SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS

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The directors present their report on the consolidated entity consisting of WorleyParsons Limited (Company) and the entities it controlled (Group or consolidated entity) at the end of, or during, the year ended 30 June 2014.

BUSINESS REORGANIZATION

As announced in April 2014, the Group has been restructured on the basis of three business lines and will report as such effective from 1 July 2014. During FY2014 there were executive management changes in anticipation of the restructuring and significant head count reduction. Costs of $35.4 million before taxation were incurred in this restructure.