Capital markets day

June 2014
DISCLAIMER
This presentation contains certain forward-looking statements. These
forward-looking statements can be identified by the fact that they do not
relate only to historical or current facts. In particular, all statements that
express forecasts, expectations and projections with respect to future
matters, including trends in results of operations, margins, growth rates,
overall market trends, the impact of interest or exchange rates, the
availability of financing to the Company, anticipated cost savings or
synergies and the completion of the Company's strategic transactions,
are forward-looking statements. By their nature, these statements and
forecasts involve risk and uncertainty because they relate to events and
depend on circumstances that may or may not occur in the future.
There are a number of factors that could cause actual results or
developments to differ materially from those expressed or implied by
these forward-looking statements and forecasts. The forward-looking
statements reflect the knowledge and information available at the date
of preparation of this Capital Markets Day Presentation, and this
presentation will not be updated during the year. Nothing in this Capital
Markets Day Presentation should be construed as a profit forecast.

1
AGENDA

Introduction Keith Cochrane

Oil & Gas division overview Steve Noon
Overview of unconventional oil and gas markets Colin Welsh, Simmons International CEO
Pressure Pumping: winning in the aftermarket Paul Coppinger
Coffee break
Pressure Pumping: building technical leadership David Paradis
Pressure Control: developing a Tier-1 offering Franck Degueure
Pressure Control: extending our offering John Mathena
Upstream: international expansion Paul Coppinger
Services: developing market leadership in Middle East Vikas Handa
Conclusion Keith Cochrane
Questions

2
INTRODUCTION
Keith Cochrane, CEO
DELIVERING SUSTAINABLE GROWTH THROUGH THE CYCLE

Divisions with shared characteristics

• Serving structural growth markets
• Highly engineered equipment
• Extreme and remote environments
• Intensive aftermarket demand
Power &
Oil & Gas Portfolio benefit
Industrial
• Complementary technologies and footprint
• Diversified end markets
• Exposure to different capex cycles
Minerals
• Underpins earnings sustainability

Coherent and complementary Group focused on sustainable growth

4
 PORTFOLIO BENEFIT UNDERPINS SUSTAINABLE GROWTH

Revenue Margin
3,000 20.0%

2,500 17.5%

2,000 15.0%

Other
Power
£m

1,500 12.5%
Mining
Oil & Gas
EBITA
1,000 10.0%

500 7.5%

0 5.0%
2007 2008 2009 2010 2011 2012 2013
Group revenues by end market

Unique balanced exposure across mining and oil and gas markets
5
OIL & GAS DIVISION – SUSTAINABLE PROFITABLE GROWTH

Aligned to structural growth markets

• Tight oil and shale gas in North America
• High growth regions in Middle East and internationally

Unconventional market leadership extended since 2011

• Pressure Pumping offering extended
• Developed Tier-1 presence in Pressure Control

Clear strategy to grow faster than end market

• Opportunities to enhance aftermarket offering
• Investing in technical leadership
• International expansion opportunities
• Cross-divisional opportunities across oil and gas

6
OIL & GAS END MARKETS DRIVING GROWTH

Core end market for each division

Group input from oil and gas end market* (£m)
• Contributes >10% of P&I and Minerals divisional input
1,000
• Structural growth markets: input up c.3.5x since 2007 800

600
Minerals – 2013 oil and gas input: £134m
400
• Market leadership in oil sands market
200
- Processing and dewatering solutions
0
• Coalbed methane dewatering solutions (Multiflo™) 2008 2009 2010 2011 2012 2013

• Mid/downstream vertical turbine pumps (Floway®) Minerals input (2013 by end market)

10%
Power & Industrial – 2013 oil and gas input: £38m Oil & Gas

• Expanding in mid/downstream valve markets Minerals

Power
- Safety relief valves (Sarasin, Sebim) General Industrial
- Control valves (Blakeborough, Hopkinsons) Other

- Isolation valves (Batley, Atwood & Morrill, BDK)

Power & Industrial input (2013 by end market)
Oil & Gas – 2013 oil and gas input: £800m
11%
Minerals
• Sharing Group resources in Middle East, Singapore Oil & Gas
Power
• Benefiting from Group supply chain initiatives
General Industrial
• Participating in Group-wide fundamental research Other

*As reported 7
LEVERAGING TECHNOLOGIES AND GLOBAL FOOTPRINT
Leveraging cross-divisional technologies in upstream oil and gas Stampede swellable packer

• Upstream forum launched in 2011

• Rubber technologies (Minerals division)
- Developing range of swellable packers – c.$1bn market
Swellable packer revenue* ($m)
• Pump & valve technologies (Minerals and P&I divisions)
- Water and slurry pumps used in fracking (SPM® Gladiator™ range) 16

12
• Range of other products being developed
8
• Solids handling - potential to transfer Minerals technology
4
Leveraging cross-divisional technologies and footprint in 0
mid-/downstream oil and gas 2012 2013 2014*

• Downstream forum launched in 2014

SPM® Gladiator™ water pump
• Combined centrifugal pump revenues of c.£150m
- Gabbioneta (O&G), Floway (Minerals), WSP (P&I)
• Collaboration to support growth – £50m opportunity
- Regional manufacturing and route to market support
- Ability to bid for broader packages on large projects

Supporting international expansion of Oil & Gas division

• Entry to Australia, South America, China
*2014 is four month run rate annualised 8
DIVISIONAL OVERVIEW
Steve Noon
 DEVELOPING A BROADER OIL & GAS PRESENCE

Gabbioneta SPM Mesa and PCS Seaboard Mathena

Acquisitions

acquired acquired SOS Baku acquired, acquired acquired

acquired extending
SPM into Novatech
Australia acquired

2005 2010 2013

Weir Oil & China JV Begemann, Entered Entered

Organic growth

Gas division formed part of Weir Oman Indonesia

formed focusing on Minerals, market
shale gas integrated
into New
Entered Gabbioneta Singapore
Brazil service
centre
Entered Iraq opened

Served market size Input by segment*

9,000
100%
14% 18%
7,500
80% 12% 9%
6,000 Services Services
60% 22%
4,500 Downstream Downstream
£m

Pressure Control 40% Pressure Control

3,000 74%
Pressure Pumping 51% Pressure Pumping
20%
1,500

0 0%
2010 2013 2010 2013 10
*Includes JV’s at 100%. Rebased to 2013 constant currency
COMPREHENSIVE UNCONVENTIONAL-FOCUSED,
SURFACE EQUIPMENT PORTFOLIO

Pressure Control Portfolio Pressure Pumping Portfolio

11
 EXTENDING GLOBAL REACH

Developed International
markets1 markets2

2010 81 19
2013 71 ▼ 29 ▲
12

1 NAm and Europe 2 APAC, MEA, LatAm

 DELIVERING STRONG, SUSTAINABLE RETURNS

Input1 £m Revenue1 £m Operating profit2 £m

200 30%

800 800
25%
27% 28% 150
45%
55%
600 600 20%
39% 52%
46% 211
100 15%
400 400 183 181
42%
73% 72% 10%
41% 39% 117
55% 50
200 45% 61% 200
54% 48%
58% 5%
61% 52
59%
0 0 0 0%
2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013
AM OE AM OE EBITA EBITA margin%

Source: Weir (as reported)

• Revenue growth of more than 2.5x since 2009

- Development of Pressure Control platform offsetting pressure pumping downturn in 2012-13
• Aftermarket growth each year of the cycle, contributing over 70% of revenues in 2013
• Successful acquisitions and organic growth enabling diversification from pressure pumping OE markets
• Flexible business model supporting sustained high margins through the cycle

Margins maintained above 20% through recent pressure pumping downturn

1. As reported. 2. Operating profit includes contribution from Joint ventures 13
LEADING PROVIDER OF SURFACE EQUIPMENT & SERVICES
Input by segment* (2013)
Upstream – Pressure Pumping Upstream – Pressure Control
18%
• Market leader in pressure pumping • Emerging Tier-1 pressure control Pressure Pumping
equipment & service solutions provider 9% Pressure Control
51%
• SPM, Mesa, Novatech brands • Seaboard and Mathena brands
Downstream
• No1 well service pumps (frack and • No4 wellhead, valves and frack tree provider
22%
cement) and associated aftermarket in N. America Services
(valves, fluid ends, service, etc) • No1 mud-gas surface control rentals in
• No2 flow control equipment North America
• 33 service centres • 34 service centres Input by geography* (2013)
• 85% North America / 15% international • 97% North America / 3% international
5%
APAC
20%
MEA
Services Downstream
2% Latin America

