PERSONAL DIVISION PRODUCT DISCLOSURE STATEMENT

PERSONAL DIVISION PRODUCT DISCLOSURE STATEMENT Date: Issued 27January 2015 Things you should know: This Product Disclosure Statement ( PDS ) is a summary of significant information and contains a number of references to important information called the Personal Division Incorporated Information. The Personal Division ( the Plan ) website is www.execsuper.com.au, however if you are a Personal Division member who was previously a member of a plan in the Employer Sponsored Division of the Fund you should use the websites and contact details of these plans accordingly. Refer to the Incorporated Information for these details; You should consider both the information in this PDS and the Personal Division Incorporated Information before making a decision about the product; This PDS and Personal Division Incorporated Information can be obtained on request by phoning (02) 9335 7852; The information provided in this PDS is general information only and does not take into account your personal financial situation or needs; and You should obtain financial advice tailored to your personal circumstances. Contents: Section 1: Section 2: Section 3: Section 4: Section 5: Section 6: Section 7: Section 8: Section 9: About The Executive Superannuation Fund (Personal Division) How super works Benefits of investing with The Executive Superannuation Fund (Personal Division) Risks of investing in super How we invest your money Fees and costs How super is taxed Insurance in your super How to open an account? Attached to this PDS is the Personal Division Application for Membership Form. The issuer and Trustee of The Executive Superannuation Fund (ABN: 60 998 717 367, RSE Registration R1001419, MySuper unique identifier: 60998717367002, USI: 60998717367001) is Equity Trustees Limited, ABN: 46 004 031 298, RSE Licence L0003094, Australian Financial Services Licence ( AFSL ) No: 240975, Address: GPO Box 2307 Melbourne VIC 3001. Ph: (03) 8623 5000, Fax: (03) 8623 5200. The Administrator of The Executive Superannuation Fund is KPMG Superannuation Services Pty Limited, ABN: 90 094 584 755, AFSL No: 241366, Address: PO Box 67, Australia Square NSW 1215. Ph: (02) 9335 7852. Email address: AU-FMNatSuperAdmin@kpmg.com.au Plan website: www.execsuper.com.au 1

Section 1: About The Executive Superannuation Fund (Personal Division) The Personal Division is a division in The Executive Superannuation Fund ( the Fund ). The Personal Division is referred to as a Plan in this PDS. The Fund was established by a trust deed dated 14 June 1976 and is designed to provide financial security for you in retirement and protection for both you and your dependants, in the event of your premature death or permanent disablement. The Fund has approximately $730 million of assets under management as at the preparation date of this PDS. The Fund is a corporate master trust which caters for different types of members and products including personal members who apply for membership, pension members and accumulation accounts for current and former employees 1 of: the Fund s current participating employers (ASC Pty Limited, ASC Shipbuilding Pty Limited, Atwood Oceanics Australia Pty Limited, FreshFood Management Services, FreshFood Holdings Australia Pty Limited, KPMG Australia, Rotric Holdings Pty Ltd); and former participating employers (Crowe Howath Australasia Ltd, formerly WHK Albury). The Fund also provides members with four investment options, including the Aggressive Option, Balanced Option (which is the investment strategy for the MySuper MyLife product), Conservative Option and Cash Option. This PDS relates only to accumulation accounts in the Plan for former employees transferred from another plan in the Employer Sponsored Members Division of the Fund as well as spouses and dependants who may apply to participate in the Personal Division. Current members of a plan in the Fund s Employer Sponsored Members Division should contact the Fund Administrator for the relevant product disclosure statement pertaining to their membership of the Fund prior to any transfer to the Personal Division. The Trustee is authorised by APRA to offer a MySuper Product from the Fund, called MySuper MyLife (Unique Identifier 60998717367002). If you do not choose an investment option when you join the Plan as a personal member or are automatically transferred to the Plan from the Employer Sponsored Members Division of the Fund without having previously chosen an investment option, any contributions will be invested in the Balanced Option (the investment strategy for MySuper MyLife). Information on the product dashboard for the MySuper MyLife product, trustee and executive remuneration and other information or documents we are required to disclose on the website is available from the Trustee s website at www.eqt.com.au/corporate-governance/eqt-rsedisclosures.aspx. The Trustee of the Fund is Equity Trustees Limited. The Fund is administered by KPMG Superannuation Services Pty Limited. Newport Investment Consulting (AFSL: 363233) provides investment management services to the Fund. Insurance cover is provided to eligible Plan members through TAL Life Limited (TAL). Section 2: How super works About superannuation Superannuation (super) is a means of saving for retirement on a regular basis, which is (in part) compulsory for most employees. It is a long-term investment. You usually can t access your super until you are aged between 55 and 60, but there are some special circumstances where you can