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Leading from the front Investor day M A Y 2 0 2 5 For personal use only
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Disclaimer Worley acknowledges and pays respect to the past, present and future Traditional Custodians of Country throughout Australia and extends this acknowledgement and respect to First Peoples in all countries in which we operate. Artwork “Tracks We Share” by Contemporary Indigenous Artist Lauren Rogers, for Worley. Stronger together The information in this presentation about Worley Limited, and the entities it controls (Group) and the Group’s activities is current as at 20 May 2025 and is in summary form and is not necessarily complete. It should be read together with the Company’s Appendix 4D, Interim Financial Report for the half-year ended 31 December 2024 and other announcements lodged with the Australian Securities Exchange. The financial information contained in the Interim Financial Report for the half-year ended 31 December 2024 has been reviewed, but not audited, by the Group’s external auditors. This presentation is not intended to be relied upon as advice to investors or potential investors. Investors should seek qualified advice before making investment decisions. This presentation contains forward-looking statements. Such statements may include, but are not limited to, statements regarding climate change and other environmental, energy and emissions reduction targets and transition scenarios. It also contains statements about expectations of energy consumption and related emissions, availability of lower emissions energy and power sources, future demand for Worley’s services, global market conditions, management plans, goals and strategies. The presentation also covers current expectations with respect to Worley’s business and operations, financial conditions and market practices, capital costs and scheduling and the availability, implementation and adoption of new technologies. Forward-looking statements can generally be identified by the use of words such as ‘forecast’, ‘estimate’, ‘plan’, ‘will’, ‘anticipate’, ‘may’, ‘believe’, ‘should’, ‘expect’, ‘intend’, ‘outlook’, ‘guidance’ and other similar expressions. These forward-looking statements reflect the Group’s expectations at the date of such statements. They are not guarantees or predictions of future performance or outcomes. They involve known and unknown risks and uncertainties, many of which are beyond our control and which may cause actual outcomes and developments to differ materially from those expressed in the statements. Factors that may affect forward-looking statements include legal and regulatory changes, technological changes, economic and geopolitical factors, including global market conditions and demand, and risks, including physical, technology and carbon emissions reductions risks. The Group cautions readers against reliance on any forward-looking statements or guidance. The Group makes no representation, assurance or guarantee as to the accuracy, completeness or likelihood of fulfillment of any forward-looking statement, any outcomes expressed or implied in any forward-looking statement or any assumptions on which a forward-looking statement is based. Except as required by applicable laws or regulations, the Group does not undertake to publicly update or review any forward-looking statements, whether as a result of new information or future events. This presentation may include non-IFRS financial information. The non-IFRS financial information is unaudited and has not been reviewed by the Group’s external auditors. Non-IFRS financial information should not be considered as an indication of or alternative to an IFRS measure of profitability, financial performance or liquidity. Authorized for release by Nuala O’Leary, Group Company Secretary. 2Worley - Investor Day 2025 For personal use only
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Worley – Investor Day 2025 Welcome Kylie Ramsden Group Director Investor Relations For personal use only
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Agenda 6. Financial discipline Tiernan O’Rourke Chief Financial Officer Justine Travers Deputy Chief Financial Officer (Incoming CFO) 2. Operations in focus Mark Brantley Group President, EMEA APAC Mark Trueman Group President, Americas 1. Growing shareholder value Chris Ashton Chief Executive Officer 5. Deploying digital Anup Sharma Executive Group Director, Digital 4. Technology Solutions Laura Leonard Group President, Technology Solutions 3. Strategy in action Andy Hemingway Executive Group Director, Growth S E S S I O N B R E A K Introduction Kylie Ramsden Group Director, Investor Relations Welcome Keynote speakers Q & A 4Worley - Investor Day 2025 For personal use only
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Worley – Investor Day 2025 Chris Ashton Chief Executive Officer Growing shareholder value Business update and strategic progressFor personal use only
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We’re focused on growing shareholder value and delivering long-term growth 6Worley - Investor Day 2025 • Worley continues to support our customers as they navigate a more challenging environment whilst building on the foundations which underpin long term growth. • We operate in a market experiencing significant transition and demand-led long-term growth momentum and are well positioned to take advantage of the opportunities this brings. • Our industry leading expertise and flexible workforce extends across geographies, sectors and traditional, transitional and sustainable work; we continue to build on our differentiated capability. • This strong competitive positioning and business diversification, together with commercial and financial discipline, ensures our business remains resilient through market cycles. • We are executing on our strategy to STRENGTHEN, EXPAND and INNOVATE to drive long term shareholder value. Well-positioned in a challenging landscape Leveraging our competitive advantage Disciplined strategic execution For personal use only
