H lf Y R lt 20111

Half Year Result 2011John Grill

Overview

Improved conditions in second quarter

Improved conditions in a number of key markets

● Upstream hydrocarbons strongp y g

● Canadian oil sands improving

Continued success in long term gcontracts and global relationships

Ongoing demand for EcoNomics services as projects restartservices as projects restart

Numerous “Pit to Port” feasibility studies secured

Developing world providing most project opportunities

Exxon Mobil Arkutun-Dagi, Russia

Challenges

Challenging conditions in some k tmarkets

• US power sector

US d t h d b• US downstream hydrocarbons sector

Continued negative impact ofContinued negative impact of Australian dollar

Queensland, Middle East and North Africa operations interrupted

TVA Hydro power, USA

Financial Overview

Aggregate revenue $2,916.4m up 14.5%

Net profit after tax $128.6m down 6.8%

Operating cash flow $124.7m down 15.5%p g $

Earnings per share 52.4 c/s down 7.7%

Dividend 36 0 c/s fully frankedDividend 36.0 c/s fully franked

Negative FX translation impact of $14.1m

Strong financial capacity

People

32,900 personnel 41 countries

Safety Performance

CATEGORY FY10 1H11

Total Recordable Case (TRC) Frequency Rate* 0.15 0.09

Lost Workday Case (LWC) Frequency Rate* 0.02 0.02* WorleyParsons applies the US OSHA reporting requirements

MAJOR SAFETY ACHIEVEMENTS IN THE PERIOD75 illi h LWC f S di P l NCP j t S di A bi● 75 million hours LWC free on Saudi Polymer NCP project, Saudi Arabia

● 20 million hours LWC free on Singapore Parallel Train, Singapore● 4 million hours LWC free – Tengizchevroil TCO Projects, Kazakhstan● 3 million hours LWC free – ExxonMobil MIPS contract, Nigeria● Six years LWC free at OneSteel, Australia● Crisis response programs - Queensland, Egypt, Bahrain, Libya, ChristchurchCrisis response programs Queensland, Egypt, Bahrain, Libya, Christchurch

Material Award – BP Iraq

Customer(s): BP Iraq, Petrochina(CNPC), Iraq State Oil Marketing(CNPC), Iraq State Oil Marketing Organisation (SOMO)

Scope of Services: Conceptual D i FEED d i t b tDesign, FEED and services to boost production from the super-giant Rumaila Oil Field, Iraq

World’s second largest producing oil field, contributing approximately 10% of Middle East production, 7% of OPEC production and 3% of global production

Support from London & UAE for IraqSupport from London & UAE for Iraq team

Initial revenue > USD100m

Material Award – QGC

Customer: QGC

Project: Queensland Curtis Island LNG facility

S D t il d i i dScope: Detailed engineering and procurement services for the upstream gas field and related infrastructure

Potential Revenue: > $580m

Execution Centre: Brisbane

Material Award – ExxonMobil Hebron

Customer: ExxonMobil Canada

Scope of Services: FEED with option for engineering, procurement and construction services (ExxonMobil’s discretion)

Execution centres – Houston, USA and St John’s in Canadaand St John s in Canada

Estimated revenue for full FEED/EPC services US$285m over 5 years

Reinforcement of our premier position in upstream offshore and arctic marketsmarkets

Additional Material Awards

BP – Global AgreementOnshore Facilities Developments• Onshore Facilities Developments

• Engineering & Project Management Services

ExxonMobil Sakhalin 1 Artukun Dagi Platform –Russia• Increased Scope

$• Est. Rev. – US$500m

MEG Energy – Canada C S G C $• Christina Lake SAGD Facility - Est. Rev.-CAD$20-25m

• Master Services Agreement

Husky Oil – Canada• Sunrise Energy Project – Est. Rev.- CAD$250m• Engineering Procurement Fabrication Construction

Additional Material Awards

Gazprom - Russia• Shtockman Phases 2 & 3• Front End Engineering Services (FEED)

ConocoPhillips – North SeaConocoPhillips North Sea • Jasmine Area Development• Detailed Design and Procurement Services

E M bil C dExxonMobil – Canada• Hebron Project - Est. Rev. - A$285m• Front End Engineering With Subsequent EPC Option

