30 APRIL 2020RESPONSE TO
COVID-19 PANDEMIC

30 April 2020

ANZ RESPONSE TO THE COVID-19 PANDEMIC
ANZ has taken a range of measures in response to the COVID-19 pandemic to support ourcustomers, employees, the community and the economy. These are summarised below, withgreater detail provided in the attached table.
CUSTOMER MEASURES
During March 2020, we decreased variable interest lending rates for home loan customers by
between 0.40% and 0.50%pa and for small business customers by 0.50%pa, and introduced
low fixed-rate loans for home owners and business customers.
We announced our main COVID-19 support for personal home loan and small business loancustomers on 20 March 2020, including up to six month deferrals of home loan and small
business loan repayments.
Additional assistance available to customers includes support for personal loan and credit cardcustomers; overdraft limit increases for small business customers; a dedicated hotline tosupport customers who need temporary financial assistance prior to the start of the JobKeeper
payments; loans under the Coronavirus SME Guarantee Scheme; and support for corporate andlarge businesses to maintain operations where cash flow is restricted.
As at 24 April 2020, we had received assistance requests for around 105,000 home loan and
42,000 business loan repayment deferrals.1 To meet high levels of demand, we are redeploying
staff and taking steps to process applications more quickly, such as introducing processes toallow home loan customers to accept assistance offers online. We have emailed and sent text
messages to customers to tell them that their application has been received.
INDUSTRYANZ has worked closely with the Australian Banking Association (ABA) and its members to
support banking customers. Work included an industry approach to the ABA small business
relief package; ensuring a deferral on mortgage or other credit products will not affect credit
ratings (provided a customer was up to date with repayments prior to COVID-19); and support
for the new Commercial Property Code of Conduct.
EMPLOYEESWe have moved employees to work-at-home arrangements, split teams and introduced greater
distance between those employees performing essential functions in the office. Approximately
95% of our non-branch employees are working from home. Measures have been introduced for
employees who need to come to work, with protective equipment and social distancing in bankbranches, and thermal scanning in major buildings. We have provided tools to support ourpeople such as a wellbeing app, introduced 10 days’ paid coronavirus-related special leave, andprovided a one-off payment to junior and mid-level employees to help with working from home
expenses.
REGULATION AND EXTERNAL DISPUTE RESOLUTION
Our ability to support our customers has benefited from steps taken by regulators and theAustralian Financial Complaints Authority (AFCA) to manage the effects of the COVID-19
pandemic and strengthen an already strong financial system. For example, ANZ funding has
benefited from Reserve Bank of Australia support for the repurchase operations market andchanges to Exchange Settlement Accounts. Changes by the Australian Securities andRefer ANZ 2020 Half Year Results Presentation and Investor Discussion Pack athttps://www.anz.com/shareholder/centre/. Home loans as at 24 April and business loans as at 20 April 2020.
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Investments Commission and Australian Prudential Regulation Authority to their regulatory
work programs have allowed resources to be refocused on customer assistance. The additionaltime AFCA has granted to provide responses to them about complaints gives banks a further
opportunity to resolve complaints directly with customers. Authorisation by the AustralianCompetition and Consumer Commission has allowed the banks to work together through the
ABA to implement support measures such as the small business relief package.
COMMUNITY SECTOR
ANZ is regularly meeting key banking non-government organisations to ensure that we areaware of and are responding to issues identified by clients of those organisations, and toprovide them with information about our response. ANZ has donated $1.5 million to three of ourcharity partners to provide additional support to some of the country’s most disadvantaged whoare affected by COVID-19.

30 April 2020

ANZ COVID-19 MEASURES
1.

Customer Measures

During March 2020 ANZ announced reductions in variable interest home loan and business loan rates and introduced low fixed-rate rate home and business loans. We also announced anumber of support measures for personal and small business customers to help them through the current COVID-19 pandemic.
MeasureDetails

Home loan and small business interest rates
Decrease in variable interest home loan rates in

We announced on 20 March 2020 a decrease in variable interest home loan rates in Australia by 0.15%pa across all variable rate

Australia by between 0.40%pa and 0.50%pa across all

indices, effective from 27 March 2020.

variable rate indices

For Standard Variable Rate owner occupiers paying principal & interest, the Index Rate was decreased by 0.15% to4.39%pa.



