This strategy provides the Investor with:

• Growth Amount: cash payment on each Growth Payment Date if neither a Barrier Event nor Early Maturity occurs;
• Growth Bonus Amount: 100% of the Reference Asset Performance of the Lowest Priced Reference Asset exceeding (100% plus the total Growth Amount over the Term), due as a cash payment on the Settlement Date if neither a Barrier Event nor Early Maturity occurs;
• Conditional Capital Protection: the Investor will receive the Issue Price for each Unit held on Maturity if neither a Barrier Event nor Early Maturity occurs; and
• No Income Amount is payable under this strategy.

There is no Income Amount in the Alpha RESULTS Growth Strategy.

If neither a Barrier Event nor Early Maturity occurs on, or prior to, the relevant Growth Record Date, in respect of each Reference Asset Portfolio under the Alpha RESULTS Growth Strategy, the 'Growth Amount' is a simple (non-compounding) rate payable in cash on the relevant Growth Payment Date.

The Growth Amount will be set by the Issuer on the relevant Issue Date and will not be less than the Minimum Growth Amount specified in the table below.

If a Barrier Event or Early Maturity occurs, Investors will not be entitled to receive any payment of the Growth Amount determined on any subsequent Growth Record Date. However, Investors will be entitled to any Growth Amount determined on a Growth Record Date prior to the Barrier Event or Early Maturity occurring.

As at the date of this PDS, the Growth Amounts for each portfolio are as specified in the table below:

Reference Asset Portfolio

Minimum Growth Amount

Growth Amount as at the date of this PDS

Portfolio U

11.75% p.a.

14.00% p.a.

Portfolio V

15.40% p.a.

17.90% p.a.

The Growth Amount as at the date of this PDS has been included solely so that Investors may gain insight into the possible Growth Amount that an Investor could receive over the relevant Term. Investors should note, however, that the Growth Amount is subject to change. The above rates are not a forecast, projection or prediction of what the Growth Amount will be when they are set by the Issuer on the Issue Date.

Citi will provide each Investor with a letter of confirmation which states the relevant Growth Amounts set for each portfolio on the Issue Date. Once set, both Citi and Alpha will publish the relevant Growth Amounts on their websites and will also announce the relevant Growth Amounts to ASX.

The Growth Amount is payable on the respective Growth Payment Dates in accordance with the following formula:

Growth Amount per Unit x number of Units

Investors should refer to the section "What factors affect the Income and Growth Amounts?" in Section 1 of this PDS for more details. Investors should also refer to the scenarios set out in Section 5 of this PDS for an explanation of how the Growth Amount may contribute to total returns.

Growth Amount x Issue Price x
(no. of months since later of Issue Date & previous Growth Record Date)/12

This means that the first Growth Amount per Unit is:

Growth Amount x Issue Price x 12/12

and that the second Growth Amount per Unit is:

Growth Amount x Issue Price x 6/12

• twelve (12) month anniversary of the Issue Date; and
• Maturity Date.

These dates are only relevant in respect of the Alpha RESULTS Growth Strategy.

Five (5) Business Days after each Growth Record Date.

Four (4) Business Days prior to the first Growth Record Date.

If   (i)   a Barrier Event does not occur on, or prior to, the relevant Maturity Date; and
     (ii)  the Reference Asset Performance of the Lowest Priced Reference Asset on the relevant
           Maturity Date > [100% + (Growth Amount x (no. of months in the Term)/12)],

then, in respect of the selected Reference Asset Portfolio, the Growth Bonus Amount is the following simple (non-compounding) rate payable in cash by the Issuer on the Settlement Date:

Reference Asset Performance of the Lowest Priced Reference Asset at Maturity -
[100% + (Growth Amount x (no. of months in the Term)/12)]

For more information, please refer to Sections 3 and 5 of this PDS.

Growth Bonus Amount x Issue Price

If a Barrier Event does not occur on, or prior to, the relevant Maturity Date, the Final Value per Unit payable on the Settlement Date will be equal to:

Issue Price

If a Barrier Event does occur on, or prior to, the relevant Maturity Date, the Final Value per Unit payable on the Settlement Date will be equal to:

Issue Price x Reference Asset Performance of the Lowest Priced Reference Asset at Maturity

Investors should note that this means they may receive less than their Investment Amount.

Investors should also note that the Issue Price may not equal the Purchase Price. As such, Investors applying during the General Offer Period may make a capital loss or gain (or make a lower or greater return) depending on whether the Purchase Price was greater or less than the Issue Price, as the Final Value per Unit is only calculated by reference to the Issue Price.

Investors should refer to the section "How is the Final Value per Unit determined at Maturity?" in Section 1 for more information on how the Final Value per Unit is calculated.