REVIEWED INTERIM RESULTS

1
REVIEWED INTERIM RESULTS

• FOR THE SIX MONTHS TO 31 MARCH 2008
• 12 MAY 2008

2
Highlights
8 - Revenues R21 691m 19 - Revenues excluding
Handling businesses sold 30 - Operating profit
R1 279m 105 - HEPS continuing operations 345
cents 50 - HEPS continuing operations (excl.
STC on 2007 special dividend)

• Logistics acquisitions position division for
  international growth
• Interim dividend 100 cents per share

3
1H 08 Operating Profit (Rm)
41
-21
9
28
4
Operating profit split (Rm)
Geographic diversity with 20 000 people in 42
countries
5
Progress on Announced Strategic Actions

• Strategic actions to reposition the group
  completed in the 1st quarter

6
Empowerment and Transformation

• Broad Based BEE equity transaction expected to be
  announced shortly
• Transaction at holding company level (10)
• Anticipated to result in effective 25
  empowerment of SA operations
• Participants to include
• South African based Employees
• Current and Future black management
• Black non-executive directors
• Strategic black business partners
• Community based partners
• Education trust
• Khanyisile Kweyama appointed as Global HR and
  Transformation exec
• Four Black managers on Barloworld Executive
  Committee

7
Financial Review

• Don Wilson
• Finance Director

8
Income Statement Highlights
9
Exchange Rates
Income statement
Impact Benefit of 18 cents per share (5)
Balance sheet
Impact Increase in assets of R2 431 million
10
Balance Sheet Highlights
11
Cash Flow Highlights

• Cash generated by operating activities R2 585m
• Cash applied to investing activities R1 300m (Mar
  07 R296m generated) includes

• Total dividend payments R414m (Mar 07 R1 197m)
• Net cash outflow R1 528m (Mar 07 R335m)
• Payment to fund UK pension deficit R759m

12
Net Cash Investment in Working Capital
13
Segmental Gearing

• Group segmental gearing ratios are all within
  their target ranges as set out below

• The ratio of short to long-term debt has risen to
  5644 (Sep 075248)
• Proposed BEE transaction includes the inflow of
  long term funds into the group and will be used
  to reduce short-term borrowings
• Group balance sheet remains strong

14
Divisional Overview
15
Equipment

• Southern Africa
• Robust demand from mining and construction
  sectors
• Increase in power generation requirements
• Iberia
• Housing construction declines
• Re-elected government commits to high levels of
  public expenditure
• Revenue growth in Portugal includes export sales
  at lower margins
• Continued growth in power systems

66
14
16
Angola Construction Projects

• Angola Revenue Customer back orders
• 1H 08 - R772,6m 1H 08 R274,4m
• 1H 07 - R336,8m 1H 07 R193,9m

Nat. Reconstruction 30b - 2006/2016
Cabinda/DRC Road Rehab 50m - 2007/8
25 km Viana Highway 155m - 2007/2009
Luanda Bay Dev 2.5b - 2007/2010
Luanda Shopping 470m - 2007/2009
Luanda Int. Airport 2b - 2006/2009
Railway Rehab 4.2b - 2006/2012
Cunene River Bridge Rehab 30m - 2007/8
25 Airport upgrades 500m - 2006/2012
17
Power System Opportunities

• Power generation shortfall 4 200 MW
• On order next 6 months 400 MW (700 generators)
• Revenue from power systems 8
• Major growth opportunity

18
DRC Joint Venture

• Major orders secured (delivery 2008/9)
• Tenke Fungurumi 42 machines 32m
• Katanga Mining (Nikanor) 53 machines 140m

Main road between Lubumbashi and Kolwezi
19
DRC Joint Venture
992 crossing lake on barge
20
DRC Joint Venture
Temporary bridge, whilst permanent bridge being
renovated
21
Spanish construction investment

• Growth in construction investment declines to
  2.9 in 2007
• Housing impacted more than the rest of
  construction
• Slowdown intensifies in 1st quarter 2008

