we make it easy for you

Investment Guide PDS Supplement we make it easy for you Dated 10 November 2015 CARE Super Pty Ltd (Trustee) ABN 91 006 670 060 AFSL 235226 CARE Super (Fund) ABN 98 172 275 725

helping you to achieve your investment goals Contents Choosing your investment 2 Risk 3 Understanding asset classes 4 Investing with CareSuper 5 Risk vs return 5 Sustainable investing 8 Investment options at a glance 9 Managed options 10 Asset Class options 14 Direct Investment option 16 Annual performance results 26 Other investment information 27 Keeping in touch is easy! 29 Checklist what to do 1. Read this guide to understand your options and contact us on 1300 360 149 if you need any further information. 2. Consider seeking professional advice from a qualified financial planner. A financial planner can provide advice which takes into account your personal situation, objectives or needs. 3. Select an investment option or combination of investment options (see pages 10 to 25) 4. Visit caresuper.com.au/login and log on to MemberOnline to make your switch, or Complete an Investment choice form and send it back to CareSuper (not applicable for the Direct Investment option). You can download a copy of the Investment choice form from caresuper.com.au/pds or request one by calling the CareSuperLine on 1300 360 149. The information contained in this document is general information only. This document does not, and is not intended to, contain any recommendations, statements of opinion or advice. The information in this document is general in nature and does not consider any one or more of your objectives, financial situation or needs. Before acting on this information you should consider obtaining advice from a licensed financial product adviser and consider the appropriateness of this information, having regard to your particular investment needs, objectives and financial situation. The information in this document forms part of the following CareSuper Product Disclosure Statements (PDS): Member Guide PDS dated 10 November 2015 Corporate insurance (CIA) PDS dated 10 November 2015

Investment performance at a glance Consistent, long-term returns from an award-winning fund The better your super fund performs, the more money it makes for you. Of course, super is a long-term investment and there will always be good and bad years. But over ten years, CareSuper s Balanced option (also known as the MySuper option) has regularly been one of Australia s top performing super funds.* * Past performance is not a reliable indicator of future performance and you should consider other factors before choosing a fund or changing your investments. Source: SuperRatings Fund Crediting Rate Survey SR50 Balanced (60 76) Index, June 2015. Compound average superannuation returns (after tax and indirect investment fees) to 30 June 2015 Compare CareSuper s Balanced (MySuper) option returns as at 30 June 2015 Investment options 10 years (% p.a.) 5 years (% p.a.) 3 years (% p.a.) 1 year (%) Managed options Capital 3.70 2.22 1.82 2.91 Guaranteed Capital Stable 6.15 7.59 8.37 6.67 Conservative 6.60 8.67 10.31 8.26 Balanced Balanced (MySuper) 7.39 10.31 13.23 10.76 Sustainable Balanced 6.70 9.81 12.69 9.79 Alternative Growth 7.35 10.29 13.06 9.68 Growth 7.67 11.21 15.65 11.78 Asset Class options Capital Secure 4.01 3.62 3.00 2.78 Fixed Interest 6.05 6.81 5.28 4.87 Direct Property 6.77 8.00 8.02 9.61 Australian Shares 7.52 10.07 14.95 7.60 Overseas Shares 7.82 14.49 23.04 20.47 Past performance is not a reliable indicator of future performance and you should consider other factors before choosing a fund or changing your investments. Returns have been rounded to two decimal places. The returns featured on this page are based on CareSuper s approach to calculating returns during the periods shown. Refer to the information later this guide explaining how investment returns currently are calculated. The calculation of returns will vary from time to time depending on the indirect investment fees and taxes that are applicable at the time. 16% 14% 12% 10% 8% 6% 4% 2% 0% 10 years 5 years 3 years 1 year 7.39 6.44 10.31 CareSuper Balanced Option Median Balanced Option^ 9.11 13.23 12.17 10.76 9.60 Please note: CareSuper s 3, 5 and 10-year returns are compound average annual returns after tax and indirect investment fees. Past performance is not a reliable indicator of future performance and you should consider other factors before choosing a fund or changing your investments. Returns have been rounded to two decimal places. ^Source: SuperRatings Fund Crediting Rate Survey SR50 Balanced (60 76) Index, June 2015. This survey includes Balanced options for industry funds and master trusts reviewed by SuperRatings Pty Ltd (but not all funds). Investment performance Investment performance comparisons will vary from time to time. For up to date information, visit caresuper.com.au/investments. The annual returns for certain investments held by members of the Direct Investment option as at 30 June will be disclosed to members of the Direct Investment option each year as part of their annual member statements. The returns provided may differ from members actual returns. 1

