Refinancing Presentation

Commitment to a more financially disciplined Boart Longyear ❖ Operating margins from lagging to leading with a relentless focus. on cost reductions and operational efficiencies ❖ Reduce inventory and release working capital --- $100M to $150M reduction over the next few years. • • Consolidate supply chain. Improve inventory management Increase capital returns through more disciplined capital management ✰ Limit near-term capital expenditures by leveraging significant 2010-2012 investments Fix the balance sheet by reducing costs and increasing operational efficiencies BOART LONGYEAR" Refinancing Presentation - October 2013 12

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