SUNCORP GROUP LIMITED — Capital/Financing Update 2021

Aug 31, 2021

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ASX announcement

1 September 2021

Suncorp successfully completes Capital Notes 4 Bookbuild allocating A$375 million

Suncorp Group Limited (ASX: SUN | ADR: SNMCY) (Suncorp) today announced that it has successfully completed the Bookbuild for its offer of Capital Notes 4 (the Offer) announced on 30 August 2021.

Through the Bookbuild process, Suncorp has allocated $375 million in firm commitments to Syndicate Brokers and Institutional Investors. The Margin has been set at 2.90% p.a., at the bottom of the Margin range of 2.90% - 3.10% p.a. indicated at launch. The Margin will not change for the term of Capital Notes 4.

Given the investor demand received, Suncorp has also increased the Offer size from $350 million to $375 million, with the ability to raise more or less.

The final size of the Offer will depend on the volume of Applications received and accepted under the Securityholder Offer which is expected to open on 7 September 2021 and expected to close at 5.00pm (Sydney time) on 20 September 2021. Suncorp reserves the right to scale back Applications or increase the final size of the Offer if there is excess demand.

Full details of this investment opportunity and the terms and conditions of Capital Notes 4, including the Margin and increased Offer size, will be set out in the replacement Prospectus which is expected to be lodged with the Australian Securities and Investments Commission (ASIC) and Australian Securities Exchange (ASX) on 7 September 2021, subject to expiry of the ASIC exposure period.

Eligible Securityholders wishing to invest in Capital Notes 4 should complete the online Application Form included with the replacement Prospectus which will be available at www.suncorpgroup.com.au/sunpi.

Investors should read and consider the Prospectus in full before deciding whether to apply for Capital Notes 4. Suncorp strongly recommends that investors seek professional advice from a licensed adviser, which takes into account their particular investment objectives and circumstances, before deciding whether to participate in the Offer.

Authorised for lodgement with the ASX by the Suncorp Group Chief Financial Officer.

For more information contact:

Securityholders

Suncorp Capital Notes 4 1300 882 012 (within Australia) or Offer Information Line +61 2 8767 1219 (outside Australia) Monday to Friday, 8:00am to 7:30pm (Sydney time) Website: www.suncorpgroup.com.au/sunpi

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

Definitions

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

Disclaimer

This announcement does not constitute an offer of any securities (including the Capital Notes 4) for sale or issue. No action has been taken to register or qualify Capital Notes 4 or the Offer or to otherwise permit a public offering of Capital Notes 4 outside Australia. In particular, this announcement does not constitute an offer of securities for sale in the United States. Neither the Capital Notes 4 nor the Ordinary Shares have been or will be registered under the US Securities Act of 1933 or the securities laws of any state of the United States, and they may not be offered or sold in the United States or to, or for the account or benefit of, a US Person. The Capital Notes 4 are being offered and sold in the Offer solely outside the United States pursuant to Regulation S under the US Securities Act.

Ends

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