• Income Amount: cash payment monthly in arrears on the Income Payment Dates during the term of investment;
• Conditional Capital Protection: the Investor will receive the Issue Price for each Unit held on the Maturity Date if neither a Barrier Event nor Early Maturity occurs; and
• No Growth Amount or Growth Bonus Amount is payable under this strategy.

In respect of each Reference Asset Portfolio, the Income Amount (which only applies to the Alpha RESULTS Income Strategy) is a simple (non-compounding) rate per annum payable monthly in arrears throughout the term of investment.

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

If Early Maturity occurs, Investors will not be entitled to receive any payment of the Income Amount determined on any subsequent Income Record Date. However, Investors will be entitled to any Income Amount determined on an Income Record Date prior to Early Maturity occurring.

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

Reference Asset Portfolio

Minimum Income Amount

Income Amount as at the date of this PDS

Portfolio U

11.00% p.a.

13.00% p.a.

Portfolio V

12.80% p.a.

15.80% p.a.

The Income Amount as at the date of this PDS has been included solely so that Investors may gain insight into the possible Income Amounts that an Investor could receive over the relevant Term. Investors should note, however, that the Income Amount is subject to change. The above rates are not a forecast, projection or prediction of what the Income Amounts 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 Income Amounts set for each portfolio on the Issue Date. Once set, both Citi and Alpha will publish the relevant Income Amounts on their websites and will also announce the relevant Income Amounts to ASX.

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 Income Amount may contribute to total returns.

(1/12) x Income Amount x Issue Price
This amount is payable monthly throughout the term of the investment.

Four (4) Business Days prior to each relevant Income Record Date.

The Income Record Dates will be monthly from the Issue Date throughout the term of investment (or, if any such date is not a Business Day, the following Business Day). These dates are only relevant in respect of the Alpha RESULTS Income Strategy.

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

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

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

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:

1. if the Reference Asset Performance of the Lowest Priced Reference Asset on the relevant Maturity Date ? 100%:

Issue Price

2. if the Reference Asset Performance of the Lowest Priced Reference Asset on the relevant Maturity Date < 100%:

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.