SUNCORP GROUP LIMITED — Capital/Financing Update 2018

Aug 28, 2018

ASX announcement

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29 August 2018

Suncorp Group Limited Prices A$600 million Wholesale Subordinated Notes

Suncorp Group Limited (ASX:SUN | ADR:SNMCY) today announced that it has successfully priced a A$600 million issue of floating rate, unsecured, subordinated notes ( Wholesale Subordinated Notes ) in an offering to institutional and other wholesale market investors.

Steve Johnston, Chief Financial Officer of Suncorp Group said, “We received strong demand and are pleased with the level of investor support shown for the Offer.”

The Wholesale Subordinated Notes are being issued as part of Suncorp Group’s ongoing funding and capital management strategy, the proceeds of which are expected to be used to fund Tier 2 Capital (as described in the Australian Prudential Regulation Authority’s prudential standards) of one or more Regulated Entities within the Suncorp Group and for general funding purposes.

The Wholesale Subordinated Notes have an optional redemption date of 5 December 2023 (5.25 years) and a maturity date of 5 December 2028 (10.25 years). Subject to the satisfaction of a solvency condition, the Wholesale Subordinated Notes will pay quarterly, cumulative, floating rate interest payments at a rate per annum equal to a margin of 2.15% per annum plus the 3-month bank bill swap rate.

The Wholesale Subordinated Notes are expected to be issued on or about 5 September 2018. No shareholder approval is needed for the issue.

Goldman Sachs is acting as Arranger and Joint Lead Manager. ANZ, Citigroup, National Australia Bank and Westpac are acting as Joint Lead Managers.

Ends

For more information contact:

Media Brett Zarb +61 417 256 563 Brett.Zarb@suncorp.com.au Analysts/Investors Kelly Hibbins +61 414 609 192 +61 2 8121 9208 Kelly.Hibbins@suncorp.com.au

Definitions

Unless otherwise defined, capitalised words used in this announcement have the meanings given to them in the Information Memorandum.

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

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Disclaimer

This announcement does not constitute an offer of any securities (including Wholesale Subordinated Notes) for sale or issue. Nothing in this document constitutes an offer of securities for sale in the United States or any other jurisdiction where it is unlawful to do so. The securities described herein have not been, and will not be, registered under the U.S. Securities Act of 1933 (the “Securities Act”), or the securities laws of any state of the U.S. or other jurisdiction and the securities described herein may not be offered or sold within the U.S. or to or for the account or benefit of, U.S. Persons (as defined in Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws.

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