Abry Partners VII, LP

Searchlight Capital Partners - Additional interest in KORE Group Holdings Inc.

On 27 February 2026, KONA Parent, L.P. (KONA Parent), Kona Merger Sub Co. (KONA Merger Sub), a wholly owned subsidiary of KONA Parent, and Kore Group Holdings, Inc. (KORE) entered into an Agreement and Plan of Merger pursuant to which KONA Merger Sub will merge with and into KORE with KORE surviving the merger as a wholly owned subsidiary of KONA Parent (the Acquisition). Each share of KORE common stock outstanding at the time of closing will convert to the right to receive $9.25 per share. The Acquisition is valued at an enterprise value of approximately USD$726 million, including debt. As a result of the Acquisition, funds managed by Searchlight Capital Partners (Searchlight) will hold an interest of approximately 68.7% in and indirectly acquire sole control of KORE , while funds managed by Abry Partners (Abry) will continue to hold a non-controlling minority interest of approximately 21.2%. Searchlight, which manages Searchlight Capital IV LP, is an investment firm dedicated to identifying global investment opportunities in both private equity and debt, in sectors such as communications, media and financial services, operating in North America and Europe. Abry, which manages ABRY Partners VII LP and ABRY Partners VII Co-Investment Fund LP, is an investment fund focused on middle market companies in the communications, media, information and business services industries across North America and Europe. Abry was founded in 1989 and is headquartered in Boston, Massachusetts (USA) with offices in Charlotte, North Carolina (USA) and London. KORE is a provider of Internet-of-Things connectivity to the internet and other IoT applications and solutions. Collectively these entities constitute the Parties, who expect to close the Acquisition in the 2nd or 3rd quarter of 2026.