Construction
8
6
4
Quarterly growth
2
0
2005
2006
2007
2008

Source Economic Report for April 2008 from Banco
de España
22
Equipment Iberia Power Systems

• High concentration of mega fast ferry business in
  Spain
• Strong growth in marine engine opportunity

23
Equipment Siberia

• Activity levels in mining and resource sectors
  remains high
• Revenue up 75 to 108 m (1H 07 62 m)
• Operating profit 7.3 m (1H 07 2.1 m)

24
Order Books Equipment (Rm)

• US1 585m in orders placed on Caterpillar (31
  Mar 08)

excluding DRC
25
Automotive

• Revenue R8.6bn (Mar 07 R7.7bn)
• Integrated Motor Vehicle Usage Solutions offering
  drives activity
• Operating profit R277m (Mar 07 R352m)
• Strong competition due to tough trading
  conditions negatively impacts result

Margin
-11
-760
-25
43
-3
including Subaru
26
Automotive Car Rental

• Southern Africa
• Strong growth in rental days and rate per day
  continues
• Negative impact of reduced utilisation and soft
  usedvehicle market
• Future benefits from investment into strategic
  initiatives

27
Automotive Car Rental

• Scandinavia
• Disappointing result for the period
• Allocated significant resources to region

28
Automotive Motor Trading

• Motor Retail Southern Africa
• Fewer, Bigger, Better strategy weathers tough
  South African market
• Strong after-sales activity mitigates declining
  new vehicle sales
• Used vehicle initiative continues to yield
  benefits
• Subaru Southern Africa suffered a small loss
  exacerbated by weaker Rand/Yen exchange rate
• Motor Retail Australia continues to grow profits

29
Automotive Fleet Services

• Strong fleet growth continues
• Benefits from improved interest rate margin
• A weaker used vehicle market negatively affects
  results

30
Handling

• Southern Africa
• Growing market share
• Agriculture boosted by favourable commodity
  prices and weather
• Europe
• Belgium and Netherlands strong new equipment
  sales
• UK steady growth
• US
• Economic downturn impacted trading

Margin
200
42
-67
includes trading and leasing business
31
Handling Order Books (Rm)

• Southern Africa
• Significant improvement in both Handling and
  Agriculture
• Europe
• Healthy growth in Belgium, Netherlands decline
  UK
• US
• 30 reduction US

32
Logistics

• Southern Africa
• Strong organic growth during the period under
  review
• Significant new business to maintain momentum
• Europe
• Spanish business being re-organised

71
-58
Inter-group revenue eliminated
33
Logistics Acquisition
Air

• Acquired
• Flynt - Hong Kong
• Swift - Dubai
• SAT - Düsseldorf

Air
Air

• Countries Offices
• Hong Kong 2
• ML China 5
• Other SE Asia 2
• India 4
• UAE 5
• 11 African countries 19
• Germany 1

Air
Sea
Locations acquired
Significant locations before acquisition
34
Acquisitions - Highlights Rationale

• Highlights
• Purchase price US 83m - 8 times PE multiple
• Annual revenue US 270m - 800 employees
• Rationale
• Significant growth for Barloworld Logistics
• Geographic expansion - Middle-East, Africa, SE
  Asia and W Europe
• Significant increases in revenue profit
• Enter global logistics mainstream
• From SE Asia manufacturing to W Europe African
  consumers
• Enter niche where we will be market leaders
• 70 market share of Sea-Air volume from SE Asia
  through Dubai
• Significant presence in Dubai, future global
  logistics hub
• Enhance Barloworld Logistics Africa expansion
  into rest of Africa

35
2008 Outlook
36
2008 Outlook
37
The groups operating performance is expected to
remain strong, driven by the Equipment business
in southern Africa. Headline earnings per share
from continuing operations for the full year will
not match the growth achieved in the first half
due to the expected non-cash charge for the BEE
transaction and the financial instrument gain
earned in the second half of last year from the
marking to market of the PPC shares.