AUB Group Limited Annual Report 2023

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

9 SHARES IN CONTROLLED ENTITIES New acquisitions of controlled entities or transactions which lead to the Group obtaining or losing control in an entity during the current and previous period are disclosed in Note 7. The following transactions involve transactions between owners where there is no change in the control assessment. i) During the current period, the following transactions occurred:

Transaction date(s)

June 2023 %

June 2022 %

Entity

Increase in voting shares AUB Group NZ Ltd All other transactions Decrease in voting shares AUB Three Sixty Pty Ltd All other transactions

01-Jul-22

100.00 Various

89.30

Various

Various

01-Jan-23

49.65

52.27

Various

Various

Various

ii) During the previous period, the following transactions occurred: – On 1 October 2021 AUB Three Sixty Pty Ltd undertook a capital raise of $6m to fund the increased interest in Rosser Underwriting Limited and Anchorage Marine Underwriting Agency Pty Ltd. There were no other significant transactions between owners during the period. Other information a) All controlled entities are incorporated in Australia except for the following: – AUB Group NZ Limited (AUB NZ), AUB Three Sixty NZ Limited and Insurance Advisernet New Zealand Unit Trust and their controlled entities which are incorporated in New Zealand;

– Ludgate Limited which is incorporated in the UK; – Ludgate US Corp which is incorporated in the US; and – Colonnade Pte Ltd (Colonnade) which is incorporated in Singapore.

b) C olonnade is the Group’s insurance captive. Given the size and scale of the Group including associates, certain insurable risks are internally manageable. Furthermore, the entity provides the Group opportunities to insure certain non-insurable or hard to place risks at more equitable terms for all participants in the scheme. During the current period, insurance placed through the Colonnade covers AUB Group, some of its controlled entities and some of its associates. No external parties to the Group are part of the schemes provided by Colonnade. c) Material non-controlling interests (NCI) of the Group’s controlled entities include the following:

Non Controlling Interest %

Profit or loss attributed to minority $’000

Total NCI balance at balance date $’000

As at 30 June 2023

Principal place of business

AUB Three Sixty Pty Ltd AEI Insurance Group Pty Ltd

Australia and New Zealand

50.3 35.0

9,086 1,380

92,494 37,221

Australia

Non Controlling Interest %

Profit or loss attributed to minority $’000

Total NCI balance at balance date $’000

As at 30 June 2022 Name of controlled entity AUB Group NZ Limited AUB Three Sixty Pty Ltd

Principal place of business

New Zealand

10.7 47.7

668

17,153 81,912

Australia and New Zealand

6,542

No other NCI or minority interest is material to the Group.

AUB GROUP ANNUAL REPORT 2023

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