STEADFAST GROUP LIMITED — AGM Information 2016

Sep 21, 2016

22 September 2016

Market Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir

NOTICE OF 2016 ANNUAL GENERAL MEETING

Please see attached the 2016 Notice of Annual General Meeting (AGM) and a sample proxy form.

Copies of the 2016 Notice of AGM and individualised proxy forms will be sent to shareholders today.

The 2016 AGM is scheduled for 10:00 am Thursday 27 October 2016 in the Castlereagh Room, Sheraton on the Park, 161 Elizabeth Street, Sydney, entry also from 134 Castlereagh Street.

Yours faithfully

Linda Ellis Group Company Secretary & Corporate Counsel

Steadfast Group Limited ABN: 98 073 659 677 ACN: 073 659 677 Level 3, 99 Bathurst Street, Sydney NSW 2000 t 02 9495 6500 f 02 9495 6565 www.steadfast.com.au

STRENGTH WHEN YOU NEED IT

Steadfast Group Limited

Notice of Annual General Meeting 2016

The 2016 Steadfast AGM will be held at 10.00am Thursday 27 October 2016 in the Castlereagh Room, Sheraton on the Park, 161 Elizabeth Street, Sydney, entry also from 134 Castlereagh Street.

Steadfast Group Limited – Notice of AGM 2016

Steadfast Group Limited (ACN 073 659 677) is also referred to as the "Company" or "Steadfast" in this notice of Annual General Meeting ("AGM").

1. Consideration of reports

To receive and consider the financial report for the Company and its controlled entities, the directors' report and auditor's report for the financial year ended 30 June 2016 as set out in the Company's 2016 annual report.

There is no vote on this item.

2. Remuneration report

To consider, and if thought appropriate, pass the following resolution as an advisory resolution:

"That the remuneration report (set out in the directors' report) for the financial year ended 30 June 2016 be adopted."

3. Grant of equity to CEO

To consider, and if thought appropriate, pass the following resolution as an ordinary resolution:

"That:

• (a) for the purposes of ASX Listing Rule 10.14 and for all other purposes:
  • (i) in relation to Mr Robert Kelly's FY16 remuneration, the grant to Mr Robert Kelly of an initial number of 374,142 deferred equity awards under the Company's long term and short term incentiveschemes;
  • (ii) the issue (or transfer) to and acquisition by Mr Robert Kelly of Steadfast ordinary shares in relation to Mr Robert Kelly's FY16 remuneration in consequence of the relevant deferred equity awards vesting into Steadfast ordinary shares; and
• (b) for the purposes of sections 200B and 200E of the Corporations Act 2001 (Cth) and for all other purposes, the giving of all benefits to Mr Robert Kelly referred to in paragraph 3(a) in connection with Mr Robert Kelly ceasing to hold an office or position of employment with the Company or a related body corporate, in circumstances of death, genuine retirement, redundancy or total and permanent disablement,

in each case, as set out in the Explanatory Memorandum which forms part of this Notice of Meeting, is approved on the terms described in the Explanatory Memorandum.

4. Re-election of director – Ms Anne O'Driscoll

To consider, and if thought appropriate, pass the following resolution as an ordinary resolution:

"That Ms Anne O'Driscoll is re-elected as a non-executive director of the Company."

5. Re-election of director – Mr Greg Rynenberg

To consider, and if thought appropriate, pass the following resolution as an ordinary resolution:

"That Mr Greg Rynenberg is re-elected as a non-executive director of the Company."

Further information in relation to each resolution to be considered at the AGM is set out in the enclosed Explanatory Notes.

By order of the Board.

Linda Ellis Company Secretary 22 September 2016

Explanatory notes on the business to be transacted at the 2016 AGM

Item 1 – Consideration of reports

Following consideration of the reports, the Chairman will give shareholders a reasonable opportunity to ask questions about or comment on the management of the Company. The Chairman will also give shareholders a reasonable opportunity to ask the Auditor questions relevant to:

• the conduct of the audit;
• the preparation and content of the Auditor's report;
• the accounting policies adopted by the Company in relation to the preparation of the financial statements; and
• the independence of the Auditor in relation to the conduct of the audit.

Item 2 – Remuneration report

In accordance with the Corporations Act 2001 (Cth), the Company is required to present the Company's remuneration report to shareholders for consideration and adoption at the meeting. The remuneration report outlines Steadfast's remuneration philosophy, framework and outcomes for the financial year ended 30 June 2016. The remuneration report is located in the Company's 2016 annual report on pages 33 to 52 and is also available on the Steadfast investor website. Shareholders will have a reasonable opportunity to ask questions and comment on the remuneration report at the AGM.

