#12023 HALF YEAR RESULTS HALF YEAR ENDED 31 MARCH 2023 RESULTS PRESENTATION AND INVESTOR DISCUSSION PACK 5 MAY 2023 Approved for distribution by ANZ's Continuous Disclosure Committee ANZ Group Holdings Limited ABN 16 659 510 791 9/833 Collins Street Docklands Victoria 3008 Australia ANZ#2ANZ 2023 Half Year Results DISCLAIMER & IMPORTANT NOTICE The material in this presentation is general background information about ANZ's activities current as 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 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 may contain forward-looking statements or opinions including statements regarding our intent, belief or current expectations with respect to ANZ's business operations, market conditions, results of operations and financial condition, capital adequacy, specific provisions and risk management practices. When used in this presentation, the words 'forecast', 'estimate', 'project', 'intend', 'anticipate', 'believe', 'expect', 'may', 'probability', 'risk', 'will', 'seek', 'would', 'could', 'should' and similar expressions, as they relate to ANZ and its management, are intended to identify forward-looking statements or opinions. Those statements: are usually predictive in character; or may be affected by inaccurate assumptions or unknown risks and uncertainties; or may differ materially from results ultimately achieved. 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. ANZ does not undertake 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.#3ANZ 2023 Half Year Results CONTENTS Results Presentations Chief Executive Officer (CEO) Chief Financial Officer (CFO) Investor Discussion Pack 3 3 22 40 40 Corporate Overview 41 Environment, Social & Governance (ESG) 49 Group Performance 57 Divisional Performance 76 176 Treasury 97 Risk Management 109 Housing Portfolio 125 Shareholder Centre & Investor Relations Contacts 136#42023 HALF YEAR RESULTS SHAYNE ELLIOTT CHIEF EXECUTIVE OFFICER#5ANZ 2023 Half Year Results ANZ: THE BANK WE'RE BUILDING 'We are the Bank for those in Australia & New Zealand who want to buy and own a home or start, run, and grow a small business and for those larger businesses trading and investing in Asia Pacific' 'We work with the best partners to offer competitive and engaging solutions that make our customers' lives easier. We build loyalty by improving our customers' financial wellbeing and helping them run their businesses more sustainably' Giving our customers access to Propositions our customers love Purpose and values-led People 'We embrace a world of constant change, by building a nimble, resilient organisation capable of anticipating needs, creating opportunities, and delivering what matters, quickly and safely' Flexible digital banking Platforms Partnerships that unlock new value 4#6ANZ 2023 Half Year Results PERFORMANCE OVERVIEW Returns Return on Equity, % 11.4 10.8 10.0 Tangible Assets NTA / Share, $ 20.75 20.64 21.66 Capital Strength APRA Level 2 CET1 Ratio 1, % Risk Profile Internal Expected Loss², bps 11.5 12.3 13.2 20 19 17 1H22 2H22 1H23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 Basis: Cash Profit continuing operations 1. Australia & New Zealand Banking Group Limited 2. Internal Expected Loss (IEL) is an internal estimate of the average annualised loss likely to be incurred through a credit cycle 5#7ANZ 2023 Half Year Results 1H23 GROUP FINANCIAL RESULTS Statutory profit, $ million 1H23 vs 2H22 vs 1H22 3,547 -1% 0% Continuing operations Cash Profit, $ million 3,821 +12% +23% Return on equity, % 11.4% +60bps +140bps Earnings per share - basic, cents 127.6 +7% +16% Dividend per share - fully franked, cents 81 +7 cents +9 cents APRA Level 2 CET1 ratio, % 13.2 89bps NTA per share, $ 21.66 +91 cents 165bps +102 cents 10 6#8FOUR PRIORITIES ESTABLISHED 7 YEARS AGO ANZ 2023 Half Year Results 1. Creating a simpler, better balanced bank 2. Focusing on areas where we can win 3. Building a superior everyday experience to compete in the digital age 4. Driving a purpose and values led transformation N#9ANZ 2023 Half Year Results DIVISIONAL PERFORMANCE - 1H23 VS 1H22 (PCP) Cash continuing operations Aus. Retail Aus. Commercial² Institutional (1H23 vs 1H22) New Zealand (NZD) Total Group Capital allocated' ~30% ~10% ~40% ~20% Revenue +11% +30% +35% +14% +18% Expenses 0% +7% +4% -1% +4% Profit before Provisions +26% +50% +65% +25% +33% Cash NPAT +9% +22% +97% +13% +23% Net Loans & Advances +6% +4% +11% +3% +6% Customer Deposits +6% -3% +13% +0.5% +6% Record level based on half year earnings ($) and end of half balances for Net Loans & Advances and Customer Deposits ($)2,3 20 of the 25 metrics (excluding expenses) were at record levels this half Basis: Cash Profit continuing operations 1. Subset of total ANZ capital. Excludes capital in Group Centre, Pacific, Asia Partnerships, Non-banking Group & NOHC surplus capital 2. Excluding gain on sale of Merchants business divestment (Australia Commercial recognised a gain in 1H22 with ANZ and Worldline forming a newly created merchant acquiring group) and loss on sale of financial planning and advice business servicing the affluent customer segment (Australia Commercial recognised a loss in 1H22) 3. Across the period 1H17 to 1H23 based on reported comparable business unit structures 8 00#10ANZ 2023 Half Year Results AUSTRALIA RETAIL 1H23 vs 1H22 Customer Deposits, $b Net Loans and Advances, $b Housing portfolio LVR profile² Origination LVR 301 Revenue growth 290 285 6 100% 6 6 80% ↑ 11% 156 150 60% 147 40% 44 41 43 Risk adj. margins¹ 14 16 28 295 278 284 20% 0% 1H21 1H22 <80% 80% 1H23 >80% ↑ 45bps (to 6.43%) Dynamic LVR 99 100% 66 65 55 61 80% 60% 40% 26 26 23 20% 0% Mar 22 Transact Savings Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 Mar 22 Term Deposits Offset Home Loans 0-60% Sep 22 81-100% Mar 23 Cards, Personal Loans & Other 61-80% >100% Loan to Valuation Ratio (LVR). Based on portfolio balances, including Non Performing Loans and capitalised LMI premiums. Excludes offset balances, accounts with a security guarantee and unknown DLVR. Valuations updated to Feb 23 where available Basis: Cash Profit continuing operations 1. Net interest income as a percentage of average credit risk weighted assets 2. 0#11ANZ 2023 Half Year Results AUSTRALIA RETAIL - ANZ PLUS 1. 2. ANZ Plus customers and deposits, cumulative Customers, '000s 300 250 200 150 100 50 A more digital and efficient experience, Mar 23 Digitally verified¹ Deposits, $b 72% 6 5 ANZ 90% ANZ Plus Onboarding effort² -9x ANZ ANZ Plus 4 Onboarding NPS score Customers with a Savings Goal 52 27% 2 1 28 ANZ ANZ Plus A diverse range of customers Total customers by age group, Mar 23 8% ANZ ANZ Plus 0 Apr May Jun Jul Aug Sep Oct Nov Dec Jan 22 22 22 22 22 22 22 22 22 23 Feb Mar Apr 23 23 23 Up to age 25 26-35 36-50 25% 26% 25% 51+ 24% Customers (LHS) Total deposits (RHS) Customers eligible for electronic verification and completed their KYC / Total customers successfully electronically verified. Based on total customers joining ANZ Plus in 1H23 Estimated human effort attributable in branch to deposit sales vs coach effort in ANZ Plus for deposit sales 10#12ANZ 2023 Half Year Results ANZ PLUS ENGAGEMENT AND OPERATIONAL METRICS More attractive, more engaging, more efficient, more secure How we measure success, Mar 23 (Growth Mar 23 vs Sep 22) Average balance per customer +51% +52 Onboarding NPS episode +16% % customers contributing to save +7% +46 Coach NPS episode BB 9:41 c Everyday Savings Everyday Funds $1,866.92 +21% Spending (30 days) $2,638.61 Last 30 Days Money In & Out % customers with direct debit set up +50% % customers with salary deposit +32% 0 Upcoming Next 30 days $496.27 Today +$1,739.90 $146.50 Officeworks Shopping $133.00 % Transactions using PayID +10% Marginal cost of service per customer' -46% 7-Eleven $13.50 Money Payments Card Support 1. Contact centre, Coaching 11#13ANZ 2023 Half Year Results AUSTRALIA COMMERCIAL 1H23 vs 1H22 Revenue contribution¹, $b Self funded balance sheet, $b ~25% contribution to Group revenue Revenue growth¹ 2.56 113 2.34 ↑ 30% 2.19 0.75 0.74 86 0.80 Risk adj. margins² ↑272bps 1.81 (to 8.37%) 1.60 1.39 1H22 2H22 1H23 Commercial Division revenue 58 Mar 19 Customer Deposits 60 00 Well secured portfolio, Exposure at Default, $b 8% 14% 11% 14% 81% 72% Mar 23 Mar 19 Mar 23 Fully Secured Other Customer revenue in Institutional / Retail Net Loans & Advances Partially Secured Basis: Cash Profit continuing operations 1. Excluding gain on sale of Merchants business divestment (Australia Commercial recognised a gain in 1H22 with ANZ and Worldline forming a newly created merchant acquiring group) and loss on sale of financial planning and advice business servicing the affluent customer segment (Australia Commercial recognised a loss in 1H22) 2. Net interest income as a percentage of average credit risk weighted assets 12#14ANZ 2023 Half Year Results INSTITUTIONAL 1H23 vs 1H22 Revenue², $b Credit RWA, $b 3.05 164 172 Lending risk adj. margins 1,3, bps 175 250 150 Revenue growth ↑ 35% 2.61 2.33 200 150 47% 100 Mar 22 52% 55% Risk adj. margins¹ Sep 22 Mar 23 Mar 233 1H22 2H22 1H23 excl. capital reforms4 ↑ 86bps Customer Deposits, $b Lending risk adj. margin excl. capital reforms4 Lending risk adj. margin Deposit margins5, bps 278 (to 2.94%) 53% 247 263 100 75 48% 45% 50 25 0 1H22 2H22 1H23 Mar 22 Sep 22 Mar 23 1H22 2H22 1H23 Lending Non Lending Basis: Cash Profit continuing operations 1. 2. Net interest income as a percentage of average credit risk weighted assets. Excludes Markets Business Unit Lending includes Corporate Finance & Trade, Non Lending includes Payments & Cash Management and Market Customer Franchise 3. Corporate Finance and Trade & Supply Chain lending margin 4. Excluding the impacts of APRA Capital Reforms (effective date of 1 January 2023) 5. Payments & Cash Management deposit margin 13#15ANZ 2023 Half Year Results INSTITUTIONAL - PAYMENTS & CURRENCY PROCESSING Payments, #m 171 161 148 +9% 321 295 NPP1 Agency payments, #m Platform Cash Mgt Accounts², #'000s Markets FX, Turnover volume 4 8 +31% 15 20 20 76 52 231 Index 1H19-100 +32% +14% 411 156 137 312 113 108 100 <1 1H19 1H20 1H21 1H22 1H23 1H19 1H20 1H21 1H22 1H23 1H19 1H20 1H21 1H22 1H23 1H19 1H20 1H21 1H22 1H23 1. New Payments Platform. Subset of total payments 2. Number of Australian virtual client monies accounts 14#16ANZ 2023 Half Year Results NEW ZEALAND¹ 1H23 vs 1H22 (NZD) Customer Deposits, NZDb Net Loans and Advances, NZDb Market share and ranking³ Revenue growth #1 #2 #1 #1 129 128 125 ↑ 14% 30.1% 104 104 105 26 24 25 34 38 42 Risk adj. margins² ↑ 53bps 22 22 22 102 103 103 (to 6.16%) 48 44 41 24.8% 21.8% 19.3% Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 Transact Savings Term Deposits Personal Business Housing Business Agri Funds lending lending lending Mgt (KiwiSaver) 1. New Zealand Division 2. Basis: Cash Profit continuing operations Net interest income as a percentage of average credit risk weighted assets 3. Source: RBNZ, market share at as at Mar 23, Funds Mgt (KiwiSaver FUM) as at Dec 22 15#17ANZ 2023 Half Year Results THE WORLD IS BEING SHAPED BY MAJOR TRENDS Major trends Challenges arising . Greater demands on government, more government debt • • Resilient corporate balance sheets • Heightened community expectations of business and government Government fiscal prioritisation Changing political structures • Funding requirements (energy transition, infrastructure, defense) • More complex domestic and global politics Advances in technology and the advent of Al • Competition for resources keeping asset prices and inflation high • Rapid changes to workforce composition Intergenerational wealth transfers · Higher interest rates for longer • Acceleration of climate change, biodiversity and sustainability • • Ageing population · • Housing affordability Hyper connectivity leads to faster and amplified reactions to events 16#18ANZ 2023 Half Year Results ECONOMIC CONDITIONS - "EXCESS AGGREGATE DEMAND" Inflation Employment to population ratio Capacity utilisation Household consumption per person Job ads as a share of the labour force Terms of Trade Business conditions Inflation expectations Home lending as a share of disposable income Wage Price Index House prices as a share of disposable income Consumer confidence Current reading (annual ave) Min -5 Max -4 -3 -2 -1 0 1 2 3 4 5 <-Below long run average Above long run average -> Presents each data series relative to its own long run average Deviation from z-score 17#19ANZ 2023 Half Year Results IMPROVING THE AVAILABILITY AND AFFORDABILITY OF HOMES >$4.4b funded and facilitated to deliver more affordable, accessible and sustainable homes to buy and rent since 2018 in Australia & New Zealand Our commitment is to deliver $10 billion by 2030 AUSTRALIA Assemble - Homes for change End-to-end 'build-to-rent' BTR developer and operations manager Building "build-to-rent-to-own" and secure social and affordable "build-to-rent" apartments in suburbs where this type of housing is needed most FOR THE PLANET AND THE POCKET ANZ Good Energy Home Loan NEW ZEALAND Good Energy Home Loan Supported 4,800 households with over NZD200m in new lending (as of 30 April 2023), since launch in 2022 Blueprint to Build Supported over 8,000 customers build a new home through the provision of NZD4.5b of discounted lending 18#20ANZ 2023 Half Year Results CONTINUED PROACTIVE PORTFOLIO REBALANCING 1. Run for performance Institutional Capital allocation across ANZ divisions¹ New Zealand Retail & Commercial Subset of total ANZ capital. Excludes capital in Group Centre, Pacific, Asia Partnerships, Non-banking Group & NOHC surplus capital Transform for long term differentiation & growth Australia Retail Australia Commercial 19#21ANZ 2023 Half Year Results GROUP STRATEGIC ACHIEVEMENTS Group 1. Suncorp acquisition on track 2. NOHC structure approved by shareholders and in place 3. Employee engagement score increased to 87% Institutional 1. Further capital efficiency, footprint, productivity actions 2. Sustainability strategy on track New Zealand 1. BS11 project delivered & submitted to RBNZ Australia Retail & Australia Commercial 1. ANZ Plus reached 259k in customers & $6.1b in FUM¹ 2. ANZ Plus Home Loan moved to Beta testing 3. Relevant Australian Home Loan share maintained 4. Cashrewards Active Members increased 31% HoH, Gross Merchandise Value increased 34% HoH 5. Acquired 13% of View Media Group 6. Appointed new Group Executive Australia Commercial 7. Go-Biz expanded, 60% HoH growth in drawn lending 1. As at 3 May 2023 20#22POSITIONING FOR LONG TERM SUCCESS ANZ 2023 Half Year Results PREPARING for a successful approval & integration of Suncorp Bank INVESTING further in the differentiation of our Australia Retail business on the lower cost, more flexible, ANZ Plus platform GROWING Commercial Banking Sustainable Finance Payments & currency platforms in Institutional Selective growth in Aus. & New Zealand home loans MAINTAINING risk disciplines & continuing to recycle capital to improve risk adjusted returns INCREASING focus on productivity while protecting our culture & employee engagement 21 21#232023 HALF YEAR RESULTS FARHAN FARUQUI CHIEF FINANCIAL OFFICER#24ANZ 2023 Half Year Results OVERVIEW - DELIVERING VALUE THROUGH DIVERSIFICATION 1. Strong financial performance • All 4 businesses contributing to revenue growth Revenue contribution by division1, $b • Revenue uplift from volume and margin • Solid cost outcome, further productivity benefits Considered risk management • Substantial reshaping and de-risking 1.78 New Zealand 1.73 1.60 . Net release in Individual Provisions • Increase in Collective Provision coverage 3.44 Institutional 2.79 2.56 Capital & funding strength • 100bps CET1 uplift from capital reform 1.81 Aus. Commercial 1.60 • Well diversified deposit base across geographies 1.39 ~80% of FY23 term wholesale funding target completed 2.98 3.17 3.30 Aus. Retail Strong execution • Record half year profit Clean results, little impact from one-off items 1H22 2H22 1H23 Excluding Pacific, Group Centre, gain on sale of Merchants business divestment (Australia Commercial recognised a gain in 1H22 with ANZ and Worldline forming a newly created merchant acquiring group) and loss on sale of financial planning and advice business servicing the affluent customer segment (Australia Commercial recognised a loss in 1H22) 23#25ANZ 2023 Half Year Results 1H23 FINANCIAL PERFORMANCE Operating income, $m Operating expenses, $m Profit before provisions, $m +10% +4% 10,528 9,599 4,791 4,788 4,997 8,948 4,811 4,157 1H22 2H22 Cash NPAT, $m 3,402 3,113 1H22 2H22 Basis: Cash profit continuing operations +18% 1H23 1H22 2H22 +4% 1H23 1H22 2H22 +15% 5,531 +33% 1H23 Cash EPS, cents 135 cents adj. Return on Equity, % for Suncorp capital raising +12% 11.9% adj. for Suncorp capital raising +7% +60bps 3,821 128 119 11.4 110 +23% 10.8 10.0 +16% +140 bps 1H23 1H22 2H22 1H23 1H22 2H22 1H23 24#26ANZ 2023 Half Year Results OPERATING INCOME Total operating income, $m 301 9,599 555 394 ↑ 10% Income growth, 1H23 vs 2H22 23% 10,528 -321 13% 4% Aus. Retail Aus. Comm Institutional Risk adjusted margins 1,2, % 6.18 6.28 6.43 1% NZ (NZD) 8.06 8.37 7.05 Aus. Retail Aus. Comm 2.78 2.94 6.30 6.47 6.16 2.40 2H22 Volume¹ Margin¹ Markets income Other operating income¹ 1H23 Institutional NZ (NZD) 2H22 1H23 excl. capital reforms³ 1H23 Basis: Cash profit continuing operations 1. Excluding Markets Business Unit 2. Net interest income as a % of average Credit Risk Weighted Assets 3. Excluding the impacts of APRA Capital Reforms (effective