1. The changing world of Network Rail Simon Kirby, Managing Director Infrastructure Projects

2. Rail remains a growth industry Source: ORR, National Rail Trends, 2011 This compares to less than 10% for UK Air and Road over the same period

3. Record passenger numbers and reduced costs Source: ORR, National Rail Trends, 2011; and Network Rail, 2011

4. A fundamentally different company in 2012 Devolved route business units aligned with our customers National Centre A separate projects business working in collaboration with our supply chain

5. Devolution - Getting closer to customers Increase our responsiveness Reduce industry costs Offer a seamless service from routes, with support from the centre Maintain network benefits Train image

6. National Centre - Milton Keynes

7. A separate projects business working in collaboration with our supply chain

8. Our aims Achieve lower unit costs/ greater innovation A more open project market Greater / earlier supply chain engagement and partnering Improve workforce safety Increase customer focus Wider pipeline of work income

9. Steve Featherstone Programme Director Track Ian Iceton Head of HR SCO NE EGIP Anglia Kent Sussex Wessex Platform Ext LNW East Mid BGP Kings Cross Crossrail Reading Western Wales Electrification

10. April 2012 Becomes a regionally-based projects delivery business More closely aligned Network Rail's route teams, our main clients/customers Overall aim is to safely deliver better value-for- money across all renewal and enhancement infrastructure projects

11. Summer 2012 Pilot projects will examine the best way to open up our projects to competition and enable Network Rail to further develop client capability

12. April 2013 IP becomes a subsidiary company of Network Rail able to forge new relationships with other (non- Network Rail) clients

13. September 2013 As a subsidiary, IP will be able to bid alongside the market for NR project work

14. The IP Journey: April 2014 (CP5) The first enhancement and renewal projects are contested in the open market in a consistent manner Certain projects remain allocated to Network Rail IP Innovation and value for money from all deliverers open to scrutiny by the industry and other stakeholders creating a better cost benchmark

15. 15 Collaborative working

16. Collaborative working - BS11000

17. Pipeline Workbank visible on internet High/ Medium/ Low probability introduced Continuous improvement –Clearer accountability –Internal KPI measuring forecast/ actual to be published –Re-work into regional plans

18. Aligned objectives drive innovation Westbury Lane

19. © Ipsos MORI 19 Overall satisfaction * = No. of respondent answers. Base for 2010= 64 respondents, 2011 = 72 respondents, 2012 = 70 respondents. Mean score calculated from 1-5 where 1 = very dissatisfied and 5 = very satisfied Mean score 3.81 3.11 3.60 Taking into account all of your experiences with Network Rail over the past 12 months as a whole, how satisfied or dissatisfied are you with Network Rail? Satisfaction continues to improve; the proportion who are dissatisfied is now below the benchmark target of 15%

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21. Building on strong delivery

22. Project performance is on plan

23. New King’s Cross Western Concourse opened 18th March

24. King’s Cross

29. Blackfriars – PV cells

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32. Integrated Ticket Hall – Concourse

34. Key Output 1 achieved, 10 th December 2011

36. Waverley - West side Glazing view from below

37. Good progress on FTN/GSM-R 90.4% Complete 2934 sites GSM-R ConstructionFTN Construction 98.4% Complete 14,591 Km

38. NW Cornor

39. Reading Station Area Redevelopment

41. Hitchin

42. Three Bridges ROC (Rail Operating Centre) in Sussex

44. Salisbury to Exeter old and new signalling

45. Simon Kirby, Managing Director Infrastructure Projects The changing world of Network Rail