Elanor Investors : Supplementary Financial Information HY22

For personal use only

21 February 2022

Company Announcements Office

ASX Limited

Exchange Centre

Level 4, 20 Bridge Street

Sydney NSW 2000

Dear Sir/Madam

Attached is the Elanor Investors Group (ASX: ENN) Supplementary Financial Information for the half year ended 31 December 2021.

Yours sincerely,

Symon Simmons

Company Secretary

Elanor Funds Management Limited

Authority and Contact Details

This announcement has been authorised for release by the Board of Directors of Elanor Funds Management Limited

For further information regarding this announcement please contact:

Symon Simmons

Company Secretary

Elanor Funds Management Limited

Phone: [phone]

Elanor Funds Management Limited | GPO Box 1511, Sydney NSW 2001 | www.elanorinvestors.com

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For personal use only

Supplementary

Financial

Information

For the half year ended 31 December 2021

Elanor Investors Group

Comprising the stapling of units in Elanor Investment Fund (ARSN 169 450 926) and ordinary shares in Elanor Investors Limited (ABN 33 169 308 187)

Level 38, 259 George Street,

Sydney NSW 2000

GPO Box 1511,

Sydney NSW 2001

www.elanorinvestors.com

For personal use only

ELANOR INVESTORS GROUP

TABLE OF CONTENTS

DIRECTORS' STATEMENT ..............................................................................................................	3
AUDITOR'S REVIEW OPINION .........................................................................................................	4
SUPPLEMENTARY STATEMENT OF PROFIT OR LOSS ........................................................................	6
SUPPLEMENTARY STATEMENT OF FINANCIAL POSITION...................................................................	7
SUPPLEMENTARY STATEMENT OF CASH FLOWS .............................................................................	9
BASIS OF PREPARATION...............................................................................................................	10

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ELANOR INVESTORS GROUP

DIRECTORS' STATEMENT

For personal use only

Directors' Statement

The Directors of Elanor Investors Group (Group, Consolidated Group or Elanor) present this Supplementary Financial Information in accordance with the conditions set out in the Information Memoranda dated 13 October 2017 and 14 December 2017 for the issue of $40,000,000 and $20,000,000 7.10 per cent five year Unsecured Fixed Rate notes due 17 October 2022 (Notes).

The purpose of this Supplementary Financial Information is to present Supplementary Statements of Profit or Loss, Financial Position and Cash Flows to holders of the Notes, the Note Trustee, the Lead Manager and Initial Subscriber under the Note conditions, for the half year ended 31 December 2021.

In the Elanor Investors Group's Interim Financial Report for the half year ended 31 December 2021, where Elanor is deemed to have control in any particular managed fund, the consolidation method is required in respect of Elanor's co-investment in that fund. This Supplementary Financial Information is presented on the basis that all of Elanor's managed fund co-investments are accounted for using the equity method.

In this Supplementary Financial Information, the Group's financial results including an equity accounted presentation of all managed fund co-investments is defined as the "ENN Group".

The Supplementary Statements of Profit or Loss, Financial Position and Cash Flows present both the Consolidated Group results and the ENN Group results, and "Adjustments" that reflect the required adjustments to the Consolidated Group results to remove the impact of the consolidation of the Group's deemed controlled managed fund co-investments and record their investments in accordance with the principles of equity accounting.

This Supplementary Financial Information should be read in conjunction with Elanor Investors Group's Interim Financial Report for the half year ended 31 December 2021.

This report is made in accordance with a resolution of the Boards of Directors of Elanor Funds Management Limited and Elanor Investors Limited.

Signed in accordance with a resolution of the Directors.

Paul Bedbrook	Glenn Willis
Chairman	CEO and Managing Director
Sydney, 18 February 2022

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For personal use only

Independent auditor's review report to the directors of Elanor Investors Limited

Report on the half-year supplementary financial information

Conclusion

We have reviewed the half-year supplementary financial information of Elanor Investors Limited and the entities it controlled from time to time during the half-year (the Group) which comprises the supplementary statement of financial position as at 31 December 2021, the supplementary statement of profit or loss and supplementary statement of cash flows for the half-year ended on that date, explanatory notes and the directors' declaration.

Based on our review, which is not an audit, nothing has come to our attention that causes us to believe that the accompanying half-year supplementary financial information of Elanor Investors Limited does not present fairly, in all material respects, the group's financial position as at 31 December 2021 and its financial performance and its cash flows for the half-year ended on that date, in accordance with the basis of preparation as described in Note 1 to the financial statements.

Basis for conclusion

We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity (ASRE 2410). Our responsibilities are further described in the Auditor's responsibilities for the review of the half-yearfinancial report section of our report.

We are independent of the group in accordance with the ethical requirements of the Accounting Professional & Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to the audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

Emphasis of matter - basis of accounting and restriction on distribution and use

We draw attention to Note 1 in the half-year supplementary financial information, which describes the basis of accounting. The half-year supplementary financial information has been prepared to present supplementary statements of profit or loss, financial position and cash flows to holders of the $40,000,000 and $20,000,000 7.10 per cent five-year Unsecured Fixed Rate notes due 17 October 2022 (the Notes) for the half year ended 31 December 2021. As a result, the half-year supplementary financial information may not be suitable for another purpose. Our report is intended solely for Elanor Investors Limited and its directors, the noteholders, the Note Trustee, the Lead Manager and Initial Subscriber and should not be distributed or used by parties other than Elanor Investors Limited and its directors. Our conclusion is not modified in respect of this matter.

Responsibilities of the directors for the half-year supplementary financial information

The directors are responsible for the preparation and fair presentation of the supplementary half-year financial information in accordance with the accounting policies as described in Note 1 to the financial statements and have determined that the accounting policies in Note 1, which form part of the half-year supplementary financial information, are appropriate to meet the needs of the directors and the Information Memoranda dated 13 October 2017 and 14 December 2017 for the issue of $40,000,000

PricewaterhouseCoopers, ABN 52 780 433 757

One International Towers Sydney, Watermans Quay, Barangaroo, GPO BOX 2650, SYDNEY NSW 2001 T: [phone], F: [phone]

Level 11, 1PSQ, 169 Macquarie Street, Parramatta NSW 2150, PO Box 1155 Parramatta NSW 2124 T: [phone], F: [phone]

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