Receipt of improved non-binding proposal from POSCOInternational, intention to unanimously recommendKey points• Senex has received an improved non-binding proposal to acquire 100% of Senex from POSCOInternational for A$4.601 per share by way of a scheme of arrangement• Cash offer price represents a 25% premium to the 30-day VWAP and a 34% premium to the 90-dayVWAP up to 15 October 2021, the trading day prior to the first public announcement of takeoverdiscussions• Senex Board intends to unanimously recommend the proposed scheme (subject to the conditionsbelow)• Senex has extended exclusivity to 26 November 2021 to allow time to negotiate and enter into aScheme Implementation Agreement and for POSCO International to secure its internal approvals• Senex intends to pay a dividend of up to A$0.05 per share, subject to review by the Board at thattime
Ann: Improved POSCO proposal and intention to recommend, page-2
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