# EDGAR Filing Document

**Accession Number:** 0000719245
**File Stem:** 0001104659-25-105152
**Filing Date:** 2025-11
**Character Count:** 11537
**Document Hash:** 73232fcb1e8a0e80f1f2ca2d1dfe20e7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-105152.hdr.sgml**: 20251103

**ACCESSION NUMBER**: 0001104659-25-105152

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20251103

**FILED AS OF DATE**: 20251103

**DATE AS OF CHANGE**: 20251103

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WESTPAC BANKING CORP
- **CENTRAL INDEX KEY:** 0000719245
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 986008211
- **STATE OF INCORPORATION:** C3
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10167
- **FILM NUMBER:** 251442006

**BUSINESS ADDRESS:**
- **STREET 1:** LEVEL 3, 275 KENT STREET
- **CITY:** SYDNEY
- **STATE:** C3
- **ZIP:** 2000
- **BUSINESS PHONE:** 01161478163167

**MAIL ADDRESS:**
- **STREET 1:** LEVEL 3, 275 KENT STREET
- **CITY:** SYDNEY
- **STATE:** C3
- **ZIP:** 2000

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

**November 3, 2025**

**Commission File Number 1-10167**

<u>WESTPAC BANKING CORPORATION</u>

(Translation of registrant's name into English)

<u>275 KENT STREET, SYDNEY, NEW SOUTH WALES 2000, AUSTRALIA</u>

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports

under cover of Form 20-F or Form 40-F.

Form 20-F ⌧ Form 40-F ◻

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ◻

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ◻

**<u>Incorporation by Reference</u>**

The information contained in this Report on Form 6-K, excluding the information set forth in Exhibit No. 1, shall be incorporated by reference in the prospectuses relating to the Registrant's securities contained in the Registrant's Registration Statements on Form F-3 (File Nos. 333-283007 and 333-283008), as such prospectuses may be amended or supplemented from time to time.

**Westpac sells RAMS mortgage portfolio**

Westpac today announced it has entered into an agreement to sell its $21.4bn RAMS mortgage portfolio to a consortium which includes Pepper Money Limited, KKR and PIMCO. The sale represents the whole of the RAMS branded mortgage portfolio.

The sale is at a slight premium to the gross loan value of the portfolio to be transferred at completion. After transaction costs and other adjustments, a loss on sale is expected.

Following completion, Westpac's common equity Tier 1 capital ratio is estimated to increase by c.20 bps.

Completion of the transaction is subject to various conditions and regulatory approvals and is expected to occur in 2H26.

**<u>Index to Exhibits</u>**

---

| | |
|:---|:---|
| **Exhibit<br> No.** | **Description** |
| &nbsp;&nbsp;&nbsp;[1](tm2528795d10_ex1.htm) | [Westpac sells RAMS mortgage portfolio](tm2528795d10_ex1.htm) |

---

**Disclosure regarding forward-looking statements**

The information contained in this Report on Form 6-K contains statements that constitute "forward-looking statements" within the meaning of section 21E of the U.S. Securities Exchange Act of 1934.

Forward-looking statements are statements that are not historical facts. Forward-looking statements appear in a number of places in this Report and include statements regarding Westpac's current intent, belief or expectations with respect to its business and operations, macro and micro economic and market conditions, results of operations and financial condition and performance, capital adequacy and liquidity and risk management, including, without limitation, future loan loss provisions and financial support to certain borrowers, forecasted economic indicators and performance metric outcomes, indicative drivers, climate- and other sustainability-related statements, commitments, targets, projections and metrics, and other estimated and proxy data.

Words such as 'will', 'may', 'expect', 'intend', 'seek', 'would', 'should', 'could', 'continue', 'plan', 'estimate', 'anticipate', 'believe', 'probability', 'indicative', 'risk', 'aim', 'outlook', 'forecast', 'assumption', 'projection', 'target', 'goal', 'guidance', 'objective', 'ambition' or other similar words, are used to identify forward-looking statements. These statements reflect Westpac's current views on future events and are subject to change, certain known and unknown risks, uncertainties and assumptions and other factors which are, in many instances, beyond Westpac's control (and the control of Westpac's officers, employees, agents and advisors), and have been made based on management's and/or the Board's current expectations or beliefs concerning future developments and their potential effect upon Westpac.

