Investor Presentaiton

14 Gearing analysis and interest cover Australian Unity Interest cover ratio Bond covenant gearing 60% 600.0 8.0 7.0 6.0 5.0 4.0 3.0 20 2.0 1.0 10 Gearing Ratio 50% 40% 30% 20% 10% HI 500.0 400.0 300.0 200.0 100.0 0.0 0% 00 0.0 Jun 16 Jun 17 Jun 18 Jun 19 Jun 16 Dec 16 Jun 17 Dec 17 Jun 18 Dec 18 Jun 19 Australian Unity Bonds - Tranche 1 ratios at 30 June 2019: Gearing 21.9% based on covenant gearing calculations Interest cover ratio¹ 6.58 times Debt Capacity to covenant limit ($m) (RHS) Bonds Gearing Ratio (LHS) Bonds Covenant maximum (LHS) 1 Interest cover ratio is calculated on a rolling 12 month basis Health Wealth | Living Debt Capacity ($m)

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