Investor Presentaiton

ANZ 2023 Half Year Results OPERATING EXPENSES Total operating expenses, $m 131 231 30 4,788 4,818 2H22 +1.8% 3.7% 91 4,997 4,906 -274 FX 2H22 FX Adj. Inflation¹ Digitisation² Productivity & regulatory investment reprioritisation 1H23 before the impact of M&A activity & NOHC Impacts of M&A actvity & NOHC³ 1H23 1H23 productivity & regulatory investment reprioritisation Evolving customer acquisition & distribution models Optimised customer servicing & transaction processing Technology modernisation Property & enablement simplification Investment rationalisation/re-prioritisation Continued investment in digital channels; reduced physical presence Further automated & simplified back office; increased customer self-service Reviewed and updated network & software contracts; simplified infrastructure Reduced corporate footprint; ongoing changes to Operating Model Reduced regulatory driven investment Basis: Cash Profit continuing operations 1. Includes revaluation of leave provisions 2. Includes Cloud run & ANZ Plus run costs 3. Includes Suncorp Integration costs, NOHC establishment costs & costs previously attributed to discontinued operations 70 0

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