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Jan-23 Jan-24 Jan-25 Mar-25 We reconfirm our FY25 outlook targeting low double digit EBITA growth and EBITA margins (excluding the impact of procurement) between 8-8.5%. Venture Global Update • Engineering work for CP2 Phase 1 more than 90% complete. • Construction commencement expected middle of this year following anticipated FERC approval and FID. • Scope reduction earlier this year with VG managing some construction sub-contractors. • Majority of CP2 scope remains in the factored sales pipeline excluding engineering work already complete. Business update Backlog 37% 38% 47% 49% 10% 13% 15% 13% 53% 49% 38% 38% $13.3 $14.8 $12.7 $13.0 Dec-22 Dec-23 Dec-24 Mar-25 7Worley - Investor Day 2025 • Backlog is $13.0b as at 31-Mar-25, up from $12.7b at 31-Dec-24 +$300m Backlog increase since Dec -24 1. Open Factored Sales Pipeline for opportunities to be awarded in next 12mo. (y-axis scale differs between charts) 2. See page 44 of HY25 results presentation for backlog definition +14% Independent of Venture Global our factored sales pipeline has grown since Jan-25 Pipeline1 Independent of Venture Global Inclusive of Venture Global • 47% sole-sourced awards vs 40% pcp • 63% to be awarded in next 12 months vs 67% pcp • For volume reduction, see Venture Global update (see commentary on left panel of this slide) +14% Jan-23 Jan-24 Jan-25 Mar-25 TransitionalTraditional Sustainable For personal use only
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Traditional Transitional Sustainable • bp awards three-year extension to EPC contract in Oman • ADNOC Gas awards FEED for BGC gas processing facilities • Gulf Petrochemical awards framework agreement for PDO • Galfar Engineering awards framework agreement for PDO • OCP selects Worley Chemetics proprietary technology • DET awards Worley contract for Brunsbüttel LNG terminal • EPC for ExxonMobil’s low-carbon hydrogen project in USA • CBSR awards contract for expansion of renewable fuel complex • Rincon – Integrated Delivery Partner contract for lithium project in Argentina • GEH award to fabricate key system for small modular reactors (nuclear SMR) • Woodside awards Worley agreement extension for onshore assets in Western Australia 8Worley - Investor Day 2025 Strong bookings reflective of our resilience Strategic wins $9.4b Wins YTD as at 31-Mar-25 vs $9b at 31-Mar-24 FY24 FY25 FY24 FY25 Breakdown of year-to-date wins Our diversification is part of our competitive advantage Chemicals Resources Americas APAC 22% pcp 1. Refer to page 55 for our definition of sustainability-related work. Energy EMEA For personal use only
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We’re leading from the front Industry leader of energy, chemicals and resources experts Across the life cycle of our customers’ assets with end-to-end capability.Globally diversified expertise… supporting a world in transition… Leading positions across traditional, transitional and sustainable markets ~50,000 people, operating in over 45 countries 9Worley - Investor Day 2025 For personal use only
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We have a clear competitive advantage Market diversification & growth Deep customer relationships Commercial models & financial discipline Right people, right experience Technology, Digital & AI • Broader end-market exposure than peers and early mover in high-growth markets • Strong margins in both backlog and pipeline • Long-term partnerships built on trust and delivery • Deep industry expertise embedded in customer solution • Strong balance sheet and disciplined capital management • Liquidity to fund strategic growth • High proportion of professionals with transferable skills • Global footprint attracts and retains top talent • Proprietary technology via Comprimo and Chemetics • Agentic and GenAI, digitalization 10Worley - Investor Day 2025 For personal use only
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What drives us Purpose Strategy Values Our Life Rise to the challenge Unlock brilliance Stronger together Delivering a more sustainable world Strengthen leadership in core markets Expand into growth markets and along the value chain Innovate to unlock opportunities and efficiency Excellence in operational performance Prudent cost & capital management 11Worley - Investor Day 2025 For personal use only
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How we're creating shareholder value Our strategy Our enablers Strengthen leadership in core markets Expand into growth markets and along the value chain Innovate to unlock opportunities and efficiency • Help meet current and future energy, chemicals and resources demand • Deliver sustainable solutions for our customers 12Worley - Investor Day 2025 • Targeted focus in developing demand-driven markets • Extend our end-to-end project delivery capabilities • Transform how we deliver work • Develop digital and technology- driven solutions Global scale and reputation Strong customer relationships Our people and culture Investment in technology, digital and AI Operational excellence and efficiency Approach to safety and risk management Prudent capital management Commitment to sustainability For personal use only
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26% 12% 7% 12% 43% 24% 16% 8%11% 41% 32% 68% 40% 18% 42% 37% 13% 50% 30% 22% 48% We’re stronger today Since 2021, we’ve evolved into a more resilient, agile and future-ready business — expanding our reach and deepening our impact Sectors Traditional Transitional Sustainable 2021 Today1 Geographies Strengthened foundations Resources Energy Chemicals Traditional Transitional Sustainable Middle east & Africa Europe Americas Aust. & New Zealand Asia Financial discipline Capital position strength 1. Charts show the proportion of revenue between FY21 and FY24, for underlying data please refer to our broker toolkit, available at worley.com Revenue, earning, margin and diversification growth1 • Focused on countries with high growth opportunities • Strengthened core energy, chemicals and resources position and expanded into key growth areas • Broadened capabilities across our customers’ portfolios • Improved operational leverage and reduced net debt, creating a stronger financial foundation • Strong conversion of profit to cash and disciplined capital management 13Worley - Investor Day 2025 ESG performance • Delivering strong environmental, social and governance performance For personal use only
