M&A Transactions

Zeta Global Holdings Corp. completed an acquisition involving Marigold Group, Inc., Campaign Monitor Europe UK Ltd., and Selligent Holdings Limited for aggregate consideration of up to $325 million (closed 2025-11-24).

“The transactions contemplated by the Purchase Agreement were completed on November 24, 2025 (the “Closing”), at which time Zeta acquired the Sellers’ enterprise business (the “Marigold Enterprise Business”), including all of the equity interests of certain subsidiaries of the Sellers engaged in the enterprise business, in exchange for aggregate consideration of up to $325 million, subject to customary adjustments.”

NPK International Inc. completed an acquisition involving shareholders of Grassform for £35.2 ($46.4) million satisfied in cash at closing (closed 2025-11-24).

“of Grassform (the “Sellers”). Under the terms of the Share Purchase Agreement, the total consideration payable by NPK Holdings to the Sellers consisted of a payment of £35.2 ($46.4) million satisfied in cash at closing, subject to customary post-closing adjustments pursuant to completion accounts and certain other adjustment mechanisms. Additional”

SITE Centers Corp. completed a disposition involving B33 Nassau Park Pavilion III LLC for approximately $137.6 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits (closed 2025-11-21).

“Also on November 21, 2025, a subsidiary of the Company completed the previously announced sale of its interests in Nassau Park Pavilion (Princeton, New Jersey) to B33 Nassau Park Pavilion III LLC for an aggregate price of approximately $137.6 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits.”

SITE Centers Corp. completed a disposition involving affiliates of Haverford Retail Partners for $126.0 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits (closed 2025-11-21).

“On November 21, 2025, subsidiaries of SITE Centers Corp. (the “Company”) completed the previously announced sale of their interests in East Hanover Plaza (East Hanover, NJ), Southmont Plaza (Easton, PA) and Stow Community Center (Stow, OH) to affiliates of Haverford Retail Partners for an aggregate price of $126.0 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits.”

XOMA Royalty Corp completed an acquisition involving LAVA Therapeutics N.V. (closed 2025-11-20).

“XOMA and LAVA effectuated the Post-Offer Reorganization, which became effective on November 20, 2025.”

ClearPoint Neuro, Inc. completed an acquisition involving IRRAS Holdings, Inc. for $5,000,000 in cash and 1,325,000 shares of Company common stock (closed 2025-11-20).

“the “Merger”), with the Second Merger Sub surviving the Second Merger. Merger Consideration Pursuant to the Merger Agreement, the Company delivered closing consideration of $5,000,000 in cash and 1,325,000 shares of Company common stock to IRRAS shareholders (the “Closing Shares”). Earnout Consideration As additional consideration for IRRAS’ stockholders, the”

CKX LANDS, INC. completed a disposition involving Southern Pine Plantations of Georgia, Inc. for $8,618,021.70 (closed 2025-11-18).

“Davis, Natchitoches, Rapides and Sabine Parishes of the State of Louisiana (the “ Transaction ”). The purchase price, as adjusted pursuant to the terms of the Agreement, was $8,618,021.70, and was paid in cash. Pursuant to the terms of the Agreement, the parties excluded from the Transaction certain portions of the Property (as defined in the Agreement) and the”

STRATUS PROPERTIES INC completed a disposition involving Scripps CMH LLC, a Delaware limited liability company, as to an undivided 70.538% interest, and Lantana SRB LLC, a Wyoming limited liability company, as to an undivided 29.462% interest, as tenants-in-common (collectively, Purchaser) for $57.5 million in cash (closed 2025-11-14).

“On November 14, 2025, Lantana Place, L.L.C. (Seller), a Texas limited liability company and a wholly-owned subsidiary of Stratus Properties Inc. (Stratus), completed the previously disclosed disposition of the real and personal property associated with the retail component of Lantana Place (Lantana Place – Retail), for $57.5 million in cash to Scripps CMH LLC, a Delaware limited liability company, as to an undivided 70.538% interest, and Lantana SRB LLC, a Wyoming limited liability company, as to an undivided 29.462% interest, as tenants-in-common (collectively, Purchaser).”

