Investor Pack

Preliminary Results For The Year Ended 31st December 2015

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Presentation by

Preliminary Results for the Year Ended 31st December 2015

Mark Lawrence, Group Chief ExecutiveAppointed to Board: 2nd May 2003. Age 48

Relevant skills and experience:• 31 years with the company following

completion of an electrical apprenticeship with the Company in 1987

• Progression through the Company including Electrical Engineer, Technical Director (1997), Executive Director (2003), Managing Director – London Operations (2007). Chief Executive from 1st January 2010

• A hands-on leader who takes personal accountability and pride in TClarke’sperformance and ultimately our client’s satisfaction.

• Regularly visits projects and gets involved personally with many of our clients, contractors and our supply chain.

Martin Walton, Group Finance Director Appointed to Board: 26th October 2010. Age 51

Relevant skills and experience:• Chartered accountant with over 25 years

experience in the profession and within industry.

• Worked with numerous plcs across a range of sectors with KPMG and BDO.

• First Class Honours Degree in Accountancy and Finance from the London School of Economics.

• Joined TClarke as Group Financial Controller October 2007.

• Led the implementation of the Group’s management reporting system.

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Group Highlights

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• Leading UK provider of complete range of building services• Strong reputation for quality with long standing client relationships• Highly experienced team with nationwide strength• Currently onsite on some of the most significant London schemes

including, Bloomberg London, London Wall Place, Principal Place, ProjectNova, Rathbone Square, and Westfield London

• Record revenues of £242.4m.• Underlying profits ahead of expectations.• Total dividends for the year maintained at 3.1p.• Net cash increased to £6.7m with £8m of unused banking facilities.• Replenished quality order book of £300m.

• 75 New apprentices recruited in 2015 across the UK• Excellent opportunities for forward growth and future profitability

Financial Review

Page 6 Financial Highlights

Page 7 Income Statement

Page 8 Cash Flow

Page 9 Balance Sheet

Financial Highlights

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2015£m

Margin%

20141

£mMargin%

Revenue1 242.4 207.9

Underlying operating profit1,2 4.6 1.9% 1.3 0.6%

Underlying profit before tax1,2 3.7 0.6

Profit / (loss) before tax1 3.5 1.4% (0.8) (0.4%)

Earnings / (loss) per share - Underlying3

- Continuing operations- Continuing operations - diluted- Basic

7.11p6.66p6.44p0.13p

0.85p(1.78p)(1.78p)(1.58p)

Total dividend

Net cash4

3.10p

6.7

3.10p

5.3

Order book 300 300

1 From continuing operations, 2014 restated to disclose Bristol and Cardiff operations as discontinued2 Before amortisation and non-recurring costs3 Before amortisation and non-recurring costs, and tax on these items4 Net of £5m RCF

Segmental Analysis1 2015 £m

20141

£mRevenue Profit Margin Revenue Profit Margin

London & South East2 129.1 1.5 1.2% 94.5 (1.4) -1.5%Central & South West2 56.9 0.9 1.6% 55.2 0.5 0.9%North 41.8 1.9 4.5% 43.4 1.6 3.7%Scotland 16.2 0.3 1.9% 18.3 0.6 3.3%

Elimination (1.6) - (3.5) -

Total revenue1 242.4 207.9

Underlying operating profit1 4.6 1.9% 1.3 0.6%

Net interest3 (0.9) (0.7)

Underlying PBT1 3.7 0.6

Non-recurring items4 - (1.2)

Amortisation (0.2) (0.2)

Profit before tax1 3.5 (0.8)

Income Statement

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1 From continuing operations – 2014 restated to exclude Bristol and Cardiff2 South Region split into London & SE and Central & SW – 2014 restated 3 Net interest includes £0.6m non-cash items (2014: £0.5m) re the pension scheme4 2014 non-recurring items relate to settlement of historic claims

Cash Flow

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2015£m

2014£m

Operating cash flow before working capital movements 1.0 0.4

Working capital movement 2.4 4.9

Operating cash flow 3.4 5.3

Net interest (0.2) (0.2)Corporation tax (0.3) -

Fixed asset disposals net of additions - 0.4

Cash outflow before financing 2.9 5.5Bank loans - 5.0Dividends paid (1.3) (1.1)

Other movements (0.2) (0.1)

Net cash inflow 1.4 9.3

Opening cash 10.3 1.0

Closing cash 11.7 10.3

• £8m overdraft facility remains in place• £5m 3 year committed facility to March 2017, fully drawn• £17.5m bonding facilities, c£7.3m unutilised

Balance Sheet

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Balance Sheet 2015£m

2014£m

Intangible assets 23.0 23.2

Property plant and equipment 4.6 5.0

27.6 28.2

Inventories and construction contracts 27.4 24.2Debtors 36.3 34.7

Creditors (67.2) (59.9)

Working capital excluding cash (3.5) (1.0)

