#1Australian Unity Limited Investor update Financial results for the half-year ended 31 December 2022 Australian Unity Real Wellbeing#2Australian Unity Real Wellbeing Australian Unity Limited is pleased to invite you to our investor presentation teleconference for the half-year ended 31 December 2022 If you are unable to attend, you are welcome to email any queries you may have to Malin Eek: [email protected] We will endeavour to respond to your queries by email or during the teleconference Date Thursday 2 March 2023 Time 9:30am to 10:30am AEDT To access the teleconference participants must register in advance via the link below: https://registrations.events/signup/ID80123 Once registered, each participant will be provided with dial in numbers, an event passcode and a participant PIN Please dial in 10 minutes prior to the scheduled start of the event AUL HY2023 Investor presentation 2#3Important information Australian Unity Real Wellbeing This notice relates to all information provided as a part of this presentation including, without limitation, these slides, associated presentations and any oral presentations by the representatives of Australian Unity Limited ACN 087 648 888 (AUL) or its officers, directors, employees, agents, advisers or consultants made in connection with or arising out of this presentation (Information). This presentation has been prepared by AUL. The Information is intended for discussion purposes only and for no other purpose. The Information is provided to parties on the basis that they are persons to whom an invitation or offer of securities would not require disclosure under section 708 of the Corporations Act 2001 (Cth). The Information is not financial product advice and reliance should not be placed on the Information or opinions contained therein. The Information does not take into consideration the investment objectives, financial situation or particular needs of any particular investor. AUL makes no representation or warranty, express or implied, as to the fairness, accuracy, completeness, correctness or reliability of the statements, estimates, opinions, conclusions and other information contained in the Information. AUL HY2023 Investor presentation To the maximum extent permitted by law, AUL, its related bodies corporate and each of its respective officers, directors, employees, agents, advisers or consultants accept no responsibility for the Information including, but not limited to, forward looking information or projections and disclaim any and all liability whatsoever for any loss or damage, however so arising, from any use or reliance on the Information. The Information is not and does not form an offer, or part of an offer or invitation, to subscribe for or purchase securities. Investors must make their own independent assessment of AUL and its related entities and undertake such additional enquiries as they deem necessary or appropriate for their own investment purposes. Past performance is no indication or guarantee of future performance. You should be aware that any forecast, projection or other forward looking statement in the Information is subject to inherent risks, uncertainties and factors beyond AUL's control. Those risks and uncertainties include factors and risks specific to the business of AUL and its related entities as well as general economic conditions and may cause actual results, performance or achievements to be materially different from those expressed or implied by those statements. 3#4AUL HY2023 Investor presentation Australian Unity acknowledges the Traditional Owners of the lands and waters within Australia and recognises the important connection to Country that Aboriginal and Torres Strait Islander peoples have. 4#5Agenda and presenters 1. Overview and Group highlights 2. -23 3. Business results Summary and outlook Australian Unity Real Wellbeing Rohan Mead Group Managing Director and CEO AUL HY2023 Investor presentation Christine Yates Chief Executive Officer - Retail Darren Mann Group Executive Finance & Strategy and Chief Financial Officer 5#6Overview and Group highlights AUL HY2023 Investor presentation Australian Unity Real Wellbeing 6#7Overview of Australian Unity Mutual wellbeing company with a commitment to members, customers and community Australian Unity Real Wellbeing • • Established in 1840, a member-owned company with more than 380,000 members and more than 650,000 customers Diversified but thematically-linked portfolio of health, wealth and care businesses that provides member, customer and community value that supports personal and community wellbeing AUL HY2023 Investor presentation 7#8HY2023 operational review Advancing strategic ambitions • • . Australian Unity Real Wellbeing Further progressed strategy of building a commercially sustainable portfolio of businesses that provides member, customer and community value that