Directors’ Report

Your directors submit their report on Parramatta Leagues’ Club Ltd (the “Company”) and the entities it controlled (collectively, the “Group”) for the year ended 31 October 2020. Directors The names of the Group’s directors in office during the financial year and until the date of this report are set out below. The directors were in office for this entire period, unless otherwise stated. Darren Adam (Appointed: 5 March 2020) Gregory Monaghan (Appointed: 5 March 2020) Joy Cusack (Appointed: 5 March 2020) Mark Jenkins (Appointed: 5 March 2020) Max Donnelly (Resigned: 6 March 2020) Murugan Thangaraj (Appointed: 5 March 2020; Resigned: 10 August 2020) Philip Sim (Appointed: 5 March 2020) Richard Foda (Appointed: 5 March 2020) Susan Coleman (Appointed: 27 August 2020)

Dividends No dividends have been paid or declared during the year, nor do the directors recommend the declaration of dividend (2019: $nil).

Principal activities The principal activities of the Group during the course of the financial year consisted of the conduct and promotion of licensed social clubs for members of the club and promotion of rugby league football within the Parramatta district. There were no significant changes in the nature of the Group’s activities during the year.

Overall objectives To ensure Parramatta Leagues’ Club Ltd is the most professional and progressive multi-purpose hospitality venue in Greater Western Sydney, by providing excellence in service and amenities for all members; and to foster, encourage, promote and control the development, playing and interests of rugby league football within the area of the geographical boundaries of Parramatta National Rugby League Club Pty Limited, a subsidiary within the Group, as defined from time to time in the by-laws of the league’s governing body. Operating results for the period The net profit after tax of the Group for the year ended 31 October 2020 was $2,122,865 (2019: $2,269,737).

Significant changes in the state of affairs Impact of the Coronavirus (COVID-19) outbreak The COVID-19 outbreak was declared a pandemic by the World Health Organization in March 2020. Due to COVID-19 pandemic, the business was temporarily shut down during 23 March 2020 to 1 June 2020, and operates under limited capacity as at the date of this report. In addition, the National Rugby League (NRL) competitions were temporarily suspended during March 2020, and resumed in May 2020 with limited attendances. The New South Wales Rugby League (NSWRL) competitions were also cancelled during the financial year ended 31 October 2020. These returned in a much affected way to the business. The outbreak and the response of Governments in dealing with the pandemic is interfering with general activity levels within the community, the economy and the operations of the business. The scale and duration of these developments remain uncertain as at the date of this report however they may have an impact on the future earnings, cash flow and financial condition. There have been no other significant changes in the state of affairs of the Group during the year.

Significant events after the reporting period The Group’s investment property, 2 Ferris Street, Parramatta NSW 2150, has been entered into a contract of sale subsequent to the financial year end on 4 December 2020. There have been no other significant events occurring after the reporting period which may affect either the Group’s operations or results of those operations or the Group’s state of affairs.

Likely developments and expected results Likely developments in the operations of the Group and the expected results of those operations in future financial years have not been included in this report as the inclusion of such information is likely to result in unreasonable prejudice to the Group.

Environmental regulation The Group is not subject to any particular or significant environmental regulation under laws of the Commonwealth or of a State or Territory.

DIRECTORS’ REPORT

Meetings of Directors The number of meetings the Company’s directors held during the year ended 31 October 2020 and the number of meetings attended by the directors was: Full meetings of directors

Darren Adam

Gregory Monaghan Joy Cusack Mark Jenkins

Max Donnelly Murugan Thangaraj Philip Sim Richard Foda

A B

9 9

8 9

9 9

9 9

5 5

6 6

9 9

9 9

Susan Coleman 2 2

A = Number of meetings attended B = Number of meetings held during the time the director held office during the period. In addition all Directors were members of Board Committees as set out in Appendix 1.

Insurance of directors and officers During the financial year, Parramatta Leagues’ Club Ltd held a management liability insurance policy under the directors and officers liability cover. The liabilities insured are legal costs that may be incurred in defending civil or criminal proceedings that may be brought against the directors and officers in their capacity as officers of the Company, and any other payments arising from liabilities incurred by the directors and officers in connection with such proceedings. This does not include such liabilities that arise from conduct involving a wilful breach of duty by the directors and officers or the improper use by the officers of their position or of information to gain advantage for themselves or someone else or to cause detriment to the company. It is not possible to apportion the premium between amounts relating to the insurance against legal costs and those relating to other liabilities.

Indemnification of auditor To the extent permitted by law, the Company has agreed to indemnify its auditor, Ernst & Young (Australia), as part of the terms of its audit engagement agreement against claims by third parties arising from the audit (for an unspecified amount). No payment has been made to indemnify Ernst & Young (Australia) during or since the financial year.

Proceedings on behalf of the Company No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Company, or to intervene in any proceedings to which the Company is a party, for the purpose of taking responsibility on behalf of the Company for all or part of those proceedings. No proceedings have been brought or intervened in on behalf of the Company with leave of the Court under section 237 of the Corporations Act 2001.

Membership The Company is a company limited by guarantee and is without share capital. The number of members as at 31 October 2020 was 52,221 (2019: 49,014).

Members’ limited liability In accordance with the Constitution of the Company, every member of the Company undertakes to contribute an amount limited to $4 per member in the event of the winding up of the Company during the time that he or she is a member or within one year thereafter.

Auditor’s independence declaration The directors have received a declaration from the auditor of Parramatta Leagues’ Club Ltd. This has been included on page 4. Ernst & Young (Australia) was appointed as auditor in accordance with Section 327 of the Corporations Act 2001. Signed in accordance with a resolution of the directors.

Gregory Monaghan Director Sydney 17 December 2020

AUDITOR’S INDEPENDENCE DECLARATION

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Auditor's Independence Declaration to the Directors of Parramatta Leagues Club Limited and its controlled entities

As lead auditor for the audit of the financial report of Parramatta Leagues Club Limited for the financial year ended 31 October 2020, I declare to the best of my knowledge and belief, there have been:

a. No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and b. No contraventions of any applicable code of professional conduct in relation to the audit. This declaration is in respect of Parramatta Leagues Club Limited and the entities it controlled during the financial year.

Ernst & Young �c£Z-

Daniel Cunningham Partner 1 7 December 2020

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation