ANZ Financial Performance Overview

SECTION 3 We have rebalanced the bank's lending portfolio Corporate versus Retail Lines of Business ANZ has refocused the loan book towards lower risk retail lines of business through: 1. Corporate to retail lines of businesses In 2003, Gross Lending Assets are split approx. 66/34% across retail and corporate lines of business (compared with an approx. 43/57% split in 1996) • ANZ's retail lending franchise has been underpinned by robust residential mortgage growth 43% 66% Retail Businesses • Sustained market share gains in the SME segment and a leadership position in asset finance have also contributed to the re-weighting of the loan portfolio towards retail lines of business 57% 34% 2. Non-core to core markets • Further, ANZ has re- orientated its loan book towards domestic lending opportunities and to improving the quality of its international diversification • International exposure, outside our core domestic markets of Australia and NZ, within the loan book has been reduced from approx. 15% of Gross Lending Assets in 1996 to approx. 6% in 2003. Sep-96 Composition of ANZ Loan Book by Key Lending Region 15% 11% 12% 15% Corporate Businesses Sep-03 International Lending Assets Distribution 6% Pacific 13% 9% 81% 77% Asia 32% 70% United Kingdom & Europe 32% Middle East 3% Americas 24% Sep-96 Australia Sep-00 18 NZ Sep-03 International ANZ

View entire presentation