COFFEY INTERNATIONAL LIMITED

Wilson HTM – Focus on Mining Services Conference

10 November 2010

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Agenda

• About Coffey • Our value proposition and specialist businesses• Differentiation and competitive advantage• Key opportunities• Key challenges and risks• One thing to change

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About Coffey

• Delivering projects globally in 4 sectors– Infrastructure– Resources– Government– Property

• Service lines in 8 specialist fields to deliver technical excellence

– Mining, Environments, Geotechnics, Information, Rail, Commercial Advisory, Projects, International Development

• Divided the world into 4 regions to deliver operational excellence

– Asia Pacific, Americas, Europe & Middle East, and Africa

• Total staff approximately 4,000For

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Our services and regions

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Our Vision - Global specialists solving emerging challenges to improve the lives of communities

Our Promise - We share your challenge and passionately deliver smarter solutions

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COFFEY MINING

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Our Commodity Experience

• Coffey Mining has extensive experience in the following commodities:– Coal– Iron ore– Base metals (lead, zinc, nickel, copper)– Precious metals (silver, gold)– Diamonds – Mineral sands– Industrial minerals

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Our International Accreditation

• Recognised by all major international stock exchanges (Sydney, Toronto, London, Johannesburg, Singapore, Hong Kong)

• Accredited by the major international financial institutions (technical audits) and resource funds

• Accredited as ‘Qualified Persons’ (Canada), ‘Competent Persons’ (London) and ‘Experts’ (Australia)

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Our Specialties, Services and Products

SPECIALTIES

• Geology• Resource

Evaluation• Mining Geotechnics• Hydrogeology• Mining Engineering• Metallurgy• Tailings Engineering• Backfill Engineering• Environmental &

Social Performance• Business

Improvement

SERVICES

• Studies• Audits• Corporate Services• Technical Services• Exploration Project

Management• Geochemical Drilling• Operational Support• Mine Closure• Materials Testing

PRODUCTS

• GeotechnicalInstrumentation & Monitoring Systems

• Spatial Data Management Solutions

• Hydraulic Transport applications

SERVICES

• Mine Seismicity• Ground Support

Selection• Instrumentation &

Monitoring• Hydraulic Transport

& Pipe Testing• GIS & Remote

Sensing• Specialist Software

Development

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Highlight Project - Etango Project

Location: NamibiaSector: ResourcesClient: Bannerman ResourcesDate project commenced: 2009Date completed: OngoingTotal size of project: UndisclosedServices provided by Coffey: Bannerman Resources is an ASX listed company developing a uranium project in Namibia, close to the famous Rossing Uranium Mine; Coffey Mining is undertaking the resource estimate to quantify the size and shape of the orebody. We are able to provide an estimate recognised by all major financial institutions and global

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COFFEY COMMERCIAL ADVISORY

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Our Services

FINANCIAL

• Capital structuring• Equity financing• Debt financing• Asset valuation• Project investment

decisions• Risk due diligence• Risk assessment

ECONOMIC

• Market analysis• Business case

development• Project feasibility• Project planning

ORGANISATIONAL

• Structures• Project offices• Management

Systems• Business

improvements• Governance

framework• Skills transfer

TRANSACTION

• Project leadership• Market sounding• Delivery models• Tender process

management• Contract

negotiations• Commercial advice• Team coordination• Tender evaluation• Gateway reviews

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Our Sectors

INFRASTRUCTURE

• Water• Transport• Roads• Energy• Waste• Telecommunications• Defence• Education• Health• Justice

GOVERNMENT

• Capacity building• Third party relations• Regulatory reform• Sporting Facilities• Sporting

organisations• Sporting events• Sporting

competitions

RESOURCES

• Natural food resources

• Mineral resource deals

PROPERTY

• Commercial• Land development• Strategic Advisory

work for sporting organisations

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Highlight Project - Western Corridor Recycled Water Project

Client: Queensland Department of Infrastructure and PlanningLocation: South East Queensland, AustraliaCapital value: A$2.6 billionAbout the project: Largest water recycling project in the southern hemisphere. The project was delivered through five alliances - three providing advanced water treatment plants and two providing more than 200km of large diameter pipelines. Coffey Commercial Advisory was commissioned to provide strategic leadership and project management expertise in order to meet time and political imperatives during a period of severe drought in South East Queensland.

