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Westpac Banking Corporation ABN 33 007 457 141
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack2 WESTPAC 2026 FULL YEAR RESULTS INDEX 2026 Interim Results Presentation 3 Investor Discussion Pack 42 Earnings drivers 44 UNITE 56 Supporting customers 59 Segment performance 69 Credit quality and provisions 95 Capital, funding and liquidity 120 Environment, Social & Governance 130 Economics 135 Appendix 143 Contact us 153 Disclaimer 154 The material contained in this presentation is intended to be general background information on Westpac Banking Corporation (Westpac) and its activities. It is not intended to be relied up as financial advice. Refer to page 154 for the disclaimer. The performance measures exclude the impact of Notable Items which are non-AAS measures. For further information refer to Westpac’s 2026 Full Year Financial Results. Charts may not add due to rounding
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Anthony Miller Chief Executive Officer This section compares the FY26 and FY25 periods for profit and loss items and FY26 movements for balance sheet items, unless otherwise stated.
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack4 Balance sheet strength Operating momentum Investing for returns
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Shifting drivers of economic growth Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack5 Business investment, the key source of economic activity1 Consumer spend resilient, confidence weak Business sector cashflows solid, confidence low Housing slowdown expected to be in line with previous cycles 1 Annual % change. Source: ABS National Accounts. 2 Pre-conflict: 12 weeks to 28-Feb-26 compared to 12 weeks to 28-Feb-25. Post-conflict: 12 weeks from 28-Feb-26 compared to 12 weeks from 28-Feb- 25. Latest: 12 weeks to 17-Oct-26 compared to 12 weeks to 18-Oct-25. 3 Excludes debt servicing payments and tax. Quarterly annual change. Westpac cards tracker index (%)2 3.4 3.0 1.91.9 (0.4) 5.9 Jun-24 Jun-25 Jun-26 Government demand Business investment Business cashflows (%)3 4 (2) 1 (4) 1 2 Agriculture Construction Hospitality Manufacturing Transport Wholesale Trade Industry average down 2 ppts 7.1 26.0 4.1 10.9 25.0 3.7 House price decline (%) Decline in turnover (%) Decline in credit growth (ppts) Average of cycles since GFC Current forecast 6.6 6.8 (2.1) 6.0 6.0 21.1 5.3 4.2 23.9 Discretionary Non-discretionary (ex-fuel) Fuel Pre-conflict Post-conflict Latest
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11.1% 51.9% 5% 12.5% $10.9bn 6% 154cps$7.0bn Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack FY26 financial performance 1 Refer to page 47 for statutory net profit. Net profit ex Notable Items and cost to income ex Notable Items are used for internal management reporting as they better reflect underlying performance and are not defined by nor audited or reviewed in accordance with Australian Accounting Standards (AAS). These non-AAS measures are identified and described in the ‘Introduction – Non-AAS financial measures’ section in the 2026 Annual Report. 6 Net profit ex Notable Items1 Pre-provision profit ex Notable Items1 Deposit growth over year Ordinary dividends Flat to FY25 4% to FY25 to $766bn 1% to FY25 ROTE ex Notable Items1 14bps to FY25 Cost to income ratio ex Notable Items1 Loan growth over year To $901bn CET1 Capital ratio 116bps to FY25 7bp to FY25 19.3% Internationally comparable basis
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack FY26 business momentum 1 Average growth of loans and deposits. 2 In NZD. Balance sheet momentum1 Revenue Pre-provision profit Consumer 7% 2% 5% Business & Wealth 7% 7% 11% Institutional 16% 6% 8% New Zealand2 5% Flat 5% 7
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Franchise scale, network and reach 8 1 Main Financial Institution (MFI) refer to appendix for definitions. 2 Includes Westpac branches, staff kiosks, cashless locations and advisory centres. 3 Includes relationship managers and assistant relationship managers who have customer portfolio coverage. 4 APRA ADI Statistics, Sep-26. 5 Bloomberg AUD bond league table (ex-self led) as at 30/09/2026 + KangaNews AU Securitisation league table (AUD + foreign currency, ex self-led) as at 03/10/2026. 6 RBNZ Statistics, Sep-26. Institutional #1 AUD bonds & ABS5 New ZealandBusiness & Wealth ~1,700 Bankers3 Consumer 619 Branches2 33% Contribution to pre-provision profit 21% Contribution to pre-provision profit 12% Contribution to pre-provision profit 34% Contribution to pre-provision profit 33% Public Sector deposits share 4 17% Lending share6 17% Deposit share6 19.2% Business MFI1 share 15.5% Consumer MFI1 share
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Supporting customers and communities 1 New owner-occupied and investor property home loans, excluding refinance and top ups. 2 Refer to page 133. 3 Awarded by Westpac Scholars Trust since 2015 which is supported by Westpac but operates independently as a non- profit organisation. 4 Westpac Foundation will award approximately $4 million annually in education grants. Westpac Foundation is supported by Westpac but operates independently as a non-profit organisation. 5 Figure includes foregone fee revenue and excludes commercial sponsorships. 9 customers helped to purchase a new home1 190k+ 2030 housing target2 $100bn financial hardship assistance and disaster relief packages ~42,000 scholarships and future leaders since 20163 1,000 additional regional locations served through Community Banking 14 to education-led grants program4 ~$4m reduction in customer scam losses compared to FY25 23% in community investment5 $183m SUPPORTING GRASSROOTS SPORT
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10 Driving value creation Performance Transformation Customer Risk People Strong balance sheet and growth Customer service and advocacy Deposits and proprietary lending Whole of bank to the customer Transform and simplify Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack
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Balance sheet strength is supporting growth Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack11 Capital strengthened Lending momentum (%)2 Deposit funding increased Strong deposit growth (%)2 1 Australian housing excluding RAMS. 2 Australian business balances. 3 Australian Institutional balances. 12.5 Sep-26 85.5 Sep-26 7 12 18 Housing Business Insitutional 7 4 14 Household Business Insitutional 3 10 years 15 10 years CET1 capital ratio (%) Deposit to loan ratio (%) 1 Change in ppts Change in ppts 2 3 1 2 3
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Investing in our people 12 1 Cumulative UNITE process simplification. 2 Based on Microsoft Australia data for organisations with more than 40,000 seats, Jun-26. 3 Includes Australian Home Finance Managers, Business Relationship Managers and Assistant Relationship Managers who have customer portfolio coverage, and Institutional Bankers. Future skills More frontline bankers Engaged workforce 81 employee engagement score 195 processes simplified1 #1 Copilot adoption in Australia2 95% of employees use AI tools monthly 4% increase in bankers3 TARGETED banker learning Supporting our people to grow, develop and deliver for customers Building AI capability across the Group Supporting service, deeper relationships and growth
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Utilising data for better customer experiences 1 Westpac’s cloud-based data and advanced analytics platform. 2 Based on initial use cases. 13 ADAPT Westpac Intelligence Smarter experiences for every interaction faster activation of customer insights2 6x governed data foundation 1 faster model build and deployment1 5x Connects data and AITrusted customer and business data Mobile banking app Digital contact centre Digital banker
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Improving customer service and advocacy 14 1 When compared to assisted customers. 2 For definitions see page 150. 3 Coalition Greenwich Voice of Client 2026 Australia Large Corporate Relationship Banking Study. Halved Digital customers are more engaged1 More active with Westpac 4x More likely to be an MFI customer 35% More products on average 1.3 Lower cost to serve 65% Stronger advocacy Institutional RSI, highest score in 10 years3 Business Rank #32 Time to open a Choice account Digital banker Complete view of customer needs 100,000+ Book a Banker appointments since launch in Feb-26 Consumer NPS Rank #22 +4 points +4 points +12 points Simpler banking
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Deeper customer relationships through quality deposits Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack15 Peer leading growth in quality deposits1 1 From Sep-22 to Sep-26 for Westpac and Sep-22 to Jun-26 for peers. High quality is Retail & SME and Operational deposits as disclosed in the Pillar 3. 2 Consumer product groups. 3 Operational deposits per NSFR calculation as defined by APRA Prudential Standard (APS 210). 4 Financial Institution. 5 ADI System published by APRA in the Monthly ADI Statistics. 30% 18% 20% 8% WBC Peer 1 Peer 2 Peer 3 Consumer Business & Wealth Institutional 81% Digital first Digital sales2, up from 50% 87% Rewarding customers Behavioural savings bonus rate 18% Targeted deposit growth New 18-40 year old transaction accounts via Spend & Save Transaction balances to total deposit balances Whole of bank 44% New Business transaction accounts, 34% new to bank Win in transactions 18% Digital sales, up from 30% Improve digital 54% Institutional operational deposits3 FI4 growth strategy 20% Public sector deposits5 Public sector leadership #1 Corporate experience via Westpac One Corporate opportunity Improved
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Improving proprietary home lending Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack16 Products per home loan customer 1 Excludes RAMS. 2 ADI System published by APRA in the Monthly ADI Statistics. Improvement in proprietary home loans (%) Disciplined home lending growth1 Proprietary focus areas: $497bn $518bn $532bn 0.8x 1.2x 1.0x 2H25 1H26 2H26 Balance System multiple UP 7% 32.6 34.0 37.2 34.8 38.2 42.4 2H25 1H26 2H26 Group Westpac brand3.3 2.8 Proprietary Third-party 2 • Increase brand consideration • Differentiate value proposition • Optimise lead quality using Westpac Intelligence • Increase lender effectiveness • Streamline application requirements • Reduce products
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Fast, simple, digital business lending origination Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Momentum in Business & Wealth 1 Since launch in Mar-25. 2 Represents managed professional services. 17 21 16 13 Agriculture Health Professional services2 Deepening relationships 74% of new Business lending with existing customers 2ppts increase in new proprietary lending to 55% 18% increase in Global Investment Services FUA 7% FX client growth 8% lending revenue growth Growth in target sectors (%) BizEdge $20.3bn 45% faster average time to decision Guided credit pathways Up to $20m deal exposure AI Assisted features expanded Easier document management applications1 Progress Expected to complete in FY29 Total investment c.$300m
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Momentum in Institutional 1 Comprised of gross fees including revenue recognised in IBCS (non-Markets). 18 Leading banking capability for large businesses Deepening relationships 81% of new Institutional lending with existing customers 82% investment grade 27% increase in Debt Capital Markets income1 10% FX client growth 13% lending revenue growth Supporting economic activity (loan growth, %) Westpac One 11% 32% 34% 19% 2% 10% 9% 20% Energy Infrastructure Resources Real Estate Health Consumer Industrials Financial Institutions Progress Expected to complete in FY28 Total investment c.$300m Corporate treasury in development Customer pilot underway Payments integration complete