The vote on this resolution is advisory only and does not bind the directors or the Company. Nevertheless, the board will take into account the outcome of the vote when considering the future remuneration arrangements of the Company.

Due to the "two strikes rule" in the Corporations Act 2001 (Cth), votes against this resolution could lead to an extra meeting to elect directors next year. If 25% or more of votes cast are voted against the adoption of the remuneration report at two consecutive AGMs (the first and second "strikes"), a "spill resolution" must be put to shareholders at that second AGM as to whether a further meeting should be held at which all directors (other than the Managing Director & CEO) cease to hold office but may stand for re-election.

The Company's remuneration structure is designed to align executive and shareholder interests, retain talent and support long term value creation by providing competitive remuneration and valuable rewards for exceptional performance and earnings per share growth. The Company obtains periodic independent input to confirm the appropriateness of these arrangements.

Noting that each director has a personal interest in their own remuneration from the Company as described in the remuneration report, the board recommends that shareholders vote in favour of the resolution in item 2.

The Chairman of the AGM intends to vote undirected proxies able to be voted in favour of this resolution.

Voting exclusion – item 2

• 1. Subject to 2. below, a vote must not be cast (in any capacity) on the resolution in item 2 by or on behalf of a member of the Company's key management personnel (including the directors) ("KMP"), details of whose remuneration are included in the remuneration report, or their closely related parties (as defined under the Corporations Act 2001 (Cth)), whether as a shareholder or as a proxy, except that a vote may be cast on the resolution in item 2 by a KMP, or a closely related party of a KMP if:
  • (a) the vote is cast as a proxy appointed in writing that expressly specifies how the proxy is to vote on the resolution in item 2; and
  • (b) the vote is not cast on behalf of a KMP or a closely related party of a KMP.
• 1. If you appoint the Chairman of the AGM as your proxy or the Chairman of the 2016 AGM is appointed as your proxy by default 1 , and you do not direct your proxy how to vote on the resolution in item 2 on the proxy form, you will be expressly authorising the Chairman of the AGM to exercise your proxy in favour of the resolution in item 2 even if item 2 is connected directly or indirectly with the remuneration of a member of the KMP, which includesthe Chairman of the AGM.

1 If no proxy was identified in your lodged proxy form. 3

Item 3 – Grant of equity to CEO

Approval of grant of equity to Mr Robert Kelly

Mr Robert Kelly's participation in the Company's STI and LTI Plans

Resolution 3 deals with the proposed grant of deferred equity awards to Mr Robert Kelly, Managing Director & CEO ("MD & CEO"), under the Company's short term incentive plan ("STI Plan'') and long term incentive plan ("LTI Plan''). Specifically, the board intends to grant Mr Kelly an initial number of 374,142 deferred equity awards of conditional rights to Steadfast ordinary shares at no cost ("DEAs'') as part of his FY16 remuneration, subject to the hurdles described in the Further Details of the STI and LTI Plans (as attached to this Explanatory Memorandum).

The key elements of the financial remuneration paid to Mr Kelly are:

• fixed remuneration of cash salary, superannuation and non-monetarybenefits;
• an annual incentive under the Company's STI Plan; and
• a long term incentive under the Company's LTI Plan.

For FY16, the targeted remuneration mix for the MD & CEO was 33% fixed and 67% variable (at risk). The board believes that the fundamental driver for executive remuneration should be long term financial performance that generates value for Steadfast's shareholders. The at risk (or variable) remuneration components for the MD & CEO are set by reference to current market practice and regulation. To ensure the MD & CEO remains focused on long term outcomes without encouraging excessive risk taking or short term cost cutting, the following conditions apply:

• financial performance hurdle diluted earnings per share ("EPS'') growth has been chosen to alignwith shareholders' objectives;
• operating performance hurdle the MD & CEO has set annual performance objectives aligned to theGroup's strategic objectives and must achieve at least 60% of those objectives to be eligible for any STI or LTI;
• 40% of the STI is granted as DEAs which will vest and be satisfied by either the issue or transfer of ordinary shares in the capital of the Company in three equal tranches after one, two and three years from the grant date;
• 100% of the LTI is granted as DEAs which will vest after three years from the grant date (subject to the satisfaction of the future performance hurdles) and is satisfied by either the issue or transfer of ordinary shares in the capital of the Company; and
• the board retains the discretion to adjust any unpaid or unvested performance related remuneration (such as STI cash, STI – DEAs and LTI) downwards if it is appropriate to do so. This discretion applies to all the following comments on applicable dates for vesting of share-based payment awards. The board also has a discretion to vest early in a change of control scenario.

