Announcement

On 12 March 2015 AMP Limited announced a new Tier 1 Capital Note transaction for wholesale investors. This transaction is not for retail investors (wholesale investors only) and will be issued under an information memorandum and term sheet. The transaction will follow a similar structure to recently issued Tier 1 capital instruments from Challenger and Suncorp but it will not be listed on the Australian Securities Exchange. The notes will be perpetual, unsecured, subordinated instruments issued by AMP Limited (the non-operating holding company) of the group. The notes will pay discretionary, semi-annual, floating rate distributions at a margin over 180-Day BBSW. The margin range has not been publicly disclosed.