AMP LIMITED — Capital/Financing Update 2021

Nov 8, 2021

ASX RELEASE | 9 November 2021

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AMP announces redemption of AMP Capital Notes (ASX: AMPPA)

AMP Limited announces that it will redeem all of its A$267.5 million AMP Capital Notes ( Notes ) on the optional exchange date which is 22 December 2021 ( Redemption Date ).

In accordance with the Terms of the Notes, AMP may elect to redeem some or all of the Notes on the Redemption Date, subject to prior written approval from the Australian Prudential Regulation Authority ( APRA ). APRA has provided its prior written approval of the redemption to AMP.

Holders who are on the register of Notes on 14 December 2021 will receive the face value of A$100.00 per Note plus the final distribution of A$1.2755 per Note (together, Redemption Amount ) on the Redemption Date.

The key dates in relation to the redemption are set out below.

Key dates:

Last day of trading Notes on ASX	10 December 2021
Record date for payment of the Redemption Amount	14 December 2021
Redemption Amount payment date	22 December 2021

This ASX announcement (including the attached form of redemption notice) constitutes notice of the redemption of the Notes to all Holders, the Trustee and the ASX in accordance with the Terms of the Notes. A notice will also be sent to all noteholders.

For further information please contact AMP as follows:

Media enquiries

Investor enquiries

Mark Roberts

Mobile: +61 466 328 581

Jason Bounassif

Phone: +61 2 9257 7109

Katherine Perry Mobile: +61 411 247 629

Michael Vercoe

Phone: +61 2 9257 4244

AMP shareholder services : 1800 245 500

Authorised for release by the Market Disclosure Committee.

CORPORATE AFFAIRS T 02 9257 6127 E media@amp.com.au W AMP.com.au/media AMP_AU

AMP LIMITED 33 Alfred Street, Sydney NSW 2000 Australia ABN 49 079 354 519

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9 November 2021

AMP Capital Notes (ASX code: AMPPA) issued on 30 November 2015 (AMP Capital Notes): Exchange notice under clause 6.1 of Terms of AMP Capital Notes (Terms)

AMP Limited ( AMP ) hereby notifies all holders of AMP Capital Notes and the Trustee (as defined in the Terms) that it is has elected to Exchange all AMP Capital Notes on the Optional Exchange Date (22 December 2021) in accordance with the Terms[1] . AMP confirms that the Exchange Method elected is Redemption.

AMP confirms that the Australian Prudential Regulation Authority ( APRA ) has provided its prior written approval of such Exchange.

On 22 December 2021, each Capital Note will be Redeemed by payment to the relevant holder the Face Value of A$100 for each AMP Capital Note held on 14 December 2021, being the Record Date. AMP confirms that the final Distribution of A$1.2755 for each AMP Capital Note will also be paid to holders on 22 December 2021. The distribution is for the period from (and including) 22 September 2021 to (but excluding) 22 December 2021. Both payments are subject to the Terms.

The last day of trading in the AMP Capital Notes on the ASX is expected to be 10 December 2021.

This notice is the Exchange Notice which is required to be given in accordance with the Terms and is irrevocable.

Attached for the purposes of ASX Listing Rule 3.17.1 is a copy of the letter/email being sent to Holders of AMP Capital Notes today.

Capitalised expressions in this notice which are not otherwise defined have the meanings given to them in the Terms.

1 The Terms of the AMP Capital Notes are set out in Appendix A to the AMP Capital Notes Replacement - Prospectus dated 3 November 2015 available at: https://corporate.amp.com.au/shareholder centre/other-securities/amp-capital-notes

AMP LIMITED

33 Alfred Street, Sydney NSW 2000 Australia ABN 49 079 354 519

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Mr Jon Sample 123 Sample Street Sampleville NSW 2000

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AMP Capital Notes to be redeemed on 22 December 2021

Dear Investor

This notice is to inform you that AMP Limited ( AMP ) has elected to redeem all AMP Capital Notes.

If you hold AMP Capital Notes on 14 December 2021 ( Record Date ), you will be paid A$100 ( Face Value ) and a final distribution payment of A$1.2755 for each AMP Capital Note held. This payment will be credited to your nominated bank account on 22 December 2021. The distribution payment is for the period from (and including) 22 September 2021 to (but excluding) 22 December 2021. Both payments are subject to the AMP Capital Notes Terms[1] .

The last day of trading in the AMP Capital Notes on the ASX is expected to be 10 December 2021.

Please ensure your payment details are up to date so that you correctly receive your redemption payment and final distribution payment. You can check your details at amp.com.au/shares/easyupdate or the Computershare Investor Centre.

Enclosed with this letter is the ASX announcement regarding the redemption [ for mail recipients ] / The ASX announcement regarding the redemption can be viewed on amp.com.au/shares [ for email recipients ].

All existing AMP Capital Notes will be redeemed and AMP is not offering a retail notes reinvestment option to investors at this point in time.

If you have any questions about your AMP Capital Notes, please contact the AMP Share Registry on 1300 654 442 or email shares@amp.com.au.

Yours sincerely

Jason Bounassif

Group Treasurer and Investor Relations

1 The Terms of the AMP Capital Notes are set out in Appendix A to the AMP Capital Notes Replacement Prospectus dated 3 November 2015 available at: https://corporate.amp.com.au/shareholder-centre/other-securities/amp-capital-notes

AMP LIMITED

33 Alfred Street, Sydney NSW 2000 Australia ABN 49 079 354 519