PLC Annual Report 2023 by Parra Leagues

ANNUAL REPORT

GROUP MEMBERSHIP

Over 95K MEMBERSHIP AT A GLANCE

Over 60K

Over 35K

7,853 294K

5,450

Total Club Membership

Total New Club Members

Total Club Visits

Total Parramatta Eels Members

New Eels Members

TABLE OF CONTENTS

MEET THE BOARD

PRESIDENT’S REPORT

PARRAMATTA LEAGUES’ CLUB - CEO REPORT

OUR CLUBS

PARRAMATTA EELS CEO REPORT

PARRAMATTA EELS FOOTBALL UPDATE

OUR COMMUNITY

HONOUR ROLL

DIRECTORS’ REPORT

AUDITOR’S REPORT

MEET THE BOARD

MEET THE BOARD Darren Adam

Joy Cusack

Richard Foda

Mark Jenkins APM

Director Audit Committee Chair Risk Committee Member

Director PNRL Board Delegate Risk Committee Chair Audit Committee Member Community Committee Member

Phil Sim

Director Community Committee Chair Risk Committee Member Audit Committee Member

Director Governance Committee Chair Audit Committee Member

Director PNRL Board Delegate Risk Committee Member Governance Committee Member

Sue Coleman

Director Community Committee Member Risk Committee Member

PRESIDENT’S REPORT Greg Monaghan

President Parramatta Leagues’ Group

Dear Members, 2023 will be remembered as the year that the Dural Country Club joined the Parramatta, Vikings and Eels Family. Group Memberships soared to new record highs, the covered walkway from the Parra carpark was completed and a great social space was restored with the stylish new Members’ Lounge. The Eels Centre of Excellence development at Kellyville really gained traction. Our Dural Country Club expansion broadens our reach, bringing us closer to our many members in the Hills. Sincere thanks to Dural Club President John Puleo and his Board for their commitment in securing the future of their club with us. Our mighty Parramatta Eels, coming off last year’s Grand Finals, just missed the finals in Men’s and Women’s. The Eels achieved strong membership growth, foundational Centre of Excellence progress and valuable contribution to Community – a tribute to the Board and Management, Coaches, and players. We thank Eels Chair Sean McElduff and CEO Jim Sarantinos for their exceptional leadership. We are confident the Eels will bounce back to Premiership contention in 2024. Our licenced clubs are proud to support the Eels with almost $2M in grants and services. In addition, Parra Leagues has underwritten $5M towards the Centre of Excellence completion.

We donated over $1.2M to Junior Rugby League, other sports, and community projects. This has fostered an unprecedented rise in young talent, including a 56% increase in female Rugby League participation. The NSW ClubGrants scheme is being reviewed by Government to maximise its effectiveness. We take pride that Parra Leagues conducts its Grants program with great integrity and creates outstanding positive social impact. The previously announced Eels Lane project will now be a new gaming area. This strategic shift from the originally planned alfresco bar became essential due to undocumented infrastructure under the clubhouse. It will create a stateof-the-art new facility for Members. Financially, we have maintained robust revenue streams, paralleling pre-pandemic levels. Despite facing rising operational costs, Parra is net debt free. Our Group result is bolstered by significant one-offs, especially a Grant for the Centre of Excellence which Accounting Standards require to be reported as income, and the acquisition of Dural contributing a net increase in Members’ Funds of over $5M. Amidst our successes, we have also faced loss. We are saddened by the passing of Club Patron, Life Member Alan Overton AM, Foundation Life Member Matthew Johnston, and

long-time supporter and former Director Tony Garnett OAM. Ovo, “Mr. Parramatta”, “Mr. Everywhere,” was Club President for 21 years Alan, Matt and Tony leave behind a legacy of passion and commitment to our Club, and we offer our sincerest condolences to their loved ones. In closing, we thank CEO Chris Dimou and his team for their exceptional leadership and dedication. I thank our Board of Directors for their diverse expertise and tireless efforts. Undoubtedly the stability of the Parra Leagues and Eels Boards and Management has contributed strongly to our successes. Thank you for being a part of our journey. Here’s to continued success and camaraderie in the years ahead! Warm regards,

Greg Monaghan On behalf of the Directors, Darren Adam, Sue Coleman, Joy Cusack, Richard Foda, Mark Jenkins and Phil Sim

CEO REPORT

Chris Dimou

Chief Executive Officer & Company Secretary Parramatta Leagues’ Club Group

Dear Members, Thank you for your continued support and commitment to our group of clubs. It’s been a year of significant achievements, challenges, and growth. Despite the uncertainties of the past two years our Club is firmly on the path of long-term growth, in line with our strategic vision. A pivotal achievement was the successful amalgamation of Dural Country Club into the Parramatta Leagues Group, expanding our network of premium hospitality services for our members and the wider community. Together with the Eels, our Group has made significant strides in community support, strategic planning and expansion. 2023 was also a strong financial year for the Parramatta Leagues group. The financial position achieved is a testament to both PLC and PNRL Boards and respective management teams. Total comprehensive income for the year increased to $26 million from $10.5 million in 2022. Consolidated Group Net Profit increased to $20.7 million this year from $10.5 million in 2022. Our Balance Sheet remains strong and shows total assets have increased from $129.6 million previous year to $143.9 million. Total members fund increased from $85.3 million last year to $111.3 million, an increase of 30%. Of particular note is maintaining a zero net-debt position.

To align with our strategic objectives, we have strengthened our leadership team with key appointments This includes the introduction of dedicated General Managers for each venue, supported by a centralised office specialising in Finance, People & Culture, IT, F&B, Gaming and Marketing. We also welcomed a new Executive Head Chef, committed to elevating our culinary offerings across the Group, as evidenced by Chef Helmut’s recent regional and state award-winning achievements in the ClubsNSW Perfect Plate Awards, Large Clubs category. Our commitment to organisational excellence is reflected in our efforts to cultivate a vibrant and engaging Club culture. Through our SPORT values, we are enhancing not just our workplace environment but also the experiences of our members. This initiative is essential for maintaining the well-being of our team and aligning our collective efforts towards our goals. The new Members’ Lounge on Level One at Parra Leagues has been a resounding success, offering a refreshed social environment and updated food and beverage options. The Dural Country Club has also seen significant developments, with training and upskilling for staff, new promotions, and plans for substantial upgrades including a new children’s play area.

An essential aspect of our community involvement is our staff volunteering program. This year, we achieved over 300 volunteer hours, significantly contributing to various charities like Dignity, Ronald McDonald House and Giant Steps, reflecting our commitment to social responsibility. I extend my sincere gratitude to Eels president Sean McElduff and the PNRL Board, together with Eels CEO Jim Sarantinos and his leadership team, for their hard work and significant achievements through the year, especially the commencement of works on the Centre of Excellence and community facility. The governance structures implemented since 2017 have enabled the Eels to flourish on and off the field. To Greg Monaghan and our Board of Directors, I thank you for your unwavering support and dedication to our Clubs, employees and leadership team over the past year. As the leadership team and I look towards 2024, we are excited about our ambitious plans to enhance our network of premium hospitality amenities further, and eagerly anticipate another year of growth and shared achievements.

Chris Dimou

Photos. Top Row: The new Members’ Lounge on Level One at Parra Leagues. Second Row: Covered walkway from Parra Leagues carpark to Main Entrance. Third Row (L) Australian chef and restaurateur Matt Moran & Cook & TV Host Courtney Roulston alongside PLC Chef Sabiu Gautam for Perfect Plate Awards. Third Row (R) PCYC Cheque presentation at Commbank Stadium. Bottom Row (L) Chris Dimou (PLC Group CEO) at Dural Amalgamation Ceremony. Bottom Row (R) Staff at our Melbourne Cup celebrations in Jacks Bar & Grill

annual investment in marketing and other activities aimed at growing the membership base. The commitment to maintaining bowling greens, bocce courts, and their related activities for at least a decade, further demonstrates the long-term vision for the Club.

DURAL COUNTRY CLUB: A NEW CHAPTER OF GROWTH This year we welcomed Dural Country Club to the Parramatta Leagues’ Club Group. A formal Amalgamation Handover Ceremony was held on August 25 to celebrate the momentous event which was attended by the Board of Directors from both Clubs, along with local dignitaries and members. A joint statement from the unified clubs emphasised the shared vision of providing exciting activities, events, and promotions, and the clubs expressed their gratitude for the ongoing support and enthusiasm of their members. Dural Country Club members have already started enjoying a range of new entertainment and activities. The introduction of weekly trivia, meat raffles, and the incredibly popular Family Fun Day in October, which

featured a petting zoo, jumping castle, and various kids’ activities, has brought a new vibrancy to the Club. The next 12 months will see the unveiling of an upgraded kids’ play area and bar facilities, with even more enhancements planned. In what will be an exciting and transformative journey, Parramatta Leagues’ Club Group has committed to a $5 million capital expenditure over three years at the Dural premises. This investment will encompass a range of upgrades, including garden landscaping, main bar renovations, technology, digital and network upgrades, and the implementation of advanced gaming systems and function spaces. Additionally, the Group is dedicated to enhancing the Club’s trade and brand awareness, with a planned $150,000

In line with our SPORT Values and Mission, all staff members at Dural Country Club were offered on going employment opportunities, and the validity of Dural memberships was honoured within the Parramatta Leagues’ Club Group. This amalgamation not only represents a strategic expansion but also reinforces the commitment to community, continuity, and shared prosperity. As the Dural Country Club embarks on this new chapter, the focus remains squarely on providing exceptional experiences and fostering a sense of community among members and staff alike.

SAM LO SURDO General Manager Dural Country Club

VIKINGS SPORTS CLUB - A HUB FOR FAMILIES In the past year, Viking Sports Club, nestled in Dundas Valley and just a short 10-minute drive from Parra Leagues, has experienced a remarkable surge in growth and popularity. The Club has rightfully earned its reputation as one of the most family-friendly venues in Western Sydney. With an array of events tailored for families, like the ever-popular Halloween Kid’s Disco, Viking Sports Club has become a go-to destination for family fun and entertainment. The Club’s commitment to providing a welcoming and enjoyable 8

environment for all ages has been a key factor in its growing appeal. One of the Club’s standout features is the ‘Little Vikings’ kids’ play space. This area is perfectly suited for family meals or mothers’ group gatherings, allowing adults to unwind and socialise while the children are thoroughly entertained. Little Vikings is equipped with a variety of child-friendly facilities and activities, including an indoor playground, arcade games, air hockey, and a dedicated Nickelodeon TV area, ensuring that children are engaged and amused in a safe and stimulating environment.

