Company Update August 2014

FY14 | Highlights

Substantial transformation towards diversified operations

FY14 EBITDA (guidance) > $10.9 million

12-month share price return of >70%

Reduced competition in the resources sector

Acquisition strategy underway

Trading at a significant discount to industry peers

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FY 2014 Hi hli hts g g

• Solid revenue and strong profit growth

• EBITDA to exceed FY13 of $10.9 million

FINANCIAL

• Strong balance sheet to pursue acquisition strategy with cash post 30 June 2014 of approximately $15.0m and $8.2m Commonwealth Bank facility (undrawn at 30 June 2014)

CORPORATE & OPERATIONS

• Appointment of Simon Thomas (former BHP Billiton senior executive) as CEO of OTOC

• Contract extensions with Federal Government (Nauru) and Rio Tinto

• Completed restructure of Whelans and implemented measures to lift profitability

• Diversification strategy has enabled OTOC to record earnings growth despite subdued resources infrastructure market

STRATEGY

• Two-fold growth strategy to further expand and diversify OTOC’s revenue base:

• Organic growth: focus on government infrastructure, communications and facilities

• Acquisition strategy: targeting geographic expansion of surveying, town planning, and mapping business

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Cor orate Sna shot p p

Capital Structure

Share Price

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18.0 6.0
16.0
5.0
14.0
12.0 4.0
10.0
3.0
8.0
6.0 2.0
4.0
1.0
2.0
0.0 0.0
Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14
Volume (RHS) Share Price (LHS)
A$ cents
Million shares
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Note 1: Following receipt of a client approved project receivable Note 2: Comprises Hire Purchase liabilities

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FY2014 Earnings Guidance

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• Based on unaudited management accounts and current projections, OTC expects FY2014 EBITDA to exceed FY2013 EBITDA of $10.9 million.

• The Directors of OTC are pleased to report good profit growth in the context of subdued conditions in the resources sector.

• The key driver of this performance is improved operating margins on Construction projects through better internal controls, management systems and experienced management.

• Initiatives including government infrastructure and growth of Telecommunications have contributed to higher margins and a much greater degree of cost-plus contracts.

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$140 $12.0
$10.9
$120
$10.0
$100
$114.7 $8.0
$80
$6.0
$60
$4.0
$40
$2.0
$20
$0 $0.0
FY13 FY14
Revenue (LHS) EBITDA (RHS)
EBITDA
Revenue
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Source: OTOC Management

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Financial Performance by Division & Outlook

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OTOC

• OTOC Australia is expected to report strong EBITDA growth on lower revenue.

• Revenue growth driven by strong contribution from government infrastructure works at Nauru and expansion of remote telecommunications. EBITDA margins enhanced due to improved contract management.

Whelans

• Whelans lower revenue in resources market partially offset by an increased workload in the property development market. Major restructuring of Whelans performed during the year including closure of several regional offices.

Outlook

• Resource market improving with less risky cost-plus prospects appearing

• Government division outlook appears strong, with the prospect of expansionary work at Nauru

• Whelan’s outlook is positive post the restructure work which is now complete

• Good prospects to grow through acquisitions

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FY14 | Diversified Revenue Base Percentage %

FY2013 FY2014

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• Government, Communications and Facilities divisions (established in 2012 as part of diversification strategy) represented approximately 50% of annual revenue

• Approximately 50% of FY14 revenue was on a cost-plus basis (low risk)

• Reduced reliance on Resources Construction activity going forward

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Balance Sheet

• Strong operating cash flow has enabled OTOC to maintain a healthy balance sheet

• Cash expected to be $15 million following receipt of a client approved project receivable

• Commonwealth Bank facility is an endorsement of our business model and financial performance

• Balance sheet flexibility to fund organic growth and strategic acquisitions

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Diversification Strategy – Moving to Recurring Revenue

RESOURCES GOVERNMENT CONSTRUCTION CONSTRUCTION

COMMUNICATIONS

FACILITIES

SURVEYING

• Installation of mine site • Nauru Processing and remote area Centre infrastructure

• Specialised communications services for remote sites

• Remote facilities solutions

  • Surveying

  • Mapping

• Kitchen – 700 person

• • One of only handful of kitchen/diner facility companies accredited • 150 person kitchen with majors in N-W WA

