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SUNCORP GROUP LIMITED Capital/Financing Update 2021

Nov 30, 2021

65879_rns_2021-11-30_b4e06641-622c-4ca6-babb-bfc8bc0e167f.pdf

Capital/Financing Update

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ASX announcement

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1 December 2021

Completion of the sale of RACT Insurance

Suncorp (ASX: SUN | ADR: SNMCY) today advised that it has completed the sale of its 50% interest in RACT Insurance to its joint venture partner, the Royal Automobile Club of Tasmania Ltd (RACT), announced on 2 July 2021.

As previously disclosed, the sale was for a cash consideration of $83.75 million and is part of the continued simplification of the Group. The pre-tax profit on sale is $65 million, with the total capital release as a result of the transaction being $55 million.

Authorised for lodgement with the ASX by the Suncorp Disclosure Committee.

ENDS

For more information contact:

Media James Spence +61 436 457 886 [email protected] Analysts / Investors Howard Marks +61 402 438 019 [email protected]