• Aquirian's subsidiary TBS Mining Solutions executes contract with Papyrus for biodegradable Collar Keeper products
• Contract valued at ~$4.2 million over initial 3-year term
• Biodegradable Collar Keeper aligns with Aquirian's Bootless Bench vision for sustainable mining practices

Aquirian Limited (ASX: AQN) has announced that its 100% owned subsidiary TBS Mining Solutions Pty Ltd has executed a contract with Papyrus Australia Limited (ASX: PPY) for the manufacture and supply of Biodegradable Collar Keeper products. This agreement supersedes the previously announced binding term sheet. The Biodegradable Collar Keeper is a next-generation product that aligns with Aquirian's Bootless Bench vision, designed to improve blast preparation efficiency, reduce on-bench labour, enhance safety, and lower operating costs for customers. Its biodegradable nature eliminates the need for post-blast retrieval, reducing plastic waste and supporting more sustainable mining practices. The contract is valued at approximately $4.2 million over the initial 3-year term, with an option to extend for a further 3 years. Supply is anticipated to commence in late Q4 FY26, subject to trial product delivery from Papyrus and acceptance from TBS. 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.