News Release Half-year Results 20 February Review of results and operations. Excluding significant items a

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News Relese 2018 Hlf-yer Results 20 Februry 2018 Review of results nd opertions Hlf-yer ended 31 December 2017 Reported Excluding significnt items Vrince to pcp (exc. sig. items) Operting revenue $35.

1 News Relese 2018 Hlf-yer Results 20 Februry 2018 Review of results nd opertions Hlf-yer ended 31 December 2017 Reported Excluding significnt items Vrince to pcp (exc. sig. items) Operting revenue $35.9b $35.9b 2.8% Ernings before interest nd tx $1,113m $2,350m (3.3%) Net profit fter tx $212m $1,535m (2.7%) Bsic ernings per shre $0.19 $1.36 (3.2%) Operting csh flow per shre (wnos, incl. res shres) $2.56 $ % Return on equity (R12) 6.4% 12.0% 1.8 ppts Interim dividend (fully-frnked) per shre $1.03 $ excludes pre-tx (post-tx) significnt items of $931 million ($1,023 million) relting to Bunnings United Kingdom nd Irelnd, nd $306 million ($300 million) relting to Trget ROE excludes post-tx non-csh impirments of $1,844 million. Wesfrmers Limited hs reported net profit fter tx (NPAT) of $212 million for the hlf-yer ended 31 December The reported profit includes post-tx significnt items of $1,323 million relting to Bunnings United Kingdom nd Irelnd (BUKI) nd Trget. Excluding these significnt items, NPAT for the hlf-yer decresed 2.7 per cent to $1,535 million. Mnging Director Rob Scott sid the continued strong momentum in Bunnings Austrli nd New Zelnd (BANZ), Kmrt nd Officeworks, in competitive retil environment, ws highlight for the hlf. Strong production volumes nd higher col prices in the Resources business contributed to significnt increse in the Industrils division s ernings, Mr Scott sid. Higher ernings cross mjority of the Group s businesses were offset by losses in BUKI nd lower Coles ernings following plnned investments in price nd service. The Group generted record operting csh flows of $2,897 million for the hlf, supported by proctive working cpitl mngement. Strict cpitl disciplines were mintined nd the Group retined very strong blnce sheet, with improvements chieved in its credit metrics. In December 2017, the Group nnounced n greement to sell the Currgh col mine for $700 million, which lso includes vlue shre mechnism 1 tht llows Wesfrmers to prticipte in possible future col price increses. On successful completion of the trnsction, which is subject to number of conditions precedent, the Group expects to record post-tx profit on sle of pproximtely $100 million. In line with the Group s dividend policy, which considers ernings, csh flows, frnking credits nd credit metrics, the directors hve declred n interim dividend of $1.03 per shre, in line with the previous corresponding period. 1 Wesfrmers will receive 25 per cent of Currgh s export col revenue generted bove relised metllurgicl price of US$145 per tonne, pid qurterly over the next two yers.

2 Wesfrmers Limited 2018 Hlf-yer Results Pge 2 Group results summry Hlf-yer ended 31 December ($m) Vrince % Key finncils Revenue 35,903 34, EBITDA 1,763 3,064 (42.5) EBITDA (excluding significnt items) 3,000 3,064 (2.1) EBIT 1,113 2,429 (54.2) EBIT (excluding significnt items) 2,350 2,429 (3.3) NPAT 212 1,577 (86.6) NPAT (excluding significnt items) 1,535 1,577 (2.7) Return on equity (excluding significnt items) b (R12, %) ppts Csh flow Operting csh flow 2,897 2, Net cpitl expenditure Free csh flow 2,228 2,231 (0.1) Csh relistion rtio (excluding significnt items),c (%) ppts Shre dt (cents per shre) Bsic ernings per shre (86.7) Bsic ernings per shre (excluding significnt items) (3.2) Operting csh flow per shre (wnos, incl. res shres) d Interim ordinry dividend Blnce sheet nd gering Net finncil debt e 3,864 5,360 (27.9) Interest cover f (csh bsis) (R12, times) Fixed chrges cover f (R12, times) excludes pre-tx (post-tx) significnt items of $931 million ($1,023 million) relting to BUKI nd $306 million ($300 million) relting to Trget. b 2017 excludes post-tx significnt items of $1,323 million excludes post-tx non-csh impirments of $1,844 million. c Operting csh flows s percentge of net profit fter tx, before deprecition nd mortistion nd significnt items. d Clculted by dividing operting csh flows by the weighted verge number of ordinry shres (including reserved shres) on issue during the yer. e Interest bering libilities less csh t bnk nd on deposit, net of cross currency interest rte swps nd interest rte swp contrcts. f 2017 excludes pre-tx significnt items of $1,237 million excludes pre-tx non-csh impirments of $2,116 million.

