• Acquisition of Lightning Broadband's wholesale FTTP network with ~54,000 secured lots
• Expands Superloop's Smart Communities division to a total contracted footprint of 170,000 lots
• Acquisition includes Lightning Broadband's retail and wholesale broadband operations with ~14,000 Services In Operation

Superloop Limited (ASX:SLC) has entered into a binding Share Purchase Agreement to acquire 100% of Lynham Networks Pty Ltd, the parent company of Lightning Broadband, for $165 million in cash consideration. The acquisition positions Superloop as a leading national Fibre-To-The-Premises ('FTTP') challenger, significantly accelerating the Company's Smart Communities strategy. The acquisition includes Lightning Broadband's wholesale FTTP network with ~54,000 secured lots across VIC, NSW, ACT, SA, QLD and WA, including ~24,000 built lots and ~30,000 further contracted lots ('the Contract Book') for future delivery. The acquisition expands Superloop's Smart Communities division to a total contracted footprint of 170,000 lots across an existing constructed network of ~84,800 lots and a further ~85,500 lots for future delivery. Lightning Broadband operates an open-access wholesale network across 400+ Multi-Dwelling Units ('MDU') and Single-Dwelling Unit ('SDU') developments, as the default last mile fibre provider in these designated areas, supported by Statutory Infrastructure Provider ('SIP') status. The acquisition also includes Lightning Broadband's retail and wholesale broadband operations with ~14,000 Services In Operation (SIOs). The purchase price of $165 million represents a ~15x FY27 EV/EBITDA based on forecast EBITDA of $11 million (pre-synergies) and ~10x on a post-synergies basis, with $5m of synergies anticipated to be achieved within 3 years. The acquisition is expected to be EPS accretive in FY27 and will be fully funded from existing cash and the Company's debt facility, with leverage remaining low at approximately 1.4x EBITDA.

The combination of Lightning Broadband with Superloop's existing Smart Communities portfolio, including the acquisition of Frontier Networks, creates a serious challenger to incumbents. With a combined built and contracted book of approximately 170,000 lots, Superloop has clear visibility of long-term sustainable growth.