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11 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 3 November 2011 Results Presentation & Investor Discussion Pack 11 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 3 November 2011 Mike Smith

  1. Operating Expenses Operating Expense Growth Pro Forma HOH Group Operating Expense growth Australia New Zealand Group Division Businesses 5.5% 4.1% 0.7% 6% 5% New Zealand 4% 3% Businesses 2% 1% 1% 0% 1.9% Institutional 2.2% 2.4% -5% 0.1% APEA ex- Institutional APEA APEA 1.0% Institutional Institutional ex-Institutional 1.3% 1.2% Australia Division 20% 19% 0.4% 13% 0.3% 1.6% 10% 10% 8% Group Centre 6% 5% 1.0% 0.9% 0.3% -0.4% -0.7% -4% 2H10 1H11 2H11 2H10 1H11 2H11 20

  2. Continue to invest for future growth and productivity Operating Expense Growth Pro Forma FY11 v FY10 64 269 83 7,718 421 251 7,132 • Risk management systems • Payments & IT infrastructure • Back & middle office FTE • Frontline FTE in Institutional & APEA • Institutional cash management platform rollout, Global Markets systems • Investment in regional support hubs • Operational process transformation • Super Regional Sourcing program • Regional support hubs • New Zealand simplification • RBS, One Path and Landmark integration synergies FY10 Running the Infrastructure Investment for Productivity Realised FY11 Business Upgrade & Growth Investment productivity Compliance Benefits 21

  3. Credit quality is improving Total Provision Charge New Impaired Assets $m $m 1,800 4,000 1,621 3,600 1,435 1,600 3,500 3,126 3,035 1,400 3,000 1,200 1,098 2,319 2,437 2,500 1,000 1,842 2,000 722 800 660 551 1,500 600 1,000 400 500 200 0 0 1H09 2H09 1H10 2H10 1H11 2H11 -200 1H09 2H09 1H10 2H10 1H11 2H11 Institutional Australia Division NZ Businesses APEA ex-Institutional CP charge 22

  4. Collective Provision Charge & Management Overlay Economic Cycle & Concentration Collective Provision Charge (Management) Overlay Balance Lending Growth Risk Profile Additional natural $m disaster overlay Portfolio Mix 600 Cycle & Concentration (Management Overlay) $m 500 500 400 400 300 200 300 100 0 200 -100 100 -200 Total charge $8m -300 0 Sep09 Mar10 Sep10 Mar 11 Natural Global Sep 11 -400 Disasters Volatility 1H09 2H09 1H10 2H10 1H11 2H11 23

  5. Outlook Global Markets Revenue Total Provision Charge $m $m Sales Trading & Balance Sheet 400 1,621 1,435 1,098 722 200 659 551 0 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1H09 2H09 1H10 2H10 1H11 2H11 Net Interest Margin ex-Markets Foreign Currency Translation 2.81% 2.80% 1.20 1.40 2.78% 2.69% 2.55% 2.35% 1.00 1.20 AUD/USD (LHS) AUD/NZD (RHS) 0.80 1.00 1H09 2H09 1H10 2H10 1H11 2H11 Sep-10 Mar-11 Sep-11 Lending Volumes Expense Growth HOH Growth (FX Adj) Paced investment spend to 6% 13% continue 7% 4% 3% 2% -2% Australia NZ Businesses Institutional APEA ex- Division Institutional 2H10 1H11 2H11 24

  6. 11 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 3 November 2011 Investor Discussion Pack Net Interest Margin

  7. NIM movement summary Group Regions Divisions Basis points (bps) Australia NZ Australia Division NZ Businesses Global Institutional YOY HOH YOY HOH YOY HOH YOY HOH YOY HOH YOY HOH Starting NIM 247.4 247.2 261.4 259.5 226.9 235.4 258.8 257.9 230.1 243.8 215.3 198.1 Funding & Asset 2.8 3.8 1.2 5.9 2.2 1.9 -3.6 0.2 2.3 2.0 -4.1 1.4 Mix Funding Costs -3.4 -4.5 -0.4 -3.9 -5.7 -4.5 -0.8 -1.3 -9.6 -7.7 -7.6 -8.0 Deposits -7.8 -3.4 -6.6 -3.7 -14.8 -2.8 -8.3 -3.8 -16.8 -3.8 -0.8 -2.4 Assets 16.3 2.5 11.0 2.3 33.9 12.9 10.8 4.6 36.5 13.9 12.7 -7.9 Other -1.1 1.0 -0.9 0.8 5.5 0.8 0.1 -1.4 4.2 1.4 -7.6 -0.6 Movement ex- 6.8 -0.6 4.3 1.4 21.1 8.3 -1.8 -1.7 16.6 5.8 -7.4 -17.5 markets Markets -8.5 -2.4 -5.5 0.2 -10.3 -3.7 0.0 0.0 0.0 0.0 -16.3 5.1 Total Movement -1.7 -3.0 -1.2 1.6 10.8 4.6 -1.8 -1.7 16.6 5.8 -23.7 -12.4 Ending NIM 245.7 244.2 260.2 261.1 237.7 240.0 257.0 256.2 246.7 249.6 191.6 185.7 Some small variances to the detailed NIM pages exist as a result of rounding 26

  8. Net Interest Margin - Group NIM movement FY11 v FY10 bps 16.3 2.8 1.1 247.4 245.7 3.4 8.5 Ex-markets up 6.8 bps 7.8 Down 1.7 bps FY10 Funding & Funding Costs Deposits Assets Other Markets FY11 Asset Mix Key drivers of movement Funding & Reduced reliance on wholesale funding as growth in customer deposits met ongoing Asset Mix funding requirements. Funding Costs Higher wholesale funding costs. Deposits Competition in Australia and New Zealand and negative product mix impacts. Assets Flow through of repricing benefits and changes in the lending mix. 27

  9. Net Interest Margin - Group NIM movement 2H11 v 1H11 bps 3.8 247.2 1.0 2.5 4.5 244.2 2.4 3.4 Ex-markets Down 0.6 bps Down 3.0 bps 1H11 Funding & Funding Costs Deposits Assets Other Markets 2H11 Asset Mix Key drivers of movement Funding & Asset Reduced reliance on wholesale funding. Mix Funding Costs Higher wholesale funding costs and lower returns on capital. Largely impacted by lower returns from the replicating portfolio and competition in Deposits Australia and New Zealand. Flow through of pricing decisions in Australia and New Zealand and change in the Assets lending mix to higher margin product. 28

  10. NIM - Australia Division NIM movement FY11 v FY10 bps 258.8 257.0 0.1 10.8 3.6 0.8 8.3 Down 1.8 bps FY10 Funding & Funding Costs Deposits Assets Other FY11 Asset Mix NIM movement 2H11 v 1H11 bps 257.9 0.2 1.4 4.6 256.2 1.3 3.8 Down 1.7 bps 1H11 Funding & Funding Costs Deposits Assets Other 2H11 Asset Mix 29

  11. NIM – New Zealand Businesses NIM movement FY11 v FY10 246.7 bps 4.2 36.5 2.3 230.1 9.6 16.8 Up 16.6 bps FY10 Funding & Funding Costs Deposits Assets Other FY11 Asset Mix NIM movement 2H11 v 1H11 bps 249.6 1.4 13.9 2.0 243.8 7.7 3.8 Up 5.8 bps 1H11 Funding & Funding Costs Deposits Assets Other 2H11 Asset Mix 30

  12. NIM – Institutional Division NIM movement FY11 v FY10 bps 215.3 12.7 4.1 7.6 0.8 7.6 191.6 Down 23.7 bps 16.3 FY10 Funding & Funding Costs Deposits Assets Other Markets FY11 Asset Mix NIM movement 2H11 v 1H11 bps 1.4 198.1 185.7 5.1 8.0 2.4 7.9 0.6 Down 12.4 bps 1H11 Funding & Funding Costs Deposits Assets Other Markets 2H11 Asset Mix 31

  13. 11 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 3 November 2011 Investor Discussion Pack Balance Sheet Management

  14. Group loans and deposits Group net loans and advances Group customer deposits (including acceptances) Growth Rates Growth Rates FY08 FY09 FY10 FY11 FY08 FY09 FY10 FY11 $b $b 12% 16% 14% 15% 16% 0% 9% 7% 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 100 50 50 0 0 Sep 07 Sep 08 Sep 09 Sep 10 Sep 11 Sep 07 Sep 08 Sep 09 Sep 10 Sep 11 Retail Commercial Institutional 33

  15. Customer deposits by geography Australia (AUDb) New Zealand (NZDb) APEA (USDb) Growth Rates Growth Rates Growth Rates FY08 FY09 FY10 FY11 FY08 FY09 FY10 FY11 FY08 FY09 FY10 FY11 10% 16% 9% 11% 5% 1% 0% 4% 49% 49% 68% 40% 200 180 160 140 120 100 80 60 40 20 0 Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep 07 08 09 10 11 07 08 09 10 11 07 08 09 10 11 1 Retail Commercial Institutional 1. Includes Wealth 34

