AGM- The top 5 Questions AnsweredQ1: Why is aaig not being...

AGM- The top 5 Questions AnsweredQ1: Why is aaig not being listed on the ASX and will this happen in the future?While the potential IPO of aaig was considered, the Directors determined that a standalone IPO of HALO presents a betteralternative to maximise value capture for aaig shareholders.The current environment is such that the listing of a profitable, fast growing, FinTech business (such as HALO) is achievableat a premium valuation multiple.It is possible that aaig could be listed in the future, but only if it represents the best value outcome for shareholders. If asuperior option emerges, such as the spin-out of a subsidiary in the present listing of HALO, then we will pursue that.The IPO of HALO Technologies is consistent with aaig's long-standing strategy as a creator and incubator of financialproducts and technology.It is important to understand that aaig is a private equity firm. Our business model is based on creating value forshareholders through the acquisition, improvement and eventual sale of businesses.aaig's approach is designed for flexibility to allow the business to evolve over time and for agility to seize value captureopportunities as they arise. This strategy has been successfully in place for over a decade and there is no intention to move.

2. Will the Deep Poll apply to the IPO of HALO Technologies?The Deed Poll continues to be applicable to the value of aaig shares in the event that aaig undertakes an IPO in the future.However, it is not applicable to the listing of HALO Technologies on ASX.

Q3: How will aaig shareholders benefit from the IPO of HALO Technologies?aaig shareholders will receive an allocation of HALO shares based on the number of aaig shares they own, according to aspecified conversion ratio. This ratio is a function of the transfer of value from aaig shares to the allocation of HALO shares,and the value of HALO at IPO.At the date of the HALO IPO there will be no change to the aggregate value of an aaig shareholder's holding. There willmerely be a transfer of value from aaig shares to the fresh allocation of HALO shares, according to the conversion ratio.Post-IPO, aaig shareholders will have the added benefit of a significant liquidity event created by receiving shares in an ASXlisted stock for which there is a ready liquid market. Accordingly, an aaig shareholder is exchanging some of the value of anaaig share for a more liquid and higher rated HALO share.In addition, aaig shareholders retain value in their shares through aaig's continued holding in HALO and through theremaining portfolio of investments held within aaig, comprising a range of successful businesses.

Q4: How does the conversion ratio for HALO shares work andwhy was this method chosen?The current value of aaig is presently around $105.2 million with 389,700,602 shares on issue at $0.27 per share.Our current estimate is that HALO is likely to list with a pre-money market capitalization (i.e., before additional funds raisedfrom investors in the IPO) of around $125 million.For illustration purposes, we have used the figure of $125 million in the following worked example.aaig intends to distribute 80% of aaig's holding in HALO of this value while retaining 20% of its pre-IPO holding as anongoing interest in HALO.The value of each aaig share ($0.27) attributable to HALO is 9.3 cents.80% of this (7.45 cents) would be converted into allocations of HALO shares for aaig shareholders.The value of aaig shares would be reduced by the same amount to $0.196.A conversion ratio applies, such that an aaig shareholder would receive 1 HALO share for every 16.13 aaig shares held.At the date of the HALO IPO there will be no change to the aggregate value of an aaig shareholder's holding. There wouldmerely be a transfer of value from aaig shares to the fresh allocation of HALO shares, according to a specified conversion ratio.

Q5: What is the future for aaig now that a key part of the businessis being spun off?aaig continues to be a vibrant and growing business with a suite of successful companies, brands and products.This includes ASR, ASR Wealth Advisers, APSEC Funds Management, AllG and Ascot Securities.In addition to being a provider of financial services products and a private equity investor, we continue to view ourselves asa research and development company. This means maintaining our focus on investment in financial technology, and onbuilding scale prudently by bolting on complementary businesses in a value accretive manner.The Board of aaig will continue to pursue ways of growing value for aaig shareholders, by assessing potential newinvestments and exploring future trade sales and/or IPO opportunities for assets currently in its portfolio.