Delivering a

more sustainable
world
Investor Day

14 May 2024
 Disclaimer
The information in this presentation about Worley markets and persistent disruption in supply chains.
Limited, the entities it controls (Group) and its
activities is current as at 14 May 2024 and is in While the Group has prepared this information based
summary form and is not necessarily complete. It on its current knowledge and understanding and in
should be read together with the Company’s good faith, there are risks and uncertainties involved
Appendix 4D, Interim Financial Report for the half- which could cause results to differ from projections.
year ended 31 December 2023 and other The Group will not be liable for the correctness
announcements lodged with the Australian Securities and/or accuracy of the information, nor any
Exchange. The financial information contained in the differences between the information provided and
Interim Financial Report for the half-year ended 31 actual outcomes, and reserves the right to change its
December 2023 has been reviewed, but not audited, projections from time to time. The Group undertakes
by the Group’s external auditors. This presentation is no obligation to update any forward-looking
not intended to be relied upon as advice to investors statement to reflect events or circumstances after the
or potential investors. Investors should seek qualified date of this presentation, subject to disclosure
advice before making investment decisions. obligations under the applicable law and ASX listing
rules.
This presentation contains information that is based

Stronger together on projected and/or estimated expectations,

assumptions or outcomes. Forward-looking
This presentation may include non-IFRS financial
information. The non-IFRS financial information is
statements and estimates are not a predictor of unaudited and has not been reviewed by the Group’s
Worley acknowledges and pays respect to the future performance and are subject to a range of risk external auditors. Non-IFRS financial information
past, present and future Traditional Custodians factors. The Group cautions against reliance on any should not be considered as an indication of or
of Country throughout Australia and extends forward-looking statements and estimates, and notes alternative to an IFRS measure of profitability,
that they are uncertain because of factors such as the financial performance or liquidity.
this acknowledgement and respect to First
current economic climate, the geopolitical
Peoples in all countries in which we operate. environment, the impact of sustainability, climate Authorized for release by Nuala O’Leary, Group
change and the energy transition, ongoing economic Company Secretary.
Artwork “Tracks We Share” by Contemporary volatility, uncertainty created from volatility in global
Indigenous Artist Lauren Rogers, for Worley.

Worley – Investor Day May 2024 2

Agenda

Delivering our purpose: Investing for growth:

Our business of the future and drivers of growth The building blocks driving improved earnings over time
over the short, medium and long term Tiernan O’Rourke
Chris Ashton, CEO Chief Financial Officer

Unlocking value and securing growth: Technology solutions for the new world:
Insights into macro trends, strategic priorities Expanding our existing process technology portfolio
and our competitive edge Laura Leonard
Sue Brown Group President, Technology Solutions
Executive Group Director, Sustainability
Andy Hemingway
Executive Group Director, Growth
Our business in focus:
Enabling the strategy through Addressing the challenges and opportunities ahead
Transformation: Mark Brantley, Group President, EMEA APAC and Project Delivery,
Reimagining project delivery and the role of HSE & Quality
Karen Furlani, Executive Group Director, Risk
automation and AI Vikki Pink, Chief People Officer
Adrian Smith Mark Trueman, Group President, Americas
Executive Group Director, Transformation

Session break Q&A

Worley – Investor Day May 2024 3

Delivering our purpose

Our business of the future and drivers of

growth over the short, medium and long term

Chris Ashton
CEO

Worley – Investor Day May 2024

Key messages

As a leading global provider of innovative sustainability solutions,

1 we're seeing long term growth trends from structural changes in our end
markets.

Our discipline in execution is evident in our results. We’re consistently

delivering on our strategy as demonstrated by increased earnings,
2
margins, and cash flow in line with our expectations. Our strategic
investment in growing sustainability solutions continues to yield accretive
returns.

We’re building a consistently performing business into the future.

We have a clear path to increased value for our stakeholders as we
3
continue to develop enhanced delivery solutions to reshape our industry
and build on our differentiated position.

Worley – Investor Day May 2024 5

Business update Factored Sales Pipeline up 14% YTD as at 31-Mar-24
• Sustainability-related work represents 82% of factored sales pipeline
• Factored sales pipeline growth excluding Venture Global, up 8% YTD as at 31-Mar-24
• Traditional work in the factored sales pipeline steady as at 31-Mar-24 YTD
Factored Sales Backlog5 Aggregated • 67% expected to be awarded in next 12 months, vs 66% at H1 FY24
Pipeline1 revenue • Sole-sourced work remains steady at 40% of contract wins

Total business is growing Backlog up 5% YTD as at 29-Feb-24

• Backlog is $14.8b as at 29-Feb-24, up from $14.1b at 30-Jun-22
• Sustainability-related backlog is now 53%
↑35% ↑10% ↑12% • New wins and scope increases were greater than backlog delivered, however this was
CAGR2 CAGR CAGR
partially offset by some scope reductions

Headcount is 49,650, up from 49,200 at H1 FY24

• GID utilization6 is ~15%, up from 14.2% at H1 FY24
Jun-21 Mar-24 Jun-21 Feb-24 Jun-21 Dec-23 • Staff utilization remains above target

Sustainability-related work3 growing at a Venture Global CP2 Project

faster rate • The impact on FY24 of the delay in the project achieving Final Investment Decision
has been mostly offset by accelerated engineering work to prepare the project for
construction commencement
↑64% ↑44% ↑42% • The majority of the project remains in the factored sales pipeline until the project
CAGR CAGR CAGR
achieves FID. Limited early scope is included in backlog