date of 1 January 2023) 25#27ANZ 2023 Half Year Results VOLUMES Net loans & advances, $b Total Group ↑ 3% Mar 23 vs Sep 22 Customer deposits, $b Total Group ↑ 5% Mar 23 vs Sep 22 Basis: Cash Profit continuing operations +4% 284.6 290.3 300.6 +1% excluding Asset Finance reductions (0% +1% 207.2 208.3 188.2 57.6 59.7 59.9 Australia Retail Australia Commercial Mar 22 Sep 22 Mar 23 0% 125.2 128.6 128.4 Institutional New Zealand (NZD) +6% +4% 247.2 262.5 278.1 +1% 147.0 150.0 156.4 116.4 112.2 113.0 0% 104.1 104.4 104.6 Australia Retail Australia Commercial Institutional New Zealand (NZD) Mar 22 Sep 22 Mar 23 26#28ANZ 2023 Half Year Results 1H23 NET INTEREST MARGIN (NIM) - CUSTOMER DEPOSITS Customer deposit portfolio contribution to 1H23 NIM (excl. replicating balances)1, $b 535 571 Term Deposits 44% 37% Group NIM movement contributions in 1H232 Term Deposits +2bps AUD Non- AUD Business Business At-Call Deposits Non- AUD AUD At-Call 35% +10bps 32% Deposits Retail Retail At-Call Non- At-Call Deposits 28% 24% Deposits +8bps AUD AUD Sep 22 Mar 23 Basis: Cash Profit continuing operations 1. End of period balances. Excludes deposits from Banks 2. Classification of Business At-Call and Retail At-Call are based on internal segmentation. Basis point (bps) change refers to impact on 1H23 Group NIM relative to 2H22 Total Group +20bps Non- AUD AUD 22 27#29ANZ 2023 Half Year Results 1H23 NET INTEREST MARGIN (NIM) - MOVEMENT Group NIM, bps 168 -9 20 Aus housing -6 NZ housing -2 Other -1 Aus Retail +6 NZ Retail +2 Corp/Inst. +12 -3 2H22 Asset pricing Deposit pricing and wholesale funding Asset and funding mix Basis: Cash Profit continuing operations 7 183 -2 Capital and replicating portfolio -6 Higher funding costs relating to revenue recorded in Other Operating Income. Overall accretive ROE 175 1H23 before Liquidity and Markets activities Liquidity Markets activities 1H23 28#30ANZ 2023 Half Year Results NET INTEREST MARGIN (NIM) & RISK ADJUSTED MARGIN Indexed data, FY16 = 100 115 110 105 100 95 00 90 85 80 Risk Adjusted Margin excl. Markets¹ 1H23: 65bps above FY16, mainly reflects the benefits from ongoing portfolio de-risking and risk management discipline Group NIM excl. Markets¹ - Group NIM 1H23:31bps below FY16 75 FY16 FY17 FY18 FY19 FY20 FY21 FY22 1H23 1H23 excl. Capital Reforms² Group NIM excl. Markets¹ Risk Adjusted Margin excl. Markets¹ - O - Group NIM incl. Markets 1. Markets Business Unit 2. Excluding the impacts of APRA Capital Reforms (effective date of 1 January 2023) 29#31ANZ 2023 Half Year Results MARKETS INCOME Total Markets income, $m 1,149 36 I 1,013 26 356 812 755 223 206 I I I Customer franchise income, $m I 757 112 678 590 103 309 575 80 32 53 49 53 30 158 111 | 195 181 757 I 678 590 575 Λ | I | I I I 381 407 324 331 | I | -1 1H22 -26 2H22 I I 1H23 I I Half Year avg 1H22 2H22 1H23 Half Year avg (1H19 to 1H23) (1H19 to 1H23) Customer franchise Balance sheet Derivative Val/n adj. FX Rates Commodities Credit & Capital Markets Basis: Cash Profit continuing operations 30#32ANZ 2023 Half Year Results MARKETS FRANCHISE INCOME BY GEOGRAPHY Total Markets Franchise income, $m 700 604 592 554. 901 891 617 590 575. 478 757 International, $m 608 315 249. -223 nullut 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Average excluding FY20 Australia & PNG, $m 275 245 240 222 238 345 -235 526 431 312 323 275 178 ~60% of 1H23 Markets Franchise income 431 audiant 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Average excluding FY20 New Zealand, $m -282 135 137 234 110 110 115 111 207. 212 215 224 103 .92_ 93 101 169 -83 71 minha 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Average excluding FY20 mitan 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Average excluding FY20 31#33ANZ 2023 Half Year Results OPERATING EXPENSES Total operating expenses, $m 30 4,818 4,788 3.7% 131 231 1.8% 91 4,997 4,906 -274 2H22 FX 2H22 FX Adj. Inflation1 Digitisation Productivity & 1H23 before the impact of M&A activity Impacts of M&A actvity & NOHC³ 1H23 & NOHC regulatory investment reprioritisation This page may contain forward-looking statements or opinions. Please refer to ANZ's Disclaimer and Important Notice with respect to such statements on page 1 Basis: Cash Profit continuing operations 1. Includes revaluation of leave provisions 2. Includes Cloud run & ANZ Plus run costs 3. Includes Suncorp Integration costs, NOHC establishment costs & costs previously attributed to discontinued operations FY23 expense expectations It remains likely that total expenses will increase by circa 5% in FY23 (off FY22 base of $9.17b) on a constant currency basis Adjusting for FX movements in the half the equivalent cost base is $9.22b 32 32#34ANZ 2023 Half Year Results PROVISION CHARGE Composition of Individual Provision (IP) charge / (release), $m Collective provision (CP) movement, $m 626 1H23 CP charge 163 395 807 187 24 ས་ 3,853 500 69 87 375 -8 -30 266 247 168 201 175 93 80 103 54 51 36 -214 -274 -280 -268 -227 -300 -267 -17 100 80 80 4,040 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Sep 22 FX Portfolio changes Economic Additional Mar 23 forecast & overlays New IP scenario 1H22 2H22 1H23 Increased IP IP charge 87 -8 -30 CP charge -371 60 163 Writebacks & Recoveries Total charge -284 52 133 Basis: Cash Profit continuing operations weights 33#35ANZ 2023 Half Year Results PROVISION BALANCE Collective Provision balance, $m Expected Credit Loss (ECL) scenarios, $m 7,314 4,040 3,853 Additional 817 727 overlays Scenario 1,407 1,376 & weights 100% Base case 1,750 1,816 1,816 1,315 3,272 Probability weighting 0% 45% 40% 15% Sep 22 Mar 23 100% upside 100% 100% base case downside 100% severe Australia peak impact of economic scenarios¹ Base case Downside Severe Unemployment 4.4% 6.9% 10.5% Peak next 2 years Residential -16% -23% -45% Property prices Peak to trough drop² GDP 1.2% -1.1% -2.8% Lowest over 3 years Basis: Cash Profit continuing operations 1. 2. The Downside Scenario is specified in terms of an index of economic stress. The economic variables shown represent a characterisation of the scenario to facilitate comparison Peak based on June 2022 quarter 34#36ANZ 2023 Half Year Results CREDIT QUALITY Individual Provision Charge / Avg. Gross Loans & Advances¹, % 0.35 0.30 0.25 0.20 0.15 0.10 0.05 0.00 -0.05 FY16 FY17 FY18 FY19 FY20 FY21 FY22 1H23 ANZ Peer 1 Peer 2 Peer 3 - -- ANZ 1H23 1. Source: Full Year loss rate data sourced from publicly available company financials Substantially reshaped our portfolio since 2016 . Sold or exited >30 businesses • Grown in "lower loss" portfolios: • Sovereign Mortgage Bank • Investment grade corporates • Decreasing exposure to "higher loss" portfolios and segments: • . Reduced exposure to non- investment grade corporates while increasing collateral Reduced / restricted exposures to unsecured retail, unsecured small business, third party asset finance 35#37ANZ 2023 Half Year Results CAPITAL APRA Level 2 CET1 ratio, % 0.88 12.29 1.00 -0.28 13.18 -0.47 -0.06 -0.18 0.06 12.10 -1.14 Sep 22 Capital Reform¹ Cash Profit Underlying RWA usage FY22 final dividend NOHC surplus capital Other Mar 23 Suncorp Bank acq/n NOHC surplus capital Mar 23 pro forma 1. Capital Reform impacts includes $28.5b Credit Risk Weighted Assets decrease and $6.0b Operational Risk Weighted Assets decrease 36#38ANZ 2023 Half Year Results CAPITAL APRA CET1 capital ratio - Basel III Capital Reforms Unquestionably strong Equivalent to 5.8% reduction in RWA At reporting date 11.25% +75bps Regulatory min. 11.0% 75bps Prior unquestionably strong 10.5% 1. As noted in ANZ's First Quarter 2023 chart pack released on 9 February 2023 Capital I ANZ position 7.6% reduction in RWA +100bps 16bps Op RWA¹ 71bps Credit RWA: Institutional 13bps ANZ RWA changes Credit RWA: Australia Retail, Australia Commercial, New Zealand 37 32#39ANZ 2023 Half Year Results CAPITAL, LIQUIDITY & FUNDING 1. 2. 3. Capital, APRA CET1 ratio, Mar 23 Funding Wholesale funding Deposit diversification NSFR 13.2% ~12.1% ~12.3% $26b Liquidity HQLA LCR 100% 119% $285b 128% Aus. 24% 100% Retail Aus. 17% Comm. NZ/ 16% Pacific Instit. excluding 23% Markets Level 2 Level 2 pro forma¹ Level 1 pro forma¹ 1H23 issuance² Markets 20% Mar 23 Mar 23 Pro forma for the acquisition of Suncorp and NOHC surplus capital Includes EUR1.5b ($2.4b) Covered Bond issued on 28 March 2023 and settled on 4 April 2023 Short dated. As at 31 March 2023 ANZ holds an additional $5.6b securities not eligible for HQLA classification, for which the majority are short dated and/or floating rate Cash 182 100% MtM & FVOCI securities Amortised cost 101 securities³ 1H23 avg. Mar 23 38#40ANZ 2023 Half Year Results CFO FOCUS TO SUPPORT GROUP PRIORITIES Manage capital Net interest margin & Risk adjusted margin Indexed data, FY16 = 100 allocation dynamically 115 110 Continue to relentlessly 105 pursue productivity 100 benefits Prioritise investment in our core strategic initiatives 95 90 85 55 80 60 Individual Provision Charge / Avg. GLA³, % 0.35 0.30 0.25 0.20 0.15 0.10 0.05 0.00 Continue to maintain a 75 FY16 -0.05 strong balance sheet FY17 FY18 FY19 FY20 FY21 Group NIM excl. Markets¹ FY22 1H23 1H23 FY16 FY17 FY18 FY19 FY20 FY21 FY22 1H23 excl. and capital position Capital ANZ Peer 2 - ANZ 1H23 Risk Adjusted Margin excl. Markets¹ Reforms² Peer 1 Peer 3 - Group NIM incl. Markets 1. Markets Business Unit 2. Excluding the impacts of APRA Capital Reforms (effective date of 1 January 2023) 3. Source: Full Year loss rate data sourced from publicly available company financials 39#412023 HALF YEAR RESULTS INVESTOR DISCUSSION PACK Note on reconciliation between the Consolidated Financial Report Dividend Announcement and Appendix 4E, Results Presentation and the Results Presentation & Investor Discussion Pack: During the September 2022 half, the Group revised its treatment of ongoing trail commission payable to mortgage brokers to recognise a liability within Payables and other liabilities equal to the present value of expected future trail commission payments and a corresponding increase in capitalised brokerage costs in Net loans and advances. This increase in balance is not reflected in the Investor Discussion Pack Housing portfolio and associated charts. The presentation of divisional results has been impacted by the following structural changes during the period. Comparative amounts for the prior two halves have been restated to reflect the below structural changes: Business Restructure - the non-banking businesses held in the Australia Commercial and Institutional divisions were transferred to the Group Centre division. As a result of this transfer, Group Centre division holds all interests in the ANZ Non- Bank Group. • • Corporate customer re-segmentation - certain business and property finance customers were transferred from the New Zealand division to the Institutional division to better align customer needs with the right support and expertise delivery. Cost reallocations - certain costs were reallocated across the Australia Retail, Australia Commercial, Institutional and Group Centre divisions. Note on rounding: Sum of parts within charts and commentary may not equal totals due to rounding#422023 HALF YEAR RESULTS INVESTOR DISCUSSION PACK CORPORATE OVERVIEW#43OUR PURPOSE & STRATEGY ANZ 2023 Half Year Results Our purpose is to shape a world where people and communities thrive It explains 'why' we exist and drives everything we do at ANZ, including the choices we make each day about those we serve and how we operate. We bring our purpose to life through our strategy; to improve the financial wellbeing and sustainability of customers through excellent services, tools and insights that engage and retain them, and help positively change their behaviour. Through our purpose we have elevated areas facing significant societal challenges aligned with our strategy and our reach which include commitments to: Improving the financial wellbeing of our people, customers and communities by helping them make the most of their money throughout their lives; Supporting household, business and financial practices that improve environmental sustainability; Improving the availability of suitable and affordable housing options for all Australians and New Zealanders In particular, we want to help customers: Save for, buy and own a liveable home Start or buy and sustainably grow their business + ে Move capital and goods around the region and sustainably grow their business 23 42#44ANZ 2023 Half Year Results THE BANK WE'RE BUILDING Eight goals aligned with our business model 1. We support a higher share of customers in our target segments 2. Our customers have greater financial wellbeing over their lifetime, and implement more sustainable business practices than others 3. Our customers are more engaged, more loyal and avail themselves of more of the right products and services than those banking with peers 4. We serve our customers more efficiently and our systems are safer and more reliable 5. We attract and retain more of the people with the skills required to reinvent banking, in line with our purpose and culture 6. We generate stronger long-term financial results than our peers, which is reflected in our valuation 7. Our reputation with customers, community, potential employees and regulators is better, both absolutely and relative to (domestic) competitors (existing and emerging) 8. Our practices and services provide more opportunity for the community and we have supported and improved positive economic development and transition Value Creation Model Better access to capital and talent, driving greater capacity to invest Better financial outcomes Better acquisition & retention, higher share of target customers Better customer propositions: 'purposeful', engaging, efficient and 'safe' Customers will have better financial wellbeing, more sustainable practices and generate higher life-time value for shareholders Better data, risk decisions and pricing Better financial wellbeing & sustainability outcomes More engaged workforce Higher customer engagement, greater use of our products and services 43 33#45ANZ 2023 Half Year Results ANZ PLUS - TAILORED TO CUSTOMERS' NEEDS Delivering better propositions... ANZ Plus customer propositions A mobile-first, human supported distribution model and lower cost of operations Better technology to enable fast, resilient and responsive change ...with targeted features customers love 9:41 Everyday Savings Total Saved $18,622.38 $123.45 interest earned in total Savings Jar Rainy Day $3,672.38 $2,250.00 Home Deposit + $12,700.00 Add a Savings Goal A purpose- driven, customer centric culture Today ☐ 阿 Money Payments Card Support Transact & Save features already driving customer engagement: Know where my money is going: Expense Insights & Prediction | see regular expenses, before they occur Multi Goal Savings | save for up to 99 goals with one account Personal Insights | see I am Spending Less than I Earn, where my money goes, and more Ditch my wallet | start using my digital card immediately Safe & secure | Advanced biometric security, dynamic CVV and more 44#46ANZ 2023 Half Year Results ANZ PLUS HOME LOANS BETA LAUNCHED IN DECEMBER Leveraging ~70% reusable business services with a focus on process automation ANZPlus reusable cloud-based technology stack is delivering 0 $18,622.38 $3,072.38 $2250.00 Home Deposit Ray Day ~70% of business services built for Save & Transact proposition have been reused for ANZ Plus Home Loans including: Enabling focused build on the Home Loans proposition and beta release Home Loans MVP to launch in 2023 Congratulations! You're approved to refinance $525,387 Video00 Dy Continue to Settement Speck to Coach Identity and access management • Customer relationship management tool • Banking Services platform, includes self-service tools Automated credit decisioning Customer coach assisted servicing Customer data services Implemented 10 new business services and 4 new platforms supporting the Home Loans beta launch in Dec2022 • New loan origination and management platform including statement of position Automated loan documentation generation Highly automated loan settlement Automated processes throughout the Home Loan journey with intervention by exception Application Easy to use digital application form, including pre populated data 8 Credit Assessment Automated credit decisioning and fast determination of property market value Settlement Highly automated loan documentation and settlement रही 2025+ 2024 2023 Home Loans BETA released Dec 22 Home Loans MVP to launch in 2023 Scale existing Home Loans propositions and roll out Credit Cards, Personal Loans 45#47ANZ 2023 Half Year Results ANZ PLUS - MORE EFFICIENTLY DRIVE HIGHER CUSTOMER GROWTH, GREATER ENGAGEMENT AND BETTER FINANCIAL HEALTH How we measure success More attractive Greater propensity to join Brand consideration Relative app store rating # New customers # ANZ customers migrated More engaging Higher customer lifetime value Risk adj. revenue per customer Key episode NPS Average balances per customer % customers actively contributing to a savings goal More Lower cost to efficient onboard, serve and engage % Main Bank customers % customers ahead on Home Loan % customers making and receiving payments regularly # Interactions per customer Velocity of new features and capabilities released Marginal cost to acquire and join per customer % customers saving for a home % customers with a Home Loan Marginal cost of service (contact centre, coaching) per customer Average product management cost per customer % customers with data sharing consent Customer financial wellbeing score Retention of active customers Customers per Plus FTE More More resilient → Complaints per customer secure systems and services Fraud losses per customer % Transactions using PayID System downtime 46 46#48ANZ 2023 Half Year Results BUILDING | INVESTING | PARTNERING 1835i As ANZ's external innovation and venture capital partner, 1835i creates and invests in businesses that are aligned with the Bank's strategy and that can drive value for ANZ, its customers and partners aider.O Valiant weel BUSINESSES OWNERS Al-based business intelligence platform for SMBS Business loan marketplace Virtual business card and expense management platform HOME OWNERS ही Airwallex bud. ✓ DataCo DataMesh™ Slyp INNOVATING FINANCIAL SERVICES Global financial infrastructure Open Banking infrastructure layer Data collaboration platform Payments software and data analytics Interactive smart receipts technology Alendi Leading online home loan origination platform ONETWO M PROPPS Digital home loans FINANCIAL WELLBEING Digital real estate offer management platform CASHREWARDS™ CURVE Leading cashback platform Financial super app and digital wallet aggregator 47 47#49ANZ 2023 Half Year Results INVESTING IN SUSTAINABILITY Where we support our customers 1. 