• Focused on stabilizing balance sheet and managing working capital
• Executing asset realisation program, completing over $300 million in transactions
• Negotiating amended debt repayment covenants with Keyview facility

Elanor Investors Group (ASX: ENN) has provided a market update, outlining its key focus areas and recent developments. The Group remains focused on stabilizing its balance sheet and prudently managing the working capital requirements of the business, while working towards outcomes that are in the best interests of its fund investors, securityholders, and other stakeholders. The execution of the Group's cost management initiatives is resulting in sustainable reductions in corporate overheads, which is helping to support the Group's working capital and cashflow position. The Group, and certain of its managed funds, have recently exchanged contracts or completed on transactions totaling over $300 million in value, previously forecast to transact prior to 30 June 2025, but now expected to complete by July 2025. These divestments include the sale of the final asset held by the Elanor Property Income Fund, the sale of the Waverley Gardens shopping centre and the Bluewater Square shopping centre, and the sale of Elanor's wholly owned commercial office property in Cougal Street, Southport Queensland. The Group is also negotiating amended debt repayment covenants under its Keyview debt facility, as it is currently in breach of those covenants due to the sale of certain assets not having been completed in accordance with the forecast realisation program. The Elanor Board is continuing to refine and enhance the Group's Corporate Governance model and practices, including the establishment of a separate independent trustee and responsible entity board for the Group's managed funds. Elanor continues to work with its advisors to examine a range of options to maximise value for all securityholders, including engagement with over 15 interested parties and the evaluation of non-binding indicative offers (NBIOs) for a potential sale of the business or a recapitalisation of the balance sheet.