SUNCORP GROUP LIMITED — Capital/Financing Update 2019

Oct 30, 2019

ASX announcement

==> picture [39 x 38] intentionally omitted <==

31 October 2019

Completion of the sale of Capital S.M.A.R.T and ACM Parts

Suncorp Group Limited (ASX: SUN ADR: SNMCY) today advises that it has completed the sale of Capital S.M.A.R.T Group (Capital S.M.A.R.T) and ACM Parts Pty Ltd (ACM Parts) to AMA Group (AMA), announced on 1 October 2019. The sale values 100% of Capital S.M.A.R.T at $420 million. ACM Parts was sold for a cash consideration of $20 million, broadly in line with book value.

As previously announced, the sale consideration is in the form of upfront cash proceeds and the retention of a 10% interest in Capital S.M.A.R.T. Suncorp will have a Board seat on the Capital S.M.A.R.T Group Holding entity to underpin its ongoing, long-term partnership with the business. The after tax profit on the sale is expected to be in the range of $285-295 million.

ENDS

For more information contact:

Media Brett Zarb +61 417 256 563 brett.zarb@suncorp.com.au Jo Starr +61 437 771 872 joanne.starr@suncorp.com.au Analysts / Investors Kelly Hibbins +61 414 609 192 +61 2 8121 9208 kelly.hibbins@suncorp.com.au Jatin Khosla +61 439 226 872 +61 7 3362 1322 jatin.khosla@suncorp.com.au

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