Sale of Open Cut Mining West

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Media/ASX and NZX Release
15 December 2020
SALE OF OPEN CUT MINING WEST

Downer EDI Limited (Downer) announced today it had entered into an agreement to sell its Western
Australian open cut mining business (Open Cut Mining West) to MACA Limited (MACA).

The sale results in the transferring of certain assets (including fleet and inventory) and liabilities, and the
novation of the existing contracts, to MACA.

As a result of the sale, Downer will receive over $200 million in cash proceeds. This comprises the sale price
of $175.0 million as well as approximately $30 million from the unwinding of working capital balances. The
sale price includes deferred consideration of $66 million which will be paid in 12 equal monthly instalments
following completion.

The Chief Executive Officer of Downer, Grant Fenn, said the sale of Open Cut Mining West marks another
important step in the implementation of Downer’s Urban Services strategy.

“An important part of our Urban Services strategy is to exit our capital-intensive Mining business,” Mr Fenn
said. “The sale of Open Cut Mining West follows the sale of Downer Blasting Services, the Snowden
consulting business and our share in the RTL Mining and Earthworks joint venture. The proceeds received
from these four transactions is in line with the carrying value of these businesses.

“We remain in active discussions with a number of interested parties in relation to the other parts of the
Mining portfolio namely Open Cut Mining East, Underground, and the Otraco tyre management business.”

Earlier this month, Downer announced the sale of 70% of its Laundries business as well as the refinancing of
its debt platform through the establishment of a $1.4 billion sustainability linked syndicated loan facility.

Completion of the sale of Open Cut Mining West, which is subject to customary conditions, is expected to
occur early in the 2021 calendar year.




Authorised for release by Downer’s Chief Executive Officer, Grant Fenn.

About Downer
Downer is the leading provider of integrated services in Australia and New Zealand and customers are at the
heart of everything it does. It exists to create and sustain the modern environment and its promise is to work
closely with its customers to help them succeed, using world-leading insights and solutions to design, build
and sustain assets, infrastructure and facilities. For more information visit www.downergroup.com

For further information please contact:
Michael Sharp, Group Head of Corporate Affairs and Investor Relations +61 439 470 145

Downer EDI Limited
ABN 97 003 872 848
Triniti Business Campus
39 Delhi Road
North Ryde NSW 2113
1800 DOWNER
www.downergroup.com