ONEANSWER PERSONAL SUPER AND PENSION. Fees Guide 18 September 2017

ONEANSWER PERSONAL SUPER AND PENSION Fees Guide 18 September 2017

ENTITY DETAILS IN THIS FEES GUIDE Name of legal entity Registered numbers Abbreviated terms used throughout the PDS OnePath MasterFund ABN 53 789 980 697, RSE R1001525, SFN 2929 169 44 Fund, Superannuation Entity OnePath Custodians Pty Limited ABN 12 008 508 496, AFSL 238346, RSE L0000673 OnePath Custodians, Trustee, us, we, our OnePath Life Limited ABN 33 009 657 176, AFSL 238341 OnePath Life, Insurer Australia and New Zealand Banking Group Limited ABN 11 005 357 522, AFSL 234527 ANZ IMPORTANT INFORMATION OneAnswer Personal Super and OneAnswer Pension are products offered by the Fund. When you invest in OneAnswer Personal Super or OneAnswer Pension, you become a member of the Fund. OnePath Custodians is the trustee of the Fund and is the issuer of this Fees Guide (Guide). The issuer is a wholly owned subsidiary of ANZ. ANZ is an authorised deposit taking institution (Bank) under the Banking Act 1959 (Cth). Although the issuer of this product is owned by ANZ, it is not a Bank. Except as described in this Guide, an investment in OneAnswer Personal Super or OneAnswer Pension is not a deposit or other liability of ANZ or its related group companies, and none of them stands behind or guarantees the issuer or the capital or performance of your investment. Your investment is subject to investment risk, including possible repayment delays and loss of income and principal invested. The information provided in this Guide is of a general nature and has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, you should consider the appropriateness of the advice, having regard to your objectives, financial situation and needs. You should obtain a copy of the PDS for OneAnswer Personal Super and Pension before making any decision whether to acquire, or to continue to hold the product. You can obtain a copy of the PDS by contacting Customer Services on 133 665. The Fund is governed by a trust deed (Trust Deed). Together with superannuation law, the Trust Deed sets out the rules and procedures under which the Fund operates and the Trustee s duties and obligations. If there is any inconsistency between the Trust Deed and the PDS, or this Guide, the terms of the Trust Deed prevail. A copy of the Trust Deed is available from the issuer free of charge. The Trustee invests all contributions in a master life policy issued by OnePath Life which then invests in selected investment funds. This policy is governed by the Life Insurance Act 1995 and is a contract between the Trustee and OnePath Life. OnePath Life is required to conduct its business in accordance with the law and give priority to the interests of policy holders, invest all of the assets it receives from the Trustee in statutory funds approved by the Australian Prudential Regulation Authority (APRA) and comply with the prescribed capital and solvency standards. OnePath Life is also the administrator of the Fund. The Trustee relies on a number of third parties for the provision of specialist services in respect of the Fund. The Trustee is responsible for the contents of this Guide. ANZ Prime Cash Management Account (ANZ Prime CMA) is a financial product issued by ANZ through OneAnswer Pension. Before deciding to acquire or hold the ANZ Prime CMA, ANZ recommends you read the relevant terms and conditions contained in the ANZ Savings & Transaction Products Terms and Conditions and ANZ Personal Banking Account Fees & Charges, which are available by calling ANZ on 13 13 14 or visiting anz.com In this Guide the term financial adviser refers to your financial adviser or the Australian Financial Services licensee which your adviser represents. The terms investment fund and investment option are used interchangeably in this Guide. 2

The following information in this document forms part of the Product Disclosure Statement (PDS) dated 18 September 2017 for OneAnswer Personal Super and Pension. Its purpose is to give you more information and/or specific terms and conditions referred to in the PDS. You should consider all that information before making a decision about OneAnswer Personal Super and Pension. If you invest in OneAnswer Personal Super and Pension, you can access a copy of the PDS, this Guide and any other matter that is applied, adopted or incorporated in the PDS from our website at onepath.com.au. The Trustee may update information that is not materially adverse to you. You can request a copy of this updated information free of charge by contacting Customer Services or your financial adviser. The information provided in this Guide is general information only and does not take account of your personal financial situation or needs. You should obtain financial advice tailored to your personal circumstances. CONTENTS Section Page Fees and other costs 3 Additional explanation of fees and costs 5 FEES AND OTHER COSTS This document shows the fees and other costs that you may be charged. These fees and other costs may be deducted from your money, from the returns on your investment or from the assets of the Superannuation Entity as a whole. Other fees, such as activity fees, advice fees for personal advice and insurance fees, may also be charged, but these will depend on the nature of the activity, advice or insurance chosen by you. Taxes, insurance fees and other costs relating to insurance are set out in another part of this document. You should read all the information about fees and other costs because it is important to understand their impact on your investment. The fees and other costs for each investment option offered by the Superannuation Entity, are set out on pages 9 to 14. 3

