Update on Acquisition of California Olive Ranch, Inc.

• Cobram Estate Olives completes DOJ anti-trust review for acquisition of California Olive Ranch
• Acquisition expected to complete on or before 26th March 2026
• No changes to the terms of the acquisition

Cobram Estate Olives Limited ('CBO' or 'the Company') announced that it has successfully completed the United States Department of Justice's ('DOJ') anti-trust review for the acquisition of USA-based California Olive Ranch, Inc. ('COR'). As previously announced on 24th December 2025, CBO entered into a binding agreement to acquire COR, the leading producer and marketer of Californian extra virgin olive oil. The transaction was subject to anti-trust approval from the DOJ. CBO is pleased to report that it has now completed the DOJ's anti-trust review, and the acquisition is expected to be completed on or before 26th March 2026 AEST (25th March 2026 in the USA). Integration of COR will commence immediately after the completion of the transaction. There have not been any changes to the terms of the acquisition.