Strategic alliance with MDC Trilogy

ASX Release
17 November 2022

  THE AGENCY ACCELERATES GROWTH OPPORTUNITES WITH STRATEGIC ALLIANCE WITH MDC TRILOGY
National real estate company The Agency Group Australia (ASX:AU1) (“The Agency” or “the Company”) has entered
into a strategic alliance with MDC Trilogy Group (“MDC Trilogy”) to accelerate market share growth across new and
complementary geographical areas. The alliance is underpinned by a services agreement where The Agency manages
property management assets purchased and owned by MDC Trilogy.

MDC Trilogy’s first investment vehicle MDC Trilogy Wholesale Yield Fund I has reached financial close on its inaugural
investments where it has purchased businesses with over 650 property managements across Sydney and Queensland
which are now managed by The Agency.

The alliance facilitates all sales agents and team members of businesses purchased by MDC Trilogy to join The Agency.
This provides a significant mechanism for market share growth.

The Agency Managing Director Geoff Lucas stated “The Agency is always looking for new and innovative ways to
expand our market share and grow our agent presence. That’s why we’re excited to be collaborating with MDC Trilogy
under a services agreement; it opens new doors to more opportunity for agents to join our business, across more
markets, in more ways. It also allows continued expansion into more geographical areas across Australia in a capital
efficient manner for The Agency shareholders.”

“An inhibitor to agent recruitment is often an agent owning existing rent roll assets. The alliance with MDC Trilogy
provides an opportunity for the agent to sell their business including rent roll assets and join The Agency as a sales
agent. The business sale allows the agent to refocus on their selling strengths rather than administrative tasks that
enables a focus on superior services and results to the customers.”

Mr Lucas believes that with the financial backing of MDC Trilogy there is significant opportunity for The Agency to
further enhance returns on its scalable operating model.

“Across Australia, there are 3.25 million rental properties which we estimate are worth near $3 trillion dollars. This is
broadly equivalent to the entire ASX listed stocks value and compared to the ASX listed funds management industry,
the management of the residential rental properties has seen limited innovation over recent decades. The fragmented
ownership of real estate offices across Australia means that many rent roll assets are not at sufficient scale to operate
efficiently, nor can their owners appropriately invest in technology that improves the tenant and landlord experience.
This is where The Agency’s operating model and national presence is advantageous, and why MDC Trilogy considered
us an attractive services provider for their funds management model,” he said.

Mr Lucas continued, “Our partnership with MDC Trilogy is a long-term growth opportunity. These initial settlements are
the first of many that we expect with MDC Trilogy, as it becomes a pillar of our broader strategy to grow our national
market share through additional geographical markets and does not preclude The Agency purchasing rent roll assets
directly ”.

Murray Darling Capital Founder Michael Birch stated “From our assessment, there is significant inherent value within
Australian rent rolls. The industry is ripe for consolidation and we believe there is significant opportunity for MDC
Trilogy to liberate sales agents to return to solely focus on selling while giving the property management arms of these
businesses the appropriate infrastructure and system support to organically grow. This provides an opportunity to
deploy significant capital in purchasing rent rolls across our target markets as we execute our strategy. MDC Trilogy
chose The Agency as its key service provider because of its national reach and direct engagement model with agents.

These factors allow us to service many geographical areas via a single agreement where we can extract efficiencies for
all parties”.

Trilogy Co Founder Phillip Ryan stated “I am pleased to announce the first tranche of settlements for the MDC Trilogy
Wholesale Yield Fund I. We see this as an extension of our existing managed funds operated by the Trilogy Group
where we have $1 billion under management on behalf of over 5,000 active investors. This fund is a way for our
investors to gain economic exposure to the performance of a significant portfolio of property management assets held
by the MDC Trilogy Group and I look forward to further settlements as we grow the portfolio”.

MDC Trilogy Group intends to continue purchasing rent rolls across areas with favourable demographics, strong rental
appreciation potential and high demand from tenants and investors and is in late stage due diligence on a number of
further opportunities that will be managed by The Agency.

About MDC Trilogy

MDC Trilogy Group is a joint venture between Murray Darling Capital (“MDC”) and Trilogy Funds (“Trilogy”).

About MDC

Murray Darling Capital is a corporate advisory firm and investment advisory firm. Murray Darling Capital partners
maintain long standing relationships with private and institutional investors in addition to a broad array of investment
advisors.

In addition to searching for investment solutions, MDC will advise clients where MDC’s capabilities can deliver debt and
equity capital in addition to executing merger, privatisation, acquisitions and strategic advisory services.

About Trilogy

Trilogy Funds is one of Australia’s leading fund managers and financiers of property-based investments who have been
building wealth together with Australian investors, advisers, developers and brokers for over 24 years. Trilogy has over
$1 billion in funds under management on behalf of over 5,000 active investors.

Trilogy Funds has more than 50 team members with broad experience across investment products,
property acquisition, management and development, loan and portfolio management, investor relations, treasury,
marketing, finance, operations and human resources.

                                                         ENDS

Announcement authorised for release by the Board of The Agency Group Australia Limited.

If you require further information, please contact:

 Investors                                                    Media
 The Agency Australia Ltd                                     Chapter One Advisors
 Geoff Lucas                                                  David Tasker / Colin Jacoby
 T: +61 02 8376 9100                                          T: +61 433 112 936 / +61 439 980 359