AUSTRALIAN UNITY LIMITED — Capital/Financing Update 2023

Oct 29, 2023

Proposed issue of securities

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Announcement Summary

Entity name

AUSTRALIAN UNITY LIMITED

Announcement Type

New announcement

Date of this announcement

30/10/2023

The Proposed issue is:

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A non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)

Total number of +securities proposed to be issued for a non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Australian Unity Simple Corporate Bonds Series E	1800000
confirmed

Closing date for receipt of acceptances

17/11/2023

Proposed +issue date

28/11/2023

Refer to next page for full details of the announcement

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Part 1 - Entity and announcement details

1.1 Name of +Entity

AUSTRALIAN UNITY LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ACN 087648888

1.3 ASX issuer code

AYU

1.4 The announcement is

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New announcement

1.5 Date of this announcement

30/10/2023

1.6 The Proposed issue is:

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A non-+pro rata offer of +securities under a +disclosure document or +PDS

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Part 5 - Details of proposed non-pro rata offer under a disclosure document or PDS

Part 5A - Conditions

5A.1 Do any external approvals need to be obtained or other conditions satisfied before the non-pro rata offer of +securities under a +disclosure document or + PDS can proceed on an unconditional basis? Yes

5A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? Other (please specify in 7/11/2023 comment section) Actual Yes

Comments

Subject to a minimum issue amount of fifty million dollars.

Part 5B - Offer details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? Yes No ASX +security code +Security description New class-code to be confirmed Australian Unity Simple Corporate Bonds Series E

+Security type

Non-convertible +debt securities

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The number of +securities to be offered under the +disclosure document or +PDS 1,800,000

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? Yes Describe the minimum subscription condition Minimum subscription condition of $50m Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? Yes Is the minimum acceptance unit based or dollar based? Unit based Please enter the minimum acceptance value 20

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? No

Offer price details

Has the offer price been determined? Yes In what currency will the offer be What is the offer price per +security? made? AUD 100.00000 AUD - Australian Dollar Oversubscription & Scale back details Will the entity be entitled to accept over-subscriptions? Yes Provide details of the number or value of over-subscriptions that the entity may accept The company has the ability to accept over-subscriptions in its absolute discretion. It is targeting an offer size of $180m, with the ability to raise more or less (subject to the minimum subscription condition of $50m). Will a scale back be applied if the offer is over-subscribed? Yes Describe the scale back arrangements Details are included in section 4.10 of the offer specific prospectus issued today by the company in respect of the bonds.

Will all the +securities issued in this class rank equally in all respects from their issue date?

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Yes

Non-convertible +debt securities details

These securities are: Type of security Simple Corporate bond +Security currency Face value AUD - Australian Dollar AUD 100.0000 Interest rate type Floating rate Frequency of coupon/interest First interest payment date payments per year Quarterly

14/1/2024

Interest rate per annum Is the interest rate per annum estimated at this time? 6.81000 % Yes

If the interest rate per annum is estimated, then what is the date for this information to be announced to the market (if known) 3/11/2023

Does the interest rate include a reference rate, base rate or market rate (e.g. BBSW or CPI)? Yes

What is the reference rate, base rate or market rate?

BBSW

s128F of the Income Tax Assessment Act status applicable to the +security

s128F exempt

Is the +security perpetual (ie. no Maturity date maturity date)? 15/12/2028 No

Select other features applicable to the +security None of the above

Is there a first trigger date on which a right of conversion, redemption, call or put can be exercised (whichever is first)? No

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Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

www.australianunity.com.au/

bonds

Part 5C - Timetable

5C.1 Lodgement date of +disclosure document or +PDS with ASIC

30/10/2023

5C.2 Date when +disclosure document or +PDS and acceptance forms will be made available to investors

7/11/2023

5C.3 Offer open date

7/11/2023

5C.4 Closing date for receipt of acceptances

17/11/2023

5C.6 Proposed +issue date

28/11/2023

Part 5E - Fees and expenses

5E.1 Will there be a lead manager or broker to the proposed offer? Yes

5E.1a Who is the lead manager/broker?

The Joint Lead Managers are Acacia Partners Pty Ltd, ANZ Securities Limited, Commonwealth Bank of Australia, E&P Corporate Advisory Pty Limited, National Australia Bank Limited, Morgans Financial Limited, Westpac Institutional Bank (a division of Westpac Banking Corporation). Acacia Partners Pty Ltd is also acting as the Arranger.

5E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

Acacia Partners Pty Ltd will be paid fees of 0.20% (excluding GST) of the gross proceeds of the Offer in its capacity as the arranger for the offer.

The fees the company is required to pay the Joint Lead Managers in connection with the Offer are referable to the amount of bonds allocated under the Broker Firm Offer and Institutional Offer. On the basis $130m of bonds are allocated under the Broker Firm Offer and $30m of Bonds are allocated under the Institutional Offer, the company will pay the Joint Lead Managers an aggregate fee of $2.18m (excluding GST).

5E.2 Is the proposed offer to be underwritten?

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No

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5E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

5E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Typical costs associated with a capital raising process, including legal, accounting, registry and associated administrative costs.

Part 5F - Further Information

5F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

For additional working capital

5F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

5F.2 Please explain the entity's allocation policy for the offer, including whether or not acceptances from existing +security holders will be given priority

See section 4.10 of the offer specific prospectus issued today by the company in respect of the bonds.

5F.3 URL on the entity's website where investors can download the +disclosure document or +PDS

www.australianunity.com.au/bonds

5F.4 Any other information the entity wishes to provide about the proposed offer

N/A

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