OneAnswer Personal Super and Pension Type of fee Amount How and when paid Investment fee Administration fee Buy-sell spread Ongoing Fee ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime CMA nil Ongoing Fee for other investment funds: Personal Super and TTR Pension 2.29% p.a. to 3.54% p.a. of the amount invested in each investment fund, depending on the investment fund. Pension 2.24% p.a. to 3.45% p.a. of the amount invested in each investment fund, depending on the investment fund. Rebates effectively reduce the Ongoing Fee charged and apply to account balances* over $100,000. An additional rebate of 0.75% p.a. is applied to all account balances* after four years of each investment. A Member Fee applies to accounts with balances* under $10,000: Personal Super $56.47 p.a. Pension $48 p.a. ($56.47 p.a. for TTR Pension) Plus: Levies and expense recoveries** 0.03% p.a for 12 months to 30 June 2017. Estimated to be up to 0.08% p.a. for the 12 months to 30 June 2018. Nil to 1.00% of the amounts invested in or withdrawn from an investment fund depending on the investment fund. The buy-sell spreads for each investment fund are available in the Buy-Sell Spread Guide at onepath.com.au > Forms & brochures > OneAnswer Personal Super The Ongoing Fee is deducted from the assets of each investment fund and included in the daily unit price. Rebates are calculated and credited as additional units to your account balance on or about the monthly anniversary of your account. The Member Fee is deducted from your account balance annually on or about the anniversary of your account. Levies and expense recoveries are deducted from the assets of each investment fund annually and included in the unit price. A buy-sell spread is an additional cost reflected in the daily unit prices for an investment fund and is not charged separately. As your account is valued using the sell unit price, all investments into an investment option will be reduced by the total value of the buy-sell spread at the time of the transaction. Switching fee^ Nil Not applicable. Exit fee ANZ Term Deposits, ANZ Cash Advantage and and ANZ Prime CMA nil. All other investment funds: Personal Super 3.53% of any amount withdrawn within three years of each contribution. Pension 3% (3.53% p.a. before tax for TTR Pension) of any amount withdrawn within three years of the initial investment. Deducted from each withdrawal you make from any investment fund within the first three years of each investment at the time of the withdrawal. Advice fees Relating to all members investing in a particular investment option. Other fees and costs Nil This amount may vary depending on the activity. You may choose to have an Adviser Service Fee (ASF) for personal advice, as agreed individually between you and your financial adviser. Dishonour fee of $11.76 (Personal Super only). Not applicable. An ASF paid to your financial adviser can be nominated as either a fixed dollar amount or as a percentage of your account balance or of each investment. Ongoing ASFs are calculated and deducted from your account on or about the day of the month corresponding to when your account commenced on either a monthly, quarterly or annual basis. One-off ASFs can be deducted as a fixed dollar amount or percentage of your initial or additional investment calculated at the date of processing or as a percentage of the total account balance at any other time. The dishonour fee is charged on your OneAnswer Personal Super account where any payment made by direct debit is dishonoured. Indirect cost ratio Indirect costs estimated to be from 0% to 1.44% p.a. of the amount invested in each investment fund. Indirect costs for some investment funds include performance related fees estimated to range from 0% to 1.22% p.a., depending on the investment fund. The performance related fees for each investment fund are on page 8 of this Guide. Note: The indirect cost ratio amounts set out above are based on the estimated indirect costs for the 12 months to 30 June 2017. Indirect costs are variable and are deducted from the underlying assets of the investment option as and when they are incurred. These indirect costs are not an additional fee. Rather they are reflected in the returns payable from the underlying investments and as such are included in the unit price. Performance related fees are deducted from the underlying assets of the investment fund when due and payable. The fees set out in this table are not negotiable except for Adviser Service Fees. * Based on an account balance excluding amounts invested in ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime Cash Management Account (ANZ Prime CMA). ** Excludes amounts invested in ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime CMA. Refer to the Additional Explanation of Fees and Costs section of this Fees Guide for details of other fees and costs which apply, including ASFs. ^ Although no Switching fee applies, normal buy-sell spreads apply to switches in and out of investment options. You may agree individually with your financial adviser to pay a fee for the service and advice they provide in relation to your investment and to have this deducted from your OneAnswer account. Refer to Financial adviser payments on page 15. 4

ADDITIONAL EXPLANATION OF FEES AND COSTS Defined Fees Fee type Activity fee Administration fee Advice fee Buy-sell spreads Exit fee Insurance fee Indirect cost ratio Investment fee Switching fee Definition A fee is an Activity fee if it relates to costs incurred by the Trustee directly related to an activity of the Trustee that is engaged in at your request or with your consent or that relates to you and is required by law (and are not otherwise charged as an Administration fee, an Investment fee, a Buy-sell spread, a Switching fee, an Exit fee, an Advice fee or an Insurance fee). An Administration fee is a fee that relates to the administration or operation of the Fund and includes costs incurred, which relate to the administration or operation of the Fund. An Administration fee does not include borrowing costs, costs paid out of an underlying entity that have been included in the indirect cost ratio or amounts charged as an Investment fee, a Buy-sell spread, a Switching fee, an Exit fee, an Activity fee, an Advice fee or an Insurance fee. A fee is an Advice fee if it relates directly to costs incurred by the Trustee because of the provision of financial product advice to a member by the Trustee or another person acting as the employee or under an arrangement with the Trustee (and those costs are not otherwise charged as an Administration fee, an Investment fee, a Switching fee, an Exit fee, an Activity fee or an Insurance fee). A Buy-sell spread is a fee to recover transaction costs incurred by the Fund in relation to the sale and purchase of assets of the Fund. An Exit fee is a fee to recover the costs of disposing of all or part of your interests in the Fund. A fee is an Insurance fee if: it relates directly to either or both of the following: Insurance premiums paid by the Trustee in relation to a member or members of the Fund; costs incurred by the Trustee in relation to the provision of insurance for a member or members of the Fund; and it does not relate to any part of a premium paid or cost incurred in relation to a life policy or a contract of insurance that relates to a benefit to the member that is based on the performance of an investment rather than the realisation of a risk; and the premium and costs to which it relates are not otherwise charged as an Administration fee, an Investment fee, a Switching fee, an Exit fee, an Activity fee or an Advice fee. The indirect cost ratio (ICR), for a product or an investment option offered by a superannuation entity, is the ratio of the total of the indirect costs for the product or investment option, to the total average net assets of the superannuation entity attributed to the product or investment option. Note: A fee deducted directly from a member s account or paid out of the superannuation entity is not included in the indirect cost ratio. An Investment fee is a fee that relates to the investment of the assets of the Fund and includes fees in payment for the exercise of care and expertise in the investment of those assets and costs incurred by the Trustee that relate to the investment of assets of the Fund. The investment fee does not include borrowing costs, costs paid out of an underlying entity that have been included in the indirect cost ratio or amounts or costs that are charged as an Administration fee, a Buy-sell spread, a Switching fee, an Exit fee, an Activity fee, an Advice fee or an Insurance fee. A Switching fee is a fee to recover the costs of switching all or part of your interest in the Fund from one investment option or product in the Fund to another. Further Information Where an income tax deduction is available under the applicable laws and is to be claimed by the Fund or OnePath Life in respect of those fees and costs specifically listed in the table on the previous page or any insurance fees deducted from your account, the benefit of that income tax deduction will be passed on to you. Investment Fees Investment Fees are deducted from the asset of each investment fund and included in the unit price. The investment fee (Ongoing Fee) includes the costs of managing the Fund and the underlying fund manager s Investment Management Fee. Each investment fund s Investment Management Fee (IMF), charged by the underlying fund manager, includes the fees, charges and some estimated expense recoveries which relate specifically to the management of each investment fund. The IMFs are part of the Ongoing Fees listed in the tables on pages 9 to 14 of this Guide and are not a fee or charge of the Trustee. The IMFs are subject to change by the fund manager without notice and can vary over time. This may affect the Ongoing Fee and rate of return of an investment fund. Ongoing Fee rebate Ongoing Fee rebates apply to account balances over $100,000, thereby reducing the Ongoing Fee payable. The rebate is based on your total account balance, excluding investments in ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime CMA. 5

