DURATEC LIMITED — Capital/Financing Update 2021

Nov 11, 2021

11 November 2021

DURATEC SECURES $50M ENERGY CONTRACT

Highlights

• Duratec adds to Energy Portfolio with a major fuel infrastructure contract

• Duratec to deliver the first stage of the Aviation Fuel reticulation network at the new Western Sydney International (Nancy-Bird Walton) Airport passenger terminal with a $50 million Contract.

• Project award leverages the skills, experience and capabilities developed from works undertaken in previous Defence Energy infrastructure projects

• Contracted through Multiplex, the project represents a portion of the Australian Government-funded Western Sydney International development.

• Total Duratec orderbook hits $315 million, tendered works of $650 million within an overall $1.9 billion pipeline of tangible opportunities

• Project award supports expectation of strong revenue growth in second half FY22 and ongoing in FY23

Australian engineering, construction, and remediation contractor Duratec Limited ( Duratec or the Company ) (ASX: DUR), is pleased to announce that it has been awarded a $50 million Aircraft Fuel Hydrant Main construction contract. This project is the first stage and an integral part of the airport fuel infrastructure at the new Western Sydney International Airport development for Multiplex Construction Pty Ltd. It will provide initial fuel reticulation infrastructure with further opportunities in line with the expected future growth in fuel infrastructure requirements of the airport. This project involves the provision of fuel infrastructure between the aviation fuel farm boundary and the phase 1 terminal apron. Procurement will proceed immediately, with works on site due to commence in 2022.

Duratec Managing Director Phil Harcourt said Duratec has strategically focused on Australian fuel infrastructure upgrade opportunities following the establishment of its Energy Division in 2018. This team has a proven track record having successfully handed over and obtained acceptance of the assets on 18+ fuel infrastructure projects nationally, including in remote locations. “This major award is testimony to the reputation this team has earned via an excellent understanding of the brief both technically and operationally.”

The Western Sydney International project award represents a careful expansion into fuel transformation projects and Energy infrastructure, leveraging the considerable experience Duratec has gained in the Defence sector with regards to Energy and Fuel projects. Duratec will utilise inhouse skills and partner with key suppliers on aspects of this project. This project aligns with the strategic objectives of sustainably growing and developing the business through specialised service offerings to a range of sectors.”

“We are excited by this opportunity and look forward to demonstrating our ability to deliver more high-profile projects in line with client agreed milestones. In addition, we remain confident of ongoing growth in our other key sectors, including: Defence, Mining & Industrial, Buildings & Facades, Ports and Transport. There are currently $650 million of tendered works across the group within the $1.9 billion pipeline of opportunities in our sights,” Mr Harcourt said.

Authorised for release to ASX by the Board of Duratec Limited.

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Media Contact Investor Contact Duratec Limited Duratec Limited Paul Gold Dennis Wilkins +61 413 949 909 +61 417 945 049

About Duratec Limited

Duratec Limited (ASX: DUR) is a leading Australian contractor providing assessment, protection, remediation, and refurbishment services to a broad range of assets and infrastructure. The Company’s multi-disciplined capabilities combine engineering experience with project delivery expertise and use a range of in-house assessment technologies, including 3D capture and modelling technology with predictive analysis tools. Headquartered in Wangara, Western Australia, Duratec has fifteen branches around the country in capital cities and regional centres, delivering services across multiple sectors including Defence, Commercial Buildings & Facades, Infrastructure (Water, Transport & Marine), Mining & Industrial, Power and Energy.

Please visit www.duratec.com.au for further information.

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