PACIFIC CURRENT GROUP LIMITED — Capital/Financing Update 2024

Dec 11, 2024

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Tacoma // Melbourne

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ASX ANNOUNCEMENT

12 December 2024

Pacific Current Group Update on Proposed Buy-Back

Pacific Current Group Limited (ASX: PAC) ( PAC ) refers to its earlier announcements in relation to the proposed off-market equal access share buy-back of up to $300m of surplus capital ( BuyBack ), subject to shareholder approval at an Extraordinary General Meeting.

The Board has further considered the potential terms of the Buy-Back, and currently intends, subject to a range of factors including market conditions, engagement with regulators and the timing of the Buy-Back, to propose to shareholders to undertake the Buy-Back, at a price of $12 per PAC share.

Following engagement with the ASX, the ASX has determined the Buy-Back falls within the requirements of Listing Rule 10.1. This reflects the composition of the company’s share register with the three largest shareholders representing approximately 45% of shares on issue. As a result of the ASX’s determination, PAC will obtain an independent expert's report to accompany the notice of meeting to approve the Buy-Back.

Accordingly, PAC now anticipates releasing the notice of meeting for approval of the Buy-Back in late December 2024 or early January 2025 and holding a meeting in late January or early February 2025, with the offer period for the Buy-Back anticipated to close in March 2025. All times are indicative only and are subject to further engagement with PAC's registry, ASX and ASIC.

AUTHORISED FOR LODGEMENT BY:

The Board of Pacific Current Group Limited.

CONTACT

For Investor & Media enquiries:

Michael Clarke - Executive Director & Acting CEO

E: info@paccurrent.com

T: (+61) 3 8375 9611

Pacific Current Group (ABN 39 006 708 792) Suite 3, Level 3, 257 Collins Street Melbourne VIC 3000 Australia www.paccurrent.com Tel: +61 3 8375 9611

ABOUT PACIFIC CURRENT GROUP // www.paccurrent.com

Pacific Current Group is a multi-boutique asset management firm dedicated to providing exceptional value to shareholders, investors and partners. We apply our strategic resources, including permanent capital and operational expertise to help our partners excel. Excluding the public securities in Abacus, Pacific Current Group has investments in 10 boutique asset managers globally. For more information, please visit: www.paccurrent.com