Revised Dividend Reinvestment Plan Terms

DIVIDEND
REINVESTMENT
PLAN

DIVIDEND REINVESTMENT PLAN
2
Shareholders should obtain their own
professional advice on the financial and tax
implications of participating in the Dividend
Reinvestment Plan.
Given the complex nature of taxation and of other
legislation, the variety of jurisdictions involved, and
the diverse taxation and financial circumstances
applying to ANZ shareholders, ANZ cannot take
responsibility for any advice expressed or implied
in this publication. In addition, changes to taxation
laws and other legislation may occur subsequent
to the preparation of this booklet.
Shareholders should obtain their own professional
advice in relation to the financial and taxation
implications of participating in ANZ’s Dividend
Reinvestment Plan. This booklet does not contain
the information which would be contained in a
prospectus. It is limited to general shareholder
information only and relates only to ANZ’s
ordinary shares.

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1. WHAT IS THE DRP?
The DRP enables eligible holders to increase their ANZ shareholding
by reinvesting the dividends payable on their ANZ ordinary shares
in additional ANZ ordinary shares. No other ANZ securities can
participate.
Participation is optional and non-transferrable.
2. WHY PARTICIPATE?
Participants do not pay brokerage, commission or other transaction
costs on ANZ ordinary shares which are allocated under the DRP and,
presently, no stamp or other transaction duties are payable by DRP
participants. DRP participation does not affect a holder’s eligibility for
franking credits. All ANZ ordinary shares provided under the DRP rank
equally with all other fully paid ANZ ordinary shares on issue.
There is no fee from ANZ for participating in the DRP.
3. WHO CAN PARTICIPATE?
Subject to the restrictions set out below, holders of ANZ ordinary
shares which / who are entitled to receive a dividend payment may
participate in the DRP for an Eligible Dividend.
Until ANZ’s Board decides otherwise, DRP participation is not
available directly or indirectly to any holder of ANZ ordinary shares
(legal or otherwise):
– resident in (or who is acting on behalf, or for the account or benefit,
of an entity or person who is resident in) the USA, its possessions or
territories, or Canada; or
– any other country whose laws make the holder ineligible to
participate.
Shareholders are responsible for confirming their eligibility to
participate in the DRP and for obtaining any government approvals
required in connection with the allotment or allocation of ANZ
ordinary shares under the DRP.
4. HOW TO PARTICIPATE?
Shareholders can elect to participate in the DRP, vary their
participation or withdraw from the DRP online at
anz.com/easyupdate.
Alternatively, shareholders can contact ANZ’s Share Registrar,
Computershare, to obtain a copy of the Election form to complete
and return.
5. WHEN WILL MY PARTICIPATION BEGIN?
If your Election is accepted, participation in the DRP will commence in
respect of the next Eligible Dividend.
Please note, there is a cut-off date for ANZ’s Share Registrar,
Computershare, to receive DRP Elections in order to participate in the
next Eligible Dividend. Please contact Computershare if you wish to
find out when the last day is for making a DRP Election. If you miss this
date, your Election, if accepted, will apply in relation to the following
Eligible Dividend.
This booklet, including the Terms and Conditions, provides
important information about participating in ANZ’s Dividend
Reinvestment Plan (DRP). Please read it carefully if you are
considering making an election to participate in the DRP.
QUESTIONS AND ANSWERS
Capitalised terms not defined in these questions and answers have the meaning given to them in
the Terms and Conditions. These questions and answers are for general information only, and do not
override the Terms and Conditions to the extent of any inconsistency.
DIVIDEND
REINVESTMENT PLAN
NEED ASSISTANCE?
shareholder.anz.com
anzshareregistry@computershare.com.au
Computershare Investor Services Pty Limited
GPO Box 2975 Melbourne
Victoria 3001 Australia
1800 113 399 (within Australia)
0800 174 007 (within New Zealand)
+61 3 9415 4010 (outside Australia)

DIVIDEND REINVESTMENT PLAN
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6. HOW DOES THE DRP INTERACT WITH
ANZ’S BONUS OPTION PLAN?
ANZ also has a Bonus Option Plan (BOP). If you make an Election to
participate in the DRP and also an election to participate in ANZ’s BOP,
the BOP election will have priority over the DRP Election to the extent
of any conflict.
