DRIVER AUSTRALIA MASTER TRUST — Capital/Financing Update 2019

Sep 24, 2019

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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 September 2019

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$4,300,000 Series 2016-2 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.

Solely for the purpose of each manufacturer’s product approval process, the target market assessment in respect of the Class A Notes has led to the conclusion that: (i) the target market for the Class A 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 A Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Class A 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 A Notes (by either adopting or refining the manufacturers’ target market assessment) and determining appropriate distribution channels.

1	Issue Price:	A$4,300,000
2	Initial Series 2016-2 Class A Note Issue Date:	25 November 2016
3	Further Issue Date:	25 September 2019
4	First occurring Payment Date with respect to theFurther Notes of Series 2016-2 Class A Notes subjectto these Final Terms:	25 October 2019
5	Class A Series Number:	2016-2
6	Tranche Number:	31

Final Terms – Series 2016-2 Class A Notes

1

 King & Wood Mallesons 43821826_2

7	7	Aggregate Nominal Amount of Further Notes ofsubject of these Final Terms:	AUD 4,300,000	AUD 4,300,000	AUD 4,300,000
8		Aggregate Nominal Amount of Series 2016-2 Class A	AUD 89,000,000
		Notes (including the Notes subject of these FinalTerms):
9
		Maximum Issuance Amount of Series 2016-2 Class ANotes:	AU	D 100,000,000
1	0	Series 2016-2 Class A Notes Interest Rate:	1 mCon	onth BBSW plus the Margin as set outdition 8.3	in
1	1	Series 2016-2 Class A Notes Factor(Condition 7.1(c))	Thedes	calculation of the Notes Factor iscribed in the relevant definition.
1	2	Amount on which interest is to be paid on thePayment Date the date of these Final Terms(Condition 9.1):	AU	D 84,700,000
1	3	Margin (Condition 8.3):	1.00acc	per cent.per annum(as amended inordance withCondition 9.5).
1	4	Series 2016-2 Class A Revolving Period ExpirationDate:	PayinclCon	ment Date falling in June 2020 (anduding) (or as extended in accordancedition 9.5).	with
1	5	Series 2016-2 Class A Scheduled Repayment Date(Condition 9.4):	Payextea co201Dat	ment Date falling in February 2024 (ornded in accordance withCondition 9nsequence of the extension of the Se	as.5asrieson
				6-2 Class A Revolving Period Expirati
				)
1	6	Series 2016-2 Class A Final Maturity Date(Condition 9.4):	Payextea co201Dat	ment Date falling in August 2028 (or anded in accordance withCondition 9nsequence of the extension of the Se6-2 Class A Revolving Period Expiratie)	s.5asrieson
1	7	Settlement information:	Deli	very against payment.
1	8	ISIN Code	AU3
				FN0036612
19	9	Admission to trading and total expenses:	App201Terreg	lication has been made for the Series6-2 Class A Notes subject of these Finms to be admitted to trading on theulated market of the Australian Securit

Final Terms – Series 2016-2 Class A Notes

2

 King & Wood Mallesons 43821826_2