AUB GROUP LIMITED — M&A Activity 2019

Dec 8, 2019

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9 December 2019

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

FOR RELEASE TO THE MARKET

Dear Sir / Madam

Termination of Conditional Sale Agreement to Acquire Coverforce

AUB Group ( ASX:AUB ) has today announced the termination of its conditional agreement with Pemba Capital Partners ( Pemba Capital ) to acquire Pemba Capital’s interest in Coverforce ( Conditional Sale Agreement ).

As previously announced, the Conditional Sale Agreement was conditional upon, among other things, delivery of due diligence materials to AUB as at the date agreed between AUB and Pemba Capital.

Delivery of due diligence materials to AUB has not occurred and AUB has not waived its right to due diligence. In consequence, and as the parties have been unable to reach agreement on an amended date for delivery of due diligence materials, the Conditional Sale Agreement has terminated.

AUB will continue to apply its disciplined approach to its M&A strategy to acquire businesses that accelerate scale and growth, leverage and expand its expertise in key insurance risk areas and market segments, whilst adding to its core capabilities.

Yours faithfully

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Freya Smith Group General Counsel & Company Secretary

For further information, contact Freya Smith

Tel: +61 2 9935 2224 freyas@aubgroup.com.au

ENDS

About AUB Group

AUB Group Limited is Australasia’s largest equity-based insurance broker network driving approximately A$3.2 billion GWP across its network of 93 businesses, servicing more than 550,000 clients and over one million policies across more than 600 locations.

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