Notice of Management Fee Reduction: Pendal Dynamic Income Fund – Class W (APIR: PDL77550AU, ARSN 622 750 734)

This document has been prepared by Pendal Fund Services Limited (Pendal) ABN 13 161 249 332, AFSL No: 431426 and the information is current as at the date of this document. Pendal is the responsible entity and issuer of units in the fund listed in this document (Fund). A Product Disclosure Statement (PDS) is available for the Fund and can be obtained by calling us or visiting www.pendalgroup.com. You should obtain and consider the PDS before deciding whether to acquire, continue to hold or dispose of units in the Fund. An investment in the Fund is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested.

This information been prepared without taking into account any recipient’s personal objectives, financial situation or needs. Because of this, recipients should, before acting on this information, consider its appropriateness having regard to their individual objectives, financial situation and needs. This information is not to be regarded as a securities recommendation.

This information is for general information only and should not be considered as a comprehensive statement on any of the matters described and should not be relied upon as such. Neither Pendal, Perpetual Limited nor any of its’ subsidiaries gives any warranty for the accuracy, reliability or completeness of the information in this document or otherwise endorses or accepts responsibility for this information. Except where contrary to law, Pendal intends by this notice to exclude all liability for this material.