Anz Group Holdings Limited · ASX:ANZ
Anz — Debt Investor Presentation (September 2026)
63 slides from Anz's debt investor presentation, September 2026
Slide 1: ANZ Debt Investor Update
ANZ Debt Investor Update September 2026 ANZ Group Holdings Limited 9/833 Collins Street Docklands Victoria 3008 Australia ABN 16 659 510 791
Slide 2: Disclaimer & important notice
. Disclaimer & important notice Background information only The information set out in this document and any accompanying verbal presentation including any question and answer session and any documents or other materials distributed with the presentation (together, the "Presentation") has been prepa
Slide 3: Disclaimer & important notice
Disclaimer & important notice No reliance None of the material in this document or any other part of the Presentation is intended to be and should not be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs o
Slide 4: Strategic Update
Strategic Update Debt Investor Presentation
Slide 5: ANZ's distinctive portfolio
ANZ’s distinctive portfolio Two scale markets, two market-leading positions and a well-diversified business model Australia Business Australia Retail Institutional New Zealand and Private Bank Top 4 Top 4 #1 #1 Institutional Bank across major bank major bank Australia and New Zealand market leader f
Slide 6: Five immediate priorities
Five immediate priorities1 Embed new leadership team and continue to drive a cultural reset 1 New Executive Committee and corporate values in place Integrate Suncorp Bank faster to deliver value 2 On track to complete a safe and secure migration of Suncorp Bank customers to ANZ by June 2027 Accelera
Slide 7: Our targets
Our targets1 ✓ Increase Return on Tangible Equity (ROTE) towards 12% by FY28 and towards 13% by FY30 Achieve a cost-to-income ratio in the mid-40s percent by FY28 and sustained through to ✓ FY30, including ✓ Estimated gross cost savings of $875 million to be delivered in FY26 ✓ Estimated Suncorp Ban
Slide 8: Financial Results
Financial Results Debt Investor Presentation
Slide 9: Cash profit – Half Year
Cash profit – Half Year $m 1H25 2H25 1H26 (1H26 vs 2H25) Statutory Profit 3,642 2,249 3,650 +62% Cash Profit 3,568 2,219 3,780 +70% On a constant Significant items included in Cash Profit1: 0 (1,109) 0 currency basis2 Cash Profit adjusting for 2H25 significant items 3,568 3,328 3,780 +14% +14% > Rev
Slide 10: Revenue & expenses
Revenue & expenses Total revenue, $b Revenue composition, % 11.2 10.5 11.0 10.9 1.1 1.1 1.1 1.0 1.3 1.3 1.1 0.9 8.2 8.8 8.9 8.8 16% 27% 2H24 1H25 2H25 1H26 NII ex Markets OOI ex Markets Markets 1H26 $11,204m Total expenses, $b 4% 7.1 5.7 0.7 5.5 5.5 0.1 1.4 30% 0.1 0.9 0.9 7% 1.0 1.1 1.2 1.0 1.0 0.4
Slide 11: Net interest margin (NIM)
Net interest margin (NIM) bps Group NIM -1bp Excluding impact of Markets activities +2bps 1 156 2 154 2 153 0 0 -3 -3 Timing impact of rate changes Impact of lower Primarily Largely higher policy rates favourable reinvestment Competition in offset by pricing deposit growth rates Australia, primarily
Slide 12: Portfolio credit quality
Portfolio credit quality Individual provision charge and loss rate Consumer portfolio 90+ DPD2, % Non-performing exposures3, % Loss rate1, bps 1 3 4 4 4 1.0 0.55 0.57 0.55 Charge, $m 0.83 0.50 0.8 0.80 0.44 159 168 106 148 38 0.6 264 301 295 249 201 0.48 0.4 -142 -127 -101 -163 -158 0.2 1H24 2H24 1H
Slide 13: Customer deposits
Customer deposits Australia Retail, $b Business & Private Bank, $b Suncorp Bank, $b New Zealand, NZDb Institutional, $b +4% +3% -5% +4% +2% +0% +1% +1% +5% -2% 189 189 126 57 120 308 314 182 121 124 56 55 119 299 115 1 1 7 1 7 7 51 57 56 34 37 37 55 56 137 127 142 17 15 15 54 35 31 33 25 24 25 21 22
Slide 14: Net loans and advances
