Change in substantial holding

Heading
Form 604
Corporations Act 2001
Section 671B
Notice of change of interests of substantial holder


To: Company Name/Scheme Downer EDI Limited (DOW)
ACN/ARSN ACN 003 872 848


1. Details of substantial holder (1)
Name
Perpetual Limited and its related bodies corporate
ACN/ARSN (if applicable) ACN 000 431 827


There was a change in the interests of the
substantial holder on
07/05/2025
The previous notice was given to the company on 11/02/2025
The previous notice was dated 07/02/2025


2. Previous and present 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 when last required, and when now required, to give a substantial holding
notice to the company or scheme, are as follows:
Class of securities (4) Previous notice Present notice
Person’s votes Voting power (5) Person’s votes Voting power (5)
Ordinary 37,189,515 5.537% 44,409,904 6.613%


3. Changes in relevant interests
Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting
securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the
company or scheme are as follows:
Date of
change
Person whose relevant
interest changed
Nature of
change (6)
Consideration given in
relation to change (7)
Class and number
of securities
affected
Person's votes
affected
Refer to annexure A



4. Present relevant interests
Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:
Holder of
relevant
interest
Registered holder of
securities
Person entitled to
be registered as
holder (8)
Nature of relevant
interest (6)
Class and number
of securities
Person's votes

Refer to annexure B

5. Changes in association
The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association
(9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:
Name and ACN/ARSN (if applicable) Nature of association




6. Addresses
The addresses of persons named in this form are as follows:
Name Address
Perpetual Limited (PPT) Level 14, 123 Pitt Street Sydney, NSW 2000
Perpetual Investment Management Limited (PIML) Level 14, 123 Pitt Street Sydney, NSW 2000
Pendal Group Limited (PDL) Level 14, 123 Pitt Street Sydney, NSW 2000
Pendal Fund Services Limited (PFSL) Level 14, 123 Pitt Street Sydney, NSW 2000
Downer EDI Limited (DOW)
Level 2, Triniti III, Triniti Business Campus, 39 Delhi Road, North
Ryde, NSW 2113


Signature


print name Sylvie Dimarco capacity Company Secretary
sign here

date 09/05/2025

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 6 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 person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
(6) Include details of:
(a)
any relevant agreement or other circumstances because of which the change in relevant interest occurred. 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.
(7) 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.
(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) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

ANNEXURE A
This is annexure ‘A’ referred to in Form 604, Notice of change of interests of substantial holder, lodged for Perpetual Limited
ACN 000 431 827
Sylvie Dimarco – Company Secretary, Perpetual Limited 09/05/2025