• Global API 610 process pumps provider to 7% Europe

• Market leader in provision of 3rd party 66%

services in Middle East mid and downstream applications North America

• Weir, Wemco brands • Gabbioneta, Begemann brands

• No1 Pressure control service line (Dubai, • Top 4 in European API 610 markets
Saudi Arabia) • Top 4 in Middle East API 610 markets Customer base (2013)
• No2 rotating equipment service line (Iraq) • Strong sales presence across EMEA
• 71 service centres • 2% North America / 98% international 6%
9% Service co.'s
• 100% international
E&P's
54%
EPC's
31%
Others

14
1. Includes Oman. *Includes JV’s at 100%
 REPOSITIONING GABBIONETA
Significantly improved cost competitiveness Sales* (£m)
80
• Transferred smaller products to best cost facility in Poland
• Improved operational efficiencies in Italy 60

• Reduced product costs through VA/VE measures 40

• Value chain initiatives reducing procurement costs

20

Broadened addressable market into higher growth and margin 0

markets (c.50% of OE revenues) 2011 2012 2013

• Expanded downstream product range into larger BB pumps

• Integration of Begemann (from Minerals) to broaden range Original equipment sales mix

• Successfully entered midstream applications (LNG, FPSOs) 100%

80%
• Expanding geographic coverage and EPC relationships
60%

Leading downstream forum collaboration 40%

20%
• Increasing access to North American markets
0%
• Ability to offer broader packages 2011 2012 2013

Mid & Upstream Downstream

• Access to broader customer base

Revenues increased by almost 50% from 2011 and margins doubled in two years
*In 2013 constant currency 15
 UPSTREAM COMPETITIVE POSITIONING

Pressure Pumping Pressure Control

Portfolio Portfolio*
Well
Service Wellheads,
Mud-gas
Pumps Flow control valves and frack Zipper rentals Flowback
surface control
(including trees
aftermarket)

Weir 1 2 4 1 New New

GDI 2 - - - - -

FMC Tech 3 1 2 - 2 2

Cameron - - 1 - 1 1
GE Oil &
Gas
- - 3 - 3 -
Key
NOV New New - - - - New to market
Established in market
Weatherford - - 4 - 4 3 Not in market
Portfolio map of competitors vs. Weir’s addressable market
* North American market position 16
POSITIONED FOR SUSTAINABLE PROFITABLE GROWTH

• Strong growth in shale gas and tight oil in North America

Structural
• Internationalisation of shale
growth markets
• Global conventional upstream LNG and refining opportunities

• Focused on high pressure surface applications and critical equipment

Process critical
• Exposed to high wear, high temperature and abrasion
products
• Specialist service and rental requirements

• Exploit Pressure Pumping service network to increase aftermarket share

Increasing
• Expanding into adjacent markets (flowback, zipper manifolds)
market share
• Increasing North American Pressure Control market share

• Capitalise on recent Pressure Pumping product launches

Differentiated
• Continue to extend high pressure offering in Pressure Control
technology
• Utilise mechatronics to develop new value proposition

• Leverage Services & Group platform to internationalise Pressure Pumping & Pressure Control
Leveraging the
• Increase efficiency and reduce cost through value chain excellence
platform
• Cross-selling full product portfolio across combined customer base

Underpinned by operational excellence, customer intimacy, quality and safety

17
 CONFIDENTIAL

OVERVIEW OF
UNCONVENTIONAL
OIL AND GAS MARKETS

June 17, 2014

F:\Interoffice Information\DTP\Kharma\Libby\PowerPoint Presentations\2013\Generic Pitchbook - Draft\Generic_Pitchbook_v3.pptx 8/26/2013 9:56:39 AM

Unconventionals Have Transformed North American Market
(Dollar amounts in billions)

Unconventionals have revolutionized the North American oil and gas

market.
– U.S. drilling and completion spending of $137 billion in 2013, up from
$26 billion in 2003.

Drilling And Completion Spending¹ – U.S. Land

$200

$160 $151
$137

$120

$80

$40 $26

$0
2003 2013 2019P

¹ Source: Spears & Associates. June 2014 Drilling and Production Outlook. 19
Oil And Gas Production Growth Has Been Prolific

Unconventional development initially targeted natural gas reserves. After 32 years of
stagnation/decline, production started to increase in 2005 and is now at record levels.

U.S. oil production is also experiencing a transformation. Production peaked in 1970
at 10MMbpd and subsequently declined over the ensuing 38 years to 4MMbpd in
2008. Since then it has doubled to 8MMbpd and some analysts believe prior peak
production of 10MMbpd will be exceeded in 2016.

U.S. Natural Gas Production¹ U.S. Crude Oil Production¹

80 Bcfd 14
MMBbls/d
Historical Historical
70
Projected 12 Projected
60
10
50
8
40
6
30

20 4

10 2

0 0

¹ Source: EIA. Simmons Research estimates for projected periods. 20

Unconventional Plays Have Attractive Economics

Threshold prices¹ for unconventional plays are lower than traditional plays.

Unconventional oil plays are driving much of the current development activity
driven by superior economics.

Development of some unconventional natural gas plays also remains economic.

Threshold Oil Prices By Play¹ Threshold Gas Prices By Play¹

Dollars Per MMBtu
$120.00 Dollars Per Barrel $7.00
Unconventional Oil Plays Tight Gas
Shale
NYMEX WTI Oil Futures (12-Month)² $6.00
$100.00 Conventional
$93.59
NYMEX Gas Futures (12-Month)²
$5.00
$80.00
$4.14
$4.00
$60.00
$3.00

$40.00
$2.00

$20.00 $1.00

$0.00
$0.00

¹ Source: Simmons Research. Threshold price defined as the commodity price at which an average well in a play will generate a 10% IRR.
2 Source: Bloomberg. As of June 4, 2014. 21
Gas-directed Rig Counts Have Upside Potential

The U.S. rig count was historically almost 80% natural gas-driven.
– Crude oil-directed rigs now represent 82% of the total U.S. rig count.¹

U.S. natural gas-directed rig count has upside potential as demand increases and
decline rates on existing wells result in tightening supply.
U.S. Rig Count
U.S. Natural Gas Storage³
By Targeted Resource¹
Average Number Of Rigs $/MMBtu Bcf
3,000 $14.00 4,500
Oil Directed Projected 2009 – 2013 Range
Natural Gas Directed HHUB Spot Quarterly Average² 4,000
2012
$12.00 2013
2,500
3,500 2014
$10.00
2,000 3,000

$8.00
2,500
1,500
$6.00 2,000

1,000 1,500
$4.00
1,000
500
$2.00
500

0 $0.00
Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 0
08 08 09 09 10 10 11 11 12 12 13 13 14 14P 15P 15P 16P 16P Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2008: 2016P:
Approximately 80% Gas Approximately 83% Oil
¹ Source: Baker Hughes for historical periods, Simmons ² Source: Bloomberg.
Research estimates for projected. ³ EIA. Natural gas storage as of May 30, 2014. 22
 Well Complexity Continues To Increase

The share of wells drilled horizontally has increased from approximately 7%
in 2002 to approximately 67% currently.¹
– Horizontal rig count has increased from 60 in 2002 to 1,251 currently.¹

Lateral lengths (and frac stages) have continued to increase as E&P
operators work to maximize production per well.
Lateral Lengths In Unconventional Number Of Fracturing Stages Per Well
U.S. Horizontal Rig Count Over Time¹
Shale Plays² In Unconventional Shale Plays²
Number Of Rigs % Horizontal Length Of Lateral (Feet) Number Of Fracturing Stages
1,400 80% 18,000 50
2008 2009 2010 2011 2012 Leading Edge
Horizontal Rig Count 1,251 2008 2009 2010 2011 2012 Leading Edge
1,151 70% 16,000
1,200 % Horizontal Of Total Rigs
1,074 1,102 40
14,000
60%
1,000
12,000
822 50% 30
800 10,000
40%
600 553 8,000 20
456 30%
393 6,000
400
285 20% 10
4,000
181
200 119 10%
60 81 2,000
0
0 0% 0

¹ Source: Baker Hughes Rig Count. As of May 30, 2014.