Choosing your investment With member investment choice, CareSuper gives you the opportunity to take more control of your financial future. Can you visualise your super future? Our wide range of online tools and calculators to help get you there. You can use the calculators to help you estimate what your income might be in retirement. We re also working on adding more calculators on investments and insurance soon. Visit caresuper.com.au/ supercalculators to get started. The key to making investment decisions lies in determining your personal investment profile. While CareSuper can provide you with general information, you are encouraged to seek professional investment advice appropriate to your circumstances before making any investment decisions. As a CareSuper member, you can access super-related advice over the phone for simple matters such as investment choice within the Fund (excluding investments available through the Direct Investment option) at no extra cost. For more complex matters, members can meet with highly qualified, dedicated financial planners at CareSuper offices on a fee-for-service basis. This financial planning advice is provided through Industry Fund Services Limited.* You can visit caresuper.com.au/advice, to find out more about the financial advice that s available to CareSuper members at no extra cost. A number of factors will help you determine your investment profile including: The length of time your money will be invested Your attitude towards investment risk Other investments you may have The amount of money being invested, and The level of investment returns you expect. CareSuper provides you with 13 investment options, consisting of seven Managed options, five Asset Class options and the Direct Investment option. You can choose one or a combination of investment options to create a strategy that suits your investment objectives, time frame and tolerance for risk. Managed options have a predetermined mix of asset classes, such as shares, property, fixed interest and cash, in various proportions. Asset Class options are invested 100% in a particular asset class or investment sector. The Direct Investment option enables eligible members to invest part of their super in a choice of certain term deposits and their range of listed securities including exchange-traded funds, listed investment companies and the securities included in the S&P/ASX 300 Index. All investments carry a level of associated risk. The following page provides an explanation of the different types of risks you should consider when choosing your investment strategy. * Financial advice is offered through CareSuper s relationship with Industry Fund Services Limited (IFS), and is provided by an authorisation under the Australian financial services licence of IFS, ABN 54 007 016 195, AFSL 232514. For information about the advice services provided by Industry Fund Services Limited. and applicable fees, refer to the Industry Fund Services Financial Services Guide. Any fee-for-service for personalised advice will be set out in a Statement of Advice. what are you waiting for? take more control of your financial future today 2

take a moment to understand the volatility and risk of your investment choices Risk All investments have a varying degree of risk and can change in value. Risk can mean either a fall in the value of your investment, particularly over shorter periods, or your investment not meeting your investment objectives over the long term. Your super is no exception, so you should be aware of the risk profile of any super fund option in which you invest. Volatility refers to the extent to which an investment significantly increases or decreases in value over a short period. When investing, some of the most significant risks are: Inflation This reflects changes in the cost of living over time, as measured by the Consumer Price Index (CPI). As the cost of living changes, so does the real value of money. Therefore when the CPI increases, a certain dollar amount has less purchasing power. When an investment provides a lower return than the increase in inflation, it actually loses value in terms of purchasing power. As super is a long-term investment, it is important to invest in assets that are expected to generate returns higher than inflation over the medium to long term. Liquidity This refers to the ability to convert an investment into cash with little or no loss of capital and minimum delay. Some investments, such as direct property, infrastructure and private equity, are relatively illiquid. While Direct Investment option investments are generally regarded as liquid, there may be delays in processing payments due to corporate actions outside the Trustee s control or if you wish to break a term deposit prior to maturity. See page 24 for more information. Financial loss This refers to the risk that different assets could lose value, as discussed below: Market risks each asset class is affected by economic, technological, political or legal conditions within its own or related markets. In these contexts, investor or consumer sentiment can change as market conditions are seen to be more or less favourable. This may affect the value of investments, which may rise or fall. Interest rate risk can have a positive or negative impact on the investment returns of different asset classes. In particular, the price of fixed interest investments tends to fall when interest rates rise. This is because investors are less willing to buy existing securities on issue as new securities are issued with higher interest rates. Currency risk when a fund invests in other countries in any asset class, any change in the value of foreign currencies relative to the Australian dollar will increase or decrease the value of your investment. Security-specific risk when something happens to an individual company or asset that causes the value of the investment to fall sharply. For example, this can be caused by bankruptcy or fraudulent activity. Derivatives risk derivatives are used to reduce risk or gain exposure to other types of investments when appropriate. CareSuper s managers may invest in derivatives in order to assist with the effective management and protection of CareSuper s assets. Derivatives may not be used to gear the portfolio or to cause the overall exposure of any asset class to breach the specified long-term strategy ranges. CareSuper has a Derivatives Risk Statement to govern the use of derivatives. Each investment manager has risk management processes in place in relation to the use of derivatives and the purposes for which they are used. Managing risk A key to successfully managing risk is diversification spreading your investments across a range of different asset classes or types of investments. For example, one asset class may be performing poorly while another experiences better returns, offsetting the poor performance of the first asset class. CareSuper s Managed options have a pre-mixed range of asset classes as well as a mix of managers. The levels of diversification vary according to the investment objectives and strategies. Although the Asset Class options may be selected on their own, CareSuper s investment menu means that you can create your own mix by selecting them in proportions to create a diversified portfolio to suit you, or by mixing them with Managed options. Standard Risk Measure CareSuper uses a Standard Risk Measure to classify our investment options according to their risk level. The Standard Risk Measure is based on industry guidance and allows you to compare investment options that are expected to deliver a similar number of negative annual returns over any 20-year period. The Standard Risk Measure is not a complete assessment of all forms of investment risk. It does not detail the size of a potential negative return, or your chances of not meeting your investment objectives. Members should ensure they are comfortable with the risks and potential losses associated with their chosen option. For further information on the method we use to classify investments, visit caresuper.com.au/investments. Risk 3

