EnerComs The Oil & Gas Conference 19 Willbros Group, Inc. August 2014
Willbros: More than 100 years of: Specialty energy infrastructure general contractor serving the oil, gas and power industries Offerings include engineering, procurement and construction (individually or as an integrated EPC…
Willbros Mission and Values Willbros.com August 2014 A Good Job On Time Done Right 4
Positioned for Growth in North American Energy Infrastructure Market ENR Ranking Engineering and EPC 14 Professional Top 500 Integrity Services Design Firms Services Industrial Process / Petroleum Sector Upstream / Midstream /…
Professional Services Segment Drivers Growing market for engineering and EPC / EPCm projects: Low natural gas prices have sparked renewed interest and investment in the petrochemical industry Shale gas infrastructure continues to…
Professional Services Segment Provider of engineering and integrated EPC services to the Upstream / Midstream / Downstream markets Integrity program management and field services Partnered with Google to provide a cloud-based…
Oil & Gas Segment Drivers Increasing unconventional production in the U.S. is driving: Demand for cross-country pipelines, smaller & shorter distance pipelines and gathering systems A petrochemical renaissance, especially on the…
Oil & Gas Segment Overview O&G Current Revenue Capacity Cross-Country Pipeline Construction Field Development Construction including midstream pipelines and gathering systems Regions Facilities Facilities Construction: Pump…
Focused on Mainline and Larger Midstream Opportunities Oil & Gas Pipeline Capabilities Local Decision Corporate Decision Bakken Niobrara Utica Hook-ups Laterals Mainlines Woodford Marcellus Gathering Medium diameter/ Large…
Transmission Spending is Expected to Increase for the Foreseeable Future NERC-Wide Cumulative Transmission Additions Under construction + planned The North American electric Circuit miles 50,000 Under construction + planned +…
Utility T&D Segment Overview Outlook Strong resume having constructed over 2,000 circuit miles of high voltage transmission lines 2014 is a transition year: Focus is on expanding capabilities and growing presence in the markets…
Canadian Opportunities Improving in Oil Sands Production from the oil sands set to increase significantly over the next decade Robust maintenance and capital spending anticipated for the foreseeable future Focused on positioning…
Canada Segment Focused Growth Overview Focused on core strengths, providing services in the oil sands mine sites and in-situ developments: Field Services Project Specialty Services Fabrication Chromium Carbide Overlay (CCO)…
Segment Details Revenue 2Q14 Total Backlog by Segment (1) Utility T&D 55% Prof. Services 13% Oil & Gas 44% Oil & Gas 17% Canada 15% Canada 18% 1.7 billion 12 Month Backlog by Segment (1) Prof. Services 21% Prof.…
Liquidity 28.3 million in cash and cash equivalents at June 30, 2014 Completed refinancing on August 7, 2013 by entering into: A 5-year 150.0 million asset based senior revolving credit facility (ABL) maturing in 2018 65.8…
Positioned for Positive Consolidated Performance in 2014 EPC Service Provider (discrete or integrated) Identifiable Diversified Valuation Upside Revenue Base Attractive, High Strengthened Growth End Financial Position…
Trading at a Discount to Peers 2015 Price/Earnings Valuation 2015 Price/EBITDA Valuation 30x 10x 9x 25x 8x 7x Peer Average = 6.5x 20x 6x 15x 5x 4x 10x 3x 2x 5x 1x 0x 0x WG MTZ AEGN EME FWLT MYRG PWR TTEK MTRX TISI DY…
Risk Management Processes and Procedures Corporate Review Comprehensive Bid Review Review Triggers Committee Review Process Dollar Threshold CEO Contract Terms Pursue / No Pursue New Customers CFO Pricing / Margins Bid / No Bid…
Project Management Office Willbros.com August 2014 A Good Job On Time Done Right 23
Estimated Impact of Pipeline Integrity Ruling Willbros.com August 2014 A Good Job On Time Done Right 24
WILLBROS COLLECTION OF IM-RELATED SERVICES IS UNIQUE Relative Competitiveness 2 4 6 8 10 Willbros 13 15 17 Major Group Moderate Minor 1 3 5 7 9 11 12 14 16 Data Management GIS data migration/integration MAOP verification Field data…
Experienced Management and Operations Team with Proven Track Record Senior executive team averages over 30 years of relevant industry experience Many have led projects both domestically and overseas Field leadership team brings…
Experienced Management and Operations Team with Proven Track Record Key Management Years of Relevant Name Age Position Experience Robert R. Harl 63 39 Chief Executive Officer Earl R. Collins 46 23 President Van A. Welch 59 37…
Inside Ownership Insider Ownership1 Individual/Entity Shares Owned % of Outstanding Shares Executive Officers Robert H. Harl 953,708 2.0% James L. Gibson 165,561 0.3% Van A. Welch 293,505 0.6% Peter W. Arbour 88,739 0.2%…
Worldwide Brand Recognition Reputation for Successful Project Execution Willbros has developed an international brand and reputation as a preferred contractor, meeting customer expectations for quality and schedule, even under…
Strong Long-Term Customer Base Willbros has long-standing customer relationships with leading companies including integrated majors, large independents, utilities and energy companies, natural gas transportation companies and Canadian…
Strong Long-Term Customer Base Selected Client Base U.S. and Canada Oil & Gas Utility T&D Willbros.com August 2014 A Good Job On Time Done Right 31
Reconciliations ( in thousands) Adjusted EBITDA Year Ended December 31, 2013 (In thousands) Adjusted EBITDA less Regional Delivery from continuing Less: Regional operations (1) As Reported Delivery As Recasted Net income…
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