Perpetual Limited · ASX:PPT
Perpetual — Shareholder Meeting (October 2021)
106 slides from Perpetual's shareholder meeting presentation, Oct 21, 2021
Slide 1: Perpetual Annual General Meeting 2021
Perpetual Limited ABN 86 000 431 827 Angel Place, Level 18, 123 Pitt Street Sydney NSW 2000 21 October 2021 Australia Phone +61 9229 9000 ASX Limited www.perpetual.com.au ASX Market Announcements Office Exchange Centre 20 Bridge Street Sydney NSW 2000 Perpetual Annual General Meeting 2021 The follow
Slide 2: 2021 Annual General Meeting
2021 ANNUAL GENERAL MEETING Addresses to Shareholders 21 October 2021 Perpetual Limited ABN 86 000 431 827 Title of Document goes here_1
Slide 3: Chairman's Address: Overview of FY21 performance
Perpetual Limited AGM – 21st October 2021 Chairman’s Address Overview of FY21 performance In a moment, I will ask our CEO and Managing Director, Rob Adams to deliver his address but before I do that, on behalf of the Board I would like to make some comments on Perpetual’s strategy and performance fo
Slide 4: Final dividend and delivery of strategic initiatives
This result enabled the Board to declare a final fully franked ordinary dividend of $0.96 per share, up from $0.84 in 1H21, and taking the dividend for the full year to $1.80. The full year dividend represents a 16% increase on the prior year, with a payout ratio of 82% of UPAT. Through the Barrow H
Slide 5: Acquisition integration and Board and Executive Committee
seven months of the financial year. Strong progress has also been made in the integration of each of these two acquisitions, as well as accelerated progress in building our global distribution capabilities across key regions. Today our operational footprint and distribution reach extends beyond Nort
Slide 6: Board diversity and executive remuneration
We are a member of the Australian Institute of Company Directors (AICD’s) 30% Director’s Club. We are committed to building a gender diverse talent pipeline and have set a target to have 40% women in leadership roles by 2024. The appointment of Mona also brings further gender diversity to the Board
Slide 7: Board remuneration and sustainability principles
changes for FY22. No changes had been made since FY16 and these adjustments are market based. We also introduced a differential between resident and non-resident directors to reflect the different markets. Excluding our new Director, the overall increase in Board remuneration is forecast to be 9.0%
Slide 8: Climate change and modern slavery
Slavery Manager to oversee this framework and are in the process of rolling-out company-wide training. We recognise climate change as one of the most significant long-term challenges facing the world and we support the aim of the Paris Agreement to limit global warming to 1.5 degrees. Climate change
Slide 9: Responsible investing across asset management businesses
Outside of Australia this year, we launched a new Trillium ESG Global High Conviction strategy led by a highly regarded investments team based in Edinburgh. Secondly, all our asset management businesses take an active approach to identifying environmental risks and opportunities through their invest
Slide 10: Concluding remarks
Concluding remarks In closing, the Board continues to be proud of the way that all teams at Perpetual have responded and are responding to the ongoing health and safety issues as a result of COVID-19. We thank them for this and also for the support they have provided to clients, communities and to e
Slide 11: CEO and Managing Director address
PPT FY21 ANNUAL GENERAL MEETING CEO and Managing Director Mr Rob Adams Good morning everyone and thank you Chairman. It is a privilege to be addressing you today at our AGM for the 2021 Financial Year. A High-Quality Financial Services Firm Investing for Growth As I reflect on the past 12 months, th
Slide 12: FY21 results drivers and growth strategy
down 9% on the prior year, due to the one-off costs associated with our acquisitions. Our return on equity rose slightly to 15.8%. This result was driven by; a full 12 months’ contribution from our acquisition of Trillium and seven months contribution from Barrow Hanley; higher performance fees as a
Slide 13: Global exposure and recent acquisitions
