DURATEC LIMITED — Capital/Financing Update 2022

Dec 19, 2022

20 December 2022

DURATEC SECURES $48M WHARF REMEDIATION CONTRACT

Highlights

• Duratec secures major contract with BHP WA Iron Ore ( BHP WAIO ).

• The project works will be undertaken at the BHP WAIO Port Facilities Berth C & D at Finucane Island.

• Project awarded follows a successful competitive tender (following early engineering input by Duratec’s technical engineering team).

• Work will commence immediately, with a start on site scheduled for March 2023.

• Projects anticipated completion is February 2025.

• Project award supports Duratec’s strong orderbook.

• Duratec orderbook of $420 million and tendered works of $664 million within an overall $1.96 billion pipeline of tangible opportunities.

Australian engineering, construction, and remediation contractor Duratec Limited ( Duratec or the Company ) (ASX: DUR) is pleased to announce it has been awarded a $48 million contract with BHP WA Iron Ore ( BHP ) for wharf structural remediation works at the BHP Berth C & D at Finucane Island, Port Hedland, Western Australia.

The projects key objectives on the wharf include:

• Repair to steel piles and steel members

• Replacement of steel ladders

• Concrete remediation

• Pile wrapping repairs

• Pile jacket installation

• Fabrication and installation of a new raw water line and hose connection points

• Approach jetty and maintenance jetty repair (Berth D)

• Demolition of two access landings (Berth C and between Berth C&D)

Work on the project starts immediately, and a commencement on site is scheduled for March 2023. The project is anticipated to be completed by February 2025.

Duratec’s Managing Director Phil Harcourt said: “This contract award represents another key milestone in Duratec’s business strategy. Duratec continues to demonstrate its ability to secure work through its early contractor involvement engagement model by working with its clients early in partnership to deliver project solutions that are beneficial to all parties. Duratec has a long history in delivering large asset remediation projects nationwide, supported by Duratec’s in-house technical engineering expertise. The Company remains the contractor of choice with a strong client base.”

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

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	Investor/Media RelationsNWR CommunicationsSimon Hinsleysimon@nwrcommunications.com.au+61 401 809 653		Company SecretaryDuratec LimitedDennis Wilkins+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.

This release contains certain forward-looking statements and forecasts, including in relation to possible or assumed future performance, costs, dividends, rates, prices, revenue, potential growth of Duratec Limited, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Duratec Limited. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements, depending on a variety of factors.

Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information, the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

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