• Award of contracts valued at over $13 million for water infrastructure projects
• Secured $12.85 million contract with major engineering and construction contractor
• Expects to be awarded additional material contracts in the near term

Parkway Corporate Limited (ASX: PWN, FSE: 4IP) has announced several recent developments, including the award of multiple contracts to deliver water infrastructure-related scope and/or projects with an aggregate value of over $13.5 million. The company has secured a $12.85 million contract with a major (tier-1) engineering and construction contractor, which will see Parkway deliver structural, mechanical, and piping-related scope, from fabrication through to site installation, specialized services, and project management services to support the development of a high-profile wastewater treatment complex incorporating innovative resource recovery functions. The award of this contract follows a successful collaboration between Parkway and the engineering and construction contractor during prior stages of the project, as well as collaboration on other similar water infrastructure projects. Parkway has also secured several other contracts from a range of parties, including multiple project awards totaling $0.66 million from a regional urban water corporation. Based on ongoing engagement and encouraging feedback from several parties operating in the water sector, including engineering and construction companies and utilities, Parkway expects to be awarded additional material contracts in the near term. The company's Queensland Brine Solutions (QBS) business continues to build momentum, with progress in securing strategic project sites and advancing internal feasibility studies. Parkway has also successfully completed a technology evaluation project for a global mining company, recognizing $0.2 million in revenue during the current quarter. To ensure the company's Term Loan Facility continues to provide maximum financial flexibility, Parkway has negotiated minor amendments, including extending the drawdown period and increasing the size of the Acquisition Facility.

Parkway expects to recognize the majority (>85%) of revenue from the $12.85 million contract in FY26, with the remainder of revenue anticipated to be recognized in FY25 and FY27.

Parkway is increasingly confident in the continued growth of the company and its transition to sustained profitability, based on the contract awards disclosed and the expectation of additional contracts in the near term.