PATRICK TUTTLE - CHIEF EXECUTIVE OFFICER AND DIRECTOR Patrick is a respected leader in the Australian mortgage market and within the broader financial services and securitisation industries. As CEO of one of Australia’s leading specialist lenders, Patrick is focused on ensuring Pepper Homeloans continues to help customers open the door to financial freedom. Patrick is a capital markets and financial services specialist with extensive experience in Australian mortgage-backed securities and securitisation programmes. Joining Pepper from Macquarie Bank in 2001 Patrick has also been the driving force behind Pepper’s mortgage-backed securities (“PRS”) programme which has issued in excess of A$2 Billion in Australian non-conforming mortgage-backed securities. He is a Chartered Accountant and has been a National Committee Member of the Australian Securitisation Forum, Inc. since 2004. Top

DAVID HOLMES - CHIEF OPERATING OFFICER AND DIRECTOR Appointed in August 2000 as Pepper’s Chief Operating Officer, David Holmes brings a wealth of experience in the non-conforming home loan market to Australia. David is responsible for the strategy, development, implementation and ongoing monitoring of Pepper’s credit policy and procedures. He oversees all of Pepper’s servicing operations teams; this includes Underwriting, Business Processing, Customer Service, Collections, Settlements and Compliance and is ultimately responsible for all aspects of Pepper’s lending criteria and end-to-end operations processes. Prior to joining Pepper, he was involved in pioneering the non-conforming home loan market in the UK while working as a senior credit executive with the established Preferred Mortgages. Earlier, he was a financial advisor with, Abbey National, a major UK Bank, which he joined after a successful career in underwriting with Citibank and earlier as branch manager with Nationwide Building Society, Britain’s largest building society. Top

RICHARD BALZER - CHIEF FINANCIAL OFFICER, COMPANY SECRETARY AND DIRECTOR As CFO, Company Secretary and a Director, Richard shares responsibility with the CEO for the planning, co-ordination and development of Pepper’s business strategy as well as overseeing the management of its credit and market risk exposures and all aspects of its financial operations. Richard joined Pepper in 2004 from Macquarie Bank’s mortgage securitisation business. He holds an MBA from the Macquarie Graduate School of Management and is qualified as a Chartered Accountant. Richard is also a member of the Accounting Committee of the Australian Securitisation Forum. Top

DUCO SICKINGHE - DIRECTOR SALES AND DISTRIBUTION As Pepper's Sales and Distribution Director, Duco is responsible for the development and implementation of Pepper’s ongoing sales and distribution initiatives. Duco also has primary responsibility for developing strategic alliances and demand for Pepper's specialised mortgage products. He has been with Pepper since 2002 and during that time has been a key driver of business growth. Duco has had successful senior distribution roles with several home loan giants including Aussie Home Loans, before joining Pepper from Suncorp where he held several senior management positions. He holds several post graduate qualifications including an MBA from the Macquarie Graduate School of Management. Top

TONY WALDEN – HEAD OF OPERATIONS Tony is responsible for all operational aspects of loan origination and servicing activities. Tony has been with Pepper since 2005 and has 38 years experience in mortgage servicing. Prior to joining Pepper, Tony was Head of Operations for the ANZ wholesale lending arm, Origin and previously managed the entire lending activities including origination and servicing for the Retail and Commercial arm of Town and Country Bank in Perth. Top