IMPORTANT:
If you participate in ANZ’s BOP and wish to participate in the
DRP instead, you will need to ensure that your BOP election
is terminated first. If you wish to partially participate in both
the DRP and the BOP, you must ensure that your DRP and BOP
elections are for the correct number of ANZ ordinary shares each
and that there is no overlap.
7. HOW DOES THE DRP INTERACT WITH
ANZ’S MANDATORY DIRECT CREDIT
PAYMENT POLICY?
ANZ has a policy that all dividends payable to shareholders in
Australia, New Zealand and the United Kingdom will be paid by direct
credit into their nominated financial institution account (excluding
credit card accounts).
Any DRP Election will have priority over the submission of Direct
Credit instructions to the extent of any conflict.
10. HOW MANY ANZ ORDINARY SHARES
WILL I RECEIVE UNDER THE DRP?
This is worked out according to a formula. The number of ANZ
ordinary shares allocated is calculated by reference to the arithmetic
average of the daily volume weighted average sale price of ANZ
ordinary shares sold on applicable trading platform/s (currently ASX
and Chi-X) during the relevant pricing period, less any discount as
determined by the Board.
If you participate in ANZ’s DRP and instead wish to receive
dividend payments into your nominated financial institution
account, submitting a new Direct Credit instruction will not
override the DRP Election. You will need to formally terminate
your participation in the DRP first.
8. WHAT HAPPENS IF I HAVE MORE
THAN ONE HOLDING OF ANZ ORDINARY
SHARES?
An Election to participate in the DRP relates to a particular holding
under a holder identification number (HIN) / securityholder reference
number (SRN). If you hold ANZ ordinary shares under more than one
HIN / SRN and want more than one holding to participate, you will
need to submit multiple Elections.
9. CAN I ELECT TO PARTIALLY
PARTICIPATE IN THE DRP?
Yes. Shareholders can elect full DRP participation (all ANZ ordinary
shares under a particular holder number) or partial DRP participation
(a nominated number of a holder’s ANZ ordinary shares as specified
in the Election).
EXAMPLE:
Jacqui holds 1,000 ANZ ordinary shares and wants to fully
participate in the DRP. She has submitted a correctly completed
Election to ANZ’s Share Registrar before the last date for DRP
Elections for the Interim Dividend.
INTERIM DIVIDEND
ANZ has announced an 80 cents per share Interim Dividend
The amount Jacqui has available for reinvestment under the DRP
is $800.00 (80c x 1,000 shares = $800.00)
The DRP price for the relevant dividend is $28.80, so Jacqui will
receive 27 DRP shares (27 x $28.80 = $777.60)
Jacqui still has $22.40 left over for reinvestment which is not
enough for another DRP share (at $28.80), so $22.40 is carried
forward to the next Eligible Dividend ($800.00 - $777.60 = $22.40)
Jacqui now holds 1,027 ANZ ordinary shares (1,000 + 27)
FINAL DIVIDEND
ANZ has announced an 80 cents per share Final Dividend
The amount Jacqui has available for reinvestment under the DRP
is $844.00 (80c x 1,027 shares + $22.40 balance carried forward)
The DRP price for the relevant dividend is $28.95, so Jacqui will
receive 29 DRP shares (29 x $28.95 = $839.55)
Jacqui still has $4.45 left over for reinvestment which is not
enough for another DRP share (at $28.95), so $4.45 is carried
forward to the next Eligible Dividend ($844.00 - $839.55 = $4.45)
Jacqui now holds 1,056 ANZ ordinary shares (1,027 + 29)
11. HOW DO I KNOW HOW MANY DRP
SHARES I HAVE RECEIVED?
ANZ will send each DRP participant an advice for each Eligible
Dividend payment showing transaction details.
12. WILL ANZ ORDINARY SHARES RECEIVED
UNDER THE DRP AUTOMATICALLY
PARTICIPATE IN THE DRP?
Yes. Regardless of whether you are a full or partial DRP participant,
shares received under the DRP will automatically be added to those
already participating in the DRP unless you notify ANZ’s Share
Registrar otherwise.

DIVIDEND REINVESTMENT PLAN
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13. WHAT HAPPENS IF I COMBINE MY
SEPARATE SHAREHOLDINGS OR CHANGE
BROKERS?
