24 August 2010 ASX Limited Exchange Centre Level 4, 20 Bridge Street SYDNEY NSW 2000 Dear Sir / Madam FINANCIAL YEAR 2010 RESULTS PRESENTATION Please find attached a presentation being made to a number of investors this week by Steve Gostlow, Managing Director of Tox Free Solutions Limited. Yours faithfully TOX FREE SOLUTIONS LIMITED

DAVID MCARTHUR Company Secretary

For

per

sona

l use

onl

y

Steve Gostlow, Managing Director

Tox Free Solutions Ltd

Financial Year 2010 Results Presentation

24 August 2010

For

per

sona

l use

onl

y

Disclaimer

Summary informationThis presentation contains summary information of TOX Solutions Limited (“TOX”) and is dated 24 August 2010. The information in this presentation does not purport to be complete or comprehensive, and does not purport to summarise all information that an investor should consider when making an investment decision. It should be read in conjunction with TOX’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (“ASX”), which are available at www.asx.com.au.

Not investment adviceThis presentation is not a prospectus or a product disclosure statement under the Corporations Act 2001 (Cth) and has not been lodged with the Australian Securities and Investment Commission (“ASIC”). The offer of TOX shares ('New Shares') to which this presentation relates complies with the requirements of section 708A(5) of the Corporations Act and a “cleansing notice” complying with section 708A(5)(e) will be lodged with the ASX. The information provided in this presentation is not intended to be relied upon as advice to investors or potential investors and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs. Those individual objectives, circumstances and needs should be considered, with professional advice, when deciding if an investment is appropriate. Cooling-off rights do not apply to an investment in any New Shares.

Financial dataAll dollar values are in Australian dollars (A$) and financial data is presented withinthe financial year end of 30 June unless otherwise stated.

Risks of investmentAn investment in TOX shares is subject to investment and other known and unknown risks, some of which are beyond the control of TOX. TOX does not guarantee any particular rate of return or the performance of TOX nor does it guarantee the repayment of capital from TOX or any particular tax treatment. You should have regard to (among other things) the risks outlined in this presentation.

Forward looking statementsThis presentation contains certain forward-looking statements. The words 'anticipate', 'believe', 'expect', 'project', 'forecast', 'estimate', 'likely', 'intend', 'should', 'could', 'may', 'target', 'plan' and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of TOX, that may cause actual results 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. You should not place undue reliance on forward-looking statements and neither TOX nor any of its directors, employees, servants, advisers or agents assume any obligation to update such information.

Not for distribution or release in the United StatesThis presentation has been prepared for publication in Australia and may not be distributed or released in the United States. This presentation does not constitute an offer of shares for sale in the United States or in any other jurisdiction in which such an offer would be illegal. The New Shares have not been, and will not be, registered under the US Securities Act of 1933 and, accordingly, may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of such Act and applicable US state securities laws.

Other jurisdictionsThe New Shares and entitlements may not be offered or sold in any other jurisdiction under the Offer, except to persons to whom such offer, sale or distribution is permitted under applicable law.

For

per

sona

l use

onl

y

Agenda

Contents

1 Capital Structure

2 FY10 Operational Highlights

3 FY10 Results

4 Operational Update

5 Growth Outlook

6 Competitive Advantage

For

per

sona

l use

onl

y

Capital Structure

• Company profile

• Operational Highlights

• Operational Overview

• Growth Outlook

ASX CODE – TOXShares on issue 91,765,500Unlisted employee options

4,193,500

No. of shareholders

2,600 (approx)

MarketCapitalisation

$200m (approx)

Substantial shareholders

Fisher Funds Management Ltd 7.1%

Australian Foundation Investment Co 6.8%Board & Management 7.0%

For

per

sona

l use

onl

y

Company Profile

• One of the largest integrated industrial service and waste management businesses in Australia

• Expertise in industrial services, total waste management and resource recovery

• Strategically located facilities throughout Australia

• Unique licenses and specialist technologies

• Innovative and sustainable industrial and waste management practices

• Multiple services offered in all market sectors

• Competitive advantage

“Commitment to safe and reliable services to our clients”

For

per

sona

l use

onl

y

Company Profile

“History of delivering results”