withdraw it earlier than this. Tax concessions and other government benefits generally make it one of the best long-term investment vehicles. Contributions Most Australian employers are required by Government legislation to contribute 9.5% (increasing to 12% in the future) of an employee s ordinary time earnings to a superannuation fund nominated by the employee or, if an employee does not nominate a fund, to the employer s default fund. These compulsory contributions are referred to as Superannuation Guarantee ( SG ) contributions. You can also make additional contributions towards superannuation. There are different types of contributions available to a person including SG contributions, additional employer contributions (for example, salary sacrifice contributions), voluntary member contributions and government co-contributions. There are limitations on the contributions to superannuation. These limitations apply to all superannuation funds. Unless you are subject to an industrial award or agreement that states otherwise, you are entitled to select an alternative superannuation entity under the choice of fund laws. Where applicable, your employer will provide you with a Standard Choice Form upon commencing employment, or if you request one, and have not requested such a form in the previous 12 months. Therefore, it s important you take an interest in your super and help it grow into a healthy retirement nest egg. Further information about Choice of Fund is available from your employer or the Australian Taxation Office website (www.ato.gov.au). For further information about contributions, please refer to section 1, Part A of the Personal Division Incorporated Information. Withdrawals 1 References to former employees in this PDS and the Incorporated Information includes former partners of relevant participating employers 2

There are limitations on withdrawals from superannuation, applicable to all superannuation funds. You can access your superannuation savings once you retire on or after reaching your preservation age or in other circumstances permitted by law (for example, death, permanent incapacity and financial hardship), called conditions of release. The conditions of release for temporary residents vary from those applicable to Australian citizens, New Zealand citizens or permanent residents of Australia. There are certain circumstances in which superannuation benefits must be transferred by the Trustee to the Australian Taxation Office (for example, lost accounts of unidentifiable members or below a certain amount, unclaimed benefits on or after age 65 and unclaimed benefits of former temporary residents). For further information about withdrawals, please refer to section 1, Part B of the Personal Division Incorporated Information. General information about super is available from www.moneysmart.gov.au. For more information about how super works, refer to Section 1 of the Personal Division Incorporated Information available by visiting the Plan website at www.execsuper.com.au or by contacting the Fund Administrator on (02) 9335 7852. You should read this important information about how super works before making a decision. The information relating to benefits and features may change between the time you read this PDS and the day you acquire this product. Section 3: Benefits of investing with The Executive Superannuation Fund (Personal Division) The Personal Division is only available to: Former members of a plan in the Employer Sponsored Members Division within the Fund who have ceased employment with a former or current participating employer-sponsor; and Spouses and other dependants of persons who are current members of the Fund at the time a spouse or dependant applies for membership. A spouse of a Fund member includes a person legally married to a Fund member or a person who, although not legally married to the Fund member, lives with them on a bona fide domestic basis in a relationship as a couple, and a person with whom the member has a relationship that is registered under a State or Territory Law. A spouse may include a same-sex partner. The Plan includes a MySuper product (invested in the Balanced Option) for members who have not made an investment choice. Members of the Plan have an accumulation style account, which means any contributions made to the Plan accumulate over time with any investment earnings after taking into account any fees, costs or other charges (e.g. insurance premiums or taxes). The Plan invests your money. Your super will increase with positive investment returns and decrease if there are negative investment returns. You can choose how you would like your money invested from four investment options. Usually, you can transfer your money to a different investment option within the Plan or to another super fund at any time. There are no minimum contributions or investment amounts required, and the Plan is able to accept contributions from any employer. Eligible former members transferred into the Plan from some (but not all) plans in the Fund s Employer Sponsored Members Division may retain any cover for Death and Total and Permanent Disablement ( TPD ) they had at the date of transfer (subject to a reduction of any TPD cover amount after reaching age 60), provided cover has not ceased on or after that date refer to section 8 of this PDS for more information. Some (but not all) members of the Plan can also apply for Death only or Death and TPD insurance cover at competitive premium rates. When a member retires, or meets