2 Source: Simmons Research. 23
Drilling Efficiencies Are Driving Increased Well Counts

Enhanced reservoir knowledge and drilling processes are reducing the number of days
needed to drill wells in unconventional basins.
– Results in more wells drilled per rig per year.

Oasis Petroleum drilled 90% of its Q1 2014 wells on pads, compared to 40% in 2012.
Sample Drilling Efficiency Data 2014 Estimated Land Wells Drilled
From Key Crude Oil Plays¹ Scenario
Number Of Land Wells Drilled
60,000
50 +11%
40 50,000 2,320
2,945
30
19
20 15 13 40,000
11 9
10 7

0 30,000
2009 2010 2011 2012 2013 Best 51,665
50 46,400
20,000
40
29 27
30 23 21 10,000
20 15

10
0
0
2013 6.3% YoY 5.0% 2014P
2010 2011 2012 Q3 2013 Best
U.S. Land Rig Count Drilling U.S. Land
50
Wells Drilled² Increase³ Efficiency³ Wells
40 Drilled
30

20 16
13
10
10 6

0
2010 2011 2012 Best

¹ Source: Public filings and publicly available data. ³ Source: Simmons Research. As of March 2014.
2 Source: Spears & Associates. 24
Large Unconventional International Opportunities Yet To Be Developed

Estimated worldwide shale gas reserves: 16,000 Tcf.¹

Total potential worldwide unconventional gas reserves: 32,000 TcF.¹

Total “technically recoverable” shale oil resources: 345 billion barrels.²
Worldwide Shale Reserves²,³

¹ Source: Journal of Petroleum Technology. June 2006.

² Source: EIA. June 2013.
3 Source: Halliburton (September 2011); Schlumberger (November 2009); Journal of Petroleum Technology (June 2006);

Russell , P.L., “Oil Shales Of The World, Their Origin, Occurrence and Exploitation” (1990); and Oil & Gas Journal (December 1980). 25
International Shale Development Is Emerging
International
International land rig count: +9% in 2014.¹
Locations

International locations demanding similar technology used in NAM to develop unconventional resources.
Middle East
Saudi Arabia: Estimated shale gas reserves in excess of 600 TcF.

Oman: BP is pursuing tight shale gas.
Latin America
Onshore rig count expected to grow in 2014, driven primarily by Mexico and Argentina.²

Mexico: Chicontepec and Burgos Shale projects expected to commence in 2014.

Argentina: YPF’s Vaca Muerta Shale expected to increase demand.

Venezuela: Significant shale resources.
Asia Pacific
Australia: Starting development of shale gas in the Cooper Basin.
And Africa

India: Approved shale gas policy in September 2013.

South Africa: Shale gas permits for Shell pending.

Indonesia: Onshore shale gas development (estimated 600 TcF reserves).
China
Shale gas leasing and exploration drilling: Underway, focused on Sichuan Basin and Yangtze Platform areas, led
by PetroChina, Sinopec and Shell. Considerable large-scale horizontal drilling.

Initial drilling: Confirmed abundant shale gas and shale oil potential in prospective basins.²
Russia
Drilling activity: Projected to increase by 7% in 2014.²

Siberia: Shell, Rosneft and Gazprom expected to undertake liquids-rich shale projects.

Increased NOC projects have led to adoption of shale development technologies.
Europe
Romania: Recently reversed its ban on shale gas exploration.

U.K.: Government has offered tax breaks to stimulate shale drilling.

Germany: Government recently proposed to lift its ban on shale gas fracturing.

Poland: Expects to begin commercial production of shale gas in 2014.

Denmark, Lithuania and Ukraine moving toward shale exploration.
¹ Source: Simmons Research estimates.
2 Source: Spears & Associates Drilling & Production Outlook. 26
Frac Market Has Increased Dramatically

Unconventional reservoir completions have resulted in dramatic growth in
North American frac fleet.

Challenging environment in 2012 - 2013 resulted in limited fleet additions
in 2013.

2014 additions expected to accelerate (~1.6 to ~1.7 million horsepower).¹
North American Pressure Pumping Market – Frac Horsepower²
Frac Horsepower
25.0

20.0 18.8
18.0

14.9
15.0

9.9
10.0
7.8
6.3
5.4
5.0 3.7
2.8
2.0 2.2

0.0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

¹ Source: Simmons Research estimates.

² Source: Spears & Associates. 27
Current North American Pressure Pumping Dynamics

A catch-up of frac horsepower supply with demand led to depressed pricing
and utilization through 2012 and 2013.

– However, improving market dynamics driving a strong outlook.

North American Pressure Pumping Market – North American Pressure Pumping Market –
Average Operating Margins¹ Fleet Utilization²
25.0% 125%
21.9%

20.0% 100%
17.7% 90% 87%
83%
78%
14.2% 14.4% 14.0%
15.0% 75% 67%
12.5% 13.0%
11.2%

10.0% 9.2% 50%

5.0% 25%

0.0% 0%
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 2011 2012 2013 Current 2014P

¹ Source: Simmons Research. All margins isolated for relevant segments/geographic regions where possible. Operating margins where
available. Gross margins used for BAS. EBITDA margins for CFW.T and TCW.T.
² Source: Simmons Research. 28
Factors Contributing To Improving Frac Market

Continued shift to horizontal wells (higher unconventional well count).

Longer laterals, higher frac stage counts.

Limited newbuild fleets.

Greater wear-and-tear on equipment as a result of increased service

intensity and higher utilization.

29
Frac Pump Replacement Cycle¹

Simple structure to consider useful life of frac equipment components.
– Shift to 24-hour work, longer laterals, etc. increases wear-and-tear.

Data suggests key frac equipment needs to be replaced/overhauled
between one and three years. Frac pump power end every 1.4 years.
– Meaningful replacement expected for existing fleet in coming years.
Frac Pump Expected Life

Transmission Engine Power End

Days Per Year 365 365 365 Recent

Working Days 264 264 264 Trend From
Hours Per Day 24 24 24 12 Hour
Stages Per Day 6.9 6.9 6.9 Days
Hours Per Stage 2 2 2 Previously
Downtime Between Stages 1.5 1.5 1.5
Hours Operated 13.7 13.7 13.7
Hours Per Year 3,621 3,621 3,621
Useful Life (Hours) 5,000 12,000 5,000

Effective Life (Years) 1.4 3.3 1.4

¹ Source: Simmons Research estimates. 30

Conclusions

Unconventional plays have transformed North American crude oil and
natural gas into a growing market after more than 30 years of
decline/stagnation.
– Attractive economics of unconventional plays have led to increased rig
counts, with natural gas-directed rig counts having upside potential.

Well complexity has increased, with longer lateral lengths and more
fracturing stages per well.

International shale opportunities are in early phases of exploration and
development and provide upside.

Unconventional reservoir completions have driven robust growth in the
North American frac fleet.
– Increased activity and intensifying frac pump wear is expected to lead to
increased equipment needs in the coming years.
31
PRESSURE PUMPING: WINNING IN THE AFTERMARKET
Paul Coppinger
 EXTENDING MARKET LEADERSHIP SINCE 2011
Increased efficiencies through 2012/13 market downturn OE and aftermarket input trends 1($m)
200
• Centralised US manufacturing in Fort Worth
150
• Value chain excellence initiatives increasing efficiencies
• Operating margins maintained above 20% through cycle 100

50
Acquisition of Novatech in Feb-12 expanded offering
• No2 valve and valve seat provider for well service pumps 0
Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1
2010 2010 2011 2011 2012 2012 2013 2013 2014
• Accelerated growth through Weir sales channels
OE Aftermarket
• Comprehensive Weir service network enabled gas to oil switch
• NPI well advanced to develop longer life solutions
PP revenue contribution 2
• Returns > cost of capital in first full year since acquisition $491m $677m
100%

Aftermarket & breadth of offering offsetting frack pump oversupply 80%

60%
• Frack pump market share retained at c.43%
40%
- OE pumps only 6% of revenues in 2013
20%
• Gained share in flow control and aftermarket product lines 0%
2010 2013
- 2013 revenues c.3x 2009 – both trough years Pump OE Fluid ends Flow Control
PPE and other Rental and refurb

