Acquisition Announcement

• Codan to acquire 100% of Eventide Communications LLC
• Acquisition to expand Zetron's command-and-control ecosystem
• Expected to be accretive to EPS in the first full year

Codan Limited, through its subsidiary Zetron, has entered into a binding agreement to acquire 100% of US-based Eventide Communications LLC. Established in 1971, Eventide specializes in mission-critical recording and analytics solutions, with over 9,000 live recorders deployed across 80 countries. The acquisition aims to enhance Zetron's command-and-control solutions by integrating Eventide's recording, reporting, and critical operational insights. Valued at approximately $244 million, the acquisition will be funded through a combination of cash reserves, debt facilities, and deferred equity issuance. Expected to close in early 2027, the acquisition is anticipated to be mid-single digits EPS accretive in the first full year.

Codan expects the acquisition to be mid-single digits EPS accretive in the first full year.

Codan expects the acquisition to expand Zetron's command-and-control ecosystem, enhance revenue streams, and drive geographic and vertical expansion.