Perpetual Limited — Capital/Financing Update 2011

Sep 25, 2011

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Perpetual Limited ABN 86 000 431 827

26 September 2011

Level 12 Angel Place 123 Pitt Street Sydney GPO Box 4172 Sydney NSW 2001 Australia DX 365 Sydney Telephone 02 9229 9000 Facsimile 02 8256 1461

The Companies Office ASX Limited Level 6 Exchange Centre 20 Bridge St SYDNEY NSW 2000

Dear Sir/Madam

Perpetual Limited (Perpetual) – Off-Market Tender Buy-Back (Buy-Back)

Please note that Perpetual’s Buy-Back tender period opens today. Shareholders were mailed a booklet in relation to the Buy-Back on 9 September 2011 and should refer to their booklet for instructions as to how to tender their shares.

Perpetual is subject to regular reporting obligations and in this regard Perpetual’s Annual Report and Notice of Annual General Meeting will be mailed to shareholders on 30 September 2011. Perpetual expects to announce its funds under management as at 30 September 2011 to the ASX on or about 10 October 2011.

We also advise that as foreshadowed in Perpetual’s Analyst Briefing on 26 August 2011 relating to the financial year ended 30 June 2011, Perpetual is in advanced contract negotiations with a third party for the supply by that party to Perpetual of outsourced administration services for Perpetual's Private Wealth business. The contract may be executed within the Buy-Back tender period.

Yours sincerely

Joanne Hawkins Company Secretary

Phone: 02 9229 9000 E-mail: joanne.hawkins@perpetual.com.au

D11/5554