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In the latest episode of our What Matters podcast, David Moberley, Managing Director in our Asset Management division, explores the rapidly evolving economics of AI compute and the next phase of the AI investment cycle. Drawing on his experience investing in high-growth technology businesses, David examines the enormous capital requirements behind the AI build-out and the forces shaping future demand for compute. Highlights include: • Why capital could emerge as the next major bottleneck as investment in AI infrastructure accelerates towards unprecedented levels. • How AI infrastructure financing is evolving, including Nvidia’s emerging role in helping unlock capital for the expanding NeoCloud sector. • Why falling token costs could drive greater AI consumption, and how AI agents, which can consume multiples more compute than simple chatbot interactions, could accelerate demand further. • Whether the significant capital flowing into AI is beginning to generate returns. David also shares some of the indicators he’s currently keeping an eye on to assess the sector’s future economics. This information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information contained does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. © All rights reserved 2026. See omnystudio.com/listener for privacy information.

In the latest episode of our What Matters podcast, our Joint CEO Julian Biggins is joined by Russell Grady, CEO of FDC Construction and Fitout. Russell joined FDC as a cadet in his early twenties and recently led the business through its billion-dollar ASX listing, the largest listing on the ASX so far this year. Highlights from their conversation include: What it takes to build and scale a successful business while preserving culture and managing risk. Why FDC’s approach to pricing starts with knowing how to pull a project apart and put it back together again, understanding the fine detail to price every element accurately. Russell’s perspective on the opportunities and risks emerging from Australia’s rapidly growing data centre sector. Why disciplined project selection, strong relationships and a focus on people remain fundamental to FDC’s success. FDC and MA Financial share a longstanding relationship that began more than 10 years ago and has continued through several significant milestones. These include FDC’s fit out of our Sydney headquarters and our Corporate Advisory division, MA Moelis Australia, recently acting as Joint Lead Manager and Underwriter on FDC’s IPO on the ASX. DISCLAIMER This information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information contained does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. © All rights reserved 2026. See omnystudio.com/listener for privacy information.

In this episode, MA Financial's Group Vice Chairman Andrew Pridham AO is joined by MA Financial's Head of Global Credit Solutions, Frank Danieli. The discussion centres on Frank's latest Global Credit Solutions investor letter, The Beautiful Game: Why process matters more than individual talent, which explores why the strongest teams don't succeed because of individual talent alone – but rather through structure, depth and consistent execution – and why this same principle applies to private credit investing. In this quarter's letter, Frank explains why successful investment outcomes in credit aren’t driven by star loan pickers identifying winners, but by the discipline and consistency of the investment process. From rigorous underwriting and thoughtful structuring to portfolio construction, ongoing monitoring and disciplined risk management, he outlines why a repeatable process underpins capital preservation and consistent income across market cycles. DISCLAIMER The information in this podcast is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information contained does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. Equity Trustees Limited (ABN 46 004 031 298) (AFSL 240975) is the responsible entity for the MA Credit Income Trust ARSN 681 002 531 (MA1) and EQT Responsible Entity Services Pty Ltd (ABN 94 101 103 011) (AFSL 223271) is the responsible entity of the MA Credit Income Fund ARSN 683 242 659 (CIF). Equity Trustees Limited and EQT Responsible Entity Services Pty Ltd are subsidiaries of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT). MAAM RE Ltd (ACN 135 855 186) (AFSL 335783) is the responsible entity of the MA Priority Income Fund ARSN 648 809 849 (PIF). MA Credit Portfolio Holdings Limited ACN 691 943 638 is the issuer of the MA Credit Portfolio Notes (Notes). Before making any decision, you should read the disclosure document and TMD for PIF available at mafinancial.com/MA1, for CIF at mafinancial.com/invest/private-credit/ma-creditincome-fund and mafinancial.com/invest/private-credit for PIF, and mafinancial.com/invest/privatecredit/ma-credit-portfolio-notes for the Notes. An investment in MA1, CIF, PIF and the Notes involves risk. Past performance is not a reliable indicator of future performance. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. See omnystudio.com/listener for privacy information.

