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Media Release

Strategic review of options for CFSGAM, including IPO

Strategic review of options for CFSGAM, including IPO

Commonwealth Bank of Australia (ASX:CBA) announces that it is undertaking a strategic review of its global asset management business, Colonial First State Global Asset Management (“CFSGAM”), also known outside of Australia as First State Investments (“FSI”).

CFSGAM is a global, diversified investment management business with A$219 billion in Assets Under Management (“AUM”), which has achieved significant growth, scale and diversification under Commonwealth Bank’s ownership.

The strategic review will consider a range of options, including an IPO.

This review will consider long-term Commonwealth Bank shareholder value, including whether a separately listed CFSGAM would be better able to grow its business, serve the interests of its clients and attract and retain key personnel.