3 Wesfrmers Limited 2018 Hlf-yer Results Pge 3 Divisionl ernings summry Hlf-yer ended 31 December ($m) Vrince % EBIT Bunnings Austrli nd New Zelnd Bunnings United Kingdom nd Irelnd (165) (48) n.m. Coles b (14.1) Deprtment Stores c Officeworks Industrils d Divisionl EBIT 2,421 2,468 (1.9) Other (71) (39) (82.1) Significnt items e (1,237) - n.m. Reported EBIT 1,113 2,429 (54.2) n.m. = not meningful 2017 excludes pre-tx significnt items of $931 million, including non-csh impirments, write-offs nd provisions includes $21 million of restructuring nd one-off repositioning costs b 2016 includes $39 million profit on sle of Coles interest in number of joint venture properties to ISPT. c 2017 excludes pre-tx non-csh impirment of $306 million relting to Trget includes $13 million of restructuring costs ssocited with the plnned reloction of Trget s store support office. d 2016 includes $22 million profit on sle of lnd for Wesfrmers Chemicls, Energy nd Fertilisers (WesCEF). e 2017 includes pre-tx significnt items of $931 million relting to BUKI nd $306 million pre-tx non-csh impirment of Trget. Performnce overview Divisionl Bunnings Austrli nd New Zelnd Revenue for BANZ incresed 10.2 per cent to $6,566 million for the hlf, with ernings before interest nd tx (ernings or EBIT) incresing 12.2 per cent to $864 million. BANZ chieved nother very strong result during the hlf, underpinned by continued sles growth cross ll of its mrket segments, productivity inititives nd operting leverge, Mr Scott sid. The solid momentum in BANZ reflected continued strong execution of its strtegy, with further investments mde in customer vlue, product rnges, the store network nd digitl. BANZ s return on cpitl incresed during the period nd continued to be strong chrcteristic of its performnce. Bunnings United Kingdom nd Irelnd BUKI reported loss before interest nd tx of 97 million ($165 million) for the hlf, compred to loss of 28 million ($48 million) in the prior corresponding period. Revenue for BUKI decresed 15.5 per cent to 517 million (15.7 per cent to $875 million). The loss for the hlf reflected continued trding nd execution chllenges s result of the rpid repositioning of Homebse following the cquisition, Mr Scott sid. The mngement tem hs been strengthened nd review is underwy to identify the ctions required to improve shreholder returns. In ddition to BUKI s reported loss, pre-tx significnt items of 531 million ($931 million) were recorded in the hlf, reflecting the current trding performnce of Homebse nd moderted outlook for BUKI. Coles Coles ernings decresed 14.1 per cent to $790 million for the hlf, with revenue brodly in line with the prior corresponding period. The decline in ernings reflected the nnulistion of investments mde in the customer offer in the 2017 finncil yer, lower property ernings due to one-off gin in the prior yer, lower finncil services ernings following the sle of Coles credit crd receivbles in Februry 2017 nd lower fuel ernings. Coles mintined good sles momentum during the hlf, with trnsction growth ccelerting in the second qurter nd reching the highest level of qurterly comprble trnsction growth in six qurters, Mr Scott sid. The business continued to improve its customer offer cross vlue, qulity, product innovtion nd service, resulting in overll improvements in customer stisfction metrics.

4 Wesfrmers Limited 2018 Hlf-yer Results Pge 4 Liquor progressed its trnsformtion, continuing to generte positive comprble sles growth, while Coles Express ernings decresed due to chnges in the commercil terms of its fuel supply rrngement. Deprtment Stores Revenue for the Deprtment Stores division incresed 3.2 per cent to $4,769 million, with continued strong growth in Kmrt prtilly offset by lower sles in Trget. Deprtment Stores ernings incresed 7.2 per cent to $415 million, the highest level of combined Kmrt nd Trget first hlf ernings since the 2010 finncil yer. Kmrt invested significntly in the customer offer during the hlf, delivering greter vlue for customers nd driving continued growth in volumes, Mr Scott sid. Trget stbilised its ernings through productivity inititives nd improved trding mrgins, while continuing to reposition its merchndise offer. Good cpitl disciplines resulted in strong csh result for the Deprtment Stores division. During the hlf, pre-tx non-csh impirment of $306 million ws recorded in Trget. The impirment reflected difficult trding conditions in n incresingly competitive mrket nd moderted outlook for the business. Officeworks Officeworks revenue incresed 9.7 per cent to $1,017 million, with ernings lso incresing 9.7 per cent to $68 million. Strong sles growth, coupled with effective cost control, delivered n increse in return on cpitl of 1.8 percentge points to 15.7 per cent, Mr Scott sid. Growth ws driven by continued improvements in the core offer, complemented by new nd expnded product rnges, improvements in lyouts nd store design, nd further enhncement of the omnichnnel offer. Industrils Ernings for the Industrils division were $449 million, $72 million higher thn the prior corresponding period, lrgely reflecting higher col prices nd strong production volumes in the Resources business, Mr Scott sid. Ernings for Wesfrmers Chemicls, Energy nd Fertilisers (WesCEF) were $188 million for the period, compred to underlying ernings of $165 million in the prior yer, with higher Chemicls nd Energy ernings prtilly offset by lower Fertilisers ernings due to continued competitive price pressures. During the hlf, the mmonium nitrte (AN) business successfully commenced production nd sles of AN emulsion, providing new lterntive use for AN production, Mr Scott sid. Ernings from the Industril nd Sfety business of $52 million were in line with the prior yer. A strong focus on opertionl efficiencies, nd improved pricing nd sourcing disciplines, offset 1.7 per cent decline in revenue to $869 million nd investments in supply chin, merchndising nd customer service, Mr Scott sid. Resources ernings of $209 million were $71 million bove the prior corresponding period, primrily due to revenue growth of 44.3 per cent. Growth in revenue reflected the continued strength in export col prices nd strong production volumes in Currgh, prtilly offset by higher unit csh costs resulting from inititives to increse production, Mr Scott sid. Other businesses nd csh flows Other businesses nd corporte overheds, excluding significnt items, reported n expense of $71 million compred to n expense of $39 million in the previous corresponding period. A stronger contribution from BWP Trust ws offset by higher corporte expenses, which included incresed provisions for clims ssocited with the 2011 New Zelnd erthqukes tht re expected to be greter thn ws nticipted t the time of the sle of the Insurnce underwriting business. Significnt items of $1,237 million (pre-tx) were recorded during the hlf, reflecting impirments, writedowns nd provisions in BUKI of $931 million nd impirments in Trget of $306 million.