some other legislative condition for payment of their superannuation such as permanent incapacity, death or financial hardship, their account is payable in one or more lump sums or in the form of a pension. The Fund also offers standard account based and transition to retirement pensions. Information about the Fund s pension products is contained in the Pension Division Product Disclosure Statement ( Pension Division PDS ), available by visiting the Plan website at www.execsuper.com.au or on request from the Fund Administrator on (02) 9335 7852. You should consider the Pension Division PDS when deciding whether to acquire or continue to hold a pension product. You can transfer superannuation in or out of the Plan. No minimum withdrawal is required, unless you are transferring to another fund and the amount remaining in the Plan is less than $5,000. Other significant features and benefits of this product are: There are no entry or exit fees. Contribution splitting is allowed. Investment earnings are passed on to members after allowing for relevant fees, costs and taxes. We have an anti-detriment payment policy in relation to the payment of death benefits. We protect the privacy of personal information in accordance with our privacy policy. Binding death benefit nominations are available. Online benefit quotes and member detail updates are available through the Plan website. 3

The Fund is a Qualifying Recognised Overseas Pension Scheme for the receipt of UK pension benefits. For more information about the benefits and features of the Plan, refer to Section 1 of the Personal Division Incorporated Information available by visiting the Plan website at www.execsuper.com.au or by contacting the Fund Administrator on (02) 9335 7852. You should read this important information about the benefits and features of the Plan before making a decision. The information relating to how the benefits and features of the Plan may change between the time you read this PDS and the day you acquire this product. Section 4: Things you should know: Risks of investing in super All investments carry risk; Different investment strategies (options) may carry different levels of risk depending on the assets that make up the strategy; and Assets with the highest long-term returns (such as shares) may also carry the highest level of short-term risk. The significant risks associated with the Plan include market risk, investment risk, superannuation fund-specific risk, risk of changes to the legal environment and diversification risk. The Trustee seeks to minimise risks by taking into account the best interest of members at all times when making decisions about the Plan and maintaining a risk management and compliance framework in accordance with legislative requirements. The risk associated with any particular investment option will depend on the composition of the assets and underlying investments used in each investment option. Section 5 of this PDS contains the risk profile of the Plan s default investment option the Balanced Option. Information about the risk profile of the Aggressive, Conservative and Cash options is available in the Personal Division Incorporated Information. Other general risks relevant to the Plan are: The value of your investment will vary. The level of returns will vary, and future returns may differ from past returns. Returns are not guaranteed, and you may lose some of your money. Superannuation and taxation laws may change in the future. The amount of your future superannuation savings (including contributions and returns) may not be enough to provide adequately for your retirement. Your level of risk will vary depending on a range of factors including your age, investment timeframe, where other parts of your wealth are invested and your risk tolerance. For more information about risks including the risk profile of other investment options, refer to Section 2 of the Personal Division Incorporated Information available by visiting the Plan website at www.execsuper.com.au or by contacting the Fund Administrator on (02) 9335 7852. You should read this important information about risks before making a decision. The information relating to risks may change between the time you read this PDS and the day when you acquire this product. Section 5: How we invest your money Warning: You should consider the likely investment return, risks and your investment timeframe when choosing a MySuper product or an investment option. The Plan offers the following investment options: The Aggressive Option; The Balanced Option (the investment strategy for MySuper MyLife); The Conservative Option; and The Cash Option. If you apply for membership of the Plan and you do not make an investment choice your money will be invested in the Balanced Option, the default investment option. If you are transferred to the Plan from the Fund s Employer Sponsored Members Division and do no make an investment choice on or after joining the Plan, your money will be invested in the investment option(s) in which you were invested at the date of transfer to the Plan. 4

