Welcome to Expand

What is happening?

We’re transferring your account and investments to Expand.

Your new investment (IDPS) account will be updated with new features, benefits and reduced fee structure, and will transfer to a new platform.

Why is this happening?

We’re always looking for how to provide the most up-to-date product offerings, service and experiences. When MLC became part of the Insignia Financial Group in 2021, we had multiple similar products which needed consolidation to enable us to provide the best service and competitive fees for our clients. Following a review, it was determined that Expand is the most appropriate product to use going forward. Expand uses technology that we own and invest in so we can continually improve your experience.

Post the transfer, you’ll benefit from reduced fees, a wider range of investment options and a significantly improved online experience.

When is this happening?

Your current account will close on Friday 7 November 2025 and your new account will open on Saturday 8 November 2025. You’ll have access to your new account from Monday 10 November 2025. See the Communications section for more information about the communications you will receive.

What products are transferring to Expand?

• MLC MasterKey Investment Service
• MLC MasterKey Investment Service Fundamentals

What product is my account being transferred to?

The Expand Extra Investment Service

Will I receive a new account number?

Yes, after the transfer, you’ll receive an Expand welcome pack which will include your new account number and information on how to register for online access (this is optional). If you’ve elected to receive electronic communications, you will receive an email about registering for online access shortly after the transfer.

Your welcome pack will include:

• Your new BPAY® details for contributing to your new account
• Confirmation of any regular facilities that have carried over (such as ongoing deposits & withdrawals)
• Your Standing Investment Instructions which will apply going forward (such as how you would like your deposits to be invested, your income preferences and method used to top up your Cash Account)
• Confirmation of the fees and costs associated with your account

®Registered to BPAY Pty Ltd ABN 69 079 137 518

Will my fees change?

With this transfer, the majority of accounts will receive a reduction or no change to the cost of their administration fees.

As fees are specific to each account, you should refer to the letter called ‘Your account is moving to Expand’ which should arrive in early September 2025 (this is also available on MLC Investor Online in the Reports and Statements section). This letter outlines the fees that will apply to your Expand Extra Investment account.

Will there be an impact on my ability to transact on my account during the transfer period?

Yes, to ensure the successful transfer of your account, some transactions will be temporarily suspended. This flyer shows the last day we can accept your requests for certain transactions in the lead up to the transfer. We anticipate you, or your adviser, will be able to resume transacting on Expand from 10 November 2025.

Are there any capital gains tax implications due to the transfer?

No, due to the methods used to complete the transfers no capital gains tax will be realised on your investments. The transfer will be completed without selling any of your investments.

However, after the transfer of your account, we may be required to organise a sell down of some of your investments post migration, to top up the Expand Cash Account. This sell may give rise to a Capital Gains Tax liability.

Please speak with your financial adviser or tax agent for guidance.

How will my Expand Cash Account be topped up?

Your Expand Cash Account has been set to retain a minimum allocation of the lesser of 1% or $5000 to operate efficiently. We will review your Cash Account at the end of the month or after a regular withdrawal, and if the balance is zero or below, it will be ‘topped up’ by selling down your investments, in the following order:

• If you hold the MLC Cash fund, we’ll sell down this investment option first.
• If you do not have sufficient balance in the MLC Cash Fund, we’ll then sell down your investment options according to your fee draw down order.
• If you do not have a fee draw down order set up for your account, we will redeem your investments on a pro rata basis.

You can update your fee draw down order prior to the transfer by completing the MLC Switch and Investment Strategy form available here.

Sell downs triggered by a cash account top up may give rise to a CGT liability. Please speak to a financial adviser or tax adviser for more information.

Is there any change to the fees I pay to my adviser?

Your adviser service fee will continue after the transfer as per your agreement, unless you’ve been notified otherwise.

If your advice fee is a flat dollar-based fee, we will carry this over as a flat dollar-based fee into Expand Extra Investment. There will be no change to the actual fee deducted from your account for the remaining term. The main difference is that this fee will be deducted at the end of each month.

