DRIVER AUSTRALIA MASTER TRUST — Capital/Financing Update 2018

Dec 17, 2018

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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

27 December 2018

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

A$6,610,000 Series 2018-1 Class B 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 B 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 B Notes. All references in these Final Terms to numbered Conditions are to be read as reference to the respective Conditions of the Class B Notes.

Solely for the purpose of each manufacturer’s product approval process, the target market assessment in respect of the Class B Notes has led to the conclusion that: (i) the target market for the Class B Notes is eligible counterparties and professional clients only, each as defined in Directive 2014/65/EU (as amended, " MiFID II "); and (ii) all channels for distribution of the Class B Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Class B Notes (a " distributor ") should take into consideration the manufacturers’ target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Class B Notes (by either adopting or refining the manufacturers’ target market assessment) and determining appropriate distribution channels.

1	Issue Price:	A$6,610,000
2	Initial Series 2018-1 Class B Note Issue Date:	26 November 2018
3	Further Issue Date:	27 December 2018
4	First occurring Payment Date with respect to the	25 January 2019
	Further Notes of Series 2018-1 Class B Notes subject
	to these Final Terms:
5	Class B Series Number:	2018-1

Final Terms – Series 2018-1 Class B Notes

1

 King & Wood Mallesons 39955050_3

6		Tranche Number:		2
7		Aggregate Nominal Amount of Further Notes subjectof these Final Terms:		AUD6,610,000
8		Aggregate Nominal Am	ount of Series 2018-1 Class B	AUD7,970,000
		Notes (including the NoT	tes subject of these Final
		erms):
9
		Maximum Issuance AmN	ount of Series 2018-1 Class B	AUD50,000,000
		otes:
10					out in
		Series 2018-1 Class B	Notes Interest Rate:	1 month BBSW plus the Margin as set
				Condition 8.3
11
		Series 2018-1 Class B(Condition 7.1(c))	Notes Factor	The calculation of the Notes Factor isdescribed in the relevant definition.
12		Amount on which interePayment Date the date(Condition 9.1):	st is to be paid on theof these Final Terms	AUD1,360,000
13		Margin (Condition 8.3)	:	1.50 per cent_per annum_(as amendedaccordance withCondition 9.5).	in
14		Series 2018-1 Class BDate:	Revolving Period Expiration	Payment Date falling in June 2019 (buexcluding) (or as extended in accordaCondition 9.5).	tnce with
15		Series 2018-1 Class B(Condition 9.4):	Scheduled Repayment Date	Payment Date falling in February 202extended in accordance withConditioa consequence of the extension of the2018-1 Class B Revolving Period ExpDate)	3 (or asn 9.5asSeriesiration
16		Series 2018-1 Class B(Condition 9.4):	Final Maturity Date	Payment Date falling in August 2027 (extended in accordance withConditioa consequence of the extension of the2018-1 Class B Revolving Period ExpDate)	or asn 9.5asSeriesiration
17
		Settlement information:		Delivery free of payment
18		ISIN Code		AU3FN0045787
19		Admission to trading an	d total expenses:	Application has been made for the Se2018-1 Class B Notes subject of these	riesFinal uritieser 2018.ission to
				Terms to be admitted to trading on theregulated market of the Australian Se
				Exchange with effect from 26 Novemb
				The total expenses related to the admtradingwillamounttoNil
				.

Final Terms – Series 2018-1 Class B Notes

2

 King & Wood Mallesons 39955050_3