ADAIRS LIMITED — Capital/Financing Update 2021

Nov 30, 2021

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Release to the Australian Securities Exchange

Adairs Limited

Focus on Furniture – Completion of acquisition

1 December 2021

Adairs Limited (ASX: ADH) is pleased to confirm that it has today completed its acquisition of Focus on Furniture (“Focus”).

Background:

On 25 November 2021 Adairs announced that it had entered into a binding agreement to acquire all of the shares of Focus on Furniture for an enterprise value of $80 million. The effective date of the acquisition is 1 December 2021, meaning that Adairs will account for a 30-week contribution of Focus on Furniture in its FY22 results.

The transaction terms and structure are as outlined in Adairs’ announcement on 25 November 2021.

Contact:

Jamie Adamson Head of Investor Relations

P: +61-3 8888 4500

M: +61 (0) 437 449 935 E: jadamson@adairs.com.au

About Adairs Limited

Adairs Limited is Australia’s largest omni channel specialty retailer of home furnishings, home furniture and home decoration products. We own and operate three vertically integrated brands in the Home category – Adairs, Mocka and now Focus on Furniture. All brands are design led, customer focused, and sell quality in-house designed product direct to customers in Australia and New Zealand.

Adairs head office is in Melbourne, Australia.

For further information visit our investor relations website www.investors.adairs.com.au

About Adairs

Adairs is a leading specialty retailer of home furnishings in Australia and New Zealand with a national footprint of stores across a number of formats and a large and growing online channel. Adairs strategy is to present customers with a differentiated proposition, which combines on-trend fashion products, quality staples, strong value and superior customer service.

For further information visit www.adairs.com.au

Adairs Limited

www.adairs.com.au

2 International Court, Scoresby, Victoria, Australia, 3179

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About Mocka

Mocka is a vertically integrated pure-play online home and living products designer and retailer operating in Australia and New Zealand. Mocka sells its own exclusive, well designed, functional and stylish products in the Home Furniture & Décor, Kids and Baby categories. Delivering great product and compelling everyday value-for-money is core to the Mocka customer proposition.

For further information visit www.mocka.com.au

About Focus on Furniture

Focus on Furniture (‘Focus’) is a vertically integrated omni-channel furniture and bedding retailer offering well designed, functional and on-trend products at great value for money through its network of stores in Australia and its online channel. Focus is characterised by its attention to customer service, support, quality and range.

For further information visit www.focusonfurniture.com.au

Adairs Limited

www.adairs.com.au 2 International Court, Scoresby, Victoria, Australia, 3179