Downer completes wholesale debt capital markets transaction

30 May 2018 DOWNER COMPLETES JPY10 BILLION (AUD120 MILLION) WHOLESALE DEBT CAPITAL MARKETS TRANSACTION Downer EDI Limited (Downer) announced today it has issued JPY10 billion (approximately AUD120 million equivalent) of medium term notes under its existing debt issuance program ("Notes"). The Notes have a 15-year tenor and mature in May 2033. The Notes were issued on a fixed rate Yen basis and fully hedged into fixed rate Australian dollars. The funds will be used for general corporate purposes. The Chief Financial Officer of Downer, Michael Ferguson, said this was Downer's first transaction in the Japanese institutional investor market. "We have achieved our objectives of increasing the company's borrowing capacity, further extending the maturity profile and continuing to diversify our funding sources," Mr Ferguson said. "The 15-year tenor is a notable feature of the transaction and is well suited to the increasing number of long term contracts being delivered across the Downer Group. The company is very pleased to have obtained Japanese institutional investor support and the new transaction will increase the weighted average maturity of Downer's borrowings to 4.6 years" Application has been made for the Notes to be quoted as a wholesale debt listing on the Australian Securities Exchange. The transaction was arranged by SMBC Nikko Capital Markets Limited. The Notes have been assigned an expected rating of BBB (EXP) by Fitch Ratings. For further information please contact: Michael Sharp, Group Head of Corporate Affairs and Investor Relations +612 439 470145 End CA:00318734 For:DOW Type:MKTUPDTE Time:2018-05-31 08:31:11