INVESTOR PACK

November 2016

THE CONSTRUCTION SECTOR

£103BN*

-30

-15

0

15

30

45

1955 1965 1975 1985 1995 2005

gro

wth

per

cen

tage

construction UK GDP

GREATER CYCLICALITY*

MAJOR FACTORS DRIVING CHANGE

Complexity of installations on all scale as buildings become intelligent.

Increased programme speed and complexity of risks demanding innovation in process, management and collaboration.

Higher safety and sustainability standards demanded by end clients and main contractors.

Higher skills required and serious skill shortages.

Rapid technology innovation.

Collaboration as key to unlocking value.

Historically, construction displays far greater

variation between peaks and troughs than

wider economy. Down cycles remove weaker

players from market and create growth

opportunity for resilient players.

6.5% OF UK ECONOMY*

Central to UK Growth

STILL GROWING

Brexit anxiety has receded. August ONS,

Brick Survey and September PMI survey

showed the industry to be still in a growth

phase but volatile.

*source House of Commons Briefing Paper: Construction

Industry : statistics and policy, October 2015

*source Office of National Statistics

1

WHAT WE DO - BUILDING SERVICES

All the management systems that

monitor and control the building moment

by moment for all purposes including

maintenance and sustainability.

All the power brought into the building, distributed and controlled.

All the data networks integrated with

items that sit on those networks.

All the services in and out of the building - the heating, lighting, ventilation, waste and

their networks and controls.

All the alarm, security and safety

systems integrated and controlled.

We can design projects,

and value engineer them.

DESIGN

We add value, cut cost and

increase build-ability through

expert procurement.

PROCURE

We have in-house, large scale,

world class teams to install the

building services on projects of

every scale across the UK.

INSTALL

We have in-house large scale

world class teams to provide

facilities maintenance services

across the UK.

MAINTAIN

WE INSTALL THE ELEMENTS THAT BRING THE BUILDING TO LIFE…

As buildings become more complex, our part of the project increases. A decade back building services packages represented 15 or 20% of project value now they represent 30-35%. For projects in finance, media, data centre, healthcare and other sectors, the figure often exceeds 40%.

30-40%BY VALUE OF A CONSTRUCTIONPROJECT

-

-

-

-

-

2

22 Bishopsgate

TClarke has been selected to deliver the complete package for

The City of London’s largest tower project.

BAE

We have ongoing work with British Aerospace on a wide range of highly challenging

Facilities Management tasks.

20 Fenchurch St

We installed the UK’s first 33Kv power supply into an office

development.

Bank Station

We’re working on a pioneering contract that focuses and

rewards parties on maximising the added value to end users.

Scottish residential

We are a dominant and innovative player in the sector with many valuable long term

partnerships.

Healthcare

We’re partnering GE, Siemens and Phillips Healthcare to install

complex medical equipment nationwide.

WE’RE VALUED

FOR THE QUALITY

WE BRING IN

MANY AREAS…

John LewisWe’re delivering M&E on the new flagship store in Leeds as

well as working across the Waitrose estate.

3

STRONG MARKET REPUTATION

MARKET LEADING QUALITY AND CAPABILITY TO DELIVER

MARKET LEADING HEALTH & SAFETY CULTURE INGRAINED IN OUR TEAMS

MARKET LEADING TECHNICAL EXPERTISE AND PRACTICAL INNOVATION

MARKET LEADING SCALE AND QUALITY OF OUR RESOURCE

CONFIDENCE OF A PLC WITH FINANCIAL STABILITY

managers

av. length of

service

12 years

Directly Employed

resource

1362

% of leaders

who started as

apprentices

40%

Skilled Operatives

average length of

service

Apprentices

2015 - 2016

174

leaders

av. length of

service

14 years

Directors

average length of

service

13 years

Senior Managers

average length of

service

19 years

10 years

4

STRATEGY OUTLINE

TARGET HIGH VALUE PROJECTS AND LONG TERM RELATIONSHIPS.

MAINTAIN AND GROW CORE M&E BUSINESS.

GROW SPECIALISMS WITH HIGHER MARGINS AND DIFFERENT CYCLES.

LEVERAGE INTEGRATED REGIONAL OPERATIONS TO TARGET HIGHER VALUE, HIGHER MARGIN PROJECTS AND RELATIONSHIPS.

RECENT GROWTH JOURNEY

STRATEGIC GROWTH TO DEVELOPNETWORK OF BUSINESSES.

ACQUIRE LONDON MECHANICAL CAPABILITY.

IINTEGRATE BACK OFFICE SYSTEMS.

MARKET LEADING LONDON ELECTRICAL CAPABILITY.

REGIONAL STRUCTURE OFFERING FULL M&E CAPABILITY ACROSS UK.

GROWING RANGE OF SPECIALISMS.

