1. Differentiation Institutional and Business Services Salomon Smith Barney Financial Services Conference Michael Ullmer 4 March 2003

2. Institutional & Business Services - 1 - The material that follows is a presentation of general background information about the Bank’s activities current at the date of the presentation, 4 March 2003. It is information given in summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate. Disclaimer

3. Institutional & Business Services - 2 - Speaker’s Notes Speaker’s notes for this presentation are attached below each slide. To access them, you may need to save the slides in PowerPoint and view/print in “notes view.”

4. Institutional & Business Services - 3 - We have reorganised our business into client and product groups Institutional Banking Corporate Banking Business Banking Global Markets Working Capital Services Institutional Banking Manage Client relationships Design and manufacture product People Risk Management Technology Brand Capital and risk management solutions for Institutions and governments in the domestic and international market Local relationship management for corporate clients in Australia and the top institutional / corporate clients in New Zealand Integrated financial services for small, medium and rural businesses throughout Australia Financial markets facing activities including debt capital markets, foreign exchange, derivatives money market, and commodities. Product range embracing the full capital structure from senior debt to mezzanine to equity using project finance, structured finance, and corporate lending Products to support financial and operational working capital needs, such as transaction banking, merchant acquiring and asset financing

5. Institutional & Business Services - 4 - The elements of our Competitive Advantage are: Superior understanding of our client’s needs Excellent understanding of risk & return trade-off Tailored client relationship management, locally based providing excellent service/effective sales Integrated product offering with innovative niches Talented People focused on achieving flawless execution

6. Institutional & Business Services - 5 - Our new client segments better reflect our client base and will facilitate improvement of segment economics Source: CBA CRIS Quarter March 2002 annualised; Taylor Nelson Sofres July 2002; ABS 2000-2001; Greenwich & Associates 2000; BRW Top 1000 Companies Client Turnover ($m) Client Total Footings ($m) Business ModelSegment Focus Segment Small Institutional Top Tier Corporate Regional SME Segmentation criteria Number Of Clients Business Corporate >150 10-150 >5 0.85-5 0.15-0.85 <0.15 800 2,200 9,200 4,300 59,000 118,000 Relationship Managed Relationship Managed Centrally Share of wallet New Clients Share of Wallet New Clients Share of Wallet Corporate Focus New Clients Share of Wallet Regional Focus Share of wallet Cost

7. Institutional & Business Services - 6 - Our business models for Corporate and Business Banking involve changes to a number of areas Sales Service CreditProduct Corporate SME Small Segment Top Tier Business Banking Corporate Banking Increased client satisfaction through local dedicated Relationship Executives with product support Relationship served through sales centre and ‘mobile’ salesforce Streamlined service team aligned with RE and service centre for day-to- day maintenance to speed up simple enquiries Mostly through service centre with extended hours of support Streamlined processes for top- ups, property secured and existing relationships to improve client service (instead of mostly full analysis) Majority of applications ‘fast tracked’ to improve client service (instead of mostly full analysis) Tailored from standard product to meet more complex client needs Rationalised from over 100 products to standard packages making choice for the client simple and reducing costs Local Relationship Management Centralised Relationship Management Regional

8. Institutional & Business Services - 7 - On the product front, we have an integrated offering with innovative niches... Institutional Environmental initiatives Infrastructure financing Specialised Lease advisory Clients Working Capital Services Transaction Banking Global Markets Local presence Corporate Bonds Precious metals Other Divisions Retail Financial Services Premium Financial Services Investment and Insurance Services

9. Institutional & Business Services - 8 - …while maintaining a sound credit profile Top 20 exposures as a % of Total Committed Exposure Dec 2000 Dec 2001 Dec 2002 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% Commercial Portfolio 29 27 29 15 14 36 39 40 17 19 20 0% 20% 40% 60% 80% 100% AAA/AA*ABBBOther Dec 01 Jun 02Dec 02

10. Institutional & Business Services - 9 - Strong execution skills are crucial to client service BIZ PLAN Priorities Actions Outcomes Developed new strategy Set key strategic priorities Strategy Key factor for success Underpinned by people Execution Flawless execution of strategy and client service is crucial Deliver top quartile performance

11. Institutional & Business Services - 10 - In summary, highlights of differentiation are Deliver top quartile performance over rolling five year periods Superior understanding of our client’s needs Excellent understanding of risk & return trade-off Locally based client relationship management Integrated product offering Flawless Execution

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