In this episode, MA Financial’s Group Vice Chairman Andrew Pridham AO is joined by Viola Private Wealth Executive Chair and Founding Partner Charlie Viola, and Good Housing incoming CEO Kristy Simmonds. They discuss today’s investment landscape as well as an increasingly important part of Australia’s social infrastructure – Specialist Disability Accommodation (SDA).  Charlie shares his views on global growth, portfolio construction and the recent Australian Federal Budget, including how high-net-worth investors are positioning themselves in response to proposed tax and wealth structuring changes. He also explains why he believes investors should continue to invest through the cycle and remain focused on long-term opportunities, while discussing the growing role of private market assets in diversified portfolios.  The conversation then turns to Specialist Disability Accommodation (SDA), an increasingly important social infrastructure and alternative real estate asset class, with Kristy Simmonds joining Charlie to explore how private capital, government support and specialist operators are partnering to help address a critical housing need, delivering both meaningful social outcomes and attractive investment returns.  As a Non-Executive Director of Autism Awareness Australia, Charlie also shares his personal connection to the sector and reflects on the importance of providing appropriate housing and support for people living with severe and permanent disabilities.  Highlights 3:40 – Charlie Viola’s outlook on global growth  4:20 – Charlie Viola: “The only way you’ll ever get wealthy is by continuing to invest”   4:40 – Andrew Pridham: “I never make decisions based on tax”  5:10 – How high-net-worth investors are responding to proposed Federal Budget changes  7:45 – Will advisers start unwinding family trusts?  13:30 – Charlie Viola’s views on allocating to private market assets  15:15 – Charlie Viola: “We’re a stay rich business, we’re not a get rich business.”  17:45 – What is Specialist Disability Accommodation (SDA)?  18:30 – The housing challenge SDA is designed to solve  19:40 – Kristy Simmonds: “People regardless of whether they have a disability or not want to choose where they live”  21:00 – Why institutional-quality capital is needed to meet growing SDA demand  22:20 – How Good Housing was founded  24:00 – Kristy Simmonds: “It does take true partnership”   25:35 – Why some SDA housing is being built in the wrong locations   26:30 – What makes Good Housing different?   28:20 – Regulatory risk: Why government has an incentive to support SDA  29:40 – Charlie Viola on the bipartisan support underpinning SDA  36:00 – Why location matters in SDA This information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information contained does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. © All rights reserved 2026. See omnystudio.com/listener for privacy information.

In this episode of What Matters, MA Financial’s Group Vice Chairman Andrew Pridham AO speaks with Koda Capital’s Founding Partner and CEO Paul Heath. After leading one of Australia’s most established wealth management businesses, Paul took a leap in 2013 to co-found Koda Capital, driven by a conviction that clients wanted truly independent, conflict-free advice. Paul also recognised a growing opportunity to give clients access to private market opportunities that had traditionally been reserved for large institutional and sovereign wealth investors. Paul reflects on the risks and lessons of building a business from scratch, and how wealth management is changing as private markets, AI and intergenerational wealth transfer reshape the industry. Paul also explains “The Koda Way” and the importance of culture in building a successful business. These attributes include fostering a conflict-free environment where advisers are empowered to act in their clients’ best interests, aligning advisers through meaningful equity ownership to create an ownership mindset, and creating a culture that guides behaviour when no one is watching. This information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information contained does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. © All rights reserved 2026. See omnystudio.com/listener for privacy information.