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Continuing to strengthen risk foundations to support growth and confidence Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack19 Cyber Strengthening resilience and customer protection Maintaining disciplined underwriting and portfolio quality Credit Risk Operational Risk Simplifying processes and strengthening controls Responsible AI Safe and responsible deployment of AI Embedding AI governance and oversight Ongoing investment in cyber resilience and infrastructure Increase in automated controls Credit quality resilient 19
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• Completed invoice finance customer migration • Completed customer migration to Panorama • Commenced Commercial Bank customer migration Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack UNITE This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. 1 Consumer and Business & Wealth products. 2 Excludes two initiatives with scope confirmed. Status rating changes with the identification and resolution of issues. Percentage complete by project stage 20 DISCOVERY FY26 SIMPLIFY 59% of milestones FY26 31% of milestones IMPLEMENT FY26 DECOMMISSION 19% of apps Program scope Objectives FY26 achievements STATUS2 28 16 1 9 47 Initiatives REMAINING Reduce products Products reduced by >70%1 Simplify processes >700 processes simplified Consolidate technology >180 applications decommissioned
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack St.George Data warehouse migration 21 1 Cloud-based data and advanced analytics platform. Better customer experience • Enables personalised offers using Westpac Intelligence • Single view of customer on Westpac Intelligence Improved employee experience • Easier to support warehouse systems • Simplified access to data to support analytics Increased shareholder return • Initiative cost ~35m, down from ~$70m • Direct benefits ~$15m p.a. • Decommission planned for FY27 • Reusable AI data migration capability Expected outcomes Migrating data to ADAPT1 Logic migrated to Westpac Intelligence AI accelerated migration by >2 years
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Catalyst: Accelerating change execution This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. 22 Delivery Units Objectives • 21 new end-to-end delivery units • Clear accountability for multi- year outcomes • Supported by Practices which provide expertise • Improve customer service • Increase effectiveness of change • Simplify execution and governance • Further strengthen risk management • Reduce reliance on third party providers • Support lower cost to income ratio Yearly funding Persistent funding Slow execution Faster speed to market Siloed teams Teams closer to customers
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Nathan Goonan Chief Financial Officer This section compares the 2H26 and 1H26 periods for profit and loss items and 2H26 movements for balance sheet items, unless otherwise stated.
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack FY26 financial performance FY25 FY26 Change Net profit $6,916m $6,813 (1%) Notable Items ($56m) ($179m) Large Excluding Notable Items: Net profit $6,972m $6,992m 0% Earnings Per Share 204c 205c 1c Revenue $22.5bn $22.7bn 1% Expenses ($11.9bn) ($11.8bn) (1%) Expenses excluding FY25 restructuring charge ($11.6bn) ($11.8bn) 1% Pre-provision profit $10.5bn $10.9bn 4% Impairment charges to average loans 5bps 10bps 5bps 24
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Net profit excluding Notable Items ($m) 1 Non-controlling interests. 3,515 3,483 161 22 3,509 (21) (121) (15) 2H25 1H26 Net interest income Non-interest income Expenses Impairment charges Tax & NCI 2H26 25 Pre-provision profit flat Up 1%Down 1% 1
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723.0 745.2 3.3 5.6 10.1 3.4 766.2 (1.4) Sep-25 Mar-26 Transaction Savings Term deposits Mortgage offsets New Zealand (in A$) Sep-26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Deposit growth ($bn) 26 Up 3% Up 3% Consumer: Flat B&W: (2) Institutional: 7 Treasury: (2) Consumer: 4 B&W: 4 Institutional: 2 Consumer: 3 B&W: (1) Institutional: 4 Up 0.7 in NZD
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Loan growth ($bn) This page excludes RAMS. 834.7 871.7 14.2 8.9 7.1 901.3 (0.5) (0.2) Sep-25 Mar-26 Mortgages Business Institutional New Zealand (in A$) Personal Sep-26 27 Up 2.5 in NZD Up 4% Up 3%
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11,471 11,284 341 35 11,424 (111) (60) (65) 2H25 1H26 Balance sheet growth Core NIM movement Fee and Wealth Non-II NZD movement Treasury and Markets 2H26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Operating income ($m) 28 Up 1%Down 2% Treasury ($47m) Markets ex DVA ($44m) DVA $26m Fees $20m Net Wealth Income $15m Income up 2.3%, excluding NZD movement and T&M
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Net interest margin (%) This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. 1 The delay between the change in the RBA cash rate and when customers receive or pay their new interest rate. 2 Based on market implied 3 and 5 year swap rates trajectory as of 30 September 2026. 3 The non-rate sensitive portion. 4 Based on Sep-26 rates and balances. 1.82 1.78 1.75 0.13 0.11 0.11 1.95 1.89 1bps - 1bps - - 1.86 (4bps) (1bps) 2H25 1H26 Timing Difference Loans Deposits Liquid assets Capital & Other Wholesale funding Treasury & Markets 2H26 29 Core NIM ex timing impact down 4bps Core NIM Treasury & Markets • Net replicating portfolio benefit ~2bps2 • Benefit from 2H26 rate rises ~1bp • Loan margin benefitting from RAMS sale and Cards Key considerations 1H27 Higher rates 1bp Replicating portfolio 1bp Term deposits 1bp Bonus rate uptake (2bps) Mix (2bps) 1 AU & NZ mortgages (2bps) Business & Institutional (1bp) Replicating portfolio 1bp Sensitivities • 25bps RBA rate rise: timing headwind ~0.2bps in the half • 25bps RBA rate rise: unhedged deposits3 and capital ~1bp4 annualised • 6bps move in 3mth Bills/OIS: ~1bp4 annualised
