Australian Housing Dynamics and Affordability

ANZ'S TIER 2 CAPITAL PROFILE¹ ANZ'S TIER 2 CAPITAL REQUIREMENT TO PROGRESSIVELY INCREASE POST TLAC ANNOUNCEMENT • Issued AUD1.75b in July 2019 • Current portfolio includes 38% in AUD (32% domestic AUD) - strong capacity remaining in AUD TIER 2 CAPITAL Notional amount By Format Required portfolio increase from AUD7.6b to ~AUD21b by January 2024 • Annual total T2 issuance expected to be ~AUD4bn • • Potential issuance in multiple currencies in both callable and bullet format • Capacity in EUR T2 with no current outstandings following recent Sep-19 maturity No AUD retail T2 outstanding Extensive global USD T2 investor base ANZ has historically had strong support from Asian local currency markets, both in benchmark and Private Placement format Increased T2 issuance expected to be offset by reduction in other senior unsecured funding • Well managed amortisation profile provides flexibility regarding issuance tenor FUNDING PROFILE Notional amount, AUDm 1. 2. By Currency 6% 6% 7% Bullet 6% 46% Callable 54% 32% CAPITAL AMORTISATION PROFILE² AUDM USD AUD Domestic 43% AUD Offshore JPY SGD CNY 2,937 2,282 1,368 1,068 824 2,444 LL...... 831 735 674 498 131 225 0 FY21 FY22 FY23 FY24 FY25 FY26 FY27 456 456 225 FY20 Scheduled Bullet and Call Date Profile FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 Callable Bullet Amortisation Profile is AUD equivalent based on historical FX, excluding Perpetual Floating rate notes issued 30 October 1986 (which loses Basel III transitional relief in 2021). Any call is subject to APRA's prior written approval and note holders should not expect approval to be given. Amortisation profile is modelled based on scheduled first call date for callable structures and in line with APRA's amortisation requirements for bullet structures. ANZ 11

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