Suitability Investment Return Objective Asset Classes and Strategic Benchmark Allocations Minimum Suggested Investment Timeframe Risk level Balanced Option This option is intended to be suitable for members seeking long-term returns with moderate to high levels of volatility. To achieve returns (net of tax and investment fees) exceeding: - CPI +3.0% p.a. over rolling 10 year periods; and - The return of the median superannuation fund growth investment option, as surveyed by the Super Ratings 50 Balanced Index over rolling 10 year periods. Asset Class Benchmark Allocation Australian Shares 35.5% Overseas Shares 22.5% Property 7.0% Diversified Strategies Growth 5.0% Total growth assets 70.0% Fixed Interest 18.7% Diversified Strategies Defensive 5.0% Cash 6.3% Total interest-bearing assets 30.0% Members should be invested for the long term with a minimum time frame between 5 and 10 years. Risk Band Risk Label Estimated number of negative annual returns over any 20 year period 4 Medium 2 to less than 3 On death, whether or not a member has made an investment choice, their account will be invested in the Cash Option. You can switch investment options by submitting an Investment Choice Form to the Fund Administrator (contact details on the front page). Some members are able to do this online. Refer to Section 6 of this PDS for more information about fees and costs. The investment options may be changed from time to time. The Trustee may close, remove or add investment options. For more information about investments including details of all investment options and how to switch investments, refer to Section 3 of the Personal Division Incorporated Information Booklet available by visiting the Plan website at www.execsuper.com.au or by contacting the Fund Administrator on (02) 9335 7852. You should read this important information about investments before making a decision. The information relating to investments may change between the time you read this PDS and the day when you acquire the product. Section 6: Fees and costs DID YOU KNOW? Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns. For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000). You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs. TO FIND OUT MORE If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website (www.moneysmart.gov.au) has a superannuation calculator to help you check out different fee options. Fees and costs can be paid directly from your account or may be deducted from investment returns or Plan assets. You can use the fees and costs information below to compare costs between different superannuation products. However, bear in mind the nature of the investment option that you are comparing. Main fees and costs 5

The fees and costs are the same for all investment options, except for the Indirect Cost Ratio which varies depending on the investment option s underlying indirect investment costs. The fees and costs for the Balanced Option, the Plan s default investment option, are set out below. Additional fees may be paid to a financial adviser if a financial adviser is consulted and you should refer to the Statement of Advice in which details of the fees are set out, however these fees must be paid by you directly (not out of your account in the Fund). Personal Division - MySuper MyLife (Balanced Option) TYPE OF FEE AMOUNT HOW AND WHEN PAID Investment fee Nil Not applicable Indirect investment fees apply and are included in the Indirect Cost Ratio Administration fee Indirect administration fees apply and are included in the Indirect Cost Ratio $63.96 per year Deducted from members accounts annually at 30 June or on a pro-rata basis upon exit from the Plan. Buy-sell spread Nil Not applicable Switching fee Nil Not applicable Exit fee $30.75 Deducted from a member s account for each benefit payment (with some exceptions) Advice fees relating to all members investing in a particular MySuper product or investment option Other fees and costs 1 Nil Not applicable Indirect Cost Ratio 0.95 % 2 of assets Deducted before earnings are allocated to per year accounts 1. Other fees may apply, including activity fees relating to splitting or flagging a benefit under the Family Law Act. Please refer to the Additional Explanation of Fees and Costs in Section 4 of the Personal Division Incorporated Information for further details. 2. The indirect cost ratio is an estimate of indirect administration and investment costs and is subject to variation from year to year. Indirect administration costs paid to the Fund Administrator are capped at $5,000 per annum per member account held in the Plan for a full financial year which may mean the indirect cost ratio applicable to your account is less if you have a very large account balance. The Indirect Cost Ratios for the Aggressive, Conservative and Cash options are different. Please refer to Personal Division Incorporated Information for further details. Further details of the definitions of the fees and costs for this product can be located at www.execsuper.com.au. Example of annual fees and costs for the MySuper product (invested in the Balanced Option) The table below gives an example of how the fees and costs in the Balanced Option (the investment strategy for MySuper MyLife) for this product can affect your superannuation investment over a 1 year period. You should use this table to compare this product with other superannuation products. EXAMPLE MySuper product BALANCE OF $50,000 Investment fees Nil For every $50,000 you put in, you will be charged $0 each year PLUS Administration fees PLUS Indirect Costs for the MySuper product $63.96 per year ($1.23 per And, you will be charged $63.96 per year in administration fees week) regardless of your balance 0.95 % And, indirect costs of $475* each year will be deducted from your investment EQUALS Cost of product If your balance was $50 000, then for that year you will be charged fees of $538.96* for the MySuper product. * Additional