Further solidifying its role in the community, Viking Sports Club has formed a meaningful partnership with Learning Links, an initiative that helps local children enhance their literacy skills. This collaboration involves hosting a weekly Charity Housie activity, providing members with an enjoyable experience while supporting a valuable cause. The venue has also become increasingly popular for family celebrations, offering spacious function areas, exceptional service, and the convenience of free on-site parking.

PARRA LEAGUES: A YEAR OF CULINARY DELIGHTS AND SOCIAL SPACES experience and multiple awards to his name, Helmut brought a renewed focus on delivering worldclass dining experiences.

WILL CORBETT

General Manager Parramatta Leagues’ Club

2023 marked a year of advancements for Parra Leagues, elevating the dining and social experience for our members and guests. The launch of the new ‘Members’ Lounge’ in March 2023 signified a fresh era for the Club. This modern social space, designed for relaxation and enjoyment, quickly became a favourite members destination. The positive feedback for the new menu highlights our success in catering to diverse tastes and preferences, offering a range of classic sweet and savoury breakfast and lunch options.

His passion for crafting memorable meals and his commitment to making each dish a harmony of flavours has set a new standard for dining in Western Sydney. Our efforts were recognised at the Perfect Plate Awards, where Parra Leagues was honoured as the Regional Winner in the North Western Metropolitan area, and achieved third place in the NSW Large Club category. This success was due the hard work and dedication of our team.

Additionally, we embraced cultural festivities with a new Oktoberfest in Jacks Bar and Grill. The Germanthemed event, complete with traditional food, lagers in 1L steins, Schnapps, and Jägermeister, offered an authentic and vibrant experience, further showcasing our versatility in hosting diverse events. Parra Leagues demonstrated its’ commitment to culinary excellence and creating inviting atmospheres in 2023 and the Club has firmly established itself as a leading destination in the heart of Western Sydney’s rising culinary scene.

Emphasising warmth, hospitality, and quality, the Members’ Lounge provides a perfect retreat from the daily grind, where simplicity reigns, and every meal is a value-formoney delight. The Club’s culinary journey reached new heights with the appointment of our Executive Chef Helmut Gundendorfer. With 22 years of

Helmut pictured alongside his award-winning Fish Tacos

OUR MISSION

DANIEL GRAHAM General Manager Vikings Sports Club

We offer welcoming hospitality and positive community initiatives to maximise the experiences of our Members and our community. 9

EELS CEO REPORT

Jim Sarantinos

Chief Executive Officer Parramatta National Rugby League Club Pty Limited

Dear Members, 2023 was a year of ups and downs. While we encountered some challenges on the field, our Club still achieved several notable milestones. These included an SG Ball premiership, significant increase in Junior League participation, recordbreaking membership levels for the 10th year running, and a profitable financial year. We also commenced construction of our Centre of Excellence; a world-class sporting precinct due for completion in February 2025. A highlight of the year was the 40th anniversary celebration of the historic 3-peat of 1981, 82 and 83. We honoured the Club’s Premiership winning players with personalised premiership rings, acknowledging their invaluable contribution to our legacy. Despite the achievements, we are disappointed with our NRL and NRLW results for 2023. We have critically reviewed every element of our football program to ensure we make the necessary improvements and are positioned for a successful 2024 and beyond. Under Head Coach Brad Arthur and led by our senior players, we are committed to transforming this year’s challenges into next season’s successes. The commitment to performance excellence and value-based behaviours and standards, encompasses everyone in our Club from coaching staff and players to admin staff and the Board. Together we share the responsibility for our results and the obligation to turn it around in 2024.

This also extends to our NRLW program. The expansion of the NRLW competition from six to 10 teams highlighted the growth of the women’s game and the need to adjust. We have appointed Steve Georgallis as our NRLW Head Coach for 2024 and 2025 and with four decades of experience as a player and NRL assistant coach, Steve will develop the female players in our system. We thank Dean Widders for his contribution to the Club as our inaugural NRLW coach. Financially, we remain strong, recording a net profit of $17,525,034 for the year ending 31 October 2023, inclusive of government grants received. The significant growth in revenue in recent years and financial independence from Leagues Club funding has allowed us to invest more into our football and community programs. Some of the key off-field highlights of the year included record membership of 35,015; a five-year extension of our McDonald’s partnership and new long-term alliances with ATS Building Products and TABCorp; strong strategic relationships with local Councils, and a continued strong collaboration with the Parramatta Leagues’ Club providing support to our community partners and to our Junior League. Our Elite Pathways teams showed promising progress with the SG Ball team winning the premiership, and the Jersey Flegg team reaching the Preliminary Final - an insight into the Club’s future pipeline of talent, many of which will transition to our NRL and NRLW programs in the coming seasons.

In an exciting development for our women’s program, we will be fielding a team in the Harvey Norman Women’s Premiership in 2024, which will complete the link for female players from Junior League to NRLW. It’s wonderful to see female participation grow exponentially across our Junior League, with a 50.9% year-on-year increase. Earlier this year Kane Constructions NSW were appointed builders for our new Centre of Excellence which, when completed in 2025, will be the largest rugby league facility in Australia; a world class facility which current and future generations of Eels will call home. We have always maintained that we are more than just a football club, we are a community. This year, over $1 million in value was delivered to our community through initiatives including donations of merchandise and apparel, complimentary tickets and game-day experiences, and school programs. Additionally, players and staff provided over 400 volunteer hours. We have a renewed focus on our community strategy, driving social impact across three pillars: Mental Health, Respect and Active Kids. Working closely with the Parramatta Leagues’ Club Group and other partners, we will be rolling out several exciting new initiatives in 2024. We are grateful for the close working relationship we have with Parramatta Leagues’ Club President Greg Monaghan, CEO Chris Dimou, Board, and management. We should never take for granted the importance of good governance and business management in delivering the strong progress we are making in both organisations. I’d like to say thank you to all our staff, players, and volunteers who have worked tirelessly once again throughout 2023 your efforts are greatly appreciated. Finally on behalf of everyone at the Club, I’d like to thank you, our members, corporate partners, and all those who support the Club for your continued support and we look forward to enjoying a successful 2024 with you all.

Jim Sarantinos

Concept render of the new Centre of Excellence, scheduled for completion in 2025

FOOTBALL UPDATE

Mark O’Neill

General Manager of Football Parramatta National Rugby League Club Group Pty Limited

Dear Members, As the dust settles on 2023, there is no doubt the year presented some challenges and it is important to reflect on the overall performances and look ahead to 2024. The next few months will be an important time as we prepare for the 2024 NRL & NRLW campaigns.

NRL During the off-season we completed our annual review of the football program and we have identified key areas of focus. We have increased the focus on Club connection, and all of our players, coaches and staff are united and committed to implementing the necessary changes to ensure future success. Throughout the season several players made their Club debut. The opportunity for Brendan Hands, Wiremu Greig, Matt Doorey, Ofahiki Ogden, Luca Moretti and Daejarn Asi to gain valuable first grade experience will benefit the team in 2024. 12

We retained some of our key NRL players, which establishes a strong foundation for our roster into season 2024 and beyond. Mitchell Moses, Dylan Brown and Will Penisini have signed long-term contracts with the Club and we confirmed contract extensions for several of our current players including J’maine Hopgood, Brendan Hands and Maika Sivo. We had four players rewarded with representative honours for the NSW Origin team. Mitchell Moses, Clint Gutherson, Regan CampbellGillard and Junior Paulo played for NSW and J’maine Hopgood received a call up as 19th man for the QLD squad. Dylan Brown, Will Penisini, Junior Paulo, Maika Sivo, Makahesi Makatoa, Daejarn Asi and Wiremu Greig represented their countries post season internationals. A wonderful achievement they should all be very proud of. Brad Arthur, his coaching staff and the players are all working hard preparing for a successful year ahead. The enthusiasm amongst our emerging talent is infectious and our senior players are leading with a new found purpose. The entire football department is determined to return to finals football and challenge for a premiership in 2024.

NRLW The expansion of the NRLW from six to 10 teams led to a significant recruitment period for all NRLW Clubs. We added 14 players to our list of NRLW debutants in 2023, unearthing a number of talented young players who will be part of the core of our NRLW team in future seasons. We are developing a strong and professional longterm high-performance culture while progressing our development club philosophy through our female pathways. We have appointed Steve Georgallis as NRLW Head Coach for 2024 and 2025. With extensive experience as a player and coach in NRL, Steve will help grow and develop the female players in our system along with assistant coach Kate Mullaly and our NRLW Operations & Female Participation Manager, Kate Parkinson. We thank Dean Widders for his contribution to the Club as our inaugural NRLW coach. There are several exciting developments in our Women’s program. Next year the Eels will be fielding a team in the Harvey Norman Women’s Premiership, which completes the link in our Pathways system for female players from Junior League all the way to NRLW. Our partnership with Cumberland Council continues to grow and we are excited to play two of our home games next year at Eric Tweedale Stadium in Granville Park, a high quality multi-million-dollar facility. The growth in female participation in our Junior League has been remarkable. This year alone we saw over 50% increase in female players across our junior Clubs and there is no doubt that our NRLW team has had a big impact on driving young females playing rugby league.

ELITE PATHWAYS The 2023 NSW Rugby League (NSWRL) junior representative season saw all four Eels teams reach the finals, culminating with our SG Ball team winning the premiership in the grand final against Newcastle. Our Lisa Fiaola team (U17 Girls) also won all of its official games as part of the 4-game round robin competition.

We are excited about the players we expect to progress through the ranks in the future, and we have bolstered our coaching capabilities with former NSW Cup captain Jordan Rankin as the Head Coach of the Parramatta Eels Jersey Flegg team and Josh Hodgson appointed Assistant Coaching Director for our Elite Pathways Program.

The performance of our junior representative teams showed the benefits of the recent investment in coaches and other resources committed to the Elite Pathways program.

Finally, we would like to say thank you to all our staff, players, parents and volunteers who have provided our talent the opportunity to pursue their NRL and NRLW dreams. Their tireless efforts are greatly appreciated by everyone at the Eels.

The Elite Pathways’ main objective is to continue to produce and develop players for our NRL and NRLW squads. Six players from our Elite Pathways teams have joined the NRL squad at pre-season training.

We look forward to creating memorable moments, uplifting lives and bringing our community together. 13

OUR COMMUNITY We bring together our community and support local causes, sport and the Parramatta Eels to promote wellbeing, happiness and pride.

