IPD GROUP LTD — Capital/Financing Update 2024

Jan 24, 2024

ABN 12 111 178 351 43 Newton Road, Wetherill Park, NSW 2164 PO Box 6422, Wetherill Park, NSW 1851 Tel: 02 9645 0777

==> picture [153 x 36] intentionally omitted <==

IPD Group enters into debt facility to partially fund acquisition of CMI Operations

25 January 2024

Not for release to US wire services or distribution in the United States

IPD Group Limited (ASX:IPG) ( IPD ) is pleased to announce that it has entered into a debt facility agreement ( Facility Agreement ) with the Commonwealth Bank of Australia to partially fund its conditional agreement to acquire 100% of the issued shares in CMI Operations Pty Ltd ( CMI ) from ASX listed Excelsior Capital Limited (ASX:ECL), as first announced on 28 November 2023 (the Acquisition ).

Further details of the debt facility arrangements are contained in IPD’s announcement of the Acquisition dated 28 November 2023.

A customary condition-subsequent of the Facility Agreement is that approval be granted by IPD’s shareholders for the giving of financial assistance by CMI in relation to the debt facility (such as by giving a guarantee, grant of security, or other obligation). Such approval will be sought at an EGM to be convened following completion of the Acquisition.

Nothing in this announcement constitutes investment, legal, tax or other advice. You should seek appropriate professional advice before making any investment decision. All dollar amounts are in Australian dollars unless otherwise indicated.

For further information, please visit our website https://ipdgroup.com.au/ or contact us directly at investorrelations@ipd.com.au

The release has been authorised by the IPD Group Limited Board of Directors.

-- ENDS --

About IPD

As a provider of electrical solutions in energy management and automation, IPD is dedicated to enhancing electrical infrastructure. The company focuses on energy efficiency, automation, and secure connectivity, prioritising the safety and wellbeing of people. Committed to innovation, IPD plays a pivotal role in the electrification and decarbonisation of the economy, paving the way for a cleaner, interconnected tomorrow.