Today - through our acquisitions - we now have exposure to all key global markets, with a global presence, diversified by geography, by channel and by asset sector. Recently we completed two smaller, strategic acquisitions in PP and PCT. In PP the acquisition of Jacaranda Financial Planning has prov
Slide 14: Trillium partnership
Our partnership with Trillium presents a perfect synergy with a unique business with a strong heritage and proven investment process – Trillium were underinvested in marketing, distribution and in building a global presence. Perpetual, on the other hand, needed truly world-class investment capabilit
Slide 15: Barrow Hanley and building a sustainable future
Since our acquisition, supported by extremely strong relative investment performance, Barrow Hanley flows are performing ahead of our original expectations. Into the future, we see Trillium and Barrow Hanley evolving into truly global asset management firms, with their core capabilities sold around
Slide 16: ESG initiatives: environment and social
started providing submissions in 2010. We have also undertaken a project to improve our environmental and carbon data collection and reporting. This will help us to reinforce our approach to robust data capture, allowing us to report other environmental metrics in the future including waste reductio
Slide 17: Employee wellbeing
The periods of lockdown throughout the year have clearly had an impact on people’s mental health and their overall wellbeing. In response to this we have launched a number of initiatives to support our employees’ wellbeing including access to webinars, coaching and support services. In addition, we
Slide 18: Sustainability strategy and FY22 priorities
Finally, and importantly to ensure we remain at the forefront of ESG principles, this year our Board and Management team commenced a program of work to develop Perpetual’s first corporate sustainability strategy which will establish a framework for how Perpetual will in practice continue to help cre
Slide 19: New Horizons focus
− Finally, we will remain focused on New Horizons for Perpetual - taking advantage of the opportunities that the current market environment presents us with, leveraging the key strengths we have across our business. We will accelerate the build-out of our global distribution team and supporting infr
Slide 20: First quarter FY22 update
Our asset management teams had another quarter of strong relative investment performance. This follows the very strong outperformance delivered in FY21, and we were delighted to be awarded “Fund Manager of The Year” by leading research house, Zenith as a result. PCT had another strong quarter, with
Slide 21: Closing remarks
Each of our businesses has positive momentum and whilst our operating environment presents constant challenges, we will remain focused on the disciplined execution of our strategy and delivering improved operational leverage. There is now a renewed sense of optimism and confidence in our ability to
Slide 22: People and Remuneration Committee Chairman address
PPT 2021 Annual General Meeting People and Remuneration Committee Chairman Nancy Fox Good morning ladies and gentlemen. As Chairman of the People and Remuneration Committee, it is my pleasure to present to you today our key remuneration outcomes for the 2021 financial year. As highlighted by Tony an
Slide 23: Balanced scorecard and remuneration outcomes
Report, Perpetual uses a balanced scorecard to allow the Company to focus on both short and long-term strategic priorities. To date, this approach has served the Company well and continues to do so. In FY21, the scorecard was weighted 60% to financial performance measures and 40% to other strategica
Slide 24: Remuneration and COVID-19
the grants were, on average, 30% of the original maximum opportunity available in FY18. The Board believes this outcome provided appropriate alignment of Group Executives’ outcomes with shareholders’ experience. In exercising its discretion, the Board approved this outcome. COVID-19 The prolonged CO
Slide 25: Remuneration framework review and acknowledgements
We will continue to review our performance and reward approach in the coming years to ensure our remuneration framework stays aligned with our strategy. Additionally, we will monitor emerging industry trends and maintain compliance with any upcoming regulatory changes. The Board is confident that Pe
