Anz Group Holdings Limited · ASX:ANZ
Anz — Debt Investor Presentation (May 2026)
76 slides from Anz's debt investor presentation, May 2026
Slide 1: 2026 Half Year Results Debt Investor Presentation
2026 Half Year Results Debt Investor Presentation Half year ended 31 March 2026 Results Presentation & Investor Discussion Pack ANZ Group Holdings Limited 9/833 Collins Street Docklands Victoria 3008 Australia ABN 16 659 510 791
Slide 2: Disclaimer & Important information
Disclaimer & Important information 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 pr
Slide 3: Disclaimer & Important information
Disclaimer & Important information No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information including projections, estimates, targets and opinions, contained herein or in any other part of the Presentation, and no liability whatsoever is
Slide 4: Disclaimer & Important information
Disclaimer & Important information No investment advice The information contained in this document has been prepared without taking into account the objectives, financial situation or needs of any person and any securities or strategies mentioned in it may not be suitable for all investors. Investor
Slide 5: Strategy
2026 Half Year Results Debt Investor Presentation Strategy
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: ANZ 2030 - Two phases to our strategy
ANZ 2030 - Two phases to our strategy1 First phase – Across FY26 & FY27 Second phase – Beyond FY27 Delivering on immediate priorities to get Realise the benefits of these strong the basics right foundations › Substantial improvement in productivity › Accelerate growth › Initial investment for growth
Slide 8: Embed new leadership team and drive a cultural reset
1. Embed new leadership team and continue to drive a cultural reset Our values Put customers first Deliver with excellence Own the outcome Work as one By providing better outcomes By setting high standards and By taking accountability By bringing the best of for customers every day delivering on com
Slide 9: Integrate Suncorp Bank faster to deliver value
2. Integrate Suncorp Bank faster to deliver value1 Integration activity since resetting the program as announced at ANZ strategy update in Oct 25, %2 Complete a safe and secure migration of Suncorp Bank to ANZ by June 2027 34% Complete Expectation to Sep 26 Remaining 57% 1. This page contains forwar
Slide 10: Accelerate the delivery of the single customer front-end
3. Accelerate the delivery of the single customer front-end1 Execution progress since resetting the program as announced at ANZ strategy update in Oct 25, %2 Deliver the single 13% customer front-end to our 8 million Retail and Small Business customers by September 2027 Complete Expectation to Sep 2
Slide 11: Reduce duplication and simplify the organisation
4. Reduce duplication and simplify the organisation1 Progress of estimated gross cost savings in FY26, Oct 25 to Mar 26, % Estimated gross cost savings of $800 million2 in FY26 announced at ~$800m2 strategy day in October 2025 Realised Remaining 49% 1. This page contains forward looking statements.
Slide 12: Enhance non-financial risk management to improve resilience
5. Enhance non-financial risk management to improve resilience1 Non-financial risk management progress On track to deliver Design • Released the second report by our Root Cause Promontory2 Remediation Plan, • Through the set-up phase of the approved by APRA Implement PACT3 program in September 2025
Slide 13: 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 14: HY26 Financial Results
2026 Half Year Results Debt Investor Presentation HY26 Financial Results
Slide 15: 1H26 overview