If you later choose to renew or if the fee is cancelled and replaced then any flat dollar-based advice fees will be calculated differently. For more information, please refer to the Investor Directed Portfolio Service (IDPS) Guide (offer document) available at myexpand.com.au

If your advice fee is a percentage-based fee, this will continue in Expand Extra Investment. You may also notice that the fee deduction will occur at the end of each month. Any ongoing or fixed term advice fee will be confirmed in your Expand welcome pack.

What will happen to my regular investments?

There is no change to regular investments which are debited monthly, quarterly or half yearly.

However, if you have a weekly or fortnightly frequency set, this will no longer continue from the 24 October 2025. You can update your deposit frequency before the transfer by contacting MLC on 13 26 52.

Alternatively, once your account has transferred you can set up or amend your regular deposit by completing the Expand Direct Debit Request form or by speaking with your adviser, after the 10 November 2025.

What will happen to my regular withdrawals?

There’ll be no change to regular withdrawal payment dates and no interruption to any scheduled payments because of the transfer.

To ensure there is no delay, any regular withdrawal payments due between 24 October and 10 November 2025 will be brought forward and we will trigger the regular withdrawal process on or around 24 October 2025. Please note that the usual timeframes will apply. Regular withdrawal payments due after 10 November 2025 will be paid from your Expand Cash Account.

What is the Expand Cash Account?

Your Cash Account for Expand Extra is used to process all cash transactions such as:

• receiving deposits
• buying or selling investments
• receiving income distributions and dividends
• deducting fees, charges, taxes
• paying withdrawals.

Your minimum percentage allocation to your Expand Extra Cash Account will be set to the lesser of 1% of your account balance or $5,000, which ensures that your account operates efficiently.

Your Cash Account preferences can be updated once your account has transferred to Expand.

What investment options will I have access to?

In your Expand Extra Investment account you will have access to:

• Over 500 managed investments.
• The majority of listed investments on the Australian Securities Exchange
• A Separately Managed Account (SMA) providing access to a range of SMA Model Portfolios*
• A selection of term deposits and fixed term annuities (maturing investments).

For a list of investment options available within Expand Extra Investment, please refer to the Investment Menu. For more information and before making a decision to invest you should also read the Investment guide and Investment option PDS available at myexpand.com.au

*SMA’s are only available through a financial adviser.

Will I receive two tax statements for FY 2025/26?

Yes, you’ll receive an annual tax statement from your current MLC account for the part year and an annual tax statement from your Expand account for the remainder of the financial year. Both statements will be issued in around September/October 2026. These statements will outline your taxable income received in each product during the financial year to help you complete your tax return.

After 2-4 weeks of receiving your MLC and Expand tax statements, the relevant tax information should be pre-filled when you log into the ATO to complete your tax return, making it easier for you to complete.

Will my existing margin lending be transferred?

Yes, if you have margin lending within your account, it will continue in your Expand account.

If you have a NAB margin loan on your account, there’ll be some changes to how it works with the transfer to Expand. The margin loan balance will not appear on your Expand statement.

How do I access Expand Online and/or the Expand mobile app?

It’s easy to register for Expand Online and the Expand mobile app to access your Expand Extra Investment account. You’ll receive details about Expand Online and the Expand mobile app registration in your welcome pack or you can download the ‘Get Online’ flyer here. Online access to your new account will be available from 10 November 2025.

Will I need a new username and password?

Yes, you’ll need to register for Expand Online and/or the Expand mobile app and this will require a new username (your email address) and password. You only need to register once, this login will be used for both the website and the app. If you have more than one account, you’ll be able to access them through the same login.

Can I still log in to MLC Investor Online?

If you currently have MLC Investor Online access for your existing account, this will remain available for a period of 12 months following the transfer. Your Expand Online login will provide access to the past seven years of statements for your reference. This will reduce the need for you to log in to MLC Investor Online after the move.

Any current online access number you have will not transfer to Expand Online, you’ll need to register with your new Expand account number.