Downer completes Retail Entitlement Offer

DOWNER COMPLETES RETAIL ENTITLEMENT OFFER 19 August 2020 Downer EDI Limited (Downer) announced today the successful completion of the retail component (Retail Entitlement Offer) of its 1 for 5.58 accelerated pro rata non-renounceable entitlement offer (Entitlement Offer) that was announced on 21 July 2020. The Retail Entitlement Offer closed at 5.00pm (Sydney time) on Friday, 14 August 2020, raising gross proceeds of approximately $68 million. Eligible retail shareholders subscribed for a total of approximately 9.2 million new shares under the Retail Entitlement Offer. This represents an eligible take-up rate of approximately 51% of new shares available under the Retail Entitlement Offer. Approximately 8.8 million new shares, representing entitlements not taken up by eligible retail shareholders and entitlements of ineligible foreign shareholders, will be allocated to sub-underwriters. Together with the institutional component of the Entitlement Offer, the total amount raised under the Entitlement Offer is approximately $400 million. The approximately 18.0 million new shares under the Retail Entitlement Offer ("New Shares") are expected to be issued on Friday, 21 August 2020 and will commence trading on a normal settlement basis on Monday 24 August 2020. New Shares issued under the Retail Entitlement Offer will rank equally with existing shares, other than that the New Shares will not be eligible for the 2020 interim dividend of 14 cents per share to be paid on 25 September 2020 as this dividend had an ex-dividend date of 25 February 2020 and a record date of 26 February 2020. Authorised for release by Downer's Chief Executive Officer. For further information please contact: Michael Sharp, Group Head of Corporate Affairs and Investor Relations +61 439 470 145 End CA:00358284 For:DOW Type:OFFER Time:2020-08-19 11:32:19