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World in context Our resilience is not reactive – it’s how we’re built why we’re resilient Recognizing the impact of global headwinds… • Proactive scenario planning • Working closely with our customers • Diversified across sectors and regions • Strong cost control and capital position • Strategic pivot to growth markets • Consistent results through cycles • Political and policy uncertainty • Tariffs and trade barriers • Market dynamics • Geopolitical tensions and shifting alliances • Rising energy, chemicals and resources demand • Energy transition and sustainability • Global GDP and population growth …whilst macro tailwinds endure 14Worley - Investor Day 2025 For personal use only
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We have a clear set of priorities driving value for our shareholders 15Worley - Investor Day 2025 Near medium term Operations reorganization Full-project delivery capability Margin growth and cost management Shift towards a more agile structure to extend full-project delivery Early-stage consulting to process technology to full delivery Rigorous attention to margin growth and cost efficiencies Deploying digital Rapid development of gen-ai and advanced computing to capture opportunities GID growth Drive operational efficiency, value creation and innovation For personal use only
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Worley – Investor Day 2025 Operations in focus Mark Brantley Group President EMEA APAC Mark Trueman Group President Americas For personal use only
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17 Our global footprint 17Worley - Investor Day 2025 12,000+ active projects ~50,000 people 45 countries For personal use only
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18Worley - Investor Day 2025 Regional updates 35% 27% 19% 26% 46%47% - 1 2 3 4 H1 FY25H1 FY24 $b 5% ResourcesEnergy Chemicals Aggregated revenue 13.1% Segment margin excl. procurement H1 FY25 Asia Australia & New Zealand Europe & Central Asia Middle East & Africa Change in pipeline4 since HY25 14%14% 32%41% 54%45% - 1 2 3 H1 FY25H1 FY24 $b 9% Aggregated revenue H1 FY25 11.0% Segment margin excl. procurement ResourcesEnergy Chemicals Change in pipeline4 since HY25 Canada Latin America United States Regional updates EMEA/APAC AMERICAS 1. Factored for the likelihood of the project proceeding and being awarded to Worley 2. Backlog definition provided on page 44 of HY25 results presentation 3. Refer to page 55 for our definition of sustainability-related work 4. Delta represents change in total open pipeline between HY25 (Jan-2025) results through March 2025 General note: Scales across graphs are different For personal use only
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Operationalizing our strategy Excellence in operational performance Prudent cost & capital management ✓ Margin improvement continues to flow from pipeline to backlog to revenue ✓ Focus on project assurance and delivery excellence ✓ Continued focus on lower risk contract styles ✓ Continued strong cash performance ✓ Debt and bonding facilities provide confidence for our customers in awarding Worley large scale projects ✓ Expanding GID and focusing on project cost control ✓ Talent attraction and retention ✓ Risk and quality management through centralized project services and standardized quality systems ✓ Cross-regional customer and sector diversification ✓ Regional capability scaling to support full-service delivery ✓ Optimized resource planning including investing in capability uplift ✓ Scaling digitally-enabled project delivery ✓ Leveraging Worley Consulting to drive down levelized costs ✓ Deploying and piloting digital solutions including Gen AI and Agentic AI Expand into growth markets and along the value chain Strengthen leadership in core markets Innovate to unlock opportunities and efficiency 19Worley - Investor Day 2025 For personal use only
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Our customers in focus ~50% of our revenue comes from our top 10 multinational customers Project highlight Enhancing energy security Brunsbüttel LNG Terminal - Germany Phase 2 of the FSRU terminal follows DET’s successful completion with Worley of Phase 1, which integrated LNG into Germany’s energy grid during the European winter of 2022–23. This significant LNG project enhances Germany’s energy security and advances its transition to a lower carbon future. We are pleased to build on our existing partnership with DET, demonstrating our project delivery capability across a wide range of project requirements, extending from engineering and procurement to this Phase 2 scope for construction, installation and commissioning. 20Worley - Investor Day 2025 90% of our top 20 customers have NetZero commitments We’re partnering with our long-term customers and building relationships with new and emerging customers in growth markets. We have a solid customer base, many of whom are well-capitalised global organisations Our customers’ decisions reflect the strategic shifts we’re seeing in our markets: • Rebalancing portfolios to support energy, chemicals and resources security and affordability • Concentrating capital on more selective, high-return projects with strong resilience • Prioritizing scalable transition technologies like LNG, CCUS, and energy efficiency • Increasing focus on localised supply chains and regional project delivery For personal use only
