News Release
For Release: 15 December 2022

ANZ 2022 Annual General Meeting CEO's Address
Thank you Paul and good morning.
I’d also like to acknowledge the Kaurna people as the Traditional Custodians of the land on
which we are meeting and pay my respects to their elders past, present and emerging.
I extend that respect to other Aboriginal and Torres Strait Islander people joining us today,
either here in the room or online.
Ladies and gentlemen, it is pleasing to be back together to meet in person and it’s terrificbeing here in Adelaide.
As the Chairman mentioned, we have a deep history and a strong presence supporting
South Australian customers, the economy and the community.
A recent example of this is the ANZ Community ball held here in Adelaide which has quickly
become one of the preeminent events on the social calendar.
The ball was an initiative driven solely by our team and they can be proud of the impact
they have had with almost $1 million raised since 2018 for worthy local charities.
And as we have done for more than 180 years, we are backing our customers here in SouthAustralia.
Companies like Coopers, featured in the earlier video, who we have banked from thebeginning, and which has gone on to become a significant Australian champion.
Or Drakes Supermarkets, another long term ANZ customer based here in South Australia
who have invested and grown to become Australia’s largest independent grocery retailer.
Growing ANZ is a lot easier when you back those with a great vision, generation aftergeneration.
I believe that strength and our long-term commitment to backing customers, was a key
reason we were recently appointed the sole provider of core-banking services for the South
Australian Government.
This was a very competitive tender, and we were honoured to have been selected.
Your team will be working really hard to make sure we improve on the banking services
provided to the Government for the benefit of citizens, taxpayers and all those driving theeconomy across South Australia.
While Paul outlined the headline results, I wanted to give some more detail on the key
drivers of the business in Financial Year 2022.
First, this was one of the best sets of results we have delivered, demonstrating the benefitsof a simpler, well-balanced portfolio.
Australia and New Zealand Banking Group Limited
9/833 Collins Street Docklands Victoria 3008 Australia
ABN 11 005 357 522

The recent environment has been supportive however, looking back on the year, weachieved our five clear priorities:•••••

We restored momentum in Australian home loans
We successfully launched ANZ Plus, our new Australian Retail platform,
We drove disciplined growth in Institutional and the Commercial division
We completed major regulatory programs as we had committed; andWe continued the simplification and de-risking of the business.

We have four key businesses at ANZ, Institutional, New Zealand, Australia Retail andAustralia Commercial, and they each made a material contribution this year.
Institutional continues to be a key differentiator for ANZ and it’s benefiting from our multiyear transformation as rising rates across the globe create favourable conditions.
The transition from a business driven by lending to a leader in providing banking
infrastructure and services to governments, funds and other financial institutions, has been
dramatic and is one of the reasons we were successful in winning the South AustralianGovernment contract.
New ZealandTurning to New Zealand, we are the country’s oldest and largest bank with a welldiversified, high performing and very well-run business.
In addition to all the services you would be familiar with here in Australia, it’s also worth
reminding shareholders we are New Zealand’s largest private sector fund manager,
overseeing $34 billion in funds under management with good prospects for future growth.
Those who are familiar with New Zealand may know that the Reserve Bank of New Zealandasked the banks to implement one of the largest regulatory programs implemented in New
Zealand banking history.
Known as BS11, after five years of hard work your team have largely completed the work,and this investment means we are well positioned to focus on the future and further build
the New Zealand franchise.
ANZ Plus
Closer to home, with growth restored in Australia Retail, the re-positioning of our Australianretail bank onto the ANZ Plus platform continues with exceptionally strong early signs.
ANZ Plus is effectively a new retail bank and one focused on winning business and driving
better shareholder results by improving the financial wellbeing of our customers.
The early signs are very promising, with strong deposit growth, and extremely positive
customer ratings, particularly with those customers new to the bank.
In fact, as Paul said, deposits and customers are growing at a faster rate than any bankever launched in Australia.
Today, we have more than 113,000 customers – around a third of which are new to thebank – and over $2.3 billion in deposits.
To put this into better perspective, those numbers have more than doubled since weannounced our result at the end of October.

If you are interested in joining, we have an ANZ Plus stand outside the room where we havesome of our team who can help you sign up and take advantage of a great 3.5 per centinterest rate currently available on savings balances.
With our deposit product taking off, we hit a major milestone this month with the launch ofa staff pilot for our new digital home loan.
To be clear, this will not be a fancy digital frontend but paper-based backend like many inthe market offer today, but a fully digital end-to-end experience from application all the way
through to settlement.
That means we will have the capability to accept a loan application from a mobile device andhave it fully assessed, approved and settled without any manual intervention.
We still have more testing to do but will introduce the product to all Plus customers later in2023, initially focused on the re-finance market.
Commercial
So, with other parts of the business performing well, the time was right to focus attention
on the next biggest opportunity, banking small and mid-sized businesses in Australia.
Banking small businesses has always been core to what we do with a strong focus on
trading businesses – sole traders, tradespeople, cafes, restaurants and the like all the way
up to mid-sized manufacturing companies, health service providers and operators rightacross the food and agricultural sector
To fast track this, we separated out our small business segment, creating a stand-alone
Australia Commercial division, and are backing the team with the largest investment in newtechnology and capability that we have ever made.
Last week, I also announced Clare Morgan to join my team as the new Group Executive tolead this division.
Clare is a very experienced banker joining from Commonwealth Bank and I know she will doa terrific job leading the team that is working hard for our customers in Australia. I lookforward to introducing her to shareholders in future.
Another highlight was the commencement of the ANZ Worldline joint venture which willallow us to provide business customers with world-leading point-of-sale and online payment
technology.
Why is this important?
We all know today that paying for goods and services is mostly cashless and there is amyriad of ways to pay and get paid – mainly revolving around those payment devices thatshops and traders have on their service counters, or through an array of online services.
I have been in banking for 30 years and it’s fair to say I have never seen the pace of change
and innovation we are experiencing in this area.
Essentially, there is a technology arms race in the payments space and it’s not feasible for adomestic only operator to bring the world’s best solution. And our customers deserve theWorld’s best solution.
That’s why we were the first bank to offer Apple Pay in 2016 and our customers have neverlooked back.
Security

