#1Australian Unity Limited Investor update Financial results for the year ended 30 June 2021 180 Australian YEARS Unity Real Wellbeing#2180 Australian YEARS Unity Real Wellbeing Australian Unity Limited is pleased to invite you to our investor presentation teleconference for the year ended 30 June 2021 If you are unable to attend, you are welcome to email any queries you may have to: [email protected] We will endeavour to respond to your queries by email or during the teleconference. Date Wednesday 8 September 2021 Time 9:30am to 10:30am AEST To access the teleconference participants must register in advance via the link below: https://apac.directeventreg.com/registration/event/9864689 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 FY21 Investor presentation 2#3Important information 180 Australian YEARS 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 FY21 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#41. 2. +23 Overview and Group highlights Business results 3. Summary and outlook 180 Australian YEARS Unity Real Wellbeing Rohan Mead Group Managing Director and CEO Darren Mann Group Executive Finance & Strategy and Chief Financial Officer Beverly Smith Executive General Manager Residential Communities, Independent & Assisted Living AUL FY21 Investor presentation 4#5AUL FY21 Investor presentation 180 YEARS Australian Unity Real Wellbeing Overview and Group highlights 5#6Overview of Australian Unity 180 Australian YEARS Unity Real Wellbeing Mutual with a commitment to members, customers and community Established in 1840, a member-owned company with 400,000 members and more than 700,000 customers • Diversified but thematically-linked portfolio of health, wealth and care businesses that provides member, customer and community value and is supportive of personal and community wellbeing AUL FY21 Investor presentation 9#7People & safety We know that supporting the real wellbeing of our people means they can better support our members and customers. 180 Australian YEARS Unity Real Wellbeing • Safety ⚫ Strong incident reporting culture with a significant improvement in incidents reported compared to same time last year. This contributed to improved return to work rates Commenced Self Insurance license in NSW on 1 July 2020 supporting human centred care and support for injured workers resulting in a material reduction in 'lost days' due to injury Wellbeing ⚫ 90% of eligible employees took two days' paid wellbeing leave (>4,300 days)- which supported their wellbeing in a way that mattered most to them Launched our 'Your Wellbeing Matters' program to provide a range of wellbeing support, including webinar sessions about self care, wellness activities and remote working assessments The October 2020 employee People Pulse survey saw 72% of employees rate wellbeing as the number one activity the company is doing well. Group eNPS¹ increased by 7 points Launched additional mental health supports to employees through Remedy MindStep® and Healing Minds The COVID-19 pandemic contributed to proactive management of new and emerging risks, particularly in the areas of wellbeing, remote working and COVID-19 safe work plans across all business operations. Continued to deliver key initiatives under our Safer Me program aimed at maturing our safety culture; implementing an online and mobile accessible safety portal 'Donesafe', developing a comprehensive safe work system, proactively managing hazards, reducing injuries, supporting injured employees back to work and differentiating Australian Unity as a great place to work. ¹Employee net promoter score 7#8FY2021 Strategic priorities 180 Australian YEARS Unity Real Wellbeing Implement PHI strategy Deliver Herston Quarter STARS1 Sustain momentum for health & human services AUL FY21 Investor presentation Manage for financial safety Mobilise Generate cash earnings portfolio capability & seize opportunities 1Surgical, Treatment and Rehabilitation Service (STARS) public hospital at the Herston Quarter health precinct. 