  16. Customer deposit composition by segment Group deposits by segment Deposits composition Sep 2011 (AUDb) 297 257 Group 39% 18% 41% 2% 233 124 110 Australia 31% 21% 47% 1% 102 54 46 APEA 77% 23% 47 117 98 80 New Zealand 7% 19% 29% 45% Sep 09 Sep 10 Sep 11 Wealth Retail Commercial Institutional 35

  17. Net loans and advances by geography Australia (AUDb) New Zealand (NZDb) APEA (USDb) Growth Rates Growth Rates Growth Rates FY07 FY08 FY09 FY10 FY11 FY07 FY08 FY09 FY10 FY11 FY07 FY08 FY09 FY10 FY11 14% 0% 9% 6% 12% (1%) (1%) (3%) large (2%) 57% 44% 300 250 200 150 100 50 0 Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep 07 08 09 10 11 07 08 09 10 11 07 08 09 10 11 1 Retail Commercial Institutional 1. Includes Wealth 36

  18. Lending composition by segment Group lending composition Lending composition by segment (AUDb) Sep 2011 397 369 346 Group 1% 23% 22% 54% 215 202 Australia 19% 17% 63% 1% 185 APEA 82% 18% 87 85 86 1% New Zealand 7% 54% 37% 91 79 71 Sep 09 Sep 10 Sep 11 Wealth Retail Commercial Institutional 37

  19. 11 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 3 November 2011 Divisional Performance Australia Division

  20. Australia Division – Consistent customer focus and well- established market positioning driving solid results 1. Delivered customer propositions targeted at Pro forma Profit before credit & key segments aligned to our Super Regional income tax Strategy $m • New banking services for affluent customers 5,000 • Improved process for NZ customers opening 482 accounts in Australia Wealth 4,000 • Customer referral agreements with Shanghai Rural 1,680 Commercial 3,000 Commercial Bank (SRCB) and AmBank 4,673 • Introduced multi-lingual capabilities to more than 4,431 2,000 4,003 2,700 ATMs (9 languages) 2,511 Retail 1,000 2. Driving customer growth and improving productivity and efficiency 0 • Leveraging Super Regional advantage and franchise FY09 FY10 FY11 FY11 by strength across Retail, Commercial, Wealth and business Institutional Lending & deposit growth • Improving efficiency by centralising and (YOY) standardising administration functions 20% 3. Successful implementation of technology and 18% innovation initiatives 15% 13% • Rolled out integrated mortgage origination platform • Expanded functionality of GoMoney for BPAY 10% payments (~420k customers & ~26% of all online 7% traffic) 5% 5% • Launched Multi-currency Travel Card in May 11 (~55k cards sold with a value of $220m) 0% • Launched OneAnswer Frontier – a 'fee for service' (commission free) investment platform Retail Retail Commercial Commercial lending deposits lending deposits • Term Deposits now available on OneAnswer • EasyProtect and 50+Life insurance products sold directly via anz.com and branches 39

  21. Australia Division – Financial performance Pro forma Pro forma NPAT movement – FY11 v FY10 Growth Rates $m Revenue 395 8 5% 2% 145 2,777 113 2,717 FY11 2H11 69 Up 2% Expenses FY10 Net Other Expenses Provisons Tax and FY11 4% Interest Income OEI 1% FY11 2H11 Pro forma NPAT movement – 2H11 v 1H11 $m Profit Before 117 Provisions 1,445 5% 75 2% 53 1,332 12 14 FY11 2H11 Up 8% Provisions 19% 1H11 Net Other Expenses Provisons Tax and 2H11 Interest Income OEI -28% FY11 2H11 40

  22. Australia Geography – Balance sheet and funding Balance sheet management strategy Significant improvement in loan to deposit ratio • A well managed balance sheet supports sustainable lending and revenue growth • We aim to: $b %  Continually improve the composition of deposits in line with Basel 3 expectations - type, tenor and 300 200 segment to fund core assets  Reduce the funding gap and therefore reliance on short term wholesale debt 250 175  Continually improve capital efficiency Outcome • Loan to deposit ratio has improved to 156% in FY11 200 150 from 186% in FY08 • Improved quality of deposit base:  Strong proportion of deposits from Household 150 125 segment (Household deposits as % total deposits up from ~39% in Sep 08 to ~41% in Sep 11) 1  Household customer deposit growth above market rates (1.5x system for the year 1 ) 100 100 • Market share for traditional banking products Sep 08 Sep 09 Sep 10 Sep 11 improved from 12.5% in Sep 10 to 13.0% in Sep 11 2 Net loans and advances incl. acceptances • Net gain of 113k transaction account customers Customer deposits • Launch of Term Deposits on our Wealth platform provides additional customer contact and allows Loan to Deposit Ratio (RHS) customers to better manage their funds 1. Source: APRA Banking Statistics 2. Roy Morgan Research 41

  23. Australia Geography – loans and deposits • Lending up 6% YOY and 2% HOH Net loans and advances (including acceptances) • Mortgages up 7% YOY and 3% HOH growing at 1.2x system 1 YOY $b 285.0 269.2 300.0 • Commercial up 5% YOY and 4% HOH 246.4 247.1 250.0  Business Banking up 10% YOY and 4% HOH 200.0  Small Business Banking up 12% YOY and 9% 150.0 HOH 100.0  Regional Commercial Banking flat YOY and up 50.0 4% HOH 0.0 • Institutional up 5% YOY and 1% HOH Sep 08 Sep 09 Sep 10 Sep 11 Customer deposits • Deposits up 11% YOY and 9% HOH $b • Focus on core bank customers 250.0 • Retail up 13% YOY and 6% HOH 183.2 200.0 164.8 • Commercial up 18% YOY and 7% HOH 153.5 132.7 150.0  Business Banking up 17% YOY and 5% HOH 100.0  Small Business Banking up 22% YOY and 11% HOH 50.0  Regional Commercial Banking up 17% YOY and 0.0 4% HOH Sep 08 Sep 09 Sep 10 Sep 11 • Institutional up 5% YOY and 16% HOH 1. Source: APRA Banking Statistics and RBA data 42

  24. Australia Division – Net Interest Margin Net Interest Margin Margin strategy • ANZ is focused on profitable growth in key segments using a service led approach 2.80% 2.57% 2.59% 2.53% 2.60% 2.41% Outcome 2.40% • YOY NIM down 2 bps 2.20%  Improved asset margins and reduced reliance 2.00% on wholesale funding largely offset by increased deposit competition and negative FY08 FY09 FY10 FY11 asset mix impacts NIM movement 2H11 vs. 1H11 bps • HOH NIM down 2 bps 0.2 257.9 4.6  Asset repricing benefit offset by increased 256.2 1.3 funding costs and price competition for 1.4 deposits  Costs of funds impact on variable rate book 3.8 pronounced in 4Q 1H11 Funding & Funding Deposits Assets Other 2H11 Asset Mix Costs 43

  25. Retail – ANZ value proposition: “easy and empowering” Superior customer service Priorities Capabilities • Position ANZ as the most “easy and empowering bank” for Strong brand customers • Strategic marketing campaigns – “We live in your world.” • Be the bank of choice for target customer segments:  Affluent Deeper  Migrant relationships  Young money  Over-50s with  ANZ Staff Customers • Tailored offerings and better processes • More specialists (migrant teams, retirement bankers, etc.) • Ability to open Australian accounts in other countries (e.g. Simple to do New Zealand and China) business with • Simplified products, processes and policies making banking easier for customers and staff • Channels aligned with customer trends • Reconfiguring branch network – more efficient customer friendly footprint, more technologically advanced (e.g. Smart ATMs, cash recyclers, video conf.), more sales and Multi-channel advice oriented (e.g. engagement desks, Client Advisors) sales & service • Single front-end platform (iKnow) will deliver a seamless customer experience across all channels • Extending functionality of online and mobile platforms in line with customer expectations 44

  26. Retail – Strategy delivering results Customer deposit composition FY11 v 2H11 v Movement FY10 1H11 100% 11% Income 6% 2% 13% 16% 80% Expenses 4% 2% 30% 33% 39% 60% Profit Before Provisions 7% 3% Net loans & advances incl. acceptances 7% 3% 40% 57% 56% Customer deposits 13% 6% 46% 20% 0% Sep 09 Sep-10 Sep-11 Using a combination of short & long-term strategies to drive growth Term deposits Savings Transaction • Focused on growing share of wallet in key customer Cost to income (CTI) ratio segments through a distinctive value proposition of being the most easy and empowering bank • Competitive in the market on price without being the 46% price leader 45% Outcome • Revenue growth of 6% YOY 44% • Improving CTI – 43.8% in FY11 from 44.6% in FY10 • Peer leading customer satisfaction and improving 43% share of wallet • Strong growth in deposits - up 13% YOY and 6% 42% HOH 1H10 2H10 1H11 2H11 • Mortgages FUM up 7% YOY and 3% HOH 45

