Company Announcement

We take pride in sharing with you news of an exciting development for our company, its employees and our clients. We have entered into a Sale and Purchase Agreement – subject to a few Conditions
Precedent – for Citywide to acquire Gordon McKay Pty Ltd, and our Tasmanian subsidiary Frontline Electrical Pty Ltd.

The sale underwrites the continuation of the Gordon McKay and Frontline business’s in a complimentary harmonious relationship with a new owner that trades under the same values and
principles that over many years has established our enviable reputation in our respective areas of operation.

Equally important, Citywide values the established commercial relationships we have between our clients and our skilled and dedicated employees and staff that has been central to our ongoing business success.

To maintain and build on this strong foundation, there are no changes planned to the structure of our businesses with our management, staff and trades continuing in their current roles. Gordon McKay and Frontline Electrical trading names and branding will be retained.

The sale to Citywide is a commitment to “Business as Usual” for our current operations with the exciting potential to partner with an ownership that presents outstanding opportunities for
expansion and growth.

Who are Citywide? (please also refer to www.citywide.com.au)

Citywide is owned by the City of Melbourne, although operates independently and is overseen by an non‐executive Board, chaired by the Hon. John Brumby AO, the former Premier of Victoria. Citywide has currently over 900 permanent employees with annual revenue of $240m p.a.

Citywide provides civil construction, infrastructure maintenance, open space, arboriculture, horticulture, and turf management, traffic and event management, as well as waste management
service solutions to clients including local councils, utilities and commercial enterprises across the eastern states of Australia.

Built on similar underpinning values as Gordon McKay and Frontline Electrical, Citywide recognises the intrinsic value this acquisition brings with its enduring relationships between our clients and our employees and staff. Maintaining and developing these relationships will be a guiding principle in the ongoing business focus.

Citywide looks forward to welcoming each and every Gordon McKay and Frontline Electrical employee to Citywide.

Regards,
Gavin McKay, Managing Director