Go Go Buyers, Inc. underwent a change of control involving Qiubing Xu (closed 2025-09-25).

“On August 20, 2025, Arturas Saladzius, the previous majority shareholder of the Company, entered into a stock purchase agreement (the “Agreement”) for the sale of 3,000,000 shares of Common Stock of the Company, to Qiubing Xu. The Agreement closed on September 25, 2025.”

HARROW, INC. completed an acquisition involving Melt Pharmaceuticals, Inc. for approximately $4.3 million in cash (closed 2025-11-17).

“in the Company’s Current Report on Form 8-K filed on September 26, 2025, which description is incorporated herein by reference. At closing, the Company paid approximately $4.3 million in cash as initial consideration for the remaining equity interests of Melt. The contingent regulatory and commercial milestone payments described in the Company’s September 26,”

Eton Pharmaceuticals, Inc. completed an acquisition involving Ipsen S.A. (closed 2024-12-19).

“on December 1 9, 2024, the Company completed its purchase (the “Acquisition”) of Increlex® (“Increlex”) from Ipsen S.A. (“Ipsen”).”

Informatica Inc. underwent a change of control involving Salesforce, Inc. for $25.00 per share in cash (closed 2025-11-18).

“f Merger (the “ Merger Agreement ”) with Salesforce, Inc., a Delaware corporation (“ Salesforce ”), and Phoenix I Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Salesforce (“ Merger Sub ”).”

USA Rare Earth, Inc. completed an acquisition involving Indian Ocean Rare Metals Pte Ltd for $100,000,000 in cash and 6.54 million shares of the Company’s common stock (closed 2025-11-18).

“and heavy rare earth permanent magnet metals and alloys at scale in its facility in Cheshire, U.K. Pursuant to the Acquisition Agreement, the purchase price paid by Buyer was $100,000,000 in cash and 6.54 million shares of the Company’s common stock (the “Acquisition Shares”), subject to the deposit of 1,010,782 shares of the Company’s common stock into escrow and”

Service Properties Trust completed a disposition for $23.5 million (closed 2025-11-13).

“On November 13, 2025, Service Properties Trust, or SVC, sold four hotels with a total of 459 keys located in three states for a combined sales price of $23.5 million, excluding closing costs, or the Last Closing”

Ondas Inc. completed an acquisition involving Sentry CS Ltd for $225,000,000 (closed 2025-11-17).

““Sellers”). In accordance with the terms of the Agreement, the Company acquired 100% of the issued and outstanding share capital of Sentry, for an aggregate purchase price of $225,000,000, including (i) $125,000,000 in cash, of which $117,500,000 was paid at closing and the remaining $7,500,000, shall be paid so that an amount of $2,500,000 shall be paid on each of”

Provident Bancorp, Inc. /MD/ underwent a change of control involving NB Bancorp, Inc. for either (i) 0.691 shares of NB Bancorp common stock or (ii) $13.00 in cash (closed 2025-11-17).

“greement”), dated as of June 5, 2025, by and among NB Bancorp, Inc. (“NB Bancorp”), Needham Bank, 1828 MS, Inc., Provident Bancorp, Inc.”

SOUNDHOUND AI, INC. completed an acquisition involving Interactions Corporation (closed 2025-09-09).

“On September 9, 2025, SoundHound AI, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Original Form 8-K”) to report on the completion of the acquisition of all of the issued and outstanding shares of the capital stock of Interactions Corporation (“Interactions”), a Delaware corporation, pursuant to the certain Agreement and Plan of Merger (the “Merger Agreement”) dated as of September 3, 2025.”

Exousia Bio, Inc. completed an acquisition involving Exousia Ai, Inc. for 62,223,000 shares of Company common stock (closed 2025-11-17).