Understanding asset classes CareSuper invests your super savings within the Managed and Asset Class options across five main types of investments or asset classes. Information about assets available via the Direct Investment option is shown later in this guide. You can view your personal asset class allocation by logging into MemberOnline from caresuper.com.au/login. The pie chart on the My home page shows the asset classes in which your super is invested as well as the percentage of your super in each asset class. CareSuper classifies different assets into broad asset classes based on the recommendation of our asset consultant and the general approach of the superannuation industry. Updated information about how we classify our asset classes can be found on our website at caresuper.com.au. These are: Australian and overseas shares Property Alternatives Fixed interest (or bonds), and Cash. Managed options aim to smooth out volatility in any one asset class by holding multiple asset classes in varying proportions. It is sensible to consider diversification in an investment portfolio as different asset classes experience long- and short-term volatility. The asset classes used in an investment option determine the option s risk vs return profile. See the graph on the next page for an indication of the risk vs return for each of CareSuper s investment options. Shares An investment in shares provides part ownership of a company. Share prices may be very volatile over short time frames, but over the longer term have produced the highest investment returns (relative to other asset classes). In some years, the returns may be negative. Property Property investments include commercial, industrial and retail real estate. Property investments can provide returns in two ways: Through rental income, and By increases (or decreases) in capital value over time. Historically, property investments have produced moderate to high returns (relative to other asset classes) over the long term, but as property values can rise and fall over time, they are subject to a medium to high level of risk. Alternatives Alternative investments is a broad term used to describe a range of different types of investments. CareSuper groups these into four broad categories: Infrastructure: These are mainly equity holdings in transport, utility and social assets, including airports, toll roads, shipping ports, electricity and gas generation and distribution assets, schools and hospitals. Private equity: These investments comprise mainly equity holdings in unlisted companies, ranging from those in an early stage of development (venture capital) to more mature businesses seeking capital restructure, change of ownership or expansion. Credit: This asset class is comprised of interest-bearing debt securities issued by non-government entities, eg. large corporations. These securities are generally floating rate securities that appear fundamentally undervalued. Absolute return: This asset class includes investments across the broad mix of investment strategies in the global financial markets. The managers aim to produce a return in excess of cash over the long term, but with less volatility than would be experienced from shares. Fixed interest Fixed interest investments (or bonds) are interest-bearing debt securities issued by governments and large corporations. These investments are held for a set period of time in exchange for a set rate of return that is generally higher than cash. Historically, fixed interest has generally produced a low to moderate level of investment return (relative to other asset classes) over the long term and is subject to a low to medium level of risk. Cash Cash investments generally take the form of cash, term deposits and discounted securities (including short-term bank bills, commercial paper and short-term fixed interest investments). Historically, cash has earned a low level of investment return (relative to other asset classes) but generally has a very low level of risk. 4

Investing with CareSuper Now that you ve considered the detailed information about risks and understand the various types of investments available, you are ready to discover CareSuper s member investment choices. Plenty of investment options When it comes to investing, CareSuper gives you lots of flexibility. CareSuper s investment options are divided into seven Managed options, which have a mix of investments pre-determined by CareSuper, five Asset Class options and the Direct Investment option. You can choose to invest in one or a combination of the investment options, in the proportions you want. Subject to special rules that apply to the investments available via the Direct Investment option, you can even choose to invest your existing account balance differently to your future contributions and change your investment choices as frequently as weekly. If you are making a one-off voluntary contribution or rolling money in from another fund, you can instruct us to invest it differently to your future contributions. Simply send us an email (or write to us) when you make the contribution, specifying how you would like it invested. Include your member number, how much you contributed and how you made your contribution (e.g. cheque etc.) so that we can match your instructions to your account. Instructions relating to investments available via the Direct Investment option can only be made online. If you don t want to make an investment choice, your super will automatically be invested in CareSuper s Balanced option (also known as the MySuper option). The Balanced option has a record of competitive returns with a 10-year average return (net of tax and indirect investment fees) to 30 June 2015 of 7.39% p.a.* And remember, you can always exercise investment choice at a later date if you change your mind. * Past performance is not a reliable indicator of future performance and you should consider other factors before choosing a fund or changing your investments. This return is based on CareSuper s approach to calculating returns up to 30 June 2015. Returns calculations depend on applicable indirect investment fees and taxes and may vary from time to time. Risk vs return This graph shows where CareSuper s Managed and Asset Class investment options sit on the risk vs return scale, taking into account each option s benchmark asset allocation. It is an indicative example only and assumes an investment period of at least five years. Risk vs return^ High Potential return Overseas Shares Growth Alternative Growth Direct Property Balanced Sustainable Balanced Conservative Balanced Capital Stable Australian Shares Investing with CareSuper Fixed Interest Capital Guaranteed Capital Secure Managed options Asset Class options Low Risk High ^ The Direct Investment option is not shown in this graph, due to the range of investments members can select within this option. Each member s Direct Investment option account will have its own unique risk vs return profile, based on the investments selected by the member. 5