2. 23 3. Electrifying the transportation value chain Supporting sustainability in resource extraction, basic materials & new technologies Accelerating companies transitioning from 'brown' to 'green' Enabling transition towards lower emissions buildings Sustainable Bond League Tables Aus. Sustainable Bond Cumulative League Table¹ ANZ Sustainable Finance deals³ Bookrunner Period Volume No. of deals Market share (Ranking on Market share) Number of deals (in period) Number of deals (cumulative) ANZ (#1) $11.4b 51 15.1% FY18 8 Closest peer (#2) $8.2b 51 10.9% FY19 26 34 Assisting sustainable food, beverage NZ Sustainable Bond Cumulative League Table² FY20 39 73 & agriculture Bookrunner (Ranking on Market share) Volume No. of deals Market share FY21 81 154 practices and Offering Environmental supply chains Sustainability ANZ (#1) $7.9b 49 30.8% FY22 127 281 solutions/partnering with ES focused Fls Closest peer (#2) $7.0b 39 27.2% 1H23 56 337 All issuers, Includes all sustainable bonds issued in the Australian markets by local and international issuers. 1 Jan 2014 to 2023 YTD. Source: KangaNews 24 April 2023 All issuers, Includes all sustainable bonds issued in the New Zealand markets by local and international issuers. 1 Jan 2014 to 2023 YTD. Source: Kanga News 18 March 2023 Number of labelled Sustainable Finance deals, including bonds & loans, that ANZ has participated in. Data is unaudited 48#502023 HALF YEAR RESULTS INVESTOR DISCUSSION PACK ENVIRONMENT, SOCIAL & GOVERNANCE (ESG)#51ANZ 2023 Half Year Results ACCELERATING OUR APPROACH FOR THE TRANSITION TO NET ZERO New social and environmental sustainability target • By 2030 $100b On 1 April 2023, we commenced a new $100 billion by 2030 social and environmental sustainability target to improve social and environmental outcomes for our customers, including initiatives that help lower carbon emissions, increase access to affordable housing and promote financial wellbeing. This will be periodically reviewed and revised to ensure it continues to match our ambition. Progress against our sectoral decarbonisation targets • We were the first Australian bank to join the Net- Zero Banking Alliance (NZBA) in 2021 and set emissions pathways and targets - for power generation and large-scale commercial real estate. In November 2022, we announced four additional sectoral pathways and targets in oil & gas, aluminium, cement and steel. • We are on track to set 2030 targets for a total of nine priority sectors aimed at ensuring at least 75% of our portfolio emissions are on a net zero pathway by the end of 2024. ⚫ Our direct exposure to thermal coal mining has reduced by ~82% since 2015; our exposure is now less than 0.02% of Group exposure at default (EAD). We are on track to exit all direct lending to thermal coal mining well ahead of our 2030 target. We will use these pathways to steer our lending decisions in line with the Paris Agreement goals. We expect the transition is likely to be uneven - and there will be challenges in some sectors more than others. Our Climate Change Commitment • Our pathways set our strategy and course out to net zero by 2050 and use credible decarbonisation scenarios, allowing us to: Determine how each sector is performing against a Paris-aligned path Better pinpoint and manage customers that may be more exposed to transition risks; and help them to capture the growing opportunities that come with the transition Assess the speed and extent to which we are transitioning our exposure to key sectors Provide transparency about how our financing is aligned with climate scenarios We will reduce our exposure to our largest emitting business customers that, after significant engagement, have not improved their transition plans by 2025. 1. Excluding some residual exposures to rehabilitation bonds as per our policy 50#52ANZ 2023 Half Year Results FINANCE TO BACK CUSTOMERS ON THE RIGHT PATH Targets set for six carbon intensive sectors in line with our Net-Zero Banking Alliance commitments (as at 30 September 2022) Power generation GHG' Intensity (kg CO₂/MWh) Commercial Real Estate - Office Buildings GHG1 Intensity (kg CO2-e/m²NLA (Net Lettable Area)) Commercial Real Estate - Shopping Centres GHG1 Intensity (kg CO₂-e/m²NLA (Net Lettable Area)) 500 400 300 200 100 ANZ vs. target pathway 80- + 47% 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Actual Performance IEA Net Zero Emissions by 2050 Pathway 2030 Target (-50%) >10% above the pathway <10% above pathway Below pathway 60- - . 40- 20- 10 80 ANZ vs. target pathway - 26% 0 2020 2025 2030 2035 2040 2045 2050 Actual Performance 2030 Target (-60%) IEA Beyond 2°C Scenario (B2DS) Alignment Pathway 1. Greenhouse gas emissions (GHG) For detail regarding how targets have been set and calculated refer to ANZ's Financed Emissions Methodology available at anz.com/esgreport 40 20 о ANZ vs. target pathway - 12% 2020 2025 2030 2035 2040 2045 2050 Actual Performance 2030 Target (-60%) IEA Beyond 2°C Scenario (B2DS) Alignment Pathway 51#53ANZ 2023 Half Year Results FINANCE TO BACK CUSTOMERS ON THE RIGHT PATH Targets set for six carbon intensive sectors in line with our Net-Zero Banking Alliance commitments (as at 30 September 2022) Oil and Gas Absolute Emissions (Mt CO2-e) Aluminium GHG1 Intensity (tCO2-e/t aluminium) 18 16 14 12 10- 8 6 4 2 0 2020 2025 2030 2035 2040 2045 2050 Cement GHG1 Intensity (tCO2-e/t cement) 0.7 ANZ vs. target pathway +7% 12 Actual Performance -- IEA Net Zero Emissions 2050 Pathway -- - 2030 Target (-26%) 10 8 6 4 2 ANZ vs. target pathway -4.8% -Actual Performance - International Aluminium Institute 1.5 pathway 2030 Target (-30%) • Global average International Aluminium Institute 1.5 pathway 0 2020 2025 2030 2035 2040 2045 2050 Steel GHG Intensity (tCO2-e/t steel) 2.5 ANZ vs. target pathway -2.5% 2.0 ANZ vs. target pathway +5.9% Actual Performance -- IEA Net Zero Emissions 2050 Pathway 2030 Target (-28%) World Steel 2020 average emissions intensity 0.6 0.5 1.5 0.4 - 0.3- 1.0 -- - 0.2 Actual Performance 0.5 0.1 -- IEA Net Zero Emissions 2050 Pathway 2030 Target (-20%) 0.0 0.0 • Global average IEA tracking report 22 2020 2025 2030 2035 2040 2045 2050 2020 2025 2030 2035 2040 2045 2050 >10% above the pathway <10% above pathway Below pathway 1. Greenhouse gas emissions (GHG) For detail regarding how targets have been set and calculated refer to ANZ's Financed Emissions Methodology available at anz.com/esgreport 52#54ANZ 2023 Half Year Results OUR RESOURCES PORTFOLIO Resources Portfolio, EAD¹ $b 20.0 1.7 0.6 17.3 17.0 1.3 16.2 0.8 0.5 15.3 0.7 0.8 1.2 1.0 0.9 14.5 2.9 0.4 0.7 14.0 1.1 0.7 1.5 1.2 0.2 0.8 13.0 0.5 12.9 0.9 1.0 0.3 1.7 0.4 0.3 1.0 1.2 0.6 1.0 0.6 4.9 1.4 1.2 0.6 5.2 5.4 0.9 1.0 4.0 4.4 4.9 3.5 3.9 4.8 8.6 8.2 8.2 7.8 7.4 7.0 7.0 5.9 5.6 Sep 15 Sep 16 Sep 17 Sep 18 Sep 19 Sep 20 Sep 21 Sep 22 Mar 23 Thermal Coal Mining Metallurgical Coal Mining Other Mining Services to Mining Metal Ore Mining Oil & Gas Extraction Thermal Coal Mining, EAD¹ $b 2.0 1.5 1.0 0.5 0.0 Sep Sep Sep Sep Mar Sep Mar Sep Mar Sep Mar Sep Mar 15 16 17 18 19 19 20 20 21 21 22 22 23 Since 2015 our exposure to thermal coal mining has reduced by ~82% ANZ's exposure to thermal coal mining is a small portion of our overall lending (now comprising <0.02% of Group EAD) Movements in Oil and Gas and Thermal Coal Mining exposures Some of the movements in our exposures this half can be attributed to APRA's capital reforms², which changes the factors applied to loan amounts used to determine our EAD. The result is that we are required to hold more capital for certain types of lending and other banking facilities, and less for others. The impact on two sectors is outlined below: • Our thermal coal mining exposure³ increased this half, almost entirely related to the impact of the capital reforms. The majority of our exposures to the thermal coal mining sector are made up of mining rehabilitation guarantees, which requires increased capital under the reforms. The increase was not due to new lending to the sector. Our upstream oil and gas exposures decreased, driven by the capital reforms, lower lending balances, and decreases in trade and markets exposures during the half. 1. Exposure at Default 2. 3. APRA release minor amendments to capital frameworks for ADIs: https://www.apra.gov.au/news-and-publications/apra-releases-minor-amendments-to-capital-framework-for-adis This exposure is to the ANZSIC code 1102, ie those customers for whom thermal coal mining is their predominant activity. It does not include other thermal coal mining exposure to diversified miners, which will be captured under other ANZSIC codes 53#55ANZ 2023 Half Year Results CUSTOMER ENGAGEMENT TO SUPPORT EMISSIONS REDUCTIONS 100 of our largest emitting business customers (progress at 30 September) We have been discussing transition plans with 100 of our largest emitting business customers since 2018 and broadened this to our customers efforts to protect biodiversity in 2022. In FY22 we engaged with 99 of our largest emitting business customers. 61% of these customers now have well developed or advanced transition plans versus 42% as at the end of FY21. Overall good progress is being made, with 29 customers upgraded since FY21. Our largest emitting business customers produced more than 147 million tonnes of direct (Scope 1) CO2 emissions during 2020-21 for their Australian-based operations. This is around 30% of the national total for Australia. We expect our new target of $100b by 2030 will further assist our largest emitting customers to invest in emissions reduction. We will continue to prioritise support for customers who are committed to improving their plans. This support will also focus on customers in the C and D categories. We are seeking improved plans from these businesses by 2025 and will increase our engagement to encourage further progress. While we will aim to support C and D category customers to improve, if significant engagement doesn't see positive momentum we will reduce our exposure. 100 of our largest emitting business customers by transition plan category 15 (as at 30 September)1 27 23 A A-ADVANCED 38 36 27 22 B C C- UNDERDEVELOPED/STARTING OUT D-NO PUBLIC PLANS Sep 2021 Sep 2022 B-WELL DEVELOPED 22 22 11 1. We replaced six customers in 2022 due to exits or significantly reduced exposures, or due to mergers and acquisition activities. Replacements on this list are typically from a similar sector, located in the same country or region, a similar level of exposure and emissions and at a similar stage of their transition planning 54#56ANZ 2023 Half Year Results SNAPSHOT OF HALF YEAR ESG TARGET PERFORMANCE ESG target Environmental Sustainability Fund and facilitate at least AU$50 billion by 2025 towards sustainable solutions for our customers, including initiatives that help improve environmental sustainability, support disaster resilience, increase access to affordable housing and promote financial wellbeing. Progress Since October 2019, we have funded and facilitated AU$47.09 billion to support sustainable solutions for our customers. We were forecast to reach our target of A$50 billion well in advance of 2025. That is why on 1 April 2023 we commenced a new social and environmental sustainability target, committing to fund and facilitate at least A$100 billion (FY23-FY30) towards improving social and environmental outcomes for our customers. Relevant SDGs 1 HUSET Mi 8 ND WILL B 13 H 14 Мон 15 и 4 DUEMO 10 6 EILALT 11 Ex 12 REAGEE 16 PENGE, DE 13 TIERS ORTELS Engage with 100 of our largest emitting business customers to encourage them to, by end 2024: ⚫ strengthen their low carbon transition plans so that more customers achieve a 'well developed' or 'advanced' rating; and ⚫ enhance their efforts to protect biodiversity. Financial Wellbeing Establish seven new partnerships to expand the reach and improve impact of MoneyMinded, our adult financial education program, by 2023 Have 30% or more of ANZ Plus Save customers set a savings goal by end 2023. We continue to engage with 100 of our largest emitting business customers, encouraging them to strengthen their low carbon transition plans and enhance their efforts to protect biodiversity. We have established nine new MoneyMinded partnerships since October 2020, including two in New Zealand and seven in Asia Pacific. These partnerships have enabled us to deliver MoneyMinded to more lower income people across the countries in which we operate to help improve their financial wellbeing. 27% (64,414) ANZ Plus customers have set up a savings goal since October 2022. Our ESG targets support all 17 United Nations Sustainable Development Goals (SDGs) 12 15 13 DECENT WORK AND 1 POVERTY ECONOMIC GROWTH REDUCED PARTNERSHIPS 10 INEQUALITIES FOR THE GOALS € 10 INEQUALITIES Note: This information has not been independently assured. KPMG will provide assurance over ANZ's full year performance against targets in its annual ESG reporting to be released in November 2023. See our 2022 ESG Supplement for the complete suite of FY22 ESG targets and details on full year performance 55#57ANZ 2023 Half Year Results SNAPSHOT OF HALF YEAR ESG TARGET PERFORMANCE (CONT.) ESG target Housing Fund and facilitate AU$10 billion of investment by 2030 to deliver more affordable, accessible and sustainable homes to buy and rent. (Australia / New Zealand). Progress Since October 2018, we have funded and facilitated over AU$4.4 billion to support the delivery of more affordable, accessible and sustainable homes to buy and rent. Housing pipeline and run rate remain on track, however current market conditions in the broader property sector have resulted in no further transactions being closed in the half year. Relevant SDGs QINDUSTRY INNOVATION ANDINFRASTRUCTURE USTAINABLE CES 11 COMMUNITIES Fair and Responsible Banking Achieve the 17 actions in our Reconciliation Action Plan, by end 2024 (Australia) We continue to make good progress against the 17 actions outlined in our RAP and have met all commitments that were due for completion to date. 1 VERTY REDUCED 10 INEQUALITIES € DECENT WORK AND BENEMIC GROWTH M PARTNERSHIPS FOR THE GOALS Our ESG targets support all 17 United Nations Sustainable Development Goals (SDGs) Note: This information has not been independently assured. KPMG will provide assurance over ANZ's full year performance against targets in its annual ESG reporting to be released in November 2023. See our 2022 ESG Supplement for the complete suite of FY22 ESG targets and details on full year performance 56#582023 HALF YEAR RESULTS INVESTOR DISCUSSION PACK GROUP PERFORMANCE#59ANZ 2023 Half Year Results SHAREHOLDER RETURNS Dividend Per Share (DPS), cents 160 146 142 80 72 74 1.11 80 60 35 25 70 Share price, $ 28.5 2019 28.2 22.8 22.9 17.2 2020 2021 2022 1H23 Share price close (last trading day in September of the financial year) Share price close (last trading day in March of the financial year) 9.2% -36.9% Total shareholder returns¹ 70.7% -14.0% 3.6% Dividend Payout Ratio (DPOR)², % 86 81 65 72 67 64 65 65 54 43 64 49 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Interim Final First half Second half 1. As reported 2. Basis: Cash Profit 58#60ANZ 2023 Half Year Results BALANCE SHEET COMPOSITION Exposure at default¹, EOP $b Risk weighted assets, EOP $b Net loans & advances, EOP $b Customer deposits, EOP $b 690 1,193 455 649 672 1,152 438 2% 0% 436 651 611 620 1% 0% 1,103 8% 2% 7% 4% 1% 1% 1% 13% 17% 15% 8% 14% 17% 15% 12% 12% 16% 18% 16% 14% 30% 31% 46% 29% 43% 45% 40% 42% 45% 42% 45% 43% 12% 6% 6% 6% 12% 11% 9% 9% 9% 44% 43% 44% 29% 29% 29% 27% 28% 27% Mar 22 Sep 22 Mar 23 Australia Retail Australia Commercial Basis: Cash Profit continuing operations 1. Mar 22 Sep 22 Mar 23 Institutional New Zealand Other 19% 18% 17% 24% 24% 24% Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 EAD excludes amounts for 'Securitisation' and 'Other Assets' Basel classes, as per APS330. Data provided is on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral 59#61ANZ 2023 Half Year Results NET LOANS AND ADVANCES Australia Retail, $b Australia Commercial, $b New Zealand, NZDb Institutional, $b +4% 0% 0% +1% 301 60 285 290 58 6 2. 8+ 60 129 128 207 208 1. 