Entity Custodian Date
Transaction
Type
Consideration
(Cash)
Class
(Ordinary)
and number
Person's
vote affected
PFSL
HSBC Custody Nominees (Australia)
Limited
2025-04-01 Purchase 314,265.22 56,860 56,860
PFSL UBS Nominees Pty Limited 2025-02-13 Purchase 231,283.69 42,763 42,763
PFSL UBS Nominees Pty Limited 2025-02-14 Purchase 60,345.52 11,248 11,248
PFSL UBS Nominees Pty Limited 2025-02-14 Purchase 176,009.96 33,175 33,175
PFSL UBS Nominees Pty Limited 2025-02-17 Purchase 177,741.98 33,040 33,040
PFSL UBS Nominees Pty Limited 2025-02-18 Purchase 147,838.85 27,331 27,331
PFSL UBS Nominees Pty Limited 2025-02-19 Purchase 147,865.80 26,814 26,814
PFSL UBS Nominees Pty Limited 2025-02-20 Purchase 72,962.09 13,105 13,105
PFSL UBS Nominees Pty Limited 2025-02-21 Purchase 63,658.19 11,315 11,315
PFSL UBS Nominees Pty Limited 2025-02-24 Purchase 108,362.74 19,165 19,165
PFSL UBS Nominees Pty Limited 2025-02-26 Purchase 229,106.16 41,396 41,396
PFSL UBS Nominees Pty Limited 2025-02-27 Purchase 681,597.42 121,393 121,393
PFSL UBS Nominees Pty Limited 2025-05-07 Purchase 4,478.76 783 783
PFSL UBS Nominees Pty Limited 2025-05-07 Purchase 395,116.96 68,428 68,428
PIL Citibank, N.A. 2025-02-13 Purchase 1,043,916.22 193,014 193,014
PIL Citibank, N.A. 2025-02-14 Purchase 272,364.96 50,767 50,767
PIL Citibank, N.A. 2025-02-14 Purchase 794,461.49 149,743 149,743
PIL Citibank, N.A. 2025-02-17 Purchase 802,254.37 149,129 149,129
PIL Citibank, N.A. 2025-02-18 Purchase 667,295.14 123,363 123,363
PIL Citibank, N.A. 2025-02-19 Purchase 667,403.39 121,027 121,027
PIL Citibank, N.A. 2025-02-20 Purchase 329,317.63 59,150 59,150
PIL Citibank, N.A. 2025-02-21 Purchase 287,336.70 51,073 51,073
PIL Citibank, N.A. 2025-02-24 Purchase 489,116.57 86,505 86,505
PIL Citibank, N.A. 2025-02-26 Purchase 1,034,652.64 186,946 186,946
PIL Citibank, N.A. 2025-02-26 Purchase 45,322.02 8,189 8,189
PIL Citibank, N.A. 2025-02-27 Purchase 3,078,156.89 548,222 548,222
PIL Citibank, N.A. 2025-02-27 Purchase 134,828.19 24,013 24,013
PIL Citibank, N.A. 2025-03-10 Purchase 178,805.64 33,299 33,299
PIL Citibank, N.A. 2025-03-21 Sale -28,289.36 -5,185 -5,185
PIL Citibank, N.A. 2025-05-07 Purchase 1,786,306.51 309,360 309,360
PIL Citibank, N.A. 2025-05-07 Purchase 20,260.24 3,542 3,542
PIL
HSBC Custody Nominees (Australia)
Limited
2025-02-26 Purchase 23,045.66 4,164 4,164
PIL
HSBC Custody Nominees (Australia)
Limited
2025-02-27 Purchase 68,556.71 12,210 12,210
PIL
HSBC Custody Nominees (Australia)
Limited
2025-04-30 Purchase 87,058.48 15,244 15,244
PIL
J.P. Morgan Nominees Australia Pty
Limited
2025-02-26 Purchase 59,944.17 10,831 10,831
PIL
J.P. Morgan Nominees Australia Pty
Limited
2025-02-26 Purchase 40,617.70 7,339 7,339
PIL
J.P. Morgan Nominees Australia Pty
Limited
2025-02-26 Purchase 87,378.69 15,788 15,788
PIL
J.P. Morgan Nominees Australia Pty
Limited
2025-02-27 Purchase 178,342.89 31,763 31,763
PIL
J.P. Morgan Nominees Australia Pty
Limited
2025-02-27 Purchase 120,847.34 21,523 21,523