For Standard Variable Rate investors paying principal & interest the Index Rate was decreased by 0.15%pa to 4.99%pa.

For Standard Variable Rate owner occupiers paying interest only the Index Rate was decreased by 0.15%pa to 4.94%pa.

For Standard Variable Rate investors paying interest only the Index Rate was decreased by 0.15%pa to 5.24%pa.

These decreases in variable interest home loan rates followed our earlier decreases between 0.25%pa and 0.35%pa announced
on 3 March 2020, effective from 13 March 2020.

Introduction of a two-year fixed rate of 2.19% for owner

We introduced a two-year fixed rate of 2.19%pa for owner occupiers paying principal and interest – ANZ’s lowest fixed-rate home

occupiers

loan on record.
This measure was announced on 20 March 2020.

Decrease in variable interest small business loan rates

We announced on 20 March 2020 a decrease in variable interest small business loan rates in Australia by 0.25%pa, effective fromin Australia by 0.50%pa

27 March 2020.
This decrease in variable interest small business loan rates followed an earlier decrease of 0.25%pa announced and effective on
13 March 2020, resulting in a 0.50%pa reduction for variable interest small business loan customers during March 2020.

Measure

Details

Introduction of lower rate fixed-rate business loans

We announced on 20 March 2020 a decrease by 0.80%pa to a new two and three-year fixed rate of 2.59%pa for secured small
business loans up to $1 million, effective 3 April 2020.
Applicants must have less than $1 million total business lending with ANZ and must meet ANZ's security requirements.

Personal customer support
Six-month deferral on home loan repayments

Customers can request a deferral of home loan repayments for up to six-months, with a review at three-months. Under a homeloan repayment deferral, customers do not need to make repayments to their home loan for a period of time. Unpaid interest
during this period is capitalised, meaning it is added to the customer’s outstanding loan balance to be paid over the remaining loan
term. This measure was announced as part of ANZ’s COVID-19 support on 20 March 2020.
We are capitalising interest, rather than not charging interest, in order to maintain our capacity to lend and in the overall interestsof customers. Interest is the ‘cost’ of a loan. The cost includes the interest or returns required by people who provide the moneythat banks then lend out (wholesale lenders to banks, depositors and shareholders), the expected losses on loans and the cost of
running the bank. Banks have been able to ‘defer’ receiving interest from borrowers and add it to the principal of the loan (that is,‘capitalise’ it). Deferring or capitalising interest means the bank can continue to lend since we expect the interest will be paid whenthe economy recovers and customers are returned to a better financial position. It also means customers' payment history is not
being affected. If interest were not charged, even for a defined period, the bank would have to report a loss. This would make it
more difficult to lend to others.

Support for personal loan customers

Personal loan customers can request support including payment deferral (with interest capitalised) and waiving of the loanadministration charge for up to six-months, with a review at three-months.
ANZ has options available to customers to help with managing their personal loans, including reducing their repayments to theminimum (if they are making higher repayments) and access to funds in a redraw facility based on the extra repayments acustomer may have paid in the past.

Support for personal credit card customers

Personal credit card customers can request support including payment deferral of minimum monthly payments (with interest
capitalised), waiving of fees and other measures for up to six-months, with a review at three-months.
Further support for customers with personal credit card debt includes options to transfer to a product with lower interest rates,change credit limits, and set up direct payments.

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Measure

Details

Increased contactless card payments limit

We have worked with AusPayNet to temporarily increase the limit for contactless card payments from $100 to $200, in order toreduce the risk of COVID-19 transmission through physical contact with cash or the payment terminal. The limit increase isprogressively being rolled out and may not be available on all terminals and all cards.

Guidance to ANZ Smart Choice Super customers

We have provided information for ANZ Smart Choice Super customers on the ANZ website at anz.com. This includes information
about the Australian Government’s early access to superannuation scheme, insurance and the impact of COVID-19 on balances.1

Advice on branch closures

We publish a daily list of branches which are temporarily closed due to staffing availability or other issues associated with COVID19. The list is available on the ANZ website at anz.com.