Net loans and advances Australia Retail, $b Business & Private Bank, $b Suncorp Bank, $b New Zealand, NZDb Institutional, $b +4% +6% +0% +5% -4% +4% +2% +1% -1% +7% 68 71 354 361 67 145 229 346 5 73 74 73 143 220 5 4 5 138 5 5 205 13 12 12 25 25 50 24 2 46 2 2 34 37 38 40 20 21 22 341 348 355 60 62
Slide 15: Capital, Funding & Liquidity
Capital, Funding & Liquidity Debt Investor Presentation
Slide 16: Capital, funding & liquidity
Capital, funding & liquidity1 APRA Level 2 CET1 ratio – 3Q26 movement, % 0.40 -0.15 0.05 12.51 12.39 -0.18 1 2 3 Mar 26 Cash Profit Underlying RWA (excl IRRBB) Capital deductions, Capital floor adjustment Jun 26 ANZBGL Group IRRBB & other ANZBGL Group APRA Level 2 CET1 ratio call outs Funding and li
Slide 17: Capital ratios on a Basel Harmonised basis
Capital ratios on a Basel Harmonised basis Level 2 capital ratio (APRA vs Basel Harmonised)1, % APRA Level 2 CET1 ratio – 31 March 2026 12.4% Australia APRA requires cohort specific multipliers (i.e. 1.4x for Owner Residential Occupier Principal and Interest & 1.7x for all Other mortgage types) +1.0
Slide 18: Term wholesale funding
Term wholesale funding1 ANZ has access to a diverse range of wholesale funding Portfolio composition5 • Term funding issuance in 1H26 of $16b against a full year target of ~$30-35b across ANZBGL (~$20-25b), Product ANZNZ (~$4b) and Suncorp Bank (~$3-4b) • ANZ’s future term funding issuance depends o
Slide 19: Tier 2 and AT1 portfolio
Tier 2 and AT1 portfolio1 ANZ is well placed to meet Tier 2 requirements Tier 2 capital, Notional amount % • ANZ has a diversified approach to sourcing Tier 2 funding and issued in GBP and AUD in 1H26 Callable 2% AUD • ANZBGL has issued ~$2b of Tier 2 in 1H26 against an expected FY26 Tier 2 requirem
Slide 20: Australian TLAC in a global context
Australian TLAC in a global context Australian banks’ Tier 2 relative value Australia Canada Scandinavia United Kingdom Netherlands France Singapore 135 122 122 122 122 120 115 115 110 105 105 100 100 100 100 100 100 95 90 90 90 90 90 85 85 % RWA 35 30 A- BBB+ A- BBB A- A A A- A- A- ANZ 25 A- A- A-
Slide 21: Regulatory Updates
Regulatory Updates1 APRA Update • On 16 March 2026, APRA outlined a package of reforms across 3 key areas : 1. Liquidity : APRA will review APS210. This includes addressing risks not covered by current LCR requirements including intraday liquidity risk and cliff risk. It is also proposing to broaden
Slide 22: Risk Management
Risk Management Debt Investor Presentation
Slide 23: Non-performing credit exposures & 90+ days past due
Non-performing credit exposures & 90+ days past due Non-performing credit exposures Consumer portfolio2 90+ days due as a % of portfolio balances as a % of total exposures1 0.60 0.57% 1.50 0.55% 0.55% 0.55% 0.55 0.50 1.25 0.45 0.40 1.00 0.35 0.30 0.75 0.25 0.20 0.50 0.15 0.10 0.25 0.05 0.00 0.00 Mar
Slide 24: Expected credit loss – Economic scenarios and modelled outcomes
Expected credit loss – Economic scenarios and modelled outcomes Mar 26, $m Average weightings to scenarios to determine Economic scenarios Actual Base case 1 CP balance 31 March 2026 CY2024A CY2025A CY2026F CY2027F 1% 46% 38% 15% Australia GDP change2 1.0% 1.9% 2.0% 2.0% Unemployment rate3 4.0% 4.2%
Slide 25: Credit impairment charges & historical loss trends
Credit impairment charges & historical loss trends ANZ historical loss rates1, bps Total credit impairment charge, $m 250 1,800 1,500 200 1,200 900 150 600 300 100 0 -300 50 -600 0 -900 Sep Sep Sep Sep Sep Sep Sep Sep Sep Mar 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23 1H24 2H242 1H252 2H252 1H262 91 95
Slide 26: Long run loss rate based on current book mix ~11bps
Long run loss rate based on current book mix ~11bps Total exposures, EAD % Average Group observed loss rates (IPC/GLA), bps 38 Post Basel II (2008 – 2026) loss rate adjusted for current book mix 11bps 2% 1% 2% Other 24 16 14% Sovereigns 11 20% 9% Banks & FI 1991 - 2025 2001 - 2025 2011 - 2025 2016 -
