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
25/09/2026
The previous notice was given to the company on 20/08/2026
The previous notice was dated 18/08/2026


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 33,306,373 5.054% 39,605,045 6.067%


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
Perpetual Trustee Company Limited (PTCO) Level 14, 123 Pitt Street Sydney, NSW 2000
Pendal Group Limited (PDL) Level 14, 123 Pitt Street Sydney, NSW 2000
Pendal Institutional Limited (PIL) 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 29/09/2026

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 29/09/2026

Entity Custodian Date
Transaction
Type
Consideration
(Cash)
Class (Ordinary)
and number
Person's vote
affected
PFSL State Street Bank & Trust Company 2026-08-24 Purchase 517,662.70 78,020 78,020
PFSL State Street Bank & Trust Company 2026-08-24 Purchase 1,359,247.26 204,854 204,854
PFSL State Street Bank & Trust Company 2026-08-24 Purchase 74,444.70 11,220 11,220
PFSL State Street Bank & Trust Company 2026-08-24 Purchase 195,466.36 29,459 29,459
PFSL State Street Bank & Trust Company 2026-08-25 Purchase 36,516.25 5,491 5,491
PFSL State Street Bank & Trust Company 2026-08-25 Purchase 5,253.66 790 790
PFSL State Street Bank & Trust Company 2026-08-26 Purchase 923,517.81 136,504 136,504
PFSL State Street Bank & Trust Company 2026-08-26 Purchase 132,806.77 19,630 19,630
PFSL State Street Bank & Trust Company 2026-08-27 Purchase 466,023.33 69,811 69,811
PFSL State Street Bank & Trust Company 2026-08-27 Purchase 67,015.34 10,039 10,039
PFSL State Street Bank & Trust Company 2026-08-28 Purchase 477,121.09 72,197 72,197
PFSL State Street Bank & Trust Company 2026-08-28 Purchase 68,617.09 10,383 10,383
PFSL State Street Bank & Trust Company 2026-08-31 Purchase 47,637.01 7,297 7,297
PFSL State Street Bank & Trust Company 2026-09-01 Purchase 305,831.80 46,774 46,774
PFSL State Street Bank & Trust Company 2026-09-01 Purchase 358,676.65 54,643 54,643
PFSL State Street Bank & Trust Company 2026-09-02 Purchase 451,109.17 70,928 70,928
PFSL State Street Bank & Trust Company 2026-09-10 Purchase 377,337.57 57,136 57,136
PFSL State Street Bank & Trust Company 2026-09-14 Purchase 520,207.55 79,421 79,421
PFSL State Street Bank & Trust Company 2026-09-14 Purchase 192,406.34 29,328 29,328
PFSL State Street Bank & Trust Company 2026-09-17 Purchase 343,709.05 51,854 51,854
PFSL State Street Bank & Trust Company 2026-09-23 Purchase 387,334.97 58,175 58,175
PFSL State Street Bank & Trust Company 2026-09-24 Purchase 383,531.57 57,583 57,583
PFSL UBS Nominees Pty Limited 2026-08-20 Purchase 910,879.19 137,989 137,989
PFSL UBS Nominees Pty Limited 2026-08-26 Purchase 316,629.51 46,793 46,793
PFSL UBS Nominees Pty Limited 2026-08-27 Purchase 171,453.54 25,684 25,684
PFSL UBS Nominees Pty Limited 2026-08-28 Purchase 175,537.63 26,562 26,562
PIL BNP Paribas Securities Services 2026-08-24 Purchase 193,098.41 29,103 29,103
PIL BNP Paribas Securities Services 2026-08-24 Purchase 507,042.08 76,417 76,417
PIL BNP Paribas Securities Services 2026-08-25 Purchase 13,619.61 2,048 2,048
PIL BNP Paribas Securities Services 2026-08-26 Purchase 344,499.26 50,920 50,920
PIL BNP Paribas Securities Services 2026-08-27 Purchase 173,843.37 26,042 26,042
PIL BNP Paribas Securities Services 2026-08-28 Purchase 177,982.82 26,932 26,932
PIL BNP Paribas Securities Services 2026-09-21 Purchase 302,408.51 45,889 45,889
PIL BNP Paribas Securities Services 2026-09-22 Purchase 113,437.64 17,187 17,187
PIL BNP Paribas Securities Services 2026-09-24 Purchase 416,940.64 62,599 62,599
PIL Citibank, N.A. 2026-08-20 Purchase 4,166,673.73 631,209 631,209
PIL Citibank, N.A. 2026-08-24 Purchase 6,681.45 1,007 1,007
PIL Citibank, N.A. 2026-08-24 Purchase 17,536.83 2,643 2,643
PIL Citibank, N.A. 2026-08-25 Purchase 472.1642 71 71