1H26 overview Financial performance & key financial metrics (ANZ 2030 strategy) Cash Profit Revenue/Avg RWA2 Cost to income ratio2 Return on tangible equity2 CET1 ratio3 $m +14% % 3,780 54.6 11.6 12.39 3,568 4.77 4.88 52.2 11.0 4.73 49.4 12.03 3,328 10.0 11.78 1,109 2,219 1H25 2H25 1H26 1H25 2H25 1H
Slide 16: 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 17: 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 18: Revenue – 1H26 v 2H25
Revenue – 1H26 v 2H25 $m Flat +1% 11,189 77 11,204 99 11,083 13 31 10,904 -205 2H25 2H25 excl Impact of FX Benefit from 2H25 excl Net interest Other operating Markets 1H26 significant items translation FX hedges significant items income1 income1 income on a constant currency basis % Reported, exclud
Slide 19: Markets revenue
Markets revenue Total Markets revenue composition, $m Markets revenue by Geography, $m +3% +7% +4% +8% 1,108 1,073 1,066 1,108 1,073 1,066 323 307 347 627 624 653 55 55 80 114 102 80 211 226 224 117 138 145 370 376 377 329 304 310 1H25 2H25 1H26 1H25 2H25 1H26 Foreign Exchange Credit & Capital Marke
Slide 20: Operating expenses
Operating expenses1 Updated guidance - FY26 expectation $m We expect costs to be down ~5% in FY26 off our FY25 cost base adjusted for significant items of $11.85b3 -9% 7,138 -8% 6,107 6,000 122 -107 -157 -10 5,534 -421 Includes Prioritised Suncorp Salary & wage investment and Synergies and third-par
Slide 21: Total investment spend
Total investment spend Investment Spend by Category, $m 1H25 2H25 1H26 921 Investment spend expensed 80% 84% 80% 770 420 680 Investment spend expensed, $m 612 777 546 373 319 Capitalised Software balance, $m 1,001 998 1,018 150 155 106 Amortisation expense, $m 148 200 137 309 213 220 Avg amortisatio
Slide 22: 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 23: 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 24: Provisioning
Provisioning Collective provision (CP) coverage ratio1, % CP loss coverage2, # of years 1.16 1.18 1.13 1.18 1.22 CP balance, $m 4,379 4,453 13.4 4,247 4,280 4,046 372 359 • CP charge of $126m in 1H26 • 2.5% increase to severe downside scenario (from downside scenario) 2,010 2,094 8.5 • Scenario weig
Slide 25: Total balance sheet composition
Total balance sheet composition Exposure at default1, $b Risk weighted assets, $b Net loans & advances, $b Customer deposits, $b 1,342 1,303 1,304 469 459 464 820 829 822 757 771 748 4% 2% 6% 3% 3% 5% 9% 9% 9% 7% 7% 7% 7% 8% 8% 7% 7% 8% 11% 10% 14% 13% 11% 13% 15% 15% 15% 14% 13% 14% 26% 26% 25% 39%
Slide 26: Net loans and advances
Net loans and advances Australia Retail, $b Business & Private Bank1, $b Suncorp Bank, $b New Zealand, NZDb Institutional, $b 349 354 68 217 216 341 66 67 74 143 205 5 5 5 5 72 73 136 140 4 4 41 48 13 12 24 25 34 13 24 2 2 21 2 14 21 37 38 38 336 344 348 59 60 62 111 114 116 155 154 150 25 25 25 Mar
Slide 27: Customer deposits
Customer deposits Australia Retail, $b Business & Private Bank, $b Suncorp Bank, $b New Zealand, NZDb Institutional, $b 189 124 56 56 56 119 293 299 183 187 119 119 116 282 113 1 1 7 7 7 1 53 55 57 34 37 35 55 127 16 15 15 52 55 135 115 37 31 31 41 38 60 61 63 22 41 19 20 20 22 22 73 79 79 125 133 4
Slide 28: Tracking our progress
Tracking our progress1 Key performance indicators Simplicity Resilience Delivering value Cost to income ratio (CTI)2 Common Equity Tier 1 (CET1) Ratio Return on Tangible Equity (ROTE)2 49.4% 12.39% 11.6% -519bps vs 2H25 +36bps vs Sep 25 +161bps vs 2H25 Estimated gross cost Suncorp Bank cost NFR reme
Slide 29: Group Treasury
2026 Half Year Results Debt Investor Presentation Group Treasury
Slide 30: ANZ Group capital
ANZ Group capital ANZ Group capital composition1, $b ANZ Bank Group key capital ratios (%) Mar 25 Sep 25 Mar 26 97.1 97.8 98.9 Level 2 CET1 capital ratio 11.8 12.0 12.4 Level 2 CET1 HoH mvmt -42 bps +25 bps +36 bps Additional Tier 1 capital ratio 1.6 1.6 1.6 32.8 33.8 33.7 Tier 1 capital ratio 13.4