Slide 27: Total portfolio composition
Total portfolio composition Non-performing 1 % of Non-performing not well Category % of Group EAD not well secured Exposure at Default (EAD) distribution secured to EAD1 ($M) Mar 25 Sep 25 Mar 26 Mar 25 Sep 25 Mar 26 Mar 26 Consumer Lending 41.7% 43.5% 43.8% 0.1% 0.1% 0.1% 356 4.0% Finance, Investme
Slide 28: Australian mortgage portfolio
Australian mortgage portfolio Debt Investor Presentation
Slide 29: The structure of the Australian mortgage market has resulted in very low losses
ANZ – European Covered Bond Conference Investor Update The structure of the Australian mortgage market has resulted in very low losses through various cycles Australian Mortgage Market Characteristics Full Recourse • All mortgage lending is full recourse • Most mortgage lending is in variable rate f
Slide 30: Australia home loans – portfolio overview
Australia home loans – portfolio overview excluding Suncorp Bank Portfolio1 Flow Portfolio1 Mar 24 Mar 25 Mar 26 1H25 1H26 Mar 24 Mar 25 Mar 26 Home Loan accounts2 950k 940k 923k 86k 84k Average LVR at Origination9,10 66% 66% 65% Total FUM $314b $333b $346b $42b $44b Average Dynamic LVR (excl. offse
Slide 31: Australia home loans – portfolio composition & flow
Australia home loans – portfolio composition & flow excluding Suncorp Bank By purpose, % of total balances By location, % of total balances Portfolio1,2 Portfolio1 1% 1% 1% 6% 6% 7% 31% 31% 32% 10% 10% 10% 15% 16% 17% 33% 33% 32% 68% 68% 67% 36% 35% 34% Mar 24 Mar 25 Mar 26 Mar 24 Mar 25 Mar 26 Owne
Slide 32: Australia home loans – portfolio resilience
Australia home loans – portfolio resilience excluding Suncorp Bank Home Loans repayment profile1,2 Home Loans on time and <1 month ahead profile 2,3 % of accounts ahead of repayments % composition of accounts 40 37% 39% 41% 20 15% 4% 13% 16% 9% 3% 39% 44% 40% 0 Overdue On Time <1 month 1-3 3-6 6-12
Slide 33: Australia home loans – portfolio performance
Australia home loans – portfolio performance excluding Suncorp Bank Home loans 90+ DPD ( by state) 1,2 Home loans delinquencies1,2,3 % of portfolio segment balances % of portfolio segment balances 1.1 2.5 2.0 1.0 1.5 0.9 1.0 0.5 0.8 0.0 Sep Mar Sep Mar Sep Mar Sep Mar Sep Mar Sep Mar Sep Mar 0.7 19
Slide 34: Mortgages in Possession (MIPs)
Mortgages in Possession (MIPs) • Management of impaired assets and Mortgages in Possession are performed by ANZ’s Retail Collections function. • At this stage of the collections cycle, accounts are reviewed and an updated valuation on the security asset is obtained to determine the appropriate provi
Slide 35: Underwriting framework
Underwriting framework Activity Description ▪ All applications subject to Credit Bureau check (Comprehensive Credit Reporting) including Repayment History Credit Bureau Information (RHI) and Financial Hardship Information (FHI) Credit Scorecard ▪ ANZ Proprietary system used in determining a customer
Slide 36: ANZ may use various valuation types to estimate Fair Market Value
ANZ may use various valuation types to estimate Fair Market Value Valuation type Details Lending Criteria Full valuation - A full long form valuation is based on the internal inspection of the property and includes comparable sales API Property PRO report standard - Full or Tentative on Completion (
Slide 37: Home Loans collections operating model
Home Loans collections operating model Our Collections Philosophy… “Minimise Delinquency and loss through timely actions that are realistic, reasonable and sustainable for customers and ANZ.” • ANZ’s Retail Collections function manages accounts through the different stages of the delinquency life cy
Slide 38: ANZ Cover Pool
ANZ Cover Pool Debt Investor Presentation 38
Slide 39: ANZ Covered bonds
