Upgrading FY24 earnings to top end of guidance range

• Group assets under management (AUM) $124 billion, up 6% for the quarter
• Total Life sales $1.7 billion and Life book growth 0.9%² for the quarter
  • Strong Lifetime annuity sales $202 million, up 37%
  • New business annuity sales tenor 8.1 years (6.1 years pcp)³
  • Moderating annuity maturity rate for the quarter 4%⁴
• Challenger Life strongly capitalised with a PCA ratio of 1.49 times⁵
• Funds Management funds under management (FUM) $114 billion, up 6% for the quarter
• Normalised net profit before tax guidance upgraded to the top end of the $555 million to $605 million FY24 guidance rang