Outlook
• The outlook presented at H1 FY24 results4 remains consistent with what we’re
Jun-21 Mar-24 Jun-21 Feb-24 Jun-21 Dec-23 expecting for FY24, subject to no deterioration in current market conditions
1. Factored for the likelihood of the project proceeding and being awarded to Worley
2. Compound annual growth rate
3. Refer to page 47 for our definition of sustainability-related work Worley – Investor Day May 2024 6
4. All forward looking statements, including the FY24 Group outlook, remain subject to no
material deterioration in current market conditions. See page 2 for more information
5. Backlog definition provided on page 51
6. % of work through GID
 Why invest in Worley?
We’re positioned to capitalize on
this trajectory
Market forces Because of our:

Leading position
Structural changes Enables us to benefit from the energy transition and demand shifts
Substantial industry structural changes • Early mover advantage with low competitive intensity, high barriers to entry
• Earnings diversified across customers, geographies and ECR markets
to benefit Worley • Innovative solutions across traditional, transitional and sustainable 1 work as our
customers bridge the present and the future

Consistent performance
Our actions create value – driving earnings and margin expansion
Prolonged cyclical upturn • Growing our natural share of the market and prioritizing higher margin work
• Low risk contract style with ~80% of work reimbursable and no material LSTK
Investments into the energy transition are at
an early stage, with significant step change Global reach
still expected Facilitates delivery at scale with over 49,600 people
• Able to mobilise and scale to deliver on the energy transition
• Strong and diverse base of long term customers with growing proportion of new customers

Strong capital position

Creates foundation for growth plans to be executed
• Strong balance sheet with good cash flow
• Disciplined capital allocation

Worley – Investor Day May 2024 7

1. Refer to page 47 for our definition of sustainability-related work

What sets us apart

We believe our comparative

advantage is:

Our people Our platform Our solutions

Inspired people, values-based culture Exceptional performance and delivery Innovative and differentiated solutions

Global footprint High proportion of Greater diversity Early-mover Digitally enabled Process Scaling and
allows us to attract professionals across end advantage in high solutions focused technology integrating new
and retain talent to (88%) with markets than our growth, new on efficiency and solutions with a technologies to
work on projects transferable skills global competitors, markets, with a reducing levelized focus on reducing deliver world first
anywhere in the across traditional with improving higher proportion of cost to support environmental commercial size
world and sustainability- margins in backlog sustainability- improved project emissions sustainability-
related work and pipeline related work economics related projects

Worley – Investor Day May 2024 8

Strategic wins 2 1
8

5 9
7
10
Awards announced since H1 FY24
4 Sustainable
6
3

~$9b ~$5b
Transitional

Traditional
Wins YTD Sustainability-related wins YTD
as at 31-Mar-24 as at 31-Mar-24

Diversity of our customers is expanding. We’re partnering

with our long term customers and building relationships with ~50% ~75% >80%
new and emerging customers in growth markets. Some of of our revenue comes of our aggregated of our customers partner
from top 20 revenue is in OECD with us for a mix of
these new customers are entering our top 30 customers customers countries1 traditional and
sustainability-related work

1 Shell Renewable Hydrogen Plant 7 Strategic alliance between Nano One and Worley for battery materials
technology solution
2 Air Products Hydrogen Plant Module Fabrication
8 Statkraft’s carbon capture unit for waste incineration Pre-FEED
3 Aramco General Engineering Services
9 Feasibility study for a wind and renewable hydrogen project in Canada
4 Environmental Remediation Program PMC for Kuwait Oil
10
FEED for Cerilon Gas to Liquids Facility2 to convert natural gas to a
5 Pembina Redwater Complex RFS IV expansion unique high-performance synthetic product
6 ENGIE Pipeline expansion
1. Non-OECD countries include Morocco, Saudi Arabia, UAE, Oman, China. In these locations, our customers are major corporations with international business. Worley – Investor Day May 2024 9
2. This GTL facility will convert natural gas to produce a nominal 3,816m3 (24,000 barrels) per day of unique, high-performance synthetic products. These products include Group III+ base
oils (mineral oils derived from natural gas), ultra-low sulphur diesel, and naphtha.
3. Refer to page 46 for our definition of sustainability-related work.
 Shell Hydrogen

Case studies

Sustainable | Energy Sustainable | Resources Traditional | Energy

Shell| Detailed design, procurement & Umicore| EPCM| Canada Aramco | Project management &
construction support | Netherlands Battery materials manufacturing plant Engineering Services | Saudi Arabia
Services contracts win for Shell’s Holland Aramco renews General Engineering Services
Hydrogen 1 project We’re providing EPCM services for Umicore’s battery
Plus contract
materials manufacturing plant.
We’re supporting Shell with the delivery of Europe’s The plant will produce both cathode active materials We’ve been awarded a General Engineering Services
largest renewable hydrogen project located in the Port and their precursor materials (pCAM) which are key contract for an additional 5 years. This continues our
of Rotterdam. components in rechargeable batteries for electric long-standing relationship with Aramco.

The 200MW electrolyzer will be powered by renewable vehicles. It is expected to be the first of its kind in Our scope includes the provision of project
energy from an offshore wind farm that is currently North America. By 2030, Umicore expects the plant to management and engineering services to support
under development. It will produce around 60,000 kg produce battery materials supporting approximately Aramco’s capital programs in Saudi Arabia across
of hydrogen per day, enough to keep 2,300 hydrogen one million electric vehicles a year. onshore, green and brownfield projects in gas, oil
trucks rolling. and new energy infrastructure.