Investing with CareSuper (continued) Minimum balance for investment choice CareSuper members automatically qualify for member investment choice on joining and you do not need a minimum account balance, except in relation to the Direct Investment option. See page 17 for the investment limits that apply to the Direct Investment option. Units and unit prices CareSuper uses unit prices to calculate and report on our members superannuation balances, in relation to investments in a Managed option or Asset Class option. Every CareSuper member s account balance information includes the number of units they hold, as well as the latest sell price. Each Managed or Asset Class option has two prices: a buy price and a sell price. A buy price is the price applied when you invest in an investment option. For example, when your employer makes a contribution to your account you will be allocated units at the buy price. In most cases, the sell price is the price applied when money is withdrawn from an investment option, including withdrawals from your account for investment switches and payments, fee deduction, insurance premiums and tax deducted directly from your account. The sell price is used to calculate your account balance. To find out additional details about how unit prices are calculated and buy sell spreads, please see pages 27 and 28. Cost of investing Go to caresuper.com.au/pds and read Fees and other costs for the fees and costs for managing your investment. Switching between Managed and Asset Class investment options Changing the way your super is invested is called switching. Usually you can switch between Managed and Asset Class options as often as weekly. If you make an investment choice and switch all or part of your super to a different investment option(s), the benefits, features and services available through your CareSuper account do not change. For example, you have access to the same insurance cover regardless of your investment choice. Before you make an investment choice, please be aware that CareSuper s legal obligations regarding the management of our MySuper (Balanced) option are different to those for our other investment options. The superannuation laws specific to this option are intended to ensure the Trustee has a greater responsibility for members who do not make an investment choice. When you change investment options, you may be charged different fees or costs. To find out more about the fees and costs that apply to CareSuper s investment options, please read the PDS available from caresuper.com.au/pds. Buy sell spreads may apply to switches. For more information about buy sell spreads, continue reading this guide, and refer to Fees and other costs available at caresuper.com.au/pds. 6

Switches can usually be made for: Your existing account balance Your future contributions and rollovers. If your switch request is received before 5pm (AEST) Friday for written requests or before midnight Friday (AEST) for online requests, it will usually be processed on the following Wednesday. Switches will be processed using the most recent price available as at the date of processing. You can access the most recent unit prices from caresuper.com.au. To make a switch, complete the Investment choice form, or log on to MemberOnline via caresuper.com.au. You can download a copy of the Investment choice form from caresuper.com.au or request one by calling the CareSuperLine on 1300 360 149. Switching into, out of and within the Direct Investment option Investment switches into, out of and within the Direct Investment option occur differently to switches between Managed options and/or Asset Class options. If you switch out of investments in the Direct Investment option to invest into a Managed or Asset Class investment option, buy costs may apply. If you take money out a Managed or Asset Class investment option to invest via the Direct Investment option, sell costs may apply. To find out more about trading securities, investing in term deposits, and the timing and fees which may relate to these transactions, please read the information on pages 16 to 25. Management of investments JANA Investment Advisers Pty Ltd is CareSuper s asset consultant. JANA provides research and recommendations on how and where to invest CareSuper s assets to meet the objectives of the investment options. This includes advice and analysis on: Financial markets and trends Asset allocation Investment manager selection CareSuper has appointed professional investment managers to manage the assets of the Fund. With JANA s assistance, the Trustee monitors and reviews the performance of each investment manager on a regular basis, adding or removing managers from time to time as appropriate. To view a current list of our investment managers, please visit caresuper.com.au. we appoint professional investment managers to manage the assets of the Fund 7