• 420 employees

• National footprint

2 513 14

23 23

20 4590

97

390 420

050100150200250300350400450

0

5

10

15

20

25

FY05 FY06 FY07 FY08 FY09 FY10

EmployeeFacilities

2.3 4.98.95

13

2225

6.60 11.9020.10 30.00

88.00

99.00

0.00

20.00

40.00

60.00

80.00

100.00

120.00

0

5

10

15

20

25

30

FY05 FY06 FY07 FY08 FY09 FY10

Revenue ($m)

EBITDA ($m)

For

per

sona

l use

onl

y

Site Locations

KarrathaPort Hedland

Broome

DerbyFitzroy Crossing

Wyndham & Kununurra

Carnarvon

HendersonKwinana Kalgoorlie

Rockhampton

GosfordSydneyAlbury/ Wodonga

Mt WaverleyMulgrave

Williamstown

Industrial ServicesWaste Management

Brisbane

Gold Coast

Campbellfield

Dalby

For

per

sona

l use

onl

y

FY10 – Key Highlights

• Award of over $100 million of revenue in long term contracts with blue chip clients over the next 5 years, including

• Toll Energy (Gorgon LNG) Total Waste Management Contract for Barrow Island - $30 million revenue over 3 years

• Rio Tinto Iron Ore Total Waste Management and Industrial Services contract - 3 year with two year option. Revenue of approx $8 million pa

• Murrin Murrin Nickel Refinery Industrial Services Contract. 5 Year contract. Revenue of approx. $6 million pa

• Boral Cement Contract in NSW and Vic – 2 + 1 year contract. Revenue approx $2 million pa

• Maiden Dividend of 2 cents per share

• Acquisition of Envirochem Technologies in Melbourne for $3.1 million

• $25 million capital raising – to fund growth profile and potential acquisitions

“Contracted revenue increased to 36% of total sales”

For

per

sona

l use

onl

y

FY10 Key Highlights (cont)

• Significant investment in human capital and systems over the last 12 – 18 months. Required to implement 2nd stage of corporate strategy

• Investment provides a solid foundation to implement strategy, sustainably grow and manage risk appropriately

• $100 million of contracted revenue is evidence the strategy is working

• Focus remains on ROIC above 18% for all capital in the group

• Revenue and earnings from contracts to contribute over the next 5 years. – “Tox will win more contracts - the strategy continues”

• “Taken the hit in FY10” – one off capital and mobilisation costs attributed to commencement of contracts expensed upfront in FY10.

• Positive Net Cash Flow in FY11 – Company can internally fund its growth strategy

• Capital raising to set up company for the future - Underlying EPS growth of 15.9%

“Company can funds its growth internally”

For

per

sona

l use

onl

y

FY10 Full Year Results Summary

• Revenue $98.6 million up 11.8% (FY09: $88.2 million)

• EBITDA $25 million^ up 11.5% (FY09: $22.4^)

• NPAT $9.2 million^ up 24.3% (FY09: $7.4 million^)

• EPS 10.77 cps^ up 15.9% (FY09: 9.29 cps^)

• Zero Lost Time Injuries during period

• Gross operating cash flow of $24 million, representing 96.2% of EBITDA

• Underlying EBITDA of ~$26 million^, through add back of redundancy expenses, acquisition costs and mobilisation costs

• Interest Cover – 5.5 times (EBIT) and 8.6 times (EBITDA)^Excludes share based payments of $1,306K (2009: $407K)

“Double digit growth continues – NPAT up 24.3%”

For

per

sona

l use

onl

y

FY10 Results

Group Results FY10 ($’000) FY09 ($’000) % Change

Revenue 98,686 88,198 11.8%

EBITDA^ 25,024 22,432 11.5%

Depreciation (8,972) (7,577) 18.4%

EBIT^ 16,051 14,467 10.9%

Net Interest (2,261) (3,753) -39.7%

Profit before tax^ 13,133 10,714 22.5%

Income tax expense (3,863) (3,261) 18.4%

Net profit after tax^ 9,270 7,454 24.3%

EPS^ 10.77 cents 9.29 cents 15.9%Weighted average shares on issue 86 M 76M 13.1%

“Underlying EBITDA performing strongly”