Slide 26: Perpetual Limited (ASX:PPT) 2021 Annual General Meeting
Perpetual Limited (ASX:PPT) 2021 Annual General Meeting ABN 86 000 431 827 Thursday 21 October 2021
Slide 27: Mr Tony D'Aloisio AM, Chairman
Mr Tony D’Aloisio AM Chairman
Slide 28: Ian Hammond and Chris Green
Ian Hammond Chris Green Independent Director Chief Financial Officer BA (Hons), FCA, FCPA, GAICD Joined: 2006 Appointed March 2015 3
Slide 29: Directors
Craig Ueland Fiona Trafford-Walker Independent Director Independent Director BA (Hons and Distinction), BEc, M. Fin MBA (Hons), CFA Appointed December 2019 Appointed September 2012 Mona Aboelnaga Kanaan Greg Cooper Independent Director Independent Director BSc (Econ), MBA FIA, FIAA, BEc (Actuarial A
Slide 30: Executives
Amanda Gazal Amanda Gillespie David Lane Chief Operating Officer Group Executive, Perpetual Group Executive, Perpetual Joined: 2020 Asset Management Australia Asset Management International Joined: 2018 Joined: 2017 Richard McCarthy Sam Mosse Mark Smith Group Executive, Perpetual Chief Risk Officer
Slide 31: Auditor: KPMG
Brendan Twining Partner Audit, Assurance & Risk Consulting KPMG 6
Slide 32: Today's Agenda
Today’s Agenda 1. Presentation of FY21 Financial Statements and Reports 2. Adoption of the Remuneration Report for FY21 3. Re-appointment of Craig Ueland as a Non-executive Director 4. Re-appointment of Ian Hammond as a Non-executive Director 5. Re-appointment of Nancy Fox as a Non-executive Directo
Slide 33: Mr Tony D'Aloisio AM, Chairman
Mr Tony D’Aloisio AM Chairman
Slide 34: Voting is now open
Voting is now open Voting will close five minutes after close of meeting 9
Slide 35: How to cast your vote online
How to cast your vote online Need Help? Call 1800 990 363
Slide 36: How to cast your vote online
How to cast your vote online HELP NUMBER i 1800 990 363 Get a Voting Card Voting Card SHARDHOLDER DETARS Voting Card PROKYETARS VE Trust is earned. Pe scirtte | Perpelvaip
Slide 37: How to ask a written question
How to ask a written question Need Help? Call 1800 990 363
Slide 38: How to ask a question by phone
How to ask a question by phone vege enue PIN “a Call ‘Questions Line’ on 1800 875 033 to ask live questions during AGM “ The moderator will request your x«**«* unique PIN , Dial Linke 100 900 363 Helbine *4 On your keypad to ask a question A teleconference moderator will introduce you at the right t
Slide 39: Mr Tony D'Aloisio AM, Chairman
Mr Tony D’Aloisio AM Chairman
Slide 40: Chairman's Address
Chairman’s Address Overview of FY21 Performance Delivery of Strategic Initiatives Board and Executive Committee Executive Remuneration Board Remuneration Sustainability and our ESG Principles Concluding Remarks 15
Slide 41: Mr Rob Adams, CEO & Managing Director
Mr Rob Adams CEO & Managing Director
Slide 42: Overview of Perpetual
Overview of Perpetual A high-quality financial services firm investing in future growth High quality business complemented by transformational Highlights acquisitions • Unique business combination delivering results across all divisions: Revenue ($m) 640.6 • Perpetual Asset Management International
Slide 43: FY21 overview
FY21 overview Investing for growth and delivering results $640.6m $124.1m $74.9m 15.8% $1.80 Operating revenue1 UPAT2 NPAT ROE3 Total dividend 31% on FY20 26% on FY20 9% on FY20 80bps on FY20 16% on FY20 640.6 124.1 82.0 1.80 74.9 15.8 1.55 490.5 98.6 15.0 FY20 FY21 FY20 FY21 FY20 FY21 FY2
Slide 44: Transformation to growth underway
Transformation to growth underway Where we are going Where are we today • A successful, growing global asset manager • Global presence, diversified by and financial services provider Where we were geography, distribution channel and asset class • Leveraging ESG strengths to build further scale acros
Slide 45: Barrow Hanley and Trillium
Barrow Hanley and Trillium Investment bringing transformational opportunities and strong growth horizons Where we are going • Relevant product structures across Where we are today all key regions • The Barrow Hanley distribution • Limited sales capability • Supported by expansion of our team has bee
