Heartland Group Holdings Limited (Heartland) confirmed the completion of Heartland Bank Limited's (Heartland Bank's) acquisition of Challenger Bank Limited (Challenger Bank) from Challenger Limited. On 2 May 2024, Heartland will transfer Heartland Australia Holdings Pty Limited and its subsidiaries (which include Heartland Finance and StockCo Australia) (together, Heartland Australia) to Challenger Bank. From 1 May 2024, Challenger Bank will begin trading as Heartland Bank ­ a digital specialist bank (Heartland Bank (Australia)).

Heartland Bank (Australia) Board: Heartland announced the appointment of the new Heartland Bank (Australia) Board of Directors: Geoff Summerhayes has resigned from the Heartland Board and has been appointed Chair and Independent, Non-Executive Director of Heartland Bank (Australia). Shane Buggle, Lyn McGrath (who sat on the Challenger Bank Board prior to Heartland's acquisition), Vivienne Yu and Bruce Irvine (currently Chair and Independent Non-Executive Director of Heartland Bank) have been appointed Independent, Non-Executive Directors of Heartland Bank (Australia). Leanne Lazarus (currently Chief Executive Officer of Heartland Bank) and Jeff Greenslade (currently Chief Executive Officer and Executive Director of Heartland, and Non-Independent, Non-Executive Director of Heartland Bank) have been appointed Non-Independent, Non-Executive Directors of Heartland Bank (Australia).

Heartland Bank (Australia) Management: Heartland confirmed the appointment of Michelle Winzer as Chief Executive Officer of Heartland Bank (Australia) will be effective from 22 July 2024. Chris Flood has been appointed Acting Chief Executive Officer of Heartland Bank (Australia), effective 1 May 2024 and ceased being a senior manager of Heartland. Chris is expected to return to his role as Deputy Chief Executive Officer of Heartland later in the 2024 calendar year, allowing time for a comprehensive handover with Michelle.

Michelle and Chris will be supported by a management team with extensive experience in banking and financial services. Heartland Board: Heartland also confirmed that John Harvey has been appointed to the Heartland Board as an Independent, Non-Executive Director. John remains on the Heartland Bank Board as a Non- Independent, Non-Executive Director.

Following the announcement on 8 April 2024 of her intention to resign, Heartland confirmed that the resignation of Independent, Non-Executive Director, Ellie Comerford, will be effective from 26 June 2024. Ellie has served on Heartland Boards for more than seven years. Heartland is well progressed in its recruitment of new Australian candidates for the Heartland Board and a further market update will be provided in due course.