Westpac Self-Funding Instalments over securities in OSH

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

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

13 December 2021


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


Dear Mr Dinh

Re: Westpac Self-Funding Instalments over securities in Oil Search Limited (OSH)

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

OSHSWB
OSHSWC

On 9 December 2021, Oil Search Limited (“Oil Search”) announced that the National Court of Papua
New Guinea had made orders approving the scheme of arrangement (“Scheme”) under which Santos
Limited (“Santos” or “STO”) will acquire all of the shares in Oil Search in return for the issue of new
Santos shares to Oil Search shareholders. This follows approval of the Scheme by Oil Search
shareholders at the Scheme meeting on 7 December 2021.

On 10 December 2021 Oil Search announced that the scheme was now legally effective.

In response to the Scheme, in accordance with clause 19.2(a) of the Terms of Issue, Westpac sold the
underlying OSH shares at an average price of $4.0700 per share on 10 December 2021.

The new Completion Payment will take effect from the date of this announcement.

ASX Code
Previous
Completion
Payment
Proceeds applied
to reduce
Completion
Payment
New
Completion
Payment
Interest
refund
amount
Surplus
cash
amount
per
Westpac
SFI
OSHSWB $3.3730 $4.0700 $0.0000 $0.0000 $0.6970
OSHSWC $1.6867 $4.0700 $0.0000 $0.0000 $2.3833

As previously announced on 9 December 2021, Westpac has determined to fix an Accelerated
Completion Date for the above series of Westpac SFIs of 30 December 2021.

As a consequence of the above, the above series of Westpac SFIs will remain suspended from trading
until the close of trading of the Accelerated Completion Date of 30 December 2021 at which time they
will be delisted.

Should you require us to make a manual market in the above series of Westpac SFIs, please contact
Westpac Structured Investments on 1800 990 107.

For further information please contact Westpac Structured Investments on 1800 990 107.

Capitalised terms not otherwise defined in this announcement have the same meaning as given in the
Westpac SFIs Product Disclosure Statement.

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