EPC Contractor Settlement

20 Feb 2025 11:57 CET

Pembroke Olive Downs Pty Ltd (“Issuer”) is party to an Amended and Re-stated
Engineer, Procure and Construct Contract (“Contract”) dated 28 March 2022 for
the Coal Handling and Processing Plant at the Olive Downs complex with Sedgman
Pty Limited (ABN 86 088 471 667) and CPB Contractors Pty Limited (ABN 98 000 893
667) trading as Sedgman CPB Joint Venture (“SCJV”).
In accordance with Pembroke’s announcement to the market dated 18 November 2024,
on 13 November 2024, the Issuer received an application made by SCJV under the
Building Industry Fairness (Security of Payment) Act 2017 (Queensland) for
adjudication of a payment claim (“Claim”) under the Contract.

On 14 February 2025, the Issuer and SCJV reached a settlement in relation to the
Claim, and SJCV withdrew the adjudication application. Settlement was made at an
amount below the lower range of the amounts presented in the notice. The Claim
is now closed.

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639267_20250220 SCJV matter - SOPA - Bondholders Notice - vF.pdf