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EMEA/APAC Regional leadership perspectives Mark Brantley Group President EMEA/APAC Across EMEA and APAC, we're supporting customers who hold a range of different strategies. Some are pausing after early net zero commitments, while others are advancing decisively with long-term, self-funded programs. Uncertainty around tariffs and supply chains is real, but well-capitalized players are pressing ahead. Our role is to provide confidence and delivery certainty in a fragmented, complex environment. . AMERICAS Mark Trueman Group President Americas The Americas market is showing strength particularly with oil and gas majors rebalancing their investments. We're seeing momentum build in traditional and transitional energy projects including LNG projects in the US, supported by resilient capital spending and our ability to adapt quickly. Some customers are pausing to reflect — and we're well-positioned to support them as and when they move forward." . . 21Worley - Investor Day 2025 For personal use only
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Worley – Investor Day 2025 Andy Hemingway Executive Group Director, Growth Strategy in action Drivers of growth over the short, medium and long termFor personal use only
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How we're creating shareholder value Our strategy Strengthen leadership in core markets Expand into growth markets and along the value chain Innovate to unlock opportunities and efficiency • Help meet current and future energy, chemicals and resources demand • Deliver sustainable solutions for our customers 23 • Targeted focus in developing demand-driven markets • Extend our end-to-end capabilities and full-project delivery • Transform how we deliver work • Develop digital and technology- driven solutions Worley - Investor Day 2025 For personal use only
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We have conviction in our strategy Macro trends Market size and growth Leading indicators Consistent results $ Long term Medium term Result trends • Revenue • Earnings • Margin Data supports confidence in our: Purpose Strategy development / key growth markets Strategy execution / ability to win Project delivery / Operational excellence Near term Pipeline Bookings Backlog 24Worley - Investor Day 2025 For personal use only
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We’re positively leveraged to macro trends Macro trends Market size and growth Leading indicators Consistent results $ 0 200 400 600 800 2020 2021 2022 2025 2030 Dec-21 May-24 0 500 1,000 1,500 2,000 Advanced Developing 2023 APS NZE 0 200 400 600 800 2023 APS NZE 2023 2030 2040 Upstream Oil & Gas capex forecast revisions1 Clean energy investment by Advanced and Developing ecomonies2 Market value of key energy transition minerals by IEA scenarios3 Billion USD 4 4Billion USD 1. IEF, S&P Global Commodities Insights, International Energy Forum: Upstream Oil and Gas Investment Outlook 2024 2. IEA World Energy Outlook 2024, APS and NZE represent 2035 forecasts, includes solar and wind which are not strategic markets for Worley 3. IEA Global Critical Minerals Outlook 2024 4. APS - Announced Pledges Scenario; NZE – Net Zero Emissions (scenarios from IEA – International Energy Agency) Billion USD 25Worley - Investor Day 2025 For personal use only
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We’re capitalizing on market opportunities Market size and growth Leading indicators $ Macro trends $1.3 Total market1 1. Global figures shown, excluding China and Russia. Figures shown are estimates and are based on third-party sources including S&P IHS Markit, Rystad, Wood Mackenzie, BNEF, and should be regarded as indicative only. 2. CAGR figures reflect a selection of higher-growth geographies / segments within the subsectors where Worley operates. They should not be interpreted as an aggregate market view. Only a selection of markets shown, please see slide 26 for the portfolio of subsectors where we operate. 3. Energy market size excludes renewables and power network markets. 4. Estimated based on projected CAPEX in diversified mining markets, including Energy Transition Materials, as well as other materials and metals. Figures excludes iron ore mining. 5. Estimated based on projected CAPEX growth in Fertilizer production markets. Energy3 Chemicals Resources Market size1 (2025) $625b+ $300b+ $325b+ 2025 Indicative growth in select markets2 (CAGR 2025-2028) 2% 7% 5% 5% Oil Petrochemicals Energy transition materials4 Integrated gas Specialty chemicals Fertilizers5 Consistent results 26Worley - Investor Day 2025 trillion 5%4% For personal use only
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Energy transition minerals Combustion energy Nuclear SMR Oil Refined fuels Specialty chemicals Chemicals FertilizersBulk commodities Precious metals Resource infrastructure Midstream energy infrastructure Integrated gas Low-carbon fuels Plastics recovery Sulphur recovery and re-use Low-carbon hydrogen Networks and energy storage WaterBattery materials S8 Mature Chemicals Resources Renewable energy Petrochemicals Energy Developing Power to X Ammonia / Methanol Direct Air Capture Carbon capture (Cross sector capability) 27Worley - Investor Day 2025 Underpinned by: Geographic presence Focused on countries with high growth opportunities Customer base Strong relationships with highly reputable and quality customers that share our values Value chain exposure Broad engagement across the value chain, enabling early insights and full-project delivery Where we play For personal use only
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28Worley - Investor Day 2025 We have strong internal leading indicators Consistent results $ Macro trends Market size and growth Leading indicators Pipeline 1,2 BacklogBookings3 -11% 43% 33% 1. Factored sales pipeline: comparison of expected opportunities to be awarded in next 12 months 2. Excludes Venture Global opportunities 3. Comparison of bookings through the first 10 months of FY24 and FY25 Current (May-25) Sustainable Transitional Traditional Energy Chemicals Resources FY24 FY25 22% FY24 (Jul-24) vs. Energy Chemicals Resources HY25 Mar-25 +$300m For personal use only
