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Ausenco expands

in North American

oil and gas market

ASX release 8 July 2013

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013


Expansion into Canadian oil sands market

Delivering on strategy to grow Energy business

• Acquired PROJEX Technologies – Canadian based provider of

EPCM services to North American oil sands sector

• Supports Ausenco’s strategy to expand services in North

America’s high growth oil sands market

• Acquisition complements 2012 acquisition of Reaction Consulting

with full delivery of consulting process engineering expertise and

onsite troubleshooting services

• Structured to provide full range of services across entire lifecycle

of oil sands projects

• Aligned values, systems and culture with Ausenco

• After synergies, the acquisition is expected to deliver 2014 Energy

revenues of $40 million and EBITDA of over $5 million

Revenue

$40m

EBITDA

$5m

People

220

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013


Global Energy market presents

significant opportunities

• PROJEX acquisition builds on strategy

to capture a greater share of

$600 billion global energy market

• Canadian oil sands market 2015 capital

expenditure estimated at $23.4 billion

• Small to medium brownfield projects

driving growth

• Committed to ongoing strategy to grow

Energy sector earnings

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013


Full oil sands offering

PROJEX Technologies overview

• Full service engineering firm delivering EPCM services to oil sands and

heavy oil production and processing facilities

• Tier 1 clients include seven of the top 10 oil sands producers in Canada

• Offices in Calgary, Alberta and Halifax, Nova Scotia

• Leader in EPCM services delivery of brownfield oil sands projects

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013


Combined offering to deliver strategic growth

Calgary Oil and Gas Business Development Model

Thermal / Heavy Oil

Facilities

Well Pad Design

Field Pipelines

Central Processing

Facilities

Product

Transportation

Facilities

Conventional

Facilities

PROJEX (Engineering, Design and Construction Support)

Strategic Growth Opportunity

Ausenco (existing Evaluate phase capabilities)

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013


Earnings accretive; Significant integration synergies

• Immediate earnings per share accretive

• Significant synergies with existing Ausenco Energy

business expected

• $15.2 million purchase price payable on completion

• Over $2 million in cost synergies expected into 2014

• Over 220 people focused in delivery across all phases of

the oil sands project lifecycle

• Key management personnel committed to remain with

Ausenco

• Funded from available cash and debt facilities

• Subject to conditions precedent expected to be completed

in late July 2013

• Fully integrated with Ausenco systems by October 2013

Acquisition of PROJEX TECHNOLOGIES LTD | 8 July 2013

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