8#9FY2021 Operational review Advancing strategic ambitions 180 Australian YEARS Unity Real Wellbeing Further progressed strategy of building a commercially sustainable portfolio of businesses that provides member, customer and community value and fosters personal and community wellbeing Delivered a sound financial result despite COVID-19 adverse impacts and challenges Continued positive impact of improvements in the Home Care Services business; developing improved and sustainable patient and outcome- focused healthcare services; ongoing advancement of the social infrastructure agenda, including the major milestone of practical completion and commercial acceptance of the Surgical, Treatment and Rehabilitation Service (STARS) public hospital at the $1.1 billion Herston Quarter health precinct in Brisbane Undertook Australia's first Mutual Capital Instrument (MCI) issue, raising $120 million • The Board has determined a final fully franked dividend of $2.5068 per mutual capital instrument to be paid on 15 October 2021¹ Retired remaining $71.3 million of Series B Australian Unity Bonds when they matured in December 2020 COVID-19 Continued impact of COVID-19 included the implementation of extraordinary measures to seek to protect aged care residents, home care customers and the employees who support them; the provision of hardship relief for health insurance and banking customers; and the effect of tightened economic circumstances Responded by maintaining, and where possible improving, levels of service and responsiveness to the needs of members and customers, while pursuing efficiency measures to mitigate risks and curtail expenditures. Also focused on the welfare and impact on employees. In line with claims savings due to the impact of the pandemic, further premium relief of approximately $6 million will be delivered in the 2022 financial year Group's overall results affected—with impacts including the deferment of private health insurance premium increases; client cancellations and interruptions to regular home care, disability, dental and health care servicing; some additional government funding receipts; reduced lending and property services activity fees; increased cost of additional personal protective equipment (PPE) and related consumables and cost containment undertaken in response to these pandemic effects AUL FY21 Investor presentation 1The financial effect of this dividend has not been brought to account in the financial statements for the full year ended 30 June 2021 and will be recognised in subsequent financial reports. 9#10Measuring Community & Social Value 180 Australian YEARS Unity Real Wellbeing . Impact report Australian Unity will publish its inaugural impact report in October 2021 The report will detail our Environmental, Social & Governance (ESG) risks and impact It will include measurement of the value created under our Community & Social Value (CSV) outcomes framework The process to calculate value is underway with Social Ventures Australia We have focused our strategy and reporting on six priority outcomes Priority outcomes Lifelong wellness 1. Better access to healthcare 2. Improved health outcomes Economic empowerment 3. Building financial resilience 4. Opportunities through employment AUL FY21 Investor presentation Strong communities 5. Leading social innovation 6. Supporting living in place 10 10#11FY2021 financial summary 180 Australian YEARS Unity Real Wellbeing Key financial statistics FY2021 FY20201 Change Revenue and other income ($m) 1,706.1 1,400.9 305.2 Total expenses, excluding financing 1,586.6 1,378.4 208.2 costs ($m) Profit after tax ($m) 32.9 9.1 23.8 Operating earnings ($m) 52.1 30.3 21.8 Total MCI dividend in relation to FY21 ($m)² 4.8 Payout ratio in relation to FY21 (total 14.7% MCI dividend / profit after tax) (%) 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 2021 Annual Report at Note 21(c). 2 Consists of actual MCI dividend paid in April 2021 and dividend determined to be paid in October 2021. The financial effect of the dividend determined to be paid in October 2021 has not been brought to account in the financial statements for the full year ended 30 June 2021 and will be recognised in subsequent financial reports. AUL FY21 Investor presentation 11#12FY2021 key metrics 60.0 50.0 40.0 30.0 Profit after income tax¹² ($m) 48.8 50.3 45.1 20.0 10.0 0.0 FY2017 FY2018 FY2019 180 Australian YEARS Unity Real Wellbeing 9.1 FY2020 32.9 FY2021 1 Included in the FY2018 result was a profit from discontinued operations of $66.9m from the divestment of the Group's corporate health insurance subsidiary, Grand United Corporate Health Limited (GUCH) completed 31 October 2017. 