• Accent Group Ltd has issued a supplementary target's statement in response to Frasers Group plc's takeover bid
• The document addresses concerns raised by the Takeovers Panel about the initial target's statement
• Accent's Independent Board Committee maintains its recommendation to reject the offer
• The document clarifies the basis for the offer price statements and the 2030 Strategic Growth Plan

Accent Group Limited (ASX: AX1) has released a First Supplementary Target's Statement in response to Frasers Group plc's on-market takeover bid. This document aims to address concerns raised by the Takeovers Panel regarding the initial target's statement issued on 29 June 2026. The Independent Board Committee (IBC) of Accent Group continues to recommend shareholders reject the offer, which is priced at A$0.65 per share. The supplementary statement provides further clarification on the basis for the offer price statements and the 2030 Strategic Growth Plan. It emphasizes that the 2030 Strategic Growth Plan was one component of the IBC's assessment but was not determinative. The expected benefits of the 2030 Strategic Growth Plan are subject to various assumptions, risks, and uncertainties. The document also clarifies that the IBC did not assign a numerical weighting to the 2030 Strategic Growth Plan or derive a per-share value from it. A copy of the First Supplementary Target's Statement has been sent to the Bidder and lodged with ASIC today.

No high-importance, price-sensitive financial metrics provided

Accent Group Ltd maintains its recommendation for shareholders to reject Frasers Group plc's takeover bid, citing the offer price as materially inadequate.