Notice under section 708A of Corporations Act 2001

Notice under section 708A(12H)(e) of the Corporations Act 2001

Insurance Australia Group Limited (“IAG”) will today issue NZ$400 million of subordinated notes (“Notes”) in New Zealand under a New Zealand product disclosure statement. The Notes are required to be converted into ordinary shares of IAG (“Ordinary Shares”) if APRA determines that IAG would become non-viable without such conversion (“Conversion”).