Tricorn Group Plc Interim Results Presentation December 6 th 2010

1. Tricorn Group Plc Interim Results PresentationDecember 6th 2010

2. Agenda • Introduction • Results Overview • Financial Review • Business Performance • Outlook 2

3. Introduction - Group Overview 3

4. Introduction - Market Drivers • Industry Competitors • Limited number of competitors • Low batch sizes and high variety act as a deterrent • Growing markets reduce downward price pressure • Customers to Tricorn • Large customers so high resistance to price increases • Customers profitable-low credit risk • Switching costs high • High proportion of recurring income • Specialist nature of supply provides some resilience • Suppliers to Tricorn • LCC sourcing • Commodity materials • Alternative sources • Switching costs low • Potential Entrants • Close customer relationships make it difficult for a start up to gain traction • Barriers to entry due to product approval process and complexity of supply • Product Substitutes • Specialised products; limited substitutes readily available • Conservative markets • Ability to source components at low cost acts as a deterrent 4

5. Introduction - Tricorn Strategy • To acquire and grow engineering-based businesses which • supply blue chip OEM customers • are focused on attractive end markets • have potential to deliver EBITDA margins of +10% • The key elements of this approach are to:- • find underperforming businesses • drive for operational excellence • improve margins through the implementation of lean manufacturing and low cost country component sourcing • service niche markets which offer healthy margin opportunities 5

6. Results Overview

7. Results Overview • Sales up 44.9% on H1 last year • Operating profit* margin up 82.2% on prior full year • Net debt down 34.5% from March 2010 to £551k • Continued recovery in Energy and Transportation *Before intangible asset amortisation, share based payment charge and interest rate swap valuation

8. Results Overview • Emerging from recession as a stronger leaner more resilient business • Restructuring delivering improved operating margins • Inventory levels being broadly maintained despite volume increase • Many of the key skills needed have been retained enabling effective response to higher demand levels • Strong balance sheet enables investment for future growth both organically and through acquisitions • Confident that full year results will be ahead of market expectations

9. Financial Review

10. Financial Review-Headlines *Before intangible asset amortisation, shared based payment charges and interest rate swap valuation

11. Financial Review-Profitability • Improved operational gearing • Admin costs show a 13.6% improvement as a proportion of turnover • Operating profit margins* show a significant improvement over last year * Before intangible asset amortisation, share based payment charges and interest rate swap valuation ** Includes a period of reduced working hours and associated reduced payroll costs

12. Financial Review-Financial Position • Net working capital largely unchanged, despite increased volumes. • Net debt now at 551k. Borrowing capacity enhanced to fund growth strategy • £1m+ headroom on invoice discounting facility • Term loan multiple currently 0.7 times forecast EBITA • Gearing at 10.8% compared to 22.2% last year

13. Business Review

14. Energy Division • Sales up 65.7% on H1 and 48.3% on H2 last year • Strong recovery (includes some restocking) • EBITDA margin significantly improved • Additional investment through H2

15. 4 5 3 2 Transportation Division • Sales up 66.5% on H1 and 21.6% on H2 last year • Increased engineering activity with over 50 new products introduced • Next generation of fixtures developed for further step change in delivered quality • New product volumes will impact through latter part of 2011

16. Aerospace Division • Sales down 6.4% on H1 last year • Margins impacted by supply chain constraints • Changes made to divisional senior management team • Improved performance through H2 although overall revenues expected to be similar

17. Utilities Division • Underlying margins remain very strong • Some signs of market recovery with sales up 55% and 25% on H1 and H2 last year • OEM opportunities being progressed

18. Outlook

19. Outlook • Encouraged by overall progress and speed of recovery • Some element of restocking in H1 • Expecting underlying demand to remain firm • Strengthened balance sheet positions the Group well for growth • Increasing investment in plant and equipment • Confident that full year results will be ahead of market expectations

20. Appendices 20

21. Board of Directors 21

22. Shareholders 22