IAG opens Share Purchase Plan

IAG is pleased to announce that the Share Purchase Plan (SPP) it announced on Friday 20 November 2020 opens today. Eligible Shareholders now have the opportunity to subscribe for up to $30,000 of new fully paid IAG ordinary shares (SPP Shares), free of any brokerage or transaction costs.

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

IAG is pleased to announce that the Share Purchase Plan (SPP) it announced on Friday
20 November 2020 opens today. Eligible Shareholders now have the opportunity to subscribe for up to $30,000 of new fully paid IAG ordinary shares (SPP Shares), free of any brokerage or transaction costs.

The SPP follows completion of the $650 million institutional placement announced by IAG at the same time as the SPP. IAG aims to raise approximately $100 million under the SPP. Depending on the level of demand, IAG may decide to scale back applications or raise an amount higher than $100 million. It is IAG’s intention that any scaleback will be applied having regard to existing holdings of Eligible Shareholders and the size of the parcel of SPP Shares applied for.

The SPP is expected to close at 5:00pm (Sydney time) on Friday, 18 December 2020.

Further details on the SPP, including how to apply, are set out in the SPP Booklet attached to this announcement, which will be sent to Eligible Shareholders.

Indicative Timetable1




1 Note: This timetable is indicative only and subject to change. The commencement of trading and quotation of SPP Shares is subject to confirmation from the ASX. Subject to the requirements of the Corporations Act, the ASX Listing Rules and other applicable rules, IAG reserves the right to amend this timetable at any time, including extending the period for the SPP or accepting late applications, either generally or in particular cases, without notice.

IMPORTANT DISCLAIMER

This announcement contains certain "forward-looking statements" that are based on management's belief, assumptions and expectations and on information currently available to management. These statements can generally be identified by the use of forward-looking words, such as "expect", "anticipate", "likely", "intend", "should", "could", "may", "predict", "plan", "propose", "will", "believe", "forecast", "estimate", or "target". Such statements may be based on underlying assumptions (which could prove incorrect or may be subject to change) and are subject to the risks disclosed in the Investor Presentation lodged with the ASX on Friday 20 November 2020. You are strongly cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and the significant uncertainty and disruption caused by the COVID-19 pandemic. This announcement does not take into account the financial position, needs or circumstances of investors. You are encouraged to seek independent advice.

This announcement may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities (including the SPP Shares) in the United States or any other jurisdiction in which such an offer would be illegal. The SPP Shares to be offered and sold under the SPP have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended , or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, in the United States or to any person that is acting for the account or benefit of a person in the United States (to the extent such person is acting for the account or benefit of a person in the United States). All $ references are to Australian dollars.