Dividend/Distribution – WBCPG

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Announcement Summary
Entity name
WESTPAC BANKING CORPORATION
Security on which the Distribution will be paid
WBCPG - CAP NOTE 3-BBSW+4.90% PERP NON-CUM RED T-12-21
Announcement Type
New announcement
Date of this announcement
Wednesday January 6, 2021
Distribution Amount
AUD 0.84750000
Ex Date
Friday March 19, 2021
Record Date
Monday March 22, 2021
Payment Date
Tuesday March 30, 2021
Additional Information
The Distribution Rate was determined using the following formula:
(3 month BBSW Rate + Margin) x (1 - Tax Rate)
as follows:
3 month BBSW Rate on 31 December 2020: 0.0100% pa
+ Margin: 4.9000% pa
= 4.9100% pa
x (1 - Tax Rate): 0.70
= Distribution Rate: 3.4370% pa
The cash amount of the Distribution on each Westpac Capital Note 4 (WCN 4) was calculated as follows:
Distribution Rate: 3.4370% pa
x Face Value: AUD 100
x days in Distribution Period: 90
/ 365
= cash amount of Distribution: AUD 0.8475 fully franked
Refer to below for full details of the announcement

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Announcement Details
Part 1 - Entity and announcement details
1.1 Name of +Entity
WESTPAC BANKING CORPORATION
1.2 Registered Number Type
ABN
Registration Number
33007457141
1.3 ASX issuer code
WBC
1.4 The announcement is
1.5 Date of this announcement
Wednesday January 6, 2021
1.6 ASX +Security Code
WBCPG
ASX +Security Description
CAP NOTE 3-BBSW+4.90% PERP NON-CUM RED T-12-21
Part 2A - All dividends/distributions basic details
2A.1 Type of dividend/distribution
2A.2 The Dividend/distribution:
relates to a period of one quarter
2A.3 The dividend/distribution relates to the financial reporting or payment period ending ended/ending (date)
Tuesday March 30, 2021
2A.4 +Record Date
Monday March 22, 2021
Ordinary
New announcement

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2A.5 Ex Date
Friday March 19, 2021
2A.6 Payment Date
Tuesday March 30, 2021
2A.7 Are any of the below approvals required for the dividend/distribution before business day 0 of the timetable?
Security holder approval
Court approval
Lodgement of court order with +ASIC
ACCC approval
FIRB approval
Another approval/condition external to the entity required before business day 0 of the timetable for the
dividend/distribution.
2A.8 Currency in which the dividend/distribution is made ("primary currency")
AUD - Australian Dollar
2A.9 Total dividend/distribution payment amount per
+security (in primary currency) for all
dividends/distributions notified in this form
AUD 0.84750000
Estimated or Actual?
2A.10 Does the entity have arrangements relating to the
currency in which the dividend/distribution is paid to
securityholders that it wishes to disclose to the market?
2A.11 Does the entity have a securities plan for
dividends/distributions on this +security?
2A.12 Does the +entity have tax component information
apart from franking?
Part 3A - Ordinary dividend/distribution
3A.1 Is the ordinary dividend/distribution estimated at
this time?
3A.1a Ordinary dividend/distribution estimated amount
per +security
AUD
3A.1b Ordinary Dividend/distribution amount per
security
AUD 0.84750000
3A.2 Is the ordinary dividend/distribution franked?3A.2a Is the ordinary dividend/distribution fully franked?
YesYes
No
No
We do not have a securities plan for
dividends/distributions on this security
No
Actual
No

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3A.3 Percentage of ordinary dividend/distribution that is
franked
100.0000 %
3A.3a Applicable corporate tax rate for franking credit
(%)
30.0000 %
3A.4 Ordinary dividend/distribution franked amount per
+security
AUD 0.84750000
3A.5 Percentage amount of dividend which is unfranked
0.0000 %
3A.6 Ordinary dividend/distribution unfranked amount
per +security excluding conduit foreign income amount
AUD 0.00000000
3A.7 Ordinary dividend/distribution conduit foreign
income amount per security
AUD 0.00000000
Part 3D - Preference +security distribution rate details
3D.1 Start date of payment period
Thursday December 31, 2020
3D.2 End date of payment period
Tuesday March 30, 2021
3D.3 Date dividend/distribution rate is set (optional)
Thursday December 31, 2020
3D.4 Describe how the date that dividend/distribution rate is set is determined
First Business Day of the Distribution Period
3D.5 Number of days in the dividend/distribution period
90
3D.6 Dividend/distribution base rate (pa)
0.0100 %
3D.7 Comments on how dividend/distribution base rate is set
3 month BBSW Rate on the first Business Day of the Distribution Period. For more information, refer to the WCN 4
Prospectus
3D.8 Dividend/distribution margin
4.9000 %
3D.9 Comments on how dividend/distribution margin is set
Margin set at the time of issue of WCN 4 and will not change. For more information, refer to the WCN 4 Prospectus.
3D.10 Any other rate / multiplier used in calculating dividend/distribution rate
-1.4730 %

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3D.11 Comments on how other rate used in calculating dividend/distribution rate is set
Other rate = A - B
where
A = (3 month BBSW Rate + Margin) x (1 - Tax Rate)
B = 3 month BBSW Rate + Margin
Tax Rate (expressed as a decimal) means the Australian corporate tax rate applicable to the franking account of Westpac
as at the relevant Distribution Payment Date (30%). For more information, refer to the WCN 4 Prospectus.
3D.12 Total dividend/distribution rate for the period (pa)
3.4370 %
3D.13 Comment on how total distribution rate is set
Distribution Rate = (3 month BBSW Rate + Margin) x (1 - Tax Rate)
Part 5 - Further information
5.1 Please provide any further information applicable to this dividend/distribution
Capitalised terms in this announcement have the meanings given in the WCN 4 Prospectus, which is available from http://
www.westpac.com.au/westpaccapnotes4
This Distribution payment is subject to Westpac's absolute discretion and the Distribution payment conditions being
satisfied in respect of the Distribution Payment Date. (NB: These are standard conditions in respect of each quarterly
Distribution paid on WCN 4 - refer to the WCN 4 Prospectus.)
5.2 Additional information for inclusion in the Announcement Summary
The Distribution Rate was determined using the following formula:
(3 month BBSW Rate + Margin) x (1 - Tax Rate)
as follows:
3 month BBSW Rate on 31 December 2020: 0.0100% pa
+ Margin: 4.9000% pa
= 4.9100% pa
x (1 - Tax Rate): 0.70
= Distribution Rate: 3.4370% pa
The cash amount of the Distribution on each Westpac Capital Note 4 (WCN 4) was calculated as follows:
Distribution Rate: 3.4370% pa
x Face Value: AUD 100
x days in Distribution Period: 90
/ 365
= cash amount of Distribution: AUD 0.8475 fully franked