2 Comparative information has been restated following adjustments made to prior year financial statements. Further information about the nature and impact of the restatement is included in the 2021 Annual Report at Note 21(c). AUL FY21 Investor presentation 12#13FY2021 segment earnings growth 180 Australian YEARS Unity Real Wellbeing 90.0 Adjusted EBITDA ($m)' FY2020 FY2021 80.0 70.0 71.1 61.2 57.4 60.0 50.0 40.0 30.0 20.0 10.0 0.0 Independent & Assisted Living² 2 Retail 81.8 32.8 27.3 Wealth & Capital Markets 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 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 2021 Annual Report at Note 21(c). AUL FY21 Investor presentation 13#14250 200 Building balance sheet flexibility 180 Australian and resilience 150 25 20 100 71 50 38 FY2021 ■Series C AUL Bonds 30 June 2020 maturity profile¹ ($m) 18 207 115 FY2022 FY2023 FY2024 FY2025 ■Retirement Village Investment Notes ■Herston Development Loans (Refinanced) ■Retirement Village Investment Notes (Refinanced) ■Retirement Village Investment Notes (New) Undrawn Revolving Loan (New) ■Drawn Development Loans (New) FY2026 FY2027 ■Series D AUL Bonds Orange indicates issuances and facilities refinanced/redeemed and blue indicates new issuances / facilities during the period Other external loans ■Series B AUL Bonds (Redeemed) Undrawn Revolving Loan (Refinanced) Drawn Revolving Loan (New) Mutual Capital Instruments (New) Undrawn Development Loans (New) 30 June 2021 maturity profile¹ ($m) YEARS Unity Real Wellbeing Continued to build flexibility into the balance sheet, positioning for strategic opportunities to be realised. Key activities during FY2021 included: • extension of existing corporate bank facility execution of a further $120m of corporate bank facilities and $35m of on balance sheet development debt issuance of an additional $33.2m in Retirement Village Investment Notes redemption of AUL's remaining $71.3m Series B Bonds 250 200 150 100 50 35 18 170 207 76 115 24 25 33 16 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2027 Australia's first issuance of Mutual Capital Instruments raising a total of $120m Activity post 30 June 2021: Acquisition of Greengate residential communities portfolio 120 • AUHPT Premium Cash Offer Perpetual 1 Funding maturity profile shows consolidated interest bearing liabilities as at 30 June 2020 and 30 June 2021 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. 2 Loan facilities from a related entity for the development of the Herston Quarter health precinct in Brisbane, Queensland. $25m additional group bank debt raised 14#15Gearing Ratio Gearing analysis and interest cover 180 Australian YEARS Unity Real Wellbeing Covenant gearing ratio¹ 60% 600 10.0 9.0 50% 500 8.0 40% 400 30% 300 20% 200 10% 0% H Debt Capacity ($m) 7.0 6.0 5.0 4.0 3.0 2.0 100 1.0 0 0.0 Dec 16 Jun 17 Dec 17 Jun 18 Bonds Covenant maximum (LHS) Ratios at 30 June 2021 Dec 18 Jun 19 Debt Capacity to covenant limit ($m) (RHS) Bonds Gearing Ratio (LHS) Dec-19 Jun-20 Dec-20 Jun-21 Jun-16 Dec-16 Interest cover ratio 1,2 Jun-17 Dec-17 Jun-18 Interest cover ratio - Interest cover ratio (excluding AASB16 impact) Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 . Covenant gearing ratio 29% based on covenant gearing calculations. The AUL MCI issuance contributes towards equity in the calculation, increasing debt capacity under the covenant. Interest cover ratio 3.18 times, including the impact of AASB16 Leasing. Excluding the impact of AASB16 the interest cover ratio is 4.84 times. AUL FY21 Investor presentation 1 Comparative information for June 2020 has been restated following adjustments made to prior year financial statements. 2 Interest cover ratio is not a debt covenant and is included for illustrative purposes, the value is calculated on a rolling 12-month basis. 15#16Millions Evolution of funding over a decade The group's funding sources have continued to evolve since the issue of Australian Unity Limited's first listed debt in FY2011. Cost of external debt and equity 1,400 8.6% 3.6% Bank Debt 180 Australian YEARS Unity Real Wellbeing • support from the banking group remains strong • increase to corporate liquidity facilities continued utilisation of development loans, at reduced all-in rates 1,200 1,000 800 600 Bank Debt ■Development Loans Corporate Bank Debt Debt Capital Markets ■RVINS Corporate Bonds / Notes ■Subordinated Debt 400 Equity ■MCI 200 ■Members Funds • Debt Capital Markets • increase in listed AUL debt from $120 million to $322 million decrease in AUL listed debt margin from 3.55% to 2.10% while increasing tenor from 5 to an average of 6.3 years Equity approximate $360m increase in Members' Funds at CAGR of 6.8% issued Australia's first Mutual Capital Instrument contributing $120m to group equity. Instruments are traded on the ASX and have annual dividend of 5% plus franking