Slide 31: 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 32: Regulatory capital
Regulatory capital ANZ Bank Group capital • Level 2 CET1 ratio of 12.39% (Level 1 CET1 ratio of 12.92%), an increase of 36bps from September 2025 driven by: • Reinvestment of surplus capital to ANZBGL as a result of ceasing the remaining ~$0.8 billion of the share buy-back, and returning surplus cap
Slide 33: Regulatory capital – risk weighted assets
Regulatory capital – risk weighted assets Risk weighted assets – Level 2, $b 9.7 9.0 464.0 458.5 0.2 0.9 451.9 -0.9 -3.6 -3.2 -6.6 Sep 25 FX impacts Sep 25 Divisional lending Risk Other Traded Operational IRRBB Capital floor Mar 26 FX adjusted impacts credit Market Risk Risk Overlay adjustment Risk
Slide 34: Balance sheet structure
Balance sheet structure1 NSFR movement, % Balance sheet composition, Mar 26 Offshore Short Term W’sale Debt 5% 3.1 0.1 Domestic Short Term W’sale Debt 5% 115 115 Wholesale Deposits, -2.1 Liquid and Other Assets -0.7 Repo and Other5 34% 14% Corporate, PSE and FI Lending 7% Operational Deposits 24% Se
Slide 35: Liquidity coverage ratio (LCR) summary
Liquidity coverage ratio (LCR) summary1 $4b decrease in average LCR surplus2 LCR composition, Average 1H26 $75b 2H25 1H26 309 Offshore short-dated Financial Avg LCR 133% Avg LCR 132% Institution (FI) deposits are Other LCR Liquids5 typically placed with Central Banks. Whilst this has no effect on 23
Slide 36: 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 37: 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 ~$2b of Tier 2 in 1H26 against an expected FY26 Tier 2 requirem
Slide 38: Australian TLAC in a global context
Australian TLAC in a global context Australian banks’ Tier 2 relative value Australia Canada Scandinavia United Kingdom Netherlands France Singapore 135 122 122 122 122 120 115 115 110 105 105 100 100 100 100 100 100 95 90 90 90 90 90 85 85 % RWA 35 30 A- BBB+ A- BBB A- A A A- A- A- ANZ 25 A- A- A-
Slide 39: Regulatory Updates
Regulatory Updates APRA Update • On 16 March 2026, APRA outlined a package of reforms across 3 key areas : 1. Liquidity : APRA will review APS210. This includes addressing risks not covered by current LCR requirements including intraday liquidity risk and cliff risk. It is also proposing to broaden
Slide 40: Capital and replicating deposits portfolio
Capital and replicating deposits portfolio1 Includes unhedged component Australia, % Portfolio earnings rate, Average % 5 Australia New Zealand 4 1H23 1.90% 1.93% 3 2H23 2.16% 2.43% 2 1H24 2.35% 3.06% 1 2H24 2.54% 3.57% 1H25 2.78% 3.78% 0 Jan 21 Jul 21 Jan 22 Jul 22 Jan 23 Jul 23 Jan 24 Jul 24 Jan 2
Slide 41: Foreign Currency Earnings Hedges
Foreign Currency Earnings Hedges1 Hedging Strategy Earnings Related Hedge P&L (pre-tax) ($m) • Where appropriate, the Group takes out economic hedges against foreign currency USD NZD 69 denominated revenue streams (primarily NZD and USD) • These hedges protect the Group’s reported earnings and capit
Slide 42: Capital & liquidity prudential outlook
Capital & liquidity prudential outlook1,2 2026 2027 2028 onwards Implementation Date APRA Additional Tier 1 Implementation 2027 Consultation/ APRA Credit Risk (Standardised) Capital TBC Implementation (TBC) Comprehensive review of APS210 (Liquidity) Consultation Implementation 2028 onwards Recovery
Slide 43: Risk Management & Housing
2026 Half Year Results Debt Investor Presentation Risk Management & Housing
Slide 44: Individual and collective credit impairment
Individual and collective credit impairment Individual provision (IP) charge / (release), $m Collective provision (CP) charge / (release), $m 106 159 168 1H24 2H24 1H25 2H25 1H26 148 38 269 215 Total CP charge / (release) 32 230 -14 128 126 164 224 205 37 40 32 80 44 Volume/Mix 63 210 17 -13 38 -163
