Australia and New Zealand Banking Group Ltd. — Interim / Quarterly Report 2012

Sep 9, 2012

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Investor Discussion acP k
Mike Smith
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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

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Index

	Overview and strategy 3
	Balance Sheet 6 Treasury 10
	Trading Update - Third Quarter 2012 21
	Divisional Performance 24 Australia Division 25 Institutional & International Banking Division 31 New Zealand Division 44
	Risk Management 47

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Investor Discussion acP k
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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

Overview and strategy

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ANZ is structured by Geography & Segment

Geographic Segments

Global Segments

Corporate & Retail Commercial Australia Banking Banking Australia Australia Retail Commercial Global Wealth Global New Zealand Banking & Agri & Private Institutional New Zealand New Zealand Banking Retail Commercial International Banking Asia Banking Asia Pacific Pacific

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4

ANZ continues to organically pursue our Super Regional Strate gy

ANZ Footprint in Asia

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Japan (3)
S. Korea
China (1)
(6)
Taiwan
India (18)
(1) Hong Kong
(5)
Thailand Greater
(Rep Office) Mekong (30) Philippines
(1)
Malaysia (Rep
Office)
Singapore (5)
Indonesia
(28)
() - # branches/rep offices
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Rationale behind the Super Regional Strategy

1. Strategy aligned to Asia/Pacific region growth

2. Strong domestic franchises and established market positions in Australia and New Zealand

3. Focusing on higher growth Asian markets

4. Leveraging regional trade and capital flows

5. Building customer connectivity

6. Aust/NZ flows to and from Asia – 8 of top 10 Australian ex p ort markets are in Asia

7. Network presence is facilitating growth in intraAsia customer trade flows

8. Differentiated growth opportunities in Aust / NZ

9. 3 . Strengthens balance sheet and earnings diversity

10. Diversity of Group funding

11. Self funded balance sheet in APEA

Highly diversified geographical footprint across 16 Asian markets with 98 branches and 5 Partnerships

• Strong capital and liquidity positions

• Improves diversification of earnings by geography, client and product

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Investor Discussion acP k
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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

Balance Sheet

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Balance Sheet - Composition by Geography

Net Loans & Advances (incl. Acceptances)

Customer Deposits

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Australia APEA APEA Commercial
APEA
Institutional Retail & Wealth & Institutional
Retail & Wealth
14% 2% APEA Commercial 5% 18%
& Institutional
Australia 8%
Commercial Australia
12% Institutional 18% APEA
APEA New Zealand
7%
10% Retail & Wealth 23% New Zealand
Australia New New 8% Retail & Wealth
Other Retail 3%
Zealand Zealand
Australia72% 18% 10% New ZealandCommercial Australia 16% 5% New ZealandCommercial
1% New Zealand CommercialAustralia 13% 61% 3% New Zealand
Institutional Institutional
43% 30%
Australia
Retail Mortgages Australia Retail
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1. As at 31 March 2012

7

Balance Sheet - Composition by Segment

Net Loans & Advances (incl. Acceptances)

Customer Deposits

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New Zealand Australia
Australia Commercial Institutional
Commercial New Zealand
Commercial 18%
10%
12% 5%
New Zealand
Retail & Wealth 7% Commercial 14% InstitutionalAustralia Australia 13%
APEA 22% Commercial 18% Institutional
Retail & Wealth 2% Commercial 38% 18% Institutional APEA
Institutional
23% APEA
8% New Zealand 8%
Institutional
Retail & Wealth Retail & Wealth Retail & Wealth
3%
55% 1% New Zealand 44% New Zealand Institutional
5%
Institutional
APEA
Retail & Wealth
47% 30%
Australia
Australia
Retail & Wealth
Retail & Wealth
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1. As at 31 March 2012

8

Balance Sheet – Customer Lending & Deposits

			Customer Deposits Net Loans & Advances (incl. Acceptances) Loan / Deposit Ratio $b	Customer Deposits Net Loans & Advances (incl. Acceptances) Loan / Deposit Ratio $b	Customer Deposits Net Loans & Advances (incl. Acceptances) Loan / Deposit Ratio $b	Customer Deposits Net Loans & Advances (incl. Acceptances) Loan / Deposit Ratio $b	Customer Deposits Net Loans & Advances (incl. Acceptances) Loan / Deposit Ratio $b	Customer Deposits Net Loans & Advances (incl. Acceptances) Loan / Deposit Ratio $b	Customer Deposits Net Loans & Advances (incl. Acceptances) Loan / Deposit Ratio $b
	$b
	350 400 450				167% 350 400 450			134% 140% 160% 180%
							167%	134%
	250 300					250 300			100% 120%
	100 150 200					100 150 200			40% 60% 80%
	0 50
			Australia APEA New Zealand Group LTD Ratio (RHS)

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Investor Discussion acP k
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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

Treasury

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Continued strengthening of capital levels places ANZ in a strong position for upcoming Basel III implementation

Well placed to meet Basel III CET1 target under APRA’s draft capital standards

Current capital levels are strong (Mar-12)

Basel III (APRA) Basel III Full Alignment Basel III minimum capital requirements

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Common Equity Tier 1 Ratio (CET1)
Basel III Full Alignment
Tier 1 Ratio Basel III minimum capital requirements
Total Capital Ratio
15.3%
14.0% 14.3%
12.6%
11.8% 11.8%
11.3%
Capital
9.7% 9.8% 2.5% Conservation
Buffer
7.8% 7.8%
11.7% 7.3% 7.5%
9.8%
8.9%
7.8% CET1
4 . 5%
Minimum
Basel II Basel III Basel III UK FSA Mar 11 Sep 11 Mar 12 Jun 12 Jun 12 Jan 16
APRA Full
Alignment
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Solid organic capital generation underpins strong CET1 osition p

Capital Position (Common Equity Tier 1 Ratio)