credits 0 30-Jun-11 AUL FY21 Investor presentation 30-Jun-21 Funds total funds managed by the Group increased from $11.9 billion to $27.9 billion 16#17Independent & Assisted Living AUL FY21 Investor presentation 180 Australian YEARS Unity Real Wellbeing 17#18Independent & Assisted Living (IAL) 180 Australian YEARS Unity Real Wellbeing Adjusted EBITDA ($m)¹ ■FY2020 ■FY2021 71.1 57.4 Independent & Assisted Living Segment Revenue ($m)¹ ■FY2020 ■FY2021 520.6 484.6 Independent & Assisted Living AUL FY21 Investor presentation • • Improved operating model driving customer-centred continuum of care across the home care, residential care and Remedy Healthcare businesses Total segment revenue increase of 7.4% to $520.6m compared to prior corresponding period (PCP)-despite significant disruption as a result of the COVID-19 pandemic • Adjusted EBITDA of $71.1m represented an increase of 23.9%, or $13.7m on the PCP 1 Comparative information has been restated following adjustments made to prior year financial statements. Figures at 30 June 2021, unless otherwise noted 18#19IAL highlights Home Care Services (HCS) Residential Communities Remedy Healthcare Dental 180 YEARS Australian Unity Real Wellbeing Development pipeline • • EBITDA increase of $10.7m1 to $29.4m from improvement initiatives and significantly reduced non care worker travel, offsetting cost increases associated with COVID-19 related Personal Protective Equipment (PPE) Approx. 3m hours of care delivered to 38,000+ customers by 3,021 care workers Total Home Care Packages (HCP) under management reached 8,824, an increase of 1,850 on the prior year Aboriginal Home Care business unit delivered approx. 240,000 hours of care to 2,400+ clients by 196 care workers • • • • • Owned and operated 21 retirement communities across Victoria and NSW, comprising 2,496 independent living units (30 June 2020: 2,496) Occupancy levels across portfolio's mature retirement villages remained high at over 94% Owns and operates seven aged care facilities in Victoria and NSW, incorporating 786 aged care beds (30 June 2020: 786) Mature aged care portfolio continued to achieve top-quartile occupancy at above 95% Restricted and contained any COVID-19 outbreaks in facilities • Increased revenue by 44.2% to $41.0m, driven predominantly by Allied Health Services (30 June 2020: $28.4m) Delivered 410,000+ episodes of care across 14 treatment programs Despite COVID-19, delivered more than 6,900 'hospital substitution' programs-an increase of 53.1% on the PCP 1 Comparative information has been restated following adjustments made to prior year financial statements. • • Six dental clinics operating in Victoria Industry significantly impacted by COVID-19 restrictions, forcing clinics to cease operating for an extended period, except for permitted emergency dental treatment Patient visits declined by 8.3% to 41,187 due to Victorian government restrictions on non- essential dental services (30 June 2020:44,915) Continued to progress development pipeline including the redevelopment of the 120 bed Walmsley Residential Aged Care Facility in Kilsyth, Victoria, and a vertically integrated residential aged care and assisted living development in South Melbourne, Victoria comprising 84 aged care beds and 71 assisted living apartments programmed to be completed mid-late 2022 AUL FY21 Investor presentation Figures at 30 June 2021, unless otherwise noted 19#20IAL outlook 180 Australian YEARS Unity Real Wellbeing • . • Continue to orientate the business around the needs of customers and key stakeholders in their health and wellbeing—families, primary carers, communities and government agencies Continue HCS strong results through growth in HCPS, increased service hours per customer, safety management, ongoing cost saving initiatives as well as growth in its frontline workforce to meet ongoing increases in customer demand Pandemic is expected to continue to present significant ongoing challenges and disruption throughout the next financial year. Notwithstanding, the business is well positioned and has proven its ability to continue to deliver essential services to its customers and keep them safe 20#21• IAL focus on scale 180 Australian YEARS Unity Real Wellbeing Focus on scale in co-located retirement and aged care precincts: 30% ILU increase, 130% RAC bed increase delivered or underway since FY2019 Australian Unity is delivering diversified expansion through: Greenfield/Precinct Development: The Grace RV, Drummond Place RV, Racecourse and Sienna