• Strategic acquisition of SMEC Power & Technology for up to $30 million
• Expands into underground mining and international export markets
• Complementary capabilities enhance Mayfield's integrated model

Mayfield Group Holdings Limited (ASX: MYG) has announced the acquisition of the business assets and undertakings of SMEC Power & Technology (Southern Mining Electrical Contractors) ('SMEC') as a going concern, for a total consideration of up to $30 million, subject to purchase price adjustments. SMEC is a leading Australian manufacturer of specialized electrical products for mining, infrastructure and utility clients, with facilities in Perth and Kalgoorlie. The acquisition will be effected by way of an asset sale agreement, under which MYG (or its nominated subsidiary) will acquire all SMEC's business assets and operations as a going concern, including plant, equipment, inventory, goodwill, intellectual property, and the benefit of customer contracts and business records. The transaction is on a cash-free, debt-free basis with normal working capital. The acquisition opens two new growth vectors for Mayfield: underground mining and international export markets. SMEC has an established export channel, with its equipment currently purchased by mining companies operating across Africa and Asia. SMEC's capabilities also extend naturally into renewables and data centres through its kiosk substation products, creating further synergies with Mayfield's existing operations. The acquisition is directly aligned with Mayfield's strategic objective of becoming Australia's pre-eminent electrical infrastructure group, expanding the Company's footprint and complementing its existing manufacturing, services, and critical power equipment businesses.

The acquisition of SMEC further strengthens Mayfield as the essential foundation upon which Australia's progress is built, providing the critical electrical infrastructure that enables new technologies and industries.