supports personal and community wellbeing Delivered a sound financial result despite market disruption and volatility. Net profit after tax was $14.2m, compared to $15.5m in the prior corresponding period (prior period included a $20.3m before tax revaluation of the investment in the Platypus Asset Management business on the Group's acquisition of a controlling interest) Activities of the Independent & Assisted Living (IAL) platform continued to be adversely affected by the pandemic and those in the Retail and Wealth & Capital Markets (W&CM) platforms by the flow-on effects of financial market and regulatory change Within IAL, Home Care Services further progressed in developing improved and sustainable patient and outcome-focused healthcare services The Group continued to advance its social infrastructure agenda, including further growth of funds invested in critical social infrastructure, such as disability accommodation and childcare The Group is reviewing the arrangements under which it operates residential aged care, to safeguard both quality care and sustainability. It is anticipated this review will be concluded by mid-2023 • The Board has determined an interim fully franked dividend of $2.4932 per mutual capital instrument to be paid on 17 April 2023¹ AUL HY2023 Investor presentation 1The financial effect of this dividend has not been brought to account in the financial statements for the half-year ended 31 December 2022 and will be recognised in subsequent financial reports. 8#9• HY2023 operational review cont. COVID-19 support measures • • Australian Unity Real Wellbeing Impact of the COVID-19 pandemic continued to be felt across the Group's businesses despite a general return to a more normal operating environment, following the unwinding of most of the COVID-19 pandemic restrictions Responded throughout the pandemic by maintaining, and where possible improving, levels of service and responsiveness to the needs and wellbeing of members, customers and employees, while pursuing efficiency measures to mitigate risks and curtail expenditures. This focus remains in place Announced the planned deferral of the implementation of the 2023 premium increase for private health insurance (PHI) policyholders from 1 April 2023 to 1 November 2023 in recognition of the impact of cancelled, suspended and postponed healthcare services, thereby passing on a further $19m in COVID-related support. After the deferral period, this will take the total value of support to PHI members to some $85m since the start of the pandemic Prior-period measures across Australian Unity's businesses included the provision of premium relief through the application of ‘premium-free days'; the implementation of a range of ancillary product benefit improvements; a six-month deferral of the 2020 premium increase; a low, relative to the sector, 2021 premium increase; cover for COVID-19 related hospital admissions; a range of telehealth services; and earlier concessions from banking loans in 2020 Also continued to respond to COVID-19 related impacts within the Residential Communities portfolio, and continued to implement additional measures to seek to protect aged care residents, home care customers and the employees who support them. This included increased costs of additional personal protective equipment (PPE) and related consumables; and the expenditure of $4.9m on agency staff within Residential Communities AUL HY2023 Investor presentation 9#10FY2023 priorities Realise the value of the modern mutual Create the building blocks to form deeper relationships with members, based on improving wellbeing outcomes and superior interaction with the Group Accelerate momentum in health and human services Continuation of the program of work already underway to leverage the opportunities across the Continuum of Care, including those anticipated from the Royal Commission AUL HY2023 Investor presentation Realise the value of the modern mutual Build social infrastructure reach Generate Accelerate momentum in health & human services cash earnings Australian Unity Real Wellbeing Build social infrastructure reach Continuing to realise and extend our presence within the Social Infrastructure realm Generate cash earnings Focus will remain on maximising the sustainable, repeatable cash earnings of the Group 10#11Community & Social Value Australian Unity delivered $1.63b in total community and social value for FY22. The uplift from $1.25b in Community & Social Value in FY21 can be attributed to steady growth across our businesses. For FY23 our focus has remained on further embedding our framework to enable better strategic decision making and consistent refinement of our methodology. AUL HY2023 Investor presentation hg wellnes Strong commu $353m Supporting living in place $699m Better access $475m to healthcare $920m $237m $221m Improved health outcomes $122m