In today’s uncertain and more volatile environment, investors and advisers are reassessing risk and seeking greater clarity on what lies ahead for private credit portfolios. Understanding what you own, how it is structured, and how it performs under stress is increasingly important. In this episode, MA Financial Group Vice Chairman Andrew Pridham AO is joined by Drew Bowie (Head of Real Estate Credit), Frank Danieli (Head of Global Credit Solutions), and Ashees Jain (Managing Director and Portfolio Manager). Together they unpack the evolving private credit landscape – both locally and globally – and share how we assess risk, build resilience, and identify opportunity in today’s market. Highlights 1:25 Perspectives from on the ground in New York and why private credit is currently front of mind 4:50 Andrew Pridham on navigating uncertainty: “There has been a crisis of some type… on average every three years” 8:35 Andrew Pridham on the role of private market assets during periods of volatility: “Many of my best investment decisions have been to do nothing.” 11:00 Macro risks and how we think about preparing for the unexpected 17:40 Embedding contingencies into lending 22:30 Andrew Pridham on liquidity and private market assets 23:40 Why today’s market can be described as a “tale of two cities”, a deep dive on the comparison between the U.S. and Australian private credit 28:20 Current perspectives on the lending market environment and how they maybe becoming more favourable for private credit investors 33:05 Where we are seeing opportunity in private credit today 36:05 Key risks we’re focused on, including AI and technology, and the definition of a “prime borrower” 42:10 The importance of transparency, and why this scrutiny is healthy and necessary for the long-term credibility and sustainability of the asset class: “Our theme for this year is what’s under the hood?” 46:30 What matters most when choosing a private credit manager, including manager alignment, track record, and workouts capability The information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information contained does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. See omnystudio.com/listener for privacy information.

In this episode, MA Financial’s Group Vice Chairman Andrew Pridham AO is joined by Joint CEO Julian Biggins and Head of Core Real Estate Chris Lock to unpack what $1.2 billion in recent retail acquisitions reveals about the current market for retail shopping centres, and how real estate demonstrates its defensive characteristics in periods of heightened global volatility. Andrew, Julian and Chris share insights on: ·        Why shopping centres continue to demonstrate resilience and provide downside protection ·        How active management can enhance asset performance and drive investor returns ·        The outlook for office and industrial ·        Takeaways from MA’s 2026 Alternatives Summit, including why alternative real estate such as pubs and marinas provide defensive cash flow ·        How the current global crisis may present opportunities for astute investors Highlights 2:20 – What is ‘core real estate’? 6:20 – Inflation: Why retail assets can act as a natural hedge 7:30 – Barrier to entry: How the supply of new shopping centres could be decades away 9:30 – Why retailers are showing resilience in the current economic environment 10:30 – The impact of online shopping: How leading retailers are seeking additional retail space alongside online 15:50 – The resilience and downside protection offered by retail assets 25:50 – Chris and Julian on office and industrial 29:00 – MA Alternatives Summit 2026: Julian’s key takeaways 30:00 – Why active management is critical in delivering investor returns 31:00 – Andrew Pridham on seizing opportunity in global crisis and volatility 32:00 – Get to know Chris   The information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information contained does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial.   See omnystudio.com/listener for privacy information.

MA Financial’s Group Vice Chairman, Andrew Pridham AO, is joined by a team of MA’s investment professionals as they discuss insights from the recently-released 2026 Investment Outlook, examining opportunities ahead across private credit, real estate and equities. The wide-ranging conversation explores: Why shopping centres continue to present compelling opportunities, supported by resilient consumer trends and structural tailwinds The critical role of active management in unlocking value across real estate The advantages of senior secured positions within the real estate capital structure How investor psychology is amplifying equity market volatility The key themes shaping today’s private credit landscape. The information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information in the podcast does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. Equity Trustees Limited (Equity Trustees) (ABN 46 004 031 298) (AFSL 240975) is the responsible entity for the MA Credit Income Trust ARSN 681 002 531 (MA1). MAAM RE Ltd (MAAM RE) (ACN 135 855 186) (AFSL 335783) is the responsible entity of the MA Priority Income Fund ARSN 648 809 849 (PIF). MA Credit Portfolio Holdings Limited ACN 691 943 638 is the issuer (Issuer) of the MA Credit Portfolio Notes (ASX: MA2HA) (the Notes). You should obtain a copy of the Product Disclosure Statement (PDS) or Prospectus and Target Market Determination (TMD) for MA1, PIF and the Notes available on mafinancial.com/invest and consider consulting with a financial adviser before making any investment decision. You should also read the PDS and TMD of PIF for further information on the capital buffer and the priority income features of PIF, and the PDS or Prospectus and TMD of MA1 and the Notes for further information on the credit exposure and product features of MA1 and the Notes. An investment in PIF, MA1 and the Notes involves risk. Past performance is not a reliable indicator of future performance. MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. See omnystudio.com/listener for privacy information.