The objectives agreed for the MD & CEO for FY16 were achieving underlying diluted EPS growth of 10% or more against the FY15 underlying diluted EPS of 7.24 cents, improving margins from broking and underwriting agency businesses, improving performance from major hubs, successful integration of acquisitions including Calliden, CHU and UAA, achieving targets for Steadfast Direct, empowering and developing the Senior Management Team, succession planning implementation and successful implementation of new technology for back office efficiencies. The MD & CEO achieved a substantial majority of his non-financial objectives and drove the Company to achieve underlying 11.8% diluted EPS growth in FY16.

Under the 2016 STI, the MD & CEO was awarded $574,200 in cash and, subject to shareholder approval, will be granted 175,130 STI DEAs. Under the 2016 LTI, subject to shareholder approval, the MD & CEO will be granted 199,012 LTI DEAs.

This gives an initial number of 374,142 DEAs, calculated by dividing $817,800 by a Steadfast share price of $2.1858. The figure of $817,800 is the total value of Mr Kelly's FY16 STI and LTI share entitlements approved by the Remuneration & Succession Planning Committee (comprised of independent non-executive directors) and disclosed in the 2016 remuneration report on page 37 of Steadfast's 2016 Annual Report. The figure of $2.1858 is the volume weighted average share price of Steadfast shares over the five trading days on the Australian Securities Exchange prior to Steadfast announcing its 2016 results on 24 August 2016 (and the Board approving Mr Kelly's 2016 awards of STI and LTI).

This initial number of STI DEAs will increase to reflect any dividends paid on Steadfast shares prior to vesting as if the DEAs were part of Steadfast's dividend reinvestment plan.

Further details of the 2016 STI and LTI Plans are attached to this Explanatory Memorandum, and also contained in the 2016 Annual Report.

ASX Listing Rule 10.14

ASX Listing Rule 10.14 prohibits the issue of new securities to a director (or their associates) under an employee incentive scheme without shareholder approval. It aims to minimise the dilution of shareholders and to protect them against related party transactions.

Other than Mr Robert Kelly, the MD & CEO, there are no directors or associates of directors who are currently entitled to participate in the LTI or STI Plans. Details of any issue to Mr Robert Kelly of DEAs, and any issue to Mr Robert Kelly of Steadfast shares as a consequence of those DEAs vesting into Steadfast shares, will be published in each annual report of the Company relating to a period in which the relevant DEAs or Steadfast shares have been issued (as applicable) and that approval for the issue was obtained under ASX Listing Rule 10.14 (subject to shareholder approval). Since the approval sought at the 2015 AGM, Mr Kelly received 554,398 DEAs, at nil cost to him, in accordance with the approval received. In accordance with the terms of the 2015 STI, one-third of the DEAs awarded under the 2015 STI vested in August 2016 and 95,615 Steadfast shares were transferred to Mr Kelly on such vesting at nil cost to Mr Kelly. Any additional directors or their associates who become entitled to participate in the LTI or STI Plans after item 3 is approved and are not named in this notice of meeting will not be issued securities under the LTI or STI until approval is obtained under ASX Listing Rule 10.14.

Strictly speaking, ASX Listing Rule 10.14 only applies to issues of securities to a director, not transfers of securities which are acquired on market if the DEAs vest. Nevertheless, to preserve flexibility in the operation in the LTI and STI Plans (so that the relevant Steadfast shares (on the vesting of any DEAs) can be either transferred or issued), and in the interests of good corporate governance, shareholders are being asked to vote on item 3.

Approval of termination benefits for Mr Robert Kelly

Termination Benefits

Termination benefits for Mr Robert Kelly covered by this approval involve any subsequent issue or transfer of any Steadfast shares as a result of the vesting of any DEAs, or any equivalent cash payment in lieu ("Benefits") under either the STI or LTI Plans, so that they do not count towards such maximum termination amounts only to the extent the Benefits involve death, genuine retirement, redundancy or total and permanent disability. In these four limited circumstances, the board may provide the Benefits earlier than the usual vesting periods. The most likely example is genuine retirement.

For the purposes of the paragraph above, the "Benefit" will be the market value of the shares either issued or transferred to the MD & CEO on leaving service (or any cash payment in lieu). Apart from the future share price being unknown, the MD & CEO's length of service, number of DEAs, individual and Company performance factors, levels of cash awarded and amount of other remuneration are matters which will or are likely to affect the value of the Benefit.

In considering this resolution, shareholders should note that Mr Kelly, who is 69 years of age, has agreed to continue in his role until at least the end of 2020.

Corporations Act

The Corporations Act 2001 (Cth) ("Corporations Act") limits the maximum termination amounts which a corporation can pay on retirement to persons who hold a "managerial or executive office" (as defined in the Corporations Act).

