2016 Full-Year Financial Report

6 October 2016

A downloadable version of the Pacific First Mortgage Fund Annual Financial Report (Accounts) for the year ended 30 June 2016 is now available. The Fund’s auditors, BDO, have audited the Accounts and have verified that they have been prepared in accordance with the applicable accounting standards and the Corporations Act 2001. As required, the Accounts have been lodged with the Australian Securities and Investments Commission. If Unitholders have nominated to receive a copy via mail or email these will be sent in the coming days.

Should you have any enquiries, please call Balmain Trilogy Investor Relations on 1800 194 500 or email investorrelations@trilogyfunds.com.au

Download: 2016 Full-Year Financial Report

Litigation Update

2 September 2016

KPMG: We previously advised that a claim was lodged against KPMG in relation to their role as compliance plan auditor of the Fund. This claim was filed in the Federal Court in September 2014. A confidential and without prejudice mediation was held recently and more information will be provided shortly.

Sullivan & Ors: In relation to the appeal, the hearing has been set for three days in November. Please note that the determination for the appeal may be made over these dates, or judgement could be reserved at a later date. For those who wish to attend the hearing at the Federal Court of Australia, details are listed below:

Judges: Gilmour, Farrell and Gleeson JJ
Time: 10:15 AM
Date: Monday, 14 November to Wednesday, 16 November 2016
Place: Law Courts Building, 184 Philip Street, Sydney
Duration: 3 days

The courtroom allocated for these hearings will be shown on a notice board in the foyer on the ground floor.

Should you have any enquiries, please call Balmain Trilogy Investor Relations on 1800 194 500 or email investorrelations@trilogyfunds.com.au

2016 Tax Statements, Periodic Statements and the Annual Financial Report

1 August 2016

Annual Taxation and Periodic Statements for the year ended 30 June 2016 for the Pacific First Mortgage Fund (the Fund) are expected to be released to Unitholders by mid-August, if not sooner. In the interim, we can advise that the taxable income of the Fund for the year ended 30 June 2016 is zero. The Annual Financial Report for the year ended 30 June 2016 for the Fund is expected to be available late September.

Should you have any enquiries, please call Balmain Trilogy Investor Relations on 1800 194 500 or email investorrelations@trilogyfunds.com.au

Sullivan & Ors Litigation Update

7 July 2016

Updates regarding the Sullivan & Ors appeal are provided to unitholders interested in following the proceedings. Please note that many of the initial court hearings are administrative processes in which the court makes orders in respect to (but not limited by) admissions, filing of affidavits, the inspection of documents, and other particulars. These directions hearings are not when the decision of the appeal is made. It is understood that orders have been made for preparation of the appeal hearing, which is likely to be allocated in November.

The directions hearing that occurred on 21 June 2016 adjourned the second notice to produce and ordered that a clone of the original Hard Disk Drive of City Pacific is to be produced in answer to the third notice to produce. Additionally, the Judgment from the final orders entered on the 4 March 2016 was stayed, pending the hearing and determination of the appeal and certain conditions being met. These conditions include, but not limited by:

1) take all available steps to expedite the hearing of the appeal; and

2) until determination of the appeal, each of the defendants will not dispose of, encumber, or otherwise deal with any of his assets other than:

a) in the ordinary course of business;

b) for the purpose of ordinary and reasonable living expenses; or

c) for the purpose of the prosecution of the appeal;

Further to the above, the Sullivan Parties are to pay $144,000 by way of security for Trilogy Fund’s costs for the appeal as part of the security of costs. The Sullivan Parties also filed and served an Amended Notice of Appeal on 17 June 2016 incorporating an application to adduce further evidence.

We will provide a further update when further information becomes available, or when the date for the determination of the appeal hearing is confirmed and announced. Should you have any enquiries, please call Balmain Trilogy Investor Relations on 1800 194 500 or email investorrelations@trilogyfunds.com.au

Sullivan & Ors Litigation Update

31 May 2016

The interlocutory hearing on the 27 May 2016 for the Appeal application for Sullivan, Swan and Donaldson has been adjourned for directions on 21 June 2016. The notice to produce, stay application and security for costs will be heard at this directions hearing. The appellant has been granted leave to amend the notice of appeal, with court documents citing fresh evidence to support the appeal application. We will provide a further update after the hearing, or when further information becomes available.

Should you have any enquiries, please call Balmain Trilogy Investor Relations on 1800 194 500 or email investorrelations@trilogyfunds.com.au

Sullivan & Ors Litigation Update

01 April 2016

Further to our previous update, papers were filed by Philip Sullivan requesting a stay of execution of the final orders that were anticipated to be handed down on March 2, 2016. The consent for the stay was granted up to and including March 23, 2016 which is also the final date an appeal must be lodged. A Notice of Appeal was lodged by Philip Sullivan on March 16, 2016 and orders were given for a directions hearing to be listed on April 5, 2016. The Notice to Produce has been stood over until this time as well as the extension of the stay up to and including April 5, 2016. We anticipate that we will provide a further update early April, or when further information becomes available.

Should you have any enquiries, please call Balmain Trilogy Investor Relations on 1800 194 500 or email investorrelations@trilogyfunds.com.au