1. Cape plc © 2012 Interim Results 30 August 2012 Joe Oatley Chief Executive Richard Bingham Chief Financial Officer

2. Cape plc © 2012 Important notice  This document has been prepared by Cape plc (the Company) solely for use at presentations held in connection with the Interim Results announcement of 30 August 2012. The information in this document has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoever arising from any use of this document, or its contents, or otherwise arising in connection with this document.  This document does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any shares in the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or investment decisions relating thereto, nor does it constitute a recommendation regarding the shares of the Company.  Certain statements in this presentation are forward looking. By their nature, forward looking statements involve a number of risks, uncertainties or assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward looking statements. These risks, uncertainties or assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward looking statements contained in this presentation regarding past trends or activities should not be taken as representation that such trends or activities will continue in the future. You should not place undue reliance on forward looking statements, which speak as only of the date of this presentation.  The Company is under no obligation to update or keep current the information contained in this presentation, including any forward looking statements, or to correct any inaccuracies which may become apparent and any opinions expressed in it are subject to change without notice. 2

3. Cape plc © 2012 Headlines Challenging first half, but solid year-on-year revenue growth of 11% UK revenue increased by 12% (9% organic) to a record £153m largely driven by additional offshore maintenance work for North Sea operators Adjusted PBT of £12.0m (H1 2011: £34.0m) Adjusted PBT impacted by: –Operational weakness on the Arzew project in Algeria –Margin reduction in the Far East / Pacific Rim –Anticipated margin contraction in Middle East Substantial forward order book of £920m (30 June 2011: £830m) Interim dividend maintained at 4.5p per share (H1 2011: 4.5p) 3

4. Financial Review

5. Cape plc © 2012 Summary income statement 5 £m H1 2012 H1 2011 Revenue 371.6335.0+11% Adjusted operating profit 16.138.5-58% Adjusted operating margin 4.3% 11.5%-720 bps Other items (0.6) (2.6) JV loss (0.3) Profit before interest & tax 15.2 35.6 -57% Net finance charges (3.3) (5.0) Unwind of discount relating to asbestos provision (2.0) Profit before tax 9.928.6 -65% Tax charge (2.0) (6.0) Profit after tax 7.922.6-65% Adjusted PBT 12.034.0-65% Adjusted diluted earnings per share 7.020.9-67% Dividend per share (p) 4.5 Maintained

6. Cape plc © 2012 Adjusted PBT bridge H1 2011 to H1 2012 6 Reported at constant currency

7. Cape plc © 2012 Cash Flow 7

8. Cape plc © 2012 Working Capital 8 Working capital increase of £25.4m in H1 Net working capital to sales ratio increased to 20%, ahead of the Group’s historical 13% - 14% range driven by: –a specific large project in Asia –investment in materials in the Arzew contract –an across the portfolio increase in working capital investment in the Gulf/Middle East Region as major projects ramp up –Seasonal outage programme in the UK Region (expected to reverse in H2)

9. Cape plc © 2012 Balance Sheet 9

10. Cape plc © 2012 Balance Sheet and funding Balance sheet remains robust Anticipate usual seasonal H2 working capital inflow £220m syndicated debt facility in place until June 2015 provides…. ample headroom both within facility and facility covenants Interim dividend maintained 10

11. Operating Review

12. Cape plc © 2012 UK G/ME CIS/NA FE/PR Order Intake 12 Key contract awards  Multidiscipline site service award from SABIC UK  Environmental services for Total on Elgin platform in North Sea  Campaign work for BP on a number of North Sea assets  Multiple contracts on the Barzan gas project in Qatar  Insulation and coating services award from BAPCO  Multidiscipline service contracts for the Bayu-Undan field in the Timor Sea £150m £75m £21m £148m H1 Group order intake £372m

13. Cape plc © 2012 Order Book 30-Jun-1231-Dec-1130-Jun-11 £920m £830m £920m 13

14. Cape plc © 2012 United Kingdom 14 H1 2012 H1 2011Growth Revenue153.0 136.212% Adjusted Operating profit14.6 12.814% Adjusted Operating margin %9.5% 9.4% Note: Includes acquisitions Revenue by type Maintenance Projects Revenue by market  Robust revenue growth primarily driven by offshore sector  Organic growth in operating profit of 11%  Strong performance from environmental business  York Linings acquisition performing ahead of expectations, including $6m award in Abu Dhabi Offshore Oil & Gas Onshore Oil & Gas Power Chemical Steel Other

15. Cape plc © 2012 Gulf / Middle East 15  Strong revenue growth driven mainly by onshore oil & gas projects in the Southern Gulf  Anticipated margin reduction due to maturing nature of the market  New opportunities being explored in India and Iraq Revenue by type Maintenance Projects Revenue by market H1 2012 H1 2011Growth Revenue75.5 66.114% Adjusted Operating profit12.3 16.1-24% Adjusted Operating margin %16.3% 24.4% Offshore Oil & Gas Onshore Oil & Gas Chemical Other