Grange RACF, Auchenflower precinct, Lane Cove precinct Asset Redevelopment/Repurposing: 114 Albert Rd RACF & ALA, Walmsley RACF Targeted Acquisition: Hunters Hill RV, Greengate precincts During this period Australian Unity has made a gross investment of over $700m' in these growth initiatives The Greengate acquisition, completed 7 July 2021, delivers immediate scale - 253 ILU and 225 RAC beds - and is uniquely optimised to our strategic criteria: Fully contemporary - opened 2015-2018 Purpose-built, integrated RV and RAC Metro Sydney and Metro Brisbane High occupancy, strong performing sites High RAD payers and residential standard Adaptable for 'small household' AUL FY21 Investor presentation Portfolio growth since 2018/19 2,990 410 295 1,369 2,285 553 225 591 RV/AL Units RAC Beds Acquisitions Underlying portfolio 2018/19 Trading up/developing Expanding our eastern seaboard footprint QLD 303 units 7% VIC NSW 1,539 units 54% 1,337 units 46% NSW 2,148 units 49% VIC 1,908 units 44% 21 1 Financed via group capital and retained profits, development capital and resident funding#22'Small household' model 180 Australian YEARS Unity Real Wellbeing We are one of Australia's leading ‘small household' aged care providers with ten years' experience in the design, build and operation of this model • The Aged Care Royal Commission (Feb 2021) recommended the 'small household' model as the best and most appropriate residential aged care accommodation for older people Recommendation 45: Improving the design of aged care accommodation by publishing a comprehensive set of National Aged Care Design Principles and Guidelines which embody 'small household' models Recommendation 46: Capital grants for 'small household' models of accommodation from Jan-22; increased to $1b p.a. by 2023-24, indexed for inflation thereafter Recommendation 142: To the extent RADs are phased out post-2025, the subsequent regime will be designed to assist/incentivise 'small household' providers We are uniquely positioned to deliver this model which we call Better TogetherⓇ Sector leading inhouse architects and designers of 'small household' models of accommodation for assisted living, aged care and dementia Refined 'small household' operating model including dedicated household rosters, continuity and consistency of staffing with 73% on permanent contracts, already delivering new requirement of an average exceeding 200 minutes of care staff time per resident per day portfolio-wide Healthy Ageing Precincts comprising co-located retirement and aged care offers customers a continuum of care and accommodation options to enable ageing in place. High levels of customer engagement and advocacy with ~96% occupancy (StewartBrown industry average of 92.5% for mature homes) AUL FY21 Investor presentation 22 22#23Delivering C&SV in Residential Communities 180 Australian YEARS Unity Real Wellbeing Lifelong wellness Better access to healthcare Improved health outcomes Enabling the population to age well by investing in the design, development and operations of co-located retirement and small household aged care communities for over a decade 82% of our Aged Care customers are Better TogetherⓇ residents. Research has shown this model can improve the quality of life for residents and improved clinical outcomes Economic empowerment • Building financial resilience Opportunities through employment Targeting 85% permanent employment, consistent rosters, and ongoing professional development Accommodation pricing below median house price to support equity release options Strong communities • Leading social innovation Supporting living in place Social model of ageing-in-place comprising households filled with 100% of residents living in high quality facilities with natural light, views of nature, fresh air, community connection and meaningful engagement AUL FY21 Investor presentation 1 Dyer S et al. Clustered domestic model of residential care is associated with better consumer rated quality of care. International Journal for Quality in Health Care, 2018, 1-7 23 23#24Retail 180 Australian YEARS Unity Real Wellbeing AUL FY21 Investor presentation 24 4#25Retail Adjusted EBITDA ($m) ■FY2020 61.2 ■FY2021 81.8 Retail Segment Revenue ($m) ■FY2020 ■FY2021 709.5 704.6 Retail AUL FY21 Investor presentation 180 Australian Unity YEARS Real Wellbeing • • • • Delivered a strong financial result despite the significant challenges and disruption presented by the COVID-19 pandemic Adjusted EBITDA of $81.8 million-33.6% higher than the PCP