Worley – Investor Day May 2024 10

Unlocking Value and
Securing Growth

Insights into macro trends, strategic

priorities and our competitive edge

Sue Brown
Executive Group Director, Sustainability

Andy Hemingway
Executive Group Director, Growth

Worley – Investor Day May 2024

Our disciplined execution of our strategy has ensured
we’re well on our way to delivering on our ambition

Where we Play How we Play How we’ll Win

Our Portfolio Our Signature Strengths Our Value Creation Focus

We’re leading by supporting We deliver value to customers through We’re executing a portfolio of
customers in traditional hard to Worley delivery and technology- enterprise-wide initiatives to create
abate markets to decarbonize while focused signature strengths that and capture value for our
shaping the future of our markets in differentiate us from the competition. shareholders
sustainable development

Our Ambition
We will be recognized Target 75%1 of aggregated Double-digit,
globally as a leader in revenue from sustainability- medium term EBITA CAGR1
sustainability solutions related work by end of FY26

Worley – Investor Day May 2024 12 12

1. All forward-looking statements, including the FY2024 Group outlook, remain subject to no material deterioration in current market conditions. Worley – Investor Day May 2024 12
We’re seeing strong
fundamentals driving
long term growth in the
sectors we serve
Geopolitical shifts Climate change and Digital and
sustainability technological
transformation

Megatrends
Urbanization Energy and
and population electrification
growth

Our response

We’re aligned with our We’re partnering with our We’re providing the link
customers and are positioned customers to drive down costs between cross-sector
to adapt to the changing market and deliver lifetime value for customer needs as sectors
dynamics their assets increasingly collide and integrate

Worley – Investor Day 2024 13

The direction of travel for the energy
transition is clear.
The pace of progress and pathway
will be driven by the energy trilemma:
how to balance energy security,
affordability and sustainability over time

Worley – Investor Day May 2024 14

 Where How How
we Play we Play we’ll Win

Where we play
We’re actively managing our portfolio of businesses. We do this by pursuing growth in a structured way in target
markets with significant growth opportunities at higher margins

Mature Developing

Energy
Lower carbon Integrated Combustion Midstream Low-carbon Renewable Networks Nuclear Power to X Carbon
intensity oil gas energy energy hydrogen energy and energy SMR capture
infrastructure storage
(Cross sector
capability)
S8
Chemicals
Petrochemicals Chemicals Refined Specialty Sulphur Low-carbon Direct Air Ammonia / Plastics
fuels chemicals recovery fuels Capture Methanol recovery
and re-use

Resources
Bulk Fertilizers Resource Precious Energy Battery Water
commodities infrastructure metals transition materials
materials

Key growth focus areas in the short to medium term

Worley – Investor Day May 2024 15
 Where How How

Key growth markets where we have a we Play we Play we’ll Win

competitive edge
We are a leader in traditional, transitional and sustainable markets

Energy Chemicals Resources

Integrated gas Lower carbon Low-carbon Carbon Low-carbon Petrochemicals Energy transition
intensity Oil hydrogen capture2 fuels materials3

the why?
Established, Gaining momentum, Shifting dynamics,
material markets significant growth growing market share

Solving the energy trilemma: Accelerating and enabling the path Meeting rising demand for materials to feed the
security vs. cost vs. sustainability to net zero energy transition (incl. copper, batteries, light
metals and sustainable chemicals)

Worley – Investor Day May 2024 16

Note 1- Approximate values based on market sources and relevant Worley geographies (Rystad, S&P Global, Global Data) USD; 2 – Includes direct air capture; 3 – includes battery materials
 Where How How

Our signature strengths drive we Play we Play we’ll Win

differentiated value to our customers

People and values- Exceptional performance Innovative and

based culture and delivery differentiated solutions

Our diverse talent of ~50,000 highly Knowledge premium gained from an Customer-centric ethos drives us to innovate
skilled and energized people works extensive portfolio of projects, allowing us and develop solutions that create value for
globally to support our customers on their to address complex, first-of-a kind customers across the entire asset lifecycle
projects anywhere in the world, with challenges
transferable skills across traditional and Complementary Consulting, Engineering and Full
sustainability-related work Strong safety and delivery record Delivery solutions facilitates alignment across
proven through our 50+ year history project phases, helping drive speed to market
Our values-based culture drives across a range of frontier and established and efficiency
excellence, underpins innovation and, geographies
Process technologies and digital solutions that
provides an environment that energizes &
Globally integrated operations allows build on our core expertise to extract project
empowers our people
us to serve customers economically using value for customers
high value delivery centers (e.g., 7,500+
We form deep, trust-based relationships
employees in GID)
with our customers, making us the
partner of choice for their portfolio of
projects
Worley – Investor Day May 2024 17
 Where How How

We have a range of strategic levers to drive we Play we Play we’ll Win

value creation for our shareholders and customers

Develop (build, buy, partner) technologies

Continue evaluating and investing in new New growth Technology that are complementary to our core and
horizons for growth across nascent engines Solutions critical for scaling in the energy transition
markets
People and
culture

Scale differentiated solutions and capabilities

Scaling new Expand and optimize how we use Global
supporting our early positions in establishing Scaling GID Integrated Delivery centers so we can serve
businesses customers seamlessly across the globe
growth markets

Energized and
Expand our consulting offerings by Growing empowered people Portfolio Actively manage our portfolio to ensure
turning our knowledge, data, and insights with the capability accretive returns and higher capital
consulting to deliver our purpose
management
into clustered solutions productivity
operating in a values
inspired culture that
unlocks brilliance
through belonging,
connection and
Increase productivity and project delivery Digital innovation Operating Maintaining our low cost base and being
efficiency through automation and enablement disciplined about adding cost as we grow
leverage
generative AI. Enabling ~50,000 people
to deliver like ~75,000+

Worley – Investor Day May 2024 18

Delivering projects that are shaping
our industry

Direct air
From Ambition to Reality1 capture We’re delivering reimbursable EPC for the world’s
largest Direct Air Capture project with Oxy’s
Broadening value Broadening 1PointFive using standardized delivery solutions
value
Shift from ‘economic’ to to bring down the levelized costs
‘social-economic-environmental’

Energy
Enabling options Enabling transition
options We’re delivering EPCM services for Northvolt’s battery
Address uncertainty through materials
development of all technologies cathode active material facility as part of its
gigafactory development in Sweden

Standardization Standardization
Replicate and build in parallel
Low-carbon
hydrogen
Delivering a building block approach to large scale
Create partnerships
Governments set the objectives and
green hydrogen projects through modular,
Create
partnerships form partnerships standardized products and digitalized solutions

The digital accelerant Indigenous

Digital platforms create the trust We’re involved in three partnerships with Indigenous
The digital Partnerships
to move forward accelerant groups. For example, our partnership between
Mikisew Cree First Nation, Fort McKay First Nation,
and Worley Consulting – in Alberta, Canada.