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COFFEY ENVIRONMENTS

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Our Services

ENVIRONMENTAL DESIGN SERVICES &

MANAGEMENT • Building

Engineering• Fire Safety & Risk

Engineering• Cooling Tower /

LegionellaManagement

HEALTH & SAFETY

• Noise Measurement & Control

• Contaminant Monitoring

• Illumination Assessments

• WHS Training• Asbestos &

Hazardous Compliance

POLLUTION, WASTE & REMEDIATION

• Environmental Site Remediation

• Groundwater/Water Supply and Treatment

• Contaminated Land Auditing

SUSTAINABLE ENGINEERING

• Energy Management

• Water Management• Utility Monitoring

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Highlight Project – Sustainable Development in Laos

Location: Sepon, Lao People’s Democratic RepublicClient: Oz Minerals, formerly Oxiana Limited Date project commenced: 2001Completion date: 2009About the project: Coffey’s specialist skills were used to obtain environmental approval for Laos’ first major mine, the Sepon Gold and Copper Mine. As part of the environmental and social impact assessment (EISA), Coffey developed a number of social and environmental strategies that are continuing to provide benefits to the local Sepon community and to the country as a whole.

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COFFEY GEOTECHNICS

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Our Services

GEOTECHNICAL ENGINEERING

• Site investigation• Geological modelling• Tunnelling• Foundations• Landslides• Tender and

construction advice• Instrumentation• Embankment

designs• Pavement designs

for highways, ports and airfields

GEOPHYSICS

• Land and marine seismic reflection and refraction

• Radiowave• Tomographic

imaging• Electromagnetic

surveys

GEOTECHNICAL ENGINEERING

• Dam design• Excavations• Earthquake analysis• Land development

design• Numerical modelling

GROUNDWATER

• Pump testing• Groundwater supply• Dewatering design• Numerical modelling• Seepage analysis

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Highlight Project – Limerick Tunnel

Location: IrelandSector: Infrastructure - TunnelsTotal size of project: €500-million-plus, Coffey Geotechnicswas awarded the prestigious Fleming Award by the British Geotechnical Association for its’ innovation on this projectServices provided by Coffey: Analysis of the behaviour of all elements, including the walls and bulkheads. The solution adopted retained the excavations with combiwalls that were made up of 1.4-metre steel pipe piles that were alternated with pairs of sheet piles

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COFFEY INFORMATION

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Our Services

GEOTECHNICAL & MINING TESTING &

ANALYSIS• Soil• Rock• Aggregates• Concrete• Pavement and

Asphalt• Field Testing for

geotechnical environmental and mining projects

SUPERVISION, INSPECTION & MONITORING

• Earthworks supervision

• Site assessments• Testing of

earthworks, concrete and pavements

• Skid resistance• Site laboratories

INSTRUMENTATION & MEASUREMENT

• Instrumentation in civil and mining projects

• Data Management and Telemetry

• Stress Measurement

DRILLING

• Geotechnical site investigations

• Auger & mud drilling• NMLC rock coring• Drilling supervision• Borehole logging• Rock core logging• CPT testing• Pressuremeter

testing

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Highlight Project – Northern Hume Alliance

Location: New South Wales, AustraliaSector: Infrastructure – RoadsClient: NHA Alliance Team – Road and Transport Authority of NSW, Leighton, Coffey (Coffey Information & Coffey Geotechnics), AECOM, Snowy Mountains Engineering Corporation (SMEC)Date project commenced: March 2007Date completed: October 2009Total size of project: $800m (fees approx $15m)Services provided: Construction materials testing

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COFFEY INTERNATIONAL DEVELOPMENT

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Our Services

KEY PRACTICE AREAS

• Economic growth• Human development• Environment and

natural resources• Governance and public

sector management• Stabilisation and

recovery• Security and justice

CORE COMPETENCIES

• Managing the policy change process

• Results-based planning• Performance

management and evaluation

• Organisational development and training

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Highlight Project - Tatweer National Capacity Development Program

Location: IraqClient: USAIDDate commenced: 2006Date completed: Ongoing and phase 2 being tenderedTotal size of project: US$340 million, largest US-funded public administration project since Vietnam War, model for similar projects in post-conflict regions around the worldServices provided by Coffey: Project advisory assisting ministers, mid and senior level staff to develop project management, human resources, information technology and financial management skills

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COFFEY PROJECTS

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Our ServicesPROJECT MANAGEMENT

• Project scoping• Project structuring• Project management plan preparation• Project study leadership• Master planning and concept analysis• Consultant team selection and engagement• Design management• Project brief development and needs

analysis• Quality assurance & project management

procedures• Risk analysis and management• Contractor selection and appointment• Tendering procedures and protocols• Procurement controls and contracts• Value engineering• Co-ordination of project activities• Authority compliance and approvals co-

ordination• Project monitoring and auditing• Cost control, project commissioning and

handover• Procurement strategy• Competitive tender implementation• Building condition reports

PROJECT DELIVERY• Contract administration/

superintendancy• Construction project

management• Tenancy co-ordination• Fit out project management• Project handover management

