Shaping the future - a review of performance for 2021

Our strategic priorities for growth We have identified exciting growth opportunities in both ship design and in the rapid development of digital capabilities to offer integrated environmental solutions and advanced asset lifecycle services. These opportunities will underpin our future prosperity and growth. How we drive strategic progress Investment to grow Stretch targets to grow the core Drive performance through collaboration & innovation Customer driven activity PROGRAMMES FUTURE BUSINESS PORTFOLIO STRATEGIC OPPORTUNITIES What will success look like? We will be a globally aligned business, adapted locally to reflect different geographic regions and markets in which we operate, but delivering value through common processes, tools, and the way we manage information. This in turn increases the reliability of our performance, the efficiency of our delivery and gives us the ability to deploy our global capabilities more effectively, sustainably, and profitably. It also means career development opportunities at a global, not just local level so we can both attract and retain the best talent. We will measure our success through financial and non-financial KPIs including EBITDA, value of customer orders, employee engagement scores and customer satisfaction levels. How we deliver our strategy We focus on three operational priorities: Performance By delivering strong financial performance, we can invest in new capabilities, drive future growth and, through meaningful profit distributions, connect everyone to our shared success. Customers By understanding customer needs and ensuring they are represented in everything we do, we can build and maintain the trust that is core to our business. People Competitive remuneration and benefits will help attract and retain talent. By providing our employees with professional development, challenging work, and career opportunities we will win the ‘war for talent’. Underpinned by our commitment to sustainability We are taking evolutionary steps across the business that are enabling us to build resilience and increase the value we provide to our stakeholders and the environment. SHIP DESIGN Commercial: Grow regionally focused technical sales teams to compete against established competition and enable the growth of our ship design capabilities in key markets. Defence: Implementation of a global ship design operating capability supported by improved technology, process, and organisational structure. DIGITAL DEVELOPMENT Advanced Lifecycle Services: Building a market-leading end-to-end Asset Performance Monitoring Data and Decision Support Services business that will serve our asset-intensive customer base, focusing on vessels, offshore energy platforms and maritime infrastructure assets. Environmental Solutions: Developing an environmental data platform for use by ports, aquaculture, and offshore energy customers. ENABLED BY Campaigns - Ship Design & Climate Risk & Resilience An integrated approach to Products, Innovation and Research & Development. 11