“of the issued and outstanding capital stock of Exousia Ai, with Exousia Ai becoming the Company’s wholly-owned subsidiary, in consideration of the Company’s issuing a total of 62,223,000 shares of Company common stock (the “Acquisition Shares” ) to the shareholders of Exousia Ai. On November 17, 2025, the parties closed the Reorganization Agreement, such that”

NB Bancorp, Inc. completed an acquisition involving Provident Bancorp, Inc. for 0.691 shares of Needham common stock per share or $13.00 per share in cash (closed 2025-11-15).

“f Provident Bancorp, Inc. (“Provident”) and BankProv, a wholly owned subsidiary of Provident.”

ONTO INNOVATION INC. completed an acquisition involving Semilab International Zrt. for $432,310,000 in cash and 641,771 shares of common stock (closed 2025-11-17).

“On November 17, 2025, Onto Innovation Inc. (the “Company”) completed the previously announced acquisition of Semilab USA LLC (“Semilab USA”), pursuant to the Equity Purchase Agreement (the “Purchase Agreement”), dated as of June 27, 2025, by and among the Company, Semilab International Zrt. (the “Seller”), Semilab Zrt. and Semilab USA, as amended by the Amendment to Equity Purchase Agreement, dated October 9, 2025. As previously disclosed, pursuant the Purchase Agreement, the Company acquired all of the outstanding membership interests of Semilab USA from the Seller for $432,310,000 in cash (subject to certain customary purchase price adjustments) and 641,771 shares of the Company’s common stock, par value $0.001 per share (the foregoing transactions, the “Semilab USA Acquisition”).”

IGC Pharma, Inc. completed a disposition involving Wellness Essentials Northwest LLC for fair value of approximately $2.7 million (closed 2025-11-13).

“On November 13, 2025, the closing conditions were satisfied and the transactions under the Sale Agreement were consummated for a fair value of approximately $2.7 million.”

Epsilon Energy Ltd. completed an acquisition involving Yorktown Energy Partners XI, L.P. for issuance of 90,117 Common Shares (closed 2025-11-14).

“closing was the issuance of 5,591,372 of the Company’s common shares (the “ Common Shares ”). The purchase price for the Peak BLM interests paid at closing was the issuance of 90,117 Common Shares. Following the Closing Date, up to 2,500,000 additional Common Shares or $6,500,000 in cash, is required to be issued or paid based on the timing of certain”

Epsilon Energy Ltd. completed an acquisition involving Peak Exploration & Production, LLC for issuance of 5,591,372 of the Company’s common shares (closed 2025-11-14).

“Closing Date, the Company consummated the transactions contemplated by the Purchase Agreements. The purchase price for the Peak E&P Interests paid at closing was the issuance of 5,591,372 of the Company’s common shares (the “ Common Shares ”). The purchase price for the Peak BLM interests paid at closing was the issuance of 90,117 Common Shares. Following the”

Elme Communities completed a disposition involving CEVF VI Capitol Holdings, LLC and CEVF VI Co-Invest I Venture, LLC for $1.606 billion in cash (closed 2025-11-12).

“Parties are affiliates of Cortland Partners, LLC. Pursuant to the Purchase Agreement, Buyer acquired all of the equity interests of Echo Sub, for an aggregate purchase price of $1.606 billion in cash, subject to customary adjustments (the “Portfolio Sale Transaction”). hase Agreement, Buyer acquired all of the equity interests of Echo Sub, for an aggregate purchase”

Decoy Therapeutics Inc. completed an acquisition involving Decoy Therapeutics for 877.709 shares of Series A Non-Voting Convertible Preferred Stock and 796.306 shares of Series B Non-Voting Convertible Preferred Stock (closed 2025-11-12).