If you decide to combine your holdings by e.g. converting your
issuer sponsored holding to a CHESS holding or change brokers,
your participation in the DRP may be affected. You should contact
ANZ’s Share Registrar, Computershare, to ensure the appropriate DRP
Election continues to be applied.
14. WHAT ARE THE TAX IMPLICATIONS OF
DRP PARTICIPATION?
AUSTRALIAN CONSIDERATIONS
For Australian resident shareholders, dividends reinvested under
the DRP will continue to be assessable for income tax in exactly the
same manner as cash dividends. Franking credits will be available
depending on the extent of franking under the dividend imputation
arrangements and the individual circumstances of the shareholder.
The DRP advice should be kept as a record.
As with other ANZ ordinary shares purchased, capital gains tax may
apply to Australian resident shareholders upon the disposal of the
shares. The cost base of the ANZ ordinary shares for Australian tax
purposes should include the acquisition price shown on the DRP
advice. Different tax considerations may apply to share traders.
OVERSEAS CONSIDERATIONS
Shareholders resident outside Australia should seek independent
professional advice if they are in any doubt about the effect of
taxation legislation in their country of residence. However, for the
general guidance of overseas shareholders, it is likely that dividends
reinvested under the DRP will continue to be treated, in their country
of residence, in the same way as cash dividends are treated.
Usually this will mean that income tax will apply to the amount
reinvested.
15. CAN I CHANGE MY PARTICIPATION?
Yes. You can terminate or vary your participation in the DRP at any
time by submitting a new Election. The Election must be received by
ANZ’s Share Registrar by 5pm (Melbourne, Australia time) on the next
relevant DRP Election Date to be effective for that dividend.
16. WHAT HAPPENS TO THE CASH
BALANCE CARRIED FORWARD IN MY DRP
ACCOUNT IF I LEAVE THE DRP?
If you terminate your participation in the DRP but retain any ANZ
ordinary shares under the HIN / SRN used for the DRP Election at the
Record Date of the next Eligible Dividend, the cash balance carried
forward in your DRP Account will be paid to you at the time of
payment of the next dividend.
So, from the earlier example, if Jacqui terminates her
participation in the DRP and still holds any of her 1,056 ANZ
ordinary shares at the Record Date of the next Eligible Dividend,
she will receive the $4.45 carried forward amount at the time of
payment of ANZ’s next Eligible Dividend.
So, from the earlier example, if Jacqui terminates her
participation in the DRP and does not hold any of her 1,056 ANZ
ordinary shares at the Record Date of the next Eligible Dividend
(and has not acquired any new ANZ ordinary shares), she will
forfeit the $4.45 carried forward amount.
So, from the earlier example, if Jacqui sells all of her 1,056 ANZ
ordinary shares and does not acquire any more ANZ ordinary
shares under that HIN / SRN by the Record Date of the next Eligible
Dividend, she will forfeit the $4.45 carried forward amount.
Alternatively, if Jacqui sells all of her 1,056 ANZ ordinary shares
and acquires new ANZ ordinary shares under the HIN / SRN
used for the DRP Election by the Record Date of the next
Eligible Dividend, the newly acquired ANZ ordinary shares will
automatically participate in the DRP in accordance with Jacqui’s
existing DRP Election.
If you terminate your participation in the DRP and do not hold any
ANZ ordinary shares under the HIN / SRN used for the DRP Election
at the Record Date of the next Eligible Dividend, the cash balance
carried forward in your DRP Account will be forfeited. This amount
cannot be transferred for use in connection with participation, if any,
in the BOP.
17. WHAT IF I SELL MY ANZ ORDINARY
SHARES?
If you sell all of your ANZ ordinary shares in the holding that was
the subject of the DRP Election and do not acquire any new ones
under the HIN / SRN used for the DRP Election by the Record Date
of the next Eligible Dividend, you are taken to have terminated your
participation in the DRP for that holding and any cash balance carried
forward will be forfeited.
18. WHAT WILL ANZ DO WITH AMOUNTS
FORFEITED UNDER THE DRP?
ANZ will either donate the forfeited DRP residual amounts to charity
or use them for charitable purposes.

DIVIDEND REINVESTMENT PLAN
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1. PARTICIPATION IN THE DRP
1.1 PARTICIPATION BY SHAREHOLDERS
Participation by Shareholders in the DRP is optional, non transferable
and subject to these Terms and Conditions.
