2024

ENERGY CUSTOMERAPPROACH
TRANSITIONING OUR LENDING PORTFOLIO TO NET ZERO FINANCED EMISSIONSBY 2050 IN LINE WITH THE GOALS OF THE PARIS AGREEMENT:OUR APPROACH TO INSTITUTIONAL ENERGY CUSTOMERS2FOREWORD

Our success in supporting and accelerating a transition to net zerofinanced emissions by 2050 in line with the goals of the Paris Agreement
will be driven by supporting our customers to reduce their emissions.
As the largest domestic lender to Australia’s
energy sector, the most carbon intensive partof our economy, we want to support thistransition through our financing solutions.

Our approach to the energy sector outlined in this document is focused on four key aspects:
Engaging with our Institutional energy customers to explore ways in which they
can improve and better implement their transition plans, which may be facilitatedby our financing solutions

This document sets out our approach to
how we are supporting the energy sector
to transition. Words that appear like ‘this’are explained in the glossary. There is also
important information in the disclaimer.
We have disclosed how we areapproaching the transition in othercarbon-intensive sectors in our 2023
Climate-related Financial Disclosuresavailable at anz.com/esgreport.

Building capacity by deepening our employees’ understanding of climate risks
and opportunities

Our overall focus reflects where we canhave the most significant impact: we estimate
our lending to Institutional customers isapproximately 2/3 of our total financed
emissions. The remaining financed emissions
arise from our lending to our commercial andretail customers.

• not directly finance new or expansion:

Image: ANZ Centre, Melbourne.

Setting lending policies for the energy sector:• phase out direct lending to thermal coal miners and coal-fired power plants
by 2030• reduce our exposure at default to upstream gas customers by 40% by 2025
from a 2020 baseline• not onboard new upstream gas customers or provide lending to new to bankcustomers that derive more than 10% revenue from thermal coal mining- upstream gas projects,- thermal coal mines or extension to operating life of existing mines,- coal-fired power plants
Disclosing energy targets and progress in transitioning ourlending to net zero financed emissions by 2050, providing our investors,
customers and other key stakeholders with information annually on our progress3

1. ENGAGING WITH OURINSTITUTIONAL ENERGY CUSTOMERSEngaging with our Institutional energy
customers is crucial to transitioning ourlending to net zero financed emissions
by 2050.

We have four transition plan categories under our enhanced assessment framework for LEEP customers and material energy transactions
A – Advanced B – Well developed C – Underdeveloped/starting out D – No public plans
Examples of customers’ plans within these categories are shown below

Our Large Emitters Engagement Program (LEEP)
provides the framework for engaging withthese customers on their transition plans.
The LEEP customer group includes our largest
emitting energy customers, as well as thoseenergy customers that are subject to the
Safeguard Mechanism in Australia.

GovernanceThrough LEEP we are applying an enhanced
assessment framework to our energy customers’transition plans which includes a sharper focus
on implementation. Our enhanced assessment
framework has four categories. See table to
the right.

Targets

Category A
Strong governance in place
to manage climate risk

Decarbonisation trajectoryis on track for Scope 1 and 2"Paris-aligned" targets
Disclose material
Scope 3 emissions
Incorporates climate change
performance into executive
remuneration

Disclosures

In place/met

TCFD-aligned
reporting

Category C

Category D

Public climate changecommitment

Sustainability and climate
risk discussed with seniorleaders

Acknowledges the need todevelop a transition plan

“Paris-aligned”
2030 emissions reductions
targets for Scope 1 & 2

Has targets to reduce‘emissions intensity’ acrosssome of its operations

No public targets or otherplans to reduce emissions

Acknowledges climate
risk is a material risk andopportunity

We encourage energy customers in LEEP toobtain at least a limited third-party assuranceof their emissions performance and targets.
We continue to seek TCFD-aligned disclosuresfrom these customers.
The enhanced assessment framework is
included in our Climate Change Risk
Assessment methodology, which our bankers
are using to assist their discussions with allenergy customers in the LEEP customer groupin FY24.

Category B

Note: Energy customers will need to achieve
at least a 'B' by end 2025 and also disclose:• Material Scope 3 emissions and any
progress towards reducing those emissions• How company strategy, targets andplanned capital expenditure is alignedwith the Paris goals

TCFD-aligned reporting

Developing sustainability
projects
Developing sustainability
framework

Moving towards TCFDaligned reportingHas not reported against TCFD

In progress

We anticipate that by the end of FY25 we will
have undertaken enhanced customer
engagement with our Institutional energy
customers, and other customers responsible foraround 60% of our estimated Institutional credit
customer portfolio financed emissions1.

