Investment Team

Prepared by:

Matthew FarrState Manager Queensland & Senior Private Client AdviserPh 07 3295 2621

[email protected]

David McNameeDealers Associate/Trainee AdviserPh 07 3295 [email protected]

Bell Potter Securities Limited A Licensed Securities Dealer AFS LICENCE 243480 ABN 25 006 390 772Level 28, Riverside Centre, 123 Eagle StreetBRISBANE QLD 4000

AN INDIVIDUALLY TAILORED INVESTMENT SOLUTION.

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

Founded in 1970 by Colin Bell, Bell Potter has grown to a total staff of 600 and operates across thirteen offices in Australia and has offices in London and Hong Kong.

Bell Potter is a part of the Bell Financial Group of companies (ASX:BFG).

CONTENTS

ABOUT OUR TEAM 3WHY BELL POTTER? 5SOME DIFFERENT OPTIONS FOR YOU 7 - DOMESTIC EQUITIES 7 - INTERNATIONAL EQUITIES 7 - BELL GLOBAL EQUITIES FUND 8 - PORTFOLIO LENDING 8 - TECHNICAL FINANCIAL ADVICE 9 - NOT-FOR-PROFIT ORGANISATIONS 9 - ACCESS TO CORPORATE OPPORTUNITIES 10

3AN INDIVIDUALLY TAILORED INVESTMENT SOLUTION.

About our team INVESTMENT ADVICE Matthew Farr - State Manager Queensland & Senior Private Client

Adviser Matthew has been working in the finance industry for almost 30 years, starting as a Trading Floor Operator in October 1986. In 1991, Matthew joined JB Were as a Private Client Adviser, in 2000 he joined Salomon Smith Barney Citigroup as a Retail Adviser, and in 2001 he was appointed to the role of Branch Manager of the Brisbane office, whilst also retaining his client relationships.

He subsequently joined Bell Potter Securities in 2011 as the State Manager for Queensland. In this role, Matthew advises high net worth clients on all aspects of their financial affairs.

He holds a Bachelor of Economics from the University of Queensland, has completed his Series 7 US Broker Registration, is Level 1 and 2 derivatives accredited and has fulfilled all regulatory requirements to hold the position of a Responsible Executive as determined by ASIC.

Matthew provides professional, customised advice regarding equity investments, specialising in portfolio management and stock selection.

David McNamee - Dealers Associate/ Trainee AdviserDavid joined Bell Potter Securities in January 2014 as a Trainee Dealers Associate and in March 2015 became a Trainee Adviser. David holds a Bachelor of Economics from the University of Queensland, majoring in Finance and International Trade. He has completed Tier 1 in securities & managed investments and superannuation at Deakin University.

David previously held positions with the Financial Management Association of Australia in a marketing capacity and Allianz Global Assistance as a customer service administrator while undertaking his studies. In these roles, David was exposed to companies of varied sizes across industries including finance, insurance, health, property, transport and logistics.

David has a passion for creative technological ventures and has a strong understanding of the technology industry and associated social trends. He provides tailored professional advice and has a client-focused approach, centred on honest and open communication.

Together, Matthew and David provide services to private clients including:

� Stockbroking services

� Opportunities for participation in IPOs, placements and other corporate transactions

� Direct international equities and research, and

� Portfolio lending.

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We work alongside a group of experienced and professional individuals to provide holistic investment advice to our clients.

RESEARCH

Peter Quinton – Head of Research Services

Peter Quinton joined Bell Potter in 2000 as Head of Research Services. He has over 40 years’ experience in stockbroking, encompassing a number of senior management positions centred on writing and marketing reports on investment strategy and asset allocation.

In Peter’s career he has been Head of Research at Colonial Stockbroking and Director/Chief Investment Strategist at ABN AMRO after the merger with BZW. Prior to this, Peter was Director/Chief Investment Strategist at ANZ Securities for six years where he regularly attained fifth or sixth place for investment strategy advice in institutional surveys.

In the 1980’s, Peter was a Director/Partner at Roach & Co, occupying the positions of General Manager, Institutions and Director of Research. In 1987, the year of the share market crash, he won the highest ranking for an Australian Strategist in an international survey.

Peter is a Senior Fellow of The Financial Services Institute of Australasia and an Affiliate of the Australian Stock Exchange. He is a Bachelor of Commerce (University of Melbourne) and holds a post-graduate degree in management.

