• Close the Loop entered into a transaction process deed with Adamantem Capital
• Adamantem granted an expedited period of exclusivity to undertake due diligence and negotiate a binding Scheme Implementation Deed
• As of 20 January 2025, binding transaction documentation has not been executed

Close the Loop Limited (ASX:CLG) has provided an update on its discussions with Adamantem Capital (Adamantem) regarding Adamantem's proposal to acquire 100% of the shares in Close the Loop, by way of a scheme of arrangement, for $0.27 per share (Indicative Proposal). As previously announced, Close the Loop entered into a transaction process deed (Process Deed) granting Adamantem an expedited period of exclusivity (Exclusivity Period) to allow Adamantem to undertake due diligence and negotiate a binding Scheme Implementation Deed (SID). The Exclusivity Period was extended to 20 January 2025 to allow for the finalisation of due diligence and negotiation of binding transaction documentation. As of 20 January 2025, Adamantem continues to progress its due diligence and discussions between the parties are ongoing, however binding transaction documentation has not been executed. Therefore, in line with Close the Loop's prior announcements, the Exclusivity Period has now concluded. Close the Loop shareholders do not need to take any action in relation to the Indicative Proposal, and the Directors note that there is no certainty that the parties will enter into binding documentation nor that a transaction of any kind will materialise. The Company will continue to keep the market informed in accordance with its continuous disclosure obligations.