Support for passbook account customers

We are contacting customers who currently only have a passbook account to offer them an everyday account with visa debit
access. This account can be set up entirely from their home over the phone. A visa debit card allows customers who usually rely
on cash or EFTPOS to instead pay for goods and services over the phone or online.

Information about COVID-19 assistance

We regularly update a dedicated COVID-19 webpage which outlines the support available to customers.
This webpage is available at anz.com/support/covid-19/.
ANZ CEO, Shayne Elliott, has emailed 4 million customers informing them of the support available and how to access it. Our
newsroom also provides information responding to Frequently Asked Questions about our COVID-19 response and information on
Australian Government support.
Due to the high volume of calls we continue to receive in response to COVID-19, customers can request online a call back. We willcall customers back as soon as possible and they will not be disadvantaged by any delay in ANZ contacting them. We are also
introducing processes to allow home loan customers to accept assistance offers online if they do not need to speak to an ANZ
operator.

1 Note: ANZ’s Pensions & Investments (P&I) business, including Smart Choice Super, is owned by IOOF Holdings Limited (IOOF). The sale of the P&I business to IOOF was completed on 31

January 2020.

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Measure

Details

Business customer support
Six-month deferral on business loan repayments

Impacted business customers can request a six-month payment deferral on loan repayments for term loans, with interest
capitalised. The six-month payment support is available to most ANZ business customers.
For a customer with $1 million in lending, the support equates to $40,000-$50,000 of working capital. If all ANZ’s small andmedium customers were to take up the offer of a payment deferral, more than $2.5 billion would be freed-up for businesses tocontinue operating and employing staff during this time.
This measure was announced as part of ANZ’s COVID-19 support on 20 March 2020.

Support for JobKeeper

We have established a dedicated hotline to help small and medium business customers who are eligible for the Federal
Government’s JobKeeper payments. Customers can call 1800 571 123 or request a call back at anz.com.au/business/covid-19/.
We have also implemented a process to identify which customers need this assistance and prioritise their funding requests until
their payments arrive.

New business loans under the Australian Government’s

Small business customers can apply for new ANZ business loans as part of the Australian Government’s Coronavirus Small andsmall business guarantee

Medium Enterprise Guarantee Scheme:a new three-year business loan up to $250,000, with a six-month deferral on repayments (interest will be capitalised), ora new six-month business overdraft of up to $250,000, with a six-month deferral of interest. At the end of the six-months
customers will have the option of fully repaying the overdraft or rolling the balance into a term loan for up to two and a halfyears.

The loans are available to existing customers up to date with their payments and that are a small or medium-sized business withannual turnover of less than $50 million and not already experiencing financial difficulty. The loan must be used to support current
and upcoming business cash flow needs only (including working capital, liquidity and operating expenditure). For customers
already experiencing financial difficulty prior to the announcement of these measures, additional support measures are assessedon a case by case basis.
Temporary increases in overdraft facilities

Small business and commercial customers can request temporary increases in overdraft facilities for 12 months by up to 10%.
This measure was announced as part of ANZ’s COVID-19 support on 20 March 2020.
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Measure

Details

Six-month deferral on Trade Finance Loan repayments

Small business and commercial customers with an eligible ANZ Trade Finance Loan can request a six-month deferral on their
Trade Finance Loans with interest capitalised.

Merchant terminal fees relief

ANZ Merchant Facility customers can request a three-month waiver of the Rental Fees for their ANZ Electronic Terminals.

Online Marketplace to support small business

Staff can purchase directly from a number of our small business customers through an Online Marketplace, replacing our annual

customers

small business customer Easter Market held in our Melbourne Headquarters.

Information about COVID-19 assistance and other

Our business bankers are working directly with customers to inform them about support available. Due to the high volume of calls,

supportcustomers can request online a call back. We will call customers back as soon as possible and they will not be disadvantaged byany delay in ANZ contacting them.
Severely impacted small and medium business customers are able to access to relief measures specifically to respond to theircircumstances.
We regularly update a dedicated COVID-19 webpage which outlines the support available to business customers.
The webpage includes a series of Frequently Asked Questions to assist businesses to understand what assistance ANZ can offer
them, as well as practical information such as how best to clean merchant terminals to protect their staff and customers.
It also provides links to Australian Government resources which details government assistance available to businesses impacted
by COVID-19.
This webpage is available at anz.com.au/business/covid-19/.

