• SEG to undertake on-market share buy-back of up to 10% of issued shares over 12 months
• Buy-back aims to enhance shareholder value while maintaining balance sheet strength
• Shares will be acquired at a price no more than 5% above 5-day VWAP

Sports Entertainment Group Limited (SEG) today announced its intention to undertake an on-market share buy-back of up to 10% of its issued ordinary shares over the next 12 months. The buy-back forms part of the Board's disciplined and shareholder-aligned approach to capital allocation. The Board considers that SEG's current share price does not fully reflect the Group's underlying value. An on-market buy-back provides an efficient and flexible mechanism to enhance shareholder value while maintaining balance sheet strength. The buy-back will be conducted in accordance with the '10/12' limit under the Corporations Act 2001 (Cth) and therefore does not require shareholder approval. Purchases will be made at the Company's discretion from time to time during the buy-back period, subject to market conditions, prevailing share price, forecast capital requirements and other relevant considerations. The buy-back is expected to commence on 24 March 2026. Shares will be acquired at a price no more than 5% above the volume-weighted average price (VWAP) of SEG shares over the five trading days prior to purchase. SEG reserves the right to vary, suspend or terminate the buy-back at any time. There is no guarantee that SEG will purchase any or all of the shares referred to above.