Macmahon : CEO Resignation and Appointment

17 October 2016

Macmahon Holdings Ltd (ASX: MAH) wishes to advise that Mr Sybrandt van Dyk will be resigning from the Company in mid-November 2016. Mr van Dyk has decided to take up a position with an unlisted de-watering business in which he will acquire an equity stake.

Macmahon Chairman Jim Walker, said the Board of Directors had accepted Mr van Dyk's resignation and thanked him for his significant contribution to Macmahon since joining as Chief Financial Officer in 2014.

"During his time with Macmahon Sybrandt has been instrumental in steering the Company through a major transformation and we wish him all the best in his future endeavours," Mr Walker said.

Macmahon also advises that it will be promoting Mr Michael Finnegan, a professional mining engineer who is currently the Company's General Manager of Surface Mining, to the role of Chief Executive Officer. Mr Finnegan will formally assume this role after completing an orderly handover of responsibilities with Mr van Dyk.

Mr Finnegan has been with Macmahon since 2014 and has over 20 years' experience in the mining industry. Prior to joining Macmahon he held senior operational management positions with other major mining contracting companies, both in Australia and across Asia.

Mr Walker said it was pleasing the Company was able to promote an internal candidate to the role, adding that Mr Finnegan's strong operational and technical background would be valuable as Macmahon continued to drive operational efficiencies across its business.

"We look forward to working with Mick in his new role as he applies his considerable experience and knowledge across the Company," he said.

A new employment contract will be negotiated with Mr Finnegan. A further announcement will be made once this is complete.

Mr Finnegan holds a Bachelor of Science (Mining) from the Western Australian School of Mines. He has extensive experience in mining contracting both in bulk and precious commodities.

Before joining Macmahon Mr Finnegan held senior roles within the Leighton Group (now CIMIC) in its Asian mining business. In these roles he managed or supported projects in countries including Indonesia, The Philippines, Mongolia and Hong Kong.

For further information, please contact:

Christian Sealey General Manager - Investor Relations & Communications +61 497 828 300

Macmahon is an international contracting company offering the complete package of mining services to clients in Australasia and Africa.

Listed on the ASX and headquartered in Perth, the Company has extensive knowledge and experience in Surface and Underground Mining, Engineering and Fabrication, Construction and associated contracting services.

With an international footprint, Macmahon's reputation for outstanding teamwork, integrity and commitment to the environment is underpinned by the Company's core value - safety.

Visit www.macmahon.com.au for more information.