Downer completes sale of Open Cut Mining West

DOWNER COMPLETES SALE OF OPEN CUT MINING WEST Downer EDI Limited (Downer) announced today it had completed the sale of its Open Cut Mining West business to MACA Limited. As announced on 15 December 2020, Downer will receive over $200 million in cash proceeds as a result of the sale. Downer has received an initial payment of $109 million and will receive an additional $66 million in deferred consideration through 12 equal monthly instalments of $5.5 million commencing in February. The balance of the proceeds is approximately $30 million and will be received from the unwinding of working capital balances. For further information please contact: Michael Sharp, Group Head of Corporate Affairs and Investor Relations +61 439 470 145 End CA:00366947 For:DOW Type:GENERAL Time:2021-02-01 12:50:29