FULL YEAR RESULTS 2015 A U S T R A L I A A N D N E W Z E A L A N D B A N K I N G G R O U P L I M I T E D

A N Z I N V E S T O R D I S C U S S I O N PA C K

N O V E M B E R 2 0 1 5

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Index

Group Overview	3
Financial Performance	11
Treasury	26
Risk Management	40
Portfolio Composition	54
Divisional Performance	58
Home Loan / Mortgage portfolio (Australia & New Zealand)	83

All figures within this investor discussion pack are presented on Cash basis in Australian Dollars unless otherwise noted. In arriving at Cash Profit, Statutory Profit has been adjusted to exclude non-core items, further information is set out on page 84 of the 2015 Full Year Consolidated Financial Report.

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FULL YEAR RESULTS 2015 A U S T R A L I A A N D N E W Z E A L A N D B A N K I N G G R O U P L I M I T E D 2 9 O c t o b e r 2 0 1 5

Group overview

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SUPER REGIONAL STRATEGY
PROFITABLE
STRONG CORE ENTERPRISE
ASIAN
MARKETS APPROACH
GROWTH
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STRONG LIQUIDITY AND CAPITAL MANAGEMENT
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DISCIPLINED AND EXPERIENCED MANAGEMENT
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ANZ offers a distinctive geographic footprint and business mix that provides earnings diversification

Corporate Profile – Latest Full Year position: 2015

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Founded in 1835, ANZ is a super regional bank that serves 10 million retail, commercial and institutional customers in 34 markets and employs over 50,000 staff.
Headquartered in Melbourne, Australia, ANZ is one of the four largest Australian banks and ranked in the top 25 banks globally by market capitalisation.
Listed on the Australian Stock Exchange (ASX) with a secondary listing on the New Zealand Stock Exchange (NZX)

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Top 4 Corporate A Top 4 Bank The Largest Bank in
Bank in Asia [1 ] in Australia [ 2] New Zealand
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APEA	Australia	Australia	New Zealand	New Zealand
Staff (FTE) 20	Staff (FTE)	21,138	Staff (FTE)	8,104
Customers ~	Customers	~6m	Customers	~2m
Cash NPAT $	Cash NPAT	$4.4B	Cash NPAT	$1.6B
RoRWA 1.	RoRWA	2.00%	RoRWA	2.40%
Customer Deposits $	Customer Deposits	$238B	Customer Deposits	$77B
Customer Lending $	Customer Lending	$381B	Customer Lending	$104B

Greenwich Associates 2014 Asian Large Corporate Banking Study
Peter Lee Associates Large Corporate and Institutional Relationship Banking surveys, Australia and New Zealand 2014

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Income composition – geography & division

Operating Income by Geography

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$m
25,000
20,000
15,000
10,000
5,000
0
FY12 FY13 FY14 FY15
Australia New Zealand APEA
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Operating Income by Geography

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18%
19%
63%
Australia New Zealand APEA
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Net Profit after Tax by Geography

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$m
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
FY12 FY13 FY14 FY15
Australia New Zealand APEA
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Operating Income by income type

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100%
22% 26%
80%
53%
60%
40% 78% 74%
47%
20%
0%
Australia New Zealand APEA
Net Interest Income Other Operating Income
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Balance sheet composition – geography & division

Group balance sheet composition

Institutional Balance sheet profile

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Customer Lending [1] Customer Deposits
$570b (Sep 15) $445b (Sep 15)
15% 29%
17%
18%
67%
54%
Australia APEA New Zealand
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Customer Lending[1] (Sep 15)

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$381b $104b $85b
7%
17%
19% 34%
85%
64%
57%
13%
Australia New Zealand APEA
Retail Commercial Institutional Other
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By total exposure (%) By tenor – FY15 (%)
Default
Tenor > 1Yr
Sub Inv Grade
Tenor < 1Yr
Inv Grade
19%
22% 21%
31%
63% 64%
81%
78% 78%
69%
37% 36%
Sep 13 Sep 14 Sep 15 Asia Aus NZ
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Customer lending represents Net Loans and Advances including acceptances. 2. Excludes Wealth, GTSO & Group Centre

Enterprise Approach Improving customer experience, productivity and control

Delivering a stronger and more efficient bank

via an enterprise approach to operations and technology

benefiting our customers, employees and shareholders

Improving customer experience

Easier on-boarding and faster approvals

Building Common Technology faster approvals Platforms • Quality service • Consistency across channels across all main business lines to drive standardisation, simplification and automation.

Customer  19% complaints (Australian Ops)

Driving operational productivity

Absorb significant volume growth
Sustainable cost reduction

Operations cost  20bps to income

Simplified processes

Reducing operating risk

Consistent, standard processes
Reduced error rates
Upgraded infrastructure and security systems

Utilising our Regional Delivery Network

to improve customer experience and drive down cost to serve.

Operations  10% productivity

Accelerating progress through digitisation and industrialisation

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Regional Delivery Network Improving resilience and productivity, while supporting business growth

Driving sustained productivity benefits

Supporting regional growth

Network Locations

Bengaluru Chengdu Manila Suva Hong Kong Singapore Melbourne Sydney Auckland Wellington

Leveraging time zone advantages

~20 hour servicing window for Retail and Wholesale Lending, supporting “same day” propositions
Retail mortgages “time to yes” down from 4 days to 1; “same day” decisions for 5,000 customers every month

Centralising and scaling core functions to support business growth

Wholesale lending operations merged into one global function, supported by a common platform
Payments and Markets operations delivered by hubs for branch openings in Paris, Thailand, India and Myanmar

Building regional voice capability

Functions Performed

Payments Markets Trade Retail Lending Shared Services Wholesale Lending Risk Services Credit Analytics Wealth Technology AML and Sanctions Voice

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Manila awarded Best Global In-House Centre of the Year, International ICT Awards, with Wealth voice services exceeding industry average NPS by 26 percentage points

Leveraging skills and talent across the region

Recruiting in-region expertise for specialised markets (e.g. Institutional – Finance, Analytics and Credit)

Location agnostic processing and resilience

Payments Ops in 5 locations, and Mortgage Ops in 4, mitigating disruption risk and ensure business resilience

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Common Technology Platforms Increasing capability and delivering strategy

	Coverage	Value1
Global Wholesale Digital 17 countries		$2.5 trillion Value of transactions processed this year2

Global Retail Cards 20 countries		>8 million Active cards in circulation

Global Process Management 24 countries		6,000 hours Saved by automating steps for international payments investigations3

Global Payments 12 countries		WinnerCelent Model Bank for Payments Innovation 2015

Global FX	15 countries	36% Increase in volume of FX deals processed year-on-year

Global Customer Registry	27 countries	>17 million Customer records so far

Represents examples of value delivered by platforms in FY15 unless otherwise stated.

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Represents payables processed, annualised for FY15.

Based on a time saving of 5 minutes per case for case creation, across ~70,000 cases processed in FY15 in Australia and New Zealand.

FULL YEAR RESULTS 2015

A U S T R A L I A A N D N E W Z E A L A N D B A N K I N G G R O U P L I M I T E D 2 9 O c t o b e r 2 0 1 5

Financial Performance

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Financial performance

		2015	2014	change
		($m)	($m)	(%)
Statutory profit		7,493	7,271	3%
Cash Profit		7,216	7,117	1%
Cash Earnings Per Share (cents)		260.3	260.3	-
Cash Dividend Per Share (cents)		181	178	2%
ROE		14.0%	15.4%	(140)bps
CET1	APRA Basis	9.6%	8.8%	80bps
	Internationally comparable	13.2%	12.5%	70bps

Modest profit growth, record result
Domestic businesses continue to perform; increased investment in FY15
IIB soft finish to the year; responding to challenging environment

FY15 vs FY14	($m)	change
Income	20,518	4.8%
Net Interest income	14,616	5.9%
Other operating income	5,902	2.1%
Expenses	9,359	6.8%
PBP	11,159	3.2%
Provisions	1,205	21.8%
Cash Profit	7,216	1.4%

2H15 vs 1H15	($m)	change
Income	10,333	1.5%
Net Interest income	7,478	4.8%
Other operating income	2,855	(6.3)%
Expenses	4,766	3.8%
PBP	5,567	(0.4)%
Provisions	695	36.3%
Cash Profit	3,540	(3.7)%

FX contributed 2.5% to rev. & 3.8% to exp. growth
Exp. Slowed 2H15 finishing “on guidance” at +3% FX adj.
Lower rev. growth in 2H15 with weaker markets revenue in Aug/Sep
Provisions $1.2b in line with 3Q15 trading update “guidance”

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2007 - 2015 Scorecard

		2007	2015
	Capital (CET1)1	4.1%	9.6%
A stronger more profitable Bank	Liquidity2 Total Assets	$30bn $393bn	$135bn $890bn
	Profit	$3.9bn	$7.2bn

A stronger Brand

Better Bank for Customers

More customers; significant investment
Growing market share
Strong digital credentials
Completed rollout of Super Regional Network
Top 4 Corporate Bank in Asia[3 ]
APEA 20% of Group revenue; network revenue 25%[4 ]
Unique market footprint; in 34 markets supported by Regional Hubs
Values led culture

Positioned for sustainable future

High Staff engagement - 76% vs 64% in 2008
Strong portfolio of businesses
Internal estimate at FY07
Excludes internal RMBS

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Greenwich Associates 2014 Asian Large Corporate Banking Study.
APEA Network Revenue represents income generated in Australia & New Zealand as a result of referral from ANZ’s APEA network.

Financial performance drivers

Income drivers

2H15 NIM

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$m 134 55
490 131 73 20,518
84
488 20,066 201
19,578
2.3%
4.8%
FY14 FX FY14 Adj Retail Comm. P'Ships & Other Cash Mgt Global Loans Trade Global Markets FY15
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bp
212
204 4 204
202
8 1 1
2
2
2 bps
0 bps
(8) bps
2H14 1H15 FX 2H15
1H15 change 1H15 FX adj. Asset Pricing Deposits Funding & Asset mix¹ Other²
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Expense drivers

Divisional drivers

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49 59
220
7,216
7,117
(44)
(185)
Profit as a % of total Groupp
45% 16% 37% 8% -6%
FY14 Aus. NZ IIB Wealth Other FY15
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245 9,211 9,359 220
9,084 70 78 7,216
324 102 7,117
8,760 220 (44) (185)
1.4% Profit as a % of total Groupp
45% 16% 37% 8% -6%
3.0%
FY14 FX D&A BAU FY14 Aus. NZ IIB Wealth Other FY15
FY14 FY15
FX adj.
Reg. &
Productivity compliance Discretion'y Investment
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Volume & Margin by Division

ANZ total

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$b 570
522
483
428
2.31
2.22
2.13
2.04
FY12 FY13 FY14 FY15
NLAs NIM (%)
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New Zealand

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$NZb 104.8
96.6
91.6
88.0
2.58
2.49 2.49 2.48
FY12 FY13 FY14 FY15
NLAs NIM (%)
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Australia Division

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314
$b 288
271
254
2.53 2.52 2.50
2.48
FY12 FY13 FY14 FY15
NLAs NIM (%)
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IIB

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$b
155
142
123
98
1.82
1.61
1.50
1.34
FY12 FY13 FY14 FY15
NLAs NIM (%)
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Productivity – Revenue/FTE & CTI

ANZ total

Australia

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$k
409
389
370 504
47.7% 44.9% 44.7% 45.6%
FY12 FY13 FY14 FY15
Revenue/FTE CTI
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$k
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887
827
798
739
41.0%
37.5%
36.8% 36.4%
FY12 FY13 FY14 FY15
Revenue/FTE CTI
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New Zealand

IIB

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$NZk
571
544
504
440
48.0%
43.6%
40.9%
39.7%
FY12 FY13 FY14 FY15
Revenue/FTE CTI
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$k
979
917
820
768
49%
47%
46%
45%
FY12 FY13 FY14 FY15
Revenue/FTE CTI
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Consistent project investment

Strategic initiatives

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800 $m
700 115
158 147
600
500
400
300 633 572 590
200
100
-
FY13 FY14 FY15
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Efficiency

Product re-engineering & digitisation

Re-engineering/automating
Integrating end-to-end workflow
Standardising systems & processes
Multi channel platform for retail
End-to-end wholesale lending
Modern, resilient payments network
Scalable platforms for Markets growth
• Enterprise-wide data management

Remediation & infrastructure

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500 $m
400
300
200 403
329
260
100
-
FY13 FY14 FY15
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Remediation & infrastructure

Minimising operating risks
Enhancing resilience
Strengthening IT security

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Impaired asset and 90+ day arrears trends

Gross impaired assets

90+ day arrears Australia

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$m
6,000
5,196
5,000
4,264
4,000
2,889
2,719
3,000
2,000
1,000
0
Sep 12 Sep 13 Sep 14 Sep 15
< $10m $10- 50m $51- 100m
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160 Index Sep 13 = 100
140
120
100
80
60
Sep 13 Dec 13 Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Jun 15 Sep 15
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Home Loans¹ (3 mnth rolling Ave.) C&CB² (3 mnth rolling Ave.) Consumer cards (3 mnth rolling Ave.)