“with and into Merger Sub I (the “Merger”), resulting in the Decoy business becoming a wholly owned subsidiary of the Company. In connection with the Merger, the Company issued 877.709 shares of Series A Non-Voting Convertible Preferred Stock (the "Series A Stock") and 796.306 shares of Series B Non-Voting Convertible Preferred Stock (the "Series B Stock") to”

CIM Opportunity Zone Fund, L.P. completed a disposition involving WEPCO Holdings for $1.3 billion.

“The total aggregate value of the equity interests contributed by the Fund to WEPCO (whether directly or through COZ) as a part of the Phase 1 Contribution Transactions was $1.3 billion, based on net asset values as of March 31, 2025. Following the Phase 1 Contribution Transactions, COZ was a wholly-owned subsidiary of the Fund, and the Fund and COZ were the”

Metsera, Inc. underwent a change of control involving Pfizer Inc. for $65.60 in cash, without interest, plus one contractual contingent value right (CVR) per share (closed 2025-11-13).

“who have validly exercised their statutory rights of appraisal under the Delaware General Corporation Law, as amended (the “DGCL”), was converted into the right to receive (A) $65.60 (the “Closing Amount”) in cash, without interest and subject to any required withholding of taxes, plus (B) one contractual contingent value right (a “CVR”) per share of Company”

Sentinel Holdings Ltd. completed an acquisition involving Opsec Specialized Protections, Inc. for $650,000 cash plus potential performance bonus of $150,000 and consulting agreement (closed 2025-10-16).

“the same level of income per month or more than they provided at closing, the Company will pay the Seller an additional Performance Bonus of One Hundred Fifty Thousand Dollars ($150,000.00). Total revenues for the month of September, 2025, from service contracts, the month proceeding the closing, totaled approximately $799,000, and cash expenses for the month”

CREATIVE REALITIES, INC. completed an acquisition involving Cineplex Entertainment Limited Partnership for approximately CAD$70,000,000 (closed 2025-11-07).

“Company (indirectly through 1001372953 Ontario Inc.) acquired ownership of all of the issued and outstanding capital shares of DDC for a total purchase price of approximately CAD$70,000,000, subject to customary purchase price adjustments (the “Purchase Price”). The Company used proceeds of the Offering, the Term Loan, the Revolver to pay the Purchase Price, repay all”

Phreesia, Inc. completed an acquisition involving AccessOne Parent Holdings, Inc. for approximately $163 million in cash (closed 2025-11-12).

“above is incorporated by reference into this Item 2.01. In accordance with the Merger Agreement, AccessOne's equityholders received consideration transferred of approximately $163 million in cash, subject to certain customary purchase price adjustments set forth in the Merger Agreement. The purchase price was funded by approximately (i) $107 million of net”

XTI Aerospace, Inc. completed an acquisition involving Drone Nerds, LLC and Anzu Robotics, LLC for $16,727,356.00 in cash, a promissory note in the original principal amount of $10,976,284.58, and 6,002,610 Class B Units with a fair market value of $8,955,894 (closed 2025-11-10).

“company as part of a reorganization for tax purposes. Pursuant to the DN Purchase Agreement, in exchange for the Drone Nerds Interests, XTI Drones Holdings (i) paid DN Seller $16,727,356.00 in cash in exchange for 46% of the Drone Nerds Interests, (ii) issued DN Seller a promissory note in the original principal amount of $10,976,284.58 (the “DN Note”) in exchange”

Medalist Diversified, Inc. completed a disposition involving MDRR XXV DST 1 for $14,554,504 (closed 2025-11-07).

“foot, single story building on 3.498 acres of land located at 312 E. 9 Mile Road, Pensacola, Florida (the “Tesla Property”) to the DST in exchange for total consideration of $14,554,504, as described in more detail below, which was based on the price paid by the Company to acquire the Property on July 18, 2025. The Contribution Agreement contains representations,”

Keenova Therapeutics plc completed a disposition for $763 million (closed 2025-11-10).

