Investor Presentaiton

Segment underlying performance overview Downer Transport Revenue of $6.9bn (- 10.3%) A EBITA of $288.9m (▲ 7.2%) EBITA margin of 4.2% (0.1pp) Road Services strong volumes in 2H following heavily impacted 1H Rail & Transit Systems grew both revenue and margin during the period due to performance on long-term rail maintenance contracts and final delivery phase on HCMT Strong relative performance in Projects Australia in 2H² Utilities Revenue of $2.3bn (11.2%) EBITA loss of ($10.3m) (>100%) EBITA margin of (0.5%) (3.5pp) Underperformance in 2H Power maintenance contract Water projects in Australia NZ renewable wind farm project Meter reading business Telco business performed well in both Australia and New Zealand Facilities1 Revenue of $3.4bn (4.9%) EBITA of $162.1m (▸ flat) EBITA margin of 4.7% (0.2pp) Government (State Housing and NSW WoG contracts) and Health & Education (nRAH and Bendigo Hospital post reviewable services) performing well Defence minor capital work spending slowed in 2H, adversely impacting margins Industrial & Energy performing well with result impacted by contract loss due to subcontractor default Corporate Corporate costs of $117.3m (16.7%) Includes $10.5m settlement of claim Benefit from current cost out program expected in FY24 Additional investment in IT SaaS project costs, now required to be expensed when incurred Inflation impact (labour and other costs) Comparative FY22 results have been restated to reflect the impact of historical misreporting of revenue and contract assets in one of Downer's maintenance contracts in its Australian Utilities business ($16.7m, $11.6m after-tax), and to reflect the change in operating segment of Power Systems from the Transport segment to the Utilities segment and Building Projects from Facilities to Transport. Refer to slide 33 for reconciliation. 1 Comparatives exclude Hospitality 2 Australian Transport Projects business unit generated revenue of approximately $1.1bn in FY23, at 3.6% EBITA margin (above historical average) Downer FY23 Results | 14

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