Aftermarket and breadth of offering delivering resilient performance through cycle

1. Quarterly input - 2013 constant currency 2. As reported 33
AFTERMARKET STRATEGY AND VALUE PROPOSITION

• 33 service centres placed in all key global oil & gas basins
Global service • ‘One stop shop’ supports repair, inspection, rental and spares
network
• Local presence supports new ‘around the clock’ well completion model

• Dedicated aftermarket sales force

Dedicated • Strong relationships with key decision makers on-the-ground
sales force
• Sales teams in each basin covering key customer field service offices

• Leverage key offering

Product & • Service offering pulls in significant part sales opportunities
service bundling • Bundling agreements pursued during sale of capital equipment and on installed
base of Weir & competitor products

34
UNRIVALLED AFTERMARKET SUPPORT AND OFFERING
Service footprint
• 25 service centres across all major oil & gas
fields in North America
• 8 international service centres
- Brazil, UK, Dubai, Singapore, Australia (three),
Indonesia, China (two locations opening this year)

Customer support
• Pump repair, parts and expendables
• Pump power and fluid end customer stocking programmes
• Flow control repair and inspection, parts and asset
management programmes
• Flow control rental programmes
- FSR, iron strings, manifold skids
• Customer embedded parts and service units

Unmatched pump and flow iron service footprint reduces customer downtime
35
VALUE PROPOSITION FROM
FRACK TO FLOWBACK OPERATIONS

SPM® Safety
Relief
Valve with ARC
System
SPM® frack pump
(power & fluid end) SPM™ Flowline
Novatech™ Valve safety restraint
& seats systems

SPM® Flow control

Mesa™ products
plungers

SPM®
Gladiator™ SPM®
pumps Manifold
trailer

36
 AFTERMARKET SUCCESS
Supporting 24/7 operations mindset Pressure Pumping AM revenue ($m)
600
• Pump expendable trailers embedded on customer frack sites
450
• Fluid end stocks at service network supporting “supply on demand”
300
• Rapid response manufacturing of fluid ends & other key
150
components to shorten lead times (Edmonton & Fort Worth)
0
• Embedded flow control inspection teams working in customer field 2009 2010 2011 2012 2013
support bases
Flow control market share estimates*
Positive customer response supporting market share gains
Weir
• Gained fluid end and flow control market share of 400bps and FMC
200bps respectively since 2012 Halliburton
Forum
• 2/3 of top customers now buy across all four aftermarket categories Others

• Secured multi-year contract from major service company for flow

control, supply and inspection Fluid Ends market share estimates*

Weir
FMC
GDI
Halliburton
Others

33% aftermarket revenue CAGR achieved since 2009, growing every year through the cycle
* 2014 estimates 37
DEVELOPING NEXT GENERATION TECHNOLOGY
Current market solutions sub-optimal for customers Primary components of a frack unit

• Pump, engine and transmission separate individual components

• Customers seeking more efficient & integrated frack solutions

Weir & MTU jointly developing integrated, fit for purpose solution
• Market leaders in pump and diesel engine/transmission technology
Weir Pump
• 3 critical parts of hydraulic fracturing power system integrated
• Will use SPM® next generation frack pump and MTU’s FracPack

Benefits for customers

• Meets demand for more efficient frack solutions
• Tailored for continuous duty in harsh stimulation environments
• Integrated control & monitoring system ZF Transmission

• Integrated service intervals

• Weir’s leading service network leveraged to reduce downtime

MTU Engine

First ever integrated fracking power unit - available mid 2015

38
PRESSURE PUMPING: BUILDING TECHNICAL LEADERSHIP
David Paradis

39
RESEARCH & DEVELOPMENT
Investing in technology to meet changing market needs
Product
9
• 230% increase in direct pressure pumping spend since 2009 Design centres of 33 global launch
• 2014 R&D spend to exceed 1.2% of sales origin product
DCOs Product 8
• On track to meet 1.5-2% of sales investment in R&D New product across qualification
development Weir Group
• Installing £3.5m full-flow test facility in Fort Worth, Texas Detailed 7
design
Weir Advanced Research Centre (WARC)
• World-class fundamental and applied research Technology 6
Technology
centres
(TRL 1-4) centres:
Pumps,
• Over £4m committed by Weir to establish WARC
Technology
Materials, 5
platforms Technology
Flow assessment
• Current projects aimed at next generation technologies
- Develop cheaper coatings as an alternate to stainless steel 4
- Multiphase simulation of fracking pump operation
Fundamental
• Supporting development of Duralast products research 3
Applied
- Unique design to reduce peak stress on valve and plunger research
Weir Advanced
Research Centre 2
Other universities Fundamental
Time research
horizon 1

Expanding product differentiation through investment in technology

40
CASE STUDY
Advancing fluid end systems to improve customer productivity
What it is • Duralast™ Fluid End system developed and launched in 2013
• Integrates technological advancements from WARC
• Offset bore, tapered seat deck, suction covers in packing
• Enhanced manufacturing processes
• Application of advanced materials
What it • Reduced stress concentrations by 30%
delivers • Improves life by nearly 2x in standard materials
• Operating life increased up to 5x
“Ensures 4 to 6x more
Benefits to • Fully rolled-out across frack pump range in 2013 maintenance-free
Weir operation with Weir Oil &
• Over $50m in sales since launch Gas’ SPM® Duralast™
Stainless-Steel fluid ends”
Average Life Expectancy of Fluid End Designs
April 2014

Weatherford’s
RamForceTM 2500
Power Units

2014 YTD 33% of fluid end orders from premium product range
41
CASE STUDY
Increasing well site safety through application of new technologies

What it is • The SPM® Automated Relief Valve Control System, or A.R.C.

System allows for remote, simple and highly accurate control of
nitrogen relief valve offering Control panel

What it • Touch screen panel control Touchscreen User

Interface Panel
delivers • Simple and quick to calibrate
• Allows for recalibration without full
system shut down
• Extremely accurate
• Reduces valve chattering
• Failsafe design for assured protection
• Advanced notice of low N2 pressure
Transducer installed
within main flow line
Benefits to • Being adopted by major exploration and
Weir production companies and oil field
service providers
• Launched May 2014 – strong
customer interest
Regulator Unit
mounted on rugged transport skid

Addressing customer demand for fail safe automated safety systems

42
CASE STUDY
SPM® Heavy-duty TWS 600S well service pump

What it is • Integrates technological advancements that result in a

highly reliable, durable and easier to maintain pump for
cementing, coiled tubing and other applications in the well
service industry
What it • Increased rod-loads up to 15k PSI
delivers • Redundant isolation of the power end to prevent process
contamination
• Improves maintenance through ease of disassembly and
reassembly features
• Advanced lube distribution system for longer life
• Improved durability and loading achieved while at the
same time reducing weight
Benefits to • New version of 600S launched at OTC in May 2014
Weir • Already pump of choice for one of the world’s largest oil
field service companies

Market leading cement pump designed for modern, harsh applications

43
ONGOING AREAS OF DEVELOPMENT
Duralast™ fluid end system development
• New design and application of materials to extend the life of expendables, including valves and seats
• Advanced repair techniques for extended life

Advancing pumping technology – developing pump of the future

• High brake horsepower for continuous duty in hydraulic fracturing
• Integrated smart technology and condition monitoring
• Optimised to work in frack specific power trains

Development of flow control product range

• Deployment of full-life cycle asset management and work process software
• Use of RFID technology to improve asset tracking and predictive maintenance
• Market driving the need for development of 25k and 30k PSI iron; Weir supplied both for a first of its
kind well kill system in the Gulf of Mexico

Extending technical leadership in Pressure Pumping

44
PRESSURE CONTROL: DEVELOPING A TIER-1 OFFERING
Franck Degueure

45
PLATFORM FOR GROWTH IN PRESSURE CONTROL
2013 revenue by product offering
Seaboard – Nov 2011 acquisition provided entry to Pressure Control
markets Wellhead
31% Equipment
• Increased exposure to high-growth unconventional markets Service & Repair
50%
• Gained access to E&P customers, diversifying beyond service
Rental
companies 19%

