1H 2013 Earnings Presentation

1H 2013: Debt Bridge (US $M) 1,000 900 800 700 602 600 500 400 300 200 100 Operations 329 (307) Working Capital Investing/Financing I 90 (40) (71) 22 5 22 22 1 (55) 598 Gross Debt Net Loss Dec 2012 Impairments/ Depreciation/ Taxes/ Other Non- Amortization Interest Cash AR AP Inventory CAPEX Dividends/ Other Change in Cash I ■ Impairment & Restructuring: • Goodwill: $166M . Equipment: $53M • Inventory: $57M • Other: $39M I Accounts Payable: I . No seasonal uplift • I Capex: Minimal purchasing levels 1 due to sales being fulfilled I Full year 2013 forecast remains $50M I with existing stock I I I Inventory: 1. Continue to focus on inventory release cash generation through BOART LONGYEAR Gross Debt June 2013 1 Excludes contingent liabilities relevant to determining bank covenant compliance. See footnote #1 and #15 in financial statements. 1H 2013 Earnings Presentation 13

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