• Embark offers 1 Embark share for every 1.24 Mayfield shares or $0.50 cash per Mayfield share
• Offer is subject to conditions and is open until 5 March 2026
• Replacement Bidder's Statement lodged with ASIC and ASX

Embark Early Education Limited (Embark) has made an off-market takeover bid to acquire all the ordinary shares in Mayfield Childcare Limited (Mayfield) that it does not already own. Embark is offering Mayfield shareholders the choice of either 1 Embark share for every 1.24 Mayfield shares they hold, or $0.50 cash per Mayfield share. The offer is subject to a number of conditions, including a minimum acceptance condition of more than 50% of Mayfield shares. The offer is open until 7:00pm (Sydney time) on 5 March 2026, unless extended or withdrawn. Embark has lodged a replacement Bidder's Statement with ASIC and ASX, which replaces the original Bidder's Statement lodged on 19 December 2025. The replacement Bidder's Statement contains the full terms and conditions of the offer, as well as information about Embark, Mayfield, and the combined group. Mayfield shareholders are advised to read the Bidder's Statement carefully and seek independent advice before deciding whether to accept the offer.