Worley – Investor Day May 2024 19

Note 1 - ‘Ambition to Reality’ series developed by Worley and Princeton University Andlinger Center for energy and the environment
Enabling the Strategy
through Transformation

Reimagining project delivery and the role

of automation and AI

Adrian Smith
Executive Group Director, Transformation

Worley – Investor Day May 2024

The role of Transformation

Growth
Identify
strategic
opportunities

Delivering critical elements of the strategy

Transformation through a disciplined and programmatic approach

Growing our Digital Scaling new

Operations consulting business enablement businesses

Embed into
operations

Worley – Investor Day May 2024 21

 37 active CCUS projects across

Built accretive businesses four continents (Asia, Australia,

Europe, North America)
Our $100m strategic investment These projects are being designed
to capture or transport a total of

$6.8b CCUS over 90 million tonnes per year of

What we’ve gained: CO2
Contract value of
• Built accretive businesses wins to date since
1 Jul 2021
• leading position in accelerating markets
• differentiated solutions that have created high barriers to entry Up from $6.1b at
H1 FY24
• capability building through strategic hires and workforce upskilling
• repeatable process for testing new markets- scaling, incubating Awarded ~140 projects YTD to
31-Mar-24 representing over
US$12 billion project TIC
Battery
materials
What’s next:
• Assess continuation of an annual organic investment program
• Focus on investments that will yield accretive returns 80%
• Scale and integrate new businesses Factored sales
pipeline CAGR
• Evaluate next horizons to further our differentiation and since 1 July 2021
retain our high-barriers to entry, e.g. digital enablement
• Maintain disciplined and proven incubation process
Awarded ~150 projects YTD to
31-Mar-24 representing over
Low-carbon US$126 billion project TIC
hydrogen under study or execution

Worley – Investor Day May 2024 22

1. Our strategic investment opex is included in underlying earnings and identified in the income statement as strategic costs
2. Total open pipeline, factored for likelihood of project proceeding and being awarded to Worley
Worley Consulting

Building on our existing footprint, we’re

expanding our business globally

We’re growing our offerings using digital enablement

and applying alternative commercial models

Our solutions translate our knowledge, data

and insights to address our customers’ needs
across the asset lifecycle
Worley – Investor Day May 2024 23
Fast tracking our
digital enablement

• Moving fast and early

• Value focus for our customers and us
• Open idea generation with centralized
prioritization, development and
deployment
• Solution and ecosystem formation with
key partners
• Responsible and ethical AI: safe, secure
and governed

Our Advanced
Development Lab (ADL)
Worley – Investor Day May 2024 24
Value creation horizons as we evolve our
digital enablement through the ADL

3 Margin accretive by
aligning our commercial
models to appropriately
share in the additional
2 Boost labour value provided to our
productivity, customers
supporting our
customers to Enable our ~50,000
Enhance operational achieve lower people to deliver as
cost efficiencies levelized costs and 75,000+
1 which will drive project economics
down our cost base

improved gross margins | top line growth | supercharge our people

Worley – Investor Day May 2024 25

What’s next Reshaping the future
Reimagining project delivery and the Working with our customers and partners
role of automation and generative AI presents a significant opportunity

We’re developing use cases under the

following 6 opportunity areas:

AI driven design, optimization & automation

AI accelerated Business Case & scenario exploration

AI enhanced knowledge sharing & info retrieval

AI generated written content & insights

AI enhanced supplier integration & collaboration

AI generated estimates and benchmarking

Worley – Investor Day May 2024 26

Investing for Growth

The building blocks driving improved

earnings over time

Tiernan O’Rourke
Chief Financial Officer

Worley – Investor Day May 2024

Our deliberate actions have established a solid foundation on
which to build long term growth

Sustaining
Cash-generative,
double-digit
low-capital intensity medium-term
business, What we said we’d EBITA CAGR1 What we’ve
Achieved double
consistently ambition
deliver over time achieved
digit to date
EBITA CAGR
delivering improved
earnings while
Created growth through organic investment in $6.8b in wins in key
investing in long focus areas
strategic growth areas
term growth

Leading positions in the markets we serve Delivered improved EBITA% in

and in new growing markets line with outlook

Sustained margin improvement through disciplined focus on Sole-sourced wins

bidding and delivering work, increased productivity and GID utilization 40%

Maintain recurring benefits from cost savings program and $375m annualized savings,
discipline focus on cost base as we grow provides operating leverage leverage under 2.0x

Cash conversion within target

Capital management - supports our growth – able to generate free cash range
for investment, dividends, acquisitions and debt reduction Divestments aligned with strategy

Worley – Investor Day May 2024 28

1. All forward looking statements, including the FY24 Group outlook, remain subject to no
material deterioration in current market conditions. See page 2 for more information.
Key building blocks maintain our comparative
advantage + support margin upside