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1.06%
8.92%
8.49% 8.52% (0.37%)
(0.27%) (0.02%)
Portfolio Growth/Mix (26bp) +8.2b
Risk Migration 5bp -2.2b
Portfolio Review 5bp -1.5b
Non-credit RWA (11bp) +3.5b
Net organic up 40bps
Mar-11 Sep-11 NPAT Dividend/DRP RWA movement Other Mar-12 Basel II
(1) (2) (3) (4)
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1. Underlying NPAT. 2. Includes prior period under-accrual of DRP. 3. Includes impact of movement in Expected Loss versus Eligible Provision shortfall. 4. Includes OnePath Insurance Business’ capital retention, Asian Banking Associates’ retained earnings, Non-Core NPAT items, Capitalised Costs and Software, FX, Net Deferred Tax Assets, Pensions, MTM gains on own name included in profit

12

Tier 1 position strengthened through organic capital eneration g

Capital Position (Tier 1 Ratio)

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1.06%
11 . 27%
10.94% (0.37%)
10.51% (0.34%) (0.02%)
Portfolio Growth/Mix (33bp ) +8.2b
Risk Migration 7bp -2.2b
P or tf o li o ev ew R i 6b p - 1 . 5b
Non-credit RWA (14bp) +3.5b
Net organic up 33bps
Mar-11 Sep-11 NPAT Dividend/DRP RWA movement Other Mar-12 Basel II
(1) (2) (3) (4)
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1. Underlying NPAT. 2. Includes prior period under-accrual of DRP. 3. Includes impact of movement in Expected Loss versus Eligible Provision shortfall. 4. Includes OnePath Insurance Business’ capital retention, Asian Banking Associates’ retained earnings, NonCore NPAT items, Capitalised Costs and Software, FX, Net Deferred Tax Assets, Pensions, MTM gains on own name included in profit

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Reconciliation of ANZ’s capital position under Basel III

ANZ capital ratios : Basel II to Basel III

	CET1	Tier-1	Total Capital
APRA Mar-12 Basel II	8.9%	11.3%	12.6%
Dividend not provided for (net of DRP)	0.4%	0.4%	0.4%
Investments in ADI and overseas equivalents	-0.4%	-0.4%	0.0%
Investments in ANZ insurance subs including OnePath	-0.4%	-0.4%	0.0%
Expected losses in excess of eligible provisions	-0.1%	-0.1%	0.1%
Other	-0.1%	-0.3%	-0.2%
10%reductionofexistinghybrids and sub debt securities	0.0%	-0.2%	-0.4%
Estimated increase in RWA1	-0.5%	-0.6%	-0.7%
APRA Mar-12 Basel III proposed	7.8%	9.7%	11.8%
10% allowance for investments in insurance subs and ADIs	0.8%	0.7%	0.7%
up to 5% allowance for deferred tax asset	0.2%	0.2%	0.2%
other capital items	0.2%	0.3%	0.2%
Mortgage 20% LGD floor and other measures	0.5%	0.6%	0.7%
IRRBB RWA (APRA Pillar 1 approach)	0.3%	0.3%	0.4%
Mar-12 Basel III fully aligned	9 8% .	11 8% .	14 0% .

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1. Includes credit counterparty but excludes any Basel III liquidity changes.

14

ANZ has a well diversified funding profile with an increasin wei htin to customer fundin g g g g

	ANZ has a well diversified funding profile with an increasing weighting to customer funding
	Strong Funding Composition Short Term Wholesale Funding Customer Funding Offshore short-term Commercial Paper makes up just 3% of total Group funding
	Term Debt < 1 year Residual Maturity Term Debt > 1 year Residual Maturity Shareholders equity & Hybrid debt Equity/ Hybrids 8% 3% 2% 3% Gross Interbank, Other APEA CDs Offshore short-term CilP 14%
	ommerca aper Well diversified term wholesale funding portfolio 6% Domestic CDs 15% 16% 12% 13% 7% 5% 6% 6% 4% 22% 17% 12% 12% 14%
	3% 1% 3% Offshore Private Placements Japan (¥) 55% 58% 61% 60% 14%
	50% 6% 4% UK & Europe (€,£,CHF) North America (USD, CAD) 17% 7% 8% 8% 9% 9%
	Domestic (AUD NZD) , Sep 08 Sep 09 Sep 10 Sep 11 Mar 12

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FY12 debt issuance completed, now considering prefunding opportunities for FY13; portfolio costs remain elevated

ANZ term wholesale debt portfolio

Portfolio term funding costs remain elevated

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A$b
3 m BBSW
30
Issuance Maturities
180bp
25 160bp
Indicative annual
issuance volumes 140b p
20
120bp Forecast Portfolio funding
costs based on current [1]
market levels
100bp
15
80b p
10
60bp
40bp
5
20b p
0 0bp
Senior Debt Government Guarantee
1. As at 31 August 2012
Covered Bonds Sub Debt
Note: A$1.9bn of remaining FY12 maturities not shown
16
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18+ Sep-05 Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16
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Lower structural funding gap - a growing competitive advantage

		ANZ	ANZ	Peer 1	Peer 2	Peer 3
	Loan – Deposit Ratio (%)	134		158	152	141
	Loan – Deposit Gap ($bn)	104		186	165	153
	Australian Household Funding Gap ($bn)	111		193	125	179
	S S S$ hort Term U Money Market Funding (U bn)	18		50	36	34
	• Lower and more stable wholesale funding requirement relative to peers • Lower reliance on offshore wholesale markets 150 200
	• Better positioned to take advantage of any uptick in credit growth • Mitigates Rating Agency pressures and improves capacity to manage through 50 100
	i d f k t di l ti 17 17 per o s o mar e s oca on Source: APRA and latest bank published financial statements at HY12. 2007 2008 2009 2010 2011 2012 ANZ Peer 1 Peer 2 Peer 3

ANZ’s term funding portfolio is increasingly diversified with a declinin reliance on offshore fundin g g

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Term Debt Issuance Term Debt Outstandings
Weighted avg. Weighted avg.
tenor : yrs4 tenor : yrs5
10% 12% 13% 13% 14%
33%
18%
20%
34% 29% 25%
68%
23%
36% 32%
31% 35%
28%
44%
32% 33% 34%
2 8% 2 8% 27%
FY08 1H12
Sep 08 Sep 09 Sep 10 Sep 11 Mar 12
AUD/NZD
D o m es ti c N o rth Am e ri ca E u r ope A s i a
F ore gn urrency - i C S en or nsecure i U d
Foreign Currency - Covered Bonds
18
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Liquid assets of $99b exceed total offshore wholesale debt of $85b