What Matters returns in 2026 with a mini edition, featuring Andrew Pridham AO in conversation with Frank Danieli, MA Financial’s Head of Global Credit Solutions. Frank unpacks the key themes from his latest quarterly investor letter, “The return on my money,” where Frank explains that when investing in private credit, capital preservation – the return on your money – matters most, however the return on your money also needs to be attractive for the risks taken. Andrew and Frank also unpack: • Portfolio performance for the 2025 December quarter • Insight into what Frank is seeing in global credit markets • A snapshot on the Australian economy, from real time insights in MA Financial’s data • Frank’s outlook for 2026 • The evolving regulatory landscape and why the focus on improved disclosure reinforces one of the core themes in Frank’s letter: how it’s important for investors to understand what really sits under the hood in their credit portfolio. Frank’s quarterly letter and podcast are your go-to for updates on our Global Credit Solutions fund suite, along with expert insights into trends shaping the private credit landscape. For more information, visit www.mafinancial.com The information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information in the podcast does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction.  Equity Trustees Limited (Equity Trustees) (ABN 46 004 031 298) (AFSL 240975) is the responsible entity for the MA Credit Income Trust ARSN 681 002 531 (MA1). MAAM RE Ltd (MAAM RE) (ACN 135 855 186) (AFSL 335783) is the responsible entity of the MA Priority Income Fund ARSN 648 809 849 (PIF). MA Credit Portfolio Holdings Limited ACN 691 943 638 is the issuer (Issuer) of the MA Credit Portfolio Notes (ASX: MA2HA) (the Notes). You should obtain a copy of the Product Disclosure Statement (PDS) or Prospectus and Target Market Determination (TMD) for MA1, PIF and the Notes available on mafinancial.com/invest and consider consulting with a financial adviser before making any investment decision. You should also read the PDS and TMD of PIF for further information on the capital buffer and the priority income features of PIF, and the PDS or Prospectus and TMD of MA1 and the Notes for further information on the credit exposure and product features of MA1 and the Notes. An investment in PIF, MA1 and the Notes involves risk. Past performance is not a reliable indicator of future performance. MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. See omnystudio.com/listener for privacy information.

In this special mini edition of What Matters, Frank Danieli, Head of Global Credit Solutions at MA Financial, unpacks the key themes from his September quarter private credit investor letter exploring the theme “the greatest teacher, failure is.” Frank explains why at MA Financial we believe private credit investing is all about ‘avoiding losers, not picking winners.’ He reflects on recent high-profile borrower failures in the US such as First Brands and Tricolor, to illustrate the importance of managing credit risk and controlling structural risk, and the valuable lessons to be learned from studying situations that have gone wrong. Frank’s quarterly letter and podcast are essential resources for updates on MA Financial’s Global Credit Solutions fund suite, and expert insights into the trends shaping private credit markets. DISCLAIMER The information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information in the podcast does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction.  Equity Trustees Limited (Equity Trustees) (ABN 46 004 031 298) (AFSL 240975) is the responsible entity for the MA Credit Income Trust ARSN 681 002 531 (MA1). MAAM RE Ltd (MAAM RE) (ACN 135 855 186) (AFSL 335783) is the responsible entity of the MA Priority Income Fund ARSN 648 809 849 (PIF). You should obtain a copy of the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for MA1 and PIF available on mafinancial.com/invest and consider consulting with a financial adviser before making any investment decision. You should read the PDS and TMD of PIF for further information on the capital buffer and the priority income features of PIF, and the PDS and TMD of MA1 for further information on the credit exposure and product features of MA1. An investment in PIF and MA1 involves risk. Past performance is not a reliable indicator of future performance.  MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. See omnystudio.com/listener for privacy information.

