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Commonwealth Bank of Australia ACN 123 123 124 Financial Report (U.S. Version) Year Ended 30 June 2010 Contents Introduction 2 Directors‟ Report 3 Financial Statements 31 Income Statements 32 Statements of Comprehensive Income 33 Balance Sheets 34 Statements of Changes in Equity 35 Statements of Cash Flows 37 Notes to the Financial Statements 39 Directors‟ Declaration 170 Independent Audit Report 171 Introduction Introduction The Commonwealth Bank of Australia Financial Report (U.S. Version) – Year Ended 30 June 2010, which contains the Financial Statements for the years ended 30 June 2008, 2009 and 2010 and as of 30 June 2009 and 2010 (the “2010 Financial Report”) should be read in conjunction with: The Commonwealth Bank of Australia Financial Report (U.S. Version) – Year Ended 30 June 2009, which contains the Financial Statements for the years ended 30 June 2007, 2008 and 2009 and as of 30 June 2008 and 2009 (the “2009 Financial Report”); as found on the U.S. Investor Website located at http://www.commbank.com.au/usinvestors. 2 Commonwealth Bank of Australia Financial Report (U.S. Version) 2010 Directors‟ Report The Directors of the Commonwealth Bank of Australia submit Chairman: Television New Zealand Limited, Capital and Coast their report, together with the financial report of the District Health Board, New Zealand Venture Investment Fund, Commonwealth Bank of Australia (“the „Bank”) and of the Hawke‟s Bay District Health Board and PGG Wrightson Limited. Group, being the Bank and its controlled entities, for the year Other Interests: Institute of Financial Professionals New Zealand ended 30 June 2010. (Fellow), Institute of Directors (Fellow), New Zealand Institute of The names of the Directors holding office during the financial Chartered Accountants (Fellow), Australian Institute of Banking year are set out below, together with details of Directors‟ and Finance (Life Member). experience, qualifications, special responsibilities and Sir John is a resident of Wellington, New Zealand. Age 65. organisations in which each of the Directors have declared an interest. Colin R Galbraith, AM Mr Galbraith has been a member of the Board since 2000 and is David J Turner, Chairman a member of the Risk Committee, Audit Committee and Board Mr Turner was appointed to the Board in August 2006 and has Performance & Renewal Committee. He is a special advisor for been Chairman since 10 February 2010. He is Chairman of the Gresham Partners Limited. Board Performance and Renewal Committee and a member of the Risk Committee and the People & Remuneration Chairman: BHP Billiton Community Trust. Committee. Director: OneSteel Limited and Australian Institute of Company Directors. From May 2008 until May 2010, Mr Turner was Chairman of Cobham plc. Until his retirement on 30 June 2007, Mr Turner Other Interests: CARE Australia (Director) and Royal Melbourne was CEO of Brambles Limited, occupying the role since October Hospital Neuroscience Foundation (Trustee). 2003. He joined Brambles as Chief Financial Officer in 2001, Mr Galbraith is a resident of Victoria. Age 62. having previously been Finance Director of GKN plc. Mr Turner has also served as a member of the Board of Whitbread plc and Jane S Hemstritch as Chairman of its Audit Committee from 2000 until 2006. He is Ms Hemstritch was appointed to the Board effective 9 October a Fellow of The Institute of Chartered Accountants in England 2006. She is Chairman of the People & Remuneration and Wales and has extensive experience in finance, Committee and a member of the Risk Committee. international business and governance. Ms Hemstritch was Managing Director - Asia Pacific for Mr Turner is a resident of New South Wales. Age 65. Accenture Limited from 2004 until her retirement in February Ralph J Norris, KNZM, Managing Director and Chief 2007. In this role, she was a member of Accenture‟s global executive leadership team and oversaw the management of Executive Officer Accenture‟s business portfolio in Asia Pacific. She holds a Mr Norris was appointed as Managing Director and Chief Bachelor of Science Degree in Biochemistry and Physiology and Executive Officer effective September 2005. From 2002, Mr has professional expertise in technology, communications, Norris was Chief Executive Officer and Managing Director of Air change management and accounting. She also has experience New Zealand having been a Director of that Company since across the financial services, telecommunications, government, 1998. He retired from that Board in 2005 to take up his position energy and manufacturing sectors and in business expansion in with the Group. He is a member of the Risk Committee. Asia. Mr Norris has a 30 year career in Banking. He was Chief Director: The Global Foundation, Tabcorp Ltd and Santos Ltd. Executive Officer of ASB Bank Limited from 1991 until 2001 and Head of International Financial Services from 1999 until 2001. Other Interests: Institute of Chartered Accountants in Australia (Fellow), Institute of Chartered Accountants in England and In 2005, Mr