Merger Decision M.12287 TPG / Vitality / SoftBank / Cambridge Mobile Telematics

EUROPEAN COMMISSION DG Competition Case M.12287 - TPG / VITALITY / SOFTBANK / CAMBRIDGE MOBILE TELEMATICS Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) NON-OPPOSITION Date: 09/03/2026 In electronic form on the EUR-Lex website under document number 32026M12287

EUROPEAN COMMISSION Brussels, 9.3.2026 C(2026) 1706 final PUBLIC VERSION TPG Inc. 301 Commerce Street Suite 3300 Fort Worth TX 76102 United States SoftBank Vision Fund (AIV M2), L.P. 300 El Camino Real Menlo Park CA 94025 United States Vitality Group International, Inc. 120 South Riverside Suite 400 Chicago IL 60606 United States Subject: Case M.12287 – TPG / VITALITY / SOFTBANK / CAMBRIDGE MOBILE TELEMATICS Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 ( ) and Article 57 of the Agreement on the European Economic Area ( ) Dear Sir or Madam, (1) On 10 February 2026, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which TPG Inc. (“TPG”, the United States), Vitality Group International, Inc. () OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology of the TFEU will be used throughout this decision. () OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

(“Vitality”, the United States), controlled by Discovery Limited (South Africa) and SoftBank Vision Fund (AIV M2), L.P. (“SoftBank Investor”, the United Kingdom), controlled by SoftBank Group Corp (Japan) will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Cambridge Mobile Telematics Inc. (“CMT”, the United States) controlled by SoftBank Investor and Vitality, by way of purchase of shares. ( ) (2) The business activities of the undertakings concerned are the following: — TPG is a leading global alternative asset management firm that consists of six multi-product platforms: Capital, Growth, Impact, Real Estate, Market Solutions and TPG Angelo Gordon, — SoftBank Investor is a subsidiary of SoftBank Group Corp, a publicly traded global investor, with a varied portfolio of investments and subsidiaries focused on the technology sector, — Vitality is a global health and wellness company, — CMT provides telematic services to insurers, automakers, commercial mobility companies, and the public sector. (3) After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraphs 5(b) and 5(c) of the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004. () (4) For the reasons set out in the Notice on a simplified treatment, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement. For the Commission (Signed) Linsey MCCALLUM Director-General (acting) Directorate-General for Competition () OJ C, C/2026/1162, 24.02.2026. () OJ C 160, 5.5.2023, p. 1 (the ‘Notice on a simplified treatment’).