New impaired assets

90+ day arrears New Zealand

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$m
5,000 4,203
4,000
3,287
2,980
2,868
3,000
2,000
1,000
0
Sep 12 Sep 13 Sep 14 Sep 15
Australia New Zealand IIB Other
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120 Index Sep 13 = 100
100
80
60
40
20
0
Sep Dec Mar 14 Jun 14 Sep Dec Mar 15 Jun 15 Sep
13 13 14 14 15
Home Loans (3 mnth rolling Ave.)
Commercial and Agri (3 mnth rolling Ave.)
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Adjusted to remove the impact of hardship methodology changes 2. Corporate & Commercial Banking

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Impaired Asset trends by division

ANZ total

Australia Division

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1.20%
0.88%
0.55%
0.47%
Sep 12 Sep 13 Sep 14 Sep 15
GIA as % of GLAs
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0.70%
0.62%
0.43%
0.38%
Sep 12 Sep 13 Sep 14 Sep 15
GIA as % of GLAs
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New Zealand Division

IIB

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1.61%
0.93%
0.61%
0.35%
FY12 FY13 FY14 FY15
GIA as a % of GLAs
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2.08%
1.46%
0.76% 0.76%
Sep 12 Sep 13 Sep 14 Sep 15
GIA as a % of GLAs
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Provisions

Total Provision charge

Individual Provision charge

$m

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$m $m
2,000 3,000
1,637
1,167 1,144 1,110
2,000
1,000
1,500
0
1,258
1,197 1,205
-1,000
FY12 FY13 FY14 FY15
989
1,000 New Increased Writebacks & Recoveries
Collective Provision balance
500
$m
70
104 2,956
-
104 2,861 (79)
0
2,757
3.3%
-500
FY12 FY13 FY14 FY15
Sep 14 FX Sep 14 Growth Risk Eco Sep 15
CP Charge IP Charge Total charge FX Adj Cycle
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Provision charge by Division

ANZ total

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$m
2,000
1,500
1,000 1,258 1,197 1,205
989
500
0
-500
FY12 FY13 FY14 FY15
IP Charge CP Charge Totals
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New Zealand Division

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$NZm
300
191
200
100 59
46
0
-9
-100
FY12 FY13 FY14 FY15
IP Charge CP Charge Totals
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Australia Division

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$m
818 818 853
900
639
700
500
300
100
-100
FY12 FY13 FY14 FY15
IP Charge CP Charge Totals
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IIB

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$m
900
600 452
295
300
317
216
0
-300
-600
FY12 FY13 FY14 FY15
IP Charge CP Charge Total charge
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Cash Profit by Division

Australia Division

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$m 3,274
3,054
2,854
2,571
FY12 FY13 FY14 FY15
Growth 11.0% 7.0% 7.2%
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IIB

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$m
2,708 2,664
2,441
2,162
FY12 FY13 FY14 FY15
Growth 12.9% 10.9% (1.6)%
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FY12 results normalised for a non-recurring software impairment ($29m). 2. FY13 results normalised for a one-off tax consolidation adjustment (-$50m)

New Zealand Division

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$NZm 1,177 1,215
1,060
861
FY12 FY13 FY14 FY15
Growth 23.1% 11.0% 3.2%
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Wealth

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$m 601
478
421
366
FY12¹ FY13² FY14 FY15
Growth 15.0% 13.5% 25.7%
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RoRWA by Division

ANZ total

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2.07% 2.04% 2.01%
1.90%
FY12¹ FY13 FY14 FY15
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New Zealand Division

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2.24% 2.19%
2.11%
1.83%
FY12 FY13 FY14 FY15
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Australia Division

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2.78% 2.78% 2.82% 2.81%
FY12 FY13 FY14 FY15
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IIB

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~75% of reduction due to lower
Global Markets revenue
1.43% 1.42% 1.44%
1.31%
FY12 FY13 FY14 FY15
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Managing for a challenging environment

Challenges

Management

Revenue Softer Q4 in Markets
Balance sheet trade-offs (RWA growth and trade)
Investment in high return businesses
Portfolio mix

Costs

Cost headwinds (compliance and regulation)
IIB responding to challenging environment but more needed
- FTE reduction
- 10% Ops & Service productivity
- Automation & Digitisation
Continued investment in Australia and Global Markets
Returns Higher capital creates a stronger, better positioned bank, but comes at a cost
Capital Management
• Portfolio mix
Provisions[•] Balance sheet remains robust Scorecards • • Modest swing in collective provision Portfolio mix cycle with Individual Provisions • Customer selection
stable

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Focus areas

Continue to invest in responsible Australian growth
Keep focused and disciplined in New Zealand
Much tighter management of returns in IIB
Tilt investment to digital and productivity
Further simplify and rebalance the portfolio, removing distractions

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FULL YEAR RESULTS 2015 A U S T R A L I A A N D N E W Z E A L A N D B A N K I N G G R O U P L I M I T E D 2 9 O c t o b e r 2 0 1 5 Treasury

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Risk Weighted Asset movement – second half

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$b
401.9
7.0 0.8
394.4 0.3
4.4
3.1
386.9
1.9%
Mar-15 FX¹ Op RWAs Mar 15 Credit IRRBB Mkt FY15
fx adj RWAs RWA RWAs
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FX impact on Credit RWAs only

Capital & Liquidity

Basel III Liquidity Coverage Ratio (Sep 15)

APRA Basel III Leverage Ratio (Sep 15)[2 ]

Liquid Assets Net cash outflows LCR LCR surplus	Sep 15 vs Mar 15
	$185b +$12b $151b +$6b 122% +3% $34b +$6b

APRA basis (%)	5.07
Equity Investments	0.49
DTA	0.07
Other	0.02
Internationally comparable basis	5.65

CET1 (%)

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13.2% on an Internationally Comparable Basis
0.20
0.92 0.80 9.59
9.14
8.72 8.79
(0.14) (0.13) (0.55) (0.10)
(0.38) (0.20)
Mar 15 Cash RWA Capital Net Other¹ Sep15 2H15 Sep-15 Esanda Mortgage Wealth Sep-15
NPAT Usage Ded'n Div pre-equity equity reported RWAs impact pro-forma
raising raising
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Includes impact of increased Operational Risk RWA as a result of APRA’s accreditation of ANZ’s new Operational Risk Measurement System and repayment of the first tranche of debt issued by ANZ Wealth Australia Limited

Leverage ratios includes Additional Tier 1 securities subject to Basel III transitional relief net of any transitional adjustments

Regulatory capital

Capital Update

Basel III Common Equity Tier 1 (CET1)

Common Equity Tier 1 ratio 9.6% at FY15 on an APRA basis or 13.2% on an Internationally Comparable[1] basis. Target remains around 9% on an APRA basis.
$3.2bn equity raising completed in second half. Addresses impact of APRA’s Australian IRB mortgage risk weight floor effective July 2016. Expect APRA CET1 > 9% post introduction of mortgages floor.
Final dividend 95 cents per share. Dividend Reinvestment Plan will operate with no discount applied to new shares issued.

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13.2%
12.5% 12.1%
9.6%
8.8% 8.7%
Sep 14 Mar 15 Sep 15
APRA Internationally Comparable1
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APRA CET1 position

Total RWA movement – Sep 15 v Mar 15

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% $b
0.92 0.80 9.59
4.4 401.9
9.14
8.72 8.79
(0.14) (0.13) (0.45) 3.4 0.5
(0.38) (0.20) 3.6
3.1 390.0
386.9
Credit RWA ex FX hoh
growth +$7bn or ~2%
Mar 15 CRWA FX Mar 15 - Growth Other 8 Market & Op Risk Sep 15
Impact FX 7 IRRBB RWA
adjusted RWA
2 3 4 5 6
Mar 15 Cash NPAT RWA Usage Other
Capital Deductions Net Dividend Sep 15 pre-equity raising 2H15 equity raising Sep 15 reported Pro-forma adj Sep 15 pro-forma
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Internationally Comparable methodology aligns with APRA’s information paper entitled International Capital Comparison Study (13 July 2015). Basel III Internationally Comparable ratios do not include an estimate of the Basel I capital floor. 2. Cash profit net of preference share dividends. 3. Includes EL vs. EP shortfall. 4. Represents the movement in retained earnings in deconsolidated entities, capitalised software and other intangibles. 5. $3.2bn equity raising completed in August/September 2015. 6. Approximate pro-forma numbers include the Australian IRB mortgage RWA floor impacts, ANZ Wealth refinancing and Esanda sale. 7. FX adjustment only on cRWA. 8. Other includes risk and portfolio data review impact.

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Internationally Comparable regulatory capital position

		APRA Study1
APRA Common Equity Tier 1 (CET1)		9.6%
Corporate undrawn EAD and unsecured LGD adjustments	Australian ADI unsecured corporate lending LGDs and undrawn CCFs exceed those applied in many jurisdictions.	1.6%
Equity investments & DTA	APRA requires 100% deduction from CET1 vs. Basel framework which allows concessional threshold prior to deduction.	1.0%
Mortgage 20% LGD floor	APRA requires use of 20% mortgage LGD floor vs. 10% under Basel framework.	0.4%
Specialised Lending	APRA requires supervisory slotting approach which results in more conservative risk weights than under Basel framework.	0.4%
IRRBB RWA	APRA includes in Pillar 1 RWA. This is not required under the Basel framework.	0.2%
Basel III Internationally Comparable CET1		13.2%
Basel III Internationally Comparable Tier 1 Ratio		15.3%
Basel III Internationally Comparable Total Capital Ratio		17.8%

Internationally Comparable methodology aligns with APRA’s information paper entitled International Capital Comparison Study (13 July 2015). Basel III Internationally Comparable ratios do not include an estimate of the Basel I capital floor.

ANZ’s CET1 ratio vs international peers

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Canada UK Singapore Europe
+310 bps +30bps +90bps +50bps
BIS 75 [th] percentile [3]
= 12.5%
8.00%
1.00%
D-SIB
13.2% 13.3% 12.9%
12.5%
2.50% 11.9% 11.6% 12.0% 12.0%
CCB 10.2%
9.60%
4.50%
2
2 2
2
1
FY15 ANZ APRA) basis) Average UK Peer Average basis) basis) Average
APRA Basel III Minimum ANZ (APRA) Comparable - ANZ (Canada Canada Peer Average ANZ (Europe Europe Peer
(Internationally ANZ (UK basis) ANZ (Singapore Singapore Peer
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Internationally Comparable methodology aligns with APRA’s information paper entitled International Capital Comparison Study (13 July 2015). 2. Peer estimates are based on RWA weighted average of G-SIB/D-SIBs (ex Singapore which is based on DBS, OCBC and UOB) fully loaded Basel III capital ratios per most recent disclosures. 3. Top quartile CET1 on fully phased-in Basel 3 basis (Table A-3), Basel III Monitoring Report - September 2015 (Basel Committee on Banking Supervision).