Slide 46: Environment, Social and Governance
Environment, Social and Governance Building and sustainable future Environment • New product development - Launched Trillium ESG Global High Conviction Strategy in Edinburgh, two new Trillium funds in Australia and Multi Asset ESG Real Return Fund • Improved CDP climate score of B-. Strongest score
Slide 47: Perpetual's strategy for sustained growth
Perpetual’s strategy for sustained growth OUR STRATEGY OUR PURPOSE OUR VISION OUR VALUES Enduring prosperity Most trusted in financial services Excellence, integrity, partnership Clients People Shareholders Trusted brand and Attract, develop and inspire Delivering sustainable enduring relationships
Slide 48: Key priorities for FY22
Key priorities for FY22 Continued execution of strategy to drive sustained quality growth Client first Future fit New horizons Exceptional products Empowering our people New capabilities Outstanding service to deliver high performance Global footprint Deliver contemporary investment Continue to
Slide 49: AGM Video
Perpetual Limited (ASX:PPT) 2021 Annual General Meeting AGM Video: https://youtu.be/gDOeaURRGWA
Slide 50: Mr Rob Adams, CEO & Managing Director
Mr Rob Adams CEO & Managing Director
Slide 51: Q1 FY22 Summary
Q1 FY22 Summary1 Perpetual total AUM was A$101.0 billion2 up 2.7% on the prior period, with positive net flows of A$0.1 billion Perpetual Asset - Trillium AUM of A$8.3 billion, up 48% Perpetual Asset - Received the 2021 Zenith Fund Management since acquisition Management Manager of the Year4 award I
Slide 52: Summary
Summary Execution of strategy driving sustainable growth Unique portfolio of Executing well Disciplined investment in businesses on strategy quality growth opportunities • High quality businesses well- • Strategy to build a global asset • Focus on new product and positioned for future growth managem
Slide 53: Mr Tony D'Aloisio AM, Chairman
Mr Tony D’Aloisio AM Chairman
Slide 54: Financial statements and reports
Financial statements and reports Questions and comments
Slide 55: How to ask a question by phone
How to ask a question by phone vege enue PIN “a Call ‘Questions Line’ on 1800 875 033 to ask live questions during AGM “ The moderator will request your x«**«* unique PIN , Dial Linke 100 900 363 Helbine *4 On your keypad to ask a question A teleconference moderator will introduce you at the right t
Slide 56: Mr Tony D'Aloisio AM, Chairman
Mr Tony D’Aloisio AM Chairman
Slide 57: Resolution 1: Remuneration Report
Resolution 1: Remuneration Report To adopt the Remuneration Report for the financial year ended 30 June 2021. Note: Perpetual’s key management personnel, named in the Company’s 2021 Remuneration Report, or their closely related parties, cannot vote on this resolution either in their own capacity or
Slide 58: Ms Nancy Fox AM
Ms Nancy Fox AM Chairman – People and Remuneration Committee
Slide 59: Mr Tony D'Aloisio AM, Chairman
Mr Tony D’Aloisio AM Chairman
Slide 60: Resolution 1: Remuneration Report
Resolution 1: Remuneration Report To adopt the Remuneration Report for the financial year ended 30 June 2021. Note: Perpetual’s key management personnel, named in the Company’s 2021 Remuneration Report, or their closely related parties, cannot vote on this resolution either in their own capacity or
Slide 61: Resolution 1: Remuneration Report
Resolution 1: Remuneration Report Valid proxies received For 24,219,957 (94.52%) Open 824,263 (3.22%) Against 579,352 (2.26%) Abstain 180,428 36
Slide 62: Cast your vote online
Cast your vote online FOR AGAINST ABSTAIN
Slide 63: Resolution 2: Re-appointment of Mr Craig Ueland
Resolution 2: Re-appointment of Mr Craig Ueland Craig Ueland Independent Director BA (Hons and Distinction), MBA (Hons), CFA Appointed September 2012 That Mr Craig Ueland, retiring as a Director of the Company in accordance with clause 20.9.1 of the Company’s Constitution and who has consented to st
Slide 64: Mr Craig Ueland
Mr Craig Ueland Non-executive Director
Slide 65: Mr Tony D'Aloisio AM, Chairman
Mr Tony D’Aloisio AM Chairman
Slide 66: Resolution 2: Re-appointment of Mr Craig Ueland
Resolution 2: Re-appointment of Mr Craig Ueland Craig Ueland Independent Director BA (Hons and Distinction), MBA (Hons), CFA Appointed September 2012 That Mr Craig Ueland, retiring as a Director of the Company in accordance with clause 20.9.1 of the Company’s Constitution and who has consented to st
