20 years of expertise in this monopoly asset class High Yields (Commonwealth Bond rate +5% or better) A-AA Credit Rated assets Rising Capital Guarantees TEP gains carry Tax Credits at 30% and/or Tax Exemption (Tax Rulings in place) Unique Asset Class with 7-10 day full liquidity Uncorrelated asset to Fixed Interest Home Who We Are Our Team Privacy Policy Disclaimer Contact Call: +61 2 9968 3588

How does The Aussie TEP Fund get exclusive supply? What are TEP’s? Recycled old asset-based life policies How does The Aussie TEP Fund get exclusive supply? Supplier Subsidiary Recycling old Life Policies Home Who We Are Our Team Privacy Policy Disclaimer Contact Call: +61 2 9968 3588

Cash + Tax credits/exemption High Yields Pre-tax measurement (before fund expenses) Individual 7.30% pa Company 6.03% pa Tax Paying Super Fund 4.96% pa Yields are measured just like a franked dividend Life Company Tax Office 30% Tax Rebate / Offset Tax Exemption Cash yield from Cash + Tax credits/exemption = Pre-Tax Yield Home Who We Are Our Team Privacy Policy Disclaimer Contact Call: +61 2 9968 3588

Year 5 The fund will buy 5/10 year TEP’s each year. TEP’s are a growth only asset. No distributions are expected during the first 5 years of the fund. (No taxation events to report either). From Year 5 – Distributions are expected from year 5 as TEP’s mature. As TEP’s mature the Fund expects to pay quarterly distributions in cash that carry a 30% tax credit/tax exemption From Year 8 Distributions will include Tax Rebates/Offsets @30% plus Tax Exempt Income The ratio of the Tax Exempt gains will increase from year 9 onwards. Home Who We Are Our Team Privacy Policy Disclaimer Contact Call: +61 2 9968 3588

Fund Assets TEP’s are growth only The issuing life companies provide Capital Guarantees for their TEP payouts The capital guarantee is to pay the contracted sum on the maturity date of the TEP Historically the majority of TEP’s (i.e. AMP TEP’s) have been rated AA or A+ by Standard & Poors. Currently all TEP issuers have A to A+ credit rating. The Capital Guaranteed amounts increase annually for each TEP. Home Who We Are Our Team Privacy Policy Disclaimer Contact Call: +61 2 9968 3588

Liquidity The issuing Life Company of a TEP is required by law to be Buyer-of-Last-Resort --> a daily price is set TEPs may be cashed back to the Life company within 7-10 days The fund has other liquidity options in this asset class; Non-recourse loans from the Life Company against TEP value Establishing credit lines against the TEP values with banks (capped at 20%) Distribution Re-Investment Quarterly redemptions are offered to Unitholders There is an early redemption discount of 1.95% reducing to nil over 2 years Home Who We Are Our Team Privacy Policy Disclaimer Contact Call: +61 2 9968 3588

Risks Life company bonus rates may rise or fall- typically only small movements as rates are very stable. Concentration risk is managed by buying policies from 3 life companies Changes in Bond rates will move annual bonus rates in the same direction Taxation Risk is managed as the fund has ATO Private Binding Tax Rulings Competition risk is diminished by the exclusive Supply Agreement for TEPs and the barriers to entry for a new supplier Liquidity Risk is managed with many of the TEP product features and early exit discount to unitholders Home Who We Are Our Team Privacy Policy Disclaimer Contact Call: +61 2 9968 3588

Ongoing Fees Management fees are 0.80% pa Trustee fees are 0.05% pa (subject to some minima) Various Fund administration/accounting/actuary fees not expected to exceed 0.10%-0.15% pa (subject to some minima) Total MER expected 1.00% pa The Manager may get a performance fee if the Capital Guaranteed amount on a policy exceeds the forecast Capital Guaranteed amount at purchase. (Fee amount is 20% of the excess) Home Who We Are Our Team Privacy Policy Disclaimer Contact Call: +61 2 9968 3588

Why Invest ? Alternative Asset class- not correlated to Fixed Interest (Especially in a rising Interest rate cycle) Secure high yielding predictable performance Suits high tax-paying investors Rising Capital Guarantees on A to A+ assets Strong liquidity options Annuity cashflows with a 30% Tax Credit attached from year 5 Stable predictable returns Home Who We Are Our Team Privacy Policy Disclaimer Contact Call: +61 2 9968 3588