• Cluey exercises right to terminate acquisition of Education Futures Group
• Transaction did not proceed due to non-satisfaction of conditions precedent
• Cluey remains committed to in-person blended learning strategy

Cluey Ltd (ASX: CLU) has announced that it will not proceed with the acquisition of Education Futures Group Pty Ltd ('EFG'), the holding company of the Art of Smart group of companies ('AOS Group'). Cluey has exercised its right of termination under the Share Purchase Agreement ('SPA') dated 5 December 2025 due to the non-satisfaction by the sunset date of a number of conditions precedent incorporated in the SPA for Cluey's benefit. The board of Cluey expressed disappointment that the transaction did not proceed. However, Cluey remains committed to pursuing its in-person blended learning strategy and will continue to explore synergistic acquisitions. Funds raised in the November 2025 capital raising will be used to support this strategy, as well as for working capital and transaction costs. Cluey noted that early signs in its core business are positive, with new student enrolments this January being encouraging as the company approaches the beginning of the 2026 academic year.

Cluey remains committed to pursuing its in-person blended learning strategy and will continue to explore synergistic acquisitions.