Exhibit 1
| ASX Release | Level 18, 275 Kent Street Sydney, NSW, 2000 |
3 October 2024
WESTPAC ENTERS INTO AGREEMENT TO SELL AUTO FINANCE LOAN BOOK
Westpac has entered into an agreement to sell its auto finance loans and lease receivables to Resimac Group Limited (ASX: RMC, “Resimac”).
The sale is anticipated to complete in the first half of 2025, with an expected transaction value of $1.4 - $1.6 billion. It is not expected to have a material impact to Westpac’s financial statements.
The sale will finalise Westpac’s divestment of its auto finance business, following the partial sale in 2021.
For further information:
| Hayden Cooper | Justin McCarthy |
| Group Head Media Relations | General Manager Investor Relations |
| M. 0402 393 619 | M. 0422 800 321 |
This document has been authorised for release by Tim Hartin, Company Secretary.