Economist, author and broadcaster David McWilliams joins Andrew Pridham for a fascinating look at what he calls the next global super-cycle — a world of rising tariffs, managed trade and an AI-fuelled boom — and how Australia can thrive in this new era. In a lively, entertaining and thought-provoking conversation, David taps into his unique ability to make economics relatable and shares his distinctive take on: • The enduring importance of the US dollar — and why cash still matters • How Australia can balance its ties with both the US and China • The psychology of money — and why it is humanity’s greatest invention • Why FOMO might explain the queues for gold in Martin Place • Why bitcoin could be “a solution in search of a problem”; and • How “animal spirits” continue to drive real-world economies Recorded in Sydney during David’s world tour for his best-selling book Money: A Story of Humanity — a Financial Times, Observer and Economist Book of the Year — this episode blends insight and big-picture thinking on where global markets may go next. This information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information contained does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. © All rights reserved 2025. See omnystudio.com/listener for privacy information.

In this episode, Andrew Pridham AO sits down with Premiership-winning AFL coach John Longmire, the Sydney Swans’ Executive Director of High Performance. After 14 years coaching one of the AFL’s most successful clubs, John reveals what elite sport can teach us about leadership, culture, and making tough decisions under pressure. Together, Andrew and John explore: How to sustain high performance over the long term Managing different personalities in a team environment Building resilience within teams Creating and maintaining a winning culture Packed with practical, hard-earned lessons from the elite level, this conversation is full of insights you can apply directly to business and leadership. DISCLAIMER This information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information contained does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. MA Financial cannot guarantee the accuracy of the information in this podcast and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. © All rights reserved 2025. See omnystudio.com/listener for privacy information.

In this mini edition of What Matters, Andrew Pridham AO sits down with Frank Danieli, our Head of Global Credit Solutions, to discuss Frank’s latest June quarter investor letter which explores the theme ‘The only certainty is uncertainty’.    Frank discusses why, at MA Financial, we don’t spend time trying to predict the future when managing our Global Credit Solutions funds. Instead, we embrace uncertainty as a constant and invest and manage our portfolios to deliver on our objectives across a broad range of market conditions.    Frank and Andrew also unpack private credit essentials:   What is private credit?  What should investors look for in a manager?  The asset class’s key defensive feature: its senior position in the capital structure meaning it ranks ahead of equity.  Frank’s quarterly letter and podcast are your go-to for updates on our Global Credit Solutions fund suite, along with expert insights into the trends shaping the private credit landscape.  For more information, visit mafinancial.com.  DISCLAIMER The information in this podcast series is being made available by MA Financial Group Limited (ACN 142 008 428) and its related bodies corporate (“MA Financial”) for informational purposes only and reflects the views of its participants as at the date indicated. Information may include general advice only and does not take into account your individual objectives, financial situation, needs or tax circumstances. The information contained does not constitute and should not be construed as an offering of advisory services, personal investment advice, or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction. Equity Trustees Limited (Equity Trustees) (ABN 46 004 031 298) (AFSL 240975) is the responsible entity for the MA Credit Income Trust ARSN 681 002 531 (MA1). MAAM RE Ltd (MAAM RE) (ACN 135 855 186) (AFSL 335783) is the responsible entity of the MA Priority Income Fund ARSN 648 809 849 (PIF). You should obtain a copy of the Product Disclosure Statement and Target Market Determination for MA1 and PIF available on mafinancial.com/invest and consider consulting with a financial adviser before making any investment decision. You should thoroughly read the PDS and Target Market Determination of PIF to understand the capital buffer and priority income features of PIF that are referred to in the podcast. An investment in PIF and MA1 involves risk. Past performance is not a reliable indicator of future performance. MA Financial and Equity Trustees cannot guarantee the accuracy of the information in this podcast and have not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. The information in the podcast may contain forward-looking statements, forecasts, estimates and projections (“Forward Statements”). Neither any member of MA Financial nor any independent third party has reviewed the reasonableness of any Forward Statements or the assumptions that underlie them. No member of MA Financial represents or warrants that any Forward Statements will be achieved or will prove to be correct or that the assumptions on which the Forward Statements are based are reasonable. This podcast, including the information contained herein, is the sole property of MA Financial and may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of MA Financial. See omnystudio.com/listener for privacy information.

