STRATEGY

Philippe Lanternier
INVESTOR DAYS 2015
 MACROECONOMICS WILL DRIVE THE GROWTH
OF OVERALL TIC MARKET
END USER SPENT / TIC INTENSITY

Capex investment
+/- regulations
Operational expenditure

Production/Trade volume

© Copyright Bureau Veritas INVESTOR DAYS 2015 2

 TRADE: GLOBALIZATION HAS MATURED

Real GDP and trade

16
12
Percent change

8
4
0
1975 1980 1985 1990 1995 2000 2005 2010 2015 2020
-4
-8
-12

Real exports Real GDP

Source: IHS

© Copyright Bureau Veritas INVESTOR DAYS 2015 3

 THE END OF COMMODITY SUPER CYCLE

Trade of Commodities in volume

Year on Year Variation 15% 18

16
10% 14
12

in billion tons
5%
10
8
0%
6

-5% 4
2
-10% 0
2001 2003 2005 2007 2009 2011 2013 2015 2017 2019

Source: IHS
Source: IHS
YoY variation Commodities in volume

© Copyright Bureau Veritas INVESTOR DAYS 2015 4

 EMERGING MARKETS WILL CONTINUE TO DRIVE
THE MID TERM GLOBAL GROWTH
Real GDP
10
8
Percent change

6
4
2
0
-2
-4
1990 1993 1996 1999 2002 2005 2008 2011 2014 2017 2020

World Mature countries Emerging countries

Source: IHS

© Copyright Bureau Veritas INVESTOR DAYS 2015 5

 OIL BARREL PRICE ASSUMED TO STAY BELOW 60$
MID/LONG TERM
Crude oil and natural gas prices
140 16
14

Dollars/million Btu
120
12
100
10
80
Dollars/barrel

8
60
6
40 4
20 2
0 0
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020

Crude oil, Brent Crude oil, low oil scenario Natural gas, Henry Hub

Source: IHS

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 BACK TO NEW NORMAL

3%
TIC market growth
on a mid/long term

© Copyright Bureau Veritas INVESTOR DAYS 2015 7

 CONSUMPTION DRIVEN SECTORS WILL LEAD TIC
MARKET GROWTH
Number of mid-income
households, PPP$

1 200

1 000

800
Millions

600

400

200

0
~1/3 of the absolute
2010 2015 2020 2025 TIC market growth
Rest of the World USA generated by
Western Europe BRIC 3 sectors
Source: IHS
© Copyright Bureau Veritas INVESTOR DAYS 2015 8
 MEGATRENDS ARE SHAPING TIC MARKET ACCESSIBILITY

TIC MARKET
STRUCTURE New consumptions patterns
Urbanization
Scarce resources management
Global power
Zero carbon
Technology & innovation
Industry 4.0
Social media
Global brand protection
New business models
Outsourcing & privatization

© Copyright Bureau Veritas INVESTOR DAYS 2015 9

 BUREAU VERITAS ASSETS & COMPETITIVE ADVANTAGE

REPUTATION CAPABILITIES
& RECOGNITION CLIENT BASE & NETWORK FINANCIALS

© Copyright Bureau Veritas INVESTOR DAYS 2015 10

 TIC CHANGING ENVIRONMENT

Large
New Increasing companies
requesting
normal importance more global
of consumer TIC services
driven sectors

© Copyright Bureau Veritas INVESTOR DAYS 2015 11

 3 + 2 PILLARS SUPPORTING OUR STRATEGY

Become the large companies’

Expand market coverage partner of choice for
through growth initiatives facilitating and securing their
transactions and operations

Enhance BV
growth
Further deploy an profile and Balance a global
efficient operating model resilience footprint between
to improve its agility and three geographical
productivity areas (Americas,
EMEA, Asia/Pacific)

