AUB GROUP LIMITED — Capital/Financing Update 2024

Jul 3, 2024

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ASX Announcement

Not for release to US wire services or distribution in the United States

4 July 2024

The Manager Market Announcements Office Australian Securities Exchange Ltd Level 6, Exchange Centre 20 Bridge Street Sydney NSW 2000

AUB Group successfully completes Share Purchase Plan

AUB Group Limited ( ASX: AUB ) (AUB) announces the successful completion of its share purchase plan ( SPP ), which closed at 5.00pm (AEST) on 28 June 2024. The SPP was first announced to the ASX on 13 June 2024, and followed AUB's A$200 million placement to institutional investors ( Placement ) conducted in May 2024.

The SPP received strong support from shareholders, with approximately A$49 million of valid applications received from eligible shareholders, exceeding the SPP target size of A$25 million. 2,549 eligible shareholders applied under the SPP, with an average application size of approximately A$19,000.

As a result and in accordance with the terms of the SPP as set out in the SPP Offer Booklet dated 17 June 2024, AUB will scale back applications consistently having regard to the size of the existing shareholdings of applicants. Individual applications under the SPP will be provided a minimum allocation of $1,000 and a maximum allocation of A$30,000[1] . AUB confirms that under the SPP, eligible shareholders who applied for their pro rata equivalent[2] received at least their pro rata equivalent, subject to the application cap of $30,000, and shareholders who applied for less than their pro rata equivalent received the amount they applied for.

A total of approximately A$25 million of shares will be issued at A$27.50 per share, which is the same price paid by institutional investors under the Placement. The SPP shares will rank equally with existing shares on issue from allotment and are expected to commence trading on 8 July 2024, with holding statements expected to be dispatched on the same day. Application monies which are not applied to the acquisition of SPP shares (including as a result of the scale-back) will be refunded to applicants in accordance with the terms of the SPP.

1 In both cases, rounded down to the nearest share.

2 Pro rata equivalent based on the total equity raising size comprising the A$200m Placement and A$25m share purchase plan at the A$27.50 issue price, relative to the number of AUB shares on issue prior to the Placement.

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AUB's CEO and Managing Director, Mike Emmett said: "On behalf of the AUB Board, I would like to thank our retail shareholders for their applications and continued support of AUB Group. Proceeds raised under the Share Purchase Plan will provide additional financial flexibility to enable the continued execution of AUB’s accretive and strategic M&A pipeline."

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The release of this announcement was authorised by Mike Emmett, AUB Group CEO and Managing Director.

For further information, contact Richard Bell, Chief Legal and Risk Officer, on +61 2 9935 2222 or richardb@aubgroup.com.au.

About AUB Group

AUB Group Limited (ASX: AUB) is an ASX200 listed group of retail & wholesale insurance brokers and underwriting agencies operating in ~570 locations globally. Over 5,000 team members work with ~950,000 clients to place ~AUD 9.5bn in insurance premiums with local and foreign insurers.

Not an offer in the United States

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States or any other jurisdiction where it would be unlawful. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws.

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