On June 6, 2021, Autodesk, Inc confirmed that it has submitted a non- binding proposal to acquire all the outstanding shares of common stock of Altium Limited for AUD$38.50, to be implemented by way of a scheme of arrangement. Autodesk believes the Company's solutions would be complementary to its portfolio, creating unique opportunities for customers while delivering significant, certain and immediate value to its shareholders. The proposal represents a 41.5% premium over the Company's closing price of AUD$27.21 on June 4, 2021, one business day prior to the announcement by the Company of Autodesk's proposal and a premium of over 47.4% to the one-month volume-weighted average price. Autodesk stated that the proposal is indicative, non-binding and subject to a number of conditions including, but not limited to, satisfactory completion of due diligence, unanimous recommendation in favor of the transaction by the Company board, agreement between Autodesk and the Company and execution of a scheme implementation agreement incorporating customary terms and conditions for a transaction of this nature, the Company shareholder and court approval, receipt of all applicable regulatory approvals and no material adverse change to the Company.