#1ANNUAL GENERAL MEETING 2003 ANZ#2ANZ's 150th year in Queensland ANC ANZ Queen & Creek St Branch 19th century Queen & Creek St Branch 21st century Z#3Our staff are involved in local community programs 289 ONCORE MITWAY .HL. MANOR APARTMENT HOTEL ACCOMMODATION OVERNIGHT WEEKLY MONTHLY S SCREAMY MANOR X-RAY & SPECIALIST CENTRE Phone: 3211 1024 Ground MACARTHUR WO X-Ray & Spec Cardiac Sar Star D Star D Psyang SPATI OU Medical (Lower Ground F Mole Scanning Ge Staff volunteer their time to raise funds for the Starlight Foundation ANZ#4Queensland - an attractive place to do business ANZ#5ANNUAL GENERAL MEETING 2003 ANZ#6Four key matters ⚫Our performance and the key factors driving that performance •The acquisition of National Bank of New Zealand •Corporate Governance •The outlook for the year ahead ANZ#7Four key matters Performance and factors driving that performance •The acquisition of National Bank of New Zealand •Corporate Governance •The outlook for the year ahead ANZ#810 years of profit growth $m 2900 2400 1900 1400 900 803 Net Profit After Tax* 2348 2168 1870 1703 1480 1116 1171 1175 1033 400 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 * before abnormal items and significant transactions ANZ#9A portfolio of specialist businesses Full Year NPAT $m Institutional Financial Services Personal Banking & Wealth Mortgages Corporate Consumer Finance New Zealand Banking Asia Pacific Asset Finance Treasury NPAT increase NPAT decrease Prior period NPAT 0 200 400 600 ANZ 800#10Our cost to income ratio was 45.1% in 2003 70% 65% 60% 55% 50% 45% 40% 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 --> -ANZ NAB CBA - - WBC ANZ#11Ten years of dividend increases cents 100 90 80 70 64 60 56 52 48 50 42 40 33 30 25 20 10 0 73 85 85 95 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 ANZ#12Our progress is recognised by a number of measures Member of Dow Jones 04 Sustainability Indexes ANZ#13Consistent and focused decision making is delivering for shareholders 0 $b Market Capitalisation 30 25 20 15 10 50 5 cents Dividend 100 40 40 80 60 20 0 1995 2003 1995 2003 $ % Share Price Cost to Income 20 70 60 15 50 40 10 5 30 20 10 0 0 ANZ 1995 2003 1995 2003#14Total Shareholder Return 4500 4000 Value of $1,000 invested in January 1996 3500 3000 2500 2000 1500 1000 500 0 1996 1997 1998 1999 2000 2001 2002 2003 ANZ#15A better place to work % 100 90 80 70 Overall Staff Satisfaction 82 78 62 60 50 560 58 50 40 30 20 1999 2000 2001 2002 2003 ANZ#1681% of Personal Banking staff would recommend ANZ as a place to work % 100 90 81 80 70 65 60 50 40 35 30 20 10 0 2001 2002 2003 ANZ#17ANNUAL GENERAL MEETING 2003 ANZ#18Our customers are more satisfied 10 High levels of customer satisfaction for our Corporate Banking business 10 Customer satisfaction with branch increasing Personal Rural 9 11 2002 2003 9 8 7 6 5 8 7 6 5 4 4 ANZ Peer 1 Peer 2 Peer 3 Mar-02 Sep-02 Mar-03 Sep-03 ANZ *Score out of 10: Source - Roberts Research#19Determined to rebuild community trust AN NE ANZ Community Fund ▸ ANZ Volunteers Saver Plus ANZ#20Financial Literacy Kick-start your financial fitness Work out your money and get your finances into shape ANZ ANZ#21ANNUAL GENERAL MEETING 2003 ANZ#22Four key matters •Performance and factors driving that performance •The acquisition of National Bank of New Zealand •Corporate Governance •The outlook for the year ahead ANZ#23National Bank of New Zealand LELELELE Cashpoint ANZ The National Bank ANZ#24Rights issue Prospectus Renounceable Rights Issue Solder you should wead this document in its entirety be deciding water to a cort this offer of New Ordinary Shares in you abou what to die, you should consult your professional advise without dry. the Rights you receive prop if you decide not to accept all or part of your element, you are advised to deal with Topmon Monday, 24 November other than doing nothing, it is important that you take action to accept or sell your entitlement in accordance with the instructions in Section of this Prospectus Underwers and Joint Lead Managers Morgan Stanley Citigroup Morgan Stanley Dean Witter Australia Securities Led group Global Markets Australia Pty Limited The Renounceable Rights Issue is fully underwritten 2 for 11 Renounceable Rights Issue to Eligible Shareholders of ANZ of approximately 276.7 million New Ordinary Shares at an issue price of A$13 per New Ordinary Share to raise approximately A$3.597 million Australia and New Zealand Banking Group Limited AN 11005 357523 ANZ ANZ#25Four key matters •Performance and factors driving that performance •The acquisition of National Bank of New Zealand •Corporate Governance •The outlook for the year ahead ANZ#26ANNUAL GENERAL MEETING 2003 ANZ#27Four key matters •Performance and factors driving that performance •The acquisition of National Bank of New Zealand •Corporate Governance •The outlook for the year ahead ANZ#28World economy emerging from a period of weak growth 6 Annual % change World economic (GDP) growth 5 4 3 2 1 0 Forecast -1 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 Source: Economics@ANZ forecasts ANZ#29Central Banks are moving to less expansionary interest rates 7.0 % Official interest rates 6.5 6.0 5.5 5.0 4.5 4.0 2000 2001 Sources: RBA; RBNZ; Economics@ANZ New Zealand Australia 7.0 % Forecast - 6.5 2002 2003 2004 - 6.0 5.5 - 5.0 4.5 4.0 ZNY#30Economic growth Ann avg % ch 7 6 5 4 3 2 1 Ann avg % ch 7 6 Australia Forecast 5 4 3 2 1 New Zealand 0 -1 0 -1 -2 -2 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 ANZ Sources: ABS; Statistics NZ; Economics@ANZ