The rebate is credited as additional units to your account on or about the monthly anniversary of your account. It is calculated based on your account balance at that date. The rebates paid are set out in the following table: Account balance Ongoing Fee rebate p.a. Personal Super and TTR Pension Pension First $100,000 Nil Nil Next $100,000 0.235% 0.20% Next $100,000 0.471% 0.40% Amounts over $300,000 0.706% 0.60% Ongoing Fee rebates may be increased if you negotiate or your financial adviser agrees to a partial or full rebate of ongoing commission. Example: How an Ongoing Fee rebate is calculated Harry is in OneAnswer Pension and has the following investments: ANZ Cash Advantage $30,000* OnePath Balanced $140,000 OnePath Australian Shares $60,000 OptiMix Moderate $60,000 Vanguard International Shares Index $60,000 Total account balance $350,000 The Ongoing Fee rebate is calculated as follows: Account balance Rebate calculation Ongoing Fee rebate First $100,000 $100,000 x 0.00% p.a. $0 Next $100,000 $100,000 x 0.20% p.a. $200 Next $100,000 $100,000 x 0.40% p.a. $400 Amounts over $300,000 $20,000 x 0.60% p.a. $120 Total rebate $720 p.a.* ($60 per month) * The balance of ANZ Cash Advantage is excluded from the calculation of the Ongoing Fee rebate. Note: This example is illustrative only and should not be regarded as a forecast for your investment, nor regarded as indicative of future performance. Nil Entry Fee rebate For the Nil Entry Fee option, a rebate of 0.75% p.a. will be credited as additional units to your account on an ongoing basis after four years of each investment. The rebate will be added based on the account balance of your investment (excluding investments in ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime CMA) after it has been invested for four years or more. This rebate is in addition to any other rebates that may apply to your investment. Example: How a Nil Entry Fee rebate is calculated Mark invested into OnePath Balanced in OneAnswer Personal Super on 1 July 2014. From 1 July 2018, assuming his account balance from that original investment is $150,000, Mark is entitled to a Nil Entry Fee rebate as follows: $150,000 x 0.75% = $1,125 p.a. It is important to note that Mark is still entitled to an Ongoing Fee rebate of $117.50 p.a. in addition to the Nil Entry Fee rebate. Note: This example is illustrative only and should not be regarded as a forecast for your investment, nor regarded as indicative of future performance. Administration fee A dollar based fee (Member Fee) is charged plus any applicable levies and expense recoveries deducted in the 12 months to 30 June each year. Member Fee The Member Fee is an account keeping fee that applies where an account balance is under $10,000. Personal Super A Member Fee of $56.47 p.a. ($48 p.a. after tax) applies where your total account balance (excluding investments in ANZ Term Deposits and ANZ Cash Advantage) is under $10,000. Pension A Member Fee of $48 p.a. ($56.47 p.a. before tax for transition to retirement (TTR) Pension) where your total account balance (excluding investments in ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime CMA) is under $10,000. For investments solely in ANZ Prime CMA, ANZ Cash Advantage and ANZ Term Deposits the Member Fee will not apply. The fee will be deducted on an annual basis on or about the date corresponding to the commencement date of your account, or pro-rated upon full withdrawal from your OneAnswer Personal Super or OneAnswer Pension account (excluding investments in ANZ Prime CMA, ANZ Cash Advantage and ANZ Term Deposits). Levies and expense recoveries Where appropriate, levies will be deducted annually to recover some of the costs associated with government supervision and reform activities within the superannuation industry. For example the Australian Prudential Regulation Authority (APRA) levy. This levy is based on your account balance on the date the levy is charged and was 0.01% p.a. for each investment fund (excluding investments in ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime CMA which were 0%) for the 12 months to 30 June 2017. Estimated to be up to 0.01% p.a. for the 12 months to 30 June 2018 (excluding investments in ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime CMA which will be 0%). 6