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Regulatory capital generation

Common Equity Tier 1 generation (bps)

FY avg FY12– FY14 FY15	FY avg FY12– FY14 FY15	FY avg FY12– FY14 FY15
Cash profit RWA growth Capital deductions	206 (50) (26)	200 (36) (34)
Net capital generation	130	130
Gross dividend Dividend Reinvestment Plan	(134) 27	(138) 34
Core change in CET1 capital ratio 23 26
Other non-core and non- recurring items 21 (26)
Net change in CET1 capital ratio 44 -

Net capital generation of 130 bps consistent with performance over recent years
FY15 non-core and non-recurring items mainly due to increased Operational Risk RWA as a result of APRA’s accreditation of ANZ’s new Operational Risk Measurement System and repayment of the first tranche of debt issued by ANZ Wealth Australia Limited
Excludes the 80bps CET1 benefit from $3.2bn equity raising completed in second half 2015

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Basel III Leverage Ratio

Basel III Leverage Ratio[1 ]

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%
0.07 0.02 5.65
0.49
5.07
APRA basis Equity DTA Other Internationally
investments Comparable
basis
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Leverage ratio well placed between median and top quartile of top 100 global banks.[2 ]
Top 100 position not directly comparable to Australian banks due to accounting differences. For example U.S. banks leverage ratios are higher due to US GAAP’s favourable treatment of derivatives.[3 ]
ANZ compares well with banks with similar operating models, i.e. mortgages on balance sheet. For example:
The 5 Scandinavian banks represented in the top quartile for CET1 (with CET1 ratios ranging from 13.3% to 22.4%)[4] report leverage ratios in the range of 3.8% to 4.5%[5]
The 5 top Canadian banks currently report leverage ratios in the range of 3.7% to 4.2%[5 ]
No minimum requirement has yet been set by APRA. The BCBS minimum is 3%. The leverage ratio is currently a ‘disclosure only’ requirement but will become a binding Pillar 1 requirement from 1 January 2018.
Leverage ratios includes Additional Tier 1 securities subject to Basel III transitional relief net of any transitional adjustments. 2. BCBS data as at December 2014. 3. FDIC December 2014. 4. Top quartile D-SIBs, last reported fully loaded Basel III basis. 5. Most recently disclosed company reports.

Balance sheet composition

$758bn $758bn

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Other ST Liabilities 4%
Liquids 18%
ST Funding 8%
Term Funding<12M 5%
Other Short Other
Term Assets & Customer
Trade 10% Deposits 12%
Stable Stable Stable
Customer Customer Customer
Lending Deposits Deposits Deposits [1 ]
70% 51% 50% 51%
Term Funding Term Funding Term Funding
>12M 12% >12M 12% >12M 11%
Fixed Assets SHE & Hybrids SHE & Hybrids SHE & Hybrids
& Other 2% 9% 8% 9%
Assets Funding
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Stable balance sheet composition
Completed $3.2bn equity raising in 2H15
Term assets funded by equity, term funding and stable customer deposits
Further improvement in composition of customer deposits with growth in stable deposits 12% over the year vs. 10% growth in total customer deposits
~3% of Australian assets funded by shortterm offshore wholesale funding[2 ]
Stable customer deposits represent operational type deposits or those sources from retail / business / corporate customers and the stable component of Other funding liabilities. 2. Excludes intragroup and foreign resident deposits.

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Basel III Liquidity Coverage Ratio

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March 2015 September 2015
$b LCR 119% $b LCR 122%
Surplus $28b 185 Surplus $34b
173
17
17
151
145
49
25
49 24
3
3
121 126
116
104
Liquid Assets1, 2 Net Cash Outflows 3 Liquid Assets1, 2 Net Cash Outflows 3
HQLA 1 Internal RMBS Customer deposits and other [4 ]
HQLA 2 Other Alternative Liquid Assets Wholesale funding
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Post haircut market value as defined in APS210.
Includes $54bn Committed Liquidity Facility.
Basel III LCR 30 day stress scenario cash outflows.
Other include off-balance sheet and cash inflows.

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Balance sheet strengthening

Leverage ratio[1 ]

Liquidity

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5.1%
Reduction in
3.5% leverage equivalent
to an additional
CET1 ~$14bn Tier 1
4.3% capital at FY15,
with all of the
CET1
2.5% increase funded by
Common Equity
Tier 1 capital
FY07 FY15
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FY07 FY15
• 8 calendar day Short • 30 calendar day Basel III Term Crisis scenario Liquidity Coverage Ratio
• HQLA include cash, (LCR) requirement RBA repo eligible • Fully compliant at Sep securities, bank 2015 with Basel III LCR bills/CDs, deposits 122%, equivalent to a with ADIs $34bn surplus
HQLA include cash, central bank reserves, claims on sovereigns/supras and the CLF

Balance Sheet Structure

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FY07 [5 ] FY15 • Improved structural funding
$758bn $758bn profile. Best estimate of at
$351bn $351bn NSFR at FY15 is around
ST funding
ST Assets ST Assets 17% 2 100%.
18% ST funding 25% 2 28% Other customer • Term wholesale debt residual
Other customer deposits 12% weighted average maturity
deposits 10% Stable (WAM) 3.5 years [3] (2007
customer 2.9yrs)
Stable
customer LT Assets deposits 51% • Offshore CP residual WAM 100
LT Assets deposits 72% days (2007 60 days)
82% 45%
• Below system reliance on
Term Debt Term Debt offshore ST wholesale to fund
>12M, 14% >12M, 11% domestic assets at 3% [4 ]
SHE 6% SHE 9%
Assets Funding Assets Funding
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Offshore CP residual WAM 100 days (2007 60 days)
FY07 CET1 estimated Basel III leverage ratio. APRA basis. 2. ST funding includes short term wholesale funding, other short term liabilities and term debt maturing in less than 12 months. 3. Term debt with residual maturity greater than 12 months as at 30 September 2015. 4. Based on ANZ and APRA system data as at December 2014, ex intragroup and foreign resident deposits. 5. FY07 best estimate.

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Term wholesale funding portfolio

Term Funding Profile

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Issuance [1 ] $bn Maturities
Annual
26
indicative
24 24
23
22 issuance
volume
19
17
16 16
12
11
FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21+
Senior Unsecured Covered Bonds Tier 2²
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Portfolio by Type

Portfolio by Currency

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1%
Domestic
9% 6%
(AUD,NZD)
Senior
Unsecured North America
35%
22% 24% (USD, CAD)
Covered
UK & Europe
Bonds
(€,£,CHF)
69%
Tier 2 Asia (JPY, HKD,
SGD, CNY)
34%
Other
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All figures based on historical FX and excludes hybrids.

Includes transactions with a call or maturity date greater than 12 months as at 30 September in the respective year of issuance. 2. Tier 2 profile is based on the next callable date.

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Foreign currency hedging – earnings benefit from lower AUD

FY15 Earnings Composition (by currency)

Earnings per Share FX Impact[1 ]

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AUD
IDR Other 59%
19%
NZD
22%
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1.6%
0.2%
FY14 v FY15 2H15 v 1H15
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Translation Rates (inclusive of hedges)

The key objective of hedging is to manage short term EPS volatility arising from foreign currency earnings
Hedges currently in place:
FY16: ~70% of NZD and ~25% of USD (inc. currencies that are highly correlated to AUD/USD) earnings.
FY17: ~50% of NZD
FY18: ~25% of NZD
Hedging has reduced the impact of a 5% movement of the AUD on FY16 EPS to ~1%.

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1.35 1.05
1.00
1.25 0.95
0.90
1.15 0.85
0.80
1.05 0.75
FY11 FY12 FY13 FY14 FY15
NZD Translation (LHS) USD Translation (RHS)
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Underlying basis, inclusive of hedges.

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Regulatory landscape

		Status
Capital	Leverage ratio	• APRA introduced amendments in May 2015 for calculating the leverage ratio as a disclosure only requirement • No minimum currently specified, BCBS minimum 3% APRA basis leverage ratio 5.1%, Internationally Comparable basis 5.6% as at 30 September 2015
	Level 3 capital adequacy “Conglomerates”	• APRA draft Level 3 standards Aug 2014 • Finalisation and implementation deferred until FSI recommendations considered by government/APRA No material impact expected based on current draft standards
	Basel Standardised and floors	• BCBS consultation papers released Dec 2014 propose changes to Standardised risk weights, introduction of Advanced approach capital floors ANZ has participated in BCBS QIS. Impact of any changes subject to final BCBS calibration and APRA implementation.
	Total Loss Absorbing Capacity (TLAC)	• Financial Stability Board (FSB) proposal released Nov 2014 details minimum TLAC requirements for G-SIBs • Expect final FSB TLAC rules by Nov 2015 Proposal currently does not apply to D- SIBs. If applied to ANZ, wide range of outcomes depending on calibration including basis for measuring capital base, D-SIB minimum etc.
Funding	Net Stable Funding Ratio	• BCBS standard Oct 2014 • APRA standard yet to be finalised, expected implementation 2018 Best estimate of NSFR around 100% at end FY15 depending on calibration. Do not expect that full compliance will require any material change to balance sheet composition.
Other	Financial System Inquiry (FSI)	• Key recommendations to government: • Set standards such that Australian ADI capital ratios are unquestionably strong • Raise Advanced IRB mortgage risk weights to narrow difference with Standardised approach • Implement loss absorption and recapitalisation framework in-line with international practice • Introduce Basel framework leverage ratio 30 September 2015 Internationally Comparable CET1 ratio of 13.2% within the top quartile of international peers 25% Australian residential mortgage risk weight floor becomes effective July 2016. ANZ’s 2H15 $3.2bn equity raising fully addresses this requirement.

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FULL YEAR RESULTS 2015 A U S T R A L I A A N D N E W Z E A L A N D B A N K I N G G R O U P L I M I T E D 2 9 O c t o b e r 2 0 1 5

Risk Management

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Impaired Assets - YoY

Control list

Control List by Limits Control List by No of Groups

Index Sep 09 = 100

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120
100
80
60
40
20
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Sep 09 Sep 10 Sep 11 Sep 12 Sep 13 Sep 14 Sep 15

Gross impaired assets by size of exposure[1 ]

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$10-50m $51-100m $101-200m >$200m
31% 27% 24% 26% 31% 27%
5% 16%
11% 18% 24%
26%
31% 18%
29%
56%
49%
37% 42% 43%
29%
Sep 10 Sep 11 Sep 12 Sep 13 Sep 14 Sep 15
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Gross Impaired assets by division

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$m Australia New Zealand IIB Other
6,561
7,000
6,000 5,581 5,196
5,000 4,264
4,000
2,889 2,719
3,000
2,000
1,000
0
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Sep 10 Sep 11 Sep 12 Sep 13 Sep 14 Sep 15

New impaired assets by division

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$m
Australia New Zealand IIB Other
6,000 5,446
4,265 4,203
4,000
3,287 2,868 2,980
2,000
0
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Sep 10 Sep 11 Sep 12 Sep 13 Sep 14 Sep 15

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Only >$10m customers.