Under section 200B of the Corporations Act, a corporation can only give a person who holds a "managerial or executive office" (as defined in the Corporations Act) a "benefit" (widely defined in the Corporations Act) in connection with their retirement from that office or position of employment in the corporation or a "related body corporate" (again as defined in the Corporations Act) if it is approved by shareholders or one of the limited exemptions apply. Under the Corporations Act, the maximum termination amount which may be paid without shareholder approval is an amount equal to average annual base salary over the last three years. "Benefit" includes early vesting. The Corporations Act defines retirement broadly to include loss of office, resignation and death. Section 200B applies to the MD & CEO.

In the absence of shareholder approval, it is possible the circumstances mentioned under the heading "Termination Benefits" may result in a benefit to the MD & CEO to which an exemption from section 200B may not apply and which together with other remuneration may exceed the maximum termination amount. For example, this mayoccur if the board exercises discretion to pay any unvested rights in cash and/or Steadfast shares before those rights would otherwise vest in the four limited circumstances described above, namely death, genuine retirement, redundancy or total and permanent disability.

Shareholder approval will allow Steadfast, where appropriate, to fulfil its contractual DEA obligations under the STI and LTI Plans. Share benefits align senior executives with shareholders. Directors believe granting approval is better for shareholders than, for example, increasing cash awards in the future in lieu of share benefits.

Shareholder approval also assists Steadfast to retain, motivate and attract key employees. The share benefits under the STI and LTI Plans are consistent with the approach adopted since the Company's listing on ASX in 2013. They have been disclosed in previous annual reports and notices of meetings. The board continues to believe such benefits are suitable for Steadfast.

In general, the four limited circumstances above are beyond a senior executive's influence and do not involve poor performance.

The directors consider it good corporate governance and prudent for the Company to seek shareholder approval for any Benefit which the MD & CEO may receive under the STI or LTI in the event of the four limited circumstances mentioned above.

The directors with Mr Kelly abstaining (and not voting) recommend that shareholders vote in favour of the resolution in item 3. None of the directors (excluding Mr Kelly who has a personal interest) have any interest in the outcome of the proposed resolution except to secure the services of Mr Kelly on a continuing basis.

The Chairman of the AGM intends to vote undirected proxies able to be voted in favour of this resolution.

Voting exclusion – item 3

A vote must not be cast (in any capacity) on the resolution in item 3 by or on behalf of a member of the Company's KMP (including the directors), details of whose remuneration are included in the remuneration report, or their closely related parties (as defined under the Corporations Act 2001 (Cth)), whether as a shareholder or as a proxy, except that a vote may be cast on the resolution in item 3 by a KMP, or a closely related party of a KMP if:

• (a) the vote is cast as a proxy appointed in writing that expressly specifies how the proxy is to vote on the resolution in item 3; and
• (b) the vote is not cast on behalf of a KMP or a closely related party of a KMP.

Steadfast will disregard any votes cast on item 3:

• (a) by or on behalf of the MD & CEO or an associate of the MD & CEO; or
• (b) as a proxy by a member of the Company's KMP (including the MD & CEO or any other director) (details of whose remuneration are included in the remuneration report) at the date of the meeting, or any KMP's closely related party, unless the vote is cast as a proxy for a person who is entitled to vote on this resolution:
  • in accordance with the person's express directions of how to vote as set out in the proxy form; or
  • by the Chairman of the meeting pursuant to an express authorisation on the proxy form, which may include a direction to vote as the proxy decides.

Re-election of directors

The board undertakes a regular review of its performance, policies and practices. The review includes an assessment of the performance of each director, their experience and skills. This is taken into account by the board in determining whether to endorse directors standing for re-election and anyone offering themselves for election as a director.

Item 4 – Re-election of Ms A O'Driscoll

Ms O'Driscoll is retiring by rotation in accordance with article 13.5 of the Company's constitution and ASX Listing Rule 14.4 and is offering herself for re-election. The board has concluded that Ms O'Driscoll is independent.

Ms O'Driscoll was appointed to the Steadfast board in 2013. She is a non-executive director and serves on the Nomination, Remuneration & Succession Planning and Audit & Risk committees, being the Chairman of the latter.

Ms O'Driscoll has over 30 years of business experience. A Chartered Accountant since 1984, she was CFO of Genworth Australia from 2009 to 2012 following more than 13 years with IAG. Ms O'Driscoll is on the boards of Infomedia Limited, Commonwealth Bank's insurance subsidiaries (CommInsure) and MDA National Insurance Pty Ltd. She is a Fellow of ANZIIF and a Graduate member of the Australian Institute of Company Directors and a graduate of Harvard's Advanced Management Program.