fees may apply. And, if you leave the Plan you may also be charged an exit fee of $30.75. Things you should know: The Trustee can change the amount of fees without your consent. Any material increases in fees must be notified at least 30 days in advance. Estimated fees may vary from year to year depending on the experience of the Plan and its underlying investments. The Family Law service fees are subject to indexation from year to year based on movements in the Consumer Price Index ( CPI ). In addition to the above fees, insurance costs apply for any insurance cover you have in the Plan. For more information about the fees and costs including defined fees and the Indirect Cost Ratio applicable to all of the Plan s investment options, refer to Section 4 of the Personal Division Incorporated Information available by visiting the Plan website at www.execsuper.com.au or by contacting the Fund Administrator on (02) 9335 7852. You should read this important information about fees and costs before making a decision. The information relating to fees and costs may change between the time you read this PDS and the day when you acquire this product. 6

Section 7: How super is taxed Tax may apply to contributions made to the Plan, the Plan s investment earnings and withdrawals from the Plan, however generally, any taxes applicable to superannuation are at a concessional (lower) rate. Warning: concessional tax rates do not apply on contributions which exceed Government contribution limits. Contributions: Concessional contributions (for example, employer contributions and deductible member contributions) are subject to a concessional tax rate provided the Plan holds your Tax File Number ( TFN ). The concessional tax rate may change. Nonconcessional contributions (for example, non-deductible member contributions) are usually not subject to tax. If your concessional contributions and non-concessional contributions in a financial year exceed Government contribution limits, additional (excess) taxes will apply. Where contribution limits are exceeded, it may be possible to withdraw excess amounts, although some taxes and charges may still apply. The Plan deducts contributions tax from member accounts periodically and remits it to the Australian Taxation Office quarterly. Any excess taxes for contributions may also be paid out of the Plan. Taxes may apply to transfers of superannuation into the Plan from an untaxed source (for example, certain public sector schemes). Investment Earnings: Net earnings are subject to a tax rate of up to 15% however the rate may be less due to tax credits or other rebates. Withdrawals: If you are under age 60 but have reached your preservation age, the taxable component of lump sum superannuation payments is usually subject to tax at the maximum rate of 15% (plus Medicare levy). A tax free threshold, which varies from year to year, applies. Benefits paid after age 60, death benefits paid to dependants and terminal illness benefits are generally tax-free. (Different taxes apply to superannuation pensions received by persons under age 60). Taxes do not usually apply to transfers to another superannuation fund. Warning: You should provide your TFN when acquiring this product. If the Plan doesn t hold your TFN, we may not accept contributions for you, the tax on superannuation benefits may be higher and it may be more difficult to locate any lost super benefits or consolidate your superannuation. Further information about tax, including tax rates applicable from year to year, is available from the Australian Taxation Office website (www.ato.gov.au). For more information about taxation matters relevant to superannuation, refer to Section 5 of the Personal Division Incorporated Information available by visiting the Plan website at www.execsuper.com.au or by phoning (02) 9335 7852. You should read this important information about tax before making a decision. The information relating to tax may change between the time you read this PDS and the day when you acquire this product. Section 8: Insurance in your super The Plan provides Death and Total and Permanent Disablement ( TPD ) insurance cover to eligible members. Salary Continuance Insurance ( SCI ) cover is not available to members in the Plan. Some members of the Plan (transferred into the Plan, on cessation of work with a participating employer, from the Employer Sponsored Members Division within the Fund) may retain any cover associated with their participation in the Employer Sponsored Members Division. These members will have any insurance cover applicable to them at the date of transfer to the Plan automatically transferred to the Plan, unless cover ceases for some other reason or they instruct us to discontinue the insurance cover within the Plan. The amount of any retained TPD cover is subject to adjustments (reductions) on or after age 60. Any transferred cover retained in the Plan will be treated as voluntary insurance cover (whether or not it was initially provided on a default or standard basis, which means that the cost of this cover will be deducted from your member account in accordance with premium rates applicable to insurance cover in the Plan (depending on the nature of your membership). Please refer to Section 6 of the Incorporated Information for further information about eligibility of former members of a plan in the Employer Sponsored Members Division for insurance cover in the Plan. Death and TPD insurance cover does not automatically continue in the Plan for insurance only