AUL FY2023 Investor Presentation

Gearing analysis and interest cover Gearing Ratio Covenant gearing ratio 8.00 60.00% 900 800 50.00% 700 40.00% 600 500 30.00% 400 20.00% 300 Debt Capacity ($m) 7.00 6.00 200 10.00% 5.00 4.00 3.00 2.00 1.00 100 0.00% 0 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Debt Capacity to covenant limit ($m) (RHS) Bonds Covenant Gearing Ratio (LHS) Bonds Covenant Gearing Ratio Maximum (LHS) Interest cover ratio¹ Dec-19 Jun-20 Dec-20 Jun-21 Interest cover ratio Australian Unity Real Wellbeing Dec-21 Jun-22 Dec-22 Interest cover ratio (excluding AASB16 impact) Jun-23 Ratios at 30 June 2023 Bonds covenant gearing ratio 25% based on covenant gearing calculations. The AUL MCI issuance contributes towards equity in the calculation, increasing debt capacity under the covenant. • Interest cover ratio 3.53 times, including the impact of AASB16 Leasing. Excluding the impact of AASB16 the interest cover ratio is 7.99 times. AUL FY2023 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. 19

View entire presentation