1H 2013 Earnings Presentation

Improve Operating Margins Drive Costs Out of the Business Cost Out Opportunity $ in Millions $200 $150 $100 $50 $- 30 70 173 60 13 160 2012 Cost Reduction Actions 1H2013 Cost Reduction Actions 2H2013 Cost Reduction Actions Total Margin Opportunity Streamline organisational structure - - Focus Areas Consolidated Drilling Services operations: 23 zones to 11 territories Consolidating facilities around the world. Improve Products and Drilling Services synergies - Consolidated maintenance groups: reducing costs through process efficiency. Consolidated supply chain groups: reducing inventory and stocking locations Improve processes and efficiencies across the globe Steps to improve margins continue BOART LONGYEAR 1H 2013 Earnings Presentation 9

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