The degree of a Shareholder’s participation may, subject to the
restrictions and procedures provided for in these Terms and
Conditions, be varied or terminated by the Shareholder or the
Company at any time.
1.2 SHAREHOLDERS NOT ELIGIBLE TO
PARTICIPATE
A Shareholder who is subject to the laws of a country or place other
than Australia may not be eligible to participate in the DRP because
of legal requirements that apply in that country or place or in
Australia. Allotment or allocation of Shares to Shareholders who are
not resident in Australia at the time of allotment or allocation will be
subject to all necessary government approvals. It is the responsibility
of each Shareholder to obtain any such approvals. Before electing to
participate in the DRP, Shareholders who are not resident in Australia
should seek professional advice to ascertain if any restrictions apply.
The Board may determine at any time that the right to participate
in the DRP shall not be available to a Shareholder whose registered
address is in a country or place where, in the absence of a registration
statement or other formality, the offer of a right to so participate
would or might be unlawful.
Until the Board otherwise determines, participation in the DRP is not
available directly or indirectly to any entity or person, including any
legal or beneficial owner of Shares, who is (or who is acting on behalf
of or for the account or benefit of an entity or person who is) in or
resident in the United States of America, its possessions or territories,
or Canada. Copies of DRP documents shall not be mailed or otherwise
distributed or sent into the United States of America, its possessions
or territories, or Canada.
2. APPLICATION TO PARTICIPATE
A Shareholder may apply to participate in the DRP by submitting an
Election. Upon receipt by the Share Registrar of a correctly completed
Election, a Shareholder will, subject to rule 12.1, participate in the DRP
commencing in respect of the next relevant Eligible Dividend.
If a Shareholder is shown on the Share Registry as holding more than
one parcel of Shares and has been allocated a separate unique holder
identification number or securityholder reference number for each of
those parcels:
(a) a separate Election is required for each of those parcels; and
(b) these Terms and Conditions apply as if each of those parcels were
registered in the name of a separate Shareholder.
If a Shareholder makes an election to participate in the DRP and also a
separate election to participate in the BOP, the BOP election will have
priority over the DRP election to the extent of any conflict.
3. DEGREE AND LIMITS ON PARTICIPATION
3.1 DEGREE OF PARTICIPATION
Participation in the DRP may be either ‘full’ or ‘partial’ for:
(a) all of the Shares registered in the name of the Shareholder on a
relevant Record Date, or
(b) the number of Shares registered in the name of the Shareholder
specified in an Election.
An Election which does not specify the degree of participation shall
be deemed to be a request for full participation in the DRP of all
Shares registered in the name of the Shareholder.
An Election which specifies a number of Shares which is greater than
the Shareholder’s total holding on a relevant Record Date shall be
deemed to be a request for full participation in the DRP of all Shares
registered in the name of the Shareholder for the purposes of the
Eligible Dividend relating to that Record Date.
Shares allotted or allocated under the DRP will be added to those
already participating in the DRP and, unless the Shareholder notifies
the Share Registrar otherwise, dividends paid in respect of these
Shares will be automatically reinvested under the DRP.
3.2 LIMIT ON DRP PARTICIPATION
The Board may determine from time to time that not more
than a specified number or percentage of Shares registered in a
Shareholder’s name may participate in the DRP. If the Board does so,
the Company must notify Shareholders accordingly. Once notified,
each DRP Participant’s participation will be subject to that maximum
threshold and, if any DRP Participant’s participating Shares exceeds
the maximum determined by the Board, the number of Shares
participating will be that maximum number determined by the Board.
If:
(a) the Board determines to impose a limit on the number or
percentage of a Shareholder’s Shares that may participate in the
DRP; and
(b) Shares are held in a broker’s clearing account (as defined in the
Listing Rules) or by a trustee or nominee,
the broker, trustee or nominee will be permitted to participate up to
such limit in respect of each person whose Shares are held that way,
subject to the restrictions and procedures provided for in these Terms
and Conditions.
ANZ’S DIVIDEND REINVESTMENT PLAN –
TERMS AND CONDITIONS AS AT 30 APRIL 2018

DIVIDEND REINVESTMENT PLAN
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4. OPERATION OF THE DRP
4.1 APPLICATION OF DIVIDEND
The amount of each Eligible Dividend payable to a DRP Participant
on DRP Shares (less Australian Withholding Tax if applicable) will
be applied by the Company on the DRP Participant’s behalf in
subscription for, or to purchase, additional Shares. However, if an
amount is payable on the DRP Shares and the Company is entitled
to and does retain or otherwise deal with the amount in accordance
with the Constitution or the requirements of any law, the amount
shall not be available for the purposes of participating in the DRP.
