Tower Limited — Capital/Financing Update 2018

Mar 8, 2018

ASX announcement 8 March 2018 Sale of 19.99% shareholding in Tower Vero Insurance New Zealand Limited (Vero) (a wholly owned subsidiary of Suncorp) today announced it has accepted an offer from Bain Capital Credit, L.P (Bain) to acquire its 19.99 per cent shareholding in Tower Limited (Tower) at a price of NZD $0.80 per share. This represents 100 per cent of Vero’s holdings in Tower, at a total value of NZD $53.9 million. As a result of the sale, a NZD $8.5 million gain will be realised by Suncorp New Zealand in the second half of the June 2018 financial year. The divestment of the Tower shareholding follows the New Zealand Commerce Commission’s decision to decline the application by Vero to acquire 100 per cent of Tower. Ends For more information contact: Media Brett Zarb +61 417 256 563 Brett.Zarb@suncorp.com.au Tony Reid +64 274 051 174 Tony_Reid@vero.co.nz Analysts/Investors Kelly Hibbins +61 414 609 192 +61 2 8121 9208 Kelly.Hibbins@suncorp.com.au Andrew Dempster +61 497 799 960 +61 2 8121 9206 Andrew.Dempster@suncorp.com.au

8 March 2018

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

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