1H 2013 Earnings Presentation

Inventory (US $M) 600 500 400 300 200 100 Inventory Balance 534 (40) Inventory Dec 2012 (57) (26) 411 Volume Impairment/ FX Driven Reduction Obsolescence BOART LONGYEAR Inventory Jun 2013 Peaked at $570M in October 2012 • Progress being made: ~$66M reduction through 1H 2013 • Additional $10M - $15M of non-cash expense expected in 2H 2013 related to this policy. 1H 2013 Earnings Presentation 32

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