WORLEY LIMITED — Earnings Release 2016

Feb 9, 2017

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Level 12, 141 Walker Street North Sydney NSW 2060 Australia Telephone: +61 2 8923 6866 Facsimile: +61 2 8923 6877 worleyparsons.com WorleyParsons Limited ABN 17 096 090 158

10 February 2017

ASX Release

WORLEYPARSONS LIMITED (ASX: WOR)

Restatement of Operating Segment Information

Half Year ended 31 December 2015 and Full Year ended 30 June 2016

Effective 1 July 2016, WorleyParsons operations have been managed and reported through the following business lines: Services, Major Projects & Integrated Solutions and Advisian.

Services

To remove duplication of engineering activities and to provide single points of contact to our customers, Improve engineering only relationships and businesses have been moved into the Services business line.

Major Projects and Integrated Solutions

Improve integrated services relationships and opportunities became part of the Major Projects & Integrated Solutions Business Line, including operations and maintenance and full delivery engineer, procure and construction (EPC) relationships.

The Group has created a central Global Sales and Marketing function. Personnel conducting business development previously as part of the Major Projects business line are now included within Global Support.

In addition, the Group has redefined aggregated revenue to exclude pass-through revenue at nil margin.

The previously reported segment results for the half year to 31 December 2015 and full year to 30 June 2016 have been restated to be comparable with the revised segmentation approach as required by AASB 8 Operating Segments .

The restated 31 December 2015 and 30 June 2016 operating segment information by business lines and sector as a result of the aforementioned changes are outlined in Tables 1 and 2 and Tables 3 and 4 respectively.

Total EBIT for the Group and profit after income tax expense per the Statement of Financial Performance remain unchanged.

For further information please contact:

Mark Trueman

Director Planning and Investor Relations Ph: +61 2 8456 7256 investor.relations@worleyparsons.com

www.worleyparsons.com

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Level 12, 141 Walker Street North Sydney NSW 2060 Australia Telephone: +61 2 8923 6866 Facsimile: +61 2 8923 6877 worleyparsons.com WorleyParsons Limited ABN 17 096 090 158

About WorleyParsons: WorleyParsons delivers projects, provides expertise in engineering, procurement and construction and offers a wide range of consulting and advisory services. We cover the full lifecycle, from creating new assets to sustaining and enhancing operating assets, in the hydrocarbons, mineral, metals, chemicals and infrastructure sectors. Our resources and energy are focused on responding to and meeting the needs of our customers over the long term and thereby creating value for our shareholders. WorleyParsons is listed on the Australian Securities Exchange [ASX:WOR]

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TABLE 1: 31 DECEMBER 2015 BUSINESS LINE RESTATED RESULTS

Reported segment results
Services Major Projects Improve Advisian	Total	Services Major Projects and Integrated Solutions Advisian	Total
December 2015 $’M December 2015 $’M December 2015 $’M December 2015 $’M	December 2015 $’M	December 2015 $’M December 2015 $’M December 2015 $’M	December 2015 $’M
Revenue Professional services revenue 1,700.6 403.4 267.2 314.9 Construction and fabrication revenue 38.7 260.1 - - Procurement revenue at margin 135.0 13.5 0.5 31.3 Other income 2.4 - - -	2,686.1 298.8 180.3 2.4	1,862.0 447.2 316.7 - 298.8 - 121.6 27.4 31.3 2.4 - -	2,625.9 298.8 180.3 2.4
Total segment revenue 1,876.7 677.0 267.7 346.2	3,167.6	1,986.0 773.4 348.0	3,107.4
Segment result 113.8 55.9 11.9 33.0 Segment margin 6.1% 8.3% 4.4% 9.5% Global support costs Interest and tax for associates Amortization of acquired intangible assets	214.6 6.8% (50.8) (4.5) (9.1)	120.7 66.5 33.4 6.1% 8.6% 9.6%	220.6 7.1% (56.8) (4.5) (9.1)
Underlying EBIT	150.2		150.2
Underlying EBIT margin on aggregated revenue for the Group	4.7%		4.8%

Note: There was a reclassification of some consulting projects from Services to Advisian in the restatement of $1.8m in aggregated revenue and $0.4m at operating EBIT at the half year.

