Investment Fund Manager + Private Capital Partner in the Australian Commercial Property Sector

“

We’re large enough to offer you the expertise, industry leadership, and governance expected of major financial institutions, but we are small enough to ensure both borrowers and investors have direct access to all team members when required.”

MARK ROBERTS Group Executive Chairman

Welcome to PrivateInvest

PrivateInvest was established over a decade ago to provide investment opportunities to wholesale and sophisticated investors through its lending to qualified borrowers in the Australian commercial property sector.

At PrivateInvest, we combine the best of large and small-sized financial service providers to deliver a personalised service to both investors and borrowers. As an investment fund manager in non-bank lending with an impressive pedigree in funds management, we are large enough to offer you the expertise, industry leadership, and governance expected of major financial institutions, but are small enough to ensure both borrowers and investors have direct access to all team members when required.

Our specialist finance team have extensive experience in structuring commercial property finance. Our investments provide capital for tailored property financing solutions to qualified borrowers in the middle development market segment and is supported by our professional services. With PrivateInvest, it’s personal.

We have an exclusive focus on real estate and commercial property development opportunities, offering a range of investment funds that provide market exposure to a professionally managed and nationally diversified portfolio of commercial property finance.

From a borrower’s perspective, our property specialisation and tailored approach to designing and delivering financing solutions means developers, investors and other stakeholders have access to value-adding,

structured finance from a team who genuinely understands property and the issues that drive project success.

To date, our funds have returned above-market risk adjusted rates of return and we have seen real loan book growth. This reflects a number of factors, not least of which is the skill of our Trustee Board, our technical management team and our Investment Review Committee who provide an exceptional competitive advantage in terms of loan and opportunity assessment, financial product design, and governance processes.

As our Funds grow in scale, the strategic objective for PrivateInvest is to maintain our BIG ENOUGH. SMALL ENOUGH. market position. PrivateInvest does not have to be the “biggest in town”, just strive to be the best in class and sector. Our objective is to be an optimum business model. The definition of “optimum” is: best, most likely to bring success or advantage. Our strategic objective benefits all stakeholders by having the right size resources to maintain being a transparent, trustworthy, forward-thinking and valuesbased investment business.

Yours faithfully,

Mark Roberts Group Executive Chairman

PrivateInvest –Investment Company

The loan portfolio platform has been grown in a measured way with investment returns forecasted to increase with the rise in wholesale interest rates. The loan portfolio spreads risk as it is across different Australian States, diversified by asset type, class, borrower local postcode locations.

Big enough. Small enough.

PrivateInvest is an Investment Fund Manager + Private Capital Partner to the Australian commercial property sector. Unlike traditional banks, we only finance projects in the property industry and with a broader range of structured property finance. We combine the best of large and small-sized financial service providers to offer investors and borrowers an investment offering similar to larger institutional financial houses, but small enough that we can keep an active eagle eye over all of our property transactions.

Investment Fund Manager + Private Capital Partner to the Property Sector

At PrivateInvest we offer wholesale and sophisticated investors the choice of four Fund/Trusts which provide investors a range of income returns, income distribution frequency and liquidity. Our investors have received above industry average risk adjusted returns, with no loss of capital or impairment in our history. We have established repeat business with our borrowers which are offered a range of structured finance solutions to meet the requirements of their project financing needs.

National Footprint and Diversification

We are big enough to have an Australian national portfolio of investment and finance providing investors and borrowers diversification by asset type, class, market location and entry timing but small enough that we that have a very “hands on” approach to the business. PrivateInvest lends against property residual stock, development and construction, and site finance.

Time is Money

We are big enough to have capital underwriting which benefits our investors by lowering the risk when a Fund/Trust has excess cash reserves which dilute investment returns. Capital underwriting allows borrowers the confidence to sign finance offers that are not subject to capital raising. We are still small enough that borrowers can talk direct to the credit decision makers which improves approval times.

Highly Experienced Team

We know property. Our specialist finance team has decades of property experience in structuring equity and debt for property transactions at leading investment firms and institutions. The combined experience extends across banking, direct development, construction, valuation and credit analysis. We are exceptionally placed to identify, assess, and work with qualified borrowers seeking finance for a range of development property projects across Australia.

Governance and Reporting

Our Trustee Board has Non-Executive Directors overseeing our highly skilled management team with additional oversight from our Investment Review Committee. PrivateInvest’s flexible risk assessment model is bolstered by our robust internal and external controls that oversee all aspects of the business including external independence, risk analysis and mitigation, regulatory compliance and backed up by institutional grade investor reporting.

Our Sector and Our Business

With over five years track record, the PrivateInvest Fund and Trusts are now also capitalising on the higher inflation environment and rising interest rates equating to increasing returns to our PrivateInvest investors.

About PrivateInvest

■ PrivateInvest is an Investment Fund Manager + Private Capital Partner in the Australian commercial property sector.

■ Over six years of direct funds management track record since inception of our first Fund.

■ PrivateInvest investor base has more than 140 investors made up of sophisticated and professional investors including high net, ultra-high net and Family Offices. PrivateInvest is now expanding its investor base to select investors while remaining committed to our existing investors.

Secure Track Record

■ No impairments or capital losses since inception with a high focus on capital preservation.

■ Returning above industry average risk-weighted returns.

■ Established national database of commercial brokers (for new loans).

