Update on sale of Wealth businesses

Australia and New Zealand Banking Group Limited ABN 11 005 357 522
News Release
For release: 7 December 2018


Update on sale of Wealth businesses

ANZ provided an update on the sale of its Wealth businesses, following regulatory action
against IOOF Holdings Limited (IOOF) announced today by the Australian Prudential
Regulation Authority (APRA).

APRA has advised it is seeking Federal Court approval to disqualify three executives and two
directors from the industry, including its Chairman and Managing Director, for failing to act
in the best interests of superannuation members. APRA also said it was seeking to apply
additional licence restrictions on IOOF.

ANZ agreed to sell its OnePath Pensions and Investments business to IOOF in October
2017.

ANZ Deputy CEO Alexis George said: “Given the significance of APRA’s action, we will assess
the various options available to us while we seek urgent information from both IOOF and
APRA.

“The work to separate Pensions and Investments from our Life Insurance business
continues. There is a framework available to complete the Zurich transaction that does not
involve IOOF,” Ms George said.

For media enquires contact:

Stephen Ries, +61 409 655 551
Nick Higginbottom, +61 403 936 262

Jill Campbell, +61 412 047 448
Cameron Davis, +61 421 613 819