Kind regards, Kirsten Armstrong Director, Impact Investing, Social Ventures Australia Patrick Bollen Associate Director, Impact Investing, Social Ventures Australia 3 Side by Side Social Impact Bond Investor Report 2024 Side by Side SIB Overview The Side by Side SIB funds the delivery of the Side by Side Program in Victoria, which is delivered by Berry Street Victoria Incorporated (Berry Street) a. [...] To fund the Side by Side Program prior to the receipt of the outcome-linked payments, Berry Street borrowed $5 million from the Side by Side SIB Trust2 , which in turn raised capital from investors through the issue of Notes. [...] The Side by Side SIB Trust (being SVA Nominees Pty Ltd as the trustee of the Side by Side SIB Trust) is the issuer of the Side by Side SIB, and is managed by Social Ventures Australia Limited. [...] 11 Side by Side Social Impact Bond Investor Report 2024 Profile of Side by Side Program students The following charts illustrate some characteristics of Side by Side Program students enrolled in the first three cohorts. [...] The progression factor is 88% for the Intervention Year and 85% for the Monitoring Year.8 As outlined in the Side by Side SIB Information Memorandum and the 2022 Annual Investor Report, the Referral Year Days Absent for the first two cohorts of students was ‘deemed’ at a level such that their Attendance Improvement (Intervention Year) is equal to the target performance level of 22%.
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