■ More than 50% of our investor base have increased their investment in PrivateInvest Funds since their first investment, evidencing their conviction in the Funds’ performance and track record

Tailwind Market Growth

■ S&P Global estimates that the global private debt market has grown tenfold in the past decade, however, remains relatively immature in Australia.

Growing Market

Segment in Australia

■ As ADI Banks are subject to more stringent lending and capital requirements, their market share of the Australian CRE debt market is falling.

■ Non-Bank Lending in Australia reached a record high of $287.94 billion in 2021-22 and is forecast to grow 16.92% through to 2026-27 ($336.67 billion).

Activating the Next Stage of Growth

■ After 5 years of methodically building the business investment model, we are now ready to grow. Target forecast Loans Under Management (“LUM”) at FY YR End June 2026 is $630 million with target Funds Under Management (“FUM”) $450 million at FY YR end 2026 writing average 34 loans per annum over 3 years at average Loan size of $12 million. This is based off a strong platform established since inception.

Non-Bank Lending –Commercial Real Estate

Non-Bank Lenders will be required to fund more than $50 billion in the Australian CRE debt market from 2021-2024.

Around the World:

■ S&P Global estimates that the global private debt market has grown tenfold in the past decade (2011-2021).

■ In 2008, in the US and Europe, Banks held a 55% share of first mortgage lending (Non-Bank Lending 45%). By 2019, this composition had inverted to 21% and 79%.

■ According to the European Central Bank, since the GFC in 2008, “the overall growth in financial assets can almost entirely be traced to non-bank entities which now represent more than half of the total financial asset holdings in the euro area”.

A demonstrated global shift in the deployment of debt via Non-Bank Lenders has seen investors realign their portfolio strategy through:

■ An emergence of demand towards private debt funds and away from volatile equities markets, meaning lower volatility and stable, riskadjusted returns.

■ Overseas investors, particularly Asian domiciled, are taking advantage of Australia’s growing Non-Bank Lending sector. For example, in 2021, Hong Kong investment giant Sun Hung Kai & Co created a $400 million real estate debt fund with a large focus on the Australian market.

Non-Bank Lending Sector Growth In Australia

Source: Ibis World (2022) Historical Forecast

In the Australian Market

■ Traditionally in Australia, NonBank Lenders have had limited exposure to large capital mandates, restricting their market share compared to Banks which have regular access to cheaper and more diversified funding e.g. deposits.

■ The market share of Australia’s ‘Big Four’ Banks in CRE lending is falling, currently at 70.3% in Q2 2022 and well below its 10-year average of 78.2%.

■ Driving the falling market share is a lack of appetite for early-stage construction and land subdivision loans, with Banks restricting first mortgage LVRs to 50-55% compared to their Non-Bank peers which remain at 60-65% LVR.

Given the prevailing local market conditions, coupled with the demonstrated success of the sector globally:

■ Non-Bank Lenders, which are not subject to increased regulation brought about by changes in APRA lending guidelines, are now attracting further institutional capital, for example:

+ Qualitas $700m Australian CRE mandate from ADIA (2022).

+ MaxCap ~$1b Australian CRE mandate from Apollo Global Management (2022).

■ Non-Bank Lending reached a record high of $287.94 billion in 2021-22 and is forecast to grow 16.92% through to 2026-27 ($336.67 billion).

Target Returns

8.25% to 9.25% per annum, post fees and expenses.

PrivateInvest

First Mortgage Income Fund

MONTHLY INTEREST RETURNS PAID INTO YOUR BANK ACCOUNT

This Fund is a pooled, open-ended, unregistered Unit Trust for wholesale and sophisticated investors. Distributions are paid monthly.

The objective of the Fund is to provide wholesale and sophisticated investors with a professionally managed exposure to a nationally diversified portfolio of commercial finance secured by registered first mortgages over real estate.

The Fund has always met its target returns since inception over five years ago with a strong focus on capital preservation and liquidity.

This Fund is “pure play” meaning there is no subordinated debt in the Fund, or debt leverage to bolster the investment returns.

There have been no impairments, or loss of capital in the Fund.

Target Returns

7.50% to 11.00% per annum, post fees and expenses.

PrivateInvest Select Mortgage Trusts

YOUR CHOICE ON SELECTING AND INVESTING INTO INDIVIDUAL LOANS

The Trusts are mortgage trusts, structured as an unregistered Unit Trust, for wholesale and sophisticated investors.

A mortgage trust allows you to select the loan, or loans, you wish to invest in secured by registered first mortgages over real estate.

You can invest in Units in the Trust alongside others that are syndicated to the specific Loan you select. In this way, you can effectively select the level of participation you have, and which of the loans you invest in.

Other lenders can also syndicate in the loan under bi-lateral facility agreements with PrivateInvest.

Target Returns

15.00% to 21%per annum, post fees and expenses.

PrivateInvest + Capital Trusts

Target Returns

Case by Case - Minimum 25% per annum

PrivateInvest Special Situations Trust

FOR INVESTORS THAT UNDERSTAND THE CORRELATION OF HIGHER RETURNS AGAINST HIGHER RISKS

PrivateInvest First Mortgage Income Fund/ Trusts do not offer second mortgage or preferential equity. The PrivateInvest + Capital Trusts fills this void, providing qualified borrowers financial services across the capital stack.

Property is a capital-intensive industry and many large listed and unlisted development entities use different forms of project finance as it generally cheaper than common equity.