125 6 6 -1 188 26 25 41 41 24 18 20 20 20 34 ·1- 2 1 295 278 284 145 149 136 100 101 102 39 39 39 19 21 19 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 Cards, Personal Loans & Other Home Loans Central Functions Specialist Business Business Markets Other Personal SME Banking Home Loans Corporate Finance Transaction Banking Basis: Cash Profit continuing operations 60 00#62ANZ 2023 Half Year Results CUSTOMER DEPOSITS Australia Retail, $b Australia Commercial, $b New Zealand, NZDb Institutional, $b +4% 0% +1% 156 116 104 104 105 150 147 112 113 263 +6% 278 1- 247 -2 19 21 -2 44 27 43 34 41 38 42 106 128 102 14 16 28 66 65 62 62 40 67 61 57 555 222 222 22 22 38 29 46 48 44 41 114 117 103 30 30 29 26 26 23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 Transact Term Deposits Transact Term Deposits Savings Offset Savings Transact Savings Term Deposits Payments & Cash Mgmt Term Deposits¹ Markets Other Basis: Cash Profit continuing operations 1. Excl. Markets Business Unit 19 61#63ANZ 2023 Half Year Results CUSTOMER DEPOSITS - RETAIL & COMMERCIAL LONG TERM TREND Australia Retail, $b Australia Commercial, $b New Zealand, NZDb 156 116 150 147 111 112 113 104 104 105 141 107 97 97 99 134 135 16% 101 92 28% 19% 19% 24% 88 89 123 121 28% 29% 90 23% 117 27% 86 87 25% 27% 26% 23% 22% 23% 29% 10% 11% 18% 32% 12% 35% 33% 33% 37% 40% 36% 42% 47% 50% 51% 18% 15% 21% 24% 26% 58% 56% 54% 50% 53% 52% 45% 43% 44% 40% 52% 42% 43% 51% 49% 43% 41% 39% 21% 21% 21% 21% 21% 20% 19% 20% 19% 12% 13% 13% 15% 15% 17% 17% 17% 14% Mar Sep Mar Sep Mar Sep Mar Sep Mar 19 19 20 20 21 21 22 22 23 46% 46% 43% 42% 39% 38% 24% 25% 26% 27% 26% 34% 30% 30% 22% 16% 17% 19% Mar Sep Mar Sep Mar Sep Mar Sep Mar 19 19 20 20 21 21 22 22 23 Mar Sep Mar Sep Mar Sep Mar Sep Mar 19 19 20 20 21 21 22 22 23 Transact Savings Basis: Cash Profit continuing operations Term Deposits Offset Transact Savings Term Deposits Transact Savings Term Deposits 62 2#64ANZ 2023 Half Year Results FINANCIAL PERFORMANCE $m 3,402 929 -209 -81 3,821 -220 2H22 NPAT Revenue Expenses Provisions Tax & NCI 1H23 NPAT Cash continuing +10% Performance excluding large/notable items +11% +4% +5% +156% +16% +12% +156% +17% +13% Large / notable items included customer remediation, restructuring, transaction related costs¹, property rationalisation & business divestments / closures Basis: Cash Profit continuing operations 1. Associated with establishing the new group organisational structure and the pending Suncorp Bank acquisition 63#65ANZ 2023 Half Year Results TOTAL OPERATING INCOME Total income, $b Net interest income, $b Other operating income, $b 10.5 8.5 2.0 0.2 0.2 0.1 9.6 7.8 1.8 1.8 0.0 8.9 0.3 1.8 0.1 7.1 1.6 0.1 0.1 0.2 0.1 1.7 1.5 0.4 0.3 1.6 1.4 0.9 3.4 21 2.1 1.9 2.8 2.6 1.8 1.0 1.6 10 1.0 1.4 1.8 1.6 1.2 1.6 3.0 3.2 3.3 2.7 2.8 3.0 0.5 0.4 1.0 1H22 2H22 1H23 1H22 2H22 1H23 1H22 2H22 1H23 Australia Retail Institutional Other Australia Commercial New Zealand Australia Retail Australia Commercial Institutional New Zealand Other Markets Other Fee & comm. Share of associates' profit /(loss) Basis: Cash Profit continuing operations 64#66ANZ 2023 Half Year Results REPORTED GROUP NET INTEREST MARGIN TREND1 Group NIM, bps 240 220 200 180 160 140 120 100 86 80 220 60 40 20 Outlook considerations • Tailwinds Higher capital & replicated deposit earnings Potential for further rate tightening across geographies • 0 • 1H122H121H132H13 1H142H141H152H15 1H162H161H172H171H182H181H192H19 1H202H20 1H212H21 1H222H22 1H23 Flat or declining AUD Official Cash Rate throughout this time period Basis: Cash Profit continuing operations 1. Group Net Interest Margin for each Half Year as reported in the original Results Announcement for each financial period Headwinds Lending & deposit competition Deposit mix changes Higher wholesale funding costs 65#67ANZ 2023 Half Year Results THE RECENT TRAJECTORY ON NIM IS NOT UNIFORM ACROSS THE GROUP Quarterly Net Interest Margin trends - Group ex Markets and Treasury Diversified portfolio of businesses and access to opportunities in overseas markets offers a degree of relative margin stability outside of Australia Regional View, bps Avg 1H23 AIEA1, $b NZ $136b Aus $401b Rest of world $67b 3Q22 4Q22 1Q23 2Q23 3Q22 Rest of world Australia New Zealand Divisional View, bps 4Q22 1Q23 2Q23 Aus Retail Institutional ex-Markets Aus Comm. NZ Division Avg 1H23 AIEA1, $b Aus Comm. 2 $61b NZ Division $119b Institutional ex- Markets $169b Aus Retail $254b 1. AIEA: Average interest earning assets 2. Australia Commercial division generates positive net interest income from surplus deposits held. Accordingly, $59.5b of average deposits for the March 2023 quarter (Dec 22 quarter: $59.1b; Sep 22 quarter: $61.3b; Jun 22 quarter: $64.3b) have been included within average net interest earning assets for the net interest margin calculation to align with internal management reporting view. AIEA of $61b presented above represents lending assets only 66 99#68ANZ 2023 Half Year Results ONGOING MARGIN TAILWINDS FROM OUR CAPITAL AND REPLICATED PORTFOLIO Portfolio balance, $b Portfolio interest earning rates impact³ Illustrative potential NII benefit 142 141 134 Sensitive to short 30 37 24 term interest rates¹ 0.2% 3.8% 2.4% Mar 22 monthly earning rate Sep 22 monthly earning rate Mar 23 monthly earning rate Further benefits are dependent on future central bank rate decisions and portfolio volume growth Prospective benefit from higher interest earning rates Relative to the prior period FY23 (vs FY22) 2H23 (vs 1H23) Additional NII earned ~+$1.3b ~+$0.2b 105 111 110 Sensitive to longer term interest rates² 1.3% 1.5% 1.7% Mar 22 Sep 22 Mar 23 Mar 22 monthly Sep 22 monthly earning rate earning rate Mar 23 monthly earning rate Further benefits of higher current term interest rates will be seen progressively as maturities are gradually reinvested over next 5 years. Step-up is non-linear s page may contain forward-looking statements or opinions. Please refer to ANZ's Disclaimer and Important Notice with respect to such statements on page 1 Overnight to 3 month interest rates This 1. 2. Primarily 3-to-5-year term interest rates 3. Mar 22, Sep 22 and Mar 23 month rates denote actual portfolio monthly earnings rate achieved Delta on Group NIM ~+13bps ~+5bps FY23 benefits of ~$1.3b (of which ~$0.55b was realised in 1H23 and ~$0.75b is expected to be realised in 2H23) is ~$0.2bn lower than the FY23 estimate as at FY22 results. This is due to lower term rates and reduced volume 4. 2H23 illustration highlights the potential impact on NII assuming current longer term reinvestment rates are maintained, and shorter-term interest rates follow the path currently forecast by ANZ Research (as at 2nd May 2023). Rate timing and magnitude outlined on page 68. It also assumes stable FX rates and importantly that the 2H23 portfolio remains at current levels in terms of absolute volumes, regions and mix. It should be noted that the portfolio volume reduced during 1H23 and this a simplified analysis does not take into account further volume changes which may be expected over the next Half Year 67 410#69ANZ 2023 Half Year Results INTEREST RATE SENSITIVITY Illustrative path & magnitude of movements Short term interest rate outlook - based on ANZ research forecasts¹ Interest Rate Forecasts (%) Jun 23 Sep 23 Dec 23 Mar 24 Jun 24 Sep 24 Dec 24 RBA Cash Rate 3.85 4.10 4.10 4.10 4.10 4.10 3.85 NZ OCR 5.50 5.50 5.50 5.50 5.50 5.25 4.75 US Fed Funds Rate² 5.50 5.50 5.50 5.25 5.00 4.75 4.50 Current term interest rates earned on reinvestment of maturing capital and replicating portfolio tranches Term Interest Rates¹ (%) AUD 5 year NZD 3 year NZD 5 year USD 1 year 1. Effective as at 2nd May 2023 2. For the US, the rate is the ceiling of Fed Fund's corridor Current 3.59 4.67 4.31 4.74 68#70ANZ 2023 Half Year Results OTHER OPERATING INCOME Total other operating income (excluding Markets), $m 1,452 1,358 53 1,360 272 75 136 166 72 168 1,040 48 Includes seasonality 66 165 103 43 impacts & 101 74 reduced income from businesses divested 998 953 897 869 Net fee & commission income (excluding Markets), $m 953 890 84 11 199 213 Lower cards income & funds management fees 298 266 161 153 226 243 Higher guarantee fees in Transaction Banking and higher deal activities in Corporate Finance Higher commercial card fee income Higher cards revenue and new home loan offset account fees 2H21 1H22 2H22 -49 1H23 1H22 =-4=-7- 1H23 Net fee and commission income Share of associates profit FX earnings Other Large / Notable items Aus. Retail Aus. Commercial Institutional New Zealand Basis: Cash Profit continuing operations 1. 1H22 largely the result of divested business impacts Pacific & Other Large / Notable items¹ 69#71ANZ 2023 Half Year Results OPERATING EXPENSES Total operating expenses, $m 131 231 30 4,788 4,818 2H22 +1.8% 3.7% 91 4,997 4,906 -274 FX 2H22 FX Adj. Inflation¹ Digitisation² Productivity & regulatory investment reprioritisation 1H23 before the impact of M&A activity & NOHC Impacts of M&A actvity & NOHC³ 1H23 1H23 productivity & regulatory investment reprioritisation Evolving customer acquisition & distribution models Optimised customer servicing & transaction processing Technology modernisation Property & enablement simplification Investment rationalisation/re-prioritisation Continued investment in digital channels; reduced physical presence Further automated & simplified back office; increased customer self-service Reviewed and updated network & software contracts; simplified infrastructure Reduced corporate footprint; ongoing changes to Operating Model Reduced regulatory driven investment Basis: Cash Profit continuing operations 1. Includes revaluation of leave provisions 2. Includes Cloud run & ANZ Plus run costs 3. Includes Suncorp Integration costs, NOHC establishment costs & costs previously attributed to discontinued operations 70 0#72ANZ 2023 Half Year Results OPERATING EXPENSES Investment Spend Composition, 1H23 Continued spend on ANZ Plus & Cloud, reduced spend on Regulatory & Compliance following the completion of some key initiatives 30% (2H22 40%) 7% (2H22 6%) (2H22 29%) 35% Capitalised Software Balance¹, $b 3.0 2.5 29% (2H22 25%) 2.0 Growth Regulatory, Compliance & Risk Productivity & Simplification Asset Lifecycle Mgmt Basis: Cash Profit continuing operations 1. Source: Capitalised software balances sourced from publicly available company financials 1.5 1.0 0.5 FY12 ANZ 1H23 avg amortisation period of 2.7 years, down from 4.9 years in FY15 FY14 FY16 FY18 - ANZ - Peer 1 Peer 2 Peer 3 FY20 FY22 1H23 71#73ANZ 2023 Half Year Results OPERATING EXPENSES Total expenses¹, $b Total expenses by category, $b Full time equivalent staff1,2,'000s 5.0 5.0 4.8 4.8 4.8 4.8 39.7 39.2 39.8 1.1. 1.1 1.0 0.6 0.5 0.9 0.6 0.9 0.9 10.3 0.6 0.1 10.3 10.8 0.7 0.6 0.0 0.1 0.8 0.8 0.8 1.3 1.3 0.3 6.9 6.8 6.8 1.3 0.3 0.4 6.3 6.3 6.4 0.6 0.7 0.7 3.5 3.6 3.6 2.9 2.7 2.6 1.7 1.7 1.7 11.5 11.1 11.2 1H22 2H22 1H23 1H22 2H22 1H23 Mar 22 Sep 22 Mar 23 Australia Retail Australia Commercial Institutional New Zealand Other Personnel Premises Technology Restructuring Other Australia Retail Australia Commercial New Zealand Group Centre Institutional Pacific Basis: Cash Profit continuing operations 1. Prior periods have been restated to reflect the latest business structure 2. Comparative information has been restated to include FTE of the consolidated investments managed by 1835i Group Pty Ltd in the Group Centre division 72#74ANZ 2023 Half Year Results RISK ADJUSTED PERFORMANCE Group¹ Australia Retail Net interest income/ average Credit Risk Weighted Assets (CRWA), % Australia Commercial 1 6.28 1 8.06 8.37 | 5.05 6.43 6.16 7.05 5.98 6.18 5.19 4.64 4.30 4.22 5.51 5.65 Institutional¹ New Zealand, NZD 6.30 I 2.78 5.64 5.63 2.94 2.40 2.08 2.08 | 6.47 6.16 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 Average Credit Risk Weighted Assets (CRWA), $b 312 318 322 322 22 92 91 91 94 +4 43 43 41 40 40 123 131 136 130 39 50 51 53 56 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 Excluding the impact of Capital Reforms (effective date of 1 January 2023) Basis: Cash Profit continuing operations 1. Excluding Markets Business Unit 73#75ANZ 2023 Half Year Results RISK ADJUSTED RETURN Group Australia Retail Profit before provisions / average total Risk Weighted Assets (RWA), % Australia Commercial | 2.40 2.46 2.16 2.15 1.95 2H21 1H22 2H22 1H23 3.07 2.44 2.49 2.53 2.71 2.15 3.80 3.55 I 4.12 4.30 Institutional New Zealand, NZD 1.50 1.48 1.34 3.73 3.19 3.20 | 2.02 2.11 | 3.82 3.59 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 Average total Risk Weighted Assets (RWA), $b 411 427 445 452 110 115 122 123 52 52 53 62 2 182 192 203 201 52 52 60 63 65 55 70 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 2H21 1H22 2H22 1H23 Excluding the impact of Capital Reforms (effective date of 1 January 2023) Basis: Cash Profit continuing operations 74#76ANZ 2023 Half Year Results LARGE / NOTABLE ITEMS Customer Remediation, $m Continuing Operations Pre-Tax 485 119 352 29 86 254 Large / Notable items, $m 1H22 2H22 1H23 1H23 movement vs 2H22 vs 1H22 (HOH) $m Cash Profit impact (41) (113) (161) (48) (PCP) $m (120) Business divestments/closures 249 (6) 6 (249) Customer remediation and (133) (43) (42) 1 91 Litigation settlements Restructuring (31) (37) (38) (1) (7) $549m provisions on Transaction related costs¹ (10) (44) (34) (44) Balance Sheet Withholding tax (126) 0 126 Property rationalisation (17) (37) (20) (37) 110 84 173 166 161 337 32 22 129 30 1H22 2H22 1H23 1H23 movement 56 100 22 38 18 38 vs 2H22 vs 1H22 67 22 36 156 138 148 51 60 60 (HOH) $m (PCP) $m 19 42 13 92 93 12 10. 7 Cash Profit continuing operations 3,113 3,402 3,821 419 708 71 35 36 42 43 1H23 growth +12% +23% -3 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Cash Profit continuing operations ex. large/notable items 3,154 3,515 3,982 467 828 Net Interest Income Other Operating Income Expenses 1H23 growth +13% +26% Basis: Cash Profit continuing operations 1. Associated with establishing the new group organisational structure and the pending Suncorp Bank acquisition 75#772023 HALF YEAR RESULTS INVESTOR DISCUSSION PACK DIVISIONAL PERFORMANCE#78ANZ 2023 Half Year Results AUSTRALIA RETAIL - FINANCIAL PERFORMANCE Balance Sheet NLAs, $b Income Expenses / FTE Credit Quality / RWAs Profit & Returns NII/OOI Contribution, $m 301 2,975 3,174 290 3,299 281 Expenses, $m 1,741 Total Provision Charge, $m Cash Profit, $m 1,745 82 1,656 1,072 1,026 269 353 32 937 285 45 50 -11-5 2,706 2,821 3,018 -158 -16 -113 Mar 22 Sep 22 Mar 23 1H22 2H22 1H23 1H22 2H22 1H23 1H22 Net Interest Income IP 2H22 CP 1H23 1H22 2H22 1H23 Customer Deposits, $b 156 147 150 Other Operating Income NIM, % 2.39% 2.29% 2.21% FTE Risk Weighted Assets EOP, $b Return 11,475 11,107 11,199 126 119 118 5.38% 5.19% 5.21% 1.76% 1.63% 1.67% Mar 22 Sep 22 Mar 23 1H22 2H22 1H23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 1H22 2H22 1H23 Revenue / Avg RWA Return/ Avg RWA¹ Basis: Continuing Operations including Large / Notable items 1. Cash profit divided by average Risk Weighted Assets 77#79ANZ 2023 Half Year Results AUSTRALIA RETAIL - CONTRIBUTION AND PROFIT DRIVERS Contribution (Mar 23), $b 301 156 295 Cash Profit drivers (Mar 23), $m Net Interest Income +$197m 0 102 44 95 1,072 16 1,026 -72 -89 3.3 -98 0.3 112 3.0 Net Loans & Advances Customer Deposits Total Income (1H23) 2H22 Volume Margins Other Expenses Provisions Tax 1H23 Cash Home Loans Cards, Personal Loans & Other Deposits Offset Net interest income Profit Operating Income Cash Profit Other operating income Total Retail 1H23 v 2H22 1H23 v 1H22 Income Income +4% +11% Net Interest Income Other Operating Income 1H23 v 2H22 +7% -20% 1H23 v 1H22 +12% +4% Expenses +5% +0% NLA 1H23 v 2H22 1H23 v 1H22 Profit Before Provisions +2% +26% Home Loans Cash Profit -4% +9% Credit Cards & Personal Loans +4% -1% +6% -3% Net Loans & Advances (NLAs) +4% +6% Customer deposits 1H23 v 2H22 1H23 v 1H22 Customer Deposits +4% +6% Term Deposits +71% Total Customers +42k +112k Transact/Savings¹ -4% +92% -3% Basis: Continuing Operations including Large / Notable items 1. Includes Home Loans offset accounts 78#80ANZ 2023 Half Year Results AUSTRALIA RETAIL - LOANS & DEPOSITS 1. Lending composition, $b Deposit composition, $b 290 301 6 156 147 150 141 23 284 285 23 26 26 6 6 44 39 41 43 278 278 284 295 16 14 16 28 63 66 65 62 Sep 21 Home Loans Mar 22 Sep 22 Mar 23 Sep 21 Mar 22 Savings Term Deposits Offset Sep 22 Transact Mar 23 Cards, Personal Loans & Other Market Share¹, % 18.3 17.9 17.6 17.2 13.7 13.2 13.0 13.2 Monthly deposit trend, $b 160 150 140 12.5 12.4 130 12.1 11.8 120 110 Sep Mar Sep Mar Sep Mar Sep Mar 19 20 20 21 21 22 22 23 Housing Lending Credit Cards Household Deposits Sep 21 Mar 22 Sep 22 Mar 23 Source: APRA Monthly Authorised Deposit-taking Institution Statistics (MADIS) 79#81ANZ 2023 Half Year Results AUSTRALIA COMMERCIAL - FINANCIAL PERFORMANCE Balance Sheet Income Expenses / FTE Credit Quality / RWAs Profit & Returns NLAs¹, $b 56 NII/OOI Contribution, $m Expenses, $m Total Provision Charge, $m 59 59 1,635 1,595 1,807 175 685 66 Cash Profit, $m 883 649 652 9 185 43 57 739 668 477 -5--6- -11 1,632 -165 1,410 1,158 Mar 22 Sep 22 Mar 23 1H22 Customer Deposits, $b 116 112 113 2H22 -122 1H23 1H22 2H22 1H23 1H22 IP 2H22 CP 1H23 1H22 2H22 1H23 Net Interest Income Other Operating Income NIM, % FTE Risk Weighted Assets EOP, $b Return 6.92% 2.72% 3,528 3,551 3,607 52 54 47 6.30% 2.30% 6.01% 1.90% 3.40% 2.83% 2.52% Mar 22 Sep 22 Mar 23 1H22 2H22 1H23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 1H22 2H22 1H23 Revenue / Avg RWA Return/ Avg RWA² Basis: Continuing Operations including Large / Notable items 1. Asset Finance run-off businesses have been excluded from NLAS 2. Cash profit divided by average Risk Weighted Assets 80#82ANZ 2023 Half Year Results AUSTRALIA COMMERCIAL - CONTRIBUTION AND PROFIT DRIVERS Contribution (Mar 23), $b 113 Cash Profit drivers (Mar 23), $m Net Interest Income 0 59 1 20 36 77 668 +$222m 248 739 -10 -33 -77 -31 1.8 -26 0.2 39 1.6 Net Loans & Advances¹ SME Banking Customer Deposits Central Functions Total Income (1H23) 2H22 Cash Net interest income Profit Volume Margins Other Expenses Provisions Operating Income Tax 1H23 Cash Profit Specialist Business Other operating income Income Net Interest Income Total Commercial 1H23 v 2H22 1H23 v 1H22 Income +13% +11% Other Operating Income NLA¹ 1H23 v 2H22 +16% -5% 1H23 v 1H22 +41% -63% 1H23 v 2H22 1H23 v 1H22 Expenses +5% +6% SME Banking +0% +2% Profit Before Provisions +19% +14% Specialist Business +3% +13% Cash Profit +11% -16% Central Functions -16% -23% Net Loans & Advances (NLAs)1 +1% +5% Customer deposits 1H23 v 2H22 1H23 v 1H22 Customer Deposits +1% -3% Term Deposits Total Customers +5k +9k Transact/Savings +26% -5% +40% -11% Basis: Continuing Operations including Large / Notable items 1. Asset Finance run-off businesses have been excluded from NLAS 81 4#83ANZ 2023 Half Year Results AUSTRALIA COMMERCIAL - LOANS & DEPOSITS Lending composition', $b 56 1 Deposit composition, $b 56 59 59 111 116 112 113 ■1 1. ■1| 28 30 30 29 17 18 20 20 21 19 21 27 38 38 39 39 Sep 21 Mar 22 Sep 22 SME Banking Specialist Business Central Functions SME Banking1, $b 74 1. 