Sustainable investing Sustainable investing refers to the incorporation of non-financial risks, threats and opportunities into investment decision-making and ownership practices. CareSuper refers to these as environmental (including climate change), social and governance (ESG) factors. Why ESG is important to us CareSuper integrates the consideration of ESG factors into our investment decision-making and ownership practices with the belief that managing these risks will improve long-term returns to members. ESG factors may only become significant risks over the long term and since CareSuper invests with longer term performance objectives, integrating ESG analysis into an investment process is consistent with this objective. Research shows that there is a link between companies that follow good governance and share price performance. By encouraging responsible corporate behaviour, CareSuper expects to protect and enhance the value of the Fund s investments. How we apply ESG principles CareSuper uses the Australian Council of Superannuation Investors (ACSI) Governance Guidelines to guide our decision making on ESG issues. ACSI s guidelines provide CareSuper with a framework to consider and manage these non-financial risks, which are applied to investment decisions in a number of ways, including: Seeking appropriate disclosure on ESG issues from our investment managers Regularly monitoring how our investment managers are incorporating ESG factors into their investment decision-making process Being active owners of equities by voting on all stocks held within our Australian equities portfolio where possible, and encouraging all our investment managers to exercise their voting rights. Members can view our voting reports and find out how we exercise our voting rights at caresuper.com.au. Regularly discussing issues relating to sustainable investing at Board level, and Being active in public policy and working with other investors to enhance our effectiveness in implementing ESG issues within the general investment framework. Due to the specific nature of ESG risks for each asset class, applicability of these risks into investment decisionmaking and ownership practices varies across asset classes. CareSuper s obligations as a signatory to the Principles for Responsible Investment The Principles for Responsible Investment (PRI) initiative is a network of international investors, including CareSuper, who work together to put the six Principles for Responsible Investment into practice. The PRI reflect the view that ESG issues can affect the performance of investment portfolios and that these issues should be given appropriate consideration by investors. The PRI are a voluntary framework which allow CareSuper to incorporate ESG issues into our decision-making and ownership practices, so we can align our investment objectives with those of society in general. As a signatory to the PRI, we are required to complete an annual Reporting & Assessment survey, disclosing the activities and progress we have made towards implementing the Principles each year. To find out more about the ESG factors applicable to a particular investment option, visit caresuper.com.au. 8

Investment options at a glance When it comes to investing, CareSuper gives you lots of flexibility. Managed options Risk level* Likelihood of negative annual return Minimum suggested time frame Capital Guaranteed Very low Nil in every 20 years Short (1 2 years) Capital Stable Low to medium 1.5 in every 20 years Short to medium (3+ years) Conservative Balanced Medium 2.7 in every 20 years Medium to long (3 5 years) Balanced (MySuper) (default) Medium to high 3.6 in every 20 years Long (5+ years) Sustainable Balanced Medium to high 3.6 in every 20 years Long (5+ years) Alternative Growth Medium to high 3.3 in every 20 years Very long (7 10 years) Growth High 4.3 in every 20 years Very long (7 10 years) Asset Class options Risk level* Likelihood of negative annual return Minimum suggested time frame Capital Secure Very low Nil in every 20 years Very short (1 year or less) Fixed Interest Low 0.4 in every 20 years Short to medium (3+ years) Direct Property Medium to high 3.7 in every 20 years Long (5+ years) Australian Shares Very high 6.1 in every 20 years Very long (7 10 years) Investment options at a glance Overseas Shares High 5.6 in every 20 years Very long (7 10 years) Direct Investment option Read the information on pages 16 to 25 to find out more about this investment option. * The risk level information is based on the Standard Risk Measure. Please see page 3 for more information. 9

CareSuper s Managed options Investment objectives The CareSuper Trustee decides its investment objectives with professional advice from CareSuper s asset consultant, JANA Investment Advisers Pty Ltd. The consultant s research takes into account the long-term historical returns from the different asset classes in which the options invest, as well as economic forecasts and financial modelling from a variety of Australian and international sources. Investment strategies, including the determination of the proportions of each asset class that make up the Managed options, and the underlying strategies within each asset class, are developed to create the greatest probability of attaining the outlined objective of the investment options. These are amended from time to time to reflect changing circumstances in different markets. example The Standard Risk Measure indicators on pages 10 to 15 grade investment options across seven risk bands from very low risk (Band 1) to very high risk (Band 7), based on how many negative annual returns are expected for each option over a 20-year period. Risk label We determine the objectives for our investment options based on a range of information, including long-term historical and expected future returns for different asset classes, advice from our independent asset consultant and financial modelling from a variety of Australian and international sources. An investment objective is not a return forecast and does not predict what members returns may be over a specific period of time. An investment objective provides a broad indication of the level of return an option targets in the long term or over full market cycles. However, past performance is not a reliable indicator of future performance and you should consider other factors before choosing a fund or changing your investments. Risk band 1 2 3 4 5 6 7 very low low low to medium medium medium to high high very high Capital Guaranteed Most suitable for Overview Objectives Asset Classes Members seeking to maintain the capital value of their investment over any time period while earning a rate of return similar to that of bank bills or from a cash management trust. This option aims to ensure the security of capital. Special note: It is the Trustee s intention that this option will be invested in the AMP Capital Guaranteed Savings Account, managed by AMP Life Limited (AMP). AMP guarantees that capital and credited accrued interest will not be reduced by negative investment returns. The asset allocation is determined by AMP. From time to time, funds may be invested in the term deposits of Authorised Deposit Taking Institutions. For liquidity purposes, the Trustee may hold a small allocation in cash. To achieve returns after tax and fees that exceed the inflation rate (as measured by the Consumer Price Index [CPI]) by at least 0.5% per year over rolling 10-year periods. To provide a full guarantee on capital and credited accrued interest. To provide smooth returns which iron out market fluctuations and are never negative. Benchmark % Range % Fixed interest 22 0 50 Cash 78 50 100 Likelihood of a negative annual return in every 20 years Nil in every 20 years Risk level Very low Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high Minimum suggested timeframe Short term (1 2 years) 10

