PSH Launch event v0.10 DRAFT 20240924.pptx

Slides of the concept launch

1. Pension SuperHaven Concept launch 26 SEPTEMBER 2024 © Pension SuperHaven 2024

2. Decreasing proportion of employees with access to a ‘gold-plated’ DB pension Some with access to defined benefits pensions and contributing to money purchase Increasing number of employees with retirement options limited to annuity and drawdown Pension SuperHaven offers attractive pensions to all, not just those whose companies operated DB schemes. 80% of retirees want a pension that pays an income for their life*, however, only 10% buy annuities, many take pension posts as cash and most defer decisions, opting for lump sum withdrawals when needed. Maximising the benefit of pension pots 1 * https://www.scottishwidows.co.uk/about-us/media-centre/press-releases/new-retirement-matrix.html

3. Re-opening the offer of defined benefit pensions Members can be offered a scheme pension provided by Pension SuperHaven at attractive income rates. To safeguard members making decisions on their pensions, a comparison service is included, along with a simple bulk transfer to Pension SuperHaven. Pension SuperHaven is regulated by The Pensions Regulator and backed by the Pension Protection Fund. Pension for life tPR -regulated and PPF-backed Christmas bonus No need for employees to manage pensions Targeting 10-15% better pension rates than annuities and the prospect of an annual bonus Price promise – no member joins Pension SuperHaven on worse terms than an annuity Upside from investment performance shared with Pension SuperHaven members Pension SuperHaven is a defined benefit scheme that pays pensions from saver’s pots 2

4. Customer journey Members can access Pension SuperHaven directly, or via a master trust’s preferred implementation option Pension SuperHaven 1. Transfer directly to Pension SuperHaven Customers accept quotes and transfer as part of a bulk transfer. 2. Transfer investments to master trust Members transfer to have investments managed by a master trust, and assets used for lifetime income are Pension SuperHaven as a pension transfer. 2A. Master trust adopts PSH Inside option Members transfer to Pension SuperHaven in a similar approach to an investment pathway or as the default decumulation option. Pension options comparison and quote Pension Options comparison and quote Age Wage will provide employees a summary of Options (annuity, pension+). Accepted quotes PSH Inside Members at retirement Pension SuperHaven can be installed as a decumulation option or as the default retirement choice. It can initially sit outside a trust, and can be integrated (PSH Inside) later. 2 1 Implementation options Direct Via master trust 3

5. Customer journey Members can access Pension SuperHaven directly, or via a master trust’s preferred implementation option Pension SuperHaven 1. Transfer directly to Pension SuperHaven Customers accept quotes and transfer as part of a bulk transfer. 2. Transfer investments to master trust Members transfer to have investments managed by a master trust, and assets used for lifetime income are Pension SuperHaven as a pension transfer. 2A. Master trust adopts PSH Inside option Members transfer to Pension SuperHaven in a similar approach to an investment pathway or as the default decumulation option. Pension options comparison and quote Pension Options comparison and quote Age Wage will provide employees a summary of Options (annuity, pension+). Accepted quotes PSH Inside Members at retirement Pension SuperHaven can be installed as a decumulation option or as the default retirement choice. It can initially sit outside a trust, and can be integrated (PSH Inside) later. 2 1 Implementation options Direct Via master trust 4

6. Pension SuperHaven Trustee actuarial advisor Corporate trustee Trustee investment advisor Trustee Advisory Group Administration and servicing Market data and comparisons Legal advisor Member interaction technology Pension SuperHaven Professional Advisors and Suppliers Custodian Insurance wrapper Helen Copinger -Symes (Chair) Ian McKnight Frank Johnson Kathryn Graham Pension SuperHaven ( Holdings company and Sponsor Board ) Executive Committee Kathryn Graham (CEO) Andrew Beswick (COO) Henry Tapper (CMO) Global Pension Corporation Trustee legal advisor Lender legal advisor Trustee Advisor 5

