#1wood. Investor Presentation October 2023 Design the future.#2Disclaimer This document has been prepared by John Wood Group PLC ("Wood" or "the Company") solely for use for background. For the purposes of this notice, the presentation that follows (the "Presentation") shall mean and include the slides that follow, the presentation of the slides by the Company, any question and answer session that follows that presentation, hard copies of this document and any materials distributed at, or in connection with, that presentation. In this Presentation, "Group" means the Company and its subsidiaries. The Presentation does not constitute or form part of and should not be construed as, an offer to sell or issue, or the solicitation of an offer to buy or acquire, securities of the Company in any jurisdiction or an inducement to enter into investment activity. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. Statements in this Presentation, including those regarding the possible or assumed future or other performance of the Company or its industry or other trend projections, as well as statements about the Company's or its management's beliefs or expectations, may constitute forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond Wood's control. These risks, uncertainties and factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no representation is made that any of the forward-looking statements will come to pass or that any forecast results will be achieved. Forward looking statements in the Presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. They speak only as at the date of this Presentation and the Company undertakes no obligation to update these forward-looking statements. The information and opinions contained in this Presentation do not purport to be comprehensive, are provided as at the date of the Presentation and are subject to change without notice. The Company is not under any obligation to update or keep current the information contained herein. In no circumstances, to the fullest extent permitted by law, will the Company, or any of its respective subsidiaries, shareholders, affiliates, representatives, partners, directors, officers, employees or advisers be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from or in connection with the use of this Presentation, its contents, any omissions or any reliance placed upon it. 2 wood.#33 Contents Highlights About Wood A transformed business Significant growth potential Delivering on our strategy Progress towards our financial targets Conclusion Appendix#4Highlights Leading global engineering and consultancy company Strong competitive positions across our markets Lower risk business model Well-diversified across markets and geographies A transformed business • Significant transformation over the last few years. 4 • New leadership team in place Significant growth potential Well-positioned for market growth across energy and materials. · Significant sustainable solutions business Financial recovery increasingly visible Strong momentum in revenue, order book and pipeline • Return to cash flow positive in 2024#5About Wood 9#6Leading global engineering and consultancy company Advise • • Feasibility studies ⚫ Concept design • Pre-FEED Strategy planning Design • FEED ⚫ Detailed design • • Owner's engineer • • • Deliver PMC ⚫ EPCM Commissioning • Operate • Maintenance Modifications • Brownfield engineering • Asset management • Asset optimisation Repurpose • Life extension • Asset repositioning Decommissioning OPERATIONS PROJECTS CONSULTING Repurpose Operate Advise Working together to bring critical solutions to clients Deliver Design 6 wood.#7Strong competitive positions across our markets Outstanding global expertise Long-term client relationships Highly valued by our clients • • • • • World class SMEs and engineers Decades long relationships with major clients Including Exxon, Chevron, Shell, BP, Dow, GSK NPS 20% higher than market average¹ Ranked 1st amongst nine closest peers¹ c.36,000 people > 90% repeat business 20% ↑ NPS Top global engineering firm Top 5 ENR design rankings: North America, Petroleum, Industrial and Manufacturing 7 Source: Wood Core Industries Survey (N=250) and Key Markets Survey (N=250). Expert interviews conducted by independent consultant ENR top 10 global wood.