Credit Impairment Charge - $1,205m

Provision charge

Individual provision charge composition

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$m
Collective Provision (CP) Charge (LHS)
Individual Provision (IP) Charge (LHS)
Total Provision Charge as % Avg. GLA
2,000
1,500
0.51%
1,000
500
0.31% 0.29% 0.26% 0.19% 0.22%
0
-500
FY10 FY11 FY12 FY13 FY14 FY15
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$m
New Increased Writebacks & Recoveries
3,000
1,823
2,500 1,213 [ 1,637 ]
1,167 1,144 1,110
2,000
1,500
1,000
500
0
-500
-1,000
FY10 FY11 FY12 FY13 FY14 FY15
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Individual provision charge by segment

Individual provision charge by region

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$m Institutional Commercial Consumer
2,000 1,823
1,637
1,500
1,213 1,167 1,144 1,110
1,000
500
0
FY10 FY11 FY12 FY13 FY14 FY15
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$m Australia New Zealand APEA

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----- Start of picture text -----

2,000 1,823
1,637
1,500
1,213 1,167 1,144 1,110
1,000
500
0
FY10 FY11 FY12 FY13 FY14 FY15
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Collective Provision

Collective Provision charge

	FY12	FY13	FY14	FY15
Lending growth	148	136	146	104
Portfolio Mix	-12	-29	-20	0
Risk Profile	-196	-43	-232	70
Eco cycle	-319	-34	-49	-79
Total CPC	-379	30	-155	95

Collective Provision coverage

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$b
340 350
305 309
288
276
1.00% 1.00%
0.93% 0.89% 0.86% 0.85%
Mar 13 Sep 13 Mar 14 Sep 14 Mar 15 Sep 15
Credit Risk Weighted Assets
Collective Provision as a % of CRWA
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Collective provision balance by division

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----- Start of picture text -----

$m
104 2,956
4 1
92
(2)
2,757
Sep 14 Aus IIB NZ Wealth FX Sep 15
& Other Movt
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Collective provision balance by source

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----- Start of picture text -----

$m
70
104
2,956
104 - -
(79)
2,757
Sep 14 FX LendingPortfolio Risk Eco Sep 15
Movt Growth Mix Cycle
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Historic loss rates

Australian Industry Corporate Gearing

Industry corporate gearing ratios[1] ,when lagged by 15 months, display a strong relationship to credit impairment, indicating current corporate gearing is a useful leading indicator of loss.
The uptick observed in the most recent Australian industry corporate gearing ratio is consistent with a modest increase observed in collective provision. Collective Provisioning represents the anticipated loss expected to emerge in the Australian Corporate portfolio, typically over the next 18-24 months.
Although there is some pressure on loss rates, IP as % of Avg. NLA at Sep 15 was 20bps, which is similar to that observed between 2004 and 2007.
IP as % of Avg. NLA (20 bps) is the 6th lowest rate since 1990.

Australian industry corporate gearing vs. historical observed loss rates

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bps %
250 ANZ IP Loss Rate (LHS) 120
ANZ 1990-2015 median bp loss rates (LHS)
100
200 Australian Corporate Gearing lagged 15 months (RHS)
Australian Listed Corporates Actual Gearing (RHS) 80
150
60
100
40
50
20
0 0
Sep 90 Sep 94 Sep 98 Sep 02 Sep 06 Sep 10 Sep 14
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Corporate Gearing Ratio is the book value debt-to-equity ratio for Australian listed corporations. Source: RBA FSR

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Risk Weighted Assets

Total risk weighted assets (RWA)

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----- Start of picture text -----

402
$b 387
361 362
339 33 38
29 32 32 14 14
24 21
23
340 350
288 305 309
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Sep 13 Mar 14 Sep 14 Mar 15 Sep 15 Credit RWA Market & IRRBB RWA Op-Risk RWA

Total RWA movement

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----- Start of picture text -----

$b
5.9
401.9
40.9
(6.2) (0.2)
361.5
Sep 14 Credit Op IRRBB Mkt. Sep 15
RWA RWA RWA RWA
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Group EAD[1] & CRWAs

CRWA movement - Sep 15 v Sep 14

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$b
891 919
813
779
741
692
39.8% 38.9% 39.2% 38.0% 38.1% 38.1%
Mar 13 Sep 13 Mar 14 Sep 14 Mar 15 Sep 15
Exposure at Default CRWA / EAD (RHS)
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$b
4.2 1.0 349.8
17.2
18.5
308.9
Sep 14 FX Lending Portfolio Risk Sep 15
Impact Growth Data
Review
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Post CRM EAD, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral. Includes amounts for ‘Securitisation’ and ‘Other Assets’ Basel asset classes.

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Portfolio composition

Exposure at default (EAD) as a % of Group total

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ANZ Group
Total Group EAD (Sep 15)
$898b [1 ]
1.6% [5.5% ]
2.2%
1.4%
2.3%
1.9%
2.6%
3.9%
38.6%
4.6%
3.7%
6.3%
6.6%
18.8%
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EAD by industry category	EAD by industry category	EAD by industry category	EAD by industry category	Non performing by industry	Non performing by industry	Non performing by industry
Category	% of Group EAD		EAD ($m)	% of industry category in Non Performing		Balance in Non Performing ($m)
915000	Sep-14	Sep-15	Sep-15	Sep-14	Sep-15	Sep-15
Consumer Lending	39.5%	38.6%	$353b	0.2% 0.2% $555m
Finance, Investment & Insurance	17.6%	18.8%	$172b	0.0% 0.1% $100m
Property Services	6.9%	6.6%	$60b	1.3% 0.7% $401m
Manufacturing	6.3%	6.3%	$58b	0.5% 0.6% $322m
Agriculture, Forestry,Fishing	3.9%	3.7%	$34b	2.5% 1.8% $587m
Government & Official Institutions	4.0%	4.6%	$42b	0.0% 0.0% $0m
Wholesale trade	4.0%	3.9%	$36b	0.5% 0.4% $146m
Retail Trade	2.7%	2.6%	$24b	0.5% 0.7% $157m
Transport & Storage	2.3%	2.3%	$21b	2.1% 1.1% $221m
Business Services	1.9%	1.9%	$17b	1.2% 0.9% $142m
Resources (Mining)2	2.2%	2.2%	$20b	0.8% 2.3% $463m
Electricity, Gas & WaterSupply	1.6%	1.4%	$13b	0.1% 0.1% $9m
Construction	1.7%	1.6%	$15b	1.8% 1.7% $239m
Other	5.5%	5.5%	$50b	0.4% 0.4% $184m

EAD excludes amounts for ‘Securitisation’ and ‘Other Assets’ Basel asset classes. Data is provided is as at Sep 15 on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral. Note that APS330 disclosure is reported on a Pre CRM basis.
FY15 non-performing balance and % has been re-stated to accommodate post- balance date changes.

Resources Portfolio

Resources exposure by sector (% EAD)

Total EAD (Sep 15) : $20.0b

As a % of Group EAD: 2.2%

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50%
43%
39%
37%
40%
28%
30% 25%
23% 22% 23%
20% 18% 16% 15% 18% 19% 17% 14% 13%
11%
10% 6% 6% 7%
0%
Oil & Gas Metal Ore Mining Coal Mining Services to Mining¹ Other Mining
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FY12 FY13 Resources exposure credit quality (EAD)

FY14 FY15

Resources portfolio management

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AUS ($b) (includes NZ ($b) ASIA ($b) [EA & Other ] ($b)
9.7 Iron Ore 10%) 0.9 4.3 5.1
11%
27% 26%
46%
89%
73% 74%
54%
Aus NZ Asia Other
Investment Grade Sub-Investment Grade
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Portfolio is skewed towards well capitalised and lower cost resource producers. Over a third of the book is less than one year duration.
Investment grade exposures represent 68% of portfolio vs. 64% at FY14.
Trade business unit accounts for 19% of the Total Resources EAD.
Services to mining[1] customers are subject to heightened oversight given the cautious outlook for services sector.
Services to Mining includes businesses that perform a range of Mining support activities on a contract or fee basis such as petroleum and mineral exploration.

Commercial property portfolio

Commercial Property outstandings by region[1 ]

Commercial Property outstandings by sector[1 ]

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$b
8.0%
37.5
37.4
34.4
33.9 4.5 4.7
32.0 7.5%
4.5 4.1
4.1
8.4
8.3
6.9 7.0%
6.1 6.9
6.5%
6.0%
24.6 24.4
23.0 22.9
21.8
5.5%
5.0%
Sep 13 Mar 14 Sep 14 Mar 15 Sep 15
Australia New Zealand
APEA % of Group GLAs (RHS)
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----- Start of picture text -----

35%
30%
25%
20%
15%
10%
5%
0%
Offices Retail Industrial Residential Tourism Other
Sep 13 Sep 14 Sep 15
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Property portfolio management

Over the past few years, we have tightened our lending criteria within agreed strategy parameters.
This includes tightened criteria around LVR and pre-sales qualifications, as well as tightened minimum acceptable ratings for originating & renewing business.
EAD growth has primarily occurred in the metro capital city markets on the Eastern seaboard of Australia, driven by the strong residential development cycle underway.

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As per ARF230 disclosure.

Agri portfolio

Agriculture exposure by sector (% EAD)

New Zealand Dairy credit quality

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Total EAD (Sep 15) As a % of Group EAD
AUD$33.2b 3.7%
Dairy
9%
Beef
12%
39%
Sheep & Other Livestock
Grain/Wheat 16%
Horticulture/Fruit/Other
Crops 10%
14%
Forestry &
Fishing/Agriculture Services
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NZDb NZD Dairy EAD
Wt. Avg. Probability of Default (RHS)
14
13 12 2.5%
12 12 12
2.0%
1.75% 1.5%
1.59%
1.22% 1 1.0%
1.12%
0.88% 0.77% 0.5%
0.0%
Sep 10 Sep 11 Sep 12 Sep 13 Sep 14 Sep 15
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Group Agriculture EAD splits

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1% 2%
40%
59%
98%
Australia New Zealand Int Markets Productive Impaired
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7% [5% ]
19%
69%
<60% Secured 60 - < 80% Secured
80 - < 100% Secured Fully Secured
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Wholesale PD model changes account for 16bps increase in FY15.

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Industry Themes and Guidelines for Quality

Areas on Watch ANZ Lending Principles Examples	Areas on Watch ANZ Lending Principles Examples
1. Commercial Property Land and buildings primarily leased to third parties or new buildings constructed to be leased or sold to third parties.	• Focus on key markets in Australia, New Zealand, Singapore and Hong Kong • No appetite for speculative development • Limited appetite to lend against third party leased specialised buildings
2. Residential Property Residential Land and/or buildings • Variable or fixed rate • Owner occupied, investor, equity loan • Interest only or Principal & Interest	• Triggers and controls guide growth in investment, interest only and high LVR-band lending • Very limited appetite for Self Managed Super Fund lending • No appetite for reverse home loans or sub-prime loans

3. Resources Sector

Industry sectors include:

Metal Ore (Including Iron Ore)
Relationships focused on low cost producers
• We are focused on intermediating trade and FX flows • Mining infrastructure cost sustainability monitored
Mining and Mining Services
Mining infrastructure
Oil and Gas
• Coal
Preference for equipment leasing over unsecured lending
Facilitation of at least $10bn by 2020 to support our customers to transition to a low carbon economy

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Australia Division

Australia division credit exposure (EAD)

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1%
Home Loans 6%
Corporate and 24%
Commercial Banking³
Personal Loans
69%
Consumer Cards
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Australia Division 90+ day delinquencies[1 ]

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2.0%
Home Loans (inclusive of hardship change)
Corporate & Commercial Banking³
Consumer Cards
1.05%
1.0%
0.97%
0.63%
0.0%
Sep 11 Sep 12 Sep 13 Sep 14 Sep 15
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Dynamic Loan to Value Ratio (FY15)[2,4]

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% of Portfolio
50%
Sep 12
40% Mar 13
Sep 13
LVR >90%
Mar 14
30% 3.80%
Sep 14
(Sep 15) Mar 15
20% Sep 15
10%
0%
0-60% 61-75%76-80%81-90%91-95% 95%+
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Australia Home Loans 90+ dpd by state[1 ]

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Sep 12 Sep 13 Sep 14 Sep 15
1.0%
0.8%
0.6%
0.4%
0.2%
0.0%
VIC NSW QLD WA Portfolio
& ACT
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Exclusive of Non Performing Loans.
Including capitalised premiums.
Includes Small Business, Commercial Cards and Esanda Retail.
Valuations updated Sep 15 where available.