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Our results validate our strategic focus Consistent results $ Macro trends Market size and growth Leading indicators 233 269 345 376 H1 FY22 PF H1 FY23 PF H1 FY24 H1 FY25 17% CAGR H1 FY22 PF to H1 FY25 +1.9 pp H1 FY22 PF to H1 FY25 Sustainability-related revenue $m $m 16% CAGR H1 FY22 PF to H1 FY25 EBITA % excl procurement 3,836 4,599 5,610 5,989 H1 FY22 PF H1 FY23 PF H1 FY24 H1 FY25 38% 43% 51% 58% 6.5 7 7.5 8.4 H1 FY22 PF H1 FY23 PF H1 FY24 H1 FY25 Aggregated revenue EBITA EBITA % excl. procurement Normalized cash conversion 0% 20% 40% 60% 80% 100% 120% H1 FY 22 PF H2 FY 22 PF H1 FY 23 PF H2 FY 23 PF H1 FY 24 PF H2 FY 24 PF H1 FY 25 PF Trendline Cash conversion % H1 FY22 PF H1 FY23 PF H1 FY24 H1 FY25 H1 FY22 PF H1 FY23 PF H1 FY24 H1 FY25 H1 FY22 PF H1 FY23 PF H1 FY24 H1 FY25 H1 FY22 PF H1 FY23 PF H1 FY24 H1 FY25 0% 20% 40% 60% 80% 100% 120% H1 FY22 PF H1 FY23 PF H1 FY24 H1 FY25 Trendline Cash Conversion 29Worley - Investor Day 2025 For personal use only
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Our priorities are aligned with our strategy to drive value across the lifecycle of our customers’ assets Our priorities Concept EPC/EPCM Optimize FEED / Engineering Remediate Asset lifecycle Delivery: execution, integration & construction Consulting: strategy, advisory, digital & environment EPC / EPCM Operations reorganization Full-project delivery capability (including Growing Consulting and Process Technology) Margin growth and cost management Deploying digital GID growth 30Worley - Investor Day 2025 1. FEED – Front end engineering design; EPC: Engineering, Procurement and Construction; EPCM: Engineering, Procurement and Construction Management For personal use only
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Worley – Investor Day 2025 Technology solutions Progress on our Build, Buy, Partner program Laura Leonard Group President Technology Solutions For personal use only
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Expanding our Process Technology portfolio 32Worley - Investor Day 2025 Our proprietary solutions deliver value through: Technology licenses Proprietary equipment & catalysts EPF1 delivery Engineering packages Lifecycle services Our brands 1. EPF – Engineer, Procure, Fabricate New customer demands and emerging markets drive opportunities for innovative process technology Blending a Build, Buy, and Partner philosophy to grow a strategic mix of established and emerging technologies Our strategic approach Demand driven innovation For personal use only
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Enhancing our competitive advantage across the value chain Concept EPC/ EPCM Optimize FEED/ Engineering Remediate Asset lifecycle Strategically aligned and differentiated Enhance our capability and grow market share AccelerateDifferentiate Broaden Why we’re confident in our Process Technology Solutions: 1 2 3 Implement emerging technologies at pace Our differentiated Pseudo Dry Gas1 Technology broadens the value we deliver to our customers 1Pseudo Dry Gas a series of subsea, inline, piggable devices that enable the economic development of gas discoveries at step-out distances of up to 300km, almost double what can be achieved with conventional approaches with lower capital cost & lower emissions when compared to subsea compression. For personal use only
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Accelerating the scale-up and scale-out of emerging technologies from: Technology Scaling as a Service We’re partnering to position Worley in emerging technologies Pilot Plant Local impact Global impact Commercial Plant 34Worley - Investor Day 2025 For personal use only
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Energy transition minerals Combustion energy Nuclear SMR Oil Refined fuels Specialty chemicals Chemicals FertilizersBulk commodities Precious metals Resource infrastructure Midstream energy infrastructure Integrated gas Low-carbon fuels Plastics recovery Sulphur recovery and re-use Low-carbon hydrogen Networks and energy storage WaterBattery materials S8 Mature Chemicals Resources Renewable energy Petrochemicals Energy Developing Power to X Ammonia / Methanol Direct Air Capture Carbon capture (Cross sector capability) Where we play We are cultivating relationships with emerging technology companies in strategically aligned subsectors 35Worley - Investor Day 2025 For personal use only
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Worley – Investor Day 2025 Deploying digital Progress on our digital solutions, including AI Anup Sharma Executive Group Director, Digital For personal use only
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Re-imagining speed to value Our digital engine for growth 37Worley - Investor Day 2025 Building on Worley’s decades of deep industry knowledge powered by our technology partners to transform our digital offering and scale Boost Worley's efficiency and accelerate project delivery across 12,000 projects De-risk Improve Capital efficiency and drive cost out across Customer Value Chain while de- risking projects Revolutionise asset design, build & operation…Real time optimisation through asset lifecycle For personal use only
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Enhancing our digital advantage Secure by design improved margins top line growth supercharge our people • Boosting capital efficiency Lower project costs and improved ROI • Accelerating project delivery Faster time to market and earlier revenue generation • Scaling workforce productivity Access to more capacity and expertise without added headcount • Enhancing safety and risk management Fewer incidents, more resilient operations • Growing digital revenue streams Integrated, tech-enabled delivery solutions tailored to their needs • Strengthening competitive advantage Confidence in delivery partner with future-ready capabilities Foundational elements of the impact we provide How we drive impact for our stakeholders 38Worley - Investor Day 2025 For personal use only
