Australian Unity Mutual Capital Instruments

Australian Unity Mutual Capital Instruments – 2021 Offer

On 3 November 2021, Australian Unity issued a further $230 million of MCIs under a prospectus lodged with ASIC dated 11 October 2021 (‘2021 Prospectus’), as supplemented by a supplementary prospectus dated 15 October 2021 (‘Supplementary Prospectus’ and together with the 2021 Prospectus, the ‘2021 Offer Documents’) (‘2021 MCI Offer’).

A copy of the key documents relating to the 2021 MCI Offer are provided below:

1. 2021 Prospectus dated 11 October 2021 as supplemented by the Supplementary Prospectus dated 15 October 2021
2. Summary of the Offer Management Agreement (as incorporated by reference to the 2021 Offer Documents)
3. Australian Tax Office Class Ruling relating to MCIs issued pursuant to the 2021 MCI Offer (CR 2021/75)
4. Target Market Determination for MCIs offered pursuant to the 2021 MCI Offer

The MCIs under the 2021 MCI Offer were issued under the same terms as the MCIs issued under the 2020 MCI Offer.

The 2021 MCI Offer closed on 29 October 2021 and the MCIs issued under the 2021 Offer Documents commenced trading on the ASX on 8 November 2021 under the code ‘AYUPA’. MCIs issued under the 2021 Offer Documents are fully fungible with existing MCIs issued under the 2020 Offer Documents. Each MCI issued under the 2021 Offer Documents has a Face Value of $100 and an Issue Price of $103.

Australian Unity Mutual Capital Instruments – 2020 Offer

On 24 December 2020, Australian Unity Limited ('Australian Unity') issued $120 million of Australian Unity Mutual Capital Instruments ('MCIs'), under a Prospectus lodged with the Australian Securities and Investments Commission dated 7 December 2020 ('Prospectus'). The Prospectus followed an original prospectus lodged with ASIC dated 27 November 2020 (together 'Offer Documents').

The funds raised by the issue of MCIs will be used for a range of opportunities across the Australian Unity Group. These include pursuing near-term growth opportunities within the individual businesses as well as investing capital across the Australian Unity Group where third party funding has historically been utilised. The use of proceeds may also extend to merger and acquisition opportunities across the Australian Unity Group operating platforms - to increase investment in social infrastructure and to help support business consolidations in important mutual sectors such as private health insurance, banking and friendly societies.

The Offer closed on 21 December 2020 and the MCIs commenced trading on the ASX on 4 January 2021 under the code 'AYUPA'. Each MCI has a Face Value of $100 and an Issue Price of $100.