ESG PRESENTATION

CASE STUDY - FAIR AND RESPONSIBLE BANKING HELPING CUSTOMERS TO GET ON TOP OF PERSISTENT CREDIT CARD DEBT 4 CONTACTING CONSUMER CREDIT CARD CUSTOMERS WHO ARE CARRYING PERSISTENT DEBT AND PAYING LITTLE OFF TO GET THEM ON TO LOWER RATE CARDS AND ASSIST THEM TO PAY THEIR DEBT FASTER ANZ announced sixteen commitments that responded to a number of the Banking Royal Commission's recommendations and comments, based on our understanding of what the community expects of us. One of the 16 commitments was helping customers get on top of persistent credit card debt. Why we made this commitment? To build on in-train work and to go to the spirit of Royal Commission process and Final Report. We believe that it is a community standard and expectation that we assist our customers to benefit from our products where we can. We are conscious that we must also take our customers' choices into account when we undertake this type of work. Where we are up to? We have completed this commitment by establishing a process to contact credit card customers who are carrying persistent debt. We provide these customers financial education on how credit cards work and offer assistance plans to help them to pay their debt faster. As at 25 March 2020 we had contacted 18,195 customers, with 4,966 customers responding to our contact. Of those contacted 1,440 customers accepted the offer to transfer to an instalment plan at a reduced interest rate of 7%. A further 1,397 customers appreciated the financial education provided while the remaining 2,115 customers chose to take no action. Note: The program was paused in March 2020 to respond to COVID-19 with support for our customers. This includes support for credit card customers who are worried about managing their credit card debt. Once the situation has settled, the original program will be reassessed so we can continue to support our customers. ANZ 19

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