This　paper　is　concerned　with　the　problem　of　fault　estimation　and　fault-tolerant　consensus　tracking　control　for　Lipschitz　nonlinear　multi-agent　systems　subject　to　external　disturbance.　In　order　to　improve　the　communication　efficiency　of　main　network　channels,　two　periodic　event-triggered　mechanisms　are　developed　between　sensor　to　observer　and　observer　to　controller,　respectively.　An　event-triggered　fault　observer　is　developed　to　estimate　existing　faults　and　the　estimated　result　is　used　for　the　design　of　a　fault-tolerant　controller　to　ensure　system　security.　According　to　Lyapunov-Krasovskii　theorem　and　the　free-weighting　matrix　technique,　the　model　gains　of　the　observer　and　the　controller　can　be　obtained　by　solving　a　series　of　bilinear　matrix　inequalities　(BMIs).　To　address　the　difficulty　associated　with　BMIs,　two　iterative　algorithms　based　on　linear　matrix　inequalities　(LMIs)　are　developed.　Finally,　a　simulation　example　of　satellite　vehicles　is　given　to　illustrate　the　effectiveness　of　the　obtained　theoretical　results.