1. Includes Scope 1 and 2 (location based) of ANZ’s Institutional credit customers who are ultimate group parents (where possible) with a material credit limit (either through group or subsidiary level). We excluded customers within Project Finance, Financial Institutions, Public Sector, andother customer segments such as services and education, which typically have lower emissions.

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1. ENGAGING WITH OUR INSTITUTIONAL ENERGY CUSTOMERS (CONTINUED)

1a. Additional expectations of ourInstitutional energy customers
We have specific expectations that apply to all
our Institutional energy customers. These are:• that new Institutional energy customers, or newenergy projects, disclose Paris-aligned businessplans. This includes carefully considering theextent to which their company strategy,
emissions reduction targets and planned capital
expenditure are aligned with the Paris goals – tolimit warming to well below two degrees andstriving for 1.5o.
• that by end FY25, existing Institutional energy
customers will:- Establish specific, time bound, public,
Paris-aligned transition plans anddiversification strategies for their businesses.
- Report transparently on climate risks andopportunities outlining how their businesswill be resilient in a range of climate scenarios,
including scenarios aligned with the Paris
temperature goals, and preferably using the
TCFD framework.
- Participate in good practice industry
initiatives that will contribute to reducing
emissions, for example, in the oil and gas
sector, capturing and storing methane in linewith the Methane Guiding Principles.

- Measure and disclose their material Scope 3
emissions and any progress in reducing
those emissions.

1b. Supporting our Institutionalenergy customers to transition withfinancing solutions- Measure and disclose their progress in
reducing other Scope 3 emissions – forexample, by reducing emissions fromshipping and distribution.

We seek to support our Institutional energy
customers by exploring ways in which they can
improve their transition plans. For example,
assisting customers by providing finance, services
and guidance as they invest in new technology,
implement nature-based solutions and adapt
to a lower carbon intensive economy.

We may decline lending and/or reduce our
exposure to projects and customers – new orexisting – that do not meet our expectations
for Institutional energy customers.
We apply an enhanced due diligence for materialenergy transactions which are referred to seniorsubject matter experts for review. Our experts
evaluate the Institutional energy customer’stransition plan using the LEEP customer groupassessment criteria, regardless of whether theenergy customer is part of LEEP.
In some instances, material energy transactions
are escalated for consideration by our Group
Executive Institutional, Group Chief Risk Officer
and Group General Manager, Climate. Typically,
this is where a customer’s transition plan is not yet‘well developed’ (‘Category B’) or ‘advanced’(‘Category A’).

Image: ANZ Centre, Melbourne.

2. For more information see ANZ’s Social and Environmental Sustainability Target Methodology here.

One example of how we are seeking to support
our customers is through our target to fund andfacilitate $100 billion by the end of FY30 in socialand environmental sustainability outcomes,
through customer activities and direct
investments by ANZ 2, which is also available toInstitutional energy customers for transactions
that meet the eligibility criteria such as new
renewable energy projects.

5

2. BUILDINGCAPACITY

3. SETTING POLICIES FOR INSTITUTIONAL ENERGY CUSTOMERS TO
FACILITATE THE TRANSITION TO NET ZERO FINANCED EMISSIONS

None of this can move forward without seeking toensure that our frontline bankers understand our
climate approach to help guide their discussions
with customers on transition plans. That’s why weare deepening these employees’ understanding ofclimate risks and opportunities, including thepotential of new technologies, focusing on our
Institutional bankers in key customer segments
such as the energy sector.

Our Social and Environmental Risk Policy andaccompanying requirements that apply for oursensitive sectors of extractives and energy, guidethe social and environmental factors to be taken
into account by our bankers when considering
Institutional energy customers’ transactions.

We have also put in place ESG@ANZ – Mindset
2030 – a program offered optionally to all
employees – providing access to a central hub
with learning opportunities and pathways.

