AUSTRALIAN UNITY LIMITED — Capital/Financing Update 2021

Nov 2, 2021

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ASX Announcement

3 November 2021

Australian Unity Limited announces completion of its mutual capital instruments follow-on offer raising $230 million

Australian Unity Limited (Australian Unity) has successfully completed its follow-on offer of Australian Unity mutual capital instruments (Australian Unity MCIs), raising a total of $230,102,000 (the Offer). The Offer has resulted in Australian Unity issuing 2,234,000 Australian Unity MCIs at $103 each.

ASX code: AYU

Securities on Issue: AYUPA – 3,434,000 AYUHC – 1,150,192 AYUHD – 2,070,000

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

The Offer forms part of Australian Unity’s ongoing capital management strategy, with the proceeds of the Offer to be used for a range of opportunities across the Australian Unity Group. These include pursuing near-term growth opportunities within individual businesses as well as investing capital across the Australian Unity Group where third-party funding has been historically utilised. A portion of the proceeds will be used to repay debt facilities that were utilised for a number of recent strategic investments in social infrastructure. The use of proceeds may also extend to merger and acquisition opportunities across the Australian Unity Group operating platforms—including to increase investment in social infrastructure and to help support business consolidations in important sectors in which we operate.

Trading on ASX

Australian Unity MCIs issued under the Offer were issued today, 3 November 2021, and are expected to begin trading on a normal settlement basis on the ASX on 8 November 2021. Australian Unity MCIs issued under the Offer will be fully fungible with existing Australian Unity MCIs currently quoted on ASX under the ASX code AYUPA.

Allocation policy

All valid applications received under the Member Offer and Securityholder Offer were accepted in full.

Allocations to Syndicate Brokers and Institutional Investors were determined following the bookbuild completed on 14 October 2021.

Member Offer and Securityholder Offer applicants can confirm their allocations of Australian Unity MCIs by calling the Australian Unity MCI

Offer Information Line (details below). Broker Firm applicants can confirm their allocations with their Syndicate Broker.

Holding statements

CHESS confirmations and issuer sponsored holding statements stating the number of Australian Unity MCIs issued to each successful applicant will be despatched on 4 November 2021.

All successful applicants are responsible for determining and confirming the number of Australian Unity MCIs allocated to them prior to selling any Australian Unity MCIs. Applicants who sell Australian Unity MCIs before receiving their CHESS confirmation or issuer sponsored holding statement do so at their own risk.

Dividend Rate

The Dividend Rate is 5.00 per cent per annum. Given Australian Unity MCIs issued under the Offer were offered at a higher price ($103) than the Face Value of $100, the running yield at that Issue Price (assuming discretionary Dividends are paid in full) will be 4.85 per cent per annum or 6.93 per cent per annum on a gross basis.[1]

Capitalised terms used in this announcement and not otherwise defined have the meaning given to them in the prospectus dated 11 October 2021 as supplemented by the supplementary prospectus dated 15 October 2021.

-end-

This announcement has been authorised for distribution to the ASX by: Melinda Honig (Group Executive – Governance)

T: + 61 3 8682 6819

If securityholders or other interested parties require further information please contact:

Michael Moore

General Manager – Public Affairs & Communications

T: 1300 408 776

E: media@australianunity.com.au

1 This is based upon Australian Unity’s current corporate tax rate of 30 per cent and assumes that the Dividends paid on Australian Unity MCIs are fully franked and that investors are able to fully benefit from attaching imputation credits. This gross rate will change if Australian Unity’s corporate tax rate changes in the future.