Slide 45: Collective provision (CP) balance
Collective provision (CP) balance Provision balance by stage, Mar 26 $b Portfolio composition and coverage, Mar 26 % 2.5 CP 2.15 coverage 0.53% 1.22% 0.34% 0.48% 2.0 1.65 $826b $366b $1,304b $922b 1.5 100% 1.05 1.05 1.0 50% 0.5 0.0 0% Stage 1 Stage 2 Stage 3 Stage 3 Gross loans Credit RWA Exposure E
Slide 46: 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 47: 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 48: Long run loss rate based on current book mix
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 49: Non-performing exposures
Non-performing exposures Non-performing exposures, Non-performing Non-performing New non-performing $m Well secured exposures, $m Not well secured exposures, $m Not well secured exposures, $m By level of security By division By division By division 8,334 8,442 8,287 7,110 7,194 7,046 1,224 1,248 1,2
Slide 50: Risk weighted assets and exposure at default
Risk weighted assets and exposure at default Exposure at default1, $b Total risk weighted assets (RWA), $b Credit risk weighted asset drivers2, $b 1,342 1,303 1,304 447 469 459 464 1,260 432 1,151 22 23 21 5 12 3 3 369.6 9.3 20 43 3 50 51 54 55 1.0 366.4 15 422 382 28 32 40 374 390 38 31 -3.6 354 -6
Slide 51: Total portfolio composition
Total portfolio composition Non-performing 1 % of Non-performing not well Category % of Group EAD not well secured Exposure at Default (EAD) distribution secured to EAD1 ($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 52: Commercial Property
Commercial Property Outstandings by region, GLA1 $b Outstandings by sector, GLA1 % Commercial property collateral1,2, % 80% of portfolio well secured 7.4% 7.5% 7.5% 50% 62.8 62.1 7% 60.8 8% 8% 1.8 1.7 2.2 9.3 8.4 9.1 20% 24% 25% 29% 27% 25% 23% 49.5 51.7 52.0 22% 22% 23% 11% 9% 23% 22% 21% 1% Mar 26
Slide 53: ANZ Institutional portfolio
ANZ Institutional portfolio Size & tenor by market of EAD1 Industry composition, % of EAD1 Product composition, % of EAD1 Market of incorporation, % of EAD1 By market of incorporation, $b Mar 26 4% 2% 12% 3% 9% 1% 582 3% 3% 2% 32% 5% 2% 3% 3% 37% 44% 13% 7% 1% 7% 52% 8% 9% 26% 15% 13% 301 19% 17% 35
Slide 54: Institutional Asia portfolio
Institutional Asia portfolio Asia portfolio composition, % of EAD1 Asia industry composition, % of EAD1 Asia product composition, % of EAD1 Asia China Asia Asia $127b 2% 8% 2% 1% 7% 5% 4% 4% 1% 5% 2% 28% 15% 1% 5% 1% 21% 11% 1% 10% 68% 73% 15% 27% 54% Investment China grade 98% $16b Finance, Investm
Slide 55: Our Resources exposures
Our Resources exposures Resources Portfolio, EAD1 $b 17.0 16.2 0.5 1.2 15.3 0.8 14.6 0.7 0.9 0.4 0.2 1.1 0.7 1.2 0.5 0.9 1.0 1.7 1.2 1.0 11.1 10.6 10.7 5.4 0.5 0.2 0.1 0.1 0.6 0.5 0.4 4.0 4.4 4.9 0.6 0.6 1.3 1.6 1.5 4.5 4.4 4.7 7.8 7.4 8.2 7.0 4.0 3.6 3.3 Sep 16 Sep 18 Sep 20 Sep 22 Sep 24 Sep 25 Ma
Slide 56: Impaired assets
Impaired assets Gross Impaired Assets, Non-performing not well secured, $m $m From 2H26, ANZ will cease external disclosure of Gross Impaired By category Assets. The term ‘impaired’, previously defined by regulatory standards, has been replaced by non-performing, which has a 2,672 2,538 broader defi
Slide 57: 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 58: 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 59: 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 60: 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 61: New Zealand home loans – portfolio overview
New Zealand home loans – portfolio overview excluding Suncorp Bank Portfolio Flow Portfolio Flow Mar 24 Mar 25 Mar 26 1H25 1H26 Mar 24 Mar 25 Mar 26 1H25 1H26 Number of Home Loan Accounts 552k 562k 582k 30k 33k % Paying Interest Only 11% 10% 10% 17% 20% Total FUM (NZD) 109b 113b 119b 12b 15b % Payin