Digital enablement and

Technology Solutions

• On-going investment in
productized process technology
Operational leverage solutions
and productivity
• On-going investment in
New work being won automation, generative AI
Market growth and at higher margins • Increased productivity per person • Alternate commercial models to
increased market share account for increased AI adoption
• Increased proportion of work while maintaining low risk
• Growing our consulting business delivered via automation appetite
• New growth engines
• High % of professional services • Increased % of GID used to
deliver projects
• Growing our natural share of
the market • Disciplined approach to bidding
and delivering work (i.e. hurdle • Disciplined approach to
• Expanding our addressable rates to maintain focus on higher maintaining cost base as we grow
market in strategic growth margin, value adding work;
areas monitoring win rates, delivery
excellence to protect margins)
• Continue to develop our full
delivery capability in targeted
countries • Adaptive portfolio management

• Scaling new businesses Worley

Worley––Investor
InvestorDay
DayMay
May2024
2024 29
We’ve established a range of signposts to
help guide our progress

Digital enablement and

Technology Solutions

Operational leverage
and productivity
New work being won
Market growth and at higher margins
increased market share

We see growth and margin Good conversion rate to These leading indicators
• Early mover advantage 1 improvement in our factored 2 backlog2, improving 3 support earnings and margin3
in growth areas sales pipeline1 backlog margin rate improvement over time
Gross margin
4E +1 0 60 .00
trend for factored
sales pipeline
High demand for our
3.5 E+10

55 .00

solutions
3E +1 0

2.5 E+10
50 .00

Gross margin
2E +1 0 45 .00
trend for
1.5 E+10
backlog
40 .00

Investment step
1E +1 0

• 5E +0 9
35 .00

change still to come 0 30 .00

Dec-21 Dec-22 Dec-23 Dec-21 Dec-22 Dec-23 Dec-21 Dec-22 Dec-23

Worley – Investor Day May 2024

1. Factored for the likelihood of the project proceeding and being awarded to Worley, data shown per Worley’s Half year results 2024 Worley – Investor Day May 2024 30
2. Backlog definition provided on page 51, data shown per Worley’s Half year results 2024
3. Median gross margin % trend (excluding procurement), data shown per Worley’s Half year results 2024. Note GM trend doesn’t take
into account specific operational overhead efficiencies and other margin improvement initiatives.
We’ve established a range of signposts to
help guide our progress

Digital enablement and

Technology Solutions

Operational leverage
and productivity4
New work being won
Market growth and at higher margins
increased market share

Professional GID utilization

services revenue % (%)1 Digital enablement3
# of use cases deployed
FY22 FY23 H1 FY24 FY22 FY23 H1 FY24
# of hours saved

Technology Solutions3
Professional
EBITA/Head # of new solutions developed
services
count2 # of contracts won with new solutions
headcount
H1 H2 H1 H2 H1
FY23 H1 FY24
FY22 FY22 FY23 FY23 FY24
Worley – Investor Day May 2024 31

1. % of work through GID; 2 – EBITA/headcount metric has seasonality between H1 and H2, red line shown is a trend.; 3 – Metrics will mature over time; 4 – Refer to broker toolkit for underlying data on trend graphs
Investing for the future
Our capital management position supports our growth plans with good liquidity,
the maintenance of strong credit ratings and access to well-priced debt capital

Our capital management

Capital priorities for FY25 architecture
Funding our growth Operating productivity Capital productivity

Maintain leverage at or below 2.0x and funding 85-95% cash conversion

transformative investments through free cash flow
Lease Payments

Acquisitions Proceeds from divestments

We’re focused on investments that are aligned with our Maintenance Capital

strategy and will deliver accretive returns such as Technology Minimum liquidity target
Solutions and niche bolt-ons aligned with key growth areas.
Strong balance sheet

Free cash flow

Organic investment
Net debt Organic
The level of organic investment will be assessed annually, the Acquisitions
reduction
Dividends
investment
cost of which, will be incurred in underlying EBITA

Worley – Investor Day May 2024 32

Technology Solutions
for the New World

Expanding our existing process

technology portfolio

Laura Leonard
Group President, Technology Solutions

Worley – Investor Day May 2024

The energy transition is creating opportunities for
new and innovative process technology

Customers
Our customers have changing needs and our customer
base is expanding as new markets are developing

Opportunity
The result is white space for new process technology
entrants across all the markets we serve

Response
We are targeting a suite of technologies aligned with our
strategy and key growth markets

Approach
Build | Buy | Partner

Worley – Investor Day May 2024 34

 We’re leveraging our combined experience
in process Technology Solutions

Our proprietary solutions

deliver value to our
customers & shareholders
via:

100 years 60 years

Technology licenses

Proprietary equipment &

catalysts

EPF delivery
1200+ 300+
designed and licensed gas treating and
sulphur recovery units worldwide
Engineering packages sulphuric acid & chlorine electro-
chemical plants installed

>60% Lifecycle services 5,000+

of the global existing sulphur recovery units global base of proprietary
units carry a Worley Comprimo design equipment installed
Worley – Investor Day May 2024 35
Designing a technology portfolio for the ‘new world’
We are targeting a suite of technologies in highly attractive subsectors aligned with our strategy to
become a material part of Worley executing build, buy and partner approach

Where we play

Mature Developing

Energy
Lower carbon Integrated Combustion Midstream Low-carbon Renewable Networks Nuclear Power to X Carbon
intensity oil gas energy energy hydrogen energy and energy SMR capture
infrastructure storage
(Cross sector
capability)
S8
Chemicals
Petrochemicals Chemicals Refined Specialty Sulphur Low-carbon Direct Air Ammonia / Plastics
fuels chemicals recovery fuels Capture Methanol recovery
and re-use

Resources
Bulk Fertilizers Resource Precious Energy Battery Water
commodities infrastructure metals transition materials
materials

