WAM ACTIVE LIMITED — Capital/Financing Update 2015

Jun 30, 2015

WAM Active Limited (WAA) ASX Announcement 1 July 2015

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$110M priority allocation in Future Generation Global for WAM, WAX and WAA shareholders

The Board of the newly established Future Generation Global Investment Company Limited ( FGG ) is aiming to raise up to $550 million in an initial public offering ( FGG Offer ) and is offering a priority allocation to WAM Capital Limited, WAM Research Limited and WAM Active Limited shareholders with a registered address in Australia or New Zealand ( WAM eligible participants ).

The FGG Offer, including the offer of a priority allocation to WAM eligible participants, is contained in the replacement prospectus issued by FGG and dated Tuesday, 30 June 2015 ( Prospectus ). A copy of FGG’s replacement prospectus is available at www.futuregeninvest.com.au/global. Before deciding to participate in the FGG Offer, you should read the Prospectus carefully. It contains detailed information about FGG and the offer of shares and options.

FGG will be Australia’s first internationally focused listed investment company with the dual objectives of providing shareholders with diversified exposure to selected global equities and improving the lives of young Australians affected by mental illness.

FGG will seek to invest its capital with selected global fund managers who agree to forgo their management and performance fees. Each year a percentage of these forgone fees will be donated to selected Australian charities that operate in the mental health area.

FGG will issue up to 500 million shares, at $1.10 per share, each with an attaching bonus option to acquire 1 additional share, exercisable at $1.10 per option on or before 15 September 2017.

Under the FGG Offer, FGG will raise up to $550 million (before the exercise of any options). Funds raised under the FGG Offer will be used to undertake investments consistent with FGG’s investment objectives and guidelines outlined in FGG’s Prospectus and pay the costs associated with the offer.

Of the 500 million shares and options available under the offer, 100 million are available to WAM Group shareholders under the WAM priority allocation.

Anyone who wants to participate in the FGG Offer and acquire shares and options in FGG will need to complete an application form attached to, or provided with, the Prospectus. WAM eligible participants should use the priority allocation application form. Early lodgement of an application is recommended as the offer may be closed early at the FGG directors’ discretion.

If FGG receives applications from WAM eligible participants for more than 100 million shares and 100 million options, it intends to treat such additional applications as being made under the general offer on a general offer application form.

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WAM Active Limited (WAA) ASX Announcement 1 July 2015

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Indicative timeline*

Indicative timeline*
Date of Replacement Prospectus	30 June 2015
Offer expected to open	6 July2015
Broker Firm Offer expected to close	21 August 2015
Offer expected to close	28 August 2015
Priority Allocation offer closes	28 August 2015
Date of allotment / date of despatch of holding statements	7 September 2015
Trading of Shares and Options expected to commence on ASX	10 September 2015
Option Expiry Date	15 September 2017

*The above dates are indicative only and may vary. FGG reserves the right to amend this indicative timetable, including by closing the FGG Offer early or extending the Closing Date, subject to the requirements of the Listing Rules and the Corporations Act.

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Contacts

James McNamara Geoff Wilson Louise Walsh Chris Donohoe WAM and FGG Corporate WAM Chairman and FGG FGG Joint CEO FGG Joint CEO Affairs Director +61 416 734 080 +61 2 9247 9202 +61 419 416 618 +61 413 315 631 james@wamfunds.com.au info@wamfunds.com.au louise@futuregeninvest.com.au chris@futuregeninvest.com.au

About Future Generation Global Investment Company

How it will work

FGG will seek to invest its capital with selected global fund managers who agree to forgo their management and performance fees. Each year a percentage of these forgone fees will be donated to selected Australian charities that operate in the mental health area.

FGG relies on the support and generosity of the following fund managers:

• Magellan Asset Management Limited

• Cooper Investors Pty Limited

• IronBridge Capital Management L.P.

• Paradice Investment Management Pty Ltd

• Nikko Asset Management

• Eastspring Investments (Singapore) Limited

• Insync Funds Management Pty Ltd

• Hunter Hall Investment Management Limited

• Ellerston Capital Limited

• Antipodes Partners Limited

• VGI Partners Pty Ltd

• Manikay Partners, LLC

• Avenir Capital Pty Ltd

• Morphic Asset Management Proprietary Limited

• Optimal Fund Management Pty Ltd

• Neuberger Berman Australia Pty Limited

• Tribeca Investment Partners Pty Ltd.

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WAM Active Limited (WAA) ASX Announcement 1 July 2015

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In addition, the following leading service providers have agreed to work pro bono:

• Watson Mangioni Lawyers Pty Limited

• White Outsourcing Pty Limited

• Moore Stephens Sydney Corporate Finance Pty Limited

• Moore Stephens Pty Limited

• Mertons Corporate Services Pty Limited

• Boardroom Pty Limited

• Wilson Asset Management (International) Pty Limited

• Matrix Solutions Pty Limited

• Seed Partnership Pty Limited

• Webb Henderson

• LiveWire

• Slidemaster.

FGG’s charitable objective

Selected global fund managers have united to assist FGG to achieve its goal of creating long term capital growth for shareholders while also improving the lives of young Australians affected by mental illness. FGG seeks to prove via its innovative approach to wealth creation that both shareholder and social returns can be achieved together.

FGG is determined to transform youth mental health by driving philanthropic investment in three core areas:

• Helping the community understand the issue

• Investing in the most effective programs and services

• Enabling investment in research and development.

Designated charities include:

• beyondblue

• Black Dog Institute

• Brain and Mind Research Institute

• Butterfly Foundation

• headspace National Youth Mental Foundation Ltd

• MadCap Social Enterprise

• Orygen, The National Centre of Excellence in Youth Mental Health

• ReachOut Australia

• SANE Australia.

Youth mental health in Australia

Nearly half (45%) of all Australians will experience a mental health problem, and as many as one in five will do so in any given year. Adolescents and young adults are especially at risk, with 75% of mental health problems first appearing before the age of 25. Timely and appropriate help-seeking, particularly during adolescence, can reduce the long-term health, personal, economic and social impact of many of these mental health problems[1] .

1These statistics were taken from a paper published by Ernst and Young and Reachout.com called “A way Forward: Equipping Australians Mental Health System for the Next Generation”.

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