  27. Retail - Focused on profitable growth and market share With MFI Customer Satisfaction again … and Peer leading Customer Advocacy approaching 80%... Net Promoter Score 1,3 (%) MFI Customers 1 80 78 76 74 72 70 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 … purchase intention for ANZ home loans is up … and share of wallet growth outperforms YOY and HOH domestic peers (%) Home loans trial intention 2 (%) Share of wallet – Traditional Banking 1 30 65 25 60 20 55 15 50 10 45 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Peer 1 Peer 2 Peer 3 1. Source: Roy Morgan Research 46 2. Source: Australian Retail Brand Monitor 3. "Net Promoter Score sm is a service mark of Bain & Company, Inc., Satmetrix Systems, Inc. and Mr. Frederick Reichheld"

  28. Retail – Mortgages Dynamic Loan to Valuation Ratio Portfolio Statistics % Portfolio 60% Total Number of Mortgage Accounts 832k 50% 40% Total Mortgage FUM $170b 13% of Portfolio >80% LVR 30% % of Total Australia Region Lending 60% 20% 10% % of Total Group Lending 43% 0% 0-60% 61-75% 76-80% 81%-90% 91%+ Owner Occupied Loans - % of Portfolio 64% Sep-09 Sep 10 Sep 11 Average Loan Size at Origination $231k Mortgage Portfolio by State Average LVR at Origination 63% (Sep 2011) Average Dynamic LVR of Portfolio 48% NSW & ACT 28% 16% QLD % of Portfolio Ahead on Repayments 1 37% VIC 10% First Home Owners - % of Portfolio 9% 19% WA OTHER First Home Owners - % of New Lending 8% 27% 1. One month or more ahead of repayments. Excludes funds in offset accounts. 47

  29. Retail – Becoming the bank of choice for Asia Region customers Customer Focus Capabilities Outcome 1 • Chinese customers able to open Australia & China accounts with one application 600% increase • Improved process for NZ customers (15 min process) new accounts opened by NZ Simple customers since process • Visa Debit card available on arrival processes streamlined from Dec-10 • Fee free international money transfers 2 • Global Retail Referral Tool ~5,800 (~160% increase in • International Banking Services (IBS) branches increased online sales) Tailored from 19 to 47 branches from Jan to Jul-11 new online accounts since products & • Online multilingual application forms April launch of network for movingtoaustralia.anz.com • Significant mortgage and credit card policy enhancements customer needs to better suit customers moving to Australia and insurance proposition under development 47 IBS Branches • New website “Moving to Australia” (19 branches Jan-11) • Dedicated email and phone contacts Understand of • banking in Advertising in targeted countries and segments 400+ in-branch Australia • Banking in Australia Seminars specialists with language capability • Representation at appropriate Expos 1. Results as at September 2011 2. ANZ offers fee free international money transfers to customers with a 1+1 student and parent account in Australia and China 48

  30. Retail – Delivering customer propositions targeted at key segments aligned to our Super Regional Strategy International Banking Moving to Australia website Services branches Concierge model (Online) (Branch) (Phone) • Launched April 2011 • Increased from 19 to 47 • Launched August 2011 branches • Simplified multilingual content • Multilingual account opening • 47 targeted branches supported service  English by over 400 Banking Specialists • High-touch point of contact for  Chinese with language capability customers  Korean • Supported by bilingual marketing • FX and International Money material and in-branch • Multilingual Online forms Transfer Specialists campaigns • Online content including • Arrange Visa Debit Card pick up • Dedicated support resources to LifeGuides, country guides, etc. on arrival assist in sales coaching for • Complements Concierge model segment • Based on successful model in ANZ New Zealand • Supports Global Retail Referrals Tool 49

  31. Retail – Strong momentum in Affluent program driven by new capabilities and services Principles driving performance - easy and empowering Customer Focus Capabilities Outcome (5 months) 1 • Whole customer relationship taken into account in financial ~4,700 product assessment Customer Customers on- knowledge boarded • Front line system for customers designed to capture all customer interactions ~790 • Introduction of a 30 minute Wealth Health Check Wealth Health Checks Accessibility to • New capability for Wealth advisers that takes into account Wealth advice time poor customers Average advice fee $1510 (up ~90%), average • Dedicated customer managers risk premium Customer • Referral processes between Financial Advisers, Mobile $2260 (up ~70%) engagement Lenders, Home Investment Lending Managers and branches for specialist support ~$480m Mortgage FUM • Email communication the #1 method of daily liaison with referred customers from their dedicated customer manager Customer • First meeting with specialists face to face ~Average size of liaison referred Mortgages • Dedicated Practice Manager to guide customers through more than double mortgage process retail average 1. Results from May 2011 to October 2011 50

  32. Commercial overview FY11 v 2H11 v Net loans & advances (incl. Movement FY10 1H11 acceptances) by business Income 6% 4% Regional Commercial 28% Expenses 6% (2%) Banking Profit Before Provisions 6% 7% Business Banking Net loans & advances incl. acceptances 5% 4% 30% Small Business Customer deposits 18% 7% Banking 34% Esanda 8% Strategic focus • Drive customer growth through leveraging: Net loans and advances incl.  ANZ‟s Super Regional capabilities and footprint acceptances & deposits  ANZ‟s strengths in Markets, Trade Finance and % $b Cash Management and Agriculture and Natural 47.8 45.7 50 140 43.0 Resources sector expertise 39.7 40  Retail, OnePath and Esanda‟s distribution 33.7 32.1 130 network 30 • Improve efficiency and productivity through 20 centralising and standardising administration 120 functions and enhanced use of offshore hubs. 10 Outcome 0 110 • Income up YOY and HOH, strong deposit growth Sep-09 Sep-10 Sep-11 and improving asset volumes Net loans and advances incl. acceptances (LHS) Customer deposits (LHS) • NIM up YOY reflecting strong transaction account Loan to deposit ratio (RHS) growth . 51

  33. Commercial – super regional advantage Our super regional platform and ANZ Cross-border referrals core capabilities are driving cross-sell 29% and new-to-bank acquisition increase 500 Super regional platform • ANZ is the only bank able to connect Commercial customers across Asia, New Zealand and Australia 250 via a network that spans:  1,200+ branches  ~270 business centres 0  ~3,000 Commercial frontline staff 1H11 2H11 • The value of this connectivity is evidenced by a 29% growth in cross-border referrals HOH Cross-Border Cash Capability: ANZ Transactive ANZ strengths • To further enhance our super regional offering we‟re • Web-based Cash Management platform with leveraging ANZ‟s market leading capabilities in: cross-regional capabilities  Trade finance:#1 in market share and #1 in • Enables complete regional visibility over customer experience 1 accounts, control over all accounts and financial  Markets: „Best FX House in Australia‟ 2 information  Cash Management: ANZ Transactive cross-border • Provides comprehensive range of payment cash capability solutions to track local and overseas payments 1. Institutional customer share and Institutional customer experience; source East & Partners 2. AsiaRisk 2010 52

  34. Commercial - Business banking Building momentum, creating capacity FY11 lending book composition by to grow key segments Property • Growing the balance sheet through a focus on Retail acquiring larger customers and improved share of 33.8% wallet Manufacturing 10.3% Wholesale Trade • Leveraging super regional connectivity and offering 3.1% new services to customers (e.g. trade finance in Business Services 5.1% RMB) Construction 15.1% 7.3% • Introduced “ANZ OneSwitch” to make it easier for Accommodation customers to switch their banking to ANZ via a 7.4% Heath & Community Services 9.2% simplified application and fulfilment process 8.7% Other • Enhanced frontline skills and capabilities via sales Net loans and advances incl. leadership and coaching initiatives acceptances & deposits • Improved frontline productivity and capacity through continued centralisation of admin-related $b % tasks 18 125 16.2 16 Outcome 14.7 120 14.5 13.8 • Lending up 10% YOY, with a 35% increase YOY in 14 average new-to-bank deal size 12.1 11.8 115 12 • Strong growth in deposits (17% increase YOY) 10 110 Sep-09 Sep-10 Sep-11 Net loans and advances incl. acceptances (LHS) Customer deposits (LHS) Loan to deposit ratio (RHS) 53

