Geographic Expansion

Boart Longyear has identified the opportunity to expand the Drilling Services division into key
geographies where the Company has limited presence and/or sustained high market growth is anticipated. Management has identifi ed Chile, Peru, Mexico, Argentina, Russia, the Democratic Republic of Congo and China as key geographies, with substantial new mining capacity already beginning to appear in these markets. Such geographic entry or expansion is likely to occur in conjunction with several of the Company’s initiatives, including acquisitions and global account management.