Medibank Private : Notice of Annual General Meeting 2022 (PDF - 1,810 KB)

Notice of Annual

General Meeting

2022

Medibank Group - our story

We're a health company working to create Better Health for Better Lives by providing the best health and wellbeing experience for people across Australia. Building upon our

46-year history as one of Australia's leading health insurers, our Medibank and ahm brands now support millions of customers to manage their health and wellbeing through personalised products and services.

We're investing in preventative health and reimagining healthcare to give people greater choice, better access and more control over their care. We're partnering with doctors, hospitals and governments to deliver care in new ways - and growing and developing new health services through our Amplar Health business. We're also working together to drive the change within Australia's healthcare system to help ensure it can support our generation and those to come.

Purpose

Vision

Better Health for Better Lives

The best health and wellbeing for Australia

Values Customer obsessed Show heart Brilliance together Break boundaries

Strategy

Growing as a health company

Deliver leading	Differentiate our	Expand in health
experiences	insurance business

Our brands

	Health insurance		Health services
		Health and wellbeing including Live Better
	Diversified insurance		Preventative programs
		Clinical homecare and virtual care
				Investments in primary care, virtual care and
Travel	Pet	Life	Car and home	health system navigation support
				Investments in no gap healthcare programs
Sustainability focus areas
Customer		Employee	Community	Environmental
health		health	health	health	Governance

Medibank

Dear Shareholder

We are pleased to invite you to attend the annual general meeting ("meeting" or "AGM") of Medibank Private Limited ("Medibank") to be held on Wednesday 16 November 2022 at 10.30am (Melbourne time). Shareholders will also have the opportunity to attend the meeting virtually via web.lumiagm.com. Registration will commence (in-person and online) at 9.30am (Melbourne time).

AGM details

The meeting will be held at the Clarendon Auditorium, Level 1, Melbourne Exhibition Centre, Melbourne Convention and Exhibition Centre, 2 Clarendon Street, South Wharf, Victoria 3006. A map with directions to the venue appears on page 21 of this notice.

In person attendance

If you attend the meeting in person, you will need to register at one of the registration desks on the day. You will find it easier if you bring with you a shareholder document showing your holder number (such as a holding statement or proxy form).

Medibank continues to monitor the impact of the COVID pandemic on the meeting and will follow guidance and directions from Federal and State governments. These directions, along with those issued by the Melbourne Convention and Exhibition Centre, may impose certain requirements on those attending the meeting in person, including social distancing and wearing face masks. Accordingly, while you may attend in person, if you are concerned about the impacts of COVID or the potential restrictions that can be imposed, you are encouraged to participate in the meeting online.

There is also a possibility that Federal or State government guidance or restrictions applicable at the time of the meeting may prevent, or limit the number of shareholders attending in person. Should this occur, we will advise shareholders

of those restrictions and any alternative arrangements prior to the AGM via an announcement to the ASX and an announcement on our website at medibank.com.au/about/investor-centre/annual-general-meeting/.

Virtual attendance

Shareholders and proxyholders can watch the AGM live in real time on the Lumi online platform. All shareholders attending virtually will be given a reasonable opportunity to participate in the AGM including a right to vote and to ask questions or make comments, both verbally and in writing.

Information on how to participate virtually, including system requirements, logging in, and how to vote and ask questions, is provided on page 6 of this Notice of Meeting and in the Virtual Meeting Guide on pages 17 to 20. You can also find this information on Medibank's website at medibank.com.au/about/investor-centre/annual-general-meeting/.

The meeting will be webcast live and may be viewed at medibank.com.au/about/investor-centre/annual-general-meeting/. The webcast will also be available on Medibank's website shortly after the conclusion of the meeting together with the presentations and voting results. Non-shareholders may view the AGM via the webcast.

If you are unable to attend the meeting, I encourage you to submit your voting instructions by:

• following the instructions on the front of the proxy form to lodge your proxy electronically atinvestorvote.com.au; or
• completing the personalised proxy form and returning it to Medibank's share registry. The completed proxy form must be lodged electronically or be received by no later than 10.30am (Melbourne time) on Monday 14 November 2022.

This Notice of Meeting sets out the details of the items of business of the meeting, as well as voting instructions and explanatory notes.

At the AGM, Chief Executive Officer David Koczkar and I will review the operations and performance of Medibank for the year ended 30 June 2022. There will be an opportunity for shareholders to ask questions about matters relevant to the business of the meeting or about Medibank generally. We encourage your participation at the meeting and look forward to providing an informative program.

I hope you are able to join us at the AGM and thank you for your support as a shareholder.

Yours sincerely

Mike Wilkins AO

Chair

Notice of Annual General Meeting 2022 1

2022 highlights

Customer

3.96m

total customers

at 30 June 2022

27.45%

market share

(+14 bps since FY21)

$5.4b

total claims paid

1. $682m

total COVID financial support

to date - includes c. $368m customer give backs

45.3(+8.2) Medibank

42.4 (-0.6)ahm

customer advocacy

(average Service NPS)

Services supported
1.2m+	24.7m+
hospital admissions	extras services

60.9k (+3.2%)

reported net resident policyholder growth

c. 568k

customers engaged with Live Better and preventative programs

476k+

surgical procedures

Health services

10,086(+40%) c.7,239(-5%) $10m c.3.5m 3,245

customers engaged with preventative health programs

customers used Medibank at Home

investment in health tech company Medinet

virtual	patients used
health	My Home Hospital
interactions	since Jan 2021 launch

2 Medibank

Our performance

$393.9m(-10.7%)	7.3cps (+5.8%)	13.4cps (+5.5%)
Group net profit after tax	final ordinary dividend	total ordinary dividend
	fully franked	fully franked

$6,859.8m

Health Insurance segment revenue

Composition of	%
2022 segment	92.9
operating profit	$592.6m
	Health Insurance

7.9⁄ 10

employee engagement

$321.8m	-$24.8m
Medibank Health	net investment
segment revenue	income / loss
7.1%		c. $15m
$45.5m		in productivity
Medibank Health	savings
	including around
3,768	1,300
employees	health professionals
Headcount at 30 June 2022

All data is presented on a statutory basis

Notice of Annual General Meeting 2022 3