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New Zealand - market characteristics

GDP contribution by industry[1 ]

Banking market[2 ]

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Transport and
Comms
8%
Wholesale &
Retail
12%
Finance &
Business
Construction 27%
6% Government
Utilities 4%
3% Services and
other
22%
Manufacturing
11%
Primary sector
7%
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88% of NZ banking sector Net Loans & Advances ($341b) are with the big 4 banks

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Other
banks
12%
ANZ
31%
Peer 3
19%
Peer 2 Peer 1
19% 19%
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Primary sector GDP contribution[1 ]

Positive migration impact on population

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Agriculture industry [3]
Output analysis:
• Dairy ~ 30%
• Cattle & Sheep ~20%
Mining • Agri Services ~ 15%
23% • Veg. Fruit, Nut ~ 12%
• Other ~23%
Fishing,
Aquaculture,
Support Agriculture
services 57%
11%
Forestry &
Logging
9%
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Population forecast: 5m by 2030, aided by migration

Persons, 12 month total (k)

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140
PLT Arrivals
100
60
PLT Departures
Net PLT Immigration
20
-20
91 92 94 96 97 99 01 02 04 06 07 09 11 12 14
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Statistics NZ
KPMG Financial Institutional Performance Survey Review 2014 3. Statistics NZ, ANZ analysis

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New Zealand

New Zealand Geography gross impaired assets

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NZDm Gross Impaired Assets GIA as % GLA
1,818
1,451
955
1.92%
1.49% 708
419
0.95%
0.67%
0.36%
Sep 11 Sep 12 Sep 13 Sep 14 Sep 15
New Zealand Division
90+ days delinquencies
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1.5%
Home Loans Commercial Agri
1.0%
0.5%
0.0%
Sep 07Sep 08Sep 09Sep 10Sep 11Sep 12Sep 13Sep 14Sep 15
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New Zealand Geography total provision charge

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NZDm IP Charge CP Charge
200 105
85
150 103 99
44
100
30 45
22
31
50 -39
0
-50
-100
1H11 2H11 1H12 2H12 1H13 2H13 1H14 2H14 1H15 2H15
Mortgage Dynamic Loan to Value Ratio [1 ]
5%
7%
0-60%
16%
61-70%
71-80% 54%
81-90%
90%+ 18%
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Average dynamic LVR as at Aug 2015 (not weighted by balance).

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FULL YEAR RESULTS 2015 A U S T R A L I A A N D N E W Z E A L A N D B A N K I N G G R O U P L I M I T E D 2 9 O c t o b e r 2 0 1 5

Portfolio composition by exposure at default International & Institutional Banking (IIB) Asia China

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ANZ Institutional Portfolio Country of Incorporation[2]

Institutional Portfolio size & tenor (EAD)[1 ]

ANZ Institutional industry composition

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A$b EAD(September 15): AU$392b [1]
Finance (Banks and Central Banks)
400
Government Admin.
Property Services³
350
30%
35% Services to Fin. & Ins.
Machinery & Equip Mnfg
300
51%
Basic Material Wholesaling
3%
3%
10% Electricity & Gas Supply
3%
250
4% 8%
4% Petroleum,Coal,Chem & Assoc Prod
Mnfg
Other⁴
200
40% ANZ Institutional product composition
150
EAD(September 15): AU$392b [1]
100 49% Loans & Advances
29% 14%
Traded Securities (e.g. Bonds)
60% 2% 25%
50 Contingent Liabilities &
71% 12% 12% commitments
Trade & Supply chain
88%
- 13% 19% Derivatives & Money Market Loans
Total APEA Asia China Gold Bullion
Institutional
16% Other
Tenor < 1 Yr Tenor 1 Yr+
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Data is provided is as at Sep 15 on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral. Position excludes Basel Asset Class “Retail”. 2. Country is defined by the counterparty’s Country of Incorporation 3. 81% of the ANZ Institutional “Property Services” portfolio is to entities incorporated in either Australia or New Zealand. 4. Other is comprised of 48 different industries with none comprising more than 2.5% of the Institutional portfolio.

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ANZ Asian Institutional Portfolio Country of Incorporation

Country of Incorporation[2 ]

EAD(September 15): AU$103b[1]

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8%
5%
26%
5%
6%
7%
15%
14%
14%
China Singapore HK
Japan Taiwan Sth Korea
Indonesia India Other
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ANZ Asia industry composition

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----- Start of picture text -----

EAD(September 15): AU$103b [1]
Finance (Banks & Central
Banks)
Machinery & Equip Mnfg
28%
Property Services
44% Petrol,Coal,Chem & Assoc
Prod Mnfg
Basic Material Wholesaling
3%
4% Pers & Household Good
5% Wholesaling
5% Machinery & Motor Vehicle
5% 6% W'saling
Other³
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ANZ Asia product composition

EAD(September 15): AU$103b[1]

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Loans & Advances
14%
Gold Bullion
5% 31%
Trade & Supply chain
8%
Derivatives & Money Market
Loans
14% 6% Traded Securities (e.g.
Bonds)
Contingent Liabilities &
22% commitments
Other
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Data is provided is as at Sep15 on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral. Position excludes Basel Asset Class “Retail”.

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Country is defined by the counterparty’s Country of Incorporation.
Other is comprised of 46 different industries with none comprising more than 2.5% of the Asian Institutional portfolio.

ANZ China portfolio Country of Incorporation[2 ]

ANZ China industry composition (EAD)[1 ]

China EAD

Total China EAD of A$27b, with 38% or $10.3b booked onshore in China.

Tenor ~88% of EAD has a tenor less than 1 year

Risk rating

China exposure has a stronger average credit rating than Asia, APEA, Australia and NZ, with lower historic credit provisions and loss rates.

Industry

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7% Finance (Banks and Central
3% Banks)
10% Manufacturing
Wholesale Trade
58% Transport & Storage
21%
Other
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58% of China exposures to Financial institutions, with ~55% of this to the Top 5 Chinese systemically important banks.

ANZ China product composition (EAD)[1 ]

Products

Mix focused on short term trade and markets facilities providing flexibility to change composition of the portfolio
Within Global loans and advances circa 63% have a tenor of less than 1 year

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1%
Loans & Advances
7%
3% 20%
Gold Bullion
Trade & Supply chain
20%
Derivatives & Money Market
Loans
19%
Traded Securities (e.g.
Bonds)
Contingent Liabilities &
commitments
29%
Other
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Data is provided is as at Sep15 on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral. Position excludes Basel Asset Class “Retail”.

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Country is defined by the counterparty’s Country of Incorporation.

FULL YEAR RESULTS 2015

A U S T R A L I A A N D N E W Z E A L A N D B A N K I N G G R O U P L I M I T E D 2 9 O c t o b e r 2 0 1 5

Divisional performance

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Divisional overview

Profit growth[1 ]

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$m
5,521 7%
Australia Division
3,274 7%
3,803 1%
IIB
2,664 2%
1,620 9%
NZ Division
1,127 5%
755 2%
Wealth
601 11%
Profit Before Provisions (PBP) Cash Profit
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Excludes GTSO and Group centre

Digital investment is transforming the business

Digitally connected

Highly engaged

Easy path to purchase

+9%

increase in digitally active customers[1 ] (25% uplift from 2012)

+10% increase in transactions via Digital[2 ] (39% uplift from 2012)

+30% increase in Digital Sales (110% uplift from 2012)

>50%

Of all card PINs now selected using Digital channels

66% Of transactions via Digital Channels (up from 61% in FY14)

+32% increase in Sales revenue from Digital Sales

Winner Celent Model Payments Innovation 2015 (Global Payments)

10.5m Customer logins to GROW since launch

+36% Increase in volume of FX deals processed through Global FX

+14.5% Growth in self directed solutions[3 ]

$2.5 trillion Of value processed through Global Wholesale Digital this year

65% CAGR Growth in digitally enabled FUM (ANZ SmartChoice / KiwiSaver)⁴

All numbers YoY except where indicated

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1: 12 months to July 2015; 2: Total volume of Digital transactions (IB, goMoney, Grow); 3. As at 30 June 2015 – customers who ask to connect via / receive information via mobile; 4. ANZ SmartChoice includes Retail & Employer. CAGR FY13-15.

Australia

Australia Division FY15 results

	FY15 2H15
	$m % gth YOY1 $m % gth HOH1
Net Interest Income Other Income	7,509 6% 3,839 5% 1,169 5% 598 5%
Total Income Retail C&CB2 Expenses	8,678 6% 4,437 5% 5,334 8% 2,758 7% 3,344 3% 1,679 1% 3,157 5% 1,601 3%
PBP Provision charge	5,521 7% 2,836 6% 853 4% 458 16%
NPAT	3,274 7% 1,672 4%
Net Interest Margin Cost to Income Net Loans and Adv. Customer Deposits Provision % of avg GLA	2.50% (2bps) 2.50% flat 36.4% (42bps) 36.1% (61bps) 313,672 9% 313,672 5% 169,280 5% 169,280 4% 28bps (1bp) 30bps 3bps

Net Profit contribution by P&L Line ($m)

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107 53
347 5
(27)
(142) (35) 3,274
(88)
3,054
Retail C&CB [2 ]
FY14 Vol. Margin Vol. Margin OI Exp. Prov. Tax FY15
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Net Profit contribution by business ($m)

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----- Start of picture text -----

42 3,274
178
3,054
FY14 Retail C&CB² FY15
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YoY: Comparisons are on a cash basis comparing 12 months to 30 September 2015 to 12 months to 30 September 2014. HoH: Comparisons are on a cash basis comparing 6 months to 30 September 2015 to 6 months to 31 March 2015.
C&CB refers to Corporate and Commercial Banking.

Australia

Australia Division – overview Delivering strong returns

Revenue ($m) & NIM

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7,293 [ 7,804 8,193 8,678 ]
2.48% 2.53% 2.52% 2.50%
FY12 FY13 FY14 FY15
Revenue NIM
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Rev. per FTE ($’000) & CTI

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----- Start of picture text -----

887
827
798
739
41.0% 37.5% 36.8% 36.4%
FY12 FY13 FY14 FY15
Revenue/FTE CTI
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PBP ($m)

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----- Start of picture text -----

5,521
5,178
4,885
4,323
FY12 FY13 FY14 FY15
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Credit quality

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----- Start of picture text -----

315
289
273
256
0.70%
0.62%
0.43%
0.38%
Sep 12 Sep 13 Sep 14 Sep 15
GLA ($b) GIA as % of GLAs (%)
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Cash profit ($m)

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----- Start of picture text -----

3,274
3,054
2,854
2,571
FY12 FY13 FY14 FY15
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Return on RWAs

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----- Start of picture text -----

2.78% 2.78% 2.82% 2.81%
FY12 FY13 FY14 FY15
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Australia

Australia Division – balance sheet overview Strong second half momentum

Lending[1] growth ($b)

2015 lending[1] flows – Retail ($b)

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----- Start of picture text -----

+4% +6%
314
271 288
254 33 - 229 39 - 242
220
(26)
(24)
FY12 FY13 FY14 FY15 FY14 New Net Repay/ 1H15 New Net Repay/ FY15
Fundings Personal Refis/ Fundings Personal Refis/
Business Lending (C&CB) & Redraws Loans and Other & Redraws Loans and Other
Other Retail Cards Cards
Home Loans
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Deposit growth ($b)

2015 lending[1] flows – C&CB ($b)

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----- Start of picture text -----

+1% +4%
152 161 169
140 67.6 0.6 0.4 0.0 0.2 68.4 0.9 [ 0.7 0.5 0.8 0.1 71.3 ]
(0.4)
FY12 FY13 FY14 FY15 FY14 Small Bus. Reg. Corp. Esanda 1H15 Small Bus. Reg. Corp. Esanda FY15
Bus. Bank Bus. Bank Bus. Bank Bus. Bank
Transact & Save Online TD Offset
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Lending refers to Net Loans and Advances.

Australia

Delivered strong outcomes in customer acquisition, product penetration and sales

Grow customers (‘000)

Grow products per customer (%)

Australia Division

Retail Products per Customer

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----- Start of picture text -----

5,900 +~412k
5,800
5,700
5,600
5,500
5,400
5,300
5,200
5,100
Sep 12 Sep 13 Sep 14 Sep 15
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Multiple 56.1 57.2 58.2 59.0
Single 43.9 42.8 41.8 41.0
Sep 12 Sep 13 Sep 14 Sep 15
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Deepening customer relationships ($m)

Strong sales outcomes (PCP[1] )

C&CB Cross Sell

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----- Start of picture text -----

6% CAGR
1,400
1,200
1,000
800
600
400
200
0
FY12 FY13 FY14 FY15
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Sales growth

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----- Start of picture text -----

NSW Home
63%
Loans
Business
33%
Lending
Cards 29%
Home Loans 24%
Personal Loans 16%
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Cards refers to Card acquisition (number of accounts). All other metrics relate to gross lending FUM on acquisition. PCP: Comparing end of period 30 September 2015 to 30 September 2014.