SPECIALIST MANAGEMENT

• Program management• Professional development and

training• Project maturity modelling• Value management• Strategic risk management• Stakeholder consultation• Partnering• Facilitation of project planning

workshops• Arbitration, mediation,

negotiation and problem solving

DEVELOPMENT ADVISORY MANAGEMENT

• Development planning, programming and management

• Feasibility study analysis• Business case development• Financial structuring• Site acquisition management• Buildability review and staging

analysis• Co-ordination of market research• Complete bid management• Land release and marketing co-

ordination• Leasing and sales co-ordination• Community consultation co-

ordination• Co-ordination of post occupancy

evaluation• Contract negotiations• Implementation

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Highlight Project - Emirates’ Wolgan Valley Resort

• Location: New South Wales, Australia• Client: Emirates• Sector: Commercial Property• Date project commenced: • Date completed: 2009• Total size of project:

– $A125 million– The Wolgan Valley Resort and Spa is Emirates’ most significant

hotel resort project outside of Dubai, Australia’s first conservation-based luxury resort and the first hotel in the world to achieve carbon neutral certification

• Services provided by Coffey: – design and construction project management

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Differentiationspecialist skills, unique technology and great people

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Geospatial FusionGeospatial SolutionsF

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Mining: Hydrogeology Geo-Sensor Data Collection for GIS DatabaseClient: Votorantim MetalsLocation: Vazante Limestone Mining DistrictCapital value: A$ 100,000About the project: Coffey developed a GeoHIDRO tool and solution for hydrogeological and environmental monitoring. The system was required to standardise the methods of collection, storage and visualisation of data to enable a rapid and integrated interpretation of the information stored. Data visualisation and charts are viewed using a web interface which optimised the production of maps, tables and charts for reports. Other benefits included substantial reduction of costs, access to up-to-date data for quick decision making, and real-time connection in 2D and 3D.

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Financial Performance

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Financial Overview 2010

• Fee revenue $475.7m – down 7%

• OEBITDA* $45.5m – down 19%

• NPAT $13.8m – down 16%

• Working Capital 69 days

• Gearing (D/E&D) 34%

• Final dividend 3.5 cps

261.2153.2

61.3

Fee revenue

Consulting I Dev Project Mangement

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* Operating EBITDA pre Vendor Earn-out (VEO) &Vendor Share Based Payments (VSBP)

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Group Fee Revenue

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59%

510.4475.7

0.0

100.0

200.0

300.0

400.0

500.0

FY 2009 FY 2010

APAC AMER EME AFRICA

$m

25%

13%

64%

22%

12%

59%

400

420

440

460

480

500

520

540

$m

Fee Revenue - Group

Actual 12mth MAT Actual 3mth MAT

Management restructure

Expanded Business

Development

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Key Opportunities

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Key Opportunities

Coal prices

Uranium shipments

Iron Ore shipments

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Minas Paz Del Rio – Votorantim Siderurgia South American coal project

• Location: Paz de Río – Boyacá Province -Colombia

• Sector: Resources • Client: Minas Paz Del Río – Votorantim

Siderurgia• Project time period: 60 days• Total size of project: R$ 650.000 / A$

400,000• Services provided by Coffey: Geological

and Structural Mapping Focused on Coal - a team of 5 geologists, led by a Master Geologist, completed 250 square kilometres of mapping in Colombia over 60 days in the field. Field work was completed in late October 2010.

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Key Challenges & Risks

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Key Challenges and Risks

• GFC revisited• Commodity prices• Business Confidence• Protracted recovery in UK, USA,UAE, Canada• Project delays for a variety of reasons• Rising A$

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Outlook

• Still cautious but there seems to be more activity in our markets, offset by project delays which continue to occur

• Continuing commitment from Governments to increase AID spending, and security is a major focus

• Resources has picked up globally

• Africa and Middle East still impacted by GFC but Australia Canada and New Zealand improving

• Environmental work in Iraq oil fields is increasing and we are very well positioned with this major spend that will occur in coming years

• Also in Iraq new agriculture project won and Tatweer stage 2 has been submitted

• The impact of the restructure has been worked through and we expect to see benefits of collaboration, cross selling and common systems start to take effect

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One thing to change

• The GFC as an external factor • The global expansion just before the GFC

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Q & A

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Appendix

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A snapshot of Coffey over past 5 years

* Pre VEO + VSBP

Metrics FY06 FY07 FY08 FY09 FY10($m) unless otherwise statedRevenue 251.9 362.7 558.6 808.7 769.8

