, refurbishment and maintenance of properties

• 1,000 projects managed globally with combined capital value close to $2.4b

• Property management for investors and occupiers

• Manage property for half of the top 20 occupiers in the world

• #1 in property management in China

• High quality research on commercial property markets worldwide

• Coverage across 30 countries and over 60 cities

• Advice on leasing and lease administration on behalf of tenants

• Valuation, appraisal and due diligence advice

• Valuations worldwide in excess of $390bn • #1 in valuations in China, top 3 in UK and

key European markets

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Representative Clients by Industry

Commercial/Corporate

Financial Institutions

Government Public Venue/Institutions

Technology/Life Sciences

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Select Client Projects

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Global Footprint in Property Services

45Countries

194Cities

$1.9b¹Combined Revenue

45,000Personnel

24,000Employees

Combined UGL Services and DTZ

¹ Based on FY2011 revenue for UGL and FY2012 estimate for DTZ. Assumes an A$:£ exchange rate of 0.611

#1 CRE firm in Greater China

Top 4 CRE firm in UK

#1 CRE firm in Netherlands

#1 in Sweden in Valuation & Corporate Services

Top 4 CRE firm in Germany

#1 in Poland in Property

Management, Retail &

Corporate Services

#1 in Qatar in Valuation, Leasing Agency,

Consulting & Corporate Services

#1 Most Recommended CRE

firm in 2011 (Watkins Research

Group)

#1 in Czech Republic in

Retail & Corporate Services

Market leading positions in Singapore &

ANZ

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Market Position in Property Services

Key attributes:• Global coverage• Single brand• Majority / equity ownership• Full service

Global / controlled

Local / alliance

Narrow Broad

Coverage

Scope of services

CBREJLL

UGL Services and DTZ

C&W

Colliers

SavillsKnight Frank

BNP Paribas REGrubb & Ellis

Cassidy TurleyNewmark

GVAAOS

Cresa PartnersStudley

Key players in property services

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Becoming a Global Property Services Leader

0.30.4

1.1

1.6

1.4 1.3

1.9

FY06 FY07 FY08 FY09 FY10 FY11 FY11Pro‐forma

Property Services revenue ($bn)

UGL acquires facilities services firm UNICCO,adding 20,000 employees in North America

UGL acquires Singapore-based Premas, expanding into 16 major cities in Asia

UGL acquires CRE firm DTZ, expanding presence in the UK, Europe, Middle East and Asia

2005 2006 2007 2011

UGL acquires Chicago-based CRE firm Equis, establishing a presence in the US and India

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Australia71%

North America20%

Asia/ROW9%

Property Services

29%

Rail27%

Infrastructure23%

Resources21%

Property Services37%

Infrastructure21%

Rail24%

Resources18%

EMEA7%

Americas19%

Australia65%

Asia9%

DTZ Impact on UGL

Pre DTZ - FY2011 revenue by division Post DTZ - FY2011 pro-forma revenue by division

Total FY2011: A$5.1bnPre DTZ – FY2011 revenue by region Post DTZ – FY2011 pro-forma revenue by region

Total FY2011: A$5.1bn

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Total FY2011: A$4.6bn

Total FY2011: A$4.6bn

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EMEA19%

Asia Pacific30%

Americas51%

Facilities Management72%

CRE28%

DTZ Impact on Property Services

Pre DTZ - FY2011 revenue by service line Post DTZ - FY2011 pro-forma revenue by service line

Pre DTZ – FY2011 revenue by region Post DTZ – FY2011 pro-forma revenue by region

Total FY2011: A$1.9bn

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Total FY2011: A$1.9bn

Facilities Management

92%

CRE8%

Total FY2011: A$1.3bn

North America69%

Asia Pacific30%

ROW1%

Total FY2011: A$1.3bn

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Key Future Success Factors for UGL in Property Services

Global IT platform

• Rolling out a single, comprehensive property IT platform globally over the next 12-18 months

• Market leading, bespoke system allowing significant differentiation from peers

• Continued trend to outsource and globalisation of clients creating significant opportunities for future growth

• Highly fragmented market with a limited number of global competitors• Opportunities to participate in industry consolidation to build further scale and

market leadership

• Total global property market estimated at US$125bn• Top 5 property services companies represent only around 10% of total global

market

Addressable Market

Industry Consolidation

Global Outsourcing

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HY2012 Results Highlights

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Revenue & Profit Growth(underlying results)

Operating Revenue ($m) Net profit after tax ($m)

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EPS & DPS Growth(underlying results)

Earnings per share (¢) Dividends per share (¢)

