1. Company Introduction for September 17, 2014 Jim Gribbins, Founder and President Richard Daugherty, Industrial Accounts Manager

2. The Value of Gribbins Insulation  About our company  Our work  Past projects  Client relationships  Award winning safety program  Fit Tight Covers

3.  Owned and managed by Jim Gribbins since founding in 1985  Headquartered in Evansville, Indiana, with five regional offices and warehouses  Indianapolis and Terre Haute, Indiana; Robinson, Illinois; Louisville and Paducah, Kentucky  Management, supervision, and administrative team average over 24 years in the insulation industry  Average 250 employees including over 200 field employees, 13 estimator/project managers, and 4 full time safety professionals

5.  Operating Line of Credit: $8 million  Since 2008 Average Annual Sales of $31.4 million with average net profit of $3.1 million  Current financials  Current ratio: 3.1  Quick Ratio: 2.9  Bonding Capacity: $20 million

6.  Project sizes range from $500 to $40 million  Work throughout the Midwest Industrial Contractors Skanska Fluor Sterling Boiler BMW Constructors Duke Energy Indianapolis Power & Light Toyota Alcoa Marathon Petroleum Elanco Freitag-Weinhardt Wilhelm Construction Bristol-Myers Major Clients: :

7. Duke Energy IGCC Project Edwardsport, IN

8. Marathon Petroleum Robinson, IL

9. Abencs Abengoa Ethanol Plant West Franklin, IN

10. Commercial Work

11. Alcoa Eli Lilly – Clinton Eli Lilly – Indianapolis Bristol-Myers Squibb Toyota Mead Johnson Indianapolis Power & Light Marathon AK Steel Countrymark Refinery AGC Swift Foods Vectren Embedded Insulation Maintenance Contractor at: Gribbins management team actively engaged with all locations.

12.  Largest employer of the insulator craft in our Indiana and Kentucky markets  Signatory to multiple insulator and sheet metal local unions  Jim Gribbins is current chairman of the National Asbestos Workers Pension and Medical Fund  National Insulation Association Board Member  National Union Insulation Contractor’s Alliance Board Member  Multiple projects worked under National Maintenance Agreement

14.  Current EMR is.67 – below.77 for the past 14 years  ZERO RECORDABLES in 2013  OSHA Voluntary Protection Program (VPP) Star Status at Marathon Petroleum in Robinson, IL, and Eli Lilly in Indianapolis, IN  Metro Indianapolis Coalition for Construction Safety (MICCS) IOSHA Certified Partner  Member of the VPP Participants’ Association and the National Safety Council  Behavior-based safety program certified by the Cambridge Center for Behavioral Studies

15.  Named one of America’s Safest Companies by EHS Today in 2011 and featured on the cover in July 2013  NMAPC Zero Injury Safety Awards, annually since 2009  Marathon Illinois Refining Division Manager’s Contractor Safety Excellence Award Winnger – 10 consecutive years  2013 MICCS Crystal Eagle – first specialty contractor in award’s history  2014 Indiana Governor’s Workplace Safety Award – 3 rd year  National Insulation Association Theodore H. Brodie Platinum Award, three consecutive years  National Safety Council named Jim Gribbins a 2012 CEO Who Gets It, along with Dow Chemical CEO  ICA Pinnacle Award, twice, and Summit Award, five times  2012 Toyota Supplier Safety Award  2011 CURT (Construction Users Roundtable) CISE Award 25+ Safety Awards since 2010

16. Gribbins

17.  Designs and fabricates high quality, custom removable insulation covers  All types of mechanical systems and equipment  Same ownership  Accelerated lead times and cost reductions for our clients  Completed projects for clients from California to New York

18.  Same ownership and management since 1985  Stable company with strong financials  Proven experience with variety of industrial and commercial projects  Strong relationships with clients and union  Award-winning safety program  Provide best-in-class service, quality, and price to our clients

19. Jim Gribbins President jgribbins@gribbins.com Richard Daugherty Industrial Accounts Manager rdaugherty@gribbins.com This presentation and additional documents are available for download at our website: www.gribbins.com/graycor