38 78 38 39 Sep 21 Net Loans & Advances 77 62 67 61 57 Mar 23 Sep 21 Mar 22 Sep 22 Mar 23 Savings Term Deposits Transact 39 77 Mar 22 Sep 22 Mar 23 Customer Deposits Asset Finance run-off businesses have been excluded from NLAS Specialist Business $b 37 17 Sep 21 18 Net Loans & Advances 38 Mar 22 20 35 20 20 36 Sep 22 Mar 23 Customer Deposits 22 82#84ANZ 2023 Half Year Results AUSTRALIA COMMERCIAL - BOOK COMPOSITION & RISK WEIGHT INTENSITY Diversified portfolio - Geographical view Mar 23 % of Exposure at Default (EAD)¹ Security profile 13% 8% 29% 10% VIC/TAS NSW/ACT QLD WA SA/NT Other 14% 26% Diversified portfolio - Industry view Mar 23 % of Exposure at Default (EAD) % of Exposure at Default (EAD) 2,3 5% 5% 3% 5% 13% 3% 12% 5% 3% 5% 11% 13% 77% 79% 80% 81% Sep 21 Mar 22 Fully Secured Partially Secured Sep 22 Unsecured Mar 23 Other Risk weight intensity², $b 17% Comm. Property & Construction Agri., Forestry & Fishing Retail Trade 58.5% 55.7% 25% 71 70 5% 5% Other Property & Bus. Services Manufacturing 51 52 55.6% 50.2% 73 71 52 54 47 6% Health & Community Services 6% 20% Accom. Cafes & Restaurants 8% Sep 21 Mar 22 Sep 22 Mar 23 8% Wholesale Trade Other Industries Total CRWA/EAD EAD Total RWA 1. 2. States based on primary postcode. 'Other' refers to exposures not reported against a specific state. Some postcodes occur across two states Excludes the Merchants divested business results in the Sep 21 period 3. Fully Secured on a market value basis. Other includes loans secured by cash or via sovereign backing 83#85ANZ 2023 Half Year Results NEW ZEALAND DIVISION - FINANCIAL PERFORMANCE Balance Sheet¹ Income¹ Expenses / FTE Credit Quality/RWAs Profit & Returns NLAS² & NIM, NZDb NII/OOI Contribution, NZDm 125 129 128 1,693 259 1,912 1,937 238 216 Expenses, NZDm 689 Total Provision Charge, NZDm Cash Profit, NZDm 688 685 81 82 822 842 10 746 85 72 2.33% 2.61% 2.67% 1,674 1,721 1,434 Mar 22 Sep 22 Mar 23 1H22 NLAS -NIM% 2H22 -14 -18 -32 1H23 1H22 2H22 1H23 1H22 IP 2H22 CP 1H23 1H22 2H22 1H23 Net Interest Income Other Operating Income Customer Deposits, NZDb Business Contribution³, NZDm FTE Risk Weighted Assets EOP, NZDb Return 104 104 105 1,693 1,912 6 1,937 5 6,939 6,793 6,785 64 H 48 44 41 28 498 522 439 77 5.83% 5.40% 5.56% 65 2.38% 2.51% 2.42% 34 38 42 1,226 1,408 1,410 22 22 22 Mar 22 Sep 22 Mar 23 1H22 2H22 1H23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 1H22 2H22 1H23 Savings Transact Term Deposit Personal Business Other Revenue/Avg RWA Return/Avg RWA4 Basis: Continuing Operations including Large / Notable items 1. During 2H22 Business was re-segmented for large Agri customers; 1H22 not restated 2. NLAS: Net Loans & Advances 3. 4. During 1H22 business units were reorganised from Retail and Commercial to Personal and Business which resulted in some customer re-segmentation Cash profit divided by average Risk Weighted Assets 84#86ANZ 2023 Half Year Results NEW ZEALAND DIVISION - CONTRIBUTION & PROFIT DRIVERS Contribution (Mar 23), NZDb 128 25 103 Cash Profit drivers (Mar 23), NZDm Net Interest Income +$47m 105 37 19 10 1.9 822 0.2 86 1.7 -22 | w 842 -1 -7 Net Loans & Advances Customer Deposits Total Income (1H23) 2H22 Volume Margins Other Expenses Provisions Tax 1H23 Cash Business Personal Net interest income Other operating income Profit Operating Income Cash Profit NZ Division¹ Income 1H23 v 2H22 1H23 v 1H22 Income¹ 1H23 v 2H22 +1% Net Interest Income +14% +3% 1H23 v 1H22 +20% Expenses 0% -1% Other Operating Income -9% -17% NLA¹ 1H23 v 2H22 1H23 v 1H22 Profit Before Provisions +2% +25% Home Loans² Cash Profit +2% +13% Net Loans & Advances (NLAs) 0% +3% Customer Deposits 0% 0% Total Customers +37k +49k Business Loans³ Deposits Term Deposits Transact/Savings 0% -2% +1% +8% 1H23 v 2H22 1H23 v 1H22 +9% +23% -5% -10% Basis: Continuing Operations including Large / Notable items 1. During 2H22 Business was re-segmented for large Agri customers; 1H22 not restated 2. Housing includes business loans secured by residential properties 3. Business excludes business loans secured by residential properties, includes Agri lending 85#87ANZ 2023 Half Year Results NEW ZEALAND DIVISION - BALANCE SHEET Housing1 Business² Agri ANZ Performance (NZDb) ANZ Performance (NZDb) ANZ Performance (NZDb) 150 15 30 103.1 104.2 104.6 100 10 6.9 7.3 7.3 20 15.7 15.4 15.1 50 5 10 0 0 Mar 22 Sep 22 0 Mar 23 Mar 22 Sep 22 Mar 23 Owner Occupied Residential Investment Loan Other lending Commercial Property Mar 22 Dairy Sep 22 Sheep, cattle and grain Mar 23 Other Relative to system growth³ 30.7% 30.4% 30.1% Relative to system growth³ 22.3% 21.9% 21.8% 4.4% 3.4% 4.5% 4.9% 4.1% 1.8% 1.6% 2.3% 1.1% 0.4% 0.4% 1H22 2H22 1H23 -0.3% 1H22 2H22 1H23 System growth ANZ growth Market share 1. Housing includes business loans secured by residential properties 2. Business excludes business loans secured by residential properties 3. Source: RBNZ, market share at NZ Geography level Relative to system growth³ 25.9% 25.2% 24.8% 0.9% 0.4% -1.4% -2.5% -1.7% -1.2% 1H22 2H22 1H23 86 98#88ANZ 2023 Half Year Results AUSTRALIA & NEW ZEALAND 90+ DAYS PAST DUE (DPD) Consumer portfolio¹ 90+ DPD as a % of total portfolio balances 1.50 1.25 1.00 0.75 0.50 0.25 0.00 Sep Dec Mar 18 18 19 Jun 19 Sep Dec Mar Jun 19 19 20 20 Sep 20 Dec 20 Mar 21 Jun 21 Sep Dec Mar Jun Sep Dec Mar 21 21 22 22 22 22 23 Australia Home Loans Australia Consumer Cards NZ Home Loans 1. Includes Non Performing Loans. ANZ delinquencies are calculated on a missed payment basis for amortising and Interest Only loans. Australia Home Loans 90+ between Mar-20 and Jun-20 excludes eligible Home Loans accounts that had requested COVID-19 assistance but due to delays in processing had not had the loan repayment deferral applied to the account 88 87#89ANZ 2023 Half Year Results DIGITAL PLATFORMS - SCALABLE OPERATING LEVERAGE, CAPITAL LIGHT Payments¹, m 9% 321 295 148 161 171 Direct Integration Payments 1,2, m NPP Agency Payments 1,2, m Platform Cash Mgmt. Accounts³, k 26% 31% 32% 125 20 411 99 15 312 231 64 58 8 32 76 52 1H22 1H23 1H19 1H20 1H21 1H22 1H23 1H19 1H20 1H21 1H22 Payments made by customers to their suppliers and employees through our digital channels 1H23 Covers payments initiated via Web & Mobile, direct integration with ANZ or via agency agreements whereby ANZ clears payments on behalf of other banks 1H19 1H20 1H21 1H22 1H23 • Automated payments initiated via direct integration between the banks' and our customers' systems • Enables a high degree of automation and control for customers, replacing manual processes with a scalable alternative that removes the need for human intervention 0 1H19 1H20 1H21 • A service whereby ANZ clears & settles real- time payments for customers of Appointer banks on their behalf • Powering other banks' customers with real- time payments • • Deposit management for entities holding funds on behalf of their clients Supporting CX in provision of client money accounts to activate services/transactions Digital Self Service . Extended Digital Self Service capability to New Zealand, reducing customer effort, manual error risk and operational rework • Removed ~30 manual forms involved in enabling Digital Self Service for Australian customers • 20% increase in Digital Self Service usage Data Insights Developed MLOps cloud framework to enable Machine Learning insights at scale Enhanced data insights delivered through our web platform, Transactive Global, providing customers with near real-time access to Australian consumer spend analysis • API Integration Delivered FX Rates API in New Zealand, integrating ANZ's FX liquidity into our customers' internal systems, allowing them to execute FX transactions seamlessly and without manual intervention Incidents per Million Payments 0.02 incidents per million payments for 1H FY23, delivering quality and resilient payment platforms for customers despite growing volumes Platform initiatives are enabling additional revenue opportunities within ANZ Payments & Cash Management 1. Number of payments 2. Subset of total payments 3. Number of Australian virtual client monies accounts 88#90ANZ 2023 Half Year Results INSTITUTIONAL - SUMMARY Customer Franchise Revenue¹, $m Risk Adjusted NIM2,3, bps 3,052 Operational / At-Call 2,613 2,400 152 168 173 194 219 171 Deposits ($b) Transactional Deposits & Payments # of Digital Payments Processed (m) Deposit NIM 2,333 (bps) 2,141 334 1,613 +45% 294 1,263 +3 1,282 953 1,057 56 225 240 16 208 208 103 79 882 82 +117% 1,118 1,188 1,276 1,350 1,439 278 278 71 нн 2H19 2H21 1H22 2H22 1H23 2H19 2H21 1H22 2H22 1H23 1H23 (fully phased reg change) 321 148 Lending Non Lending Risk Adjusted Margin Regulatory Change Risk Adjusted Lending Margin 2H19 1H23 2H19 1H23 1H19 1H23 Investment grade (ex Markets), $b CRWA Intensity, EOP $b Returns4 2.0% 1.9% 1.7% 1.8% 285 265 276 52.2% 50.3% 50.3% 47.5% 1.6% 252 41.8% 1.7% 235 1.3% 1.2% 1.1% 163 156 164 172 150 1.0% 1.4% 72% 74% 75% 78% 78% 0.4% 0.5% 0.9% 0.3% 28% 26% 25% 22% 22% нн HH Sep 19 Sep 21 Mar 22 Sep 22 Mar 23 Sep 19 Sep 21 Mar 22 Sep 22 Mar 23 2H19 2H21 1H22 2H22 1H23 Investment Grade (EAD) Non Investment Grade (EAD) Credit RWA/EAD (ex Markets) Credit RWA ― Aus. & PNG New Zealand O International Basis: Continuing Operations including Large / Notable items 1. Excludes: Balance Sheet Trading and Derivative Valuation Adjustments 12 2. Institutional ex-Markets Net Interest income divided by average Credit Risk Weighted Assets 3. Lending NIM represents Corporate Finance and Trade & Supply Chain 4. Return: Cash profit divided by average Risk Weighted Assets 89#91ANZ 2023 Half Year Results INSTITUTIONAL - FINANCIAL PERFORMANCE Balance Sheet Income Expenses & FTE Credit Quality & RWA Profit & Returns NLAs¹, $b & Margins, % Product Composition³, $m Expenses, $m Total Provision Charge, $m Cash Profit, $m 1,597 3,444 1,273 1,293 1,328 2,793 13 | 1 | 5' 1,128 598 207 208 2,555 1,149 -15 809 188 -26 755 812 -2 114 391 16 249 1.94% 15 -25 -79 1,196 1.73% 1.71% 1,136 199 234 1,071 750 657 886 1,105 496 503 -74 -6. Mar 22 Sep 22 Mar 23 1H22 2H22 1H23 1H22 2H22 1H23 Mar 22 Sep 22 Mar 23 1H22 2H22 1H23 NLAS TB Other IP CP Aus. & PNG International Risk Adjusted Lending Margin² CF Markets New Zealand Customer Deposits, $b NII/OOI Contribution, $m FTE 278 3,444 247 263 6,323 6,316 6,353 192 Risk Weighted Assets EOP, $b 203 Return 201 2,793 2,555 1,373 130 138 152 868 783 23 23 24 1,772 1,925 2,071 3.43% 2.67% 2.75% 1.59% 199 208 1.11% 183 0.84% 94 102 102 Mar 22 Sep 22 Mar 23 1H22 2H22 Aus. & PNG International Net Interest Income New Zealand Other Operating Income 1H23 Mar 22 Sep 22 Mar 23 Mar 22 Sep 22 Mar 23 1H22 RWA EOP RWA AVG 2H22 Revenue/Avg RWA 1H23 Return/Avg RWA4 Basis: Continuing Operations including Large / Notable items Risk Adjusted Lending Margin is calculated as Net Interest Income divided by average Credit Risk Weighted Assets for Corporate Finance and Trade TB: Transaction Banking; CF: Corporate Finance 1. NLAS: Net Loans & Advances 2. 3. 4. Cash profit divided by average Risk Weighted Assets 90#92ANZ 2023 Half Year Results INSTITUTIONAL - INCOME & ASSET COMPOSITION Income composition by product¹, $m Net loans and advances, $b 3,444 207 208 2,793 188 2,671 2,593 2,555 1,149 171 41 41 160 34 755 27 21 19 1,040 931 812 28 19 16 17 862 14 18 14 15 672 457 460 452 Ex Markets 189 187 205 214 243 118 127 136 145 149 967 1,001 1,071 1,136 1,196 1H21 2H21 1H22 2H22 1H23 Trade PCM Other Markets Corporate Finance Income composition by region, $b Mar 21 Sep 21 Mar 22 Sep 22 Mar 23 Corporate Finance Transaction Banking Markets Exposure at default 1,2, $b 3,444 535 537 462 471 487 2,671 2,793 2,593 2,555 1,390 251 261 823 673 1,003 846 228 220 222 401 416 485 5 406 415 7 6 5 53 5 39 44 47 60 1,447 1,504 1,303 1,375 1,569 188 201 213 226 211 1H21 2H21 1H22 2H22 1H23 Mar 21 Sep 21 Mar 22 Sep 22 Mar 23 Aus. & PNG New Zealand International Corporate Finance Trade PCM Markets Basis: Continuing Operations including Large / Notable items 1. Trade: Trade & Supply Chain; PCM: Payments & Cash Management 2. Exposure at default excludes amounts for 'Securitisation' and 'Other Assets' Basel classes, as per APS330. Data provided is on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral 91#93ANZ 2023 Half Year Results INSTITUTIONAL MARGINS1 Risk Adjusted NIM drivers, bps Risk Adjusted NIM - by geography, bps Regulatory Change Institutional Australia & PNG 334 292 294 246 253 240 224 222 230 222 207 190 202 208 208 278 271 278 278 16 26 13 294 240 -1 16 21 56 1H20 2H20 1H21 2H21 1H22 2H22 1H23 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H22 Mix Deposit Asset Regulatory Margins Margins Change 16 1H23 1H23 (fully phased reg change) Lending Risk Adjusted Margin 2,3 Lending NIM 2,4 Deposit NIM5 194 161 168 173 171 148 149 147 143 148 82 148 145 127 131 67 60 184 46 41 39 34 10 1H20 2H20 1H21 2H21 1H22 2H22 1H23 1H20 2H20 1H21 2H21 1H22 2H22 1H23 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Basis: Cash Profit, Continuing Operations including Large / Notable items. New Zealand 355 332 287 234 218 243 263 International 275 188 150 358 135 149 147 156 261 14- 1H20 2H20 1H21 2H21 1H22 2H22 1H23 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Regulatory Change 1. Institutional ex-Markets Net Interest Income divided by average Credit Risk Weighted Assets; 2. Lending NIM represents Corporate Finance and Trade & Supply Chain; 3. Risk Adjusted Lending Margin is calculated as Net Interest Income divided by average Credit Risk Weighted Assets for Corporate Finance and Trade; 4. Calculated Net Interest Income divided by Average Interest Earning Assets; 5. Deposit NIM represents Net Interest Income divided by Net Internal Assets for Payments & Cash Management (PCM) 92#94ANZ 2023 Half Year Results INSTITUTIONAL - CREDIT RISK WEIGHTED ASSETS (CRWA) CRWA average¹, $b 167 159 153 160 165 4 4 5 3 3 3 31 35 29 35 30 15 18 18 19 19 105 101 108 114 108 1H21 2H21 1H22 2H22 1H23 Corporate Finance Trade Markets Other CRWA intensity, EOP $b 52.4% 50.3% 50.3% 47.5% 41.8% 153 156 164 172 150 CRWA movement HOH, EOP $b 172 0 -25 7 150 -2 -2 Mar 21 Sep 21 Mar 22 Sep 22 Mar 23 Sep 22 FX Data Methodology Volume Risk Derivatives Migration Mar 23 CRWA Credit RWA/EAD (ex markets) Basis: Continuing Operations including Large / Notable items 1. Trade: Trade & Supply Chain 93#95ANZ 2023 Half Year Results INSTITUTIONAL - MARKETS INCOME COMPOSITION Markets Income composition, $m 1,490 131 Markets avg. Value at Risk (99% VaR), $m Both Traded and Non-Traded VaR increased reflecting periods of higher market volatility driven by market shocks and revised rate hike expectations 40 40 100 1,164 1,149 24 468 36 1,040 947 238 -21- 80 931 -7- 356 67 830 103 812 257 402 755 49 72 248 60 445 223 112 189 206 88 52 80 41 290 32 89 139 53 53 30 35 158 40 40 244 43 60 111 338 32 181 186 128 124 88 88 82 75 21 19 36 18 31 17 30 50 20 20 437 381 407 20 20 10 11 8 327 282 307 324 8 253 263 -10 -26 1H20 2H20 1H21 2H21 1H22 2H22 1H23 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Foreign Exchange Commodities Balance Sheet Non-traded (LHS) Traded (RHS) Rates Credit and Capital Markets Derivative val/n adj. Basis: Continuing Operations including Large / Notable items 94#96ANZ 2023 Half Year Results CONSISTENCY OF MARKETS INCOME 1. Markets historical monthly income, $m Historical monthly revenue distribution (FY15-FY22) 400 350 300 250 200 192 (1H23 Average) 169 (8Y Historical Average) 150 100 50 0 +1 SD - 1 SD 14% 74% 12% Characteristics of monthly income distribution • Over the last 8 years, monthly revenue has followed close to a normal distribution. Average monthly income ~$169m with a standard deviation of ~$50m. Stability is driven by a set of "core" customers who deal with ANZ Markets on a regular basis and across multiple geographies and products. • Franchise Income tends to be higher during periods that exhibit moderate levels of market volatility, and where market risks broadly follow directional trends. Moderate volatility encourages customer