Fee revenue 210.9 281.9 376.6 510.4 475.7

Operating EBITDA* 24.2 29.1 49.8 56.0 45.5

EBIT 20.6 18.4 35.0 41.1 32.3

NPAT* 13.4 14.4 22.9 22.8 18.9

NPAT (reported) 11.6 8.4 15.3 16.4 13.8

Operating EBITDA* margin 11.5% 10.3% 13.2% 11.0% 9.6%

EPS (basic) (NPAT*) 19.0 16.0 20.8 20.1 16.3

Net Debt 54.8 46.1 91.9 92.8 100.5

Equity 67.0 177.6 196.1 191.1 198.2

Net debt/equity 81.8% 26.0% 46.9% 48.6% 50.7%

Net debt/capital 45.0% 20.6% 31.9% 32.7% 33.6%

Interest cover (Operating EBITDA*) 7.6 6.0 6.3 4.6 3.7

Operating EBITDA / Capital (equity + net debt) 19.9% 13.0% 17.3% 19.7% 15.2%

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P&L By Region by Service Line - 2010

2010 APAC AMERICAS EME AFRICA GROUPH1 H2 FY H1 H2 FY H1 H2 FY H1 H2 FY H1 H2 FY

Fee SummaryConsulting 115.6 104.0 219.7 16.0 15.0 31.1 2.6 2.4 5.0 2.6 2.9 5.5 136.9 124.4 261.2

Int Development 13.1 20.0 33.1 37.3 37.6 74.9 21.0 24.1 45.1 0.0 0.0 0.0 71.5 81.7 153.2

Project Mgt 26.5 22.7 49.2 0.0 0.0 0.0 3.1 2.5 5.6 3.3 3.2 6.5 32.9 28.4 61.3

155.3 146.7 302.0 53.4 52.6 106.0 26.7 29.0 55.7 5.9 6.1 12.0 241.3 234.4 475.7

EBITDAConsulting 25.5 13.6 39.1 0.4 (0.9) (0.5) (0.3) 0.0 (0.3) 0.4 0.5 0.9 26.0 13.2 39.2

Int Development 4.9 4.8 9.7 10.5 8.6 19.1 (1.9) (0.7) (2.6) 0.0 0.0 0.0 13.5 12.7 26.2

Project Mgt 4.0 1.0 5.0 0.0 0.0 0.0 (0.5) 1.2 0.7 1.2 1.0 2.2 4.7 3.2 7.9

Business support (9.0) (7.1) (16.1)

Corporate (4.1) (3.7) (7.8)

Group EBITDA 34.4 19.4 53.8 10.9 7.7 18.6 (2.7) 0.5 (2.2) 1.6 1.5 3.1 31.2 18.2 49.4

Group EBITDA before ‘one off’ restructure costsFor

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P&L By Region by Service Line - 2009

2009 APAC AMERICAS EME AFRICA GROUPH1 H2 FY H1 H2 FY H1 H2 FY H1 H2 FY H1 H2 FY

Fee SummaryConsulting 119.8 105.6 225.4 25.7 16.9 42.6 2.6 3.3 5.9 4.2 5.2 9.4 152.3 131.1 283.3

Int Development 16.1 4.9 21.0 39.0 45.3 84.3 16.5 30.1 46.6 0.0 0.0 0.0 71.6 80.3 151.9

Project Mgt 26.9 28.6 55.5 0.0 0.0 0.0 5.7 6.0 11.7 4.7 3.3 8.0 37.3 37.9 75.2

162.8 139.1 301.9 64.7 62.2 126.9 24.8 39.4 64.2 8.9 8.5 17.4 261.2 249.2 510.4

EBITDAConsulting 24.3 15.9 40.3 4.4 (0.2) 4.1 (1.9) (2.8) (4.7) 1.5 0.2 1.7 28.4 13.1 41.4

Int Development 1.5 2.5 4.0 10.4 9.7 20.1 0.9 (0.1) 0.8 0.0 0.0 0.0 12.8 12.0 24.8

Project Mgt 3.3 1.9 5.2 0.0 0.0 0.0 1.7 2.8 4.5 1.8 1.3 3.1 6.9 6.0 12.9

Business support (8.1) (7.5) (15.6)

Corporate (3.8) (3.8) (7.5)

Group EBITDA 29.2 20.3 49.5 14.7 9.4 24.2 0.8 (0.1) 0.6 3.3 1.6 4.9 36.2 19.9 56.0

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High level balance sheetAs at 30 June($m)

2009 2010

Cash & equivalents 40.6 27.1

Trade & other receivables 119.3 117.4

Current assets 206.4 198.0

Intangible assets 218.1 226.1

Non-current assets 274.7 280.7

Total assets 481.1 478.7

Trade and other payables 71.8 68.9

Borrowings 1.1 0.8

Current liabilities 119.3 121.1

Borrowings 143.4 137.7

Non-current liabilities 170.7 159.4

Total liabilities 290.0 280.5

Net assets 191.1 198.2For

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