Australia Sunny Glass Group Limited entered into binding term sheet to acquire DW Sullivan Windows Pty Ltd for AUD 4.3 million on May 3, 2023. Australia Sunny Glass Group Limited entered into share purchase agreement to acquire DW Sullivan Windows Pty Ltd for AUD 4.3 million on June 28, 2023. In related consideration Australia Sunny Glass Group Limited will pay the Vendors AUD 0.15 million as an upfront cash consideration and an additional payment of AUD 0.15million to the Vendors will occur one year after completion.

Australia Sunny Glass Group Limited will issue 13.333333 million fully paid ordinary shares at a deemed issue price of AUD 0.30 per share pro-rata to the Vendors to complete the acquisition. David Sullivan will remain in the role of Managing Director of Sullivans and will also be appointed to the board of AG1 as a non-executive director. The completion of the acquisition will be subject to conditions precedent, including the Australia Sunny Glass Group obtaining all necessary change of control consents and any required third-party consents, shareholder or regulatory approvals and other conditions customary for a transaction of this nature.

Anticipated date for the completion of the transaction July 3, 2023. As of May 5, 2023, shareholders of Australian Sunny Group approved the deal. As of June 28, 2023, The acquisition has become unconditional.