Our PrivateInvest Capital Partnership Platform provides pre-qualified developers access to trusted recurrent capital in order to scale their company without diluting shareholder equity.

FOR INVESTORS THAT UNDERSTAND INVESTMENT AND RISK STRATEGY THAT ARISES FROM SPECIAL SITUATION INVESTMENTS.

This event driven investment strategy, also called special situations, refers to opportunities that arise from material changes in market conditions, poor Borrower / Sponsors that experience an inability to refinance, projects that go into receivership and other lenders that approach PrivateInvest and wish to sell their existing loans at a discount to market.

The PrivateInvest team has deep prior experience from working for institutional firms dealing with special situations that require capital solutions spanning the spectrum of debt and equity.

These investment opportunities arise from time to time and investment opportunities are offered to investors that have registered prior to receive the Investment Information Memorandum.

For more information on how to register contact Mark Roberts direct:

Phone: + 61 419 74 55 44

Email: mark.roberts@privateinvest.com.au

PrivateInvest First Mortgage Income Fund

INVESTMENT STRUCTURE

The Fund is a pooled, open-ended, unregistered mortgage Unit Trust for wholesale and sophisticated investors, meaning it is always open for investment.

FIRST MORTGAGE INCOME FUND

The Fund is a “Pure Play” First Mortgage Income Fund with a high focus on capital preservation and with no subordinated debt to bolster investors returns that brings additional risk to the Fund.

STABLE REGULAR INCOME

Distributions are paid monthly or can be reinvested into the Fund.

INVESTMENT RETURNS

The Fund targets a return between 8.25% and 9.25% per annum, post fees and expenses.

FUND PERFORMANCE

The Fund has met its target returns since inception over five years ago with a strong focus on capital preservation and liquidity. Whilst historical performance is not necessarily an indication of future performance, the investment return is expected to increase with the rise in wholesale interest rates in Australia.

YIELD QUALITY AND STABILITY

First mortgage registered security aligned with a rigorous credit approval process and properly priced lending interest rates that support stable investment distributions.

LOAN SIZE AND TERM

These loans are generally in the $3 million to $25 million loan size range, with an average loan size of $6 million to $8 million which has the highest market demand and is considered the “unloved sector” as the amount is too small for bigger Funds. Average loan facility is generally 12 months which avoids the risk of loans with longer tenure trading through different property cycles.

LOAN ORIGINATION

PrivateInvest has an extensive database of finance brokers and industry professionals providing the PrivateInvest loan origination team a solid weekly national supply of new loans allowing the team to “handpick” the right loans.

LOW ON RISK CURVE

Average weighted sub 65% LVR on registered first mortgages, supported by Directors or personal guarantees, which further increases the security pool and hedges against default recovery and downside risk in declining markets.

PORTFOLIO REPAYMENT STRATEGY

Targeting commercial and industrial loans with less weighting on residential loans. Loans usually have a bridging strategy with refinance by mainstream ADI Banks. Another loan exit strategy is sale into Real Estate Investment Trusts.

LIQUIDITY

Investors can redeem their investment in part or in full whenever one of the Fund’s underlying loans matures or by new investor subscriptions. Loans are constantly maturing and new capital inflow provides excellent liquidity. There is no lock-up period and no entry and exit fees.

INVESTMENT AND FACILITY MANAGEMENT EXPERTISE

The PrivateInvest team has decades of technical management experience in funds management, property development, valuation, property asset management and banking gained from prior work in the public and private financial sectors.

MANAGEMENT FEES AND TRUSTEE FEES

Management fee of 1.95% per annum payable monthly in arrears, calculated on the total Funds Under Management. The Trustee is entitled to an annual fee of 0.25% of the drawn loan balance of the Fund, payable monthly in arrears, subject to a minimum payment of $6,000.

GOVERNANCE AND COMPLIANCE

For a wholesale fund, we adopt a retail fund manager mindset. As an example, the pooled fund is a wholesale fund that does not require to be audited, unlike retail funds, but we choose to have the fund audited as a further level of quality governance. Our Trustee Board has Non-Executive Directors overseeing our highly skilled management team with additional oversight from our Investment Review Committee. This is all backed up by institutional grade investor reporting.

MINIMUM INVESTMENT

Minimum application $100,000, and thereafter in $10,000 multiples. This can be altered at the Trustee discretion.

Your Choice on Selecting and Investing Into Individual Loans.

PrivateInvest Select Mortgage Trusts

To invest in individual loans rather than a pooled fund, you have the option to invest in units in the Trust, alongside others, that are syndicated to the specific loan you select.

Choosing to invest in a specific loan allows you to effectively select the level of participation you have and which loans you with to invest in. For substantial investors like Family Offices or Private Banks seeking exclusive investment opportunities, we can arrange a Mandate Agreement to facilitate the sourcing of loans.

■ Preferred target return: Linked to the specific loans you invest in.

■ Asset Class: (Commercial, Industrial, Office, Retail, Residential, Land – Residential, Land –Commercial / Industrial)

■ Size of Investment: ($1-$5m, $5-$10m, $10-25m, $25m+)

■ Capital Availability: (Immediate, 1-3 months, 6 -12 months)

■ Location: (NSW, QLD, VIC, WA, NT, SA, TAS)

■ Investment Term: (Less then 1 year, 1-2 years, greater than 2 years)

■ Interest payment: (Paid monthly, prepaid or capitalised)

■ Construction exposure: (Yes / No)

■ Investor: (Company / Individual / Trust / Partnership)

■ Resident of Australia for tax purposes: (Yes / No)

■ Withholding tax applicable: (Yes / No)

Your Investment, Your Allocation, Your Choice

■ Allocation between the “pure play” First Mortgage Income Fund and Second Mortgage Trusts allows investors the flexibility to increase returns and balance risk appetite.

