ANZ - 2021 Annual Review

OUR DIVISIONS Australia Retail and Commercial As our customers navigate the current uncertainty – and their lives in general – we’re here, ready to help with services and strategies to improve their financial wellbeing. Mark Hand | Group Executive Australia Retail and Commercial Banking OPERATING ENVIRONMENT While COVID-19 lockdowns continue to impact business activity and customer spending, we expect economic activity will bounce back once the vaccine rollout is complete. Until then, we remain flexible to help our customers navigate the uncertainty. Our Retail customers are increasing their use of digital and mobile banking options. Home loan activity within the economy is particularly strong. Our Retail customers are working on their financial wellbeing by saving more, reducing debt and reviewing their home loans. Our Commercial customers are tackling the uncertainty by innovating, adapting and reviewing their financial commitments. As we head into 2022, we face considerable challenges including a low-growth and interest rate environment and margin pressures. STRATEGY AND FOCUS We are delivering on our strategy, in line with our purpose by supporting business owners and home owners in uncertain times, as we prepare for a digitally-enabled future. Since 2019, home loan application volumes have doubled, particularly in the refinance market with customers moving to fixed rates, resulting in pressure on our application turnaround times. We have made progress on improving turnaround times for our customers and are increasing our focus on opportunities to automate and simplify. For our business owners, we have identified the need to modernise our platforms and processes to meet customer expectations for efficient and digital service. We have commenced building the foundations through delivering new digital propositions, including our Online Business Lending platform, ANZ GoBiz. We continue to explore innovative ways to support our business owners. In preparation for a digital-enabled future, we have been progressively reshaping our branch network and supporting simpler customer requests digitally. This is a key part of the bank’s transformation agenda. Our customer remediation work is well-progressed and continues to be well-managed and ensure our customers are treated fairly. We have also invested in staff training and a new complaints management system to ensure we are delivering on customer promises and continuously improving our products and services. Looking ahead, our vision is to be the partner of choice for home owners and business owners and to improve their financial wellbeing. To do this we will focus on a small number of purpose- led propositions that serve our customers through a digital-first, human-supported model. As we improve efficiency and reliability, disciplined cost and margin management will remain a key focus. PERFORMANCE HIGHLIGHTS On balance, we have delivered a solid performance across a diverse business while navigating some strong headwinds. Cash profit increased 55% year on year, with growth in both lending and customer deposits, a good margin performance and continued cost discipline. While home loan revenue growth was in the low double digits, second half volumes were impacted by a competitive refinancing market, customers paying down their loans faster and processing issues. We have been working on a range of operational and policy changes and those actions are already having a positive impact on processing times. Customer deposits were up ~$18 billion in the year, with Retail, and Commercial and Private Bank deposits growing 6% and 10% respectively. Many customers are moving their money from term deposits to at-call so they have greater flexibility. Commercial lending remained broadly flat year-on-year in an environment of economic uncertainty and lower levels of business confidence. Despite the weaker demand, lending was up 1% in our business banking segment in the second half. Applications for ANZ GoBiz have averaged 2,900 per-month since launching in May 2021, providing real-time conditional approval through an online platform, including new-to-bank customers. 1. On a cash profit (continuing operations) basis. Excludes non-core items included in statutory profit and discontinued operations and is provided to assist readers in understanding the result of the ongoing business activities of the Group. For further information on adjustments between statutory and cash profit refer to page 57. FINANCIAL PERFORMANCE CASH CONTINUING 1 Cash profit ($m) Growth (%) 55 % Growth (%) 1 % Growth (%) 53 % Growth (%) 8 % 3,617 341,233 2,337 339,381 FY21 FY21 FY20 FY20 Net Loans & Advances ($b) Return on Avg. RWAs (%) 2.21% 252,504 1.44% 234,594 FY21 FY21 FY20 FY20 Customer Deposits ($b) OVERVIEW HOW WE CREATE VALUE PERFORMANCE OVERVIEW REMUNERATION OVERVIEW SHAREHOLDER INFORMATION 26

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