Capital Stable Most suitable for Overview Objectives Asset Classes Members seeking long-term capital security, while earning a rate of return above that of bank bills or from a cash management trust. This option aims to provide stability of capital over the medium term combined with the opportunity for limited capital growth. It invests in a diversified mixture of assets with an emphasis on fixed interest and cash assets. To achieve returns after tax and fees that exceed the inflation rate (as measured by the CPI) by at least 2% per year over rolling 10-year periods. To ensure as far as possible that the investment return members receive each year is competitive with comparable options in other super funds. Benchmark % Range % Australian shares 10 0 25 Overseas shares 13 0 25 Property 6 0 15 Alternatives 25 0 35 Fixed interest 16 0 50 Cash 30 10 70 Likelihood of a negative annual return 1.5 in every 20 years Risk level Low to medium Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high Minimum suggested timeframe Short to medium term (3+ years) Conservative Balanced Most suitable for Overview Objectives Asset Classes Members seeking returns above the rate of inflation over the long term, but with a more stable pattern of returns than might be experienced by the Balanced option. This option aims to achieve a balance of risk and return by investing in a blend of assets with an emphasis on fixed interest, cash and shares (Australian and overseas). To achieve returns after tax and fees that exceed the inflation rate (as measured by the CPI) by at least 2.5% per year over rolling 10-year periods. To ensure as far as possible that the investment return members receive each year is competitive with comparable options in other super funds. Benchmark % Range % Australian shares 16 5 30 Overseas shares 20 5 30 Property 7 0 15 Alternatives 27 0 45 Fixed interest 10 0 50 Cash 20 10 60 Managed options Likelihood of a negative annual return 2.7 in every 20 years Risk level Medium Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high Minimum suggested timeframe Medium to long term (3 5 years) 11

Balanced (MySuper) (default) Most suitable for Members seeking returns above the rate of inflation over the long term. This option has relatively high levels of investment in shares, property and alternatives. Overview This option aims to achieve relatively high returns in the medium to long term, subject to short-term variations in returns within acceptable limits. It invests in a diversified mixture of assets with emphasis on Australian and overseas shares and alternatives. Objectives Asset Classes Likelihood of a negative annual return To achieve returns after tax and fees that exceed the inflation rate (as measured by the CPI) by at least 3% per year over rolling 10-year periods. To ensure as far as possible that the investment return members receive each year is competitive with comparable options in other super funds. 3.6 in every 20 years Benchmark % Range % Australian shares 21 10 40 Overseas shares 26 10 40 Property 12 0 25 Alternatives 30 0 55 Fixed interest 6 5 35 Cash 5 0 30 Risk level Medium to high Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high Minimum suggested timeframe Long term (5+ years) Sustainable Balanced Most suitable for Overview Objectives Asset Classes Members seeking returns above the rate of inflation over the long term. The Australian and Overseas Shares components of this option favour industries and companies that are considered to have a sustainable future on environmental and/or social grounds. It has relatively high levels of investment in shares, property and alternatives. This option aims to achieve relatively high returns in the medium to long term, subject to containing short-term variations in returns within acceptable limits, while investing in industries and companies that are considered to have a sustainable future on environmental and/or social grounds. Refer to page 8 for more information. It invests in a diversified mixture of assets with emphasis on Australian and overseas shares, and alternatives. To achieve returns after tax and fees that exceed the inflation rate (as measured by the CPI) by at least 3% per year over rolling 10-year periods. Within the Australian and overseas shares asset classes, to favour industries and companies that are expected to achieve sound investment returns, maintain good social and/or environmental records and have a sustainable future. Benchmark % Range % Australian shares 21 10 40 Overseas shares 26 10 40 Property 12 0 25 Alternatives 30 0 55 Fixed interest 6 5 35 Cash 5 0 30 Likelihood of a negative annual return 3.6 in every 20 years Risk level Medium to high Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high 12 Minimum suggested timeframe Long term (5+ years)