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Cost discipline Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack30 Sustained investment 8.1 8.5 9.4 FY24 FY25 FY26 Stepping up productivity ($m) This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. 1 Cash is total investment spend. Expensed includes amortisation and investment spend expensed during the period. Peer average calculated using the last two reported halves for each major bank, excluding large write-offs. 400 581 >600 FY25 FY26 FY27 Investment % of revenue Investment spend ($bn)1 2.1 2.5 Cash Expensed WBC 2.0 1.7 Cash Expensed Peer average • Sustaining investment to grow and simplify the bank • Managing cost growth while investing • Stepping up productivity, targeting >$600m in FY27 • Progressing plan to structurally lower the cost base
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack FY26 expenses ($m) This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. 11,916 11,643 347 95 4 273 11,781 (273) (581) FY25 Restructuring FY25 adjusted Staff costs Technology Volume and other Productivity Investments FY26 31 1% Increase • Cost growth expected to be similar to FY26 • Wage and technology inflation to remain elevated • Investment in bankers • AI build-out and cyber capability uplift continues • Amortisation tailwind • Productivity benefits >$600m Key considerations FY27 Demand and workforce optimisation Operating model efficiencies Vendor and discretionary savings Increased cash spend UNITE 74% expensed Lower capitalisation rate Salary increases Investment in bankers GST benefit Unit cost savings and capacity to absorb volume growth
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• Investment spend ~$2.1bn • Expensed ~70% • UNITE spend $850m - $950m Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Investment spend ($m) Investment spend This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. 32 695 744 563 454 660 937 1,918 2,135 FY25 FY26 FY25 FY26 Investment spend expensed 60% 68% Capitalised software balance ($m) 2,414 2,135 Amortisation expense ($m) 995 1,006 Risk & regulatory Growth & productivity UNITE 11% Key considerations FY27
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Credit quality 1 The categories within non-performing exposures have been revised to improve alignment between credit quality and provisioning disclosures. A new category has been created for individually assessed exposures. This includes exposures with an individually assessed provision. The impaired exposures category, which will no longer be reported, has been allocated across individually assessed exposures, non-performing 90+ days past due and non-performing less than 90 days past due. 2 Excludes RAMS. A reclassification of some hardship arrangements has impacted the reporting of 90+ day delinquencies and hardship balances. 90+ day delinquencies and hardship balances from September 2024 have been revised in the chart. Stressed exposures as a % of TCE1 Australian mortgage delinquencies (%) 2 Corporate and business stressed exposures by industry sector (%) 0.07 0.08 0.09 0.38 0.34 0.34 0.32 0.30 0.28 0.51 0.44 0.46 1.28 1.16 1.17 Sep-25 Mar-26 Sep-26 33 Individually assessed Non-performing, 90+ days Non-performing, <90 days Watchlist & substandard 0.0 2.0 4.0 6.0 Construction Wholesale & retail trade Manufacturing Agriculture, forestry & fishing Accommodation cafes & restaurants Services Transport & storage Property Sep-25 Mar-26 Sep-26 0.67 1.24 0.5 1.5 2.5 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 90+ day delinquencies 30+ day delinquencies
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Impairment provisions $2.0bn above base case This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. 1 Forecast date is 30 September 2026. 2 These key economic indicators represent peak or trough values that characterise the scenarios considered in setting downside severity. Residential and commercial forecasts represent cumulative reduction over a two-year period. 539 610 658 1,190 1,142 1,101 2,087 2,115 1,975 933 1,050 1,117 238 282 347 4,987 5,199 5,198 Sep-25 Mar-26 Sep-26 34 Overlays Stage 1 CAP Stage 2 CAP Stage 3 CAP Stage 3 IAP Sale of the RAMS mortgage portfolio Australian mortgage 90+ day delinquencies Overlays increased $65m IAP increased $48m due to new IAPs in Business & Wealth Impairment charges 9bps of average loans Provisions to gross loans of 0.58%, flat CAP to credit RWA of 1.27%, down 2bps CAP decreased 1%, key movements Australian forecasts for base case ECL1 Base case Downside 2026 2027 Trough / peak2 GDP growth 1.5% 1.7% (6%) Unemployment 4.7% 4.7% 11% Residential property prices (6.0%) 3.0% (27%) Commercial property prices 2.1% 4.3% (32%) Impairment provisions ($m)
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137 113 LCR 4Q26 Avg NSFR Sep-26 83.5 84.9 85.5 Sep-24 Sep-25 Sep-26 Funding and liquidity Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack35 LCR and NSFR (%) Deposit to loan ratio (%) LCR deposit mix (%) 38 32 15 15 Stable retail and SME deposits Less stable retail and SME deposits Operational deposits Non-operational deposits Regulatory minimum 100% $588bn Maintained strong balance sheet settings • LCR and NSFR at or above normal operating ranges • Continued strong growth in quality customer deposits • Raised $40bn in new long-term funding in FY26
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Strong capital This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. 1 Capital deductions and other items including FX translation impacts. 2 Remaining on market share buyback previously announced in Nov-23, May-24 and Nov-24. CET1 capital ratio % 12.42 74bps 23bps 12.46 (57bps) (28bps) (5bps) (3bps) Mar-26 Net profit 1H26 dividend RWA IRRBB Other RAMS Sep-26 36 Lending (31bps) Data refinement 9bps Credit quality (2bps) • Share buyback2 (22bps) • RBNZ changes: Standardised RWA reduced by ~$5bn • Energy intensive sectors asset quality sensitivity: 1 notch downgrade ~$5bn RWA increase 1 Other considerations Sensitivities
