• Binding term sheet executed for manufacture and supply of biodegradable Collar Keeper products
• Supports Aquirian's Bootless Bench vision to improve blast preparation efficiency and sustainability
• Manufacturing to take place at Papyrus' commercial production facility in Adelaide, Australia

Aquirian Ltd (ASX: AQN) has announced that its 100% owned subsidiary TBS Mining Solutions Pty Ltd has entered into a binding term sheet with Papyrus Australia Limited (ASX: PPY) for the manufacture and supply of Biodegradable Collar Keeper products. This next-generation Collar Keeper is a key step in advancing Aquirian's Bootless Bench vision, designed to improve blast preparation efficiency, reduce on-bench labour, enhance safety, and lower operating costs for customers. The biodegradable nature of the product eliminates the need for post-blast retrieval, removing plastic waste and supporting more sustainable mining practices. The term sheet has a value of approximately $4.2 million, with a 3-year agreement term and an option to extend for a further 3 years. Manufacturing will take place in Adelaide, Australia, at Papyrus's commercial production facility, which is expected to be commissioned in Q4 FY26. Aquirian's Managing Director, Greg Patching, commented that this is an exciting step forward in the company's commitment to sustainable innovation, providing a greener, smarter alternative for the industry. The Collar Keeper is central to blasthole stabilisation, and this biodegradable variant advances Aquirian's Bootless Bench vision, reducing environmental impact and setting a new benchmark for responsible blasthole quality management.