Wood Group acquires Agility Projects AS

14 July 2014 Wood Group strengthens Norwegian offshore engineering capability withacquisition of Agility Projects AS Wood Group has reached an agreement with Agility Group to acquire AgilityProjects AS, a Norwegian engineering, procurement, construction management,installation and commissioning company, for a total consideration of NOK 1,008m(approximately $164m1). Based in Sandefjord, near Oslo, Agility Projects, whichis a wholly owned subsidiary of Agility Group AS, is focusing on activities onthe Norwegian Continental Shelf (NCS) and employs 650 personnel with operationsin Oslo, Stavanger, Bergen, Moss and an engineering office in Shanghai, China. Agility Projects will operate within Wood Group Mustang's offshore business andwill be headed up by the current Agility Group CEO, Otto Søberg, and theexisting Agility Projects management team. The transaction is subject to a number of conditions, including competitionapproval in Norway, and completion is expected in Q3 2014. Steve Knowles, chief executive officer of Wood Group Mustang, said: "AgilityProjects' reputation is very well-established in Norway and represents astrategically important acquisition for Wood Group Mustang as it increases ourexposure to the greenfield and brownfield engineering markets on the NCS.Agility Projects complements Wood Group's existing engineering activities inNorway and recently we successfully collaborated in winning the Ivar Aasentopside engineering project in Norway." Otto Søberg, chief executive officer of Agility Group, said: "Agility Group isvery pleased to have found a new home for Agility Projects and the business isvery excited to become part of Wood Group as it provides access to moreengineering resources, allowing Agility Projects to offer a better level ofservice to our existing and new clients and enable us to pursue larger and morecomplex offshore engineering projects. The culture and core values of AgilityProjects represent a perfect fit with Wood Group Mustang as we both focus onquality of service, customers and employees." Note 1: Based on a US$:NOK exchange rate of 1:6.15. Ends - Notes to Editors: Wood Group is an international energy services company with over $7 billionsales. The Group is built on our Core Values and has three strategic businessunits - Wood Group Mustang, Wood Group Kenny and Wood Group PSN - providing arange of engineering, production support and turbine services to the oil & gasand power sectors. For more information, visit www.woodgroup.com. Wood Group Mustang provides award-winning services to the global energyindustry. From concept to completion, Wood Group Mustang provides projectmanagement, construction management, engineering and procurement services tothe offshore, onshore, pipeline, refining, chemicals, industrial and automationsectors, operating in countries in Africa, Asia, Europe, the Middle East, LatinAmerica and North America. For more information, visit www.mustangeng.com. Agility Group is an industrial group comprising Agility Subsea Fabrication,Agility Contracting and Minox Technologies. Agility Group is wholly owned by Hitecvision V L P. Agility Projects AS is a Norwegian engineering, procurement, constructionmanagement, installation and commissioning company focusing on activities onthe Norwegian Continental Shelf (NCS). A wholly owned subsidiary of AgilityGroup AS, Agility Projects employs 650 personnel and has operations in Sandefjord, Oslo,Stavanger, Bergen, Moss, and an engineering office in Shanghai, China. For further information contact: Media enquiries: Carolyn Smith - External Affairs Manager, Wood GroupTel: +44 (0) 1224 851099, email: [email protected] Investor and analyst enquiries: Andrew Rose, Group Head of Investor Relations, Wood GroupTel: +44 1224 532716, email: [email protected]