Continue to play a leading

role in TIC market
consolidation

© Copyright Bureau Veritas INVESTOR DAYS 2015 12

 EXECUTING THE STRATEGY

8 GROWTH
INITIATIVES 2 COUNTRIES
4 LEVERS

Enhanced offering USA Human Resources

Adjacent segments China Excellence@BV
Portfolio expansion Account Management
Digitalization

© Copyright Bureau Veritas INVESTOR DAYS 2015 13

 8 STRATEGIC INITIATIVES

Construction & Civil

Food & Agriculture

Consumers goods
Metals & Minerals

Public authorities
Manufacturing of
Power & Utilities

Process (Other)

Aerospace, Rail
industrial goods

Banking and
Automotive
Chemicals

Transport,

Insurance
Oil & Gas

& Retail
Marine

Health
Work
Adjacent segments
(Retail & Mining)
Asset CAPEX
Building &
Asset OPEX infrastructure

Product related
services Agri-food
System, Data,
Smartworld
People

Automotive
OPEX (Oil & Gas, Power
Marine & Offshore & Utilities, Chemicals) Certification global contracts

© Copyright Bureau Veritas INVESTOR DAYS 2015 14

 BUILDING & INFRASTRUCTURE

Asset CAPEX

Asset OPEX

Product related +€540m

services
System, Data,
People

2020 incremental
revenue vs 2015

Serve emerging markets increasing needs

Leverage Bureau Veritas unique global position

© Copyright Bureau Veritas INVESTOR DAYS 2015 15

 OPEX (OIL & GAS, POWER & UTILITIES, CHEMICALS)

Asset CAPEX

Asset OPEX

Product related +€500m

services
System, Data,
People

2020 incremental
revenue vs 2015

Leverage existing client base and capabilities

Take advantage of outsourcing trends
Improve resilience to CAPEX cycles

© Copyright Bureau Veritas INVESTOR DAYS 2015 16

 ADJACENT SEGMENTS (RETAIL & MINING)

Asset CAPEX

Asset OPEX

Product related +€400m

services
System, Data,
People

2020 incremental
revenue vs 2015

Enlarge service offering

to existing and new clients

© Copyright Bureau Veritas INVESTOR DAYS 2015 17

 AGRI - FOOD

Asset CAPEX

Asset OPEX

Product related +€180m

services
System, Data,
People

2020 incremental
revenue vs 2015

Serve the needs of an increasingly

global supply chain
Increase presence in one of the largest
and non-cyclical TIC segment
© Copyright Bureau Veritas INVESTOR DAYS 2015 18
 AUTOMOTIVE

Asset CAPEX

Asset OPEX

Product related +€120m

services
System, Data,
People

2020 incremental
revenue vs 2015

Take advantage of automotive sector geographical

and technological transformation
Expand position along the whole value chain

© Copyright Bureau Veritas INVESTOR DAYS 2015 19

 SMARTWORLD

Asset CAPEX

Asset OPEX

Product related +€100m

services
System, Data,
People

2020 incremental
revenue vs 2015

Leverage established capabilities

Strengthen Bureau Veritas leadership position
in this exploding segment

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 CERTIFICATION GLOBAL CONTRACTS

Asset CAPEX

Asset OPEX

Product related +€80m

services
System, Data,
People

2020 incremental
revenue vs 2015

Respond to increasing demand

for global certification by international companies
Leverage Bureau Veritas brand reputation
in a favorable competitive environment
© Copyright Bureau Veritas INVESTOR DAYS 2015 21
 MARINE & OFFSHORE

Asset CAPEX

Asset OPEX

Product related +€80m

services
System, Data,
People

2020 incremental
revenue vs 2015

Leverage technological leadership

and new services capabilities

© Copyright Bureau Veritas INVESTOR DAYS 2015 22

 5 PILLARS STRATEGY TO ENHANCE BUREAU VERITAS
GROWTH, RESILIENCE AND PROFITABILITY

Expand Large companies’

market coverage partner of choice

Excellence
@BV Balance
global footprint

Leading role
in consolidation
© Copyright Bureau Veritas INVESTOR DAYS 2015 23