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Remuneration Overview –

This table shows the VR awarded to the CEO and current Disclosed Executives for the year ending 30 September 2018, and what this represents as a % of their target opportunity and maximum opportunity.

The average variable remuneration awarded to the CEO and current Disclosed Executives is 78% of target (53% of maximum),

which appropriately re ects ANZ’s overall performance and the impact to the overall ANZIP variable remuneration pool.

Only the cash component will be received this year. The deferred shares will vest evenly over four years. The performance rights may or may not vest when tested against the performance hurdles in three years’ time.

Target opportunity
Maximum opportunity
S Elliott
VR1 $3,150,000
(75% of target, 60% of max2)
M Carnegie
VR $1,600,000
(80% of target, 53% of max)
K Corbally3
VR $499,500
(83% of target, 55% of max)
A George
VR $1,075,000
(61% of target, 41% of max)
D Hisco
VR $1,952,719
(83% of target, 56% of max)
M Jablko
VR $1,750,000
(88% of target, 58% of max)
F Ohlsson
VR $1,200,000
(60% of target, 40% of max)
M Whelan
VR $2,175,000
(91% of target, 60% of max)
Deferred shares or deferred share rights
Performance rights face value at threshold vesting 4

1. VR for the CEO = AVR + LTVR (LTVR subject to shareholder approval at the 2018 Annual General Meeting).

2. % of max for the CEO = 150% of AVR target plus LTVR target (face value at threshold vesting). The maximum opportunity arrow for the CEO is not to scale, given there is no max for LTVR.

3. Remuneration disclosed from commencement in Disclosed Executive role, CRO receives deferred share rights instead of performance rights.

4. Multiply by two to convert to face value at full vesting for performance rights.