Exova PLC Investor Conference Call 29 November 2013

Exova PLC Investor Conference Call 29 November 2013

2 Forward looking statements This document contains certain forward looking statements based on knowledge and information available to the directors at the date the document was prepared. Although the directors expectations are based on reasonable assumptions, these statements should be treated with caution due to the inherent uncertainties underlying such forward looking information and any statements about the future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.

3 Section 1 Business review Ian El-Mokadem Chief Executive Officer

4 Performance headlines Q3 YTD 2013 Revenue growth was 11.6% and 9.3% at constant currency All regions continue to show positive sales growth EBITDA 45.0 million (2012: 38.0 million) Acquired Defiance Testing & Engineering Services Inc. on 30 September 2013, making Exova one of the leading providers of transportation testing services in North America Acquisitions pipeline developing Started to explore the possibility of an Initial Public Offering

5 Q3 2013 YTD performance Europe (49% of Group sales) Constant currency revenue growth of 6.9% EBITDA up 1.2 million on Q3 YTD 2012 Good growth in Aerospace, Fire, Oil & Gas and Metech Reorganisation of Industrials to increase efficiency Americas (39% of Group sales) Constant currency revenue growth of 14.3% EBITDA up 7.0 million on Q3 YTD 2012 Overall growth supported by high levels of project work in Transportation sector Good growth in Aerospace and Oil & Gas Canadian businesses slightly weaker than the US

6 Q3 2013 YTD performance Middle East/Asia Pacific (12% of Group sales) Constant currency revenue growth of 3.7% EBITDA 1.2m behind Q3 YTD 2012 Continued good growth in Fire business Some improvement in growth in MEAP non-fire Testing businesses Overall EBITDA performance continues to be affected by adverse sales mix and investment in regional team

7 Revenue growth by region Quarterly year on year sales growth management accounts constant currency basis

8 Section 2 Financial review Anne Thorburn Chief Financial Officer

9 Income statement Nine months ended 30 September millions 2013 2012 Revenue 209.0 187.3 EBITDA 45.0 38.0 Acquisition and integration costs (0.6) - Restructuring costs (2.2) (4.2) Revenue improved by 21.7 million EBITDA improved by 7.0 million Acquisition costs relate primarily to the Defiance transaction Restructuring costs mainly related to reorganisation of UK Food Advisory and Industrials and change in senior management in the Middle East

10 Revenue Nine months ended 30 September millions 2013 2012 Growth at reported exchange rates Growth at constant exchange rates Europe 101.9 92.6 10.0% 6.9% Americas 81.7 70.6 15.7% 14.3% Middle East/Asia Pacific 25.4 24.1 5.4% 3.7% Total Group 209.0 187.3 11.6% 9.3%

11 EBITDA Nine months ended 30 September millions 2013 Margin 2012 Margin Europe 18.8 18.4% 17.6 19.0% Americas 23.7 29.0% 16.7 23.7% Middle East/Asia Pacific 2.5 9.8% 3.7 15.4% Total Group 45.0 21.5% 38.0 20.3% Actions taken to improve efficiency in Europe Americas margin supported by project work in Transportation and ongoing cost efficiencies Middle East weak due to adverse sales mix and investments to strengthen regional team

12 Cash flow Nine months ended 30 September millions 2013 2012 EBITDA 45.0 38.0 Acquisition and integration costs (0.6) - Restructuring costs (2.2) (4.2) Movements in working capital (6.0) 1.3 Government grants (1.3) (1.6) Other (0.5) (0.5) Cash flow from operations 34.4 33.0 Net capital expenditure (12.9) (9.6) Investment in subsidiary undertakings (18.7) - Dividends due to minority shareholders (1.0) - Net interest paid (11.7) (11.8) Tax paid (3.9) (1.3) Free cash flow Working capital reflects sales growth and increase of 3 days in DSOs compared to December 2012 Capex higher in Q3 2013 YTD and plan to be only slightly ahead of 2012 for the full year Acquisition cost of 18.4m for Defiance funded by new borrowings (13.8) 10.3

13 Net external debt / EBITDA Based on last 12 months EBITDA millions Sep 2013 Dec 2012 Net external debt 219.7 204.3 Net external debt / EBITDA 3.6 3.8 Gearing improved to around 3.6 times

14 Q & A