AMP Limited notes the 30 June 2022 announcement by Standard & Poor’s that it has revised its outlook on AMP, AMP Group Holdings and AMP Bank from stable to positive and that the issuer credit rating for each of these entities remains unchanged.

The outlook change reflects that the sales of the infrastructure and real estate businesses are providing a pathway for reshaping the Group’s strategy, and that AMP Bank will contribute a larger part of the Group’s earnings upon completion of the sales.

All credit ratings assigned to AMP by other ratings agencies remain unchanged.

_{Authorised for release by the Market Disclosure Committee.}