CEMATRIX Corporation announced that it has signed $6.5 million in new contracts since the last announcement, bringing its total contracts announced since the end of the fiscal 2022 year to $44.8 million and $81.4 million since August 3, 2022. Over $40 million of the current backlog is contracted and is scheduled for 2023, a 38% increase compared to total sales of $29 million for the fiscal 2022 year. A number of these contracts have already been placed in 2023 and/or are underway.

The Corporation's backlog, which is net of sales to the end of September, is $93.7 million, which is a 17.7% increase compared to the sales adjusted backlog of $79.6 million as of December 31, 2022. The Corporation's backlog is comprised of contracts in the amount of $46.8 million and Contracts in Process in the amount of $46.9 million. The change in backlog from previous dated August 30, 2023 is reflective of the significant amount of the backlog that was placed in the third quarter of this year.

The $6.5 million increase in contracts includes new infrastructure projects across North America, two of which exceed $1 million. Both projects were previously included in the backlog as Contracts in Process. One of the new projects contracted is for a $1.6 million pipe bedding project in the northern Midwest and the other is for a $1.8 million hospital foundation backfill project in the prairies.

The Company's sales pipeline is defined as the estimated value of projects that the Company has been approached on for a design or quote or both and/or from the quotes that have been requested as part of an infrastructure construction tender document listed on one of the construction project databases like Construct Connect. The Corporation's Backlog is defined as Contracted plus Contracts in Process net of sales completed to date. Contracts in Process are defined as projects where the related contract is in office for review or signature; or signed and returned to the client for their signature; or is in the post award project submission process; or is awarded by letter of intent; or is awarded by some other form of written communication.