• Worley to undertake on-market share buy-back of up to $500 million
• Buy-back reflects Board's confidence in company's financial position and growth outlook
• Buy-back forms part of Worley's broader capital management strategy

Worley Limited (ASX: WOR) has announced its intention to undertake an on-market share buy-back of up to $500 million, subject to market conditions. This initiative reflects the Board's confidence in the company's financial position and growth outlook. Supported by a strong balance sheet position, the buy-back forms one component of Worley's broader capital management strategy to enhance shareholder value, which includes growth investments and supplements the existing dividend policy. Chief Executive Officer and Managing Director Chris Ashton commented that Worley will continue to invest in strategic initiatives to drive organic growth and operational efficiency, and will consider disciplined investment in new opportunities aligned with the company's growth strategy. This capital management strategy is consistent with supporting continued growth while maximizing shareholder returns. The share buy-back will commence in March 2025, and the timing and value of shares purchased will be dependent on prevailing market conditions, share price, and other factors. Worley has been advised by UBS and Barrenjoey.

Worley will continue to invest in strategic initiatives to drive organic growth and operational efficiency, and will consider disciplined investment in new opportunities aligned with the company's growth strategy.