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Capital management 1 In normal operating conditions. 2 Annualised, based on final dividend and 30-Sep-26 closing price of $35.07. 37 Ordinary dividends per share (cents) 70 75 76 77 72 76 77 77 142 151 153 154 FY23 FY24 FY25 FY26 Target CET1 capital ratio1 >11.25% Capital above target after 2H26 dividend $2.9bn 2H26 payout ratio 75.0% Target dividend payout ratio range 65–75% Dividend yield 4.4%2 On market share buyback extended DRP neutralise Fully franked 6.3%2
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Anthony Miller Chief Executive Officer
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Measuring progress 1 For definitions see page 150. 2 Coalition Greenwich Voice of Client 2026 Australia Large Corporate Relationship Banking Study. 3 Cumulative spend Oct-23 to Sep-26. 4 First Half 2026, excludes Notable Items. The information on this page contains ‘forward-looking statements’ and statements of expectation reflecting Westpac’s current views on future events. They are subject to change without notice and certain risks, uncertainties and assumptions which are, in many instances, beyond its control. They have been based upon management's expectations and beliefs concerning future developments and their potential effect on Westpac. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied in such statements. Investors should not place undue reliance on forward- looking statements and statements of expectation. Except as required by law, Westpac is not responsible for updating, or obliged to update, any matter arising after the date of this presentation. The information in this page is subject to the information in Westpac’s ASX filings, including in its 2026 Annual Report and elsewhere in this presentation. 39 SERVICE EXCELLENCE ONE BEST WAY PERFORM Metric Sep-26 Sep-29 Target Consumer: NPS1 #2 #1 Business: NPS1 #3 #1 Institutional: RSI2 #3 #1 Complete UNITE on time In progress Complete Complete UNITE on budget $1,744m3 ~40% of total investment over FY25 to 1H29 Employee engagement1 81 (top quartile) Top decile Cost to income ratio relative to peers4 4.5ppts above Less than peer average Return on tangible equity relative to peers4 1.8ppts below Greater than peer average
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50 150 250 350 450 FY00 FY09 FY18 FY27 Mining Energy transition & data centres Macroeconomic considerations Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack40 • Strong business investment supported by energy transition and data centres • Households resilient to higher interest rates and cost of living pressures • Current housing cycle similar to historical averages • Geopolitical uncertainty remains elevated Australian housing cycles Investment cycle Credit growth forecasts2 This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. 1 Source: ABS. 2 12-month percentage change. 2 Source: Westpac Economics. House price decline Turnover decline Slowdown in credit growth2 Jan 08 to Jan 09 6.9% 31% 11.7 to 6.4% Jul 17 to May 19 8.6% 24% 6.7 to 3.0% Jan 22 to Jan 23 7.5% 29% 8.0 to 4.2% Mar 26 to 2027f 10.9% 25% 7.4 to 3.8% FY27 FY28 Housing credit 3.8% 5.3% Owner Occupied 4.2% 5.4% Investor 3.0% 5.0% Business credit 7.0% 6.3% Actual and expected real capital expenditure ($bn) 1
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Priorities 41 41 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack FY27 focus areas to drive value creation UNITE milestones Cost discipline to support investment Service excellence to improve advocacy Proprietary growth and deposits Momentum in Business & Institutional This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. Performance Transformation Customer Risk People
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Investor Discussion Pack This section compares the 2H26 and 1H26 periods for profit and loss items and 2H26 movements for balance sheet items, unless otherwise stated.
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Westpac FY26 highlights 43 1 Net profit ex Notable Items, NIM ex Notable Items, expense to income ratio ex Notable Items and ROTE ex Notable Items are used for internal management reporting as they better reflect underlying performance and are not defined by nor audited or reviewed in accordance with Australian Accounting Standards (AAS). These non-AAS measures are identified and described in the ‘Additional Information – Non-AAS financial measures’ section in the 2026 Annual Report (www.westpac.com.au/investorcentre). 2 Excluding RAMS. September 2025 has been revised to reflect a reclassification of some hardship arrangements that impacted the reporting of Australian 90+ day delinquencies. Highlights Sound credit qualitySolid financial performance1 Strong balance sheet Deposits +$43bn in FY26 Loans +$45bn in FY26 Deposit to loan ratio 85.5% 84.9% Sep-25 CET1 capital ratio APRA basis 12.5% 12.5% Sep-25 LCR Quarterly average 137% 137% Sep-25 Impairment charges to average loans 10bps 5bps FY25 Provisions to gross loans 58bps 58bps Sep-25 Collectively assessed provisions to credit RWA 1.27% 1.25% Sep-25 Stressed assets to TCE 1.17% 1.28% Sep-25 Mortgage 90+ day delinquencies 2 Australia 0.67% 0.67% Sep-25 Net profit after tax (ex Notable Items) $7.0bn $7.0bn FY25 Net interest margin 1.87% 1.94% FY25 Expense to income ratio (ex Notable Items) 51.9% 53.0% FY25 Return on average ordinary tangible equity (ex Notable Items) 11.1% 11.0% FY25 Net profit after tax Statutory basis $6.8bn $6.9bn FY25
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Earnings drivers
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack 2H26 net profit excluding Notable Items Net profit 1H26 – 2H26 ($m) 3,483 161 22 3,509 (21) (121) (15) 1H26 Net interest income Non interest income Expenses Impairment charges Tax & NCI 2H26 45 Earnings Up 1% Salary and technology inflationary pressures Increase in UNITE investment Benefit from productivity initiatives Lower software amortisation AIEA up 3% due to loan growth Core NIM down 3bps Treasury & Markets NIM flat Earnings
