• Proposed acquisition of Mad Paws by Rover Group, Inc. for $0.14 per share
• Scheme Meeting to be held today, 24 October 2025
• Key conditions precedent largely satisfied, including FIRB approval and completion of E-Commerce Transactions
• Mad Paws Board unanimously recommends shareholders vote in favour of the Scheme

Mad Paws Holdings Limited (ASX:MPA) has convened a Scheme Meeting of shareholders to vote on the proposed acquisition of 100% of the issued share capital of Mad Paws by Rover Group, Inc. for a cash payment of $0.14 per Mad Paws share. The Scheme Meeting is being held at 10:30am (Sydney time) today, 24 October 2025. The Mad Paws Board members, management, and legal advisors are present at the meeting. The virtual component of the hybrid meeting is being held via an online platform, enabling shareholders to participate, ask questions, and submit votes. Voting will be conducted by poll, with online attendees and physical attendees provided with instructions on how to cast their votes. The Scheme is subject to a number of conditions precedent, and Mad Paws provides updates on the status of these conditions, including FIRB approval, completion of the E-Commerce Transactions, and repayment of all Mad Paws Group Financial Indebtedness. The 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 continuing to conclude that the Scheme is in the best interest of Mad Paws shareholders. The Mad Paws Board members and two major shareholders collectively hold or control approximately 29.6% of the Mad Paws shares and have instructed or intend to vote their shares in favour of the Scheme, subject to the same qualifications.