SOUTHERN CROSS ELECTRICAL ENGINEERING LTD — M&A Activity 2024

ASX ANNOUNCEMENT & MEDIA RELEASE

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3 June 2024

Completion of MDE Group acquisition

• Acquisition of MDE Group, a Sydney-based electrical and communications specialist, now completed

• Strategic expansion of SCEE’s east coast service offerings

Completion of acquisition

Southern Cross Electrical Engineering Limited (“SCEE Group”) is pleased to announce that further to its ASX announcement of 13 May 2024 it has now completed the acquisition of MDE Group Pty Ltd (“MDE”), effective 31 May 2024.

Founded in 2006 and based in Sydney, MDE provides communications, data, and electrical services for construction and fit out projects across a range of sectors including commercial building developments, data centres, and healthcare and transport infrastructure.

The acquisition of an east coast communications specialist aligns with SCEE Group’s strategy to broaden our geographic diversity through expanding our core competencies and adding adjacent and complementary capabilities.

The initial consideration of $5.55m has been paid to the vendors.

Comment

Commenting on the above, SCEE Group Managing Director Graeme Dunn said “I am pleased to confirm the completion of the acquisition of MDE. In addition to broadening our east coast service offerings, the acquisition of MDE increases SCEE Group’s exposure to ongoing work at the Western Sydney International Airport and allows us to target and deliver a greater proportion of our significant pipeline of data centre opportunities.

Our successful acquisitions have been a key component of our growth over recent years and we continue to actively explore a range of further acquisition targets offering increased geographic diversification and new capabilities.”

Authorised for release by Graeme Dunn – SCEE Group Managing Director

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Southern Cross Electrical Engineering Limited ABN 92 009 307 046 ASX: SXE

www.scee.com.au

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Contact:

SCEE Group Head Office Level 15, 225 St Georges Terrace Perth WA 6000 T: +61 8 9236 8300

Jonas Fitzgerald Investor Relations, Lancaster Grove Capital E: [email protected] T: +61 427 104 488

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