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Delivering measurable outcomes Driving impact across OCP’s value chain We are enabling end-to-end visibility, efficiency, and coordination across OCP’s value chain leveraging data-driven decision-making and digitally empowered operations. Mine Manufacture Port Farmer • Improved asset productivity and operational efficiency • Reduced cost of beneficiation through better planning and resource use • Scalable digital foundation for long- term mine optimization • Lower total cost of ownership through optimized production and asset performance • Increased throughput and reduced downtime across plants • Standardized digital processes for consistent, scalable operations • Reduced vessel turnaround time and demurrage costs • Increased loading efficiency and dock utilization • Integrated planning for minimized logistics disruptions and better cost control • Strengthened supply reliability and service levels to end customers • Better alignment of production to demand, reducing waste and cost • Enhanced transparency and traceability across the product lifecycle 39Worley - Investor Day 2025 For personal use only
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40Worley - Investor Day 2025 Recently deployed solutions through our Advanced Development Lab Value add: Drives accelerated and consistent Technical Bid Evaluation through AI-powered vendor analysis and comparison Value add:Reduces delays in project delivery through AI-powered detection and extraction of holds in engineering documents Value add:Boosts productivity with AI- powered search to provide clear, fast answers from Worley’s proprietary data and engineering knowledge base AI.VendorSelect AI.HoldsFinder AI.Assist We build AI for impact Powered by data. Driven by technology. Harnessed by our people. Value add: Transforms how we respond to customer queries and prepare Expressions of Interest (EOI) for prospective work –enabling our Sales team to produce more succinct EOI responses much faster than before. Smart Response Generator For personal use only
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Worley – Investor Day 2025 Tiernan O’Rourke Chief Financial Officer Justine Travers Deputy Chief Financial Officer (Incoming CFO) Financial disciplineFor personal use only
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We’ve set solid foundations 42Worley - Investor Day 20251. All forward looking statements, including the FY25 Group outlook, remain subject to no material deterioration in current market conditions. See page 2 for more information. Capital sourcing Capital management We’re focused on investments that are aligned with our strategy and will deliver accretive returns such as Technology Solutions and niche bolt-ons aligned with key growth areas Maintain leverage at or below 2.0x High conversion rate of income to free cash flow Maturity profile improvement and new debt transaction Investment grade S&P rating Capital deployment Investing for growth but remaining capital light Capital returned via dividends and buybacks Active portfolio management including divestments Cash generative Low capital intensity Investing for growth Debt / liquidity management Earnings and margin expansion For personal use only
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New work being won at higher margins Operational leverage and business productivity Capital productivity and further upside Building blocks to higher margin ✓ Focus on high value solutions – sharing in the value we bring to our customers ✓ Margin improvement continues to flow from pipeline 1 to backlog to revenue ✓ Sole-sourced contract win 47% vs 40% on pcp ✓ Productivity2 continues to improve (+13% on pcp) ✓ Professional services headcount steady ✓ Project work through GID ✓ Formation of responsible AI council, building a unified AI governance framework ✓ Application of ~100 automation tools ✓ Investment in organic growth, focus on investments that yield accretive returns ✓ Risk-adjusted returns ✓ Maintaining attractive contract terms and conditions ✓ Active portfolio management Gross margin trend3 ✓ Trend indicates that new work is being won at higher margins ✓ Project mix, rate improvements and managing cost base are all factors contributing to improved earnings growth at a higher rate than revenue factored sales pipeline backlogJan-23 Jan-24 Jan-25 1. Total open pipeline, factored for likelihood of project proceeding and being awarded to Worley. 2. Productivity factor calculated as underlying EBITA / Total headcount, as at HY2025. 3. Median gross margin % trend (excluding procurement). Margin improvement driven by deliberate strategic actions 43Worley - Investor Day 2025 For personal use only
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Capital management principles Our capital management architecture supports our growth plans with good liquidity, the maintenance of a strong credit rating and access to well-priced debt capital Operating productivity Capital productivity Minimum liquidity target 85-95% target cash conversion Free cash flow Net debt reduction Buy backs Organic investmentAcquisitions Strong balance sheet Lease Payments Maintenance Capital Proceeds from divestments Dividends Continued focus on… • Robust cash management processes • Achieving cost efficiencies • Ongoing margin improvement • Global systems integration • Strategic portfolio management • Balance sheet strength as a competitive advantage 44Worley - Investor Day 2025 Update on the Buy back program Worley commenced purchasing shares on 17 March 2025. As at 7 May 2025, Worley has purchased around 8 million shares at an average price of $12.69, for a total consideration of A$101.6 million (excluding broker fees). For personal use only
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Worley – Investor Day 2025 Closing remarks Chris Ashton Chief Executive Officer For personal use only
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We have a clear set of priorities driving value for our shareholders 46Worley - Investor Day 2025 Near medium term Operations reorganization Full-project delivery capability Margin growth and cost management Shift towards a more agile structure to extend full-project delivery Early-stage consulting to process technology to full delivery Rigorous attention to margin growth and cost efficiencies Deploying digital Rapid development of gen-ai and advanced computing to capture opportunities GID growth Drive operational efficiency, value creation and innovation For personal use only
