Australia and New Zealand Banking Group Ltd. — Capital/Financing Update 2011

Aug 29, 2011

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Media Release

For Release: 30 August 2011

ANZ allocates $1.25 billion to Convertible Preference Share Bookbuild

- Margin set at 3.10%; ANZ Security Holder and General Offer opens tomorrow -

ANZ today announced that following strong investor demand for its offer of convertible preference shares (CPS3), ANZ has agreed to allocate $1.25 billion under the Bookbuild with the Margin for the proposed issue set at 3.10% per annum.

ANZ Chief Financial Officer Peter Marriott said: “We are very pleased with the investor response to this new style hybrid capital offer which has allowed us to substantially increase the size of the issue.”

As previously announced, the CPS3 Offer forms part of ANZ’s ongoing capital management strategy allowing additional flexibility to manage the timing of the redemption of subordinated debt and other Residual Tier-1 Capital instruments into the future and supports ANZ’s consistent focus on the strength of its capital position.

The ANZ Securityholder and General Offer opens tomorrow comprising:

• An ANZ Securityholder Offer, open to holders of Ordinary Shares, convertible preference shares issued by ANZ in September 2008 (CPS1) and convertible preference shares issued by ANZ in December 2009 (CPS2) as shown on the Register at 7:00pm on 3 August 2011 (ANZ Security Holders).

• A General Offer which is open to Australian residents.

A replacement Prospectus will be lodged with the Australian Securities and Investment Commission tomorrow and will include the Margin and the revised amount proposed to be raised by ANZ pursuant to the Offer.

A copy of the Prospectus, including a personalised Application Form for ANZ Security Holders, can be obtained by contacting the ANZ Information Line on 1-800-113399 (Australia) or +61-3-9415 4010 (international).

For media inquiries only contact: For analyst inquiries only contact: Paul Edwards Jill Craig Group GM Corporate Communications Group GM Investor Relations Tel: +61-3-8654 9999 or +61-434-070101 Tel: +61-3-8654 7749 or +61-412-047448 Email: paul.edwards@anz.com Email: jill.craig@anz.com

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE U.S.

This statement does not constitute an offer of any securities for sale. The securities offered will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Australia and New Zealand Banking Group Limited ABN 11 005 357 522