PEPPER MONEY INVOLVED IN VICTORIAN GOVERNMENT’S COMMERCIAL AND INDUSTRIAL PROPERTY TAX REFORM TRANSITION LOAN PROGRAM

SYDNEY, 1 July 2024 -

Pepper Money Limited is proud to announce its involvement in the Commercial
and Industrial Property Tax (CIPT) Transition Loan Program in conjunction with Treasury Corporation of
Victoria (TCV).

Stamp duty will be progressively phased out on commercial and industrial properties from 1 July 2024, with
the CIPT to apply 10 years after the property is next sold.

As part of the CIPT reform purchasers will incur a one-time final stamp duty and eligible purchasers will
have the option to either use their own finances to pay the property’s final stamp duty or finance it through
a transition loan from TCV.

The transition loan will allow purchasers to make annual loan repayments over 10 years, equivalent to the
property’s final stamp duty liability plus interest allowing them to spread out payments over time with a fixed,
market-based interest rate, calculated at the start of the loan.

Detailed information on the transition loan including how to apply, loan terms and eligibility and can be
found on TCV’s website.

Pepper Money has been engaged by TCV to assist with the administration of this new Transition Loan
Program.

Mario Rehayem, CEO of Pepper Money said, “We are proud to be entrusted with such an integral role in
the administration of the new Commercial and Industrial Property Tax Reform Transition Loan Program.
Not only is this a promising policy for Victorian SMEs, but our involvement appropriately aligns with Pepper
Money's ongoing commitment towards helping people succeed.

“We are leveraging our expertise in credit and loan servicing, along with our in-house purpose-built
technology to implement the program. This will include loan establishment, credit assessment, settlement,
and ongoing servicing of the transition loans, as well as administration services for TCV.”

The provision of a frictionless customer experience during credit decisioning and settlement is a core value
proposition offered by Pepper Money. TCV transition loan applicants will have access to the end-to-end
digital application experience that can be executed at their convenience at any time of the day or night. This
technology will be integral to the TCV Transition Loan Program, leveraging Pepper Money’s experience in
both building and maintaining digital platforms.”

Approved applicants will be managed using Pepper Money’s purpose-built technology solutions and
experienced customer service teams. Pepper Money has extensive experience and sophisticated
capabilities in third party servicing with over 30 third party originators who use Pepper Money to facilitate
their branded loan portfolio.

Michael Larkin, CEO of TCV said, “We are very excited to be working with Pepper Money to deliver the
Transition Loan Program to help benefit Victorian businesses.”</