AMP LIMITED — M&A Activity 2011

Mar 22, 2011

==> picture [523 x 90] intentionally omitted <==

----- Start of picture text ----- ASX Announcement----- End of picture text -----

23 March 2011

Manager Company Announcements Office Australian Securities 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: 16/11

AMP Limited (ASX/NZX: AMP)

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

Final price announced for AMP AXA merger

AXA Pacific Holdings (AXA APH) minority shareholders will receive the equivalent of A$6.43[1] per share for the merger of AXA APH’s Australian and New Zealand businesses with AMP Limited (AMP) and the sale of the Asian businesses to AXA SA.

The final consideration equivalent to A$6.43 per share, comprises 0.73 AMP shares for each AXA APH share and A$2.5464 cash. AXA APH minority shareholders will also receive AXA APH’s 2010 final dividend of 9.25 cents per share.

AXA APH shareholders will be issued with new AMP shares and receive the cash component of the Share Scheme on 30 March 2011. Trading of the new AMP shares will commence on 31 March 2011 under the ASX code ‘AMP’.

1 Based on AMP’s 10 day volume-weighted average share price (VWAP) of A$5.32 as at 22 March 2011 and excluding AXA APH’s 2010 final dividend of 9.25 cents.

AMP Limited (AMP) ASX Announcement

AMP Limited Level 24, 33 Alfred Street Sydney NSW 2000 Australia ABN 49 079 354 519