activity, while directional trends provide trading opportunities. Such conditions typically arise in traditionally "risk-off ¹" environments, but can also arise in the context of more positive sentiment as has been the case during the first part of 1H23. • In 1H23, Markets Franchise Income rebounded from the prior year, reflecting continuing elevated market volatility and consistently rising interest rates globally. In March, positive sentiment temporarily receded when international banking "crises" led markets to focus on recessionary concerns. • This continues the pattern seen since post-COVID quantitative tightening began, of relatively more frequent sudden and severe market movements, punctuating intervening periods of stronger customer activity and trading gains. A risk-off environment is broadly defined as one where credit spreads widen, risk-free bond yields fall, equities sell off, volatility increases, and USD strengthens 95#97ANZ 2023 Half Year Results INSTITUTIONAL - REGIONAL SUMMARY Australia & PNG New Zealand International Customer Franchise Revenue', $m Customer Franchise Revenue', $m Customer Franchise Revenue', $m 1,170 1,326 1,212 1,315 1,419 463 1,214 355 387 412 425 873 719 707 668 529 504 561 653 689 174 201 224 271 542 478 219 395 352 250 658 683 710 754 766 136 213 211 201 192 324 нн нн нн 292 355 395 481 2H19 2H21 1H22 2H22 1H23 2H19 2H21 1H22 2H22 1H23 2H19 2H21 1H22 2H22 1H23 Lending Non lending Lending Non lending Lending Non lending Returns Returns Returns 4.0% 3.8% 4.0% 3.4% 2.9% 3.1% 3.1% 3.3% 3.4% 2.9% 2.4% 2.6% 2.6% 2.2% 2.5% 1.2% 1.3% 1.4% 1.7% 1.8% 1.9% 2.0% 1.7% 1.6% 1.1% 1.0% 0.9% 0.4% 0.5% 0.3% 2H19 2H21 1H22 2H22 1H23 2H19 2H21 1H22 2H22 1H23 2H19 2H21 1H22 2H22 1H23 Return/Avg RWA² Margins³ Revenue/Avg RWA Return/Avg RWA² Revenue / Avg RWA Return/ Avg RWA² Revenue / Avg RWA Margins³ Margins³ 263 253 230 222 292 21 332 355 263 287 231 271 275 14 188 173 147 156 358 261 нн 2H19 2H21 1H22 2H22 1H23 2H19 2H21 2H19 1H22 2H22 1H23 2H21 1H22 2H22 1H23 Regulatory Change Average Credit Risk Weighted Assets (CRWA), $b Regulatory Change Average Credit Risk Weighted Assets (CRWA), $b Regulatory Change Average Credit Risk Weighted Assets (CRWA), $b 81 82 84 88 86 нн 2H19 2H21 1H22 2H22 1H23 Basis: Continuing Operations including Large / Notable items 1. Excludes: Balance Sheet Trading and Derivative Valuation Adjustments 2. Return: Cash profit divided by average Risk Weighted Assets 3. Institutional ex-Markets Net Interest income divided by average Credit Risk Weighted Assets 17 21 20 19 19 58 56 50 60 60 нн нн 2H19 2H21 1H22 2H22 1H23 2H19 2H21 1H22 2H22 1H23 96#982023 HALF YEAR RESULTS INVESTOR DISCUSSION PACK TREASURY#99ANZ 2023 Half Year Results ANZ GROUP CAPITAL ANZ Group Capital Composition, $b ANZ Bank Group Key Capital Ratios (%) Mar 22 Sep 22 Mar 231 Level 2 CET1 capital ratio 11.5 12.3 13.2 90.6 82.8 72.8 CET1 Composition Level 2 CET1 HoH mvmt -81 bps +76 bps +89 bps 0.7 0.2 Additional Tier 1 capital ratio 1.7 1.7 1.9 58.4 55.9 50.5 Tier 1 capital ratio 13.2 14.0 15.1 Tier 2 capital ratio 3.4 4.2 5.5 57.4 Total regulatory capital ratio 16.6 18.2 20.6 ANZ Bank Group Leverage ratio 5.2 5.4 5.3 Non-Bank Group NOHC (surplus) Risk weighted assets $437.9b $454.7b $435.5b Mar 22 CET1 Sep 22 AT1 Mar 23 Tier 2 Level 1 CET1 capital ratio 11.1 12.0 12.9 Level 1 CET1 HoH mvmt -94 bps +94 bps +90 bps • There is no material change to capital ratios in ANZ Bank Group post NOHC restructure as the majority of capital remained in ANZ Bank Group. The ANZ Bank Group's capital requirements will continue to be determined by existing APRA requirements applied to ADIS ANZ Non-Bank Group capital is assessed by using an economic capital model (ECM). Capital held within the Non-Bank Group is required to be equivalent to, or greater than economic capital at all times Level 2 vs Level 1 mvmt 13 bps -18 bps -1 bps Level 1 risk weighted assets $370.7b $392.0b $370.4b Internationally comparable ratios² (%) Leverage ratio 5.9 6.1 5.9 Level 2 CET1 capital ratio 18.0 19.2 18.9 1. Mar 23 capital balances include APRA Capital Reform updates which impact the calculation of credit RWA and Operational RWA 2. Mar 23 Internationally Comparable methodology aligns with The Australia Banking Association BASEL 3.1 Capital Comparison Study (Mar 2023). September 22 and March 22 Internationally Comparable methodology align with APRA's information paper entitled 'International Capital Comparison Study' (13 July 2015). 98#1001. 2. ANZ 2023 Half Year Results REGULATORY CAPITAL - 1H23 UPDATE ANZ Bank Group Capital update Level 2 CET1 ratio of 13.2% (18.9% on an Internationally Comparable basis¹) or ~12.1% on a pro forma basis including Suncorp Bank acquisition and surplus capital in NOHC. This is above the operating range (11% - 11.5%) advised by APRA's guidance released in July 22 CRWA growth mainly reflects increased volume in Retail Australia and Institutional; IRRBB RWA decrease partially offset by increase in Market Risk RWA Leverage ratio of 5.3% (or 5.9% on an Internationally Comparable basis) Level 1 CET1 ratio of 12.9% or ~12.3% pro forma for the Suncorp Bank acquisition ANZ Group Dividend • Interim Dividend of 81 cents fully franked, ~64% DPOR on 1H23 Cash profit from continuing operations (~61% DPOR on a excl. LNI basis) Regulatory update • APRA Capital Reforms took effect from 1 January 2023 with benefits from reduction in RWA offset by increased capital buffers. On track with RBNZ capital reform transition, including issuance of RBNZ compliant capital securities APRA Level 2 Common Equity Tier 1 (CET1) ratio - 1H23 Movement, % i L1 12.0% 1.00 0.14 0.23 12.29 -0.29 -0.13 -0.06 L1 12.9% 13.18 i L1 12.3% 0.06 12.10 -1.14 Sep 22 APRA Capital Reform² Underlying CRWA (ex FX) Non-CRWA (ex FX) IRB Floor Adjustment Capital generation NOHC Surplus Mar 23 Suncorp Bank & other Capital Transferred Surplus acquisition (incl. NOHC Capital IRB Floor adj) Mar 23 pro forma Internationally Comparable methodology aligns with The Australia Banking Association BASEL 3.1 Capital Comparison Study (Mar 2023) Capital Reform impacts includes $28.5bn CRWA decrease and $6.0 billion Operational Risk RWA decrease 99#101ANZ 2023 Half Year Results BASEL III CET1 REFORMS AND TLAC FINALISATION 1. APRA CET1 reforms • • APRA Capital Reforms took effect from 1 January 2023 with benefits from reduction in RWA partially offset by increased capital buffers Enhancing risk sensitivity in residential and commercial property portfolios. Higher capital requirement segments such as interest only and investor mortgages 72.5% output floor to limit the gap between Standardised and Advanced ADIS Updated minimum capital requirements, % 19.25% Higher 6.50% 14.00% APRA minimum LAC in the form of Tier 2 2.00% • Aligning CRWA of New Zealand banking subsidiaries by applying a similar framework to Reserve Bank of New Zealand increased 1.50% 1.50% from 8.00% 1.00% Minimum CET1 ratio 10.25% - which includes a baseline countercyclical to 10.25% . capital buffer (CCyB) of 1% of Australian assets that can be released in times of systemic stress¹ ~1% 2.50% 1.00% 1.00% • ANZ's CCyB for Mar 23 of 0.62% was lower than 1.00% given ANZ's mix of geographic exposures 3.75% 2.50% • APRA's guidance released in July 22 expected major banks to target an operating range between 11% and 11.5% (average of 11.25%), with the lower end being the minimum expectations post Group dividend payment TLAC finalisation • • APRA finalised TLAC requirements at 6.5% of RWA in the form of Tier 2 capital Implementation on 1 January 2026 Interim target of 5% of RWA in the form of Tier 2 capital remains at 1 January 2024 4.50% APRA Basel 3 Minimum Prudential Capital Requirement (PCR) Capital Conservation Buffer (CCB) Domestic Systematically Important Banks (D-SIBS) Countercyclical Capital Buffer (CCyB) 4.50% APRA Capital Reform Unquestionably Strong Buffer AT1 Tier 2 The CCyB is calculated on a bank's Australian assets only. The final CCyB requirement will reduce based on a bank's international exposures 100#102ANZ 2023 Half Year Results REGULATORY CAPITAL - RISK WEIGHTED ASSETS Risk weighted assets - Level 2, $b Total Credit RWA increase $14.3b (excluding Capital Reform impact) 454.7 2.7 457.4 8.8 Total Capital Reform Impacts 1.3 1.5 0.4 -3.7 -6.0 4.3 435.5 -28.5 Sep 22 FX impacts (credit) Sep 22 FX adjusted Divisional lending Risk Migration Other CRWA impacts Operational Risk RWA Market Risk & IRRBB RWA Op Risk SMA Adoption CRWA Impacts IRB Floor Adjustment Mar 23 Risk weighted assets - IRRBB, $b 38.1 33.4 31.9 4.05% 3.41% 18.0 13.5 10.2 2.60% 0.52% 0.35% 0.14% Sep 20 Mar 21 Sep 21 Mar 22 Sep 22 Mar 23 Embedded Gains/Losses Repricing & Yield Curve Risk Basis & Optionality Risk ◆ 3 yr AUD Swap Rate 101#103ANZ 2023 Half Year Results INTERNATIONALLY COMPARABLE¹ REGULATORY CAPITAL POSITION Level 2 capital ratio (APRA vs internationally comparable)², % 24.9 4.6 16.6 2.5 3.4 1.7 18.0 11.5 APRA Int. Comparable Mar 22 29.0 27.3 7.4 5.8 20.6 18.2 2.3 2.6 5.5 4.2 1.9 1.7 19.2 18.9 12.3 13.2 APRA Sep 22 Common Equity Tier 1 Int. Comparable Additional Tier 1 Tier 2 APRA Int. Comparable Mar 23 APRA Level 2 CET1 Ratio - 31 March 2023 Residential Mortgages APRA requires 100% deduction from CET1, unlike Basel IRB Scaling Factor New Zealand Exposures Equity Investments & DTA APRA requires cohort specific multipliers (i.e. 1.4x for Owner Occupier Principal and Interest & 1.7x for all Other mortgage types) and other adjustments that are not imposed by Basel APRA requires a scaling factor of 1.1 times for all Risk Weighted Assets, unlike Basel APRA requires the use of Reserve Bank of New Zealand (RBNZ) capital rules to calculate the Credit Risk Weighted Assets for all New Zealand subsidiary credit exposures, which are generally more conservative than the Basel rules 13.2% +1.1% +1.0% + 0.9% + 0.9% IRRBB RWA APRA includes IRRBB in Pillar 1 RWA, which is not a requirement under Basel + 0.8% Non-Retail Loss Given Default APRA specifies non-retail LGDs that are lower than Basel for sovereigns (5% or 25%) and critical infrastructure operators (25%), but higher for other general corporate exposures (50%) + 0.6% Other Risk Weighted Assets Other Capital Includes impact of reversing APRA required 1.5x scalar for IPRE exposures and conservative supervisory slotting risk weights for project, object and commodity finance Includes impact of reversing APRA required deductions from CET1 for capitalised expenses & deferred fee income + 0.2% + 0.2% 18.9% Basel III Internationally Comparable CET1 Ratio - 31 March 2023 Mar 23 Internationally Comparable methodology aligns with The Australia Banking Association BASEL 3.1 Capital Comparison Study (Mar 2023). September 22 and March 22 Internationally Comparable methodology align with APRA's information paper entitled 'International Capital Comparison Study' (13 July 2015) 1. 2. Sum of individual capital ratios may not be equal to Total Capital ratio due to rounding 102#104ANZ 2023 Half Year Results BALANCE SHEET STRUCTURE1 NSFR movement, % Pro forma NSFR is ~116.3% once RSF benefit associated with TFF is removed Balance sheet composition, Mar 23 1.9 119.1 2.0 118.6 0.5 -0.8 -4.1 Sep 22 Retail/ Corp/ Loans Capital & LT Debt Hybrids Other² Mar 23 Operational FI Deposits NSFR Composition, Mar 23 $b 614 Wholesale Funding & Other³ Non-Financial Corporates Retail/SME Capital Available Stable Funding 517 Liquids Liquid and Other Assets 37% FI Lending 5% Non-FI Lending 21% Offshore Short Term W'sale Debt 4% Domestic Short Term Wholesale Debt and Other Funding 22% Corporate, PSE and Operational Deposits 26% Retail and SME Deposits 30% and Other Assets4 Other Loans5 Mortgages 37% Residential Mortgages <35% Required Stable Funding Assets Long Term Wholesale Debt 9% Capital incl. Hybrids and Tier 2 9% Funding 2. Includes Securities, Derivatives, Other Assets and net FX impacts 1. NSFR Required Stable Funding (RSF) and Available Stable Funding (ASF) categories and all figures shown are on a Level 2 basis per APRA prudential standard APS210 3. 'Other' includes Sovereign, and non-operational FI Deposits 4. 'Other Assets' include Off Balance Sheet, Derivatives, and Fixed Assets 5. All lending >35% Risk weight 6. <35% Risk weighting as per APRA Prudential Standard 112 Capital Adequacy: Standardized Approach to Credit Risk 7. Includes FI/Bank deposits, Repo funding and other short dated liabilities 8. Includes Central Bank Term Funding (RBA TFF, RBNZ FLP/TLF) 103#105ANZ 2023 Half Year Results LIQUIDITY COVERAGE RATIO (LCR) SUMMARY1 Movement in average LCR surplus², $b 2H22 Avg LCR 129% 3 28 55 -4 -9 -3 1H23 Avg LCR 128% 58 -12 2H22 CLF3 Liquid Assets Retail/ SME Corp/FI/ WSF PSE Other4 1H23 LCR composition, Average 1H23 $b 266 Other LCR Liquids5 Offshore short-dated Financial Institution (FI) deposits are typically placed with Central Banks. Whilst this has no effect on LCR $ surplus, the LCR ratio reduces by ~10% (i.e. dilutive to the ratio) HQLA¹ 208 Wholesale funding Customer deposits & other4 Offshore central bank cash to support short-dated Fl deposits Liquid Assets Offshore short-dated Fl non-op Deposits Net Cash Outflow LCR surplus excludes surplus liquids considered non-transferrable across the Group. As at 31 March 2023, this included $14b of surplus liquids held in NZ ANZ's remaining CLF was reduced by $2.7bn on 1 January 2023 - 23 1. All figures shown on a Level 2 basis as per APRA Prudential Standard APS210 2. 3. 4. 'Other' includes off-balance sheet and cash inflows 5. Comprised of HQLA2, Internal RMBS and other ALA. Other ALA includes assets qualifying as collateral for the Committed Liquidity Facility (CLF), excluding internal RMBS, up to approved facility limit; and any assets contained in the RBNZ's liquidity policy - Annex: Liquidity Assets - Prudential Supervision Department Document BS13A 104#106TERM WHOLESALE FUNDING PORTFOLIO¹ ANZ 2023 Half Year Results Issuance, $b 32 1H23 maturities of $12b. Excludes $2.4b Covered Bond trade settled on 4 April 2023 (matures FY25) 25 24 22 22 Maturities, $b 28 24 21 21 19 17 16 80 8 6 2 FY16 FY17 FY18 FY19 FY20 FY21 FY22 1H23 2H23 FY24 FY25 FY26 FY27 FY28 FY29 FY30+ Senior Unsecured Covered Bonds Tier 2 RMBS TFF NZ FLP / TLF Portfolio 17% Unsecured issuance has 13% 3% 1% decreased from 78% in FY18 44% 22% Portfolio by currency 4% 20% Domestic portfolio has increased from 33% in FY18 53% 23% Senior Unsecured Tier 2 TFF Covered Bonds NZ FLP / TLF RMBS Domestic (AUD, NZD) North America (USD) UK & Europe (£, €, CHF) Asia (JPY, HKD, SGD, CNY) • ANZ's term funding requirements depend on market conditions, balance sheet needs and exchange rates, amongst other factors • ANZ expects modest 2H23 funding needs of $5-10b • • Proactive 1H23 funding has ANZ well placed to manage TFF maturities and provides balance sheet flexibility Total term wholesale funding outstanding (as at 31 March 2023) of ~$116b (incl TFF) has increased by ~$2b since FY18 Suncorp Bank's modest funding needs are in addition to these requirements 1. All figures based on historical FX and exclude AT1. Includes transactions with an original call or maturity date greater than 12 months as at the respective reporting date. Tier 2 maturity profile is based on the next callable date 105#107ANZ 2023 Half Year Results ANZ'S TIER 2 CAPITAL PROFILE¹ 1. 2. Tier 2 capital, Notional amount % ANZ's Tier 2 capital requirement to progressively increase to meet TLAC requirement • ANZBGL has issued $19.7b since July 2019 across AUD, EUR, GBP, JPY, SGD and USD APRA announced a finalised Tier 2 capital requirement of 6.5% of RWA by 1 January 2026 (current Tier 2 ratio is 5.5%) Suncorp Bank related RWA requires ~$2.5b of additional Tier 2 TLAC requirements by 1 January 2026 ANZBGL expects 2H23 Tier 2 requirements of $1.5-2.0b (inclusive of Suncorp Bank requirements) Planned issuance in multiple currencies in both callable and bullet format In addition to ANZBGL TLAC, ANZ NZ has modest Tier 2 requirements of 2% of ANZ NZ RWA by 2028 under RBNZ requirements. ANZ NZ has issued NZD ~$1.4b Tier 2 under these rules since Sept 2021 Well managed amortisation profile provides flexibility regarding issuance tenor All Tier 2 calls are subject to APRA approval 26% Capital amortisation profile², $m 4,973 Callable Bullet 19% 74% 4% USD 4% 4% 3% AUD Domestic 38% EUR AUD Offshore JPY GBP 28% SGD Funding profile, Notional amount $m 5,637 5,723 3,893 3,811 2,444 2,609 3,437 2,937 2,168 2,609 2,168 1,275 900 539 375 131 0 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31+ FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31+ Callable Bullet Amortisation Scheduled Bullet and Call Date Profile Profile is AUD equivalent based on historical FX, excluding Perpetual Floating rate notes issued 30 October 1986, ANZ NZ $600m floating rate notes issued September 2021 and ANZ NZ USD$500m fixed rate notes issued August 2022. Comprises Tier 2 capital in the form of Capital Securities only (i.e. does not include other Tier 2 capital such as eligible General reserve for impairment of financial assets) Amortisation profile is modelled based on scheduled first call date for callable structures and in line with APRA's amortisation requirements for bullet structures 106#108ANZ 2023 Half Year Results CAPITAL & REPLICATING DEPOSITS PORTFOLIO 1. 