Presentation to Carillion The Equipment Rental Specialists 9 th June 2010 The Equipment Rental Specialists Vp plc Final Results for the year ended 31 March 2011

Agenda ●Summary ●Operational Review ●Financial Review ●Conclusion

Results summary

Group Thumbnail ●Rental specialist serving diverse, niche end markets ●Established for over 50 years ●6 operating divisions ●1500+ employees; £100m asset base; £140m+ revenues ●£137m fleet investment in last 5 years ●Mainly UK based with some European exposure (Groundforce/TPA); global presence through Airpac Bukom

Strengths/Characteristics of Vp ●Resilient –diverse markets –market leading positions –specialist ●Consistent –quality returns, even in downturn ●Financial –strong balance sheet, positive cash generation ●Sustainable –we take a long term view

Operational review

Resilient business performance  Solid profit - ahead of market expectations  Little overall improvement in market conditions  Revenue growth  Double digit operating margins  Prior year cost actions effective  Strong cash generation  Borrowings reduced by £7.8m  Fleet investment increased to £24.2m (74%)  Fleet sales £7.2m, generating profits of £2.3m  Results endorse the quality of our business model

Revenue and Operating Profit trends Revenue (£m) Operating Profit (£m)

Group structure The Equipment Rental Specialists

Divisional overview  All divisions profitable  Strongly cash generative  Positives UK Forks and Torrent Trackside profit recovery Network Rail 5 year contract wins Telehandler fleet acquisition with sole supply agreement Fleet investment increasing as fresh opportunities secured  Negatives Rate pressures but improving outlook in second half  Generally upbeat finish to the year

Business performance

Capital expenditure

Market diversity

Operational outlook  New financial year has started well  Business plans assume stable market conditions  Breadth of markets will remain a key asset  Investment in rental fleet expected to continue at enhanced levels  The Group’s excellent financial health provides competitive advantage  We remain optimistic about future prospects

Financial review

Financial highlights – solid profit performance

Earnings and dividend per share

Robust balance sheet

Fleet size and profile balanced with demand £ million

Robust fleet – consistent disposal margins 33% margin 35% margin 39% margin 33% margin

Strong cash generation - operating cash flow

Strong cash generation - total cash flow

Modest gearing, comfortably within covenants Net debt Underlying gearing Interest cover (12 months) Net debt / EBITDA (12 months)

Bank facilities being refreshed

Conclusion

Strengths and strategy

Presentation to Carillion The Equipment Rental Specialists 9 th June 2010 The Equipment Rental Specialists Vp plc Final Results for the year ended 31 March 2011

Supplementary schedules

Net working capital

Shareholder value

Effective rate of tax

Shareholder return

Quality returns Operating Margin (%)Return on Average Capital Employed (%) Earnings per share (pence)Dividend per share (pence)

Group history Turnover1970: £2m1980: £14m1990: £70m2000: £55m2010: £134m2011: £141m

Europe’s market leader in portable roadways: Operations based in UK, Republic of Ireland and Germany Largest portable roadway fleet in UK Skilled installation of bespoke roadway and fencing solutions Markets: Transmission, outdoor events, rail, construction - UK and Europe Opportunities: Regulated transmission programme, new products and European growth

National hire of telescopic handlers/rough terrain forklifts : Only national telehandler specialist Fleet of c.1100 machines Centralised hire desk – cost effective with consistent quality of service and administration Strategically located distribution network Flexible model allows up/downsizing of fleet according to market conditions Markets: General construction, housebuild and industry Opportunities: Housebuilding improvement, market share growth

Tool hire and specialist equipment for construction and industry: Local tool hire branches supported by national call centre Plus, specialist products and services °ESS Safeforce – safety equipment and confined space training °MEP – press fitting and electrofusion equipment °Climate Hire – heating and cooling products °Virtual Hire – own brand partnerships, e.g. Homebase, Garden Centre Group Markets: Construction, industry, civil engineering, housebuild, DIY Opportunities: Specialist products, market share growth

UK market leaders in the rental and sale of Shoring Products and Solutions: Groundforce has the largest excavation support fleet in the UK and Ireland Plus, specialist products and services °Piletec – piling equipment °Stopper Specialists – pipeline pressure testing °Shorflo – pumps °‘U’ Mole – trenchless technology °Easiform – concrete formwork Markets: Civil engineering (including AMP), construction and housebuilding Opportunities: AMP 5, European growth and export sales

Provision of rail specific light plant, trackside lighting and skilled trackside personnel: Comprehensive depot network providing national coverage Genuine 24/7 x 365 national support The widest range of specialist portable rail equipment in the UK Significant safety and compliance barriers to entry Markets: Maintenance and renewals projects on national rail network, London Underground Opportunities: Network Rail maintenance contract, LUL, Crossrail, renewal activity

International rental of high pressure air compressors, steam generators and specialist equipment supported by skilled engineers: Provision of air and steam solutions to the international oil and gas sector Rental assignments in more than 60 countries International network of six service and distribution facilities located in the UK (Aberdeen and Great Yarmouth), Singapore, Australia, Middle East and Latin America Markets: Well testing, rig maintenance, gas transfer, LNG Opportunities: Recovery in well test market, new applications for equipment and greater penetration of under represented geographic regions