Gas
We have been clear that we believe gas plays amaterial and important part in meeting Australia’s
current energy needs, and will do so for theforeseeable future. Gas helps firm renewables,
assists the exit of thermal coal and is a criticalfeedstock for the industrial, manufacturing andagricultural sectors. We continue to assess the roleof gas within the context of the broader energy
market, public policy developments, andstakeholder and shareholder expectations. At thesame time, we have policies and have set targets
with clear timebound commitments, to reshape
our lending.
Our targets and policies will see us:• reduce our financed emissions3 for upstream
gas customers4 by 26% by FY30 from a 2020
baseline5. To support achievement of this target,
we will cut our exposure at default by 40% by
the end of FY25 from a 2020 baseline5;• not directly finance new or expansion upstream
gas projects (including new LNG liquefaction
plants, floating production storage anddedicated offloading infrastructure); and• not on board any new upstream gas customers.
Should national energy security issues ariseand our assistance is sought, we will consider
exceptions on a case-by-case basis.
While our targets and policies are primarily
focused on upstream gas customers, they will also
apply where those upstream gas customers haveoil-related extraction activities. For more details
on our policies for oil and gas, please see ourExtractives Industry Policy here.

Thermal Coal Mining
Our remaining direct exposure to thermal coalminers is largely mining rehabilitation bonds,
which will continue to be provided to existingcustomers to ensure their responsibilities withexiting mine sites are fulfilled. We will havecompletely exited other direct exposures by 2030.
To facilitate this exit we will:• not provide lending to new to bank customers
that derive more than 10% revenue fromthermal coal mining.
• engage with existing customers who havemore than 50%6 thermal coal exposure to
support diversification plans. Where these
are not already in place, we will expect specific,

time bound and public diversification strategies
by end FY25. We will cap limits7 to customers
that do not meet this expectation and reduce
our exposure over time. (Note this policy also
applies to power generation customers
outlined below).
• not directly finance any new thermal coal mine,or expansions or extensions to the operating lifeof existing mines. In each case this refers tomines with production or reserves greater than
35% thermal coal. Existing lending will run off
by 2030.

Power Generation
We support the evolution of sectors and thedevelopment of new industries and innovative
business models that underpin the transition. This
will include supporting more diversified energy
companies and increasing our lending to lower
carbon energy projects.
We will:• not directly finance any new coal-fired power
plants, including expansions. Existing direct
financing to coal-fired power generation will
run off by end FY30.
• continue to support existing diversified
customers, but we will not provide lending to
new to bank customers that derive more than
10% revenue or installed capacity or generationfrom thermal coal8.

3. Includes Scopes 1, 2 and 3 (category 11, product use) for companies included in scope, preferably on an equity-based accounting approach where that data is available from customers. 4. Includes customers involved in exploration and production (including dedicated upstream
companies and LNG producers); integrated oil and gas producers, in each case, where ANZ’s exposure is at least AU$10 million. 5. Subject to foreign exchange rates, given that a significant portion of our oil and gas exposures are determined in USD. 6. We will progressively reduce the
50% threshold so that by end 2030 we will seek a diversification strategy from mining, transport and power generating customers with more than 25% thermal coal exposures 7. In addition to rehabilitation bond exposures, transaction banking/markets 3- day settlement limits will be
excluded from this cap. 8. Applies to lending products only, i.e. excludes transaction banking, credit cards, performance guarantees, meaning that only lending products that will help customers ‘fund’ their activities would be excluded.

6

4. DISCLOSING TARGETS AND PROGRESS IN TRANSITIONING
OUR LENDING TO NET ZERO FINANCED EMISSIONS BY 2050

We are progressively setting financed emissions reduction pathways
and targets for key sectors as part of our NZBA commitment. This includes
pathways and targets relevant to our Institutional energy customers.
Key elements of our approach to sectoral pathways
Science based
In setting our sectoral pathways and targets, we use the ‘1.5 degree aligned’ IEA Net-Zero Emissions
by 2050 World Scenario (NZE 2050) for power generation, oil and gas, and thermal coal 9.

Energy sector pathways and targets as at 30 September 2023
See our Climate-related Financial Disclosures and Financed Emissions Methodology for moredetails on our sectoral pathways and targets including the part of each sector’s value chain in
the scope of our target, the customers we focus on and detail on our performance against thetargets (as at 30 September 2023): anz.com/esgreport.