FIXED INCOME

Barry Ziegler – Head of Retail Fixed Income

Barry has had over 33 years’ experience in fixed income markets in Australia. He has worked at many organizations including ANZ Savings Bank; official money market dealer Short Term Discount Limited as a bond trader; and established the fixed income capabilities for the retail stockbroking division of Citibank, which has evolved into Morgan Stanley Smith Barney. Over 14 years, his roles have included fixed income portfolio advising, research analysis, bond trading and product development.

PORTFOLIO LENDING

Rowan Fell - Director of Investment Services

Rowan Fell joined Bell Potter Securities as a Director of Investment Services in 2005 to establish in-house Margin Lending and Cash facilities for clients of the firm. Rowan has worked in financial services since 1979, developing work experience in a broad range of activities, including senior management roles in Margin Lending and other investment services, equities research, portfolio lending, derivatives and quantitative analysis. Prior to commencing at Bell Potter Securities, Rowan was a partner at Goldman Sachs JB Were.

Rowan has Honours in Pure Mathematics from the Australian National University and is a Fellow of the Financial Services Institute of Australia.

EXCHANGE TRADED FUNDS

Nathan Umapathy - Specialist Exchange Traded Funds and Listed Investment Companies

Nathan joined Bell Potter in 2010 and currently works as an ETF/LIC Analyst – covering the entire Australian ETFS sector and 37 LICs – having previously worked with Peter Quinton as an Assistant Research Analyst. These sectors have been extremely active; Australian ETFs sector reached $15 billion at the end of 2014, and LICs raised a touch under $2 billion in calendar year 2014.

He holds a Bachelor of Commerce (Finance & Econometrics) from University of Melbourne.


Why Bell Potter?> We are Australia’s largest stockbroker that is locally owned and

managed

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

Founded in 1970 by Colin Bell, Bell Potter has grown to a total staff of 600 and operates across thirteen offices in Australia and has offices in London and Hong Kong.

Bell Potter is a part of the Bell Financial Group of companies (ASX:BFG) and is led by an experienced management team which has a substantial stake in the group.

We have a strong understanding of the needs of Australian investors and the nature of the Australian market because we are locally owned and managed.

> We offer a comprehensive range of servicesOur focus is to offer a comprehensive range of services to meet the needs of Australian investors.

Bell Potter’s product and service offering includes:

� Stockbroking

� Research

� Portfolio administration

� Cash management

� Margin lending

� Technical Financial Advice

� Superannuation

� Fixed income

� Derivatives

� Foreign exchange, and

� Corporate services.

> We provide the highest level of service and advice We have built a reputation for creating long term, trusting relationships with our clients centred on the delivery of quality advice and open communication.

Our team of Private Client Advisers work with our clients to understand their financial situation and investment objectives before they invest, and offer advice on a range of direct investment including:

� Australian listed shares

� International listed shares

� Equity options, warrants and futures (from accredited derivatives specialists), and

� Interest rate products.

Bell Potter clients have a strong understanding of their asset allocation through close communication with their adviser, tailored monthly reports, high-quality research and access to a private client access portal with live, comprehensive portfolio and market information.

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> We provide access to high quality research As a client-focused research house, the dedicated Bell Potter research team provide a broad, relevant and insightful research offering to the Australian market place. The objective of our research is to be timely and thought-provoking, and our quality in-depth investment ideas aim to add value to our clients’ portfolios.

Our overarching philosophy is to add value to and improve the wealth of our client base. We believe our commitment to quality research is the cornerstone to a successful broker-client relationship.

Our clients look to us to identify growth-orientated sector companies, and our passion for discovery continues to uncover new opportunities that are often overlooked or unrecognised by our competitors. In undertaking our comprehensive company research, our research analysts travel globally to seek out investment opportunities that we feel will further add value to our clients’ portfolios.

Our Research team of 14 Analysts in Sydney, Melbourne and Perth is one of the largest-resourced research commitments by an Australian broking firm.

As a Bell Potter client you have access to:

� Top ASX listed stock reports as well as an array of mid-cap, small and emerging company reports

� Quarterly & half yearly company reviews

� Sector analysis reports research

� Regular economic and market commentary

� Regular strategy updates

� In depth coverage of our preferred stocks, and

� Specialist research on exchange traded funds (ETFs), Listed Investment Companies (LICs) and hybrid issues.

