Downer defers payment of Interim Dividend to 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. For further information please contact: Michael Sharp, Group Head of Corporate Affairs and Investor Relations +61 439 470 145 End CA:00350528 For:DOW Type:CORPACT Time:2020-03-24 11:00:19