Over $2.3M

Total Community Donations Parramatta Leagues’ Club

Over $1.3M Over

100 community partners

Parramatta National Rugby League

Over $1.0M

Over

Estimate total recipients of benefits

Staff Volunteer Hours across the PLC Group

36,700

700hrs

OUR TOP 3 CLUBGRANTS CONTRIBUTIONS Sport $$$

545K

In 2023, the Parramatta Leagues’ Club Group continued its commitment to strengthening and enriching our local community, focusing its efforts on Rugby League, Sports, Health & Wellbeing, and Education. As the largest contributor to the ClubGRANTS scheme in the Parramatta LGA, the Group provided over $1.3M in cash and in-kind donations to a range of community partners. The overall social impact of these contributions has played a significant role in enriching lives and fostering community well-being. Our approach encompassed promoting grassroots sports and enhancing mental health support, demonstrating our unwavering commitment to community-building. Beyond financial aid, we formed collaborative partnerships, working alongside local and government organisations and stakeholders to 14

Health & Wellbeing $$$

297K

Education $$$

104K

amplify each programs reach and effectiveness. These alliances were complemented by our contributions of expertise, donations, and room availability for local events. The outcomes from 2023’s efforts, especially in increasing grassroots sports participation and boosting mental health support, highlight our program’s success. These achievements reflect our ongoing dedication to creating a healthier, more resilient community. The Group’s Community Program is dedicated to making a meaningful and lasting impact. By focusing on key areas like rugby league, junior sports, and other vital initiatives, and fostering collaborative partnerships, we are set to continue our legacy of positively shaping the well-being of individuals and communities in 2024 and beyond.

CELEBRATING A STELLAR YEAR FOR JUNIOR RUGBY LEAGUE The 2023 season marked a year of extraordinary growth for Parramatta Junior Rugby League, with remarkable engagement across all age groups. With 224 teams for players aged U6 to U12, and 126 teams in the Tackle and League Tag Competitions for older players, the league saw participation in over 2,400 games across local, conference, and metro competitions. This extensive involvement highlights the widespread passion for the sport. Player registrations soared to over 5,500, reaching pre-pandemic levels. Female participation experienced a significant surge, with 970 players registering – a 50% increase from the previous year. Our ongoing efforts are focused on continuing to increase female involvement in both traditional and League Tag competitions. The season commenced with an Under 6s Fun Day at CommBank Stadium, aligning with the Junior League Season Launch. This event offered an immersive experience for young players, featuring activities such as jersey presentations, skill drills, and interaction with NRL and NRLW stars. The Under 16 Division 1 Match of the Round was livestreamed, garnering enthusiastic participation and professional engagement from the teams involved. The Under 7s celebrated their completion of the TackleReady program with a Gala Day, promoting sportsmanship and community spirit.

Collaboration with the NRL provided unique opportunities, including a community campaign at Kellyville Memorial Park and participation in the Ampol Women’s State of Origin Series Launch. Mini & Mod teams also relished the chance to play at CommBank Stadium, enhancing their rugby league experience. Parramatta Junior Rugby League’s commitment to inclusivity is evident through the all-abilities programs offered by three of our clubs. Looking ahead to 2024, we aim to raise awareness about these inclusive opportunities. Financial support from the Parramatta Leagues’ Group, through ClubGRANTS funding of over $350,000, was instrumental. This funding covers essentials like insurance and referees’ fees, and significantly reduces the cost for individual players. It also empowered clubs to enhance their own facilities and operations. Reflecting on 2023’s achievements, Parramatta Junior Rugby League anticipates further growth and success in nurturing young talent, with a continued focus on the development and enjoyment of rugby league among our youth in the coming year.

GIANT STEPS COLLABORATION REVEALS THE POWER OF COLOUR Volunteers from the Parramatta Leagues’ Club Group joined forces with Giant Steps Australia, an organisation dedicated to supporting individuals with autism, and their families, through specialised education and therapeutic services. Over three days, thirty volunteers, armed with paint supplied by Taubmans, transformed several areas of the Giant Steps school, including the music room, library and outdoor play area. Working with Giant Steps occupational therapists and Taubmans’ colour technicians, they used colour to create spaces to facilitate play, and support a calm and focused environment for the children. Among the volunteers were Parramatta Eels players and community ambassadors, including Brendan Hands, Shaun Lane, Ruby-Jean Kennard, Jirah Momoisea, and Luca Moretti, who dedicated their time and efforts to this meaningful cause. The colour selection was strategic, aimed at using hues as visual cues to aid memory, emotion, and communication between children with Autism Spectrum Disorders (ASD), and their teachers. By the project’s end, seven rooms had been revitalised, offering students and staff a newly invigorated, inspiring environment. The Parramatta Leagues’ Club Group are grateful to all who contributed to this impactful project. This collaboration with Giant Steps went beyond mere renovation; it embodied our belief in community and the importance of nurturing learning environments. It also aligns with our commitment to staff volunteering and fostering a vibrant, engaging Club culture. Parramatta Eel Shaun Lane, volunteering alongside Parramatta Eels staff Gabriella Fitzpatrick (front) and Adam Benson (left back row) at the Giant Steps School 16

Parra Leagues staff & Directors pictured from left: Darren Adam (Director), Sue Pemberton, Paul Denahy, Wayne-Dabu Ibarra, Shaleen Charan, Chris Dimou (CEO), Sue Coleman (Director), Annie Brown, Richard Foda (Director)

TOGETHER FOR TINY MIRACLES The Parramatta Leagues’ Club Group proudly partnered with Miracle Babies Foundation, a nonprofit organisation supporting premature and sick newborns, their families, and the hospitals that care for them. Annually, around 48,000 Australian newborns need Neonatal Intensive Care Unit (NICU) or Special Care Nursery (SCN) care, with 25,000 born prematurely and up to 1,000 losing their lives. Miracle Babies Foundation is instrumental in offering vital support and resources to these families, aiding them from pregnancy through to their transition home. We supported the Foundation’s major fundraiser, the Moonwalk, a 10km fun-walk in Sydney’s CBD. Additionally, our collaboration included the PeerAssisted Assistance Initiative, focused on aiding families in NICU and SCN at Westmead Hospital.

This initiative provides families with tailored resource packages, designed from experiences of those who have faced similar challenges. These packages, filled with essential tools and information, aim to help families manage the complexities of caring for a premature or sick infant, fostering understanding, confidence, and mental well-being. Our partnership with Miracle Babies Foundation goes beyond mere collaboration; it embodies our commitment to supporting our community’s most vulnerable. We are immensely grateful for the opportunity to contribute to Miracle Babies Foundation’s vital work, playing a part in making a profound difference in the lives of affected families.

COMMUNITY EDUCATIONAL AND SAFETY PROJECT WITH PARRAMATTA MISSION Working with the most vulnerable in our community, Parramatta Mission provides essential services to those facing homelessness, crisis, or living with mental illness. Serving up to 300 daily meals, plus a spectrum of support services including housing and legal aid, the Mission is instrumental in transforming lives. The Parramatta Leagues’ Club Group was involved in the Parramatta Community Services Hub-Day, a monthly initiative by Parramatta Mission. This collaboration united various services like Centrelink, Service NSW, and Legal Aid, offering comprehensive support to those in need. A significant partnership with Revenue NSW focused on an educational and safety project for bike and electric-powered vehicle riders. This project tackled the issue of recurring fines due to unsafe riding, which often leads to increased debt. Working with Transport NSW, NSW Police, and Parramatta PCYC, the Group conducted educational sessions at Parramatta Mission, aimed at assisting individuals in avoiding fines, resolving issues before judicial escalation, and promoting safe riding practices. Part of this initiative included distributing free helmets, particularly benefiting those who might not afford them. By focusing on riding safety and the use of helmets, the project aimed to prevent the cycle of debt and financial hardship caused by fines. The Parramatta Leagues’ Club Group’s contribution of 100 helmets to Parramatta Mission contributed towards creating a safer, well-informed, and financially stable community.

Joy Cusack (PLC Director) attending the Parramatta Mission Hub Day to distribute helmets to the community

STAFF VOLUNTEERING WITH DIGNITY: NOURISHING THE COMMUNITY Parra Leagues actively engaged in addressing homelessness, a growing issue in Parramatta and surrounding areas. Collaborating with Dignity, a Northmead-based charity, our staff volunteers were actively involved in supporting those at risk, reflecting our understanding of the integral link between community wellbeing and aiding the vulnerable. Homelessness in the Parramatta LGA encompasses primary (rough sleeping), secondary (temporary accommodation), and tertiary (insecure, overcrowded living) forms. Dignity’s mission to end homelessness in Australia is marked by a people-centric approach, providing vital services like shelter, food, and education. Their work, internationally recognised and awarded the 2019 Telstra Business of the Year, focuses on restoring dignity to individuals and families. A key volunteer initiative for our staff this year was ‘Cook for Dignity Dishes.’ Following strict food safety guidelines, our volunteers prepared and distributed a range of nutritious meals, from chicken curries to comforting pasta dishes, to those in need in the local community. These efforts have led to the preparation of over 3,000 meals this year, a crucial aid in a time where many face the tough choice between paying rent or buying food. Our partnership with Dignity goes beyond meal provision; it’s about instilling hope and fostering a connected community. Parramatta Leagues’ Club is committed to building a healthier and more supportive community environment.

Photos Top Left: Parra Leagues staff Yogesh Karki Left: Parra Leagues staff Yogesh Karki & Sarah Hanslow with Eels Legend Tim Mannah preparing meals. 19

HONOUR ROLL “MR PARRAMATTA” ALAN OVERTON AM OAM 1937 - 2023

Alan Overton was chairman of Parramatta Leagues Club for 21 years between 1988 and 2009 and has been a patron of the Club since 2010. Alan was also chairman of the Parramatta Eels from 1988 until 2009 and made an enormous contribution to each organisation. Alan’s leadership brought financial stability and growth to the Clubs, leaving a lasting impact on and off the field. “Mr Parramatta”, or “Ovo” as Alan was affectionately known, played a pivotal role in the growth of Parramatta and Western Sydney, and wholeheartedly supported the community through numerous organisations including the Ronald McDonald House Westmead. His passion for the community saw Alan receive numerous Awards and Achievements including the Order of Australia – OAM (Order of Australia Medal) in 1994 for starting a scout group for handicapped children and then in 2004 the Order of Australia – AM (Member of Australia Medal).