Australia

Delivered strong revenue and volume growth, while managing costs and credit quality

Strong FUM growth (PCP[1] )

Effective margin management (NIM %)

FUM growth

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----- Start of picture text -----

NSW Home
20%
Loans
Home Loans 10%
Retail Deposits 6%
Business
6%
Lending
Business
4%
Deposits
Cards &
3%
Personal Loans
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----- Start of picture text -----

2.53 2.52
2.50
2.48
56% 58%
FY12 FY13 FY14 FY15
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Strong revenue growth

Costs and provisions well managed

CTI (%) IP Loss Rate (bps)

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----- Start of picture text -----

7%
6%
5%
2%
FY12 FY13 FY14 FY15
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----- Start of picture text -----

41.0
28
36.4
25
FY12 FY15 FY12 FY15
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PCP: Comparing end of period 30 September 2015 to 30 September 2014.

Australia

Transforming our channels, delivering an enhanced customer experience

Improving the Customer Experience

Aligning branches to customers’ needs

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6 new ‘digital’ branches with striking customer-led design
Better support for customers with assisted service on digital devices
Enhanced privacy for goal-based customer discussions via digital A-Z Reviews
Streamlined capture, use and re-use of data to fulfil customers’ financial needs

New Tools for Customers & Bankers

Increased ATM Functionality & Security

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New appointment booking tool for customer discussions
A-Z Reviews for over 2,000 customers per day
New borrowing scenario tool for mortgage specialists
Real Time Customer Feedback across all channels
‘Big data’ driving more intelligent leads and offers
World first ‘tap & pin’ technology for chip-based (EMV) security and speed

Branch Cash Transactions[1 ] Smart ATM Deposits

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-9% +117%
FY 14 FY15 FY14 FY15
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Branch Over the Counter Transactions

Australia

Small Business Banking Strong performance by a leading proposition and sustained focus

Strong Performance, Well Diversified, Sound Quality

Leading Proposition

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----- Start of picture text -----

NLAs
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----- Start of picture text -----

NLAs Deposits
14% CAGR 7% CAGR
$b $b
15 35
30
25
10
20
15
5
10
5
0 0
Sep 12 Sep 13 Sep 14 Sep 15 Sep 12 Sep 13 Sep 14 Sep 15
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Lending by Geography[1 ]

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Lending and Credit Quality
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----- Start of picture text -----

20 2.0%
15 1.5%
10 1.0%
5 0.5%
0 0.0%
Sep 12 Sep 13 Sep 14 Sep 15
GLA ($b) GIA as % of GLAs (RHS)
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----- Start of picture text -----

1%
9%
VIC/TAS
NSW 11% 33%
QLD
WA 19%
SA
Other 27%
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First in market, leading needs assessment solution (Digital A-Z Review)

#1 

Tailored solutions (e.g. Start Ups Package), policies and processes

Funds disbursed within 24 hours of drawdown request

~80%

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----- Start of picture text -----

Continued Investment
More small business
 8%
bankers added in FY15
Branch sales staff
accredited to serve
~70%
small business
customers
Expanded lending
$2b pledge for new small
businesses
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Gross lending assets (excluding cross-sell) by geography.

New Zealand

New Zealand Division Balance sheet momentum coupled with productivity gains

	FY15 2H15
	NZDm % gth YOY1 NZDm % gth HOH1
Net Int Income Other Income	2,498 5% 1,257 1% 397 4% 201 3%
Total Income Retail & SBB CommAgri Other2 Expenses	2,895 5% 1,458 1% 1,957 5% 989 2% 921 5% 461 0% 17 70% 8 (11%) 1,148 2% 572 (1%)
PBP Provision charge	1,747 7% 886 3% 59 large 39 95%
NPAT	1,215 3% 610 1%
Net Interest Margin Cost to Income Net Loans and Adv. Customer Deposits Provision % of avg GLA	2.48% (1 bps) 2.44% (8 bps) 39.7% (127 bps) 39.2% (85 bps) 104,756 8% 104,756 5% 65,689 14% 65,689 7% 0.06% 7 bps 0.08% 3 bps

Net Profit contribution by P&L Line (NZDm)

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----- Start of picture text -----

3 [ 15 ]
48
91 (1)
(21)
(15) 1,215
1,177
(68) (14)
R&SBB CommAgri
FY14 Vol. Marg. Vol. Marg. Other OI Exp. Prov. Tax FY15
NII
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Net Profit contribution by business (NZDm)

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----- Start of picture text -----

61
1,215
(23)
1,177
FY14 Retail & SBB CommAgri FY15
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YOY: Comparisons are on a cash basis comparing 12 months to 30 September 2015 to 12 months to 30 September 2014. HOH: Comparisons are on a cash basis comparing 6 months to 30 September 2015 to 6 months to 31 March 2015.
Other = Central Functions.

New Zealand

New Zealand Division – overview Strong returns, high quality portfolio

Revenue (NZDm) & NIM

PBP[1] (NZDm)

Cash profit (NZDm)

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----- Start of picture text -----

2,658 2,682 [ 2,754 2,895 ]
2.58% 2.49% 2.49% 2.48%
FY12 FY13 FY14 FY15
Revenue NIM
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----- Start of picture text -----

1,627 1,747
1,513
1,380
FY12 FY13 FY14 FY15
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----- Start of picture text -----

1,177 1,215
1,060
861
FY12 FY13 FY14 FY15
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Rev. per FTE (NZDk) & CTI

Credit Quality

Return on RWAs

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----- Start of picture text -----

571
544
504
440
48.0%
43.6%
40.9% 39.7%
FY12 FY13 FY14 FY15
Revenue/FTE CTI
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----- Start of picture text -----

2.12% 2.15% 2.06%
1.61% 1.74%
0.93%
0.61%
0.35%
Sep 12 Sep 13 Sep 14 Sep 15 FY12 FY13 FY14 FY15
GIA as a % of GLAs
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PBP: Profit before provisions.

New Zealand

New Zealand Division – balance sheet overview $8b lending growth, largely funded by deposits

Lending[1] growth (NZDb)

2015 lending[2] flows – Retail & Small Bus. Bank (NZDb)

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105
97
88 92
60 6 3 62 8 3 65
(4) (3) (5) (3)
FY12 FY13 FY14 FY15 FY14 New Exit Top upRepay 1H15 New Exit Top upRepay FY15
Retail & SBB CommAgri
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Deposit[3] growth (NZDb)

2015 lending[2] flows – Commercial & Agri (NZDb)

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66
58
50 52
FY12 FY13 FY14 FY15
Retail & SBB CommAgri
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40
37 2 3 38 3 3
(2) (2) (2) (2)
FY14 New Exit Top upRepay 1H15 New Exit Top upRepay FY15
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Net loans and advances.
Gross loans and advances excluding capitalised brokerage/mortgage origination fees, unearned income and customer liabilities for acceptances.
Customer deposits.

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New Zealand

Delivering results through sales Building a world class sales and service capability

Customer satisfaction[1 ]

R&SBB sales productivity

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89%
86%
85% 85%
84%
Sep 13 Mar 14 Sep 14 Mar 15 Sep 15
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NZDk m
110 10
8
100
6
90
4
80
2
70 0
1H14 2H14 1H15 2H15
Sales /sales FTE² (LHS)
Transactions in branches³ (RHS)
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Products per customer

CommAgri customer revenue recognised in other segments[4 ] (NZDm)

% of Retail customers

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1.9m 1.9m 2.0m
15% 18% 19%
47% 46% 47%
38% 36% 34%
Sep 13 Sep 14 Sep 15
1 2-3 4+
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143
121
101
63
50
37
65 71 80
FY13 FY14 FY15
Institutional Retail & Wealth
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Source: Camorra Retail Market Monitor (RMM), 6 month rolling.
Mix of FTE across Branch, Specialist Distribution, Contact Centre, Small Business Banking and Migrant Banking. 3. Over the counter branch transactions.
Retail includes Small Business Banking.

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New Zealand

Strong and stable returns for the ANZ Group Delivering through focus on 5 priority products

Growth in key products in FY15

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Household
Mortgages [1 ] Credit Cards [1 ] Life Insurance [2 ] KiwiSaver [3 ]
Deposits [1]
+53 bps +101 bps +23 bps +19 bps +66 bps
31.0% 31.6% 30.9%
29.8% 29.3%
29.1%
26.9%
26.2%
9.5% 9.7%
Sep 14 Aug 15 Sep 14 Aug 15 Sep 14 Aug 15 Sep 14 Jun 15 Sep 14 Sep 15
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Source: RBNZ, share of all banks.

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Source: FSC (Financial Services Council), share of all providers. 3. Source: IRD, member share of all providers.

New Zealand

New Zealand – Agri[1] Focusing on high quality incremental growth

Agri Portfolio[2 ] (NZDb)

Credit Quality

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Dairy as a % of total NZ Geog
40
12% 11% 11% 10%
30
+3%
20
10
0
FY12 FY13 FY14 FY15
Dairy Sheep & Beef Other Rural
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3.61%
1.99%
1.05%
0.69%
Sep 12 Sep 13 Sep 14 Sep 15
GIA as % of GLAs
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Market Share[3]

Approach to the Agriculture Sector

Agriculture

High quality, low LVR dairy portfolio

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34.5% 33.3% 32.3% 31.6%
8.3%
5.6%
6.0%
3.9%
2.9%
0.3%
(0.2%)
(2.0%)
FY12 FY13 FY14 FY15
ANZ growth System growth ANZ market share
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Focus on supporting existing dairy customers
Diversified agriculture portfolio
Continuing to grow sheep & beef and horticulture segments
Stringent credit assessment process
New Zealand Geography.
Gross loans and advances.
Source: RBNZ, share of all banks – FY15 as at August 2015.

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Global Wealth

Global Wealth Division Financial Performance Delivering strong financial performance

	FY15	FY15	FY15	2H15 $m1 % gth HoH2 880 4% 90 2% 94 (3%) 696 5% 290 2% 348 5% 127 2% 486 (1%) 394 9% (1) large 342 32% 66,993 4% 18,467 6% 2,217 3% 4,422 5% 109 11%	PBP($m)
	$m1	% gth YOY2	% gth (ex trustees) 3	$m1 % gth HoH2
Income	1,730 (1%)		7% 6% (6%) 9% 6% 18% 4% 1% 15%	880 4%
Net Int Inc OI	178 6% 191 (42%)			90 2% 94 (3%)
FM & Insurance	1,361 9%			696 5%
Funds Mgt Insurance Private Wealth Expenses	574 6% 680 18% 251 (31%) 975 (3%)			290 2% 348 5% 127 2% 486 (1%)
					Cash profit ($m)
PBP	755 2%			394 9%	366 421 478 601 FY12⁵ FY13⁶FY14³ FY15
Provisions	0 large		large	(1) large
NPAT1	601 11%		26%	342 32%
Average FUM Deposits (customer) Inforce Premiums EV4 VNB	65,805 7% 18,467 33% 2,217 9% 4,598 18% 200 18%		11% 33% 9% 18% 18%	66,993 4% 18,467 6% 2,217 3% 4,422 5% 109 11%

1.FY15 and 2H15 NPAT includes a $56m non-recurring tax consolidation benefit. 2. YoY: Comparisons are on a cash basis comparing 12 months to 30 September 2015 to 12 months to 30 September 2014. HoH: Comparisons are on a cash basis comparing 6 months to 30 September 2015 to 6 months to 31 March 2015. 3. FY14 results normalised for ANZ Trustees gain on sale income (-$125m), ANZ Trustees related expenses ($41m), NPAT net impact (-$64m), FY14 average FUM normalised to exclude ANZ Trustees FUM ($2,033m). 4. Embedded value is gross of transfers. 5. FY12 results normalised for a non-recurring software impairment ($29m). 6. FY13 results normalised for a one-off tax consolidation adjustment (-$50m)

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Global Wealth

Global Wealth - Insurance Continues to deliver growth in inforce premiums and embedded value

Stable mix of Life Insurance

inforce ($m)

Lapse rates[1] (%)

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+22%
1,707
1,514 1,538
1,398
25%
24%
29%
31% 11%
11%
10%
9%
60% 61% 65% 64%
FY12 FY13 FY14 FY15
Individual - Aus Individual - NZ Group - Aus
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Australia
CAGR -3%
14.7 14.6
13.5 13.3
FY12 FY13 FY14 FY15
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New Zealand
CAGR -2%
16.6 15.9 16.1 15.8
FY12 FY13 FY14 FY15
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Individual Life Insurance product mix ($m)

Embedded Value growth[2][($m) ]

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+33% 366 31 111 4,598 4,566
207
3,883
1,284 (32)
1,178
1,067
967 28%
28%
28%
28%
+18%
72% 72% 72% 72%
FY12 FY13 FY14 FY15 Sep 14 Value of Expected Experience Risk Disc & Subtotal Net Sep 15
New Bus. Return Deviations FX Transfers
Lump Sum Income Protection
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A definition change to the Australian Retail risk lapse rate was made to reflect the inclusion of partial premium reductions within the policy renewal period. Prior comparative periods have been restated to align with revised methodology.

