Australia and New Zealand Banking Group Ltd. — Capital/Financing Update 2016

May 26, 2016

News Release

For release: 27 May 2016

ANZ to conduct hybrid capital roadshow

ANZ will be conducting a global roadshow during the week beginning 30[th] May in relation to a potential US dollar denominated hybrid (Additional Tier 1) capital issue to wholesale investors.

Any transaction will be dependent upon market conditions as well as regulatory and other approvals. The terms of any final transaction will be disclosed to the Australian Securities Exchange.

ANZ will also consider an AUD dollar denominated Capital Notes offer to Australian retail investors later in its financial year.

For media enquiries contact:

Stephen Ries, +61 409 655551

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OF AMERICA

This release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or to any U.S. person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act")). Securities may not be offered or sold in the United States or to U.S. persons unless the securities have been registered under the U.S. Securities Act or an exemption from registration is available.

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