PIL Citibank, N.A. 2026-08-26 Purchase 1,448,180.97 214,019 214,019
PIL Citibank, N.A. 2026-08-26 Purchase 11,914.05 1,761 1,761
PIL Citibank, N.A. 2026-08-27 Purchase 784,177.66 117,471 117,471
PIL Citibank, N.A. 2026-08-27 Purchase 6,014.63 901 901
PIL Citibank, N.A. 2026-08-28 Purchase 802,858.99 121,487 121,487
PIL Citibank, N.A. 2026-08-28 Purchase 6,152.61 931 931
PIL Citibank, N.A. 2026-08-31 Purchase 27,895.43 4,273 4,273
PIL Citibank, N.A. 2026-09-01 Purchase 179,069.90 27,387 27,387
PIL Citibank, N.A. 2026-09-02 Purchase 264,141.31 41,531 41,531
PIL Citibank, N.A. 2026-09-23 Purchase 226,491.45 33,971 33,971
PIL Citicorp Nominees Pty Ltd 2026-08-31 Purchase 9,844.68 1,508 1,508
PIL Citicorp Nominees Pty Ltd 2026-09-01 Purchase 63,220.76 9,669 9,669
PIL Citicorp Nominees Pty Ltd 2026-09-02 Purchase 93,251.79 14,662 14,662
PIL Citicorp Nominees Pty Ltd 2026-09-14 Purchase 121,155.35 18,497 18,497
PIL Citicorp Nominees Pty Ltd 2026-09-23 Purchase 81,561.73 12,250 12,250
PIL Citicorp Nominees Pty Ltd 2026-09-24 Purchase 80,691.96 12,115 12,115
PIL
HSBC Custody Nominees (Australia)
Limited
2026-08-31 Purchase 28,509.09 4,367 4,367
PIL
HSBC Custody Nominees (Australia)
Limited
2026-08-31 Purchase 5,536.00 848 848
PIL
HSBC Custody Nominees (Australia)
Limited
2026-08-31 Purchase 10,660.71 1,633 1,633
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-01 Purchase 183,038.77 27,994 27,994
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-01 Purchase 35,556.36 5,438 5,438
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-01 Purchase 68,451.56 10,469 10,469
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-02 Purchase 269,992.61 42,451 42,451
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-02 Purchase 52,445.38 8,246 8,246
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-02 Purchase 100,966.59 15,875 15,875
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-14 Purchase 326,563.35 49,857 49,857
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-14 Purchase 63,567.75 9,705 9,705
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-23 Purchase 232,693.94 34,949 34,949
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-23 Purchase 45,335.00 6,809 6,809
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-23 Purchase 86,566.92 12,984 12,984
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-24 Purchase 230,253.49 34,570 34,570
PIL
HSBC Custody Nominees (Australia)
Limited
2026-09-24 Purchase 44,878.45 6,738 6,738
PIL
J.P. Morgan Nominees Australia Pty
Limited
2026-08-24 Purchase 46,531.26 7,013 7,013
PIL
J.P. Morgan Nominees Australia Pty
Limited
2026-08-24 Purchase 122,173.94 18,413 18,413
PIL
J.P. Morgan Nominees Australia Pty
Limited
2026-08-25 Purchase 3,285.20 494 494
PIL
J.P. Morgan Nominees Australia Pty
Limited
2026-08-26 Purchase 83,012.69 12,270 12,270
PIL
J.P. Morgan Nominees Australia Pty
Limited
2026-08-27 Purchase 41,888.76 6,275 6,275
PIL
J.P. Morgan Nominees Australia Pty
Limited
2026-08-28 Purchase 42,883.21 6,489 6,489
PIL
J.P. Morgan Nominees Australia Pty
Limited
2026-09-21 Purchase 76,595.57 11,623 11,623
PIL
J.P. Morgan Nominees Australia Pty
Limited
2026-09-22 Purchase 28,737.27 4,354 4,354
PIL
J.P. Morgan Nominees Australia Pty
Limited
2026-09-24 Purchase 105,602.23 15,855 15,855
PIL
JPMorgan Nominees Australia
Limited
2026-08-24 Purchase 643,667.99 97,011 97,011
PIL
JPMorgan Nominees Australia
Limited
2026-08-24 Purchase 1,690,124.78 254,721 254,721
PIL
JPMorgan Nominees Australia
Limited
2026-08-25 Purchase 45,407.57 6,828 6,828