An expense recovery is charged to recover some of the costs incurred to comply with the Government s superannuation regulatory reforms. This charge is based on your account balance on the date it is charged and was 0.02% p.a. for each investment fund (excluding investments in ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime CMA which were 0%) for the 12 months to 30 June 2017. Estimated to be up to 0.07% p.a. for the 12 months to 30 June 2018 (excluding investments in ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime CMA which will be 0%). Note: Past costs are not a reliable indicator of future costs. Buy-sell spreads The buy-sell spread is used to allocate buy and sell transaction costs to a member who is transacting rather than to members in a particular investment fund who are not transacting. As the proceeds from a buy-sell spread are retained as part of the assets of an investment fund, no part of it is paid to us or to an underlying fund manager. A buy-sell spread up to a maximum of 1.00% may apply to amounts invested or withdrawn from an investment fund. These spreads are incorporated in the buy and sell unit prices. The buy and sell spreads for each investment fund are available in the Buy-Sell Spread Guide at Forms & brochures > OneAnswer Personal Super. For example, for every $1,000 that you invest in the Vanguard Growth Index fund, the buy spread you incur is currently 0.03% or $0.30. This amount is reflected in the buy unit price at the time the units are purchased. At all times your account balance is valued at the sell unit price which incorporates the sell spread. In the same example, the value of the investment of $1,000 will also take into account the sell spread of 0.03% or $0.30. This means that the total spread cost for the example $1,000 investment will be 0.06% or $0.60. Where a buy-sell spread is charged for an investment fund, the amounts recovered by this charge are used to help offset some of the gross transaction costs incurred by the investment fund for buying and selling the underlying securities. Gross transaction costs include, but are not limited to, the following: Brokerage costs the amount paid to a broker when buying and selling underlying securities, e.g. shares and derivatives. For example trading costs charged by brokers on purchases or sales of shares, stamp duty charged on security purchases etc. These costs are incurred when the underlying fund managers actively trade investments as part of the ongoing management of the investment. Custody fees fees paid to a custodian to hold the assets of the underlying funds and to manage transaction settlements. Stamp duty generally levied on the transfer of assets or property Bid/offer spreads the difference between the price a buyer is willing to pay (the bid price) and the price a seller is willing to accept (the offer price) for a particular security. These are usually incurred by investment managers buying and selling fixed income securities, foreign currency conversions and listed equities. The table on pages 18 to 21 provides a breakdown of the transactions costs for each investment fund. Indirect Cost Ratio Indirect costs include any amounts that have been deducted from your investment and covers amounts that have reduced the return on your investment but are not charged as a fee. The total of indirect costs is used to calculate the Indirect Cost Ratio (ICR). Transaction costs Transaction costs are costs incurred by the Fund and relate to the investment of assets into the underlying funds of each investment fund. Transaction costs are an additional cost to you, however they are deducted from the assets of the investment fund at the time they are incurred and are reflected in the unit price of each investment fund, rather than as a fee deducted from your account. Total transaction costs are referred to as gross transactions costs and in certain circumstances may be offset by amounts recovered. 7

Performance related fees We do not charge performance fees directly. However, performance fees may be payable from the underlying investment fund to the fund manager. These are referred to as performance related fees. These increase the ICR and are an additional cost to you. The fund manager may charge a performance related fee if the underlying investment fund outperforms the relevant investment benchmark. Any change in a performance related fee will change that investment fund s indirect cost. The investment funds with performance related fees, their relevant benchmarks and estimated performance related fees for the 12 months to 30 June 2017 are noted in the following table. Benchmark Performance fee Estimated Performance related fee^ % p.a. Antipodes Global (Long only) MSCI All Country World Net Index in AUD. 15% of outperformance above the benchmark. 1.22 Ausbil Australian Emerging Leaders 70% S&P/ASX Midcap 50 Accumulation Index and 30% S&P/ASX Small Ordinaries Accumulation Index. 15.375% of outperformance above the benchmark plus 0.85% p.a. 0.00 Greencape Broadcap S&P/ASX 300 Accumulation Index. 15% of outperformance above the benchmark. 0.00 Magellan Global Dual Hurdle of the MSCI World Net Total Return (AUD) ( Index Relative Hurdle ) and the yield of 10-year Australian Government Bonds ( Absolute Return Hurdle ). OnePath Alternatives Growth* 10% of the excess return above the higher of the Index Relative Hurdle and the Absolute Return Hurdle over each 6 monthly period ending 31 December and 30 June, subject to the High Water Mark being met for the relevant period. 0.14 For the GMO Systematic Global Macro fund the benchmark is the Bloomberg AusBond Bank Bill Index. 20.111% of outperformance above the benchmark. 0.63 For the Man AHL Alpha fund the performance fee is not linked to a benchmark index. RARE Infrastructure Value 25% of the increase in net asset value over the previous highest closing net asset value subject to a High Water Mark. 0.00 An accumulation index comprising the OECD G7 Inflation Index plus 5.5% per annum. 10.25% of the investment returns made in excess of the benchmark, subject to a High Water Mark. 0.30 ^ The Performance related fees are an estimate based on the performance fees of the underlying investment managers for the 12 months to 30 June 2017. Past costs are not a reliable indicator of future costs. The performance fee payable may differ from year to year. For example, for every $1,000 you invested in the Magellan Global fund, a $1.40 performance fee would have been charged for the year ending 30 June 2017. This example is illustrative only. If a period of underperformance to the benchmark occurs, the performance fee accrued is frozen at its current level and further performance fees do not start accruing again until the full amount of underperformance is recouped. * The other underlying funds are not listed here as they do not charge a performance fee. The total performance related fees will not exceed 0.30% of the average of the daily net asset value of the fund in any financial year. Performance related fees are reflected as a reduction in the returns generated by the underlying investment fund. Therefore, the value of your investment in the applicable investment fund will be impacted by any performance related fees. The performance fee for Antipodes Global (Long only) is accrued daily and payable half yearly. The performance fee for Ausbil Australian Emerging Leaders is accrued daily and payable monthly in arrears. The performance fee for Greencape Broadcap, Magellan Global and RARE Infrastructure Value is accrued daily and payable half-yearly. For OnePath Alternatives Growth, the performance fee for GMO Systematic Global Macro is payable half yearly and the performance fee for Man AHL Alpha fund is payable monthly in arrears. 8

