ASX RELEASE

Bank of Queensland Limited ABN 32 009 656 740

100 Skyring Terrace, Newstead 4006

GPO Box 898, Brisbane 4001

Telephone (07) 3212 3333

Facsimile (07) 3212 3409

www.boq.com.au

11 November 2016

AMENDMENTS TO 2016 ANNUAL REPORT

Bank of Queensland Limited (BOQ) has today lodged an updated 2016 Annual Report with the Australian Securities Exchange.

A summary of the amendments made to the Annual Report lodged with the ASX on 6 October 2016 are set out below:

  • Directors' Details for Mr Roger Davis, Mr Richard Haire, Ms Karen Penrose & Ms Michelle Tredenick on pages 8 & 9 have been amended to include details of all directorships of other listed companies held by these directors at any time in the 3 years immediately before the end of the financial year.

  • Page 9 has been amended to include Directors' Details for Mr Warwick Negus. Mr Negus was appointed to the BOQ Board on 22 September 2016.

    In addition, BOQ notes the following matters of clarification:

  • The reference to "non-functional" on page 52 should read "non-financial".

  • The last sentence under "Fee Pool" in Section 6. Non-Executive Director Remuneration on page 55 reads "The Board engaged Egan & Associates to provide a view of the current fee levels and based on this advice, will seek shareholder approval at the AGM for a 5% increase to Board and Committee fees for the 2017 year". BOQ wishes to clarify that, as per the Notice of Meeting dated 27 October 2016 for the 2016 Annual General Meeting (AGM), the specific approval being sought at the 2016 AGM is for an increase in the aggregate maximum amount of non-executive directors' fees from $2,600,000 per annum (inclusive of superannuation guarantee charge

(SGC) contributions) to $2,800,000 per annum (inclusive of SGC contributions).

Ends For further information please call:

Media Contact

Natasha Somerville - Senior Manager External Relations P: 07 3212 3018 E: Natasha.Somerville@boq.com.au

Analyst Contact

Daniel Ryan, Head of Investor Relations

P: 07 3212 3990 E: Daniel.Ryan@boq.com.au

BOQ

ANNUAL REPORT

2016

YEAR ENDED 31 AUGUST 2016

CONTENTS

CHAIRMAN AND MANAGING DIRECTOR & CEO'S LETTER 5

DIRECTORS' REPORT 7

Directors' details 8

Operating and financial review 11

REMUNERATION REPORT

Introductory message 44

Remuneration report 45

LEAD AUDITOR'S INDEPENDENCE DECLARATION 67

FINANCIAL REPORT

Income statements 70

Statements of comprehensive income 71

Balance sheets 72

Statements of changes in equity 73

Statements of cash flows 77

Notes to the financial statements 78

OTHER INFORMATION

Directors' declaration 135

Independent auditor's report to the members 136

Shareholding details 138

Shareholder information 141

5 Year Financial Summary 142

Glossary 143

FIND OUT MORE ABOUT HOW

WE'RE DELIVERING OUR STRATEGY AT

BOQ.COM.AU/ANNUAL_REPORTS/2016

2 ANNUAL REPORT 2016

BOQ FY16 RESULTS

A GOOD RESULT IN A CHANGING OPERATING ENVIRONMENT

PROFIT RESULTS

($) MILLIONS

248

186

301

261

357

318

360

338

CASH EARNINGS

$360M

UP 1% SINCE FY15

STATUTORY NET PROFIT

$338M

UP 6% SINCE FY15

EARNINGS & DIVIDENDS

(CENTS PER SHARE)

2014

2015

2013

2014

2015

2016

LOAN IMPAIRMENT EXPENSE

($) MILLIONS

90

66 $67M

2016

BASIC CASH EARNINGS PER SHARE

$96C

DOWN 2% SINCE FY15

97

74

96

76

DIVIDENDS PER SHARE

$76C

UP 3% SINCE FY15

115

8674

DOWN 9%

SINCE FY15

2013

2014

2015

2016

67

NET INTEREST MARGIN

1.94

%

3BPS

%

CASH COST TO INCOME RATIO

46.8

80BPS

RETURN ON EQUITY

10.3

%

40BPS

Bank of Queensland Limited and its Controlled Entities ABN 32 009 656 740 AFSL No. 244616 3

Bank of Queensland Limited published this content on 11 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 11 November 2016 01:34:06 UTC.

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