Results first half year 2008

ANALYST MEETING EINDHOVEN, AUGUST 7, 2008

Harrie NoyChief Executive Officer

Imagine the result

Another good quarter

Gross revenues rose 23%

Organic +8%, strongest in environment

Net income from operations 16% higher

Strong growth despite currency effect

Achieved further margin improvement

Outlook FY2008: +10% to 15%

Focus on growth markets, clients and synergy is the basis for good results

Gross revenuesEbitaIncome1)

EPS1,2)

2008 427

29,516,30,27

_ _23%24%16%17%

Income Q2 2008

€ 16.3 million

2007 348

23,814,00,23

1) Net income from operations before amortization and non-operational items

2) In 2008 based op 60.6 million shares outstanding (2007: 61.3 million)

Currency -6% to -7%, especially decline of US dollar, British pound

Gross revenuesEbitaIncome1)

EPS1,2)

2008 827

57,031,60,52

_ _22%23%18%18%

Income H1 2008

€ 31.6 million

2007 680

46,426,80,44

1) Net income from operations before amortization and non-operational items

2) In 2008 based op 60.6 million shares outstanding (2007: 61.3 million)

Currency -6% to -7%, especially decline of US dollar, British pound

0%

5%

10%

15%

20%

25%

30%

2003 2004 2005 2006 2007 H1-2008

Organic

Acquisitions

Total (excl.currency effect)

Currency -3% -3% +1% 0% -4% -6%

Organic growth stays at good level

Main factsGrowth environment stays strong: organic 15% Good success U.S., in growth (+9%) and profitLower growth U.S. infrastructure temporaryRTKL above expectation: growth 20%Dutch market positive: organic growth 13%European infra solid, Poland, Czech strong Buildings market Europe strengthening U.K. real estate market difficult Brazil and Chile continue growth

All figures relate to the first half year

57,046,4

35,3

23,4

18,6

0

10

20

30

40

50

60

2004 2005 2006 2007 2008

Margin improved

further

In € millions

25% 26%Increase

5.6%

7.0%

Margin10%

5%

0%

8.6%

51%

9.8%

31%

10.1%

23%

At 23% a strong EBITA increase

0 5 10 15 20 25 30 35 40 45 50 55 60

EBITA H1 2008

Organic

Acquisitions

Currency

EBITA H1 2007

In € millions

+ 8%

-/- 7%

46.4

57.0

Organic increase mainly comes from U.S en Other Europe (ex. U.K. project management)

+22%

Some financial

details

Carbon credits contribute € 1,9 million to EBITA (2007: 2.1 million)

Carbon credits from two landfills in Brazil; aprox. 750K ton per year price 10-20 EUR; 1/3 for Logos

Strong influence from derivatives for interest and currency risks on financing charges

Financing charges higher as a result of growth and acquisitions

Taxes higher

Net incomefrom operations

and EPS H-1

Earnings per share (in €)

10,7

13,3

21,2

26,8

31,6

0,0

10,0

20,0

30,0

40,0

2004 2005 2006 2007 2008

+12% +24% +60% +26%

In € millions

0.18

0.22

0.35

0.44

0.52

+18%

The business linesInfrastructureEnvironment Buildings

Growth in all business lines

Buildings +74% (+6%)

050

100150200250300

2004 2005 2006 2007 2008

Infra +2% (+5%)

050

100150200250300350

2004 2005 2006 2007 2008

Environment +19% (+15%)

050

100150200250300350

2004 2005 2006 2007 2008

Buildings27%

Environment37%

Infrastructure36%

INFRASTRUCTUREH1 2008: +2% (+5% organic)

Organic growth negatively impacted by earlier decline land development in U.S.

Excluding this effect organic growth 7%

Netherlands, France, Central Europe strong

Brazil and Chile growth in mining, energy

Backlog in U.S. grows, mainly water, e.g. New Orleans: >$ 45 million task orders

In Q2 organic growth lower through delays in start up of new projects in the U.S.

ENVIRONMENTH1 2008: +19% (+15% organic)

Considerable negative currency effect 12%

Contribution acquisitions (LFR, Vectra) 15%

U.S. remains strong: 17% organic increase, despite change in project mix with less third party work

Netherlands, Belgium strong growth EIA

England and Brazil mainly MNC growth

Demand from oil and gas industry stays high

BUILDINGSH1 2008: +74% (+6% organic)

Acquisitions RTKL and APS: 72% growth

In Q2 increasing growth most European countries

Project management U.S. grew again

Especially U.K. delays commercial real estate

RTKL: financing some projects more difficult, but growth in non-commercial and international (H1 gross revenues +20%)

ENERGY PROJECTS BRAZIL

In Brazil considerable experience with hydro power plants

Large demand for new energy initiatives

ARCADIS Logos Energia for energy project development

Mainly small hydro power plants: 3-30 MW

Partake in equity through contribution “in kind”

Sale shortly after projects become operational

AM

RRAP

PA

RO

AC

MT TO

MA

PI

CERN

PB

PEAL

SE

BA

DF

GO

SP

PR

SC

RS

RJ

ES

55º

0º

ManausBelém

Florianópolis

Curitiba

São PauloRio de Janeiro

Belo Horizonte

Brasília

.Fortaleza

.Porto Alegre

AM

RRAP

PA

RO

AC

MT

CERN

PB

PE

SE

GO

MS

SP

SC

RS

ES

55º

0º

ManausBelém

São PauloRio de Janeiro

AM

RRAP

PA

RO

AC

MT

CE

PB

PE

MG

GO

SP

RS

ES

55º

0º

ManausBelém

Cuiabá

São PauloRio de Janeiro

.Campo Grande

HPP Site Overview

Different stages of development• 50 MW in operation• 82 MW under construction• 165 MW final development stage• 194 MW initial/intermediate stage• 350 MW selection stage

Outlook

Outlook per business line

Infrastructure• Europe: longer term investment programs and private financing• High investments Central Europe; Brazil and Chile in mining and energy• Transportation U.S. stable; New Orleans solid basis for growth in water

Environment• Sustainability, regulations and climate change drive growth• Reduction service providers; demand from oil and gas industry • U.S.: new GRiP® projects, synergy with LFR

Buildings• RTKL solid backlog and opting for non-commercial, international• Project management: infrastructure, Middle East• Expansion facility management based on the Philips contract

Outlook 2008 positive

Markets offer many opportunities; strong backlog

Sustainability, climate change, urban renewal, mobillity and energy are growth drivers

Economic uncertainty demands cautiousness

Cost controls and intensifying marketing and sales

Acquisitions are high on the priority list

Expected increase net income from operations 2008: 10% to 15%(Barring unforeseen circumstances)

ARCADIS Building Global Leadership

Thank you