C2 Accelerator units provides investors with 4.25x the performance of the BNP Paribas US Equities Dynamic AUD Hedged Index over a 10 year period while only have 1 times downside. This investment exhibits similar risks to investing in an index ETF on the downside, however the internal gearing significantly enhances the upside.

At Maturity, Investors will receive 4.25x any positive returns1 from the Reference Asset, via a 425% Participation Rate, however are only exposed to 1x on any negative performance. The Participation Rate is a mechanism that provides internal leverage.

Therefore, if the performance of the Reference Asset is positive at Maturity, an investment of $100,000 made during the Initial Offer Period will effectively have exposure to the positive performance of an equivalent investment of $425,000, without many of the usual risks or hassles associated with borrowing (such as margin calls, P&I repayment, loan application process including credit checks etc).

Importantly, if the performance of the Reference Asset is negative at Maturity, by reducing the Participation Rate to 100%, Investors exposure is not leveraged in this scenario as they effectively only have a $100,000 equivalent investment2. The internal leverage is calculated based on an Issue Price of $1.00 per Unit.

Historical Return

 Historical 10 Year Return Back Tests

The following back tests are provided to show how an investment with the features offered under this Term Sheet PDS for C2 Accelerator Series Units may have performed based on daily rolling 10 Year periods with rolling 10 Year Maturity Dates* for the period 1 February 2005 to 14 April 2025. A total of 2,566 10 Year back tests were run. The Final Value is based on a $100,000 Investment made during the Initial Offer Period. The results are not actual returns as the Units were not available at the time, nor was the Reference Asset available for the full period of the back test. The back tests have been provided for potential investors to help assist with their investment research and is not an
indicator of likely future performance. Investors should perform their own independent analysis.