ACROW LIMITED — Capital/Financing Update 2024

Dec 8, 2024

ASX Announcement

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9 December 2024

ACROW AWARDED $42 MILLION INDUSTRIAL ACCESS CONTRACT ON PERDAMAN’S PROJECT CERES UREA PLANT DEVELOPMENT, WESTERN AUSTRALIA

Key Highlights

• Acrow’s second largest industrial access contract win to-date, behind Snowy Hydro

• Supply and management of scaffolding equipment and labour hire over projected duration of 2.5 years, commencing December 24

• Of significant strategic importance as provides a beachhead into Australia’s largest industrial access market

Acrow Limited (ASX: ACF) (“Acrow” or “the Company”) is pleased to announce that its Industrial Access division has been awarded a major contract by the Saipem Clough Joint Venture for the Project Ceres Urea Plant development, located within the Burrup Strategic Industrial Area, Burrup Peninsula, approximately 10 km from Dampier and 20 km north-west of Karratha on the Northwest coastline of Western Australia in Karratha, Western Australia.

The Project Ceres Urea Plant is set to become Australia’s largest gas stream ammonia-urea plant and one of the largest urea plants globally, expected to be completed mid-2027.

The contract is valued at approximately $42 million, commencing December 24, with a projected duration of 2.5 years. Acrow’s scope of work includes the supply and management of approximately 3,800 tonnes of scaffolding equipment, as well as the provision of on-site blue-collar and white-collar labour.

This landmark contract reinforces Acrow’s capability of delivering large-scale industrial access solutions across Australia.

Commenting on the contract, Acrow Limited CEO, Steven Boland said: “We are delighted to play a role in this landmark project and to have secured one of the most pivotal contracts in Acrow’s history. This agreement not only represents a substantial opportunity for revenue and profit growth but also lays a robust foundation for our expansion into what is arguably the country’s largest industrial access market. It also highlights Acrow’s increasing recognition as a leader in industrial access solutions. I would like to congratulate our staff responsible for securing this contract. There are moments in a company’s history that are game changers and this is one of those moments for Acrow.”

The Company looks forward to supporting the successful delivery of this critical infrastructure project and will provide further updates as the project progresses.

This release was approved by the Acrow Board of Directors.

-ENDS-

About Acrow

Acrow Limited (ASX: ACF) is a leading provider of smart integrated construction systems across formwork, industrial access and commercial scaffolding in Australia. Enhancing our portfolio are falsework and shoring, screen solutions, Jacking Systems (also known as Jumpform), and internal engineering capabilities.

With over 80 years of experience, Acrow has grown from a small local business to a national leader in the construction industry. Our journey is marked by continuous innovation, expansion, and a vision to

Acrow Limited. 2A Mavis Street, Revesby NSW 2212

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ASX Announcement

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set the national standard in engineered industrial and construction services. We’re committed to removing barriers to success for construction and industrial professionals through our smart solutions, can do attitude, and strong partnerships.

Operating in 15 locations with over 60,000 tonnes of equipment, Acrow aims to expand its presence in Australia’s civil infrastructure market. Our national network with local expertise ensures efficient project delivery while adhering to best practices. To learn more, please visit: www.acrow.com.au

For further information, please contact:

Steven Boland Managing Director Ph: +61 (02) 9780 6500

Andrew Crowther Chief Financial Officer Ph: +61 (02) 9780 6500

Acrow Limited. 2A Mavis Street, Revesby NSW 2212

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