DURATEC LIMITED — Capital/Financing Update 2024

Sep 9, 2024

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10 September 2024

SIGNIFICANT CONTRACT AWARDS SECURED

Highlights

• Duratec secures $21.8m Energy sector project for the King Bay Supply Base (KBSB) Wharf Refurbishment, its first direct contract with Woodside Energy Ltd (Woodside)

• DDR secures $54.7m contract forming part of the Project Phoenix portfolio of work for Department of Defence (Defence) in the Northern Territory (NT)

Duratec Limited (ASX: DUR ) and DDR Australia ( DDR ), Duratec’s 49% owned associate business, have been awarded two new significant contracts across the Energy and Defence sectors. Duratec has secured the KBSB Wharf Refurbishment Project on behalf of Woodside, while DDR has been awarded a contract with Defence to deliver a critical portfolio of work across the NT as part of the Project Phoenix portfolio of work.

• KBSB Wharf Refurbishment – Located within the Port of Dampier in Western Australia, the KBSB Project is a $21.8 million Onshore Services Contract with Woodside, that aims to extend the service life, maintain the operational efficiency, and enhance the safety and resilience of the existing wharf facility. Pre-work is anticipated to start in November 2024, with commencement on site scheduled for February 2025, and expected completion by end of 2025.

• DDR Defence Contract Award – At an overall contract value of $54.7 million, this is the largest contract awarded to DDR to date. The project’s key objectives within the portfolio of work includes, refurbishment of existing buildings, upgrade of engineering services at transmit and receive sites, construction of a new receive site, installation of new fibre optic link cables connecting transmit and receive sites, and decommissioning of high-frequency communications infrastructure. Early civil works are targeted to commence in October 2024. The combined duration of the current works is anticipated to be 30 months. This opportunity will be delivered with regional delivery partners ensuring that local businesses benefit from the contracted works.

Duratec Managing Director, Chris Oates, commented:

“We are delighted to be working directly with Woodside as we execute Duratec’s wider business strategy to pursue diversification through investment in the Energy sector. The DDR award demonstrates that the Company continues to be a trusted Defence partner, and we look forward to supporting DDR in delivering this significant project. These are exciting steps forward for both Duratec and DDR.”

Authorised for release to the ASX by Chris Oates, Managing Director.

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Duratec Limited ABN 94 141 614 075 ASX code: DUR

108 Motivation Drive, Wangara WA 6065 08 6206 6900 investor.relations@duratec.com.au duratec.com.au

Contact

Ollie McKeon

Executive Manager – Corporate, Strategy & Investor Relations Duratec Limited Investor.relations@duratec.com.au

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 19 locations 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.