21 September 2016

The Manager

Market Announcements Office Australian Securities Exchange

Dear Sir,

2016 SHAREHOLDER REVIEW

Attached is the Wesfarmers Limited 2016 Shareholder Review.

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

Yours faithfully,

L J KENYON

COMPANY SECRETARY

2016 SHAREHOLDER REVIEW

DELIVERING VALUE TODAY AND TOMORROW

2016 SHAREHOLDER REVIEW

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 review

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

30 June 2016. In this summary 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 review 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 this review and printed copies are only posted to shareholders who have elected to receive a printed copy. This review 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

CONTENTS

OVERVIEW

OPERATING AND

FINANCIAL REVIEW

SUSTAINABILITY GOVERNANCE

REMUNERATION

SHAREHOLDER INFORMATION

OPERATING AND FINANCIAL REVIEW

2 CHAIRMAN'S MESSAGE

4 MANAGING DIRECTOR'S REPORT

6 PERFORMANCE OVERVIEW

8 OPERATING AND FINANCIAL REVIEW

18 RETAIL BUSINESSES

SUSTAINABILITY

  1. COLES

  2. HOME IMPROVEMENT

  3. DEPARTMENT STORES

  1. - TARGET

  2. - KMART

  3. OFFICEWORKS

  4. INDUSTRIALS

  1. - CHEMICALS, ENERGY AND FERTILISERS

    GOVERNANCE

  2. - INDUSTRIAL AND SAFETY

  3. - RESOURCES

  4. OTHER ACTIVITIES

  5. SUSTAINABILITY OVERVIEW

36 BOARD OF DIRECTORS

REMUNERATION

40 CORPORATE GOVERNANCE OVERVIEW

44 REMUNERATION OVERVIEW

  1. FIVE-YEAR FINANCIAL HISTORY

  2. CORPORATE DIRECTORY

    SHAREHOLDER INFORMATION

  3. 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 04:33:07 UTC.

Original documenthttp://www.wesfarmers.com.au/docs/default-source/asx-announcements/2016-shareholder-review.pdf?sfvrsn=0

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