Bare Trust / Custodian Deed Template

This Deed is entered into on 1 June 2026 between Davidson Custodian Pty Ltd ("Bare Trustee") and Davidson Super Pty Ltd as trustee of the Davidson Family Superannuation Fund ("SMSF Trustee" or "Beneficiary").

1.1 Declaration: The Bare Trustee declares that it holds, and agrees to hold, the Asset (as defined below) as bare trustee on behalf of and for the sole benefit of the SMSF Trustee as Beneficiary, subject to the terms of this Deed.

1.2 Beneficial Ownership: The SMSF Trustee, as trustee of the Davidson Family Superannuation Fund, holds the entire beneficial interest in the Asset. The Bare Trustee has no beneficial interest in the Asset and holds legal title only.

1.3 Nature of Trust: This is a bare trust. The Bare Trustee must act at all times in accordance with the lawful written directions of the SMSF Trustee and has no independent discretion in respect of the Asset. This Deed is established in connection with a limited recourse borrowing arrangement pursuant to section 67A of the Superannuation Industry (Supervision) Act 1993 (Cth) ("SISA").

The Bare Trustee holds the following asset ("Asset") on trust for the SMSF Trustee as Beneficiary:

Asset: 1-bedroom apartment, Lot 42 in Strata Plan 12345 estimated at AUD 650,000 acquired on or about 1 June 2026. Property address and/or title reference: 42 Beach Street, Cronulla NSW 2230 (CT Vol. 1234 Fol. 567).

The Bare Trustee acknowledges receipt (or anticipated receipt) of the Asset and agrees to hold it on the trusts and subject to the obligations set out in this Deed. The Bare Trustee has no power to deal with, encumber, or dispose of the Asset except as expressly directed in writing by the SMSF Trustee. The Asset has been (or is to be) acquired using funds borrowed from Commonwealth Bank of Australia under a limited recourse borrowing arrangement, and the legal title is held by the Bare Trustee pending repayment of that borrowing.

The Bare Trustee covenants and agrees:

• 3.1 Hold on Trust: To hold the Asset on bare trust for the SMSF Trustee as Beneficiary and not to deal with the Asset in any way except in accordance with the written directions of the SMSF Trustee.
• 3.2 No Disposal: Not to sell, transfer, mortgage, charge, encumber, or otherwise deal with or dispose of the Asset without the prior written direction of the SMSF Trustee.
• 3.3 No Unilateral Action: Not to incur any obligations or liabilities in connection with the Asset without the prior written approval of the SMSF Trustee, except for unavoidable obligations arising under applicable law.
• 3.4 Notifications: To promptly notify the SMSF Trustee of any claim, demand, legal proceeding, notice, or other matter affecting the Asset.
• 3.5 Records: To maintain adequate records of the trust and to provide the SMSF Trustee with all information and documents reasonably requested concerning the Asset.
• 3.6 Compliance: To comply with all applicable laws (including the SISA, the SIS Regulations, ATO guidance on LRBAs) in connection with the holding of the Asset.

4.1 Right to Direct: The SMSF Trustee may at any time give written directions to the Bare Trustee in relation to the management, maintenance, or transfer of the Asset, and the Bare Trustee must promptly comply with all such directions.

4.2 Rights as Beneficiary: The SMSF Trustee, as sole beneficial owner, is entitled to all income and capital gains derived from or in respect of the Asset, and the Bare Trustee must promptly pay or account for all such income and gains to the SMSF Trustee.

4.3 Inspection: The SMSF Trustee, or its authorised representative, may at any reasonable time inspect and copy any documents held by the Bare Trustee in connection with the Asset.

4.4 LRBA Transfer: Upon repayment of all amounts owing under the limited recourse borrowing arrangement with Commonwealth Bank of Australia, the Bare Trustee must, at the written request of the SMSF Trustee, execute all documents and take all steps necessary to transfer the Asset to the SMSF Trustee (or its nominee) free and clear of all encumbrances.

5.1 Transfer Obligation: Upon the occurrence of the relevant transfer event, the Bare Trustee must promptly transfer legal title to the Asset to the SMSF Trustee (or such other entity as the SMSF Trustee nominates in writing).

5.2 Transfer Events: The transfer events are:

• Full repayment of all amounts owing to the lender under the limited recourse borrowing arrangement secured against the Asset;
• Written agreement between the Bare Trustee and the SMSF Trustee to transfer the Asset; or
• Winding up or termination of the SMSF, or other event requiring immediate transfer under applicable law.

5.3 Cooperation: The Bare Trustee must execute all transfer instruments, provide all consents, and do all things reasonably required to complete the transfer, at the cost and expense of the SMSF Trustee.

This Deed is established in connection with a limited recourse borrowing arrangement ("LRBA") pursuant to section 67A of the SISA, under which: The SMSF Trustee has borrowed or proposes to borrow AUD 390,000 from Commonwealth Bank of Australia for a term of 25 years at a variable interest rate.

6.1 Security: The lender's security interest is limited to the Asset held in this bare trust and does not extend to any other assets of the SMSF. The SMSF Trustee's recourse against the SMSF is limited to the beneficial interest in the Asset.

6.2 Repayment Date: The loan is to be fully repaid by 1 June 2051, at which time the Bare Trustee must transfer the Asset to the SMSF Trustee in accordance with clause 5 of this Deed.

6.3 SIS Compliance: The parties acknowledge that this arrangement is structured to comply with section 67A of the SISA and ATO guidance on limited recourse borrowing arrangements. The Asset may not be replaced with a different asset while the borrowing remains outstanding, except as expressly permitted under the SISA.

The legal title to the Asset is to be transferred to the SMSF Trustee upon full repayment of the LRBA loan.

Completion Timeframe: The Bare Trustee must complete the transfer within 30 days of the transfer trigger.

Upon transfer, the Bare Trustee warrants that it will deliver the Asset free and clear of all charges, mortgages, and encumbrances (other than any registered first mortgage securing the LRBA with the lender's consent to discharge) and will provide the SMSF Trustee with all certificates of title, contracts, warranties, and other documents relating to the Asset held by the Bare Trustee.

7.1 Indemnity: The SMSF Trustee indemnifies and holds harmless the Bare Trustee against all costs, expenses, liabilities, claims, and losses ("Costs") (including council rates, strata levies, building insurance premiums, and maintenance costs) incurred by the Bare Trustee solely in connection with holding the Asset on trust under this Deed, provided those Costs were incurred in good faith and in accordance with the SMSF Trustee's written directions.

7.2 Management Costs: All strata levies, council rates, and property maintenance costs shall be paid from SMSF assets as directed by the SMSF Trustee.

7.3 Limitation: The indemnity in clause 7.1 does not apply to any Costs arising from the Bare Trustee's fraud, wilful misconduct, or gross negligence.

9.1 Governing Law: This Deed is governed by and construed in accordance with the laws of New South Wales, Australia, and the parties submit to the non-exclusive jurisdiction of the courts of New South Wales.

9.2 Entire Agreement: This Deed constitutes the entire agreement between the parties in respect of the bare trust and supersedes all prior arrangements, representations, and understandings relating to the subject matter.

9.3 Amendment: This Deed may only be amended by a written instrument signed by both the Bare Trustee and the SMSF Trustee.

9.4 Continuing Obligation: The obligations of the Bare Trustee under this Deed continue until the Asset is transferred to the SMSF Trustee and all obligations of the Bare Trustee have been discharged.