Company: WEBNF
Filing Date: 2025-06-26
Form Type: 424B5
Source: 0001104659-25-062718
Chunk: 40

Company: WESTPAC BANKING CORP
Filing Date: 2025-06-26
Form: 424B5
Chunk 40
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ends payment, the assets of Westpac in Australia are to be available to satisfy, in priority to all other liabilities of Westpac, including the notes:

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first, certain liabilities of Westpac to APRA (if any) because of the rights APRA has against Westpac under Sections 16AI or 16AIC of the Australian Banking Act;

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second, APRA’s costs (if any) in exercising its powers and performing its functions relating to Westpac in connection with the financial claims scheme;

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third, Westpac’s liabilities (if any) in Australia in relation to protected accounts that accountholders keep with Westpac;

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fourth, Westpac’s debts (if any) to the RBA; and

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fifth, Westpac’s liabilities (if any) under an industry support contract that is certified under Section 11CB of the Australian Banking Act.

A “protected account” is either (a) an account where Westpac is required to pay the accountholder, on demand or at an agreed time, the net credit balance of the account, or (b) another account or financial product prescribed by regulation.

Under Section 16(2) of the Australian Banking Act, certain other debts of Westpac due to APRA shall in a winding-up of Westpac have, subject to Section 13A(3) of the Australian Banking Act, priority over all other unsecured debts of Westpac. Further, Section 86 of the Reserve Bank Act provides that in a winding-up of Westpac, debts due by Westpac to the RBA shall, subject to Section 13A(3) of the Australian Banking Act, have priority over all other debts of Westpac. Further, certain assets, such as the assets of Westpac in a cover pool for covered bonds issued by Westpac, are excluded from constituting assets in Australia for the purposes of Section 13A of the Australian Banking Act, and those assets are subject to the prior claims of the covered bond holders and certain other secured creditors in respect of the covered bonds.

The notes are not protected accounts or deposit liabilities for the purpose of the Australian Banking Act, and are not insured by the United States Federal Deposit Insurance Corporation or any other governmental agency or instrumentality.

#### Notes issued as global notes
The notes are expected to be issued in the form of global notes. See “Description of the Senior Debt Securities—Global Securities” in the accompanying prospectus.

#### Defeasance
The notes are subject to our