Decision useful metrics
For the energy sector, we have defined a relevant metric and set specific targets and pathways,
disclosed in the table to the right. These targets and pathways provide guidance for our businessteams and senior executives who make decisions on financing Institutional energy customers.
Best available data
We aim to source the highest quality data available, recognising data limitations exist even in
sectors with well-established reporting protocols. To maximise the quality of the data we use to
calculate our financed emissions, we are guided by the Global GHG Accounting and ReportingStandard for the Financial Industry published by the Partnership for Carbon Accounting Financials(PCAF), and have provided data quality scores for absolute emissions of the power generation, oiland gas, and thermal coal sectors. We continue to develop our methodologies to improve data
quality where required, as better quality data becomes available.

ANZ’s Climate-related Financial Disclosures reporting is subject to independent limited assurance.
A copy of KPMG’s limited assurance report is available on page 88-89 of ANZ’s 2023 Climate-related
Financial Disclosures report available at anz.com/esgreport.

9. Further information available on p. 46 of our ANZ 2023 Climate-related Financial Disclosures and our ANZ Financed Emissions Methodology.

Pathways2030 Interim Target

MetricStatusPower Generation

50% reduction(2020 baseline)

Intensity kgCO2-e/MWh

ON TRACKOil and Gas

26% reduction(2020 baseline)

Absolute Mt CO2-e

ON TRACK

Thermal Coal

100% reduction(2020 baseline)

Absolute Mt CO2-e

ON TRACK>10% above pathway<=10% above pathway

On or below pathway

7

4. DISCLOSING TARGETS AND PROGRESS IN TRANSITIONING OURLENDING TO NET ZERO FINANCED EMISSIONS BY 2050 (CONTINUED)

Overview of our Institutional energy customer transition approach

We acknowledge that in some cases, supporting customers’transition plans may mean the emissions intensity of ourportfolio goes up for a period. We consider that supporting our
Institutional energy customers to make real-world reductions inemissions over the longer term is appropriate, provided thosecustomers have, or are in the process of developing by end of
FY25, robust and credible transition plans.
Our FY24 disclosures will include information about ourprogress in including facilitated emissions in our pathways.

Sectors

ANZ approach

Key industry transition strategies
or opportunities for emissions reduction• Increase in renewable energy capacity

01.
Power
generation• Investment in enabling infrastructure andtechnology, such as transmission/distribution
networks and energy storage• Energy efficiency improvements

02.
Oil and Gas• Reduce emissions from own operations byminimising methane leaks, avoidance of
non-emergency flaring and venting• Electrification of upstream operations

03.
Thermal Coal

• Reducing coal mine methane emissions• Use of biofuels and electric powered
alternatives to replace diesel use inmining equipment• Renewable energy investments

KEY
Customer engagement seeking at least a‘well developed’ transition plan by end FY25

Specific policies in place to steer ourlending decisions
Prioritisation of customers with lower
emissions projects, stronger emissions
reduction targets, and diversification
strategies and production

8

4. DISCLOSING TARGETS AND PROGRESS IN TRANSITIONING OURLENDING TO NET ZERO FINANCED EMISSIONS BY 2050 (CONTINUED)

Governance of our approach tosupporting and accelerating a transition
to net zero financed emissions by 2050
Our approach to how we are supporting theenergy sector to transition, along with ANZ’s
overall ESG approach, is primarily overseen by theboard and management through our board Ethics,
Environment, Social and Governance (EESG)
Committee and management Ethics andResponsible Business Committee (ERBC).

OUR GOVERNANCE FOR OVERSIGHT OF CLIMATE-RELATED RISKS AND OPPORTUNITIESANZ GROUP HOLDINGS LIMITED BOARD
KEY BOARD COMMITTEES

Board Ethics, Environment, Socialand Governance Committee (EESG)

Board Human
Resources Committee

KEY MANAGEMENT COMMITTEES AND FORUMSOur Climate Advisory Forum (CAF), chairedby our Group Executive Institutional, oversees
implementation of ANZ’s Climate Change
Commitment – ensuring coordination between
the various workstreams, including ourEnvironmental Sustainability Strategy andour energy sector pathways and targets.
Proposed targets are reviewed by the EESG
and ERBC and are ultimately approved by EESG.
Progress towards our sectoral targets is updated
annually, reflecting the frequency with whichdata (for example emissions data) is reported
by our customers.

Board Risk
Committee

Ethics and Responsible Business Committee (ERBC)
Climate Advisory Forum (CAF)
KEY MANAGEMENT ROLESGroup Executive, Institutional – drives
execution of the Group's Environmental
Sustainability Strategy, including engagement
and opportunities with our largest customers.

