Downer EDI : defers payment of Interim Dividend to September 2020

Downer EDI Limited

ABN 97 003 872 848

Triniti Business Campus

39 Delhi Road

North Ryde NSW 2113

1800 DOWNER

www.downergroup.com

Media/ASX and NZX Release

24 March 2020

DOWNER DEFERS PAYMENT OF INTERIM DIVIDEND UNTIL SEPTEMBER 2020

Downer EDI Limited (Downer) announced today that it will defer payment of its interim dividend ($83 million) until September 2020.

The Chief Executive Officer of Downer, Grant Fenn, said the deferral was a prudent measure in the current environment.

"As we informed the market last week, Downer has a strong balance sheet, significant available liquidity and comfortable headroom in its bank covenants," Mr Fenn said. "The Downer Group has only $50 million of debt facilities maturing in the next 12 months and this can be funded using existing, committed facilities."

Mr Fenn said that demand for Downer's services is expected to remain strong as the Group's business is predominantly government and critical infrastructure.

"Nevertheless, in the extraordinary environment created by COVID-19 we consider it is appropriate to defer payment of the interim dividend until September 2020," he said.

Downer's interim dividend of 14 cents per share, unfranked, will now be paid on 25 September 2020 to shareholders on the register at 26 February 2020.

Authorised for release by Grant Fenn, CEO of Downer.

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. Downer employs more than 53,000 people across more than 300 sites, primarily in Australia and New Zealand, but also in the Asia-Pacific region, South America and Southern Africa. It also owns 88 per cent of Spotless Group Holdings Limited. For more information visit downergroup.com.

For further information please contact:
Michael Sharp, Group Head of Corporate Affairs and Investor Relations	[phone]

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