Exhibit 1

	Level 18, 275 Kent Street
	Sydney, NSW, 2000

27 May 2024

Fitch Ratings (Fitch) upgrades ratings for Westpac Banking Corporation (Westpac)

Today Fitch upgraded Westpac’s Long-Term Issuer Default Rating (IDR) by one notch to 'AA-'. The outlook is stable. Fitch also upgraded Westpac’s Short-Term IDR by one notch to 'F1+'.

The upgrade to Westpac’s Long-Term IDR reflects the build-up of buffers by the bank through existing capital instruments to meet APRA’s loss-absorbing capacity requirements.

There has been no change to Westpac’s Viability Rating of ‘a+’ or the Government Support Rating of ‘a’. There is also no change to the ratings assigned by Fitch to Westpac’s rated Tier 2 capital instruments.

For further information:

This document has been authorised for release by Tim Hartin, Company Secretary.