The directors with Ms O'Driscoll abstaining (and not voting) recommend that you vote in favour of the resolution in item 4.

The Chairman of the AGM intends to vote undirected proxies able to be voted in favour of this resolution.

Item 5 – Re-election of Mr Greg Rynenberg

Mr Rynenberg is retiring by rotation in accordance with article 13.5 of the Company's constitution and ASX Listing Rule 14.4 and is offering himself for re-election. The board has concluded that Mr Rynenberg is independent.

Mr Rynenberg was re-appointed to the Steadfast board in 2013. He is a non-executive director and serves on the Audit & Risk, Nomination, Remuneration & Succession Planning committees.

Mr Rynenberg has over 40 years of experience in the general insurance broking industry with 32 years spent running his own business, East West Group. East West Group is a Steadfast Network Broker not owned by Steadfast and includes an underwriting agency which provides services to Steadfast Network Brokers. Greg is a Qualified Practicing Insurance Broker, Fellow of NIBA and an Associate of ANZIIF. He holds an Advanced Diploma in Financial Services (General Insurance Broking) and was named NIBA Queensland Broker for 2014.

The directors with Mr Rynenberg abstaining (and not voting) recommend that you vote in favour of the resolution in item 5.

The Chairman of the AGM intends to vote undirected proxies able to be voted in favour of this resolution.

Information regarding voting

1. Poll

The Chairman intends to conduct voting at the AGM by poll.

2. Entitlement to attend and vote

In accordance with Regulation 7.11.37 of the Corporations Regulations and ASX Settlement Operating Rule 5.6.1, the directors have determined that a shareholder's entitlement to attend and vote at the 2016 AGM is as set out in the Company's share register as at 10.00am (Sydney time) on 25 October 2016.

Transactions registered after that time will be disregarded in determining the shareholders entitled to attend and vote at the 2016 AGM.

3. Proxies

• (a) Proxy form: A proxy form is included with this notice ofAGM.
• (b) Appointing a proxy: If you are entitled to attend and vote at this AGM, you mayappoint:
  • (i) a person ("person" can be an individual or a body corporate); or
  • (ii) if the shareholder is entitled to cast two or more votes at the meeting, twopersons,

as your proxy or proxies to attend and vote for you at the meeting. A proxy need not be a shareholder.

• (c) Maximum of two: You may appoint a maximum of two proxies and may state on the proxy form what proportion or number of your votes each proxy is being appointed to exercise. If you appoint two proxiesand do not specify the proportion or number of votes each proxy may exercise, each of the proxies may exercise half of your votes.
• (d) Deadline for receipt: The Company must receive at least 48 hours (i.e. by 10.00am Sydney time on 25October 2016) before the meeting:
  • (i) your completed proxy form; and
  • (ii) if you sign under power of attorney or corporate representative, that power of attorney or corporate representative appointment or a certified copy of it.

Any proxy form received after this deadline (including at the AGM) will be invalid.

• (e) How to send: The proxy form (and any authority appointing an attorney or corporate representative) must be:
  • (i) sent by post to the Company's share registry: Steadfast Group Limited C/– Link Market Services Limited Locked Bag A14 Sydney South, NSW 1235 Australia;
  • (ii) delivered by hand to the Company's shareregistry: Link Market Services Limited 1A Homebush Bay Drive Rhodes NSW 2138;
  • (iii) sent by fax to the Company's share registry on +61 2 9287 0309;or
  • (iv) lodged on-line at www.linkmarketservices.com.au.
• (f) How and when a proxy must vote: If the appointment of a proxy specifies the way the proxy is to vote on a particular resolution:
  • (i) the proxy is not required to vote on a show of hands, but if the proxy does so, the proxy must vote as directed (subject to any applicable voting exclusions);
  • (ii) if the proxy has two or more appointments that specify different ways to vote on the resolution, the proxy must not vote on a show of hands;
  • (iii) if the proxy is not the Chairman of the AGM, the proxy need not vote on a poll but if the proxy does so, the proxy

must vote as directed (subject to any applicable voting restrictions);and

(iv) if the proxy is the Chairman of the AGM, the proxy must vote on a poll and must vote as directed.

Note that the Chairman intends to conduct voting by way of poll.

• (g) Proxy Voting by Chairman: The Chairman of the Meeting will vote undirected proxies in favour of Items 2, 3, 4 and 5. The voting exclusions on KMP in Items 2 and 3 do not apply to the Chairman of the Meeting acting as proxy if their appointment expressly authorises the Chairman of the Meeting to exercise the proxy even if that item is connected directly or indirectly with the remuneration of a KMP of Steadfast.
• (h) Directing proxy votes: We encourage shareholders who are appointing proxies to direct their proxies how to vote on each resolution by crossing a "For", "Against" or "Abstain" box before lodging their proxy form so that their proxy will vote on their behalf in accordance with theirinstructions.

