CLEARVIEW WEALTH LIMITED — Investor Presentation 2018

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4 September 2018

The Manager Companies Announcement Office Australian Securities Exchange Level 4, 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam,

ASX RELEASE – CORRECTION TO SLIDE 17 OF INVESTOR PRESENTATION

ClearView Wealth Limited refers to the “ClearView Results Year Ended 30 June 2018 Investor Presentation” released to the market on 23 August 2018. It has come to our attention that there is an error on page 17 of the Investor Presentation which we wish to clarify.

Under the heading “LifeSolutions Income Protection Lapse Experience” on the bottom left hand corner, an incorrect graph was inserted. The incorrect graph was a duplicate of the graph inserted under the heading “Total Lapse Experience” on the top left hand corner.

The correct graph has been inserted and page 17 of the Investor Presentation is now attached. We note the graph used under the same heading on page 37 in the Annual Report 2018 is correct.

ENDS

For further information please contact:

Athol Chiert Chief Financial Officer and Joint Company Secretary +61 2 8095 1306 [email protected]

About ClearView

ClearView is an ASX-listed diversified financial services company which partners with financial advisers to help Australians protect and build their wealth, achieve their goals and secure a comfortable financial future. The group’s three business segments: Life Insurance, Wealth Management and Financial Advice are focused on delivering quality products and services.

Additional information is available at www.clearview.com.au

Lapse experience

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----- Start of picture text ----- Adopting a long term view,overall lapse experienceTotal Lapse Experience¹ has an average $0.8m LifeSolutions Lump Sum Lapse Experience¹adverse impact per yearover a 5 year period.LifeSolutions has beenbroadly neutral acrossproducts over the 5 yearperiod, albeit with anupward trend in FY17 andFY18. More recent adverseexperience has been drivenby the lump sum portfolio.Key drivers that areexpected to improve lapsesrates include the LIFreforms (2 yearresponsibility period);product and pricing reviewof LifeSolutions in CY18.----- End of picture text -----

Key reasons for increased lapses from 1H FY17:Lump sum policies are generally sold together with IP and therefore resulted in some shock lapses on renewal of IP post price increases. Competitiveness of ClearView premium rates have drifted over time that will be addressed with product and pricing review in CY18 Heightened lapses in lead up to the LIF reforms, in particular policies with upfront commissions

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----- Start of picture text ----- LifeSolutions Income Protection Lapse Experience¹----- End of picture text -----

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Non-advice/Legacy Lapse Experience¹ ClearView made a strategic decision to exit Income Protection price the lower socio increases were demographic market in implemented in October HY15 and closed the Direct 2016, (+10%) to help business in FY17. Lapse manage margin over time. experience improved Lapse rates trended significantly as ClearView upwards thereafter, with exited the direct business an element of shock lapse (over time) and are likely as IP policies renewed on to further recede with the the new rates. This largely run-off of the book. washes through the Lapses however may be portfolio by December impacted in the shorter 2017. term by the direct remediation program that is underway

FY18 result impacted by adverse lapse experience of $2.1m - more recent adverse experience driven by the LifeSolutions lump sum portfolio. The repositioning and repricing of the LifeSolutions lump sum product in CY18, coupled with the impact of the LIF reforms, is expected to improve lapse performance so it fits within longer term actuarial assumptions

1. Experience measured against the assumptions applicable at the date of reporting.

17

Notes