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INTERIM RESULTS for the six months ended 28 February 2010

INTERIM RESULTS for the six months ended 28 February 2010. Overview. One of the largest E&I contractors in South Africa In operation for over 36 years Market capitalisation of R275 million* Order book of R595 million* ISO 9001:2008 accredited 5 Star Nosa safety rating 9EB CIDB rating

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INTERIM RESULTS for the six months ended 28 February 2010

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  1. INTERIM RESULTSfor the six months ended 28 February 2010

  2. Overview • One of the largest E&I contractors in South Africa • In operation for over 36 years • Market capitalisation of R275 million* • Order book of R595 million* • ISO 9001:2008 accredited • 5 Star Nosa safety rating • 9EB CIDB rating • Level 5 BBBEE contributor • Madagascar – 1.0 million LTIF manhours * Snapshot as at 28 February 2010 Share code: BWI

  3. Financial Highlights • Gross profit margin up to 23.0% • NPAT R30.8 million • Revenue R248.6 million • NAV 88.5 cents per share • EPS 15.5 cents per share • Interim dividend declared 2.5 cents per share • Cash positive R70 million Share code: BWI

  4. INDUSTRY

  5. Construction Industry – E&I Share code: BWI

  6. Power Generation Mining Other Process Plants Nuclear/Renewable Energy Sources Chemical, Oil & Gas Infrastructure Target Industries – E&I Share code: BWI

  7. GROUP OVERVIEW

  8. Installation Material Supply Construction Management Optimisation Calibration & Commissioning Tools, Plant and Equipment Earthing & Lightning Protection B&W Services Objective • Supply power to all electrically-operated plants • Enable plant operations to be managed from one central site Share code: BWI

  9. B&W Market Share Share code: BWI

  10. Morocco Algeria Senegal Burkina Faso Nigeria Sierra Leone Ghana Uganda Democratic Republic of Congo Tanzania Angola Malawi Zambia Current Projects Potential Projects Mozambique Madagascar Zimbabwe Namibia Botswana South Africa Lesotho Footprint Share code: BWI

  11. Grow existing market organically • Diversify service offering (eg. Pontins) • Expand geographically • Increase presence in oil & gas and power distribution Markets • Control and optimise operating costs • Increase operational efficiencies • Maintain and strengthen cash flow Operations Acquisitions • Must serve the same market/clients as B&W • Enhance EPS • Strengthen and/or expand on core competencies Strategy Share code: BWI

  12. Shareholder Spread Share code: BWI

  13. FINANCIAL RESULTS

  14. 232 March 2009 – August 2009 Interim Revenue Share code: BWI

  15. 25 March 2009 – August 2009 Interim PAT Share code: BWI

  16. EPS Share code: BWI

  17. Dividend History Share code: BWI

  18. Bank Balance Share code: BWI

  19. LOOKING AHEAD

  20. Market Conditions • No cancellation of B&W contracts awarded; a number were delayed but now re-commissioned • Market conditions expected to recover substantially in 2011/2012 (although not expected to reach the levels seen in 2007/2008) • Tendered margins tighter and therefore operational efficiencies will have to compensate • Long-term targets - plan intact Share code: BWI

  21. 2010 & 2011 • Margins under pressure • Revenue for 2010 intact Share code: BWI

  22. 6.8 5.3 2.8 3.1 2.8 2011 & Beyond • Reduced pipeline but work still available up to and beyond 2010 • South Africa’s infrastructure spend will continue after 2010 • Eskom’s “new build” programme to begin in 2011 • Other power producers in and outside of South Africa will be active • Two new oil refineries in South Africa and neighbouring states respectively • Upstream Oil & Gas work will be required in Angola and Nigeria • Exploration activity has increased, particularly in Africa Share code: BWI

  23. Disclaimers This presentation contains forward-forward looking statements. All statements, other than statements of historical fact, that address activities, events or developments that B & W Instrumentation and Electrical Limited (“B&W”) believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding future market performance and/or prospects, future revenue, future targets, future expansion and future plans and objectives of B&W) are forward-looking statements. Many factors could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, adverse changes or uncertainties in general economic conditions in the markets we serve, regulatory developments adverse to B&W, changes in B&W’s competitive position or changes in business strategy. B&W gives no assurance that events expressed or implied in the forward-looking statements in this presentation will actually occur and makes no undertaking to subsequently update or revise the forward-looking statements in this presentation to reflect events or circumstances after the presentation date. Share code: BWI

  24. Thank you for your attention

  25. Salient Financial Information Share code: BWI

  26. Statement of Financial Position Share code: BWI

  27. Cash Flow Statement Share code: BWI

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