“thereto, certifying (among other things) that such Record Holder or Street Name Holder (as the case may be) is not a Qualified Shareholder. · The “Par Health Value” is $763 million, the value ascribed by the Board to Par Health before the Effective Time for the purposes of determining the Per Share Cash Amount and the Per Share Excess Cash Amount (if any)”

Ranger Energy Services, Inc. completed an acquisition involving American Well Holdings, LLC for approximately $90.5 million (closed 2025-11-07).

“supporting equipment primarily within the Permian Basin. Also on November 7, 2025, the Company completed the AWS Acquisition. The estimated purchase price was approximately $90.5 million, subject to certain adjustments set forth in the Purchase Agreement, and includes $60.5 million in cash and 1,998,401 shares of Class A Common Stock. Pursuant to the Purchase”

Damora Therapeutics, Inc. completed an acquisition involving Damora Therapeutics, Inc. (closed 2025-11-10).

“On November 10, 2025, the Company completed its business combination with Damora.”

Braemar Hotels & Resorts Inc. completed a disposition involving Block Nine Owner, LLC for $115 million in cash (closed 2025-11-06).

“On November 6, 2025, Ashford San Francisco II LP and Ashford TRS SF LLC (together “Seller”), indirect subsidiaries of Braemar Hotels & Resorts Inc. (the “ Company ”), completed the sale of The Clancy (the “ Hotel ”) pursuant to an Agreement of Purchase and Sale, dated as of October 6, 2025, by and among Seller and Block Nine Owner, LLC, as purchaser, for $115 million in cash, subject to customary pro-rations and adjustments.”

Biofrontera Inc. completed a disposition involving Pelthos Therapeutics Inc. for maximum of $10,000,000 (closed 2025-11-06).

“Capitalized terms used below that are not defined herein shall have the meanings ascribed to such terms in the APA. The purchase price for the Acquired Assets is a maximum of $10,000,000, payable as follows: 1) $3,000,000 in cash, paid on the Closing Date; 2) Subject to availability of certain commercial quantities of the Product and other terms and conditions of”

Capstone Holding Corp. completed an acquisition involving D22L, Inc., David Clary, and Stuart Powell for aggregate purchase price of the Holdings Membership Interests is (i) $2,625,000 in cash, subject to adjustment set forth in Section 2.6 of the Purchase Agreemen (closed 2025-08-22).

“of the Purchase Agreement previously filed in the current report on Form 8-K dated August 18, 2025. The aggregate purchase price of the Holdings Membership Interests is (i) $2,625,000 in cash, subject to adjustment set forth in Section 2.6 of the Purchase Agreement, plus (ii) a seller note in the original principal amount of $1,250,000, plus (iii) the amount”

PLAINS ALL AMERICAN PIPELINE LP completed an acquisition involving a subsidiary of Ares Management LLC for approximately $1.33 billion, inclusive of approximately $500 million of debt under the EPIC Term Loan, plus potential earnout of up to approximately $157 millio (closed 2025-11-01).

“Effective November 1, 2025, in a separate transaction from the EPIC 55% Transaction, Buyer also completed the purchase of the remaining 45% equity interest in EPIC Crude Holdings and the remaining 45% of the membership interests in EPIC GP from a subsidiary of Ares Management LLC (the “Ares Seller”) pursuant to that certain definitive Equity Purchase Agreement (the “EPA”) among Buyer and the Ares Seller, for a purchase price of approximately $1.33 billion, inclusive of approximately $500 million of debt under the EPIC Term Loan (as defined below) (the “EPIC 45% Transaction,” and, together with the EPIC 55% Transaction, the “Transactions”).”

PLAINS ALL AMERICAN PIPELINE LP completed an acquisition involving subsidiaries of Diamondback Energy, Inc. and Kinetik Holdings Inc. for approximately $1.57 billion, inclusive of approximately $600 million of debt under the EPIC Term Loan, plus potential earnout of approximately $193 million (closed 2025-10-31).

