ASB considers Note offer

ASB Bank Limited (ASB) announced today that it is considering making the following offer of unsecured unsubordinated notes (Notes) to institutional and New Zealand retail investors: - Up to NZ$100 million of a series of fixed rate notes with a term of 5 years, with the ability to accept unlimited over subscriptions at ASB's discretion. It is expected that full details of the offer will be released on 3 September 2018, when the offer is expected to open. The Notes are expected to be quoted on the NZX Debt Market. ASB is seeking preliminary indications of interest. Investors can register their interest in the offer by contacting Commonwealth Bank of Australia or their financial advisor. No indication of interest will involve an obligation or commitment to acquire the Notes. No money is currently being sought and the Notes cannot currently be applied for or acquired under the proposed offers. If ASB proceeds with the offer, it will be made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities. Released by: Chandu Bhindi, Treasurer, ASB Bank Limited Ph 09 337 4371, funding@asb.co.nz End CA:00323105 For:ABB Type:OFFER Time:2018-08-31 08:30:35