Before the first spin, nobody knows the bonus timing
96.50% is the long-run return for every A$100 staked, and it says nothing about how often the bonus round arrives. How often Free Spins start is not known in advance. The result of one session is random whatever the RTP, so a session can end well above or well below the stake.
96.50% applies to the version on this page. Which RTP version the lobby runs is shown only in the game rules, and some other titles in the series run 96.51% or 96.52%, so read the rules before the first spin.
x5,000 of the total bet is the ceiling for this slot, and a win that size is reached very rarely. Free Spins also cap the total win at the same multiple of the bet. Nobody can tell in advance whether a session will come near that ceiling.