Growth in our Corporate Portfolio

1. Growth in our Corporate Portfolio Presentation to UBS Warburg Financial Services Conference Sydney, 6 June 2001 Roger Davis Group Managing Director Australia and New Zealand Banking Group Limited

2. ANZ is executing a distinctive strategy Proposition Strategy Implications • Entrepreneurial • Reconfigure ANZ • Specialist specialists create as a portfolio of 16 approach to Specialise more value specialist customer and businesses product businesses • Corporations • An e-Bank with a • Transform the must embrace human face way we do e-Transform new technologies business with IP technology • Value depends on • Drive results, • Meet Perform Grow performance, invest in growth expectations, & Breakout growth and businesses and fund growth by breaking out create new cost reduction, paradigms transform

3. Specialise e-Transform Perform Grow & Breakout ANZ’s Corporate business is undertaking a similar transformation Reorganised into separate customer and product centric businesses Created 9 distinctive industry segments in the Institutional sector Secured a #1 rating for banker quality, creative ideas and knowledge Maintain top 3 leadership position in FX (#1); Derivatives (#1/#2); non-vanilla Securitisation (#1); CP (#1); Syndications (#1) e-Enable commodity functions and processes Trade - Magellan/Proponix FX - Atriax; FX On-line Capital Markets – Aus Markets Cash – Web-Pay; Identrus; PKI Procurement – ANZ e-Biz; MRO; Mosaic “Customer Obsession” – leverage centricity and market penetration (#1) Share of Wallet –v- Share of Market Emphasis Product driven growth initiatives Double earnings by 2004

4. Transforming ANZ through Perform, Grow and Breakout • Focus: long term ‘destiny’ • Benchmark: global industry/players • Looking for: transforming moves Break out • Horizon: 5-10 years • Success: dramatic market cap increase • Focus: specialisation and out-growing the market • Benchmark: competitors in each business • Looking for: breakout moves in key Grow businesses (eg QTV, Origin) • Horizon: 3-4 years • Success: 4-5 moves taking share and worth ~A$1b+ market cap each • Focus: performance • Benchmark: market expectations Perform • Looking for: six monthly delivery • Horizon: 1-2 years • Success: meet/exceed expectations consistently

5. The Corporate portfolio plays a major role in ANZ’s future Corporate Businesses (by 1H 2001 NPAT) ANZ Group Segments (by 1H 2001 NPAT) Global Transaction Services $54m Intnl & Subs 15% Global Foreign Exchange $40m Global Structured Finance $85m Personal Global Capital Markets $24m Corporate 46% 39% Institutional Banking $88m Corporate Banking $65m

6. Our strategy is delivering results...

7. ELP charge SP charge ...and a low risk profile • Risk actively managed • Quarterly strategy reports prepared for all high risk accounts • June to October 2000 - all BB rated accounts within Corporate reviewed in expectation of downturn Corporate risk grade profile AAA to BBB+ Actual SP v ELP charge BBB to BBB- $m BB + to BB BB- > B >B = B, B-, CCC & non-accrual

8. Credit quality is sound in some of our larger industry exposures - Australia x Lending Assets (AUDm) % of Portfolio (RHS scale) % in CCR 7D-8G (RHS scale) % in CCR 9-10 (RHS scale) Manufacturing Retail Trade Real Estate Operators & Dev. Accomm. Cafes & Restaurants Construction Agriculture

9. All Corporate units are targeting revenue growth to exceed cost growth Cards High GFX GSF Wealth Asia GCM GTS Asset Fin ANZ Investments Nominal GDP Growth Revenue Growth 01-03 CAGR Pacific Small Bus Inst Bank Mortgages Metro & Regional Cost to Income falling Corp Bank Bubble size in proportion to 2001 NPAT Illustrative Low Low High Operating Expense Growth 01-03

10. We are on track to meet our commitment to double profit by 2004 Double 1999 NPAT - required CAGR of 15% $m Actual NPAT * Annualised NPAT for 1H 2001

11. Our main focus is on growing total wallet share Focus on deeper # Customers penetration of existing • Grow wallet share • New high value • products • New delivery • mechanisms • Improved cross- • sell • Increased sale of • 3rd party products CFS customer base Potential revenue ~$1.3b ~5,000 Total wallet FY 2000 revenue of ANZ customer $1.7b base ~$8.5b 0 ~20%* ~35% Share of Customer Wallet * source: internal estimate

12. The elements of our growth Growth is... Dynamic Organisational implications • Non-balance sheet, • fee income based • Less capital intensive • Technology Based • Growth opportunities can also leverage technology: • Atriax, AusMarkets • Proponix • PICI • e-Payments • Infrastructure plays • Opportunistic • New customers • New products/initiatives • New geographies • New Product Focussed • Credit derivatives • Infrastructure equity (Morrison) • Private equity • Soft & base metal commodities • Securitisation (new) • Equity derivatives • Challenging • Competition • Limited geographic footprint • Balance sheet & risk • Time & technology • Regulatory tax accounting • Customer rich franchise • Client Constrained • Wallet share offers better growth opportunities

13. Our customer focus is the critical foundation… New technology platforms such as MARS (Management Analysis Reporting System) provide critical support for CRM & CVM activities Putting our corporate customers first, is a key retention & service value strategy for us Source: Roberts Research, Survey 2000

14. Deepening penetration of our high value, predominantly fee based products

15. Controls are in place to protect synergies and maximise opportunities Corporate Financial Services Roger Davis Accountabilities CFS 50% Group 50% Corporate Banking Institutional Banking Transaction Services Foreign Exchange Capital Markets Structured Finance Grow EVA through efficiency and penetration Grow EVA through efficiency and penetration Invest for growth in trade and transactions Defend FX business and grow selectively Maximise franchise and grow selectively Execute strategy selectively Theme • Middle market wallet share • Back office technology and processes • Staff recruitment and training • Customer and product interface • Customer management systems • Staff recruitment and training • Trade finance system and benefits • Streamlined organisation • Growth strategies for high potential products • Revenue momentum • eFX-based initiatives • Global commodities business • High IP product growth • Cost reduction initiatives • Staff recruitment and retention • Securitisation and asset sales • Revenue growth initiatives • Partnerships and alliances Priorities Systems CRM MARS B2B eCommerce Brand Risk Management

16. Summary • We are performing well • Our corporate portfolio is lower risk • We are focussingon non-lending • fee income as we transition from • being a balance sheet based • business to being an intellectual • capital services firm • Our new strategy is creating value • and better positioning us for growth • We are differentiating ourselves • through our Breakout program We are on track to continue growing strongly

17. The material in this presentation is general background information about the Bank’s activities current at the date of the presentation. It is information given in summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate. For further information visit www.anz.com or contact Philip Gentry Head of Investor Relations ph: (613) 9273 4185 fax: (613) 9273 4091 e-mail: gentryp@anz.com

18. Copy of presentation available on www.anz.com