Leading social innovation $184m Building financial resilience Australian Unity Real Wellbeing empowerme Economic $53m Social and economic opportunities through employment 11#12Australian Unity Real Wellbeing HY2023 financial summary Key financial statistics Revenue and other income ($m) Corporate entity income ($m) HY2023 HY2022 Change 855.2 835.0 20.2 774.1 753.6 20.5 Investment earnings ($m) 17.1 4.9 12.3 Benefit funds income ($m) 64.0 76.5 (12.6) Total expenses, excluding financing costs ($m) 806.5 794.1 (12.4) Corporate entity expenses ($m) 750.3 734.3 (16.0) Benefit funds expenses ($m) 56.2 59.8 3.6 Profit after tax ($m)1 Operating earnings ($m) Total MCI dividend in relation to HY22 ($m)² Payout ratio (total MCI dividend / profit after tax)³ (%) 14.2 15.5 (1.3) 32.4 13.8 18.6 8.6 40% 8.6 27% 1 Prior period (HY2022) included a $20.3 million before tax revaluation of the investment in the Platypus Asset Management business on the Group's acquisition of a controlling interest. 2 Consists of dividend determined to be paid in April 2023. The financial effect of the dividend determined to be paid in April 2023 has not been brought to account in the financial statements for the half-year ended 31 December 2022 and will be recognised in subsequent financial reports. 3 Total MCI dividend consists of actual MCI dividend paid in October 2022 and dividend determined to be paid in April 2023. Profit after tax relates to the period 1 January 2022 to 31 December 2022. HY2022 payout ratio consists of MCI dividend paid in October 2021 and dividend paid in April 2022. Profit after tax relates to the period 1 January 2021 to 31 December 2021. 12#13HY2023 key metrics 60 50 Profit after income tax ($m) ■HY 50 40 40 30 50 38.4 20 20 26.7 30.2 Australian Unity Real Wellbeing 2.1 15.5 14.2 11.9 7.0 6.2 0 FY2019¹ FY2020 1 FY2021 FY2022 HY2023 10 10 1 Comparative information has been restated following adjustments made to prior year financial statements. Further information about the nature and impact of the restatement is included in the FY21 Annual Report at Note 21 (c) and the FY22 Interim Report at Note 15. AUL HY2023 Investor presentation 13#14HY2023 segment earnings growth 70.0 Adjusted EBITDA1,2 ($m) HY22 HY23 65.6 60.0 50.0 40.1 40.0 36.5 27.5 30.0 20.0 30.1 10.0 3.4 0.0 Independent & Assisted Living Retail Wealth & Capital Markets Australian Unity Real Wellbeing 1 Adjusted EBITDA: the measure the Group uses in assessing the operating performance of its business segments. This measurement basis excludes the effects of tax, depreciation and amortisation, interest expense and investment income. It also excludes material non-recurring expenditure and shared services costs. 2 Adjusted EBITDA of Wealth & Capital Markets for HY22 included a revaluation gain of $20.3 million arising from a business combination revaluation as set out in the FY22 Interim Report at Note 16(b). AUL HY2023 Investor presentation 14#15Building balance sheet flexibility and resilience 30 June 2022 ($m) 1 Mutual Capital Instruments Other external loans Undrawn Revolving Loan (New) 400 ■Series D AUL Bonds 350 Undrawn Revolving Loan 300 Undrawn Development Loan Drawn Development Loan 250 ■Retirement Village Investment Notes ■Series C AUL Bonds 200 150 Repaid Revolving Loan 350 17 19 18 100 207 91 50 50 115 5 35 I FY2022 FY2023 FY2024 FY2025 FY2026 FY2027 Perpetual 400 350 31 December 2022 ($m) 1 300 250 200 8 350 150 27 18 100 207 100 115 50 5 35 FY2022 FY2023 FY2024 FY2025 FY2026 FY2027 Perpetual AUL HY2023 Investor presentation Australian Unity Real Wellbeing Continued to build flexibility into the balance sheet, positioning for strategic opportunities to be realised. Key activities during HY2023 included: . • • Repayment of $9m corporate bank facility Refinancing of $100m of corporate bank facilities for 3.25 years, increasing the tenor of the debt portfolio Walmsley RAC centre successfully reached practical completion and has recorded a strong start to operations Currently the Group has a strong liquidity position of $135m of undrawn committed debt facilities and $109m of cash 1 Funding maturity profile shows consolidated interest bearing liabilities as at 30 June 2022 and 31 December 2022 that contribute to the Covenant Gearing Ratio debt (excluding Authorised Deposit- Taking Institution (ADI) borrowings) and Australian Unity Limited's Mutual Capital Instruments, which contribute towards gearing ratio equity. 