WE ALSO REMEMBER

LIFE ELECTED MEMBERS JACK ARGENT * STAN SIMPSON * SPENCER O’NEILL * BOB JONES * STAN LEWIS * ALBERT BAKER PETER LEACH * ARTHUR DREW JACK BOYLE BILL O’KEEFE * DAN MAHONEY * ROY FISHER * KEVYN MADDOCKS * PETER ROGERS * BILLY RAYNER * KEITH GILLET * RON HILDITCH ALAN OVERTON AM OAM * FRANK SUTTON * FRANK KEANE * GARY MORRIS DON RITCHIE * DENIS W FITZGERALD AM JOE JOSEPH *

MATTHEW JOHNSTON

TONY GARNETT OAM

Life Member and Eels Player #146

Club Director 1987-1991 Eels Supporter

1937 - 2023

1944 - 2022

PETER MILLER CYRIL SHEAN * CHRISTOPHER JURD * DR MICHAEL JOHNSON

FOUNDATION MEMBERS. FOREVER REMEMBERED

LIFE FOUNDATION MEMBERS

JACK ANDERSON *

RICHARD MCGARRIGLE *

COLIN BARLOW

FRANK MCCAFFERY

KEITH ANSON *

DON MCLEAN *

EDDIE BOULOUS *

RONALD MCLEAN *

DAVID BAMBRICK *

HERBERT MITCHELL *

RAYMOND CARTER

ROBERT MCLEOD

NOEL BARNES *

JAMES MULVIHILL *

RONALD COLLYER *

JOHN MILLER OAM *

GEORGE BOSNICH *

STUART MURRAY *

DENNIS COONEY *

GORDON MOLLOY

RONALD CATER *

COLIN OLIVER *

ALLAN CRESSWELL *

SPENCER MOREY *

BRIAN CATT *

GILLIAN PARTRIDGE *

RONALD CROGHAN *

RAYMOND NEWLAND *

BASIL COHEN *

RONALD POND *

RONALD DIXON *

RONALD PARKES *

PATRICK CONNOLLY *

CECIL PRATT *

WILLIAM DOOLAN *

NOEL PICKERING *

DOUGLAS DUNCAN *

HENRY REID *

LAURENCE DOOLAN *

REG PRUDAMES *

SIDNEY EADES *

NORMAN ROCHESTER *

RONALD FREEMAN

RONALD PRUDAMES *

JOHN FELETTI *

KENNETH SPENCE *

ALVIN HARTLEY *

JOHN PURVES *

PETER FRIEND *

CLIFFORD STEVENSON *

KEVIN HUGHES *

NORMAN SIMMONS

THOMAS GATES OAM *

ROSS STEWART *

MATTHEW JOHNSTON *

RONALD SIMPSON *

ROY GRAY *

JOHN STYLES *

LEONARD JOHNSTONE * BRYAN SIMPSON *

CHARLES GRIFFITHS *

RONALD TARRANT *

JOHN LYONS *

THOMAS VERNON *

RAYMOND HINSON *

WALLY WEBSTER OAM *

REG MANNING *

KEN VINE *

STANLEY INGRAM *

ALLAN WEEKES *

MAXWELL MAYO *

PETER WINCH

FREDERICK KENSITT *

ALBERT WIFFEN *

DANIEL MARTIN *

ALAN WILLIAMS *

ARTHUR MCBURNEY *

CEDRIC WOOTTON *

* DECEASED MEMBER

Photo: 2023 Life Member Luncheon. From left: Merle Overton, Anita Johnston, Gordon Molloy, Robert Mcleod, Peter Winch, Dr Michael Johnson, Dennis Fitzgerald AM

PARRAMATTA LEAGUES’ CLUB LTD ABN 52 000 218 655

GENERAL PURPOSE (SDS) FINANCIAL REPORT FOR THE YEAR ENDED 31 OCTOBER 2023

DIRECTORS’ REPORT Your directors submit their report on Parramatta Leagues’ Club Ltd (the “Company”) and the entities it controlled (collectively, the “Group”) for the year ended 31 October 2023. DIRECTORS The names of the Group’s directors in office during the financial year and until the date of this report are set out below. The directors were in office for this entire period. Gregory Monaghan

Philip Sim

Darren Adam

Richard Foda

Joy Cusack

Susan Coleman

Mark Jenkins DIVIDENDS The Group is limited by guarantee and is prevented by its constitution from paying dividends. PRINCIPAL ACTIVITIES The principal activities of the Group during the course of the financial year consisted of the conduct and promotion of licensed social clubs for members of the club and promotion of rugby league football within the Parramatta district. There were no significant changes in the nature of the Group’s activities during the year. OVERALL OBJECTIVES To ensure Parramatta Leagues’ Club Ltd is one of the most professional and progressive multipurpose hospitality venue in Greater Western Sydney, by providing excellence in service and amenities for all members; and to foster, encourage, promote and control the development, playing and interests of rugby league football within the area of the geographical boundaries of Parramatta National Rugby League Club Pty Limited, a subsidiary within the Group, as defined from time to time in the by-laws of the league’s governing body. The short term objectives of the Group are to focus on member satisfaction through the refresh of the Clubhouses and new development opportunities, while operating within a robust governance and compliance framework.

DIRECTORS’ REPORT The long term objectives of the Group are to: • Bring together our community and support local causes, sport and the Eels to promote wellbeing happiness and pride; • Provide a network of premium hospitality, entertainment, sporting and complementary businesses and services for the benefit of our community; and • Ensure our long term financial viability by the diversification of our business within our catchment area. The Group measures success by focusing on the following key areas:

• Improved facilities for our members;

• Increasing clubs engaged membership;

• Engaged and well trained employees;

• Focus on governance, risk and compliance initiatives; and

• Sound financial management and performance monitoring.

OPERATING RESULTS FOR THE YEAR The net profit after tax of the Group for the year ended 31 October 2023 was $20,689,972 (2022: $10,519,325). SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS On 18 August 2023, the Group acquired the assets and liabilities of Dural Country Club Ltd. Information on amalgamation of the Group is provided in Note 4. During the period, the Group also commenced the construction of Parramatta Eels Centre of Excellence and Community Facility and received grant income in relation to the same. There have been no other significant changes in the state of affairs of the Group during the year. SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD There have been no significant events occurring after the reporting period which may affect either the Group ‘s operations or results of those operations or the Group ‘s state of affairs. LIKELY DEVELOPMENTS AND EXPECTED RESULTS Likely developments in the operations of the Group and the expected results of those operations in future financial years have not been included in this report as the inclusion of such information is likely to result in unreasonable prejudice to the Group .

DIRECTORS’ REPORT ENVIRONMENTAL REGULATION The Group is not subject to any particular or significant environmental regulation under laws of the Commonwealth or of a State or Territory. MEETINGS OF DIRECTORS The number of meetings of Company’s directors held during the year ended 31 October 2023 and the number of meetings attended by the directors was: Full meetings of directors A

Gregory Monaghan

Darren Adam

Joy Cusack

Mark Jenkins

Philip Sim

Richard Foda

Susan Coleman

A = Number of meetings attended B = Number of meetings held during the time the directors held office during the period COMMITTEE MEMBERSHIP Members acting on the committees of the board during the year were: AUDIT

RISK

GOVERNANCE

COMMUNITY & CLUB GRANTS

Chair

Member

Gregory Monaghan

Ex-Officio

Joy Cusack

Member

Chair

Mark Jenkins

Member

Philip Sim

Member

Chair

Richard Foda

Member

Chair

Member

Susan Coleman

Member

Darren Adam

INSURANCE OF DIRECTORS AND OFFICERS During the financial year, Parramatta Leagues’ Club Ltd held a management liability insurance policy under the directors and officers liability cover.

DIRECTORS’ REPORT The liabilities insured are legal costs that may be incurred in defending civil or criminal proceedings that may be brought against the directors and officers in their capacity as officers of the Company, and any other payments arising from liabilities incurred by the directors and officers in connection with such proceedings. This does not include such liabilities that arise from conduct involving a wilful breach of duty by the directors and officers or the improper use by the officers of their position or of information to gain advantage for themselves or someone else or to cause detriment to the company. It is not possible to apportion the premium between amounts relating to the insurance against legal costs and those relating to other liabilities. INDEMNIFICATION OF AUDITOR To the extent permitted by law, the Company has agreed to indemnify its auditor, Ernst & Young (Australia), as part of the terms of its audit engagement agreement against claims by third parties arising from the audit (for an unspecified amount). No payment has been made to indemnify Ernst & Young (Australia) during or since the financial year. MEMBERSHIP The Company is a company limited by guarantee and is without share capital. The number of members as at 31 October 2023 was 63,366 (2022: 58,747). MEMBERS’ LIMITED LIABILITY In accordance with the Constitution of the Company, every member of the Company undertakes to contribute an amount limited to $4 per member in the event of the winding up of the Company during the time that he or she is a member or within one year thereafter. AUDITOR’S INDEPENDENCE DECLARATION The directors have received an independence declaration from the auditor of Parramatta Leagues’ Club Ltd . This has been included on page 5. Ernst & Young (Australia) was appointed as auditor in accordance with Section 327 of the Corporations Act 2001. Signed in accordance with a resolution of the directors.

GREGORY MONAGHAN Director Sydney 21 December 2023

Sydney NSW 2000 Australia GPO Box 2646 Sydney NSW 2001

ey.com/au

AUDITOR’S INDEPENDENCE DECLARATION Auditor’s independence declaration to the directors of Parramatta Leagues Club Limited and its controlled entities Ernst & Young Tel: +61 2 9248 5555 200 George Street Fax: +61 2 9248 5959 Sydney NSW 2000 Australia ey.com/au As lead auditor for the audit of report of Parramatta Leagues Club Limited for the GPOthe Boxfinancial 2646 Sydney NSW 2001

financial year ended 31 October 2023, I declare to the best of my knowledge and belief, there have been: a.

No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit;

Auditor’s independence declaration to the directors of Parramatta Leagues b. No contraventions of any applicable code of professional conduct in relation to the audit; and Club Limited and its controlled entities c.

No non-audit services provided that contravene any applicable code of professional conduct in relation to the audit. As lead auditor for the audit of the financial report of Parramatta Leagues Club Limited for the This declaration is in 31 respect of Parramatta Leagues Club Limited the entities it controlled during financial year ended October 2023, I declare to the best of my and knowledge and belief, there have the financial year. been: a.

No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit;

Ernst & Young b. No contraventions of any applicable code of professional conduct in relation to the audit; and c.

No non-audit services provided that contravene any applicable code of professional conduct in relation to the audit.