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30 6,972 214 135 81 6,992 (440) FY25 Net interest income Non interest income Expenses Impairment charges Tax & NCI FY26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack FY26 net profit excluding Notable Items Net profit FY25 – FY26 ($m) 46 Earnings Flat Revised economic outlook Increase in mortgages portfolio movements New IAPs in Business Lending and new portfolio overlays Increase in UNITE investment spend Salary and technology inflationary pressures Benefit from productivity initiatives Non-repeat of FY25 restructuring charge AIEA up 5% due to loan growth Core NIM down 5bps Treasury & Markets NIM down 2bps Earnings
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Net profit excluding Notable Items and net profit reconciliation Adjustments to Statutory Net Profit ($m)Net profit excluding notable items policy • Net profit excluding Notable Items is a non-AAS financial performance measure used by Westpac for internal management reporting, as it provides a clearer view of the Group’s underlying operational performance • This measure is not defined under Australian Accounting Standards, nor is it audited or reviewed in accordance with Australian Auditing Standards and therefore does not represent a statutory financial metric 47 Earnings FY25 FY26 1H26 2H26 Statutory net profit 6,916 6,813 3,414 3,399 Large items - (104) (75) (29) Hedging items (56) (75) 6 (81) Net profit excluding Notable Items 6,972 6,992 3,483 3,509 Earnings per ordinary share – statutory 201.9 199.3 99.9 99.4 Earnings per ordinary share – ex Notables 203.6 204.5 101.9 102.6 Notable Items ($m after tax) FY25 FY26 1H26 2H26 Large items - (104) (75) (29) Hedging items (56) (75) 6 (81) Total Notable Items (56) (179) (69) (110)
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Loans ($bn) Loans by type (%) Loans by segment (%) Customer deposits ($bn) Customer deposits by type (%) Customer deposits by segment (%) Balance sheet 48 Earnings 856 890 901 Sep-25 Mar-26 Sep-26 60 15 15 10 Consumer Business & Wealth Institutional New Zealand 51 21 20 9 Consumer Business & Wealth Institutional & Treasury New Zealand 28 33 18 11 11 Term Savings Transaction Mortgage offset NIB deposits 66 18 15 1 Housing Business Institutional Consumer Finance 723 745 766 Sep-25 Mar-26 Sep-26 $901bn $901bn $766bn $766bn
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Australian deposit balances by interest rate bands1,2 Divisional deposit balances by interest rate bands ($bn) 1 Spot balances at period end. 2 A$ balances and excludes mortgage offset balances. Australian deposit balances by interest rate bands ($bn) 49 Revenue 101 57 158 252 105 53 115 313 105 40 67 395 <=25bps 26<=200bps 201<=400bps 401bps+ Sep-25 Mar-26 Sep-26 57 22 20 210 42 18 39 56 5 1 8 129 <=25bps 26<=200bps 201<=400bps 401bps+ Consumer Business & Wealth Institutional & GBU
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86% Locked-in 58% Locked-in$1.0bn $1.9bn $3.2bn $4.6bn $5.6bn $6.0bn $6.5bn 0.8% 1.6% 2.7% 3.6% 3.8% - 7. 0 % - 5. 0% - 3. 0% - 1. 0 % 1 .0 % 3 .0% 5 .0% $0.0bn $1.0bn $2.0bn $3.0bn $4.0bn $5.0bn $6.0bn $7.0bn $8.0bn FY2022 FY2023 FY2024 FY2025 FY2026 FY2027F FY2028F Existing Hedges Rolled Hedges Average Hedge Yield 0 2 4 6 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25 Sep- 3m BKBM Deposit Hedge Rate Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Structural Hedging of Deposits and Capital Structural hedges Domestic deposits and capital hedge (%) Structural hedge impact on annual income1 WNZL deposit hedge (%) 1 Excludes WNZL deposit hedge. 2 Average blended yield and average total balance of capital and deposit for the respective financial year. 3 The monthly moving average hedge rate on capital and non-rate sensitive deposits. Spot rate represents the average rate for September 2026. 0 1 2 3 4 5 6 Sep-16 Sep-18 Sep-20 Sep-22 Sep-24 Sep-26 3M BBSW Capital hedge rate 50 Revenue 1H26 Avg rate3 2H26 Avg rate3 Sep 26 Spot rate3 WNZL deposit hedge 4.18 3.92 3.83 1H26 Avg rate3 2H26 Avg rate3 Sep 26 Spot rate3 Group Capital hedge 3.79 3.91 3.96 Domestic deposit hedge 3.72 3.87 3.92 2 1H26 Avg Balance 2H26 Avg Balance Sep 26 Spot balance Investment term Group Capital hedge $56bn $55bn $56bn 3 years Domestic deposit hedge $88bn $93bn $92bn 5 years WNZL deposit hedge (NZD) $12bn $13bn $13bn 3 years % % Indicative outcomes based on current balance and 30 September 2026 market pricing
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Treasury and Markets income Treasury and Markets income by segment1 ($m) Treasury and Markets income by type ($m) Treasury income ($m) Markets income1 ($m) 1 Includes net interest income and non-interest income. 673 578 565 566 420 376 324 367 1,093 954 889 933 2H25 1H26 2H26 5 year average Net interest income Non-interest income 51 Revenue 553 458 411 467 540 496 478 466 1,093 954 889 933 2H25 1H26 2H26 5 year average Treasury Markets 345 349 331 176 166 140 19 (19) 7 540 496 478 2H25 1H26 2H26 FX, Commodities and Carbon Fixed income DVA 544 455 405 9 3 6 553 458 411 2H25 1H26 2H26 Net interest income Non-interest income
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Non-interest income Non-interest income by type ($m) Net fee income by segment ($m) Non-interest income by segment ($m) 887 242 438 864 248 409 888 262 350 Fees Wealth management Trading and other income 2H25 1H26 2H26 52 Revenue 299 383 741 137 19 286 399 690 131 33 299 383 681 137 24 Consumer Business & Wealth Institutional New Zealand (NZD) Other 2H25 1H26 2H26 7887 864 51 3 888(33) (4) 2H25 1H26 Consumer Business & Wealth Institutional New Zealand Other 2H26
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44 6,218 5,830 236 28 136 5,951 (323) 2H25 1H26 Staff costs Technology Volume and other Productivity Investments 2H26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack 2H26 expenses ($m) 53 Expenses 6% DECREASE (2% decrease ex restructuring) 2% INCREASE Salary increases Investment in bankers Workforce optimisation Vendor and discretionary savings Higher UNITE spend Reduced non-UNITE amortisation Vendor inflation Volume growth AI and cyber capabilities