Mobil Producing Nigeria – Nigeria • Satellites Phase 2 Contract Extension• Offshore Facilities Upgrade

Hancock Coal - Australia• Alpha Coal Project – Est. Rev A$285m

P M t S i (JV ith A )• Program Management Services (JV with Ausenco)

Significant Improve Awards & Renewals

SHELLNational Services Agreement

MEG ENERGYMaster Services AgreementSUNCORSupplier of Choice Agreement

SASOL

Multi Regional Agreements

IMPERIAL OILEngineering - Nanticoke

SHELL USAPipeline & terminals services

KPOEngineering Services

SASOLIntegrated Procurement Services

Anglo AmericanRio TintoDupont

PETRONAS

BP CHEMICALSEngineering Services

SARAWAK SHELLMaster Engineering Services

UCLAOperations & Maintenance

Engineering Services

TALISMAN ENERGYOffshore Engineering

USCFParnassus Central Utilities O&M

DUKE ENERGY

PACIFIC NATIONAL

TOTAL BRUNEIEngineering ServicesTOTAL NIGERIA

E i i S i

DUKE ENERGYMaster Service Consulting

PACIFIC NATIONALEngineering & Procurement

Engineering ServicesORYX

Technical Services ANGLO COAL AUSTRALIASix Coal mines

229 Improve contracts – 16 new contracts, 6 renewals

Kv3 Overview

Kwezi V3 Engineers - Leading multi-disciplinary infrastructure engineeringdisciplinary infrastructure engineering consultancy based in South Africa

Investment – A$45.4m

Majority of clients are government bodies, including local and provincial governments and state-ownedgovernments and state owned enterprises

Kv3 – 845 personnel

Total across Africa - 1900 personnel

Fi i l lt14

Financial resultsDavid Housego

Financial Profile

$m HY10 HY11 vs. HY10 vs. 2H10

Aggregated Revenue 2,548.1 2,916.4 14.5% 20.6%

EBIT 209.8 202.5 (3.5%) (6.9%)

EBIT i 8 2% 6 9% (1 3%) (2 1%)EBIT margin 8.2% 6.9% (1.3%) (2.1%)

Net profit 138.0 128.6 (6.8%) (16.0%)

Net profit margin 5 4% 4 4% (1 0%) (1 9%)Net profit margin 5.4% 4.4% (1.0%) (1.9%)

Normalized EPS (cps) 1 62.8 56.6 (9.9%) (13.1%)

Cash flow from operating activities 147.5 124.7 (15.5%) (5.6%)g ( ) ( )

USD:AUD rate 0.869 0.943 (8.5%) (5.6%)

1 Before amortization of intangibles including tax effect of amortization expense

HY11 - refers to the six months ended 31 Dec 2010HY10 - refers to the six months ended 31 Dec 20092H10 - refers to the six months ended 30 Jun 2010

Financial ProfileEBIT Margin %

6,219.4

4 967 1

Revenue1 $m

8 1 9.1

10.7 9.7

8.6 3 256 1 2,916.4

3,525.4

4,882.4 4,967.1

8.1

6.9

1,455.8

2,354.1

3,256.1 2,548.1

St th

2006 2007 2008 2009 2010 2011

343 9

390.5 Net profit $m

2007 2008 2009 2010 2011

Strong revenue growthMargin impacted by United States operations and FX ($14.1m)224.8

343.9

291.1

Effective tax rate down 0.8% to 24.4% due to change in earnings mix

61.894.5

152.7197.5

138.0 128.6

139.1

2006 2007 2008 2009 2010 2011

1 Aggregated revenue

Change In Net Profit HY11 vs. HY10

10 5 (8.4)

1 4 0.51.0

10.5

(1.7)4.4

(3.0)(14.1)

1.4

m

138.0 128 6

$m

128.6

HY10 Hydrocarbons Power Minerals & Metals

Infrastructure &

Environment

Corporate overhead

Net borrowing costs

Income Tax Minority Interest

FX Impact HY11

Hydrocarbons

3,604.8

4,740.1

3 425 4

Revenue 1 $m

AME 21%USLAC

18%

HY11 Revenue1 % by Region

1,760.3 2,373.7

1,869.1 1,768.9

2,579.1

, 3,425.4

1,950.3

AME 21%18%

817.3 1,026.0

2006 2007 2008 2009 2010 2011

ANZ 17%E&A 18%

Canada growth in half

Revenue % of Group 71.9% 73.2% 73.8% 76.2% 69.0% 66.9%EBIT Margin 8.9% 9.3% 10.8% 11.2% 11.0% 9.5%