• Exposure across full well lifecycle in unconventional market

- Activities across drilling, completion and production 2013 revenue by activity

Strong strategic fit delivering benefits 21% Drilling

• Aligned to core competencies – highly engineered critical components, 9%

Completion
high service levels, short lead times, variable operating conditions
70% Production
• Combined offering enabled access to new markets
- Utilising Weir flow control products and Seaboard’s field service
2013 revenue by geography
• Leveraging Weir’s footprint, both in N. America and internationally
3%
13%
Dec-12 acquisition of Mathena extended offering and exposure USA

• Provision of rental equipment & services for managed pressure drilling Canada

International

84%

Adjacent high growth market directly exposed to E&Ps

46
DEVELOPING OUR TIER 1 PRESSURE CONTROL OFFERING

Seaboard™ frack
flow-back and well-
test services
Seaboard™ frack-
tree rental
programme

Seaboard™
production tree
Seaboard™
wellhead systems

Mathena™
shale gas
separator

Mathena™
mud gas
Mathena™ chokes separator
and manifolds
Mathena™ vent Seaboard™ Zip
line drive overs PacSM zipper
manifolds
Mathena™ drilling Mathena™
manifolds eco tank
systems
Mathena™
gas vent igniters

47
Pressure
PRESSURE Control
CONTROLacross
ACROSSthe
THEwell
WELLlife-cycle
LIFE-CYCLE

• Manufacture and sale of full range of wellhead & pressure control

products
Drilling • Mud gas separation rentals (Mathena)
• Subsea overshot product (Seaboard)

Hydraulic • Frack tree, zipper manifold and flowback watch

Fracturing • Complementary to Pressure Pumping products

Completion

Flowback
• Drillout and flowback well test utilising Pressure Pumping flow control
and well products
test

• Manufacture and sale of Christmas trees & valves

Production • Independent product line surface production equipment to support
artificial lift applications

Full product offering supports global unconventional and conventional E&P

48
WELLHEAD AND PRESSURE CONTROL MARKETS
No.4 in $6.5bn North American market Comprehensive service coverage

• USA $5.4bn, Canada $1.0bn

• Current addressable/served market of $3.8bn

Leading position across the well lifecycle

• Drilling - #4 wellheads, emerging provider of subsea overshot
• Completion - #4 frack tree rental provider
• Production - #4 Christmas trees, valves and independent
production equipment

Customers focused on reducing costs and

improving efficiencies
• Pad drilling & multi-well completions
• Focus on cost reduction across capex and opex
• Shift towards lower pressure/complexity oil basins
• Increasing price competition in selected markets Total market size by geography ($bn)

Targeting expansion in large international market $0.4

USA
$1.3
• $3.4bn international market Canada

• Developing wellhead product line to extend markets in Middle East $1.7 $5.4
Asia-Pacific (inc. China)

• First orders secured in Middle East and Australia leveraging Weir’s EMEA
$1.0
footprint Latin America

49
 STRENGTHENING THE OPERATIONAL PLATFORM
Substantial investment in past two years to upgrade Seaboard operational capability
• Private equity infrastructure insufficient to support rapid growth over 2010-2013
• Processes and procedures lagged expectations of a Tier-1 provider Seaboard Revenue* ($m)
250
Customer facing staff increased materially since acquisition
• Deepening service capability – extending to new product lines 200

• Enhanced service quality – documentation and testing of all field operational

procedures 150

• Introduction of Key Account Management and structured sale processes

100
• Strong growth in Permian basin with new customers
50
Internal operating procedures upgraded to support scale of business
• Sales and order planning overhaul under way 0
2010 2011 2012 2013
• Supply chain and inventory management capabilities upgraded
• Improved logistics from manufacturing hubs through districts to customer well sites

Investing to create a robust, Tier-1 platform for growth

50
* Like for like excluding Canada tubular business
SEABOARD – GAINING SHARE IN NORTH AMERICA
% of rigs served1 - US
Gaining share through responsive business model 12%

• Customer centric model with tailored solutions

11%
• Maintaining responsive service and support, low lead times
10%
• Ability to bundle offering to suit customer needs
9%
US: Increased share of rigs served by c.2% to c.11%
• Market share gains in Permian 8%
Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14

• Adding new customers (e.g. Pioneer, Range) % of rigs served1 - Canada

20%
• Increasing share with existing customers (e.g. Cabot, SWN)
18%
• NPI supporting rapid growth of independent product line 16%

14%
Canada: Increased share of rigs served by c.5% to c.17%
12%
• Adding new customers (Seven Generations, Painted Pony) 10%
Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14
• Expanded to Fort St. John, leveraging Weir footprint
Average drilling days2
• Invested in new frack rental fleet

Pad drilling driving more wells drilled per rig 25

• Supporting revenue growth ahead of served rig count growth

15

5
11Q1 11Q4 12Q3 13Q2 14Q1
US CAN
51
1. Weir estimates 2. Pacwest April, 2014
ORGANICALLY EXTENDING PRODUCT AND SERVICE PORTFOLIO

Zipper Frack flowback

Overview • Set of frack valves and other • Process that follows hydraulic fracturing of
piping/valves on a transportable skid to well that releases excess energy and frack
allow multiple wells to be fractured during matter before initial production
a single frack job
• Driven by pad drilling
Key products • Manifold • Pressure Pumping • Flowback Tank
• Pressure Pumping flow control products flow control & • Dual Plug
and FSR valves, FSR Catcher
• SPM® Choke • Flare Stack
Manifolds
• Sand Trap
• Separator
Market size • $300m N. America with >30% CAGR • $2.5bn globally
(5-yr)

Competitive • Enables multi-well fracking • Cost savings achieved by leveraging

simultaneously technology across multiple product lines
characteristics
• Reduces costs by up to 30% • Tier 1 service quality & SOP’s
• One of the first trailer-mounted zippers in • Products meet specific customer
industry requirements
• Improves rig up-time • One complete package
Leveraging existing • Two differentiated designs • Uses Pressure Pumping flow control
products and Pressure Control’s field
technologies • Integrates with Pressure Pumping
service capabilities to enter new markets
customer rigs
• Combined offering enables entry to
additional adjacent markets 52
CASE STUDY
Statoil Bakken Shale Basin

Full tier-1 offering that leverages the complete Group offer for well completions

Application: two well pads with Zipper manifold and Flowback rental services

Weir Product offering (during pressure pumping):

• 4 inch dual Seaboard™ zipper manifold with valves and blocks
• 3x3 inch SPM® integral piping complete with swivels
• SPM™ Flowline Safety Restraints (FSR) on all piping to the well
• SPM® 2 inch manifolds and piping used by Seaboard for frack watch operations

Once pressure pumping is completed Seaboard will set up flowback equipment

for drill-out operations and flowback / well test. Weir product offering is:
• SPM® piping and manifolds operated by Seaboard employees on 24/7 basis
• Plug catchers
• Sand separators
• 4-phase separators and flares

Effective bundling driving Seaboard revenue growth and customer savings

53
PRESSURE CONTROL: EXTENDING OUR OFFERING
John Mathena

54
MATHENA: A LEADER IN MUD-GAS SURFACE CONTROL

Acquisition of Mathena expanded pressure control offering to include drilling and production equipment
• Started in 1990, acquired by Weir in 2012
• Manufacture and rental of mud-gas surface control equipment for drilling and production operations
- Revenue split 80% rental, 20% parts and service
• Bespoke equipment for managed and high pressure drilling
• Differentiated service and product offering

An aftermarket focused, market leading, premium offering business

55
GAINING MARKET SHARE IN FAST-GROWING OIL-RICH PLAYS

North American market share by play

Addressable market of c.$900m
• 70% NAm, 15% EMEA and APAC
Rig Count: 112 Rig Count: 193
• Driven by rig count Market Share: 42% Market Share: 14% Rig Count: 145
Market Share: 46%
- growth of c. 5%* p.a. expected in North America
• Competition localised and highly fragmented Rig Count: 300
Market Share: 43%
• Larger per-well opportunity in gas
- more complex, higher pressure solutions required
Rig Count: 549
Market Share: 22%
Increased share by c.600bps since acquisition
• Currently serving 449 rigs (25% of US land rigs)
Rig Count: 55
Rig Count: 254
• Decline in traditional dry gas basin activity Market share
Market Share: 6%
Market Share: 31%

• Offsetting with rapid growth in emerging oil rich basins, 450

25%
supported by Weir footprint

Market share
400 23%

• Lower revenue per rig opportunity in oil basins Rig count 350 21%
19%
300
Opportunity to optimise revenue per rig 17%
250 15%
• Cross-sell full product portfolio to each customer Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014
No. of rigs served Market Share