• Incumbency at Nauru

• Town planning

• North-West WA

• Federal Government accreditations

• Resources

• Tier1 clients – RTIO, BHP, Roy Hill, FMG

• Civil infrastructure

• Off-shore construction

• • Mining and Oil & Gas experience

• Mobile kitchen, power generators, fuel tanks, water treatment plants

• Regional office network

• Strong brand

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• Appointment of Simon •
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• Assist clients seeking to •
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• Appointment of Simon • Ongoing variations • IT infrastructure and • Assist clients seeking to Thomas strengthens and new work at ongoing optimise capital OTOC’s relationships in Nauru communications expenditure and on this market balance sheet items

• Capitalise on strong Whelans brand and reputation

• Other infrastructure at • Upgrade mine sites from

• • New market entrants Nauru (power copper wiring to optic • Strategic acquisitions to retreating/reducing generation, remote fibre networks – large build out business

• • head count RTIO – brownfields communications, prison and Hospital • pipeline Nauru Comms. contract • Leverage client relationships and • Roy Hill (contract with upgrades) – first government remote services NRW) • WA Government related work expertise

• Enhance utilisation and profitability

• Mobile laser scanning

• Unmanned aerial surveying

• • Geographic expansion

• • Complementary products

• Greater oil & gas focus • Construction projects • NBN – onshore support in the Pacific

• bases (oil & gas)

• Maintenance and Life of Mine services

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Surve in Industr y g y

• The Surveying and Mapping Services industry is highly fragmented, comprising many small-scale firms contesting narrow geographic or specialist markets

• According to IBIS World, the industry consists of over 3,500 small businesses. The industry’s four largest companies account for less than 10% of annual industry revenue

• $3.4bn in industry revenue in the year ended 30 June 2013, forecast to grow by an annualised 1.4% over the five years to 2018-19 to $3.6 billion

• EBIT margins of ~14% in the year ended 30 June 2013, forecast to grow by an annualised 3.0% in the five years 2018- 19 to 15.0% of revenue

• The industry generates about 40% of its annual revenue from the provision of services to building companies and real estate property developers, with input from surveyors at most stages of the development and construction process.

• The recent upswing of investment into new housing construction has resulted in demand for building surveying on new housing subdivisions

Major Markets

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Mining
15%
Building &
Construction
40% Government and
Public Authorities
20%
Engineers &
Architects
25%
Revenue Growth
3.0%
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%
-0.5%
-1.0%
2012-13a 2013-14f 2014-15f 2014-15f 2015-16f 2016-17f 2017-18f
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Source: IBIS World

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Investment Hi hli hts g g

• Infrastructure services group with a diversified service offering and low-risk business model

• Successful execution of diversification strategy enabled stabilisation of revenue and earnings growth despite weak market conditions in resources

• Enhanced senior management team to manage growth and strengthen OTOC’s relationships in the surveying and resources sector

• Whelans better positioned to generate improved profitability and returns for shareholders

• Funding capacity and management team in place to pursue strategic acquisitions

• Focussed on opportunities to further diversify and enhance group earnings

• Low valuation metrics

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Group Overview

Grou Structure p

OTOC is an infrastructure services group

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Surveying Target Co
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Resources
Infrastructure
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Facilities
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Mining
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Oil and Gas
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Resources Construction

• OTOC Australia was formed in 2003 and has a successful track record of delivering turnkey infrastructure solutions for blue-chip clients in the mining and oil and gas sectors.

• Long term relationships with tier one customer base including Rio Tinto, BHP, Roy Hill and FMG.

• Non-process infrastructure has a lower risk profile compared with mining contractors.

• Recently completed the installation of accommodation units at Rio Tinto’s Brockman 4 Operations Village (Nammuldi).

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• Strong reputation and commitment to this market

• Appointment of Simon Thomas as CEO (ex-BHP Billiton)

• Roy Hill contract with NRW

• Opportunity to secure further work at this project

• Prospects at other resources projects into FY2014/2015

• New market entrants are retreating or reducing headcount and installation teams in the North-West, resulting in less competition in the $10-30m contract space

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Resources Construction | Case Studies

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Government Construction

• OTOC Australia has leveraged its remote construction ability to secure work in the Commonwealth Government construction sector. Diversifies OTOC’s earnings and order book and provides exposure to a significant sector.

• OTOC Australia was awarded an initial contract for Stage 1 of the Nauru Processing Centre.

• Government work to date exceeds $60.0 million.