Slide 67: Resolution 2: Re-appointment of Mr Craig Ueland
Resolution 2: Re-appointment of Mr Craig Ueland Valid proxies received For 24,679,284 (96.32%) Open 826,330 (3.22%) Against 117,038 (0.46%) Abstain 189,806 42
Slide 68: Cast your vote online
Cast your vote online FOR AGAINST ABSTAIN
Slide 69: Resolution 3: Re-appointment of Mr Ian Hammond
Resolution 3: Re-appointment of Mr Ian Hammond Ian Hammond Independent Director BA (Hons), FCA, FCPA, GAICD Appointed March 2015 That Mr Ian Hammond, retiring as a Director of the Company in accordance with clause 20.9.1 of the Company’s Constitution and who has consented to stand for re-appointment
Slide 70: Mr Ian Hammond
Mr Ian Hammond Non-executive Director
Slide 71: Mr Tony D'Aloisio AM, Chairman
Mr Tony D’Aloisio AM Chairman
Slide 72: Resolution 3: Re-appointment of Mr Ian Hammond
Resolution 3: Re-appointment of Mr Ian Hammond Ian Hammond Independent Director BA (Hons), FCA, FCPA, GAICD Appointed March 2015 That Mr Ian Hammond, retiring as a Director of the Company in accordance with clause 20.9.1 of the Company’s Constitution and who has consented to stand for re-appointment
Slide 73: Resolution 3: Re-appointment of Mr Ian Hammond
Resolution 3: Re-appointment of Mr Ian Hammond Valid proxies received For 24,469,739 (95.51%) Open 826,330 (3.23%) Against 324,433 (1.27%) Abstain 189,807 48
Slide 74: Cast your vote online
Cast your vote online FOR AGAINST ABSTAIN
Slide 75: Resolution 4: Re-appointment of Ms Nancy Fox AM
Resolution 4: Re-appointment of Ms Nancy Fox AM Nancy Fox AM Independent Director BA, JD (Law), FAICD Appointed September 2015 That Ms Nancy Fox AM, retiring as a Director of the Company in accordance with clause 20.9.1 of the Company’s Constitution and who has consented to stand for re-appointment,
Slide 76: Ms Nancy Fox AM
Ms Nancy Fox AM Non-executive Director
Slide 77: Mr Tony D'Aloisio AM, Chairman
Mr Tony D’Aloisio AM Chairman
Slide 78: Resolution 4: Re-appointment of Ms Nancy Fox AM
Resolution 4: Re-appointment of Ms Nancy Fox AM Nancy Fox AM Independent Director BA, JD (Law), FAICD Appointed September 2015 That Ms Nancy Fox AM, retiring as a Director of the Company in accordance with clause 20.9.1 of the Company’s Constitution and who has consented to stand for re-appointment,
Slide 79: Resolution 4: Re-appointment of Ms Nancy Fox AM
Resolution 4: Re-appointment of Ms Nancy Fox AM Valid proxies received For 24,691,020 (96.30%) Open 831,227 (3.24%) Against 116,417 (0.45%) Abstain 179,791 54
Slide 80: Cast your vote online
Cast your vote online FOR AGAINST ABSTAIN
Slide 81: Resolution 5: Appointment confirmation of Ms Mona Aboelnaga Kanaan
Resolution 5: Appointment confirmation of Ms Mona Aboelnaga Kanaan Mona Aboelnaga Kanaan Independent Director BSc (Econ), MBA Appointed June 2021 That Ms Mona Aboelnaga Kanaan, having been appointed as a Director of the Company in accordance with clause 20.9.2 of the Company’s Constitution and who h
Slide 82: Ms Mona Aboelnaga Kanaan
Ms Mona Aboelnaga Kanaan Non-executive Director
Slide 83: Mr Tony D'Aloisio AM, Chairman
Mr Tony D’Aloisio AM Chairman
Slide 84: Resolution 5: Appointment confirmation of Ms Mona Aboelnaga Kanaan
Resolution 5: Appointment confirmation of Ms Mona Aboelnaga Kanaan Mona Aboelnaga Kanaan Independent Director BSc (Econ), MBA Appointed June 2021 That Ms Mona Aboelnaga Kanaan, having been appointed as a Director of the Company in accordance with clause 20.9.2 of the Company’s Constitution and who h
Slide 85: Resolution 5: Appointment confirmation of Ms Mona Aboelnaga Kanaan
Resolution 5: Appointment confirmation of Ms Mona Aboelnaga Kanaan Valid proxies received For 24,754,912 (96.59%) Open 837,597 (3.27%) Against 36,580 (0.14%) Abstain 189,366 60
Slide 86: Cast your vote online
Cast your vote online FOR AGAINST ABSTAIN
Slide 87: Resolution 6: Approval of 2021 variable incentive equity grants for CEO
Resolution 6: Approval of the 2021 variable incentive equity grants for the Managing Director & CEO Resolution 6(a) That approval is given for all purposes, including ASX Listing Rule 10.14, for the issue of 21,560 share rights to Mr Rob Adams as part of his variable incentive equity grant for the p