EBIT by Region HY11 vs 2H10 2 $m

Canada 26%

Canada growth in halfEurope and Africa; solid growth off low base in 2010. Project restarts and early work assisting

194.4

181.2 (1.4) (2.2) 4.4

15.7 (2.1)(9.4)

186.2

restarts and early work assistingUnited States operations downstream impact

1 Aggregated revenue

2 Regions in constant currency

HY10 2H10 AME ANZ Canada E&A USLAC FX Impact

HY11

Power

546.3 509.4

Revenue 1 $m

AME 9%

HY11 Revenue1 % by Region

217 7

289.3 303.3 367.8

437.4 465.9

247.3ANZ 21%USLAC 45%

173.2 188.1 217.7

Canada 7%

Revenue % of Group 15.0% 12.4% 9.5% 8.8% 10.3% 10.4%EBIT Margin 13.0% 13.2% 13.0% 12.2% 7.7% 5.7%

2006 2007 2008 2009 2010 2011

E&A 18%

EBIT by Region HY11 vs 2H10 2 $m

4 out of 5 markets upUnited States operations continue to be challenging

18.820.5 1.5

2.0 0.42.1 (7.4)

(1.8)17.3

continue to be challenging

1 Aggregated revenue

2 Regions in constant currency

HY10 2H10 AME ANZ Canada E&A USLAC FX Impact HY11

Minerals & Metals

583.0 562.5

Revenue 1 $mUSLAC

11%

HY11 Revenue1 % by Region

371.8 318.1

200.8

291.4

469.3

239.8

AME 26%Canada

10%

E&A 3%

112.9 129.3

214.1 200.8

2006 2007 2008 2009 2010 2011

Revenue % of Group 8.2% 8.3% 9.6% 9.4% 11.3% 10.9%EBIT Margin 13.8% 14.7% 17.0% 14.2% 13.7% 8.7%

2006 2007 2008 2009 2010 2011

EBIT by Region HY11 vs 2H10 2 $m

ANZ 50%

Number of major projects winding down2nd half 2010 included project27.7

49.3 (12.2)

(11.3)4.4 (0.4) (1.1) (0.9) 2 half 2010 included project

incentivesHigh degree of workshareF ibilit bi t

27.7 ( ) ( ) (0.9)27.8

Feasibility bias on current workload1 Aggregated revenue

2 Regions in constant currency

HY10 2H10 AME ANZ Canada E&A USLAC FX Impact HY11

Infrastructure & Environment

344.7 342.4 350.0

469.8Revenue 1 $m

AME 16%USLAC 9%

HY11 Revenue1 % by Region

221.3 191.9

121 6

214.9

AME 16%

Canada

E&A 10%

31.5 112.4

162.0 121.6

2006 2007 2008 2009 2010 2011ANZ 49%

Canada 16%

Revenue % of Group 4.9% 6.1% 7.0% 5.6% 9.5% 11.8%EBIT Margin 8.0% 9.5% 12.1% 8.6% 10.2% 8.4%

2006 2007 2008 2009 2010 2011

1 5

EBIT by Region HY11 vs 2H10 2 $m

ANZ largest market, Evans & Peck; good startO ll t iti ith

19.0

28.70.4 2.3 1.5 (3.2)

(0.2) (0.6) 28.9

Overall segment positive with a small growth over 2H10

HY10 2H10 AME ANZ Canada E&A USLAC FX HY11

1 Aggregated revenue

2 Regions in constant currency

HY10 2H10 AME ANZ Canada E&A USLAC FX Impact

HY11

Cash Flow

$m HY08 HY09 HY10 HY11EBITDA 263.1 354.5 252.2 249.2

Interest and tax paid (75.0) (102.9) (132.3) (56.0)

Working capital / other (76.5) (17.1) 27.6 (68.5)Working capital / other (76.5) (17.1) 27.6 (68.5)

Net cash inflow from operating activities 111.6 234.5 147.5 124.7

Net cash outflow from investing activities (104 0) (82 4) (51 0) (23 6)g (104.0) (82.4) (51.0) (23.6)Net cash (outflow)/inflow from financing activities 10.2 (110.5) (111.1) (48.2)

