AUB GROUP LIMITED — Investor Presentation 2021

May 2, 2021

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3 May 2021

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

FOR RELEASE TO THE MARKET

Presentation to Macquarie Australia Conference

Attached for immediate release in relation to AUB Group Limited ( ASX: AUB ) is the presentation to the Macquarie Australia Conference on Tuesday 4 May 2021.

ENDS

This release has been authorised by Mike Emmett, CEO and Managing Director.

For further information, contact David Franks, Joint Company Secretary, on +61 2 8098 1169 or davidf@aubgroup.com.au.

About AUB Group

AUB Group Limited is Australasia’s largest equity-based insurance broker network driving approximately A$3.6 billion GWP, servicing 700,000 clients and over one million policies across more than 450 locations.

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Macquarie Conference Presentation 4 May 2021 Mike Emmett CEO and Managing Director Mark Shanahan CFO

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ROBUST Q3 PERFORMANCE WITH BOTH REVENUE GROWTH AND MARGIN IMPROVEMENT

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Austbrokers continues to perform very strongly aided by:

• Premium rate increases in Q3 of 5.9%, at the top end of our 5%-

• 1 6% estimate

• Generally pleasing performance across the Austbrokers network

• Continued take up of ExpressCover

• Impressive premium growth in BizCover

• Margin improvements flowing through from the network consolidation strategy

• Acquisitions during FY20 performing at or above acquisition cases

2 Austagencies financial performance is improving with growth in revenue and margin as compared with the prior period

3 Head Office Cost reductions at the end of Q3 are ahead of plan, delivering savings of $2.3m against a full year target of $2.4m

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Whilst still in the early stages, there is no evidence to indicate that the removal of JobKeeper benefits is impacting the placement of insurance by clients

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As foreshadowed, AUB Group’s own insurances renewing in Q3 and Q4 are ~20% more expensive than the prior year

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AN OVERVIEW OF AUB GROUP – LARGEST EQUITYBASED INSURANCE BROKING GROUP IN AUSTRALASIA

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• Full complement of services and technology supporting the Austbrokers network of 64 brokerages

• Ongoing consolidation of businesses to create scale, improve efficiency and

• AUSTRALIAN align and enhance expertise and specialist focus  Establishment of Austplacements to support complex placements for

• BROKING member brokers in local and international markets

  • Recent launch of The Insurance Alliance, a non-equity membership network for independent brokers seeking to take advantage of the AUB Group capabilities and offerings

• Design, distribute and manage insurance products and portfolios via 30 agencies on behalf of locally licensed insurers and Lloyd’s syndicates

• Austagencies includes the 360 Underwriting and SURA Specialty portfolios  Major restructure of the division to create General Commercial, Specialty and Strata

AUSTAGENCIES[2]

• Acquisition of 360 Underwriting to acquire leading expertise and create scale (General Commercial)

$3.6BN+ GWP[2]

INSURANCE BROKING OF $3.0BN VIA EQUITY AND NETWORK PARTNERS | SPECIALIST AGENCIES $545MN

~ 700K ~1.4MN >450 CLIENTS POLICIES LOCATIONS 73 31 EQUITY-PARTNER BROKING SPECIALIST AGENCIES BUSINESSES

 AUB operates NZbrokers, the largest broker management group in NZ with 49 members (including 42 non-equity members)

NEW ZEALAND

• In addition, AUB has equity investments in 7 major broker partners and 1 underwriting agency

• BizCover is Australia’s leading digital SME insurance platform with multichannel presence and a comprehensive insurance offering

BIZCOVER &  ExpressCover is Australia’s newest and most advanced SME insurance PLATFORMS platform utilising the BizCover quote and bind engine

• Investments underway in AU&NZ Insurtech platforms to assist brokers and agencies

34YRS 17 OF ACTIVE PARTNERSHIP STRATEGIC INSURANCE EXPERIENCE PARTNERSHIPS AND ACCESS TO INTERNATIONAL PLACEMENTS VIA AUSTPLACEMENTS >3,000 STAFF

Helping our clients to safeguard a stronger, protected future…

1. All data as at 30 June 2020 except where indicated

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1. Updated to include 360 Underwriting Solutions - Annual GWP of $170mn

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FY21 PRIORITIES: EXPLOITING THE PORTFOLIO’S POTENTIAL FOR ORGANIC GROWTH COMPLEMENTED WITH STRATEGIC M&A

Strategic Themes

FY21 Strategic Priorities

Leverage the scale of our portfolio

• Optimise portfolio to create additional scale, increase market share and drive cost efficiency

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EXECUTE ON STRATEGICALLY ALIGNED ACQUISTIONS

Includes increased investments in current network businesses, new complementary bolt-ons as well as the potential for material strategic investments

• Align specialty expertise to deliver market-leading client offerings

• Leverage our scale to drive improved product offering and outcomes for our clients

• Create partner alignment to deliver enhanced commercial outcomes with insurers

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DELIVER MARKET LEADING TECHNOLOGY CAPABILITIES

Drive adoption of ExpressCover and Sentinel in Australia as well as commencing implementation of technology solution for New Zealand

REDUCE COSTS AND STREAMLINE HEAD-OFFICE

Uplift our agency proposition

• Enhanced support for AUB network partners

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Increase focus on business improvement initiatives at network businesses to drive stronger organic growth and efficiency