In a must-listen episode, What Matters welcomes back Ken Moelis, the legendary Founder, Chairman, and CEO of Moelis & Company.   Ken joins Andrew Pridham AO for a wide-ranging conversation on the forces shaping the global financial landscape, explaining why:  - the banking industry is being re-shaped  - private credit is just getting started  - AI, the need for power and the rate of technological change, will drive economic and M&A activity.  The pair unpack the impact of tariffs, the pressure on the Federal Reserve regarding interest rates and why potential gridlock post next year’s US mid-term elections could be good for business.  Ken also shares insightful reflections on leadership transition as he moves from CEO to Executive Chairman (effective October), lessons he’s learned founding Moelis & Company, whether AI could reshape dealmaking and his optimism about economic opportunities in the Middle East and why he thinks Europe could be set for a defence-led tech revival.       See omnystudio.com/listener for privacy information.

On this mini edition of What Matters, Andrew Pridham AO talks with our Head of Global Credit Solutions Frank Danieli about his new quarterly private credit investor letter released in mid-April titled ‘Predicting rain doesn’t count’.    Frank dives into March quarter fund performance and explains why at MA Financial when it comes to investing in private credit we build the ark, not predict rain – we focus on portfolio resilience over market forecasts seeking to deliver strong returns through all cycles. Frank and Andrew also share insights into how financial advisers can navigate private credit in the context of volatile equities markets.  Frank’s new quarterly letter is a go-to for regular updates on our Global Credit Solutions fund suite along with expert insights into key themes shaping the private credit landscape. Visit our website for more information https://mafinancial.com/  Equity Trustees Limited (ABN 46 004 031 298) (AFSL 240975) is the responsible entity for the MA Credit Income Trust ARSN 681 002 531 (MA1). Equity Trustees Limited is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT). MAAM RE Ltd (MAAM RE) (ACN 135 855 186) (AFSL 335783), is the responsible entity for the MA Priority Income Fund ARSN 648 809 849 (PIF). The information in this podcast has been prepared by MA Investment Management Pty Ltd (MAIM) (ACN 621 552 896) as an authorised representative of MAAM RE to provide you with general information in relation to MAIM’s investment capabilities, including with respect to MA1 and PIF (each a “Fund” and together, “the Funds”). In preparing the information, MAIM has not taken into account the investment objectives, financial situation or particular needs of any particular person. Because of that, before making an investment you should consider the appropriateness of this information having regard to your objectives, situation and needs. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither MAAM RE, MAIM, Equity Trustees nor any of their related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for each of the Funds and consider the PDS and TMD before making a decision about whether to invest in any of the Funds. The PDS and TMD for MA1 is available at mafinancial.com/MA1 and mafinancial.com/invest/private-credit for PIF. Neither MAAM RE, MAIM, Equity Trustees nor any MA Financial Group entity guarantees repayment of capital or any particular rate of return from the Funds.   All opinions and estimates included in this podcast constitute judgements of MAIM as at the date of the podcast and are subject to change without notice. Statements contained in the podcast that are not historical facts are based on expectations, estimates, projections, opinions and beliefs of MAIM as at the date of the podcast. Such statements involve known and unknown risks, uncertainties and other factors, and should not be relied upon in making an investment decision. Any references in this podcast to targeted or projected returns of the Funds are targets only and may not be achieved. Investment in the Funds is subject to risk including possible delays in payment or loss of income and principal invested. This information is intended for recipients in Australia only. The address and telephone details for MAAM RE are Level 27, Brookfield Place, 10 Carrington Street, Sydney NSW 2000 and +61 2 8288 5594. Equity Trustees address and telephone details are Level 1, 575 Bourke Street, Melbourne VIC 3000 and +61 3 8623 5000. Equity Trustees and MAAM RE as responsible entities (each a “Responsible Entity”), its related bodies corporate, the Responsible Entity’s directors and employees and associates of each may receive remuneration in respect of advice and other financial services provided by the relevant Responsible Entity. The relevant Responsible Entity has entered into various arrangements with MAIM in connection with the Fund issued by them. In connection with these arrangements MAIM may receive remuneration or other benefits in respect of the financial services it provides.  See omnystudio.com/listener for privacy information.