Update on non-binding indicative proposals received

KMD BRANDS LIMITED W kmdbrands.com

KMD Brands Limited
ASX / NZX / Media announcement

2 November 2026

KMD Brands Limited update on non-binding indicative
proposals received
KMD Brands Limited (NZX/ASX: KMD) refers to the FY26 annual results announcement on 23 September
2026, in which KMD advised that it had received a number of indicative approaches from external parties
during its business review and that the Board had determined that further engagement with a limited number
of those parties was appropriate.

Following this engagement, KMD entered into an exclusivity agreement with Bluestar Alliance LLC, a US-based
consumer brand group, to permit it to undertake confirmatory due diligence and to continue discussions with
KMD regarding a possible transaction to acquire all of the shares in KMD. Those discussions are ongoing with
exclusivity able to be extended if specified conditions are met, subject to a long stop date of 23 December 2026.

There is no certainty at this time that this process will result in receipt of a binding proposal, or that any
transaction will ultimately be consummated. The Board has not made, and the granting of exclusivity should not
be taken as, a recommendation of any transaction. Accordingly, shareholders do not need to take any action at
this time.

This announcement has been authorised for release to NZX / ASX by the Board of Directors of KMD Brands
Limited.

ENDS

For media and investor enquiries, please contact enquiries@kmdbrands.com
or
Frances Blundell, Chief Legal & ESG Officer and Company Secretary
companysecretary@kmdbrands.com