Worley – Investor Day May 2024 36

Expanding our Technology Portfolio

Commercializing Pseudo Expanding Specialized Scaling new battery

Dry Gas System Equipment Fabrication materials technology
Integrated Market │ Established, Nuclear Market │ Gaining momentum, Battery Market │ Shifting dynamics,
gas steady growth significant growth materials
SMR growing market share
Approach │ Build Approach │ Build Approach │ Partner

PDG is a series of subsea, inline, piggable devices • Expanded fabrication shop by ~50% • Entered strategic alliance with Nano One
that enable the economic development of gas • Obtained ASME nuclear certification Materials Corporation2
discoveries at step-out distances of up to 300km, • Growing into near adjacencies such as heat • Will collaborate to develop, market, license, &
almost double what can be achieved with exchange equipment for Nuclear SMR rapidly deploy cathode active material production
conventional approaches facilities and corrosive services in emerging facilities for the energy storage, transportation
• Lower capital cost & lower emissions1 markets and mobility sectors.
• Demonstrated at scale, TRL 8 with technology
• The One-Pot process makes high quality cathode
verification certificates
materials at a lower cost than traditional
processes, with reduced environmental impact.

37

1When compared to subsea compression

2TSX:NANO
Our Business
in Focus

Addressing the challenges and

opportunities ahead

Karen Furlani Mark Brantley

Executive Group Director, Group President, EMEA &
Risk APAC and Project Delivery,
HSE & Quality

Mark Trueman Vikki Pink

Group President, Americas Chief People Officer

Worley – Investor Day May 2024

 Regional updates

Americas EMEA APAC

Backlog Backlog

We’re currently delivering some of the

highest profile energy projects in the
$5.8b The performance of the company and of
our region shows how we’re making
$9.0b
US – Stratos and CP2. We also building as at 29-Feb-24 excellent progress toward our Ambition as at 29-Feb-24
vs $4.9b at 30-Jun-23 and achieving many of our goals around vs $9.2b at 30-Jun-23
the largest battery material project in growth but also around our people, safety
North America with Umicore which is a and project delivery.
Factored sales pipeline2 Factored sales pipeline2
testament to Worley’s expertise driving as at 31-Mar-24 as at 31-Mar-24
large-scale projects and commitment We have a record level of opportunities in
to delivering sustainable solutions. the open pipeline, which allows us to be
80% more selective about what we sign up to.
69%
Our customers don’t have to award
projects to Worley. They do so because of
the efforts of our people to meet their
31%
20% expectations, wherever they may be on
their energy transition journey.

Sustainability Traditional Sustainability Traditional

Mark Trueman Mark Brantley

Group President, Group President,
Americas EMEA APAC

Worley – Investor Day May 2024 39

1. Refer to page 47 for our definition of sustainability-related business.
2. Factored for the likelihood of the project proceeding and being awarded to Worley.
Our people and our culture

People Risk
Attraction and At a macro level,
retention Worley is managing
• Global voluntary turnover three key risks:
We have a relentless focus on continuing the trend Culture is critical from a risk perspective.
• attraction and retention of
attracting the right people and right downwards across the Good governance processes, procedures highly skilled resources to
capabilities to deliver to our customers
business supported by a and monitoring combined with living our meet demand
strong People Experience values. We reinforce a culture of acting
and to retain them through providing • inflation and supply chain
Diversity, Equity and ethically and responsibly. Doing the right disruption and their impact
the right experience. Inclusion thing, innovation and culture of delivery on the economics of
excellence are all part of our values. This business
We continue to expand our wellbeing • Strengthening and
broadening our diversity, is fundamental as we grow and respond • ongoing geopolitical
efforts prioritizing healthy people, equity and inclusion actions to a shifting market and growing tensions affecting normal
environments and relationships. This to focus on race & customer base. operations of global
ethnicity, and disability & markets.
year, we’ve built on our existing neurodiversity Our risk appetite remains unchanged. We’re actively focusing on
foundations, taking targeted actions We’re focused on risk-adjusted returns mitigating these risks every
Wellbeing at Worley
including the launch of our Wellbeing • Launched our Wellbeing and understanding and appropriately day, recognizing they will
mitigating these risks. We apply this lens remain an ongoing challenge
hub and better equipping leadership to hub including a focus on
for businesses globally.
support their people.
mental health to all our business - how we win work,
• Respect@Work - Respectful deliver work and allocate capital.
Workplace Behavior Policy
and program launched
globally
Vikki Pink Karen Furlani
Chief People Officer
Executive Group Director,
Risk

Worley – Investor Day May 2024 40

Key messages

As a leading global provider of innovative sustainability solutions,

1 we're seeing long term growth trends from structural changes in our end
markets.

Our discipline in execution is evident in our results. We’re consistently

delivering on our strategy as demonstrated by increased earnings,
2
margins, and cash flow in line with our expectations. Our strategic
investment in growing sustainability solutions continues to yield accretive
returns.

We’re building a consistently performing business into the future.

We have a clear path to increased value for our stakeholders as we
3
continue to develop enhanced delivery solutions to reshape our industry
and build on our differentiated position.

