ANZ PPS offer indicative pricing and offer open

ANZ Bank New Zealand Limited (ANZ) has announced an offer of up to NZ$250 million (with the ability to accept unlimited oversubscriptions at ANZ's discretion) of perpetual preference shares (PPS) to New Zealand investors. The offer opens today, 4 March 2024, and is expected to close at 11.00am on 8 March 2024. The PPS will constitute Additional Tier 1 Capital for ANZ's regulatory capital requirements. The PPS will not have a fixed term and will remain on issue indefinitely if not redeemed by ANZ. If certain conditions are met, ANZ may redeem the PPS on the First Optional Redemption Date (19 March 2030) and each quarterly Scheduled Distribution Payment Date after that date, or at any time for tax or regulatory reasons. The indicative Issue Margin for the PPS is 3.25% - 3.45% per annum. The actual Issue Margin (which may be above or below the indicative Issue Margin range) and the Distribution Rate that will apply until the First Optional Redemption Date will be set following a bookbuild process on 8 March 2024 and will be announced by ANZ via NZX shortly after the completion of that process. Distributions are expected to comprise a cash amount and imputation credits. Distributions on the PPS are scheduled to be paid quarterly but are discretionary and will not be paid if certain conditions are not met. If a distribution is not paid for any reason, ANZ is under no obligation to pay that distribution at a later date. The PPS are expected to be issued on 19 March 2024. There is no public pool for the offer, with all of the PPS being reserved for clients of the Joint Lead Managers (details below), NZX Participants and other approved financial intermediaries. Investors can register their interest by contacting any of the Joint Lead Managers or their usual financial advice provider. Copies of the Limited Disclosure Document (LDD), ANZ's roadshow presentation and the indicative terms sheet are available from these same parties. Details of the offer and the PPS are contained in the LDD, available on the online Disclose Register maintained by the Companies Office (www.disclose-register.companiesoffice.govt.nz/ offer number OFR13716). This offer is being made in accordance with the Financial Markets Conduct Act 2013. Penny Dell Treasurer Phone: +64 4 439 2474 Email: nztreasurer@anz.com End CA:00427300 For:ANB Type:OFFER Time:2024-03-04 08:33:37