While revenue marginally decreased, saw growth in the number of private health insurance (PHI) policyholders of 1.7% (excluding overseas visitor cover policyholders), postponed the April 2020 premium increase to October 2020 and April 2021 premium increase was the lowest premium rate increase in 20 years $18m of COVID-19 support measures, with a further ~$6m in premium relief in FY22 Lower claims expenses incurred (with COVID-19 related claims catch-up slower than expected) resulting in deferred claims liability increasing from $37.6m to $51.3m • Total operating expenses down 3.9% to $622.8m Figures at 30 June 2021, unless otherwise noted 25#26Retail highlights Australian Unity Health Limited Private health insurance (PHI) Growth in PHI policyholders, up 1.7% to 174,827 PHI policy sales up 35.8% and attrition down 21.1% Overseas visitor cover impacted by government border closures, with policyholders decreasing 33.6% Delayed April 2020 premium rate increase to October 2020 April 2021 lowest average AUHL increase in 20 years (average increase of 1.99%-below sector average of 2.74%) Continued momentum in digitisation to support direct sales and customer self service • Deferred Claims Liability* (DCL) increased from $37.6m to $51.3m principally due to restrictions on elective surgery and ancillary services in Victoria 180 Australian YEARS Unity Real Wellbeing Australian Unity Bank Limited • . • • • ~26,000 customers, with total assets growing by $16.9m to $1.15b (30 June 2020: $1.13b) Expected Credit Loss provision on loans decreased by $3.1m to $13.3m (30 June 2020: $16.4m) Average loan book of $915.9m was $67.7m, or 8.0% above the previous year services, with emphasis on digital delivery • Continued focus on delivering quality products and Despite COVID-19 challenges, Gross Loan Portfolio decreased marginally by $9.6m to $918.7m (30 June 2020: $928.1m) Implemented the Kookaburra Securitisation Program, a self-securitisation structure acting as a contingent liquidity support capability with 94% of notes rated as 'AAA' and providing further access to the RBA's Term Funding Facility Issuer Credit Rating by Standard & Poor's remained stable at 'BBB+' *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 FY21 Investor presentation Deferred Claims Liability $m DCL as at 30 June 2021 51.3 Increase in provision during the period 27.5 Unwind of provision during the period (14.3) Movement in other components 0.5 DCL as at 30 June 2020 37.6 Figures at 30 June 2021, unless otherwise noted 26#27Retail outlook 180 Australian YEARS Unity Real Wellbeing • Outlook remains cautiously positive, notwithstanding known impacts and ongoing uncertainties flowing from COVID-19 on healthcare and the economy Anticipate that most health insurance claims deferred due to restrictions on healthcare services during the pandemic will catch up Securitisation program introduced in the year under review will support the bank's growth agenda and allow the bank to continue to grow at above sector rates The extension of the banking business's funding sources through securitisation, expansion of its distribution footprint and strengthened general insurance offering together with an improved health insurance customer value proposition are all key elements to Retail's business development strategy Focusing on developing packages of banking and insurance products; innovative solutions to tackling health and housing affordability; and customer-centered digital platforms that assist the coordination of essential financial and health insurance related services 27 27#28Wealth & Capital Markets AUL FY21 Investor presentation 180 YEARS Australian Unity Real Wellbeing 28#29Wealth & Capital Markets (W&CM) 180 YEARS Australian Unity Real Wellbeing Adjusted EBITDA ($m) ■FY2020 FY2021 32.8 27.3 • 29.7% increase in total segment revenue to $221.1m, reflecting the ongoing impact of the pandemic in suppressing growth across most business lines, offset by a positive performance in the Property business, and higher revenues from recoverable development costs on the Herston Quarter project Adjusted EBITDA decreased by 16.8% to $27.3m Aggregate value of assets under management and administration of $27.89b (2020: $22.94b) Wealth & Capital Markets Segment Revenue ($m) ■FY2020 170.5 ■FY2021 221.1 Wealth & Capital Markets AUL FY21 Investor presentation Figures at 30 June 2021, unless otherwise noted 29 29#30W&CM highlights 180 Australian YEARS Unity Real Wellbeing • Investments FUMA of $10.46b (2020: $8.22b), with