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2.

Community Response

ANZ has worked with our community partners throughout the COVID-19 pandemic.
MeasureMeasure Details$1.5 million to community partners to support

We have donated $1.5 million to three of our charity partners to provide additional support to some of the country’s mostAustralia’s most vulnerable

disadvantaged.
The Brotherhood of St Laurence, The Smith Family and the Financial Counselling Foundation will each receive $500,000 to
support the financial wellbeing of vulnerable Australians. The organisations will use the funds for education, employment, agedcare and financial counselling programs targeted at disadvantaged people further affected by COVID-19.

Double matching employee giving

We are encouraging employees to support our community partners during this time through our workplace giving program, where
ANZ will double match employee donations.

63.

Regulatory and Prudential Response

ANZ has worked closely with regulators as part of the response to the COVID-19 pandemic.
MeasureMeasure Details

CFR, RBA, APRA, ASIC, AFCA and ACCC measures

We are continuing to work closely with banking and financial system regulators, and the Australian Financial Complaints Authority(AFCA), to provide support to customers and manage the impacts of the COVID-19 pandemic. For example:

ANZ funding has benefited from Reserve Bank of Australia (RBA) support for the repurchase operations market andchanges to Exchange Settlement Accounts. ANZ is a regular participant in the repo market and considers that theadditional steps taken by the RBA have alleviated potential liquidity concerns.



The advice of the Australian Prudential Regulation Authority to banks on 19 March 2020 that they may need to utilise
some of their current large buffers to facilitate ongoing lending to the economy has been important for giving flexibility to
the banks.



ANZ has been able to free up resources to focus on COVID-19 related activity as a result of the suspension by theAustralian Securities and Investments Commission on 23 March 2020 of a number of non time-critical activities including
supervision, consultation, regulatory reports and reviews.



AFCA measures to improve external dispute resolution responses have allowed ANZ further opportunity to resolve
complaints directly with our customers and, if required, to identity and provide information to AFCA.



Authorisations by the Australian Competition and Consumer Commission have allowed banks to work together throughthe Australian Banking Association (ABA) to develop important support measures such as the ABA small business relief
package.

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4.

Corporate and Employee Response

ANZ is taking action to ensure the wellbeing of our employees and customers during the COVID-19 pandemic.
MeasureMeasure Details

Protecting our branch employees and customers

In line with Government requirements, we have asked customers to not visit our branches if any of the following have applied tothem:Protecting the wellbeing of our employees

travel overseas in the past 14 dayscontact with someone who has been diagnosed with COVID-19



experiencing fever, breathing difficulties, fatigue, a cough or sore throat.

We have moved employees to work-at-home arrangements, split teams and introduced greater distance between those
employees performing essential functions in the office. Approximately 95% of our non-branch employees are working from home.
We introduced 10 days’ paid coronavirus-related special leave, and provided a one-off payment to junior and mid-level employees
as a contribution towards working from home work expenses.
To protect our employees, we have provided them with information and additional products to ensure good hygiene practices, aswell as taken social distancing measures in our offices, including restricting meetings to video conferencing or phone calls andlimiting the number of people in elevators. Our buildings have extensive measures to keep them as safe as possible, including
thermal screening, regular cleaning, locking down floors, relocating teams and having hand sanitiser and protective gear available
wherever we can.
We have a range of wellbeing resources available for all staff including a digital app, a comprehensive intranet site and webcastswith external medical professionals. We are also providing support for our employees working from home, including to assist themin setting up their home workspaces appropriately, helping them to remain connected to their colleagues, and continuing to provide
access to our Employee Assistance Program.
We are providing links to the COVIDSafe app on our internal social media platform. We are encouraging staff to consider
downloanding it to as a way of improving the ability of our frontline health workers to trace contacts of those who have tested
positive to COVID-19 and protect the workplace.

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