■ PrivateInvest’s point of difference is that it does not have subordinated debt in the PrivateInvest First Mortgage Income Fund (Pooled Fund) to increase investment returns. Subordinated debt in the First Mortgage Income Fund increases the underlying risk to investors and ultimately, the investor loses control of the allocation between first and second mortgage debt.

■ PrivateInvest provides investors the options to invest in second mortgage products alongside the PrivateInvest First Mortgage Income Fund by allocation between the two investment products.

Your Investment, Your Allocation, Your Choice.

First Mortgage Assumed Target Returns: 8.50% p.a. post fees and expenses. Second Mortgage Assumed Target Returns: 18.00% p.a. post fees and expenses.

An investor placing an allocation of 90% in the First Mortgage Income Fund and 10% in the Second Mortgage Trust would receive an aggregate return of 9.45% per annum, post fees and expenses. It is not unusual to see first mortgage funds by PrivateInvest competitors have subordinated debt in their Fund on a 75% first / 25% second basis but still produce similar returns to the current PrivateInvest First Mortgage Income Fund which is a “pure play” first mortgage only.

PrivateInvest + Capital Trusts

PrivateInvest offers second mortgage or preferential equity.

The PrivateInvest First Mortgage Fund/Trusts do not offer second mortgage or preferential equity. In response to this, PrivateInvest + Capital Trusts fills this void to offer a broader spectrum of financial solutions to eligible borrowers across various tiers of capital investment.

PrivateInvest + Capital Trusts present a unique opportunity for investors who are inclined to venture further along the risk curve. By providing registered second mortgage and preferential equity placements, PrivateInvest + Capital Trusts provides investors the opportunity for higher returns. These loans are often structured to accommodate the participation of multiple investors, which can be a mutually beneficial arrangement for those seeking to diversify their investment portfolio. This collaborative approach caters to the diverse needs of both borrowers and investors.

In the News –PrivateInvest Insights

PrivateInvest has taken a position to adopt educational and research activities to pursue and promote investment topics that have interest to our investors and provides quality information on financial markets and related topics.

The first PrivateInvest Insights event interviewed Nathan Lynch. Nathan is described as a financial crime expert, international speaker and author of the “Lucky Laundry: How the Aussie economy got hooked on the world’s dirtiest cash”, published by Harper Collins. Nathan specialises in the fields of Financial Crime Intelligence, Anti-Money Laundering, Counter-Terrorism Financing and Regulatory Risk. Nathan leads a team of experts who provide breaking news, deep analysis and practical guidance to more than 25,000 subscribers in the global financial services sector. He manages Thomson Reuters’ awardwinning Regulatory Intelligence team across the Asia-Pacific region, tracking in financial services law, AML/CTF and risk management.

The evening was a fascinating insight into investigative journalism as Nathan peeled the layers of complex financial crime schemes and made them accessible to a ‘layman’ audience. He took the audience through ingenious techniques the world’s criminals use to amass, conceal and clean their illicit wealth. He covered the most notorious international wash-houses,

where proceeds of crime weave their way to the sunny shores of Australia.

In June 2023, PrivateInvest held its second PrivateInvest Insights event, this time Mark Roberts interviewing Damon Kitney

Damon Kitney, a distinguished Australian journalist, is widely recognized for his incisive business reporting. With a career spanning decade, he has contributed significantly to prominent publications, offering in-depth insights into corporate affairs, finance, and leadership. Damon is the author of the bestselling biography of James Packer. The event was nothing short of extraordinary. With unparalleled expertise, he took attendees on a captivating journey into the realm of business journalism, sharing riveting accounts of his interactions with the country’s foremost business magnates.

The evening was a masterclass in insightful storytelling, where Damon’s narratives painted vivid portraits of top-tier wealthiest families in Australia. Through his words, the audience gained unique perspectives into the minds of these business luminaries, making the event an invaluable and unforgettable experience.

PrivateInvest Value Promise

When PrivateInvest was created over a decade ago, our goal and promise was the same as it is today: to be a transparent, trustworthy, and forward-thinking values-based investment business with a strong culture that is always challenging the status quo, leveraging its best asset, its people, and producing above industry average risk adjusted returns.

Over the past decade, PrivateInvest, as a family office driven initiative, has assembled a group of highly qualified industry professionals that are aligned in culture and conviction to strive to be the best choice for investors and borrowers.

Our specialist investment finance team have decades of property experience in structuring first and second mortgage debt and preferential equity at leading investment firms and institutions.

We are exceptionally placed to identify, assess, and work with qualified borrowers seeking finance for a range of development, construction, and other property projects across Australia. Our borrowers have direct access to decision makers and support networks at all stages of their property projects – this sets us apart from larger banks and financial institutions.

Our Trustee Board of Directors, technical management team and Investment Review

Committee are well placed to identify the right loan opportunities and assess the credit risk profiles – providing oversight of the risk management frameworks and execution strategies.

