AMP LIMITED — Capital/Financing Update 2023

Dec 14, 2023

ASX RELEASE | 15 December 2023

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Update on capital management program

AMP today provides an update on its $1.1 billion capital management program, in line with the commitment to update the market that it made in its 1H23 results announcement on 8 August 2023.

Under Tranche 1 and Tranche 2 of the capital management program, $750 million has been returned to shareholders since August 2022, via both on-market share buyback and dividends. AMP announced on 8 August 2023 that the final $350 million of the capital return program, known as Tranche 3, would be paused pending greater clarity on litigation matters.

Following the announcement on 23 November 2023 of an agreement being reached to settle the Buyer of Last Resort (BOLR) class action, AMP remains in ongoing discussions with regulators to begin Tranche 3 of its capital return. Tranche 3 remains paused while these discussions continue.

AMP remains committed to the Tranche 3 capital return, via buyback and dividends, and will update the market on any material development, no later than its FY23 results on 14 February 2024.

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All figures are in Australian dollars (A$) unless otherwise noted. Authorised for release by the Market Disclosure Committee.

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AMP LIMITED 50 Bridge Street, Sydney NSW 2000 Australia ABN 49 079 354 519