Chief Risk Officer – responsible for the Group’s Risk
Management Framework, including the ownershipof risk strategies, policies and procedures supporting
the management of climate-related risks.

Group General Manager, Climate – leads
the Group’s policy response to Climate andrelated market disclosures.

KEY SUPPORT TEAMSESG Governance Team –supports effective
identification andmanagement of theGroup's ESG risks andopportunities through oursenior executive and Board
decision making processes
and structures.

ESG Disclosures andReporting Team – delivers
the Group’s ESG disclosures,
reporting, market briefingsand oversight offorthcoming reporting
standards, practices andframeworks.

ESG Analytics and Advisory
Team – provides subject
matter expertise advice onsocial and environmental
issues affecting our business
lending decisions, such as
public policy, regulation,
emerging community
standards and expectations,and managing thedevelopment of climaterelated metrics and targets.

Social and Environmental
Risk Management Team –provides risk oversightof the Social andEnvironmental Risk Policy
and associatedrequirements and supports
the delivery of workstreams
to improve the Group's
management of social andenvironmental impacts,
including climate-relatedrisks and opportunities.

Institutional Strategic
Planning and Execution
Team – supports ourcustomer engagement
program and the CAF.

9

4. DISCLOSING TARGETS AND PROGRESS IN TRANSITIONING OURLENDING TO NET ZERO FINANCED EMISSIONS BY 2050 (CONTINUED)

Executive remuneration

The transition requires working together

ANZ’s Remuneration Report within our Annual
Report, available at anz.com/annualreport,
details how remuneration outcomes are
determined for our most senior employees.
In general, remuneration outcomes for the
CEO and Disclosed Executives take into
consideration performance against ANZ’sGroup Performance Framework. The 2023 Group
Performance Framework includes the objective:
Making meaningful progress on environmental
sustainability strategies (e.g. fund and facilitate
at least $100 billion by end 2030).

We know that the net zero transition requires
collective action. ANZ collaborates oninternational, national and industry initiatives
to progress climate action and contribute tostandardised frameworks. We are a founding
signatory to the UN Principles for Responsible
Banking and the first Australian bank tosign up to the NZBA.

Performance scorecards for some individuals/
Divisions also include environmental sustainability
measures as relevant to the particular business.
It is important to note that Group/Divisionperformance objectives are not designed tocapture all of our ESG targets – however our seniorleaders are accountable for ensuring we focus andadhere to our commitments outlined in ANZ’s
Climate Change Commitment and policies, withregular review and oversight by the CAF and ERBC.

Image: ANZ Centre, Melbourne.

ANZ Group is a member of a number of industry
associations. We seek to contribute constructively
to public policy formation and understand theperspectives of our community’s elected
representatives, policy makers and regulators.
We also play a role in sharing research and insights,
enabling cross-industry collaboration and support,
to help the economy to transition to net zero.

MORE
INFORMATION
2023 Climate-Related
Financial Disclosuresanz.com/esgreport
2023 Environment, Social andGovernance (ESG) Supplement
anz.com/esgreport
2023 ANZ Financed Emissions
Methodology
anz.com/esgreport
2023 Climate Change
Commitment
anz.com/esgreport
2023 Social & Environment
Sustainability Target
Methodology
anz.com/esgreport
Our Social and Enviromental
Risk Policy
anz.com/esgreport

10

GLOSSARY

Institutional energy
customers

These are customers of our Institutional business (excluding Corporate Bank)
that fall into the following Australian and New Zealand Standard Industrial
Classification (ANZSIC) codes:“ANZ” or “the Group”
or "our" or “us”

Refers to ANZ Group Holdings Limited and its subsidiaries.

Absolute emissions

Total amount of GHG emitted into the atmosphere over a specific period.

1102 – Thermal coal mining

Climate Change Risk
Assessment (CCRA)

An online tool that is used to help guide customer engagement andassess and manage climate-related risks of certain customers in Institutional,
including our LEEP customer group. The CCRA includes an assessment of ourcustomers’ exposure to potential physical risks and transition risks and thematurity of the customer in developing a transition plan.

1200 – Oil & gas extraction

Direct financing /direct finance

Financing that has a direct nexus to an asset, such as limited recourse project
financing or a ‘use-of-proceeds’ or ‘project-related’ corporate loan. It does notinclude general corporate purpose lending.

