CHALLENGER LIMITED — Board/Management Information 2021

Jan 19, 2021

Challenger Limited

20 January 2021

APPOINTMENT TO CHALLENGER BOARD

Challenger Limited (ASX: CGF) Chairman Peter Polson today announced the appointment of Dr Heather Smith as an independent Non-Executive Director of both Challenger Limited and Challenger Life Company Limited, effective immediately.

Dr Smith has over 20 years’ experience in government and most recently held the position of Secretary of the Federal Department of Industry, Innovation and Science. Prior to that she was Secretary of the Department of Communication and the Arts and Deputy Secretary of the Department of Prime Minister and Cabinet.

Mr Polson said: “I am very pleased to welcome Heather to the Board. She has performed at the highest level in support of the Australian Government and Prime Ministers on economic reform, innovation and technological change, foreign policy, national security and intelligence matters. She brings significant expertise and experience to the Board.”

Dr Smith will offer herself for election at Challenger’s Annual General Meeting on 28 October 2021.

This release has been authorised by Challenger’s Continuous Disclosure Committee.

ENDS

About Challenger

Challenger Limited (Challenger) is an investment management firm focusing on providing customers with financial security for retirement.

Challenger operates two core investment businesses, a fiduciary Funds Management division and an APRA-regulated Life division. Challenger Life Company Limited is Australia's largest provider of annuities.

For more information contact

Stuart Kingham Sean Aylmer Head of Investor Relations Head of External Communications +61 401 139 067 +61 409 817 039

Mark Chen Senior Investor Relations Manager +61 423 823 209

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Challenger Limited A.B.N 85 106 842 371. Level 2, 5 Martin Place, Sydney NSW 2000.