Pacific Current : Appendix 4E and Unaudited Financial Report FY2020

Tacoma // Denver // Sydney // Melbourne

31 August 2020

Company Announcements

For Immediate Release

ASX Code: PAC

APPENDIX 4E AND FINANCIAL REPORT FOR PACIFIC CURRENT GROUP LIMITED

In accordance with the Listing Rules of the Australian Securities Exchange ("ASX"), Pacific Current Group Limited encloses for immediate release the following information:

1. Appendix 4E, the Preliminary Final Report for the Year ended 30 June 2020; and
2. The Unaudited Financial Report for the Year ended 30 June 2020

AUTHORISED FOR LODGEMENT BY:

The Board of Pacific Current Group Limited

‐ENDS‐

CONTACT

For Investor Enquiries:

• Paul Greenwood - MD & CEO & CIO - ([phone]
• Tony Robinson - Chairman - ([phone]

For Media Enquiries in the US:

• Jessica Rettig - [e-mail]- ([phone]

ABOUT PACIFIC CURRENT GROUP LIMITED

Pacific Current Group Limited is a multi‐boutique asset management firm dedicated to providing exceptional value to shareholders, investors, and partners. We apply our strategic resources, including capital institutional distribution capabilities and operational expertise to help our partners excel. As at 31 August 2020, Pacific Current Group has investments in 15 boutique asset managers globally.

Pacific Current Group Limited (ABN 39 006 708 792)

Level 29, 259 George Street, Sydney NSW 2000 Australia

www.paccurrent.com

Tel: [phone] // Fax: [phone]

PACIFIC CURRENT GROUP LIMITED

(ABN 39 006 708 792)

ASX LISTING RULES - APPENDIX 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2020

The following information is presented in accordance with Listing Rule 4.3A of the Australian Securities Exchange ("ASX").

1. Details of the reporting period and the previous corresponding period

Current reporting period	‐ the year ended 30 June 2020
Previous corresponding	‐ the year ended 30 June 2019
period

2. Results for announcement to the market

Year ended	30 June 2020	30 June 2019	Increase /(Decrease)
	$'000	$'000	$'000	%
2.1 Revenue from ordinary
activities	62,726	62,853	(127)	(0.20)
Net (loss)/profit before tax	(27,317)	53,969	(81,286)	(150.62)
Underlying net profit before
tax	32,072	27,448	4,624	16.85
Underlying net profit after
tax	26,254	22,043	4,211	19.10
2.2 Net profit (loss)/profit from
ordinary activities after tax
attributable to members	(17,509)	37,612	(55,121)	(146.55)
Underlying net profit (from
ordinary activities after tax
attributable to members	25,034	20,765	4,269	20.56
2.3 Net (loss)/profit for the
period attributable to	(17,509)	37,612	(55,121)	(146.55)
members
Underlying net profit (loss)
for the period attributable to
members	25,034	20,765	4,269	20.56

Underlying results are unaudited Non‐IFRS measures. Refer to the attached Financial Report for details of these calculations.

2.4 Dividends (distributions)	Amount per	Franking amount per	Conduit
	security (cents)	security	foreign
			income per
			security
2020 Final	25	100%	n/a

2.5 Record date for determining entitlements to the dividend 18 September 2020

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PACIFIC CURRENT GROUP LIMITED

(ABN 39 006 708 792)

ASX LISTING RULES - APPENDIX 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2020

2.6 Commentary on "Results for Announcement to the Market"

1. A brief explanation of any figures in 2.1 to 2.4 above, necessary to enable the figures to be understood, is contained in the attached Unaudited Financial Report for the Year ended 30 June 2020.

2. A statement of comprehensive income
   A statement of comprehensive income together with notes to the statement is contained in the attached Unaudited Financial Report for the Year ended 30 June 2020.
3. A statement of financial position
   A statement of financial position together with notes to the statement is contained in the attached Unaudited Financial Report for the Year ended 30 June 2020.
4. A statement of cash flows
   A statement of cash flows together with notes to the statement is contained in the attached Unaudited Financial Report for the Year ended 30 June 2020.
5. A statement of changes in equity
   A statement of changes in equity together with notes to the statement is contained in the attached Unaudited Financial Report for the Year ended 30 June 2020.
6. Details of individual and total dividends or distributions and dividend or distribution payments.

Type	Record date	Payment date	Amount	Total	Franked	Conduit
			per	Dividend	amount	foreign
			Security	($)	per	income
			(cents)		security	per
						security
2019 Final	6 September 2019	11 October 2019	15.0	7,146,355	100%	n/a
2020 Interim	6 March 2020	2 April 2020	10.0	4,970,848	100%	n/a

1. Details of any dividend or distribution reinvestment plans Not applicable
2. Net tangible assets per security

	30 June 2020	30 June 2019
Net tangible assets per
security	$6.84	$6.07

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PACIFIC CURRENT GROUP LIMITED

(ABN 39 006 708 792)

ASX LISTING RULES - APPENDIX 4E

PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2020

10. Details of entities over which control has been gained or lost during the period During the period, control was gained over the following entities:

Name of entity	Date control gained
‐	‐

During the period, control was lost over the following entities:

Name of entity	Date control lost
‐	‐
11. Details of associates and joint venture entities	Ownership %
Associates		30 June 2020	30 June 2019
Aether General Partners		25.00	25.00
AlphaShares, LLC1		‐	36.53
Blackcrane Capital, LLC		25.00	25.00
Capital & Asset Management Group, LLP2	32.50	20.00
Freehold Investment Management Limited3	‐	30.89
Independent Financial Planner Group4		24.90	‐
Northern Lights Alternative Advisors LLP		23.00	23.00
Roc Group5		30.00	17.59
Victory Park Capital Advisors, LLC		24.90	24.90
Victory Park Capital GP Holdco, LP		24.90	24.90
Joint venture		50.00	‐
Copper Funding, LLC6
Associate of the joint venture		16.50	‐
Pennybacker Capital Management, LLC7
		30 June 2020	30 June 2019
		$'000	$'000
Aggregate share of profits of associates/joint venture:
Profit/(loss) from ordinary activities before tax	20,847	20,118
Income tax on ordinary activities		(415)	(847)
Net profit/(loss) from ordinary activities after tax	20,432	19,271
PAC share of profits/(loss) of associates/joint venture:	1,751	1,118

Notes:

1 - It was wound down as at 30 June 2020.

2 - Additional capital contributions made during the year increased the ownership from 20% at 30 June 2019 to 32.50% as at 30 June 2020.

3 - It was sold on 14 October 2019.

4 - Additional capital contributions made during the year increased the ownership from 10% at 30 June 2019 to 24.90% as at 30 June 2020. This investment was previously held as financial asset at fair value through other comprehensive income.

5 - Ownership increased from 17.59% at 30 June 2019 to 30% on 2 July 2019.

6 - Established on 23 November 2019 with Kudu Investments Management LLC to hold the investment in Pennybacker.

7 - Acquired on 14 December 2019.

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