McConnell Dowell 2025 Financial Statements

36 Joint Operations 2025 2024 Name Principal activity Principal place of business % % McConnell Dowell/ Diona - JV - SA Water Frameworks Project Construction Australia 50% 50% McConnell Dowell / BMD Constructions (Fitzroy to Gladstone Pipeline) Construction Australia 50% 50% McConnell Dowell / Heb Contractors (Wellington Sludge Minimisation) Construction New Zealand 50% 50% McConnell Dowell / Fulton Hogan Joint Venture Design and Construct New Zealand 50% 50% McConnell Dowell / CPB Contractors (Tram Grade Separation Project) Construction Australia 50% 50% McConnell Dowell / GE Betz / United Group Infrastructure (WSRW) Construction Australia 20% 20% McConnell Dowell / OHL SA (K2K) Construction Australia 50% 50% McConnell Dowell / Downer (CSM2) Construction New Zealand 50% 50% McConnell Dowell / Heb Contractors (Pukekohe) Construction New Zealand 50% 50% McConnell Dowell / Decmil (Mordialloc Bypass) Construction Australia 60% 60% McConnell Dowell PP Pesero TBK JV – Palembang City Sewerage Project Construction Indonesia 51% 51% McConnell Dowell / Fulton Hogan / HEB Constractors (Northern Pathway Alliance) Construction New Zealand 33% 33% McConnell Dowell / John Holland McConnell Dowell JV – JRL 108 (LTA) Construction Singapore 100% 100% McConnell Dowell / DT Infrastructure (Waurn Ponds) Construction Australia 50% 50% McConnell Dowell / Downer EDI Works (Waurn Ponds) Construction Australia 50% 50% McConnell Dowell / Georgiou / Arcadis / BG&E (Midland Station) Construction Australia 52% 52% McConnell Dowell / Martinus Rail (Murray Basin) Construction Australia 80% 80% McConnell Dowell / John Holland (Papakura to Pukekohe) Construction New Zealand 50% 50% McConnell Dowell / John Holland (Kidston Hydro) Construction Australia 50% 50% McConnell Dowell / Fletchers / Obayashi (Waterview maintenance) Maintenance New Zealand 23% 23% Pursuant to the joint operation agreements, key operational decisions of the joint arrangements require a unanimous vote and therefore the consolidated entity has joint control, including in instances where the Group's interest is greater or less than 50%. Consolidated Ownership interest 11. Interest in joint arrangements Notes to the annual financial statements (continued)

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