15#16Gearing Ratio Gearing analysis and interest cover Covenant gearing ratio 60.0% 800 700 50.0% 40.0% 30.0% 20.0% 10.0% 600 500 400 300 200 100 0.0% 0 Jun 19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Debt Capacity to covenant limit ($m) (RHS) Bonds Covenant Gearing Ratio (LHS) Debt Capacity ($m) 7.00 6.00 Interest cover ratio¹ 5.00 4.00 3.00 2.00 1.00 Dec-19 Jun-20 Dec-20 Interest cover ratio Jun-21 Dec-21 Australian Unity Real Wellbeing Jun-22 - Interest cover ratio (excluding AASB16 impact) Dec-22 Ratios at 31 December 2022 Bonds covenant gearing ratio 28% based on covenant gearing calculations. The AUL MCI issuance contributes towards equity in the calculation, increasing debt capacity under the covenant. • Interest cover ratio 3.23 times, including the impact of AASB16 Leasing. Excluding the impact of AASB16 the interest cover ratio is 6.05 times. AUL HY2023 Investor presentation 1 Interest cover ratio is not a debt covenant and is included for illustrative purposes, the value is calculated on a rolling 12-month basis. 16#17Independent & Assisted Living AUL HY2023 Investor presentation Australian Unity Real Wellbeing 17#18Independent & Assisted Living (IAL) Adjusted EBITDA ($m) HY22 HY23 36.5 27.5 Independent & Assisted Living Segment Revenue ($m) ■HY22 HY23 318.3 291.3 Independent & Assisted Living AUL HY2023 Investor presentation • • Australian Unity Real Wellbeing Total segment revenue increase of 9.3% to $318.3m compared to the PCP-despite continuing disruption as a result of the COVID-19 pandemic Adjusted EBITDA of $36.5m represented an increase of $9.0m or 32.9% on the PCP Home Care Services experienced a 6.4% increase in revenue to $180.7m, Residential Communities increased 8.4% to $102.6m, Health Services increased 30.3% to $33.9m, while Developments increased 27.4% to $1.1m Figures at 31 December 2022, unless otherwise noted 18#19IAL highlights Home Care Services (HCS) Residential Communities Australian Unity Real Wellbeing Health Services (Remedy Healthcare & Dental) Developments • • Adjusted EBITDA of $18.4m-an increase of 59.2% on the PCP More than 1.2m hours of care delivered by 2,683 care workers Total Home Care Packages (HCP) under management reached 10,238 (30 June 2022: 10,043) Aboriginal Home Care business unit delivered an adjusted EBITDA of $1.5m (31 December 2021: $0.2m) and delivered approx. 97,000 hours of care to 2,500+ clients by 198 care workers Disability Services was divested, with the transition of customers and care workers to another dedicated disability services provider on 12 December 2022 AUL HY2023 Investor presentation • • • Operated 11 integrated retirement villages and residential aged care precincts (30 June 2022: 10) and 12 standalone retirement villages (30 June 2022: 13) across NSW, Victoria and Queensland Comprising 2,664 independent living units and 1,125 aged care beds (30 June 2022: 2,664 ILUS and 1,007 aged care beds) following the commissioning of the rebuilt Walmsley Aged Care residence in November 2022 Continued to confront the challenges of attracting, retaining and managing necessary absenteeism associated with COVID-19, resulting in expenditure of $4.9m on agency staff (31 December 2021: $0.7m) Aged care portfolio successfully transitioned to Federal Government's new aged care funding instrument implemented on 1 October 2022. Occupancy within aged care portfolio reached 92% (30 June 2022: above 94%), while occupancy within mature retirement villages improved to 94% (30 June 2022: 93%) Gross value of resales up 20% on PCP to approx. $80m (31 December 2021: approx. $67m) • • Remedy Healthcare increased revenue by 33.9% to $28.5m, driven predominantly by the Beyond Blue Support Service that commenced operations in February 2022, combined with an increase in activity across the business as a result of easing of COVID-19 disruption (31 December 2021: $21.3m) Delivered 32,000+ hours of allied services to HCS clients, an increase of 23.4% on PCP Delivered 3,600+ 'hospital substitution' programs-an increase of 13.9% on PCP (31 December 2021: approx. 3,200) Ramsay Connect-joint venture with Ramsay Healthcare-enrolled more than 1,400 patients into community care hospital substitution and rehabilitation programs, representing a 21.2% increase in patient numbers on the PCP Operated five dental clinics in Victoria Patient visits increased by 12.7% to 25,756 (31 December 2021: 22,861) Continued to work closely with W&CM in progressing development pipeline including its signature Better TogetherⓇ small household aged care model. Further information on development activities within the W&CM section of this report Figures at 31 December 2022, unless otherwise noted 19#20IAL outlook Australian Unity Real Wellbeing . . IAL businesses remain focused on the health and wellbeing needs of customers and key stakeholders— families, primary carers, communities and government agencies Workforce growth and transformation of business operations will continue to be key focus areas throughout the remainder of this financial year, ensuring that the business is well positioned and prepared for the introduction of the new Support at Home funding program in July 2024 COVID-19 and workforce shortages are expected to continue to present challenges and disruptions, however, the business is actively managing these