Update on Proposed Disposal of InterPrac

• Sequoia terminates share sale agreement with Conquest Investment Partners
• Inability to satisfy all conditions and requirements within required timeframe
• Developments resulted in circumstances where completion cannot occur on original terms

Sequoia Financial Group Limited (ASX:SEQ) has announced that its subsidiary, Sequoia Wealth Group Pty Ltd, has terminated the Share Sale Agreement with Conquest Investment Partners Pty Ltd ('Conquest') for the proposed disposal of InterPrac Financial Planning Pty Ltd ('InterPrac'). The termination follows the inability of the parties to satisfy all conditions and requirements necessary to achieve completion of the transaction within the required timeframe. Developments subsequent to signing have resulted in circumstances where completion cannot occur on terms consistent with those originally contemplated by the parties. Having regard to the expected cost, complexity and uncertainty associated with progressing the transaction under these revised circumstances, the Company determined that it is not in the best interests of shareholders to proceed. Accordingly, the proposed sale of InterPrac to Conquest will not go ahead. Sequoia will continue to assess strategic options for InterPrac and will update the market accordingly.