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15 June 2026

FRASERS GROUP PLC

Takeover offer for Accent

Frasers Group plc (Frasers or the Company) has announced via the Australian Securities Exchange (ASX) an all-cash on-market takeover offer (the Offer) to acquire all of the fully paid ordinary shares (the Accent Shares) that it does not hold in the issued share capital of Accent Group Limited (ASX: AX1) (Accent) at a price of A$0.65 per Accent Share (the Offer Price). The full announcement can be seen here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03100076-2A1677329&v=undefined.

Based on the number of Accent Shares currently in issue, Frasers holds 22.90% of the fully paid ordinary shares in the issued capital of Accent. The aggregate consideration pursuant to the Offer for the Accent Shares which are not already held by Frasers is approximately A$316 million (approximately £166 million).

A copy of the bidder's statement in relation to the Offer (the Bidder's Statement) has been lodged with the Australian Securities and Investments Commission and served on Accent. The Offer will be made in accordance with the terms set forth in the Bidder's Statement. There are no conditions attached to the Offer.

The Offer will officially commence at the start of trading on ASX on 30 June 2026 and will end at the close of trading on ASX on 30 July 2026 (the Offer Period), unless the Offer is withdrawn or the Offer Period is extended.

Barrenjoey Markets Pty Limited has been appointed as Frasers' broker and will stand in the market to acquire on behalf of Frasers all Accent Shares offered at the Offer Price during normal trading on ASX or Cboe Australia (being the financial market operated by Cboe Global Markets, Inc. and Cboe Australia Pty Ltd) on and from 15 June 2026 (Australian time).  Accordingly, Accent shareholders can sell their Accent Shares to Frasers at the Offer Price on-market before the commencement of the Offer Period and be paid in cash two trading days after their sale of Accent Shares.

Further information on the Offer is set out in the Bidder's Statement, which is available through this link: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03100080-2A1677336&v=undefined.

Further announcements will be made as and when appropriate.

RPC is acting as English law adviser to Frasers, with Lander & Rogers providing Australian law advice.

Enquiries

Frasers Group plc