• Southern Cross Media Group acquires all shares of Seven West Media
• Jeff Howard appointed as Managing Director & CEO of Southern Cross
• Changes to Southern Cross Board with new appointments

Southern Cross Media Group Limited (ASX:SXL) has today announced the successful implementation of the Scheme of Arrangement under which Southern Cross proposed to acquire all of the issued shares in Seven West Media Limited (ASX:SWM). Accordingly, Southern Cross now holds all of the shares on issue in Seven. Seven shareholders have received the scheme consideration of 0.1552 Southern Cross shares for each Seven share held at 7:00pm (Sydney time) on 30 December 2025. The new Southern Cross shares will commence trading on an ordinary settlement basis on 8 January 2026. Effective today, Jeff Howard has assumed the role of Managing Director & CEO of Southern Cross. The key terms of Jeff Howard's employment are consistent with those previously disclosed. John Kelly has stepped down from the Southern Cross Board as Chief Executive Officer and Managing Director, and will become the Southern Cross Group Managing Director, Audio. Following the successful implementation of the Scheme, Seven CFO Craig Haskins has advised the Board of his intention to retire after a period of transition during the current quarter. Toby Potter will remain as Southern Cross CFO on an interim basis.The Southern Cross Board has also been reconstituted, with the appointment of Kerry Stokes AC as Interim Chair, Ryan Stokes AO, Michael Malone, and Teresa Dyson as Non-Executive Directors, joining existing Southern Cross Non-Executive Directors Heith Mackay-Cruise, Marina Go and Ido Leffler. Kerry Stokes AC will assume the role of Chair of the Board until stepping down from the Board at the end of February 2026 and transitioning the role to Heith Mackay-Cruise. Michael Malone will also step down as a Director at the end of February 2026.