WORLEY LIMITED — Interim / Quarterly Report 2014

Feb 19, 2015

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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

20 February 2015

ASX Release

WORLEYPARSONS LIMITED

(ASX: WOR)

Restatement of Operating Segment Information

Half Year ended 31 December 2013

On 9 April 2014, WorleyParsons announced that effective 1 July 2014 it would reorganize into three business lines; Services, Major Projects, and Improve along with the establishment of a new Development Group.

The reorganization allowed for a more competitive cost structure by reducing corporate overheads and embedding elements of previously centralised global support services into the appropriate business lines, allowing each business to set the most efficient and appropriate mix of support costs to meet the needs of their respective customers.

The restated 31 December 2013 Customer Sector Group (CSG) segment results and margin have been reduced by the equivalent and offsetting reduction in previous global support costs that have been embedded into the business lines. Total segment revenue, underlying EBIT, EBIT margin on aggregated revenue for the Group, total underlying profit after income tax and profit after income tax expense per the Statement of Financial Performance remain unchanged.

The reported and restated 31 December 2013 operating segment information by CSG is outlined below.

below.
Reported segment results	Restated segment results
Hydrocarbons Minerals, Metals & Chemicals Infrastructure Total	Hydrocarbons Minerals, Metals & Chemicals Infrastructure Total
Dec 2013 $’M Dec 2013 $’M Dec 2013 $’M Dec 2013 $’M	Dec 2013 $’M Dec 2013 $’M Dec 2013 $’M Dec 2013 $’M
Revenue Professional services revenue 2,151.0 556.4 459.6 3,167.0 Construction and fabrication revenue 482.3 - - 482.3 Procurement revenue at margin 96.8 14.6 27.5 138.9 Other income 1.0 0.1 3.3 4.4	2,151.0 556.4 459.6 3,167.0 482.3 - - 482.3 96.8 14.6 27.5 138.9 1.0 0.1 3.3 4.4
Total segment revenue 2,731.1 571.1 490.4 3,792.6	2,731.1 571.1 490.4 3,792.6
Segment result 267.0 69.2 36.8 373.0 Segment margin 9.8% 12.1% 7.5% 9.8% Global support costs (178.7) Interest and tax for associates (5.5) Amortization of acquired intangible assets (10.6)	207.6 55.8 23.8 287.2 7.6% 9.8% 4.9% 7.6% (92.9) (5.5) (10.6)
Total underlying EBIT 178.2	178.2
EBIT margin on aggregated revenue for the Group 4.7%	4.7%
Net gain on revaluation of investments previously accounted foras equity accounted associates 11.4	11.4
Net borrowingcosts (31.5)	(31.5)
Income expense (38.3)	(38.3)
Profit after income tax expense per the Statement of Financial Performance 119.8	119.8

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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

The Group will commence to report on the performance of its business lines to reflect the reorganization of the Group in addition to the CSG segments results. The restated 31 December 2013 operating segment information by business lines is outlined below.

		Restated	segment results
		Major
	Services	Projects	Improve	Development	Total
	Dec	Dec	Dec	Dec	Dec
	2013	2013	2013	2013	2013
	$’M	$’M	$’M	$’M	$’M
Revenue
Professional services revenue	2,243.0	479.7	397.5	46.8	3,167.0
Construction and fabrication revenue	482.3	-	-	-	482.3
Procurement revenue at margin	114.0	17.2	5.3	2.4	138.9
Other income	4.4	-	-	-	4.4
Total segment revenue	2,843.7	496.9	402.8	49.2	3,792.6
Segment result	227.2	37.6	23.7	(1.3)	287.2
Segment margin	8.0%	7.6%	5.9%	(2.6%)	7.6%
Global support costs					(92.9)
Interest and tax for associates					(5.5)
Amortizationofacquiredintangible assets					(10.6)
Total underlying EBIT					178.2
EBIT margin on aggregated revenue for the Group					4.7%
Net gain on revaluation of investments previously accounted for as equity accounted
associates					11.4
Net borrowing costs					(31.5)
Income expense					(38.3)
Profit after income tax expenseper the Statement of Financial Performance					119.8

For further information please contact:

Fran van Reyk Investor Relations & Group Communications Ph: +61 2 8456 7256 investor.relations@worleyparsons.com

www.worleyparsons.com

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]