Xref (XF1) Scheme Meeting 2025 summary

Opening remarks and agenda

• Meeting opened with a welcome and explanation of the scheme of arrangement for the acquisition by SEEK Limited and its nominee.

• Scheme Meeting convened to consider approval of the proposed acquisition via a scheme of arrangement.

• Notice of meeting and presentation slides were lodged with the ASX and made available to shareholders.

• Voting instructions and registration process for shareholders provided, including online participation details.

• Meeting held as a hybrid event, allowing participation in person, virtually, or by phone.

Strategic initiatives and plans

• Strategic review initiated after multiple acquisition interests, with SEEK the only party to submit a formal proposal.

• Scheme Implementation Deed signed with SEEK on 14 November 2024 for acquisition of all shares at AUD 0.218 per share, with exclusivity granted.

Financial performance review

• Scheme Consideration of $0.218 per share represents a 61% premium to the undisturbed price and a 41% premium to the 30-day VWAP prior to the announcement.

• Implied equity value of the transaction is approximately $41.85 million.

• No financial performance review was presented during the meeting.