#8tr TECNICAS REUNIDAS Operations Worley energy chemicals | resources Our competitive landscape Consulting Worley energy chemicals | resources CKBR T.EN TECHNIP ENERGIES Projects Worley T.EN TECHNIP ENERGIES energy chemicals | resources FLUOR, Jacobs Aker Solutions CKBR 8 Main peers shown, list not exhaustive Maire Tecnimont Aker Solutions Petrofac wood.#9Differentiated from the competition Reimbursable Contracting model Fixed price 9 1. 0% SNC LAVALIN Jacobs AECOM KBR FLUOR wood. Worley energy chemicals Petrofac Aker Solutions O&G exposure¹ subsea 7 5 SAIPEM Maire Tecnimont TECHNIP TEN ENERGIES TECNICAS REUNIDAS Wood analysis as of November 2022, based on published company reports and statements. Illustrative chart only, not to scale. O&G exposure includes upstream, midstream and downstream / chemicals. Wood position includes oil & gas and refining & chemicals 100% Increasingly balanced across energy and materials World class technical expertise Only one peer competes across our business#10Lower risk business model Revenue split (HY23) 10 19% 3% 78% Order book split (June 2023) Mostly cost reimbursable contracts Cost reimbursable Fixed price services (incl. fixed price Consulting) Lump sum turnkey (LSTK) 14% 1% 85% Fixed price services average contract size < $10m LSTK only in exceptional circumstances#11Well-diversified by markets and geography Revenue split by market (HY23) Revenue split by geography (HY23) 11 Other Life Sciences .9% 2% Minerals 6% Refining & Chemicals 21% Hydrogen & CCUS 1% Renewables. 1% Power 4% Oil & Gas 56% Rest of the world 4% Middle East & Africa 18% Americas 35% Europe 24% Asia Pacific 19% wood.#1212 A transformed business#13Significant transformation over the last few years • New leadership team in place • Fixed the balance sheet - sold Built Environment Consulting business in September 2022 • De-risked contract portfolio - lump sum turnkey now only 1% of order book . • Addressed legacy issues - cash outflows mostly end in 2024 Dedicated focus on culture - re-engaged our teams. • Defined priority markets and geographies to focus on for growth 13#14A new leadership team in place 14 Chief Executive Ken Gilmartin Joined ELT Aug 2021 CEO from July 2022 Executive President, Executive President, Chief Financial Officer David Kemp Strategy & Development Jennifer Richmond Business Sustainability & Assurance Mike Collins Executive President, People & Organisation Lesley Birse Group General Counsel & Company Secretary Martin McIntyre Executive President, Consulting Azad Hessamodini Executive President, Projects Craig Shanaghey Executive President, Operations Steve Nicol Joined ELT Joined ELT October 2020 Joined ELT May 2015 Announced intention to retire April 2022 Joined ELT Nov 2021 Joined ELT Jan 2022 Joined ELT June 2022 Joined ELT July 2022 Joined ELT Feb 2023 wood.#15Focused on the right markets c.$235bn Large markets with solid growth. Oil & Gas Delivering energy security 88 Chemicals Rising global demand 2025 total addressable market in core geographies1 Small markets with substantial growth. Hydrogen Enabling energy transition B Carbon Capture Enabling energy transition Large markets where we will significantly grow our share. 15 1. Addressable market sizes estimated using secondary sources Minerals Minerals for net zero Life sciences Rising global demand#1616 Significant growth potential#17Well-positioned for market growth Energy Focus markets¹ Oil & Gas H₂ Hydrogen • Market drivers • Energy security Net zero agenda High commodity prices Energy transition Supportive policy Technology Carbon capture • Net zero agenda • Improving economics • Mineral processing Materials Chemicals Life sciences • Transition to net zero • Consumer demand Supportive policy Addressable market (2025)² $124bn $4bn $4bn Supportive policy Technology advancement $21bn • Circular initiatives • Net zero agenda $50bn . Consumer demand Onshoring commitments • Aging populations $26bn Market CAGR 2022-2025³ 6% 67% 29% 7% 1% 6% Market CAGR 2% 31% 15% 7% 2% 6% 2022-20303 Wood share today High Low Low High Medium Low Market share growth 17 123 1. 