Citi research

In 2014, Bell Potter and Citi Australia signed a memorandum of understanding (MoU), allowing us to provide our clients with access to Citi’s highly ranked global research platform and securities products. The products will include equity offerings, equity-linked (hybrid instruments) and certain fixed interest products.

Citi has global and highly-rated research teams in EMA, Asia and the America’s. Their Australian research team has 34 staff including 22 analysts. Citi Research focuses on delivering the highest quality company, sector, economic and geographic insights.

Our relationship with Citi further establishes our dedication to a strong, client-focused research offering that will add value to our clients’ portfolios.

> We offer our clients outstanding investment opportunitiesWe find quality stocks for our clients to build their portfolios and wealth.

Due to our strong retail network and corporate equity markets team, Bell Potter clients have access to a wide range of corporate offerings - such as IPOs, capital raisings and placements.

Our most recent corporate transactions include Medibank Private, IPH Limited, Spotless Group Holdings, Appen Holdings and Asaleo Care.


Some different options for you

Domestic EquitiesAt Bell Potter we have built a reputation for creating long term, trusting relationships with our clients centred on the delivery of quality advice, open and regular communication and attention to detail.

Our Advisers provide advice and execution services for clients looking to trade in securities and derivatives. Advisers have access to in-depth research and a full range of services and products including: margin lending, cash accounts, portfolio administration and personal superannuation.

Your Adviser works with you to understand your financial situation and investment objectives before you invest.

You can receive personal advice and a tailored portfolio structured around your financial and investment objectives.

Execution, clearing and settlement services are fast and efficient for listed securities on the Australian Securities Exchange (ASX) on behalf of clients. Bell Potter is also a participating member of the National Stock Exchange of Australia (NSX).

As a client, you can gain access to public equity offerings and other securities issues available through our corporate finance activities. If you are a wholesale client or sophisticated investor, you can also access placement issues handled by the firm. We work with you to understand your financial situation and investment objectives before you invest. You can receive personal advice and a tailored portfolio structured around your financial and investment objectives.

International Equities

Bell Potter’s international equities service enables you to efficiently trade securities listed on major exchanges around the globe.

Our international team provides direct access to equity markets including the United States, Canada, South Africa, all Asian countries, Europe, the United Kingdom, and New Zealand.

Features of our International Equities Stockbroking service include:

� Efficient execution - buying and selling of overseas securities

� Convenient settlement - Buy and sell orders settled in Australian dollars

� Dividends - All dividends can be converted and paid in Australian dollars

� Security - Your overseas holdings are held in fully disclosed custody accounts in the local markets in which you are investing

� Statements - Regular statements of holdings, transactions and dividends received along with any fees charged

� Stock transfers - Transfers of existing international holdings in and out of share trading accounts, and

� Fees and commissions - Competitive minimum commissions and fees depending on the market.

To offer you these services, Bell Potter has formed partnerships with some of the most highly regarded, long standing financial service companies around the world. For the North American, Canadian and Asian equities markets our overseas dealing and custodial agent is Pershing LLC, a subsidiary of Mellon Bank of New York.

We believe that Bell Potter Securities has the expertise and knowledge to provide you with comprehensive financial advice and services you need. We are pleased to present the following options for your consideration:

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Bell Global Equities Fund Bell Global Equities Fund (BGEF) is a Managed Fund which was established in 2007.

The BGEF invests in a globally diversified portfolio of equity securities listed on recognised international stock exchanges. The investment objective of the Fund is to outperform its benchmark, the MSCI World ex-Australia Index (in AUD) including reinvested dividends, over rolling 3-year periods.

It is structured as a registered managed investment scheme offered under a product disclosure statement (PDS).

Bell Asset Management Ltd is the Responsible Entity and manager of BGEF. The portfolio is managed by Ned Bell and his Melbourne based team of portfolio managers and analysts, who have been managing money under the current strategy for institutional clients since 2003.

If you would like to learn more about the BGEF, we would be happy to assist.