PIL
J.P. Morgan Nominees Australia Pty
Limited
2025-02-27 Purchase 259,965.24 46,300 46,300
PIL
J.P. Morgan Nominees Australia Pty
Limited
2025-03-12 Purchase 373,934.04 72,876 72,876
PIL
J.P. Morgan Nominees Australia Pty
Limited
2025-03-12 Purchase 253,383.98 49,382 49,382
PIL
J.P. Morgan Nominees Australia Pty
Limited
2025-03-12 Purchase 545,071.62 106,229 106,229
PIL
J.P. Morgan Nominees Australia Pty
Limited
2025-04-01 Purchase 70,286.86 12,717 12,717
PIL JPMorgan Nominees Australia Limited 2025-02-26 Purchase 363,101.94 65,607 65,607
PIL JPMorgan Nominees Australia Limited 2025-02-27 Purchase 1,080,253.83 192,394 192,394
PIL JPMorgan Nominees Australia Limited 2025-03-12 Purchase 2,264,652.03 441,358 441,358
PIL JPMorgan Nominees Australia Limited 2025-03-26 Purchase 11,862,999.88 2,164,781 2,164,781
PIL JPMorgan Nominees Australia Limited 2025-04-11 Purchase 395,487.34 73,172 73,172
PIL Northern Trust Company Limited 2025-02-13 Purchase 618,023.89 114,269 114,269
PIL Northern Trust Company Limited 2025-02-14 Purchase 161,250.44 30,056 30,056
PIL Northern Trust Company Limited 2025-02-14 Purchase 470,337.88 88,651 88,651
PIL Northern Trust Company Limited 2025-02-17 Purchase 474,948.75 88,287 88,287
PIL Northern Trust Company Limited 2025-02-18 Purchase 395,050.10 73,033 73,033
PIL Northern Trust Company Limited 2025-02-19 Purchase 395,119.44 71,651 71,651
PIL Northern Trust Company Limited 2025-02-20 Purchase 194,968.28 35,019 35,019
PIL Northern Trust Company Limited 2025-02-21 Purchase 170,107.74 30,236 30,236
PIL Northern Trust Company Limited 2025-02-24 Purchase 289,568.54 51,213 51,213
PIL Northern Trust Company Limited 2025-02-26 Purchase 644,005.49 116,362 116,362
PIL Northern Trust Company Limited 2025-02-27 Purchase 1,915,960.66 341,234 341,234
PIL Northern Trust Company Limited 2025-04-01 Purchase 121,610.58 22,003 22,003
PIL Northern Trust Company Limited 2025-04-01 Purchase 34,704.03 6,279 6,279
PIL Northern Trust Company Limited 2025-05-07 Purchase 1,111,879.95 192,560 192,560
PIL Northern Trust Company Limited 2025-05-07 Purchase 12,606.88 2,204 2,204
PIL State Street Bank & Trust Company 2025-02-26 Purchase 20,660.29 3,733 3,733
PIL State Street Bank & Trust Company 2025-02-27 Purchase 61,470.83 10,948 10,948

ANNEXURE B
This is annexure ‘B’ referred to in Form 604, Notice of change of interests of substantial holder, lodged for Perpetual Limited
ACN 000 431 827
Sylvie Dimarco – Company Secretary, Perpetual Limited 09/05/2025

Holder of relevant
interest
Registered holder securities Persons entitled to be registered holder
Number of
securities
Number of
votes
PFSL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
1,112,091 1,112,091
PFSL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
1,701,801 1,701,801
PFSL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
5,657,856 5,657,856
PFSL UBS Nominees Pty Limited UBS Nominees Pty Limited 1,654,174 1,654,174
PIL Citibank, N.A. Citibank, N.A. 404,306 404,306
PIL Citibank, N.A. Citibank, N.A. 715,969 715,969
PIL Citibank, N.A. Citibank, N.A. 7,468,060 7,468,060
PIL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
348,840 348,840
PIL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
590,819 590,819
PIL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
781,700 781,700
PIL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
2,645,579 2,645,579
PIL
J.P. Morgan Nominees Australia Pty
Limited
J.P. Morgan Nominees Australia Pty Limited 844,568 844,568
PIL
J.P. Morgan Nominees Australia Pty
Limited
J.P. Morgan Nominees Australia Pty Limited 928,648 928,648
PIL
J.P. Morgan Nominees Australia Pty
Limited
J.P. Morgan Nominees Australia Pty Limited 1,244,643 1,244,643
PIL
J.P. Morgan Nominees Australia Pty
Limited
J.P. Morgan Nominees Australia Pty Limited 1,818,737 1,818,737
PIL
J.P. Morgan Nominees Australia Pty
Limited
J.P. Morgan Nominees Australia Pty Limited 2,237,953 2,237,953
PIL
J.P. Morgan Nominees Australia Pty
Limited
J.P. Morgan Nominees Australia Pty Limited 7,571,899 7,571,899
PIL National Nominees Limited National Nominees Limited 375,451 375,451
PIL Northern Trust Company Limited Northern Trust Company Limited 370,371 370,371
PIL Northern Trust Company Limited Northern Trust Company Limited 1,270,389 1,270,389
PIL Northern Trust Company Limited Northern Trust Company Limited 4,648,097 4,648,097
PIML
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
17,953 17,953