Daniel Cunningham This declaration is in respect of Parramatta Leagues Club Limited and the entities it controlled during Partner the financial year. Sydney 21 December 2023 Ernst & Young

Daniel Cunningham Partner Sydney 21 December 2023

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation 27

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 OCTOBER 2023

NOTES

2023 $

2022 $

Revenue from contracts with customers

98,569,575

98,447,367

Other income

2,021,997

2,708,607

Grant income

17,320,000

1,621,636

Cost of goods sold

(4,825,959)

(4,533,603)

Poker machine duty

(12,701,172)

(14,397,458)

Depreciation expense

(7,326,975)

(7,429,302)

(731,138)

(904,885)

Employee benefits expense

(43,140,837)

(38,792,354)

Entertainment, marketing and promotional costs

(5,449,650)

(4,820,243)

Football related expenses

(12,531,109)

(11,861,894)

Repairs and maintenance expenses

(1,906,106)

(1,644,811)

(38,879)

(181,584)

(3,762,143)

(3,359,835)

(738,318)

(223,327)

(3,658,601)

(3,041,780)

(1,150,984)

(1,230,765)

740,271

163,556

20,689,972

10,519,325

20,689,972

10,519,325

5,315,786

26,005,758

10,519,325

Donations

Licenses and fees Occupancy expenses Legal costs Other expenses Finance costs

Finance income Profit before tax Income tax expense

Profit for the year OTHER COMPREHENSIVE INCOME Other comprehensive income that will not be reclassified to profit or loss in subsequent periods (net of tax): Gain on amalgamation Total Comprehensive income for the year, net of tax

The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes. 28

CONSOLIDATED STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 OCTOBER 2023

Assets

NOTES

2023 $

2022 $

Current assets Cash and cash equivalents

24,895,631

27,998,242

Trade and other receivables

8,548,817

2,643,525

Contract assets

257,967

122,608

Inventories

387,661

288,959

34,090,076

31,053,334

Total current assets Non-current assets Property, plant and equipment

78,372,645

67,713,422

Intangible assets

1,690,000

835,000

Right-of-use assets

12,231,147

12,494,176

Investment properties

17,501,403

109,795,195

98,544,001

Total non-current assets

Total assets

143,885,271

129,597,335

Liabilities

Current liabilities Trade and other payables

9,441,618

11,022,974

Borrowings

4,845,614

5,682,720

96,335

28,170

Lease liabilities Employee benefit liabilities

2,703,630

2,493,176

Contract liabilities

2,136,556

2,021,231

19,223,753

21,248,271

Total current liabilities Non-current liabilities Borrowings

Lease liabilities

9,468,823 12,678,142

12,889,454

Employee benefit liabilities

391,537

415,015

Contract liabilities

278,293

267,984

Total liabilities

13,347,972

32,571,725

23,041,276

Net assets

111,313,546

85,307,788

105,997,760

85,307,788

5,315,786

111,313,546

85,307,788

Total non-current liabilities

44,289,547

Members' funds Retained earnings Amalgamation reserve Total members’ fund

The above consolidated statement of financial position should be read in conjunction with the accompanying notes.

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 OCTOBER 2023

RETAINED EARNING $

AMALGAMATION RESERVE $

TOTAL MEMBERS’ FUND $

At 1 November 2022

85,307,788

Profit for the year

20,689,972

5,315,786

Total comprehensive income for the year

20,689,972

5,315,786

26,005,758

At 31 October 2023

105,997,760

5,315,786

111,313,546

At 1 November 2021

74,788,463

Profit for the year

10,519,325

Other comprehensive income

Total comprehensive income for the year

10,519,325

At 31 October 2022

85,307,788

Other comprehensive income that will not be reclassified to profit or loss in subsequent periods (net of tax) (Note 4)

The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2023 2023 $

2022 $

Receipts from customers, sponsors and government (inclusive of GST)

119,966,655

109,641,012

Payments to suppliers and employees (inclusive of GST)

(100,172,847)

(90,764,472)

Rent received

982,843

909,857

Interest received

740,271

163,556

Interest paid

(1,066,531)

(1,150,082)

Net cash flows from operating activities

20,450,391

18,799,871

Proceeds from sales of asset held for sale

2,137,000

Proceeds from sale of non-current assets

60,156

727,137

(9,576,909)

(4,464,415)

69,375

(9,447,378)

(1,600,278)

(13,939,277)

(6,928,072)

(166,347) (14,105,624)

(173,392) (7,101,464)

Net (decrease) increase in cash and cash equivalents

(3,102,611)

10,098,129

Cash and cash equivalents at 1 November

27,998,242

17,900,113

24,895,631

27,998,242

Operating activities

NOTES

Investing activities

Purchase of property, plant and equipment Acquisition of Dural Country Club Ltd, net of cash acquired

Net cash flows from operating activities Financing activities Repayment of NAB loan facility Payment for principal portion of lease liabilities Net cash flows used in financing activities

Cash and cash equivalent at 31 October

The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

1. CORPORATE INFORMATION The consolidated financial statements of Parramatta Leagues’ Club Ltd (the “Company“) and its subsidiaries (collectively, the “Group”) for the year ended 31 October 2023 were authorised for issue in accordance with a resolution of the directors on 21 December 2023. Parramatta Leagues’ Club Ltd is a not-for-profit entity limited by guarantee, incorporated and domiciled in Australia. The Company’s registered office and principal place of business is 1 Eels Place, Parramatta, NSW 2150. The nature and operations and principal activities of the Group are described in the directors’ report. Information on other related party relationships of the Group is provided in Note 24. 2. SIGNIFICANT ACCOUNTING POLICIES a. Basis of preparation and statement of compliance These general purpose consolidated financial statements have been prepared in compliance with the requirements of the Corporations Act 2001 and Australian Accounting Standards - Simplified Disclosures. The Group is a not-for-profit entity for the purposes of preparing these consolidated financial statements. The financial report has been prepared on a historical cost basis and is presented in Australian dollars and all values are rounded to the nearest dollar ($). b. Changes in accounting policies and disclosures New and amended standards and interpretations The new and amended Australian Accounting Standards and Interpretations that apply for the first time in 2023 do not materially impact the consolidated financial statements of the Group. Accounting Standards and Interpretations issued but not yet effective Certain Australian Accounting Standards and Interpretations have recently been issued or amended but are not yet effective and have not been adopted by the Group for the annual reporting year ended 31 October 2023. The directors have not early adopted any of these new or amended standards or interpretations. The Group intends adopt these new and amended standards and interpretations, if applicable, when they become effective.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) c. Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at 31 October 2023. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if, and only if, the Group has:

• Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee) • Exposure, or rights, to variable returns from its involvement with the investee • The ability to use its power over the investee to affect its returns

Generally, there is a presumption that a majority of voting rights results in control. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:

• The contractual arrangement(s) with the other vote holders of the investee • Rights arising from other contractual arrangements • The Group’s voting rights and potential voting rights

The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary. Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) c. Basis of consolidation (continued) If the Group loses control over a subsidiary, it derecognises the related assets, liabilities and other components of equity, while any resultant gain or loss is recognised in profit or loss. Any investment retained is recognised at fair value. d. Amalgamations Amalgamations are accounted for in accordance with AASB 3 Business Combinations using the purchase method of accounting. The purchase method of accounting involves assessing the fair value of the assets and liabilities acquired and the contingent liabilities assumed at the date of amalgamation; gains from amalgamation are recognised as a direct addition to amalgamation reserve within equity and any goodwill arising from amalgamation is brought into account as goodwill on amalgamation if such value is sustainable. Amalgamationrelated costs are expensed as incurred and included in general and administrative expense. e. Current versus non-current classification The Group presents assets and liabilities in the consolidated statement of financial position based on current/non-current classification. An asset is current when it is:

• • • •

Expected to be realised or intended to be sold or consumed in the normal operating cycle; Held primarily for the purpose of trading; Expected to be realised within twelve months after the reporting period, or Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as non-current. A liability is current when: • • • •

It is expected to be settled in the normal operating cycle; It is held primarily for the purpose of trading; It is due to be settled within twelve months after the reporting period, or There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

The Group classifies all other liabilities as non-current.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) f. Revenue recognition The Group is in the business of providing sporting, social and entertainment activities and amenities to their members and guests. Revenue from contracts with customers is recognised when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. The Group has generally concluded that it is the principal in its revenue arrangements, because it typically controls the goods or services before transferring them to the customer. Revenue is recognised for the major business activities as follows: i. Sale of goods Revenue from the sale of goods comprises revenue earned from the provision of food, beverage and other goods and is recognised (net of rebates, returns, discounts and other allowances) at the point of sale or delivery as this corresponds to the transfer of control of the goods.

ii. Rendering of services Revenue from rendering of services comprises revenue from gaming facilities together with other services to members and other patrons of the club. Revenue from rendering of services is recognised when the services are provided and is measured at the fair value of the consideration received or receivable.

iii. Sponsorship Revenue from sponsorship is recognised over a period when the Group satisfies a performance obligation by transferring a promised good or service to a customer. Revenue is measured at the fair value of the consideration received or receivable.

iv. Membership income Revenue from membership subscription and future ticket purchases by the members are deferred as unearned income and are brought to account evenly over the course of the membership period in accordance with contractual performance obligations. v. Grants income Government grants received to fund specific programmes arise from an agreement which is enforceable and contains specific performance obligations. Revenue is recognised as income when the performance obligations of the contract are satisfied. Each performance obligation is considered to ensure that the revenue recognition reflects the transfer of a control, there may be some performance obligation where controls transfers at a point in time and others which have continues transfer of control over the life of the contract.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) f. Revenue recognition (continued) v. Grants income (continued) Where control is transferred over time, generally input method of cost is deemed to be the most appropriate method to reflect the transfer of the benefit. Any income received where the performance obligation is not yet satisfied as at reporting date, is recorded as grant in advance. vi. National Rugby League (“NRL”) distribution grant Grants from the National Rugby League are recognised as revenue in the period in which the funding relates to the extent that expenditure has been incurred in accordance with the terms and conditions attached to these grants. vii. Rental income Revenue from rental receipts is recognised in the period the rental relates to and is recorded in accordance with the rental agreement.

viii. Gate receipts Revenue from gate takings is recognised when the match takes place or when services are provided.

ix. Interest income Interest income is

recognised

using

the

effective

interest

rate

(EIR)

method.

Classification and measurement of revenue

Revenue is recognised over time if: • the customer simultaneously receives and consumes the benefits as the entity performs, • the customer controls the asset as the entity creates or enhances it; or • the seller’s performance does not create an asset for which the seller has an alternative use and there is a right to payment for performance to date.

Where the above criteria are not met, revenue is recognised at a point in time.