ANZ Covered bonds COVER POOL SUMMARY COMPOSITION AND QUALIFYING CRITERIA Weighted average LVR Portfolio summary at 22 July 2026 51 Covered Bond Pool + Cash $15.4bn 37 Covered Bonds on issue $11.5bn 24 Average loan size $419,338 13 15 Weighted Ave Current LVR 61.66% 10 12 13 14 9 2 0 0 Weighted Ave I
Slide 40: Covered bonds – collateral change (since December 2024)
ANZ – European Covered Bond Conference Investor Update Covered bonds – collateral change (since December 2024) Portfolio Summary (as at Trust Dec 2024 Mar 2025 Jun 2025 Dec 2025 Mar 2026 Jul 2026 Payment Date) Cover Pool (inc. cash) $20.9bn $20.9bn $15.4bn $15.4bn $15.4bn $15.4bn Covered Bonds on is
Slide 41: Covered bonds on issue as at July 2026
Covered bonds on issue as at 22 July 2026 Covered Bonds ANZ covered bonds – issuance tenor Bonds Outstanding ($A$) $11.5bn Cover Pool (A$) + Cash in GIC account $15.4bn 12% 17% 3 yr Program Ratings (Moodys / Fitch)1 Aaa/AAA 28% 4 yr Number of Issues O/s 9 5 yr Number of Currencies 3 44% 15+ yr WA Te
Slide 42: ANZ Covered Bond Program
ANZ Covered Bond Program Debt Investor Presentation 42
Slide 43: Australian covered bond legislation
ANZ – European Covered Bond Conference Investor Update Australian covered bond legislation • Covered bond issuance permitted pursuant to the Banking Act 1959 since October 2011. • Authorised deposit taking institutions (ADIs) to be covered bond issuer, with dual recourse to issuer (first) and the co
Slide 44: ANZ Residential covered bond program
ANZ – European Covered Bond Conference Investor Update ANZ Residential covered bond program Issuer • Australia and New Zealand Banking Group Limited (ANZBGL and ANZ) Issuer Rating1 • AA-/A1+ (S&P), Aa2/P-1 (Moody’s), AA-/F1+ (Fitch) Program Size • US$30,000,000,000 Covered Bond Rating1 • Aaa (Moody’
Slide 45: Parties to the program
ANZ – European Covered Bond Conference Investor Update Parties to the program • ANZBGL Additional roles include: Residual Income Unitholder & Residual Capital Unitholder Calculation Manager Currency & interest rate swap provider Issuer and Seller Interest Rate Swap provider Contingent Covered Bond S
Slide 46: Program Structure
ANZ – European Covered Bond Conference Investor Update Program Structure ANZBGL ANZBGL Interest Rate Swap Provider Covered Bond Swap Provider Housing Loans and Related Securities Demand Loan and ANZBGL Intercompany Loan Perpetual Corporate Trust Limited Issuer as trustee of the ANZ Residential ANZBG
Slide 47: Program structural enhancements
ANZ – European Covered Bond Conference Investor Update Program structural enhancements • Prior to a Notice to Pay, the Asset Coverage Test is performed on the relevant Determination Date to ensure sufficient assets to support the value of outstanding covered bonds. Over-collateralization • After a N
Slide 48: Program structural enhancements
ANZ – European Covered Bond Conference Investor Update Program structural enhancements For Hard Bullet Covered Bonds maturing within the next 12 months, Pre-Maturity Ledger Moody’s: below P-1 must be funded by the A$ equivalent of the Required Redemption Amount. Pre Maturity Test Fitch: below F1+ /
Slide 49: Cover pool, the demand & intercompany loans
Cover pool, the demand & intercompany loans Excess OC Senior Above Demand Minimum • The Asset Coverage Test is an ongoing test to ensure the adjusted aggregate receivable Loan Contractual amount (AARA) is equal to or greater than A$ equivalent of Covered Bonds Amount outstanding. Sub- Minimum Excess
Slide 50: Asset coverage test
ANZ – European Covered Bond Conference Investor Update Asset coverage test • Tested monthly on every determination date prior to the service of a Notice to Pay • The Asset Coverage Test is intended to test that the value of housing loans, cash, and other eligible assets is greater than the A$ equiva
