2021
INVESTMENTS IN ASSOCIATES—UPDATE ON AMMB HOLDINGS

1 MARCH 2021

Australia and New Zealand Banking Group Limited 9/833 Collins Street Docklands Victoria 3008 Australia
ABN 11 005 357 522

IMPACT ON ANZ’S EQUITY ACCOUNTED INVESTMENT IN AMBANKANZ HOLDS A 24% OWNERSHIP INTEREST IN AMMB HOLDINGS BERHAD (AmBank)1As noted in ANZ news release dated 1 March 2021, AMMB Holdings Berhad’s (AmBank) agreement with the Malaysian Ministry of Finance to resolve
potential claims relating to its involvement with 1MDB has the following impact on ANZ’s equity accounted investment in AmBank:• The impact on ANZ’s CET1 capital position will be neutral given its investments in associates are already a full deduction to capital.
• The financial impact on ANZ (A$212m2) will be recorded as part of the equity accounted earnings from AmBank at 1H21.
• The carrying value of ANZ’s interest in AmBank will decrease from ~$1.050bn to ~$850m.
PROFIT & LOSS IMPACT (1H21)
Revenue

CET 1 CAPITAL IMPACT (1H21)$m

Other operating income: ‘Share of associates’ profit’ 2

Impact of this announcementEarnings impact on CET 1 capital$m

Net impact from this announcement

(212)

(212)
Deduction to CET 1 capital
Corresponding change in associate’s carrying value

Net Profit After Tax
Net impact of this announcement2(212)(212)
Net impact on CET 1 capital• Prior period Share of associates’ profit is shown in the 2020 Full Year
Results (FY20 RA) on pages 25 & 26 Other Operating Income.

• Individual associate’s contribution to profit and ownership interests isshown on page 110

NIL• Investments in Associates are a deduction to capital, prior period
deductions are shown in the FY20 RA page 115: Table 2• Prior period carrying value of Investments in Associates is shown on
page 203 of ANZ’s 2020 Annual Report

1.

ANZ acquired its original stake in AMMB Holdings Berhad in May 2007

2.

The equity method is applied to accounting for associates. Under the equity method, the Group’s share of the after tax results of associates is included in income and cash profit. Note this illustrationrefers only to the impact of this announcement and does not present other equity accounted earnings from AMMB; PT Bank Pan Indonesia and Other associates are also recognised in Other Operating
Income ‘Share of associates profit’

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