At the Club’s Extraordinary General Meeting (EGM), held Wednesday 5th June 2019 the voting members of Newcastle Golf Club voted in favour of adopting a new progressive Club Constitution.

From 1st October 2019, generally speaking, all active playing members will transition into a full 7-Day membership category at Newcastle Golf Club. The Club’s current 5-Day category (which contains the majority of our female members) will cease to exist with the majority of our female members becoming 7-Day members.

The change demonstrates that Newcastle Golf Club is a progressive Club, providing further equality to the membership. The move essentially provides all members the opportunity to play in a competition up to 6 days per week, regardless of gender.

To assist in facilitating the change, the Board and Management of Newcastle Golf Club have established a new attractive 7-Day membership option, which provides for unlimited golf, with no green fee, for just $2,750 per annum.

While many Club’s throughout Australia and the region continue to operate with restricted booking times or blocks (or even entire days) based on gender, Newcastle’s weekly timesheets are gender neutral, with no gender restrictions in place, and competitions essentially available for both genders each day.

Newcastle Golf Club’s young General Manager, Mr Christian Gillott, who commenced in the role about two years ago, has welcomed the change and is proud to be part of a Club leading the way in this space.

“The new Club Constitution provides a great framework to govern the Club in a modern and progressive manner and is aligned with the Club’s strategic direction”, Mr Gillott said.

“The Club is on the verge of entering into an exciting development phase, securing the Club’s long-term sustainability, and the new membership structure, supported by the new Constitution provides a real opportunity for golfers in the region to be part of something special at a very attractive price. Even more so for active golfers, playing say twice a week, with our traditional no green fee model. When you crunch the numbers, it all of a sudden becomes very competitive”, commented Mr Gillott.

While some Club’s in the Hunter region have closed recently, and many Club’s in Australia no longer apply an entrance fee, Newcastle Golf Club plans to re-introduce an entrance fee once it has sufficient new members at the new membership price point. The Club, which is currently ranked no. 20 in Australia, has also traded strongly over the past two years, recording six-figure net profits annually, and with another forecast for this year.

“The Club’s membership has a very inclusive and progressive attitude, and it is such a great dynamic to be a part of as we continue our path of change and progression”, Mr Gillott stated.

Press Release re Constitution – June 2019 ©Newcastle Golf Club Page 1 of 2 Commercial in Confidence

“The Constitution change also provides for increased diversity on our Board, with about 74% of our membership now being eligible to stand for the Board, versus the previous 58%” Mr Gillott said.

The change is further underpinned by the Club’s recent success in attracting female golfers to its membership. The Club’s “Chip & Sip” program, now in its second year, has seen roughly 30 ladies new to golf engage with the game on a consistent basis in a structured, professional (and very social) program delivered by the award winning Jason Laws Golf Academy over the last 12-18 months.

“At less than $55 per week for unlimited golf, now’s the time to be part of something special”, were Mr Gillott’s closing comments.

About Newcastle Golf Club and the Development Opportunity:

The Newcastle Golf Club was established in 1905 and is consistently ranked in Australia’s Top 20 golf courses off the back of its inspiring rolling sand dune setting.

The Newcastle Golf Club is entering into a development phase (pending Council and Member approvals) that will see Bob Harrison of Harrison Golf, design 7 new holes largely in the same exciting and undulating natural land it’s 5th, 6th, and 7th holes are famous for. The development will involve a long-term ground lease on a portion of the Club’s Nelson Bay Rd frontage with the senior living operator, Principle Living (a joint venture between the McCloy and Stevens Groups). The development land will be handed over (on a long-term lease basis) once the new holes have been completed, minimising disruption for the Club’s membership. The Club will receive a substantial up-front payment and receive significant ongoing rental income from the transaction. These funds will allow the Club to realise the full potential of the outstanding golf site the Club owns and make Newcastle Golf Club one of the premier golfing venues in Australia.