Our strong emphasis on capital preservation has resulted in investors consistently receiving risk-adjusted returns that surpass industry averages. Over our history, we have upheld our track record of no capital losses or impairments. This success is achieved through our diverse range of Funds/Trusts, each offering various income returns, income distribution frequencies, and liquidity options.

Through the experience of our team, its focus on transparency, oversight, collaboration, and governance, PrivateInvest has established an investment fund management company to deliver quality investment returns whilst being a property capital partner to the property sector.

Our Business Model

PrivateInvest Capital Partnership.

PrivateInvest operates as a nontransactional business. We prioritise recurring revenue and ongoing business relationships. Through our capital partnership platform for selected borrowers, we establish repeat business, becoming their trusted capital partner. This arrangement allows borrowers to concentrate on project delivery while we handle the funding and financial structuring. It also enhances our credit knowledge, further reducing risk, and provides a clear understanding of the future loan pipeline, ensuring continued business. This approach is scalable and benefits all parties involved.

The same principle applies to our capital origination, as over 50% of our investors choose to invest with us more than once. We highly value long-term investor commitments.

Many fund managers often scale their operations and start seeking larger institutional investments, which results in loans growing in size and initial supporters of the business fading away. PrivateInvest, on the other hand, is committed to taking our investors through the entire journey. This commitment is one of the reasons we focus on the “underappreciated sector” of loans ranging from $3 million to $25 million. Our investment business model consistently generates risk-adjusted returns that

surpass industry averages. It combines the strengths of both large and small financial service providers, allowing us to offer a personalized service to both investors and borrowers.

Since inception, PrivateInvest dedicated its initial two years to the development of the non-bank lending business model and grew it methodically. This endeavour included assembling a highly capable team with impressive experience and skills. Shareholders of the Investment and Facility Manager, PrivateInvest Credit, made substantial investments into the Fund and established the PrivateInvest Wholesale Funding Line of Credit. With a robust and well-established foundation, we are now ready to scale in a measured way.

We welcome you to join us in capturing a growing share of the non-bank lending sector. As we continue to expand, PrivateInvest’s strategic goal is to retain our position of being BIG ENOUGH. SMALL ENOUGH. We don’t necessarily aim to be the largest player in town, rather, our aspiration is to strive and set the benchmark within our industry.

The Team

Our specialist finance team has decades of property experience in structuring equity and debt for property transactions at leading investment firms and institutions. Through the experience of our team, its focus on transparency, oversight, collaboration, and governance, PrivateInvest has established an investment fund management company that is BIG ENOUGH. SMALL ENOUGH to deliver to deliver quality investment returns whilst being a property capital partner to the property sector.

LEFT TO RIGHT: Natasha Birch (Marketing Consultant) , Brett Roberts (Graphic Design - Marketing), Leon Boyatzis (Director – Head of Funds Management – Trustee Board Member), Andrew Groves (Capital Origination), Sarah de Rozario (Group Finance Director ), Davide Bini (Credit Origination), Greg Peel (Non-Executive Chair Trustee and Chair Investment Review Committee), Naomi Roberts (Director – Legal – Investor Relations – Trustee Board Member), Mark Roberts (Executive Chairman – Founding Managing Director), Tom Ellen (Investment Review Committee), Belinda Stewart (Office Manager - South East Asia Co-Ordinator), Tim Jones (Investment Review Committee), Elizabeth Court (Non Executive DirectorTrustee Board Member)

The PrivateInvest Group Key Persons

Mark Roberts

EXECUTIVE CHAIRMANFOUNDING MANAGING DIRECTOR

Mark brings over 30 years’ property experience to PrivateInvest and its clients in both the public and private sectors.

His real estate experience includes corporate and property finance, funds management, asset management, investment management, and large-scale commercial property development.

Mark founded PrivateInvest over a decade ago, taking a measured approach to its evolution as it grew. Four years ago, Mark identified the opportunity to move into the non-bank lending sector, one of Australia’s fastest growing asset sectors which PrivateInvest has now become a genuine alternative finance solution to underserviced lenders in the commercial property market. Since that time, PrivateInvest has grown providing a range of tailored financial solutions to qualified borrowers in the real estate sector and supporting a range of significant projects and developments across Australia.

Mark has directed and executed a number of significant transactions in the finance, property and securities industries including listing an ASX entity as a major shareholder and as Managing Director. This entity became Australia’s largest in its sector, managing 5,600 rental retirement units and providing asset, facilities, tenancy, and funds management services to institutional, wholesale and retail owners.

The Roberts family private investment entity has also undertaken direct developments in the industrial, commercial, retail, hospitality and healthcare sectors.

Mark is based in Perth, Western Australia.

Contact Mark Roberts

Phone: +61 419 745 544

Email: mark.roberts@privateinvest.com.au

Leon Boyatzis

DIRECTOR - HEAD OF FUNDS MANAGEMENTTRUSTEE BOARD MEMBER

Leon has over 25 years’ experience in property funds management.

Leon’s background combines accounting, finance, funds management and property valuation. He has held senior property industry funds management roles for listed, unlisted, retail and wholesale funds ranging from private family offices to large multinational organisations, including Multiplex and Brookfield.

With highly valuable expertise in investment, property valuation, and finance, Leon has built a reputation for driving fund performance and exceeding benchmark investor return hurdles.

