Performance in line with expectations and up on 2013 led by strong growth in Wood Group PSN Production Services.

- Total Revenue of US$7,616.4m up 7.8% on 2013 (US$7,064.2m) and Total EBITA of
US$549.6m up 3.1% on 2013 (US$533.0m).

- Revenue from continuing operations on an equity accounting basis up 14.3% at
US$6,574.1m (2014: US$5,753.2m).

- Profit from continuing operations on an equity accounting basis before tax and
exceptional items (but after tax on JV profits) up 10.9% at US$414.5m (2013:
US$373.7m).

- Adjusted diluted EPS of 99.6 cents (2013: 98.6 cents).

- Total dividend of 27.5 cents per share (2013: 22.0 cents) up 25%; intention
remains to increase US dollar dividend per share from 2015 onwards by double
digit percentage.

- Strong cash generation and robust balance sheet providing security and
flexibility.

US$217.3m invested in strategic M&A

- Internal SG&A cost reductions and deferrals of over US$30m to be delivered.

- Anticipate performance in 2015 to demonstrate relative resilience in a
challenging market.

Wood Group Engineering

- Lower contribution from Upstream as anticipated.

- Service offering enhanced through the acquisition of Agility Projects in Norway.

Well positioned to unlock value for clients and influence overall project costs through high quality engineering.

Wood Group PSN - Production Services

- Strong EBITA growth of 30.4% driven by performance in US shale, including
Elkhorn acquired in 2013, and growth in the North Sea.

- High contract renewal success rate in UK North Sea providing good visibility
into 2015 and beyond.

- Expanded service offering through acquisitions including Swaggart in US.

Turbine Activities

Reduction in EBITA reflecting a lack of EPC volumes; reached final settlement agreement on Dorad.

Ian Marchant, Chairman commented:

"The Group performed well in 2014, delivering in line with expectations against a backdrop of a steep decline in oil price towards the end of the year. We will continue to help customers increase productivity in their new projects and existing operations. In line with our focus on customer efficiency, we are also implementing internal cost and efficiency measures to ensure we remain competitive. We will remain a reimbursable, asset light business with a balance of opex and capex activities, a broad range of longer term contracts and significant customer and geographic diversification. As we look to 2015, we expect financial performance to demonstrate the quality of our people and the relative resilience of our business in a challenging market, and we will see the full year benefit from completed acquisitions."