Key metrics:

DSO (days) 99.4 87.0 75.3 72.9

Cash from operations / net profit (%) 73.1% 118.7% 106.9% 97.0%

$20.8m paid for increased share of China J.V (80%) and South African J.V.PP&E spend $15.0m in HY11, $28.4m in HY10Dividend declared: 36 c/s fully frankedde d dec a ed 36 c/s u y a ed

Liquidity & Gearing

Key Metrics Jun-09 Jun-10 Dec-10

G i ti 25 5% 25 8% 23 8%

Liquidity Summary $m Jun-09 Jun-10 Dec-10

L & OD f iliti 1 376 1 1 286 1 1 129 2Gearing ratio 25.5% 25.8% 23.8%

Facility utilization 54.2% 60.8% 62.5%

Average cost of debt 5.5% 5.2% 5.0%

Loan & OD facilities 1,376.1 1,286.1 1,129.2

Less: facilities utilized (745.2) (781.5) (705.5)

Available facilities 630.9 504.6 423.7

Average maturity (years) 4.1 3.8 3.5

Interest cover 14.1x 13.3x 12.1x

Plus: cash 178.3 140.5 170.0

Total liquidity 809.2 645.1 593.7

Net Debt/EBITDA * 0.8x 1.2x 1.0x

Bonding facility utilization 52.9% 50.1% 56.0% Bonding facilities 452.5 669.1 633.5

Refinanced Syndicated Facility tranche of US$60m to Feb 2012 Loan and overdraft facilities of $105.5m maturing in calendar year 2011 ($54.3m overdraft)overdraft)Gearing of 23.8%; retain significant financial capacityUnsecured notes payable offered in United States private debt market. USD207m

t i i fi t t ith fi d l Fi i l l dmaturing in five to ten years with a fixed annual coupon. Financial close and funding expected March 2011

S t P f24

Sector Performance & Outlook - John Grill

Hydrocarbons

Strong performance in unconventional gasunconventional gas

Maintaining premier position in upstream offshore market

Continued recovery in oil sands

Onshore oil market strong through Middle East

Leadership in deepwater and subsea marketssubsea markets

Increasing LNG presence in global market

Kashagan Full Field Development, KazakhstanKazakhstan

Hydrocarbons Major Projects SHELL KashaganFull Field Development

SHELLAlliance Contract

SHELL

SAMREF Clean Fuels

EXXONMOBILArkutun-Dagi Platform

Albian Sands Expansion 1

TOTALJoslyn North Mine

EXXONMOBILSingapore Parallel Train

WOODSIDEPluto EPCM

KEY PROJECTKEY PROJECT

Hydrocarbons Projects & Key Awards

SHELL Kashagan Full Field Development

SHELLAlliance Contract

SHELL

SAMREF Clean Fuels

EXXONMOBILArtukun Dagi Platform

HUSKY ENERGYSunrise Energy

CONOCO PHILLIPSJasmine OffshoreAlbian Sands Expansion 1

TOTALJoslyn North Mine

Jasmine OffshoreEXXONMOBILHebron Development

BPRumaila FEED

GAZPROMShtockman Phases 2&3

EXXONMOBILSingapore Parallel Train

CHEVRONGendalo Gehem Subsea

BP Global Onshore Developments

CHEVRONWaffra Enhanced Oil Recovery

WOODSIDEPluto EPCM QGC

Queensland LNG Upstream

MOBIL PRODUCING NIGERIASatellites project

EXXONMOBILPort Stanvac Demolition

KEY PROJECTNEW PROJECTKEY PROJECT

HydrocarbonsOUTLOOK

● Unconventional gas sector● Unconventional gas sector opportunities are being realized in Australia, Oman and Canada

● Ongoing improvement in the Canadian oil sands market

● Strength in the upstream market has● Strength in the upstream market has resulted in a number of significant awards in Canada, Southeast Asia, Middle East and the CaspianMiddle East and the Caspian

● US downstream operations to remain challenging for some time

● We expect improved earnings in the Hydrocarbons sector in the second half of 2011

