Mr. Michael Wagman reports

CLAIRVEST AGREES TO ACQUIRE MGM NORTHFIELD PARK

Clairvest Group Inc. and Clairvest Equity Partners VII (CEP VII), have entered into an agreement to acquire the operations of MGM Northfield Park from MGM Resorts International (NYSE: MGM) for $546-million (U.S.) in cash, subject to customary purchase price adjustments.

CVG, funds managed by it, and co-investors are expected to invest approximately $165-million (U.S.) in equity in connection with the transaction. CVG's direct exposure is expected to represent between 4 per cent and 5 per cent of book value based on current estimates. This transaction would represent Clairvest's 17th investment in the gaming sector, building on Clairvest's 25-year record of successful investing in the gaming industry.

Northfield Park is a regional racino in Northfield, Ohio, principally serving the Cleveland and Akron populations. The property encompasses 74,000 square feet of gaming space which includes approximately 1,600 video lottery terminals, a half-mile standard-bred (harness) racetrack, 10 food and beverage outlets, and an 1,820-seat entertainment venue.

"We are excited by the growth potential at Northfield Park and remain committed to offering a premier entertainment experience for the local community. As we look ahead, we intend to build on the strong foundation laid by MGM and guide the continued expansion of the racino in the coming years. We are looking forward to building a collaborative relationship with our new industry partner, VICI," said Michael Wagman, president and managing director of Clairvest.

The closing of the transaction is subject to the receipt of Ohio gaming and racing regulatory approvals, antitrust clearance and other customary closing conditions. The parties expect closing to occur in the first half of 2026.

Clairvest was represented by Chapman and Cutler LLP for corporate matters and Duane Morris LLP for regulatory matters.

About Clairvest Group Inc.

Clairvest's mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with over $4.6-billion of capital under management. Clairvest invests its own capital and that of third parties through the Clairvest Equity Partners limited partnerships in owner-led businesses. Under the current management team, Clairvest has initiated investments in 70 different platform companies and generated top-quartile performance over an extended period.

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