• The Nauru contract provides OTOC Australia with off-shore construction experience, Commonwealth Government accreditations and an incumbent position at Nauru. Identified a number of near-term opportunities including;

• Nauru Expansion : ongoing variations and potential expansion of infrastructure

• Power and telecommunications infrastructure : submitted proposals with the Government of Nauru for a whole of island power solution (including installation of a new power station and green energy solutions) and installation of a fibre optic network

• Offshore construction : identified a number of opportunities at Nauru and other pacific nations associated with the “Implementation Plan for Energy Security in the Pacific” which suit OTOC’s remote construction capabilities

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Resources Construction | Oil and Gas

• OTOC Australia has the necessary experience and accreditations for oil and gas construction.

• OTOC Australia’s first oil and gas construction contract was BHP Petroleum’s Macedon accommodation village:

• $23.1m contract for the installation of 330 rooms and associated buildings

• Included the installation of concrete works, supply and installation of portable water storage and reticulation, fire water storage, sewer reticulation, earthworks, lighting and communications pits.

• Significant opportunities exist to secure further construction work for LNG and domestic gas developments:

• Large capital spend remains, potential developments include (i.e. Gorgon – 4[th] train, Wheatstone, Prelude FLNG, Scarborough FLNG, Browse FLNG, Pluto – 2[nd] train, Darwin – 2[nd] train, Sunrise FLNG, Bonaparte FLNG, Abadi FLNG)

• On-shore support bases for offshore fields and floating LNG best suit OTOC’s capabilities i.e. workshops, offices, helipads etc;

• Transit Worker Accommodation is a growing market – overnight accommodation for staff that arrive at the onshore camp and depart via helicopter the following day

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Communications

• OTOC Australia provides specialised communications services for remote sites. Service offering includes IT, network, data, internet and infrastructure management, telephony, video on demand, entertainment and help desk.

• Remote Communications is a strong-margin business, with only a handful of companies accredited with the majors to perform these services in the North-West.

• Current contracts typically range in value from $500,000 to $3.0 million with strong margins.

• Remote Communications has great synergy with Resources Construction i.e. once on-site, there are a large number of opportunities to be captured in the areas of IT infrastructure management and ongoing communications and data requirements.

• Upgrading mine sites from copper wiring to optic fibre networks provides a large pipeline of opportunities.

• Identified a number of opportunities to deploy our Communications expertise into diverse sectors inclusive of managed service contracts, lifestyle facilities and other off-shore infrastructure projects.

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Facilities

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OTOC Australia offers remote critical facility rental solutions in North-West Australia including:

• Accommodation camps

• Large commercial kitchens

• Power Generation stations

• Water treatment plants

• Water supply plants

OTOC sees this as a growth business as clients seek to reduce capital expenditure and move items off balance sheet.

Facilities Division generated EBITDA in excess of $2.0 million in FY2014.

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Whelans Australia

• Whelans is a leading Western Australian consultancy in the provision of surveying, mapping and specialist spatial services, and town planning.

• Diversified exposure across resources, civil and infrastructure projects, generating stable and reliable revenue.

• Top-tier private and public sector client base including Woodside, Water Corp, BHP, Rio Tinto and Main Roads. Repeat long term customers.

• Restructure of business undertaken during FY14 following appointment of New General Manager

• Current focus on improving utilisation levels and EBIT margins

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Disclaimer

This Document should not be considered as an offer or invitation to subscribe for or purchase any securities in OTOC Limited (“OTOC” or “The Company”) or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in OTOC should be entered into on the basis of this Document.

This Document contains high level information only and does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of OTOC and its prospects. Any forecasts and forward looking information contained in this Document are subject to risks and uncertainties and are not a guarantee of future performance. Actual performance will almost certainly differ from those expressed or implied.

OTOC makes no representation or warranty, express or implied, as to the accuracy, currency or completeness of the information presented herein. Information contained in this Document may be changed, amended or modified at any time by OTOC. OTOC is under no obligation to update any information or correct any error or omission which may become apparent after this Document has been issued.

To the extent permitted by law, OTOC and its officers, employees, related bodies corporate and agents (‘Associates’) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of OTOC and/or its Associates) for any loss or damage suffered by recipients of this Document or other persons arising out of, or in connection with, any use of or reliance on this Document or information contained herein. By accepting this Document, the recipient agrees that it shall not hold OTOC or its Associates liable in any such respect for the provision of this Document or any other information provided in relation to this Document.

Recipients of this Document must make their own independent investigations, consideration and evaluation of the information contained herein. Any recipient that proceeds further with its investigations, consideration or evaluation of the information described herein shall make and rely solely upon its own investigations and inquiries and will not in any way rely upon this Document. Recipients of this Document should not act or refrain from acting in reliance on material in this Document.

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Simon Thomas Chief Executive Officer Brian Mangano Chief Financial Officer Tel (08) 9317 0628