2 Chairman’s letter

2

Dear Investor,

We are very pleased to bring this new investment opportunity to market and invite you to become a Unitholder in 360 Capital Active Value Equity Fund. The Fund is positioned to capitalise on the lack of truly active, aligned and independent equity investing within Australia and New Zealand. The Fund is seeking to raise funds through the issue of Stapled Units in the Fund. The Fund has been established with an investment of up to $10.0 million of long-term co-investment capital from 360 Capital Group. The Fund offers Unitholders: • Active management strategy. The Fund will, on behalf of its Unitholders, engage constructively with its investments as appropriate to each holding. • Diversified exposure to a portfolio of inexpensive investments, with a target 3 to 5 year horizon to maximise the investment outcome for each holding. • Investment Manager alignment with Unitholders, through 360 Capital Group’s co-investment of up to $10.0 million. • No base management fee imposed by the Investment Manager. Investment Manager fees will only be accrued for performance enjoyed. • Proven leadership team with more than 20 years operating experience in funds management, banking and risk management. • Potential whole of capital solution through partnering with 360 Capital Group’s credit team. • Quarterly distributions where appropriate. • An Initial Term of 18 months, then subject to its obligations at law, the Responsible Entity will endeavor to provide liquidity to all Unitholders wishing to redeem all or some of their investment every three months. Outside individual Unitholder considerations this Fund is intended to be “evergreen”. The Fund will be managed by 360 Capital Equities Management Pty Limited (Investment Manager). The Investment Manager’s equity strategies are headed up by Dennison Hambling. Dennison has over 20 years’ experience in investment management and company analysis across Australasia and has significant experience originating and executing wide ranging transactions in the unlisted to mid-market space. Dennison has experience across a diversified range of industries. Prior to joining 360 Capital Group, Dennison was the Chief Investment Officer at First Samuel Ltd for 12 years and prior to this worked at Cooper Investors, Goldman Sachs and NZ Funds Management. Dennison is currently a Non-executive Director of Threat Protect Australia Limited, and portfolio company “Cardioscan”.

The Responsible Entity is a wholly owned subsidiary of 360 Capital Group, an ASX-listed (ASX: TGP) alternative asset investment and funds management group concentrating on strategic and active investment management of alternative assets. As at the date of the PDS, 360 Capital Group has a market capitalisation of approximately $215 million and manages listed and unlisted funds on behalf of investors. This PDS contains detailed information about the Offer and the Fund’s investment strategy, its operations, financial performance and prospects. You should read this PDS carefully and in its entirety, including Section 10, which sets out fees and other costs associated with investing in the Fund, and Section 8, which sets out potential risks associated with investing in the Fund. In addition, you should consider seeking relevant professional advice before deciding to apply for Stapled Units. Thank you for your consideration of this opportunity to invest in the Fund. We look forward to welcoming you as a Unitholder of the Fund.

Yours sincerely,

Mr David van Aanholt Independent Chairman 360 Capital FM Limited Mr Dennison Hambling Head of Public and Private Equity 360 Capital Equities Management Pty Limited