2014YEAR IN REVIEW

. . .Bu i ld ing the wor ld beneath you. . .

2014YEAR IN REVIEWThe 2014 financial year can best be summarised as a year of international expansion, successful completion of major projects and the continued technological development of our Bothar built tunnelling machines. We have once again performed to the highest safety performance level with a two year continuous period recordable incident free, which is a great testament to our site work crews and your very high work ethic.

We have seen huge expansion in our international efforts throughout the year with 100 million Qatari Riyals in value of contract awards in Doha, the establishment of an operational base in Johannesburg South Africa and the submission of various proposals for large scale oil and gas pipeline crossings in Europe. This geographic diversity is one of our major strengths, allowing us to normalise and grow our revenues across the various national construction sector market cycles that are evident in each of our chosen markets given the downturn in the Australian market.

We were awarded a number of tunnelling projects in Doha and have established a dedicated office facility, recruited management and execution staff and considerably bolstered the size and range of our specialist tunnelling equipment fleet in order to execute these challenging projects. Whilst it is still early days for our entry into the South African market, the outlook is positive for our trenchless offerings and we expect to be executing local contracts in the near term.

Our project performance level was clearly demonstrated in the successful completion of all of the major crossings for the three Coal Seam gas export lines running from the Surat Basin to the Gladstone LNG facilities. All of these world-class projects were completed on time, on budget and without incident.

We have continued to enjoy the benefits of our long term investment into our technological research and development programme with the successful commissioning of our latest Bothar built Steerable Auger Systems (SAS) opening up a number of new exciting opportunities for us.

All of these achievements would not be possible without the continued dedication of our work crews, skilfully undertaking your activities in difficult situations and remote locations. Accordingly I would like to take this opportunity to personally thank each and every one of you for your continued efforts in this regard and ask that you keep up these very high safety and work standards that you have set.

Additionally I would like to extend my appreciation and thank our board and shareholders for your support throughout this challenging growth phase.

Noel KerrManaging Director

Bothar has launched into South Africa and has

established its operational base in Johannesburg.

Bothar exhibited at the No-Dig South Africa

Exhibition which was held in Pretoria in July 14.

In conjunction with its continuing expansion

of project operations in Qatar, Bothar have

now established a new dedicated major office

headquarters in Doha coupled with its equipment

workshop to provide for a larger and wider project

support service.

Bothar were awarded the contract to construct

approximately 5,500m of 3000mm ID major

Microtunnelling works associated with the

overall construction and development of the Al

Rayyan Road in Doha by the Boom Construction

Company for Ashgal, the Public Works Authority

of Qatar.

New Launch

Bothar in South Africa

New Office

Doha Headquarters

New Business

Boom Contract

Bothar were awarded five major contracts in

Doha this year with a total length of 28,000m

of various diameter tunnels in hand.

All projects, for a two year period,

have performed at a Total Recordable

Injury Frequency Rate (TRIFR) of zero,

reinforcing that Bothar is operating at a

consistent zero harm, incident free level.

The second Bothar built Steerable Auger System

(SAS) successfully completed its first project for

the Brisbane City Council. The SAS achieved

maximum productivity and accuracy, within this

congested inner city environment.

Major Contracts

28,000m of Microtunnelling

Zero Harm

Two Years Incident Free

Research and Development

SAS

Bothar successfully completed the construction of

all of the various crossings for the three main coal

seam gas (CSG) export lines for the Queensland

CSG to LNG Projects on time, within budget

and without incident. Project scope included pit

construction, auger boring, tunnel boring and HDD.

Bothar launched their new website in July

of this year, which delivers informative

and user-friendly design, content and

navigation for all users.

The Axis guided boring system was successfully

introduced into project operations, enhancing

the efficiency and accuracy of our pit-launched

trenchless installation methods. The system is

capable of maintaining the strict tolerance and

accuracy required for sewer and water projects.

Major Contracts

28,000m of Microtunnelling

Completed

CSG Export Lines

Launched

New Website

New Methods

Axis Systems

Two staff members have attained CERT III

qualifications this year in Trenchless Technology.

The staff members now have a nationally

recognised means of demonstrating their

competencies to interested parties.

With the recent acquisition of additional

Herrenkencht (HKN) AVN Tunneling Machines

and Ancillary Systems, Bothar now have one of

the largest fleets of HKN equipment available to

accommodate most tunnelling solutions.

Staff Collaboration

TAFE Certified Training

Acquired

Largest HKN Fleet

Bothar’s newly commissioned Steerable Auger System

(SAS) and Bothar built TBM successfully completed

a challenging project for the Brisbane City Council

Beasley Road Drainage upgrade. The SAS effectively

achieved the required positional accuracy through

contaminated ground and hard rock.

Urban Project

Bothar Built Solution

One Reliable Partner For All Trenchless Projects

...Building the world beneath you...www.botharboring.com.au

AUSTRALIA

114 Ingleston Road, Wakerley,

QLD, AUS 4154

Ph: +61 7 3907 0777Fax: +61 7 3907 0888

EMIRATES

Al Nasar BuildingM Floor, Defence Road

PO Box 32567, Abu Dhabi

Ph +971 50 444 6396

QATAR

P.O. Box: 7098, State of Qatar QA

Ph: +974 4487 8745

KUWAIT

Al Shaymaa TowerOmar Bin Al Khattab StMurgab Area – 3rd floor

Ph: +965 2225 1311Fax: +965 2225 1312

SOUTH AFRICA

18 Dusseldorf St, Johannesburg Benoni 1540

Ph: +27 (11) 748 1600Fax: +27 (11) 420 2499

NEW ZEALAND

Level 7, 3 Albert Street, Auckland 1010

Ph +64 (0) 9 281 6798