Notice of PDS Update: Regnan Credit Impact Trust

We have updated and reissued the Product Disclosure Statement (PDS) for the Regnan Credit Impact Trust (the Fund) effective on and from 26 September 2025.

The following is a summary of the key changes reflected in the PDS for the Fund.

Description of Fund

We have clarified that the Fund may hold a limited allocation to non-investment grade securities and securities that are not rated by external credit rating agencies.

The way the Fund is managed has not changed.

Labour, environmental, social and ethical (collectively, ESG) considerations

We have enhanced our ESG disclosure to provide further detail on the Fund’s sustainability assessment and impact processes.

Our sustainability assessment process seeks to identify issuers, that in our view, have strong sustainability credentials for investment and aims to avoid issuers that we consider to have poor sustainability outcomes. Our impact process ensures the Fund’s investments are in alignment with its impact goals.

Exclusionary Screens

We have clarified that the Fund’s exclusionary screens are applied to the Fund’s investments in credit securities.

The Fund’s exclusionary screens are not applied to government securities, semi-government securities, supranational securities, cash or derivatives. The use of derivatives may also result in the Fund having indirect exposure to issuers that would otherwise be excluded.

Updates to significant risks disclosure

The Fund’s investment strategy involves specific risks.

We have updated the significant risks disclosure applicable to the Fund to ensure that our disclosure continues to align with the nature and risk profile of the Fund and the current economic and operating environment.

Updates to ongoing annual fees and costs disclosure

The estimated ongoing annual fees and costs for the Fund have been updated to reflect financial year 2025 fees and costs. These include changes to estimated management costs and estimated transaction costs.

We now also disclose the maximum management fee we are entitled to charge under the Fund’s constitution.

Updates to restrictions on withdrawals

We have updated the disclosure on restrictions on withdrawals to align closer to what is in the Fund’s constitution.

Additional information on how to apply for direct investors

We have provided additional information for non-advised retail investors (retail investors without a financial adviser) investing directly in the Fund. Non-advised retail investors may also be required to complete a series of questions as part of their online Application, to assist us in understanding whether they are likely to be within the target market for the Fund.

Updates to our complaints handling process

We have provided additional details about our complaints handling process and the Australian Financial Complaints Authority.