Total Ongoing Fees and Costs for each investment fund Personal Super The following table lists the total Ongoing Fees and costs for each investment fund offered through OneAnswer Personal Super. These costs are based on estimated costs for the financial year ending 30 June 2017 and may vary in the future. It is important to remember that past costs are not a reliable indicator of future costs. Note: The Estimated Indirect Cost Ratio in the following table is equal to the estimated costs affecting returns in the table on pages 18 to 21 and any applicable performance related fees listed in the table on page 8. As previously stated, your account may be subject to other fees and costs in addition to the total Ongoing Fees and costs for each applicable investment fund listed below. Total Ongoing Fees and Costs Investment fund (A) Ongoing Fee (B) Estimated Indirect Cost Ratio (C = A + B) Total Fees & Costs Multi-manager investment funds Investor Profile 1 Defensive OnePath Capital Guaranteed 2.75 0.00 2.75 Investor Profile 2 Conservative OnePath Capital Stable 2.90 0.11 3.01 OnePath Conservative 2.55 0.19 2.74 OptiMix Australian Fixed Interest 2.62 0.00 2.62 OptiMix Conservative 2.74 0.21 2.95 Investor Profile 3 Moderate OnePath Balanced 2.70 0.24 2.94 OptiMix Moderate 2.80 0.25 3.05 Investor Profile 4 Growth OnePath Active Growth 2.70 0.25 2.95 OnePath Managed Growth 2.70 0.26 2.96 OptiMix Balanced 2.82 0.27 3.09 OptiMix Growth 2.89 0.27 3.16 Investor Profile 5 High growth Property OptiMix Property Securities 2.88 0.05 2.93 Australian shares OptiMix Australian Shares 2.88 0.04 2.92 Global shares OptiMix Global Emerging Markets Shares 3.15 0.06 3.21 OptiMix Global Shares 3.09 0.04 3.13 OptiMix Global Smaller Companies Shares 3.19 0.35 3.54 Multi-sector OnePath High Growth 2.70 0.20 2.90 OptiMix High Growth 2.98 0.21 3.19 Single manager investment funds Investor Profile 1 Defensive ANZ Cash Advantage Nil Nil Nil ANZ Term Deposits Nil Nil Nil Investor Profile 2 Conservative BT Monthly Income Plus 2.75 0.01 2.76 Kapstream Absolute Return Income 2.53 0.08 2.61 9

Total Ongoing Fees and Costs Investment fund (A) Ongoing Fee (B) Estimated Indirect Cost Ratio (C = A + B) Total Fees & Costs Single manager investment funds (continued) Investor Profile 2 Conservative (continued) OnePath Diversified Fixed Interest 2.55 0.16 2.71 Perpetual Conservative Growth 2.85 0.24 3.09 Schroder Fixed Income 2.48 0.06 2.54 UBS Diversified Fixed Income 2.57 0.03 2.60 Vanguard Conservative Index 2.29 0.03 2.32 Vanguard Diversified Bond Index 2.30 0.06 2.36 Investor Profile 3 Moderate Colonial First State Global Credit Income 2.53 0.19 2.72 Janus Henderson Global Fixed Interest Total Return 2.86 0.52 3.38 Schroder Real Return 2.82 0.05 2.87 T.Rowe Price Dynamic Global Bond 2.45 0.72 3.17 UBS Defensive 2.83 0.12 2.95 Vanguard Balanced Index 2.36 0.03 2.39 Investor Profile 4 Growth Bentham Global Income 2.84 0.02 2.86 BlackRock Balanced 2.83 0.87 3.70 BlackRock Scientific Diversified Growth 2.73 0.81 3.54 OnePath Alternatives Growth** 2.90 0.45 3.35 OnePath Diversified High Yield 2.55 0.14 2.69 OnePath Tax Effective Income 2.70 0.01 2.71 Perpetual Balanced Growth 2.95 0.34 3.29 Schroder Balanced 2.84 0.18 3.02 UBS Balanced 2.93 0.20 3.13 Vanguard Growth Index 2.40 0.03 2.43 Investor Profile 5 High growth Property OnePath Global Property Securities Index 2.53 0.03 2.56 OnePath Property Securities 2.70 0.08 2.78 Vanguard Australian Property Securities Index 2.33 0.01 2.34 Australian shares Ausbil Australian Emerging Leaders* 2.78 0.54 3.32 Bennelong Australian Equities 2.80 0.25 3.05 BlackRock Scientific Australian Equity 2.73 0.00 2.73 BT Core Australian Shares 2.80 0.12 2.92 BT Smaller Companies 2.98 0.43 3.41 Colonial First State Imputation 2.82 0.36 3.18 Fidelity Australian Equities 2.85 0.03 2.88 10