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Strong liquidity position ($b)
ANZ Total
Offshore
Wholesale Debt
securities
27.2
19.9
22.5
8.1
10.2
3.3 60.2 66.7 71.4 71.3 62.7
34.7
Sep 08 Sep 09 Sep 10 Sep 11 Mar 12 Mar 12
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Prime Liquidity Portfolio Other Eligible & Highly Liquid Securities Long-term Short-term

Composition of liquid assets ($98.5b)

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Class 2
$10.2b
Bank or corporate
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paper or
better
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Class 3 Other Liquids $27.2b $28.6b Other Eligible and Internal RMBS Highly Liquid Securities

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19

Strong domestic funding markets and the introduction of covered bonds significantly reduces ANZ’s need to issue senior unsecured benchmarks in offshore markets

• ANZ's lower and more stable wholesale funding requirement relative to peers is a distinct advantage

• Domestic AUD/NZD funding markets will remain our largest source of wholesale funding

• Annual term funding task expected to remain broadly consistent in $20-25 billion range - largely rolling existing maturities

• Additional flexibility provided via establishment of covered bonds program and US 3a2 program

• Expect to execute 1-2 benchmark transactions annually in each of our core foreign currencies (USD, EUR, JPY)

• FY12 term wholesale funding task completed, now considering pre-funding opportunities for FY13

ANZ Term Debt Issuance for year to 31-Mar-12

Indicative Profile

	ANZ Te	rm D	ebt Is	suanc	e for y	ear to	31-M	ar-12		Indicative Profile
		Jun	Sep	Dec	Mar	Senior	CB	Sub	Total	10% Senior (2-5 yrs)
	Domestic B'mrk	2.2	0	1.0	4.6	3.3	3.0	1.5	7.8
	'
	USD Bmrk	0	0	1 2 .	0 0 .	0	1 2 .	0	1 2 .	Covered (3-10 yrs) Sub (5-10yrs) 60% 30%
	EUR B'mrk	0	0	0.7	1.6	0	2.2	0	2.2
	JPY B'mrk	0	0	0	1.1	1.1	0	0	1.1
	Other incl. private placements	0.7	1.1	1.5	3.7	4.9	1.5	0.5	6.9
	Total	2.9	1.1	4.4	10.9	9.3	8.0	2.0	19.2

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Investor Discussion acP k
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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

Trading Update - Third Quarter 2012

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ANZ released Q3 trading update on 17[th] August

Highlights

• YTD (9 months to end June) Underlying profit after tax[1] up 5 . 5% PCP

• YTD total Global Markets income up 2% to $1.4b[3 ] with market sales well up

• Group margins (ex Global Markets) stable[4]

• Provision coverage[2] at June 12 strong at 1.87%; collective provision coverage ratio 1.18%

• Year-to-date customer deposits have increased

• 8.7% with lending assets up 7.7% (FX adjusted)

• ANZ’s APRA Basel III CET1 ratio at 30 June was

• 7.8% which equates to 9.8% on a fully harmonised basis

• FY12 term funding task was completed ahead of schedule

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Underlying Profit
$m
5,652
5,025
~ 4,500
3,772
2,818 2,973
2,298
1,908
2009 2010 2011 2012
HY FY FYTD Jun 2012
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Common Equity Tier 1 Ratio
(Jun 2012)
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1. Underlying profit after tax is adjusted to reflect result for the ongoing business activities of the group

2. Total Provision coverage – CP balance plus IP balance as a proportion of Credit RWA’s

3. FX adjusted

4. Comparison to 270 bps end of second quarter FY12

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22

Key points ANZ Trading Update released 17[th] August coverin 9 months to 30 June 2012 g

ANZ has continued to execute against its super regional strategy with a solid business performance despite headwinds from softer economic conditions.

In Australia , market share gains were achieved across household deposits, household lending and commercial. Divisional margins were up slightly despite the deposit pricing pressure. Credit quality remains sound with a reduction in 90 day mortgage arrears from the end of the half.

In International & Institutional Banking (I&IB) Division , the global institutional business is expec t e d t o e d li ver s t rong revenue grow th Y o Y d esp it e ongo ng marg n pressure n i i i th e oan oo l b k* ; customer deposits have fully funded the year to date division loan growth; the tenor of the deposit portfolio has lengthened (specifically in Australia and Asia/Pacific).

In NZ , the business’ focus on simplification has positively impacted staff engagement, customer satisfaction and cost to income levels; y ear to date net loans and advances are u p 1.4% with de p** osits up 6.9% and market share in retail has grown.

Asset quality generally in line with expectations :

• Total impaired assets were down $117m in Q3 from Q2, new impaired assets also down QoQ

• Australian mortgage delinquencies continue to be tightly managed (reduction in 90 day mortgage arrears from the end of the half)

• Provision coverage remains strong (total provisions to Credit RWA’s : 1.87%)

• CRWA growth largely volume related

• IIB commentary is made on an FX adjusted basis

** Comparisons are NZ based

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23

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Investor Discussion acP k
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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

Divisional Performance

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Investor Discussion acP k
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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

Australia Division

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Australia Division – Consistent customer focus and wellestablished market ositionin p g

1. Driving customer growth and improving productivity and efficiency

• Delivering on the transformation agenda for the distribution network, reducing network costs and aligning capability and capacity with customer demand

• Delivered improved mortgages sales capabilities and simplified processes to drive proprietary growth

• Provided expanded ability for customers to address simple service requests online

• Introduced ANZ OneSwitch to on-board Commercial customers quickly and easily.

2. Delivered customer propositions targeted at key segments aligned to Super Regional Strategy

• Expanded multi-lingual capabilities across a range of products and services, including Wealth products

• Launched pre-arrival concierge service for customers migrating to Australia, onboarded ~1,500 customers since October 2011

• Mortgage products targeted to new residents as well as nonresident customers

• Acquired new-to-bank Commercial customers by accessing distribution networks of Retail, OnePath and Esanda and leveraging ANZ Super Regional capabilities.

• New retirement savings products for 50+ customers.

