Company: WEBNF
Filing Date: 2025-06-26
Form Type: 424B5
Source: 0001104659-25-062718
Chunk: 33

Company: WESTPAC BANKING CORP
Filing Date: 2025-06-26
Form: 424B5
Chunk 33
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Notwithstanding anything to the contrary in the documentation relating to the floating rate notes, if we determine or our Designee determines on or prior to the relevant Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date (each as defined below) have occurred with respect to determining Compounded SOFR, then the benchmark replacement provisions set forth will thereafter apply to all determinations of the rate of interest payable on the floating rate notes.

For the avoidance of doubt, in accordance with the benchmark replacement provisions, after a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, the interest payable for each floating rate interest period on the floating rate notes will be an annual rate equal to the sum of the Benchmark Replacement (as defined below) and the applicable margin.

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TABLE OF CONTENTS

Effect of Benchmark Transition Event

(a) Benchmark Replacement. If we determine or our Designee determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the floating rate notes in respect of such determination on such date and all determinations on all subsequent dates.

(b) Benchmark Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, we or our Designee will have the right to make Benchmark Replacement Conforming Changes from time to time.

(c) Decisions and Determinations. Any determination, decision or election that may be made by us or our Designee pursuant to the benchmark replacement provisions described herein, including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection:

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will be conclusive and binding absent manifest error;

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if made by us, will be made in our sole discretion;

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if made by our Designee, will be made after consultation with us, and the Designee will not make any such determination, decision or election to which we object; and

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shall become effective without consent from any other party.

Any determination, decision or election pursuant to the benchmark replacement provisions not made by our Designee will be made by us on the basis as described above. The Designee shall have no liability for not making any such determination, decision or election. In addition, we may designate an entity (which may be our affliate) to make any determination, decision or election that