AUB Group Limited Annual Report 2023

DIRECTORS’ REPORT YEAR ENDED 30 JUNE 2023

BUSINESS STRATEGY AUB Group’s strategy remains consistent – exploit the latent potential in our existing business supplemented with strategically aligned and disciplined inorganic growth: – Deliver a market leading proposition for our brokers, and in-turn our clients, by investing in processes and technologies that drive efficient and effectives outcomes; – Continued focus on optimising our portfolio through consolidation and targeted involvement to improve underlying business performance; and – Manage our active pipeline of external M&A opportunities through a disciplined and strategic approach to investment. In FY24, the business will continue to evolve its focus from FY23 priorities with specific accountability for the following: – Improve and enhance New Zealand performance – Accelerated revenue and profit growth for AUB NZ’s portfolio of brokers; – Successful development, pilot and implementation of Project Lola and commencement of roll-out to NZbrokers network. – Optimise our network – Continue to optimise our portfolio of businesses to outperform by consolidating into more efficient operating entities or to expand specialistion. – Execute on strategically aligned acquisitions – Disciplined and targeted approach to acquisitions, either bolt-ons that deliver synergy benefits or to expand capabilities and footprint; – Increased investments in current network businesses to aid consolidation/optimisation. – Stabilise and optimise Tysers post acquisition – Enhance the business’ growth potential through strategic intervention in areas of opportunity to expand contribution to AUB UNPAT, including execution of proposed synergy initiatives; – Evolve the operating model to allow successful delivery of the strategic objectives and optimise costs. PROSPECTS FOR FUTURE FINANCIAL YEARS AUB Group has benefited from investment in our core capabilities, cost management and pricing tailwinds. The Group continues to hold a modest outlook on the underwriting cycle with a premise that we are in the midst of a positive phase with potential for extension considering recent ongoing losses in key global underwriting markets.

CORPORATE GOVERNANCE The 2023 Corporate Governance Statement can be found at the AUB Group website: aubgroup.com.au/corporate-governance .

AUB GROUP ANNUAL REPORT 2023

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