members or temporary residents previously participating in the Employer Sponsored Members Division. Also Death and TPD insurance cover previously held by former members of the Atwood Oceanics Australia Superannuation Plan, FreshFood Superannuation Plan or Sparxx Superannuation Plan (plans in the Employer Sponsored Members Division of the Fund) will not be retained in the Plan. Former members of these employer-sponsored plans who wish to continue Death and TPD cover outside the Fund, following cessation of work with their participating employer and transfer to the Plan, can exercise a continuation option. Please refer to Section 6 of the Incorporated Information for further information. Tailored additional or voluntary Death and TPD insurance cover is also available to eligible members in the Plan, including eligible members who have applied for membership of the Plan (who have no insurance cover on joining the Plan) and eligible members transferred into the Plan from the Employer Sponsored Members Division (who have insurance cover on transfer to the Plan), subject to the payment of applicable insurance costs. Tailored cover includes Life Events Cover which provides additional cover for significant life events on application to the Insurer by an eligible member without submitting the usual health or other evidence required. Tailored cover cannot be applied for by former members of the Atwood Oceanics Australia Superannuation Plan, FreshFood Superannuation Plan or Sparxx Superannuation Plan, or their spouses or other dependants. Spouses and other dependants of members of the KPMG Staff Superannuation Plan, KPMG Executive Superannuation Plan or ASC Superannuation Plan who are members of the Plan and wish to apply for voluntary Death only or Death and TPD insurance cover will need to complete an application form and any provide health or other requested evidence, which will be assessed by the Insurer. Insurance cover only commences once the Insurer has accepted an application for insurance cover. 7

Insurance cover is provided to eligible members of the Plan by TAL ( Insurer ) under insurance policies issued by the Insurer to the Trustee. There are costs associated with insurance cover in the Plan. You are responsible for paying the insurance costs associated with any insurance cover held in the Plan, regardless of whether you have applied for the cover or not, calculated in accordance with the relevant insurance premium table set out in Section 6 of the Personal Division Incorporated Information depending on your age, gender and the amount of cover. The Insurer may apply additional premium loadings which may apply specifically to you (for example, based on your health status). These insurance premiums are deducted from your account on an annual basis and may be adjusted for any changes to your cover during a financial year. The Plan remits premiums to the Insurer on a quarterly basis. You are able to reduce or cancel your insurance cover in the Plan at any time by providing a signed letter to the Fund Administrator confirming your instructions to reduce/cancel your cover. Insurance cover ceases when you reach age 70 (for Death) and 65 (for TPD); when you leave the Plan; if you travel, study or work overseas; if there is insufficient money in your member account to pay for cover or in other circumstances specified in the insurance policy. Insurance benefits are not payable in certain circumstances (called Exclusions ). For more information about insurance including when cover starts and ends, eligibility criteria for commencement of cover and payment of insurance benefits, the level and types of cover available, insurance costs, exclusions, and other important terms and conditions, refer to Section 6 of the Personal Division Incorporated Information available by visiting the Plan website at www.execsuper.com.au or by contacting the Fund Administrator on (02) 9335 7852. You should read this important information about insurance before making a decision. The information relating to insurance may change between the time you read this PDS and the day when you acquire this product. Warnings: If you are transferred to the Plan from the Employer Sponsored Members Division, unless you cancel any transferred cover, the cost of cover will be deducted from your account. Insurance terms and conditions (in particular, eligibility criteria, cover cessation circumstances and exclusions) may affect your entitlement to insurance cover or the payment of insured benefits so you should read Section 6 of the Personal Division Incorporated Information for more detailed information about these terms and conditions before deciding whether the insurance is appropriate for you. Section 9: How to open an account? An account in the Plan is automatically opened for members in a plan in the Employer Sponsored Members Division of the Fund who are transferred to the Plan upon cessation of their employment with their employer (or retirement from partnership, in the case of KPMG Australia partners). Not all members in the Employer Sponsored Members Division are transferred to the Plan on cessation of employment, for example, insurance only members of the Employer Sponsored Members Division are not automatically transferred. Spouses and other dependants (for example, a child), of an existing member of the Employer Sponsored Members Division, who wish to join the Plan must complete the Application for membership Personal Division Form accompanying this PDS. This form gives applicants for membership