  35. Commercial - Regional Commercial banking Capitalising on opportunities for growth FY11 lending book by key and supporting customers in need segments Agriculture Regional Commercial 1 Retail • Leveraging bank-wide sector expertise in Resources 13.8% and Infrastructure to identify and capture 55.1% Property Services Commercial opportunities within major projects, e.g. Construction 3.5% contractors and suppliers. 5.2% Hospitality Agribusiness 2 5.5% • Leveraging bank-wide Agribusiness expertise to Manufacturing capture farmgate business 8.0% 8.8% Other • Increased products per customer in the acquired Net loans and advances incl. Landmark customer portfolio by 60% acceptances & deposits • Supported customers impacted by natural disasters through the „Seeds of Renewal‟ program, providing FY10 benefited from % $b Landmark acquisition and assistance to 40 separate community programs internal resegmentation 20 160 Outcome 150 13.6 15 13.5 • Despite unprecedented climatic conditions and other 140 10.8 macro-level impacts, RCB 2H11 PBP grew 6% 10.5 9.2 10 130 6.8 • Tight cost management led to positive revenue 120 growth exceeding cost growth YOY 5 110 • Lending flat YOY but up 4% in 2H11 • Strong deposit growth HOH (4%) and YOY (17%) 0 100 Sep-09 Sep-10 Sep-11 Net loans and advances incl. acceptances (LHS) Customer deposits (LHS) 1. Non metro Small Business and Business Banking customers Loan to deposit ratio (RHS) 2. Farmgate customers 54

  36. Commercial - Small Business banking (SBB) FY11 lending book composition by Leveraging ANZ distribution networks sector and enhancing customer experience • Acquiring new-to-Commercial customers by tapping Retail 22.2% into the distribution networks of OnePath, Esanda Construction and Retail‟s affluent segment Business Services • Enhanced our innovation offering via the launch of 12.5% Manufacturing 21.3% “Business Insights”, the relaunch of SB Hub and Property Services partnering with Xero (online accounting solution) 10.0% Wholesale Trade 4.9% • Improved productivity through the roll out of SBB Hospitality Assist: elimination of admin tasks from frontline 6.1% 9.3% Transport & Storage staff – 10,000 frontline hours saved 6.7% 6.9% Other Net loans and advances incl. Outcome acceptances & deposits • ~16k net new customers in FY11 1 , with improved % $b customer satisfaction 20 30 • Product cross sell up 15% in FY11 (e.g. asset 14.9 finance, commercial cards, wealth, etc.) 15 12.1 • Deposits up 22% YOY 11.2 10 25 • Lending up 12% YOY 3.7 3.3 3.3 • PBP up 10% HOH and 15% YOY 5 0 20 Sep-09 Sep-10 Sep-11 Net loans and advances incl. acceptances (LHS) Customer deposits (LHS) Loan to deposit ratio (RHS) 1. Metro customers only. As at August 2011 55

  37. Commercial - Esanda Esanda is the market leader in Esanda lending composition by vehicle finance and a prime source assets (Sep 11) of new-to-bank customers Vehicles • Largest player in the dealer vehicle finance 14% market 86% • Market leading credit processing speeds (under Equipment finance 15 minutes to process new applications) • Rich source of new-to-bank consumer and Commercial customers:  ~110k contracts settled per year Esanda lines of business  ~75% of customers have no existing • Auto finance and insurance products relationship with ANZ offering to dealerships and consumers  ~80% of auto finance customers are • National presence and capability across consumers and small business clients Dealer metro and regional (Auto • Provider of equipment finance products offered • Relationships with over 200 dealer Finance) through ANZ groups and over 700 car dealerships • ~300,000 active finance contracts  Leverages Esanda‟s skills and technology • Over 9k deals written per month 1 platform  Fully integrated into ANZ‟s Commercial and • ANZ asset finance offering to commercial ANZ Corporate distribution networks. and corporate banking clients Asset • Offering include hire purchase, chattel Finance mortgage, finance lease facilities, etc. 1. Average Consumer & Commercial contracts per month over FY11 through the Dealer channel 56

  38. Wealth (OnePath superannuation, Investments & Insurance and ANZ Private) Strategic focus In-force annual premium growth • Improving management bench strength appointed new management; $M  Distribution & Advice - Paul Barrett 1,600  Superannuation & Investments - Craig Brackenrig  CRO - Edith Pfister 1,500  CFO - John Frechtling 1,400  Well advanced search for new MD Wealth 1,300 • Develop products to suit simple super environment • Improve penetration of bank customers through branches and 1,200 anz.com 1,100 • Complete roll out of new client service model to ANZ Private Mar 10 Sep-10 Mar 11 Sep 11 • Actively adapt to regulatory change agenda • Deliver service & functionality enhancements to front end Retail insurance lapse rates systems Business Performance (Rolling 12 months) • NPAT down 16% YOY and 15% HOH driven by revenue 13.5% impacts from volatile market conditions 13.0% • Negative investor sentiment given poor equity markets impacted OnePath FUM and E*Trade, FUM down 8% YOY and 12.5% 10% HOH • Annual in-force premiums up 12% YOY and 6% HOH 12.0% • Growth in retail insurance income was offset by higher 11.5% general insurance claims due to catastrophic weather events • Expense growth (+3% YOY) due to higher levels of 11.0% investment in strategic projects coupled with some Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 restatements and one-offs • Lapse rates below industry average during 2011. 57

  39. Wealth – Progress against strategic priorities Priorities Progress • Life insurance launched on anz.com ($3.4m premiums) and 50+ product Step change in ANZ customer base through branches ($0.7m premiums) penetration • Launched Affluent “Wealth Health Check.” • Further increase MyAdvice (phone advice) volumes which doubled YOY Capitalise on • Capturing fee-for-service inflows on OneAnswer Frontier ($400m FUM 1 ) opportunities • Maintain momentum in Retail life insurance, sales increased 29% YOY • Wealth business (previously INGA, ANZ Private and ANZ Investment and Leverage Insurance businesses) now integrated – next steps to improve penetration of combined wealth broader customer base and drive further efficiency. business • Automate key customer and adviser transactions to improve speed and accuracy – (60% of retail life insurance business coming through electronically) Enhance core • Significant transformation of insurance claims management experience capabilities for • Service and functionality enhancements to the OneAnswer investment platform future growth (including online switches, improved super to pension transfer process and term deposits with ~$200m FUM since 1 Sept) • Managing within a constrained environment – prioritised investment spend and improving cost efficiency Productivity • Focus on centralising and standardising processes and back of house functions. 1. As at 30 September 2011 58

  40. 11 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 3 November 2011 Divisional Performance Asia Pacific, Europe & America (APEA) Division

  41. Asia Pacific, Europe & America Division (APEA) - building a leading super regional bank APEA achieved another year of significant growth in APEA Division Revenue FY 2011 … (USD m) • Revenue increase of 22% 2,556 • NPAT growth of 20% 37% CAGR 2,091 • Customer deposit growth up by 40% ($18b) and lending 1,870 growth up by 44% ($12b) 1,184 …while continuing to execute our longer term 15% 716 organic growth strategy … • Balanced business - growth in selected 8% geographies, segments and products – APEA Retail grew to 36% of APEA total revenue 1 FY07 FY08 FY09 FY10 FY11 – APEA Institutional contributed 26% of Global Institutional revenue in FY11 % APEA Contribution to Group Revenue • Connectivity - across the network, and increasingly intra APEA Division Net profit after Tax Asia – intra-Asia revenue up 40% in 2011 (USD m) • Investment discipline – finding investment dollars from 739 cost savings 31% CAGR • Balance sheet strength - improving the deposit base and 617 543 credit quality – greater than 50% CAGR in loans and deposits over the last three years 393 • Brand recognition – Institutional and Commercial 253 recognition more than doubled from 2010 …and completing our acquisitions successfully • RBS Integration – all phases completed by FY11, resulting 1 FY07 FY08 FY09 FY10 FY11 in USD130 million of savings over 4 years from 2010 Underlying Pro Forma 1. Includes Europe and America results not included in originally reported figures 60

  42. APEA Division financial performance strengthened, despite markets trading headwinds in the second half Pro forma NPAT movement – FY11 v FY10 USDm 7 127 168 61 163 739 617 314 90 Up 20% FY10 Net Other Markets Markets Expenses Provisions Tax and FY11 Interest Income Sales Trading OEI Ex-Global Markets Global Markets Pro forma NPAT movement – 2H11 v 1H11 USDm 11 23 41 386 353 42 59 64 27 Down 9% 1H11 Net Other Markets Markets Expenses Provisions Tax and 2H11 Interest Income Sales Trading OEI Ex-Global Markets Global Markets 61