7. Comparison: capital and member protection Pension SuperHaven Life insurance Capitalisation (funding at risk) 99.8% (1 in 500)* 99.5% (1 in 200) Investment portfolio Pensions regime - Full range of liquid/illiquid assets Insurance regime - Requires additional capital for non-matching assets Capital backing 100%+ of technical provisions, plus capital buffer (c15%) Varies based on accounting techniques, specifically matching adjustments and value in force Profit share Shared between members (20%) and sponsors (80%) 100% to shareholders Member protection backstop Pension Protection Fund 100% of pensions in payment, up to 2.5% of indexation benefits fully funded to 148% or liabilities (£12bn pound surplus) funded by industry levies Financial Services Compensation Scheme currently 100% protection for annuities funded by industry levies funding level not published - would require supplementary levies to meet annuity liabilities * Source: Redington, 5Y adjusted to 1Y. 6

8. How it works Pension SuperHaven Capital buffer 100% c.20% Allocation to growth assets 70%+ Allocation to growth assets 115% Surplus Technical provisions Estimated liabilities Surplus Sponsor capital Buffer Surpluses Pension pots Pension payments to members Estimated liabilities Technical provisions Sponsor capital backing Layers of member protection Members Christmas bonus PSH surplus is transferred to the capital buffer If needed, backing capital funds any TP shortfalls Shareholders 7

9. Speaker biographies Chairman Global InterConnection Group; Disruptive Capital Former Chairman of London Pension Fund Authority, orchestrating merger with Lancashire Founder and ex-CEO of Pension Insurance Corporation Founder and ex-CEO of Hambro European Ventures and Duke Street Capital private equity and private debt management Pension SuperHaven (in order of appearance) Guest Speakers (in order of appearance) Henry Tapper Director Kathryn Graham Chief Executive Officer Investment Committee, St James’s Place Chair of Investment Committee of Edinburgh University Pension Scheme Non-Executive Director, Behaviour Lab Non-Executive Director, Pension SuperFund Holdings Former Investment Director, USS; Hermes (BT pension fund) Edi Truell Managing Partner 40+ years’ experience in pensions Head of Sales, Eagle Star / Zurich Founder of AgeWage and Pension Playpen Noted industry commentator Former Pensions, Transport, Employment Minister, and Member of the House of Commons for Hexham in the United Kingdom Prior to political career 20+ years in public law Sometimes a jockey Former Deputy General Secretary (Postal) at the Communication Workers Union (CWU) since July 2015 Experienced Chair and pension trustee NED of XPS Group plc and Phoenix Group With Profits Committee and Advisory Board member of Moneyhub Financial Technology Limited Policy Adviser and Campaigner for Fairness Former Chief Economist at The Bank of England Named by Time magazine as amongst the world's 100 most influential people (2014) Chief Executive of the Royal Society for Arts & Head of the Levelling Up Taskforce Honorary Professor at the Universities of Nottingham, Manchester and Exeter Visiting Professor at King’s College, London  Andy Haldane   Margaret Snowdon, OBE Guy Opperman Terry Pullinger 8

10. IMPORTANT NOTICE TO INVESTORS This document is intended for discussion and information purposes only and does not create any legally binding obligations on the part of Disruptive Capital GP Limited (the “Investment Manager”), Long Term Assets Limited (the “Company”), or any of their respective affiliates. This presentation is an advertisement and is not a prospectus for the purposes of the UK version of the EU Prospectus Regulation and has not been approved by the Financial Conduction Authority. Investors should not subscribe for any of the ordinary shares, C Shares or ZDP Shares (the “Shares”) in the Company on the basis of this presentation but should only do so on the basis of the prospectus that will be published in connection with the possible transaction if a decision is taken to proceed with the IPO of the Company. Without limitation, this document does not constitute an offer, an invitation to offer or a recommendation to enter into any transaction. 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11. 10 Pension SuperHaven Vestry House Laurence Pountney Hill London EC4R 0EH