Jarvis plc Interim Results

1. Jarvis plcInterim Results 26 November 2009

2. Strategic Highlights • Continued focus on Rail, Plant and Freight • Difficult trading conditions in first half due to low rail volumes and consequential volume reduction in plant • Downsizing following Network Rail’s decision to reduce plain line volumes by 30% is now largely complete • Focus on business development has produced increased bidding activity with Network Rail and potential new clients • Improved Health and Safety performance with the Contract Accident Frequency Rate (AFR) now at 0.11, below Network Rail target of 0.175 • Accommodation Services – encouraging continued improvement

3. Group Financial Highlights * From continuing operations, before exceptional items

4. Group Revenue Analysis *2008 significantly impacted by high volume of West Coast Modernisation work

5. Revenue Analysis - Rail • Track Renewals lower than last year due to Network Rail reducing plain line volumes • The completion of the West Coast Route Modernisation projects accounted for the lower volume in Enhancement Projects • Electrical Projects continue to perform well • Successfully commissioned multi-disciplinary projects at Lugton Loop and Stoke

6. Revenue Analysis - Plant • Reduced revenue as a direct result of the reduction in national rail volumes and completion of West Coast Route Modernisation programme • OTM secured a one year extension to national contract until April 2010 • - Freight performed in line with expectations and secured an extension to its E.ON contract until 2015

7. Revenue Analysis – Accommodation Services • Trading ahead of expectations mainly due to settlement of historic claims • Encouraging progress on benchmarking

8. Group Segmental Profit Analysis*

9. Exceptional Items

10. Net Debt • Debt facility extended to 31 January 2011

11. Rail • Trading continues to be difficult due to low volumes • Concentration on business development and the ‘work winning process’ • Improved bid volumes for both Network Rail and new potential clients give confidence of volume improvements • Operational and safety performance improved • Lugton Loop - major multi disciplinary project – commissioning successful and now nearing completion on schedule • Stoke – major multi disciplinary project successfully and safely delivered on time • Rationalisation and cost reductions throughout the business have created a more competitive environment

12. Plant (Fastline) • Plant has experienced low volumes driven from Rail business • On Track Machines (OTM) performed well. • Small Plant performed in line with reduced volumes and restructured accordingly • Specialist Plant showed improved performance through innovative efficient processes • Operational improvements in Transport enabled provision of higher margins - performed well considering market conditions • Downsizing resulting from Network Rail’s decision to delay works is complete

13. Freight • E.ON contract performing well operationally • E.ON has extended the contract until December 2015 • Volumes remain low due to general economic conditions • Operational efficiency is improving • Further business opportunities as market conditions improve

14. Accommodation Services • Encouraging continued progress • Excellent progress in resolving historic commercial claims • Portfolio remains as 24 contracts of which 22 are long term pfi • Guaranteed long term income streams

15. In summary • Strategy remains to focus on Rail, Plant and Freight. • A very challenging trading environment with continued low volumes in Rail and Plant • Focus on safety and operational improvements • Rationalisation and cost reduction programme largely completed • Focus on business development and the ‘work winning process’ resulting in increased bidding activity • Encouraging level of bid opportunities outside Network Rail • Prospects beyond 2009/10 look more promising