Norris retired from the Board of Fletcher Building Wales (Fellow), Chief Executive Women Inc. (Member), Council Limited where he had been a Director since 2001. of Governing Members of The Smith Family and CEDA‟s Policy Chairman: Australian Bankers‟ Association and Comm- and Research Committee (Member) and Council of the National Foundation Pty Limited. Library of Australia (Member). Director: Business Council of Australia and Financial Markets Ms Hemstritch is a resident of Victoria. Age 56. Foundation for Children. Carolyn H Kay Other Interests: New Zealand Institute of Management (Fellow) Ms Kay has been a member of the Board since 2003 and is also and New Zealand Computer Society (Fellow). a member of the Audit, People & Remuneration and Risk Mr Norris is a resident of New South Wales. Age 61. Committees. She holds Bachelor Degrees in Law and Arts and a Graduate Diploma in Management. She has extensive Sir John A Anderson, KBE experience in Finance, particularly in International Finance, Sir John joined the Board on 12 March 2007. He is a member of having worked as both a banker and a lawyer at Morgan the Risk Committee and Board Performance and Renewal Stanley, JP Morgan and Linklaters & Paines in London, New Committee. Sir John is a highly respected business and York and Australia. community leader, having held many senior positions in the New Director: Allens Arthur Robinson, Brambles Industries Limited Zealand finance industry including Chief Executive Officer and and Sydney Institute. Director of ANZ National Bank Limited from 2003 to 2005 and the National Bank of New Zealand Limited from 1989 to 2003. Other Interests: Australian Institute of Company Directors (Fellow) and Chief Executive Women‟s Inc (Member). In 1994, Sir John was awarded Knight Commander of the Civil Division of the Order of the British Empire, and in 2005 received Ms Kay is a resident of New South Wales. Age 49. the inaugural Blake Medal for “Outstanding Leadership Contributions to New Zealand”. Commonwealth Bank of Australia Financial Report (U.S. Version) 2010 3 Directors‟ Report Andrew M Mohl John M Schubert, Chairman (retired 10 February 2010) Mr Mohl was appointed to the Board effective 1 July 2008 and is Dr Schubert was a member of the Board from 1991 and a member of the Risk and People & Remuneration Committees. Chairman from November 2004, until his retirement in February He has over 30 years of financial services experience. Mr Mohl 2010. He was Chairman of the Board Performance & Renewal was Managing Director and Chief Executive Officer of AMP Committee and a member of the Risk Committee and People & Limited from October 2002, until December 2007. Remuneration Committee. He holds a Bachelor‟s Degree and PhD in Chemical Engineering and has executive experience in Mr Mohl‟s previous roles at AMP included Managing Director, AMP Financial Services and Managing Director and Chief the petroleum, mining and building materials industries. Dr Investment Officer, AMP Asset Management. Schubert is the former Managing Director and Chief Executive Officer of Pioneer International Limited and the former Chairman Mr Mohl was a former Group Chief Economist and Managing and Managing Director of Esso Australia Ltd. Director, ANZ Funds Management at ANZ Banking Group. He began his career at the Reserve Bank of Australia where his Chairman: G2 Therapies Limited, Great Barrier Reef Found- roles included Senior Economist and Deputy Head of Research. ation. Director: BHP Billiton Limited, BHP Billiton Plc and Qantas Chairman: Federal Government Export Finance and Insurance Airways Limited, Committee for Economic Development of Corporation. Australia. Director: AMP Foundation. Other Interests: Academy of Technological Science and Other Interests: Coaching services to senior executives, Engineering (Fellow), Institute of Engineers (Fellow) and (Member) the Advisory Council of the Australian School of Honorary Member & Past President, Business Council of Business and the Corporate Council of the European Australian Australia. Business Council (Member). Dr Schubert is a resident of New South Wales. Age 67. Mr Mohl is a resident of New South Wales. Age 54. David Turner succeeded John Schubert as Chairman in Fergus D Ryan February 2010. Mr Ryan has been a member of the Board since 2000 and is Reg J Clairs, AO (retired 13 April 2010) Chairman of the Audit Committee and a member of the Risk Committee. He has extensive experience in accounting, audit, Mr Clairs was a member of the Board since 1999. He was Chairman of the People & Remuneration Committee, and a finance and risk management. He was a senior partner of Arthur Andersen until his retirement in 1999, after 33 years with that member of the Risk Committee. As the former Chief Executive firm, including five years as Managing Partner Australasia. Until Officer of Woolworths Limited, he has 33 years experience in retailing, branding and customer service. 2002, he was Strategic Investment Co-ordinator and Major Projects Facilitator for the Commonwealth Government.

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