  43. Revenue is growing in key strategic geographies customer segments and products Geographies Customer Segments Products Franchise Markets Institutional Institutional Strategic Priorities • Greater China, Indonesia, • Natural Resources • Financial • Cash • FX & Singapore, Greater Mekong and the • Agriculture Institutions Management Commodities Pacific • Infrastructure • Commercial • Trade • Global Capital Markets Network Markets Retail & Wealth • Europe and America, Japan, Korea Retail & Wealth • Affluent • Emerging and India Affluent • Investments • Insurance • Deposits FY 2011 Revenue Growth 1 Investments Taiwan Retail Asia Pacific 127% 50% 48% & Insurance India Private Bank Asia 115% 34% Cash 59% Management China Agriculture 82% 85% Trade Finance 51% Hong Kong Natural Resources 68% 33% Markets Sales 41% Singapore Infrastructure 48% 33% Global Capital 77% Indonesia FIPS 43% 35% Markets Sales Key Achievements • Locally incorporated and established • Refocused Retail & Wealth business on • Cash platform on track for delivery in operations hub in China Affluent and Emerging Affluent Singapore and Hong Kong • Commenced operations in India and • Launched Commercial segment, building • Expanded Markets and FI sales opened 1st branch in Mumbai on RBS acquisition distribution, and substantially • Offshore RMB services launched • Deepened industry specialisation in improved position in league tables for • Completed RBS integration across 6 Natural Resources, Agriculture and debt capital markets in Asia geographies Infrastructure • Expanded wealth product menu and product specialists menu in Retail & Wealth 1: 2010 and 2011 underlying FX adjusted, excludes partnerships 62

  44. Connectivity is a key differentiator for ANZ, driving revenue growth across the network Intra Asia connectivity becoming APEA Cross-Border Income 1 increasingly important (AUD m) 864 801 • ANZ‟s Asian business intra region cross-border revenues expanded – up 40% YOY 153 40% Intra-APEA 109 • Macro concerns in Europe and America curtailed cross-border income from these markets • Trade transaction volume increased 58% YOY and Australia/NZ 25% HOH 711 692 • RMB cross-border trade approval in Hong Kong with about 1,000 corporate customers having already booked offshore RMB transactions • Offshore customers represent 35% of the our Retail Banking customer base in Singapore and FY10 FY11 Hong Kong • Expanding footprint in China, India, Dubai, London, and New York, while Institutional continuing to develop key markets of Indonesia, Singapore, Hong Kong and Japan • Framework implemented to capture Retail connectivity in the region has Retail & Wealth resulted in a 10 fold increase in cross-border referrals HoH • Partners leverage on ANZ‟s core capabilities in Australia and other markets for customer referrals and connectivity Partnerships  e.g. SRCB and AMMB customers moving to Australia can open ANZ Australia accounts prior to arriving in Australia 1: 2010 and 2011 translated at constant FX rates 63

  45. Growth has driven diversification across APEA as Asia Retail and Northeast Asia have expanded APEA segments percentage of Group revenue FY07 vs FY11 15% 2% 4% 8% 2% Partnerships & Other 1% 1% Asia Retail 2% Pacific Retail 7% 4% Institutional & Commercial FY07 FY11 APEA geographies percentage of Group revenue FY07 vs FY11 15% 2% 5% 8% Europe & North America 2% North East Asia 1% 6% 2% South East Asia Pacific 3% 2% FY07 FY11 64

  46. Tight cost disciplines and improving efficiency are helping to fund front-line investment Improving efficiency APEA FTE • Focused on reducing enablement/back-office costs (including contract employees) while continuing to invest in revenue-generating capabilities ~12,100  Enablement Centralisation Program  Operational efficiency initiatives  Reduced ~230 FTE in Enablement ~11,900  Reduced ~130 FTE in Retail & Wealth and Private Bank Investing to grow revenue generating 2010 Support Retail Markets Institutional 2011 capabilities ex-Markets • Build-up of front-office and support staff, continued investment in systems, distribution and branding: Asia Retail Cost to Income 1  Increased ~160 staff for Commercial and Institutional businesses Revenue USDm  Initiated Global Investment Program to build Expenses core banking, cash management, trading and 1,000 Cost to Income Ratio sales capabilities 100%  New Branches opened in India, China, Dubai and 89% 81% PNG 500 Additional cost synergies achieved in acquired RBS businesses • Restructure of the Retail Business 0 • Alignment with Affluent Strategy away from Mass FY09 FY10 FY11 Market 65 1. Asia Retail underlying (excluding Pacific Retail & Private Bank Asia)

  47. Increased net funding while improving the credit quality of loan portfolio and growing the balance sheet • Significant Volume growth • Credit Quality Improving • Self Funding • 75% Net Loans & Advances <1 year duration APEA Institutional Risk Grade profile Customer Deposits Net Loans & Advances by Exposure at Default (incl. acceptances) USDb 70 63 60 53% CAGR AAA-BBB 50 63% 45 63% 67% BBB- 51% CAGR 38 40 BB+~BB- BB- 27 30 26 >BB- 15% 15% 17 20 15% 13% 14% 10% 10 6% 4% 5% 4% 4% 3% 0 Sep 09 Sep 10 Sep 11 Sep 09 Sep 10 Sep 11 Sep 09 Sep 10 Sep 11 Retail Institutional 66

  48. Brand awareness has significantly improved across all of our customer segments Brand awareness 1 across Hong Kong, Singapore and Taiwan Average Percentage, 2010-2011 2 2010 3 2011 75 69 62 53 34 29 Affluent Emerging Institutional Corporates 1. Includes both Prompted and Spontaneous awareness, arithmetic average across all three markets 2. Based on ANZ Brand Health Tracker study 2010, Hall & Partners 3. Based on ANZ Brand Campaign Tracking 2011, Hall & Partners 67

  49. Integration of acquired RBS businesses into ANZ was completed in October 2011 Completed complex integration Building a larger and more capable in 6 Asian markets bank on the integrated business Effective management of a complex Enhanced frontline integration • New frontline pricing tools • Enhanced channels • 6 markets • New risk & sales governance • 1.8 million customers • New call centres • 6,500 Staff • 54 Branches New Platforms • 4 different business segments: Retail & • New credit cards platforms Wealth, Private Bank, Commercial & Institutional • New core banking – Institutional/ Commercial • New general ledger Realising real value from acquisition • New payments platforms • ~USD$130m in Cost Saving projected over 4 • New risk feeds years from FY10 to FY13 • New regulatory reporting • Renegotiated/reviewed 3,500 supplier contracts Commercial presence & more scale to • Integrated new revenue platforms (across business Retail, Wealth and Private Bank) • Consolidated and built 3 new data centres • 1,200 new systems interfaces built • 6,200 standard desktops replaced / rebuilt • 800 standard servers replaced / rebuilt 68

  50. APEA Institutional: Executing to a clearly articulated strategy Revenues up 29% YoY as customer franchise Customer numbers continue to grow strengthens Institutional Asia Client Numbers 1 1,400 Targeting sectors aligned to global strengths and with +41% CAGR significant regional growth prospects 1,050 • Natural Resources • Agribusiness 750 550 • Infrastructure • Financial Institutions 350 Increasing geographic significance • APEA contributed 26% of Global Institutional revenue in FY07 FY08 FY09 FY10 FY11 FY11 • Asia revenues grew 38% FY11 Institutional Client revenue growing 2 • New Institutional branch builds in India and Middle East (AUD m) Building diversified product revenue with reduced reliance on Trading +47% CAGR • Significant growth in revenue in Trade Finance (51% YOY) 349 and Cash Management (59% YOY) • Ongoing investment in Transaction Banking cash platform 232 • Global Markets product expansion and platform 206 169 708 development 514 61 375 294 166 Growing client base and deepening relationships FY07 FY08 FY09 FY10 FY11 • Asia customers grew 33% FY11 • Maximising network flows with client revenues within APEA Other Client Revenue Market Sales up 40% 1. Excludes Commercial 69 2. Excludes markets trading and amortisation impact of annuity business

  51. APEA Retail: Growth in wealth driving business expansion in Asia Customer growth despite portfolio Substantial repositioning of Mass to repositioning Affluent / Emerging Affluent Customer Numbers („000s) +51% 2,500 • Revenue up 18% amidst repositioning and volatile market 2,450 conditions 1,100 • Growth in Wealth Management revenue contribution - up from 14% to 22% • Significant CTI improvement - 8% in Asia retail FY09 FY10 FY11 underlying, 2% overall pro forma • Channel expansion – mobile banking roll out in Fiji and Building Revenue (USDm) Taiwan +34% 930 786 347 Growing Signature Priority Banking 342 (SPB) proposition 290 • Presence in 10 markets (6 Asian markets and 4 markets in the Pacific) up from 6 in 2010 FY07 FY08 FY09 FY10 FY11 • Monthly SPB customer acquisition growth of 29% Pacific Asia Pro Forma Adjusted • Average product holding per customer increased by 14% Growing Funding Base USDb 14 Loans & Deposits 12 Expanded product suite 8 7 6 5 4 4 • Launched mortgage offering in Singapore, Taiwan and 3 2 Indonesia • Expansion in Wealth Management product offering - 400 FY07 FY08 FY09 FY10 FY11 mutual funds, 25 bancassurance products, 450 Exchange Net Loans & Advances Customer Deposits Traded Fund‟s 70

