ARN MEDIA LIMITED — M&A Activity 2018

May 20, 2018

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oOh!media Limited ABN 69 602 195 380

21 May 2018

ASX Announcement

oOh!media Limited responds to media speculation

SYDNEY, 21 May 2018 – oOh!media Limited (ASX: OML ) notes media speculation today suggesting OML submitted a revised offer to HT&E Limited ( HT&E ) to acquire Adshel.

OML confirmed in its ASX announcement dated 12 April 2018 that it had submitted a confidential, non-binding indicative offer to HT&E in relation to Adshel .

OML confirms that on 30 April 2018 it submitted a revised confidential, non-binding indicative cash offer to HT&E in relation to Adshel ( Improved Indicative Offer ). The Improved Indicative Offer valued Adshel at A$470 million.

Although the Improved Indicative Offer has not to date been accepted by HT&E, OML remains ready to proceed with a period of exclusivity to undertake due diligence which may permit OML to submit a binding offer for Adshel.

There is no certainty that the Improved Indicative Offer will result in a transaction.

Consistent with OML’s announcement to the ASX on 12 April 2018, in addition to organic growth, OML has a long history of securing new contracts and successfully sourcing and integrating strategic acquisitions and bolt-on opportunities, and remains active in continuing to evaluate all opportunities that enhance shareholder value.

OML confirms that it is in compliance with the ASX Listing Rules, in particular, Listing Rule 3.1, and it will keep shareholders fully informed in accordance with its continuous disclosure obligations.

ENDS

Investor Relations contact: Media contact: Martin Cole Peter Laidlaw +612 9927 5273 0419 210 306 ***

About oOh!media Limited: oOh!media is a leading operator in Australia and New Zealand’s fast-growing Out Of Home advertising industry. We create deep engagement between people and brands through Unmissable location-based media solutions. Our network is unparalleled, with a diverse portfolio of static and digital signs across roadside, retail, airport and place-based media offering in CBD office towers, cafes, fitness venues, bars and universities. We combine this extensive reach with sophisticated data, industry leading insights and world leading digital innovation, integrating our physical inventory with social and mobile online channels (via Junkee Media) to provide clients with greater connections with consumers.