AMP LIMITED — Capital/Financing Update 2011

Mar 28, 2011

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29 March 2011

Manager Company Announcements Office Australian Stock Exchange Level 4, 20 Bridge Street Sydney NSW 2000

Manager Market Information Services Section New Zealand Stock Exchange Level 2, NZX Centre, 11 Cable Street Wellington New Zealand

Announcement No: 19/11

(Also for cross-release to AMP Group Finance Services Limited (ASX: AQNHA; NZX: AQN010)

AMP Group Finance Services Limited issues subordinated exchangeable notes

AMP Group Finance Services Limited announced today that it had completed a A$600 million floating rate subordinated exchangeable note issue.

The notes have been issued at 250 basis points over the 3 month Bank Bill Swap Rate, have a maturity date of 26 March 2021, unless redeemed or exchanged earlier, and are guaranteed on a subordinated basis by AMP Group Holdings Limited.

The net proceeds of the issue of the notes will be used by the AMP Group to partially fund the merger of AMP Limited and AXA Asia Pacific Holdings Limited’s Australian and New Zealand businesses. The notes qualify as Lower Tier 2 capital for APRA purposes.

UBS acted as arranger and lead manager on the transaction.

Media enquiries: Jane Anderson AMP Public Affairs Ph: +61 2 9257 9870 Mob: +61 402 967 791

Investor enquiries: Howard Marks AMP Investor Relations Ph: +61 29257 7109 Mob: +61 402 438 019

ABN 49 079 354 519

AMP Limited (AMP) ASX Announcement AMP Limited Level 24, 33 Alfred Street Sydney NSW 2000 Australia