Total Ongoing Fees and Costs Investment fund (A) Ongoing Fee (B) Estimated Indirect Cost Ratio (C = A + B) Total Fees & Costs Single manager investment funds (continued) Investor Profile 5 High growth (continued) Greencape Broadcap* 2.83 0.06 2.89 Investors Mutual Australian Shares 2.82 0.09 2.91 Janus Henderson Australian Equity 2.87 0.04 2.91 Merlon Australian Share Income 2.90 0.61 3.51 Nikko AM Australia Shares 2.82 0.26 3.08 OnePath Australian Shares 2.70 0.15 2.85 OnePath Blue Chip Imputation 2.70 0.10 2.80 OnePath Emerging Companies 2.70 0.09 2.79 OnePath Geared Australian Shares Index 3.10 0.50 3.60 OnePath Select Leaders 2.70 0.07 2.77 OnePath Sustainable Investments Australian Shares 2.60 0.07 2.67 Perennial Value Shares 2.82 0.07 2.89 Perpetual Australian Shares 2.95 0.21 3.16 Perpetual Ethical SRI 3.12 0.19 3.31 Schroder Australian Equity 2.82 0.03 2.85 Vanguard Australian Shares Index 2.32 0.00 2.32 Global shares Altrinsic Global Equities 3.02 0.02 3.04 Antipodes Global (Long only)* 2.81 1.44 4.25 Arrowstreet Global Equity (Hedged) 2.87 0.33 3.20 BlackRock Scientific International Equity 2.83 0.00 2.83 BT Core Hedged Global Shares 2.80 0.09 2.89 Magellan Global* 3.35 0.14 3.49 MFS Global Equity 2.85 0.00 2.85 OnePath Global Emerging Markets Shares 2.80 0.16 2.96 OnePath Global Shares 2.80 0.01 2.81 Platinum Asia 3.54 0.32 3.86 Platinum International 3.54 0.12 3.66 Stewart Investors WorldWide Sustainablility 3.15 0.08 3.23 T. Rowe Price Global Equity 3.15 0.18 3.33 Vanguard International Shares Index 2.34 0.01 2.35 Vanguard International Shares Index (Hedged) 2.34 0.07 2.41 Walter Scott Global Equity (Hedged) 3.18 0.03 3.21 Multi-sector Vanguard High Growth Index 2.45 0.02 2.47 Infrastructure Colonial First State Global Listed Infrastructure 2.85 0.26 3.11 RARE Infrastructure Value* 3.00 0.61 3.61 This is the Ongoing Fee charged on the net assets of the investment fund. Assuming a gearing ratio of 50%, this would represent an Ongoing Fee on gross assets of 1.55% p.a. * Performance related fees may apply to this investment fund. Refer to Performance Related Fees on page 8. ** The indirect cost includes a performance related fee for GMO Systematic Global Macro fund based on a 30% allocation to this underlying fund. The other underlying fund managers did not charge a performance related fee in the 12 months to 30 June 2017. 11

Total Ongoing Fees and Costs for each investment fund Pension The following tables lists the total Ongoing Fees and costs for each investment fund offered through OneAnswer Pension. These costs are based on estimated costs for the financial year ending 30 June 2017 and may vary in the future. It is important to remember that past costs are not a reliable indicator of future costs. Note: The Estimated Indirect Cost Ratio in the following table is equal to the estimated costs affecting returns in the table on pages 18 to 21 and any applicable performance related fees listed in the table on page 8. As previously stated, your account may be subject to other fees and costs in addition to the total Ongoing Fees and costs for each applicable investment fund listed below. Total Ongoing Fees and Costs Investment fund (A) Ongoing Fee (B) Estimated Indirect Cost Ratio (C = A + B) Total Fees & Costs Multi-manager investment funds Investor Profile 1 Defensive OnePath Capital Guaranteed 2.55 0.00 2.55 Investor Profile 2 Conservative OnePath Conservative 2.40 0.19 2.59 OnePath Stable 2.40 0.11 2.51 OptiMix Australian Fixed Interest 2.51 0.00 2.51 OptiMix Conservative 2.61 0.21 2.82 Investor Profile 3 Moderate OnePath Balanced 2.55 0.24 2.79 OptiMix Moderate 2.67 0.25 2.92 Investor Profile 4 Growth OnePath Active Growth 2.55 0.25 2.80 OnePath Managed Growth 2.55 0.26 2.81 OptiMix Balanced 2.69 0.27 2.96 OptiMix Growth 2.74 0.27 3.01 Investor Profile 5 High growth Property OptiMix Property Securities 2.73 0.05 2.78 Australian shares OptiMix Australian Shares 2.73 0.04 2.77 Global shares OptiMix Global Emerging Markets Shares 3.10 0.06 3.16 OptiMix Global Shares 2.91 0.04 2.95 OptiMix Global Smaller Companies Shares 3.00 0.35 3.35 Multi-sector OnePath High Growth 2.55 0.20 2.75 OptiMix High Growth 2.82 0.21 3.03 Single manager investment funds Investor Profile 1 Defensive ANZ Cash Advantage Nil Nil Nil ANZ Prime Cash Management Account Nil Nil Nil ANZ Term Deposits Nil Nil Nil Investor Profile 2 Conservative 12 BT Monthly Income Plus 2.70 0.01 2.71 Kapstream Absolute Return Income 2.44 0.08 2.52

Total Ongoing Fees and Costs Investment fund (A) Ongoing Fee (B) Estimated Indirect Cost Ratio (C = A + B) Total Fees & Costs Single manager investment funds (continued) Investor Profile 2 Conservative (continued) OnePath Diversified Fixed Interest 2.40 0.16 2.56 Perpetual Conservative Growth 2.75 0.24 2.99 Schroder Fixed Income 2.40 0.06 2.46 UBS Diversified Fixed Income 2.48 0.03 2.51 Vanguard Conservative Index 2.24 0.03 2.27 Vanguard Diversified Bond Index 2.25 0.06 2.31 Investor Profile 3 Moderate Colonial First State Global Credit Income 2.45 0.19 2.64 Janus Henderson Global Fixed Interest Total Return 2.81 0.52 3.33 Schroder Real Return 2.75 0.05 2.80 T.Rowe Price Dynamic Global Bond 2.37 0.72 3.09 UBS Defensive 2.75 0.12 2.87 Vanguard Balanced Index 2.28 0.03 2.31 Investor Profile 4 Growth Bentham Global Income 2.75 0.02 2.77 BlackRock Balanced 2.75 0.87 3.62 BlackRock Scientific Diversified Growth 2.65 0.81 3.46 OnePath Alternatives Growth** 2.85 0.45 3.30 OnePath Diversified High Yield 2.40 0.14 2.54 OnePath Tax Effective Income 2.55 0.01 2.56 Perpetual Balanced Growth 2.85 0.34 3.19 Schroder Balanced 2.75 0.18 2.93 UBS Balanced 2.85 0.20 3.05 Vanguard Growth Index 2.32 0.03 2.35 Investor Profile 5 High growth Property OnePath Global Property Securities Index 2.48 0.03 2.51 OnePath Property Securities 2.55 0.08 2.63 Vanguard Australian Property Securities Index 2.24 0.01 2.25 Australian shares Ausbil Australian Emerging Leaders* 2.70 0.54 3.24 Bennelong Australian Equities 2.75 0.25 3.00 BlackRock Scientific Australian Equity 2.65 0.00 2.65 BT Core Australian Shares 2.75 0.12 2.87 BT Smaller Companies 2.92 0.43 3.35 Colonial First State Imputation 2.75 0.36 3.11 Fidelity Australian Equities 2.80 0.03 2.83 13

