AUB Group Limited Annual Report 2023

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

7 BUSINESS COMBINATIONS AND TRANSACTIONS INVOLVING GAIN OR LOSS OF CONTROL (CONTINUED) The fair value of the identifiable assets and liabilities recognised as a result of the acquisition of Tysers are as follows:

Tysers $’000

ASSETS Cash and Cash Equivalents

85,878 421,442 148,623 36,205 388,289

Cash and Cash Equivalents - Trust Trade and Other Receivables

Right of Use Asset Intangible Assets

Property, Plant and Equipment Deferred Acquisition Costs

10,671 10,320

Total Assets

1,101,428

LIABILITIES Trade and Other Payables

514,290

Deferred Revenue from Contracts with Customers

9,750

Provisions

173,559 37,223 76,539 811,361 290,067 939,225 154,737 175,870 85,878 421,442 (101,298)

Lease Liabilities

Deferred Tax Liability

Total Liabilities

Net Assets

Total consideration paid for interest acquired Less contingent/deferred consideration Less shares issued by AUB Group Limited

Less cash acquired

Less trust cash acquired

Payments for acquisition of Tysers, net of cash acquired Goodwill arising on acquisition related to the Group Goodwill arising on acquisition relating to non-controlling interests

649,158

2,318

ii) During the prior period, the following transactions occurred:

– Effective 1 July 2021, the Group acquired a further 8.8% of HQ Insurance Brokers Pty Ltd (HQ) for $2.74m cash. On this date the entity became a controlled entity of the Group, and the transaction resulted in a fair value gain on step up of $7.73m. – Effective 1 October 2021, the Group acquired 100% of iaAnyware Unit Trust (iaAnyware) for $18.15m cash plus estimated contingent consideration of $11.85m. iaAnyware is a leading software platform business providing licensing of their proprietary software to brokers across Australia and New Zealand. The deferred consideration is based on estimated normalised EBIT in 2 years from the acquisition date and is uncapped. – Effective 1 October 2021, a controlled entity of the Group, acquired 90% of Rosser Underwriting Limited (Rosser), including 50% from another controlled entity of the Group. On this date Rosser became a controlled entity of the Group. The Group’s effective ownership has increased by 2.3%, however control was established as the Group controls an entity which in turn controls Rosser. – Effective 30 June 2022, the Group acquired a further 5.5% of Insurance Advisernet Unit Trust (IAA) & Insurance Advisernet New Zealand Unit Trust (IAH). On this date IAA & IAH become controlled entities of the Group, and the transaction resulted in a fair value gain on step up of $29.06m.

AUB GROUP ANNUAL REPORT 2023

95