  52. 11 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 3 November 2011 Divisional Performance Institutional Division

  53. Institutional – executing to a clearly articulated strategy Institutional Division • Targeting sectors with existing strength and significant regional growth prospects Underlying Net profit after Tax ($m) • Natural Resources • Agriculture • Infrastructure 35% CAGR 1,895 1,778 • Increasing geographic diversification • APEA 26% of Institutional revenue FY11 (20% FY10) • Asia revenues grew 38% FY11 1,430 • Diversifying product range and reduced reliance on lending • Trade finance revenue up 29% YOY • FX revenues up 22% YOY • Cash management revenue up 13% YOY 771 • Grow client base and maintain strong relationships • Acquired 1,300 new relationships, growing client base 8% YOY • Asia Pacific client base grew 15% FY11 • Ranked first in terms of overall institutional relationships and lead bank relationships across Australia and New Zealand (combined across both markets as measured by Peter Lee Associates) FY08 FY09 FY10 FY11 • Improving risk profile of business • Net impaired assets down 27% YOY 72

  54. Institutional – Financial Performance Pro forma NPAT movement – FY11 v FY10 $m 47 484 1,895 186 1,733 120 82 309 284 Up 9% FY10 Net Other Markets Markets Sales Expenses Provisons Tax and FY11 Interest Income Trading OEI Ex-Global Markets Global Markets Pro forma NPAT movement – 2H11 v 1H11 $m 41 22 1,024 867 65 48 14 296 51 Down 15% 1H11 Net Other Markets Markets Sales Expenses Provisons Tax and 2H11 Interest Income Trading OEI Ex-Global Markets Global Markets 73

  55. Identified priority sectors where we have existing strengths to build upon Priority Sectors Priority Products Natural Resources Cash Management • In target sub-segments – minerals & mining, oil & • A leading provider of cash management and working capital solutions in Australia and NZ via gas, primary processing, primary services and ANZ Transactive, the first trans-tasman internet commodity trading. banking platform • Focused on capturing Australia/NZ – Asia/Pacific trade supply and demand chain flows. • Continued build and roll-out of Asian Cash Management capability across 11 countries • Lead bank to sector in Australia and growing Asia/Pacific franchise offering opportunity to assist both producers and consumers Trade • Provides trade finance and supply chain solutions to our customers that manage risk and liquidity and Agriculture support a deepening of customer relationships. • Clear emphasis on customers with flows into and • ANZ is the leading trade and supply chain bank in within the Asia Pacific region. Australia and NZ, delivering superior sales and • Focused on providing markets, working capital and service underpinned by a global proposition with supply chain solutions. teams on the ground in 28 countries. • A particular focus on cotton, coffee, cocoa, grains and oilseeds, sugar, dairy and protein. FX & Commodities • Building on our strong Australian and New Zealand Infrastructure Corporate businesses to expand into Asian • Target customers and investors operating in power currencies and clients & utilities, roads, rail, airports, ports, water, waste • Emphasis on building a high-frequency global flow and social infrastructure. and trading Corporate and Institutional business in • Primary focus is to support customers in the Asia four hubs, and on growing our business with Pacific region whilst remaining dominant in Financial Institutions (which account for ~90% of Australia and New Zealand. all global FX volumes) • Continue to position as infrastructure specialists. 74

  56. Benefits emerging through growth in priority sectors and products Institutional Division Growth has been achieved through: Client revenue growth FY11 vs FY10 • A global specialised relationship model offering industry expertise and a broader product proposition has seen priority sectors achieve superior growth Institutional Division 10% • Natural Resources - Asia revenues up ~40% with significant increases in Markets and Trade products • Agribusiness - Asian revenues up ~80%, again with significant increases in Markets and Trade products Natural Resources 18% • Infrastructure - predominantly growth in Australian revenue from large domestic infrastructure projects augmented by a lift in Asian revenue momentum. Agribusiness 14% • Trade – 29% revenue growth reflects continued increase in client relationships. ANZ maintains a leading position in the Australian and New Zealand Infrastructure 25% trade markets and growing presence in Asia which now represents over 50% of total trade revenue. • Over 85% of growth in our FX business occurred in APEA due to better penetration of our client Trade 29% base, product diversification and a focus on Financial Institutions clients • In Australia, our share of Australian FX turnover FX & Commodities 28% increased from 6.3% at the end of September to 11.8% in September (as measured by the RBA) • The only bank offering a trans-tasman cash Cash Management 13% management platform, with Singapore and Hong Kong to be added to system the by end of 2011 75

  57. More diverse, self funded loan growth Institutional Lending and Deposits Institutional Trade Lines Funded & Unfunded $b 50 39 Net Loans & Advances Customer Deposits 40 (incl. acceptances) 30 30 22 $13b Growth YOY $20b Growth YOY $b 20 117.4 120 10 97.7 0 91.2 100 Sep 09 Sep 10 Sep 11 78.7 79.8 75.6 Australia APEA New Zealand 80 Asia Funded Trade Lines $b 60 11 12 10 7 40 8 6 3 20 4 2 0 0 Sep 09 Sep 10 Sep 11 Sep 09 Sep 10 Sep 11 Sep 09 Sep 10 Sep 11 Australia APEA New Zealand 76

  58. Investment in the strategy Majority of FY11 cost growth relates to investment in de risking and supporting immediate and longer term growth initiatives 2,001 36 $m 130 • Back / middle office FTE • Risk management systems • Payments infrastructure • Productivity initiatives • Process automation 69 49 • Cash management 1,717 platform • Markets FX engine • Pricing tools • Salary CPI • Reduce Back / Middle Office FTE • Frontline FTE • Customer systems Markets sales, Relationship Managers • Markets technology FY10 Run the Strengthen Investing for Investing for FY11 Business the Business near-term longer-term results results 77

  59. Productivity focus evident in near term cost growth Institutional Operating Expenses Initiatives in train to maintain cost trajectory Growth Pro Forma HOH 9.7% Process automation and enhancement 6.3% 5.3% • Enhanced markets operations platforms and processes • Automation of data processing capabilities to reduce manual intervention -0.3% Increased utilisation of regional hubs 1H10 2H10 1H11 2H11 • Operations streams are now managed as global functions throughout Australia, New Zealand and Asia Institutional Operating Expenses Quarterly Trend $m Streamlining regional and global 550 enablement support 500 • Creating opportunities to share regional/functional resources and 450 infrastructure 400 • Aligning business and support structures to 350 future business requirements 300 250 200 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 78

  60. Improved credit quality Institutional risk grade profile Institutional net impaired assets by exposure at default by size and as % NLA $m % NLA 4,000 6.00% 3,500 5.00% 3,000 60% 63% 68% AAA-BBB 4.00% 2,500 BBB- BB+~BB- 2,000 3.00% BB- 1,500 2.00% 17% >BB- 17% 1,000 16% 12% 1.00% 11% 500 10% 5% 4% 3% 5% 5% 3% 0 0.00% Sep 09 Sep 10 Sep 11 Mar 09 Sep 09 Mar 10 Sep 10 Mar 11 Sep 11 Institutional net impaired assets % NLA (RHS) 79

  61. Diversification of client base and revenues Institutional client base Revenue mix 1 No. of Clients 8,000 7,464 6,924 6,382 19% 22% 26% 6,000 20% 18% 21% 4,000 24% 18% 11% 2,000 41% 39% 36% 0 2009 2010 2011 2009 2010 2011 Global Loans Markets Trading Markets Sales Transaction Banking Australia Asia Pacific Europe US NZ Other 1. Underlying basis 80

  62. Cash management business delivering connectivity Significant progress made in 2011 ANZ Transactive trans-tasman sites and usage • Connecting our customers‟ transaction banking needs Active $b across Australia and New Zealand is a key differentiator. Sites • Customers can perform a range of cash management 4,500 80 activities through a single internet channel: 4,000 70  Record number of multi-country Cash Management mandates won in 2011 3,500 60  Strong growth in the number of payment transactions processed in Asia via internet 3,000 50 channels 2,500 40 • Over 7,800 clients have been on-boarded to ANZ 2,000 Transactive to date: 30  3,923 clients on-boarded to ANZ Transactive 1,500 Trans-Tasman solution in Australia and New 20 Zealand 1,000  3,909 clients on-boarded to ANZ Transactive Asia 10 500 • We will continue to add functional enrichments, with the 0 0 planned rollout of the enhanced ANZ Transactive Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 platform to 11 key Asian markets: New Implementation  Singapore and Hong Kong enhancements to occur Migrated from ANZ Online in November 2011 Monthly Transaction Volume  Remaining 9 key Asian markets will be brought online by 2013 81

