• AIH to acquire all MCE shares for $0.40 cash per share
• Acquisition forms part of AIH's strategy to build a market leading technical buoyancy and subsea ancillaries platform
• MCE Board unanimously recommends shareholders vote in favour of the Scheme

Advanced Innergy Holdings Limited (AIH) has entered into a scheme implementation deed with Matrix Composites & Engineering Ltd (MCE) to acquire all of MCE's ordinary shares for $0.40 cash per share via a scheme of arrangement. The acquisition forms a key part of AIH's strategy to build a market leading technical buoyancy and subsea ancillaries platform and establish its manufacturing presence in the Asia-Pacific region. The MCE Board unanimously recommends that MCE shareholders vote in favour of the Scheme, in the absence of a superior proposal and subject to an Independent Expert concluding that the Scheme is in the best interests of MCE shareholders. The Scheme is subject to customary conditions, including MCE shareholder approval, court approval, an Independent Expert concluding that the Scheme is in the best interest of MCE shareholders, and certain other conditions related to FIRB approval and the S&P/ASX 200 index performance. AIH and MCE are targeting implementation of the Scheme in late July 2026, subject to necessary approvals being obtained.