3. Successful implementation of technology and innovation initiatives

• Enhanced functionality of goMoney for iPhone and iPad (registered users to date surpassing 700k)

• Launched goMoney for Android devices in September 2012

• Launch of Smart Choice Super online

• Improved user experience online , including enhanced security online statement access

• Expanded scope and functionality of integrated mortgage origination platform

• Pilot utilisation of iPads by frontline bankers, A-Z Review application.

Underlying PBP

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$m
2 , 500 2 , 338 2,387 2 , 258 2 , 258
255 Wealth
2,000
1,500 867 Commercial
1,000
500 1 , 137 Retail
0
1H11 2H11 1H12 1H12 by
business
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Lending & deposit growth (HOH)

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6%
5%
5%
5%
4%
3%
3%
3%
2%
1%
0%
Retail Retail Commercial Commercial
lending deposits lending deposits
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26

Australia

Australia Division – Deposit Base Composition

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Customer deposit composition Retail deposit composition
100%
13% 13% 13%
100% 80% 10% 10% 9%
9% 9% 10%
60% 26% 29% 30%
13% 13% 12% 40% reliance on Decreased
80% 51% 49% 48% term
20% deposits
0%
60% 30% 33% 36% Mar 11 Sep 11 Mar 12
Commercial deposit composition
40% 100% 1% 1% 1%
21% 20% 19%
80%
47% 45% 43% 60% 39% 42% 44%
20%
40% Decreased
reliance on
term
20% 39% 37% 36% deposits
0% 0%
Mar 11 Sep 11 Mar 12 Mar 11 Sep 11 Mar 12
Term Deposits Savings Transaction Offset Account
27
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Australia

Retail – Strengthening the franchise

Movement	1H12 v 2H11	1H12 v 1H11
Income	-4%	-1%
Expenses	2%	4%
Profit Before Provisions	-8%	-6%
Net loans & advances incl. acceptances	5%	8%
Customer deposits	5%	11%

Clearly defined strategic priorities to drive growth

• Deepening customer relationships and growing share of wallet amongst high value customers

• Decreasing the cost of doing business

• Strong growth in mortgages and deposits

• Improving funding position through management of deposit mix and less reliance on term deposits

• Leveraging our super regional strength, locally

Outcome

• Achieved #2 in market share by brand[1]

• Strongest growth in customer share of wallet[1]

• Peer leading MFI customer satisfaction

• Implemented productivity initiatives, including further automation, enhanced functionality of goMoney (over 600k users[3] ) and expense reduction intiatives

• Strong deposit growth - up 5% HOH and 11% PCP

• Mortgages FUM up 5% HOH and 8% PCP.

• Source: Roy Morgan Research

• Source: APRA Statistics

• As at April 2012

ANZ Market Share[1]

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Traditional banking market share
2 50
2 0
15
10
Sep 09 Mar 10 Sep 10 Mar 11 Sep 11 Feb 12
Household Deposit Growth [2]
Index Sep 09 = 100
135
115
100
95
Sep 09 Mar 10 Sep 10 Mar 11 Sep 11 Mar 12
Household Lending Growth [2]
Index Sep 09 = 100
140
130
120
110
100
Sep 09p 09 09 Mar 10 Sep 10p 10 10 Mar 11 Sep 11p 11 11 Mar 12
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Index Sep 09 = 100
140
130
120
110
100
Sep 09p 09 09 Mar 10 Sep 10p 10 10 Mar 11 Sep 11p 11 11 Mar 12
Peer 1 Peer 2 Peer 3
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28

Australia

Retail - Mortgage pricing

Criteria used to assess Interest

Rates

Change in cost of funds over the RBA Cash Rate since the Global Financial Crisis

ANZ’s average cost for erm wt holesale unf ding eb tween 1 October 2011 to 31 March 2012 increased by 15 bps from 116 basis points above the three month bank bill swap rate to 131 bps[[1]]

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31 March 2012 increased by 15 bps from 116 basis points above the three
month bank bill swap rate to 131 bps [[1]]
Cost of
wholesale
Mvmt in funding costs vs. Cash
funding
Rate relative to pre-crisis levels [2]
1. 60%
1.40%
Returns for Competitive Short Term
depositors position
1.20%
Interest
rate
1.00% Long Term
decision
Weighted
0.80% Recovery contribution
above
of funding
0.60% RBA cash sources
rate
Impact of Deposits
Regulatory economic 0.40%
requirements conditions on
customers
0 . 20%
0.00%
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1. ANZ, 23 April 2012, ‘Integrity and transparency on bank funding costs’. Represents Australian geography portfolio. 2. Pre-crisis levels represents the average change in cost of funding relative to the cash rate over the 12 month period ending September 2007

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29

Australia

Commercial overview

Strategic focus

• Continued drive for customer growth through leveraging:

• Super Regional capabilities and footprint

• Strengths in Markets, Trade Finance and Cash Management and Agriculture, Natural Resources & Infrastructure sector expertise

• Retail, OnePath and Esanda’s distribution network

• Continued improvement in efficiency and productivity through centralising and standardising administration functions and enhanced use of offshore Centres of Excellence.

Outcome

• Increased market share (up 110 bps since Jun 11, up 70 bps YTD Mar 12)[1] through growth in the share and size of customers and enhanced share of wallet

• Number of customers up 3% (Feb 12 YTD) across all segments – Small Business (‘SME’), Regional Commercial and Business Banking

• Lending up 3% HOH reflecting investment in training and productivity initiatives

• Deposit growth of 3% HOH.