This has been achieved through, for example, the development of detailed feasibility and investment models to support valuation analysis, accounting analysis including property cashflow, and fund models to drive strategic decision making and internal valuations.

Leon has been the responsible manager for a number of responsible entities holding Australian Financial Services Licences with investment in property developments on behalf of retail and wholesale clients.

Leon is a Chartered Accountant, and a Certified Practicing Valuer with the Australian Property Institute. He holds a Bachelor of Business (majoring in Accounting and Business Law).

Leon is based in Perth, Western Australia.

Contact Leon Boyatzis

Phone: +61 408 994 089

Email: leon.boyatzis@privateinvest.com.au

Naomi Roberts DIRECTOR – LEGALINVESTOR RELATIONS - TRUSTEE BOARD MEMBER

Naomi has over 20 years’ experience in the property and funds management industries, with significant expertise in compliance, corporate governance and legal functions.

Her real estate experience spans across working in the family private business which involved direct development of commercial, industrial, retail and residential projects.

Naomi was previously involved in an ASX-listed national affordable rental retirement management company which became Australia’s largest in its sector, providing asset, facilities, tenancy and funds management services to institutional, wholesale and retail owners.

While studying towards a Bachelor of Laws, Naomi worked in a small legal practice in Queensland which provided excellent experience across many facets of legal matters including property, financing, conveyancing, wills and estates. She relocated to Western Australia and worked in a litigation firm as an Executive Paralegal while completing her law degree.

Naomi is the Responsible Manager on the PrivateInvest Australian Financial Services Licence.

Naomi has been admitted to the Supreme Court of Western Australia (2022) and also holds a Bachelor of Business (major in Marketing).

Naomi is based in Perth, Western Australia. Contact Naomi Roberts

Phone: +61 407 370 958

Email: naomi.roberts@privateinvest.com.au

Greg Peel

NON- EXECUTIVE DIRECTOR

– TRUSTEE BOARD MEMBER

- CHAIR INVESTMENT

REVIEW COMMITTEE

Greg has over 35 years’ experience in the banking and finance industry including corporate finance, credit and risk management, and business banking. He is highly experienced in the areas of enterprise development, funding and business modelling and partnership identification and development particularly in the area of social finance and impact investment.

He established Bendigo and Adelaide Bank’s Business and Asset Finance divisions and the Strategic Market division. Greg also co-founded and was the Chief Executive Officer and Managing Director of Community Sector Banking, a financial institution focused on notfor-profit, impact investing and social infrastructure financing.

Greg was the Director of Business Development with the New South Wales Aboriginal Land Council where he was responsible for the development of a corporatisation strategy which included enterprise and housing policy.

He has held numerous advisory roles and directorships including Australia Social Investment Trust (Executive Director), Alternative Finance Custodians (Director and Chair of Trustee), Community Sector Enterprises and Community Sector Banking (CEO and MD), Bendigo Asset Management (Chair), Social Enterprise Finance Australia (Director), Eco Trust Australia (Director), Community Development Australia (Director and Chair) and LendForGood (Advisor).

Greg has also held positions as Senior Credit Analyst, and Corporate Relationship Manager at Banque Nationale de Paris, Standard Chartered Bank and State Bank of NSW, London.

Greg holds a Bachelor of Economics.

Greg is based in Nelson Bay, New South Wales.

The PrivateInvest Group Key Persons

Elizabeth Court

NON-EXECUTIVE DIRECTORTRUSTEE BOARD MEMBER

Elizabeth has over 30 years’ banking, finance and treasury experience.

She has experience as an economist within the banking and finance industry. This background combines financial risk management, debt advisory, treasury policy together with client relationship management, corporate governance, systems, and training.

Within the financial services sector, her roles have included:

Treasury Consultant with ANZ Bank (where she provided economic advice and analysis, financial modelling and risk management),

Assistant Treasurer with Colly Farms Cotton (treasury and risk management functions for Australia’s largest marketer and producer of cotton),

Corporate Treasury Advisor with Societe Generale (treasury risk management services), and Consultant with Barrington Treasury Services (risk consulting and governance including treasury policy development, systems, and transactional banking review).

Elizabeth is the principal of Court Consultants and has recently retired her position as a Membership Director of the Private Wealth Network, an independent membership organisation of over 200 Family Offices.

In addition to her role at PrivateInvest, Elizabeth holds a Non-Executive Director position with Grey Innovation Group, a technology commercialisation company, and a Vice Chair Board position with Court Grammar School. Elizabeth is also a Member of the Board of Trustees of the Sir Frank Ledger Charitable Trust.

Elizabeth holds a Bachelor of Economics and is Member of the Australian Institute of Company Directors.

Elizabeth is based in Perth, Western Australia.

Sarah de Rozario

GROUP FINANCE DIRECTOR

Sarah is a Certified Practicing Accountant and finance executive with over 25 years’ experience in the areas of business and finance, strategy, risk and compliance, process engineering and governance.

Sarah has worked across the world in senior finance positions. Formerly the CFO for Swedish company

ACE Interactive, Sarah was also based in Dubai with the International Cricket Council (ICC) as the Global Development (Compliance & Reporting) Manager, overseeing a US$300 million world cricket funding program for 93 countries and 5 Global Regions.

Other roles UK based, included the engineering and construction sector with FTSE 200 listed companies

Balfour Beatty & Mowlem as Group Reporting Controller (accounting for revenues of £7.49 billion and a forward order book of £11.50 billion), Shell UK – Chemicals Downstream, and Head of European Finance at Holmes Place (high end luxury Co in the wellness industry).

