Investor Presentaiton

ROYAL COMMISSION SIXTEEN ACTIONS - UPDATE ON 20 FEBRUARY COMMITMENTS Update on 20 February commitments Commitment Remediation 12. Publicly report on how we are fixing our significant failures, including the nature of the issues and our progress on paying customers back. This will include the remediations identified at the Royal Commission. This transparency will add to our commitment to fix failures fairly and quickly in our Remediation Principles¹ Dispute resolution 13. Commit to public principles on managing complaints and disputes from retail and small business customers and acting as a model litigant if we end up in court with them individually • ANZ has reported half year progress against FY19 Fair and Responsible Banking sustainability targets in respect of remediations. • New Dispute Resolution Principles, incorporating model litigant guidelines, were released publicly on 15 April 2019. 14. Commit to the Australian Financial Complaints Authority's 'look back' under its new limits, appoint our Customer Advocate to lead this work and fully cooperate with AFCA as it resolves disputes Financial Advice 15. Focus on how we provide ongoing financial advice to customers so they always get the service they pay for and value • • • • • The principles apply to our people and our representatives (e.g. external law firms) when managing individual retail and small business customer complaints, disputes and litigation in Australia. ANZ has appointed our Customer Advocate to lead this work and has written to AFCA confirming its consent to consider 'look back' disputes. ANZ will continue to fully cooperate with AFCA as it resolves disputes and is currently scoping work and staffing requirements in preparation to commence resolving these disputes from 1 July 2019. A team manager has been appointed with case manager recruiting being finalised. Workflow systems have been designed and will shortly be implemented. ANZ continues to participate in industry consultation regarding the draft AFCA Rule changes and supplementary Operational Guidelines that set out how the program will operate. ANZ already allows customers to opt in annually to ongoing fee arrangements and is well placed to leverage existing processes and controls to implement these changes on a compulsory basis. We are currently focussed on delivering a new model over the next 12 months where advice is delivered to existing customers and then fees are only charged after the delivery of the advice. In this model there will be no ongoing fee arrangements requiring annual review. On 17 May 2019 ANZ has announced it will no longer offer its Prime Access financial advice service to new customers and will phase it out for current customers over the next 18 months. 16. Tell our customers in writing of areas where our financial advisors may not be independent, impartial or unbiased • ANZ will make amendments to our disclosure documents by July 2019. 1. ANZ's Remediation Principles are set out on page 9 of ANZ's 2018 Annual Review. The 2018 Annual Review is available at: https://shareholder.anz.com/sites/default/files/anz 2018 annual review final.pdf ANZ 38

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