4.2 BOUND BY CONSTITUTION
By applying to participate in the DRP, a Shareholder agrees to be
bound by the Constitution in respect of all Shares provided to the
Shareholder under the DRP.
4.3 DRP ACCOUNT
The Company will establish and maintain a DRP Account for each DRP
Participant. For each Eligible Dividend payment on DRP Shares, the
Company will, for each DRP Participant:
(a) determine any cash balance remaining from previous Eligible
Dividend payments and held to the credit of the DRP Account of
the DRP Participant;
(b) determine the amount of the Eligible Dividend payable to the DRP
Participant in respect of the DRP Participant’s DRP Shares;
(c) determine (where applicable) the Australian Withholding Tax in
respect of the Eligible Dividend to be deducted therefrom;
(d) credit the amount calculated under paragraph (b) and debit the
applicable Australian Withholding Tax (if any) calculated under
paragraph (c) to the DRP Account of the DRP Participant;
(e) determine the maximum whole number of Shares to be allotted
or allocated to the DRP Participant in accordance with rule 4.5;
(f) on behalf of and in the name of the DRP Participant, subscribe for,
or purchase, that number of additional Shares determined under
paragraph (e) and debit the DRP Participant’s DRP Account with
the total of the Acquisition Price for each of those Shares;
(g) allot, allocate or cause the allocation of that number of additional
Shares determined under paragraph (e) to the DRP Participant on,
or as soon as practicable after, the payment date of the Eligible
Dividend; and
(h) retain in the DRP Participant’s DRP Account, without interest, any
cash balance remaining after the DRP Account has been debited
in accordance with paragraph (f), which cash balance shall be
used in the calculations for determining the maximum number
of Shares to be allotted or allocated under the DRP at the time of
payment of the next Eligible Dividend.
4.4 SHARES MAY BE NEWLY ISSUED OR
PURCHASED
The Board may, in its discretion, determine whether Shares are to
be subscribed for or purchased (on ASX or otherwise), or some
combination of both, for the purpose of the Company satisfying its
obligations under the DRP.
The Company may create a trust (of which Shareholders who have
elected to participate in the DRP are the beneficiaries) to acquire
those Shares and then allocate or cause the allocation of those Shares
to DRP Participants.
4.5 NUMBER OF DRP SHARES TO BE ALLOTTED
OR ALLOCATED
Subject to the discretion of the Board, the number of Shares to
be allotted or allocated to each DRP Participant in relation to an
Eligible Dividend is the quotient (Q) determined in accordance with
the following formula after rounding Q down to the nearest whole
number:
Q = D divided by AP
Where:
D is the amount standing to the credit of the DRP Participant’s DRP
Account after the steps in paragraphs (b), (c) and (d) of rule 4.3 have
been completed (inclusive of any cash balance standing to the
credit of the DRP Participant’s DRP Account before those steps were
commenced (referred to in paragraph (a) of rule 4.3)); and
AP is the Acquisition Price in relation to the Eligible Dividend.
5. SHARES ALLOTTED OR ALLOCATED
UNDER THE DRP
Shares allotted under the DRP will, from the date of allotment, rank
equally in all respects with all other Shares in the Company.
Shares allotted or allocated under the DRP will be allotted or
allocated on, or as soon as practicable after, the payment date of the
relevant Eligible Dividend and will be registered on the Share Registry
on which the DRP Participant’s holding of DRP Shares is currently
registered.
6. COST TO SHAREHOLDERS
No brokerage, commission or other transaction costs will be payable
by a Shareholder on Shares provided under the DRP and no stamp or
other transaction duties will, under applicable law at the date of this
document, be payable by a DRP Participant.
7. DRP STATEMENTS
The Company will send to each DRP Participant a DRP statement
for each Eligible Dividend payment providing full details of the DRP
Participant’s transactions in the DRP and the DRP Account.

DIVIDEND REINVESTMENT PLAN
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8. VARIATION OR TERMINATION OF
PARTICIPATION
Subject to rule 12.1, a DRP Participant may at any time give notice to
the Company:
(a) increasing or decreasing the number of the DRP Participant’s
Shares participating in the DRP; or
(b) terminating the DRP Participant’s participation in the DRP.