• Expand and supplement our Specialty capabilities

• Better leverage our position in the Strata industry

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OPTIMISE OUR PORTFOLIO

Execute on consolidation plans currently underway

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Continue to make technology a priority

• Continued investment in technology to drive enhanced client and partner experience

• Leverage technology to support the cost-agenda

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REINVIGORATE INSURANCE AGENCIES

Restructure the Insurance Agencies Division to enhance value proposition for customers and improve profitability

Disciplined capital allocation

• Continued focus on M&A opportunities that accretively supplement our strategic growth agenda (new acquisitions as well as bolt-ons)

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ENHANCE PARTNER PROPOSITION

Continue to enhance our partner and client value proposition working with Insurer Partners, insource and outsource providers and our network partners

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OUR FOCUS IS TO OPTIMISE THE BENEFIT TO AUB GROUP OF ALL BUSINESS PLACED ACROSS OUR NETWORKS

$3.6BN+ PREMIUM

PLACED ACROSS OUR BROKER AND AGENCY NETWORKS

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Opportunity Size
$$ 3 NON-AUB AGENCIES
LOCAL
$$$ 1 INSURERS
INTERNATIONAL INSURERS
AUB BROKERS &
.
$$ 2
WHOLESALE BROKERS Initiatives:
(via Austplacements)  Preferred
insurer panel
 ExpressCover
2 $  Grow Non-
equity networks
in AU and NZ
$$ 3
AUB AGENCIES
$ 4
NON-AUB
BROKERS
$ 4 NON-AUB AGENCIES
$ 5
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Our strategic initiatives are designed to maximise benefits from business placed through AUB Networks.

These include:

1. Increase AUB Broker placements utilising preferred Insurer arrangements, particularly on ExpressCover.

2. Utilise Austplacements to coordinate international and complex placements from AUB Brokers and Agencies, leveraging improved commercial arrangements

3. Grow share of AUB Broker premium placed with AUB Agencies by moving business currently placed with non-AUB Agencies.

4. Target non-AUB Brokers who currently place business with AUB Agencies in order to increase share of placements with AUB

5. Target non-AUB Brokers to join AUB nonequity networks with commercial benefits from improved placements.

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FY21 GUIDANCE AFFIRMED

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FY21 Underlying NPAT[1] by Half ($mns)

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63.0 - 65.0
3.4
2.9
26.0 – 28.0
Assumed premium rate rises for
AU in the range of 5% to 6%
30.7
1H21 Organic Premium Rates Acquisitions [2] FY21 Guidance
Feb 2021
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• AUB Group performed strongly in Q3. Given the historical significance of June as well as the current, unknown impact on the broader economy arising from the removal of JobKeeper allowances, we remain comfortable with our UNPAT outlook issued in February, representing UNPAT growth on FY20 of 17.9% to 21.7%

1. Underlying NPAT is used by management and the board to assess operational performance and excludes non-operational items, such as profits and losses on sale

6 of equity interests, fair value adjustments to carrying values on ownership changes, changes to estimates or payments of deferred contingent consideration amounts, impairment adjustments and amortisation of intangible assets

2. Acquisitions includes the net effect of acquisitions, bolt-ons and increased equity stakes in 2H21 vs 2H20. Excludes divestments

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Thank You

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NOTICE

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SUMMARY INFORMATION

This document has been prepared by AUB Group Limited (ABN 60 000 000 715) (AUB). It is a presentation of general background information about AUB’s activities current at the date of the presentation. It is information in a summary form and does not purport to be complete. It is to be read in conjunction with AUB’s other announcements released to ASX (available at www.asx.com.au). It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with professional advice, when deciding if an investment is appropriate.

TERMINOLOGY

This presentation uses Underlying NPAT to present a clear view of the underlying profit from operations. Underlying NPAT comprises consolidated profit after tax adjusted for value adjustments for the carrying value of associates, after tax profits on the sale of portfolios, interests in associates and controlled entities, contingent consideration adjustments, and income tax credits arising from the recognition of deferred tax assets. It is used consistently and without bias year on year for comparability. A reconciliation to statutory profit is provided in the appendix to this Presentation.

FORWARD LOOKING STATEMENTS

This document contains certain “forward-looking statements”. The words “anticipate”, “believe”, “expect”, “project”, “forecast”, “estimate”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan” and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Due care and attention has been used in the preparation of forecast information. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of AUB, that may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that the actual outcomes will not differ materially from these statements. Neither AUB nor any other person gives any representation, warranty, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this document will actually occur. Except as required by applicable law or the ASX Listing Rules, AUB disclaims any obligation or undertaking to publicly update any forward looking statements, whether as a result of new information or future events.

Statements about past performance are not necessarily indicative of future performance.

NOT AN OFFER

This document does not constitute an offer, invitation, solicitation, recommendation, advice or recommendation with respect to issue, purchase, or sale of any shares or other financial products in AUB. This document does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to any “US person” (as defined in Regulation S under the US Securities Act of 1933, as amended (Securities Act) (US Person)). Securities may not be offered or sold in the United States or to US Persons absent registration or an exemption from registration. AUB shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or jurisdiction of the United States.

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