“On October 31, 2025, pursuant to that certain definitive Purchase and Sale Agreement (the “PSA”) entered into on August 30, 2025 by and among a wholly-owned subsidiary (the “Buyer”) of Plains All American Pipeline, L.P. (“PAA” or the “Registrant”), and subsidiaries of Diamondback Energy, Inc. and Kinetik Holdings Inc. (collectively, the “Sellers”), Buyer completed the purchase from Sellers of an aggregate 55% non-operated equity interest in EPIC Crude Holdings, LP (“EPIC Crude Holdings”), the entity that owns and operates the EPIC Crude Oil Pipeline (the “EPIC Pipeline”), and an aggregate 55% of the membership interests in EPIC Crude Holdings GP, LLC (“EPIC GP”), the general partner of EPIC Crude Holdings, for a purchase price of approximately $1.57 billion, inclusive of approximately $600 million of debt under the EPIC Term Loan (as defined below) (the “EPIC 55% Transaction”).”

CURIS INC completed a disposition involving Royalty Pharma plc for $125,000,000 (closed 2025-11-06).

“On November 6, 2025 (the “Closing Date”), the Company completed its sale of the Erivedge Business.”

HARLEY-DAVIDSON CUSTOMER FUNDING CORP. completed a disposition involving KKR Morrow Trust and HDL Trust for purchase price of $4.06 billion (closed 2025-11-06).

“Harley-Davidson Credit Corp. (the “Sponsor”), a Nevada corporation and wholly owned subsidiary of the Company, completed the previously announced sale of a portion of the Sponsor’s motorcycle promissory notes and security agreements portfolio to KKR Morrow Trust, a Delaware statutory trust (“KKR Trust”) and HDL Trust, as assignee of Cavendish, LLC, a Delaware limited liability company (together with KKR Trust, the “Purchasers”), for a purchase price of $4.06 billion.”

HARLEY-DAVIDSON CUSTOMER FUNDING CORP. completed a disposition involving KKR Morrow Trust and HDL Trust as assignee of Cavendish, LLC for $4.06 billion (closed 2025-11-06).

“Harley-Davidson Credit Corp. (the “Sponsor”), a Nevada corporation and wholly owned subsidiary of the Company, completed the previously announced sale of a portion of the Sponsor’s motorcycle promissory notes and security agreements portfolio to KKR Morrow Trust, a Delaware statutory trust (“KKR Trust”) and HDL Trust, as assignee of Cavendish, LLC, a Delaware limited liability company (together with KKR Trust, the “Purchasers”), for a purchase price of $4.06 billion.”

HARLEY-DAVIDSON CUSTOMER FUNDING CORP. completed a disposition involving KKR Morrow Trust and HDL Trust, as assignee of Cavendish, LLC for $4.06 billion.

“Harley-Davidson Credit Corp. (the “Sponsor”), a Nevada corporation and wholly owned subsidiary of the Company, completed the previously announced sale of a portion of the Sponsor’s motorcycle promissory notes and security agreements portfolio to KKR Morrow Trust, a Delaware statutory trust (“KKR Trust”) and HDL Trust, as assignee of Cavendish, LLC, a Delaware limited liability company (together with KKR Trust, the “Purchasers”), for a purchase price of $4.06 billion.”

HARLEY-DAVIDSON CUSTOMER FUNDING CORP. completed a disposition involving KKR Morrow Trust, a Delaware statutory trust and HDL Trust, as assignee of Cavendish, LLC for $4.06 billion.

“Harley-Davidson Credit Corp. (the “Sponsor”), a Nevada corporation and wholly owned subsidiary of the Company, completed the previously announced sale of a portion of the Sponsor’s motorcycle promissory notes and security agreements portfolio to KKR Morrow Trust, a Delaware statutory trust (“KKR Trust”) and HDL Trust, as assignee of Cavendish, LLC, a Delaware limited liability company (together with KKR Trust, the “Purchasers”), for a purchase price of $4.06 billion.”

