SUNCORP GROUP LIMITED — Board/Management Information 2017

Oct 11, 2017

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ASX announcement

12 October 2017

Suncorp streamlines senior team to fast track strategy

Suncorp CEO & Managing Director, Michael Cameron has announced the Group is streamlining its Senior Leadership Team to fast track delivery of the strategy.

The Customer Platforms, Customer Experience and Strategic Innovation functions have been combined into a single function titled Customer Marketplace. Pip Marlow is appointed as the CEO of this new function, which brings together all customer-facing and innovation teams, harnessing synergies and enabling faster execution of the strategy. Ms Marlow has strong international experience and a solid track record of delivering results.

Gary Dransfield is appointed as CEO Insurance. Mr Dransfield brings significant insurance experience across Australia and New Zealand, and is well placed to maintain momentum, and drive growth and profitability.

Mark Reinke will move into an advisory role reporting to Mr Cameron. In this role, Mr Reinke will focus on activation of the Marketplace strategy incorporating global insights and learnings from other platform organisations.

Chief Financial Officer Steve Johnston, who leads the Finance & Advice function, will also assume responsibility for Legal and Company Secretariat.

After almost 10 years with Suncorp, most recently as CEO Insurance, Anthony Day has decided this is a good time for him to leave the company.

Mr Cameron said, “I’d like to thank Anthony for his significant contribution to the company over many years.

“As a result of the changes, Chief Legal Officer Kate Olgers has also decided to leave the company during October. I would like to thank Kate for her commitment and the positive role she has played.

“The changes are effective immediately and I wish both Anthony and Kate well for the future.

“Over the past 12 months, we have embedded a new strategy and operating model. A more streamlined senior team will deliver the strategy more efficiently and effectively.

“We have brought together our customer-facing and innovation teams to fast track the delivery of our market commitments, and to create more value for our customers.”

Ends

For more information contact:

Brett Zarb - 0417 256 563 Media Nadia Farha - 0408 535 993 Analysts/Investors Andrew Dempster - 0497 799 960

Suncorp Group Ltd - ABN 66 145 290 124 – Level 28, 266 George Street, Brisbane Qld 4000 1 suncorpgroup.com.au

Background

Pip Marlow

Pip Marlow joined Suncorp in December 2016 as Chief Executive Officer Strategic Innovation. She is a highlyrecognised leader in her field, brings a wealth of international experience and has a strong track record of delivery, including her six-year tenure as Managing Director of Microsoft Australia.

At Suncorp, Pip has been responsible for Suncorp's strategic role in market disruption, and identifying, establishing and cultivating new external marketplace partners to meet the needs of customers.

Pip has more than 20 years' experience in the IT industry. One of her first roles was at Samsung Information Systems, where she was responsible for building the company's Semi-Conductor distribution business. Before joining Microsoft in 1995, she was part of the team at Agate Technology, which became one of Australia's largest storage distributors.

Gary Dransfield

Gary Dransfield joined Suncorp in August 2009 and was appointed Chief Executive Officer Customer Platforms in March 2016. He previously held the positions of Executive General Manager for Personal Insurance Retail Distribution, before being appointed the Chief Executive Officer Vero New Zealand in April 2011 and later the Chief Executive Officer Personal Insurance in October 2015.

Prior to joining Suncorp, Gary worked for 25 years in the retail financial services industry holding positions in operations, strategy and marketing at companies such as St George Bank, AMP and IAG.

Gary played a key role in the successful conversion of St George from a building society to a bank; he led the IT team at IAG during the demutualisation of NRMA; and he built an engaged and high performing retail organisation within NRMA, SGIO and SGIC.

Direct Reports

• David Carter – CEO Banking and Wealth

• Gary Dransfield – CEO Insurance

• Sarah Harland – Chief Information Officer

• Lisa Harrison – Chief Program Excellence Office

• Steve Johnston – Chief Financial Officer

• Pip Marlow – CEO Customer Marketplace

• Mark Reinke – Advisor

• Amanda Revis – Chief People Experience Officer

• • Paul Smeaton – CEO Suncorp New Zealand • Fiona Thompson – Chief Risk Officer

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Suncorp Group Ltd - ABN 66 145 290 124 – Level 28, 266 George Street, Brisbane Qld 4000 2 suncorpgroup.com.au