Westpac reaches agreement to settle US class actions

ASX Release


29 OCTOBER 2020

WESTPAC REACHES AGREEMENT TO SETTLE BOTH US BBSW CLASS
ACTION AND ROSEN LAW FIRM US CLASS ACTION

US BBSW Class Action
Westpac Group announced today it has entered into an agreement with the Plaintiffs to
settle the US BBSW class action. This class action was filed in August 2016 in the US
District Court for the Southern District of New York, in relation to trading activity in the
Australian bank bill swap reference rate (BBSW) market. Settlement is subject to
negotiation and execution of complete settlement papers and Court approval.

Westpac has previously raised a provision in relation to this matter in the 2020 financial
year. The terms of the settlement are currently confidential.

US Rosen Law Firm Class Action
Westpac Group announced today it has entered into a settlement agreement with the
Plaintiffs to settle this claim which was filed in January 2020 in the US District Court for
the District of Oregon in relation to market disclosure issues connected to Westpac’s
financial crime obligations over the period 11 November 2015 to 19 November 2019.
Settlement is subject to Court approval.

The settlement is not material and resolves all claims against the defendants without any
admission of liability.



For further information:

David Lording Andrew Bowden
Group Head of Media Relations Head of Investor Relations
0419 683 411 0438 284 863


This document has been authorised for release by Tim Hartin, General Manager & Company
Secretary.



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Sydney, NSW, 2000