Proposed SLUK Transfer to Garrison Bridge

Questions and Answers

Section One:

The transfer process: What it means for you?

Lifetime Asset Management Limited (Lifetime) took over as manager of the SuperLife UK Pension Transfer Scheme (SLUK) on 1 November 2025.

Below are Questions and Answers about the proposal to transfer all members of the SuperLife UK Pension Transfer Scheme, your current scheme, to the Garrison Bridge Superannuation Scheme (Garrison Bridge), the proposed scheme.

1. What are the benefits for me?

Garrison Bridge, the proposed scheme, mirrors the benefit provisions of your current scheme SLUK, including being a Recognised Overseas Pension Scheme (ROPS) and using the same investment managers.

The overall effect of the transfer will be to ensure the seamless continuity of all the benefits you currently enjoy including:

• Oversight of the dedicated investment committee: Click to View 
• Both SLUK, your current scheme and Garrison Bridge, the proposed scheme, are Portfolio Investment Entities (PIE) allowing members to select the tax rate most applicable to their circumstances – either 10.5%, 17.5% or 28% Prescribed Investor Rate (PIR).

Additional benefits that you may benefit from are:

• Materially increasing the scale of the scheme you are invested in from circa $NZ140m to $470m.
• Access to additional Garrion Bridge funds that include GBP denominated funds.
• Garrison Bridge also includes Foreign Investment Zero-Rate PIE options. Non-New Zealand residents and transitional residents can elect to have a 0% PIR, potentially offering tax advantages. For more information on the Zero-Rate PIE options please refer to pages 9 to 11 of the Garrison Bridge Superannuation Scheme Other Material Information (OMI) - Click to View

2. Will my member costs increase?

The total costs, fees and charges relating to your investment will not increase on transfer. The Manager does have the right to amend fees in both the SLUK, your current scheme, and Garrison Bridge, the proposed scheme. This includes the ability to increase fees in the future.

3. What do I need to do?

You do not need to do anything. If the Financial Markets Authority (FMA) approves the transfer:

• Your transfer to Garrison Bridge will happen automatically.
• Your balance as at the transfer date, will be invested in an equivalent investment option in Garrison Bridge.
• All your current benefits will continue.

If for any reason the transfer is not approved, you will remain in SLUK, your current scheme.

4. Will my benefit entitlements be affected?

No. Your existing benefits will not be affected.

5. How does the transfer occur?

The transfer will happen automatically; you do not need to do anything.

On or about 2 February 2026 Lifetime will suspend all member activities, including switches and withdrawals.

On or about 9 February 2026 Lifetime will sell your investments in SLUK, your current scheme, and invest the proceeds in Garrison Bridge’s corresponding investment funds (see question 8).

Lifetime will confirm both dates in writing to you should the transfer from SLUK to Garrison Bridge proceed.

As the investment manager(s) are not changing, this transfer will happen with minimal disruption. There will be no costs for members.

For example, if a member has an account balance of NZD100,000 in SLUK, your current scheme, their opening balance in Garrison Bridge will be NZD100,000 plus or minus any PIE tax at the point of transition applicable to the SLUK investment holding.

6. Are there any costs for me in transferring to Garrison Bridge?

No. You will incur no costs or additional fees as part of the transfer.

7. How will transferred amounts be invested in the Garrison Bridge?

Garrison Bridge has established 10 new investment funds, which have the equivalent investment strategies and underlying investment managers to the investment funds in your current scheme, SLUK.

This means your funds within Garrison Bridge will continue to be invested in accordance with the current investment strategy created by the fund simplification process after Lifetime took over as manager of SLUK.

Please see the Garrison Bridge Superannuation Scheme (New) Product Disclosure Statement (Click to View) for details of the new investment funds. The Product Disclosure Statement gives you important information about the scheme and each of its investment funds.