Total Ongoing Fees and Costs Investment fund (A) Ongoing Fee (B) Estimated Indirect Cost Ratio (C = A + B) Total Fees & Costs Single manager investment funds (continued) Investor Profile 5 High growth (continued) Greencape Broadcap* 2.75 0.06 2.81 Investors Mutual Australian Shares 2.75 0.09 2.84 Janus Henderson Australian Equity 2.82 0.04 2.86 Merlon Australian Share Income 2.85 0.61 3.46 Nikko AM Australia Shares 2.75 0.26 3.01 OnePath Australian Shares 2.55 0.15 2.70 OnePath Blue Chip Imputation 2.55 0.10 2.65 OnePath Emerging Companies 2.55 0.09 2.64 OnePath Geared Australian Shares Index 3.10 0.50 3.60 OnePath Select Leaders 2.55 0.07 2.62 OnePath Sustainable Investments Australian Shares 2.55 0.07 2.62 Perennial Value Shares 2.75 0.07 2.82 Perpetual Australian Shares 2.85 0.21 3.06 Perpetual Ethical SRI 3.07 0.19 3.26 Schroder Australian Equity 2.75 0.03 2.78 Vanguard Australian Shares Index 2.24 0.00 2.24 Global shares Altrinsic Global Equities 2.97 0.02 2.99 Antipodes Global (Long only)* 2.73 1.44 4.17 Arrowstreet Global Equity (Hedged) 2.80 0.33 3.13 BlackRock Scientific International Equity 2.75 0.00 2.75 BT Core Hedged Global Shares 2.75 0.09 2.84 Magellan Global* 3.25 0.14 3.39 MFS Global Equity 2.75 0.00 2.75 OnePath Global Emerging Markets Shares 2.65 0.16 2.81 OnePath Global Shares 2.65 0.01 2.66 Platinum Asia 3.45 0.32 3.77 Platinum International 3.45 0.12 3.57 Stewart Investors WorldWide Sustainablility 3.10 0.08 3.18 T. Rowe Price Global Equity 3.10 0.18 3.28 Vanguard International Shares Index 2.26 0.01 2.27 Vanguard International Shares Index (Hedged) 2.26 0.07 2.33 Walter Scott Global Equity (Hedged) 3.13 0.03 3.16 Multi-sector Vanguard High Growth Index 2.36 0.02 2.38 Infrastructure Colonial First State Global Listed Infrastructure 2.80 0.26 3.06 RARE Infrastructure Value* 2.95 0.61 3.56 14 This is the Ongoing Fee charged on the net assets of the investment fund. Assuming a gearing ratio of 50%, this would represent an Ongoing Fee on gross assets of 1.55% p.a. * Performance related fees may apply to this investment fund. Refer to Performance Related Fees on page 8. ** The indirect cost includes a performance related fee for GMO Systematic Global Macro fund based on a 30% allocation to this underlying fund. The other underlying fund managers did not charge a performance related fee in the 12 months to 30 June 2017.

Exit Fees Personal Super You will be charged an Exit Fee of 3.53% on withdrawals from all investment funds within the first three years of the date of each investment. There are no Exit Fees for amounts withdrawn from ANZ Term Deposits or ANZ Cash Advantage where the amount was originally invested in ANZ Term Deposits or ANZ Cash Advantage and not switched to another investment fund. For example, for every $1,000 you withdraw from OnePath Managed Growth within three years from the date of each investment, you will be charged an Exit Fee of $35.30. Note: Up to 10% of the unrestricted non-preserved portion of each contribution or rollover/transfer to each investment fund can be withdrawn without incurring an Exit Fee, where that portion is more than 12 months old. Exit Fees Pension You will be charged an Exit Fee of 3% (3.53% before tax for TTR Pension) on withdrawals from all investment funds within the first three years of the date of your initial investment. There are no Exit Fees for amounts withdrawn from ANZ Term Deposits, ANZ Cash Advantage or ANZ Prime CMA where the amount was originally invested in ANZ Term Deposits, ANZ Cash Advantage or ANZ Prime CMA and not switched to another investment fund. For example, for every $1,000 you withdraw from OnePath Managed Growth within three years from the date of each investment, you will be charged an Exit Fee of $30.00. Note: Exit fees do not apply to income payments. Switching fees Switching Personal Super There are currently no switching fees charged for switching between any of the investment funds, however buy-sell spreads may apply. Exit Fee periods may commence for switches (including switches as a result of an auto-rebalance of your investment allocation or as a result of dollar cost averaging) involving ANZ Term Deposits and ANZ Cash Advantage in the following circumstances: If your initial investment is in ANZ Term Deposits or ANZ Cash Advantage and you then switch that amount (or part of that amount) to any other investment fund (except ANZ Term Deposits or ANZ Cash Advantage), you will commence the three-year Exit Fee period at the time of the switch. If you switch an amount from any other investment fund into ANZ Term Deposits or ANZ Cash Advantage the Exit Fee period which applied to that amount in the original investment fund will continue to apply. Note: A switch will not restart the three-year Exit Fee period (including if you switch into ANZ Term Deposits or ANZ Cash Advantage from any investment fund and then switch into another investment fund). Switching Pension There are currently no switching fees charged for switching between any of the investment funds, however buy-sell spreads may apply. Exit Fee periods may commence for switches (including switches as a result of an auto-rebalance of your investment allocation or as a result of dollar cost averaging) involving ANZ Term Deposits, ANZ Cash Advantage and ANZ Prime CMA in the following circumstances: If your initial investment is in ANZ Term Deposits, ANZ Cash Advantage or ANZ Prime CMA and you then switch that amount (or part of that amount) to any other investment fund (except ANZ Term Deposits, ANZ Cash Advantage or ANZ Prime CMA), you will commence the three-year Exit Fee period at the time of the switch. If you switch an amount from any other investment fund into ANZ Term Deposits, ANZ Cash Advantage or ANZ Prime CMA, the Exit Fee period which applied to that amount in the original investment fund will continue to apply. Note: A switch will not restart the three-year Exit Fee period (including if you switch into ANZ Term Deposits, ANZ Cash Advantage or ANZ Prime CMA from any investment fund and then switch into another investment fund). Note: If a transaction cost factor applies to an investment fund, then it will apply when switching, including as a result of auto-rebalancing or dollar cost averaging. Borrowing costs Borrowing costs are costs that arise when an underlying fund manager borrows money to fund the purchase of an asset. Borrowing costs are recovered from the assets of the underlying investment option and are an additional cost to you. The borrowing costs for the 12 months to 30 June 2017 were incurred by the following investment funds: OnePath Alternatives Growth* 0.03% p.a. BlackRock Balanced 0.01% p.a. BlackRock Scientific Diversified Growth 0.05% p.a. OnePath Geared Australian Shares Index 2.57% p.a. * Estimated based off an allocation of 30% to the Fulcrum Diversified Absolute Return Fund. Note: Past costs are not a reliable indicator of future costs. Financial adviser payments Adviser Service Fees There is no Advice Fee charged by the Fund, however if you choose to utilise the services of a financial adviser, who is registered with us, you can elect to pay their fees from your OneAnswer account in the form of an ASF. 15