PIL
JPMorgan Nominees Australia
Limited
2026-08-26 Purchase 1,148,328.61 169,733 169,733
PIL
JPMorgan Nominees Australia
Limited
2026-08-27 Purchase 579,460.10 86,804 86,804
PIL
JPMorgan Nominees Australia
Limited
2026-08-28 Purchase 593,260.63 89,771 89,771
PIL
JPMorgan Nominees Australia
Limited
2026-09-03 Purchase 1,605,021.91 251,185 251,185
PIL
JPMorgan Nominees Australia
Limited
2026-09-21 Purchase 1,116,570.06 169,434 169,434
PIL
JPMorgan Nominees Australia
Limited
2026-09-22 Purchase 418,842.09 63,459 63,459
PIL
JPMorgan Nominees Australia
Limited
2026-09-24 Purchase 1,539,601.22 231,154 231,154
PIL Northern Trust Company Limited 2026-08-20 Purchase 2,594,463.34 393,035 393,035
PIL Northern Trust Company Limited 2026-08-24 Purchase 13,309.81 2,006 2,006
PIL Northern Trust Company Limited 2026-08-24 Purchase 34,954.23 5,268 5,268
PIL Northern Trust Company Limited 2026-08-24 Purchase 138,810.84 20,921 20,921
PIL Northern Trust Company Limited 2026-08-24 Purchase 364,484.81 54,932 54,932
PIL Northern Trust Company Limited 2026-08-24 Purchase 13,309.81 2,006 2,006
PIL Northern Trust Company Limited 2026-08-24 Purchase 34,947.60 5,267 5,267
PIL Northern Trust Company Limited 2026-08-25 Purchase 937.6782 141 141
PIL Northern Trust Company Limited 2026-08-25 Purchase 9,795.74 1,473 1,473
PIL Northern Trust Company Limited 2026-08-25 Purchase 937.6782 141 141
PIL Northern Trust Company Limited 2026-08-26 Purchase 901,757.72 133,266 133,266
PIL Northern Trust Company Limited 2026-08-26 Purchase 23,746.91 3,510 3,510
PIL Northern Trust Company Limited 2026-08-26 Purchase 247,644.36 36,604 36,604
PIL Northern Trust Company Limited 2026-08-26 Purchase 23,746.91 3,510 3,510
PIL Northern Trust Company Limited 2026-08-27 Purchase 488,299.47 73,148 73,148
PIL Northern Trust Company Limited 2026-08-27 Purchase 11,982.52 1,795 1,795
PIL Northern Trust Company Limited 2026-08-27 Purchase 124,965.36 18,720 18,720
PIL Northern Trust Company Limited 2026-08-27 Purchase 11,982.52 1,795 1,795
PIL Northern Trust Company Limited 2026-08-28 Purchase 499,927.37 75,648 75,648
PIL Northern Trust Company Limited 2026-08-28 Purchase 12,265.56 1,856 1,856
PIL Northern Trust Company Limited 2026-08-28 Purchase 127,935.89 19,359 19,359
PIL Northern Trust Company Limited 2026-08-28 Purchase 12,265.56 1,856 1,856
PIL Northern Trust Company Limited 2026-08-31 Purchase 14,669.09 2,247 2,247
PIL Northern Trust Company Limited 2026-08-31 Purchase 128,646.68 19,706 19,706
PIL Northern Trust Company Limited 2026-08-31 Purchase 13,696.37 2,098 2,098
PIL Northern Trust Company Limited 2026-09-01 Purchase 94,174.02 14,403 14,403
PIL Northern Trust Company Limited 2026-09-01 Purchase 825,891.01 126,312 126,312
PIL Northern Trust Company Limited 2026-09-01 Purchase 87,923.21 13,447 13,447
PIL Northern Trust Company Limited 2026-09-02 Purchase 138,917.30 21,842 21,842
PIL Northern Trust Company Limited 2026-09-02 Purchase 1,218,219.91 191,541 191,541
PIL Northern Trust Company Limited 2026-09-02 Purchase 129,688.80 20,391 20,391
PIL Northern Trust Company Limited 2026-09-23 Purchase 120,762.99 18,113 18,113
PIL Northern Trust Company Limited 2026-09-23 Purchase 1,059,111.39 158,854 158,854
PIL Northern Trust Company Limited 2026-09-23 Purchase 112,742.35 16,910 16,910
PIL State Street Bank & Trust Company 2026-08-24 Purchase 11,233.06 1,693 1,693
PIL State Street Bank & Trust Company 2026-08-24 Purchase 29,500.10 4,446 4,446
PIL State Street Bank & Trust Company 2026-08-25 Purchase 791.3738 119 119
PIL State Street Bank & Trust Company 2026-08-26 Purchase 20,039.41 2,962 2,962
PIL State Street Bank & Trust Company 2026-08-27 Purchase 10,113.38 1,515 1,515