Forward-looking statements may also be made, verbally or in writing, by members of Westpac's management or Board in connection with this Report. Such statements are subject to the same limitations, uncertainties, assumptions and disclaimers set out in this Report.

There can be no assurance that future developments or performance will align with Westpac's expectations or that the effect of future developments on Westpac will be those anticipated. Actual results could differ materially from those Westpac expects or which are expressed or implied in forward-looking statements, depending on various factors including, but not limited to, those described in the risk factors in Westpac's 2025 Risk Factors on Form 6-K filed with the U.S. Securities and Exchange Commission. When relying on forward-looking statements to make decisions with respect to us, investors and others relying on information in this Report should carefully consider such factors and other uncertainties and events.

Except as required by law, Westpac assumes no obligation to revise or update any forward-looking statements in this Report, whether from new information, future events, conditions or otherwise, after the date of this Report.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | <u>WESTPAC BANKING CORPORATION</u> | <u>WESTPAC BANKING CORPORATION</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant) |
| Date: November 3, 2025 | By: | /s/ Esther Choi |
|  |  | Esther Choi |
|  |  | Tier One Attorney |

---

## Ex-1

**Exhibit 1**

---

| | |
|:---|:---|
| ![](tm2528795d10_ex1img001.jpg) | **Westpac Banking Corporation** |
| ![](tm2528795d10_ex1img001.jpg) | Level 18, 275 Kent Street |
| ![](tm2528795d10_ex1img001.jpg) | Sydney, NSW, 2000 |

---

![](tm2528795d10_ex1img002.jpg)

**3 November 2025**

**Westpac sells RAMS mortgage portfolio**

Westpac today announced it has entered into an agreement to sell its $21.4bn RAMS mortgage portfolio<sup>1</sup> to a consortium which includes Pepper Money Limited ("Pepper Money"), KKR<sup>2</sup> and PIMCO.

The sale is at a slight premium to the gross loan value of the portfolio to be transferred at completion. After transaction costs and other adjustments, a loss on sale is expected.

Following completion, Westpac's common equity Tier 1 capital ratio is estimated to increase by c.20 bps.

Westpac Chief Executive Anthony Miller said the sale further simplifies the bank following the closure of RAMS to new business in August 2024.

"This transaction will significantly streamline Westpac's mortgage operations, reduce run costs across the business and provide further strategic flexibility," Miller said.

"Importantly, RAMS customers can continue managing their loans through the RAMS app, website, and call centre and do not need to do anything following today's announcement," he said.

Customers will be supported with any transitional requirements over the coming months.

Completion of the transaction is subject to various conditions and regulatory approvals and is expected to occur in 2H26.

For further information:

---

| | |
|:---|:---|
| **Hayden Cooper** | **Justin McCarthy** |
| Group Head of Media Relations | General Manager, Investor Relations |
| 0402 393 619 | 0422 800 321 |

---

<sup>1</sup> The sale represents the whole of the RAMS branded mortgage portfolio, $21.4bn as at 30 September 2025

<sup>2</sup> KKR is making its investment in the portfolio from managed credit funds and accounts as part of the firm's Asset-Based Finance strategy.

![](tm2528795d10_ex1img003.jpg)

---

| | |
|:---|:---|
| ![](tm2528795d10_ex1img001.jpg) | **Westpac Banking Corporation** |
| ![](tm2528795d10_ex1img001.jpg) | Level 18, 275 Kent Street |
| ![](tm2528795d10_ex1img001.jpg) | Sydney, NSW, 2000 |

---

**About the acquirers**

**Pepper Money**

Pepper Money is one of Australia and New Zealand's leading non-bank lenders. It was established in 2000 as a specialist residential home loan lender in Australia with a focus on providing innovative home loan solutions to customers. Today, Pepper Money has a broad product offering including residential home loans, asset finance, commercial real estate and novated leases in Australia and residential home loans in New Zealand.

**KKR**

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.

**PIMCO**

PIMCO is a global leader in active fixed income with deep expertise across public and private markets. PIMCO invests its clients' capital across a range of fixed income and credit opportunities, drawing upon its decades of experience navigating complex debt markets. PIMCO's flexible capital base and deep relationships with issuers have helped it become one of the world's largest providers of traditional and non-traditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

This document has been authorised for release by Tim Hartin, Company Secretary.

![](tm2528795d10_ex1img003.jpg)