Three Contract Awards Support Recurring Service Revenue and Extend Contracted Service Coverage into 2029

Key Facts At-a-Glance

Who: Maint-Kleen Pte. Ltd. and Primech A & P Pte. Ltd., subsidiaries of Primech Holdings Limited (Nasdaq: PMEC).

What: Secured three cleaning services contracts covering industrial properties and two residential developments.

When: Contract coverage spans 2026 to 2029, with individual engagements lasting between one year and approximately three years.

Where: Industrial and residential properties in Singapore.

How Much: Approximately US$1.67 million in combined estimated contract value across the full contractual terms.

Why It Matters: The awards support Primech’s recurring facilities services revenue across two property sectors, with staggered contract terms providing a foundation for ongoing service delivery and customer engagement.

SINGAPORE, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Primech Holdings Limited (Nasdaq: PMEC) (“Primech” or the “Company”), a Singapore-headquartered technology-driven facilities services and AI robotics group, today announced three cleaning services contract awards secured by its subsidiaries, Maint-Kleen Pte. Ltd. (“Maint-Kleen”) and Primech A & P Pte. Ltd. (“Primech A & P”), with a combined estimated value of approximately US$1.67 million across industrial and residential properties in Singapore. The Company views the awards as adding to the contracted revenue base that supports long-term shareholder value.

The contracts cover engagements spanning 2026 to 2029, supporting recurring service revenue and contributing to the Group’s industrial and residential facilities services portfolio.

The combined estimated value represents the total value across the full contractual terms. Revenue is recognised as the relevant services are delivered.

Contract Scope and Coverage

The three engagements comprise:

  • Industrial properties: Maint-Kleen secured a cleaning services contract covering multiple industrial properties, with an estimated value of approximately US$934,000, running from 2026 to 2029.
  • Residential development: Primech A & P secured a two-year cleaning services contract with an estimated value of approximately US$559,000, running from 2026 to 2028.
  • Residential development: Primech A & P secured a one-year cleaning services contract with an estimated value of approximately US$181,000, running from 2026 to 2027.

Together, these engagements support cleaning services delivery across properties with different operating requirements and contract durations.

Supporting Recurring Revenue Across Industrial and Residential Properties

The awards support Primech’s facilities services business through contracted cleaning engagements across two established property sectors.

Industrial properties require cleaning services that support day-to-day site operations, while residential developments depend on regular upkeep of shared environments. Serving both sectors allows the Group to apply its workforce coordination, site supervision and cleaning operations capabilities across different customer requirements.

The staggered contract terms support service planning and customer engagement into 2029. Actual revenue contributions will depend on service delivery and the applicable contractual terms.

Advancing Primech’s Facilities Services Strategy

Primech continues to pursue facilities services engagements that build on the operating capabilities of its subsidiaries. The awards demonstrate the contribution of both Maint-Kleen and Primech A & P to the Group’s contract portfolio. The awards follow the US$5.78 million three-year integrated facility services contract announced on September 17, 2026.

The Group’s established facilities services operations remain a central part of its business as it also develops its AI robotics activities. Facilities services accounted for 82.0% of Group revenue in the fiscal year ended March 31, 2026, as reported in the Company’s Annual Report on Form 20-F filed on July 29, 2026. Management’s focus is on translating contracted work into consistent service delivery, maintaining customer relationships and pursuing further commercial opportunities.

Management Commentary

“These three awards represent approximately US$1.67 million in estimated contract value across our industrial and residential facilities services portfolio, with service commitments extending into 2029,” said Ken Ho, Chairman and Chief Executive Officer of Primech Holdings Limited. “They reflect the contribution of both Maint-Kleen and Primech A & P in securing business across these sectors in Singapore.”

“Our priority is to execute these engagements effectively, maintain service standards and build lasting customer relationships. We remain focused on strengthening our facilities services business while developing complementary robotics opportunities to support long-term shareholder value.”

Currency Translation

US-dollar equivalents in this announcement are approximate and have been translated at US$1 = S$1.2776, using the Federal Reserve Board’s H.10 exchange rate for October 30, 2026. The contracts are denominated in Singapore dollars. Figures have been rounded for presentation purposes.

About Primech Holdings Limited

Primech Holdings Limited (Nasdaq: PMEC) is a Singapore-headquartered technology-driven facilities services and AI robotics group with operations in Singapore and Hong Kong. Through its subsidiaries, the Group provides cleaning, facilities maintenance, stewarding, waste management and pest control services to public and private sector clients.

Through its subsidiary Primech AI, the Group develops HYTRON, an autonomous restroom-cleaning robot that combines AI perception with robotic manipulation. The Group also operates HomeHelpy, a consumer home-services booking platform.

Primech Holdings was incorporated in 2020 and listed on the Nasdaq Capital Market in October 2023. For more information, visit investor.primechholdings.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including statements regarding the performance and fulfilment of cleaning services contracts, estimated contract values, the timing and amount of revenue recognition, recurring service revenue, continued customer relationships, future commercial opportunities, and future business strategies, growth and expansion. These statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations, projections and assumptions.

Forward-looking statements may be identified by words such as “may,” “will,” “expect,” “anticipate,” “aim,” “intend,” “plan,” “believe,” “potential” and similar expressions. Actual results may differ materially from those expressed or implied. Investors should review the risks and uncertainties described in the Company’s filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update or revise these statements except as required by law.

Investor Relations

Primech Holdings Limited

ir@primechholdings.com

www.primechholdings.com