Contract balances

Contract assets A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognised for the earned consideration that is conditional.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) f. Revenue recognition (continued)

ix. Interest income (continued)

Contract liabilities The Group’s contract liabilities represent membership income in advance. A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before the Group transfers goods or services to the customer, a contract liability is recognised when the payment is made or the payment is due (whichever is earlier). Contract liabilities are recognised as revenue when the Group performs under the contract.

g. Finance income Interest income is recorded using the EIR. The EIR is the rate that exactly discounts the estimated future cash receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset. Interest income is included in finance income in the consolidated statement of profit or loss and other comprehensive income. h. Finance costs Finance costs are expensed in the period in which they occur. Finance costs consist of interest and other costs that the Group incurs and are calculated using the EIR method. i. Cash and cash equivalents Cash and cash equivalents in the consolidated statement of financial position comprise cash at bank and on hand and short-term highly liquid deposits with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. For the purpose of the consolidated statement of cash flows, cash and cash equivalents include cash as defined above. j. Trade and other receivables A receivable represents the Group’s right to an amount of consideration that is unconditional (i.e., only the passage of time is required before payment of the consideration is due). They are generally due for settlement within 30 days and therefore are all classified as current. Trade receivables are recognised initially at the amount of consideration that is unconditional unless they contain significant financing components when they are recognised at fair value. The Group holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortised cost using the EIR method.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) j. Trade and other receivables (continued) For trade receivables, the Group applies a simplified approach in calculating expected credit losses (ECLs). Therefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. k. Inventories Inventories are valued at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale. Costs are assigned on the basis of weighted average costs. l. Property, plant and equipment Capital work in progress is stated at cost, net of accumulated impairment losses, if any. Property, plant and equipment is stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to consolidated profit or loss during the reporting period in which they are incurred. Depreciation on assets is calculated using the straight-line method to allocate their cost or revalued amounts, net of their residual values, over their estimated useful lives or, in the case of leasehold improvements, the shorter lease term as follows: Land Not depreciated Buildings 10 to 40 years Leasehold improvements

20 to 40 years

Plant and equipment

3 to 10 years

Poker machine

3 to 5 years

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. (Note 2.o).

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) l. Property, plant and equipment (continued) Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in the consolidated statement of profit or loss and other comprehensive income. m. Intangible assets Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred. The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. An intangible asset is derecognised upon disposal (i.e., at the date the recipient obtains control) or losses when no future economic benefits are expected from its use or disposal. Any gain or loss arising upon derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the consolidated statement of profit or loss and other comprehensive income. Purchased poker machine entitlements Purchased poker machine entitlements are not amortised. Instead, purchased poker machine entitlements are tested for impairment annually or more frequently if events or changes in circumstances indicate that it might be impaired, and are carried at cost less accumulated impairment losses. Poker machine entitlements acquired by way of club amalgamation are, in accordance with AASB 3 Business Combinations initially brought to account at the date of amalgamation at the fair value at the date; and subsequently accounted for in accordance with the above policy.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) n. Leases The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. i. Group as a lessee The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.

Right-of-use assets

The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows: Car park 79 years

Motor vehicles

3 to 4 years

Other equipments

2 to 5 years

If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset.

The right-of-use assets are also subject to impairment. Refer to the accounting policies in Note 2.o Impairment of assets.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) n. Leases (continued)

i. Group as a lessee

Lease Liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.

Short-term leases and leases of low-value assets The Group applies the short-term lease recognition exemption to its short-term leases (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straightline basis over the lease term.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) n. Leases (continued) ii. Group as a lessor Leases in which the Group does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified as operating leases. Rental income arising is accounted for on a straight-line basis over the lease terms and is included in revenue in the consolidated statement of profit or loss and other comprehensive income due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised over the lease term on the same basis as rental income. Contingent rents are recognised as revenue in the period in which they are earned. o. Impairment of assets Assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial assets that suffered impairment are reviewed for possible reversal of the impairment at the end of each reporting period. p. Investment properties Investment properties, principally comprising freehold buildings, are held for long-term rental yields and are not occupied by the Group. Investment properties are carried at fair value and are based on the directors’ valuation which in turn is subject to third party verification once every three years. The valuations prepared by the external valuer and directors are based on the information that is available at 31 October 2023 (refer to Note 3). q. Trade and other payables These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) r. Borrowings Borrowings are initially recognised at fair value, net of transaction costs incurred. After initial recognition, borrowings are subsequently measured at amortised cost using the EIR method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the consolidated statement of profit or loss and other comprehensive income. For more information, refer to Note 17. Borrowings are removed from the consolidated statement of financial position when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss as other income or finance costs. Borrowing costs are expensed as incurred. s. Employee benefit liabilities Short-term obligations Liabilities for wages and salaries, including non-monetary benefits and annual leave expected to be settled within 12 months after the end of each reporting period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liability for annual leave is recognised in the provision for employee benefits. All other short-term employee benefit obligations are presented as payables. Other long-term employee benefit obligations The liability for long service leave and annual leave which is not expected to be settled within 12 months after the end of the reporting period in which the employees render the related service is recognised in the provision for employee benefits and measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period on high quality corporate bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) s. Employmee benefit liabilities (continued) Superannuation plan The Group contributes to several defined contribution superannuation plans. Contributions are recognised as an expense as they are made. The Group has no legal or constructive obligation to fund any deficit. Termination benefits Termination benefits are payable when employment is terminated before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. The Group recognises termination benefits when it is demonstrably committed to either terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal or to providing termination benefits as a result of an offer made to encourage voluntary redundancy. Benefits falling due more than 12 months after the end of the reporting period are discounted to present value. t. Taxes

i. Current income tax

The income tax expense or revenue for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period where the Company operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) t. Taxes (continued) ii. Deferred tax Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax liabilities are recognised for all taxable temporary differences, except:

• When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; • In respect of taxable temporary differences associated with investments in subsidiaries, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised, except:

• When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; • In respect of deductible temporary differences associated with investments in subsidiaries, deferred tax assets are recognised only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised.

Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses.

Parramatta Leagues’ Club Ltd and its wholly owned Australian controlled entities have implemented the tax consolidation legislation. As a consequence, these entities are taxed as a single entity and the deferred tax assets and liabilities of these entities are set off in the consolidated financial statements.

Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) t. Taxes (continued) ii. Deferred tax (continued) The Group offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. iii. Tax consolidation legislation Parramatta Leagues’ Club Ltd and its wholly-owned Australian entities implemented the tax consolidation legislation as of 1 January 2004.

controlled

The head entity, Parramatta Leagues’ Club Ltd in the tax consolidated group account for their own current and deferred tax amounts. These tax amounts are measured as if each entity in the tax consolidated group continues to be a standalone taxpayer in its own right.

iv. Goods and services tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except:

• When the GST incurred on a sale or purchase of assets or services is not payable to or recoverable from the taxation authority, in which case the GST is recognised as part of the revenue or the expense item or as part of the cost of acquisition of the asset, as applicable • When receivables and payables are stated with the amount of GST included.

The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the consolidated statement of financial position. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the taxation authority.

Cash flows are included in the consolidated statement of cash flows on a gross basis and the GST component of cash flows arising from investing and financing activities, which is recoverable from, or payable to, the taxation authority is classified as part of operating cash flows.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

2. SIGNIFICANT ACCOUNTING POLICIES (continued) u. Parent entity financial information The financial information for the parent entity, Parramatta Leagues’ Club Ltd, is disclosed in Note 27 and has been prepared on the same basis as the consolidated financial statements, except as set out below. Investments in subsidiaries Investments in subsidiaries are accounted for at cost less impairment in the financial statements of Parramatta Leagues’ Club Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

3. SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that may have a financial impact on the entity and that are believed to be reasonable under the circumstances. The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur. Estimated fair values of investment properties The Group carries its investment properties at fair value with changes in the fair values recognised in profit or loss. It obtains independent valuations at least once every three years. The fair value of each property is updated by taking into account the most recent independent valuations. Directors valuation of all investment properties has been made as at 31 October 2023. External valuation was made as at 31 October 2022 by RayWhite (Valuations). The key assumptions used in this determination are set out in Note 15.a. As at 31 October 2022, an independent valuation was performed on all 23 properties. These independent valuations were conducted by Ray White. The valuations were based on the fair value. The critical assumptions adopted in determining the valuations included the impact of the pandemic on the property market and the demand for property in the area, as well as rapidly rising interest rates together with the associated impact on investment, financial and credit markets. This means that the value may change significantly and unexpectedly over a relatively short period of time. Provision for expected credit losses of trade receivables and contract assets The Group uses a provision matrix to calculate expected credit losses (ECLs) for financial assets, specifically trade receivables. The provision rates are based on days past due for groupings of various customer segments that have similar loss patterns (i.e., by geography, product type, customer type and rating, and coverage by letters of credit and other forms of credit insurance).

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

3. SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS (continued) The assessment of the correlation between historical observed default rates, forecast economic conditions and ECLs is a significant estimate. The amount of ECLs is sensitive to changes in circumstances and of forecast economic conditions. The Group’s historical credit loss experience and forecast of economic conditions may also not be representative of customer’s actual default in the future. Leases - Estimating the incremental borrowing rate The Group cannot readily determine the interest rate implicit in the lease, therefore, it uses its incremental borrowing rate (IBR) to measure lease liabilities. The IBR is the rate of interest that the Group would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. The IBR therefore reflects what the Group ‘would have to pay’, which requires estimation when no observable rates are available (such as for subsidiaries that do not enter into financing transactions) or when they need to be adjusted to reflect the terms and conditions of the lease (for example, when leases are not in the subsidiary’s functional currency). The Group estimates the IBR using observable inputs (such as market interest rates) when available and is required to make certain entity-specific estimates (such as the subsidiary’s stand-alone credit rating).