GROWTH STRATEGY

1990

2010

2013

2015

2015

2000's

2016 COMPLETE CONSISTENT TRADINGIDENTITY ACROSS UK.

5

WHAT WE DO - BUILDING SERVICES2015 REVENUE FIGURES

M&E ContractingOur core business nationwide

£170m

Transport

Dedicated rail and airport division

£20m

Intelligent Buildings

High quality in house ICT services

£6m

Prefabrication

In-house precision prefabrication services

£8m

Mission Critical

Critical data, power and ultra-complex projects

£14m

Residential & Hotels

Industry leading one-stop solutions

£38m

Facilities Management

A variety of specialist FM services

£22m

Design & Build

In house full service capability

£22m

Healthcare

Range of integrated specialist skills

NEW

6

NATIONWIDE COVERAGE2015 REVENUE FIGURES

1

2

3

45

6

78

9 10

1112

13

14

6. DERBY

7. PETERBOROUGH

8. HUNTINGDON

9. ST. AUSTELL

10. PLYMOUTH

11. LONDON

12. HARLOW

13. COLCHESTER

14. SITTINGBOURNE

Scotland

£16.2m

North

£41.8m

Central &

South West

£41.8m

London &

South East

£129.1m

3. NEWCASTLE

4. LEEDS

5. CHORLEY

1. ABERDEEN

2. FALKIRK

7

WELL BALANCED ORDER BOOK97% of the order book is covered by major relationships with principal contractors

Multiplex Construction

Europe Limited

29.5% of OB | £96,860,835

Lend Lease Construction

(EMEA) Ltd

13.6% of OB | £44,861,845

Kier Group

3.9% of OB | £12,933,666

Stanhope Plc

3.9% of OB | £12,751,841

Bowmer & Kirkland Limited

3.4% of OB | £11,037,158

Willmott Dixon

Construction Ltd

3.5% of OB | £11,641,365

Top Value Relationships£96,860,835

£44,861,845

£12,933,666

£12,751,841

£11,641,365

£11,037,158

£10,782,562

£10,675,528

£10,585,714

£9,130,008

£8,298,672

£7,082,592

£5,995,384

£5,531,049

£4,730,683

£4,692,311

£4,450,388

£4,282,480

£3,941,139

£3,704,664

£3,683,459

£2,641,978

£2,624,878

£2,551,262

£2,478,511

£2,423,033

£2,414,568

£2,040,723

£2,018,809

£1,947,864

£1,742,672

£1,454,389

£1,398,116

£1,205,430

£1,140,428

£1,086,191

£0 £25,000,000 £50,000,000 £75,000,000 £100,000,000 £125,000,000

Multiplex Construction Europe Limited

Lend Lease Construction (EMEA) Ltd

Kier Group

Stanhope Plc

Willmott Dixon Construction Ltd

Bowmer & Kirkland Limited

Europe

Dragados SA

Sir Robert McAlpine Ltd

ISG Group

H Malone & Sons Ltd

Mace Group

St George (Berkeley Group)

McLaughlin & Harvey Construction Ltd

Wates Construction Limited

Interserve Construction Ltd

Selfridges Retail Ltd

Midas Retail Ltd

Avant Homes (Scotland) Ltd

Cala Homes Group

BAE Systems Operations Ltd

Barratt Homes Group

Vinci Construction UK Ltd

McLaughlin & Harvey

Costain Ltd

Kershaw Mechanical Services Limited

Hill Partnerships Ltd

Philips Healthcare Ltd

Taylor Wimpey Scotland

PJ Carey (Contractors) Ltd

Robertson Homes Ltd

Midas Construction Ltd

Knight Harwood Ltd

ITV Plc

Springfield Fuels Ltd

Morgan Sindall Plc

8

END USER CLIENTS UP TO £2M94.6% of the order book consists of major blue chip clients and public sector end users

Robertson Homes

Ltd

Taylor Wimpey

(Scotland)

Deutsche Bank

Knight Harwood Ltd

Defence Infrastructure

Organisation

ITV Plc

John Lewis

Partnership

Springfield Fuels

Ltd

University of

Derby

£1,742,672

£1,712,998

£1,518,397

£1,398,116

£1,395,798

£1,247,087

£1,140,526

£1,140,428

£717,095

£639,547

£583,023

£579,277

£522,327

Robertson Homes Ltd

Taylor Wimpey (Scotland)

Deutsche Bank

Knight Harwood Ltd

Defence Infrastructure Organisation

ITV Plc

John Lewis Partnership

Springfield Fuels Ltd

University of Derby

Miller Homes (Scotland)

City Hospitals Sunderland

Northamptonshire County Council

Waitrose Limited

City Hospitals

Sunderland

Northamptonshire

County Council

Waitrose Limited

Miller Homes

(Scotland)

9

END USER CLIENTS £2M - £4M94.6% of the order book consists of major blue chip clients and public sector end users

£3,941,139

£3,704,664

£3,427,443

£2,641,978

£2,551,262

£2,505,158

£2,426,268

£2,390,744

£2,155,912

£0 £1,000,000 £2,000,000 £3,000,000 £4,000,000 £5,000,000

Avant Homes (Scotland) Ltd

Cala Homes (Scotland)

Land Securities Plc

Barratt Homes (Scotland)