If a DRP Participant dies or becomes bankrupt, the participation
of that DRP Participant and any other Shareholder with whom the
deceased or bankrupt DRP Participant was a joint Shareholder will be
terminated upon receipt by the Company of notice of the death or
bankruptcy, as the case may be.
Following termination of a DRP Participant’s participation in the DRP:
(c) by a Shareholder, if at the Record Date of the next Eligible
Dividend the Shareholder retains any holding of Shares under
the holder identification number / securityholder reference
number which was the subject of the DRP Election, the Company
will pay to the Shareholder, at the time of payment of the next
Eligible Dividend, any cash balance that was remaining in
the Shareholder’s DRP Account at the time of termination of
participation in the DRP; and
(d) for any reason other than as set out in rules 8(c) or 10, the
Shareholder will not be entitled to receive from the Company
payment of any cash balance remaining in the Shareholder’s DRP
Account at the time at which participation by the Shareholder in
the DRP is terminated or the Shareholder ceases to participate in
the DRP.
9. PARTIAL PARTICIPATION AND DISPOSAL
OF SHARES
Where a DRP Participant with partial participation in the DRP disposes
of part of the DRP Participant’s holding of Shares then, unless the DRP
Participant advises the Company otherwise, the Shares disposed of
will be deemed to be Shares not participating in either the DRP or the
BOP. If the number of Shares disposed of is greater than the number
of the DRP Participant’s Shares not participating in either the DRP
or the BOP, the Shares disposed of will be deducted from the DRP
Participant’s holding of Shares in the following order:
(a) Shares not participating in either the DRP or BOP;
(b) DRP Shares; and
(c) Shares participating in the BOP.
Where a DRP Participant disposes of all of the DRP Participant’s
holding of Shares without giving the Company notice of termination
of participation and is not registered as the holder of Shares under
the holder identification number / securityholder reference number
which was the subject of the DRP Election at the Record Date of the
next Eligible Dividend, the DRP Participant is taken to have formally
terminated their participation in the DRP.
10. MODIFICATION, SUSPENSION AND
TERMINATION OF THE DRP
The DRP may be modified, suspended or terminated by the Board
at any time upon notice being given to Shareholders. In the case of
a modification, it will be deemed that each existing DRP Participant
will continue to participate under the modified DRP on the basis of
the last Election received by the Company in accordance with these
Terms and Conditions unless the Company is notified to the contrary
by the DRP Participant in an Election.
If the DRP is suspended, any cash balance in a DRP Participant’s DRP
Account will be held by the Company pending the reinstatement
of the DRP. If the DRP is suspended and subsequently reinstated,
subject to rule 8 and unless otherwise determined by the Board,
each Shareholder who was a DRP Participant before the suspension
is taken to continue to participate in the DRP when it recommences
with, subject to these Terms and Conditions, the same degree of
participation as immediately before the suspension.
If the DRP is terminated, any cash balance in a Shareholder’s DRP
Account will be returned to the Shareholder.
11. SECURITIES EXCHANGE LISTING
The Company will promptly make application for Shares allotted
under the DRP to be listed for quotation on ASX and the New Zealand
Stock Exchange (as applicable).
12. APPLICATIONS AND NOTICES
12.1 APPLICATIONS AND NOTICES TO THE
COMPANY
Applications and notices to the Company shall be in writing and
in accordance with directions set out in the Election. Applications
and notices will be effective upon receipt by the Share Registrar in
accordance with any directions in the Election, subject to:
(a) these Terms and Conditions;
(b) in the case of applications to participate in the DRP made on an
Election, acceptance by the Company;
(c) in relation to any Eligible Dividend, receipt by not later than
5.00pm (Melbourne, Australia time) (or such other time as the
Board determines) on the DRP Election Date for that Eligible
Dividend; and
(d) any other restrictions that the Board may determine from time to
time.
The Company will not accept an Election from any entity or person
who does not represent that they are not (and that they are not
acting on behalf or for the account or benefit of an entity or person
who is) in, or resident in, the United States of America, its possessions
or territories, Canada, or any other jurisdiction which the Board may
determine in its absolute discretion.

