• Company unable to reach agreement with ACCC at court-ordered mediation
• ACCC proposed penalties significantly higher than previous estimates
• Adverse outcome will have material negative impact on financial performance

Site Group International Ltd (ASX:SIT) has advised that the company was not able to reach an agreement with the Australian Competition and Consumer Commission (ACCC) at the court-ordered mediation. As highlighted in the company's request for voluntary suspension on 26 February 2025, Site was hoping to gain clarity in advance of the hearing in relation to the size of penalties it will likely need to pay. The ACCC's submission proposed penalties that are over 10 times higher than the $1.1 million previously provided for in the company's accounts. The mediation was concluded with the company making an offer to the ACCC for them to consider in line with the provisions made by the company. An adverse outcome with penalties in the range of the ACCC's submissions will have a material negative impact on the company's financial performance and position. Due to the inherent uncertainty around the penalty and resulting cash outflow, the directors are unlikely to be able to finalise and sign the half-year accounts on Friday, which will result in the ASX suspension of trading until this is resolved. The company is continuing to critically evaluate the situation and impact for the group and will advise the market accordingly.