• DBM Business Financial Services Monitor. 12-month rolling average Commercial includes most small and medium sized businesses Base: Jun11 n=17,305; Sep11 n=17,296 and Mar12 n=17,128

Net loans & advances (incl. acceptances) by business

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Business Banking
33%
Regional Commercial
Banking
30%
Small Business
Banking
28%
9% Esanda
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----- Start of picture text -----

Net loans and advances (incl.
acceptances) & Customer eposd its
$ %
49.3
50 45.7 46.2 47.8 140
40.8
39.7
40 37.2
33.7
130
30
20
120
10
0 110
Sep 10 Mar 11 Sep 11 Mar 12
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Net loans and advances incl. acceptances (LHS) Customer deposits (LHS) Loan to deposit ratio (RHS)

30

Australia

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Investor Discussion acP k
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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

International & Institutional Banking Division

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Our Super Regional strategy is delivering strong results, with Asia Pacific and flow products the growth drivers

APEA & Institutional Financial Metrics

% CAGR % Contribution to Group

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

USDm AUDm
+38% +15%
2,570
Revenue 4,819 [4,862 4,906 ]
1,870 [2,091 ]
2,800 [3,624 ]
1,295 [1,442 ] 2,390 [2,769 ]
716 [1,184 ]
8% 20% [(2)] 25% 32%
2007 2008 2009 2010 2011 2H11 1H12 2007 2008 2009 2010 2011 2H11 1H12
USDm +31% AUDm +12%
739
617
NPAT 393 543 358 432 1 , 214 1,430 [1,778 1,895 ] 915 1 , 123
253 771
8% 14% 31% 38%
2007 2008 2009 2010 2011 2H11 1H12 2007 2008 2009 2010 2011 2H11 1H12
USDb AUDb
+48% 74 +20% 120
Customer 63 118
98
45
Deposits 27 56 65 77
18
13
8% 23% 31% 39%
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Sep 07 Sep 08 Sep 09 Sep 10 Sep 11 Mar 12

Sep 07 Sep 08 Sep 09 Sep 10 Sep 11 Mar 12

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1. Includes Asia Partnerships

2. Includes Europe and America results not included in originally reported figures

3. Series impacted by changes in capital allocation methodologies; numbers have been pro forma adjusted for RBS acquisition and the inclusion of Business Banking in Institutional for 2007

International & Institutional Banking

32

Roadmap to build a leading Super Regional bank across - Asia Pacific

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

2008 2009 2010 2011 2012+
2008 2009 2010 2011 2012
Develop strategy and Continue organic Extend and deepen
build business model growth with bolt-ons franchise
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�Build substantive Institutional	�Organic growth anchored by	�Establish Hong Kong and
business	Institutional	Singapore as significant centres
�Build Singapore and Hong Kong hubs	�Rapid build out of Retail and Private Bank	with broad capabilities �Commence India operations
�Build South East Asia business	�Complete RBS acquisition	�Launch offshore RMB services
�Created business model for Retail and Private Bank –	and integration �Continue to focus on liability	½Deepening industry specialisation in Natural
scaled up with RBS	growth	Resources, Agriculture and
�Build risk and governance	½ Deepen influence in five key	Infrastructure
model	partnerships	½Delivering client connectivity
�Obtained licences	½Continue to build out technology and operational	capabilities with cash platform build, expanded markets and FI sales distribution
	platforms

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33

APEA

Revenue growth is driven by focus on our priority eo ra hies customer se ments and roducts g g p , g p

		Geographies	Geographies	Geographies	Geographies	Customer Segments	Customer Segments	Customer Segments	Products Institutional & Commercial • Cash • Foreign	Products Institutional & Commercial • Cash • Foreign	Products Institutional & Commercial • Cash • Foreign
	rities	Franchise Markets				Institutional			Institutional & Commercial
		• Greater China • Indonesia				• Natural Resources • Financial			• Cash • Foreign
	Strategic Prio	• Singapore • Greater Mekong • India • The Pacific				• Agriculture • Infrastructure Institutions • Multinationals			Management • Trade Exchange • Global Capital Markets
		Network Markets				Commercial
		• Europe • America	• Japan • Korea			Retail, Wealth & Private Bank			Retail & Private Bank
						• Affluent & Emerging Affluent			• Investments &	Insurance
						• High Net Worth			• Deposits
	Growth	Greater China India		16% 27% 24% 71%		Commercial NtlR 1H12 v 2H11	35% 31% 59% 1H12 v 1H11		Trade Foreign Exchange Sales	37% 20% 63% 47%
	Revenue	Indonesia Greater Mekong Singapore		7% 19% 28% 17% 13%		aura esources Financial Institutions Agriculture Affluent & Emerging	25% 24% 5% 51% 43% 41%		Cash Management Retail Deposits Investments &Insurance	14% 12% 6% 44% 16% 14%
				5%		Affl t uen	3%
	ievements	• Singapore, Hong Kong, Indonesia, PNG and Europe and America all delivered >$100 million total effort revenue1 • Continued strong performance in GreaterMekon				• Commercial growth focused on four priority countries • Continued strong growth in priority Institutional segments based on deepening customerinsihts
	h Ac	g				g			• Continued growth in retail deposit base

1. Total effort revenue includes revenue ‘thrown’ into other geographies

34

APEA

We are winning greater value added and substantial flow rt ansactions

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Industrial
Newcastle Coal New Royal Adelaide Development Bank PT. Sarana Multi
Infrastructure Group Hospital Woolworths of India Infrastruktur Persero Caterpillar
AUD200m USD 150m
AUD2.8bn AUD500m USD12.5m
Infrastructure Asia Pacific PPP Local Currency USD175M USD/IDR Cross Sole Issuing Bank
Group II Project Finance deal deal Bond issuance Syndicated Loan Currency Swap deal Global LC Businessfor Bucyrus Int’l’s
2011 2011 2011 2012 2012 2011
Bank of America
Santos Shinhan Bank Sinopec Group Lloyds TSB Ascentek
USD50m
USD1.2bn CNH625m USD5bn
ANZ mandated as AUD1.8bn Taiwan Receivables
LNG Export Finance deal Dimsum Bond and CNH/USD Swap Syndicated Loan deal Agency Clearer Bond issuance Finance deal
2011 2012 2011 2011 2011 2011
Indian Railway International
Tata Qatar Petroleum Finance Corporation Finance Corporation Volkswagen Bunge China
GBP25m Cross- USD7.2bn USD200m AUD1.5bn Offshore CNH hedging Soybean hedging for US
Complex Structured border CNH Loan deal Barzan Gas Project Finance deal Syndication Loan deal & Agency Bond dealnational, Sovereign Kangaroo Supra- ANZ’s RMB roadshow in London following across Europe entities executed in and Chinese based London
2012 2011 2011 2011 2012 2012
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35

International & Institutional Banking

In addition, we are continuing to optimise our footprint in order to fund growth investments

• Sold Wing, our Cambodia mobile payments platform, to focus on our ANZ Royal joint venture in the country

