DRIVER AUSTRALIA MASTER TRUST — Capital/Financing Update 2019

Jan 20, 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 January 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$9,700,000 Series 2016-4 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$9,700,000
2	Initial Series 2016-4 Class A Note Issue Date:	25 November 2016
3	Further Issue Date:	25 January 2019
4	First occurring Payment Date with respect to the	25 February 2019
	Further Notes of Series 2016-4 Class A Notes subject
	to these Final Terms:
5	Class A Series Number:	2016-4

Final Terms – Series 2016-4 Class A Notes

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6	Tranc	he Number:	23
7
	Aggref th	gate Nominal Amount of Further Notes subjectFil T	AU	D 9,700,000
	o e	e na erms:
8
	Aggre	gate Nominal Amount of Series 2016-4 Class A	AU	D 190,500,000
	NotesTerm	(including the Notes subject of these Final):
9
	Maximum Issuance Amount of Series 2016-4 Class ANotes:
10	Series 2016-4 Class A Notes Interest Rate:		1 month BBSW plus the Margin as set out inCondition 8.3
11	Series 2016-4 Class A Notes Factor(Condition 7.1(c))		The calculation of the Notes Factor isdescribed in the relevant definition.
12	Amount on which interest is to be paid on thePayment Date the date of these Final Terms(Condition 9.1):		AUD 180,800,000
13	Margin (Condition 8.3):		0.95 per cent_per annum_(as amended inaccordance withCondition 9.5).
14	Series 2016-4 Class A Revolving Period ExpirationDate:		Payment Date falling in June 2019 (butexcluding) (or as extended in accordance withCondition 9.5).
15	Series 2016-4 Class A Scheduled Repayment Date(Condition 9.4):		Payment Date falling in February 2023 (or asextended in accordance withCondition 9.5asa consequence of the extension of the Series2016-4 Class A Revolving Period ExpirationDate)
16	Series 2016-4 Class A Final Maturity Date(Condition 9.4):		Payment Date falling in August 2027 (or asextended in accordance withCondition 9.5asa consequence of the extension of the Series2016-4 Class A Revolving Period ExpirationDate)
17	Settlement information:		Not applicable.
18	ISIN Code		Not applicable.
19	Admission to trading and total expenses:		Application has been made for the Series2016-4 Class A Notes subject of these FinalTerms to be admitted to trading on theregulated market of the Australian SecuritiesExchange with effect from after the Initial IssueDate. The total expenses related to theadmissionto tradingwillamount toNil.

Final Terms – Series 2016-4 Class A Notes

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	20	Distribution account (for payment of Issue Price)	Bank:	Australia and NewZealand BankingGroup
			BSB:	012-003
			Account number:	836860289
			Account name:	Perpetual CorporateTrust Limited ATFDriver AustraliaMaster Trust –Distribution Account

Final Terms – Series 2016-4 Class A Notes

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