Investor Presentaiton

ANZ Capital Notes 9 KEY TERMS: EARLY REDEMPTION, CONVERSION AND RESALE RIGHTS ANZBGL Early Redemption Option Regulatory or Tax Event Change of Control Event ANZBGL may choose to Exchange all or some Notes on issue on 20 March 2031, 20 June 2031 or 19 September 2031, subject to APRA approval ANZBGL may choose to Exchange all or some Notes if a Regulatory Event or a Tax Event occurs, subject to APRA approval • All Notes will mandatorily Convert into ANZGHL Ordinary Shares if a Change of Control Event occurs, subject to satisfaction of certain conditions Exchange Exchange means: . Notes are Converted into a variable number of ANZGHL Ordinary Shares with a value of approximately $101 per Note; . Notes are Redeemed for $100 per Note; Notes are Resold to a purchaser nominated by ANZBGL (that cannot be ANZBGL, ANZGHL or any other Related Entity of ANZBGL) for $100 per Note; or a combination of the above. No Exchange elected by ANZBGL will occur without APRA's prior written approval and unless certain conditions are met, including in the case of Redemption that: . the Notes being replaced concurrently or beforehand with Tier 1 Capital of the same or better quality as the Notes and the replacement of the Notes is done under conditions that are sustainable for ANZBGL's income capacity; or APRA is satisfied that ANZBGL's capital position is well above its minimum capital requirements after ANZBGL elects to Redeem the Notes Holders should not expect that APRA will give its approval for any Exchange. Holder Exchange • Holders do not have the right to request Exchange 27

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