MACMAHON HOLDINGS LIMITED — Capital/Financing Update 2011

May 3, 2011

4 May 2011

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Macmahon awarded $100 million in Underground contracts

Macmahon Holdings Limited (ASX: MAH) announced today that it has been awarded a number of Underground mining contracts to a total value of $100 million.

The contracted works consist of:

• a one year extension to Macmahon’s current operations for BHP Billiton at Olympic Dam in South Australia to deliver mine development, cablebolting and shotcreting services;

• mine development works at Newcrest’s Cadia Valley Operations in New South Wales; and

• the development of two new mine shafts at Xstrata’s George Fisher Mine in Queensland.

Macmahon Chief Executive Officer, Nick Bowen, said the contract wins demonstrate the Company’s continued success in securing new work across all aspects of its Underground business.

“These agreements not only extend Macmahon’s operations for key clients, but emphasise the strength and reliability of the services we deliver,” Mr Bowen said.

“Utilising our specialist skills either individually or as a complete service offering, Macmahon has the proven expertise to continue to deliver on all our projects. Our clients are able to benefit from the complete suite of underground mining services we provide, all delivered with an industry leading safety performance,” he said.

Since the start of the 2011 financial year, the growth of Macmahon’s underground operations has led to an increase in its workforce from 650 to 1200, which reflects the expected doubling of revenue for this part of the business from the previous year.

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For further information, please contact:

Investor Relations Craig Dettman General Manager Corporate Finance +61 409 371 400 Media Relations Stuart McLagan Group Communications Manager +61 458 755 117

About Macmahon

Macmahon is a leading Australian contract mining and construction company with major projects throughout Australia, in New Zealand, Asia and Africa.

An ASX/S&P 200 company, Macmahon has played a major role in the delivery of many of Australia’s largest multi-disciplinary mining and construction projects throughout its 47 year history.

Employing more than 3000 people, Macmahon offers the full range of underground and surface mining services and comprehensive construction capabilities spanning transport, marine, water and resource infrastructure services.

With a commitment to providing end to end services, Macmahon’s reputation for outstanding teamwork, integrity and commitment to the environment is underpinned by the company’s core value - safety.

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