^ Before share based payments

For

per

sona

l use

onl

y

Group Cash Flow

Group Cash Flow FY10 ($’000)

FY09 ($’000)

% Change

Gross operating cash flow 24,076 18,545 29.8%

Net interest paid (2,261) (3,627) -37.6%

Income taxes paid (4,196) (5,098) -17.6%

Net operating cash flows 17,618 9,819 79.4%

Net purchases of PP&E (20,973) (9,733) 115.4%

Net payments for businesses acquired (2,790) (10,430) -73.2%

Net investing cash flows (23,763) (20,163) 17.8%

Net proceeds from borrowings/(repayment of borrowings) (6,393) 701 190.1%

Proceeds from the issue of share capital (net of capital raisingcosts)

25,855 12,616 104.9%

Net financing cash flows 19,462 13,317 46.1%

Net increase/(decrease) in cash 13,317 2,973 347.9%

Cash at the beginning of the half year 4,576 1,603 185.4%

Cash at the end of the half year 17,894 4,576 291.0%

For

per

sona

l use

onl

y

Balance Sheet

Balance Sheet 30 June 2010

($’000)

30 June2009

($’000)

% Change

Cash 17,893 4,576 291.0%

Trade and other receivables 25,215 22,083 14.1%

Inventories 434 142 206.3%

Prepayments 329 1,017 -67.6%

Tax assets 1,791 1,791 -

Property, plant and equipment 58,628 46,655 25.6%

Goodwill 27,490 25,024 9.8%

Total assets 131,782 101,288 30.1%

Trade and other payables 9,851 7,722 27.5%

Loans and borrowings 31,072 37,464 -17.0%

Employee benefits 2,055 1,819 13.0%

Tax liabilities 204 942 -72.4%

Total liabilities 43,236 48,002 -9.9%

Total equity 88,546 53,288 66.1%

NET DEBT 13,177 32,888 -59.9%

NET DEBT TO EQUITY 15% 61%

“Balance sheet strength – net debt to equity of 15%”

For

per

sona

l use

onl

y

FY10 Segment Results

Comments

Solid waste growth – strong organic growth from Kimberley and total waste management contracts

Industrial service EBIT includes one off mobilisation costs of over $500 K. Normalised margin of 14 % EBIT (increase of 1.1% pcp)

Corporate expense includes one off acquisitions costs and redundancy expenses of $600K

Liquid waste volumes decreased during period attributed to slow down in the manufacturing sector

Hazardous waste revenue increased by 24.5% on 45% EBIT Margin (Margin improvement of 3.2% pcp)

Revenue FY2010

$’000

RevenueFY2009

$’000Variance %

EBITFY2010

$’000

EBITFY2009

$’000Variance %

Industrial services 52,740 54,512 -3.2% 6,883 6,853 0.4%

Solid waste 21,091 8,911 136.6% 6,136 2,716 125.9%

Hazardous waste 14,308 10,662 34.1% 6,430 4,463 44.0%

Liquid waste 10,546 14,113 -25.2% 3,800 5,293 -28.2%

Corporate - - - (7,198) (4,858) 48.1%

Total Group 98,686 88,198 11.8% 16,051 14,467 10.9%

For

per

sona

l use

onl

y

Segment EBIT Margin Analysis

H1 2009%

H2 2009%

Full year 2009%

H1 2010%

H2 2010%

Full year 2010%

Industrial services 13% 12% 13% 14% 12% 13%

Solid waste 20% 41% 30% 33% 27% 29%

Hazardous waste 36% 48% 42% 46% 44% 45%

Liquid waste 35% 40% 38% 37% 35% 36%

Comments

H2 2010 Industrial Service margin impacted by $500 K contract mobilisation expenses – H2 2010 normalised margin of 14%

H1 2009 Solid Waste Impacted through initial expenses relating to start up of Karratha site (all costs expensed no revenue)

H2 2010 Solid Waste margin impacted through contract mobilisation costs expensed and new long term contract contribution

Hazardous waste margin fluctuations attributed to waste types treated - average of 45% margin to be expected moving forward

H2 2010 Liquid Waste Margins impacted by no Emergency Response and no Cyclones

For

per

sona

l use

onl

y

Operations – Industrial Services

• Transition to target client base continues – evidenced through award of Boral Cement, Rio Tinto and Murrin Murrin Contracts

• Rio Tinto, Murrin Murrin and Boral Cement mobilisation costs expensed during period ($500k).