4. Body corporate representative

Any corporation wishing to appoint a person to act as representative at the meeting may do so by providing that person with:

• a "Certificate of Appointment of Corporate Representative" which can be obtained from the Company's share registry; or
• a letter or certificate authorising the person to act as the corporation's representative in accordance with the corporation's constitution;or
• a copy of the resolution appointing the representative, certified by a secretary or director of the corporation.

5. Questions from shareholders

A shareholder of the Company who is entitled to vote at the AGM may submit a question either to the Chairman of the AGM or the Company's auditor by emailing investor@steadfast.com.au. The question(s) may be submitted no later than Friday, 21 October 2016.

Further Details of FY16 Steadfast STI and LTI Plans for the MD & CEO

Further Details of STI Plan:

Purpose and link to strategy	Recognises the contributions and achievements of the MD & CEO and helps to attract andretain talent.
Operation	STI Plan consisting of cash and deferred equity awards of conditional rights to Steadfastordinary shares (DEAs).
Opportunity	STI awards are discretionary, performance based, at risk reward arrangements.
Performance metrics	STI – Cash award (60% of total STI)•achievement of 60% of personal objectives
	•diluted earnings per share (EPS) minimum growth hurdle of 5% to be met
	STI – Deferred equity award (40% of total STI)
	•continuous employment for the vesting period split one-third over one,two and threeyears; and
	•diluted EPS minimum growth hurdle of 5% to be met
Performance hurdles	Non-financial measures – personal, cultural and behavioural objectives as agreed. At least60% of the objectives must be achieved by the MD & CEO to be eligible for any STI.
	The objectives agreed for the MD & CEO for FY16 were:
	•improving margins from broking and underwriting agency businesses;
	•improving performance from major hubs;
	•successful integration of acquisitions including Calliden, CHU and UAA;
	•achieving targets for Steadfast Direct;
	•empowering executives;
	•succession planning implementation; and
	•successful implementation of new technology for back officeefficiencies.
	The MD & CEO achieved a substantial majority of his non-financial objectives andthrough astute negotiation and subsequent acquisition of a number of underwritingagencies, built the largest portfolio of underwriting agencies in Australia and drove theCompany to achieve underlying 11.8% diluted EPS growth in FY16.
	Financial measures – no STI is payable unless at least 5% EPS growth is achievedagainst the FY15 pro forma EPS of 7.24 cents. Maximum STI can be awarded if the EPSgrowth is 15% or more.
Potential maximum STI	The MD & CEO can receive up to 150% of his annual fixed remuneration.
Approval of the STI	The Board approves the MD & CEO's STI based on the financial and his non- financialperformance outcome as recommended by the Remuneration & Succession PlanningCommittee ("RSPC').

Rationale for choosingperformance measures	The financial measure of EPS growth is chosen to ensure long term shareholder value isachieved.
	The non-financial measures are chosen to ensure the MD & CEO performs specifictasks that support the success of the Company.
Forms of STI reward elements	60% is paid as cash, normally in September following the end of financial year.
	40% is granted as DEAs.
Vesting of the DEAs	Vesting is in three equal tranches after one, two and three years from the grant date.DEAs will vest no later than three years after the AGM.
Key terms of STI DEA	DEAs are granted immediately following and subject to approval at the AGM.
	These DEAs are granted to at no cost to the MD & CEO, to the dollar value of theDEAs awarded. No consideration is payable on the conversion into Steadfastordinary shares of the DEAs. Steadfast will not lend Mr Kelly any money in relation to theDEAs.
	The number of DEAs granted is calculated based on the weighted average share priceover the five trading days before the grant date.
	The MD & CEO will become eligible to receive one Steadfast ordinary share per DEAsubject to his continuing employment with the Group over the vesting period postgrant date, and there being no material adverse change to previously reportedresults.
	These DEAs will accrue notional dividends and any bonus element inherent in any rightsissue, which will be paid as additional shares upon vesting.
Forfeiture conditions	The board retains the discretion to adjust any unpaid or unvested performance- relatedremuneration (such as STI – Cash or STI – deferred portion) downwards if it isappropriate to do so.
	The DEAs will be forfeited if the MD & CEO resigns before the vesting date for therelevant DEAs.
	If the MD & CEO ceases employment in special circumstances, such as genuineretirement, any unvested DEAs may be paid in cash and/or Steadfast ordinary sharessubject to board discretion.