  63. Global Markets Performance Strategy to increase Global Markets revenue client flow revenues is delivering pro forma FX adjusted $m 2,500 • Revenue down 11% YOY and 31% HOH due to 2,011 difficult macro conditions in traded risk and balance 2,000 1,752 1,563 sheet management 1,500 • Trading and balance sheet related revenues were down 36% YOY and 70% HOH 1,000 • A strong Markets sales performance across all 500 geographies and products has partially offset lower trading revenues with sales revenues growing 13% 0 YOY FY09 FY10 FY11 • APEA sourced revenue was up 25% YOY driven by Sales Trading & Balance Sheet expansion of capabilities throughout the region Global Markets revenue QOQ • The FX business continued to expand in the second half 2011 with a 7% uplift in FX sales revenue HOH $m Sales Trading & Balance Sheet • The Commodities business doubled 2010 revenues 300 with strong trading and sales performance • Australian results were impacted by balance sheet 200 and trading revenues, including a widening of credit 100 spreads on the Australian liquidity portfolio 0 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 82

  64. Global Markets product offering Global Markets delivers innovative product solutions through specialist Global Markets revenue mix teams operating across the Asian region 6% • Interest rate risk hedging for clients 10% 10% • Pricing and risk management of credit Other Fixed Income instruments • Management of the bank‟s liquidity 30% portfolios and Trading of position risk 40% Global Capital 42% Markets • Foreign exchange risk management advice and products for clients Foreign Foreign Exchange • Commodity price risk advice and Exchange & Commodities management & • Commodity derivatives (eg. gold, soft Commodities commodities and energy) Fixed Income 57% 49% 43% • Origination and distribution of credit products • Corporate and Financial Institutions Global Capital sourced listed and unlisted Bonds Markets • Syndicated Loans FY09 FY10 FY11 • Securitisation 83

  65. Sales, trading and balance sheet revenue Global markets business focussed on client Global Markets revenue driven risk management and trading activity Also management of ANZ‟s own liquidity and composition (pro forma) balance sheet risk management • Direct client flow business on core products 16% 22% such as Fixed Income, FX, Commodities and 28% Debt Capital Markets (DCM) Sales • Continued growth in FY11 through continued Revenue 19% focus on client acquisition • Growth of client flows in APEA 33% 21% • Trading represents management of positions taken as part of direct client sales flow and strategic positions Trading • Trading in the rates and credit product, in Revenue line with balance sheet trading 65% • Difficult trading conditions particularly in Q4 51% with both domestic and global 45% macroeconomic volatility • Management of interest rate risk for the loan and deposit books • Management of the bank‟s liquidity position Balance Sheet Revenue • Impacted in Q4 by the widening of credit FY09 FY10 FY11 spreads on semi government bonds to swap Sales Trading Balance Sheet hedges with market movements taken at Fair Value through the Profit and Loss 84

  66. Global Capital Markets - becoming a leading Asia Pacific capital markets specialist Achieved a number of milestones in 2011 Corporate and frequent issuer bonds league table rankings • A number of first in offshore RMB/CNH market  Joint Lead Manager for First offshore bond for an Category Rank # Amount Australian bank Deals Arranged  Joint Lead Manager for First offshore bond for a Japanese corporate Australia (ex-self led) 1 57 AUD11.5b • Joint lead manager for ANZ's first syndicated loan for a Chinese sovereign entity New Zealand (ex-self led) 1 30 NZD2.0b • Completed ANZ's First Korean securitisation transaction SGD 3 11 SGD1.4b • Arranged the first syndicated loan by a foreign bank in Asia Pacific ex-Japan 8 102 USD12.2b Vietnam • Fastest execution of a secured bond transaction in Source – Bloomberg as at end 3Q11 Singapore Market YTD Loan syndications mandated arranger league table rankings Extended leading position in domestic markets • No. 1 bond issuer in Australia with 19% market share Category Rank # Amount YTD 2011 Deals Arranged • No. 1 bond issuer in New Zealand with 49% market USD share YTD 2011 Asia-Pac ex-Japan 1 182 $18.6b Deepened our presence in Asia Australia 1 81 $11.3b • Increased cross border deals across Asia with greater distribution into Europe and America Asia 10 77 $4.7b • Grew APEA GCM revenue 77% FY11 Source – Thompson Reuters as at end 3Q11 85

  67. 11 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 3 November 2011 Divisional Performance New Zealand Businesses

  68. New Zealand Businesses - simplification & efficiency Simplifying the business Profit before provisions 1 • Have simplified the management structure NZDm • Progressing with process and product simplification • Moving to one IT system 1,493 Improved customer and employee engagement 1,445 • Increasing customer satisfaction – up 3% YOY for both ANZ and NBNZ 1,326 • Improved staff engagement scores 1,317 • External recognition (awarded the two best banking brands New Zealand‟s Sunday Star -Times Canstar Cannex Bank of the Year Award) • Research indicates strong awareness of ANZ's sponsorship of the 2011 Rugby World Cup and increased overall ANZ brand awareness 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 FY08 FY09 FY10 FY11 • Risk focus – manage to the changed economic settings 87 1. FY08 Underlying; FY09-FY11 Pro Forma

  69. New Zealand Businesses – financial performance Pro forma Pro forma NPAT movement – FY11 v FY10 Growth Rates (NZD) NZDm 299 Revenue 904 24 149 585 147 5% 6 1% FY11 2H11 Up 55% Expenses 0% FY10 Net Other Expenses Provisons Tax and FY11 Interest Income OEI -2% FY11 2H11 Pro forma NPAT movement – 2H11 v 1H11 Profit before NZDm 6 14 Provisions 13% 3 453 451 2 2% 21 FY11 2H11 Flat Provisions 21% 1H11 Net Other Expenses Provisions Tax and 2H11 Interest Income OEI -58% FY11 2H11 88

  70. New Zealand Businesses - balance sheet management Net Interest Margin Retail 3.00% • Mortgages – have held share in the <80% LVR market and taken a more conservative 2.50% approach to growth in >80% LVR segment • Deposit strategy focussed on growing better 2.00% quality at call and savings accounts (up 15% YoY) 1.50% 1H09 2H09 1H10 2H10 1H11 2H11 • A disciplined approach to pricing on term deposits also achieved a margin improvement of 15-20bps on term deposit portfolio Net Loans & Advances Customer Deposits (incl. acceptances) NZDb Commercial 100 88.4 • Continued strong Dairy sector pay-outs driving 88.3 86.8 deleveraging in the Agri sector 80 • 1.4x system lending growth in Business Banking 60 51.1 50.2 48.3 • Continued working with customers to achieve more sustainable debt levels resulting in a 40 reduction in the level of impaired loans. 20 • A focus on credit quality has seen a reduction in Commercial and Agri net impaired assets of 26% HOH 0 Sep 10 Mar 11 Sep 11 Sep 10 Mar 11 Sep 11 Retail Commercial Wealth 89

  71. Simplification program progressing well with good progress made in 2011 • New regional management approach that simplifies decision making across all businesses New • Merged Commercial and Agri businesses to ensure an integrated focus Operating right across the agribusiness sector Model • Made Business Banking a stand alone business focussed on the needs of small business customers • Simplified product set (reducing retail products from 140 to under 100) Simpler • Over 380,000 customers migrated to end state products with minimal Product and negative feedback Fee Structure • Now easier for customers to transact across both the ANZ and NBNZ networks • Expenses down 2% YOY • Improved staff engagement • Increased levels of customer satisfaction A Stronger • Additional productivity gains available in 2012 and 2013 from move to a Business single platform • An FY11 after tax charge of NZD111m has been taken outside underlying earnings with respect to this programme 90

  72. Super Regional capabilities provide real differentiation Leveraging our Super Regional capabilities • Migrant Banking – on track to exceed 10,000 new customers through migrant banking channel this year • Wealth – migrant investor program targeting high net worth investors • First major New Zealand bank to have Chinese Renminbi (RMB) trade settlement deal capability • Set up first full payments and cash management implementation between ANZ New Zealand and ANZ China • Only New Zealand bank to structure Export Credit Agency funding, with over NZD200m of deals Investing to further strengthen capabilities • Now have 61 retail branches with dedicated Chinese and Indian specialists • Established multilingual call centre with Mandarin, Cantonese, Korean and Hindi capabilities • Asian specialist team in Private Bank business managing 1,200 clients and NZD2b in assets • Launched ANZ Transactive, the first trans-Tasman internet banking platform for Institutional and Commercial customers • Cross-border connectivity - established single points of contact (“Asia desk”) for intra -region customer referrals Providing leadership on New Zealand‟s growing opportunities with Asia • Partnerships with Education New Zealand and Ministry of Ethnic Affairs to support migrants • Supporting linkages with India through partnerships with the India business forum and joining the NZ Prime Minister's recent trade delegation to India • Business Banking China tour provided 25 delegates the opportunity to build connections in the Chinese market 91