Slide 51: Amortisation Test
ANZ – European Covered Bond Conference Investor Update Amortisation Test • Tested monthly on every determination date after the service of a Notice to Pay. • The Amortisation Test is intended to test that the value of the Covered Bond Guarantor’s assets are at least equal to the A$ equivalent of out
Slide 52: Issuer event of default and covered bond guarantee
ANZ – European Covered Bond Conference Investor Update Issuer event of default and covered bond guarantee Include: • Default in principal or interest for 14 days • Failure by the Issuer to perform other obligations under the Covered Bonds (subject to any specified notice and right to remedy Issuer E
Slide 53: Environmental, Social and Governance
Environmental, Social and Governance Debt Investor Presentation 53
Slide 54: Our ESG approach and related disclosures
Our ESG approach and related disclosures Our suite of ESG reports are produced to meet the needs of our key external stakeholders, including our investors and customers, and take account of our social, environmental and economic risks and opportunities. Our ESG approach is focused on responding to s
Slide 55: Our ESG targets
Our ESG targets1 Targets with half-year updates Performance as at 31 March 2026 $10 billion Fund and facilitate at least $10 billion of investment by end 2030, We have funded and facilitated $8.33 billion towards the target since it social housing2 including $750 million in 2026, to deliver homes to
Slide 56: Our Large Emitters Engagement Program
Our Large Emitters Engagement Program1 • We have been engaging with large emitting customers since 2018, How our LEEP customers are placed in 20252 which has evolved to now focus on our LEEP cohort. 24 49 77 • We review our LEEP customers’ transition plans against our Emerging Progressing Mature ass
Slide 57: Our sectoral pathways to transition our lending to net-zero financed emissions
Our sectoral pathways to transition our lending to net-zero financed emissions1 Sector2 2030 Interim Target reduction Status Sectoral pathways and targets Power generation 54% (2020 baseline) ON-TRACK supporting customer decarbonisation Oil and gas 32% (2020 baseline) ON-TRACK • This year, we review
Slide 58: Economics
Economics Debt Investor Presentation 58
Slide 59: Australia & New Zealand economic forecasts
Australia & New Zealand economic forecasts 2022 2023 2024 2025 2026f1 2027f1 2028f1 Australia – GDP (% year-average) 4.2 2.1 1.0 2.0 1.9 1.3 2.0 Australia - headline CPI (% year-average) 6.6 5.6 3.2 2.8 3.9 2.8 2.5 Australia - unemployment (% Q4 avg) 3.5 3.9 4.0 4.3 4.5 4.8 4.7 Australia - Wage Pric
Slide 60: Global economic scorecard
Global economic scorecard1, 2 United United New Category Australia France Germany Canada Kingdom States Zealand GDP growth (% y/y) 2.5 1.2 0.7 0.30 2.1 1.7 1.5 CPI inflation (% y/y) 3.2 2.9 2.1 2.8 3.4 3.0 4.1 Policy rate (cash rate) 4.35 3.75 2.253 2.253 3.75 2.25 2.50 2yr swap rate (spread to cash
Slide 61: The budget and dwelling prices
The budget and dwelling prices The changes to capital gains tax and negative gearing are likely to put modest downward pressure on housing prices, leaving them a few percentage points lower than otherwise in the long run. Behavioural and sentiment effects in the short run will dominate, however. Dai
Slide 62: House price and credit growth forecasts
House price and credit growth forecasts House price forecasts Credit growth forecasts 62
Slide 63: Key contacts
Key contacts Norfina Ltd (Suncorp ANZ Bank) ANZ Debt Investors Centre Penny Dell David Goode Scott Gifford Simon Lewis Group Treasurer (Acting) Head of Head of Treasurer Debt Investor Relations Group Funding Norfina Ltd (Suncorp Bank) +64 2162 4293 +61 410 495 399 +61 3 8655 5683 +61 7 3362 4037 Pen
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