Primech (PMEC) Secures Major New Contracts

Primech Holdings Limited (Nasdaq: PMEC) ("Primech" or the "Company"), an established technology-driven facility services provider in the public and private sectors operating mainly in Singapore, is excited to announce several newly signed contracts, signaling robust growth and expanding opportunities across multiple sectors. With a total value exceeding SG$5.6 million (US$4.3 million), these new agreements underscore Primech’s ongoing commitment to delivering exceptional facility services that consistently exceed each client's and sector's unique demands.

The latest contract wins include:

• Secured a 5-year contract valued at SG$4.59 million (US$3.54 million) for cleaning and pest control services at a major biomedical research hub, one of Singapore’s leading research facilities. Effective from June 2024 to May 2029, this agreement strengthens Primech’s foothold in the scientific and research sector.
• Secured a 2-year contract effective October 2024 worth SG$542,400 (US$419,160) for cleaning services with a private residential condominium development consisting of several high-rise blocks with modern facilities. This collaboration reinforces Primech's strong presence in the residential sector and showcases its continued growth in servicing premium residential communities.
• Secured a 1-year contract with a residential condominium development located in the Bukit Timah area of Singapore, an upscale and well-known residential district, to provide cleaning services valued at SG$216,840 (US$167,571), commencing in September 2024. This contract adds to Primech’s already expansive portfolio of high-end residential properties.
• Secured a 2-year contract in July 2024 valued at SG$30,000 (US$23,184) for providing cleaning services to an important non-profit social service institution that supports vulnerable individuals and families, further strengthening Primech’s role in the welfare sector.

Mr. Kin Wai Ho, Chief Executive Officer of Primech, commented, “These new contracts mark an exciting chapter for Primech, reinforcing our role as a pivotal provider of facility services. Our tailored approach ensures that we meet the precise needs of each sector, from cutting-edge research facilities to upscale residential developments. As we integrate more AI and advanced technological solutions into our operations, our foundational services continue to drive our growth, demonstrating our adaptability and commitment to excellence. These wins reflect our clients' trust in our capabilities and position us strongly for future expansion and success.”

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