The table below shows which investment fund your transferred amounts (and future contributions) will be invested in the Garrison Bridge:

8. What are the differences in the investment strategies of SLUK, your current Scheme, and the Garrison Bridge?

Garrison Bridge offers 10 investment funds that provide the same investment strategies as your current investment funds, including the same investment managers.

This means that your investment strategy will be the equivalent after the transfer.

If that outcome is not satisfactory from your perspective you will be able to choose another investment option in Garrison Bridge, transfer to another ROPS scheme that meets your needs or, if eligible to withdraw, be paid your investment savings.

In addition to the 10 investment funds that match the SLUK funds, Garrison Bridge offers seven other investment funds that you can choose from. Please see the Garrison Bridge Superannuation Scheme (Passive) Product Disclosure Statement for details of these additional new investment funds - Click to View.

There is also other useful information, including Garrison Bridge’s Statement of Investment Policy and Objectives (SIPO), that contains information about how the proposed scheme’s investment funds are invested - Click to View - you can also read at disclose-register.companiesoffice.govt.nz (click ‘Search Schemes’ and search for ‘Garrison Bridge Superannuation Scheme’).

This information is also available on the Garrison Bridge Superannuation Scheme - Click to View.

9. What is Garrison Bridge asset allocation in the investment fund that I will be automatically transferred?

Garrison Bridge offers 10 investment funds that mirror your investment strategy in SLUK, your current scheme. This means your investment strategy will be the equivalent after the transfer.

Full details are contained in the Garrison Bridge Superannuation Scheme (New) Product Disclosure Statement - Click to View.

Or view a high-level Summary of the Investment Funds - Click to View.

10. Can I change my investment fund?

Following the transfer Lifetime will write to you to explain how you can change your investment funds.

In Garrison Bridge, the proposed scheme, you can change your investment fund at any time.

If you choose to switch to a new investment fund which is in a different currency from the investment fund that you are currently invested in, we’ll exchange your money into the currency of the investment fund/s you’ve chosen at the prevailing exchange rate.

This change in currency may come at a significant cost and will not be covered by Lifetime. We suggest you seek financial advice before making a decision.

11. What if some of my details are incorrect? Can I change them prior to the transfer?

Yes. If any of your details are incorrect you can change them prior to the transfer. If you wish to change any of your details, please contact Lifetime at super@garrisonbridge.co.nz or on +64 472 7902 before 2 February 2026.

12. Will my details automatically be transferred to the Garrison Bridge?

Yes. Both SLUK and Garrison Bridge are managed by Lifetime, and registry for both are held at Adminis NZ Limited. Your details will automatically be transferred to Garrison Bridge.

13. Will my ability to access my savings in specified circumstances be affected?

Garrison Bridge is a ROPS. You will still be able to withdraw your money when you turn 55 in the case of UK Pension Transfer Money.

Your ability to withdraw any other contributions is set out in the Garrison Bridge Superannuation Scheme (New) Product Disclosure Statement - Click to View.

Section Three:

Following the transfer: Your Garrison Bridge membership.

1. Can I make contributions to Garrison Bridge after the transfer?

Yes. You can make an additional investment (i.e. regular or lump-sum contribution) at any time in Garrison Bridge. You choose how much to invest there are no minimum investment amounts.

2. Will my regular withdrawals continue after the transfer?

Yes. After the transfer is completed, your regular withdrawals will continue.

3. Can I see my New Scheme balance online?

Yes. After the transfer is completed, Lifetime, the Manager, will contact you to provide details of how you can securely view your balance online.

 If you have a Financial Adviser, they will also be able to view your balance online.

4. When will I know the transfer is completed? Will you communicate with me?

Yes. After the transfer is completed, Lifetime will contact you to confirm the transfer is completed. Lifetime will also provide you with a member statement to show you your balance before and after the transfer taking place.

5. Will I receive electronic communications from Lifetime?

Yes. You will receive electronic communications from Lifetime, with regards to your membership within Garrison Bridge including your Annual Tax Certificate, Annual Member Statement, the scheme’s Annual Report and general communications.