PHOENIX DISTRIBUTION (NSW) PTY LTD

Direct Couriers – Phoenix Transport

Direct Couriers (Aust) Pty Ltd (DC), a wholly owned subsidiary of Direct Couriers Group Pty Ltd (together, Direct Couriers), proposes to acquire 100% of the shares in Phoenix Transport Holdings Pty Ltd, along with its 100% wholly owned subsidiary, Phoenix Distribution (NSW) Pty Ltd (together, Phoenix Transport). Direct Couriers is an Australian provider of business-to-business courier, interstate delivery and warehousing services. It services logistics, freight forwarder, commercial and retail customers across Australia and New Zealand, and operates a number of sub-brands including ‘Direct Cold’ and ‘Direct Road’. It focuses on same day point-to-point services. Anacacia V Fund A and Anacacia V Fund B (together, the Fund), which are both unregistered Australian unlisted unit trusts, together own 49.7% of the shares in DC, with the remaining 50.3% held by existing and past management, as well as a passive investor. Phoenix Transport is also an Australian provider of business-to-business courier, interstate delivery and warehousing services, operating in New South Wales and Queensland. Although Phoenix Transport has national customers, its coverage is primarily limited to Brisbane and Sydney. Phoenix Transport services a mix of logistics, retail and commercial customers, with a stronger focus on third-party warehousing and distribution, larger-scale heavy-freight dedicated hire work, and on- transport for warehouse relocations and other similar project work.