Silk Logistics Holdings (SLH) investor relations material

Transaction overview

• DP World Australia proposes to acquire all Silk shares at $2.14 per share via a Scheme of Arrangement, valuing Silk's equity at approximately $174.5 million and representing a 45.6% premium to the last closing price before announcement.

• The Scheme offers a 60.6% premium to the one-month VWAP and a 58.4% premium to the three-month VWAP.

• If approved, shareholders will receive $2.14 cash per share and Silk will be delisted from the ASX.

• Transaction costs are estimated at $7.2 million if implemented, borne by DP World Australia; $2.3 million will be incurred regardless.

Independent expert and board recommendation

• Kroll Australia, as Independent Expert, concluded the Scheme is in the best interests of shareholders in the absence of a Superior Proposal.

• The Independent Expert reaffirmed its conclusion in a supplementary report in July 2025.

• Silk Directors unanimously recommend voting in favour and are voting all their shares accordingly.

• No Superior Proposal has emerged as of the meeting date.

Shareholder considerations

• Reasons to vote for include attractive premium, certainty of value, removal of refinancing risk, and no brokerage charges.

• Reasons to vote against include desire to retain exposure to Silk's future performance, potential for a Superior Proposal, or unfavourable tax consequences.

• If the Scheme fails, shareholders retain their shares and exposure to Silk's risks and benefits, with share price subject to volatility.