3611 – Electricity generation

Disclosed Executives

This comprises those personnel with a key responsibility for the strategic
direction and management of the Group (or entity) (i.e., members of the Group
Executive Committee (ExCo)) who have Financial Accountability Regime (FAR)
accountability and who report to the Chief Executive Officer (CEO).

Emissions intensity

Volume of emissions per unit.

FeedstockRaw material that is required for some industrial processes.

Financed emissions

Scope 3 emissions attributable to ANZ’s lending.

FY

A reference to ANZ’s financial year ending 30 September. For example,
FY24 is a reference to ANZ’s financial year ending on 30 September 2024.

Greenhouse gas(GHG)

The greenhouse gases listed in the Kyoto Protocol are carbon dioxide (C02),
methane (CH4), nitrous oxide (N20), hydrofluorocarbons (HFCs), nitrogen
trifluoride (NF3), perfluorocarbons (PFCs), and sulphur hexafluoride (SF6).

1511 – Petroleum exploration
1512 – Petroleum exploration service
2510 – Refining
4521 – Wholesaling / distribution
Institutional energy customers comprise the vast majority of our energy
customers and are responsible for the vast majority of financed emissions fromour energy customers.
LEEP

Our Large Emitters Engagement Program (LEEP). This is our signature customer
engagement program, which provides the framework for engaging with thesecustomers on their transition plans.

LEEP customer group

Customers were identified for inclusion in LEEP based on information available
in August 2023 from: (a) customers who were part of the previous phase of ourengagement program, had operational control over or a major financial stakein any Safeguard Mechanism facility or were included in our sectoral pathway
targets; plus (b) customers that ANZ has otherwise identified as large emittersfor the purpose of our customer engagement. We also assessed whether thecustomer met specific credit limit thresholds and had an ongoing relationshipwith ANZ. Subsequently, the customers were ranked by emissions from highest
to lowest, encompassing Scope 1 and Scope 2 emissions for all customers andScope 3 emissions for Coal, Oil & Gas, and Mining Infrastructure customers. The
top 100 customers with the highest emissions were identified as our 100 largest
emitting business customers for LEEP. ANZ expects that this group of customers
will comprise the LEEP customer group until end FY25, noting that additionalcustomers may be added if a customer in this group ceases its relationship with
ANZ or if engagement for some other reason is not practical.

11

GLOSSARY (CONTINUED)

Material energy
transactions

Transactions involving Institutional energy customers that are likely to havea significant impact on the size or carbon intensity of our energy sector
portfolio or which ANZ considers to represent heightened reputational risk.

Material Scope 3
emissions

Scope 3 emissions falling within Category 11 of the GHG Protocol –use of sold product.

Methane Guiding
Principles

See Methane Guiding Principles.

Net zeroNet zero emissions in this document relates to net zerohuman-made emissions.

New to bankcustomer

A customer with whom ANZ has had no meaningful lending relationshipfor more than 12 months. Entities or assets acquired from existing customers
are not classified as new to bank customers. Applies to lending products only,
i.e. excludes transaction banking, credit cards, performance guarantees,
meaning that only lending products that will help customers ‘fund’ theiractivities in a material way would be included.

New upstream
gas customer

A new to bank customer that is an upstream gas customer.

NZBA

Net-Zero Banking Alliance.

Other Scope 3
emissions

Scope 3 emissions that are not material Scope 3 emissions.

Note: this definition includes customers with oil-related extraction activities.

Safeguard
Mechanism

See Safeguard Mechanism.

Scope 1

Direct GHG emissions from sources owned or controlled by the company.

Scope 2

Indirect GHG emissions from consumption of purchased electricity,heat or steam.

Scope 3

Other indirect GHG emissions not covered in Scope 1 or Scope 2 that
occur in a company’s value chain as described in table 5.2 of theGreenhouse Gas Protocol's Corporate Value Chain (Scope 3) Accounting
and Reporting Standard.

TCFD

Taskforce for Climate-related Financial Disclosures.

Thermal coal miner

An Institutional energy customer within ANZSIC code 1102.

Upstreamgas customer

An Institutional energy customer within ANZSIC code 1200.
Note: this definition includes customers with oil-related extraction activities.

