ALS LIMITED — Investor Presentation 2012

May 20, 2012

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2012 FULL YEAR

Results Presentation Investor Road Show May 2012

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IMPORTANT NOTICE AND DISCLAIMER

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• This presentation has been prepared by Campbell Brothers Limited, ( CBL or the Company ). It contains general information about the Company’s activities as at the date of the presentation. It is information given in summary form and does not purport to be complete. The distribution of this presentation in jurisdictions outside Australia may be restricted by law, and you should observe any such restrictions.

• This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of securities, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, securities in any jurisdiction. Neither this document nor anything in it shall form the basis of any contract or commitment. This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate.

• The Company has prepared this presentation based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein.

• This presentation includes forward-looking statements within the meaning of securities laws. Any forwardlooking statements involve known and unknown risks and uncertainties, many of which are outside the control of the Company and its representatives. Forward-looking statements may also be based on estimates and assumptions with respect to future business decisions, which are subject to change. Any statements, assumptions, opinions or conclusions as to future matters may prove to be incorrect, and actual results, performance or achievement may vary materially from any projections and forward-looking statements.

• Due care and attention should be undertaken when considering and analysing the financial performance of the Company.

• All references to dollars are to Australian currency unless otherwise stated.

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March 2012 Full Year Snapshot

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pre unusual items

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FY08
REVENUE
FY09
FY10 31 [st] March 2012 27
FY11 %
FY12 $1406mn
0 250 500 750 1000 1250 1500
FY08
EBITDA
FY09
FY10 31 [st] March 2012 57
FY11 %
FY12
$374mn
0 60 120 180 240 300 360
FY08
NPAT
FY09
31 [st] March 2012
FY10 68
FY11 %
FY12
$222mn
0 40 80 120 160 200 240
FY08 FY09 FY10 FY11 FY12
3 Average USD:AUD (cents) 88 79 86 95 105
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Full Year Results – Overview

excluding unusual items

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	Mar 12	Mar 11	Change
Revenue ($mn)	1,406	1,108	+27%
EBITDA ($mn)	374	238	+57%
Profit before tax ($mn)	312	186	+68%
Net profit after tax ($mn)	222.4	132.2	+68%
Wtd. ave. number of shares	67,503,000	65,139,000	+4%
Earnings per share (c)	329	203	+62%
Full Year Dividend (c)	225	140	+61%
Number of employees Includes full time, part time and casuals	12,101	8,936	+35%
Safety Statistic – LTIFR	3.0	2.5

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Maintenance of Dividend Policy

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$0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 $2.00 $2.20 $2.40 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Total dividend $2.25 - 68% payout ratio

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Total Shareholder Return
– last three year period
Campbell Brothers
Boart Longyear
Core Laboratories
Monadelphous
Cardno
Intertek
Bureau Veritas
MacMahon
Orica
Eurofins
Clough
Worley Parsons
Ausenco
SGS
Transfield Services
Servcorp
Coffey
-100% 0% 100% 200% 300% 400% 500% 600% 700%
Total Shareholder Return (1st April 2009 to 31st March 2012)
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Source- Ernst & Young

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ALS - New Divisional Structure

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- Four Global Divisions

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- Ten Business Streams

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13%
7%
49%
31%
Revenue by Division
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ALS Group
Full Year Snapshot
Average USD:AUD (cents)
REVENUE
88 79 86 95 105
31 [st] March 2012
39
1200 400
%
$1192mn
350
1000
300
800
250 EBITDA
31 [st] March 2012
54
600 200
%
$385mn
150
400
100
200
50 EBIT
31 [st] March 2012
61
0 0 %
FY08 FY09 FY10 FY11 FY12
$341mn
Revenue EBITDA EBIT
EBITDA & EBIT (AUD million)
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Growth of non-Minerals Divisions

EBITDA (incl ALS overheads)

Revenue

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1,400 400
Non-Mineral EBITDA margin
21% 21% 24% 20% 24% 23% 25%
350
1,200
300
1,000
250
800
200
600
150
400
100
200
50
- -
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY06 FY07 FY08 FY09 FY10 FY11 FY12
AUD$ millions
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Life Sciences Energy Industrial Minerals

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The non-Minerals revenue of ALS is now larger than ALS’ entire revenue only two years ago and the Minerals Division has been transformed from a geochemical only business in 2009 to a geochemical, metallurgical and inspection business in 2012.

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ALS Group Revenue Performance

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Revenue by Geography FY11 Vs FY12

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1400 Reported Growth 39%
1200
1000
800
Constant Currency
600 Growth 46%
400
200
0
FY 2011 Organic Acquired FX FY 2012
ALS Revenue AUD $million
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9%
6%
5% [7% ]
Australia
5% 5%
Asia
44%
46%
Nth America
Sth America
32%
Africa
32%
5%
Europe
4%
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Revenue by Division FY11 Vs FY12

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13%
17%
7%
39% Minerals
8%
49% Life Sciences
Energy
Industrial
31% 36%
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ALS Group Performance

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EBIT Margin (incl. ALS overheads)

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40%
35%
30%
25%
FY2011
20%
15% FY2012
10%
5%
0%
Minerals Life Sciences Energy Industrial
Revenue Growth
Industrial
Energy
Life Sciences
Minerals
-20% -10% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Organic Acquired FX Impact
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Minerals Division

	2012	2011	Change
Revenue	$591mn	$334mn	77%
EBITDA	$234mn	$127mn	84%
EBIT	$215mn	$112mn	92%
EBIT Margin	36.3%	33.4%	+290bps