Slide 88: Resolution 6(a): Variable incentive equity grants for Managing Director & CEO
Resolution 6 (a): Approval of the 2021 variable incentive equity grants for the Managing Director & CEO Valid proxies received For 24,210,201 (94.42%) Open 825,691 (3.22%) Against 606,409 (2.36%) Abstain 176,154 63
Slide 89: Cast your vote online
Cast your vote online FOR AGAINST ABSTAIN
Slide 90: Resolution 6: Approval of 2021 variable incentive equity grants for CEO
Resolution 6: Approval of the 2021 variable incentive equity grants for the Managing Director & CEO Resolution 6(b) That approval is given for all purposes, including ASX Listing Rule 10.14, for the issue of 21,560 performance rights to Mr Rob Adams as part of his variable incentive equity grant for
Slide 91: Resolution 6(b): Variable incentive equity grants for Managing Director & CEO
Resolution 6(b): Approval of the 2021 variable incentive equity grants for the Managing Director & CEO Valid proxies received For 24,205,153 (94.40%) Open 824,353 (3.21%) Against 611,949 (2.39%) Abstain 177,000 66
Slide 92: Cast your vote online
Cast your vote online FOR AGAINST ABSTAIN
Slide 93: Resolution 7: Renewal of proportional takeover provisions
Resolution 7: Renewal of proportional takeover provisions That the proportional takeover provisions contained in clause 11.9 and Schedule 2 of the Company’s Constitution be renewed for a further period of three years, commencing from the date of this Annual General Meeting. 68
Slide 94: Resolution 7: Renewal of proportional takeover provisions
Resolution 7: Renewal of proportional takeover provisions Valid proxies received For 24,545,743 (95.76%) Open 833,452 (3.25%) Against 254,236 (0.99%) Abstain 185,024 69
Slide 95: Cast your vote online
Cast your vote online FOR AGAINST ABSTAIN
Slide 96: Q&A
Q&A 71
Slide 97: Cast your vote online
Cast your vote online FOR AGAINST ABSTAIN
Slide 98: Thank you.
~ Trust is earned. a sae Perpetual)
Slide 99: Save the Date: 2021 Investor Day
Save the Date Perpetual Limited 2021 Investor Day 9 December 2021 9.00 (AEDT) – 11.30 (AEDT) Registered participants can attend either in-person or via a webcast. Registration details to attend the event will be available soon.
Slide 100: Contacts
Contacts Emma Rumble Marisa Zammit General Manager, Corporate Affairs Head of Investor Relations & Investor Relations [email protected] [email protected] +612 9229 3998 +61 425 282 805 Connect with us at: About Perpetual Head Office perpetual.com.au Level 18, Angel Place, bar
Slide 101: Appendix
Appendix Perpetual : or
Slide 102: Perpetual Board of Directors
Perpetual Board of Directors Tony D’Aloisio AM Nancy Fox AM IanHammond Ian Hammond Chairman and Independent Director Independent Director IndependentDirector Independent Director BA, LLB (Hons) BA, JD (Law), FAICD BA(Hons), BA (Hons),FCA, FCA,FCPA, FCPA,GAICD GAICD Appointed September 2015 Appointed
Slide 103: Perpetual Executive Committee
Perpetual Executive Committee Rob Adams Chris Green Managing Director and Chief Chief Financial Officer Executive Officer Joined: 2006 Joined: 2018 Amanda Gazal Amanda Gillespie David Lane Chief Operating Officer Group Executive, Perpetual Asset Group Executive, Perpetual Asset Joined: 2020 Manageme
Slide 104: Definitions
Definitions Term Definition Term Definition Term Definition $A/AUD Australian Dollar Earnings before interest, tax, depreciation and PCT Perpetual Corporate Trust EBITDA amortisation of intangible assets, equity FY19 Full Year ended 30 June 2019 remuneration expense, and significant items PP Perpetu
Slide 105: Disclaimer
Disclaimer Important information the books and records that have been reviewed by the external auditor. UPAT is disclosed as it is useful for investors to gain a better understanding of Perpetual’s financial results from normal operating activities. This presentation has been prepared by Perpetual L
Slide 106: Office locations
NEW SOUTH WALES TRILLIUM ASSET MANAGEMENT: Angel Place Level 18, 123 Pitt Street Boston Sydney NSW 2000 Two Financial Center 60 South Street, Suite 1100 QUEENSLAND Central Plaza 1 Boston, MA 02111 Level 15, 345 Queen Street USA Brisbane QLD 4000 San Francisco AUSTRALIAN CAPITAL TERRITORY 160 Spear S