• Sold our stake in Vietnam’s

• Sacombank , to focus on our own business in the country

• Rationalising our branch network in Taiwan to best serve affluent and emerging affluent customers

• Rationalising our branch network in the Pacific (Solomon Islands, Samoa, Tonga & Vanuatu)

• Rationalised Regional offices in Hong Kong & Singapore and premises in Taiwan and Indonesia

Additional investment 1H12[1]

USD54m

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4%
14%
6%
76%
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Branding

• L au n c h ed g l oba l b r a n d ca m pa i g n in Asia

Capabilities

• Build out of Commercial footprint

• New Mongkok branch in Hong Kong

• New Singapore and Hong Kong head offices

Compliance

• Anti-Money Laundering Program

• • Risk and Security Program

Systems

• ANZ T ransact ve s a i A i

• • Asian Core Engine

• Global Markets platform

• Global Cards Platform

• Singapore Data Centre

• Incremental 1H12 v 2H11 investment spend, inclusive of capitalised project expenditure associated with ANZ Transactive Asia and Asian Core Engine

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1H12
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36

APEA

Connectivity is a key differentiator for ANZ, driving - cross border revenue rowth across the network g

Intra APEA connectivity becoming increasingly important

• ANZ’ s APEA b us ness ntra reg on cross- i i i b or d er revenues have achieved CAGR of 46% from 1H10 to 1H12 (Up 15% HOH / 43% PCP)

• Trade transaction volume increased 34% PCP

• Offshore customers represent 33% of our Retail Banking customer base in Singapore and Hong Kong

• 532 Asian Institutional clients have an active relationship with ANZ in 3 or more jurisdictions

APEA Cross-Border Income (USDm)

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22% CAGR
493
461
401
115 Intra-APEA
100
331
80
53
361 378 Australia/NZ
321
278
1H10 1H11 2H11 1H12
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• Continue to develop connectivity in key markets of Singapore, Hong Kong, India, China and Indonesia

Institutional

• Ramping up Europe & America ‘throw’ into Asian network off strong base of ‘throw’ into Australia and New Zealand

• Focus on simplifying on - boarding processes across borders to ensure seamless customer interactions across the network

Retail & Wealth

• Initiatives implemented to capture Retail connectivity in the region have resulted in a 5 fold increase in cross-border referrals HoH

Partnerships

• Partners leverage ANZ’s core capabilities in Australia and other markets for customer referrals and connectivity

• e.g. SRCB and AMMB customers moving to Australia can open ANZ Australia accounts prior to arriving in Australia

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37

APEA

APEA continues to grow its deposit base, with strong credit quality n i the loan book

• Significant volume growth

• Retail Asia deposits up 20% HOH

APEA Institutional Risk Grade profile by Exposure at Default

• 31% of APEA lending book represents funded trade lines. These have an average tenor of 3 months

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• Self funding, Loan to Deposit ratio of 58%
Customer Deposits Net Loans & Advances
USDb (incl. acceptances)
80
41% CAGR 74
70 71%
63 75% 76%
60 AAA-BBB
55
50 50% CAGR BBB -
42
37 38 BB+~BB-
40
32
BB-
30
>BB-
18 16%
20
16%
15%
10
9%
6% 6%
2%2% 2%1% 2% 1%
0
Mar 10 Mar 11 Sep 11 Mar 12 Mar 10 Mar 11 Sep 11 Mar 12 Mar 11 Sep 11 Mar 12
Retail Deposits Retail Lending
Transaction Banking Deposits Funded Trade Lines
Other Institutional Deposits Other Institutional Lending
38
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APEA

We have delivered strong financial performance against new and established com etitors as we have built scale p

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Revenue CAGR
Established players in
2007-2011, % New Regional Players
Asia Pacific
Avera g e
CAGR %
33%
7% ~5%
ANZ [(1)] CIMB [(2)] BEA [(2)] OCBC [(2)] DBS [(2)] UOB [(2)] SCB [(3)] Citi [(4)] HSBC [(5)]
Average
Loans
Total Asia Pacific Loans 241 US$b
2011, USD billion
96
36
N/A
ANZ [(1)] CIMB [(2)] BEA [(2)] OCBC [(2)] DBS [(2)] UOB [(2)] SCB [(3)] Citi [(4)] HSBC [(5)]
Average
Total Asia Pacific Deposits Deposits
2011, USD billion US$b
371
110
53
N/A
ANZ [(1)] CIMB [(2)] BEA [(2)] OCBC [(2)] DBS [(2)] UOB [(2)] SCB [(3)] Citi [(4)] HSBC [(5)]
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Source: Bloomberg standardised income statements

Notes:

• 1) ANZ - North Asia, SSEA, and Pacific businesses only, excludes Australia, New Zealand, Europe and America; Profit-after Tax

• 2) Figures for all regions

• 3) SCB - Hong Kong, Singapore, Korea, Malaysia, India, Other Asia Pacific

• 4) Citi - Asia Citicorp as result of restructuring in 2009; Geographical Pre-tax Income not reported, Net Income as proxy

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5) HSBC - Hong Kong, Rest of Asia Pacific 39

APEA

Retail – our strategy is to achieve core bank status with the Affluent and Emerging Affluent segments in key franchise markets

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Targeted segments account for a significant portion
Key Drivers
of the revenue & liquidity pools in key markets
Customer yramP id Asia etaR il Revenue and
Deposit Pools [1]
Customer’s banking
wallet
AUM Requirement USD338b USD11,204b
(developed mkt)
13%
24%
State of Market HNW USD3m+
Development
USD100k-3m
Retail Affluent 61%
42%
Asia
Pacific
Cost to Serve Model Emerging USD25k-100k
Affluent
34%
Mass
26%
Value Proposition
Risk Deposit Pool
Adjusted
Revenues
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1.ANZ markets

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Source: Countries’ statistical data and census, BCG, CIA Factbook, Datamonitor, Euro Monitor, IMF data, McKinsey Global Banking Revenue Pool, Nielsen Surveys, Nomura Research, Press search and ANZ analysis 40

APEA

Commercial – our goal is to be a core bank to our target clients by providing seamless connectivity