Includes Insurance and Funds Management businesses in Australia and New Zealand.

Global Wealth

Global Wealth – Funds Management & Private Wealth Positive volume growth in customer deposits and key digital solutions

Funds Mgt average FUM[1] ($b) Funds Mgt netflows[1 ] ($m)

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Private Wealth [2 ]
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+31% Investment FUM ($b)
2,212
1,933 +94%
65.8
61.3 7.0
55.0
50.4 5.8
4.8
3.6 5.0
4.5
3.9
(408) 3.1
(905) 0.5 0.9 1.3 2.0
FY12 FY13 FY14 FY15 FY12 FY13 FY14 FY15
Sep 12 Sep 13 Sep 14 Sep 15
Australia New Zealand
Funds Management FY15 netflows by solution ($m)
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Customer Deposits ($b)
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Reshaping our funds business to customer centric digital solutions
+97%
2,308
18.5
1,223 1,269
1,006
292
13.8
11.6
9.4
(2,160) (2,005)
ANZ Smart ANZ ANZ Private OneAnswer Oasis Voyage Retail Employee
Choice KiwiSaver Wealth Frontier Super
Super Sep 12 Sep 13 Sep 14 Sep 15
Open customer solutions Closed solutions
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Funds Management average FUM and netflows include Private Wealth Investment FUM.
Private Wealth Investment FUM has been normalised to exclude ANZ Trustees FUM in the prior comparative periods.

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IIB

International & Institutional Banking (IIB) FY15 results

	FY15 2H15 $m % gth YOY1 $m % gth PCP1 % gth HOH1 4,173 4% 2,146 7% 6% 3,246 5% 1,487 1% (15%) 7,419 4% 3,633 4% (4%) 5,818 0% 2,826 0% (6%) 956 17% 495 20% 7% 608 25% 300 26% (3%) 3,616 10% 1,845 12% 4% 3,803 (1%) 1,788 (3%) (11%) 295 37% 197 Large Large 2,664 (2%) 1,205 (10%) (17%) 43.7% 17 bps 40.9% (119 bps) (554 bps) 1.34% (16 bps) 1.34% (11 bps) 0 bps 48.7% 265 bps 50.8% 344 bps 402 bps 0.19% 4 bps 0.25% 17 bps 12 bps 0.76% 0 bps 0.76% 0 bps 11 bps	Revenue contribution by product
		7,105 7,419 165 21 10 3039 79 82 121139 FY14 B-S Trading TSC GL Central Fn Mkts Trading PCM Mkts Sales Asia P'Ship Retail Asia Pac FY15
Net Interest income Other operating income
Total Income Global Products Retail Asia Pacific Asia Partnerships Operating expenses
		Net Profit contribution by P&L Line
PBP Credit impairment charge
		2,708 2,664 164 150 (341) (79) 62 FY14 NII OOI Exp. Prov. Tax & NCI FY15
NPAT OOI/Total Income NIM Cost to income Credit impair. chg/Avg GLA GIA as a % of GLA

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7,419
121 [ 139 ]
7,105
10 30 [ 39 79 82 ]
165 21
FY14 B-S TSC GL Fn Mkts PCM Mkts Sales Asia P'Ship FY15
Trading Central Trading Retail Asia Pac
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YoY: Comparisons are on a cash basis comparing 12 months to 30 September 2015 to 12 months to 30 September 2014. HoH: Comparisons are on a cash basis comparing 6 months to 30 September 2015 to 6 months to 31 March 2015. Notes: GL: Global Loans and Advisory. PCM: Payments and Cash Management. TSC: Trade and Supply Chain. GIA: Gross Impaired Assets. GLA: Gross Loans and Advances. NCI: Non-controlling interest. B-S Trading: Balance Sheet Trading

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IIB

IIB revenue continued to grow But profit was challenged

Revenue ($m)

PBP ($m)

Cash profit ($m)

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----- Start of picture text -----

$k
1,000
6,425 [6,580 7,105 7,419 ]
800
2,759 2,909 [3,096 3,246 ] 600
400
3,666 3,671 [4,009 4,173 ] 200
0
FY12 FY13 FY14 FY15
OOI NII OOI / FTE (RHS)
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3,830 3,803
3,605
3,421
FY12 FY13 FY14 FY15
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2,708
2,441 2,664
2,162
FY12 FY13 FY14 FY15
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Revenue waterfall ($m)

Expense waterfall ($m)

Geographic cash profit

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3,616
490 269 8 [ 25 36 3 ]
7,419
55 3,275 49% 49% 43% 40%
55
(197) [(84) ] 29 [ 42 ]
(73) - 11% 12%
(3) 11% 10%
7,105
40% 41% 46% 48%
FY14 FX Pers. D&A Comp. Other FY15 FY12 FY13 FY14 FY15
Impact Cost¹ costs²
Aus NZ APEA
FY14 FX Impact B-S Trading TSC GL Mkts Trading Mkts Sales Central Fn Retail Asia Pac PCM Asia P'ships FY15
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Personnel costs. 2. Compliance costs

GL: Global Loans & Advisory. PCM: Payments and Cash Management. TSC: Trade and Supply Chain. B-S Trading: Balance Sheet Trading

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IIB

Strong customer funding base and disciplined risk mana ement su rowth g pport targeted balance sheet g

Increasing geographic diversification

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Net Loans and Advances
$b 141
142
14
125 6 7
110
6
6 58 61
51
50
68 78 73
54
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Sep 12 Sep 13 Sep 14 Sep 15
APEA Aus NZ FX (Sep 14 base)
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Credit quality

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GIA as a % of GLA
2.08%
1.46%
0.76%
0.76%
Sep 12 Sep 13 Sep 14 Sep 15
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Provisions impacted by FY14 collective provision benefit

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$m
216 295
290 291
4
-74
FY14 FY15
CP Charge IP Charge
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Asset risk grade profile

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1% 0% 1% 0%
24% 22% 21% 19%
75% 78% 78% 81%
Sep 12 Sep 13 Sep 14 Sep 15
Inv Grade Sub Inv Grade Default
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Asset tenor profile

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FY15
37% 36%
48% 50%
69%
63% 64%
52% 50%
31%
Sep 12 Sep 15 Asia Aus NZ
Tenor < 1Yr Tenor > 1Yr
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IIB

The Asia franchise performed well Delivering growth and improving productivity

IIB Asia Revenue ($m)

IIB Asia Institutional Revenue ($m)[1 ]

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3,084
2,709
2,278
2,011 46%
47%
47%
48%
54%
53%
52% 53%
FY12 FY13 FY14 FY15
Net Interest Income Other Operating Income
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----- Start of picture text -----

1,602
1,508
10%
9%
1,204
1,033 9% 25% 29%
10%
27%
27% 22% 18%
24%
26%
44% 43%
40%
37%
FY12 FY13 FY14 FY15
GM TSC GL PCM
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IIB Asia Revenue per FTE ($’000)

Cash profit ($m)

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----- Start of picture text -----

712
594
472
405 385
316
252
210
FY12 FY13 FY14 FY15
Rev / FTE OOI / FTE
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----- Start of picture text -----

960
907
672
528
FY12 FY13 FY14 FY15
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IIB Asia Institutional excluding partnerships Notes: GM: Global Markets. 4GL: Global Loans and Advisory. PCM: Payments and Cash Management. TSC: Trade and Supply Chain.

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IIB

Record Global Markets customer sales revenue Trading & Balance Sheet impacted by 4Q trading conditions

Customer facing markets revenue is growing

…in APEA across diverse product range

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$m Sales Trading Balance Sheet Val’n Adj. for
Derivatives
1,286
1,207
1,139
609 529 573 550
409 389
42 36
-53
FY13 FY14 FY15 FY13 FY14 FY15 FY13 FY14 FY15 FY13 FY14 FY15
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Revenue by region $m Revenue by product

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----- Start of picture text -----

2,104 2,328 2,284 23% 27% 15%
8%
5% 5% 11%
47% 48% 12% 12%
43%
24%
18%
17%
11% 12% 14%
46% 41% 38% 42% 39% 42%
FY13 FY14 FY15 FY13 FY14 FY15
FX Rates
Aus NZ APEA Capital Markets Commodities
Other
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Notwithstanding Q4 market dislocation

Risk position remains conservative

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-10% -16%
Revenues
$m -10% 1,226 1,242
1,108 1,101
1,042
996
1H13 2H13 1H14 2H14 1H15 2H15
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$
$m -10% 1,226 1,242 200
1,108 1,101
150
1,042
996
100
50
0
1H13 2H13 1H14 2H14 1H15 2H15 FY12 FY13 FY14 FY15
Sales / Trading Rev per $VaR
Balance Sheet Rev per $ VaR
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IIB

Trade and Cash Management are delivering in tougher conditions

PCM revenue is at record levels

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$m
1,102
1,022
5%
873 5% 15%
13%
5% 14%
12% 14%
14%
68% 66%
69%
FY13 FY14 FY15
Aus NZ Asia PEA
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Trade revenues broadly flat …

Deposit growth is strong

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$b
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----- Start of picture text -----

+12%
86 96
76
FY13 FY14 FY15
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… despite a significant decline in commodity prices

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$m Maturity of Funded
Trade Book (days)
718 697 7% 181 +
663
31% 91 - 180
261 256
263
43 42 16% 61 - 90
35
16% 31 - 60
365 414 399
30% 1 - 30
FY13 FY14 FY15 Sep 15
APEA NZ Aus
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----- Start of picture text -----

Oil Price movement Funded Trade Book
140
120
100 -65% 53%
80
-58%
10%
60
10%
40
37%
20 37%
0
Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Sep 15
Resources
Oil Core trade volume index (100 = Sep 13)
Agriculture
Oil price index (100 = Sep 13) DI
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Notes: PCM: Payments and Cash Management. PEA: Pacific and EMEA

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FULL YEAR RESULTS 2015

A U S T R A L I A A N D N E W Z E A L A N D B A N K I N G G R O U P L I M I T E D 2 9 O c t o b e r 2 0 1 5

Home Loan / Mortgage Portfolio

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Australia

Retail - Home Loans

Good Business Growing Strongly $231b Home Loan Portfolio (40% of the group) 10% Strong FUM growth driving $2.7b revenue 29% Complaint volumes. 3rd consecutive year of double digit reduction # 1 Award winning – Mortgage Lender or the Year2& Best First Home Buyer3 24% Sales of $66b up significantly on FY14 36% Increase in Proprietary channel FUM growth 1.31x x System growth 20% NSW Home Loan FUM growth	Good Business Growing Strongly $231b Home Loan Portfolio (40% of the group) 10% Strong FUM growth driving $2.7b revenue 29% Complaint volumes. 3rd consecutive year of double digit reduction # 1 Award winning – Mortgage Lender or the Year2& Best First Home Buyer3 24% Sales of $66b up significantly on FY14 36% Increase in Proprietary channel FUM growth 1.31x x System growth 20% NSW Home Loan FUM growth	Good Business Growing Strongly $231b Home Loan Portfolio (40% of the group) 10% Strong FUM growth driving $2.7b revenue 29% Complaint volumes. 3rd consecutive year of double digit reduction # 1 Award winning – Mortgage Lender or the Year2& Best First Home Buyer3 24% Sales of $66b up significantly on FY14 36% Increase in Proprietary channel FUM growth 1.31x x System growth 20% NSW Home Loan FUM growth	Good Business Growing Strongly $231b Home Loan Portfolio (40% of the group) 10% Strong FUM growth driving $2.7b revenue 29% Complaint volumes. 3rd consecutive year of double digit reduction # 1 Award winning – Mortgage Lender or the Year2& Best First Home Buyer3 24% Sales of $66b up significantly on FY14 36% Increase in Proprietary channel FUM growth 1.31x x System growth 20% NSW Home Loan FUM growth
	24%	Sales of $66b up significantly on FY14
	36%	Increase in Proprietary channel FUM growth
	1.31x	x System growth
	20%	NSW Home Loan FUM growth

Managed Prudently

Dynamic LVR of the Dynamic LVR of the 50% 50% portfolio portfolio % of population % of population 42% 42% ahead on their ahead on their repaymentsrepayments[4 ][3 ] Individual provision Individual provision charge as % of charge as % of 1bp 1bp Gross Loans & Gross Loans & Advances Advances 90+ days past due 90+ days past due 63bps 63bps delinquency rate delinquency rate

APRA excluding incorporations, as at August 2015.
Australian Lending Awards Feb 15.