challenges The mandatory implementation of minimum care and registered nurse minutes in residential aged care settings comes into effect in the upcoming financial year. The business is well positioned to implement this transition across all of our aged care residences 20 20#21Retail AUL HY2023 Investor presentation Australian Unity Real Wellbeing 21 221#22Retail Australian Unity Real Wellbeing Adjusted EBITDA ($m) ■HY22 HY23 40.1 Retail 65.6 Segment Revenue ($m) HY22 HY23 355.6 372.9 • • • • Delivered a strong result for the half-year, with an adjusted EBITDA of $65.6m-63.6% higher than the PCP Overall revenue of $372.9m represented a 4.9% increase on the PCP driven by 2.0% increase in private health insurance revenue and 73.6% increase in banking revenue Total operating expenses were $307.3m-$8.2m or 2.6% lower than the PCP. This decrease reflected a $25.3m reduction in health insurance claims after allowing for the reduction in the deferred claims liability provision, an $8.9m increase in bank interest expense due to higher interest rates and a $8.2m increase in other operating expenses across the Retail platform Announced planned deferral of the 2023 premium increase for private health insurance (PHI) policyholders from 1 April 2023 to 1 November 2023 will bring the total value of support measures to some $85 million Adds to the package of pandemic support measures provided to policyholders to date, including premium relief for those experiencing hardship, a six-month deferral of the 2020 premium increase, ‘premium-free days' and a low, relative to the sector, 2021 premium increase. We have also implemented a range of ancillary product benefit improvements and expanded cover for COVID-19 related hospital admissions and a range of telehealth services Retail AUL HY2023 Investor presentation Figures at 31 December 2022, unless otherwise noted 22 22#23Retail highlights Australian Unity Health Limited Private health insurance (PHI) • . PHI policyholders decreased by 1.9% to 165,053 Overseas visitor cover benefited from a relaxation in border restrictions, with policyholders increasing 15.4% to 3,737 Australian Unity announced further savings for PHI policyholders through a seven-month deferral of the 2023 premium rate increase from 1 April 2023 until 1 November 2023 In January 2023, the federal Minister for Health approved Australian Unity Health Limited's (AUHL) 2023 Premium Round submission, with an average increase of 3.76%. While this was above the announced sector average for 2023 of 2.90%, AUHL's average increase over the past three years of 2.83% per annum is slightly above the sector average of 2.78% per annum • Deferred Claims Liability Australian Unity Bank Limited Australian Unity Real Wellbeing Deferred Claims Liability1 (DCL) decreased by $30.3m to $40.7m at 31 December 2022 • More than 26,000 customers, with total assets growing by $85.3m to $1,421.3m (30 June 2022: $1,336.0m) Expected Credit Loss provision on loans increased by $0.7m to $9.1m (30 June 2022: $8.4m) Despite significant challenges and disruption presented by the COVID-19 pandemic, the Gross Loan Portfolio increased by $36.0m to $1,150.5m (30 June 2022: $1,114.5m) Issuer Credit Rating by S&P Global remained stable at 'BBB+' $m DCL as at 30 June 2022 71.0 Unwind of provision during the period (30.0) Movement in other components (0.3) . DCL as at 31 December 2022 40.7 1 The Deferred Claims Liability is an additional provision held as a result of surgeries and other health services being restricted during the COVID-19 measures AUL HY2023 Investor presentation Figures at 31 December 2022, unless otherwise noted 23 23#24Retail outlook Australian Unity Real Wellbeing • Outlook is cautiously positive, notwithstanding the continued uncertainties as health insurance claims normalise and bank credit growth slows in response to higher interest rates Has established a solid foundation for the delivery of customer growth and member value. The platform remains focused on several opportunities arising from the health insurance and banking adjacencies, including packages of banking and insurance products and customer-centered digital platforms that assist the co-ordination of essential financial and health insurance related services 24#25Wealth & Capital Markets AUL HY2023 Investor presentation Australian Unity Real Wellbeing 25 45#26Wealth & Capital Markets (W&CM) Australian Unity Real Wellbeing Adjusted EBITDA ($m)1 ■HY22 HY23 30.1 3.4 Wealth & Capital Markets Segment Revenue ($m) HY22 HY23 . • Total segment revenue decreased by 5.1% compared to PCP reflecting the timing of project-based property services income and continued impacts from the global pandemic and investment market downturn. In the first half of the 2022 financial year, the segment recorded a $20.3m gain in other income, arising from the revaluation of the platform's investment