• Collins Foods enters binding Heads of Agreement to settle employee class action
• Settlement amount of up to AUD $9 million to be paid by Collins Foods
• Settlement subject to Federal Court approval
• Collins Foods makes no admission of liability

Collins Foods Limited (ASX: CKF) has announced that it has entered into a binding Heads of Agreement (HOA) with the applicants to settle the employee class action regarding 10-minute rest breaks that was commenced against the company and other respondents in December 2023. The agreed settlement amount payable by Collins Foods (for its relevant Group entities) is up to AUD $9 million towards a multi-party settlement. The settlement is subject to approval by the Federal Court of Australia. The structure of the settlement includes a cap and collar with respect to the number of group members that register to participate in the class action. If fewer than expected group members register, there will be a reduction in the Settlement Amount, and if more than expected group members register, Collins Foods (collectively with the other respondents to the Settlement Deed) will have the option to terminate the settlement or make an additional payment. In agreeing to resolve the litigation, Collins Foods makes no admission of liability. The terms of the settlement are otherwise confidential. Collins Foods remains committed to compliance with all applicable workplace laws and to supporting its team members.