Targeting growth through regional expansion and cross selling full portfolio
56
*Simmons and Co
CASE STUDY
Expanding share in rapidly growing Permian basin

Permian market share

Developed region specific sales strategy
• Aggressive rig level sales approach 140 25%

• Opportunity to share existing Weir Oil & Gas 120

Service Centre 20%
100

Market share
Rig count
Ability to source competent resources for rapid 80
15%

growth
60
10%
• Qualified technicians willing to transfer and
40
support the area
5%
20
• Mathena University to support best prospects
hired in the area 0 0%
Jan-2013 Apr-2013 Jul-2013 Oct-2013 Jan-2014 Apr-2014

Increased share by c.19% since Jan-13 No. of rigs served Market share

• Current market share of 22% (123 rigs)

Replicating aggressive growth strategy in Eagle Ford and Bakken

57
STRATEGY FOR GROWTH
Invest in technology and new products
• Expand existing product lines to accommodate larger flow rates
• Integrate instrumentation and controls to develop intelligent technologies
• Invest in green technologies
• Well intervention related products under development
Focus on superior customer responsiveness
• Operational excellence in field operations
• Blackbook digital CRM process tool ensuring best in class data and
customer response
• Optimise rental offering on each rig
International expansion
• Leverage Weir service network to grow in under-represented plays
• Australia opportunities identified – first rental equipment en route

Mathena Blackbook in action

Clear action plan in place to continue market share gains

58
UPSTREAM: INTERNATIONAL EXPANSION
Paul Coppinger
 GROWING INTERNATIONAL PRESENCE
Leveraging a strong global platform Divisional revenue international (£m)

• Expertise in pressure pumping equipment & application 300

250
• Leveraging strong customer relations in NAm internationally
200
• Well established O&G service business presence in EMEA 150
100
• Global expansion supported by Weir Group footprint
50
Strong performance in international markets 0
2010 2011 2012 2013
• Input growing at 14% CAGR through the cycle
MEA Latin America APAC Europe
• Growing every year since 2007
Pressure Pumping revenue international (£m)
• APAC input growing at 64% CAGR since 2010
60
Resilient pressure pumping growth
50
• Tangible benefits from growing shale internationalisation 40

• Input growing at 26% CAGR since 2010 30

• Contributing almost 15% to 2013 input, up from 6% in 2010 20

10

0
2010 2011 2012 2013

MEA Latin America APAC Europe

Replicating NAm pressure pumping leadership in international markets

60
JV’s at 100%, 2013 constant currency
ENHANCING PUMP MARKET SHARE IN CHINA
Current position Pressure Pumping input China2 (£m)
14
• Dongying based JV with Sheng-li Highland (formed Dec-
12
10) manufacturing SPM® pumps
10
• Supporting established base (200+) and growing share 8

• Weir facility in Suzhou now manufacturing fluid ends, 6

pipe and integrals 4

2
Local growth and regional manufacturing hub
0
2010 2011 2012 2013
• Manufacture additional SPM® products at Weir facility
• Opening two new service centres in 2014
• Medium term plan for four further service centres
• China to support growth in other APAC countries
• Manufacture cement pumps to export to APAC & ME

Chinese HP demand expected to grow at 24%1 p.a.

• Expected to accelerate in late 2015/early 2016

Significant investment in local manufacturing and service capabilities

61
1. Pacwest pumping IQ May-2014 2. 2013 constant currency
DEVELOPING A LEADING PRESENCE IN AUSTRALIA
Current position Pressure Pumping input Australia2 (£m)

• 2010 PCS acquisition provided base 8

• Established service centres in Perth, Adelaide, Toowoomba 6

- 2 field bases in Moomba and Innamincka
4
• Pressure pumping customers include service majors
2
• New start up customer has ordered 16 new frack units
0
Growth opportunities 2010 2011 2012 2013

• Creating cohesive upstream portfolio combining all products

• Pressure Control wellhead product sales under way
- frack tree rental fleet in place
• Awarded £6m frack flowback contract with local E&P
- Option for more wells, includes Seaboard & SPM equipment
• Mud-gas surface control sales and rental opportunities identified,
- Rental equipment fleet being established in 2014

Australia HP demand expected to grow at 30%1 p.a.

Leveraging the entire Pressure Pumping and Control portfolio

62
1. Pacwest West May 2014 2. In 2013 constant currency
MARKET TRENDS EXPECTED TO SUPPORT STRONG GROWTH
Vast global shale oil & gas resources International HP forecast1 Global tight gas, shale gas, CBD
production2 (ex NAm)
• NAm largest, but international opportunities significant 16 6

• Tight oil & gas expand the opportunity further 12

4

• Markets still fledging and face geological, regulatory, 8

2
infrastructure & social complexities 4

0 0
Targeted specific opportunities in near-term 2012 2013 2014F 2015F 2016F 2017F 2018F 2011 2014 2017 2020

China Russia OECD Europe Australasia

• Leverage Weir’s presence in China MENA Argentina Russia China
Australia Other Middle East Latin America
• Expand Australia from pressure pumping to other
businesses
• Middle East offers a platform for growing other Recoverable Shale Oil & Gas Rankings 3
product lines Oil (billion barrels) Gas (trillion cubic feet)
N America 80 N America 1,783
• Service centres in Mexico, Brazil, and Argentina
Russia 75 China 1,115
well positioned to leverage emerging Latin American
China 32 Argentina 802
opportunities Argentina 27 Algeria 707
• Gabbioneta to benefit from infrastructure expansion Libya 26 Australia 437
and downstream collaboration Australia 18 S Africa 390
Venezuela 13 Russia 285
WW Total 345 WW Total 7,299

International markets expected to account for 50% of divisional revenues within five years
63
1: Source Pacwest pumping IQ May-14 2: EIA international report 2013 3 : EIA.
SERVICES: MARKET LEADERSHIP IN THE MIDDLE EAST
Vikas Handa

64
BROAD TECHNICAL CAPABILITY AND SERVICE OFFERING

Fully equipped workshops located in key growth regions

Focus on repair, service, maintenance management and

rehabilitation:
• Oil and gas drilling and production equipment
• Pumps, motors, generators, turbines, compressors
• Leverage our OEM pedigree and engineering capability

Field service offering

Service Rotating O&M API PC
BOPs OCTG
• Troubleshooting, installation and commissioning Centre equip’ contracts & valves
Dubai





Broad engineering capability
Iraq





• Hydraulics, aerodynamics, vibration and pressure control Saudi





Abu
Pressure control and OCTG manufacturing and services Dhabi





• Premium threading licenses – VAM, Tenaris, NOV, Baker, Hunting CIS



• API licenses – 5CT, 7-1, 6A, 16A, 16D, 16C Aberdeen


• BOP recertification license from GE Hydril Oman*

Services: market leader in Middle East oil and gas and power equipment servicing
* Currently managing 3rd party facility. In the process of initiating own operations 65
 REGIONAL OVERVIEW
2010-2013 revenue2 (£m)
Dubai
150
270+ employees
#1 in Pressure Control 125

100
Aberdeen 75
90+ employees
50
#1 in Asset Mgmt
25

CIS -
2010 2011 2012 2013
100+ employees
#1 in OCTG
2013 sales by country2
Abu Dhabi1
3%
220+ employees 16% 19%
#1 in Valve services
8%
Weir AMCO1
24%
300+ employees 9%

#1 in OCTG &
21%
Pressure Control c.70% revenue growth since 2010
Iraq Saudi Arabia UAE
Iraq Margins expanded by c.200bps CIS Other ME UK
230+ employees Others
#1 in Rotating Equip

Over 30 years in the MENA region, 1,300 employees

1. 49% joint venture. 2. Revenue includes JV at 100% 66
 CAPITALISING ON A FAST GROWING MARKET
Serving a total market of £1.8bn Sales by product (2013)

• 50% currently addressable, market share of 15% Pressure Control

OCTG & Threading

• Growing at 7% CAGR*
Rotating Euipment
• Highly competitive market Flow Control

- Fragmented competition from OE manufacturers servicing their own O&M Contract

equipment General Fabrication

- End users performing work in-house

- Local in-country players but with limited capability Market by product line (2013)*
• Quality, lead time, reliability and project management critical to success Pressure Control

