Notice of Compulsory Acquisition

• Crimson Australia has acquired over 90% of Kip McGrath shares
• Compulsory acquisition process has commenced for remaining shares
• Shareholders who accepted the offer will receive consideration within 10 business days

Crimson Consulting Australia Pty Ltd, a subsidiary of Crimson Consulting Limited, has initiated a compulsory acquisition for all remaining ordinary shares in Kip McGrath Education Centres Limited, following an off-market takeover offer. Crimson Australia now holds a relevant interest in more than 90% of Kip McGrath shares and has received sufficient acceptances to proceed with the compulsory acquisition. The compulsory acquisition will be conducted under the same terms as the takeover offer, which is A$0.75 per share, minus any dividends Crimson Australia is entitled to reduce the offer consideration. Shareholders who accepted the offer before the closing time will receive their consideration within 10 business days, while those who did not accept will receive their consideration from Kip McGrath after the compulsory acquisition process.