While on the subject of payments, I know many shareholders are concerned about how weare managing security with the increased risk associated with cyber-crime and scams.
It is a threat environment that is dynamic, rapidly changing and impacting all industries.
First and foremost, protecting customers and the bank remains a key focus. In fact,protecting the bank from criminals has been core since we opened our first branch.
It’s just that now methods have changed, from old fashioned robberies, to sophisticatedcyber-attacks targeting the jewels of today: data. Data about your identity and data about
your money.
In days gone buy we protected our customers by investing in vaults and security guards andtoday we protect customers by investing in digital tools and virtual vaults.
We continued to invest in and improve our cyber defences this year, with the amount spenton cyber now around double what we spent 2016.
We remain on high alert ingesting more than 10 billion data events each day into our 24/7
Security Operations Centre, as part of monitoring and detecting activity across our network.
Yes, I will repeat that – we scan 10 billion data events every day.
As the Chairman mentioned, most of the impact on customers is actually from theincreasing prevalence of scams and we have a team of people outside that are able toprovide you with additional tips on how you can better protect yourself.
Suncorp Bank
This year was also about preparing for the future with a key milestone being the announced
acquisition of Suncorp Bank.
While there is a comprehensive approval process to work through, we believe a stronger
ANZ will be able to compete more effectively in Queensland, offering better outcomes forcustomers.
The acquisition will provide a platform to invest and grow in Queensland, one of the fastest
growing economies in Australia and one in which we believe we have many great
opportunities.
Suncorp Bank has a great brand, a simple business and a terrific team. Our goal is tocapitalise on their strengths and find ways in which we can add value – not just toemployees and customers but to Queensland overall.
In fact, many of you may recall the acquisition of the National Bank in New Zealand in 2004.
This proved to be a very successful acquisition for customers and shareholders alike and amajor reason why we are so successful in New Zealand today.
Now many of the team who managed the integration of National Bank and ANZ in 2013, arestill with us – in fact I was on the NZ Board at the time - so the learnings and experiencefrom that integration will guide us as we seek to replicate the success of that transaction.
Outlook
Looking ahead, the world has entered a period of significant uncertainty.
Central banks are battling to control inflation while geopolitical uncertainty, most notably
the war in Ukraine, continues to weigh heavily.

Closer to home, there are many factors at play. While some indicators are weakening, manyothers support the strong underlying health of the economy.
There is particular stress with regard to cost of living and the resulting rise in inflation
expectations does drag on consumer confidence.
I can’t over emphasise the impact that cost-of-living pressures are having in thecommunity.
While we know some in the community are doing it tough – and we are well positioned tosupport them – our data shows they are entering this period of stress in strong shape.
But our focus is on those customers most exposed to stress. Those with less secure
employment, those who possibly bought homes right at the peak of the cycle, those more
exposed to cost of living increases, or those who have suffered other shocks like family
breakdown or illness.
For those few that will experience stress, we have kept in place the additional hardshipresources we built during COVID. So, while the future is uncertain, both the bank and ourcustomers are well positioned for what may come.
One of the great lessons of COVID was the value of data and the ability to analyse thesestresses at a granular level and proactively intervene.
For example, we can quickly identify home loans that are already in, or approaching,negative equity, actively monitor and help them as needed.
To finish, this was a strong year with all divisions making a material contribution.
There are economic risks ahead but we are entering 2023 in great shape, with positive
momentum, and well prepared for whatever challenges lie ahead.
We achieved what we set to achieve.
We have differentiated strategies for all our businesses and a clear roadmap to continually
improve our technology infrastructure.
The NOHC structure we are voting on later today is an exciting development that will
provide us with greater flexibility and, most importantly, allow us to better meet ourcustomers’ needs.
I’m also confident we have the right team and strategy in place to build a bank you can all
be proud of – a bank which builds on our heritage and culture.
With that let me finish by thanking our team for their hard work and wishing you and yourfamilies a very happy festive season and a prosperous 2023.
Thank you very much.
For media enquiries contact:
Stephen Ries
Head of Corporate Communications
Tel: +61 409 655 551
Lachlan McNaughton
Senior Manager Media Relations
Tel: + 61 457 494 414

Approved for distribution by ANZ’s Continuous Disclosure Committee