ALS LIMITED — Investor Presentation 2016

Oct 4, 2016

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ALS
Life Sciences
Commodities
Industrial
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Investor Presentation Hong Kong 5[th] & 6[th] October 2016

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All figures stated in AUD unless otherwise stated

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New Business – structure and end market focus

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ALS Strategic Assets

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Network
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A L S S t r a t e g i c A s s e t s

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Culture
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• 408 sites • quality • LIMS • state-of-the-art • people • 73 countries • timeliness • MIS • innovators • training • 6 continents • service • standardisation • standardisation • focus • global IT • innovation • systemisation • unique • client service network • technology • multi-language • centres of • communication • value • global excellence • passion

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ALS global locations – a strategic asset

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Strategic mix of revenue

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Group Strategy – geographies & markets

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FY16
FY11 revenue
FY06 revenue $1365mn
revenue $862mn
$212mn
Australia Asia South America North America
Africa Europe Middle East
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Environmental Food/Pharma Consumer Products Geochemistry Metallurgy Inspection Engineering Oil & Gas Coal Asset Care Tribology

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Strategic mix of revenue

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Debt Metrics

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Life Sciences poised for continued growth

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• Environmental • Food Safety
and Water
Specialized Increased and
and Complex Enforced
Testing Regulations
Public
Infrastructure
Awareness
and
and
Population
Consumer
Growth
Concern
• Consumer
Products • Pharmaceutical
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Significant opportunities available to ALS

Large Addressable Strong Growth Market Total: US$11bn Overall: 6% p.a. Environmental: US$4bn Environmental: 6% p.a. Food Safety: US$2bn Food Safety: 7% p.a. Pharma: US$5bn Pharma: 6% p.a.

Track Record of Growth Strong Returns Life Sciences FY07-16 Revenue CAGR: 16% Life Sciences ROIC 19% Environmental market share Life Sciences EBITDA margin 23% increased from 3% to 10% since 2006

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Fragmented Market

ALS Market Share Environmental: 10% Food Safety: 4% Pharma: <1%

Irreplicable Global Platform 400 sites 70 countries Global Network

Note: Company estimates

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Track record of growth – Life Sciences

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FY07

LOCATIONS	REVENUE	EBITDA	EBITDA%	ROIC
34	$165mn	$37mn	22%	13%

	FY 16	FY 16	FY 16	FY 16
LOCATIONS	REVENUE	EBITDA	EBITDA %	ROIC
155	$634mn	$145mn	23%	19%

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ROIC calculated as LTM EBIT / Total Invested Capital. Total invested capital calculated as reported segment assets minus segment liabilities.

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Leading market positions

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ALS Current Food and Environmental Market Share

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Canada Europe (Nordic Region,
Eastern Europe, and Iberia)
11%
19%
5%
25%
10%
UK
USA
35%
25%
Latin America
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Asia
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Australia
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Note: Company estimates of ALS market share of commercially available work for the services ALS currently offers

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Sustainable strong returns

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Historical Life Sciences ROIC[(1)]

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22% 23% 23%
20% 20% 19%
18% 18% 18%
16% 16% 16% 17% 17%
1H10 2H10 1H11 2H11 1H12 2H12 1H13 2H13 1H14 2H14 1H15 2H15 1H16 2H16
Historical Life Sciences Revenue and EBITDA Margin [[(2)]]
Revenue ($ millions) EBITDA Margin (%)
350 30%
300 25%
250
20%
Eurofins 19%
200 SGS 18%
15%
150 Intertek 15%
10%
100
50 5%
0 0%
1H10 2H10 1H11 2H11 1H12 2H12 1H13 2H13 1H14 2H14 1H15 2H15 1H16 2H16
Revenue EBITDA Margin
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Historical Life Sciences Revenue and EBITDA Margin[[(2)]]

1 ROIC calculated as LTM EBIT / Total Invested Capital. Total invested capital calculated as segment assets minus segment liabilities.

2 Intertek margin represents the Chemicals & Pharmaceuticals division, SGS margin represents the Life Sciences Services and Environmental Services divisions. Eurofins margin includes Corporate costs

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Mineral cycle at a trough

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Australian Mineral Exploration Spend (excluding iron ore & coal)

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600
53%
33%
decrease
decrease
500
400
46%
28%
decrease
300 27% decrease
decrease
200
100 GFC
Induced
7.5 years 9.0 years 11.0 years 3.2 years
0
AUD $millions
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Source: Australian Bureau of Statistics

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Platform well positioned to benefit from recovery

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Historical revenue and EBITDA margin for the Minerals and Energy segments (FY ending March)[1]

Laboratory Service Provider used for SNL Top Ranked Assay Drill Intersection Announcements 2014-2015[2]

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800 45.0%
600
30.0%
400 SGS 20%
Intertek 18%
BV 18% SGS 18%
Intertek 17% BV 16%
15.0%
200
0 0.0%
FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
Minerals & Energy Revenue Minerals & Energy EBITDA Margin
Minerals & Energy Revenue $ millions
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• Leading global platform leveraged to inevitable market recovery

• Enhanced by ongoing cost base management and service optimisation

1 Estimated EBITDA Margins for SGS, Intertek, Bureau Veritas are for Calendar Year 2015 and 2012 and refer to the Commodities segment for Intertek, the Commodities segment for Bureau Veritas and the Minerals and O&G & Chemicals Services segments for SGS. EBITDA is underlying EBITDA for all companies

2 SNL Top 10 Ranked Assay Targets for Copper, Gold, Lead, Silver and Zinc published in Quarterly SOTM reports

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Mineral cycle – are we past the bottom of the cycle?

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$CAD
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$AUD
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SNL Metals & Mining

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Mineral cycle – are we past the bottom of the cycle?

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minesite
brownfield
greenfield
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New Business – structure and end market focus

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