De.mem signed a new Build, Own, Operate Contract ("BOO Contract") in Singapore with a minimum value of approx. AUD 2.1 million of revenue payable to the Company over a fixed term of 6 years. Under the BOO Contract, De.mem will build, own and operate a waste water treatment system to be deployed
on-site at the customer's factory in Singapore. The new plant will incorporate De.mem's proprietary Ultrafiltration membrane as a key treatment step, combined with De.mem's specialty chemicals and other waste water treatment processes. The customer is Givaudan, the global leader in the creation of flavours and fragrances with sales of CHF 6.7 billion (AUD 10.0 billion) in 2021. Headquartered in Switzerland with local presence in over 185 locations, it has more than 16,800 employees worldwide. This is De.mem's fourth BOO Contract with Givaudan which demonstrates the Company's continued focus on land and expand opportunities and the cross-selling of its extended product range. The prior contract signed with Givaudan had a value of AUD 0.8 million in revenues over a period of 10 years.