HARLEY-DAVIDSON CUSTOMER FUNDING CORP. completed a disposition involving KKR Morrow Trust and HDL Trust, as assignee of Cavendish, LLC for $4.06 billion.

“Harley-Davidson Credit Corp. (the “Sponsor”), a Nevada corporation and wholly owned subsidiary of the Company, completed the previously announced sale of a portion of the Sponsor’s motorcycle promissory notes and security agreements portfolio to KKR Morrow Trust, a Delaware statutory trust (“KKR Trust”) and HDL Trust, as assignee of Cavendish, LLC, a Delaware limited liability company (together with KKR Trust, the “Purchasers”), for a purchase price of $4.06 billion.”

HARLEY-DAVIDSON CUSTOMER FUNDING CORP. completed a disposition involving KKR Morrow Trust and HDL Trust, as assignee of Cavendish, LLC for $4.06 billion (closed 2025-11-06).

“Harley-Davidson Credit Corp. (the "Sponsor"), a Nevada corporation and wholly owned subsidiary of the Company, completed the previously announced sale of a portion of the Sponsor's motorcycle promissory notes and security agreements portfolio to KKR Morrow Trust, a Delaware statutory trust ("KKR Trust") and HDL Trust, as assignee of Cavendish, LLC, a Delaware limited liability company (together with KKR Trust, the "Purchasers"), for a purchase price of $4.06 billion.”

MRC GLOBAL INC. underwent a change of control involving DNOW Inc. for 0.9489 shares of DNOW common stock (closed 2025-11-06).

“certain exceptions: • each eligible share of MRC Global common stock, par value $0.01 per share (“MRC Global Common Stock”) was converted automatically into the right to receive 0.9489 shares of DNOW common stock, par value $0.01 per share (“DNOW Common Stock”) (the “Merger Consideration”), with cash paid in lieu of the issuance of fractional shares; • each”

PLAINS GP HOLDINGS LP completed an acquisition involving a subsidiary of Ares Management LLC for approximately $1.33 billion (closed 2025-11-01).

“Effective November 1, 2025, in a separate transaction from the EPIC 55% Transaction, Buyer also completed the purchase of the remaining 45% equity interest in EPIC Crude Holdings and the remaining 45% of the membership interests in EPIC GP from a subsidiary of Ares Management LLC (the “Ares Seller”) pursuant to that certain definitive Equity Purchase Agreement (the “EPA”) among Buyer and the Ares Seller, for a purchase price of approximately $1.33 billion, inclusive of approximately $500 million of debt under the EPIC Term Loan (as defined below) (the “EPIC 45% Transaction”, and, together with the EPIC 55% Transaction, the “Transactions”).”

PLAINS GP HOLDINGS LP completed an acquisition involving subsidiaries of Diamondback Energy, Inc. and Kinetik Holdings Inc. for approximately $1.57 billion (closed 2025-10-31).

“On October 31, 2025, pursuant to that certain definitive Purchase and Sale Agreement (the “PSA”) entered into on August 30, 2025 by and among a wholly-owned subsidiary (the “Buyer”) of Plains All American Pipeline, L.P. (“PAA”), a subsidiary of Plains GP Holdings L.P. (the “Registrant”), and subsidiaries of Diamondback Energy, Inc. and Kinetik Holdings Inc. (collectively, the “Sellers”), Buyer completed the purchase from Sellers of an aggregate 55% non-operated equity interest in EPIC Crude Holdings, LP (“EPIC Crude Holdings”), the entity that owns and operates the EPIC Crude Oil Pipeline (the “EPIC Pipeline”), and an aggregate 55% of the membership interests in EPIC Crude Holdings GP, LLC (“EPIC GP”), the general partner of EPIC Crude Holdings, for a purchase price of approximately $1.57 billion, inclusive of approximately $600 million of debt under the EPIC Term Loan (as defined below) (the “EPIC 55% Transaction”).”