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CANSTAR Bank of the Year awards July 2015.
% of Customer > 30 days ahead of repayment.

Australia

Retail - Home Loans Portfolio remains strong

Portfolio Statistics[1] FY14 FY15

Portfolio Statistics1	FY14	FY15
Total Number of Home Loan Accounts	919k	954k
Total Home Loans FUM	$209b	$231b
% of Total Australia Geography Lending	60%	60%
% of Total Group Lending	40%	40%
Owner Occupied Loans - % of Portfolio2	61%	61%
Investor Loans - % of Portfolio2	39%	39%
Offset balances	$18b	$22b
% of Portfolio Paying Interest Only8,9	34%	37%
% of Portfolio Ahead on Repayments7,8	45%	42%

Portfolio Statistics1 FY14 FY15	Portfolio Statistics1 FY14 FY15
Average Loan Size at Origination3,4 $352k	$389k
Average Loan Size $227k	$242k
Average LVR at Origination3,4,5 71%	71%
Average Dynamic LVR of Portfolio4,5,6 50%	50%
First home buyer 7%	7%
Broker originated 47%	48%
Low doc 9%	7%
Group Loss Rates 0.22%	0.20%
Home Loans Loss Rate 0.01%	0.01%

Exclusive of non performing loans, exclusive of offset balances. 2. Excludes Equity Manager. 3. Originated FY15. 4. Unweighted . 5. Including capitalised premiums. 6. Valuations updated Sep 2015 where available. 7. % of Customer >30 days ahead of repayments. 8. Excludes revolving credit. 9. At reporting period.

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Australia

Retail – Home Loans Underwriting practices

Multiple checks during origination process

End-to-end home lending responsibility managed within ANZ

Pre-sales (digital & marketing)

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----- Start of picture text -----

Pre-application Income & Expenses
Application Know Your Customer
Income Verification
Income Models
Serviceability
Expense Models
Interest Rate Buffer
LVR Policy
Collateral /
Valuations LMI policy
Valuations Policy
Credit Credit History
Assessment
Bureau Checks
Documentation
Fulfilment
Security
Quality assurance, info verification & policy reviews
----- End of picture text -----

Proprietary sales and/or verification of 3[rd] parties
In-house loan origination, assessment, fulfilment
Collections activity

Effective hardship & collections processes

Dedicated hardship team
Early warning based on system triggers

Full recourse lending

Multiple actions to manage potential losses

ANZ assessment process across all channels

ANZ network
Mobile
Broker
Digital
Ongoing management of serviceability requirements

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3rd party sales channels (e.g. Broker) require ANZ accreditation & are subject to ongoing compliance monitoring to distribute ANZ home lending products.

Australia

Australian Home Loans Composition and flows

Home Loan lending flows ($b)

Home Loan market share movement

14 5 53 (50) +10% 231 209 Sep 14 New Net OFI Redraw & Repay. Sep 15 Sales excl Refi Interest /Other Refi-in

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APRA Mortgage Market Share
Index Sep 14 = 100
102
101
100
99
98
Sep 14 Dec 14 Mar 15 Jun 15
ANZ Peer 1 Peer 2 Peer 3
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Home Loan portfolio & flow composition

By purpose:

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Portfolio Flow
5% 5% 4%
37% 37% 39%
57% 58% 57%
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Sep 14 Sep 15 FY15
Owner Occ Investor Equity
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By channel: By location [1] :
Portfolio Flow Portfolio Flow
10% 9% 6%
13%
17% 16%
47% 48% 50% 12%
17% 17%
37%
26% 29%
53% 52% 50%
30% 29% 32%
Sep 14 Sep 15 FY15 Sep 14 Sep 15 FY15
Proprietary Broker VIC NSW/ACT QLD WA Other
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Exclusive of non performing loans.

Australia

Stable LMI loss rates below industry average

Background

Australian Home Loan portfolio LMI and Reinsurance Structure at 30 Sep 2015

% 2015 FUM

Financial Year 2015 Results

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Gross Written Premium ($m) $229m
Net Claims Paid ($m) $9.4m
Loss Rate (of Exposure) 5.8 bps
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ANZLMI maintains low loss ratios[1 ]

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150%
100%
50%
0%
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14
-50%
Industry ANZ LMI Insurer 1
Insurer 2 Insurer 3
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LVR ≤ 80%
Not Insured
77%
2015 Reinsurance
Arrangement
LVR 80% to 90% LVR > 90% LMI
11% 12%
LMI Insured Insured
Quota Share [2 ]
Arrangement
(LVR > 90%)
Aggregate Stop Loss [3]
Arrangement on
Net Risk Retained
(LVR > 80%)
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ANZLMI uses a diversified panel of reinsurers (10+) comprising a mix of APRA authorised reinsurers and reinsurers with highly rated security.

Reinsurance is comprised of a Quota Share arrangement[2] with reinsurers for mortgages 90% LVR and above and in addition an Aggregate Stop Loss arrangement[3] for policies over 80% LVR.

Negative Loss ratios are the result of reductions in outstanding claims provisions. Source: APRA general insurance statistics (loss ratio net of reinsurance). 2. Quota Share arrangement - reinsurer assumes an agreed reinsured % whereby reinsurer shares all premiums and losses accordingly with ANZLMI. 3. Aggregate Stop Loss arrangement –reinsurer indemnifies ANZLMI for an aggregate (or cumulative) amount of losses in excess of a specified aggregate amount. When the sum of the losses exceeds the pre-agreed amount, the reinsurer will be liable to

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New Zealand

New Zealand - Home Loan Portfolio[1]

Portfolio Statistics	FY14 FY15	FY14 FY15
Total Number of Home Loan Accounts	488k	502k
Total Home Loans FUM	62b	68b
% of Total New Zealand Geography Lending	59%	59%
% of Total Group Lending	11%	11%
Owner Occupied Loans - % of Portfolio	76%	74%
Investor Loans - % of Portfolio	24%	26%
% of Portfolio Paying Interest Only4	22%	23%

rtfolio1	rtfolio1
Portfolio Statistics FY14 FY15
Average Loan Size at Origination $260k	$306k
Average LVR at Origination2 64%	64%
Average Dynamic LVR of Portfolio3 50%	47%
Broker originated 28%	31%
Low doc (discontinued in 2009) 1%	1%
Group Loss Rates 0.22%	0.20%
Mortgage Loss Rates 0.06%	0.01%

New Zealand Geography.
Average LVR at Origination (not weighted by balance).
Average dynamic LVR as at Aug 2015 (not weighted by balance).
Excludes revolving credit facilities.

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New Zealand

New Zealand - Home Loan Portfolio[1 ] Composition and flows

Flow[2 ]

Portfolio

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12% 11%
35% 41%
53% 48%
FY14 FY15
Branch Broker Mobile mortgage managers
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2% 3%
30% 25% 26% 24%
9% 9%
8% 8%
12% 11%
70% 75%
43% 45%
FY14 FY15 FY14 FY15
Auckland Wellington Christ.
Fixed Variable
Other Nth Is. Other Sth Is. Other³
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Market Share[4]

#1 in Auckland and Christchurch[5 ]

Share of new home loans Share of new home loans registrations in Auckland registrations in Christchurch

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30.6% 30.9% 31.0% 31.6%
registrations in Auckland registrations in Christchurch
8.0% 33%
7.0% 30% 29%
6.1% 6.2% 27% 27%
5.5% 24%
4.4% 4.9% 19% 19%
3.1%
FY12 FY13 FY14 FY15 FY13 FY15 FY13 FY15
ANZ growth System growth ANZ market share ANZ Leading peer bank
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New Zealand Geography. 2. Retail and Small Business Banking mortgage flow. Branch includes Small Business Banking Managers. 3. Other includes loans booked centrally (Business Direct, Contact Centre, Lending Services, Property Finance). 4. Source: RBNZ, share of all banks – FY15 as at August 2015. 5. Source: CoreLogic.

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The material in this presentation is general background information about the Bank’s activities current at the date of the presentation. It is information given in summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate

This presentation may contain forward-looking statements including statements regarding our intent, belief or current expectations with respect to ANZ’s business and operations, market conditions, results of operations and financial condition, capital adequacy, specific provisions and risk management practices. When used in this presentation, the words “estimate”, “project”, “intend”, “anticipate”, “believe”, “expect”, “should” and similar expressions, as they relate to ANZ and its management, are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such statements constitute “forward-looking statements” for the purposes of the United States Private Securities Litigation Reform Act of 1995. ANZ does not undertake any obligation to publicly release the result of any revisions to these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

For further information visit

www.anz.com

or contact

Jill Craig Group General Manager Investor Relations

ph: (613) 8654 7749 fax: (613) 8654 9977 e-mail: [email protected]

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AI assistant

Australia and New Zealand Banking Group Ltd. — Annual Report 2015

10425_rns_2015-11-08_64aac085-5b66-4540-ba5f-0dea039f0899.pdf

FULL YEAR RESULTS 2015 A U S T R A L I A A N D N E W Z E A L A N D B A N K I N G G R O U P L I M I T E D

Index

ANZ offers a distinctive geographic footprint and business mix that provides earnings diversification

Corporate Profile – Latest Full Year position: 2015

Income composition – geography & division

Operating Income by Geography

Operating Income by Geography

Net Profit after Tax by Geography

Operating Income by income type

Balance sheet composition – geography & division

Group balance sheet composition

Institutional Balance sheet profile

Customer Lending[1] (Sep 15)

Enterprise Approach Improving customer experience, productivity and control

Improving customer experience

Driving operational productivity

Reducing operating risk

Utilising our Regional Delivery Network

Regional Delivery Network Improving resilience and productivity, while supporting business growth

Driving sustained productivity benefits

Supporting regional growth

Network Locations

Leveraging time zone advantages

Centralising and scaling core functions to support business growth

Building regional voice capability

Functions Performed

Leveraging skills and talent across the region

Location agnostic processing and resilience

Common Technology Platforms Increasing capability and delivering strategy

FULL YEAR RESULTS 2015

Financial performance

2007 - 2015 Scorecard

Positioned for sustainable future

Financial performance drivers

Income drivers

2H15 NIM

Expense drivers

Divisional drivers

Volume & Margin by Division

ANZ total

New Zealand

Australia Division

IIB

Productivity – Revenue/FTE & CTI

ANZ total

Australia

New Zealand

IIB

Consistent project investment

Strategic initiatives

Efficiency

Remediation & infrastructure

Impaired asset and 90+ day arrears trends

Gross impaired assets

90+ day arrears Australia

New impaired assets

90+ day arrears New Zealand

Impaired Asset trends by division

ANZ total

Australia Division

New Zealand Division

IIB

Provisions

Total Provision charge

Individual Provision charge

$m

Provision charge by Division

ANZ total

New Zealand Division

Australia Division

IIB

Cash Profit by Division

Australia Division

IIB

New Zealand Division

Wealth

RoRWA by Division

Australia and New Zealand Banking Group Ltd. Annual Report 2015