positive net flows from retail, middle and institutional markets and strong investment performance across key product areas Launched Future of Healthcare Fund and grew the Green Bond Fund to $178.0m • Group's investment portfolio of $937.0m (2020: $811.7m), including capital stable and highly liquid insurance reserves • Weighted average investment returns of the Group's investment portfolio of 1.8% for the year reflected resilient performance across a diverse array of investment activities in a challenging environment AUL FY21 Investor presentation • • • • Property Assets under management increased to $4.10b (2020: $3.52b) Multi-year development pipeline at $1.25b (2020: $1.29b) Lending and debt facilities on behalf of investors of $1.57b (2020: $1.37b) Achieved major milestone at $1.1b Herston Quarter precinct, with practical completion and commercial acceptance of the Surgical, Treatment and Rehabilitation Service (STARS) public hospital Healthcare Property Trust (HPT) increased FUM to $2.64b (2020: $2.20b) and posted a total return of 28.1% (wholesale units) for the year NorthWest/GIC consortium withdrew proposal to acquire 100% of HPT units Specialist Disability Accommodation Fund settled 31 dwellings and has 8 parcels of land for development, with a combined value of completed and dwellings committed or under construction totalling $118.1m Diversified Property Fund posted a return of 19.6% Life & Super Funds under management and administration of $2.51b (2020: $2.27b) Sales reached $207.4m (2020: $217.5m)-a significant outcome in an extremely low interest rate environment and during the pandemic Continued growth in the direct-to-consumer market, with the 10Invest Investment Bond and launched the co- branded Platinum Investment Bond with Platinum Asset Management Continued leading position in pre-paid funeral market with FUM of $714.2m (2020: $736.2m) across 90,000+ clients Advice • 171 advisers (2020: 176) • • FUA growth to $9.36b (2020: $7.14b), and personal life insurance premiums in-force up to $74.6m (2020: $69.0m) Revenue increased 8.4% to $65.4m (2020: $60.4m) Separately managed (SMA) investment accounts constructed by the Advice business grew in FUM to $716.5m (2020: $391.8m) • • Trustees Established pipeline of estates, trusts and protected persons opportunities enabled continued inflows of new clients and associated revenue-with a notable uplift in this pipeline in the second half of the year Funds under management grew by 6.5% Increased size of will bank nationally, with a healthy percentage of executor, trustee and enduring power of attorney appointments in estate plans written enhancing its latent value Figures at 30 June 2021, unless otherwise noted 30 30#31W&CM outlook 180 Australian YEARS Unity Real Wellbeing • . • Period ahead should continue to provide opportunities to offer customers valuable investment opportunities and to deliver increased community and social value Expansion of funding to the childcare property sector is an example of the value that Australian Unity can bring to supporting Australian families Opportunities are being actively pursued to further the Group's ambitions in becoming a significant force in health and wellbeing precincts, building on the experience at Herston Quarter Well positioned to benefit from collective impact of the rising need for better-planned wealth accumulation, challenges and opportunities presented by an ageing population, the changing regulatory landscape and community expectations 31#3210 year growth strategy 180 Australian YEARS Unity Real Wellbeing Financial Combination of organic and inorganic growth, targeting $100m NPAT Members Focus on building relationship with members to drive product uptake, as well as attracting new members Employees Growth driven on level of portfolio growth in Human Services businesses Reach Important element of being a socially focused mutual 32#33FY2022 priorities 180 Australian YEARS Unity Real Wellbeing 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 Realise the value of the modern mutual Build social infrastructure reach 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 FY21 Investor presentation Build social infrastructure reach Continuing to realise and extend our presence within the Social Infrastructure realm Accelerate momentum in health & human services Generate cash earnings Generate cash earnings Focus will remain on maximising the sustainable, repeatable cash earnings of the group 33#34180 Australian YEARS Unity Real Wellbeing 34