STRABAG – KEE Surfacing

WA-70043

STRABAG Australia Pty Ltd (**STRABAG Australia**) proposes to acquire 100% of the issued shares in KEE Surfacing Pty Ltd (**KEE Surfacing**). To facilitate this share sale, KEE Surfacing will acquire the asphalt-producing and paving assets of Spiers Holdings Australia Pty Ltd (**Spiers**) used to conduct KEE Surfacing’s road surfacing business (the share sale and the asset sale together, the **Acquisition**). STRABAG Australia is a wholly-owned subsidiary of STRABAG SE, a European construction group listed on the Vienna Stock Exchange (together with its related bodies corporate, the**STRABAG Group**). STRABAG Australia’s business is primarily to act as the holding company of Georgiou Group Pty Ltd (**Georgiou**), and to perform works when its overseas arms conduct business in Australia. Georgiou supplies building and infrastructure construction services across Australia in respect of major transport projects, commercial buildings, urban land development, defence projects, and resource engineering for both government and private clients. KEE Surfacing provides road surfacing services (for the purposes of road construction and maintenance) to customers in Western Australia and, to a limited extent, the Northern Territory. KEE Surfacing’s customers include businesses that operate across the road construction and maintenance value chain, including construction businesses and government clients. Spiers and KEE Surfacing Pty Ltd are separate entities under common ownership within the KEE Group. Spiers Holdings serves as the KEE Group’s dedicated asset holding entity and owns various items of plant and equipment used across the group’s operations. Certain assets utilised in KEE Surfacing’s road surfacing business are owned by Spiers and provided for its use under internal commercial arrangements. To facilitate the transaction, Spiers has entered into an agreement to sell the relevant assets to STRABAG Australia so that the assets required for the ongoing operation of the business transfer as part of the Acquisition.