a number of options including nominating a beneficiary and choosing an investment option, however, you should read the Personal Division Incorporated Information before doing so. The Personal Division Incorporated Information contains important additional information about risks, investment options and fees and costs. If you change your mind after you apply to open an account and you have not exercised any right or power in relation to this product, you can cancel your account within 14 days from the end of the 5 th day after the account is opened or you receive confirmation of the account s establishment (whichever is earlier). This is called your cooling off right. Upon exercising this right your investment amount will be refunded after making allowance for any investment fluctuations, fees, costs, taxes and insurance premiums, as permitted by law. If we are unable to open your account or increase your interest for any reason, monies received for investment in the product may be retained in a separate trust account in accordance with relevant law. Any interest on these monies is retained in the Fund s pool of assets. If you have a complaint relating to this product, contact the Complaints Officer: Equity Trustees Limited GPO Box 2307 Melbourne VIC 3001 (03) 8623 5000 (03) 8623 5200 For more information about complaints handling refer Section 7 of the Personal Division Incorporated Information Booklet available by visiting the Plan website at www.execsuper.com.au or by phoning (02) 9335 7852. You should read this important information about complaints handling before making a decision. The information relating to complaints handling may change between the time you read this PDS and the day when you acquire this product. 8

The Executive Superannuation Fund PDS dated 27 January 2015 Application for membership Personal Division ( the Plan ) 1. APPLICANT DETAILS Title Mr Mrs Miss Ms Surname Given name(s) Residential address Phone (business) Date of Birth Email address State Phone (home) Postcode 2. ELIGIBILITY FOR MEMBERSHIP I confirm that I am a spouse of a current member of the Employer Sponsored Members Division in the Fund I confirm that I am a dependant of a current member of the Employer Sponsored Members Division in the Fund Member name Member no. 3. INSURANCE spouses or other dependants of current members of the Fund (tick only one of the options below) I wish to apply* for Death only or Death and TPD insurance cover within the Personal Division of the Fund at the following levels: Death TPD. * Note: Eligibility criteria apply. Eligibility to apply for insurance cover may depend on the plan in Employer Sponsored Division that a current member (shown above in relation to a spouse or dependant) participates in. Refer to Section 6 of the current Personal Division Incorporated information for more details. Applications by members to obtain or increase Death only or Death and TPD insurance cover within the Plan will usually be subject to underwriting by the insurer, TAL Life Limited ( TAL ). If you would like to obtain, or increase any existing level of, insurance cover, you will usually be required to complete a TAL Personal Statement. As part of the assessment of your application, you may also be required to provide additional medical and financial evidence to the insurer. Please contact the Fund Administrator for further details (see contact details overleaf). 4. INVESTMENT CHOICE Existing Account Balance I would like to invest my existing account balance in the following investment option(s): % Aggressive Option % Balanced Option % Conservative Option % Cash Option Please ensure that the total percentage nominated above equals one hundred percent (100%). Allocations to each option may fluctuate in accordance with market movements. Future Contributions I would like to invest all future contributions received in the following investment option(s): % Aggressive Option % Balanced Option % Conservative Option % Cash Option Please ensure that the total percentage nominated above equals one hundred percent (100%). 2

The Executive Superannuation Fund PDS dated 27 January 2015 5. TAX FILE NUMBER You are not obliged to provide your TFN, but if you do not, the Fund will not accept any contributions that you or your employer make to the Fund. Any contributions will be refunded after taking into account any allowable adjustments for investment fluctuations and reasonable costs (refer to the Product Disclosure Statement ( PDS ) and Incorporated Information for further details). 6. DECLARATION I declare that: I understand that I will be bound by the Trust Deed governing the Fund as amended from time to time; I have received, read and understood the PDS which accompanies this Application form; I have obtained, read and understood the latest Incorporated Information that is referred to in the PDS; I understand that the payment to a beneficiary of any death benefit under the Plan is at the absolute discretion of the Trustee and that any nomination made by me is not binding on the Trustee unless I make a valid Binding Nomination. I undertake to advise the Trustee of changes relating to my nominated beneficiaries; I understand that all applications for insurance cover or increases in cover within the Personal Division are usually subject to underwriting by the Fund s insurer, TAL Life Limited. I further understand that the granting of insurance coverage is at the absolute discretion of the insurer and that the Trustee may have no influence over this issue; I understand