Westpac Self-Funding Instalments over securities in WES

Structured Investments
Level 11, Tower Two
International Towers Sydney
200 Barangaroo Avenue
Barangaroo NSW 2000

Telephone: 1800 990 107
www.westpac.com.au/structuredinvestments

21 November 2018

Mr Martin Dinh
Warrant Administration
Australian Securities Exchange
Level 6, 20 Bridge St
Sydney NSW 2000


Dear Mr Dinh

Re: Westpac Self-Funding Instalment Warrants over securities in Wesfarmers Limited (“WES”)
- Demerger of Coles Group Limited (“Coles”)

Westpac Banking Corporation (“Westpac”) is the issuer of the following Westpac Self-Funding
Instalments (“SFIs”) over securities in WES:

WESSWA, WESSWR

As issuer, Westpac notifies an adjustment to the Completion Payment in respect of those SFIs.

On 15 November 2018 at a general meeting and scheme meeting, WES shareholder approved the
demerger of Coles from WES. As a result of the demerger, eligible WES shareholders are entitled to
receive one Coles share for every share held in WES at the record date being Thursday, 22 November
2018. Under the Terms of Issue of the above SFIs, Westpac has sold the Coles shares at an average
price of $12.9305 per share. As a result, holders will have their Completion Payment reduced by
$12.9305 per SFI.

Resulting Change in Completion Payment for each SFI
ASX Code
Previous
Completion
Payment
Proceeds of sale of
Coles shares applied
to reduce
Completion Payment
New Completion
Payment
WESSWA $20.1533 $12.9305 $7.2228
WESSWR $19.2280 $12.9305 $6.2975

The new Completion Payments will become effective immediately. The SFIs outlined above will
commence trading on an adjusted basis on 22 November 2018.

For further information please contact Westpac Banking Corporation on 1800 990 107.

For and on behalf of Westpac Banking Corporation