MEDIA RELEASE – 31 July, 2017 Mutual Trust Pty Ltd (Mutual Trust) and Myer Family Investments Pty Ltd (MFI) announced today that, with due diligence complete, the agreement to combine Mutual Trust and the Myer Family Company (MFCo) is now conditional only on regulatory approvals. The respective businesses of Mutual Trust Pty Ltd (MT) and The Myer Family Company Ltd (MFCo) are highly complementary and share a strong and proud heritage. A combination of both businesses: • creates Australia’s pre-eminent inter-generational wealth manager for families, trusts and charitable organisations and a leader in the provision of wealth management and taxation advice and support to individuals and organisations with fiduciary responsibility for managing significant pools of private capital. • strengthens the overall service offering through depth of technical expertise, the brightest ideas from each organisation and adoption of best-of-breed practices. Mr Phil Harkness has been appointed Chief Executive Officer of Mutual Trust and CEO-elect of the enlarged group. Pending completion, Phil will be actively involved in the affairs of both businesses. Phil brings significant experience and capability to the role, most recently as Partner at Ernst and Young, where he led the Strategy Practice for Oceania and Asia Pacific. Previously, he led the Performance Improvement Practice within EY Advisory, and prior to that he was Vice President for AT Kearney for 11 years. Phil’s outstanding track record of client service and leadership will prove highly valuable as the enlarged Mutual Trust embarks on this exciting new phase. Phil’s bio is attached. Current Mutual Trust CEO, Tim Hammon, has previously announced his retirement from that position and will continue as a consultant to the Company. Assuming all conditions are satisfied, current MFCo CEO, Danielle Press, will leave the Company after assisting with a smooth transition over the coming weeks and months. Consistent with the previously announced Heads of Agreement, existing Mutual Trust shareholders will own 65% of the expanded Mutual Trust. MFI will own 35% and become Mutual Trusts largest single shareholder. The enlarged group will trade under the name Mutual Trust. The existing Mutual Trust Board of six non-executive directors will be expanded by the appointment of MFI nominees Sidney Myer, Rupert Myer and John Russell. Gordon Dickinson will continue as Chairman. Gordon Dickinson, Chairman of Mutual Trust, said: “Mutual Trust and MFCo both have focused on helping families with the challenges of managing wealth and their financial affairs across generations. As a combined entity, client experience will be enhanced and the financial strength of the combined business will benefit all stakeholders” Sidney Myer AM, Chairman of Myer Family Investments, said: “Myer Family Investments is delighted that the union of MFCo and Mutual Trust has reached this important milestone. MFI, and the Myer family, are very proud of the way MFCo has developed as a leader in the family office business over the last 25 years. Further, we are proud of the contribution that the MFCo team, past and present, have made to position the business for the future. The future looks exciting. The due diligence process has confirmed a strong alignment between our organisations and the prospect of a unique and compelling offer for clients. We look forward to working with Phil Harkness as he leads the enlarged Mutual Trust to deliver on this vision” Phil Harkness, CEO of Mutual Trust, said: “It is a very exciting time to be creating what is the clear leader in an ever increasingly complex industry. The combination of these two 80 plus year old firms will offer a deeper and broader range of very personalised services to our existing and future clients. It is a privilege to be at the helm”. ---------------- Enquiries: Mutual Trust: Phil Harkness 0418 995 038 Myer Family Investments: John Russell 03 9207 3022 About Mutual Trust Mutual Trust is a privately owned multifamily office with offices in Melbourne and Sydney. The words Mutual Trust are more than just a company name. They represent an entrenched philosophy of integrity and shared purpose that has defined the way we have operated since the firm was founded by The Hon. W L Baillieu and five of his brothers in the 1930’s and incorporated in 1951. Today, Mutual Trust is a leading multi-family office providing holistic & integrated services including family office, intergenerational succession, wealth management, philanthropic, tax and agribusiness services to wealthy families. Building on the service it has provided to the Baillieu Family to transition wealth successfully across four generations, Mutual Trust now services many families with those same challenges. www.mutualtrust.com.au About the Myer Family Company MFCo is a sophisticated investment and professional services firm and one of Australia’s leading family offices. It provides strategic wealth management advice to over 230 ultra-high net worth families and fiduciaries wishing to protect and grow their investible funds to meet their future and intergenerational liabilities and aspirations. MFCo’s origins go back to 1976 when the office was established to serve the interests of the Myer family – advising on their business, investment, family and philanthropic interests. In 1991, the firm opened its doors to other families and has evolved to now service the needs of many through offices in Melbourne, Sydney, Brisbane and Perth. www.mfco.com.au About Myer Family Investments The Myer Family Investments (MFI) is a large private company founded by Sidney Myer in 1925, which remains under the control of the current generation of the Myer family. MFI has investments in a widely diversified Australian and international portfolio across a range of asset classes. It currently owns 100 per cent of the Myer Family Company. .