in the Platypus Asset Management business on acquisition of a controlling interest Adjusted EBITDA decreased by 88.7% compared to the PCP. After adjusting for one-off revenue through the controlling interest in the Platypus Asset Management business and one-off costs during the current and prior periods, the decrease was 33.0% A strategic review of the business was undertaken to better align with the Group's strategic objectives. The review resulted in the development of a new target operating model, being implemented during the FY2023 Aggregate value of assets under management and administration (AUMA), excluding cross-investments (investments by Australian Unity funds in other funds managed or operated by Australian Unity or our associates) was $29.79b (30 June 2022: $28.50b) 104.9 99.5 Wealth & Capital Markets 1 Adjusted EBITDA of Wealth & Capital Markets for HY22 included a revaluation gain of $20.3m arising from a business combination revaluation as set out in the FY22 Australian Unity Limited Interim Report at Note 16(b). AUL HY2023 Investor presentation Figures at 31 December 2022, unless otherwise noted 26#27W&CM highlights Funds Management Social infrastructure Life & Super Advice Australian Unity Real Wellbeing Trustees • • • • FUMA of $10.84b (30 June 2022: $9.90b), with positive net flows across all distribution channels Platypus Asset Management's FUMA grew to $4.66b (30 June 2022: $4.33b), benefiting from the strong continued support of retail, sophisticated and institutional investors Altius Asset Management's FUM stood at $1.74b (30 June 2022: $1.89b). Altius also released its inaugural Impact Report Acorn Capital's (a joint venture) FUM grew to $631.5m (30 June 2022: $493.0m) Group's investment portfolio stood at $938.9m (30 June 2022: $1.01b), including regulatory and strategic capital AUL HY2023 Investor presentation • • • • • • Property assets under management increased to $5.31b (30 June 2022: $4.92b) Multi-year development pipeline stood at $0.73b (30 June 2022: $1.31b) Lending and debt facilities on behalf of investors (through property funds and its commercial lending activities) at $2.31b (30 June 2022: $2.05b) Gross asset value (GAV) of Healthcare Property Trust (HPT) reached $3.69b, with acquisitions totalling $361.5m Proceedings issued by NorthWest Healthcare Australia RE Limited against Australian Unity parties including HPT's responsible entity, Australian Unity Limited and Australian Unity Strategic Holdings Pty Ltd in the Supreme Court of NSW were ongoing. Trial provisionally set for October 2023 Select Income Fund delivered $366.7m in FUM (30 June 2021: $305.8m) Childcare Property Fund raised $12.5m of equity, supporting 55% growth in total assets of the fund to $68.06m Specialist Disability Accommodation Fund raised $10.6m in equity, supporting 53% growth in total assets to $110.2m Completed redevelopment (November 2022) of Walmsley Residential Aged Care Facility in Kilsyth, Victoria, and development of integrated residential aged care and assisted living in South Melbourne, Victoria (est. completion April 2023) FUMA of $2.34b (30 June 2021: $2.30b) Gross inflows reached $112.3m (31 December 2021: $125.7m), representing a 10.7% decrease compared to the PCP Strong support for Life & Super's products, particularly in the independent financial adviser network 10Invest Investment Bond achieved $78.4m of FUM Continued to occupy a leading position in the pre-paid funeral market via specialised business Funeral Plan Management, with funeral FUM of $574.6m (30 June 2022: $624.5m) across 90,000+ clients Total number of advisers remained stable at 173 (30 June 2022: 170) Funds under advice (FUA) grew to $10.45b (30 June 2022: $9.99b) Personal life insurance premiums in-force increased to $111.1m (30 June 2022: $77.0m) Separately managed investment accounts (SMA) constructed by the Advice business grew in FUM to $871.4m (30 June 2022: $798.7m) The growth of the Trustees business continued with a 12.3% increase in FUM to $0.46b in the period under review Figures at 31 December 2022, unless otherwise noted 27#28W&CM outlook • • Australian Unity Real Wellbeing Period ahead should continue to provide opportunities for the platform to offer customers valuable investment opportunities, and to deliver increased community and social value • Remains well positioned to benefit from: • the collective impact of the rising need for better-planned wealth accumulation; the challenges and opportunities presented by Australia's ageing population; . the changing regulatory landscape; and increasing community expectations in these areas 28#2910-year growth strategy Growth areas Realise the value of the modern mutual Accelerate momentum in health & human services Build social infrastructure reach AUL HY2023 Investor presentation Australian Unity Real Wellbeing 1 29 29#30Australian Unity Real Wellbeing