2026 First Quarter Trading Update

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ANZ today announced [1] an unaudited Statutory Profit for the quarter ended 31 December 2025 (1Q26) of $1.87 billion and a Cash Profit of $1.94 billion.

Cash Profit was up 75% on the quarterly average of the second half of the financial year ended 30 September 2025 (2H25 qtr avg), with 2H25 impacted by significant items. Excluding the impact of these significant items, Cash Profit was up 17% driven by a significant reduction in expenses and an improvement in revenue and Cash Return on Tangible Equity (RoTE) was up 173 basis points (bps) to 11.7%.

ANZ’s Common Equity Tier 1 (CET1) Ratio at 31 December 2025 was 12.15%, up 12 bps from 30 September 2025.

Overview of financial performance

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CEO Commentary

ANZ Chief Executive Officer Nuno Matos said: “The quarterly result highlights the early progress we are making in executing our ANZ 2030 strategy.

“Our productivity program aimed at removing duplication and simplifying the bank is well underway, delivering a significant reduction in expenses while growing revenue. There was an improvement across our key financial metrics, including the return on tangible equity which rose to 11.7% and cost to income ratio to below 50%.

“Looking ahead, we continue to be fully engaged in executing our ANZ 2030 strategy. This is the beginning of our five-year journey to become the best bank for customers and shareholders in Australia and New Zealand,” Mr Matos concluded.

Progress under ANZ 2030 strategy

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Overview of financial performance (1Q26 vs 2H25 quarterly average, excluding significant items)

•  Revenue increased 1%, with 0.4% growth in net interest income and 5% growth in other operating income. Increase in other operating income was primarily from Markets, with total Markets income of $557 million, up 5%. Group Net Interest Margin (NIM) improved 2bps to 1.56%. Excluding Markets activities, Group NIM was up 3bps, primarily benefiting from favourable funding mix shift towards operational deposits and higher earnings on replicating portfolios, offsetting the impact of central bank rate reductions and asset competition.
• Customer deposits increased $39 billion, up 5% (31 December 2025 vs 30 September 2025). Excluding Markets, deposits were up $12 billion with growth across all divisions. Net loans and advances increased $8 billion, up 1% (31 December 2025 vs 30 September 2025), including Institutional lending up $5 billion.
• Delivered an 8% reduction in expenses in 1Q26, including from actions to reduce duplication and simplify the organisation. There is no change to the FY26 cost guidance provided at our FY25 results.[1]
• Key financial metrics improved in 1Q26, with RoTE up 173bps, Revenue to average Risk Weighted Assets (RWA) up 14bps and the Cost-to-Income ratio down 505bps.

Credit quality

• Portfolio losses remain low, reflecting strong overall credit quality and customer resilience under relatively lower interest rates and unemployment. We remain cautious on the outlook, given ongoing global economic uncertainty and the recent increase in the cash rate.
• The 1Q26 Individual provision (IP) charge was $64 million, $20 million lower than the 2H25 quarterly average, and represents a 3bps annualised IP loss rate (2H25 4bps annualised IP loss rate).
• The Collective Provision balance remained stable at $4.38 billion with a Collective Provision balance to credit Risk Weighted Assets coverage ratio of 1.19%, up 1bp from 30 September 2025.
• Australian Housing 90+ Days Past Due (DPD) was 81bps and NZ Housing 90+ DPD was 82bps at 31 December 2025 (both 86bps at 30 September 2025).
• Non-performing exposures to total credit exposure was 0.78% at 31 December 2025, down 1bp from 30 September 2025.

Capital, funding and liquidity

• Level 2 CET1 capital ratio for Australia and New Zealand Banking Group Limited (ANZBGL and, together with its subsidiaries, ANZBGL Group) was 12.15% at 31 December 2025. The increase of 12bps from 30 September 2025 largely reflects quarterly earnings and the return of surplus capital to ANZBGL, including capital from ceasing the remaining ~$800 million of the share buy-back as announced in October 2025. These were partly offset by capital usage in 1Q26, including the payment of the final 2025 dividend and underlying credit risk weighted asset growth.
• Liquidity ratios remained broadly stable in 1Q26, with the average liquidity coverage ratio of 133% and a net stable funding ratio of 116% at 31 December 2025, both remaining well above regulatory minimums.
• $11.2 billion of term wholesale debt was issued across the ANZBGL Group from 1 October 2025 to date.

Further detail on key financial metrics, credit quality, capital and balance sheet, including drivers in 1Q26 are provided in ANZ’s 2026 First Quarter Trading Update and Pillar 3 Discussion Pack.

[1] Unless otherwise stated (i) 1Q26 financial results are presented on a Cash Profit basis, and (ii) quarterly performance is compared with 2H25 quarterly average excluding the impact of significant items (2H25 ex significant items: Revenue $11,189m, Expenses $6,107m, Profit Before Provisions $5,082m, Cash Profit $3,328m). For further information on 2H25 significant items, refer to pages 10 and 14 of ANZ Group Holdings Limited (ANZGHL) 2025 Consolidated Financial Report Dividend Announcement and Appendix 4E available on the ANZ shareholder website.

[2] Refer page 25 of ANZ’s 2025 Full Year Results – Results Presentation & Investor Discussion Pack.

Important Information

References to “ANZ” and “ANZ Group” are to ANZ Group Holdings Limited ABN 16 659 510 791 and its controlled entities.

This page contains general background information about the activities of the ANZ Group current as at 11 February 2026. It is information given in summary form and does not purport to be complete.

It is not 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 of any particular investor. These should be considered, with or without professional advice, when deciding if an investment is appropriate.

This page may contain certain forward-looking statements or opinions including statements regarding our intent, belief or current expectations with respect to the ANZ Group’s business operations, market conditions, results of operations and financial condition, capital adequacy, specific provisions and risk management practices. These matters are subject to risks and uncertainties that could cause the actual results and financial position of the ANZ Group to differ materially from the information presented herein. When used on this page, the words ‘guidance’, ‘forecast’, ‘estimate’, 'goal', 'target', 'indicator', 'plan', 'pathway', ‘ambition’, ‘modelling’, ‘project’, ‘intend’, ‘anticipate’, ‘believe’, ‘expect’, ‘may’, ‘probability’, ‘risk’, ‘will’, ‘seek’, ‘would’, ‘could’, ‘should’ and similar expressions, as they relate to the ANZ Group and its management, are intended to identify forward-looking statements or opinions. Forward-looking statements or opinions may also be otherwise included in this document, including by the use of footnotes. Those statements are usually predictive in character; or may be affected by inaccurate assumptions or unknown risks and uncertainties or other factors, many of which are beyond the control of the ANZ Group or may not be known to the ANZ Group at the time of the preparation of this content, such as general global economic conditions, external exchange rates, competition in the markets in which the ANZ Group will operate, and the regulatory environment. Each of these statements and related actions is subject to a range of assumptions and contingencies, including the actions of third parties. As such, these statements should not be relied upon when making investment decisions.

There can be no assurance that actual outcomes will not differ materially from any forward-looking statements or opinions contained herein.

The forward-looking statements or opinions only speak as at 11 February 2026 and no representation is made as to their correctness after this date. No member of the ANZ Group undertakes to publicly release the result of any revisions to these statements to reflect events or circumstances after this date to reflect the occurrence of unanticipated events.

All amounts on this page are in Australian dollars unless otherwise stated and all financial performance metrics are on a cash profit basis unless otherwise stated. Sum of parts within charts and commentary may not equal totals due to rounding.

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