Investor Presentaiton

Overview CommBank PERLS VIII Capital Notes ("PERLS VIII") PERLS VIII are subordinated, unsecured notes issued by CBA, through its New Zealand branch Offer size Use of proceeds Face Value Term Call Date Distributions Offer Structure Minimum Application ASX quotation A$1.25 billion, with the ability to raise more or less The Offer raises Tier 1 Capital to satisfy CBA's regulatory capital requirements and maintain the diversity of CBA's sources and types of funding The net proceeds of the Offer will be used to fund CBA's business A$100 per PERLS VIII but may be reduced following a Capital Trigger Event or Non-Viability Trigger Event PERLS VIII are perpetual, meaning they have no fixed maturity date and if not Exchanged or Redeemed could remain on issue indefinitely However, on the Mandatory Exchange Date (15 October 2023), CBA must Exchange all PERLS VIII (subject to the Mandatory Exchange Conditions) CBA may Exchange or Redeem PERLS VIII earlier on the occurrence of certain events CBA may in its absolute discretion Redeem or Resell all or some PERLS VIII on 15 October 2021, subject to APRA approval PERLS VIII are scheduled to pay quarterly, floating rate Distributions which are expected to be fully franked Margin to be determined through the Bookbuild and is expected to be between 5.20% and 5.35% per annum The Offer comprises: a Reinvestment Offer - offer to Eligible PERLS III Holders; a Broker Firm Offer - offer to retail investors who are clients of a Syndicate Broker; and a Securityholder Offer - offer to eligible holders of Ordinary Shares, PERLS III, PERLS VI, PERLS VII or Colonial Group Subordinated Notes Minimum Application of 50 PERLS VIII ($5,000) and thereafter in multiples of 10 PERLS VIII ($1,000) Minimum Application does not apply to Eligible PERLS III Holders applying under the Reinvestment Offer It is expected that PERLS VIII will be quoted under code "CBAPE" on ASX 4 Commonwealth Bank of Australia / PERLS VIII Investor Presentation CAN

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