Wealth Management Craig Coleman Managing Director Australia and New Zealand Banking Group Limited 24 August 2001

Page 2 Background and dimensions Established 1/10/00 Private Bank, Premier (Personal Banking), Financial Planning Not the FM business (ANZ Investments) 522,000 mass affluent customers –24% captured mass affluent –76% touched by ANZ 216,000 directly managed Frontline Staff –310 Planning Staff –108 Specialists –199 Relationship Staff –130 NZ $34 billion FUA –24% Managed Investment –51% Mortgages –25% Banking Products

Page 3 A specialist approach to wealth management Growth earnings growth investment Different business model and focus customer offer Opportunity large, execution risk low $115b in uncaptured balances

Page 4 Profit After Tax Targeting strong growth from a low base Cost Income $m % FUA $bn Targets NPAT CAGR 25% FUA CAGR 15% Cost to Income 59% by 2004

Page 5 AdviceDistr.AdminManuf. Protection AdviceDistr.AdminManuf. Banking Products Where we choose to specialise Mass Affluent segment All financial needs Advice and distribution Advice Distri- bution Admin Asset Mgt AdviceDistr.AdminManuf. Managed Investments Mortgages

Page 6 Personalised –Advice-based solutions –Life event or goal driven –Choice of involvement Holistic –Relationship knowledge and specialist expertise –Complete but select product offer –Multiple channels, consistent experience Non-conflicted –Best of breed product and services –Optimise for the customer –FUA dominates incentive structure Our customer proposition

Page 7 Large opportunity, execution risk low Other ANZ Share 28.3% 1.9m $115b of untappe d balances Touch a high number of affluent customers Significant untapped customer balances Proven ability to build deep relationships Total Wallet ANZ Share Total market Total Wallet Trans. Mortg. Dep/ other. Managed Investment 46% 38% 31% 6% Product share ANZ Share Deep Transactional 75% 10% Relationship type Source: Roy Morgan $115b of untappe d balances

Page 8 Three Strategies to Drive Performance and Growth FUA Margin Strategies 1. Customer Offer 2. Advisor Effectiveness 3. Product and Services No. Of Customers Share Of Wallet Revenue

Page 9 Adviser effectiveness - productivity $m Net Inflows (excluding cash & risk) * Includes ANZ, Gateway, third party and trustee sales Performance Management CRM System and Lead Management $m Retail inflow per advisor (excluding cash & risk) Source: Deutsche, Wealth Management June 2001

Page 10 CRM System and Lead Management  Segment  Single View  Leverage CRM for our 216,000  Leverage branch for remainder of 522,000 and new to ANZ 100,000 customers ‘mass affluent to ANZ’ ‘First’ 116,000 ‘mass affluent to industry’ 8 databases into 1 Analysis and insights Library of needs-based queries 9 programs in Phase 1 System that works -1,000 leads per week -30% conversion Improve ability to harness -case size -quality

Page 11 Adviser effectiveness - capacity More planners –Internal ‘pipeline’ supplemented by external recruitment Adviser Workbench Channel integration and education Practices model Number of planning staff and specialists

Page 12 Practice Partner Client Advisors Financial Advisory Specialists Various relationship roles Lending/ Gearing Super Investment Risk Typical Practice Structure 40 ‘Practices’ throughout Australia/New Zealand Advisers now structured into professional practices FROM Silos focused on product sales Performance management driven by individual sales Culture of product distribution Multidisciplinary teams to meet all customer needs Performance management focused on total FUA including team/practice component Professional services ‘franchise’ TO

Page 13 Product and Services – easy wins Extension Margin Mix Gearing Integrated wrap Private Bank to Mass Affluent Market pricing Fee for service Cash to Managed Funds Master Trust

Page 14 Our Timetable – perform and grow 1/10/0031/3/011/4/0130/9/011/10/0131/3/021/4/0230/9/02 WM Establishe d Market transfer pricing Practices in place New performance management incentives 90 additional planner roles Lead management (eg CRM) Customer offer (release 1) Advisor ‘workbench’ 95 Additional planner roles Customer offer (release 2) Margin & mix initiatives Segmentation Lead management (branches) Adviser effectiveness

Page 15 A specialist approach to wealth management Targets NPAT CAGR 25% FUA CAGR 15% Cost to Income <60% Growth earnings growth investment Different business model and focus customer offer Opportunity large, execution risk low $115b in uncaptured balances