Strong track record of growth OCTG & Threading

Rotating Euipment
• Growing faster than the end market
Flow Control
• Leveraging on reputation for service excellence and quality O&M Contract
Entering roughly one new market every year General Fabrication

• Expanding current offering by adding new capabilities

• Introducing full offering in each location

Market share of c.15%; extending addressable market

* Source: Douglas Westwood 67
 CASE STUDY
Saudi Arabia

A JV (49% Weir) with Olayan group since 2005 Revenue growth (£m)

40
• Strong presence with 10% share of addressable market
• State of art manufacturing and servicing capability 30

• Reputation for quality 20

• Highest grade for Saudisation (greater than 30%) 10

• Current capacity limitation – expansion under way 0

2010 2011 2012 2013
• Largest OCTG and pressure control repair

Future plans
• Investing in additional machine tools capacity
• Increasing tubular & pressure control capability
• Expansion to support local manufacturing - wellhead,
control valves, pumps

18% revenue CAGR since 2010

JV at 100% in 2013 constant currency basis 68
CASE STUDY
Iraq

Re-entered in 2010 after winning a significant refurbishment 2010-2013 revenue *(£m)

contract with an E&P major 30

• Fully established service centre in Basra, Zubair oilfield area 25

20
• First in South Iraq to obtain ISO 9001, ISO 14001, API licenses
15
• Targeting oil & gas and power opportunities
10
Replicated successful workshop model to win long-term 5
maintenance projects 0
2010 2011 2012 2013
• Expansion plans include purpose-built workshop within North
Rumaila oilfield

Current major maintenance projects

• BP maintenance and refurb contract in Rumaila
• Lukoil – Maintenance of Central Processing Facility in West Qurna 2
(US$98m over two years)
• Shell valve maintenance contract
• Ministry of Electricity pumps maintenance contract

30% revenue CAGR since 2010

*On 2013 constant currency 69
SERVICES: SUPPORTING EXPANSION OF FULL
DIVISIONAL OFFERING IN MIDDLE EAST

Pressure Pumping
• Revenue growing at 25% CAGR since 2010
• First orders for Novatech™ valves and valve seats from Saudi Arabia
• Local manufacturing and repair of SPM® pumps and integrals

Pressure Control
• Growing wellhead regional sales. 2014 year to date sales higher than
whole of 2013
• Increasing regional manufacturing capacity and capability
• New 260,000 sq ft, Dubai manufacturing facility with API certification
• Supporting product development of Seaboard™ wellhead range for
local markets
• Quoting Mathena™ mud-gas separator for new projects

Downstream
• Enhanced local service and manufacturing capabilities

New service centre in development – Dubai expected to open Q4 2014

Leveraging strong regional presence to support divisional globalisation

70
STRATEGY FOR GROWTH IN THE MIDDLE EAST

• Continue geographical expansion, Oman presence recently established

• Further develop existing key account relationships (e.g. BP/Shell/Aramco)
Services
• Leverage experience gained to win additional O&M opportunities
• Expand service capabilities – new state-of-the-art facilities in Dubai, Iraq & Caspian

• API wellhead manufacturing in Dubai

• Expand market coverage for mud-gas surface control equipment
Pressure Control
• Expand API 6A capacity in Saudi and Iraq

• Manufacture fluid ends and complete range of integrals in Dubai

Pressure Pumping
• Support Novatech™ valve and valve seats growth in Saudi Arabia

• Repair and refurbishment of Gabbioneta™ pumps in the region

Downstream • Assembly of Gabbioneta™ pumps in Saudi Arabia

Supporting expansion of the full divisional offering in the Middle East

71
CONCLUSION
Keith Cochrane

72
72
KEY TAKEAWAYS

Aligned to structural growth markets

• Tight oil and shale gas in North America
• High growth regions in Middle East and internationally

Unconventional market leadership extended since 2011

• Pressure Pumping offering extended
• Developed Tier-1 presence in Pressure Control

Clear strategy to grow faster than end market

• Opportunities to enhance aftermarket offering
• Investing in technical leadership
• International expansion opportunities
• Cross-divisional opportunities across oil and gas

Oil & Gas: positioned for sustainable profitable growth

73
POSITIONED FOR SUSTAINABLE PROFITABLE GROWTH

Oil & Gas Minerals Power & Industrial

• Leading upstream surface • Leadership in core mill circuit • Niche provider of engineered
equipment & service provider technologies valves, turbines and pumps
Process critical • Exposed to high temperatures, • Exposed to high wear and • Specialist service requirements
products pressures and abrasion abrasion

• Growth in unconventional drilling • Emerging market growth, • Growing global energy demand
Structural and well complexity urbanisation and industrialisation • Strong emerging markets
growth markets • Growth in shale oil & gas in the • Aligned to higher growth exposure
US and internationally commodities (e.g. copper)
• Expanding into adjacent Pressure • Leading global service network. • Expanding geographic sales
Control markets (e.g. flow back) Growing installed base coverage across global platform
Increasing
• Increasing international market • Comminution platform established • Valves portfolio provides cross-
market share share (Middle East, Asia) (c.£1bn addressable market) selling opportunities

• Developing differentiated product • Unique materials and flow design • Patented and proprietary valve
offering technologies and hydro technologies
Differentiated • Developing innovative pressure • Acquisition of innovative HPGR & • Upgrading ageing infrastructure
technology pumping technologies centrifuge technologies

• Cost reduction and best-cost • Cost reduction and best-cost • Best-cost sourcing, operational
sourcing sourcing excellence
Leveraging the • Strategic acquisitions • Strategic acquisitions • Strategic acquisitions
platform

74
DELIVERING SUSTAINABLE PROFITABLE GROWTH

Process critical THE WEIR GROUP MODEL

products
5%-10% organic revenue growth over the cycle
• Growing faster than our end markets (4%-7%)
Structural growth
markets Top-quartile margins and returns
• Sustainable competitive advantage, value
chain excellence
Increasing • Large aftermarket provides sustainable platform
market share Continued investment to support growth
• Capacity, technology
Leveraging returns through acquisitions
Differentiated • Track record of value enhancing acquisitions
technology
Strong dividend growth
• 30-year track record
Leveraging the
platform

