DRIVER AUSTRALIA MASTER TRUST — Capital/Financing Update 2016

Aug 15, 2016

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An investment in the Notes that are the subject of these Final Terms is only suitable for financially sophisticated investors who are capable of evaluating the merits and risks of such investment and who have sufficient resources to be able to bear any losses (including the total loss of the invested amount) which may result from such investment.

Final Terms

25 July 2016

PERPETUAL CORPORATE TRUST LIMITED in its capacity as trustee of the Driver Australia Master Trust

( incorporated with limited liability in Australia with ACN 000 341 533 )

as Issuer

for the issuance of the

(to be consolidated and form a single Series with the AUD 105,400,000 Series 2016-1 Class A Notes already outstanding) .

A$146,800,000 Series 2016-1 Class A Notes

issued in registered form pursuant to the

A$3,000,000,000 Programme for the Issuance of Notes

These Final Terms are issued to supplement the information in relation to the issue of Class A Notes by Perpetual Corporate Trust Limited in its capacity as trustee of the Driver Australia Master Trust under the A$3,000,000,000 Programme for the issuance of Notes (the " Programme ").

Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Offering Circular. Capitalised terms not otherwise defined herein shall have the meaning specified in the Conditions of the Class A Notes. All references in these Final Terms to numbered Conditions are to be read as reference to the respective Conditions of the Class A Notes.

1.	Issue Price:	A$41,400,000
2.	Initial Issue Date:	29 June 2016
3.	Class A Series Number:	2016-1
	Tranche Number:	2
4.	Aggregate Nominal Amount of Further Notes of Series 2016-1 Class A Notes:	AUD 41,400,000
5.	Aggregate Nominal Amount of Series 2016-1 Class A Notes (including the Notes subject of these Final Terms):	AUD 146,800,000
6.	Maximum Issuance Amount of Series 2016-1 Class A Notes:	AUD 500,000,000
7.	Series 2016-1 Class A Notes Interest Rate:	1 month BBSW plus the Margin as set out in

Final Terms – Series 2016-1 Class A Notes

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			Condition 8.3	Condition 8.3	Condition 8.3
8.			The calculation of the Notes Factor is described in the relevant definition.
	Series 2016-1 (Condition 7.1	Class A Notes Factor (c))	The calculation described in th	of the Notes Factor is e relevant definition.
9.
	Amount on whi Payment Date	ch interest is to be paid on the first (Condition 9.1):	AUD 105,400,	000
10.	Margin (Condition 8.3):		1.60 per cent.per annum(as amended in accordance withCondition 9.5).
11.	First occurring Payment Date with respect to the Series 2016-1 Class A Notes:		25 July 2016
12.	Series 2016-1 Class A Revolving Period Expiration Date:		Payment Date falling in June 2017 (but excluding) (or as extended in accordance with Condition 9.5).
			Condition 9.5)	.
13.					1 (or as n 9.5as Series iration
	Series 2016-1 (Condition 9.4	Class A Scheduled Repayment Date ):	Payment Date extended in ac a conseuenc	falling in February 202 cordance withConditio of the extension of th
			q 2016-1 Class A Date)	Revolving Period Exp
14.	Series 2016-1 Class A Final Maturity Date (Condition 9.4):		Payment Date falling in August 2025 (or as extended in accordance withCondition 9.5as a consequence of the extension of the Series 2016-1 Class A Revolving Period Expiration Date)
15.	Settlement information:		Not applicable.
16.	- ISIN Code		Not applicable.
17.	Admission to trading and total expenses:		Application has been made for the Series 2016-1 Class A Notes subject of these Final Terms to be admitted to trading on the regulated market of the Australian Securities Exchange with effect from after the Initial Issue Date. The total expenses related to the admission to trading will amount to Nil.

In case of Further Notes being the subject to these Final Terms: please insert updated portfolio data corresponding to the data set out in the section "DESCRIPTION OF PORTFOLIO – The Purchased Receivables under the Receivables Purchase Agreement" .

These Final Terms comprise the final terms required to list and have admitted to trading the issue of Series 20161 Class A Notes described herein (as from 25 July 2016).

Perpetual Corporate Trust Limited

in its capacity as trustee of the Driver Australia Master Trust

Signature:

---

Name: ___ Title: ___

Final Terms – Series 2016-1 Class A Notes

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