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Outlook The outlook presented at H2 FY25 results1 remains consistent with what we’re expecting for FY25, subject to no further deterioration in current market conditions 1. All forward looking statements, including the FY25 Group outlook, remain subject to no material deterioration in current market conditions. See page 2 for more information. 47Worley - Investor Day 2025 • We continue to operate in an evolving geopolitical and macroeconomic environment. • We're confident that as a well-diversified business with strong financial stability, we are well positioned and have agility to adapt our business to current market conditions. • We are staying close to our customers and supporting them through this period of uncertainty. • We reconfirm our outlook expectations for FY25 targeting low double digit EBITA growth and expect the underlying EBITA margin (excluding the impact of procurement) to be within a range of 8.0-8.5%. For personal use only
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& 48Worley - Investor Day 2025 & For personal use only
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Supplementary information 49Worley - Investor Day 2025 For personal use only
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Project wins • Total number of sustainability-related wins YTD in FY25 is up on FY24 • We continue to win a significant number of early-phase projects in traditional and sustainability-related work2 1. Refer to page 55 for our definition of sustainability-related work. 2. Number of wins for sustainability-related projects sorted by project phase. Number of wins in different project phases for sustainability-related1 work YTD in FY25 vs FY24 The fan depicts the work we do across all phases within our sustainability- related sub-sectors. As projects progress through later phases, the project size increases significantly. Low-carbon hydrogen Chemicals Early phases 0 0.25 0.5 0.75 1 Q1 FY25 Q2 FY25 Q3 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Feasibility FEED Detailed design Construction & commissioning Operations & maintenance Sustainability-related1 work Traditional work Number of wins in different project phases as a percentage of total Wins by project phase Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Operations and maintenance 24 15 24 17 18 11 18 12 15 Construction and commissioning 92 74 61 56 77 84 33 33 33 Detailed design 297 148 252 139 200 239 123 105 147 FEED 198 189 171 151 171 155 147 162 130 Feasibility 437 404 406 412 337 349 127 120 126 Total wins 1,048 830 914 775 803 838 448 432 451 50Worley - Investor Day 2025 FY25 FY24 FY25 Sustainability-related wins Traditional wins For personal use only
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61%14% 25% Professional services Construction & fabrication Procurement Type of services (%) Contract type aggregated revenue (%) Reimbursable Fixed price Regional aggregated revenue (%) Americas Europe Middle East & Africa Asia Australia & New Zealand A global leader delivering knowledge-based project and asset services • Leading position in energy, chemicals and resources • Positioned to benefit from the energy transition shift Global earnings base and broad end markets provides diversification and resilience • High-value solutions across the full life cycle • Low-risk commercial models • Around half of our fixed price work is in advisory and consulting services Sector aggregated revenue (%) Sustainable1 | Transitional | Traditional aggregated revenue (%) 24% 27% 49% 41% 21% 22% 7%9% 82% 18% 1. Refer to page 55 for our definition of sustainability-related work. 25% 17% 6% 14% 1% 10% 3% 24% Energy Chemicals Resources Transitional Traditional SustainableChemicals Energy Resources 51Worley - Investor Day 2025 Our diversified businessFor personal use only
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Energy Today’s landscape Key themes driving change • US policy shifts causing near-term demand swings; medium-term oil stable • Gas remains key for energy security and emissions reductions. LNG growth continues • Customers shifting spend to higher-return projects, and sometimes away from the ET • Decarbonization fundamentals strong, despite US (and IOCs) softening on net zero • Clean energy faces cost and funding hurdles; renewables becoming cheaper • Electricity demand rising with EVs, data centres, and industry • Grid upgrades, gas-to-power, nuclear and storage needed for flexibility • Power grid infrastructure and new generation undergoing change due to increasing power demands Why we’re confident Our strategic differentiation • Early moves into growth markets (e.g. low- carbon, grids) • Applying skills in adjacent areas (e.g. CCS for cement) • Strong grounding in conventional markets as customer re-pivot • Agility to pivot into high-demand sectors (e.g. gas-to-power) • Long-term customer contracts and strong relationships • Flexible workforce adapting to changing work mix • Focus on project efficiency and faster delivery Highlights 60 active gas / LNG projects globally 100k + kilometers of pipelines delivered 70% market share of global H2S and deployed sulphur removal technologies 52Worley - Investor Day 2025 For personal use only
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Chemicals Today’s landscape Key themes driving change Why we’re confident Our strategic differentiation Highlights 85+ Low carbon fuels projects completed Supporting 9 of the top 10 global chemical companies 900+ Petrochemicals projects complete • Decarbonizing chemical operations with major customers. • Strong customer relationships despite market headwinds. • Focused on low-carbon fuels and new production pathways. • Growth in sustainable fuels and green ammonia projects. • Strong Middle East and North America positioning. • Demand rising with energy transition and population growth. • Middle East and North America investing in feedstock advantage. • Refined fuel demand expected to decline over time. • Regulations pushing decarbonization investment. • Ammonia, methanol emerging as key low- carbon fuels. • Growing focus on green chemicals and gas- to-chemicals. • Direct Air Capture gaining industry support • Sustainable aviation fuel (SAF) gaining momentum as airlines and regulators target emissions. 53Worley - Investor Day 2025 For personal use only