Sarah holds a Bachelor of Business, Major in Accounting and Business Law.

Sarah is based in Perth, Western Australia.

Contact Sarah de Rozario

Phone: +61 458 662 747

Email: sarah.derozario@privateinvest.com.au

Belinda Stewart

OFFICE MANAGER –

SOUTH EAST ASIA CO-ORDINATOR

In 2023, Belinda joined the PrivateInvest team, bringing with her an impressive portfolio of over two decades of professional expertise. As a dynamic executive assistant and administrator, Belinda has a proven track record of supporting senior executives, C-suite professionals, teams in high-performance environments and industries. Her experience extends across diverse sectors, including oil & gas, construction, and finance.

Belinda is renowned for her exceptional adaptability and flexibility, having dedicated five years to the finance sector, where she has consistently demonstrated her organizational prowess, adept workflow management, and unwavering commitment to enhancing productivity. She possesses a deep proficiency in a wide range of business applications and systems, encompassing ERP to project management tools.

One of Belinda’s standout assets is her multilingual fluency in English, Malay, Mandarin, Cantonese, and Hokkien, providing a significant advantage in global communications and operations.

Belinda is based in Perth, Western Australia.

Contact Belinda Stewart

Phone: +61 468 487 836

Email: belinda.stewart@privateinvest.com.au

Andrew Groves

CAPITAL ORIGINATION

Andrew Groves has over 20 years’ experience within the Australian Markets sector. With a career spanning several decades, he has developed a deep understanding of various financial products, including discounted securities, bonds, interest rate derivatives, and general banking products. His expertise extends to both front and back-office functions, making him well-versed in the intricacies of the industry.

Andrew’s professional journey reflects his versatility. He played a pivotal role in the establishment and financial success of the ANZIB/Wealth Management Joint Venture, demonstrating strong business development skills.

His career at ANZ Group from 1994 to 2011 involved pioneering the Margin Lending Business, contributing to the ANZ Diversified Margin Loan, tailoring investment and risk management solutions and managed internal relationships across ANZ to drive new product initiatives.

Externally, he managed private client relationships and collaborated with large private companies and ASXlisted organizations. In 2014, Andrew joined National Australia Bank as an Associate Director, boosting FUM and revenue across diverse distribution channels for five years.

Andrew assumed the role of Private Chief Financial Officer at Candor Family Office, offering comprehensive financial advice to high-net-worth families, akin to institutional or corporate clients. His diverse expertise renders him a valuable asset in the financial industry.

Contact Andrew Groves

Phone: +61 411 443 971

Email: andrew.groves@privateinvest.com.au

The PrivateInvest Group Key Persons

Davide Bini

CREDIT ORIGINATION

Davide joined the PrivateInvest team in 2023, bringing with him a multifaceted professional background.

Initially serving as a Project Manager at Multiplex Constructions (VIC) for 5 years, he transitioned into the finance sector with a role at Ernst & Young UK in Mergers & Acquisitions. Over the ensuing 15 years, Davide navigated through roles in Corporate Property Finance and Private Banking at esteemed institutions such as nab, CBA, and Westpac. During his time at CBA, he played an instrumental role in establishing the Broker & Agency Sales Property division and supervising a $550m CMBS Warehouse Facility for AM Lending.

His contribution to the property sector is further evidenced by his presentations for UDIA NSW and occasional seminars for the Property Council. Before embracing his role at PrivateInvest, Davide was at the helm of East Coast operations for Dorado Property.

Davide holds a degree in Applied Science (Building Construction Management) from Victoria Universityas well as an MBA from Melbourne Business School and London Business School. More recently, he has branched into the field of law, earning a Bachelor of Laws from UNE and presently undergoing his PLT at the College of Law.

Davide is based in Sydney, New South Wales.

Contact Davide Bini

Phone: +61 473 123 294

Email: davide.bini@privateinvest.com.au

Brett Roberts

GRAPHIC DESIGN - MARKETING

Brett joined the PrivateInvest team in 2023, bringing a wealth of graphic design and marketing expertise.

Brett graduated from SAE Creative Media Institute in 2021 with a Bachelor of Design and an award for high achievement, having averaged distinction marks throughout his studies. He went on to work in a variety of professional environments including creative studios and corporate offices, specialising in graphic design.

As well as crafting insightful and innovative visual designs, Brett is proficient in creating motion graphics, animation and social media content.

Brett is based in Perth, Western Australia.

Tom Ellen

INVESTMENT REVIEW COMMITTEE

Tom has extensive experience in the banking and finance sector, with expertise in the areas of credit and risk analysis, compliance and governance, process and policy reviews, change management, and identifying and implementing business performance opportunities to improve operating efficiencies and ensure compliance adherence.

Tom had over 20 years’ experience with National Australia Bank as Regional Credit Executive, Senior Credit & Risk Manager, Credit & Risk Manager, and Relationship Manager Business Banking.

He has developed comprehensive risk management templates for National Australia Banks’ Operational Risk and Compliance Team, numerous business process improvement initiatives to improve both business efficiencies and customer experiences, and change management platforms for the implementation and roll out of process improvements.

Tom has managed risk dashboard and quality assurance controls to both maintain and improve banking industry compliance functions and their implementation, leading a team of credit and risk managers to deliver leading, independently assessed Asset Quality Assurance results.