ExxonMobil Longford Facility, Australia

Power

Strong presence in nuclear market• Feasibility studies and program

management in the developing world

• Operations and maintenance support in developed worlddeveloped world

Air quality control market continues to show positive signs

Networks market showing strong growth in a number of regions

Presence in the operations and maintenance market expanding

Power Operations and Maintenance, USA

Power - Projects

QATAR PETROLEUMHalul Power Supply

NUCLEAR POWER PROGRAMEgypt

TENNESSEE VALLEY AUTHORITYPlant Support contract

NUCLEAR POWER PROGRAMArmenia

Halul Power Supplygyp

NUCLEAR POWER PROGRAMJordan

NEKBelene Nuclear Power

LOY YANG POWER

VERVE ENERGYPower Services

LOY YANG POWERMine and Power Station Maintenance

KEY PROJECTKEY PROJECT

Power - Projects & Key Awards

QATAR PETROLEUMHalul Power Supply

NUCLEAR POWER PROGRAMEgyptBRUCE POWER

TENNESSEE VALLEY AUTHORITYPlant Support contract

NUCLEAR POWER PROGRAMArmenia

Halul Power Supplygyp

NUCLEAR POWER PROGRAMJordan

TENNESSEE VALLEY AUTHORITYFossil and Hydro Services

INTER RAO UESNuclear Bankable feasibility study

NEKBelene Nuclear Power

New water demineralising plant

ENMAXEngineering Services

TUAS POWERTenbusu Cogeneration

SINGAPORE POWEREast West Cable Tunnel

SP POWERGRDGas Transmission Pipelines

VERVE ENERGYUNIVERSITY OF CALIFORNIA LA

LOY YANG POWERMine and Power Station Maintenance

Power ServicesUNIVERSITY OF CALIFORNIA LAParnassus Central Utilities

PETROBRASNew Diesel Hydrotreating Plant

ALUPAR INVESTIMENTOFerreira Gomes Hydropower plant

KEY PROJECTNEW PROJECTKEY PROJECT

Power Outlook

OUTLOOK

Contin ed foc s on s pport for● Continued focus on support for projects across the developing world

● Attractive market for nuclear services across almost all geographies

● Improve services in developed world markets remains a prioritymarkets remains a priority

● Focus on air quality projects should see an improved operational performance in the United States

● We expect improved earnings in the Power sector in the second half of

Bruce Power, Ontario Canada

Power sector in the second half of 2011

,

Minerals & Metals

Expanding presence with Tier 1 customers worldwide

Significant number of studies underway as the new phase of industry investment commencesindustry investment commences

“Pit to Port” solutions being well received by the market for stranded iron ore and coal

Revival of iron ore and base metals marketsmarkets

Ma'aden Beneficiation Plant, Saudi Arabia

Minerals & Metals Projects

US STEELContinuous Annealing Line

MA’ADEN PHOSPHATE Phosphate development

MA’ADEN ALUMINAAlumina developmentAlumina development

ALMATISPhase III project

FORTESCUE METALS GROUP

SASOLShondoni project

2nd Port Outloader Circuit

VALES11D Iron Ore

KEY PROJECT

GINDALBIE METALS Karrara iron ore project

Shondoni project

KEY PROJECT

Minerals & Metals Projects & Studies

US STEELContinuous Annealing Line

MA’ADEN PHOSPHATE Phosphate development

MA’ADEN ALUMINAAlumina development

KCM BULGARIALead Smelter projectAlumina development Lead Smelter project

ALMATISPhase III project

EVONIKQDCC Carbon Black plant

ORICAPrill PlantFORTESCUE METALS GROUP

SASOLShondoni project

2nd Port Outloader Circuit WICETCoal TerminalHANCOCK COALAlpha Coal

VALES11D Iron Ore

Shondoni project

GINDALBIE METALS Karrara iron ore project

KEY PROJECT

NEW STUDY

ANGLO AMERICANChagres Smelter BHPB URANIUM

Process Plant studyALCOA REFINERY

Residue projects KEY PROJECTResidue projectsCSPB

AN Plant expansion NEW PROJECT

Minerals & Metals OutlookOUTLOOK● China and India remain the pre-eminent

demand drivers● Conditions in the sector have improved with

strong evidence of additional capital spending by customers

● Trend towards regional and global service agreements with major tier 1 customers is g jexpected to continue

● Strong focus on developing-world projects, particularly in Latin America and Africaparticularly in Latin America and Africa