2. Oil & Gas refers to upstream and midstream. Chemicals excludes refining Addressable market sizes estimated using secondary sources, details available in our Capital Markets Day presentation (Nov 2022) 3. Market CAGR assumptions shown are nominal growth rates based on a range of global inflation assumptions from 0% to 2.5%#18Significant sustainable solutions business Energy. Energy Transition H₂ 怪食 Materials. Sustainable Materials Life sciences Hydrogen Carbon Renewable Capture Energy Power Electrification Battery storage LNG Minerals Processing Waste to energy Materials Sustainable Recycling fuel/feedstocks Pharma Energy transition materials 18 1. Decarbonisation1 across all markets Over $1 billion a year business, growing at 20% (HY23) Only included if the decarbonisation scope(s) are greater or equal to 75% of total contract value#19Leading capabilities across hydrogen and carbon capture Performed over 175 carbon capture studies, worked on over a third of the world's projects1 Helping deliver world's largest OCCUS hub in Middle East Designed and built over 130 hydrogen plants in 40 years Blue hydrogen technology that can capture up to 95% of CO2 Setting standards in CCUS - leading joint industry partnership Involved in three industrial cluster projects in the UK Designing 400km of CCUS pipeline in Canada FEED to eliminate 95% of CO2 emissions in some US Gulf Coast complexes 19 1. Based on Wood calculation using data from www.iea.org/energy-system/carbon-capture- utilisation-and-storage#20A higher grade, growing pipeline Factored pipeline (24 months) Not to scale Q3 2022 Q4 2022 Q1 2023 Q2 2023 Total pipeline market split % • • Disciplined in where we bid - Strategic clean up in Q4 2022 to remove LSTK and large EPC - Significant opportunity to grow within our risk appetite Double digit growth in factored pipeline Strong market growth across our focus markets - Demand for Wood's offering Continued diversification of pipeline - Materials 37% (vs. 28% of HY23 revenue) 20 Materials 37% Energy 61% • - Growing across energy and materials markets Growth in sustainable solutions -10% increase in sustainable pipeline in H123 to $600M Improving pricing Gross margin as a percentage of revenue starting to increase#2121 Delivering on our strategy#22Our strategy Profitable growth. Performance excellence. Inspired culture. G Energy. Oil & Gas | Hydrogen | Carbon Capture Materials. Minerals | Chemicals | Life Sciences Decarbonisation < 22 22 Digitalisation#23Good progress since our CMD in November 2022 2 Profitable growth. A higher-grade business • Targets EBITDA mid to high single digit CAGR Strong operating cash flow Return to positive free cash flow Focus on reimbursable contracts HY23 progress • EBITDA up 12%¹ • Significant improvement in operating cash flow . LSTK now only c.1% of order book • Future focus Selective market focus • Continue to improve pricing Optimise portfolio - reviewing c.4% of business • Improve cash generation G 23 1. 2. Performance • Grow order book excellence. Results focused and delivering • Increase use of Global Execution Centres (GEC) Consistent Project outcomes Increase % sustainable solutions . Order book up 5%² • GEC headcount over 3,000 Sustainable solutions revenue up 20% . • Continued focus and discipline in where we bid • Further GEC growth Continue to grow sustainable solutions Inspired culture. Creating a great place to work • • Improve employee engagement Lower voluntary turnover Reduce recordable safety incidents • 40% leadership female by 2030 . Employee NPS up 23 points YOY . Continual focus on safety • Develop employee experience • Lower voluntary turnover . across professional roles • 35% leadership female (vs. 32% at Dec 2022) • Further increase diversity Expand graduate intake • Continue SME recruitment At constancy currency Compared to December 2022, at constant currency and excludes Gulf of Mexico labour operations business sold in March 2023 wood.