Worley – Investor Day May 2024 41

&

42
Supplementary
information

Worley – Investor Day May 2024 43

Energy
Sector Our strategy and
themes differentiators
• Immediate pressures from the global energy crisis conflict • We’re developing innovative solutions across traditional,
have eased from highs in 2022, but energy markets transitional and sustainable work as our customers
remain susceptible to short term volatility bridge two worlds. We’re narrowing our focus in
markets (countries, subsectors) aligned with our
• There is continued global emphasis on need to shift from
strategy and ambition
molecule based energy to electron based energy to
achieve net zero, but project economics remain challenged • We’re well positioned to help our customers drive down
in some cases. levelized cost for their projects through enhanced
• The pace of progress and pathway will be driven by the productivity, supporting our customers to achieve lower
energy trilemma: how to balance energy security, levelized costs and project economics
affordability and sustainability over time
• We’re bringing our cross-sector expertise to meet
• Gas projects, including LNG and regassification are
customer needs (e.g. lower carbon energy for green
Energy investment trends by expected to play a significant role in the energy transition
steel / ammonia)
IEA scenario • Customers are shifting their focus in the near term to
developing lower carbon intensity basins to maintain • We’re geographically positioned to work anywhere in
5
capacity the work with our customers, and to leverage our GID
Trillion USD

4
• Affordable carbon abatement is being built into mega- and SMEs to deliver value and excellence
3
projects to support emission reduction targets
2 • We partner with our customers and the wider supply
1 • Majority of clean energy projects (outside of renewables)
chain to deliver value and efficiency
0 remain challenged by economics, (e.g., low carbon
2023 2030 2030 hydrogen, CCUS, nuclear), requiring strong drive to lower • Complementary Consulting, Engineering and Full
STEPS NZE levelized costs Delivery solutions facilitates alignment across project
Scenario Scenario phases, helping drive speed to market and efficiency
Source: IEA

Worley – Investor Day May 2024 44

 Chemicals
Sector Our strategy and
themes differentiators

• Chemicals • We’re working closely with some of the world’s

• Chemical demand expected to increase, driven by the largest chemical companies to help decarbonize
energy transition, increasing population and their operations through energy efficiency, bio-
consumption per capita based and recycled carbon feedstocks,
electrification, carbon capture and alternative
• Long-term outlook presents a countercyclical investment
energy sources (e.g. low-carbon hydrogen or
opportunity. Players in Middle East and North America
nuclear power)
leveraging low-cost feedstock options to meet growing
demand in Asia • Our strong relationships with key customers,
who continue to invest through short-term
Fuels
headwinds, positions us well
• The energy transition will result in lower refined fuel
Chemicals market – regional investments demand over the medium to long term, although there • We’re focusing on low carbon fuels projects and
is still uncertainty about timing and impact exploring alternative chemical production
800 pathways with customers
• Regulatory shifts prioritizing climate policy and lower-
600 carbon fuel production, directing investments towards • Seeing opportunities with global customers who
Million USD

decarbonization of assets in medium-long term are aligned with our Purpose, emphasizing
400 sustainable aviation fuels, blue and green
• Ammonia and methanol (green and blue) projected to be
200 ammonia, and e-methanol projects
significant contributors to lower carbon fuels,
decarbonization of fertilizer and chemicals market • We see growing opportunities with major
0
2023 2024 2025 2026 2027 • Increased customer interest in chemical pre-cursors, petrochemical customers investing in Middle East
gas-to-chemicals and green chemicals production and North America
Africa Asia Pacific Europe & UK LATAM Middle East North America & Mexico
pathway programs
Source: IHS Markit
Direct air capture
• DAC investment is supported by buy-in from hard to
abate industries (e.g. aviation) Worley – Investor Day May 2024 45
 Resources
Sector Our strategy and
themes differentiators
• Market fundamentals remain robust, driven by demand • We’ve built capacity and capability in the right
for metals essential for the energy transition, the need commodities, in the right markets, with the right
to decarbonize mining operations, and a desire in customers
western economies to bring greater diversity to the
• We’re working with new and existing customers
supply chain and reduce global reliance on China
that are investing faster than the overall market
• Current market is experiencing fluctuations, due to
• We build strong positions in early project phases
supply and demand imbalances and cost inflation.
that enables us to support our customers into
Beyond the short term, demand will exceed supply and
project delivery and then through to completion
copper, aluminium and bimetallic (aluminium and
copper) will see significant growth We have a leading position in emerging markets,
Sector themes •
e.g. in battery materials, we’ve been awarded
• Access to capital is most critical; international,
Annual metals demand forecast ~140 projects YTD to 31-Mar-24 representing
diversified miners (e.g., BHP, Rio Tinto) are well
20 positioned due to access to traditionally higher profit over US$12 billion project TIC
Million metric tons

15 commodities
• Customers expected to follow strict capital discipline,
10
with near-term focus on maintaining higher profit
5 commodities, modernization of existing portfolio and
0 pivot to copper
• Government interventions are steadily increasing (e.g.,
export restrictions, resource nationalism), which will
likely result in shifts in future investments and deal
activities
Source: BloombergNEF

Worley – Investor Day May 2024 46

46
How we define our sustainability-related work
We categorize our overall sustainability-related as the sum of Sustainable work and Transitional work.
The combination of market segment and solution is used to determine how we categorize the work.
We refer to all work falling outside of sustainability-related group (Sustainable + Transitional) as Traditional.
The combination of market and solution is
used to determine the type of work.
Established solutions Transformative solutions
Offerings that improve sustainability outcomes such as
Core offerings such as process plant, pipelines, and mine We refer to all work falling outside of
recycling, carbon capture, utilization and storage (CCUS), and
development
sustainability-related groups as Traditional
electrification and energy efficiency

Traditional market segments

e.g. Oil, traditional technologies for chemicals and Traditional work Transitional work
resources

Transitional market segments Transitional work Sustainable work

e.g. Integrated gas, waste to energy or chemicals

Sustainable market segments

e.g. Hydrogen (blue, green), renewable energy, Sustainable work Sustainable work
plastics recovery, energy transition metals
Sustainability-related work
Notable exceptions:
• Coal is categorized as Traditional
Sustainability-related work
• CCUS applied to oil sands operations is categorized as
Transitional. All other oil sands is Traditional.
• Sulphur recovery solutions are classified as transitional
Worley – Investor Day May 2024 47
47
Factored Sales Pipeline and Backlog
Factored Sales Pipeline1 Backlog