that the Trustee makes no specific recommendation concerning choice between the investment options of the Plan, and I understand and acknowledge that the value of the investments underlying the options may rise and fall and the Trustee does not guarantee their performance or any particular rate of return; I understand that if I do not make any investment choice at all (in any plan or division of the Fund) or for my existing account balance or future contributions, the Plan s default investment option (the Balanced option) will apply; I understand that upon written notification of my death to the Trustee, any benefit attributable to me will be invested in the Cash option; I acknowledge that the Trustee cannot provide me with advice about my benefits, investments, insurance and any taxation implications that takes into account my personal circumstances and that I should speak to an appropriately qualified adviser if I require such advice; I acknowledge that the Trustee may be required under taxation and superannuation legislation to deduct additional tax from my benefits and refuse or refund contributions made by or on my behalf and, in doing so, may make any adjustments to my account it considers necessary or appropriate; and I acknowledge having read and understood the privacy statements in the Incorporated Information and consent to my personal information being collected and used in accordance with these statements or as otherwise permitted or required by law. Signed: Date: Equity Trustees Limited (ABN: 46 004 031 298; AFSL 240975) as Trustee for The Executive Superannuation Fund (ABN: 60 998 717 367). Personal Division Unique Superannuation Identifier 60998717367001 Please return forms to the Fund Administrator, KPMG Superannuation Services Pty Limited Level 4, 10 Shelley Street, Sydney NSW 2000; PO Box 67 Australia Square NSW 1215 Email: AU-FMNatSuperAdmin@kpmg.com.au Telephone: (02) 9335 7852 Fax: (02) 9335 7001 Website: www.execsuper.com.au 3

The Executive Superannuation Fund PDS dated 27 January 2015 Nomination of Beneficiaries Form Please complete this form if you would like to nominate beneficiaries in respect of your member account in The Executive Superannuation Fund. This nomination is for lump sum payments only and will apply to any benefits you accrue in any plan or division of the Fund until such time as the nomination expires, is revoked or replaced with another valid and effective nomination. 1. Member Details Full Name: Date of Birth: Telephone: Residential address: Suburb: State: Postcode: Email address: 2. Nomination of Beneficiaries Type of nomination*: Binding (2 witnesses must sign overleaf) Non-Binding (no witnesses required) Full name of nominated beneficiary Address Relationship to you Proportion of Total Benefit (%)** * Important note: For information regarding the two types of beneficiary nominations available, please refer to the Personal Division Incorporated Information. Please consider each type of nomination and, where appropriate, seek qualified estate planning, financial or taxation advice, prior to choosing the one which is right for you. A binding beneficiary nomination cannot be made on your behalf under a Power of Attorney. ** 100% of your benefit must be allocated. A binding nomination will be invalid if the proportion of the total benefit allocated to your nominated beneficiaries does not equal 100%. You should also note that death benefits paid to non-dependants must be paid as a lump sum and will be subject to tax (including when the benefit comes via your estate). 4

The Executive Superannuation Fund PDS dated 27 January 2015 Nomination of Beneficiaries Form 2A. Witness Signatures (only have this section completed by 2 witnesses if you wish to make a Binding Nomination) I acknowledge that I am over 18 years of age and that I have not been nominated on this form and that the form was signed by the member in my presence. I declare that the information I have provided in this form is true and correct. Signature of Witness 1 Signature of Witness 2 Full Name: Date of Birth: Date: Full Name: Date of Birth: Date: Signature: Signature: 3. Authorisation 1. I confirm that I have read and understand the information in the latest Personal Division Incorporated Information regarding the nomination of beneficiaries in respect of my member account in The Executive Superannuation Fund. 2. I confirm that if I make a Binding Nomination, each of the above nominated beneficiaries is my dependant or legal personal representative (as defined in superannuation legislation). 3. I acknowledge that if I make a Binding Nomination, it must be renewed every three years, or it will become invalid. If this occurs, I acknowledge that the Trustee may pay my death benefit to any of my dependants or my legal personal representatives if relevant (whether nominated by me or not) or other person(s) as permitted under superannuation legislation. 4. I acknowledge that I may revoke or amend my nomination at any time by notifying the Trustee in writing. Member signature: Date: / / Equity Trustees Limited (ABN 46 004 031 298; AFSL No: 240975) as Trustee for The Executive Superannuation Fund (ABN 60 998 717 367). Personal Division Unique Superannuation Identifier 60998717367001 Please return forms to the Fund Administrator, KPMG Superannuation Services Pty Limited Level 4, 10 Shelley Street, Sydney NSW 2000; PO Box 67 Australia Square NSW 1215. Email: AU-FMNATSuperAdmin@kpmg.com.au Telephone: (02) 9335 7852 Fax: (02) 9335 7001 Website: www.execsuper.com.au 5