Alternative Growth Most suitable for Overview Objectives Asset Classes Members with an investment timeframe of at least 7 years or someone whose financial situation allows a higher degree of risk. It is most suitable for those with a strong understanding of alternative investments and who seek to invest in these types of strategies. This option aims to achieve long-term capital growth by investing in a diversified mixture of assets with emphasis on alternative asset classes as well as Australian and overseas shares. It aims to deliver a more stable pattern of returns than would be expected in the Growth option by investing a significant component of the portfolio in alternative investments. To achieve returns after tax and fees that exceed the inflation rate (as measured by the CPI) by at least 3.5% per year over rolling 10-year periods. To produce a less volatile return profile than the Growth option by investing a significant component of the portfolio in alternative investments. Benchmark % Range % Australian shares 19 10 40 Overseas shares 24 10 40 Property 12 0 25 Alternatives 44 10 85 Cash 1 0 20 Likelihood of a negative annual return 3.3 in every 20 years Risk level Medium to high Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high Minimum suggested timeframe Very long term (7 10 years) Growth Most suitable for Members with an investment timeframe of at least 7 years or someone whose financial situation allows a higher degree of risk. Overview Objectives Asset Classes This option aims to achieve long-term capital growth by investing predominantly in shares, property and alternatives with an emphasis on Australian and overseas shares. The performance of this option may display a significant level of volatility and has a relatively high risk of capital loss over the short or medium term. To achieve returns after tax and fees that exceed the inflation rate (as measured by the CPI) by at least 4% per year over rolling 10-year periods. To ensure as far as possible that the investment return members receive each year is competitive with comparable options in other super funds. Benchmark % Range % Australian shares 27 15 50 Overseas shares 35 15 50 Property 12 0 25 Alternatives 25 0 70 Cash 1 0 20 Managed options Likelihood of a negative annual return 4.3 in every 20 years Risk level High Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high Minimum suggested timeframe Very long term (7 10 years) 13

CareSuper s Asset Class options Capital Secure Most suitable for Overview Objectives Asset Classes Likelihood of a negative annual return in every 20 years Risk level Members seeking to maintain the capital value of their investment over any time period while earning a rate of return similar to that of bank bills or from a cash management trust. Invests in a mix of short-dated and floating rate securities issued by Australian and overseas governments, banks, and companies. The portfolios include bank bills, commercial paper and other discount securities, asset-backed securities and bank-term deposits. To outperform the return of the Australian cash market (as measured by the UBS Bank Bill Index). To achieve returns after tax and fees at least in line with the inflation rate (as measured by the CPI) over rolling 10-year periods. 100% cash or short-term money market instruments Nil in every 20 years Very low Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high Minimum suggested timeframe Very short term (1 year or less) Fixed Interest Most suitable for Overview Objectives Asset Classes Members seeking long-term capital security, while earning a rate of return above that of bank bills or from a cash management trust. Invests in a diversified portfolio of debt securities, mainly fixed-rate bonds issued by Australian and overseas governments and companies, mortgage-backed securities and cash. The investment managers include specialist credit managers and other managers mainly focused on managing sector and interest rate exposures. To outperform the return of a mix of the Australian and overseas bond markets (as measured by a benchmark consisting of the Bloomberg AusBond Composite Bond Index and the Barclays Capital Global Aggregate Index [hedged]). To achieve returns after tax and fees that exceed the inflation rate (as measured by the CPI) by at least 0.5% per year over rolling 10-year periods. Benchmark % Range % Fixed interest 65 50 100 Cash 35 0 50 Likelihood of a negative annual return 0.4 in every 20 years Risk level Low Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high 14 Minimum suggested timeframe Short to medium term (3+ years)

