No, "fundamentals" at UNSW are probably different to fundamentals at UTS. That course is generally for students who intend on transferring to engineering or science but don't have the necessary HSC maths understanding. Any student who is doing engineering should not take that course. A bridging course is more appropriate.
The average 2U student will probably get a HSC mark of around 80. You will need a better level of understanding than that, considering Ext 1 is assumed and Ext 2 is recommended. The average 2U student, on face value, would not be able to cope with the level of maths in engineering. If you fail maths, you must repeat it. You will obviously be behind your starting cohort, be in more debt and you'll probably feel bad.
If you work hard to build your understanding of maths, even try to understand Ext 1 and 2 concepts before uni begins, you will definitely find it less foreign when lecturers begin with Ext 2 stuff on the first day.