ClearView Investor Presentation Year Ended 30 June 2024

Underlying NPAT is Board’s key measure of profitability and basis on which dividends are determined – considered to be a non-IFRS measure given that it excludes certain items not considered relevant to Group’s performance or are considered unusual to ordinary activities of business Non-IFRS Financial Information FY24 $m FY23 $m Explanation AASB 17 AASB 17 Commentary Reported NPAT Statutory reported profit (loss) after tax (12.5) 8.9 As per statutory accounts Reported NPAT Discontinued Operations Reported loss after tax of wealth management business (discontinued operation) net of equity accounted earnings of Centrepoint Alliance (to date of sale) and profit on sale of shares in Centrepoint Alliance in November 2023 16.8 2.8 FY24 wealth management reported loss after tax includes impairment of goodwill and intangibles (software), exit costs and loss on sale in investment management business. Remaining wealth exit costs related to redundancies and technology exit costs to flow through in FY25 on completion of exit

Reported NPAT from Continuing Operations Economic assumption impact on AASB 17 Liability

4.3

11.7

Result of changes in long term discount rates used to determine (re)insurance contract asset/liability which is discounted using market discount rates that typically vary at each reporting period. ClearView continues to separately report this volatility – the acquisition cost asset is no longer marked to market under AASB 17 Changes in the long-term discount rates used to determine the incurred income protection claims reserves, net of investment income impact including earnings from changes in asset market values due to changes in long term interest rates and inflation Relates to non-cash impairment of acquisition cost asset and represents a timing difference in the release of profit and has no impact on underlying earnings over the life cycle of a policy – see slide 38 for further details Given capitalised nature of these losses and the level of granularity of reporting under AASB 17, these have now been separately reported and removed from underlying earnings under the new standard Under AASB 17 certain timing issues arise whereby the impact on reinsurance profits is recognised faster than the reduction to profit on gross contracts. This is due to two factors, being the pattern of coverage units which are used to release the CSM into profit results in earlier recognition of reinsurance profit or loss than for gross contracts and in the first year of any assumption change, the impact on gross contracts is lower than the impact on reinsurance contracts due to the different contract boundaries Costs associated with the strategic review and IT (PAS) transformation

2.2

(3.0) Impact of changes in long-term discount rates on AASB 17 insurance contract liability in the year, including economic effects of assumption changes (FY23 restated to allow for consistency between periods). Similar concept as adopted under old accounting standard 2.3 Consistent treatment as previously adopted under the old accounting standard with the underlying earning rate of the investment portfolio being reported as part of Underlying NPAT 10.0 The increased claims and other assumption changes has a material impact on loss recognition and AIACF impairment in FY24. A further phase of the gross premium repricing cycle in CY25 (to cover the increased claims and reinsurance costs across these products) is likely to result in the FY24 loss component/AIACF impairment partially reversing in FY25 (timing variant to premium rate increase) 4.6 See AIACF commentary above on the impacts of change in assumptions on the Loss Component (loss recognition) in FY24 (and potential partial reversal in FY25) - The increased claims assumptions, reshaping of lapse assumptions and other assumptions changes in FY24 result in a current year (positive) timing impact on the CSM that is excluded from Underlying NPAT, but included in reported profit

Net economic assumption impact on disabled lives reserves (DLR)

(0.8)

16.3

Impairment of AIACF

Changes in Loss Component

12.2

(2.3)

Current year timing impacts of assumption changes on the contractual service margin (CSM) Costs considered unusual to ordinary activities Underlying NPAT from Continuing Operations

3.4

16 2.6 Strategic review costs ceased in FY24. IT transformation and duplication costs to be incurred to date of migration - expected to be completed in 1H FY26 28.2 Board’s key measure of profitability and basis on which dividends are determined

35.3

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