Direct Property Overview Objectives Asset Classes* Likelihood of a negative annual return Risk level Minimum suggested timeframe Most suitable for Holds units in portfolios focused on core, high quality properties, mainly CBD office buildings and large shopping centres. Returns may come from both rental income and capital growth, including some refurbishment and development activity. To outperform the return of the Australian direct property market (as measured by the Mercer Australian Unlisted Property Index [pre-tax]). To achieve returns after tax and fees that exceed the inflation rate (as measured by the CPI) by at least 3% per year over rolling 10-year periods. 100% direct property 3.7 in every 20 years Medium to high Long term (5+years) Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high Members with an investment timeframe of at least 5 years or someone whose financial situation allows a higher degree of risk. This option may be suitable for those seeking a higher degree of flexibility and more control over their investments. Australian Shares Overview Objectives Asset Classes* Likelihood of a negative annual return Risk level Invests mainly in the shares of Australian companies listed on the stock exchange and is therefore a more concentrated portfolio than the Overseas Shares option. A number of investment managers are appointed to provide a diversified portfolio by investment style. To outperform the return of the Australian share market (as measured by the S&P/ASX 300 Accumulation Index). To achieve returns after tax and fees that exceed the inflation rate (as measured by the CPI) by at least 4% per year over rolling 10-year periods. 100% Australian shares 6.1 in every 20 years Very high Risk band 1 2 3 4 5 6 7 Risk label very low low low to medium medium medium to high high very high Minimum suggested timeframe Very long term (7 10 years) Most suitable for Overseas Shares Overview Objectives Asset Classes* Likelihood of a negative annual return Risk level Members with an investment timeframe of at least 7 years or someone whose financial situation allows a higher degree of risk. This option may be suitable for those seeking a higher degree of flexibility and more control over their investments. Invests in shares listed on the stock exchanges around the world, including both developed and emerging markets. To achieve diversification, this option uses a group of managers with a wide range of investment approaches. To outperform the return of the overseas share market (as measured by the MSCI World ex-australia Index in $A). To achieve returns after tax and fees that exceed the inflation rate (as measured by the CPI) by at least 4% per year over rolling 10-year periods. 100% overseas shares 5.6 in every 20 years High Risk band 1 2 3 4 5 6 7 Asset Class options Risk label very low low low to medium medium medium to high high very high Minimum suggested timeframe Very long term (7 10 years) Most suitable for * For liquidity purposes, this option may hold up to 10% in cash. Members with an investment timeframe of at least seven years or someone whose financial situation allows a higher degree of risk. This option may be suitable for those seeking a higher degree of flexibility and more control over their investments. 15

CareSuper s Direct Investment option Direct Investment option Most suitable for Members who are comfortable taking an active role managing their super investment and have a good understanding of how stock markets work and are confident selecting their own investments from the range of investments available via this option. Overview This option allows members to invest part of their super in their choice of: The securities that form part of the S&P/ASX 300 Index A range of exchange-traded funds (ETFs) A range of listed investment companies (LICs) A range of term deposits Objectives To provide members with the choice and flexibility to manage part of their super Asset Classes* Members can select their own mix from: Cash (including term deposits) Australian shares To learn more about these investments please read pages 16 to 25 of this Guide. Likelihood of a negative The likelihood of a negative return will vary depending on each member s allocation to securities annual return and term deposits and the performance of the investments selected by individual members. Risk level The risk level will depend on the mix of investments selected by individual members. The risk levels that generally apply to the investments in the Direct Investment option are: Term deposits: very low risk^ The securities that form part of the S&P/ASX 300 Index: very high risk ETFs and LICs: very high risk Minimum suggested The minimum suggested timeframe will depend on the investments selected by individual timeframe members. The minimum suggested timeframes that generally apply to the investments in the Direct Investment option are: For term deposits: very short term (1 year or less) For S&P/ASX 300 Index-listed securities: very long term (7 to 10 years) For ETFs and LICs: very long term (7 to 10 years) * You must maintain a minimum balance of $500 in your Direct Investment option cash account, plus enough money to cover the acquisition of any new investments, and any related fees and taxes. Further information about your cash account is provided on page 25. ETFs and LICs are listed on the ASX but may have exposure to foreign-listed securities, fixed interest securities and commodities. They may also hold short positions in securities. To find out more, please read the product disclosure statement or other disclosure document available from the website of the ETF or LIC issuer. ^ Breaking a term deposit prior to the agreed maturity is subject to the term deposit provider s Terms and Conditions and may require a notification period which, combined with processing times, may result in a significant time before you can access your funds, which has the potential to increase the liquidity risk of this type of investment. 16 About the Direct Investment option The Direct Investment option may be ideal for members looking to become more actively involved in managing their super. It offers members choice, flexibility and more control in how part of their super is invested. You can use the Direct Investment option s features, including access to: A wide range of available investments Sophisticated online access Up to date market information and company profiles, and The relevant dividends, interest, franking credits and capital gains or losses as determined in accordance with the Direct Investment option s terms and conditions to create a tailored investment solution that meets your individual investment profile. This tailored investment solution is referred to as your Direct Investment option account in this Guide. When you select the Direct Investment option, a cash account will be created, where transactions will be settled and any interest, dividends, distributions and tax liability paid. Direct Investment Online Access to the Direct Investment option is through Direct Investment Online a secure online portal which members use to: Check the value of their investments Transact in listed securities and term deposits Place buy and sell orders on market (during ASX trading hours) Access personalised trading information and trading history, and View detailed information about the share market as it is updated. Members of the Direct Investment option can access Direct Investment Online directly from MemberOnline. Provider The Direct Investment option is provided through Macquarie Investment Management Limited, ABN 66 002 867 003, AFSL 237492. Other than as expressly described in relation to the cash account and Macquarie Bank Term Deposits which are deposits with Macquarie Bank Limited ABN 46 008 583 542, neither Macquarie Bank Limited, Macquarie Investment Management Limited nor any member of the Macquarie Group (Macquarie)