Further Details of LTl Plan:

Purpose and link to strategy	Provides opportunity for the MD & CEO to acquire equity in the Company as a rewardfor increasing EPS over the longer term and helps to attract, motivate and retain talent.
Operation	LTI Plan consisting of deferred equity award.
Opportunity	LTI awards are discretionary, performance based, at risk reward arrangement.
Performance metrics	LTI – Deferred equity award (100%)
	•continuous employment and minimum performance rating to be met for thethree year vesting period; and
	•the Group's average diluted EPS increasing by a compound 5% to 12.5% perannum over a three-year vesting period. The vesting schedule is outlined belowunder "Future performancehurdles".
Future performance hurdles	Non-financial measures – personal, cultural and behavioural objectives aligned tothe Group's strategic objectives as agreed with the Board. At least 60% of theobjectives must be achieved by the MD & CEO to be eligible for any LTI.
	The FY16 achievements are shown in the "Strategy and Prospects" section of theDirectors' Report and include items such as:
	•Establishing the Steadfast Client Trading Platform;
	•Launch of Insight broker back office system;
	•Steadfast Direct roll out of threeproducts;
	•Expanded services offered to other jurisdictions including New Zealand;
	•Extraction of cost synergies in the hubs; and
	•Increased offshoring of certain functions.
	Financial measures – no LTI will vest unless the Group's average diluted EPSincreases by a compound 5% to 12.5% per annum over a three year vesting period.The vesting schedule is outlined below:
	Compound average diluted EPSgrowth	Vesting outcome
	Below 5%	0%
	At 5%	50%
	5% to 12.5%	Straight line between 50% to 100%
	12.5% or higher	100%
Potential maximum LTI	in FY16.	The MD & CEO could receive an LTI worth up to 50% of his annual fixed remuneration
Approval of the LTI	The Board will approve the grant and vesting of the LTI based on the financial and nonfinancial performance outcome as recommended by the RSPC.
Rationale for choosing EPSperformance measure	As for STI above.
Form of LTI reward	DEAs which will vest subject to a three year tenure hurdle and meeting the futureperformance hurdles from the grant date. DEAs will vest no later than three years afterthe AGM.
Key terms of LTI DEA	are subject to future performance hurdles.	As for STI above except DEAs under the LTI will not accrue notional dividends as they
Forfeiture conditions	As for STI above.

ACN 073 659 677

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PROXY FORM

I/We being a member(s) of Steadfast Group Limited and entitled to attend and vote hereby appoint:

APPOINT A PROXY

the Chairman of the Meeting (mark box)

OR if you are NOT appointing the Chairman of the Meeting as your proxy, please write the name of the person or body corporate you are appointing as your proxy

STEP 1or failing the person or body corporate named, or if no person or body corporate is named, the Chairman of the Meeting, as my/our proxy to act on my/our behalf (including to vote in accordance with the following directions or, if no directions have been given and to the extent permitted by the law, as the proxy sees fit) at the Annual General Meeting of the Company to be held at 10:00am on Thursday, 27 October 2016 at Castlereagh Room, Sheraton on the Park, 161 Elizabeth Street, Sydney (the Meeting) and at any postponement or adjournment of the Meeting. SAMPLE

Important for Resolutions 2 and 3: If the Chairman of the Meeting is your proxy, either by appointment or by default, and you have not indicated your voting intention below, you expressly authorise the Chairman of the Meeting to exercise the proxy in respect of Resolutions 2 and 3, even though the Resolutions are connected directly or indirectly with the remuneration of a member of the Company's Key Management Personnel (KMP).

The Chairman of the Meeting intends to vote undirected proxies in favour of each item of business.

VOTING DIRECTIONS

Proxies will only be valid and accepted by the Company if they are signed and received no later than 48 hours before the Meeting. Please read the voting instructions overleaf before marking any boxes with an T

Resolutions		ForAgainst Abstain*
2	Remuneration Report
3	Grant of equity to CEO
4	Re-election of director –Ms Anne O'Driscoll
5	Re-election of director –Mr Greg Rynenberg

* If you mark the Abstain box for a particular Item, you are directing your proxy not to vote on your behalf on a show of hands or on a poll and your votes will not be counted in computing the required majority on a poll.

SIGNATURE OF SHAREHOLDERS – THIS MUST BE COMPLETED

STEP 3

STEP 2

Shareholder 1 (Individual) Joint Shareholder 2 (Individual) Joint Shareholder 3 (Individual)

Sole Director and Sole Company Secretary Director/Company Secretary (Delete one) Director

This form should be signed by the shareholder. If a joint holding, either shareholder may sign. If signed by the shareholder's attorney, the power of attorney must have been previously noted by the registry or a certified copy attached to this form. If executed by a company, the form must be executed in accordance with the company's constitution and the Corporations Act 2001 (Cth).