The right risk and service framework

• Implement a risk framework appropriate to C o mmerci a l B a nkin g

• Operate a low cost to serve model

Target cross border clients

• Clients with cross border requirements

• Clients with supply chain linkages to multinationals

Leverage existing network and expertise

• Further develop competitive advantage through regional connectivity capabilities

Asia Revenue Breakdown

2012 forecast

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

Lending
11%
Local
State-
Owned ICBC, BOC,
and SBI, ICICI, 56% 27%
Local OCBC, Cash
Private Chinatrust
Banks
Markets,
32% Cash &
Global Trade Trade 89%
of
Bank
Revenue
HSBC, Citi,
SCB, DBS 34%
ANZ
Emerging 30%
Regional Markets
Banks 3%
7%
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• Levera g e Institutional and Retail ca p abilities

Competitors Commercial ANZ Banking C ommerc a i l Revenue Pool

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41

APEA

Institutional - building momentum in line with strategy

Revenue mix by product Revenue mix by customer segment

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FY09 1H12 FY09 12 months rolling to Mar 12
Transaction Global T ransac ti on Other Other
Banking Loans Banking Global
Loans 38% 36%
15% 27% 24% U&I U&I
27% 7% 6%
25% 33% 20% 29% 19% FIG 2 3%
29% 28%
Market NRG NRG
Sales Market Market 7% 7% FIG
Trading Market Trading
Sales Agri Agri
Revenue by geography Income composition
FY09 1H12
E&A, Korea,
E&A, Korea, Japan Impact of Other
Japan 28% financial 53% 46% 50% 48% Operating
41% crisis Income
Pacific Pacific
SEA
10% 11%
Net
7% Greater 24% 7% Greater Interest
Mekong Mekong
47% 54% 50% 52% Income
13%
26% Greater 4% 26%
2% China
SEA India, Greater
India, Middle East China
Middle East FY09 FY10 FY11 1H12
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U&I = Utilities & Infrastructure; NRG = Natural Resources Group; FIG = Financial Institutions Group; Agri = Agribusiness SEA = Indonesia, Singapore, Philippines, Malaysia, Thailand Greater Mekong = Vietnam and Cambodia Greater China = China, Hong Kong, Taiwan

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42

International & Institutional Banking

Global Capital Markets – continue to build distribution ca abilities and stren then market osition p g p

Extended leading position in domestic bond markets

Corporate and frequent issuer bonds league table rankings

• No. 1 bond issuer in Australia with 21.7% market share and led on 41% of trades 1Q12

• No. 1 bond issuer in New Zealand with 48% market share and led 64% of trades 1Q12

Deepened our presence in Asia

• Improved our position in Asian Syndicated Loans from 10[th] in 2011 to 7[th] in 1Q12

• Significant increase in Dim Sum (China offshore) Bond league tables from 29[th] in 2011 to 8[th ] in 1Q12, d ou bli ng u f ll year vo ume l

Asia-Pacific (ex-Japan) Markets

• Dr a m at i c p r og r ess up t h e A s i a -P ac ifi c (e x- Japa n ) Bond league tables from 20[th] in 2009 to 4[th] in 1Q12

• No.1 Mandated Lead Arranger in Asia-Pacific (exJapan) Syndicated Loans

• Syndicated Loan market volumes increased by 27% to US$342bn (largest ever volumes) in 2011. ANZ increased MLA market share to 8.7% from 6.0%

• Bond market volumes have significantly increased by 52% on an annualised basis in 1Q12. ANZ increased market share to 3.6% from 2.9%

Category	2011	Q1 2012	Q1 2012	Q1 2012
	Rank	Rank # Deals Amount Arranged
Australia (ex-self led)	1	1	29	AUD5.5b
New Zealand(ex-self led)	1	1	7	NZD0.9b
China offshore (Dim Sum)	29	8	6	CNY2.1b
Asia Pacific ex-Japan	9	4	44	USD9.0b

Source – Bloomberg

Loan syndications mandated arranger league table rankings

Category	2011	Q1 2012	Q1 2012	Q1 2012
	Rank	Rank # Amount
		D l A d ea s rrange USD
Asia-Pac ex-Japan	1	1	28	$3.0b
Australia	1	2	12	$1.4b
Asia	10	7	9	$1.0b

Source – Thomson Reuters LPC

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43

APEA

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Investor Discussion Pack
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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

New Zealand Division

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New Zealand Businesses - Simplification & Efficiency

Simplifying the business

• Continuing to simplify the management structure

Profit before Provisions NZDm

• Progressing with process and product simplification

• Moving to one IT system

becomingbecomingthethebankbankofofchoicechoiceofforNewNew ZealandersZealanders

• Simplifying our business processes

• CANSTAR Best Agribusiness Bank (April 2012) to complement Canstar Cannex Bank of the Year 2011

• Awarded the Morningstar Fund Manager of the Year and Morningstar KiwiSaver Manager of the Year

Managing for changed conditions

• Cost focus – aiming to be the most efficient bank in New Zealand with lowest CTI

• Return focus – profitable growth, improved ROE, margin management

• Risk focus – manage to the changed economic settings

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810
761 772
716
667
1H10 2H10 1H11 2H11 1H12
Cost to Income Ratio
52%
50%
48%
46%
44%
42%
1H10 2H10 1H11 2H11 1H12
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45

New Zealand

New Zealand Businesses - Balance sheet management

Funding

• Net Interest Margin

• • 3.00% Funding gap has reduced by $1.9b YTD, largely driven by an increase in customer deposits – at ca ll an d sav ngs accoun i t s up 14% 2 . 50% 2.00%

• Retail • Mortgages – market growth subdued at +0.9% 1.50% YTD in part due to the drag created by 1H10 2H10 1H11 2H11 1H12

• Mortgages – market growth subdued at +0.9% YTD in part due to the drag created by Earthquake Commission payments

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Net Loans & Advances Customer Deposits
(incl. acceptances)
NZDb
100
88.4
86 . 8 86 . 6
80
60 51.1 50.2 52.3
40
20
0
Mar 11 Sep 11 Mar 12 Mar 11 Sep 11 Mar 12
Retail Commercial Wealth
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• Strong focus on mortgages has meant return to system growth

• Credit card balances grew at system

• Continued margin management from disciplined approach to deposits pricing and mix