DIVIDEND REINVESTMENT PLAN
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12.2 NOTICES FROM THE COMPANY
Any notice to Shareholders or announcement to be made by the
Company or the Board in relation to the DRP (including in relation
to any modification, suspension or termination, any discount or any
other matter provided for in these Terms and Conditions) may be
made:
(a) by notice to ASX for release to the market and on the Company’s
website; or
(b) by notice to Shareholders in accordance with the provisions of the
Constitution which provide for notices to Shareholders.
Any such notice or announcement will be effective from the date
given, or any other date provided for in these Terms and Conditions
or referred to in the notice or announcement.
13. TAXATION
Given the complex nature of taxation and of other legislation, the
variety of jurisdictions involved, and the diverse taxation and
financial circumstances applying to Shareholders, the Company
cannot take any responsibility for any advice expressed or implied in
this document.
Shareholders should obtain their own professional advice in relation
to the financial and taxation implications of any of the dividend
alternatives offered.
This document does not contain the information which would be
contained in a prospectus. It is limited to information concerning the
operation of the DRP.
However, existing provisions of the Income Tax Assessment Act 1936
(Cth) (as amended) and the Income Tax Assessment Act 1997 (Cth)
(as amended) of the Commonwealth of Australia have the effect
of subjecting dividends received in Shares under the DRP (and any
related franking credits) to tax.
The cost for Australian tax purposes of each DRP Share provided to a
DRP Participant under the DRP should include the Acquisition Price
for that DRP Share.
Neither the Company nor any of its directors, officers, employees,
representatives or agents accept any responsibility or assume any
liability for any taxation liabilities incurred by or imposed upon any
Shareholder as a consequence of the Shareholder participating in the
D R P.
14. GENERAL
(a) The DRP and its operation and these Terms and Conditions shall
be governed by the laws of the State of Victoria.
(b) The accidental omission to give any notice (including any notice
of modification, suspension or termination) to, or the non-receipt
of any notice by, any Shareholder shall not invalidate the notice or
the effect of the notice, including the modification, suspension or
termination of the DRP as the case may be.
(c) Any determination, notification or calculation to be made or given
by the Board or the Company may be made or given by the Board
or the Company respectively in its absolute discretion and in the
absence of manifest error is binding on each Shareholder who
elects to participate in the DRP.
(d) The Board has discretion to:
(i) determine any procedures for administration of the DRP that
are consistent with these Terms and Conditions;
(ii) resolve conclusively all questions of fact or interpretation in
connection with the DRP;
(iii) exercise discretions or powers (including any power to make a
choice, decision, determination or resolution) of the Company
under these Terms and Conditions;
(iv) waive strict compliance with any of the provisions of these
Terms and Conditions.
(e) The Company has the power to settle or resolve any difficulties,
anomalies or disputes which arise in connection with, or because
of, the operation of the DRP, in the manner it thinks expedient
(either generally or in relation to a particular Shareholder or Share)
and the decision of the Company is binding on all Shareholders of
the Company.

DIVIDEND REINVESTMENT PLAN
10
15. INTERPRETATION
In these Terms and Conditions, the following definitions apply:
“Acquisition Price” in relation to an Eligible Dividend, means the
arithmetic average of the daily volume weighted average sale price of
all Shares sold on ASX and / or any other trading platforms (for example,
Chi-X) as the Board may determine from time to time in the ordinary
course of trading on the relevant trading platform(s) during the Pricing
Period, less a discount (if any) determined by the Board from time to
time and notified by the Company to Shareholders (with the arithmetic
average, after deduction of any discount, rounded to the nearest whole
cent but if the fraction is one half of a cent the amount is to be rounded
down to the nearest whole cent). For the purpose of calculating the
Acquisition Price, the Company may determine at its discretion that a
particular transaction is not to be included in the calculation because, in
the Company’s view, it is not within the ordinary course of trading.
“ASX” means ASX Limited (ABN 98 008 624 691) or the market
operated by it (as the context requires).
“Australian Withholding Tax” means any amount that the Company is
required to withhold, deduct, remit or otherwise deal with in relation
to an Eligible Dividend in accordance with the requirements of any
tax law.
“Board” means the directors of the Company acting collectively under
the Constitution or a committee or person to whom the directors of
the Company have delegated a relevant power in accordance with
the Constitution or the Corporations Act 2001 (Cth) (or both).
“BOP” means the Company’s Bonus Option Plan.
