• Proposed acquisition of Mad Paws by Rover Group, Inc. via scheme of arrangement
• Scheme Booklet dispatched to Mad Paws shareholders
• Independent expert concludes Scheme is fair and reasonable

Mad Paws Holdings Limited (ASX:MPA) has announced the dispatch of the Scheme Booklet to shareholders, providing information about the proposed acquisition of 100% of the issued share capital of Mad Paws by Rover Group, Inc. (Rover) by way of a scheme of arrangement (Scheme). The Scheme Booklet includes a copy of the independent expert's report, which has concluded that the Scheme is fair and reasonable and in the best interest of Mad Paws shareholders. The directors of Mad Paws continue to unanimously recommend that shareholders vote in favor of the Scheme, in the absence of a Superior Proposal and subject to the Independent Expert continuing to conclude that the Scheme is in the best interests of Mad Paws shareholders. The Scheme Meeting, at which Mad Paws shareholders will vote on the proposed Scheme, will be held on Friday, 24 October 2025 at 10:30am (Sydney time), with the option to participate online. All registered Mad Paws shareholders at 7:00pm (Sydney time) on Wednesday, 22 October 2025 will be eligible to vote at the Scheme Meeting.