• Topco secures additional $220m in equity funding
• Funding fully underwritten, no need for additional shares
• Proceeds to cover debt, liabilities, and transaction costs

Washington H. Soul Pattinson and Company Limited ('Soul Patts') and Brickworks Limited ('Brickworks') announced a proposed merger to create Topco, a new ASX listed company, on 2 June 2025. Topco has now secured additional commitments of $220m at no discount to Soul Patts' last closing price of $42.61. This placement is fully underwritten by Aitken Mount Capital Partners and is conditional only on implementation of the schemes to acquire Soul Patts and Brickworks. The capital raise announced as part of the proposed merger on 2 June 2025 has been accelerated in response to strong investor demand and is now complete. When combined with the conditional placements announced on 2 June 2025 and 1 July 2025, Topco is now fully funded, having received commitments for 34m shares with total proceeds of approximately $1.4b. There is no need for additional shares to be issued. Proceeds will be used to cover a significant portion of Brickworks' outstanding debt, address other liabilities (including the Soul Patts convertible bond), and fund transaction costs (including stamp duty). This represents a key milestone in the merger process, providing shareholders with certainty that all equity funding has been secured ahead of the scheme votes.

Topco is now fully funded, having received commitments for 34m shares with total proceeds of approximately $1.4b. Proceeds will be used to cover a significant portion of Brickworks' outstanding debt, address other liabilities, and fund transaction costs.