Becoming a substantial holder

603    Page 1 of 2

                                                                          Form 603

                                                                   Corporations Act 2001
                                                                       Section 671B
                                                             Notice of initial substantial holder

 To Company Name/Scheme                The Agency Group Australia Ltd (Company)

 ACN/ARSN                              118 913 232

1. Details of substantial holder (1)
 Name                                  HONAN INSURANCE GROUP PTY LTD

 ACN (if applicable)                   005 372 396

 The holder became a substantial holder on           01/08/2019

2. Details of voting power
The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate
(2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

  Class of securities (4)                      Number of securities                   Person's votes (5)                         Voting power (6)
  Fully paid ordinary shares (Ordinary
                                               7,692,308                              7,692,308                                       6.37%
  Shares)

3. Details of relevant interests
The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became
a substantial holder are as follows:

  Holder of relevant interest                            Nature of relevant interest (7)                             Class and number of securities
                                                         Power to exercise voting rights attached to the
  HONAN INSURANCE GROUP PTY LTD                                                                                   7,692,308 Ordinary Shares
                                                         securities and power to dispose the securities

4. Details of present registered holders
The persons registered as holders of the securities referred to in paragraph 3 above are as follows:
  Holder of relevant            Registered holder of                       Person entitled to be                       Class and number of securities
  interest                      securities                                 registered as holder (8)
  HONAN INSURANCE               HONAN INSURANCE GROUP PTY                  HONAN INSURANCE GROUP PTY
                                                                                                                      7,692,308 Ordinary Shares
  GROUP PTY LTD                 LTD                                        LTD

5. Consideration
The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial
holder became a substantial holder is as follows:
  Holder of relevant                   Date of acquisition               Consideration (9)                            Class and number of securities
  interest
                                                                             Cash                   Non-cash
  HONAN INSURANCE GROUP                                                    $0.065 per
                                       1 AUGUST 2019                                                                7,692,308 Ordinary Shares
  PTY LTD                                                                    share

6. Associates
The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

  Name and ACN/ARSN (if applicable)             Nature of association
  HONAN INSURANCE GROUP PTY LTD
                                                Entity that the substantial holder controls
  ACN 005 372 396

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7. Addresses
The addresses of persons named in this form are as follows:

  Name                                        Address

  HONAN INSURANCE GROUP PTY LTD
  ACN 005 372 396                             Level 9, 60 City Road, Southbank VIC 3006

   Signature

               print name                                                                 capacity

               sign here                                                                  date       2019