12

DISCLAIMER & IMPORTANT NOTICESThe material in this document contains generalbackground information about the Group’s activities
current as at 30 June 2024. It is information given insummary form and does not purport to be complete.
It is not intended to be and should not be relied upon asadvice to investors or potential investors, and does nottake into account the investment objectives, financial
situation or needs of any particular investor. These should
be considered, with or without professional advice, when
deciding if an investment is appropriate.

Forward-looking statements
This document may contain forward-looking statements or
opinions including statements regarding our intent, belief
or current expectations with respect to the Group’s business
operations, market conditions, results of operations
and financial condition, capital adequacy, sustainability
objectives or targets, specific provisions and risk
management practices. Those matters are subject to risks
and uncertainties that could cause the actual results andfinancial position of the Group to differ materially from theinformation presented herein. When used in the document,
the words ‘forecast’, ‘estimate’, ‘goal’, ‘target’, ‘indicator’,‘plan’, ‘pathway’, ‘ambition’, ‘modelling’, ‘project’, ‘intend’,‘anticipate’, ‘believe’, ‘expect’, ‘may’, ‘probability’, ‘risk’, ‘will’,‘seek’, ‘would’, ‘could’, ‘should’ and similar expressions, as
they relate to the Group and its management, are intended
to identify forward-looking statements or opinions. Thosestatements are usually predictive in character; or may beaffected by inaccurate assumptions or unknown risks anduncertainties or may differ materially from results ultimately
achieved. As such, these statements should not be relied
upon when making investment decisions. There can be noassurance that actual outcomes will not differ materiallyfrom any forward-looking statements or opinions contained
herein. Also see the additional risk factors and explanations
relating to our financed emissions pathways and targets in
ANZ’s Financed Emissions Calculation Methodology.
These statements only speak as at the date of publicationand no representation is made as to their correctness
on or after this date. The Group does not undertake any
obligation to publicly release the result of any revisions
to these forward-looking statements to reflect eventsor circumstances after the date hereof to reflect theoccurrence of unanticipated events.

Climate-related information
This document may contain climate-related statements,
including in relation to climate-related risks andopportunities, climate-related goals and ambitions, climate
scenarios, emissions reduction pathways and climate
projections. While the Group has prepared the statements
in good faith, climate-related statements are subject tosignificant uncertainty, challenges and risks that may affecttheir usefulness, accuracy and completeness, including:
1. Availability and reliability of data – emissions andclimate-related data may be incomplete, inconsistent,
unreliable or unavailable (including information fromthe Group’s clients), and it may be necessary to rely on
assumptions, estimates or proxies where that is the case.
2. Uncertain methodologies and modelling –methodologies, frameworks and standards used for
calculations of climate-related metrics, modelling andclimate data are not universally applied, are rapidly
evolving and subject to change. This may impact
the data modelling, approaches, and targets used in
preparation of this document.
3. Complexity of calculations and estimates – Estimating
financed emissions (including allocating emissions tofinancing activities) and emissions reduction is complex
and relies on assumptions and judgments, often made in
respect of long periods of time.
4. Changes to climate-related governing frameworks –changes to climate-related policy, laws, regulations andmarket practices, standards and developments, including
those resulting from legal proceedings and regulatory
investigations.
5. Lack of consistency in definitions and climate-scienceterminology subject to changes – definitions andstandards for climate-related data and assessment
frameworks used across industries and jurisdictions
may vary, and terminology and concepts relating toclimate science and decarbonisation pathways may
evolve and change over time. These inconsistencies andchanges can also make comparisons between different
organisations’ climate targets and achievements difficult
or inappropriate.

6. Reliance on third parties for data or involvement –the Group may need to rely on assistance, data orother information from external data and methodology
providers or other third parties, which may also be
subject to change and uncertainty. Additionally, action
and continuing participation of third parties, such as
stakeholders, may be required (including financial
institutions and governmental and non-governmentalorganisations).
Due to these uncertainties, challenges and risks, statements,
assumptions, judgments, calculations, estimates or proxies
made or used by the Group may turn out to be incorrect,
inaccurate or incomplete. Readers should conduct theirown independent analysis and not rely on the information
for investment decision-making.
The information in this notice should be read with
the qualifications, limitations and guidance included
throughout this document and in ANZ’s Financed Emissions
Calculation Methodology available here.

anz.com/esgreport

ANZ Group Holdings Limited (ANZ) ABN 16 659 510 791.
9/833 Collins Street, Docklands Victoria 3008 Australia.
ANZ’s colour blue is a trade mark of ANZ.