Shareholder Resolutions for consideration at the 2021 AGM

ASX
Release


8 OCTOBER 2021

SHAREHOLDER RESOLUTIONS FOR CONSIDERATION AT THE WESTPAC
2021 AGM

Pursuant to ASX Listing Rule 3.17A, Westpac Banking Corporation (Westpac)
advises that it has received a notice under section 249N of the Corporations Act
from shareholders requesting resolutions for consideration at Westpac’s 2021
Annual General Meeting, to be held on Wednesday, 15 December 2021.

The accompanying statements from the shareholders requisitioning the resolutions
will be distributed with the Notice of Annual General Meeting.

Westpac’s Notice of Annual General Meeting will be published in November 2021
and will include the Board’s recommendation on each resolution to be considered at
the meeting.



For further information:

David Lording Andrew Bowden
Group Head of Media Relations Head of Investor Relations
M. 0419 683 411 M. 0438 284 863
P. +612 8253 4008


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










Level 18, 275 Kent Street
Sydney, NSW, 2000

ATTACHMENT
Resolution 1 – Amendment to the Constitution

Insert into the Constitution in clause 7 ‘General meetings’ the following new sub-clause
7.3A ‘Advisory resolutions’: “The Company in general meeting may by ordinary
resolution express an opinion or request information about the way in which a power of
the Company partially or exclusively vested in the Directors has been or should be
exercised. Such a resolution must relate to a material risk identified by the Directors or
the Company and cannot advocate action that would violate any law or relate to any
personal claim or grievance. Such a resolution is advisory only and does not bind the
Directors or the Company".

Resolution 2 – Transition Planning Disclosure

Shareholders note the Company’s support for the goal of achieving net-zero emissions
globally by 2050,
1
along with the publication of the International Energy Agency’s Net
Zero by 2050 scenario.
2
Shareholders therefore request the Company disclose, in
subsequent annual reporting, information demonstrating how the Company will manage
its Fossil Fuel
3
exposure in accordance with a scenario in which global emissions reach
net-zero by 2050. This information should include:
• A commitment to no longer provide Banking and Financing
4
where proceeds
would be used for new Fossil Fuel projects; and
• Targets to reduce Fossil Fuel exposure consistent with net-zero by 2050.




1
2020 Annual Report, Westpac Group, p.46
2
‘Net Zero by 2050’, International Energy Agency, May 2021
3
Upstream, midstream and downstream oil and gas; coal mining and transport (including
haulage and ports); coal, oil and gas power generation
4
Loans and syndication, structured finance and securitisation, asset finance and leasing,
leveraged and acquisition finance, and project finance, as listed by Westpac:
https://www.westpac.com.au/corporate-banking/corporate-and-structured-finance/