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Investments Investment spend by category ($m) Capitalised software balance ($bn)1 Investment spend treatment ($m) Investments through P&L ($m) 1 Based on most recent disclosures. 342 287 457 319 231 223 409 401 536 1,070 919 1,216 2H25 1H26 2H26 Risk & regulatory Growth & productivity UNITE 432 289 402 638 630 814 1,070 919 1,216 2H25 1H26 2H26 Capitalised Expensed 54 Expenses 510 527 479 638 630 814 1,148 1,157 1,293 2H25 1H26 2H26 Amortisation Expensed 2.1 Sep-23 Sep-24 Sep-25 Mar-26 Sep-26 WBC Peer 1 Peer 2 Peer 3
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Impairment charges composition 55 Impairment charges ($m) 157 299 264 (106) (126) (115) 254 388 378 (131) (118) (106) 174 443 421 2H25 1H26 2H26 2H25 1H26 2H26 2H25 1H26 2H26 2H25 1H26 2H26 2H25 1H26 2H26 Impairment charges and stressed exposures (bps) 10 117 -50 50 150 250 350 -20 0 20 40 60 80 100 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Impairment charge to average loans annualised (lhs) Stressed exposures to TCE (rhs) Impairment charges NEW IAPS IAP WRITE-BACKS NET CAP CHARGES RECOVERIES Largely within property services & business services, trade and construction TOTAL Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack
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UNITE
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Westpac invoice finance 57 1 For Xero and MYOB customers. UNITE Better customer experience • Modern customer experience with 24/7 self-serve portal • Drawdowns in under ~15 minutes • Simpler digital applications reducing submission times up to ~50% 1 Improved employee experience Increased shareholder return Expected outcomes Migrated 330 Invoice Finance facilities to new platform Dedicated onboarding and support Completed 2H26 • Simpler risk monitoring, controls and reviews • Intuitive dashboard and clear presentation of key customer data • Initiative cost ~$10m • Direct benefits ~$3m p.a. • Integrated with Xero and MYOB
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack UNITE: Current focus areas 58 This page contains ‘forward looking statements’. Please refer to the disclaimer on page 154. 1 Includes three initiatives. 2 Includes two initiatives: $15m increase in costs reflects $10m related to transfer of scope and funding as a result of an initiative closure. 3 Estimated total initiative cost. 4 Expected full year annual benefit after the initiative is complete. UNITE Objective Expected outcomes FY26 achievements Cost3 Direct benefits4 Mortgage simplification1 Completes in FY29 • Establish products, fees and features on the target state mortgage ledger • Implement a single consumer mortgage collateral register • Westpac mortgage collateral data migrated to strategic collateral management platform enhancing servicing and risk management • Improved data integrity and strengthened readiness for future migrations • Customers have access to market leading products and features • Simpler, standardised processes for employees c.$290m (Mar-26: $285m) ~$70m (Mar-26: $70m) Digital banker2 Completes in FY29 • Decommission CRM platform and extend capability to all bankers • Deployed to ~20k employees • Improved banker productivity and customer service through streamlined workflows and reduced system switching • Enhanced lead management capability • One portal to view, service and originate all customer needs • Consistent experience across all channels c.$165m (Mar-26: $150m) Banker Productivity One collections platform – AssistNow Completes in FY29 • Migrate Consumer Finance and Business products onto the AssistNow Platform and decommission legacy collections platform from 7 to 1 • Migration of regional brand Credit Cards, and Westpac Personal Loans to AssistNow • Tallyman legacy platform decommissioning • Simplified and standardised collections, hardship, and recoveries processes • Streamlined, and governed end-to-end experience c.$130m (Mar-26: $130m) ~$40m (Mar-26: $40m) One Commercial Bank Completes in FY29 • Migrate ~75,000 commercial customer accounts to Westpac • Commenced commercial customer migrations, with positive early feedback from customers and bankers • Leading banking services and digital capability to all commercial customers • Simpler processes c.$230m (Mar-26: $230m) ~$40m (Mar-26: $40m) Debit card simplification Completes in FY29 • Reduce the product set for debit cards from 34 to 2 • ~500k Westpac Handycards closed or migrated to Debit Mastercard • Customers benefit from clarity provided by a simplified product offer • Reduces operational complexity and risk c.$45m (Mar-26: $40m) ~$15m (Mar-26: $15m)
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Supporting customers
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Customer highlights 60 1 ATM numbers include fee free Westpac Group ATMs, Precinct, ATMx, and other majors’ ATMs. 2 Includes Westpac Branches, Staff Kiosks, Cashless locations and Advisory centres. 3 Consumer and business customers who have had an authenticated session (including Quickzone) on Westpac Group digital banking platforms in the prior month. 4 Main Financial Institution (MFI) refer to appendix for definitions. Supporting our customers Protecting customers Our suite of digital innovations helped prevent $360m in potential customer scam losses in FY26 Spent ~$330m in FY26 to support access to cash supply initiatives in Australian communities Servicing cash Largest ATM network Westpac customers have access to Australia’s largest fee- free network at more than ~6,350 ATMs 1 Community presence 619 branches2 across Australia including 135 co-located branches and 3,300 Bank@Post locations Customers 13m Digitally active customers3 6m Consumer banking MFI4 #2 Business banking MFI4 #2 Key highlights