2. Australia, % 4 3 2 Portfolio Earnings Rate is a combination of term swap rates (hedged component) and 3mth BBSW (unhedged) Portfolio earnings rate, Average % Australia New Zealand 1H20 1.64% 1.88% 2H20 1.20% 1.40% 1H21 0.92% 1.09% 2H21 0.85% 0.99% 1H22 0.84% 1.13% Mar May Jul Sep Nov 21 21 21 21 Portfolio Earnings Rate 21 Jan 22 Mar May Jul 22 22 22 Sep Nov Jan Mar 2H22 1.32% 1.53% 22 22 23 23 1H23 1.90% 1.93% 3m BBSW (Monthly Average) - 5 Year AUD Swap Rate¹ New Zealand, % 6 Portfolio Earnings Rate is a combination of term swap rates (hedged component) and 3mth BKBM (unhedged) Capital² & replicating deposits portfolio + Volume ($A) Australia ~93b New Zealand ~32b International ~10b 2 Volume Change (HoH) ~6b decrease ~1b decrease flat 0 Mar May 21 21 Jul Sep 21 21 Nov 21 Jan 22 Mar May Jul 22 22 22 Sep Nov Jan 22 22 23 Target Duration Rolling 3 to 5 years Various Mar 23 Proportion Hedged ~78% ~92% Various Portfolio Earnings Rate 3m BKBM (Monthly Average) 5 Year NZD Swap Rate¹ Proxy for hedged investment rate Includes other Non-Interest Bearing Assets & Liabilities 107#109ANZ 2023 Half Year Results CAPITAL & LIQUIDITY FRAMEWORK¹ RBNZ Capital Framework Fundamental Review of the Trading Book (incl. Counterparty Credit Risk) Interest Rate Risk in the Banking Book Loss Absorbing Capacity (LAC) First Half CY2023 Second Half CY2023 CY2024 Implementation Date Transition Consultation Finalise Recovery and Resolution planning Finalise Liquidity Groups Regulation: roadmap for review Transition 2028 Consultation 2026 Consultation Finalise 1. Timeline is based on calendar year and is largely based on APRA's 2023 Information Paper - APRA's Policy Priorities (published February 2023) 2025 2026 2024 2025 Consultation 2025 (TBC) 108#1102023 HALF YEAR RESULTS INVESTOR DISCUSSION PACK RISK MANAGEMENT#111ANZ 2023 Half Year Results LONG RUN PROVISIONS & LOSS RATES 1. 2. Total credit impairment charge, $m 2,000 1,500 1,000 500 0 -500 -1,000 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 2H12 1H13 2H13 1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Commercial IP CP Charge/(Release) Consumer IP Institutional IP ANZ historical loss rates¹, bps Long run loss rate (Internal Expected Loss²), % 250 200 Division Mar 19 Mar 20 Mar 21 Mar 22 Mar 23 150 Aus. Retail 0.19 0.19 0.14 0.12 0.11 100 Aus. Commercial 0.75 0.69 0.76 0.62 0.53 50 New Zealand 0.19 0.19 0.15 0.12 0.10 0 Institutional 0.27 0.25 0.25 0.21 0.19 -50 Sep Sep 90 93 Sep Sep Sep Sep 96 99 02 05 Sep Sep Sep 08 11 14 Sep 17 Sep Mar Pacific 1.60 1.30 1.74 2.65 2.35 20 23 Total 0.27 0.26 0.23 0.20 0.17 IP Loss Rate - Median Annual IP Loss Rate (excl. current period) IP Charge as a % of average Gross Loans and Advances (GLA) Internal Expected Loss (IEL) is an internal estimate of the average annualised loss likely to be incurred through a credit cycle 110#112ANZ 2023 Half Year Results PORTFOLIO REBALANCING SUPPORTS LOWER FUTURE LOSS PROFILE Exposure at Default² (% portfolio) Asset class & historical IP1 Sep 16 Mar 23 Lower loss rates Sovereigns, Mortgages, Banks (~5% of historical IP) Higher loss rates Corporate, 60% 65% Investment grade 17% 21% Specialised Lending (~35% of historical IP) Non-investment grade 16% 11% Personal Loans, Asset Finance, Credit Cards (~60% of historical IP) 1. Historical mix Individual Provisions (IP) 2015 to 2021 2. Excludes Credit Valuation Adjustment and Qualifying Central Counterparties Sold or exited >30 businesses • Growth in "low loss" portfolios while decreasing exposure to "higher loss" portfolios and segments 86% exposure Sovereign, Mortgage, Bank and Investment Grade Corporates Reduced exposure to non-investment grade corporates while increasing collateral cover Non-investment grade exposure Sep 16 Fully Secured 7% Mar 23 7% 7% 3% Partial / 9% 4% Unsecured 111#113ANZ 2023 Half Year Results INDIVIDUAL PROVISION (IP) CHARGE IP charge, $m 380 398 626 395 IP charge by division1, $m 626 1 272 380 398 395 807 187 7 0-3 6 592 35 40 500 49 69 35 532 87 62 375 -8 -30 155 170 266 162 187 247 123 168 201 3 158 175 55 93 93 80 103 54 51 36 195 185 59 69 69 87 -8 11. -30 156 155 15-3 43 14 -245 -214 -274 -280 -268 -227 -352 -300 -267 75 9 -9 47 45 5 21 32 12 -5 -10 -8 -6 -4 -79 -23 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 New Increased Writebacks & Recoveries Ratios IP loss rate (bps)² Total loss rate (bps)² IP balance/Gross Impaired Assets Aus. Retail Aus. Comm. New Zealand Institutional Pacific/Other 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 12 13 20 12 6 2 3 0 -1 13 13 53 33 -16 -2 -9 2 4 42% 40% 42% 36% 33% 35% 37% 38% 35% 1. 2. 1H22 and 2H22 have not been restated to reflect structural changes for Institutional and New Zealand Annualised loss rate as a % of Gross Loans and Advances (GLA) 112#114ANZ 2023 Half Year Results COLLECTIVE PROVISION (CP) BALANCE & CHARGE CP charge, $m CP balance, $m 1.39% 1.17% 1.25% 1.22% 1.17% 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 1.08% 1.07% 0.98% 0.94% CP charge 13 4 1,048 669 -678 -145 -371 60 163 Volume/Mix -28 -51 0 46 -199 -83 -98 -160 -41 3,378 3,376 0 104 Change in Risk -40 19 17 44 -112 -41 -172 -172 24 5,008 4,501 11 696 4,285 4,195 4,040 3,853 746 3,757 760 817 618 727 4,490 4,312 Economic forecast & scenario weights¹ 3,539 99 31 1,124 -106 -417 -31 37 278 100 3,378 3,435 3,272 3,139 3,126 3,223 Additional overlays -18 5 -93 685 50 10 -138 114 1. Includes impact of model changes 2. CP as a % of Credit Risk Weighted Assets (CRWA) 80 60 Mar 19 Sep 19 Mar 20 Sep 20 Mar 21 Sep 21 Mar 22 Sep 22 Mar 23 Modelled ECL Additional overlays CP Coverage² 113#115ANZ 2023 Half Year Results COLLECTIVE PROVISION (CP) BALANCE CP balance by division, $b Provision balance by stage, $b Mar 19 Sep 19 Mar 20 Sep 20 Mar 21 Sep 21 Mar 22 Sep 22 Mar 23 31 March 2022 31 March 2023 Aus. Retail 0.93 0.91 1.18 1.42 1.11 1.07 0.91 0.90 0.95 Aus. Commercial 0.90 0.89 1.14 1.43 1.22 1.16 0.98 0.98 1.03 2.0 Institutional 2.0 1.88 1.77 1.13 1.17 1.59 1.51 1.36 1.35 1.28 1.38 1.45 1.70 1.62 New Zealand 0.37 0.37 0.54 0.57 0.51 Pacific & Other 0.04 0.04 0.05 0.08 0.08 0.53 0.50 0.52 0.54 0.10 1.5 1.5 0.09 0.08 0.07 Total 3.38 3.38 4.50 5.01 4.29 4.20 3.76 3.85 4.04 1.08 1.08 1.0 1.0 0.81 0.81 CP balance by portfolio, $b Corporate 1.59 1.62 2.22 2.30 Mar 19 Sep 19 Mar 20 Sep 20 Mar 21 Sep 21 Mar 22 Sep 22 Mar 23 2.13 2.09 1.87 1.96 2.03 0.5 0.5 Specialised Lending Residential Mortgage 0.18 0.19 0.29 0.32 0.28 0.27 0.23 0.26 0.28 0.49 0.52 0.81 1.06 0.78 0.79 0.71 0.73 0.82 0.0 0.0 Retail (ex Mortgages) Sovereign / Banks 1.05 0.97 1.10 1.25 1.04 0.96 0.87 0.81 0.84 Stage 1 Stage 2 Stage 3 Stage 3 (IP/CP) Stage 1 Stage 2 Stage 3 Stage 3 (IP/CP) 0.07 0.08 0.08 0.08 0.06 0.09 0.08 0.09 0.07 CP Total 3.38 3.38 4.50 5.01 4.29 4.20 3.76 3.85 4.04 IP Australia Retail Australia Commercial Institutional Pacific/Other New Zealand 114#116ANZ 2023 Half Year Results PORTFOLIO COMPOSITION AND COVERAGE RATIOS Gross Loans & Advances Credit RWA Exposure at Default¹ Exposure at Default¹ (ex Sovereign & Bank) Expected Credit Loss (Collective Provision Balance) $694b 3% 2% $1,193b 3% 36% 1% $4.04b 7% $857b 2% 21% 4% 51% 20% Sovereign 56% Financial Institution Corporate $345b 25% 6% 3% 35% 10% 35% 50% Resi. Mortgage 29% 43% 25% Retail (ex Mortgages) 7% 10% 8% 3% 3% Other Mar 23 Mar 23 Mar 23 Mar 23 1% -1%- Mar 23 Coverage Ratios % CP Coverage Total Coverage² 0.58% 0.64% % 1.17% 1.29% % 0.34% 0.37% 1. 2. % 0.47% 0.52% EAD excludes amounts for the 'Securitisation' Basel class, as per APS330. Data provided is on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral Individual Provision balance and Collective Provision balance 115#117ANZ 2023 Half Year Results EXPECTED CREDIT LOSS - ECONOMIC SCENARIOS: MODELLED OUTCOMES (COLLECTIVE PROVISION BALANCE SCENARIOS)¹ Mar 23, $m Economic scenarios Actual Base case 2 CY2021A CY2022A CY2023F CY2024F 31 March 2023 Australia GDP change³ 4.5% 3.6% 2.0% 1.2% 0% Weightings to scenarios to determine CP balance 45% Unemployment rate4 5.1% 3.7% 3.7% 4.2% 40% 15% Resi. property price change³ 21.0% -6.9% -9.2% 4.2% 7,314 New Zealand GDP change³ 5.5% 2.8% 1.4% -0.1% Additional overlays Scenario & weights 100% base case 4,040 Unemployment rate4 3.8% 3.3% 3.9% 5.2% Resi. property price change³ 26.5% -13.0% -9.7% 2.2% Australia peak impacts of economic scenarios Base case Downside Severe Unemployment Peak next 2 years 4.4% 6.9% 10.5% 817 3,272 Resi. property prices Peak to trough drop -16% -23% -45% GDP Lowest over 3 years 1.2% -1.1% -2.8% 1,407 1,816 1,315 1,816 New Zealand peak impacts of economic scenarios Unemployment Peak next 2 years Base case Downside Severe 5.4% 6.8% 8.9% Resi. property prices Peak to trough drop -17% -25% -46% CP balance (ECL) 100% upside 100% base case 100% downside 100% severe GDP Lowest over 3 years -1.1% -2.0% -2.8% 1. The Downside Scenario is specified in terms of an index of economic stress. The economic variables shown represent a characterisation of the scenario to facilitate comparison 2. Subset of a range of economic indicators shown. Economic forecasts also undertaken for international markets 3. 12 months to December Year on Year change 4. Annual average: 12 months to December 5. Peak based on June 2022 quarter 116#118ANZ 2023 Half Year Results IMPAIRED ASSETS 1. Control list, Index Sep 16=100 150 New impaired assets by division, $m 2,000 1,570 1,500 100 1,121 1,000 890 639 50 599 538 500 0 0 Mar Sep Mar Sep Mar Sep Mar Sep Mar Mar 19 Mar 20 Mar 21 Mar 22 Sep 22 Mar 23 19 19 20 20 21 21 22 22 23 Australia Retail Control List by Limits Control List by No. of Groups Australia Commercial New Zealand Institutional Pacific/Other¹ Gross impaired assets by division, $m Gross impaired assets by exposure size, $m 0.35% 0.39% 0.40% 4,000 0.26% 0.21% 0.17% 4,000 3,000 2,599 2,473 3,000 2,599 2,128 2,473 2,128 2,000 1,709 1,445 2,000 1,709 1,210 1,445 1,210 1,000 1,000 0 Mar 19 Mar 20 Mar 21 Mar 22 Sep 22 0 Mar 23 Mar 19 Mar 20 Mar 21 Mar 22 Sep 22 Mar 23 Australia Retail Australia Commercial New Zealand Institutional Pacific/ Other¹ % of GLA < 10m 10m to 100m > 100m Pacific Division customers that rolled off COVID-19 relief packages during 2H22 have subsequently been classified as restructured 117#119ANZ 2023 Half Year Results RISK WEIGHTED ASSETS (RWA) Total RWAs, $b Credit RWA drivers, $b 455 449 438 436 48 4' 48 408 396 48 42 15 47 47 38 2.7 41 44 359.4 13 19 178 144 142 153 163 150 8 8 7 7. -7 8 53 62 2 57 59 56 58 47 46 43 39 40 36 94 91 92 91 93 94 1.3 10.0 0.5 95 -28.5 -0.1 345.3 Model CVA (incl. Mar 23 Reforms Method Hedges) Mar 19 Mar 20 Mar 21 Mar 22 Sep 22 Mar 23 Sep 22 FX Volume Risk Capital / Mix Aus Retail CRWA NZ CRWA Aus Comm. CRWA Other CRWA Institutional CRWA Mkt. & IRRBB RWA Operational RWA¹ IRB Floor adjustment 1. Operational Risk RWA decreased by $6 billion due to adoption APS 115 Capital Adequacy: Standardised Measurement Approach (SMA) to Operational Risk in December 2022 118#120ANZ 2023 Half Year Results RISK WEIGHTED ASSETS & EXPOSURE AT DEFAULT COMPOSITION1 EAD composition, $b EAD & CRWA movement, HoH FX adjusted $b 1. 2. 3. 1,193 1,152 16 1,103 38 8 1,075 40 1,045 -10 742 47 49 9.2 51 10 47 968 45 48 -13 44 251 3.6 56 333 43 305 324 277 272 408 289 307 263 261 205 18.3 14.7 4.4 0.3 0.9 0.7 1.1 1.0 Aus. Retail Aus. Comm New Zealand Institutional Other CRWA Volume/Mix EAD growth Credit RWA / EAD by portfolio³, % 60 59 56 53 50 53 56 55= 54 =51 50' 49 380 381 406 412 415 432 132 36 -36- 33 32 31 27 28 27. 27 27 28 29 11 10 Mar 19 Mar 20 Mar 21 Mar 22 Sep 22 Mar 23 Mar 19 Mar 20 Residential Mortgage Sovereign & Financial Institution (inc. Bank)² Corporate Specialised Lending Retail (ex Mortgages) Other Total Group Corporate & Specialised 7 Mar 21 Retail (ex Mortgages) Residential Mortgage 7 Mar 22 7 Sep 22 11 Mar 23 Sovereign & Financial Institution (inc. Bank)² EAD excludes amounts for 'Securitisation', and for 'Other assets' prior to March 2023 (included from March 2023 due to the implementation of APRA's new capital framework), whereas CRWA is inclusive of these asset classes, as per APS 330. EAD data provided is on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral Due to the implementation of APRA's new capital framework the exposure reported in the Sovereign and Financial Institution (incl Banks) includes non-bank Financial Institutions. Prior to March 2023, non-bank Fls were reported as Corporate Total Group ratio from Mar 21 is inclusive of increased exposure to the RBA via higher exchange settlement account balances 119#121ANZ 2023 Half Year Results TOTAL PORTFOLIO COMPOSITION Exposure at Default (EAD) distribution Category % of Group EAD¹ % of Impaired Assets Gross Impaired to EAD¹ Assets² 1.5% 5.5% Consumer Lending Mar 22 Sep 22 Mar 23 39.3% 37.8% Mar 22 Sep 22 Mar 23 Mar 23 38.3% 0.1% 0.1% 0.1% $449m 1.4% 1.0% 2.2% 1.3% 0.9% 0.6% 6.1% Finance, Investment & Insurance Property Services 27.5% 28.9% 28.2% 0.0% 0.0% 0.0% $18m 6.3% 6.3% 6.1% 0.2% 0.1% 0.1% $84m Manufacturing 3.9% 4.3% 4.1% 0.1% 0.1% 0.1% $35m Agriculture, Forestry, Fishing 3.0% 2.9% 2.7% 0.5% 0.4% 0.3% $86m 38.3% Government & Official Institutions 5.6% 5.6% 6.1% 0.0% 0.0% 0.0% $0m 2.7% TOTAL GROUP EAD Wholesale Trade 2.5% 2.5% 2.2% 0.9% 0.9% 0.2% $42m 4.1% (Mar 23) $1,193b¹ Retail Trade 1.5% 1.5% 1.3% 0.4% 0.3% 0.3% $48m Transport & Storage 1.8% 1.7% 1.4% 1.5% 0.4% 0.3% $52m Business Services 1.1% 1.2% 0.9% 0.4% 0.3% 0.2% $25m 6.1% Resources (Mining) 1.2% 1.3% 1.0% 0.1% 0.1% 0.1% $9m Electricity, Gas & Water Supply 1.4% 1.5% 1.5% 0.1% 0.0% 0.0% $2m Construction 0.8% 0.8% 0.6% Other 4.0% 3.8% 5.5% 0.7% 0.7% 0.8% 0.4% 0.5% 0.5% $57m $303m 28.2% Total Total Group EAD¹ 100% 100% 100% $1,103b $1,152b $1,193b Gross Impaired Assets $1,210m 1. 2. EAD excludes amounts for the 'Securitisation' Basel class, as per APS330. Data provided is on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral Excludes unsecured retail products which are 90+ DPD and treated as Impaired for APS330 reporting 120#122ANZ 2023 Half Year Results COMMERCIAL PROPERTY - SEGMENTS OF INTEREST Outstandings by region, GLA $b Outstandings by sector, % 6% 9% 7% 6% 7% 7% 3% 2% 2% 2% 2% 2% 7.6% 7.6% 7.3% 7.3% 6.9% 7.0% 18% 19% 18% 18% 21% 20% 52.8 50.9 2.2 47.7 2.3 46.5 45.2 2.1 28% 29% 30% 29% 2.4 11.2 42.4 2.1 28% 27% 10.9 2.8 11.0 11.4 10.4 10.7 18% 14% 16% 18% 18% 18% 39.4 37.7 34.6 32.7 32.7 28.9 27% 26% 27% 26% 25% 26% Mar 19 Mar 20 Mar 21 Mar 22 Sep 22 Mar 23 Mar 19 Mar 20 Mar 21 Mar 22 Sep 22 Mar 23 % of Group GLA (RHS) Australia New Zealand International Retail Industrial Offices Residential Tourism Other 121#123ANZ 2023 Half Year Results COMMERCIAL PROPERTY - SEGMENTS OF INTEREST Commercial property collateral 1,2,% 79% of portfolio well secured 2% 32% Cash Backed Fully secured & Sovereign LVR ≤ 50% 45% 7% 96% of unsecured limits are investment grade Rating % A+ to A- 63% BBB+ to BBB- 33% Predominantly Funds & REITS 14% Fully secured Partially secured Unsecured 50% <LVR ≤ 65% Portfolio growth, Mar 23 v Mar 22 Predominantly Australian region across a diversified portfolio of lending segments Portfolio quality, Mar 23 ~ 80% of exposures well secured • >95% of unsecured exposure to investment grade customers Supported by diversified investment grade REITs or assets with stronger fundamentals, stable earnings profile and low gearing • B&C grade office exposure ~$1.9b (2.7% of portfolio) with strong sponsor recourse, cross-collaterisation and moderate gearing International portfolio remains stable with exposure predominantly to large, well rated names in Singapore and Hong Kong (SAR) Negligible direct impact (~$1m) to date from construction industry failures Portfolio approach • Tightened risk appetite settings since the beginning of the COVID: . B&C grade office investment • discretionary retail and accommodation hotels •Residential strategy to support existing customers and grow selectively. Experienced sponsors with strong technical capability, holding land for projects. Strong developer and contractor selection is a well-entrenched discipline in the business 1. Commercial property collateral distribution based on limits (includes drawn and undrawn exposures) 2. Fully Secured: loan amount ≤100% of extended security value; Partially Secured: loan amount >100% of the extended security value 122#124ANZ 2023 Half Year Results ANZ INSTITUTIONAL PORTFOLIO Size & tenor by market of incorporation, $b EAD Mar 231 541 46% 288 29% Industry composition 16% 31% 3% 3% A$541b 4% (Mar 23) 8% 13% 10% 12% Product composition Finance Government Administration & Defence Property & Business Services Services To Finance & Insurance Manufacturing Wholesale Trade Transport & Storage Electricity Gas & Water Supply Other Net Loans, Advances & Acceptances | Contingents liabilities, commitments, and other off-balance sheet exposures Investment Securities Cash Derivatives Trading Securities 4% 54% 127 8% 0% 71% 25% 14% 38% A$541b¹ 75% (Mar 23) Total Institutional International Asia 17% Other Tenor <= 1 Yr 19% Tenor 1 Yr+ 1. EAD excludes amounts for the 'Securitisation' Basel class, as per APS330. Data provided is on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral 123#125ANZ 2023 Half Year Results ANZ ASIAN INSTITUTIONAL PORTFOLIO Market of incorporation ANZ Asia industry composition 3% 4% 6% 19% 3% 10% 2% 3% China 6% A$127b¹ Japan South Korea India 3% 3% 7% A$127b¹ (Mar 23) 9% Singapore Indonesia 24% 7% (Mar 23) 55% Hong Kong (SAR) Taiwan Other 23% 13% Finance Manufacturing Wholesale Trade Services to Finance & Insurance Property & Business Services Transport & Storage Communication Services Government Administration & Defence Other ANZ Asia portfolio composition, % of EAD ANZ Asia product composition 1% 15% Net Loans, Advances & Acceptances Cash 38% 94% 6% Investment Grade Non-Investment Grade 11% A$127b¹ (Mar 23) 14% Derivatives Investment Securities Contingents