SurfLifeSavingNewSouthWales3NarabangWayBelrose|POBox307BelroseNSW2085AustraliaT+61294718000F+61294718001Einfo@surflifesaving.com.auFundraisingAuthorityNo.CFN11033ABN:93827748379www.surflifesaving.com.au

Memorandum

To:AllSLSNSWClubsandMembers

From:SLSNSWCEOStevenPearceAFSM

Date:Friday7June2019

Pages:3

Subject:SLSNSWisseekingexpressionsofinterest(EOI)frommembersfortheSurfLifeSavingNSWInvestmentAdvisoryCommittee(IAC)MembershipBackgroundSLSNSWhasvariouscashholdingscurrentlyinvestedinshortandlongtermbankingdepositsinaccordancewiththeSLSNSWInvestmentPolicy.Theorganizationalsohassomepropertyholdings,whichmakeupthetotalinvestmentportfolio.DevelopmentoftheSLSNSWinvestmentstrategyhasnowreachedapointwhereadedicatedadvisorycommitteeofresponsibilitytotheFinanceAudit&ComplianceCommittee(FACC),isnowrequiredtoadvisetheboardandaugmentinvestmentgovernance.Thiswillbothreducetheriskofpolicyandstrategylaggingbusinessneedsandenhanceinvestmentreturnsutilisedtosupportbusinessoperations.TheinvestmentportfolioofSLSNSWisconsideredrelativelysimpleincommercialterms,andwhilstrequiringappropriategovernance,doesnotwarrantsubstantialexpenditureonadviceandreportingatthisstageinitsdevelopment.Itdoeshoweverrequireastutefinancialstewardshipandoversightfromskilledinvestmentpractitioners.Researchshowsthatassetallocationanddiversificationwithinselectedassetallocationsareprimarydriversofmedium-longterminvestmentreturns.Forthisreason,theBoardofSurfLifeSavingNewSouthWaleshasapprovedthecreationofanInvestmentAdvisoryCommitteetomaximizeourinvestmentreturns.ExpressionsofInterestSurfLifeSavingNewSouthWalesseeksexpressionsofinterestfrommembersinterestedinjoiningtheSurfLifeSavingNewSouthWalesInvestmentAdvisoryCommittee(advisorysubcommitteeoftheSLSNSWBoard).Itisenvisagedthecommitteewillmeetapproximately2timesperyeartoprovidefeedbacktotheBoardIdeallyapplicantswillhavesubstantialfinancialandinvestmentmanagementexperience.TheaimofthecommitteewillbetoprovidefeedbacktotheSLSNSWBoardandFACContheperformanceandmakeupoftheorganization’sinvestmentportfolio,andtosuggestwaysperformancecanbeimprovedwithinSurfLifeSavingNewSouthWalesriskparametersInterestedmembersshouldsubmita1-pageapplicationtotheChiefExecutiveOfficeroutliningyourexperienceandskillyouwouldbringtothisCommittee.AllexpressionsofinterestaretobeforwardedtoStevenPearceviapa@surflifesaving.com.auandmustbesubmittedbyclosingdateThursday,25thJuly2019.FeelfreetocontacttheCEOifyouwishtodiscussthisopportunityfurther.Yourssincerely,StevenPearceAFSMChiefExecutiveOfficer

SurfLifeSavingNewSouthWales3NarabangWayBelrose|POBox307BelroseNSW2085AustraliaT+61294718000F+61294718001Einfo@surflifesaving.com.auFundraisingAuthorityNo.CFN11033ABN:93827748379www.surflifesaving.com.au

SLSNSWInvestmentAdvisoryCommittee(IAC)TermsofReference(ToR)

TheTermsofReferencesetsouttheworkingarrangementsfortheSLSNSWInvestmentAdvisoryCommittee(IAC)andestablishesitspurpose,Chairandmembership,meetingschedulesandlevelofadministrativesupport.Role/PurposeTheroleoftheSLSNSWInvestmentCommittee(IAC)willprovidestrategicadvicetotheSurfLifeSavingNSWBoardandFinanceAuditComplianceCommittee(FACC)ontheviability,opportunitiesandrisksassociatedwiththeSLSNSWinvestmentportfolio.TheIACsetsouttoachieveandprovideadviceon;

a) ToprovidestrategicadvicetotheBoardofSurfLifeSavingNewSouthWalesontheorganization’sinvestments.b) ToreviewandprovideappropriatefeedbacktotheBoardontheorganization’sInvestmentGovernance

FrameworkinaccordancewiththeInvestmentPolicy.c) Tomakeinvestmentrecommendations/suggestionstotheBoardinaccordancewiththeInvestmentGovernance

Frameworkandmonitorinvestmentperformance.d) Tomonitortheperformanceoftheinvestmentportfolioandsuggestchangesintheportfoliotoincreasereturns

withintheconfinesofSurfLifeSavingNewSouthWalesriskprofile.

Toprovidesuggestionsonanominatedinvestmentmanagerasandifrequired,shouldtheBoardrequest,andreviewtheirperformanceannually.TermThisToRiseffectivefrom1July2019andcontinuesuntilotherwiseadvised..MembershipTheIACwillcomprise:

a) TwomembersofFinanceAudit&ComplianceCommittee,oneofwhomwillbeChairandoneDeputyChair.Threeappointedmemberswithsubstantialfinancialandinvestmentmanagementexpertise,appointedbyBoard.

b) TheChiefFinancialOfficer(CFO).

TheChiefExecutiveOfficerordelegatemayattendmeetingsoftheInvestmentCommitteewithrightsofaudienceanddebate.RolesandResponsibilitiesTheIACisaccountablefor;

• Ensuringrigourandtruthtestingisappliedforalldecisions• Committingtoattendingallmeetings• Maintenanceofconfidentialityofdiscussionsanddocumentationsightedandobtained• Workingtogetherinacollaborativeandrespectfulmanner.

SurfLifeSavingNewSouthWales3NarabangWayBelrose|POBox307BelroseNSW2085AustraliaT+61294718000F+61294718001Einfo@surflifesaving.com.auFundraisingAuthorityNo.CFN11033ABN:93827748379www.surflifesaving.com.au

MeetingsAllmeetingswillbechairedbyadesignatedmemberoftheFinanceAudit&ComplianceCommitteeMeetingagendaandminuteswillbeprovidedbytheChair.Thiswillincludethepreparationofagendasandsupportingpapers.MeetingswillbeheldquarterlyatSLSNSWHeadOffice,Belrose,NSWAmendment,ModificationorVariationThisTermsofReferencemaybeamended,modifiedorvariedinwritingafterconsultationandagreementbytheIACmembers.ApprovalStevenPearceAFSMChiefExecutiveOfficerSLSNSW