NOTICE OF REDEMPTION

relating to

COMMONWEALTH BANK OF AUSTRALIA

(the Issuer)

USD 60,000,000 Zero Coupon Callable Notes due 29 November 2046

under the U.S.$70,000,000,000

Euro Medium Term Note Programme

(ISIN XS1523186697)

(the Notes)

COMMONWEALTH BANK OF AUSTRALIA (the Issuer) hereby irrevocably gives notice to the holders of the above Notes that it is exercising its option under Condition 6(c) of the Notes to redeem all of the Notes on the Optional Redemption Date falling on 29 November 2021 at the Optional Redemption Amount of USD 1,223,982.11 per Calculation Amount (as specified in the Final Terms relating to the Notes dated 29 November 2016 (the Final Terms)).

Furthermore, the Issuer hereby provides notice that it intends to cancel the listing of the Notes, which are listed on the Official List of the FCA and admitted to trading on the London Stock Exchange.

Accordingly, the Issuer will request the Financial Conduct Authority to cancel the listing of the Notes on or around 29 November 2021.

Capitalised terms used but not otherwise defined hitherto shall have the meanings ascribed to them in the Final Terms.

For further information, please contact:

Group Funding
Ground Floor

Darling Park, Tower 1

201 Sussex St

Sydney

Telephone:       +61 2 9118 1339

Email:              groupfunding@cba.com.au

Dated 16 November 2021