On January 20, 2021, Washington H. Soul Pattinson and Company Limited refers to its announcement dated on November 19, 2020 announcing submission, with Ashburn Pty Ltd, an entity controlled by Bryan Dorman, of a non-binding, indicative proposal to acquire all of the share capital of Regis Healthcare Limited for consideration of A$1.85 per share via a scheme of arrangement. Washington H. Soul Pattinson submitted an initial proposal at $1.65 per share on September 30, 2020 which represented a 48% premium to the 1-month VWAP of the Company shares on September 29, 2020. On November 19, 2020, with the support of the Company’s co-founder and major shareholder, Washington H. Soul Pattinson submitted a revised non-binding indicative proposal with an increased consideration of $1.85 per share, which represented a 59% premium to the 1- month VWAP of the Company shares on November 19, 2020. Washington H. Soul Pattinson believes that the 2 proposals provided the Company shareholders with an attractive opportunity to realize value for their shares in light of the significant uncertainty and funding challenges currently facing the aged care industry. Both proposals have been rejected by the Board of the Company. As a result, Washington H. Soul Pattinson has withdrawn its non-binding indicative proposal as outlined in its announcement dated 19 November 19, 2020 and ceased its association with Ashburn and Dorman.