Downer EDI Limited/Announcement
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Becoming a substantial holder

Substantial Holder Notice9 March 2023DOWIndustrials

603page 1/2 15 July 2001
To Company Name/Scheme

ACN/ARSN

1. Details of substantial holder (1)

Name

ACN/ARSN (if applicable)

The holder became a substantial holder on

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a

relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)Number of securitiesPerson's votes (5)Voting power (6)

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial

holder are as follows:

Holder of relevant interestNature of relevant interest (7)Class and number of securities

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevantRegistered holder ofPerson entitled to beClass and number

interestsecuritiesregistered as holder (8)of securities

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a

substantial holder is as follows:

Holder of relevantDate of acquisitionConsideration (9)Class and number

interestof securities

CashNon-cash

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

Downer EDI Limited

003 872 848

T. Rowe Price Associates, Inc.

T. Rowe Price International Ltd

2023

Ordinary Shares

Power to exercise vote and/or dispose of

securities as discretionary investment managers

34,158,001

See Annexure 1

See Annexure 2

0307

34,158,00134,158,0015.08%

603page 2/2 15 July 2001
Signature

print namecapacity

sign heredate//

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)Nature of association

7. Addresses

The addresses of persons named in this form are as follows:

NameAddress

DIRECTIONS

(1)If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an

equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to

throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the

form.

(2)See the definition of "associate" in section 9 of the Corporations Act 2001.

(3)See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

(4)The voting shares of a company constitute one class unless divided into separate classes.

(5)The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant

interest in.

(6)The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

(7)Include details of:

(a)any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out

the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany

this form, together with a written statement certifying this contract, scheme or arrangement; and

(b)any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to

which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

(8)If the substantial holder is unable to determine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown".

(9)Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become

entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be

included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom

the relevant interest was acquired.

T. Rowe Price Associates, Inc.

T. Rowe Price International Ltd

T. Rowe Price International Ltd is a wholly owned subsidiary of T. Rowe Price Associates, Inc.

T. Rowe Price Associates, Inc.

T. Rowe Price International Ltd

100 East Pratt Street, Baltimore, MD 21202

60 Queen Victoria Street, London, EC4N 4TZ, United Kingdom

Gary GrebVice President

09032023

Annexure 1
Holder of Relevant Interest

Registered holder of

securities

Person entitled to be registered

as holder (8)

Class and number of

securities

T. Rowe Price International LtdBank of New York MellonBank of New York Mellon

372,590

ordinary shares

T. Rowe Price International LtdJP Morgan ChaseJP Morgan Chase

33,166,241

ordinary shares

T. Rowe Price International LtdState Street Bank & Trust CoState Street Bank & Trust Co

619,170

ordinary shares

This is annexure 1 referred to on page 1 of Form 603 (Notice of Initial Substantial Holder)

____________________________________

Gary Greb, Vice President9-Mar-23

Annexure 2
Holder of Relevant InterestDate of Acquisition

Consideration

(cash - AUD)

Number of SharesClass

T. Rowe Price International Ltd

14-Nov-225.03215,946

Ordinary

T. Rowe Price International Ltd

28-Nov-225.15610,000

Ordinary

T. Rowe Price International Ltd

2-Dec-225.01911,598

Ordinary

T. Rowe Price International Ltd

25-Jan-233.88418,652

Ordinary

T. Rowe Price International Ltd

3-Feb-233.81215,932

Ordinary

T. Rowe Price International Ltd2-Mar-23

3.27930,082

Ordinary

T. Rowe Price International Ltd2-Mar-23

3.279120,830

Ordinary

T. Rowe Price International Ltd2-Mar-23

3.279370,074

Ordinary

T. Rowe Price International Ltd2-Mar-23

3.27924,628

Ordinary

T. Rowe Price International Ltd2-Mar-23

3.27944,308

Ordinary

T. Rowe Price International Ltd2-Mar-23

3.2792,377

Ordinary

T. Rowe Price International Ltd6-Mar-23

3.3552,970

Ordinary

T. Rowe Price International Ltd6-Mar-23

3.35523,906

Ordinary

T. Rowe Price International Ltd6-Mar-23

3.35536,382

Ordinary

T. Rowe Price International Ltd6-Mar-23

3.3554,788

Ordinary

T. Rowe Price International Ltd6-Mar-23

3.3558,614

Ordinary

T. Rowe Price International Ltd6-Mar-23

3.355235

Ordinary

T. Rowe Price International Ltd7-Mar-23

3.348711,364

Ordinary

This is annexure 2 referred to on page 1 of Form 603 (Notice of Initial Substantial Holder)

____________________________________

Gary Greb, Vice President9-Mar-23

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