KEYBRIDGE CAPITAL LIMITED — M&A Activity 2020

Jul 5, 2020

3 July 2020

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Takeover bid by WAM Active for Keybridge Capital – Update

Today, Australian Securities & Investments Commission (“ASIC”) granted WAM Active Limited ( WAM Active ) the in principle relief it required for it to proceed with its takeover offer for Keybridge Capital Limited ( Keybridge Capital ) and it will separately release a replacement bidder’s statement once it has been lodged with ASIC. Details of the relief granted in respect of the offer will be included in the replacement bidder’s statement.

In addition, on 29 June 2020 ASIC granted WAM Active conditional relief from the requirement under section 631(1)(b) of the Corporations Act for a bidder to make offers within 2 months of announcing a takeover proposal. The relief would have allowed WAM Active until 7 July 2020 to make offers; WAM Active could not make offers by this date. ASIC Class Order [CO 13/528] prohibited WAM Active from doing so. WAM Active was required to make an ASX Announcement no later than 1 July 2020 to explain the relief; no announcement was made for this reason.

This announcement has been authorised by the board of WAM Active Limited.

If you have any queries, please call Wilson Asset Management’s Chief Financial Officer Jesse Hamilton on 0401 944 807 or Head of Operations Martyn McCathie on 0433 312 603.

About WAM Active

WAM Active Limited (ASX: WAA) has an investment management agreement with Wilson Asset Management. Listed in January 2008, WAM Active provides investors with exposure to an active trading style with the aim of achieving a sound return with a low correlation to traditional markets. WAM Active’s investment objectives are to deliver a regular income stream via fully franked dividends, provide a positive return with low volatility, after fees, over most periods of time, and to preserve capital.

About Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for six leading listed investment companies: WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Research (ASX: WAX), WAM Active (ASX: WAA) and WAM Microcap (ASX: WMI), Wilson Asset Management invests over $3 billion on behalf of more than 80,000 retail investors. Wilson Asset Management is the creator and lead supporter of Future Generation Australia (ASX: FGX) and Future Generation Global (ASX: FGG).

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For further information, visit wilsonassetmanagement.com.au or contact: Geoff Wilson AO Kate Thorley Jesse Hamilton Chairman & Chief Executive Officer Chief Financial Officer Chief Investment Officer (02) 9247 6755 (02) 9247 6755 0401 944 807

Martyn McCathie Head of Operations 0433 312 603

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info@wilsonassetmanagement.com.au Level 26, Governor Phillip Tower 1 Farrer Place Sydney NSW 2000 Australia

wilsonassetmanagement.com.au Telephone. + 61 2 9247 6755

ABN 49 126 420 719