Morgans Queensland Conference

2018 Full-Year Segments: Asia Pacific ASIA PACIFIC EBITDA AND % MARGIN A$ million 18 16 62 14% 12% Cardno® Asia Pacific Engineering EBITDA margins declined from 10.9% to 7.5% driven by the continued wind down of a number of major projects in early FY18 as well as "project clean up" in APAC North. Division restructured in H2 with solid platform for growth going forward. > Gross Revenue in FY18 of $266.0m, 3.6% lower than FY17, reflecting the previously flagged completion of three major projects. 14 10% > 12 > 8% 10 8 6 4 2 EBITDA margin was 7.5%, versus 10.9% margin achieved in FY17. No major project wins in Asia Pacific with a number of major projects tailing off. Our Business Development group continues to position Cardno on a number of major project opportunities in QLD, NSW, VIC and Asia. > Business restructured in June 2018 to align operations between the northern and southern operations and support increased collaboration. KEY WINS DURING THE YEAR INCLUDE: 6% 4% 2% > 0% H1-2017 H2-2017 H1-2018 H2-2018 > East Bay Water Supply Scheme, Philippines for Manila Water. > Kings Highway Nelligen, bridge replacement for NSW Roads & Maritime Services. Dahua Group Australia, land development project. > City of Melbourne, Southbank Boulevard and Dodds Street redevelopment. Ebitda % 18 Cardno: Morgans Queensland Conference

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