Devine : Appointment of CEO & Executive Director

ASX ANNOUNCEMENT

22 May 2018

APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR

Devine Limited today announced the appointment of John Campbell as Chief Executive Officer and Executive Director effective 9 July 2018.

Mr Campbell has held senior executive roles within CIMIC Group's Leighton Properties, most recently responsible for delivering the company's residential and mixed-use development projects in Queensland.

Mr Campbell succeeds Andrew Cooper, who will leave Devine in July to work with CIMIC Group.

Devine Chairman David Robinson said: "With more than 27 years' experience in the construction and development sectors, including leading large scale residential and mixed-use developments, John has the right expertise to lead Devine during our next phase.

"I would like to express my thanks to Andrew for his contribution to Devine during recent years. Under his leadership, Devine succeeded in reducing debt and its cost base, securing longer-term funding, completing the wind-down of non-performing businesses and finalising a number of contractual claims.

"This is a natural transition, and I am confident in John's ability to guide the business in coming years."

Mr Campbell joins Devine from today and will transition into the role of Chief Executive Officer and Executive Director on 9 July, following a handover period. Mr Cooper will depart Devine in early July and will continue to be available to the business, as required, during July and August.

Mr Campbell's biography and a summary of the key terms of his employment are provided in the appendix.

ENDS

Contact:

James Mackay

CFO and Company Secretary Devine Limited

[phone]

ASX ANNOUNCEMENT

APPENDIX

John Campbell B.AppSc (QS)

John Campbell is Chief Executive Officer-designate of Devine.

Mr Campbell has more than 27 years' experience in property development and construction, including development of resort, residential and mixed use projects in Queensland, New South Wales and Victoria, and residential and mixed use development projects in Asia.

Mr Campbell was previously a Project Director at CIMIC Group's Leighton Properties, responsible for delivering the company's residential and mixed use projects in Queensland.

He holds a Bachelor of Applied Science (Quantity Surveying) from Queensland University of Technology.

Summary of terms of employment of CEO-designate

Total fixed remuneration

$405,000 annually, inclusive of superannuation

Incentive arrangements

Eligible to receive an annual discretionary bonus.

General

Either party may terminate the employee's employment by giving the other party three months' notice.

Employment is terminable without notice in certain circumstances including in the event of the employee's serious misconduct or a material breach.

Mr Campbell will be subject to post-employment restraints on competing and solicitation of customers and staff.

The employment arrangements with Mr Campbell are subject to compliance with all applicable laws; including the Corporations Act and ASX Listing Rules.