WA Impact FundA new impact investment fund providing capital for positive social and environmental impact in Western Australia.

Wadjemup Lighthouse, Rottnest Island, WA.

Australians are developing an ever-broadening understanding of wise investing. We want to know our resources are working towards a better future for ourselves, for future generations and for the broader society in which we live.

Financial returns are important, but they are just one part of the picture.

The WA Impact Fund plans to generate strong financial returns for investors, while also delivering deliberate and measurable social and environmental benefits in Western Australia.

This is a unique opportunity to make a positive impact in Western Australia, for Western Australians.

Our members can still achieve an investment return whilst solving State-wide issues exclusive to WA.

“”Fabian Ross, CEO of the Fund’s

anchor investor WA Super.

Investment MandateREAL ASSETS: REGENERATIVE AGRICULTURE & FOR PURPOSE PROPERTY Food systems using sustainable methods, producing positive outcomes for the climate and an inclusive economy. Goals include increasing biodiversity, enriching soils, sequestering carbon, improving water management and community resilience. Social or affordable housing investments as well as green property for non-profits and other community groups.

The Opportunity Agriculture and food exports contributed $8.5 billion to the Western Australian state product in 2016/17, with strong national and international export markets. Regenerative farming techniques can provide higher quality, more valuable produce. We also see opportunities for social businesses in the food distribution systems.

Partners• Tiverton Rothwell Agriculture - Regenerative Agriculture Specialists• Impact Seed - WA capacity builder for impact investment and social enterprise

ENERGY SOLUTIONS Australia is transitioning to a cleaner energy system, triggering fundamental changes in Australian electricity markets. We are moving away from ageing fossil fuel generators towards renewable energy production.

The Opportunity Western Australia has strong solar irradiance and rapid growth in small-scale solar generation, but penetration of renewable energy generation remains low. We expect this to produce investment opportunities in behind-the-meter systems, including rooftop solar. The Fund will particularly aim for broader positive social impact by delivering solutions to community assets including community housing, schools and childcare.

Partner• Boom Power - Specialists in planning, selecting and delivering energy solutions for

community organisations

SOCIAL FINANCE Every business has an impact with its operations, whether positive or negative. IIG believes that business can be a force for good, delivering positive social and environmental outcomes, while generating returns for investors, value for customers, and employment opportunities in local communities.

The Opportunity Western Australia has a developing social enterprise sector with considerable activity in the for-profit and not-for-profit sectors. We want to finance these organisations driving positive change in their communities.

Partners• Impact Seed - WA capacity builder for impact investment and social enterprise

development• IIG Giant Leap Venture Capital Fund - Australia’s first VC fund targeting impact start-ups

SOCIAL IMPACT INITIATIVES Governments and not-for-profit organisations regularly struggle to keep up with the demand for their services, a pattern exacerbated by long-term structural demographic trends.

Governments and Non-Governmental organisations that can attract private sector capital and provide both a return on and repayment of that capital only when outcomes are achieved, have been able to increase their service provision to citizens.

Fund Details

OBJECTIVES

• To provide Unitholders with access to a diversified portfolio of assets that deliver positive social and environmental impact.

• To catalyse the social investment sector in Western Australia.

• To deliver attractive risk-adjusted returns that reflect the underlying investments.

• To generate measurable social and environmental benefits by funding assets and organisations that generate positive social outcomes within Western Australia.

STRATEGY

• To invest in a portfolio of assets that are at varying stages of development, construction and operation and include, but not limited to, real assets and financial investments.

• To acquire assets that meet the Investment Mandate of the Fund and diversify the portfolio.

• To utilise a partnership model that generates investment opportunities and broadens the social investment ecosystem in Western Australia.

TARGET IMPACTS

Increase renewable energy deployment

Enable greater access and availability to affordable, reliable and modern energy services

Deliver cost savings for community organisations through energy solutions deployment.

Demonstrate business can be force for good.

Increase meaningful employment opportunities.

Providing appropriate finance so that for purpose organisations can scale up.

Support delivery of social outcomes.

Enable community organisations to scale up.

Ability to support vulnerable and marginalised populations.

Increase the proportion of agricultural area under productive and sustainable agriculture

Support bio sequestration, improve water management, soil quality and deliver biodiversity benefits

Local employment.