#2424 Progress towards our financial targets#25Highlights from HY23 results Good trading across business. Revenue up 20%¹ . Adjusted EBITDA up 12%¹ . • Delivering on our strategy. Double-digit growth in key markets (revenue and pipeline) Significant contract wins across energy and materials Employee NPS +23ppt YoY Continuing to build momentum. $6bn order book, up 5% 1,3 vs. Dec 2022 Sustainable solutions revenue up 20% YoY to over $600 million Headcount up 5% YoY • . Improved operating cash flow Increased FY23 guidance² 1. At constancy currency 2. 25 For revenue and adjusted EBITDA 3. Excludes Gulf of Mexico labour operations business sold in March 2023 wood.#26Medium-term financial targets . • Revenue to outperform market CAGR of around 5% EBITDA margins flat in the nearer term, opportunity for some improvement in the medium term Adjusted EBITDA to grow at mid to high single digit CAGR with momentum building as our strategy delivers 26#27On track for positive free cash flow from 2024 $ Note: Illustrative chart, not to scale FY26 27 FY23 c.$130m c.$135m FY25 FY24 c.$30m c.$30m c.$65m Operating cash flow Capex Interest, tax, other Legacy liabilities Operating cash flow growing faster than EBITDA Reducing capex Reducing legacy liabilities Growth in FCF wood.#2828 Conclusion#29Conclusion Leading global engineering and consultancy company • Strong competitive positions across our markets Lower risk business model Well-diversified across markets and geographies A transformed business • Significant transformation over the last few years. • New leadership team in place Significant growth potential 29 Well-positioned for market growth across energy and materials · Significant sustainable solutions business Financial recovery increasingly visible Strong momentum in revenue, order book and pipeline • Return to cash flow positive in 2024#3030 Appendix#31A summary of the Group Investment Services 4% Consulting 12% Middle East & Africa Rest of the world 4% Other 9% 18% Americas 35% Materials 28% Energy 63% HY23 revenue: Operations 42% Projects 42% Europe 24% Asia Pacific 19% Investment Services 2% Consulting 10% Middle East & Africa, 17%. Other 5% Order book Americas, 27% Materials 25% at June 2023: Operations 52% Projects Europe, 36% 32% Asia Pacific, 24% Energy 70% 31#32Business model across our Bus Number of employees (Dec 2022) Average contract length Average contract size Consulting c.4,000 Projects c.14,000 5 months 12 months c.$0.1m c.$10m Operations c.16,000 3 years c.$90m Contract mix: - Cost reimbursable c.60% c.70% c.95% - Fixed price services c.40% c.22% c.5% - Lump sum turnkey Nil c.8% Nil Level of repeat business c.85% c.90% c.95% Capex/opex exposure EBITDA margins (FY22) Operating cash conversion profile Both Capex-led 11.7% 7.6% Opex-led 6.1% > 90% > 90% by 2024 > 90% 32 wood.#33Adjusted income statement detail (1/2) Consulting Projects HY23 Reported 355.8 1,245.3 HY22 Restated 312.5 990.0 Operations 1,244.5 1,176.9 FY22 Restated 652.4 2,211.2 2,407.0 Notes Restatement: FY22 $27m, HY22 $10m Investment Services Total revenue Consulting 140.8 91.3 198.8 2,986.2 2,570.7 5,469.3 37.8 40.1 76.2 Restatement: FY22 $3m, HY22 $1m Projects 91.6 81.3 168.8 Operations Investment Services Central costs Total adjusted EBITDA Consulting Projects 76.7 76.0 147.6 26.2 26.6 69.3 Includes Turbines JVs (30.6) (38.2) (73.6) 201.7 185.8 388.3 10.6% 12.8% 11.7% Restatement¹ 7.4% 8.2% 7.6% Operations 6.2% 6.4% 6.1% Investment Services 18.6% 29.3% 34.9% Includes Turbines JVs Total adjusted EBITDA margin % 6.8% 7.2% 7.1% Depreciation (PPE) (15.1) (14.2) (29.3) Depreciation (right of use asset) (44.8) (43.6) (90.5) Impairment of PPE and right of use assets Amortisation software and system development (0.4) (0.4) (2.4) (52.0) (45.7) (89.0) Total adjusted EBIT 89.4 81.9 177.0 33 1. HY22 and FY22 restated to include Built Environment Consulting Saudi Arabia, (previously held for sale) wood.