INVESTOR PRESENTATION - Codan

REVENUE BY DIVISIONTotal revenue by divisionFY13FY12$m % of total sales $m % of total salesCommunications Products $58.0 24% $66.4 37%Metal Detection Products $166.3 68% $98.6 55%Mining Technology $14.5 6% $9.3 5%Other* $5.5 2% $5.1 3%Total revenue $244.3 100% $179.4 100%• Sales of Communications Products decreased due to tightening of US government budgets leading to delays in major fundingprograms in the US and across emerging world markets in Africa and Central Asia• FY13 was a record sales and profit year for Metal Detection Products. While sales of Metal Detection Products have grown over thisperiod, the sale of detectors into the small‐scale gold mining markets of Africa dominated the results• Mining Technology sales increased marginally as the technology was rolled out to reference sites at blue‐chip mining companies*Other income is comprised of printed circuit boards21