16 There are two ways you can choose to have this fee paid: One-off Adviser Service Fee This fee may be charged on a one-off basis as a set dollar amount or as a percentage of either: your investment at the time of your initial or additional investment your total account balance at any other time. Where this fee is being charged at the time of your investment, it will be deducted after your investment has been processed. Ongoing Adviser Service Fee This fee may be charged on an ongoing basis as a percentage of your account balance or as a set dollar amount per annum. This fee will be calculated at the date it is deducted from your account balance on or about the date of the month that your account commenced. You can choose to have this deducted from your account on a monthly, quarterly, or annual basis. You can terminate this fee at any time by notifying us in writing. If you agree to an ASF for your financial adviser s services in relation to your investment, you consent to OnePath Life deducting the nominated ASF amount from your account and paying the nominated ASF amount to your financial adviser. You choose whether the fee will be deducted by redeeming units across all your investment funds or by redeeming units from one nominated investment fund. You cannot nominate an ANZ Term Deposit as the fund from which an ASF is deducted. However your investment in an ANZ Term Deposit will be included in the total account balance when calculating a percentage-based ASF. You cannot nominate a percentage based ASF if the account balance is funded from borrowed money. OnePath Life has a separate contractual arrangement with your financial adviser, as agreed with the Trustee. Where you agree an ASF, OnePath Life is obligated to pay your financial adviser the nominated ASF amount under this arrangement and will charge an equivalent amount to your account. Where an income tax deduction is claimed by OnePath Life under the applicable laws in respect of the ASF paid for a period, the benefit of that deduction will be passed on to you and reflected in your account balance. If you fully withdraw from your account before you receive the benefit of this deduction for the relevant period, you will not receive the benefit of this deduction. At our discretion OnePath Life may decline to deduct any of these fees. Financial adviser commissions OnePath Life may pay your financial adviser commissions for providing you with this product. Your financial adviser may in some cases be related to us. The commissions are already incorporated into the Ongoing Fees outlined in this guide. Financial adviser commissions are not charged directly to your OneAnswer Personal Super or OneAnswer Pension account. The commission amounts shown below are the amounts we may pay to your financial adviser (or their organisation) and include any applicable GST. The upfront and ongoing commissions are calculated based on the value of each investment and your account balance (ongoing) as follows: Upfront Commission (%) Ongoing Commission ANZ Term Deposits Nil Nil ANZ Cash Advantage, ANZ Prime CMA Nil up to 0.33 All other investment funds up to 3.30 up to 0.60 Example: How a financial adviser commission is calculated For every $1,000 that you invest in OnePath Managed Growth in OneAnswer Personal Super, your financial adviser (or their organisation) will receive $6.00 p.a. ongoing commission. Note: This example is illustrative only. You can negotiate a partial or full rebate of upfront commission paid on each investment and ongoing commissions with your financial adviser. In certain circumstances, your adviser may have already agreed with us to a partial or full rebate of upfront or ongoing commission. Any rebate of upfront commission will result in additional units being added to your account at the time of investment. Any rebate of ongoing commission is calculated and credited as additional units to your OneAnswer Personal Super or OneAnswer Pension account monthly. Ongoing commission rebates can only be reinvested back in to the investment fund from which they were earned. Other adviser payments In addition to any upfront and ongoing commissions, OnePath Life may make payments to dealer groups, financial advisers or other third parties based on commercial arrangements. These payments may in some cases be made to related entities. The types of payments include payments to enable educational support and practice development services for advisers and payments to third parties to distribute our products. These payments are made by us and not charged to you or your OneAnswer account. ANZ Prime CMA Fees and charges may apply (including non-anz operator fees, overseas ATM fees and overseas transaction fees). Please refer to ANZ Personal Banking Account Fees and Charges for fees and charges that apply. ANZ Prime CMA is subject to the terms and conditions contained in the ANZ Savings and Transactions Products Terms and Conditions. These are available from any ANZ branch or online at anz.com