“Chi-X” means Chi-X Australia Pty Ltd (ABN 47 129 584 667) or the
market operated by it (as the context requires).
“Company” means Australia and New Zealand Banking Group Limited
ABN 11 005 357 522.
“Constitution” means the constitution of the Company from time to
time.
“DRP” means the Company’s Dividend Reinvestment Plan the subject
of these Terms and Conditions.
“DRP Account” means an account established and maintained under
rule 4.3.
“DRP Election Date” means the date determined by the Board and
announced to ASX for calculating participation in the DRP with
respect to the relevant Eligible Dividend.
“DRP Participant” means a Shareholder who is not ineligible to
participate as determined by rule 1.2 and:
(a) whose Election has been received and accepted by the Company
and is effective in accordance with rules 2 and 12; and
(b) who has not ceased to participate by operation of rules 8, 9 or 10.
“DRP Share” means a Share that is taken to be participating in the DRP
in accordance with rules 2, 3.1 and 3.2.
“Election” means an application to participate in the DRP in the form
(including electronic form) prescribed or approved by the Company
from time to time.
“Eligible Dividend” means each cash dividend determined by the
Board in respect of Shares and (at the discretion of the Board)
includes any special dividends.
“Listing Rules” means the Listing Rules of ASX as they apply to the
Company from time to time.
“Pricing Period” means, in relation to any Eligible Dividend, the period
of 10 trading days (or such other number of trading days as the Board
may determine from time to time) commencing on the third trading
day immediately following the Record Date in relation to that Eligible
Dividend (or such other day as the Board may determine). For this
purpose, “trading day” means (unless otherwise determined by the
Board) a day which is defined to be a “Trading Day” in the Listing Rules,
other than a day on which the Shares have been placed in a “trading
halt” (as defined in the Listing Rules) or on voluntary suspension (the
suspension of a listed entity’s securities from quotation requested by
the entity as described in Listing Rule 17.2) for more than 2 hours.

“Record Date” means 5.00 pm (Melbourne, Australia time) (or such
other time as the Board determines) on the date for calculating
entitlements to the relevant Eligible Dividend.
“Share” means a fully paid ordinary share in the Company.
“Share Registrar” means the person appointed as registrar of the
Share Registry from time to time.
“Share Registry” means the Company’s share register or registers
maintained by the Share Registrar.
“Shareholder” means a holder of a Share or Shares from time to time.
16. TRADING RULES
For so long as the Company remains admitted to the official list of
ASX, despite anything else contained in these Terms and Conditions:
(a) if the Trading Rules prohibit an act being done by the Company,
the act shall not be done;
(b) nothing contained in these Terms and Conditions prohibits an act
being done by the Company that the Trading Rules require to be
done;
(c) if the Trading Rules require an act to be done or not to be done,
authority is given for that act to be done or not to be done (as the
case may be);
(d) if the Trading Rules require these Terms and Conditions to contain
a provision and they do not contain that provision, these Terms
and Conditions are taken to contain that provision;
(e) if the Trading Rules require these Terms and Conditions not to
contain a provision and they contain that provision, these Terms
and Conditions are deemed not to contain that provision; and
(f) if any of these Terms and Conditions are or become inconsistent
with the Trading Rules, these Terms and Conditions are to be taken
not to contain that provision to the extent of the inconsistency.
In this rule, Trading Rules mean:
(a) the Listing Rules; and
(b) the operating rules of ASX Settlement Pty Limited
ABN 49 008 504 532.

DIVIDEND REINVESTMENT PLAN
11
PRIVACY
The Corporations Act 2001 provides that, as an ANZ shareholder,
your personal information, including details of your shareholding, is
required to be collected by ANZ for the purpose of maintaining its
register of members. The information collected is also used to service
your entitlements and requirements as a shareholder of ANZ.
The maintenance and administration of the register of members is
undertaken by ANZ’s Share Registrar, which collects and maintains
your personal information on behalf of ANZ. Your personal
information may be disclosed to governmental and regulatory bodies
to meet ANZ’s disclosure and reporting obligations.
Subject to the provisions of any applicable law, you may access your
personal information at any time by contacting ANZ’s Share Registrar.
You may also obtain a copy of ANZ’s Privacy Policy by calling 13 13 14
(within Australia) or +61 3 9683 9999 (outside Australia) or by visiting
anz.com.

Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522