SDF PRX1601C

YOUR NAME AND ADDRESS

This is your name and address as it appears on the Company's share register. If this information is incorrect, please make the correction on the form. Shareholders sponsored by a broker should advise their broker of any changes. Please note: you cannot change ownership of your shares using this form.

APPOINTMENT OF PROXY

If you wish to appoint the Chairman of the Meeting as your proxy, mark the box in Step 1. If you wish to appoint someone other than the Chairman of the Meeting as your proxy, please write the name of that individual or body corporate in Step 1. A proxy need not be a shareholder of the Company.

DEFAULT TO CHAIRMAN OF THE MEETING

Any directed proxies that are not voted on a poll at the Meeting will default to the Chairman of the Meeting, who is required to vote those proxies as directed. Any undirected proxies that default to the Chairman of the Meeting will be voted according to the instructions set out in this Proxy Form, including where the Resolutions are connected directly or indirectly with the remuneration of KMP.

VOTES ON ITEMS OF BUSINESS – PROXY APPOINTMENT

You may direct your proxy how to vote by placing a mark in one of the boxes opposite each item of business. All your shares will be voted in accordance with such a direction unless you indicate only a portion of voting rights are to be voted on any item by inserting the percentage or number of shares you wish to vote in the appropriate box or boxes. If you do not mark any of the boxes on the items of business, your proxy may vote as he or she chooses. If you mark more than one box on an item your vote on that item will be invalid. SAMPLE

APPOINTMENT OF A SECOND PROXY

You are entitled to appoint up to two persons as proxies to attend the Meeting and vote on a poll. If you wish to appoint a second proxy, an additional Proxy Form may be obtained by telephoning the Company's share registry or you may copy this form and return them both together.

To appoint a second proxy you must:

• (a) on each of the first Proxy Form and the second Proxy Form state the percentage of your voting rights or number of shares applicable to that form. If the appointments do not specify the percentage or number of votes that each proxy may exercise, each proxy may exercise half your votes. Fractions of votes will be disregarded; and
• (b) return both forms together.

SIGNING INSTRUCTIONS

You must sign this form as follows in the spaces provided:

Individual: where the holding is in one name, the holder must sign.

Joint Holding: where the holding is in more than one name, either shareholder may sign.

Power of Attorney: to sign under Power of Attorney, you must lodge the Power of Attorney with the registry. If you have not previously lodged this document for notation, please attach a certified photocopy of the Power of Attorney to this form when you return it.

Companies: where the company has a Sole Director who is also the Sole Company Secretary, this form must be signed by that person. If the company (pursuant to section 204A of the Corporations Act 2001) does not have a Company Secretary, a Sole Director can also sign alone. Otherwise this form must be signed by a Director jointly with either another Director or a Company Secretary. Please indicate the office held by signing in the appropriate place.

CORPORATE REPRESENTATIVES

If a representative of the corporation is to attend the Meeting the appropriate "Certificate of Appointment of Corporate Representative" should be produced prior to admission in accordance with the Notice of Meeting. A form of the certificate may be obtained from the Company's share registry or online at www.linkmarketservices.com.au.

LODGEMENT OF A PROXY FORM

This Proxy Form (and any Power of Attorney under which it is signed) must be received at an address given below by 10:00am on Tuesday, 25 October 2016, being not later than 48 hours before the commencement of the Meeting. Any Proxy Form received after that time will not be valid for the scheduled Meeting.

Proxy Forms may be lodged using the reply paid envelope or:

ONLINE

www.linkmarketservices.com.au

Login to the Link website using the holding details as shown on the Proxy Form. Select 'Voting' and follow the prompts to lodge your vote. To use the online lodgement facility, shareholders will need their "Holder Identifier" (Securityholder Reference Number (SRN) or Holder Identification Number (HIN) as shown on the front of the Proxy Form).

BY MOBILE DEVICE

Our voting website is designed specifically for voting online. You can now lodge your proxy by scanning the QR code adjacent or enter the voting link www.linkmarketservices.com.au into your mobile device. Log in using the Holder Identifier and postcode for your shareholding.

To scan the code you will need a QR code reader application which can be downloaded for free on your mobile device.

BY MAIL

Steadfast Group Limited C/- Link Market Services Limited Locked Bag A14 Sydney South NSW 1235 Australia

BY FAX +61 2 9287 0309

BY HAND

delivering it to Link Market Services Limited* 1A Homebush Bay Drive Rhodes NSW 2138

* During business hours (Monday to Friday, 9:00am–5:00pm)