Media Release 30 April 2019

Sargon strengthens board with Stephen Conroy appointment

Financial technology and infrastructure company, Sargon, has appointed former Cabinet Minister, the Honourable Stephen Conroy as a non-executive director on the company’s board.

The appointment follows Mr Conroy’s 20-year career in the , where his responsibilities traversed technology, financial services and superannuation.

As Minister for Broadband, Communications and the Digital Economy, Mr Conroy developed and delivered ’s first digital strategy to future- proof the nation for the next generation.

Mr Conroy joins Non-Executive Chairman Robert Rankin, Chief Executive Officer Phillip Kingston and Executive Director David Chen on the Sargon board.

In welcoming Mr Conroy to the board, Mr Rankin recognised the alignment between Mr Conroy’s unique experience and Sargon’s plans to expand its platform to power the world’s next generation of funds and financial products.

“Sargon is an innovative, fast-growing fintech company. Tapped into the inexorable growth of the Australian superannuation and managed funds sector, its platform is emerging as a significant independent player in the financial technology marketplace,” Mr Rankin said.

“Stephen is a great addition to our board and I look forward to working with him to support Sargon’s growth in the Asia Pacific region.”

Mr Kingston welcomed Mr Conroy’s appointment.

“Stephen’s experience in finance and technology will be invaluable to Sargon, particularly given the complex and ever-changing regulatory environment in which we operate,” Mr Kingston said.

“Stephen has a rare combination of finance and technology skills, along with a deep understanding of Australia’s regulatory and policy settings and the evolving nature of superannuation.”

Mr Conroy described his appointment to Sargon’s board as a fantastic opportunity to continue to contribute to the development of important nation-building infrastructure.

“In many ways, my board role with Sargon feels like the perfect capstone to my prior experiences,” Mr Conroy said. www.sargon.com Sargon Capital Pty Ltd (Sargon) ACN 608 799 873 Level 9, 287-297 Collins Street, Melbourne | (03) 9097 2800

“I spent my first decade in parliament in various roles focused on financial services, regulation and superannuation. I then spent my second decade in parliament focused primarily on technology and the digital economy. The intersection of technology and financial services is where I plan to focus in this next stage of my career.

“Sargon is an exciting, homegrown fintech company. It’s independent and not beholden to or aligned with a financial institution, or any particular retail or industry fund. It’s not burdened by legacy systems or a culture that has failed customers. It’s purpose-built to serve members’ best interests.

“I’m delighted to have the opportunity to be part of this impactful business as it seeks to revolutionise the industry.”

Over the past three years, Sargon has made a number of strategic acquisitions to bolster its capability and scale in trustee and custodial services.

In 2018, the company completed the acquisitions of: • IOOF Holdings Limited’s subsidiary, Australian Executor Trustees Corporate Trust, a leading provider of corporate trust services to the financial services industry in Australia; • Decimal Software Limited, an ASX-listed fintech company delivering financial advice via one of the world’s first, institutional-grade digital advice platforms; and • Heritage Trustee, a New Zealand trustee company that holds one of only four KiwiSaver Supervisor licences in New Zealand.

Additionally, Sargon will soon complete the acquisition of the Trustee Services business from OneVue Holdings Limited, which is one of the largest independent providers of superannuation trustee services in Australia.

On completion of that acquisition, Sargon’s assets under trusteeship and supervision will exceed $50 billion, with more than 120 staff operating across Australia, New Zealand and Hong Kong.

–Ends–

The Honourable Stephen Conroy

Stephen Conroy is a former Senator in the Australian Parliament. He served as Leader of the Government and Deputy Leader of the Opposition in the Senate. He served as Federal Minister for Broadband, Communications and the Digital Economy from December 2007 to June 2013. He was Deputy Leader of the Government in the Senate from December 2007 and appointed Minister assisting the Prime Minister for Digital Productivity in September 2010. In February 2013, he was elected Leader of the Government in the Senate, a position he held until his resignation from the front bench. He www.sargon.com Sargon Capital Pty Ltd (Sargon) ACN 608 799 873 Level 9, 287-297 Collins Street, Melbourne | (03) 9097 2800 served as Shadow Minister for Defence from 2013 to 2016, when he retired from Parliament.

Over Mr Conroy’s 20-year Parliamentary career, he held many portfolios and Parliamentary committee positions. Between 1998 and 2004, Mr Conroy served as Shadow Minister for Financial Services and Regulation; Shadow Minister for Finance, Small Business and Financial Services; and Shadow Minister for Trade, Corporate Governance, Financial Services and Small Business.

Mr Conroy’s interest in superannuation and financial services stems from his time working with the TWU Superannuation Fund before he entered Parliament. He continued to pursue those interests as Senator for and was immediately appointed as a Member of the Senate Select Committee on Superannuation. He served on this Committee and its successor, the Senate Select Committee on Superannuation and Financial Services, between 1996 and 2002. Mr Conroy also served on the Joint Statutory Committee on Corporations and Securities and its successor, the Joint Statutory Committee on Corporations and Financial Services, between 1997 and 2004. Mr Conroy oversaw the ’s response to the Corporate Law Economic Reform Program (CLERP 1-9) and was a member of the Committee that reviewed the Government’s Superannuation Legislation and Corporate Law Legislation on behalf of the then-Opposition.

Mr Conroy is Founder and Managing Director of Chellwood Advisory, a boutique consulting firm providing advice on business development, government and regulatory affairs to clients across a range of sectors including media, communications, financial services and digital technology.

About Sargon

Sargon provides financial institutions and entrepreneurs with the technology and trustee cloud infrastructure they need to successfully build and grow investment funds and financial products. Operating across Australia, New Zealand and Hong Kong, Sargon’s powerful combination of technology and industry experts navigate regulatory complexity, security and compliance to ensure our clients can focus on what matters most: building a better future.

More information: www.sargon.com

Media Enquiries

Emma Needham on +61 (0)3 8672 7826 or [email protected]

www.sargon.com Sargon Capital Pty Ltd (Sargon) ACN 608 799 873 Level 9, 287-297 Collins Street, Melbourne | (03) 9097 2800