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Resources Today’s landscape Key themes driving change • Transition metals demand driving strong fundamentals. • Short-term volatility from supply and inflation pressures. • Long-term copper and aluminum demand surging. • Large, diversified miners best positioned for capital. • Customers focusing on high-margin commodities and modernization. • Rising government interventions reshaping investment flows. • Population growth and urbanization continues to drive demand for mined fertilizers. Why we’re confident Our strategic differentiation • Right capabilities, markets, and customers. • Working with fastest-moving investors. • Early project wins securing delivery pipeline. • Established delivery partner having delivered EPC / EPCM projects across 6 continents for over 40 years Highlights Over $4B in awards in mined fertiliser projects and growing pipeline 120+ energy transition minerals project win in FY25 Over $30B of TIC projects currently under our study management 54Worley - Investor Day 2025 For personal use only
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How we define our sustainability-related work We categorize our overall sustainability-related as the sum of Sustainable work and Transitional work. The combination of market segment and solution is used to determine how we categorize the work. We refer to all work falling outside of sustainability-related group (Sustainable + Transitional) as Traditional. Notable exceptions: • Coal is categorized as Traditional • CCUS applied to oil sands operations is categorized as Transitional. All other oil sands is Traditional. • Sulphur recovery solutions are classified as transitional The combination of market and solution is used to determine the type of work. We refer to all work falling outside of sustainability-related groups as Traditional Established solutions4 Transformative solutions5 Traditional market segments1 Traditional work Transitional work Transitional market segments2 Transitional work Sustainable work Sustainable market segments3 Sustainable work Sustainable work Sustainability-related work Examples include: 1. oil, chemicals, petrochemicals, refined fuels and traditional technologies for bulk commodities 2. integrated gas, waste to energy (gasification), waste to chemicals (pyrolysis) 3. hydrogen (blue, green), renewable energy, energy transition materials, crop nutrients, direct air capture, networks and energy storage, nuclear energy, low-carbon fuels, water 4. Core offerings such as process plant, pipelines, mine development, offshore and subsea structures, facilities, terminals, and tailings dams 5. Offerings that improve sustainability outcomes such as recycling, carbon capture, utilization and storage (CCUS), electrification and energy efficiency, and desalination 55Worley - Investor Day 2025 For personal use only
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Glossary $, $m, $b – Australian dollars unless otherwise stated, Australian millions of dollars, Australian billions of dollars APAC - Australia, Pacific, Asia & China CAPEX - Capital expenditure CCUS - Carbon Capture, Utilization and Storage CDP - Carbon Disclosure Project CO2 - Carbon Dioxide CPS - Cents Per Share DSO - Days Sales Outstanding EBITA - Earnings Before Interest, Tax and Amortization on acquired intangibles EBITDA - Earnings Before Interest, Tax, Depreciation and Amortization on acquired intangibles EMEA - Europe, Middle East & Africa EPC – Engineering, Procurement, Construction ESG - Environmental, Social, and Governance EU - The European Union FEED - Front-end engineering design FID – Final Investment Decision FX - Foreign Exchange FY – Financial Year GID - Global Integrated Delivery gm – Gross margin GST - Goods and Services Tax H1/H2 – First half of the financial year/second half of the financial year IFRS - International Financial Reporting Standard k – thousand LNG - Liquefied Natural Gas LSTK – Lump Sum Turnkey MSCI - Morgan Stanley Capital International NPAT - Net Profit After Tax NPATA - Net Profit After Tax excluding Amortization on acquired intangibles O&M - Operations & Maintenance OPEX - Operating expenditure PBTA – Profit Before Taxation and Amortization PCP - Prior Comparative Period PF – Proforma excludes the divested North American Turnaround and Maintenance business PP - Percentage Points SDGs - Sustainable Development Goals UK – United Kingdom US - United States Sustainability Encompasses those elements of our environmental, social and governance (ESG) performance. It also refers to our activities su pporting our customers to meet sustainability objectives on their projects. As part of our Ambition, we provide disclosures on sustainabil ity-related work. Lower carbon Lower carbon denotes methodologies and technologies that effectively reduce carbon emissions and mitigate the discharge of gr eenhouse gases, thereby fostering environmental sustainability and combatting climate change. Horizons Short term (1 to 2 years) Our short-term horizon on the immediate financial planning period. Medium term (2 to 5 years) Our medium-term horizon is focused on our strategic business plan in line with our ambition. Long term (5 to 10 years) Our long-term horizon is focused on global trends and our net-zero aspirations. 56Worley - Investor Day 2025 For personal use only
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worley.com worley.com Registered office: Level 19, 420 George Street Sydney NSW 2000 Australia T: +61 2 8923 6866 E: investor.relations@worley.com E: media.relations@worley.com Worley Limited ABN 17 096 090 158 57Worley - Investor Day 2025 For personal use only