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Overview

• Acquisition (AUD$222mn) and integration of Stewart Group very successful

• 16 new or refurbished laboratories completed

• Successful introduction of CoreViewer[TM]

• Expansion in central Asia

• Significant capacity increase in Kamloops metallurgical laboratory

• Pricing stabilised

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r
e
v Geochemistry
Metallurgy
e
Inspection
n
Other
u
e
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Outlook

• Favourable market conditions through 2013

• 14 new or refurbished laboratories planned

• New 7000 m[2 ] Santiago geochemistry and metallurgical laboratory to be operational by January 2013

• High Pressure Acid Leach pilot plant to be installed in Perth

• New hub laboratory in Ireland

• Iron Ore Technical Centre to be built in Perth

• Commissioning of new hub lab in Johannesburg by July 2012

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Life Sciences Division

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	2012	2011	Change
Revenue	$361mn	$308mn	17%
EBITDA	$96mn	$82mn	17%
EBIT	$78mn	$66mn	18%
EBIT Margin	21.7%	21.5%	+20bps

Overview

• Acquisition (AUD$40mn) and integration of Columbia Analytical Services very successful

• • Acquisition (AUD$40mn) of Eclipse and AMS completed in April 2012

• Introduced mobile app for environmental clients

• • Australian and Scandinavian markets strong

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Australia
v
Asia
e Nth America
n Europe
u
e
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• Includes a full year for CAS acquisition in North America

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Outlook

• Focus on expanding food/pharma revenues

• New food/pharma laboratories in Melbourne, Sydney & Brisbane

• Refurbish or new environmental laboratories in Brisbane, Sydney, Calgary, Singapore, Hong Kong, Kuala Lumpur, Jakarta

• Further development of air markets

• New generation LIMS to be rolled out to all laboratories over next two years

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Energy Division

	2012	2011	Change
Revenue	$88mn	$73mn	20%
EBITDA	$26.6mn	$19.9mn	34%
EBIT	$23.7mn	$17.2mn	38%
EBIT Margin	26.9%	23.6%	+330bps

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r
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Australia
v
Asia
e
Nth America
n Africa
u
e
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Overview

• Excellent year, far exceeding industry growth rates

• Laboratory industry leading safety record; LTIFR = 2.4

• Full commissioning of the new Brisbane laboratory – the largest coal analytical laboratory in the world

• New laboratories built in Emerald and Bowen

• New LIMS rolled out to all Australian laboratories

• Successful integration of the anglo American Central Laboratory in South Africa and the Stewart Group laboratory in Mongolia

Outlook

• New “Energy Division” created to focus attention on oil and gas upstream opportunities

• Further capacity build out of Brisbane laboratory

• Expansion into Indonesia underway with Mozambique, China and USA under consideration

• New site with larger capacity being developed in Mongolia

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Industrial Division

	2012	2011	Change
Revenue	$153mn	$142mn	8%
EBITDA	$29.0mn	$20.6mn	41%
EBIT	$24.5mn	$16.6mn	48%
EBIT Margin	16.0%	11.7%	+430bps

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Overview

• Strong year leverage off continuing improvement from previous year

• Disposal of PearlStreet Energy Services allows focus on Asset Care business

• Acquistion (AUD$40mn )of PowerServices very successful

• Strong margin improvement

• Advanced Engineering Services model rolled out

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v Australia
Sth America
e
Nth America
n
Africa
u
e
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• A number of major shutdown projects delayed into 2012-13

• Delays on some major infrastructure projects previously won

Outlook

• Focus on expansion of business outside of Australia

• Introduction of further high-end technologies

• Continued market and market share growth

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Campbell Chemical Division

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Overview

	2012	2011	Change
Revenue	$90mn	$130mn	(31)%
EBITDA	$8.8mn	$9.8mn	(10)%
EBIT	$8.1mn	$7.4mn	9%
EBIT Margin	9.0%	5.7%	+330bps

• Record sales and operating profit for the Panamex Group

• Revenue down as a result of Cleantec disposal

• Strong sales in Papua New Guinea

• Better cost control across all business sites

• Deltrex sales in Australia subdued due to contraction in manufacturing sector, customer factory closures and adverse weather

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• Some one off costs incurred in decoupling the Cleantec business

Outlook

• Panamex expecting a strong year with further growth in Papua New Guinea and the French territories

• Deltrex expecting modest growth with opportunities in the resources sector

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Reward Distribution Division

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Overview

	2012	2011	Change
Revenue	$123mn	$124mn	(0.6)%
EBITDA	$4.5mn	($0.6)mn	N.A.
EBIT	$3.7mn	($1.8)mn	N.A.
EBIT Margin	3.0%	(1.5)%	+450bps

• Significant turnaround from previous year

• Excluding discontinued New Zealand operations, revenue up 3.8% in Australia on previous year

• • Reduction in inventory

• Disposal of underperforming New Zealand operations

• Strong import program

• Increase in productivity and lower head count

• Successful rollout of The Hospitality Stores

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Outlook

• Further growth in revenue and margin in 2012-13

• Import program extended with broadening of owned brands

• Improved market conditions in mining and hospitality

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Organic Investment Paying Off

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Return on Equity CAPEX (AUD$mn)
28%
83
25%
72 71
23%
18%
50
14% 43
FY2008 FY2009 FY2010 FY2011 FY2012 FY2008 FY2009 FY2010 FY2011 FY2012
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Funding Strength

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Debt Maturity Profile

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200
76
Bank Bank Capacity USPP
160
135
120
123
116
92
80
40
29
0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Year
AUD $million
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Note: Gearing defined as Net Debt as a percentage of Net Debt plus Equity was 28% at the 31[st] March 2012

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