RetireInvest Opening Address

1. RetireInvest Opening Address Paul Campbell, CEO RetireInvest

2. Page 1 Agenda Where are we now? The way forward

3. Where are we now?

4. Page 3 Economic outlook & implications 2008 Expenses with a 2005 Revenue Stream! Cashflow Profitability Managing debt obligations Pressure to let staff go Business valuations Limited access to capital Difficulty in writing new business Diversification of income streams Managing clients expectations

5. Page 4 Industry issues & implications Continued market volatility Challenges to �Value of advice� Nick Sherry, Storm, Industry funds etc Changes in the Superannuation sector Fees on SGC, fees vs commission, margin squeeze etc Financial security & viability ING backing is an advantage

6. Page 5 Opportunities �Optimism is an intellectual choice � easy to be cynical, harder to be positive� Don Connelly Clients with higher disposable incomes Propensity towards cash � be prepared when markets recover Looking for alternatives � want product innovation Reposition the value of advice Acquisition - distressed assets Business efficiencies / technology

7. Page 6 OK � looking at the team, we�ve got me (CLICK MOUSE) and then we�ve got the Marketing Segment Manager (CLICK MOUSE TWICE) Rose Princi is the Segment Manager, responsible for development and delivery of all campaign materials, including Alliance support, and leveraging our fund manager partners for all campaigns Brand & Campaign Specialist � Chris is responsible for implementation and delivery of all of our campaign activities, including national seminar campaign, alliance tools, Dealer Services Marketing Coordinator � that�s Lonnie, he looks after all the office marketing requests, including personalised stationery and brand guidelines etc. He also be manages merchandise and the online ordering system. So that�s the team � hopefully it�s a bit clearer now who does what and who we all are. OK � looking at the team, we�ve got me (CLICK MOUSE) and then we�ve got the Marketing Segment Manager (CLICK MOUSE TWICE) Rose Princi is the Segment Manager, responsible for development and delivery of all campaign materials, including Alliance support, and leveraging our fund manager partners for all campaigns Brand & Campaign Specialist � Chris is responsible for implementation and delivery of all of our campaign activities, including national seminar campaign, alliance tools, Dealer Services Marketing Coordinator � that�s Lonnie, he looks after all the office marketing requests, including personalised stationery and brand guidelines etc. He also be manages merchandise and the online ordering system. So that�s the team � hopefully it�s a bit clearer now who does what and who we all are.

8. Page 7 Key Strategic Initiatives 2009

9. Page 8 2009 Business Plan Update MDA / efficient portfolio management LTI Research Xplan SOA �Incorp by reference� ? Risk workshop/education ? Estate Planning ? Alliances � Corp Super RI Advice KYIT?

10. Page 9 2009 � how we are tracking at the end of Feb Implications Next Conference destination under review � announcement shortly Defensive strategies - cost review Offensive strategies � focus on growth / recruitment

11. The Way Forward

12. Page 11 Where we want to be as a Licensee RetireInvest to be regarded as the Licensee of Choice for high quality advisers, looking to achieve financial success and well being for their clients and themselves As a Licensee we will Have strong trusted relationships with our peers and clients Provide highly valued people, products & services Assist our proprietors to manage the challenges of running a small business Support you through the growth of your business

13. Page 12 The Way Forward First priority is to re-establish trust and a strong relationship Key component of this will be confidence in our ability to deliver on our promises First priority is you! Second priority to grow & recruit Both issues require us to provide a compelling offer...

14. Page 13 Creating a compelling offer

15. Page 14

16. Page 15 Creating a compelling offer � initial feedback

17. Page 16 100 Day Plan � Key Objectives Reshape the business to prepare for growth Review and enhance our offer Align the interests of all stakeholders

18. Page 17 Key deliverables Advice enablers: Research Risk Advice process Technical Growth / business enablers: M&A / Succession LTI / Territories Technology Licensee enablers Operational capability Customer service focus Scale for growth Organisational structure

19. Page 18 The Way Forward � process

20. Page 19 100 Day Plan � 3 phases

21. Page 20 Key deliverables - update Research Appointment of in-house Research team (Mid April-TBC) Advice Appointment of Head of Advice role (Immediate) Technology Appointment XPLAN Technology consultant (Immediate, contract) Mergers & Acquisition Appointment of M&A Specialist (Immediate, contract)

22. Page 21 We are making progress

23. Page 22 In Closing Absolute commitment to the success of RI Full support for RI to operate as its own business Budget to realistically achieve change Exciting future Will take time First priority is re-building the relationship Key to that will be delivering A number of complex issues to be dealt with 6-12 months to fully realise the benefits It will be worth waiting for

24. Thank You