Avast PLC (AVST.L) Statement re Possible Offer

Response to press speculation regarding a possible merger of Avast with NortonLifeLock Inc.

The Board of Avast notes the recent press speculation concerning the possibility of an offer being made for the entire issued and to be issued share capital of Avast.

The Board of Avast confirms that it is in advanced discussions regarding a possible merger of Avast with NortonLifeLock Inc. (“Norton”) (the “Possible Merger”).

There can be no certainty as to whether any transaction will take place or the terms on which any Possible Merger may be agreed. A further announcement will be made if and when appropriate.

The Possible Merger may be implemented as a cash and share offer for Avast by Norton in accordance with the requirements of the City Code on Takeovers and Mergers ( “Code”).

In accordance with Rule 2.6(a) of the Code, Norton is required, by not later than 5:00 p.m. (London time) on 11 August 2021, being 28 days after today’s date, to either announce a firm intention to make an offer for Avast in accordance with Rule 2.7 of the Code, or announce that it does not intend to make an offer for Avast, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code.

This announcement has been made without the consent of Norton.

Possible Combination with Avast PLC (“Avast” or the “Company”)

NortonLifeLock Inc. (“NortonLifeLock”), a global leader in consumer Cyber Safety, notes the announcement by Avast, released earlier today, and confirms that it is in advanced discussions with the board of Avast regarding a possible combination of NortonLifeLock and Avast.

A combination of NortonLifeLock and Avast would bring together two companies with aligned visions, highly complementary business profiles and a joint commitment to innovation that helps protect and empower people to live their digital lives safely. We would draw on the best of both companies to ensure that the combination would benefit our customers, reward our employees and maximise long term value for all shareholders.

The possible combination may be implemented by way of a cash and share offer by NortonLifeLock for the entire issued and to be issued share capital of Avast but, pursuant to Rule 2.5 of the City Code on Takeovers and Mergers (the “Code”), NortonLifeLock reserves the right to vary the form and/or mix of the consideration. This announcement does not amount to an announcement of a firm intention to make an offer under Rule 2.7 of the Code. There can be no certainty that any firm offer for Avast will be made nor as to the terms on which any firm offer might be made.

In accordance with Rule 2.6(a) of the Code, NortonLifeLock must, by not later than 5.00 pm on 11 August 2021 (being 28 days after today’s date), either announce a firm intention to make an offer for Avast in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Avast, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers (the “Panel”) in accordance with Rule 2.6(c) of the Code.

A further announcement will be made as appropriate.

Enquiries

Avast

Peter Russell, Director of Investor Relations

Stephanie Kane, VP PR and Corporate Communications

IR@avast.com


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