Metrics – Private Markets Conference 2024

Disclaimer

Purpose of Presentation

This document has been prepared by Metrics Credit Partners AFSL 416146 (Metrics) on a confidential basis for distribution only to professional and sophisticated investors in Australia whose ordinary business is to buy or sell investments of the type described in this document in circumstances where disclosure is not required to be made to investors under the Corporations Act 2001 (Cth) (“Corporations Act”). Equity Trustees Limited (EQT) (ABN 46 004 031 298) (AFSL 240975), is the Responsible Entity for the Metrics Direct Income Fund (MDIF) (ARSN 641 620 331) and Metrics Real Estate Income Fund (MREIF) (ARSN 671 699 228). All content in respect of the MDIF is issued by EQT. All content in respect of the Metrics Master Income Trust (MXT) (ARSN 620 465 090) and the Metrics Income Opportunities Trust (MOT) (ARSN 631 320 628) and the Metrics Real Estate MultiStrategy Fund (MRE) (a stapled structure consisting of the Metrics Real Estate Multi-Strategy Passive Trust (ARSN 679 413 293) and the Metrics Real Estate Multi-Strategy Active Trust (ARSN 679 413 695)) is issued by The Trust Company (RE Services) Limited (ABN 45 003 278 831) (AFSL 235 150) as the responsible entity of MXT or MOT or MRE as applicable. It is not intended for, and should not be distributed to, any other person and it must not be distributed to any person who is a retail client for the purpose of the Corporations Act or to any person outside of Australia. This document is not a Product Disclosure Statement or Prospectus required to be lodged with the Australian Securities and Investments Commission in accordance with the Corporations Act and it does not contain all of the information that such a Product Disclosure Statement or Prospectus is required to contain or that an offer document for the products described herein would contain. It is not an offer of interests in respect of any financial product.

The Funds

Units in the Metrics Income Opportunities Trust, Metrics Master Income Trust and Metrics Real Estate Multi Strategy Fund, a stapled structure consisting of the Metrics Real Estate MultiStrategy Passive Trust (passive Trust) and the Metrics Real Estate Multi-Strategy Active Trust (Active Trust) are issued by The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235 150 as responsible entity.

Units in the Metrics Direct Income Fund and Metrics Real Estate Income Fund are issued by Equity Trustees Limited ACN 004 031 298 AFSL 240975 as responsible entity.

Terms and service providers in respect of the Funds are current as at the date of this document and are subject to change without notice.

Responsibility for Information

Metrics has prepared this document from sources it believes to be correct and based on the information available to it and the facts and circumstances in existence as at the date of this document. Neither Metrics nor any of its related entities, associates, officers, employees or agents make any representation or warranty, express or implied as to or assume any responsibility or liability for. The authenticity, origin, validity, accuracy or completeness of any information, statement or opinion contained in this document or in any accompanying, previous or subsequent material or presentation. To the maximum extent permitted by law, Metrics and each of its related entities, associates, officers, employees or agents disclaims all and any responsibility or liability for any loss or damage which may be suffered by any person relying upon any information contained in,or any omissions from, this document.

Investment Risk

Any investment is subject to investment risk. It is not a deposit with, nor does it represent a liability of the trustee or responsible entity of any Fund and Trust Metrics or any other person. None of the trustee, responsible entity of a Fund, Metrics, its related bodies corporate or any other person guarantees the capital value or performance of the investment of any strategy or guarantees any particular return from a Fund, increase in the value of any amount invested in a Fund or repayment of any amount invested in a Fund.

Reliance on Presentation

This document has been prepared without taking into account any particular person’s objectives, financial situation or needs; does not purport to identify the nature of specific market or other risks associated with any investments described within it and does not constitute any legal, taxation, investment or accounting advice. All information in this document is indicative, is based on certain assumptions and current market conditions and is subject to change without notice. No information contained in this document constitutes a prediction or forecast as to the performance of any investments. Any historical information contained in this document is provided by way of illustration only, past performance is not a guide to future performance and actual performance may differ materially. Assumptions upon which financial illustrations are based may differ from actual circumstances. No reliance should be placed on the information in this document and any investment decision should be based only on the information in final offer documents and the purchaser’s own due diligence, inquiry, assessment and advice in respect of the products and investmentsdescribed herein.

Confidential

This document and all of the information contained in it must not be disclosed to any person or replicated in any form without the prior written consent of Metrics.

Disclaimer – Research Ratings

Bond Adviser
• BondAdviser has acted on information provided to it and our research is subject to change based on legal offering documents. This research is for informational purposes only. This information discusses general market activity, industry or sector trends, or other broad-based economic, market or political conditions and should not be construed as research or investment advice. The content of this report is not intended to provide financial product advice and must not be relied upon or construed as such. The statements and/or recommendations contained in this report are our opinions only. We do not express any opinion on the future or expected value of any Security and do not explicitly or implicitly recommend or suggest an investment strategy of any kind.

• This report has been prepared based on available data to which we have access. Neither the accuracy of that data nor the research methodology used to produce the report can be guaranteed or warranted. Some of the research used to create the content is based on past performance. Past performance is not an indicator of future performance. We have taken all reasonable steps to ensure that any opinion or recommendation contained in the report is based on reasonable grounds. The data generated by the research is based on methodology that has limitations; and some of the information in the reports is based on information from third parties.

• We do not therefore guarantee the currency of the report. If you would like to assess the currency, you should compare the report with more recent characteristics and performance of the assets mentioned within it. You acknowledge that investment can give rise to substantial risk and a product mentioned in the reports may not be suitable to you.

• You should obtain independent advice specific to your particular circumstances, make your own enquiries and satisfy yourself before you make any investment decisions or use the report for any purpose. This report provides general information only. There has been no regard whatsoever to your own personal or business needs, your individual circumstances, your own financial position or investment objectives in preparing the information.

• We do not accept responsibility for any loss or damage, howsoever caused (including through negligence), which you may directly or indirectly suffer in connection with your use of this report, nor do we accept any responsibility for any such loss arising out of your use of, or reliance on, information contained in or accessed through this report.

• © 2023 Bond Adviser Pty Limited. All rights reserved.

• Independent Investment Research

• This research rating requires to be read with the full research report that can be found on the issuer’s website (or upon request) together with our full disclaimer that is found on the front cover of our research note. We require readers of our research note to obtain advice from their wealth manager before making any decisions with respect to the recommendation on this note. The note is not general advice just financial information without having regard to the financial circumstances of the reader.

• Zenith Investment Partners

• The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned 13 June 2024 and 3 September 2024 for MRE) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at this link.

• Lonsec

• The rating issued 08/2023 Metrics Direct Income Fund, 08/2023 Metrics Master Income Trust, 08/2023 Metrics Income Opportunities Trust and 09/2024 Metrics Real Estate Multi-Strategy Fund are published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only and have been prepared without taking account of your objectives, financial situation or needs.

Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2023 Lonsec. All rights reserved.