Slide 62: Environmental, Social and Governance (ESG)
2026 Half Year Results Debt Investor Presentation Environmental, Social and Governance (ESG)
Slide 63: 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 64: 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 65: 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 66: 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 67: Economics
2026 Half Year Results Debt Investor Presentation Economics
Slide 68: Australia & New Zealand economic forecast
Australia & New Zealand economic forecast 2021 2022 2023 2024 2025 2026f1 2027f1 Australia – GDP (% year-average) 5.4 4.2 2.1 1.0 2.0 2.0 1.5 Australia - headline CPI (% year-average) 2.9 6.6 5.6 3.2 2.8 4.5 3.0 Australia - unemployment (% Q4 avg) 4.7 3.5 3.9 4.0 4.3 4.5 4.5 Australia - Wage Price I
Slide 69: Global economic scorecard
Global economic scorecard United United New Category Australia France Germany Canada Kingdom States Zealand GDP growth (% y/y) 2.6% 1.0% 1.1% 0.3% 2.7% 1.0% 1.3% CPI inflation (% y/y) 3.2% 3.3% 2.2% 2.9% 3.3% 2.4% 3.1% Policy rate (cash rate) 4.35% 3.75% 2.00%3 2.00%3 3.75% 2.25% 2.25% 2yr swap rate
Slide 70: Australia & New Zealand housing
Australia & New Zealand housing ANZ Research Australia housing price growth forecasts, % y/y Australia property prices, % growth 5 Year Cumulative 6 Month Change Year on Year Change April 26 Change Total Houses Units Total Houses Units Total Houses Units Adelaide 7.7 7.7 8.0 12.2 12.1 13.4 77.4 77.7
Slide 71: RBA cash rate on extended hold at 4.35%
RBA cash rate on extended hold at 4.35% Trimmed mean (underlying) inflation ran above the RBA’s 2-3% Oil prices have risen sharply since the Middle East conflict target band over the year to Q1 2025 escalated, which has added to inflation pressures ANZ Research expects activity data to soften by Aug
Slide 72: Economic growth to weaken on higher oil prices and rates
Economic growth to weaken on higher oil prices and rates ANZ Research expects soft economic growth of 1.3% y/y in 2026, ANZ Research expects the unemployment rate to lift to 4.6% in reflecting the impact of higher inflation and rates on activity Q1 2027, reflecting softer economic activity Higher ra
Slide 73: Australia's exports are dominated by commodities
Australia’s exports are dominated by commodities China was Australia’s top export destination in 2025 In 2025, Australia’s top export was iron ore Exports, 2025 Exports, year to Q4 2025 Top export destinations % of Total2 Top exports1 % of Total2 ($billion AUD) ($billion AUD) China 195.7 29.4 Iron o
Slide 74: Higher LNG prices to lift Australian export revenues
Higher LNG prices to lift Australian export revenues Australia imports very little refined fuel directly from the Middle East Natural gas is Australia’s third-largest export, meaning higher gas prices but is indirectly highly dependent on Middle East refineries via Asia- since the escalation of conf
Slide 75: Debt levels in Australia
Debt levels in Australia Non-financial corporate debt as a share of GDP has picked up to its Government debt is forecast by the Treasury to rise in the coming years highest level since Q2 2022, but is still low compared to history 30 25 20 Net debt, % of GDP 15 10 5 0 -5 90 92 94 96 98 00 02 04 06 0
Slide 76: Key contacts
Key contacts Norfina Ltd (Suncorp ANZ Bank) ANZ Debt Investors Centre Adrian Went David Goode Scott Gifford Simon Lewis Group Treasurer Head of Head of Treasurer +61 3 8654 5532 Debt Investor Relations Group Funding Norfina Ltd (Suncorp Bank) +61 412 027 151 +61 410 495 399 +61 3 8655 5683 +61 7 336
ANZ Group Holdings — Debt Investor Presentation (May 2026) on 6ix