AUSTRALIAN UNITY LIMITED — Capital/Financing Update 2023

Nov 6, 2023

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ASX Announcement

7 November 2023

Australian Unity Bonds Series E – Priority Offer letter

Australian Unity Limited announced an offer of a new series of simple corporate bonds: Australian Unity Bonds Series E – Tranche 1 on 30 October 2023 (the Offer ).

A copy of the Priority Offer letter follows, which will be sent to select members of Australian Unity as at 20 September 2023 and select securityholders of Australian Unity as at 25 October 2023, with an Australian address.

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This announcement has been authorised for distribution to the ASX by the board.

For more information contact:

Australian Unity Bonds Information Line 1300 135 403 (within Australia) Monday to Friday 8:30am to 5:30pm

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 entity

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8 November 2023 Priority Offer Reference Number: IID: SRN/HIN:

[insert name] [address 1] [address 2]

Australian Unity Limited ABN 23 087 648 888

271 Spring Street MELBOURNE VIC 3000

T 13 29 39 Australia Wide F 03 8682 5555 W australianunity.com.au

Dear [insert name]

Invitation to participate in the Australian Unity Bonds Series E Priority Offer

On 30 October 2023, Australian Unity Limited ( Australian Unity ) announced an offer of new simple corporate bonds - referred to as Australian Unity Bonds Series E ( Bonds ). The Bonds are being offered under a Base Prospectus and Offer Specific Prospectus (together, the Offer Documents ) which are available at www.australianunity.com.au/bonds.

As a valued member or securityholder of Australian Unity, I am writing to inform you of a potential opportunity to invest in the Bonds through a priority offer ( Priority Offer ).

Key features of the Bonds

The Bonds are simple corporate bonds that provide quarterly interest payments over an approximate term of 5 years. Key features of the Bonds include:

• Each Bond has a Face Value of $100.

• The Bonds are unsecured and unsubordinated debt securities.

• The Interest Rate will be the floating Market Rate plus a fixed Margin of 2.50 percent per annum.

• On 15 December 2028 ( Maturity Date) , Holders of the Bonds will receive the Face Value plus the final payment of Interest unless the Bonds are redeemed early in the circumstances set out in the Offer Documents.

• The Bonds are expected to be quoted on ASX and trade under the code “AYUHE”.

Full details of the Bonds are contained in the Offer Documents.

Target Market for the Bonds

Under the ‘design and distribution’ laws, Australian Unity was required to make a target market determination in respect of the Bonds ( TMD ). The TMD describes, among other things, the class of Retail Investors that comprises the target market for the Bonds ( Target Market ). The TMD is available at www.australianunity.com.au/bonds.

As part of the steps that Australian Unity is taking to ensure that the Bonds are reasonably likely to be distributed to investors who are within the Target Market, if you wish to apply under the Priority Offer, you must complete an online pre-application assessment to help Australian Unity determine if you are eligible to participate. If you do not complete the preapplication assessment satisfactorily, your application will not be accepted.

Key details on the Priority Offer

The Priority Offer is an opportunity for Eligible Members and Eligible Securityholders who have a registered address in Australia, to invest in the Bonds. The Priority Offer opened on 7 November 2023 and is expected to close on 17 November 2023 ( Offer Period ).

You are an Eligible Member if you:

• were a financial member of Australian Unity within the meaning of the Australian Unity Constitution (including Australian Unity Mutual Capital Instrument holders) as at 20 September 2023; and

• are a Wholesale Investor, or a Retail Investor (as defined in the Offer Documents) and you are in the Target Market.

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You are an Eligible Securityholder if you:

• were a registered holder of Australian Unity Bonds Series C ( AYUHC ) or Australian Unity Bonds Series D ( AYUHD ) as at 7pm on 25 October 2023; and

• are a Wholesale Investor, or a Retail Investor (as defined in the Offer Documents) and you are in the Target Market.

If you are a member or securityholder of Australian Unity, your rights and benefits as a member or securityholder, including any voting entitlements, are not affected in any way by your decision to participate or not participate in the Priority Offer.

How to apply during the Offer Period

Details on how to apply under the Priority Offer are set out in the Offer Documents.

If you wish to apply, you must:

• complete the pre-application assessment available at www.australianunity.com.au/bonds. If you do not complete the pre-application assessment satisfactorily, your application will not be accepted;

• apply using the electronic application form available at www.australianunity.com.au/bonds. To complete the application form, you will need your reference number included above. You will also be required to make your subscription payment via BPAY®; and

• applications under the Priority Offer must be for a minimum of 20 Bonds, which is a minimum investment of $2,000 and for no more than the Maximum Application Value, being $50,000 (unless otherwise approved by Australian Unity).

Before deciding whether to apply for the Bonds under the Priority Offer, you should read the Offer Documents in full and speak to a qualified financial adviser to assist you to determine if the Bonds are suitable for you.

Further information

For more information about the Priority Offer, visit www.australianunity.com.au/bonds or call the Australian Unity Bonds Information Line on 1300 135 403 (Monday to Friday – 8.30am to 5.30pm).

Finally, I would like to take this opportunity to thank you for your support of Australian Unity.

Yours sincerely

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Lisa Chung Chair Australian Unity Limited

IMPORTANT INFORMATION

Australian Unity Limited is currently offering Bonds as outlined in the Offer Documents. This communication is not a recommendation, financial advice or an offer to apply for the Bonds. The offer is made in the Offer Documents. The information provided here is general only and does not consider your specific investment objectives, financial situation or individual needs.

Investing in Bonds carries inherent risks, including potential loss of income and principal invested, as well as risks related to Australian Unity. No member of the Australian Unity Group guarantees the value, performance, or repayment of your investment, nor a specific rate of return. The Bonds are unsecured notes for the purposes of section 283BH of the Corporations Act.

Capitalised terms used but not defined in this communication have the meaning given to them in the Offer Documents.

You have received this correspondence as your details are contained on an Australian Unity information data base. If you no longer wish to receive promotional correspondence, please contact the Australian Unity Bonds Information Line on 1300 135 403.

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

This communication is intended for Australian publication only and should not be distributed or released in the United States or in any other jurisdiction where it would be unlawful to do so. It does not constitute an offer, invitation or recommendation to subscribe for or purchase any security or financial product. In particular, it does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The Bonds are not and will not be registered under the U.S. Securities Act of 1933, as amended (the U.S. Securities Act) or the securities laws of any state or jurisdiction of the United States. Accordingly, the Bonds may not be offered or sold, directly or indirectly, to persons in the United States unless they are registered under the U.S. Securities Act (which Australian Unity has no intention or obligation to do) or are offered and sold under an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and any other applicable U.S. state securities laws.

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