#34Adjusted income statement detail (2/2) HY23 Reported HY22 Restated FY22 Restated Tax and interest charges on JVs Exceptional items (8.3) (5.2) (14.3) Net finance expense (34.8) (50.9) (103.9) Interest charge on lease liability (8.5) (7.5) (16.4) Adjusted profit before tax 37.8 18.3 42.4 Adjusted tax charge (28.3) (34.0) (59.2) Profit/(loss) from discontinued operations 56.5 60.2 Restatement¹ Adjusted profit for the period 9.5 40.8 43.4 Non-controlling interest Adjusted earnings (2.3) (0.4) (4.6) 7.2 40.4 38.8 Number of shares (m) - diluted 684.9 706.1 680.4 Adjusted diluted EPS (cents) 1.1 5.7 5.7 34 1. HY22 and FY22 restated to include Built Environment Consulting Saudi Arabia, (previously held for sale) Notes wood.#35Free cash flow reconciliation Pre-IFRS 16 to post-IFRS 16 free cash flow reconciliation Excluding leases HY23 Leases HY22 Excluding Total Leases FY22 Total Total leases Adjusted EBITDA (includes continued and discontinued operations) Less: JV element of EBITDA Add: JV dividend Adjusted EBITDA excl. IFRS 16 and JVs Provisions Other Working capital Operating cash flow Net capex Interest paid Tax paid Other Non-cash movement in leases Free cash flow pre-exceptionals Exceptionals 151 51 202 190 61 250 458 (25) (4) (29) (20) (3) (22) (59) 8 8 16 16 30 134 47 181 186 58 244 429 (12) (12) (74) (74) (44) 11 11 15 1 16 28 (94) (94) (208) (208) (367) 39 47 86 (82) 59 (23) 47 (76) (76) (57) (57) (129) (41) (41) (51) (51) (94) (43) (43) (29) (29) (82) 1 1 (30) (30) (46) (28) (28) (41) (41) (15) (121) 19 (102) (250) 18 (231) (293) (99) 6 (93) (102) 8 (94) (304) Free cash flow (219) 25 (194) (352) 26 (325) (597) FX movements on cash and debt facilities (22) (8) (30) (12) 24 12 (26) Divestments (20) (20) 1,729 (Increase)/decrease in net debt (261) 17 (244) (364) 50 (313) 1,107 35 wood.#36Reducing legacy liabilities (unchanged since CMD) 16 36 All cash outflows FY23e FY24e FY25e Aegis Poland contract c.$20m Nil Nil • • Asbestos (provisions) c.$35m c.$30m c.$30m Commentary Project complete, in commercial settlement process Long term profile to 2050 Gradually reducing over time SFO settlement c.$35m c.$30m Nil • Final payment in early 2024 Restructuring costs n/m n/m n/m • No material costs expected Onerous leases c.$20m c.$5m Nil • LSTK losses/working c.$25m Nil Nil • Reduce to nil beyond 2024 Exiting LSTK, unwind of advances capital Total: c.$135m c.$65m c.$30m wood.#37Our joint ventures 37 EthosEnergy RWG REPAIR & OVERHAUL EXPERTISE Others Turbine services across gas turbines, steam turbines, generators, compressors and transformers 51% share (Siemens Energy own 49%) Maintenance, repair and overhaul services for Siemens Energy industrial aero-derivative gas generators and power turbines 50% share (Siemens Energy own 50%) Around 20 joint ventures across the rest of the Group. Typical business model to enter different territories. % share varies HY23 EBITDA contribution of $14m HY23 EBITDA contribution of $7m HY23 EBITDA contribution of $8m Included in Investment Services Included across three BUS Total JV contribution to Group's results in HY23: $29m EBITDA, $8m dividends wood.#38Liquidity position at June 2023 00 38 Facility Costs Size Maturity RCF c.7.5% $1,200m UKEF C.8% $200m 2024 • USPP c.4.5% $90m 2024 $116m $18m $128m $352m Overdrafts & other $150m Total $1,902m 2026 Expected to be repaid in September 2024 2026 2027 2029+ wood.#39Our capital allocation policy Strong balance sheet Medium term target leverage range around 0.5x to 1.5x (pre-IFRS 16) 39 Invest in our business Invest in the business to secure growth Legacy issue payments Ordinary dividends Share buybacks M&A Schedule of payments related to legacy issues, reducing each year to only asbestos from 2025 wood.