BABYLON PUMP & POWER LIMITED — Capital/Financing Update 2021

Nov 30, 2021

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ASX Release

1 December 2021

Babylon Secures New Three-Year Agreement with Premier Coal

Key Points

• Babylon secures new framework agreement with Premier Coal Limited

• Agreement is for three-year term (plus possible one-year extension) commencing 3 January 2022

• Anticipated schedule includes 44 engines

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The Board of specialist resources services provider Babylon Pump & Power Limited (“Babylon”), (ASX: BPP), is pleased to announce that it has secured an agreement for supply of goods and services with Premier Coal Limited (“Premier”).

The agreement is for overhaul of Premier engines, supply of service exchange engines and labour to support as required. Based on quotations supplied and anticipated schedule provided, Babylon estimates the total revenue over the three-year term plus possible one-year extension to be c$16M.

Some key terms of the agreement are:

• The agreement is structured as a framework supply agreement and does not constitute a binding minimum commitment by Premier

• Three-year initial term, with a commencement date of 3 January 2022

• One-year extension by written notice by Premier

• No fault termination by Premier with 30 days’ notice

• Anticipated schedule included in the agreement specifies 44 engines over three-year term plus possible one-year extension

The Board of Babylon is excited by this significant opportunity granted by Premier and looks forward to delivering on the agreement over the term.

For more information, please contact:

Media

Michael Shelby David Tasker Executive Chairman Chapter One Advisors +61 (0) 8 9454 6309 +61 (0) 433 112 936 mshelby@babylonpumpandpower.com dtasker@chaperoneadvisors.com.au

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