Investor Presentaiton

Progress against strategy in FY23 We are making good progress against our announced plan and key targets Targeting >4.5% EBITA margin (in FY25) As announced on 27 February 2023 Reset operating model and cost base - Targeting >$100m cost out Continue to simplify current portfolio Downer Operational excellence and risk management Progress to date New trans-Tasman operating model commenced 1 July as planned Removed duplication in New Zealand and Australian corporate office structures Significant changes in leadership roles 400 FTE roles to be removed in 2023 (ahead of schedule) Priority divestments actioned, including Australian Transport Projects Sale of Mechanical & Commercial Contracting business announced Other minor non-core businesses subject to on-going review Divestments dependent upon market conditions and realising maximum value Board governance remit expanded - Project Governance Committee New Chief Financial Officer commenced 1 July Chief Risk Officer (Ashley Mason) commencing September Project portfolio review completed Downer FY23 Results | 5

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