PIL State Street Bank & Trust Company 2026-08-28 Purchase 10,355.68 1,567 1,567
PIL State Street Bank & Trust Company 2026-08-31 Purchase 11,946.79 1,830 1,830
PIL State Street Bank & Trust Company 2026-09-01 Purchase 76,690.07 11,729 11,729
PIL State Street Bank & Trust Company 2026-09-02 Purchase 113,114.38 17,785 17,785
PIL State Street Bank & Trust Company 2026-09-23 Purchase 98,261.19 14,738 14,738
PTCO Perpetual Trustee Company Limited 2026-08-20 Sale -4,803.90 -717 -717

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 29/09/2026

Holder of relevant
interest
Registered holder securities
Persons entitled to be registered
holder
Number of
securities
Number of
votes
PFSL State Street Bank & Trust Company State Street Bank & Trust Company 537,908 537,908
PFSL State Street Bank & Trust Company State Street Bank & Trust Company 1,084,944 1,084,944
PFSL State Street Bank & Trust Company State Street Bank & Trust Company 1,634,694 1,634,694
PFSL State Street Bank & Trust Company State Street Bank & Trust Company 5,867,714 5,867,714
PFSL State Street Bank & Trust Company State Street Bank & Trust Company 975,118 975,118
PFSL UBS Nominees Pty Limited UBS Nominees Pty Limited 1,312,248 1,312,248
PIL BNP Paribas Securities Services BNP Paribas Securities Services 1,677,597 1,677,597
PIL Citibank, N.A. Citibank, N.A. 5,897,774 5,897,774
PIL Citibank, N.A. Citibank, N.A. 871,765 871,765
PIL Citibank, N.A. Citibank, N.A. 480,279 480,279
PIL Citicorp Nominees Pty Ltd Citicorp Nominees Pty Ltd 113,195 113,195
PIL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
325,277 325,277
PIL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
63,075 63,075
PIL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
322,754 322,754
PIL
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
765,881 765,881
PIL
J.P. Morgan Nominees Australia Pty
Limited
J.P. Morgan Nominees Australia Pty
Limited
6,341,923 6,341,923
PIL
J.P. Morgan Nominees Australia Pty
Limited
J.P. Morgan Nominees Australia Pty
Limited
644,813 644,813
PIL
J.P. Morgan Nominees Australia Pty
Limited
J.P. Morgan Nominees Australia Pty
Limited
419,238 419,238
PIL National Nominees Limited National Nominees Limited 374,286 374,286
PIL Northern Trust Company Limited Northern Trust Company Limited 3,671,725 3,671,725
PIL Northern Trust Company Limited Northern Trust Company Limited 566,470 566,470
PIL Northern Trust Company Limited Northern Trust Company Limited 427,871 427,871
PIL Northern Trust Company Limited Northern Trust Company Limited 4,018,937 4,018,937
PIL Northern Trust Company Limited Northern Trust Company Limited 383,924 383,924
PIL Northern Trust Company Limited Northern Trust Company Limited 458,292 458,292
PIML
HSBC Custody Nominees (Australia)
Limited
HSBC Custody Nominees (Australia)
Limited
14,731 14,731
PIML State Street State Street 352,612 352,612