Westpac Self-Funding Instalments over securities in BHP

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

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

25 May 2022


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 BHP Group Limited (“BHP”)
- merger of BHP’s oil and gas portfolio with Woodside Energy Group Ltd

Westpac Banking Corporation (“Westpac”) as issuer of the following series of Westpac Self-Funding
Instalments (“Westpac SFIs”) over securities in BHP, notifies of an adjustment to the Completion
Payment in respect of those Westpac SFIs:

BHPSWA
BHPSWB

On 20 May 2022 the Board of BHP Group (“BHP”) announced that it had determined to pay to BHP
shareholders an in specie dividend in the form of Woodside Energy Group Ltd (“Woodside”) shares in
connection with the merger of BHP’s oil and gas portfolio with Woodside (“Merger”).

Under the Terms of Issue of the above Westpac SFIs, Westpac has sold the Woodside shares at an
average price of $29.00 per share and applied the proceeds to reduce the Completion Payment per
Westpac SFI.

The new Completion Payment is effective from the date of this notice. The following Westpac SFIs
will commence trading on an adjusted basis on 26 May 2022:

ASX Code
Previous
Completion
Payment
Proceeds of sale of
Woodside shares applied
to reduce Completion
Payment
New Completion
Payment
BHPSWA $0.4411 $5.2403 $0.0000
BHPSWB $12.2965 $5.2403 $7.0562


Accelerated Completion Date for BHPSWA

Following the reduction of the Completion Payment for BHPSWA to $0.0000 and pursuant to clause
12.1(a)(iv) of the Terms of Issue, Westpac has determined to fix an Accelerated Completion Date for
the relevant Westpac SFIs of 10 June 2022.

ASX Code
Previous
Completion
Payment
Proceeds of sale of
Woodside shares
applied to reduce
Completion Payment
New
Completion
Payment
Interest
refund
amount
Surplus cash
amount per
Westpac SFI
BHPSWA $0.4411 $5.2403 $0.0000 $0.0000 $4.7992

BHPSWA will remain suspended from trading on the ASX until the Accelerated Completion Date and
subsequently delisted after the close of trading on 10 June 2022.


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
PDS.

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