21 September 2016

The Manager

Market Announcements Office Australian Securities Exchange

Dear Sir,

2016 ANNUAL REPORT

Attached is the Wesfarmers Limited 2016 Annual Report.

A copy of the report will be sent by mid-October 2016 to those shareholders who have elected to receive a copy. The report is also available on the company's website www.wesfarmers.com.au.

Yours faithfully,

L J KENYON

COMPANY SECRETARY

DELIVERING VALUE TODAY AND TOMORROW

About Wesfarmers

From its origins in 1914 as a Western Australian farmers' cooperative, Wesfarmers has grown into one of Australia's largest listed companies.

With headquarters in Western Australia, its diverse business operations cover: supermarkets, liquor, hotels and convenience stores; home improvement; department stores; office supplies; and an Industrials division with businesses in chemicals, energy and fertilisers, industrial and safety products and coal. Wesfarmers is Australia's largest private sector employer with around 220,000 employees and has a shareholder base of approximately 530,000.

About this report

This annual report is a summary of Wesfarmers' and its subsidiary companies' operations, activities and financial position as at

30 June 2016. In this report references to 'Wesfarmers', 'the company', 'the Group', 'we', 'us' and 'our' refer to Wesfarmers Limited (ABN 28 008 984 049)

unless otherwise stated.

References in this report to a 'year' are to the financial year ended 30 June 2016 unless otherwise stated. All

dollar figures are expressed in Australian dollars (AUD) unless otherwise stated.

All references to 'Indigenous' people are intended to include Aboriginal and/or Torres Strait Islander people.

Wesfarmers is committed to reducing the environmental footprint associated with the production of the annual report and printed copies are only posted to shareholders who have elected to receive a printed copy. This report is printed on environmentally responsible paper manufactured under

ISO 14001 environmental standards.

The primary objective of Wesfarmers is to provide a satisfactory return to its shareholders.

OVERVIEW

OPERATING AND

FINANCIAL REVIEW

SUSTAINABILITY

GOVERNANCE

DIRECTORS'

REPORT

FINANCIAL

STATEMENTS

SIGNED

REPORTS

SHAREHOLDER AND

ASX INFORMATION

CONTENTS

OVERVIEW

2

CHAIRMAN'S MESSAGE

4

MANAGING DIRECTOR'S REPORT

6

PERFORMANCE OVERVIEW

8

EXECUTIVE LEADERSHIP TEAM

OPERATING AND FINANCIAL REVIEW

10

OPERATING AND FINANCIAL REVIEW

20

RETAIL BUSINESSES

20

COLES

26

HOME IMPROVEMENT

32

DEPARTMENT STORES

34

- TARGET

35

- KMART

38

OFFICEWORKS

42

INDUSTRIALS

44

- CHEMICALS, ENERGY AND FERTILISERS

46

- INDUSTRIAL AND SAFETY

48

- RESOURCES

50

OTHER ACTIVITIES

SUSTAINABILITY

51

SUSTAINABILITY

GOVERNANCE

60

BOARD OF DIRECTORS

62

CORPORATE GOVERNANCE OVERVIEW

DIRECTORS' REPORT

66

DIRECTORS' REPORT

71

- REMUNERATION REPORT

FINANCIAL STATEMENTS

85

FINANCIAL STATEMENTS

91

NOTES TO THE FINANCIAL STATEMENTS

SIGNED REPORTS

132

DIRECTORS' DECLARATION

133

INDEPENDENT AUDITOR'S REPORT

SHAREHOLDER AND ASX INFORMATION

134

ANNUAL STATEMENT OF COAL RESOURCES AND RESERVES

137

SHAREHOLDER INFORMATION

138

FIVE-YEAR FINANCIAL HISTORY

139

INVESTOR INFORMATION

140

CORPORATE DIRECTORY

141

WESFARMERS BRANDS

Wesfarmers Ltd. published this content on 22 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 September 2016 03:43:03 UTC.

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