BSC limited secures long-term financing relationship with Direct Capital

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BSC Limited, the parent company of Complectus Limited, confirms that it has entered into a re
financing agreement and long-term partnership with local private equity firm Direct Capital.  Direct
Capital will have an option to convert the loan for 50% of the shares in Complectus at a point in the
future.

The partnership positions the company for growth and expansion in a sector that is adapting to rapid
change in the management of trusts and estates for families, and increasing compliance and
fiduciary supervision in the corporate trust sector, for which Complectus (which comprises Perpetual
Guardian, Guardian Trust, Covenant and New Zealand Trustee Services) is the market leader.

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