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

3. Page 3 ANZ’s Corporate business is undertaking a similar transformation Perform Grow & Breakout e-Transform Specialise 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. Page 4 specialisation and out-growing Break out Grow Perform Focus:long term ‘destiny’ Benchmark:global industry/players Looking for:transforming moves Horizon:5-10 years Success:dramatic market cap increase Focus: the market Benchmark:competitors in each business Looking for:breakout moves in key 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 Looking for:six monthly delivery Horizon:1-2 years Success:meet/exceed expectations consistently Transforming ANZ through Perform, Grow and Breakout

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

6. Page 6 Our strategy is delivering results...

7. Page 7...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 AAA to BBB+ BBB to BBB- BB + to BB BB- > B Corporate risk grade profile >B = B, B-, CCC & non-accrual ELP charge SP charge Actual SP v ELP charge $m

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

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

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

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

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

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

15. Page 15 Corporate Financial Services Roger Davis Corporate Banking Institutional Banking Transaction Services Foreign Exchange Capital Markets Grow EVA through efficiency and penetration 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 Theme Priorities SystemsCRMMARSB2B eCommerceBrandRisk Management Accountabilities CFS 50% Group 50% Controls are in place to protect synergies and maximise opportunities Structured Finance Securitisation and asset sales Revenue growth initiatives Partnerships and alliances Invest for growth in trade and transactions Defend FX business and grow selectively Maximise franchise and grow selectively Execute strategy selectively

16. Page 16 Summary We are performing well Our corporate portfolio is lower risk We are focussing on 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. Page 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. Page 18 Copy of presentation available on www.anz.com