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

4. AMALGAMATIONS Amalgamations in 2023 Acquisition of Dural Country Club Ltd On 18 August 2023, the Group acquired the assets and liabilities of Dural Country Club Ltd through amalgamation. Dural Country Club Ltd is based in Dural, NSW. The Group is deemed to be ‘mutual entities’ (as opposed to ‘investor owned’) with Dural Country Club Ltd. Therefore, as acquirer in the combination of mutual entities, the Group recognises the difference between any consideration paid and the net assets acquired at fair value through the statement of other comprehensive income as an amount that will not be reclassified to profit or loss in subsequent periods. Assets acquired and liabilities assumed - Dural Country Club Ltd The fair values of the identifiable assets and liabilities of Dural Country Club Ltd as at the date of amalgamation were: NOTES

FAIR VALUE RECOGNISED ON AMALGAMATION

Assets Cash and cash equivalents

69,375

Trade and other receivables

5,000

Inventories

29,067

Property, plant and equipment

8,173,216

Intangible assets

855,000 9,131,658

Liabilities Trade and other payables

(153,211)

Employee benefit liabilities

(48,219)

Borrowings

(3,614,442) (3,815,872)

Total identifiable net assets at fair value Gain from amalgamation recognised in equity

5,315,786 20

5,315,786

Cash received (included in cash flows from investing activities)

69,375

Net cash flow on amalgamation

69,375

Analysis of cash flows on amalgamation:

Assets and liabilities are measured on a provisional basis. If new information is obtained within one year of the date of acquisition about facts and circumstances that existed at the date of acquisition, requiring adjustment to assets and liabilities, the accounting for the acquisition may be revised. 50

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

5. REVENUE OF CONTRACTS FROM CUSTOMERS Set out below is the disaggregation of the Group’s revenue from contracts with customers: 2023 $

2022 $

Bar sales

3,004,136

3,070,460

Catering sales

5,472,059

4,794,224

Merchandise Sales

1,121,970

1,173,554

Total sale of goods

9,598,165

9,038,238

Poker machine

49,974,359

54,146,443

NRL distribution

19,138,665

15,433,500

Sponsorship and hospitality

10,683,078

11,106,045

Commissions received

401,916

486,384

Members subscription

172,673

166,370

7,813,480

7,530,458

787,239

539,929

Total rendering of services

88,971,410

89,409,129

Total revenue from contracts with customers

98,569,575

98,447,367

At a point in time

68,173,243

71,261,452

Over time

30,396,332

27,185,915

Total revenue from contracts with customers

98,569,575

98,447,367

Type of goods or services Sale of goods

Rendering of services

Gate ticket sales and membership revenue TenPin sales

Timing of revenue recognition

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

6. OTHER INCOME 2023 $

2022 $

10,000

399,886

982,843

909,857

659,071

1,029,154

739,793

2,021,997

2,708,607

2023 $

2022 $

Bank charges

65,547

62,111

Interest on borrowings

525,157

616,823

Interest on lease liabilities

560,280

551,831

1,150,984

1,230,765

Net gain on disposal of leased asset Net gain on disposal of non-current assets Rent received Investment property revaluation Sundry income

7. EXPENSES a. Finance Costs

Total finance costs

b. Profit before income tax includes the following specific expenses:

Define contribution superannuation expense Rental expenses relating to short-term leases or leases of low-value assets

2023 $

2022 $

3,124,569

2,598,227

210,183

250,405

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

8. INCOME TAX The major components of income tax expense for the years ended 31 October 2023 and 2022 are: 2023 $

2022 $

Consolidated profit or loss and other comprehensive income Current income tax charge:

Relating to the origination and reversal of temporary differences

Income tax expense reported in the consolidated statement of profit or loss

Current income tax charge Deferred tax:

Reconciliation of tax expense and the accounting profit multiplied by Australia’s domestic tax rate for 2023 and 2022: 2023 $

2022 $

Accounting profit before income tax

20,689,972

10,519,325

At Australia’s statutory income tax rate of 30% (2022: 30%)

6,206,992

3,155,798

Non-assessable income

(9,098,731)

(6,718,351)

Non-deductible expenses

4,035,431

5,538,419

Tax losses utilised to offset taxable income

(1,143,692)

(1,975,866)

Income tax expense reported in the consolidated statement of profit or loss

The Group has not recognised deferred tax assets in respect of tax losses that arose in Australia of $10,073,410 (2022: $11,532,029) that are available indefinitely for offsetting against future taxable profits.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

9. CASH AND CASH EQUIVALENTS 2023 $

2022 $

Cash at bank and on hand

15,679,128

27,998,242

Short-term deposits

9,216,503

24,895,631

27,998,242

For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise the above. 10. TRADE AND OTHER RECEIVABLES 2023 $

2022 $

Trade receivables

7,365,649

733,287

Allowance for expected credit losses

(162,588)

(186,788)

7,203,061

546,499

304,581

156,836

1,041,175

1,940,190

8,548,817

2,643,525

Current

Other receivables Prepayments

Set out below is the movement in the allowance for expected credit losses of trade receivables:

2023 $

2022 $

At 1 November

186,788

283,311

Write-off

(24,200)

(96,523)

At 31 October

162,588

186,788

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

11. ASSETS HELD FOR SALE 2023 $

2022 $

Opening balance at 1 November

1,431,681

Disposals

(1,431,681)

Closing balance at 31 October

At fair value

Management have applied the exception to AASB 5 whereby investment property recorded in accordance with AASB 140 Investment Property to carry property at fair value until the date of disposal and therefore have not recognised costs to sell.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

12. PROPERTY, PLANT AND EQUIPMENT POKER MACHINES $

LEASEHOLD IMPROVEMENTS $

CAPITAL WORK IN PROGRESS $

TOTAL $

4,902,235

2,734,408

148,741,254

LAND $

BUILDINGS $

PLANT & EQUIPMENT $

At 1 November 2022

3,610,500

86,458,902

29,768,404

21,266,805

Additions

2,958,319

2,023,372

1,475,554

3,119,664

9,576,909

Acquisition of Dural Country Club Ltd (Note 4)

8,000,000

173,216

8,173,216

Disposals

(74,000)

(50,156)

(124,156)

At 31 October 2023

3,610,500

97,417,221

31,717,776

22,915,575

4,902,235

5,803,916

166,367,223

Cost

Accumulated depreciation At 1 November 2022

38,540,095

21,544,045

17,383,386

3,560,306

81,027,832

Depreciation charge for the year

2,395,542

2,535,182

1,946,943

163,079

7,040,746

Disposals

(74,000)

At 31 October 2023

40,935,637

24,005,227

19,330,329

3,723,385

87,994,578

At 31 October 2023

3,610,500

56,481,584

7,712,549

3,585,246

1,178,850

5,803,916

78,372,645

At 31 October 2022

3,610,500

47,918,807

8,224,359

3,883,419

1,314,929

2,734,408

67,713,422

Net book value

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

13. INTANGIBLE ASSETS

PURCHASE POKER MACHINE ENTITLEMENTS $

Cost At 1 November 2022

835,000

Acquisition of Dural Country Club Ltd (Note 4)

835,000

At 31 October 2023

1,690,000

Accumulated amortisation and impairment At 1 November 2022 and 31 October 2023

Net book value At 31 October 2023

1,690,000

At 31 October 2022

835,000

14. LEASES Group as a lessee The Group has lease contracts for car park, building, motor vehicles and other equipments used in its operations. Leases of motor vehicles generally have lease terms between 3 and 4 years, while other equipments generally have lease terms of 2 and 5 years. The car park and part of the Group’s premises are situated on land leased from the Parramatta Regional Park Trust. The lease is for a term of 49 years from 5 March 1999 with a 49 year option at its expiration. The lease rental is subject to review annually for CPI and a review every five years. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Group is restricted from assigning and subleasing the leased assets and some contracts require the Group to maintain certain financial ratios. There are several lease contracts that include extension and termination options and variable lease payments. The Group also has certain leases of plant and equipment with lease terms of 12 months or less or with low value less than $5,000. The Group applies the ‘short-term lease’ and ‘lease of low-value assets’ recognition exemptions for these leases.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

14. LEASES (continued) Set out below are the carrying amounts of right-of-use assets recognised and the movements during the year: CARPARK $

MOTOR VEHICLES $

OTHER EQUIPMENTS $

TOTAL $

12,352,606

132,443

9,127

12,494,176

Additions

42,715

Modifications

(1,711)

(171,664)

(105,438)

(9,127)

(286,229)

(17,804)

12,180,942

50,205

At 1 November 2022

Depreciation expense Disposals At 31 October 2023

(17,804) -

12,231,147

2023 $

2022 $

656,467

678,684

Later than 1 year and not later than 5 years

2,409,959

2,424,924

Later than 5 years

41,264,113

41,853,577

44,330,539

44,957,185

Presented below is a maturity analysis of future lease payments:

Not later than 1 year

The amount of expense relating to short-term leases and leases of low-value assets recognised in profit or loss during the year ended 31 October 2023 was $ 210,183 (2022 : $ 250,405). Group as a lessor Some of the investment properties are leased to tenants under long-term operating leases with rentals receivable monthly. Minimum lease payments receivable on leases of investment properties are as follows:

2023 $

2022 $

Not later than 1 year

348,328

391,019

Later than 1 year and not later than 5 years

146,214

398,555

494,542

789,574

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

15. INVESTMENT PROPERTIES 2023 $

2022 $

17,501,403

17,470,666

Disposals

(562,389)

Net gain on disposal of non-current assets

(65,945)

Gain on revaluation

659,071

17,501,403

At fair value Opening balance at 1 November

Closing balance at 31 October

a. Valuation basis As at 31 October 2023, the fair values of the properties are based on directors valuations. 2022 valuations were performed by an accredited independent valuer. The best evidence of fair value is current prices in an active market for similar investment properties. Where such information is not available, the directors consider information from a variety of sources including: i. ii. iii.

current prices in an active market for properties of different nature or recent prices of similar properties in less active markets, adjusted to reflect those differences discounted cash flow projections based on reliable estimates of future cash flows capitalised income projections based upon a property’s estimated net market income, and a capitalisation rate derived from an analysis of market evidence.

b. Non-current assets pledged as security Refer to Note 17 for information on non-current assets pledged as security by the Group. c. Leasing arrangements Please refer to Note 14 for details relating to leasing arrangements of the Group as a lessor. The following are core properties:

• 13 - 15 O’Connell Street, Parramatta NSW 2150 • 35 Quarry Road, Dundas NSW 2117 • 662A Old Northern Rd, Dural NSW 2158

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

15. INVESTMENT PROPERTIES (continued) c. Leasing arrangements (continued) The following are non-core properties: • 6 - 8 Grose Street, Parramatta NSW 2150 • 2 Eels Place, Parramatta NSW 2150 • 10 - 12 Grose Street, Parramatta NSW 2150 • 50 O’Connell Street, Parramatta NSW 2150 (Ground Floor) • 3C Trott Street, Parramatta NSW 2150 • Units 1, 2, 3, 4, 5, 8, 9, 10 and 11 at 19 - 21 O’Connell Street, Parramatta NSW 2150 • Units 1, 2, 3, 4 and 5 at 17 O’Connell Street, Parramatta NSW 2150 • Units 3 and 4 at 50 - 52 Ross Street, Parramatta NSW 2150 16. TRADE AND OTHER PAYABLES 2023 $

2022 $

Trade payables

1,875,182

2,749,568

Accrued expenses

6,292,853

7,758,948

GST payable

1,273,583

514,458

9,441,618

11,022,974

2023 $

2022 $

Unsecured notes

315,614

296,708

NAB loan facility (i)

4,530,000

5,386,012

4,845,614

5,682,720

NAB loan facility (i)

9,468,823

Total used facility

4,845,614

15,151,543

Current

17. BORROWINGS

Current

Non-Current

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

17. BORROWINGS (continued)

2023 $

2022 $

Total facilities available

19,045,026

23,865,530

Unused facility

(14,199,412)

(8,713,987)

4,845,614

15,151,543

4,530,000

14,854,835

Secured liabilities and assets pledged as security The total secured liabilities (current and non-current) are as follows: NAB loan facility (i)

(i) NAB loan facility The NAB loan facilities include $10.9 million ($4.5 million drawn) Corporate Markets Loans funding capital projects, $5.5 million ($0.0 million drawn), $2.0 million ($0.0 million drawn) master asset finance facility and $0.4 million ($0.2 million drawn) in other NAB facilities. There is also $0.3 million ($0.3 million drawn) other non-NAB unsecured facilities. All assets are secured against NAB loan facility. The terms and conditions of the above facilities are as follows: NAB loan facilities rate for corporate markets loan were 5.2000% (including 0.90% facility fee) (2022: 4.8363% (including 0.90% facility fee)) at 31 October 2023 with a maturity date of 30 November 2025. The Group also has undrawn master asset facility of $2 million.

