2025 Investor Briefing Strategy update

Important information

Forward-looking statements

The material in this presentation contains general background information about the ANZ Group's activities current as at 12 October 2025. It is information given in summary form and does not purport to be complete.

It is not intended to be and should not 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 contains certain forward-looking statements or opinions including statements regarding our intent, belief or current expectations with respect to the ANZ Group's business operations, market conditions, results of operations and financial condition, capital adequacy, sustainability objectives or targets, specific provisions and risk management practices. When used in the presentation, the words 'forecast', 'estimate', 'goal', 'target', 'indicator', 'plan', 'pathway', 'ambition', 'modelling', 'project', 'intend', 'anticipate', 'believe', 'expect', 'may', 'probability', 'risk', 'will', 'seek', 'would', 'could', 'should' and similar expressions, as they relate to the ANZ Group and its management, are intended to identify forward-looking statements or opinions. Forward-looking statements or opinions may also be otherwise identified within this presentation, including by the use of footnotes. Those statements are usually predictive in character; or may be affected by inaccurate assumptions or unknown risks and uncertainties or other factors, many of which are beyond the control of the ANZ Group or may not be known to the ANZ Group at the time of the preparation of the ANZ 2030 strategy, such as general global economic conditions, external exchange rates, competition in the markets in which the ANZ Group will operate, and the regulatory environment. Each of these statements and related actions is subject to a range of assumptions and contingencies, including the actions of third parties. As such, these statements should not be relied upon when making investment decisions.

These statements only speak as at the date of publication and no representation is made as to their correctness on or after this date. Forward-looking statements constitute 'forward-looking statements' for the purposes of the United States Private Securities Litigation Reform Act of 1995. No member of the ANZ Group undertakes 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.

There can be no assurance that actual outcomes will not differ materially from any forward-looking statements or opinions contained herein.

Unless otherwise indicated, all market share information in these presentations is based on management estimates having regard to internally available information, all amounts in this document are in Australian dollars, and all financial performance metrics are on a cash profit basis. Sum of parts within charts and commentary may not equal totals due to rounding.

2025 Investor Briefing Strategy update

Nuno Matos

Chief Executive Officer

Banking in Australia & New Zealand is highly competitive; and our banks are central to providing credit

Banking industry ROE & banking assets to private sector, as share of GDP for select OECD nations¹

Industry ROE %

ballk assets to GDP, /

^1. Credit from domestic banks to the private non-financial sector (households, NPISHs, and non-financial corporations); data presented for Australia, New Zealand, and a selection of comparable countries which were initial OECD members

^2. ROE is calculated by an equity-weighted average of the Big 4 banks less their NZ subsidiaries; the 2014 value excludes ANZ as no reliable equity split publicly available

^3. ROE is calculated by an equity-weighted average of ANZ NZ. ASB Bank of NZ, and WBC NZ in 2024: the 2014 value excludes ANZ NZ as no reliable equity split publicly available

Industry highly 'commoditised'; and increasingly disintermediated

Australia's majors are far more reliant on net interest income vs. fees

Net interest income vs. other operating income, 100%

Brokers writing almost 3 in 4 mortgages in Australia

74%

of new mortgages were written by brokers in 2024

56%

in 2019

The Australia market offers great opportunities

Large market, growing population and growing customer base

Stable economy and strong governance

Stronger asset quality and better credit ratings for Australian Banks provides a better ratings outcome¹

ANZ's distinctive portfolio

Two scale markets, two market-leading positions and a well-diversified business model

Australia Retail

~8 million customers

Top 4 major bank

Significant opportunity to grow

Australia Commercial

~700,000 customers

Top 4 major bank

Significant opportunity to grow

Institutional

1 Institutional

Bank across
Australia, New
Zealand and Asia
for relationship
strength & quality¹

Extend leadership

New Zealand

1 market leader

Extend leadership

Coalition Greenwich Large Corporate Relationship Banking survey (Australia, New Zealand) and Coalition Greenwich Voice of Client Asian Corporate Banking Study

New Zealand - Retail, Commercial, Institutional
International - Institutional. Retail & Commercial in Pacific

ANZ \$ 2030

Unlocking our potential to win the preference of customers, shareholders and the community

Strategic pillars

Customer first

With market leading, differentiated and superior propositions, we will raise the standard of every digital and human interaction for our customers.

