Bidder's Statement

• Frasers Group plc makes an unconditional cash offer for Accent Group Limited at $0.65 per share.
• The offer is open to all Accent Group Limited shareholders.
• The offer is unconditional and closes on 30 July 2026.

Frasers Group plc has issued a Bidder's Statement to acquire all fully paid ordinary shares in Accent Group Limited that it or its associates do not currently own. The offer price is A$0.65 cash per Accent Share, representing a total offer value of approximately A$448 million. The offer is unconditional and will be accepted by selling Accent Shares on the ASX or Cboe, with cash settlement two Trading Days later. Frasers Group plc, which already holds a significant stake in Accent Group Limited, has expressed concerns over Accent's recent financial performance, capital management approach, and strategic direction under the current management.