Dividend/Distribution update- WBCPJ

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Update Summary
Entity name
WESTPAC BANKING CORPORATION
Security on which the Distribution will be paid
WBCPJ - CAP NOTE 3-BBSW+3.40% PERP NON-CUM RED T-03-27
Announcement Type
Update to previous announcement
Date of this announcement
15/9/2022
Reason for the Update
22 September 2022 has been declared a public holiday for a National Day of Mourning for Queen Elizabeth II. As this
date is no longer a Business Day as defined in the Westpac Capital Notes 7 Terms, the Distribution payment relating to
the Distribution Period ending 22 September 2022 will be made on the next Business Day, 23 September 2022.
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
1.4a Reason for update to a previous announcement
22 September 2022 has been declared a public holiday for a National Day of Mourning for Queen Elizabeth II. As this
date is no longer a Business Day as defined in the Westpac Capital Notes 7 Terms, the Distribution payment relating to
the Distribution Period ending 22 September 2022 will be made on the next Business Day, 23 September 2022.
1.4b Date of previous announcement(s) to this update
28/6/2022
1.5 Date of this announcement
15/9/2022
1.6 ASX +Security Code
WBCPJ
ASX +Security Description
CAP NOTE 3-BBSW+3.40% PERP NON-CUM RED T-03-27
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
Ordinary
Update/amendment to previous announcement

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2A.3 The dividend/distribution relates to the financial reporting or payment period ending ended/ending (date)
22/9/2022
2A.4 +Record Date
14/9/2022
2A.5 Ex Date
13/9/2022
2A.6 Payment Date
23/9/2022
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 0.90690000
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
No
No
We do not have a securities plan for
dividends/distributions on this security
No
Actual
No

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3A.1b Ordinary Dividend/distribution amount per
security
AUD 0.90690000
3A.2 Is the ordinary dividend/distribution franked?3A.2a Is the ordinary dividend/distribution fully franked?
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 0.90690000
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
23/6/2022
3D.2 End date of payment period
22/9/2022
3D.3 Date dividend/distribution rate is set (optional)
23/6/2022
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
92
3D.6 Dividend/distribution base rate (pa)
1.7400 %
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 Westpac
Capital Note 7 (WCN 7) Prospectus.
3D.8 Dividend/distribution margin
3.4000 %
3D.9 Comments on how dividend/distribution margin is set
Margin set at the time of issue of WCN 7 and will not change. For more information, refer to the WCN 7 Prospectus.
3D.10 Any other rate / multiplier used in calculating dividend/distribution rate
YesYes

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3D.10 Any other rate / multiplier used in calculating dividend/distribution rate
-1.5420 %
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 7 Prospectus.
3D.12 Total dividend/distribution rate for the period (pa)
3.5980 %
3D.13 Comment on how total distribution rate is set
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 23/06/2022: 1.7400% pa
+ Margin: 3.4000% pa
= 5.1400% pa
x (1 - Tax Rate): 0.70
= Distribution Rate: 3.5980% pa
The cash amount of the Distribution on each WCN 7 was calculated as follows:
Distribution Rate: 3.5980% pa
x Face Value: AUD 100
x days in Distribution Period: 92
/ 365
= cash amount of Distribution: AUD 0.9069 fully franked
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 7 Prospectus, which is available from
https://www.westpac.com.au/westpaccapnotes7
The Distribution payment is subject to Westpac's absolute discretion and the Distribution payment conditions being
satisfied in respect of the Distribution Payment Date.
As 22/09/2022 is not a Business Day, the Distribution payment will be made on the next Business Day, 23/09/2022.
5.2 Additional information for inclusion in the Announcement Summary