• Noteholders approve special resolution to stabilize balance sheet
• Revised note terms include increased coupon, simplified covenants, and extended maturity
• Group actively engaging with Keyview on asset realisation delays and debt repayment

Elanor Investors Group (ASX: ENN) has provided an update on its balance sheet stabilisation strategy. The group is pleased to advise that a Special Resolution of the Noteholders of Elanor's $40 million Corporate Notes has been passed, with eligible Noteholders representing over 90% of the outstanding principal voting in favour. This is a key milestone for the group in executing its strategy to stabilise the balance sheet. The Special Resolution approved by Noteholders included a waiver of covenant breaches and revised Note terms that increase the coupon to a fixed rate of 15% p.a., grant security for the Notes, simplify the financial covenants, provide more flexibility for early redemption, and extend the maturity of the $25 million Fixed Rate Notes to 30 April 2026. The group remains focused on stabilising the balance sheet and closely managing the working capital requirements as the asset realisation program is progressed. The group is actively engaging with Keyview in respect of delays to the forecast asset realisation timetable and related impacts to debt repayment covenants, though there is no certainty that Keyview will continue to support the group's de-leveraging initiatives. The group's financial statements are expected to include an emphasis of matter or qualification in respect of risks to the group's ability to continue as a going concern if it is not able to execute on its stated asset realisation and balance sheet stabilisation plans.