• CVC and LAC have agreed not to exercise the put and call options for the Liverpool property
• The Option Deed will lapse on 1 September 2026
• Vendor to pay a break fee and refund payments totalling ~$46 million to LAC
• CVC recognized a write-down of ~$13 million against the project

CVC Limited has decided against exercising the call option on the Liverpool property, located at 1 Heathcote Road, Moorebank, New South Wales. The decision follows a detailed review of the project's constraints and risks. As a result, the Option Deed will lapse on 1 September 2026. The vendor will pay a break fee and refund payments totaling approximately $46 million to LAC. This decision removes a significant cash outflow and provides substantial cash inflows over the next six months, which will be used for general corporate purposes. CVC has recognized a write-down of approximately $13 million against the project in the Financial Year Ended 30 June 2026.

CVC Limited has determined that the optimal strategy is to lapse the Option Deed, mitigating future risks and uncertainties associated with the Liverpool property.