19 September 2017

The Manager

Market Announcements Office Australian Securities Exchange

Dear Manager,

2017 SHAREHOLDER REVIEW

Attached is the Wesfarmers Limited 2017 Shareholder Review.

A copy of the review will be sent by mid-October 2017 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,

LJ KENYON

COMPANY SECRETARY

2017 Shareholder Review

Delivering value today and tomorrow

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

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 223,000 employees (including more than 4,200 Indigenous team members)

and has a shareholder base of approximately 515,000.

About this report

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

30 June 2017. 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 2017 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 review 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.

Contents Overview Sustainability

2 The year in review

4 Chairman's message

6 Managing Director's report

8 Performance overview

29 Sustainability

Governance Operating and financial review

10 Operating and f inancial review

20 Retail businesses

  1. Coles

  2. Home Improvement

  3. Department Stores

  1. - Kmart

  2. - Target 24 Off iceworks 25 Industrials

  1. - Chemicals, Energy and Fertilisers

  2. - Industrial and Safety

  3. - Resources

  4. Other activities

38 Board of directors

42 Corporate Governance Overview

Remuneration

46 Remuneration report

Shareholder information

55 F ive-year f inancial history 56 Corporate directory 57 Wesfarmers brands

Wesfarmers Ltd. published this content on 20 September 2017 and is solely responsible for the information contained herein.
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