Merrill Lynch Global E&C/ Infrastructure Conference May 15, 2007

Forward-Looking Statement Disclaimer Statements included in this presentation that are not based on historical facts are “forward-looking statements”, as that term is defined in the private Securities Litigation Reform Act of 1995. Although such statements are based on management’s current estimates and expectations, and currently available competitive, financial and economic data, forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause the results of the Company to differ materially from what may be inferred from the forward-looking statements. When used in this presentation, words such as “anticipate,” “estimate,” “expect,” “seeks,” “intend,” “plan,” “believe,” and similar words are intended in part to identify forward-looking statements. Some of the factors that could cause or contribute to such differences are listed and discussed in Item 1A - Risk Factors of the Company’s most recent Annual Report on Form 10-K for the period ended September 30, 2006. That list is not all-inclusive, and the Company undertakes no obligation to release publicly any revisions or updates to any forward-looking statements that are contained in this presentation. Readers of this presentation are encouraged to read carefully the Company’s most recent Annual Report on Form 10-K for the period ended September 30, 2006 (including discussions contained in Items 1 – Business, 1A - Risk Factors, 3 – Legal Proceedings, and 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations contained therein) and other documents the Company files from time to time with the United States Security and Exchange Commission (“SEC”) for a further description of the Company’s Risk Factors.

Strategies to Maintain Growth Remain committed to our relationship business model Market and service diversity Multidomestic strategy Acquisitions Cost discipline

Our Relationship-Based Business Model Delivers measurable value Optimizes customers’ ROI Sustains relationships for the long term Minimizes volatility in contracts/pricing Reduces risk Slide 11 Our Model Industry Model Preferred Relationships Discrete Projects Transactional Projects Discrete Projects Preferred Relationships Transactional Projects Slide 12

Our Relationship-Based Business Model: How It Works Slide 13 Slide 14

Revenue by Market Revenue for twelve months ended 3/31/01: $3.7 Billion Revenue for twelve months ended 3/31/07: $8.0 Billion Pulp & Paper, High Tech, Food & Consumer Products 7% Chemicals 17% Pulp & Paper, High Tech, Food & Consumer Products 19% PharmaBio 10% Chemicals 19% Oil & Gas (Upstream) 14% Pharma Bio 16% Petroleum 10% National Gov’t. 18% Infrastructure 6% National Gov’t. 18% Buildings 12% Buildings 5% Petroleum (Downstream) 21% Infrastructure 8%

Project Lifecycle Services 7% Consulting Project Services 42% Slide 9 Construction Percent Revenues Operations & Maintenance 41% 10% Service Lifecycle Slide 10

Multidomestic Strategy 1994 2007 Slide 15 Slide 16

Acquisitions Dedicated, systematic review of opportunities Tuck-in or bolt-on capabilities Patience: right company at right price Last 20 Years of Acquisitions Adding Scale and Capabilities Deepening/Expanding Market Diversity 2007 YTD Acquisitions 26 acquisitions 19 countries PharmaBio Pulp & Paper Buildings Infrastructure Defense and Aerospace Upstream Oil & Gas Linder Edwards and Kelcey

Driving Down the Costs

Case Studies University of California, Davis Medical Center CM for neo-natal intensive care unit and surgery area 2.9 million workhours without a safety incident $6 million in client- approved value engineering savings Growing market—a leading provider in U.S. and Europe

Case Studies BP Project Resolution Fast-track project for mercaptans removal Full EPCM services Multi-office execution Over 500,000 workhours with no lost-time incidents

Case Studies Eli Lilly Long-term relationship Design, modular fabrication, construction management Modular technology cut 33 months from various project schedules Received Lilly’s 2005 Global Supplier Award

Case Studies Florida Turnpike Enterprise TEAM Turnpike contract Maintenance and traffic operations engineering New $57 million design- build contract to widen Sawgrass Expressway One of the few fully contracted highway maintenance organizations in the nation

Case Studies NASA Johnson Space Center NASA's Manned Space Flight Center New Lunar/Mars program design, develop and test flight hardware Growing contract - over 1,600 people, over $1B final value

History of Consistent Earnings Growth 25 20 15 10 5 Net Earnings ($ Millions) 5-Year Compound Annual Growth Rate * Before special, one-time charges ** Trailing twelve months to 3/31/07

History of Consistent Backlog Growth Technical Professional Services Backlog Total Backlog 10.7 9.1 8.2 7.2 6.7 6.5 5.9 5.8 Backlog ($ Billions) 4.6 4.4 4.5 4.3 3.6 2.9 3.0 3.2 2.8 2.4 2.0 1.7 1.0 0.9

Second Quarter Financial Highlights The company completed a 2-for-1 stock split on March 15, 2007 Record diluted EPS of $0.55 Record earnings of $67.2 million Record backlog of $10.7 billion Strong balance sheet Net cash (cash less bank debt) balance of $411.2 million FY07 guidance of $2.10 to $2.25

Investor Appeal Unique customer-driven business model Diversified markets/geographies/services Strong balance sheet 15 percent average annual EPS growth rate

Merrill Lynch Global E&C/ Infrastructure Conference May 15, 2007