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TABLE 2: 31 DECEMBER 2015 SECTOR RESTATED RESULTS

Reported segment results		Restated segment results
Hydrocarbons Minerals, Metals & Chemicals Infrastructure	Total	Hydrocarbons Minerals, Metals & Chemicals Infrastructure	Total
December 2015 $’M December 2015 $’M December 2015 $’M	December 2015 $’M	December 2015 $’M December 2015 $’M December 2015 $’M	December 2015 $’M
Revenue Professional services revenue 1,845.0 368.8 472.3 Construction and fabrication revenue 298.8 - - Procurement revenue at margin 136.8 4.7 38.8 Other income 1.4 - 1.0	2,686.1 298.8 180.3 2.4	1,784.8 368.8 472.3 298.8 - - 136.8 4.7 38.8 1.4 - 1.0	2,625.9 298.8 180.3 2.4
Total segment revenue 2,282.0 373.5 512.1	3,167.6	2,221.8 373.5 512.1	3,107.4
Segment result 165.3 19.2 30.1 Segment margin 7.2% 5.1% 5.9% Global support costs Interest and tax for associates Amortization of acquired intangible assets	214.6 6.8% (50.8) (4.5) (9.1)	171.3 19.2 30.1 7.7% 5.1% 5.9%	220.6 7.1% (56.8) (4.5) (9.1)
Total Underlying EBIT	150.2		150.2
Underlying EBIT margin on aggregated revenue for the Group	4.7%		4.8%

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TABLE 3: 30 JUNE 2016 BUSINESS LINE RESTATED RESULTS

TABLE 3: 30 JUNE 2016 BUSINESS LINE RESTATED RESULTS
Reported segment results
Services Major Projects Improve Advisian	Total	Services Major Projects and Integrated Solutions Advisian	Total
June 2016 $’M June 2016 $’M June 2016 $’M June 2016 $’M	June 2016 $’M	June 2016 $’M June 2016 $’M June 2016 $’M	June 2016 $’M
Revenue Professional services revenue 3,081.7 778.5 512.0 599.9 Construction and fabrication revenue 85.7 475.9 - - Procurement revenue at margin 268.3 26.1 7.3 55.8 Other income 0.8 0.9 - -	4,972.1 561.6 357.5 1.7	3,386.3 813.7 605.1 - 561.6 - 243.7 58.0 55.8 0.8 0.9 -	4,805.1 561.6 357.5 1.7
Total segment revenue 3,436.5 1,281.4 519.3 655.7	5,892.9	3,630.8 1,434.2 660.9	5,725.9
Segment result 252.0 109.1 23.4 44.3 Segment margin 7.3% 8.5% 4.5% 6.8% Global support costs Interest and tax for associates Amortization of acquired intangible assets	428.8 7.3% (98.6) (8.3) (19.2)	265.9 127.6 45.7 7.3% 8.9% 6.9%	439.2 7.7% (109.0) (8.3) (19.2)
Total Underlying EBIT	302.7		302.7
Underlying EBIT margin on aggregated revenue for the Group	5.1%		5.3%

Note: There was a reclassification of some consulting projects from Services to Advisian in the restatement of $5.2m in aggregated revenue and $1.4m at operating EBIT at the full year.

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TABLE 4: 30 JUNE 2016 SECTOR RESTATED RESULTS

Reported segment results		Restated segment results
Hydrocarbons Minerals, Metals & Chemicals Infrastructure	Total	Hydrocarbons Minerals, Metals & Chemicals Infrastructure	Total
June 2016 $’M June 2016 $’M June 2016 $’M	June 2016 $’M	June 2016 $’M June 2016 $’M June 2016 $’M	June 2016 $’M
Revenue Professional services revenue 3,444.8 634.1 893.2 Construction and fabrication revenue 561.6 - - Procurement revenue at margin 259.6 8.4 89.5 Other income 0.9 - 0.8	4,972.1 561.6 357.5 1.7	3,277.8 634.1 893.2 561.6 - - 259.6 8.4 89.5 0.9 - 0.8	4,805.1 561.6 357.5 1.7
Total segment revenue 4,266.9 642.5 983.5	5,892.9	4,099.9 642.5 983.5	5,725.9
Segment result 329.0 39.9 59.9 Segment margin 7.7% 6.2% 6.1% Global support costs Interest and tax for associates Amortization of acquired intangible assets	428.8 7.3% (98.6) (8.3) (19.2)	339.4 39.9 59.9 8.3% 6.2% 6.1%	439.2 7.7% (109.0) (8.3) (19.2)
Underlying EBIT	302.7		302.7
Underlying EBIT margin on aggregated revenue for the Group	5.1%		5.3%

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