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M ICHAEL B AKER C ORPORATION

e ngineering. and. e nergy. solutions. 2001 IPAA Oil & Gas Investment Symposium. M ICHAEL B AKER C ORPORATION. Presented by. April 17, 2001. Safe Harbor.

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M ICHAEL B AKER C ORPORATION

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  1. e ngineering and e nergy solutions 2001 IPAA Oil & Gas Investment Symposium MICHAEL BAKER CORPORATION Presented by April 17, 2001

  2. Safe Harbor This presentation will contain information related to events which may occur in the future. These forward-looking statements may include future business trends, revenue and earnings forecasts, and acquisition and corporate finance activity. These statements are subject to market, operating and other risks and uncertainties and, as a result, actual results may vary. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

  3. Profile/Summary • AMEX - listed: BKR • Founded in 1940; Publicly Traded Since 1969 • A Leader in Professional Services • Oil & Gas Production O&M • Transportation and Civil Infrastructure Engineering • Large Global Markets • Under-followed Micro-Cap, Valued at 3x EBITDA

  4. Engineering

  5. Energy

  6. Business Model Evolution Decisional Transactional e-OPS OPCO Knowledge Management T2B Manpower Supply Price-Sensitive

  7. Growth Drivers • Outsourcing and Industry Growth Commitments of Major and Independent Oil and Gas Producers • Political and Economic Requirements to Develop Nationalized Workforce • Favorable Environment of Cost Per Barrel of Oil • Deregulation of Electric Power Industry

  8. Energy Supply Chain Management Houston Lafayette Mechanical Maintenance London O&M Services Lagos Operations Engineering Caracas SERVICES LOCATION Manpower Bangkok Challenge Us Training Anchorage Recruiting Abu Dhabi Abu Dhabi CUSTOMERS Major and Large Independent Oil & Gas U.S. Electric Utilities and I.P.P.

  9. Our Domestic Market

  10. Management Business Operations Growth SM OPCO Maintenance HSE Human Supply Resources Chain Training & Development OPCOSM

  11. OPCOSM Total GOM OPCO-Type Market: $3.0b Baker OPCO Revenues in $ Millions (Estimated)

  12. Our Domestic Market

  13. OPCOSM Value Drivers • Penetrate Cost Floor • More Efficient Use of Critical Resources • Maintain HSE Excellence • Cost Savings of 10-20% • Performance-based Contracts

  14. Fixed Fee Income Annual Performance Bonus Sharing Cost Savings Baker VALUE CREATION SHARED SAVINGS LEVERAGED ECONOMIES of SCALE OPCOSM Client Reduced Operating Costs Increased Revenues Increased Efficiency OPCOSM Value Drivers

  15. e-OPS • Fully-Integrated, Operations and Maintenance System for Upstream Energy Industry • Alliance: • Baker - Content • SAIC - Technology, Telecom and Knowledge Management • Global Market - $160 Billion • Benefits • Shortened Cycle Time • Improved Operating Performance • Lower Cost of Operation • Greater Asset Return

  16. Total Revenues Energy

  17. Operating Performance(in Thousands of $) 5,471 Adjusted for $1 Million Non-Recurring Charge

  18. EPS Growth

  19. Conclusion • Under-followed Micro-Cap, Valued at 3x EBITDA • A Leader in Professional Services • Oil & Gas Production O&M • Transportation and Civil Infrastructure Engineering • Expanding Outsourcing Trend in Core Business • OPCOSM Model Driving Energy Segment Growth and Margin Improvement

  20. e ngineering and e nergy solutions 2001 IPAA Oil & Gas Investment Symposium MICHAEL BAKER CORPORATION Presented by April 17, 2001

  21. Cash Flow(in millions of $)

  22. Balance Sheet(in millions of $)

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