18. EMPLOYEE BENEFIT LIABILITIES

2023 $

2022 $

1,820,959

1,805,229

882,671

687,947

2,703,630

2,493,176

391,537

415,015

Current Annual Leave Long service leave

Non-current Long service leave

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

18. EMPLOYEE BENEFIT LIABILITIES (continued) The present value of employee benefits not expected to be settled within 12 months of reporting date have been calculated using the following weighted averages:

Assumed rate of increase in wage and salary rates Discount rate Settlement term (years)

2023 $

2022 $

3.51%

2023 $

2022 $

2,136,556

1,917,878

103,353

2,136,556

2,021,231

278,293

267,984

19. CONTRACT LIABILITIES

Current Membership income received in advance Sponsorship and hospitality income received in advance

Non-current Membership income received in advance

20. RESERVE AMALGAMATION RESERVE $ At 1 November 2022

Gain on amalgamation of Dural Country Club Ltd

5,315,786

At 31 October 2023

5,315,786

Nature and purpose of reserve Amalgamation reserve The amalgamation reserve represents the gain arising on the amalgamation of Dural Country Club Ltd in the current financial year. 62

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

21. COMMITMENTS AND CONTINGENCIES a. Capital commitments Significant capital expenditures contracted for at the end of the reporting period but not recognised as liabilities are as follows:

Property, plant and equipment

2023 $

2022 $

55,061,891

1,191,040

The Group has committed to a total capital expenditure of $58,059,416 for the construction of the Parramatta Eels Centre of Excellence and Community Facility, of which $4,140,589 has been paid to date and $3,790,112 remains in contingencies and non-contracted project costs. Located at Kellyville Park in North Western Sydney, the new development will provide state of the art facilities for all forms of the game for men and women at the community and elite level and enhances the Eels commitment to grow participation in Rugby League. Expected completion date is 2025. The centre was made possible due to combined Federal, State and Local Government grants of $49,560,000 of which $18,000,000 has been received to date. The rest of commitment will be self-funded. The Group has also entered into contracts totalling $4,932,591 for the repair of the roof and renovation works at the Parramatta Leagues’ Club Ltd and Dural Country Club Ltd venues (2022: $1,191,040). b. Lease commitments: Group as a lessee The Group has no lease contracts that have not yet commenced as at 31 October 2023 (2022: none). c. Contingent liabilities A claim was lodged against Parramatta National Rugby League Club Pty Limited, a subsidiary of Parramatta Leagues’ Club Ltd, by the Liquidator of a former supplier in May 2021. The directors have obtained legal advice with respect to this matter. After considering the advice, the directors do not believe that Parramatta National Rugby League Club Pty Limited has any further obligations in relation to this matter. The Group had no other contingent liabilities at 31 October 2023 (2022: none).

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

21. COMMITMENTS AND CONTINGENCIES (continued) d. Remuneration commitments 2023 $

2022 $

12,538,803

10,280,100

The Group has entered into contracts with players with respect to subsequent seasons, whereby certain minimum amounts are payable. The minimum amounts payable are as follows: Within one year

Amounts contracted beyond one year are cancellable under certain conditions and therefore not reflected. Match payments are payable in varying circumstances, in addition to the above amounts. 22. BANK GUARANTEES The Group maintains a credit facility amounting to $ 100,000 (2022 : $ 100,000) with National Australia Bank (NAB), maturing on 28 February 2024. This facility bears a weighted average interest rate of nil% (2022 : nil%) and the unused facility is $nil (2022 : $nil). 23. SUBSIDIARIES The consolidated financial statements of the Group include the following subsidiaries: % EQUITY INTEREST

COUNTRY OF INCORPORATION

2023

2022

Parramatta National Rugby League Club Pty Limited

To compete in the National Rugby League competition and to encourage, promote and control the development, playing and interests of rugby league football.

Australia

100%

Parramatta Power Soccer Club Limited

The Club does not trade and hasn’t had any activity since 2006.

Australia

100%

NAME

PRINCIPAL ACTIVITIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

24. RELATED PARTY DISCLOSURES The parent and ultimate parent entity within the Group is Parramatta Leagues’ Club Ltd . a. Board of Directors During the year, the Company paid the directors an amount of $ 163,933 (2022 : $ 163,370) which includes superannuation as remuneration for services provided in their roles as the Board of Directors. Apart from the remuneration outlined above, the Company did not enter into any further contract with the Board of Directors, nor were there any transactions entered into between the Company and a related party of the Board of Directors. b. Key management personnel compensation Compensation expense of key management personnel amounted to $2,992,760 during the year ended 31 October 2023 (2022: $3,056,064). The amount includes payments made to key management personnel for the services performed in their capacity as CEO, CFO, COO, CCO, General Manager of Football and Head Coach during the year ended 31 October 2023.

(i) Transactions with key management personnel From time to time key management personnel of the Company , or their related entities, may sell goods or provide services to the Group. The Group makes these purchases on the same terms and conditions as other non-key management personnel related transactions. There are no outstanding balances from the above transactions entered into with key management personnel or their related parties.

25. EVENTS AFTER THE REPORTING PERIOD There have been no significant events occurring after the reporting period which may affect either the Group’s operations or results of those operations or the Group’s state of affairs.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

26. AUDITORS REMUNERATION The auditor of Parramatta Leagues’ Club Ltd is Ernst & Young (Australia). 2023 $

2022 $

An audit of the financial report of the entity

179,400

145,520

Compilation of financial statements

13,200

12,600

Taxation services

64,400

46,000

257,000

204,120

Amounts received or due and receivable by Ernst & Young (Australia) for:

27. INFORMATION RELATING TO THE PARRAMATTA LEAGUES’ CLUB LTD (THE PARENT) Summary financial information The individual financial statements for the parent entity show the following aggregate amounts: 2023 $

2022 $

Current assets

16,251,068

29,094,967

Non-current assets

105,187,356

95,738,726

121,438,424

124,833,693

Current liabilities

9,263,360

16,139,260

Non-current liabilities

17,628,896

22,628,991

Total liabilities

26,892,256

38,768,251

Net assets

94,546,168

86,065,442

Retained earnings

89,230,382

86,065,442

Amalgamation reserve

5,315,786

Total members’ fund

94,546,168

86,065,442

Profit for the year

3,164,940

8,858,110

Total comprehensive income

3,164,940

8,858,110

Total assets

Members’ equity

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

27. INFORMATION RELATING TO THE PARRAMATTA LEAGUES’ CLUB LTD (THE PARENT) (continued) Guarantees entered into by the parent entity The Company has not entered into any guarantee contracts during the current financial year (2022: $nil).

DIRECTORS’ DECLARATION In accordance with a resolution of the directors of Parramatta Leagues’ Club Ltd, I state that: In the opinion of the directors: a. the consolidated financial statements and notes of Parramatta Leagues’ Club Ltd for the financial year ended 31 October 2023 are in accordance with the Corporations Act 2001, including:

i. giving a true and fair view of the Group’s financial position as at 31 October 2023 and its performance for the year ended on that date; and ii. complying with Australian Accounting Standards - Simplified Disclosures and the Corporations Regulations 2001;

b. there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. On behalf of the board

Gregory Monaghan

Director Sydney 21 December 2023

AUDITOR’S INDEPENDENT REPORT Ernst & Young 200 George Street Sydney NSW 2000 Australia GPO Box 2646 Sydney NSW 2001

Tel: +61 2 9248 5555 Fax: +61 2 9248 5959 ey.com/au

Independent auditor’s report to the members of Parramatta Leagues Club Limited and its subsidiaries Opinion We have audited the financial report of Parramatta Leagues Club Limited (the Company) and its subsidiaries (collectively the Group), which comprises the consolidated statement of financial position as at 31 October 2023, the consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, notes to the financial statements, including a summary of significant accounting policies, and the directors’ declaration. In our opinion, the accompanying financial report of the Group is in accordance with the Corporations Act 2001, including: a.

Giving a true and fair view of the consolidated financial position of the Group as at 31 October 2023 and of its consolidated financial performance for the year ended on that date; and

Complying with Australian Accounting Standards – Simplified Disclosures and the Corporations Regulations 2001.

Basis for opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial report section of our report. We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Information other than the financial report and auditor’s report thereon The directors are responsible for the other information. The other information is the directors’ report accompanying the financial report. Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of the directors for the financial report The directors of the Company are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards – Simplified Disclosures and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation

the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the financial report, the directors are responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

►

Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

►

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.

►

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

►

Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern.

►

Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.

►

Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the financial report. We are responsible for the direction, supervision and performance of the Group audit. We remain solely responsible for our audit opinion.

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation

AUDITOR’S INDEPENDENT REPORT

We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Ernst & Young

We communicate with the directors regarding, among other matters, the planned scope and timing of Daniel Cunningham the audit and significant audit findings, including any significant deficiencies in internal control that we Partner identify during our audit. Sydney 21 December 2023

Ernst & Young

Daniel Cunningham Partner Sydney 21 December 2023

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation 71

SERVICE

PASSION

OPENNESS

RESPECT

TEAMWORK

1 Eels Place, Parramatta (02) 8833 0777 parraleagues.com.au

35 Quarry Road, Dundas Valley (02) 9638 1326 vikingssportsclub.com.au

662A Old Northern Road, Dural (02) 9651 1600 duralcountryclub.com.au