Appendix B Searches

 

pnoy. 1 2B

A The trust

Establishment of a discretionary trust

1 The settlor named in the Schedule, Brereton John Kay, has paid the Settled Sum
specified in the Schedule to the trustee named in the Schedule, Macmartin investments
Pty Ltd, ACN 613 605 968 to establish the Martin investment Trust. Macmartin
investments Pty Ltd, ACN 613 605 968 has agreed to be the initial trustee of the trust.
The trustee is to act in accordance with this deed. The trust is to commence on the day
this deed is executed and is to end on the ‘vesting day’.

Beneficiaries of the trust

2 The beneficiaries of the trust are:

* the persons named in the Schedule as beneficiaries; and

e the persons who are members of any of the classes of eligible beneficiaries
specified in the Schedule.

Trustee may nominate additional beneficiaries

3 The trustee may at any time nominate one or more persons (except the settlor) as an
additional class of eligible beneficiaries under this deed. The trustee may do so by
signing a statement to that effect.

However, the trustee must not do so without the consent of the appointor.

Trustee may delete a class of eligible beneficiaries

4 The trustee may at any time, with the consent of the appointor, delete a class of eligible
beneficiaries from the Schedule to this deed. The trustee may do so by signing a
statement to that effect.

_ Interest of named beneficiaries and members of classes of beneficiaries

5 A named beneficiary or a member of a class of eligible beneficiaries has no interest in
any part of the trust fund or any of its income. Nor, as a group, do all the named
beneficiaries and members of all the classes of eligible beneficiaries.

B Distributions under the trust

Until vesting day, the trustee has absolute discretion to distribute income to beneficiaries

6: . Until the vesting day, the trustee has an absolute discretion to decide to distribute any
part of the income of the trust fund for a financial year, in any proportions the trustee
decides, to any one or more persons who are named in the Schedule as beneficiaries or
who are members of any of the classes of eligible beneficiaries described in the
Schedule. The trustee has an absolute discretion to exclude a named beneficiary or a
member of a class of beneficiaries.