METCASH LIMITED (MTS)

The suspension of trading in the securities of Metcash Limited will be lifted prior to the commencement of trading today, Tuesday, 6 February 2024 following the release by MTS of an announcement regarding an equity raising

The Company announces the successful completion of its $300m fully underwritten institutional placement of approximately 89.6 million new fully paid ordinary share to institutional investors at a price of $3.35 per New Share. The Placement was oversubscribed and generated significant demand from both existing shareholders and new institutional investors. Eligible institutional shareholders who bid for up to their pro-rata share of New Shares under the Placement were allocated their bid in full. New Shares under the Placement are expected to settle on Thursday, 8 February 2024, and be issued and commence trading on the ASX on a normal settlement basis on Friday, 9 February 2024. Eligible Metcash shareholders with a registered address in Australia or New Zealand as at the record date of 7:00pm (AEDT) on Friday, 2 February 2024 will have the opportunity to apply for up to $30,000 worth of Metcash shares free of any brokerage, commission and transaction costs, and subject to scale back in accordance with the policy set out in the Share Purchase Plan offer booklet. Shares will be offered at the lower of: $3.35 per share, being the Placement Price; and the volume weighted average price of Metcash shares traded on the 5 trading days up to, and including, the Share Purchase Plan closing date.

The company releases a notice of proposed issue of securities.

The company releases its Strategic Acquisitions and Equity Raising - Presentation.

Acquisition of Superior Food, a leading Australian foodservice distribution business (EV of up to $412.3m). Acquisition of Bianco Construction Supplies, a construction and industrial supplies business servicing the South Australia and Northern Territory trade market (EV of $82.2m). Acquisition of Alpine Truss, one of the largest Frame & Truss operators in Australia (EV of $64.0m). Both Hardware acquisitions support Independent Hardware Group's "˜Whole of House' and network expansion strategies. Compelling expected annualised synergies of ~$19m. Expected to be mid-single digit EPS accretive3 on a pro-forma Oct-23 LTM basis including synergies, and EPS accretive3 excluding synergies. Expected to be accretive to Metcash's margins. Funded via a fully underwritten institutional Placement of $300m, existing cash and available debt facilities. A non-underwritten Share Purchase Plan of up to $25m5 is made available for eligible shareholders.

The securities of Metcash Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MTS, pending the release of an announcement regarding proposed acquisitions and an equity raising.

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