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HY2012 Divisional Overview

UGL Infrastructure

• Strong top line growth• Power generation and transmission opportunities supported by private

investment• Strengthened presence in communications sector with key win in Victoria• Bidding activity healthy in key sectors although water flat

UGLRail

• Consistent margin performance• Renewal of major maintenance contract with RailCorp a major win• Strong growth in freight locomotive demand supporting growth• Oscar 3 and MTM Melbourne train franchise performing well

UGLResources

• Strong recovery in financial performance• Substantial growth in asset management and maintenance projects• High levels of bidding activity with visible pipeline

UGLServices

• Solid operating performance impacted by adverse FX movement• US transaction volumes impacted by subdued macroeconomic conditions• Momentum in Asia and Australia & New Zealand businesses continue• DTZ integration progressing well with neutral impact on 1H12 earnings

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Our People

Employee numbers* Breakdown by division

UGL Infrastructure 2,821 5.1%UGL Rail 2,242 4.1%UGL Resources 4,402 8.0%UGL Services 45,345 82.3%Shared Services 252 0.5%Group 62 0.1%

*includes contractors

Total55,125

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Outlook

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New Contract Wins & Extensions

• Ichthys LNG power plant• Solomon Mine power station• Regional Rail Link rail systems in Victoria• Solomon Rail Spur communications system• Preferred on ANZAC Ship maintenance

UGL Infrastructure

• MainTrain renewal• Orders for over 30 locomotives for supply to

Rio Tinto and other leading resources companies

• Long term locomotive maintenance service and support agreements

UGL Rail

• Maintenance projects with Rio Tinto at Hail Creek, BHP Billiton at Olympic Dam, BMA at Gregory Crinum and CP Mining at Sino Steel plant

• Multiple asset services projects across coal, iron ore and oil and gas sectors

UGL Resources

• NAB, DFAT and Sydney Airport renewals• Key FM agreements with Asian and

Australian government agencies• Key FM agreements for Sun Life Stadium,

Tufts University and Schlumberger

UGL Services

$4.7b in New Wins and Extensions*

* Current figure

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Order Book

Historic growth ($m) Order book excludes significant value

Preferred tender status $1.2b• Property services• Rolling stock and maintenance• Power generation

Options in existing contracts $3.4b• Rail maintenance• Property services• Locomotive orders

Recurring maintenance $6.3b• Historic renewal rate 90-95%• Value over five years• Excludes fixed term contracts

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Order Book Breakdown

By year ($m) By divisionBy type

Alliance style projects $0.9b

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Pipeline

Weighted and Qualified ($m) Status

Note: Weighted & Qualified – excludes any opportunities with a go-get less than 25%

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Group Outlook

• Record order book provides sustainable earnings growth• Ongoing significant investment in people, systems and processes• Commitment to risk management and cost discipline continues• Strong financial position with low capital intensity

Stability and discipline unchanged

• Property integration and capitalising on unique platform• Realigning into 3 business units from 1 July 2012 to enhance market focus and delivery:

Engineering, Operations & Maintenance (incl. Defence), Property• Building world class competencies in project and programme management• Positioning to capture significant outsourcing opportunities as global outsourcing trend endures• Leveraging exposure to Asia and US recovery

Significant growth opportunities

• Continuing to forecast around 5% underlying NPAT growth in FY12• Order book is growing at record levels with further upside • Bidding pipeline is solid and visible

Growth targets for FY12 confirmed

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Important Notice

This presentation and any oral presentation accompanying it:

• is not an offer, invitation, inducement or recommendation to purchase or subscribe for any securities in UGL Limited (“UGL”) or to retain any securities currently held;

• is for information purposes only, is in summary form and does not purport to be complete;

• is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor, potential investor or any other person. Such persons should consider seeking independent financial advice depending on their specific investment objectives, financial situation or needs when deciding if an investment is appropriate or varying any investment;

• may contain forward looking statements. Any forward looking statements are not guarantees of future performance. Any forward looking statements have been prepared on the basis of a number of assumptions which may prove to be incorrect or involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of UGL, which may cause actual results, performance or achievements to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Any forward looking statement reflects views held only as of the date of this presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, UGL does not undertake any obligation to publicly update or revise any of the forward looking statements or any change in events, conditions or circumstances on which any such statement is based.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation and any oral presentation accompanying it. To the maximum extent permitted by law, UGL and its related bodies corporate, and their respective directors, officers, employees, agents and advisers, disclaim and exclude all liability (including, without limitation, any liability arising from fault or negligence) for any loss, damage, claim, demand, cost and expense of whatever nature arising in any way out of or in connection with this presentation and any oral presentation accompanying it, including any error or omission therefrom, or otherwise arising in connection with any reliance by any person on any part of this presentation and any oral presentation accompanying it.

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