16. Cape plc © 2012 CIS, Mediterranean & North Africa 16  Revenue reflects anticipated reduced activity levels in Kazakhstan  Strong margin expansion  Azerbaijan project awards delayed Revenue by type Maintenance Projects Revenue by market Offshore Oil & Gas Onshore Oil & Gas H1 2012 H1 2011Growth Revenue24.1 28.3-15% Adjusted Operating profit4.6 4.3+7% Adjusted Operating margin %19.1% 15.2% Notes: 1. Excludes Arzew project in Algeria (£14.0m) provision 2: Includes JV (£0.3m)

17. Cape plc © 2012 Update on Arzew project in Algeria Background  Awarded c.€27m contract in August 2010 for the Sonatrach GL3-Z LNG Project in Arzew, Algeria. Cape scope is for the total insulation works (insulation, fire-proofing & scaffolding)  Detailed project cost review in May 2012 identified a significant overspend, resulting in a £14m provision being recognised in H1 2012, as previously disclosed Current Position  Experienced Cape leadership now in place  Substantial increase in skilled insulation resources now working on site replacing unproductive labour  Project management including improved monitoring and controls in place  Full inventory check completed – no new issues identified  Early days; good progress being made 17

18. Cape plc © 2012 Far East / Pacific Rim 18  Very strong growth in offshore business  Revenue growth more than offset by margin decrease  Fall in operating margin driven by both gross margin decline and overhead increase  Hong Kong Fuji and Shoreguard acquisitions performing well Revenue by type Revenue by market Offshore Oil & Gas Onshore Oil & Gas Power Other Minerals & Mining H1 2012 H1 2011Growth Revenue119.0 104.414% Adjusted Operating profit4.5 9.1-51% Adjusted Operating margin %3.8% 8.7% Note: Includes acquisitions Maintenance Projects Other

19. Cape plc © 2012 CEO review – early findings Solid underlying business; local operational management generally strong Safety first ethos and culture Regional businesses very autonomous with a strong entrepreneurial culture Immediate focus needs to be on operational improvement to establish platform for future growth Arzew project improving but still early days Australian business needs specific attention Long-term market demand drivers are strong Range of opportunities exist for growth in the medium to long-term; development of growth strategy will follow 19

20. Cape plc © 2012 Summary & Outlook

21. Cape plc © 2012 Summary & Outlook Challenging period but continued revenue growth, substantial order book and maintained interim dividend Strong fundamental business - immediate focus is to ensure we have the organisational structure and operational processes to enable the delivery of future profitable growth With a strong order book giving good near-term visibility, the Board is confident of meeting revised expectations for the year ending 31 December 2012 Over the medium and longer term, it is expected that demand for the Group’s services will continue to grow The Group is well positioned to deliver long-term earnings growth and the Board looks to the future with confidence 21

22. Cape plc © 2012 22

23. Cape in brief

24. Cape plc © 2012 Cape in brief Our international coverage extends from the UK, through the Gulf/Middle East, CIS, Mediterranean and North Africa and into the Far East/Pacific Rim 24 United Kingdom People >4,100 FY ‘11 Revenue £299.1m Gulf/Middle East People c.8,000 FY ‘11 Revenue £132.1m CIS & N. Africa People >2,200 FY ‘11 Revenue £54.5m Far East/Pacific Rim People c.4,700 FY ‘11 Revenue £236.8 Group People >19,000 FY ‘11 Revenue £722.5m Cape is an international leader in the provision of essential non- mechanical industrial services focused on the energy and natural resources sectors

25. Cape plc © 2012 Our business  For project work, Cape is typically commissioned for works on major Capex projects in the Oil and Gas, Mining and utilities sectors.  Once a build project is completed, Cape is well positioned to secure long-term maintenance and campaign contracts that follow. Construction (Project) Support Services Maintenance Support Services  Typically multiple-year agreements of 3 – 5 years duration,. The Group has historically enjoyed very high contract renewal rates due in large part to the embedded nature of the services.  These services form a critical part of the ongoing fabric maintenance of our clients’ facilities. The successful execution of recurring maintenance helps Cape’s clients avoid unplanned down-time and ultimately optimises the efficiency of their facilities.  Drivers of growth opportunities include:  Commissioning of new plants in growth markets (LNG/GTL in Far East/Pacific Rim and downstream in Gulf/Middle East  Increasing maintenance requirements of ageing infrastructure in mature markets  Increasing focus on safety by plant operators Other  Includes materials and equipment sales and short-term hire of equipment. 42% 55% 3% We offer a range of multi-disciplinary services which includes access systems, insulation, refractory linings, painting, coatings, blasting, industrial cleaning, training and assessment throughout the lifecycle of large secure industrial assets % H1 ‘12 revenue

26. Cape plc © 2012 Major Engineering and Construction (E&C) contractors Our client base is diversified & well balanced 26 Plant operators in the oil and gas, chemical, power generation, minerals and mining, chemical and steel sectors Cape provides access, insulation, refractory, fireproofing and coatings during the crucial build phase.

27. Cape plc © 2012 27