liabilities, commitments, and other off-balance sheet exposures Other assets 21% 1. EAD excludes amounts for the 'Securitisation' Basel class, as per APS330. Data provided is on a Post CRM basis, net of credit risk mitigation such as guarantees, credit derivatives, netting and financial collateral 124#1262023 HALF YEAR RESULTS INVESTOR DISCUSSION PACK HOUSING PORTFOLIO#127ANZ 2023 Half Year Results AUSTRALIA HOME LOANS - PORTFOLIO OVERVIEW Portfolio¹ Flow² Portfolio¹ 1H21 1H22 1H23 1H22 1H23 1H21 1H22 1H23 Number of Home Loan accounts 1,019k 984k 969k 82k3 95k3 Average LVR at Origination 9,10 71% 70% 65% Total FUM $281b $278b $293b $35b $43b Average Dynamic LVR (excl. offset) 10,1 55% 50% 49% Average Loan Size4 $275k $283k $302k $458k $481k Average Dynamic LVR (incl. offset) 10,11 49% 44% 43% Market share12 14.4% 13.2% 13.2% % Owner Occupied 5 68% 68% 68% 65% 67% % Ahead of Repayments 13 72% 68% 70% % Investor5 30% 30% 31% 35% 33% Offset Balances 14 $35b $38b $41b % Equity Line of Credit 2% 2% 1% 0% 0% % First Home Buyer 8% 8% 7% % Paying Variable Rate Loan 73% 65% 78% 59% 96% % Low Doc 15 2% 2% 1% % Paying Fixed Rate Loan? 27% 35% 22% 41% 4% Loss Rate 16 0.05% 0.01% 0.01% % Paying Interest Only 10% 9% 9% 16% 14% % Broker Originated 54% 52% 52% 53% 64% % of Australia Geography Lending 17,18 % of Group Lending 17 64% 62% 62% 45% 43% 42% Unless otherwise stated metrics are based on balances 1. Home Loans portfolio (includes Non Performing Loans, excludes Offset balances) 2. YTD unless noted 3. New accounts includes increases to existing accounts and split loans (fixed and variable components of the same loan) 4. Average loan size for Flow excludes increases to existing accounts 5. The current classification of Investor vs Owner Occupied is based on ANZ's product category, determined at origination as advised by the customer and the ongoing precision relies primarily on the customer's obligation to advise ANZ of any change in circumstances 6. ANZ Equity Manager product no longer offered for sale as of 31 July 2021 7. Excludes Equity Manager Accounts 8. Based on customers that request a specific interest only period and does not include loans being progressively drawn e.g. construction 9. Originated in the respective year 10. Unweighted based on # accounts and includes capitalised LMI premiums 11. Valuations updated to Feb 23 where available. Includes Non Performing Loans and excludes accounts with a security guarantee and unknown DLVR 12. Source: APRA Monthly Authorised Deposit-Taking Institutions Statistics (MADIS) to Mar 23 13. % of Owner Occupied and Investor Loans that have any amount ahead of repayments based on available redraw and offset 14. Offset balances reflect only those balances linked to Home Loan accounts, restated to exclude balances in offset accounts which are no longer linked to an active Home Loan account 15. Low Doc is comprised of less than or equal to 60% LVR mortgages primarily for self-employed without scheduled PAYG income. However, it also has <0.1% of less than or equal to 80% LVR mortgages, primarily booked pre-2008. Note Low Doc lending at ANZ is no longer offered 16. Annualised write-off net of recoveries 17. Based on Gross Loans & Advances 18. Australia Geography includes Australia Retail, Australia Commercial and Institutional Australia 126#128ANZ 2023 Half Year Results AUSTRALIA HOME LOANS - PORTFOLIO COMPOSITION Home Loan flows (Gross Loans & Advances¹), $b Loan balance & lending flows¹, $b 10 11 18 5 6 50 12 10 7 0 7 7 7 83 278 9 13 6 293 -65 80 8 71 1 23 25 26 27 23 19 Mar 22 16 17 13 New Sales Net OFI Refi. excl. Refi-In Redraw & Interest Repay / Other Mar 23 Home Loan FUM composition1,2, $b -25 -24 -26 -28 -30 -33 -31 -33 -33 269 264 8 31 22 6 10 17 -1 -1 -3 57 52 281 278 22 22 62 62 62 33 293 24 65 -2. -3 186 186 197 161 168 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 Mar 19 Mar 20 Mar 21 Mar 22 Mar 23 New Sales excl. Refi-In Net OFI Refi. Redraw & Interest Repay / Other OO P&I Inv P&I OO I/O Inv I/O Equity Manager 1. Based on Gross Loans and Advances. Includes Non-Performing Loans 2. The current classification of Investor vs Owner Occupied is based on ANZ's product category, determined at origination as advised by the customer and the ongoing precision relies primarily on the customer's obligation to advise ANZ of any change in circumstances. Interest Only (I/O) is based on customers that request a specific interest only period and does not include loans being progressively drawn e.g. construction. ANZ Equity Manager product no longer offered for sale as of 31 July 2021 127#129ANZ 2023 Half Year Results AUSTRALIA HOME LOANS - PORTFOLIO COMPOSITION & FLOW By Purpose, % of total balances By Origination LVR4,5, % of total balances Portfolio 1,2 Flow³ Flow³ 2% 2% 1% 0% 30% 30% 31% 33% 11% 22% 19% 17% 21% 21% 72% 68% 68% 68% 67% 57% 60% Mar 21 Mar 22 Mar 23 1H23 1H21 1H22 1H23 Owner Occupied Investor Equity Manager <80% LVR 80% LVR >80% LVR By Location, % of total balances By Channel, % of total balances Portfolio¹ Flow³ Portfolio¹ Flow³ 6% 6% 6% 7% $281b $278b $293b $43b 12% 11% 10% 9% $34b $35b 15% 15% 15% 16% 36% 46% 48% 48% 33% 33% 33% 30% 42% 47% 64% 34% 35% 35% 38% 54% 52% 52% 58% 53% Mar 21 Mar 22 Mar 23 1H23 Mar 21 Mar 22 Mar 23 1H21 1H22 1H23 VIC/TAS NSW/ACT QLD WA SA/NT Broker Proprietary 1. Includes Non Performing Loans 2. The current classification of Investor vs Owner Occupied is based on ANZ's product category, determined at origination as advised by the customer and the ongoing precision relies primarily on the customer's obligation to advise ANZ of any change in circumstances 3. Based on drawn month 45 4. ANZ Equity Manager product no longer offered for sale as of 31 July 2021 5. Includes capitalised LMI premiums 128#130ANZ 2023 Half Year Results AUSTRALIA HOME LOANS - PORTFOLIO RESILIENCE Home Loans repayment profile 1,2 % of accounts ahead of repayments 40 30 20 20 Home Loans on time and <1 month ahead profile 2,3 % composition of accounts 35% 36% 26% 18% 20% 10 18% 21% 26% Investment: Interest payments may receive negative gearing/tax benefits New Accounts: < 12 months old Structural: Loans that restrict payments in advance eg. fixed rate loans Residual 0 Overdue On Time <1 month ahead Mar 22 Mar 23 1-3 3-6 6-12 months months months ahead ahead ahead 1-2 years ahead >2 years ahead Mar 22 Mar 23 Dynamic LVR based on portfolio balances 14, % >90% Net of offset balances5 60 50 40 30 20 10 Offset account balances5 50 •4.3% of portfolio ⚫46% ahead of repayments² 40 .30% with LMI 10 32 12% 35 12% 36 13% 30 27 10% 28 10% NEGATIVE EQUITY Net of offset balances5 20 20 ⚫1.0% of portfolio ⚫46% ahead of repayments² .18% with LMI 10 38 14% 39 41 14% 14% 15% 10% 5% 0 0% 0 0-60% Mar 22 61-75% Mar 23 76-80% 81-90% 91-95% 96-100% 100%+ Sep 19 Mar 20 Sep 20 LHS: Offset balances ($b) Mar 21 Sep 21 Mar 22 Sep 22 Mar 23 RHS: Offset balances as a % of home loan FUM 1. 2. 3. Includes Non Performing Loans % of Owner Occupied and Investment Loans that have any amount ahead of repayments. Excess repayments based on available redraw and offset. Excludes Equity Manager Accounts The current classification of Investor vs Owner Occupied, is based on ANZ's product category, determined at origination as advised by the customer and the ongoing precision relies primarily on the customer's obligation to advise ANZ of any change in circumstances. Note: hierarchy changed from previous disclosures 4. Includes capitalised LMI premiums and excludes offset balances, accounts with a security guarantee and unknown DLVR. Valuations updated to Feb 23 where available 5. Offset balances reflect only those balances linked to Home Loan accounts, restated to exclude balances in offset accounts which are no longer linked to an active Home Loan account 129#1311. ANZ 2023 Half Year Results AUSTRALIA HOME LOANS - PORTFOLIO RESILIENCE Fixed rate Home Loan expiry profile, $b 27 14 20 18 24 11 ANZ flow borrowing capacity', 1H23 9% 2% 89% Surplus Capacity Minimal Capacity At Capacity 30+ DPD at Mar 23 by fixed rate expiry month 1H22 2H22 1H23 2H23 1H24 2H24 >2H24 1.5 The chart reflects the 30+ DPD as at Mar 23 for all fixed rate loans that expired in the specified month e.g. the 30+ DPD as at Mar 23 for all fixed rate loans that expired in Apr 22 is 0.8% For new ANZ fixed rate loans, serviceability is assessed as: 1.0 • if the standard variable rate (less customer discount) plus the 3% serviceability buffer is higher than the customer fixed rate, then the higher of the standard variable rate (less customer discount) plus 0.8% 0.8% 0.9% 0.8% 0.7% 0.6% 0.6% 0.5% 0.5% 0.5 0.4% 0.3% the 3% serviceability buffer and the floor rate which is currently 5.1% • else the higher of the customer fixed rate plus the 3% serviceability buffer and the floor rate which is currently 5.1% 0.0 Apr 22 May 22 Jun 22 Jul 22 Aug 22 Sep 22 Oct 22 Nov 22 Dec 22 Jan 23 Feb 23 Portfolio 30+ DPD at Mar 23 30+ DPD by fixed rate expiry month Majority of lending 'at capacity' is bridging finance while 'minimal capacity' reflects the proportion of customers with a borrowing capacity of less than $50 of uncommitted monthly income (UMI). Borrowing capacity is determined after income and expense buffers and shading are applied, and based on verified income only therefore the customer's actual borrowing capacity will be higher than what is reflected in the chart 130#132ANZ 2023 Half Year Results AUSTRALIA HOME LOANS - BOOK ORIGINATED AND ATTRIBUTES 1. 2. 3. Home Loans portfolio, Mar 23 Time on Book ($b) 293 > 24 months 55% Origination LVR profile 131 13-24 months 18% 80% or less LVR 82% LMI Customer has 3 months+ savings buffer¹ <= 12 months 27% 23 Yes Yes 13 43% >80% LVR 18% No 57% No 69% 31% Mar 23 Mar 23 Mar 23 Mar 23 Buffers are calculated at customer level, incorporating all Retail debts within the customer cluster at ANZ, and all funds available in ANZ redraw, offset and transaction and savings accounts The serviceability rate is used to assess the customers ability to repay their loan when interest rates rise and includes an interest rate floor and buffer Uncommitted monthly income (UMI) is determined after income and expense buffers and shading are applied, and based on verified income only ANZ has limited exposure to recently originated lending at high LVRs with no LMI, and much of this cohort has savings buffers in excess of 3 months of repayments: $4b of the $293b Home Loans portfolio (or <1.5%) has been on book less than 24 months, has an LVR of greater than 80% with no LMI and less than 3 months savings buffers Of the $4b with less than 3 months savings buffer: • $1.3b (29.5%) are investor loans • $1.2b (29.1%) have a current interest rate higher than the serviceability rate² $583m (13.4%) have UMI³< $100 $90m (2.1%) are one or more payment past due $8m (0.19%) are 90+ DPD 131#133ANZ 2023 Half Year Results AUSTRALIA HOME LOANS - OUTCOME OF RATE RISES 1. 2. 3. ANZ interest rate buffer & floor Home loan applications are assessed at the greater of the customer interest rate plus the interest rate buffer or an interest rate floor Feb 20 Feb 21 Nov 21 Current Floor 5.25% 5.1% Buffer above +2.5% +3.0% customer rate RBA official cash rate Official cash rates (OCR) have risen by 3.75% from low of 0.1% to current rate of 3.85%. 4% 3% ANZ Home Loan Portfolio, Mar 23 Total Portfolio ($b) 293 Current Rate 74% < Assessed Rate¹ Origination LVR profile 76 With the rising rate environment, 26% of customers are now on interest rates higher than their assessed interest rate ~0.7% of the total portfolio is in the higher risk category, of which ~50% had uncommitted monthly income (UMI)³ >$1k at assessment ~$2b composition: • ~$0.5b investor loans ~$1b UMI > $1,000³ ~$11m 90+ DPD 2% 1% Current Rate > Assessed Rate 26% 80% or less LVR 84% Lenders mortgage insurance Customer has 3 months+ savings buffer² 48% 0% Nov Feb >80% LVR 20 21 Apr 22 Jul 22 Oct 22 Jan 23 Apr 23 Mar 23 16% Mar 23 Yes 12 52% Mar 23 69% No Yes 31% /No Mar 23 Accounts with missing assessed rate information are grouped into customer rate ≤ assessed rate based on the assumption that the assessed rate used in the mortgage assessment stage to account for borrower's ability to repay at origination should be higher than the current interest rate. Buffers are calculated at customer level, incorporating all Retail debts within the customer cluster at ANZ, and all funds available in ANZ redraw, offset and transaction and savings accounts Uncommitted monthly income (UMI) is determined after income and expense buffers and shading are applied, and based on verified income only 132#134ANZ 2023 Half Year Results AUSTRALIA HOME LOANS - PORTFOLIO PERFORMANCE Home Loans 90+ DPD (by State) 1,2 % of Portfolio Segment Balances 2.5 2.0 1.5 10 1.0 Home Loans delinquencies 1,2,3,4 % of Portfolio Segment Balances 2.5 2.0 1.5 1.0 0.5 0.0 Mar Sep 18 18 19 Mar Sep Mar 19 20 Sep Mar Sep Mar Sep Mar 20 21 21 22 22 23 30+ DPD % 90+ Owner Occupied 90+ Investor Home Loans 90+ DPD (by vintage)5,% 2.5 2.0 0.5 1.5 1.0 0.5 0.0 VIC & TAS NSW & ACT QLD WA Mar 19 Sep 19 Mar 20 Sep 20 Mar 21 Sep 21 Mar 22 Sep 22 SA & NT Mar 23 Portfolio 0.0 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 FY15 FY16 FY17 - FY18 FY19 FY20 FY21 FY22 1. Includes Non Performing Loans 2. ANZ delinquencies are calculated on a missed payment basis for amortising and Interest Only loans 3. The current classification of Investor vs Owner Occupied, is based on ANZ's product category, determined at origination as advised by the customer and the ongoing precision relies primarily on the customer's obligation to advise ANZ of any change in circumstances 4. 30+ and 90+ between Mar 20 and Jun 20 excludes eligible Home Loans accounts that had requested COVID-19 assistance but due to delays in processing had not had the loan repayment deferral applied to the account 5. Home Loans 90+ DPD vintages represent % ratio of ever 90+ delinquent (measured by # accounts), contains at least 6 application months of that fiscal year contributing to each data point 133#135ANZ 2023 Half Year Results NEW ZEALAND HOME LOANS - PORTFOLIO OVERVIEW Portfolio Flow Portfolio 1H21 1H22 1H23 1H22 1H23 1H21 1H22 1H23 Number of Home Loan Accounts 533k 540k 538k 31k 23k Average LVR at Origination 58% 56% 54% Total FUM NZD95b NZD103b NZD105b NZD14b NZD8b Average Dynamic LVR 37% 35% 39% Market Share² 30.6% 30.7% 30.1% Average Loan Size NZD179k NZD191k NZD194k NZD453k NZD352k % Low Doc³ 0.28% 0.24% 0.21% % Owner Occupied 74% 76% 76% 79% 81% Home Loan Loss Rates 0.00% 0.00% 0.00% % Investor 26% 24% 24% 21% 19% % of NZ Geography Lending 69% 70% 71% % Paying Variable Rate Loan¹ 11% 11% 11% 21% 23% % Paying Fixed Rate Loan¹ 89% 89% 89% 79% 77% % Paying Interest Only 18% 14% 12% 20% 18% % Paying Principal & Interest 82% 86% 88% 80% 82% % Broker Originated 42% 45% 48% 55% 57% 1. Flow excludes revolving credit facilities 2. 3. Source: RBNZ, market share at NZ Geography level Low documentation (Low Doc) lending allowed customers who met certain criteria to apply for a mortgage with reduced income confirmation requirements. New Low Doc lending ceased in 2007 134#136ANZ 2023 Half Year Results NEW ZEALAND LOANS - HOME LENDING & ARREARS TRENDS Home Loan LVR profile¹ Housing flows Housing portfolio 11% 11% 11% 1% 1% 2% 2% 5% 7% 7% 7% 45% 55% 57% 15% 12% 11% 89% 89% 89% 55% 45% 43% 15% 1H21 Proprietary Broker 1H22 1H23 Mar 21 Mar 22 Mar 23 Fixed Variable 76% 77% Housing portfolio by region Market share² 62% 30.6% 30.7% 30.1% 1% -1% -1% 25% 25% 25% 11% 11% 11% 6% 6% 7% 11% 11% 11% 6.4% 6.8% 46% 46% 45% 3.4% 4.4% 1.6% 0.4% Mar 21 Mar 22 Mar 23 Mar 21 Mar 22 Mar 23 0-60% 71-80% 90%+ 61-70% 81-90% Auckland Wellington Christchurch Other Sth Is. Other Nth Is. Other 1H21 ANZ market share System growth 1H22 1H23 ANZ growth 1. Dynamic basis 2. Source: RBNZ, market share at NZ Geography level 135#137ANZ 2023 Half Year Results SHAREHOLDER CENTRE & INVESTOR RELATIONS CONTACTS ANZ Shareholders Centre ANZ Personal Business Institutional Search Shareholder Centre About ANZ Your Shareholding Calendar and events Reporting Investor Toolkit ANZ Shareholder Centre Half Year Results Announcement Friday, 5th May 2023 Quick links Financial calendar Log on Shareholder Contact Find ANZ Contact Log on to Computershare Shareholder ANZ Shares Select other log in Calendar and events Financial calendar Annual General Meeting Key financial dates for the ANZ. Learn more Latest AGM information including notice of meeting. Learn more ANZ Debt Investors Centre ANZ Personal Business Institutional Search Debt investors Debt Strategy Covered Bonds Green and Sustainability Bonds Securitisation Code Ratings Financial results ESG briefing Debt Investor Centre Information pertaining to the latests financial results. 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The ANZ Group comprises our core banking business as well as complementary non-banking businesses. Find out more Equity Investors Jill Campbell Group General Manager Investor Relations +61 3 8654 7749 +61 412 047 448 [email protected] Cameron Davis Executive Manager Investor Relations +61 3 8654 7716 +61 421 613 819 [email protected] Harsh Vardhan Senior Manager Investor Relations +61 3 8655 0878 +61 466 848 027 [email protected] Retail Investors Michelle Weerakoon Manager Shareholder Services & Events +61 3 8654 7682 +61 411 143 090 [email protected] Debt Investors David Goode Head of Debt Investor Relations +61 410 495 399 [email protected] Steven Aquilina Associate Director Debt Investor Relations +61 3 8654 7778 +61 447 744 542 [email protected] 136