Portfolio LendingBell Potter Portfolio Lending is a margin lending product offered by Bell Potter Capital. Used as part of a comprehensive investment strategy, responsible gearing can significantly enhance your ability to create wealth through greater participation in the share market. Gearing has the potential to help you own a more diversified portfolio and may have tax advantages for certain investors.

We can help assess whether margin lending is the right financial tool for your requirements, which gearing strategy might best suit your investment objectives, and ensure that you understand the risk and benefits associated with margin lending.

Margin Lending For Wealthy Investors

At first glance, it may not be obvious that margin lend-ing can be a useful tool for wealthy investors – however margin lending can be useful in managing cash flow, while allowing you to make timely investment decisions. Once established, the Portfolio Lending facility can remain dormant until required. You can lodge shares as collateral, then drawn on the facility when required. Interest is payable only once the facility is drawn and for the term the funds remains drawn.

Detailed information about Bell Potter Portfolio Lending is available. A copy of our latest Portfolio Lending Application Booklet and Product Disclosure Statement, is available upon request.

Key Features

� No minimum credit limit for variable loans

� Borrow between 40% and 75% of the value of approved listed equities, as well as a range of managed funds

� Ability to write covered calls (using exchange traded options) to increase income

� Ability to pre-pay interest to provide certainty and potentially accelerate tax deductions

� Third party security acceptable

� Easy trading and settlement

� No establishment fees for accounts set up by individuals

� Access to professional service and support from your designated Account Manager

Some different options for you (cont.)


Not-for-Profit Organisations Bell Potter successfully advises trustees and custodians of charitable institutions and Not-for-Profit organisations on how to manage their investment portfolios. We offer an individually tailored service that can incorporate single or multiple asset classes depending on your needs.

Our team of investment professionals can work with your organisation to ensure all your needs are met - from portfolio construction and risk management to comprehensive, transparent portfolio administration and reporting.

Bell Potter has the expertise and knowledge to provide comprehensive financial advice and services to Not-for- Profit organisations.

Our clearly defined process incorporates:

� A comprehensive review, clarification and agreement of the organisation’s investment risk profile and objectives

� An audit of existing assets within the portfolio

� Creation of an appropriate investment strategy addressing the needs and requirements discovered in the review stage, and

� Implementation of the agreed investment strategy with regular review meetings at agreed intervals.

Key Features

� Australian equity specialists

� Extensive product range including international equities, fixed interest, foreign exchange, derivatives, cash account and portfolio administration service

� Individual portfolio construction advice

� Access to corporate issues on a best endeavours basis

� Portfolio administration and comprehensive quarterly reporting

� Online capability which allows you to monitor your portfolio and access our high quality research and extensive sharemarket data

Technical Financial Advice

Our team of technical financial advice experts offer comprehensive, individually tailored strategies to help you achieve your investment and retirement goals.

We can help you create an investment strategy that is uniquely yours - the result is a plan which is truly customised, comprehensive and yet flexible.

A financial plan can help you:

� Identify your objectives - identify your financial and retirement goals and set the agenda for investment � Review your current position - ensure that your existing assets are structured appropriately and (if necessary)

make adjustments to build a solid foundation for future requirements � Review your superannuation - determine whether your current superannuation arrangements will meet your

retirement needs � Together with your adviser, choose appropriate investments - identify investment opportunities that will help

you reach your goals while remaining consistent with your investment approach, objectives and risk profile � Managed estate planning - plan for the accumulation, conservation and distribution of wealth in the manner

that most efficiently and effectively accomplishes your objectives

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As one of the largest private client stockbrokers in Australia, Bell Potter has access to a wide range of corporate offer-ings - such as IPOs, capital raisings and placements.

As a Bell Potter client you would have priority access to a significant number of new issues and public floats, on a best endeavours basis. Bell Potter also participates in non-prospectus issue placements and can make these available to sophisticated investors (appropriate sophisticated investor certification is required).

Bell Potter has built a dedicated and highly competent corporate finance team focused on resources, energy, mining services, life sciences and emerging industrial and financial companies

� Bell Potter have been early supporters of what have become substantial companies. � Our focus is to identify growth companies and growth sectors � We support our growth companies with active investor visitation programs and investor conferences. Over the past

18 months we have conducted over 100 corporate roadshows in Australia & offshore � In the last 5 years, our Corporate Finance has lead over 210 transactions valued in excess of A$2.5 billion.

