Westpac Banking : Self-Funding Instalments over securities in BHP

Structured Investments Level 11, Tower Two International Towers Sydney 200 Barangaroo Avenue

Barangaroo NSW 2000

Telephone: [phone] www.westpac.com.au/structuredinvestments

7 March 2017

Mr Martin Dinh Warrant Administration

Australian Securities Exchange Level 6, 20 Bridge St

Sydney NSW 2000

Dear Mr Dinh

Re: Westpac Self-Funding Instalments over securities in BHP Billiton Limited (BHP)

Westpac Banking Corporation, as issuer of Self-Funding Instalments ("SFI") over the following securities, notifies of a distribution/entitlement in respect of those securities:

Distribution/Entitlement of Security

Securities	BHP Billiton Limited (BHP)
Distribution/Entitlement	Estimated distribution
Amount	$0.5216 per security
Franking percentage	100%
Ex-distribution/Entitlement Date	9 March 2017
Record Date	10 March 2017
Payment Date	On or about 28 March 2017

As detailed in the applicable Product Disclosure Statement ("PDS"), SFI holders direct that dividends be applied to reduce the Completion Payment of the SFI. The following SFI will commence trading ex- distribution on the same date as the underlying securities are ex-distribution. Should the final distribution amount differ from the above mentioned estimated amount Westpac Banking Corporation reserves the right to account for the difference in a subsequent announcement.

Resulting Change in Completion Payment for Self Funding Instalments

ASX Code	Previous Completion Payment	Distribution applied to reduce Completion Payment	New Completion Payment
BHPSWJ	$12.3788	$0.5216	$11.8572
BHPSWR	$15.2791	$0.5216	$14.7575
BHPSWV	$17.3490	$0.5216	$16.8274
BHPSWW	$8.2688	$0.5216	$7.7472
BHPSWY	$19.5000	$0.5216	$18.9784

For further information please contact Westpac Banking Corporation on 1800 990 107.

For and on behalf of Westpac Banking Corporation