● The opportunities for ‘pit to port’ projects are particularly strongW t i d i i th Mi l● We expect improved earnings in the Mineral & Metals sector in the second half of 2011

EMAL, Abu Dhabi

Infrastructure & Environment

Good performance by Evans & Peck• Enhancing I&E capability in front end and

feasibility evaluation stage of major resource projects

E N i bilit i ti thEcoNomics capability assisting the award of new projects across the world“Pit t P t” t di idi“Pit to Port” studies providing optimal positioning for the business Remediation services in Canada and Australia showing growth

FMG Pilbara Iron Ore, Australia

Infrastructure & Environment Projects

IVANHOEOyu Tolgoi Copper Mine Infrastructure

AGIPErskine West Rail Project

MA’ADENInfrastructure

ORIGIN ENERGYEnvironmental Impact Services

ELECTRONORTEBelo Monte Environmental Services

KEY PROJECT

HANCOCK COALBankable Feasibility Study

OAKAJEE PORT AND RAILProgram Management

KEY PROJECT

Infrastructure & Environment Projects & Awards

IVANHOEOyu Tolgoi Copper Mine Infrastructure

AGIPErskine West Rail ProjectGASCO

Sulphur Handling Station

PNG ENERGYMA’ADEN

Infrastructure

ORIGIN ENERGYEnvironmental Impact Services

KUWAIT OIL COMPANYKOC Hospital

PNG ENERGYEnvironmental Services

EXXONMOBILWest Qurna 2 Environmental

ASHGHALWaste Water Treatment Plants

FMGPort Hedland 155mt Feasibility Study

WOODSIDEBrowse Geotechnical

OAKAJEE PORT AND RAILProgram Management

ELECTRONORTEBelo Monte Environmental Services

FMGAnketell Port Feasibility Study KEY PROJECT

HANCOCK COALBankable Feasibility Study

NEW STUDYAnketell Port Feasibility Study KEY PROJECT

NEW PROJECT

Infrastructure & EnvironmentOUTLOOK

● Continued development across key● Continued development across key sectors and regions particularly pit-to-port capability throughout Australia, Africa and Latin AmericaAfrica and Latin America

● Increased demand for remediation and decommissioning of spent facilities

● Acquisition of KV3 in South Africa, provides strong support for further project success across Africap j

● The prospects for our Infrastructure & Environment services remain positive for the second half of 2011 and we expectthe second half of 2011 and we expect earnings growth

FMG “Pit to Port”, Australia

Group Outlook

“Following a challenging first half that was impacted by a strong Australian dollar and tight margins we expect the markets for our services to improve through theand tight margins, we expect the markets for our services to improve through the second half of the financial year. Based on stable currency markets and market conditions remaining positive, we expect to report increased earnings for the full yearyear.

“Recent flooding in Queensland will have some effect on the results of our Australian operations. The current unrest and resultant instability in parts of the p y pMiddle East and North Africa is of concern, with the impact difficult to estimate at this stage.

“Based on our competitive position, our diversified business operations and our strong financial capability, we are confident that WorleyParsons’ medium and long-term prospects remain positive.“The company continues to evaluate opportunities for new business growth that add to our existing capabilities and provide value for shareholders.”

Appendices

FX Translation Impact

FX Translation Impact

125.0

130.0

Movement in Major Currencies

AME 19%USLAC 19%

HY11 Revenue1 % by Region

110.0

115.0

120.0

95.0

100.0

105.0

ANZ 25%

E&A 16%

FX translation impact ~$14.1m net profit HY11 vs. HY10

Jun-

09

Aug-

09

Oct-0

9

Dec-

09

Feb-

10

Apr-1

0

Jun-

10

Aug-

10

Oct-1

0

Dec-

10

USD GBP CAD

Canada 21%

Currency Annualized AUD $m NPAT translation impact of 1c ∆

AUD:USD 1 0

Currency HY10 HY11 FY09 ∆

AUD:USD 86 9 94 3 (8 5%)AUD:USD 1.0

AUD:GBP 0.5

AUD: CAD 1.0

AUD:USD 86.9 94.3 (8.5%)

AUD:GBP 53.0 60.2 (13.6%)

AUD: CAD 93.7 96.8 (3.3%)1 Aggregated revenue