Redemption of ASB Capital Ltd Perpetual Preference Shares

On 6 February 2019 Commonwealth Bank of Australia ("CBA") announced that it intends to redeem all ASB Capital Limited Perpetual Preference Shares (ticker code ASBPA) on 15 May 2019, being a dividend payment date. CBA will procure that its New Zealand subsidiary CBA Funding (NZ) Limited will exercise its right to buy out these Perpetual Preference Shares in accordance with the terms of the securities (the "Buy-Out"). The Buy-Out will take effect after payment of the accrued dividends due on that dividend payment date. The Buy-Out Price will be NZ$1.00 for each Perpetual Preference Share, and will be paid to holders on 15 May 2019. The Buy-Out Notice will be sent to the registered holders. An example of the Buy-Out Notice which is being sent to holders is attached for reference. ENDS Released by: Eddie Carrasco, Head of Secretariat, ASB Bank Limited asbsecretariat@asb.co.nz For enquiries, contact: Chandu Bhindi, General Manager Treasury, ASB Bank Limited Ph 09 337 4371 funding@asb.co.nz End CA:00330218 For:ASB Type:SECISSUE Time:2019-02-07 08:31:35