Simplicity

To set the market standard for productivity, we will deliver organisational simplification, divest non-core assets and improve efficiency.

Resilience

Leading the industry in trust, safety and risk management, we will adhere to the highest standards of non-financial risk management and strengthen end-to-end accountability across the bank.

Delivering value

To sustainably improve our financial performance, we will create lasting value by delivering higher returning growth and results that matter for our stakeholders.

Core enablers

ANZ 2030 - Two phases to our strategy

First phase – Across FY26 & FY27

Delivering on immediate priorities to get the basics right

Substantial improvement in productivity
Initial investment for growth

Second phase – Beyond FY27

Realise the benefits of these strong foundations

Accelerate growth
Outperform the market

In both phases - Continuously improving our returns and delivering value

Five immediate priorities

1. Embed new leadership team and continue to drive a cultural reset

A blend of local and global talent and experience

Nuno Matos Chief Executive Officer

Pedro Rodeia Group Executive Australia Retail (Commencing Nov 25)

Clare Morgan
Group Executive Australia
Commercial

Mark Whelan Group Executive Institutional

Antonia Watson
Group Executive & CEO New
Zealand

Farhan Faruqui
Chief Financial Officer

Stephen White
Group Executive Operations
(Commencing Nov 25)

Christine Palmer
Group Chief Risk Officer
(Commencing Dec 25)

Donald Patra
Group Chief Information Officer
(Commencing Nov 25)

Elisa Clements
Group Executive
Talent & Culture

A culture based on talent and performance that focuses on customers' needs, promotes healthy and sustainable ambition, external competitiveness, and a desire to outperform while ensuring compliance with no short cuts

2. Integrate Suncorp Bank faster to deliver value¹

Suncorp Bank performing strongly

Since deal announcement in July 2022:

+19%

growth in customer deposits

+18%

growth in net loans and advances

Path forward to migrate Suncorp Bank

Safe and secure migration of Suncorp Bank customers to ANZ by June 2027

ANZ brand, wider range of products and expanded branch network

ANZ will meet all Federal and Queensland Government commitments

Earlier and higher cost synergies to be realised

Estimated full run-rate annualised pre-tax cost synergies of \$500m by FY29

Vast majority captured in FY28

3. Accelerate the delivery of the ANZ Plus digital front-end to our retail and small business customers¹

Today

Three technology stacks across ANZ, ANZ Plus and Suncorp Bank

By Sep 2027

Upgrade 8 million retail customers in Australia to the ANZ Plus front-end. New, superior, single channel experience

Post 2027

Completing the re-platforming of the middleware and eliminating existing middleware legacy platforms

3 x digital front-ends
3 x middleware platforms
2 x core banking systems
1 x digital front-end
2 x middleware platforms
1 x core banking system
1 x digital front-end
1 x middleware platform
1 x core banking system

4. Reduce duplication and simplify the organisation¹

Estimated pre-tax annual gross cost savings of around \$800 million in FY26

Stop initiatives not aligned to our strategy

Prioritise what will make the most difference to our customers

Improve productivity through a simpler organisational structure and operating model

Exit non-bank activities that lack economic or strategic rationale

This page contains forward looking statements. These statements are subject to the disclaimer on page 2
Approximately 3,500 employees expected to depart the Group by September 2026 as announced on 9 September 2025

5. Enhance non-financial risk management to improve resilience

Significant amount of work already underway

Settlement with ASIC in relation to matters within Markets and Australia Retail. Established an ASIC Matters Resolution Program within Australia Retail

Appointed the right leadership to deliver this work, weekly forum to oversee progress

Delivered a comprehensive Root-Cause Remediation Plan to APRA as required by the CEU

Expected three year program of work¹