24 Nov

Offsite Repair Services Contract - Amended announcement

ASX Release 24 November 2021 Offsite Repair Services Contract – Amended announcement The Board of Babylon Pump & Power Limited (“Babylon” or “Company”), (ASX: BPP), provides the below updates/amendments to its announcement titled “Babylon Secures Offsite Repair Services Contract” dated 15 November 2021: Key Points ? Babylon secures contract for Supply of Offsite Repair Services with Rio Tinto Services Ltd ? Initial term is for three (3) years with a two (2) year extension period ___________________________________________________________________________________ The Board of specialist resources services provider Babylon Pump & Power Limited (“Babylon” or “Company”), (ASX: BPP), is pleased to announce that its wholly owned subsidiary Babylon Operations Pty Ltd has secured a contract for the supply of offsite repair services with Rio Tinto Services Limited (“Rio Tinto”). The contract does not provide any commitment or guarantee of revenue, but the Board has deemed this contract to be material. In the 15 months preceding this contract, the Company had revenue of $450,000 with Rio Tinto. The contract is for the supply of offsite repair services for pumps and generators for multiple Rio Tinto sites. Some of the key terms of the contract are as follows: ? Three - year initial term, with an effective commencement date of 15 October 2021 ? Two - year extension period which must be agreed 60 days in advance ? No fault termination by Rio Tinto with 30 days’ notice ? Defects liability period of one year ? No consequential loss for either party to the contract ? Company is required to demonstrate its support of indigenous and local communities Babylon’s Board is grateful for the confidence Rio Tinto has placed in the Company and looks forward to continuing a strong and positive working relationship with Rio Tinto. For more information, please contact: Michael Shelby Executive Chairman +61 (0) 8 9454 6309 mshelby@babylonpumpandpower.com
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