Fund SnapshotThe Fund WA Impact Fund

Type & Structure Closed-end unit trust. Australian domiciled, unregistered managed investment scheme.

Return Profile There is no overall target return across the portfolio, however, each investment will require market-based returns reflecting the risks of that investment.

The Fund intends to provide appropriate risk-adjusted returns to Unitholders, while intentionally focusing on delivering social and environmental outcomes and developing sectors in Western Australia.

These returns are expected to range between 5% to >12% per annum on an IRR basis. The overall portfolio return will be determined by, amongst other things, the performance of the underlying asset, the asset mix and deployment timing.

Target Distributions There is no target level of distributions. However, at the Trustee’s discretion, distributions may be made quarterly where free cash flow exists. Distributions may comprise a combination of income (which may include dividends and interest earnings) and capital (including from the repayment of debt investments).

Term A maximum term of 20 years, unless extended upon recommendation by the Trustee and approved by a special resolution of 75% of Unitholders.

Liquidity Within 5-to-7 years after the fund’s first close, the Trustee may consider liquidity opportunities. However, this is subject to market conditions which may provide liquidity opportunities before or after this time.

Investor Eligibility All Unitholders must be wholesale clients as that term is defined in the Corporations Act 2001 (Cth). WA Super has a right to veto non-WA Super investors in the Fund.

Management Fee 1.2% p.a. on committed capital until the fund is fully invested or the five- year investment period expires, then, 1.2% p.a. on Net Asset Value.

Minimum Subscription $100,000, unless otherwise determined by the Trustee

Manager Impact Investment Group Pty Ltd

Trustee Impact Asset Management Pty Ltd

TO BE REPLACED WITH AN AG PHOTO... TO COME

A green house for seedlings at the regenerative farm Mossy Willow - owned by Small Giants

Please contact us for a copy of the information memorandum.

+61 3 8534 8060 enquiries@impact-group.com.au

VIC: 11 Princes St, St Kilda, 3182 NSW: Lvl 2, 11 York Street, Sydney, 2000

Impact Investment Group (IIG) is a privately owned leading Australian impact investment fund manager. We want to prove that finance can be a force for good. That finance can be great for people and great for the planet. We believe that aiming for systemic change is our path to meaningful environmental and social impact. We therefore work in the context of broader visions.

We see a future where energy is 100% renewable, affordable and universally accessible. Our buildings, towns and cities can be sustainable, inclusive and beautiful. Vibrant businesses can grow while respecting the earth and contributing to our society.

Our community of investors has funded solar farms, green buildings, and the startup years of mission-driven businesses. As impact investors, we aim for financial returns alongside measurable, intentional environment and/or social benefits. We help individuals, family offices, foundations and superannuation funds invest in line with their values, and support them to move further towards impact.

The company was founded in 2013 and made its first acquisition, a $5.25 million real estate investment, in June that year. As of March 31 2019, IIG had more than $680 million in assets under management across its three primary business classes. It employs more than 30 people, with offices in Melbourne and Sydney.

Important InformationPlease refer to the Fund IM for more detail. You must have read the Fund IM before making a decision to invest.

This document is not an offer to invest. It contains assumptions and forward looking statements that may prove inaccurate. It provides only summary information, which is therefore incomplete and may omit information you could consider important. The Trustee of the WA Impact Fund has issued an Information Memorandum, includes the manager’s assumptions, risks and other important information. Investors must have read that Information Memorandum before making their final decision to invest. This document and the information contained in it is presented to you as a wholesale client (as defined in the Corporations Act). None of Impact Asset Management Pty Ltd ACN (635 400 958) (“Trustee”), Impact Investment Group Pty Ltd or their officers, employees or agents guarantees a return of capital or the performance of the WA Impact Fund (“Fund”). This brochure contains general information and does not take into account your objectives, financial situation or needs. Before making a decision to invest you should seek your own professional advice.

IIG’s 25 King, a green building in Brisbane using innovative engineered timber for sustainability and occupant wellbeing benefits.

An IIG site visit to our recently completed Chinchilla Solar Farm in Western Downs, Queensland.

MEMBERSHIPS

Kate Glazebrook, the CEO of Applied, a purpose-driven startup in the Giant Leap impact-VC portfolio