14.8 14.8 14.1 14.8 14.8

4E +1 0 60 .00
14.1
3.5 E+10

18% 3.6 4.2 4.4

17%
55 .00

7.2 7.0
3E +1 0

7.4
2.5 E+10
50 .00
2.8 3.4 3.5
33% 37% 2.0 1.9
2E +1 0 42% 45 .00

82% 1.3
7.7 7.2 6.9
1.5 E+10

47% 23% 40 .00

5.4 5.6 5.9
1E +1 0

46% 40% 35 .00

at Jun-23 at Dec-23 at Feb-24 at Jun-23 at Dec-23 at Feb-24

5E +0 9

53% 44%
0 30 .00

Energy Chemicals Resources

Traditional Transitional Sustainable
Dec-21 Dec-22 Dec-23 31-Mar-24

Traditional work

Sustainability
3.1
Sustainable Transitional (1.1)
(2.0)

14.8 14.8

General notes: Worley - Half year results 2024 48

General notes:
1. Factored for the likelihood of the project proceeding and being awarded to Worley 1. Backlog definition provided on page 51
2. Values shown are in $billions
 Number of wins in different project phases for
sustainability-related1 work in FY24 as at 31-Mar-24
Sustainability-
related1 project The fan depicts the work we do across all phases within our sustainability-related sub-
sectors. As projects progress through later phases, the project size increases significantly.

wins Wins by project phase2 Q1 FY24 Q2 FY24 Q3 FY24

Operations and

Low-carbon hydrogen
17 18 11
• We continue to win a significant maintenance

number of early-phase projects in Construction and 56 77 84

commissioning
sustainability-related work2
Detailed design 139 200 239
• We’ve seen an increase in FEED and
detailed design wins in Q2 and Q3 Early FEED 151 171 155
phases
FY24, which is an early indicator of
Chemicals Water Feasibility 412 337 349
projects moving to later phases
Total wins 775 803 838
• Total number of sustainability-related
wins in Q3 FY24 is up on Q2 FY24
Number of wins in different project phases as a percentage of total

100%

75%

50%

25%

0%
Q1 FY24 Q2 FY24 Q3 FY24 Q1 FY24 Q2 FY24 2 Q3 FY24 2
Sustainability-related1 work Traditional work
1. Refer to 47 for our definition of sustainability-related business.
2. Number of wins for sustainability-related projects sorted by project phase. Feasibility FEED
Worley - Half year results 2024 49
Detailed design Construction & commissioning
Operations & maintenance
Glossary
$, $m, $b – Australian dollars unless otherwise stated, Australian GID - Global Integrated Delivery
millions of dollars, Australian billions of dollars GTL – Gas to liquids
APAC - Australia, Pacific, Asia & China gm – Gross margin
AI – Artificial Intelligence k – thousand
CAPEX - Capital expenditure LNG - Liquefied Natural Gas
CAGR – Compound Annual Growth Rate LSTK – Lump Sum Turnkey
CCUS - Carbon Capture, Utilization and Storage NPAT – Net Profit After Tax
CO2 - Carbon Dioxide NPATA – Net Profit After Tax excluding Amortization on
DAC – Direct Air Capture acquired intangibles
DSO - Days Sales Outstanding OECD - Organisation for Economic Co-operation and Development
EBITA - Earnings Before Interest, Tax and Amortization on acquired intangibles O&M - Operations & Maintenance
EBITDA - Earnings Before Interest, Tax, Depreciation and Amortization on OPEX - Operating expenditure
acquired intangibles pCAM - Precursor Cathode Active Material
EMEA - Europe, Middle East & Africa PCP - Prior Comparative Period
EPC – Engineering, Procurement, Construction PMC - Project Management Consultancy
EPF – Engineering, Procurement, Fabrication PP – Percentage Points
EPCM – Engineering, Procurement and Construction Management SDGs – Sustainable Development Goals
ESG - Environmental, Social, and Governance SMEs – Subject Matter Experts
EU - The European Union UK – United Kingdom
FEED - Front-end engineering design US – United States
FID – Final Investment Decision YTD – 1 July 2023 to 31 March 2024
FX - Foreign Exchange
FY – Financial Year

Sustainability Encompasses those elements of our environmental, social and governance (ESG) performance. It also refers to our activities supporting our customers to meet
sustainability objectives on their projects. As part of our Ambition, we provide disclosures on sustainability-related work.
Lower carbon Lower carbon denotes methodologies and technologies that effectively reduce carbon emissions and mitigate the discharge of greenhouse gases, thereby fostering
environmental sustainability and combatting climate change.

Horizons
Short term (1 to 2 years) Our short-term horizon on the immediate financial planning period. Worley – Investor Day May 2024 50
Medium term (2 to 5 years) Our medium-term horizon is focused on our strategic business plan in line with our ambition.
Long term (5 to 10 years) Our long-term horizon is focused on global trends and our net-zero aspirations.
Backlog definition
Backlog is the total dollar value of the amount of revenues expected to be
recorded as a result of work performed under contracts or purchase/work
orders already awarded to the Group. Backlog is not in constant currency
and is reported using the year end exchange rates.

With respect to discrete projects an amount is included for the work

expected to be received in the future. For multi-year contracts (i.e.
framework agreements and master services agreements) and O&M contracts
we include an amount of revenue we expect to receive for 36 months,
regardless of the remaining life of the contract.

Due to the variation in the nature, size, expected duration, funding

commitments and the scope of services required by our contracts and
projects, the timing of when the backlog will be recognized as revenue can
vary significantly between individual contracts and projects.

Worley – Investor Day May 2024 51

Registered office:
Level 17, 141 Walker Street
North Sydney NSW 2060
Australia
T: +61 2 8923 6866
E: [email protected]
E: [email protected]

Worley Limited
ABN 17 096 090 158

worley.com

Worley – Investor Day May 2024 52