ANZ Financial Performance Overview

SECTION 6 US Energy Portfolio - • Management has been proactive in addressing Group exposure to the global energy sector Concentration risk associated with exposure to energy lending as a issues remain, but exposure continues to reduce Total Limits (Excl Settlement) $1.8bn $1.7bn proportion of the aggregate loan book has been mitigated by management AAA to BBB 36% 30% $1.3bn initiatives to exit or restructure a number of key corporate lending positions in the US 28% BBB- 16% 22% • 15% Outstandings $0.9bn (65%) • A number of high risk exposures remain, and are BB+ to 27% 23% 18% being actively managed (including sell down in secondary markets). BB- Other Committed $0.4bn (30%) 24% • We expect further specific B+ to CCC 12% 14% provisions but at a reducing Non Uncommitted <$0.1bn (5%) rate and that these can be absorbed within ELP 9% 11% 15% Accrual Sep-02 Mar-03 Sep-03 No of Cust (Total 20) Investment Grade 51.6% 51.5% 43.0% 9 Non Accrual 9.2% 10.8% 14.8% 4 Specific Provisions (AUD) 9.7m (six months) 9.1m 46.1m n/a Note: 1. Includes utilised guarantees and market related products 2. Includes US domiciled exposures only (Excludes Mexico) 50 ANZ

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