Some recent transactions include:

Syndication through Citi Australia

Citi Australia (Citi) is a leading underwriter of equity and debt, with one of the largest institutional brokerage networks in Australia and the United States. Since the late 1980’s Citi has consistently been one of the top five brokers as measured by market share on the Australian Stock Exchange.

Through our memorandum of understanding (MoU) with Citi, Bell Potter clients benefit from Citi’s broad range of equity offerings.

Company IPO Bell Potter Role Offer Size

Medibank Private Limited (MPL) Co-Lead Manager $5.675 billion

IPH Limited (IPH) Joint Lead Manager $166 million

Spotless Group Holdings Limited (SPO) Co-Manager $995 million

Appen Holdings (APX) Lead Manager $15 million

Asaleo Care Limited (AHY) Co-Manager $657 million

SurfStitch Group Limited (SRF) Co-Lead Manager $83 million

Catapult Group International Ltd (CAT) Joint Lead Manager $12 million

Huon Aquaculture Group Limited (HUO) Co-Manager $133 million

Manalto Limited (MTL) Joint Lead Manager $6 million

Eclipx Group Limited (ECX) Co-Manager $254 million

MYOB Group Limited (MYO) Co-Manager $833.8 million

Access to Corporate Opportunities

Some different options for you (cont.)


Company IPO Bell Potter Role Offer Size

Medibank Private Limited (MPL) Co-Lead Manager $5.675 billion

IPH Limited (IPH) Joint Lead Manager $166 million

Spotless Group Holdings Limited (SPO) Co-Manager $995 million

Appen Holdings (APX) Lead Manager $15 million

Asaleo Care Limited (AHY) Co-Manager $657 million

SurfStitch Group Limited (SRF) Co-Lead Manager $83 million

Catapult Group International Ltd (CAT) Joint Lead Manager $12 million

Huon Aquaculture Group Limited (HUO) Co-Manager $133 million

Manalto Limited (MTL) Joint Lead Manager $6 million

Eclipx Group Limited (ECX) Co-Manager $254 million

MYOB Group Limited (MYO) Co-Manager $833.8 million

To find out more about how we can enhance your direct equities value proposition please contact us using the contact details below.

Regards,

Matthew Farr and David McNamee

Matthew Farr B.EconState Manager Queensland & Senior Private Client Adviser 07 3295 [email protected]

David McNamee B.EconDealers Associate/Trainee Adviser07 3295 [email protected]

Bell Potter Securities Limited

Level 28, Riverside Centre 123 Eagle Street Brisbane QLD 4000 Australia

GPO Box 658 Brisbane QLD 4001 Australia

Tel 1300 0 BELLS (1300 0 23557)Fax 07 3295 2688

www.bellpotter.com.auABN 25 006 390 772 AFS Licence No. 243 480

IMPORTANT DISCLAIMERThis is general investment advice only and does not constitute personal advice to any person.Because this document has been prepared without consideration of any specific client’s financial situation, particular needs and investment objec-tives (‘relevant personal circumstances’), a Bell Potter investment adviser (or the financial services licensee, or the representative of such licensee, who has provided you with this report by arrangement with Bell Potter) should be made aware of your relevant personal circumstances and consult-ed before any investment decision is made on the basis of this document.While this document is based on information from sources which are considered reliable, Bell Potter has not verified independently the informa-tion contained in the document and Bell Potter and its directors, employees and consultants do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate. Nor does Bell Potter accept any responsibility to inform you of any matter that subsequently comes to its notice, which may affect any of the information contained in this document and Bell Potter assumes no responsibility for updating any advice, views, opinions, or recommendations contained in this document or for correcting any error or omission which may become apparent after the document has been issued.Except insofar as liability under any statute cannot be excluded, Bell Potter and its directors, employees and consultants do not accept any liability (whether arising in contract, in tort or negligence or otherwise) for any error or omission in this document or for any resulting loss or damage (whether direct, indirect, consequential or otherwise) suffered by the recipient of this document or any other person.Disclosure of Interest: Bell Potter, its employees, consultants and its associates within the meaning of Chapter 7 of the Corporations Act 2001 may receive commissions, underwriting and management fees from transactions involving securities referred to in this document(which its representa-tives may directly share) and may from time to time hold interests in the securities referred to in this document. June 2015

Investment Team

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