Tom holds a Bachelor of Business and Securities Institute of Australia Certificate in Financial Markets.

Tom is based in Perth, Western Australia.

Contact Tom Ellen

Phone: +61 403 677 106

Email: tom.ellen@privateinvest.com.au

Tim Jones

INVESTMENT REVIEW COMMITTEE

Tim has over 27 years’ experience in property funds management, property operations, property investment and development markets throughout Australia. He is currently the principal of Wholesale Securities, a fund manager for the commercial real estate sector.

Tim was a senior executive for 15 years with the Sarich Family Office, Western Australia’s largest private property investor at the time. Tim was responsible for building the Sarich Family Office into a major property portfolio which included master planned estates and the acquisition of commercial buildings.

Prior to this, Tim’s roles included:

Director / State Property Manager with Macquarie Bank’s Development Funds Management team, where he was responsible for establishing various projects in direct property investment and development, with a portfolio valued in excess of $800 million.

Head of Funds Management with Goldmate Property Group in Sydney ,with the responsibility of establishing their property funds management business.

Tim holds a Bachelor of Business (Valuation and Economy), is an Associate with the Australian Property Institute, and is a Fellow of the Financial Services Institute of Australasia (FINSIA).

Tim is based in Perth, Western Australia.

Contact Tim Jones

Phone: +61 410 571 486

Email: tim.jones@privateinvest.com.au

How Do I Learn More?

It’s more than a name. It’s a promise. It’s where people make the difference.

PrivateInvest is committed to embracing educational and research-oriented promotional activities. We are dedicated to exploring and promoting topics of interest to our investors while providing high-quality information on financial markets and related subjects.

Visit the PrivateInvest website, where you’ll find informative videos about our Funds and Trusts, downloadable Fact Sheets covering various aspects of our offerings, valuable information for borrowers, details on PrivateInvest Insights events and webinars, as well as in-depth PrivateInvest Insights white papers focusing on the sector.

To stay informed about upcoming events or pertinent industry updates, we encourage you to connect with us on our PrivateInvest LinkedIn page (QR Code provided). You can also reach out to us anytime at 1300 2 INVEST (1300 2 468 378) or via email at corporate@privateinvest.com.au, and our dedicated team will assist with your inquiries.

Important Notices

Professional Investor Capability Statement

Investment in PrivateInvest Funds and Trusts is only open to wholesale clients or professional investors, as defined in the Corporations Act 2001 (Cth).

No Responsibility for Document Contents

This Capability Statement is provided to the best of our knowledge, and its terms are believed to be accurate as of the date of issuance.

To the fullest extent allowed by law, neither the Trustee nor any associated parties, related entities, directors, officers, employees, advisors (including financial, accounting, and legal advisors), or representatives make any recommendations regarding this Capability Statement. Additionally, no express or implied warranties are made concerning its accuracy, reliability, or completeness.

This document may not include all the necessary information for prospective investors evaluating potential investments in PrivateInvest Funds and Trusts.

Purpose of This Statement

The purpose of this Capability Statement is to offer information about PrivateInvest Funds and Trusts. Prospective investors should request the Information Memorandum for PrivateInvest First Mortgage Income Fund or Second Mortgage Trusts to make informed investment decisions.

Forward-Looking Statements

This Capability Statement may contain forecasts and forward-looking statements, which are the Trustee’s best estimates based on current circumstances. These statements involve subjective judgments and assumptions about future events, which may or may not prove correct. The Trustee cannot guarantee the realisation of these forecasts and forward-looking statements.

Directory

PrivateInvest Pty Limited

ACN 626 703 026

Authorised Representative

Number 0012 84225

Perth Ground Floor, 561 Stirling Highway

Cottesloe, WA 6011

Sydney 2 Short Street, Double Bay, NSW 202 8

Postal PO Box 477, Cottesloe, WA 6911

Corporate/Investment

1300 2 INVEST ( 1300 2 4 68 378)

Seeking Finance

1300 4 FUNDING ( 1300 4 386 34 6)

Email corporate@privateinvest.com.au

Web www.privateinvest.com.au

Investment Manager

PrivateInvest Credit Pty Limited

ACN 625 4 68 215

Perth Ground Floor, 561 Stirling Highway Cottesloe, WA 6011

Sydney 2 Short Street, Double Bay, NSW 202 8

Postal PO Box 477, Cottesloe, WA 6911

Phone 1300 2 INVEST ( 1300 2 468 378)

1300 4 FUNDING ( 1300 4 386 34 6)

Accounting and Taxation Accountants

Pitcher Partners

Office Level 11/ 12-14 The Esplanade, Perth WA 6000

Phone (08) 9322 2022

Trustee

PrivateInvest Capital Securities Limited

ACN 6 11 892 249

Australian Financial Services

Licence No 4912 87

Perth Ground Floor, 561 Stirling Highway Cottesloe, WA 6011

Sydney 2 Short Street, Double Bay, NSW 202 8

Postal PO Box 477, Cottesloe, WA 6911

Phone 1300 2 INVEST ( 1300 2 4 68 378)

Email corporate@privateinvest.com.au

Registry Services

Automic Group Pty Ltd

Office Level 5, 126 Phillip Street

Sydney, NSW 2000

Phone 1300 2 88 66 4

Email hello@automicgroup.com.au