Refinancing Presentation

Key Performance Indicators 2013 2012 2009 Mid-Sep Mid-Aug Mid-May Mid-Feb June June Rig Count ~1,035 ~1,035 ~1,040 1,065 -1,200 -1,200 Rig Utilisation ~45% -50% -60% 58% ~70% -50% Product ~$22M -$20M -$35M $51M ~$62M -$18M Backlog Headcount ~6,100 ~6,300 ~8,000 8,680 ~11,400 -6,100 Net Debt1 ~$540M ~$545M ~$585M $554M ~$373M ~$750M Positive • • • • Underground business remains stable. Selective R&D investment continues Key Drilling Services project wins Opportunities to take further costs out of the business over time and to increase operational efficiencies. Weaknesses • • ● Commodity prices remain volatile Large mining companies continue to focus on cost reductions Global rig utilisation continues to weaken • Continue to expect 2H pricing pressure Focus on reducing costs and paying down debt BOART LONGYEAR" Refinancing Presentation - October 2013 7

View entire presentation