• Mad Paws has received FIRB approval for Rover's acquisition of 100% of Mad Paws shares
• Scheme remains subject to other conditions as set out in the SID
• Mad Paws Board unanimously recommends shareholders vote in favor of the Scheme

Mad Paws Holdings Limited (ASX:MPA) (Mad Paws) has been advised by Rover Group, Inc. (Rover) that it has received written confirmation from the Foreign Investment Review Board (FIRB) that the Treasurer of the Commonwealth of Australia has no objections under the Foreign Acquisition and Takeovers Act 1975 (Cth) to Rover's acquisition of 100% of the shares on issue in Mad Paws by way of scheme of arrangement (Scheme), as announced on 22 July 2025. This satisfies the FIRB approval condition contained in clause 3.1(a) of the scheme implementation deed between Mad Paws and Rover dated 22 July 2025 in respect of the Scheme (SID). The Scheme remains subject to other conditions which are set out in full in clause 3.1 of the SID. The directors of Mad Paws comprising the Mad Paws Board (Mad Paws Board Members) continue to unanimously recommend that Mad Paws shareholders vote in favour of the Scheme, in the absence of a Superior Proposal and subject to the Independent Expert concluding (and continuing to conclude) that the Scheme is in the best interest of Mad Paws shareholders. Subject to those same qualifications, each Mad Paws Board Member intends to vote or cause to be voted all of their Director Mad Paws Shares (as that term is defined below) in favour of the Scheme. As at the Last Practicable Date, the Mad Paws Board Members collectively hold or control 27,516,513 Mad Paws Shares, representing approximately 6.69% of the Mad Paws Shares on issue (Director Mad Paws Shares).