PACIFIC CURRENT GROUP LIMITED — M&A Activity 2014

Nov 2, 2014

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3 November 2014

Australian Securities Exchange Market Announcements Via: E lodgement

MERGER WITH NORTHERN LIGHTS CAPITAL GROUP UPDATE IN RELATION TO COMPLETION TIMING

On 5 August 2014, Treasury Group Limited announced that it had entered into an agreement to merge with Northern Lights Capital Group (Northern Lights) and that completion was expected to occur by the end of October 2014.

We now expect completion to occur during November 2014. Significant progress has been made towards completion including satisfaction of the majority of the conditions precedent and other required pre-completion matters. As at the date of this announcement, the material conditions that remain outstanding are UK regulatory approvals and finalisation of procedural banking requirements. Other material conditions have been satisfied including finalisation of the merger structure, required consents from clients of certain Northern Lights boutiques and shareholder agreement processes at TRG boutiques.

For further details please contact: Andrew McGill

Managing Director, Treasury Group Limited +61 2 8243 0400

For media queries please contact: Rebecca Lawson Associate Director, M&C Partners +61 433 216 269

Treasury Group Limited ABN 39 006 708 792 Level 14, 39 Martin Place, Sydney NSW 2000 phone 028243 0400 facsimile 028243 0410