5 Wesfrmers Limited 2018 Hlf-yer Results Pge 5 Operting csh flows incresed $249 million to $2,897 million for the hlf, driven by continued good working cpitl mngement. Reflecting the strong csh genertion during the hlf, the csh relistion rtio incresed 12.9 percentge points to per cent 2. Gross cpitl expenditure of $1,004 million ws $80 million or 8.7 per cent higher thn the prior corresponding period, primrily due to the cquisition of the rights to the Kmrt brnd nme in Austrli nd New Zelnd for $100 million, nd dditionl BANZ store openings, prtilly offset by lower expenditure in Coles due to the timing of store refurbishments. Net cpitl expenditure incresed $286 million to $686 million, reflecting lower proceeds from property disposls compred to the prior yer, which included one-off trnsctions in Coles nd WesCEF. The increse in net cpitl expenditure offset the growth in operting csh flows during the hlf, resulting in free csh flows of $2,228 million. In line with the Group s dividend policy, which considers ernings, csh flows, frnking credits nd credit metrics, the directors hve declred n interim dividend of $1.03 per shre, fully-frnked. Outlook The Group will continue to focus on delivering stisfctory returns to shreholders by improving its underperforming businesses, proctively mnging its portfolio nd investing in vlue-ccretive growth opportunities. Csh flow genertion, cpitl disciplines nd blnce sheet strength will continue to be prioritised to tke dvntge of opportunities, if nd when they rise, to crete vlue for shreholders over the long term. Overll, the Group remins well-positioned for the future. BANZ is expected to continue building on the strong results chieved in the first hlf nd will continue to invest in the customer offer to drive further growth nd crete better experiences for customers nd the wider community. The review of BUKI is ongoing nd n updte will be provided to the mrket in June The short-term focus for the business is on improving the trding performnce of Homebse. Coles supermrkets business is expected to continue to improve, s it delivers better vlue, qulity, service nd convenience for customers. The strong performnce of Kmrt is expected to continue nd the repositioning of Trget s merchndise offer will be further progressed. Officeworks hs hd strong strt to the second hlf of the finncil yer, supported by the criticl bck-to-school trding period, nd is well-positioned to drive growth in competitive environment with mrket-leding omnichnnel offer. WesCEF expects the continution of strong demnd for Chemicls in the second hlf of the finncil yer, nd ernings will be subject to interntionl commodity prices nd exchnge rtes, s well s sesonl conditions in Fertilisers. Industril nd Sfety is expected to experience generlly stble mrket conditions for the reminder of the finncil yer nd remins focused on relising the benefits ssocited with recent investments in supply chin nd customer service. Resources ernings will be subject to ril cpcity nd therml nd metllurgicl col prices, nd the full-yer ernings contribution of the business will be dependent on the timing of the completion of the sle of Currgh. Work to chieve stisfction of the conditions precedent relting to the sle is ongoing nd n updte will be provided to the mrket when pproprite. For more informtion: More detiled informtion regrding Wesfrmers 2018 hlf-yer results cn be found in Wesfrmers 2018 Hlf-yer Report. Medi Investors Cthy Bolt Aleksndr Spsesk Medi nd Externl Affirs Mnger Generl Mnger, Investor Reltions or or cbolt@wesfrmers.com.u spsesk@wesfrmers.com.u 2 Operting csh flows s percentge of net profit fter tx, before deprecition nd mortistion nd significnt items.

NEW DEVELOPMENTS VALUATION

NEW DEVELOPMENTS VALUATION VINH SON SONG HINH HYDROPOWER JSC (VSH) Nguyen Mnh Tu Emil: Tu.NguyenMnh@tls.vn Ticker: VSH - Exchnge: HSX Anlyst s opinion: BUY Trget Price: VND 12.837 STOCK STATISTICS Price s of 08/23/2010: VND 9,000