75
QUESTIONS

76
76
 ATTENDEES: WEIR GROUP PLC & EXTERNAL SPEAKER
KEITH COCHRANE
Chief Executive
Keith joined the Weir Group as Finance Director in
July 2006 and was appointed Chief Executive in
November 2009. Following a number of years with
Arthur Andersen, Keith joined Stagecoach Group plc
in 1993. He was appointed finance director in 1996
and group chief executive in 2000. He joined
Scottish Power plc in 2003, where he became
director of group finance. He is a chartered
accountant and a member of the Institute of
Chartered Accountants of Scotland.
GAVIN NICOL
Director of
Operations Support
and Development
Gavin is the Director of Operations Support &
Development based at the Group’s Head Office in
Glasgow. He was previously President of Weir SPM
for two years, based in Forth Worth, Texas. Gavin
joined Weir in 2005 and was Managing Director of the
Weir Pumps business prior to its sale in 2007. Before
joining Weir, he worked for a number of multinationals
including the Terex Corporation, PwC and Coats
Viyella.
JON STANTON
Finance Director
Jon joined the Weir Group as finance director in April
2010. He was formerly a partner with Ernst & Young,
having joined as a graduate trainee in its Birmingham
office in 1988. He was appointed as a partner in its
London office in 2001 with lead responsibility for the
audit of a number of FTSE 100 multinational clients.
He is a chartered accountant and a member of the
Institute of Chartered Accountants in England and
Wales.
JOHN HEASLEY
Divisional Managing
Director, Power and
Industrial
John joined the Group Executive in January 2014 as
Divisional Managing Director for Weir Power and
Industrial. He is based at the Divisional
headquarters in East Kilbride, Scotland. A Chartered
Accountant, he has held a number of senior
financial, commercial and operational roles. John
joined Weir in 2008 as Group Financial Controller
before becoming Valves Managing Director in the
Power & Industrial Division.
COLIN WELSH
Simmons &
Company
Colin I. Welsh (Chief Executive Officer, Simmons &
Company International Limited) led RMD’s energy
services team before it joined with Simmons in 1999.
Previously, he worked as a Chartered Accountant
with Ernst & Whinney and Touche Ross. Colin holds
an MA in Economics, Accountancy and Law and
was awarded a visiting professorship at the Robert
Gordon University in recognition of his professional
standing and his contributions to the business
community.
ANDREW
NEILSON
Director of Strategy
and Corporate
Affairs
Andrew joined the Group Executive in January 2014
as Director of Strategy and Corporate Affairs. He is
based at the Group’s Head Office in Glasgow.
Andrew holds a Masters degree in engineering from
the University of Strathclyde and he is a member of
the Institute of Chartered Accountants of Scotland.
Before joining Weir in 2010, he held a variety of
senior roles with banking, energy and professional
services companies including HSBC, HBOS,
Scottish Power and KPMG. 77
 ATTENDEES: WEIR GROUP PLC
ANDI SIMON
Regional Finance
Director of Weir
Minerals North
America
Andi joined Weir in June 2008 as the Regional
Finance Director of Weir Minerals and North
America. She will become Divisional Finance
Director, Oil & Gas Division in late 2014. Previously,
she was the International Controller at Briggs &
Stratton Corp after heading up the Internal Audit and
Sarbanes Oxley compliance departments. Prior to
this she worked at Anderson, LLP. She holds a BSc
in Accounting and an MBA, both from Marquette
University, and holds a CPA.
ABHISHEK
TANWAR
Corporate Strategy
Abhishek joined Weir in 2012. He is based at Group
Head Office in Glasgow and manages Strategic
Planning and Acquisition Integration. Prior to joining
Weir, he worked at Standard Chartered Bank
focussing on the oil and gas industry. He also spent
five years working in the mineral equipment industry
in Africa and India. A mineral engineer, Abhishek
holds an MBA from Harvard Business School.
RAYMOND
BUCHANAN
Group
Communications
Raymond joined Weir in September 2013 to manage
Group Communications and Public Affairs.
Previously, he spent 14 years with the BBC as a
correspondent, covering a wide range of subjects for
Scottish, UK and global audiences.
ROSS EASTON
Communications
Manager
Ross joined Weir in September 2013 to manage
Group Communications. Previously, he spent seven
years at SSE plc, one of the UK's big six energy
firms where he worked across a range of corporate
communications including corporate reporting, major
projects, crisis management and media relations.
78
 ATTENDEES: WEIR OIL & GAS DIVISION - PRESENTERS
STEVE NOON
Divisional Managing
Director
Steve joined Weir in 2007 as President of Weir SPM
before he became Divisional Managing Director of
the Oil & Gas Division in early 2009. Prior to Weir,
he held the position of President at Schefenacker
Vision Systems, NA and has previously worked with
James Hardie Industries and The Toro Company.
He holds an MBA and CPA.
DAVID PARADIS
EVP, Global Sales
and Service, Pressure
Pumping
David joined Weir Oil & Gas in 2012 as VP of Sales
& Key Accounts. Prior to joining Weir, David had a
successful 22 year career with Tyco International in
their flow control business. David has held roles of
increasing responsibility within sales, marketing &
global strategy development and deployment.
PAUL COPPINGER
President, Pressure
Pumping
Paul joined Weir in 2011 as the President of Weir SPM,
assuming the role of President, Pressure Pumping in
2012. Between 2001-2011, he was Circor
International’s Group President in charge of the energy
segment. Previously, he spent 13 years with Baker
Hughes. He holds a BSc in Petroleum Engineering. He
has been on the Executive Committee of the Petroleum
Equipment Suppliers Association since 2007 and was
elected Chairman of the organisation in April 2014.
VIKAS HANDA
Managing Director
EMEA
Vikas joined Weir in 1999 from KSB. He has served
in various locations and roles across the Group and
now leads seven Weir Oil & Gas manufacturing and
service businesses in the EMEA and CIS region,
overseeing a team of around 1,300 employees.
Vikas holds a Bachelor of Mechanical Engineering
and an MBA.
FRANCK DEGUEURE
President, Weir
Seaboard
Franck joined Weir in May 2014 as President of Weir
Seaboard. Prior to this, Franck held numerous
positions over a 20 year career with Dresser-Rand,
most recently as Vice-President U.S Services, then
as Vice-President Engineered solutions worldwide.
He holds a BSc in Mechanical Engineering and an
MBA.
JOHN MATHENA
President, Weir
Mathena
John joined Weir in 2012 as the President of Weir
Mathena. Between 2005-2012, he provided leadership
as Mathena’s President and Chief Executive Officer.
John transitioned to Mathena from The Williams
Companies (Energy Operating Company) where he
spent five years as the Group Director of Supply Chain
Management. Prior to this, John spent seven years with
Accenture Consulting developing an expertise on
strategy and process design across Fortune 500
companies. He holds a Bachelor of Business
Administration from the University of Oklahoma.
79
 ATTENDEES: WEIR OIL & GAS DIVISION PRESENTERS
BILL CURRIE
Divisional Finance
Director
A Chartered Accountant who has spent his entire
career of some 35 years with the Weir Group.
Previously ran the finance function for the Group’s
interests in water and defence, becoming Divisional
Finance Director for Oil & Gas in April 2008.
ROBERTO
KUAHARA
Executive VP
Operations and
Divisional Value
Chain Excellence
Roberto joined Weir in 2011 as Executive VP of
Operations for Pressure Pumping and more
recently becoming the Divisional Value Chain
Champion. Previously, he worked for Circor Oil &
Gas as Divisional Lead Director. He spent almost
20 years working for Dana Corporation where he
was resident at Toyota Motor Company. He also
worked for Ford Motor Company, Volkswagen,
Scania and Saab in the US, Sweden and Brazil.
ANDREA FORZI
Managing Director,
Gabbioneta
Joined Weir in 2009 as Operations Director of Weir
Gabbioneta before becoming Managing Director.
Previously, he worked for the Formas Group
supplying components for O&G and Power
Generation and he matured 22 years of experience
in the Automotive Industry managing multi-national
companies. He is a Doctor in Engineering.
MARK PICKLES
Regional Director
Asia Pacific
Mark joined Weir in 2010 after over 20 years in
aerospace, power and downstream oil and gas
industries. Regional Director for Weir’s Oil and Gas
division in Asia Pacific overseeing regional growth of
businesses in Australia, Singapore and Indonesia.
He is qualified in aerospace and is currently studying
an MBA at Strathclyde University, Glasgow.
DAVE WARNICK
Divisional VP
Human Resources
Dave joined Weir in 2004 as Divisional Vice
President of Human Resources, Weir Services
Division. He became Divisional Vice President of
Human Resources, Weir Oil and Gas in 2008.
Previously, he spent 12 years with Flowserve and
one year with Aspen Business Services. He
received both his bachelors degree in Human
Resources with a minor in Economics and his MBA
from Utah State University’s Jon M. Huntsman
School of Business.
NAVEEN CHOPRA
Head of Operations,
O&G Services
Naveen joined Weir in 2003 as a Services Division
Development Analyst. He held various operational
and strategic positions within the organisation before
becoming Regional MD for Oil & Gas Services North
Sea. Currently based in Dubai, he looks after Oil &
Gas Services EMEA as Head of Operations. He is a
qualified Engineer with an MBA from London
Business School.
80
 ATTENDEES: WEIR OIL & GAS DIVISION
ROB LYNCH
Divisional VP HSE
Rob joined Weir in 2013 as Divisional Vice
President, EHS. Previously, he held the position of
Corporate Director Global HSE Execution at
Chicago Bridge and Iron. He has also worked with
Bechtel, ABB Lummus and the Washington Group.
He has over 26 years experience and holds a BS in
Biology. He is a CSP with the Board of Certified
Safety Professionals and a CSE with the World
Safety Organization. He is also currently an active
member of the US TAG to ISO PC283 to develop a
global ISO standard for OHS Management Systems.
JACKIE WILKERSON
Divisional Marketing
Communications
Manager
Jackie joined Weir in 2010 after working as a
Branding and Corporate Communications Consultant
for multiple industries including the energy sector.
She is the Marketing and Communications Manager
for the Oil & Gas Division, responsible for brand
management and global communications. She is a
member of Weir’s Corporate Affairs team.
81
Head office
20 Waterloo Street
Glasgow G2 6DB

weir.co.uk
@WeirGroup