Net cash 6.7 5.3

3.2 4.3Pension scheme (13.4) (16.3)Tax - current and deferred 2.3 2.8

Finance lease obligations (0.1) (0.1)

Net assets 19.6 18.9

Net current assets 8.2 9.4

• Working capital balances increasing as larger London schemes come on stream• Pension scheme deficit decreased due to higher discount rate • Cash contributions to pension scheme c£1.3m pa• Cash stated net of £5m RCF repayable 31/03/2017

Operational Review

Page 11 Nationwide Coverage

Page 12 Forward Order Book

Page 13 TClarke - Scotland

Page 14 TClarke - North

Page 15 TClarke - Central & West

Page 16 TClarke - London & South East

Page 18 Summary and Outlook

Nationwide Coverage

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Scotland - £16.2m

North - £41.8m

Central and South West - £55.9m

London and South East - £129.1m

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Forward Order Book

M&E Contracting

£170m

2015

ForwardOrder book

£300m

Nationwide Coverage: Scotland

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2015 Scotland - £16.2m

Key Developments

• TClarke Scotland ended 2015 confidently, with a very strongsecured forward order book for 2016.

• Over 80% secured for 2016.• Increased presence in its core residential market.• Strong entry into the FM market working alongside other

Group companies.• Significant contract wins in our M&E business, based on a

selective tendering approach.

Electrical contract securedEaster Bush Campus, The University of Edinburgh

Nationwide Coverage: North

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2015 North - £41.8m

Key Developments

• Impressive secured order book for 2016 – Over 90% now secured.• All three business units now overseen by a common MD, providing integrated management across the North.• Strategy to explore opportunities in the Northern Power House, particularly in Manchester.• FM Opportunities continue to be developed, Nationwide contracts secured. • Works being targeted at airports.

Recently secured, New flagship store for John Lewis, Leeds

Nationwide Coverage: Central and South West

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Key Developments

• 86% secured order book for 2016.• TClarke East and Midlands now operate as single business unit.• Expanded SW Operations, Bristol and Cardiff discontinued.• Strategy of targeting larger contracts in the South West has been

successful.

Significant projects such as Beckley Court, Plymouth have been secured

2015 Central and South West - £55.9m

Nationwide Coverage: London and South East

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2015 London and South East - £129.1m

TClarke is seen as the partner of choice demonstrated bycurrent London projects.86% of 2016 Revenues secured.

• 1 Angel Court• 10 Fenchurch Avenue• 22 Bishopsgate• 100 Bishopsgate• Bank Underground Station• BBC Studios, White City• Bloomberg London• London Wall Place• Mizuho Bank• Principal Place• Project Nova• Rathbone Square• Ruskin Square• Selfridges• Tate Modern • TIQ – The International Quarter• Victoria Underground Station• Westfield London, Extension

Nationwide Coverage: London and South East

• 21 Moorfields, Land Securities• Amazon, Principal Place• Aykon Tower – Nine Elms• Broadgate 2020, British Land• Facebook, Rathbone Square• Goldman Sachs New London Project – Current Tender• Hanover Square, Great Portland Estates• Marble Arch Place, Almacantar – Current Tender• Project Vanquish, Henderson Global Investments• Schroders, London Wall Place• WC1 White City, Stanhope – Current Tender• Westfield Croydon, Westfield / Hammerson• Wimbledon No1 Court New Roof – Current Tender

Our confidence is underpinned by our future opportunitiesWimbledon No1 Court New Roof

Goldman Sachs

WC1 White City Marble Arch Place Schroders, London Wall Place

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Our daily priority is safetyHealth and safety is paramount to our business and our safety performance remains strong. Safety is our numberone daily priority.

Partner of ChoiceOur first class team has the knowledge, skills and reputation to continue to be regarded as one of the bestcontractors in the sector. This key advantage helps to drive our business forward and deliver value for ourshareholders.

Summary and Outlook

OutlookMarket conditions continue to improve.

The Company is focused on improving performance andmargins throughout the Group.

We remain alert to any challenges that we may face

We approach the future w ith confidence andenthusiasm. The future for the Group remainssolid.

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Appendices

AppendicesPage 20 PLC Board

Page 21 The TClarke Academy

Page 22 Health and Safety

Page 23 TClarke Founded 1889

PLC Board

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The TClarke Academy

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Our intake of 75 apprentices was supported from day one in London by an innovative ‘buddy’ scheme, pairing new joiners with experienced apprentices –our aim is to make their experience as good as possible.

The picture below is Apprentices Day at Moorfields, London, September 2015.

Health and Safety

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TClarke Founded 1889

• TClarke and Co. Founded 1889

• Became a Limited Company 1911

• Listed on London Stock Exchange 1948

• 53% of shares acquired by Electrowatt Engineering Services, Zürich

• Electrowatt acquired by Siemens in 1998 and 53% holding placed with institutions

• UK presence expanded by acquisition and organically

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