SUNCORP GROUP LIMITED — Capital/Financing Update 2026

May 24, 2026

SUNCORP

ASX announcement

25 May 2026

Suncorp Group Limited announces
Redemption of Capital Notes 3 trading as SUNPH

Suncorp Group Limited (ASX:SUN | ADR:SNMCY) (Suncorp) today announces it will Redeem all 3,890,000 (A$389,000,000) Suncorp Capital Notes 3 issued on 17 December 2019 that are outstanding and trading under ASX code "SUNPH" (Notes), on the Optional Exchange Date of 17 June 2026, in accordance with the Note Terms¹.

In accordance with the Note Terms¹, Suncorp may elect to Convert, Redeem or Resell some, or all, of the Notes on 17 June 2026, subject to APRA's prior written approval. The Redemption of all the Notes has been approved by APRA. The Redemption of the Notes does not imply or indicate that Suncorp will in future exercise any right it may have to redeem any other outstanding regulatory capital instruments. Any such redemption would also be subject to APRA's prior written approval, which may or may not be given.

On 17 June 2026, each Holder will be entitled to receive the face value of A$100.00 per Note plus the final Distribution of A$1.2674 per Note (together, the Redemption Amount), for each Note held on 2 June 2026 (Record Date), subject to the Note Terms¹.

The Australian taxation consequences in relation to the Redemption and final Distribution may vary according to individual circumstances. It is recommended that Holders seek independent tax advice.

The key dates in relation to the Redemption are set out below.

Event	Date
Last day of trading on the ASX	28 May 2026
Record Date for Redemption Amount payment	2 June 2026
Redemption Amount payment date (being the Optional Exchange Date)	17 June 2026

Please note this announcement does not constitute the formal Exchange Notice. The Exchange Notice is attached to this announcement.

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

Definitions

Unless otherwise defined, capitalised words used in this announcement have the meanings given to them in the Note Terms or the Capital Notes 3 prospectus as the context requires.

ENDS

¹ The Note Terms are set out in the Suncorp Capital Notes 3 Replacement Prospectus dated 19 November 2019 available at https://www.suncorpgroup.com.au/investors/securities/suncorp-group-limited-capital-notes-3.

Suncorp Group Limited | ABN 66 145 290 124 | Level 23, 80 Ann Street, Brisbane Qld 4000
suncorpgroup.com.au

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For more information contact:

| Media | James Spence | + 61 436 457 886
james.spence@suncorp.com.au |
| --- | --- | --- |
| Analysts / Investors | Kyran McGushin | +61 438 087 980
kyran.mcgushin@suncorp.com.au |
| Questions about holding/s | MUFG Corporate Markets | Online: au.investorcentre.mpms.mufg.com
By email: suncorp@cm.mpms.mufg.com
By phone: 1300 882 012 (within Australia)
or +61 2 8767 1219 (outside Australia) |

Suncorp Group Limited | ABN 66 145 290 124 | Level 23, 80 Ann Street, Brisbane Qld 4000
suncorpgroup.com.au

SUNCORP

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THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF SUNCORP CAPITAL NOTES 3 HOLDERS. IF YOU ARE IN ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD SEEK ADVICE FROM YOUR FINANCIAL ADVISER OR OTHER PROFESSIONAL ADVISER.

Suncorp Group Limited (ABN 66 145 290 124)
(“Suncorp”)
Exchange Notice
given in respect of the
A$389,000,000 Suncorp Capital Notes 3 (ASX code: SUNPH) issued on 17 December 2019 (the “CN3”)
25 May 2026

A. Redemption of CN3

This notice is an “Exchange Notice” given in accordance with clause 6.1 (“Optional Exchange by Suncorp”) of the terms and conditions of the CN3 (the “Terms”).

Suncorp hereby gives notice to each Holder as defined in the Terms (“CN3 Holder”) that in accordance with the Terms, it has elected to Exchange all of the outstanding CN3 on issue at 17 June 2026 (the “Optional Exchange Date”). The Exchange Method is Redemption in accordance with clause 9 of the Terms in the CN3 Replacement Prospectus on 19 November 2019.

This Exchange Notice is irrevocable (subject to the Terms).

B. Payment of Redemption Price

Each CN3 will be Redeemed for A$100 per CN3 (the “Redemption Price”). Upon payment of the Redemption Price, all CN3 will be cancelled.

C. Payment of Final Distribution

A final Distribution of A$1.2674 per CN3 is scheduled to be paid by Suncorp in respect of all CN3 on 17 June 2026 (the “Final Distribution”), subject to satisfaction of the distribution payment conditions in the Terms.

D. Do CN3 Holders need to do anything?

CN3 Holders do not need to do anything in response to this notice. If you are unsure about what to do in respect of your CN3, Suncorp recommends that you seek professional guidance from a licensed adviser, which takes into account your particular investment objectives and circumstances.

E. Trading

The last date for trading in CN3 is 28 May 2026 and the Record Date for the payment of the Redemption Price and the Final Distribution is 2 June 2026.

F. Payments

All payments in respect of the CN3 will be subject to clause 15 (“Payments and other matters”) of the Terms.

In order to facilitate payment of the Final Distribution and Redemption Price, CN3 Holders are advised to ensure that they have provided their preferred Australian bank account details to the Registrar.

CN3 Holders seeking to update their bank account details should do so online at au.investorcentre.mpms.mufg.com or by contacting the Registrar on via email to suncorp@cm.mpms.mufg.com or via phone on 1300 882 012 (within Australia) or +61 2 8767 1219 (outside Australia) (Monday to Friday, 8:30am to 7:30pm).

G. Definitions

Terms used and not otherwise defined in this Exchange Notice have the meaning given to them in the Terms.

Suncorp Group Limited | ABN 66 145 290 124 | Level 23, 80 Ann Street, Brisbane Qld 4000
suncorpgroup.com.au
SUNCORP