  73. Retail & Wealth - simplifying our business to make banking easier for customers and staff Customer satisfaction at Simplification initiatives undertaken across historic highs 1 business • Re-engineering processes to allow frontline staff to 90% 90% 91% 89% spend more time with customers 85% 85% • Progressing optimisation of product portfolio with 140 products reduced to under 100 products to date • Opened new branches in key locations around Auckland Program already yielding results • Productivity gains from simplification drove flat cost 3Q09 3Q10 3Q11 growth FY11 and a 3% reduction in costs 2H11 ANZ NBNZ • Increased retail customer satisfaction to record levels OnePath KiwiSaver FUM • Contact Centre recognised as the best in financial services in NZ at the CFM Contact Centre Industry awards NZDm 2,500 Wealth position continues to strengthen 2,100 • OnePath #1 in the Retail Managed Funds market 1,700 • Awarded the Morningstar KiwiSaver Fund Manager of 1,300 the Year – KiwiSaver is NZ‟s primary retirement 900 savings initiative 500 • Divested non-core property businesses Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 • Insurance profitability improved – favourable claims experience and reduced lapse rates 1 Source: Nielsen Consumer Finance Monitor 92

  74. Commercial & Agri – unlocking value by bringing segments closer together Managing for a lower growth environment Lending Composition • Disciplined management of risk, balance sheet and expenses By Segment Enhanced customer focus • Unrivalled coverage, with customers having access to more Agri relationship managers in more locations than any other bank • Continued investment in frontline efficiency and training to 45% Commercial enhance relationship skills 49% • Customer satisfaction stable in a highly competitive UDC environment • Supporting customers through the economic cycle via customer forums and thought leadership, e.g. Viewpoint 6% papers; Economy in 5 courses; Better by Design partnership; Farming for Profitability sessions • Working with customers to assist them in achieving more Dairy Milk Payout/Price sustainable debt levels $ per kg Leveraging Super Regional connectivity 8.00 • By connecting customers to our Super regional network we are differentiating ourselves in the New Zealand market, examples 6.00 include: 4.00  Connecting a South Island Agri client to ANZ Indonesia who provided insights on the local market and assisted in 2.00 facilitating new trade into Indonesia 0.00  Linking a commercial client to ANZ teams in Fiji and Australia and assisting expansion into new markets 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011  Introducing wine production clients to the ANZ China team and help them commence distribution into the lucrative Chinese market. 93

  75. Business Banking – ANZ has a compelling growth proposition in Small Business Small Business a significant part Strong performance in FY11 of the NZ economy • Maintained #1 market share position • Customer satisfaction improved from 87% to 88% 1 90% of NZ businesses employ 5 or fewer staff 2 • Lending growth 1.4x system No employees • Staff engagement lifted from 60% to 70% • Profit improvement from increased revenue and 1-5 reduced costs 6-9 69% 21% 10-19 Increased coverage of small business customers • More Business Bankers in branches and in a greater 20+ number of locations • Small Business workshops – attended by 5,000 Good growth in both margin customers and volume • Launch of the ANZ Biz Hub, a market leading online 110 Index customer site supporting small business NIM Net Loans & Advances 1H10 • Assisted more than 4,500 customers in the last two =100 years with our business start-up package (providing business advice and a transactional account, fee-free 105 for one year) • High growth potential with low risk as majority of lending is mortgage based 100 1H10 2H10 1H11 2H11 1 Source: TNS Business Finance Monitor Sep 2011 2 Source: NZ Department of Statistics Feb 2010 94

  76. New Zealand Businesses - credit quality Total impaired assets Total provision charge NZDm NZDm 531 600 2.47% 351 400 2.25% 247 165 119 98 200 2.06% 2,215 1.92% 2,020 0 1,809 -200 1H09 2H09 1H10 2H10 1H11 2H11 1,718 IP Charge CP Charge 1.25% 90+ Days arrears Mortgages 1.20% 1,132 0.70% Commercial Rural 0.80% 631 0.40% Mar 09 Sep 09 Mar 10 Sep 10 Mar 11 Sep 11 0.00% Impaired Assets IA as % GLA 2007 2008 2009 2010 2011 95

  77. 11 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED Investor Discussion Pack Treasury

  78. ANZ well capitalised and positioned to transition to Basel III Basel II Basel III – Common Equity Tier 1 Basel II ~14.9% Proposed Basel III 7% minimum ~14.0% APRA fully including buffer Basel harmonised applicable from 12.1% 12.1% III # Jan-16 11.9% ~9.5% ~9.5% 10.9% 10.5% ~8.7% Common 10.1% ~7.4% Equity Tier 1 ~7.5% surplus ~7.0% over 7.0% Capital Buffer ~11.4% 2.5% 8.5% 8.5% 8.0% Minimum 4.5% minimum target 4.5% Sep-10 Mar-11 Sep-11 Common Equity Higher RWA Dividend 10%/15% RWA: IRRBB Sep-11 Basel III Sep-11 FSA Tier 1 Charges accrual threshold insur, & mortgage Full Int'nl Deduction (credit risk) * APRA Basel III assoc, DTA LGDs & other Alignment (Insur,banking, (inc. DTA on CP) assoc, ELvCP) & other items Common Equity Tier 1 Hybrids Tier-2 * Excludes Basel 2.5 Market & Securitisation Risks and any Basel 3 liquidity changes # Still subject to discussion paper feedback 97

  79. Solid organic capital generation continues to underpin the strong Common Equity Tier 1 position Capital Position (Common Equity Tier 1 Ratio) ~11.4% 2.13% ~9.5% (0.83%) 8.52% (0.43%) 8.05% (0.33%) (0.07%) Portfolio growth & mix 51bp decrease +15.8b Risk Migration 7bp increase -1.3b Portfolio data review 2bp increase -0.5b Non-credit RWA 1bp decrease +0.4b Net organic up 54bp Up 47bp Sep-10 NPAT Dividend/DRP RWA movement Other Investments Sep-11 Sep-11 Basel III Sep-11 FSA (1) (2) (3) (4) (5) (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‟ retained earnings, 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 (5) Ratios based on full Basel III international alignment. 98

  80. Tier 1 position strengthened significantly with recent CPS3 issuance and solid organic capital generation Capital Position (Tier 1 Ratio) ~14.0% 2.13% ~11.7% 10.94% 0.51% (0.83%) 10.10% (0.57%) (0.33%) (0.07%) Portfolio growth & mix 65bp decrease +15.8b Risk Migration 8bp increase -1.3b Portfolio data review 2bp increase -0.5b Non-credit RWA 2bp decrease +0.4b Net organic up 40bp Up 84bp Sep-10 NPAT Dividend/DRP RWA Other Investments Hybrids Sep-11 Sep-11 Basel Sep-11 FSA (1) (2) movement (4) III (3) (5) (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‟ retained earnings, 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 (5) Ratios based on full Basel III international alignment including 10% reduction in current portfolio of Tier 1 hybrids. 99

  81. Reconciliation of ANZ‟s capital position under Basel III ANZ capital ratios under a Basel III fully harmonised approach : Common Tier 1 Total Capital Equity Tier 1 APRA Sep-11 Basel II 8.5% 10.9% 12.1% Plus: dividend not provided for (net of DRP) 0.5% 0.5% 0.5% Less Investments in ADI and overseas equivalents -0.4% -0.4% 0.0% Less Investments in ANZ insurance subs including OnePath -0.4% -0.4% 0.0% Less Expected losses in excess of eligible provisions -0.2% -0.2% 0.0% Other -0.1% -0.1% -0.1% Less 10% reduction of existing hybrids and sub debt securities - -0.2% -0.4% Estimated increase in RWA 1 -0.4% -0.5% -0.6% APRA Sep-11 Basel III discussion paper 7.5% 9.6% 11.5% 10% allowance for investments in insurance subs and ADIs 0.8% 0.7% 0.6% up to 5% allowance for deferred tax asset 0.2% 0.2% 0.2% other capital items 0.2% 0.2% 0.3% Mortgage 20% LGD floor and other measures 0.6% 0.7% 0.7% IRRBB RWA (APRA Pillar 1 approach) 0.2% 0.3% 0.4% Sep-11 Basel III fully aligned 9.5% 11.7% 13.7% 1. Includes credit counterparty but excludes Basel 2.5 Market & Securitisation Risks and any Basel III Liquidity changes 100

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