McLaughlin & Harvey

Docklands Light Railway Ltd

Ongar Academy

University of Cambridge

Plymouth University

Avant Homes

(Scotland) Ltd

Land Securities Plc

McLaughlin &

Harvey

Ongar Academy

Plymouth University

Cala Homes

(Scotland)

Barratt Homes

(Scotland)

Docklands Light

Railway

University of

Cambridge

10

END USER CLIENTS £4M - £10M94.6% of the order book consists of major blue chip clients and public sector end users

BAE Systems Plc

Bloomberg

Great Portland Estates

Plc

Stanhope Plc

Berkeley Group Plc

Rolls Royce Plc

£9,536,558

£7,752,860

£6,520,620

£5,995,384

£5,978,266

£5,531,049

£4,450,388

£0 £2,500,000 £5,000,000 £7,500,000 £10,000,000 £12,500,000

BAE Systems plc

Stanhope Plc

Bloomberg

Berkeley Group plc

Great Portland Estates plc

Rolls Royce plc

Selfridges Retail Ltd

Selfridges Retail Ltd

11

£56,200,000

£41,127,868

£40,660,835

£35,603,184

£15,609,897

£14,774,379

£10,782,562

£10,233,754

£0 £15,000,000 £30,000,000 £45,000,000 £60,000,000

Lipton Rogers

Public sector

Multiplex Construction Europe Ltd

Lend Lease Construction (EMEA) Ltd

London Underground Ltd

Commercial projects

Westfield Europe Ltd

Generali Saxon

Brookfield Office Properties

END USER CLIENTS £10M +94.6% of the order book consists of major blue chip clients and public sector end users

Lipton Rogers

London Underground Ltd

Westfield Europe Ltd

Public sector

Lend Lease

Construction (EMEA)

Commercial projects

Generali Saxon

Brookfield Office

Properties

12

FINANCIAL HIGHLIGHTSHALF YEAR RESULTS TO 30TH JUNE 2016

13

REVENUE

42.9

57.8 62.5

25.9

26.6 30.1 20.5

17.4

23.4

9.8

6.9

9.3

-

20.0

40.0

60.0

80.0

100.0

120.0

140.0

2014 2015 2016

London & SE Central & SW North Scotland

14

OPERATING MARGIN

2.4%

4.3%

0.2%

(0.8% )

0.7%

4.1%

0.3%

2.3% 2.3%

2.9%

1.3% 1.4%

(2.0% )

(1.0% )

-

1.0%

2.0%

3.0%

4.0%

5.0%

Scotland North Central & SW London & SE

2014 2015 2016

15

CASH MOVEMENTS

6.7

2.1

(0.1 )

0.1

(6.3 )

(0.1 )

(1.1 )

1.3

(8.0 )

(6.0 )

(4.0 )

(2.0 )

-

2.0

4.0

6.0

8.0

Opening net cash Operating profit - continuing Operating profit - discontinued

Non cash movements Working capital movements Other movements

Borrowings Dividends Closing net cash

16

MOVEMENTS IN SHAREHOLDER EQUITY

19.6

1.8

(0.1 ) (0.1 )

(8.5 )

(1.1 )

1.3

12.9

(10.0 )

(5.0 )

-

5.0

10.0

15.0

20.0

25.0

At 1 January Underlying profit before tax Non-recurring items Discontinued operations

Movement in pension deficit Dividends Tax and other movements At 30 June

17

BALANCE SHEET AT 30TH JUNE 2016

18

MAJOR SHAREHOLDERS

Shareholders with Notifiable Interests (over 3% of issued share capital) as at 7th November 2016

% Holding

Miton Asset Management 17.66

JPMorgan Asset Management 7.93

Walker Crips Stockbrokers 5.32

Hargreaves Lansdown, stockbrokers 5.01

Barclays Stockbrokers 4.81

TD Waterhouse, stockbrokers 3.71

Henderson Global Investors 3.4

19

Tender: Submission August 2016Location: East LondonProject: 21 Buildings – 1st of 5 phasesValue: £10mStart: 2017

BUSINESS

OUTLOOK Royal Albert Dock

Tender: Submission November 2016Location: PlymouthProject: Museum & LibraryValue: £3.5mStart: 2017

Plymouth HistoryCentre

Tender: Submission October 2016Location: EdinburghProject: 142 Luxury ApartmentsValue: £4mStart: 2017

Donaldson’s College

Tender: Submission September 2016Location: EdinburghProject: New Build Research ComplexValue: £2.7mStart: 2017

Darwin Building

Tender: Submission November 2016Location: LondonProject: Electrical Commercial Building

with Retail on Ground FloorValue: £9.6mStart: 2017

100 Liverpool Street

Tender: Submission September 2016Location: Longfield, KentProject: New Build Annex housing MRI

and CT ScannerValue: £1.2mStart: 2017

BMI Fawkham ManorPrivate Hospital

Tender: Submission August 2016Location: LondonProject: Electrical PrefabricationValue: £11mStart: 2016 - 2019

Hanover Square

20