AUSTRALIAN UNITY LIMITED — Capital/Financing Update 2019

Sep 12, 2019

13 September 2019

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Completion of Successful Bookbuild – Series C Australian Unity Bonds – Tranche 1 and Series D Australian Unity Bonds – Tranche 1

Australian Unity Limited (Australian Unity) announced an offer of Series C Australian Unity Bonds – Tranche 1 and Series D Australian Unity Bonds – Tranche 1 (Bonds) on 9 September 2019 under an Offer Specific Prospectus and Base Prospectus dated as at that date (Offer).[1]

The Bookbuilds for each Series of Bonds to determine the Margin and demand from Institutional Investors and Syndicate Brokers for each Series were completed on 13 September 2019 and the results are as follows:

• the Margin for Series C Australian Unity Bonds – Tranche 1 was set at 2.00 percent per annum, which is at the lowest end of the expected range of 2.00 percent to 2.20 percent per annum, as detailed in the Offer Specific Prospectus;

• the Margin for Series D Australian Unity Bonds – Tranche 1 was set at 2.15 percent per annum, which is at the lowest end of the expected range of 2.15 percent to 2.35 percent per annum, as detailed in the Offer Specific Prospectus;

• Australian Unity allocated approximately $104 million of Series C Australian Unity Bonds – Tranche 1 and approximately $196 million of Series D Australian Unity Bonds – Tranche 1, being $300 million in total, on a firm basis to Syndicate Brokers and Institutional Investors. Those allocations include allocations in respect of the Reinvestment Offer; and

ASX code: AYU

Securities on Issue: AYUHB – 2,500,000

Issuer: Australian Unity Limited ACN 087 648 888

• the Offer size has been increased to $300 million, with the ability of Australian Unity to raise more or less.

The listing of the Bonds on the Australian Securities Exchange does not change Australian Unity’s structure as a mutual entity.

Enquiries: Australian Unity Registry 1300 554 474

Contact details: Australian Unity Limited 271 Spring Street Melbourne VIC 3000 Tel: 13 29 39

1 Capitalised terms used in this announcement and not otherwise defined have the meaning given to them in the Base Prospectus or Offer Specific Prospectus.

The listing of Australian Unity Securities on the ASX does not affect Australian Unity Limited’s status as a mutual organisation

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A replacement Offer Specific Prospectus including the Margins for each Series of Bonds and Application Forms will be lodged with ASIC on 17 September 2019. Full details on the Offer, including who is eligible to apply, are (or will be) contained in the Base Prospectus and the Offer Specific Prospectus (Offer Documents). Before deciding whether to apply for Bonds investors should read the Offer Documents in full and seek advice from a professional adviser.

A link to the Offer Documents can be accessed online at . www.australianunity.com.au/bonds Alternatively, please call the Australian Unity Bonds Information Line on 1800 992 793 (within Australia) or +61 1800 992 793 (outside Australia) Monday to Friday 8:30 am to 5:30 pm during the Offer Period to request a hard-copy of the documents.

Melinda Honig

General Counsel and Company Secretary

For more information contact:

Australian Unity Bonds Information Line 1800 992 793 (within Australia) +61 1800 992 793 (outside Australia) Monday to Friday 8:30am to 5:30pm

For any media enquiries please contact:

Michael Moore

General Manager – Public Affairs and Communications (0427 382 152)

ASX code: AYU

Securities on Issue: AYUHB – 2,500,000

Issuer: Australian Unity Limited ACN 087 648 888

Enquiries: Australian Unity Registry 1300 554 474

Contact details: Australian Unity Limited 271 Spring Street Melbourne VIC 3000 Tel: 13 29 39

The listing of Australian Unity Securities on the ASX does not affect Australian Unity Limited’s status as a mutual organisation

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Key dates for the Offer

Record date for determining Eligible Members	16 August 2019
Record date for determining Eligible AYUHBHolders (7:00pm)for the Reinvestment Offer	5 September 2019
Lodgement of Offer Specific Prospectus with ASIC	9 September 2019
Bookbuild to determine Margins andAllocations to Syndicate Brokers andInstitutional Investors	16 September 2019
Opening Date for Offer and lodgement ofreplacement Offer Specific Prospectus withASIC	17 September 2019
Closing Date for Member Offer,Reinvestment Offer and Broker Firm Offer	8 October 2019
Issue Date	15 October 2019
Holding statements despatched by theRegistrar	16 October 2019
Bonds commence trading on ASX on normalsettlement basis	18 October 2019

Key dates for Series C Australian Unity Bonds – Tranche 1

ASX code: AYU

Securities on Issue: AYUHB – 2,500,000

Issuer: Australian Unity Limited ACN 087 648 888

First interest payment date	14 January 2020
Tenor	~5 years
Maturity Date	15 December 2024

Enquiries: Australian Unity Registry 1300 554 474

Contact details: Australian Unity Limited 271 Spring Street Melbourne VIC 3000 Tel: 13 29 39

The listing of Australian Unity Securities on the ASX does not affect Australian Unity Limited’s status as a mutual organisation

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Key dates for Series D Australian Unity Bonds – Tranche 1

First interest payment date	14 January 2020
Tenor	~7 years
Maturity Date	15 December 2026

These dates for the Offer are indicative only and may change without notice.

Important information

This announcement is not, and should not be considered to be, a recommendation to apply for Bonds, financial product advice or an offer of, or invitation to, apply for Bonds. The Offer is made in the Offer Documents. The information in this announcement is general only and does not take into account your investment objectives, financial situation or particular needs. In deciding whether to apply for Bonds, you should read the Offer Documents, including the replacement Offer Specific Prospectus which will include the Margin for each series of Bonds and the application form, carefully and their entirety and seek advice from your financial or other professional adviser. An investment in Bonds is subject to investment risk, including possible loss of income and principal invested and risks in relation to Australian Unity. No member of the Australian Unity Group guarantees the value or performance of Bonds, the repayment of your investment or any particular rate of return. The Bonds are unsecured notes for the purposes of section 283BH of the Corporations Act.

ASX code: AYU

Securities on Issue: AYUHB – 2,500,000

Issuer: Australian Unity Limited ACN 087 648 888

Enquiries: Australian Unity Registry 1300 554 474

Contact details: Australian Unity Limited 271 Spring Street Melbourne VIC 3000 Tel: 13 29 39

The listing of Australian Unity Securities on the ASX does not affect Australian Unity Limited’s status as a mutual organisation

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