• Normalised margin of 14% in FY10 (add back of $500K) - further improvement in margin expected in FY11 with contract commencement

• Rio Tinto contract performing well following initial delay in equipment to site

• Murrin Murrin mobilisation very smooth. Profitable from day one.

• Boral Cement Contract – significant step towards long term contracted revenue to target industry on east coast of Australia

• Expansion of Industrial Services throughout Australia to continue

• Heavy focus on Industrial Service business development

“Margin improved 1.1% pcp”

For

per

sona

l use

onl

y

Operations – Solid Waste

• Revenue growth of 136.6% to $21.0 million

• EBIT Margin reduced 1% representing addition of contracts - Margins are expected to stabilise at these levels

• Kimberley solid waste services performed above budget expectations

• Award of $15 M in municipal contracts to councils throughout the Kimberley region over the next 4 to 8 years

• Woodside and Toll Energy (Gorgon) contracts - significant contributors.

• Growth expected to continue through Toll Energy (Gorgon) and Rio Tinto Contracts

• Woodside Pluto Waste Management Services expected to commence in 3QTR FY11

• Strategically positioned for longer term development of LNG production facilities in the North West region

“Dominant Waste Manager in the North West of WA”

For

per

sona

l use

onl

y

Operations – Hazardous Waste

• Hazardous waste volumes remain strong on 45% EBIT margin (up 3.2% pcp)

• Kwinana and Brisbane facilities were stand out performers

• Acquisition of Envirochem Technologies – complements existing industrial service division and east coast hazardous waste facilities

• Envirochem Technologies performing above expectations with synergies being achieved within the first QTR

• Tox Free has a national network of hazardous waste management facilities Australia wide

• Experienced Hazardous Waste Manager employed at St Marys –Commenced June 2010, improved performance expected to continue

• Local government approval obtained for Brisbane waste facility upgrade –final EPA approvals expected within next couple of months

• Growth in Emergency Response retainers continues although incidents were minimal

“National network of Hazardous Waste Facilities ”

For

per

sona

l use

onl

y

Operations – Liquid Waste

• Volumes of liquid waste declined in period

• Margins remain strong at 36%

• Volume drop attributed to slow down in manufacturing sector – expected to improve as the Australian economy and manufacturing sector gains momentum

• Business case for Sodic Soil Amendment Agent technology being prepared for implementation nationally

• Growth expected from improved manufacturing sector and further award of industrial service and waste management contracts

“Manufacturing sector expected to gain momentum ”

For

per

sona

l use

onl

y

Growth Outlook

Earnings growth to continue in FY11 and beyond through;

• Commencement of Rio Tinto, Murrin Murrin and Boral Cement Contracts

• Continued development of Gorgon LNG facility

• Award of further contracts – tendered and pending

• Acquisitions – acquiring other businesses that meet our Corporate Strategy

• Organic growth of existing divisions

• Upgrade of the NSW and Qld waste treatment facilities

• Further improvement in operational efficiencies and ROIC within our business nationally

“Focus on corporate strategy and core business”

For

per

sona

l use

onl

y

Our Competitive Advantage

• Unique licenses

• National footprint

• Intellectual property – waste treatment, industrial services, safety standards and equipment specifications tailored to our clients needs

• Able to offer a “One Stop Shop” to industry – integrated industrial services and / or waste management

• Controlling the back end – “waste manager” not just “a collector”

• Technical know how

• Blue chip referees and proven service performance

• Solution provider industry can rely on

• New benchmarks in regard to safety, environmental and operational performance of our mobile vehicle fleet

“A One Stop Shop to Industry”

For

per

sona

l use

onl

y

Questions?

Steve GostlowManaging Director

Email: s.gostlow@toxfree.com.auTel: +61 8 6216 7000Mob: +61 (0) 419 197 155

Jason DixonExecutive General Manager – Corporate

Email: j.dixon@toxfree.com.auTel: +61 3 9541 4700Mob: + 61 (0) 419 310 792

“Motivated to be the best”

For

per

sona

l use

onl

y