CVC LIMITED — Board/Management Information 2019

Jul 31, 2019

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1 August 2019

Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000

By: e-lodgement

Attention: Company Announcements Office

Appointment of new CEO

CVC Limited (ASX: CVC) ( Company ) is pleased to advise that Mark Avery will commence as Chief Executive Officer of the Company, effective 1 August 2019.

Mark began his professional career at Macquarie Group in 2002 where he was employed for five years in its property finance division as well as its residential development divisions. Mark then moved to a private Melbourne based developer before joining a subsidiary of Mirvac in the industrial property sector. Since commencing at the Company in 2010, Mark has been responsible for the group’s real estate investment activities and was appointed as a director of the Company on 1 July 2019. Mark holds bachelor degrees in Commerce and Planning & Design from the University of Melbourne.

As announced to the market on 13 June 2019, outgoing CEO Alexander (Sandy) Beard will assist with Mark’s transition to the position of Chief Executive Officer over the first quarter of the 2020 financial year.

A summary of Mark’s key employment terms is set out below. The engagement also contains customary terms regarding confidentiality and privacy.

Commencement date	1 August 2019
Term	Ongoing until terminated by either party.
Base salary	$375,000 per annum reviewed annually, plus
	minimum statutory contributions
Incentives	Mr Avery will be eligible to participate in the
	Company’s incentive plans, the terms and
	operation of which are at the discretion of the
	Board.
	The Company will also have complete
	discretion around the level of short term
	incentive paid, based on the performance of
	CVC Limited and its related entities as well as
	Mr Avery’s individual performance.

CVC Limited	Level 37	T02 9087 8000
ABN34 002 700 361	1 Macquarie Place	F02 9087 8088
AFSL239665	Sydney NSW 2000	www.cvc.com.au
AUI-930695994v1

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	In certain cases, at the discretion of the Board
	there may be potential to share in the
	outperformance in returns above a benchmark
	hurdle agreed by the Company.
Notice period	Either party may terminate the employment
	with six months’ written notice. The Company
	may terminate the employment without notice
	in certain circumstances for serious breaches.
Post-employment restrictions	Mr Avery is restricted from competing with the
	Company and from soliciting staff and clients
	for a period of up to 6 months.

John Hunter Company Secretary

CVC Limited ABN34 002 700 361 AFSL 239665 AUI-930695994v1

Level 37 T 02 9087 8000 1 Macquarie Place F 02 9087 8088 Sydney NSW 2000 www.cvc.com.au