McConnell Dowell 2018 Annual Review

Waterview Tunnel, New Zealand 28% Revenue Growth Strong Project Performance driving revenue growth Over $2B Work in Hand and Preferred Existing Order Book plus $1.3B preferred status or sole source position. Multiple contract awards expected over coming period $142M Cash Balance As at 30 June 2018 Ahead of budgeted cash position $26.4M EBITDA Return to profitability & delivered expectations Business Units entering growth phase and returning to profitability McConnell Dowell Annual Review 2018 17