Commercial

• O ngoing higher Dairy sector pay-outs driving deleveraging in the Agri sector

• Lending volumes up driven by strong growth in Business Banking (5% HOH)

• A focus on credit quality has seen a reduction in Commercial and Agri impaired assets of ~4% YTD

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46

New Zealand

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Investor Discussion Pack
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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

Risk Management

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Credit Risk Weighted Assets

Total Credit Risk Weighted Assets Credit Risk Weighted Assets (AUDb) Movement 1H12 v 2H11 (AUDb)

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8.2
250.2
248.8 250.2
248.8
1.5
3.1
2.2
233 . 5 233 . 2
220.4
Mar 10 Sep 10 Mar 11 Sep 11 Mar 12 Sep 11 Growth Data FX Risk Mar 12
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Sep 11 Growth Data FX Risk Mar 12 Review Impact

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48

Provision Charge

Total Provision Charge (IP charge by Division, total CP charge)

Provision charge remains at low levels

Total Provision charge as % of Average Net Advances

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$m
Average Net Advances
1,200
1,098
0.86%
1,000
722
800 565
660
551
0.61%
600
0.50%
400
0.32%
200 0.28%
0
0.18%
-200
1H10 2H10 1H11 2H11 1H12
Institutional Australia Division 2007 2008 2009 2010 2011 1H12
NZ Businesses APEA ex - Institutional
CP charge/credit
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49

Impaired Assets

Gross Impaired Assets by Size of Exposure

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Gross Impaired Assets by Type
by Size of Exposure
$m
$m
Impaired Loans NPCCD Restructured 8 , 000 6,561 6,561 6,221
5,581
6,000 5,343
8,000
4,000
7,000 6,561 6,561 2,000
6,221
0
6,000 5,581
5,343 Mar 10 Sep 10 Mar 11 Sep 11 Mar 12
> $100m $10-$99m < $10m
5,000
New Impaired Assets by Segment
4,000
$m
4,000
3,000 3,126
3,000 2,319 2,436 2,335
2 , 000 2,000 1 , 824
1,000 1,000 Driven by
two large
0 single names
0
1H10 2H10 1H11 2H11 1H12
Mar 10 Sep 10 Mar 11 Sep 11 Mar 12 Institutional Commercial Retail
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50

Total lending exposures – by Geography

Exposure at default (EAD)

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

Other North
31% East Asia
19% Other South
East Asia
18% Hong Kong
32%
Singapore
Australia 11% Asia
65%
17%
New Institutional
Zealand Trade
26%
Other
Institutional
64%
10%
Retail
1%
3%
3% Pacific
UK & Europe
Americas
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1. As at 31 March 2012

51

Total lending exposures – by Sector

						% in Non Performing	% in Non Performing	% in Non Performing
	Exposure at default (EAD) as a % of group total
			Category	EAD		% in Non Performing
	14% 7%			Sep-11	Mar-12	Sep-11	Mar-12
			Consumer Lending	45.2%	45.7%	0.4%	0.3%
			Finance, Investment & Insurance	14.4%	14.4%	0.3%	0.2%
	6% 6%		Property Services	6.9%	7.0%	2.5%	2.1%
			Agriculture, Forestry, Fishing & Mining	6.0%	5.9%	3.1%	3.0%
			Manufacturing	5.8%	5.6%	2.2%	0.9%
	46% 4% 4% 3%		Wholesale Trade	3.2%	3.8%	1.5%	1.1%
			Government & Official Institutions	4.4%	3.6%	0.0%	0.0%
			Retail Trade	2.5%	2.5%	0.7%	0.5%
			Tt&St	21%	21%	07%	06%
	2% 2% 2% 1% 4%		ranspor orage	.	.	.	.
			Entertainment, Leisure & Tourism	1.8%	1.8%	1.8%	2.1%
			Business Services	1.6%	1.6%	3.1%	2.7%
			Construction	1.5%	1.5%	1.1%	5.3%
			Other	4.6%	4.5%	0.9%	1.4%

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52

Australia 90+ Day Delinquencies

Australia Retail 90+ day delinquencies

Owner Occupied vs. Investment Loans 90+ DPD (%)

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T o t a l M or t gage or P tf o li o NSW & ACT M or t gages 1.0%
QLD Mortgages VIC Mortgages Owner
0.8%
Occupied
WA Mortgages Total Credit Cards
Loans
1.25% 0.6%
0 . 4%
Investment
1.00% 0.2% Loans
0.0%
Sep-07 Sep-08 Sep-09 Sep-10 Sep-11
0.75%
Mortgages have low loss rates
0.50% Individual Provision Loss Rates
1H10 2H10 1H11 2H11 1H12
0.25% Group 0.62% 0.42% 0.32% 0.31% 0.36%
Australia Mortgages 0.02% 0.01% 0.01% 0.03% 0.03%
0.00%
Mar 08 Mar 09 Mar 10 Mar 11 Mar 12
53
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Australia – Mortgages

Portfolio Statistics	Portfolio Statistics
Total Number of Mortgage Accounts	851k
Total Mortgage FUM	$178b
% of Total Australia Region Lending % of Total Group Lending	60% 43%
Owner Occupied Loans - % of Portfolio	63%
Average Loan Size at Origination	$258k
Average LVR at Origination	64%
AverageDynamicLVRofPortfolio	50%
% of Portfolio Ahead on Repayments1	48%
First Home Owners - % of Portfolio	9%
First Home Owners - % of New Lending	7%

Dynamic Loan to Valuation Ratio

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% Portfolio
60%
50%
40% Portfolio >90% LVR:
• Sep 08 = 7%
30% • Mar 12 = 4%
20%
10%
0%
0-60% 61-75% 76-80% 81%-90% 91-95% 95%+
Sep 10 Mar 11 Sep 11 Mar 12
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Mortgage Portfolio by State
(Mar 2012)
28% NSW & ACT
16%
QLD
VIC
10%
19%
WA
OTHER
27%
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1. One month or more ahead of repayments. Excludes funds in offset accounts.

54

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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 Liti g ation Reform Act of 1995. ANZ does not undertake an y obli g ation to p ublicl y 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: jill.craig@anz.com

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