Update on Wakeling Automotive Acquisition

• ACCC to proceed with Phase 2 review
• Peter Warren to submit new Phase 1 application
• Original ACCC application withdrawn

Peter Warren Automotive Holdings Limited (ASX: PWR) provides an update on the Australian Competition and Consumer Commission's (ACCC) review of the proposed acquisition of Wakeling Automotive. The ACCC has advised that it will proceed to a Phase 2 review. Peter Warren has considered the Phase 2 review process and the ACCC's position. The company has met with Wakeling Automotive vendors to discuss the acquisition. Peter Warren intends to submit a new Phase 1 application with a remedy proposal to the ACCC. The original ACCC application has been withdrawn, and it will no longer proceed to a Phase 2 review. Peter Warren looks forward to progressing the transaction and will provide further updates when appropriate.