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Westpac Intelligence: whole of the bank to the customer 61 1 Compared to the control group. 2 Over the six months to Sep-26 compared to the twelve months to Sep-25. Supporting our customers Customer Personalised deposit offers to Consumer customers – faster and at greater scale 500k Customers reached in 2 weeks >2x Account uptake1 Smart digital leads identifies Business banking opportunities 20k Customer conversations 4.5x Increase in settlements2 Personalised intelligence surfaces insights for Business and Institutional bankers 60 Bankers in the pilot 100% Support pilot expansion
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack AI in action for our people and customers 62 1 Estimated annual benefit. 2 Compared to the average weekly search performance in the 12 weeks before launch on 21-Aug-26. 3 Delivery of St.George data warehouse migration initiative is expected to be complete two years ahead of plan. 4 Velocity delivered per person per sprint in release 6 compared to release 1. 5 Refers to requests from frontline staff to specialist teams for help with customer queries, compared with the 12 months before Instant Answers launched. Transformation Supporting our customers ~100k hrs Banker capacity1 Home loans Application payslip and bank statement automation 75% increase in selection of the first search result2 Website AI-powered customer search engine 68% increase in delivery productivity4 BizEdge AI-assisted software development ~50k hrs Banker capacity1 Consumer finance Real-time application payslip automation 2 years acceleration of St.George data warehouse migration3 UNITE AI-enabled data migration acceleration 43% reduction in escalations5 Instant answers AI-powered frontline guidance
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Deepening digital engagement across customers 63 1 Consumer and business average daily logins across all devices. 2 Unique consumer & business customer 12-month rolling average. 3 When compared to assisted customers. 4 Refer to page 150. Supporting our customers 6.8M Customer daily logins1 1.2M CUSTOMERS Using money management tools2 $147M In value rewarded to customers Digital customers are more engaged3 More active with Westpac 4x More likely to be an MFI customer 35% More products on average 1.3 Lower cost to serve 65% 1.1bn 81% Digital payments and sales Mobile wallet payments of total sales originated digitally4
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Becoming digital first Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack64 Digital sales1 (%) 1 Refer to definitions on page 150. Integrated Service Model Service Expertise Safety 51 50 81 26 30 54 FY24 FY25 FY26 Consumer digital sales Business digital sales Strong Consumer outcomes Digitally-Enabled Service High Value, High Impact Interactions Personalised Digital Self Service Assisted Digital Remote (Chat and Voice) Agentic AI, Chat and Voice Assisted Digital (Branch) Face-to-Face High Volume Low Volume +23 Mobile App NPS1 +13 Online Banking NPS1
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Enhancing banking protection for Customers 65 Westpac’s systems and processes may not always be 100% effective and are subject to risks and other factors including those described in the 2026 Risk Factors document. Supporting our customers SafeCall Spot genuine Westpac calls • Australian-first in- app calling capability to help prevent scammers impersonate us • Available in the app to ~1.1 million customers Verify Payee name verification • Confirmation of payee capability which includes industry wide name & account verification • Averted $5.7m in customer scam losses in FY26 SaferPay Alerts of potential scams • Challenged over 1.2m transfers; customers abandoned $898m in payments in FY26 • Averted $135m in customer scam losses in FY26 SafeBlock Take control of your security • Allows customers to immediately block their account when they suspect they are being scammed • More than 490,000 blocks applied in FY26 JESS AI assistant • Real time voice AI that assists with ~1,200 calls per day helping staff spot scams • JESS AI Agents also now search for extra recovery opportunities, scam intelligence and provides detailed call analysis
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Broad suite of security features driving down customer losses 66 Westpac’s systems and processes may not always be 100% effective and are subject to risks and other factors including those described in the 2026 Risk Factors document. Supporting our customers Customer reported scam losses 23% lower compared to FY25 and 57% lower than FY23, with prevention measures saving $360m in customer scam losses FY26 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 Sep-26 Number of cases Net customer loss Safeblock go liveChange in scam case definition JESS AI solution launched Verify introduced for corporate customers SafeCall customer rollout begins Industry confirmation of Payee go live Full roll out of JESS for Scam Operations Verify in branch go live Advanced customer behavioural tools combatting remote access and voice scams Saved customers $55m in averted scam losses in FY26 Dynamic CVC reduces card fraud by more than half compared to customers that use static CVC Utilised by over 48,000 customers per day Real-time blocking of questionable online merchants Saved $136m from >945k customer scam incidences in FY26
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Cyber Security – a Layered Defence in the AI era 67 Westpac’s systems and processes may not always be 100% effective and are subject to risks and other factors including those described in the 2026 Risk Factors document. 1 Multi-factor authentication. Supporting our customers Employees Controls underpin who we hire; how we grant access; and safe use of approved AI tools Customers Dedicated controls to help protect customers from fraud, including MFA1 and AI scam detection Suppliers Security reviews, limited access to systems and data, and monitoring of supplier AI risk Core Security Core security capabilities across all systems, e.g. malware prevention, firewalls, AI email defence System Security Integrated approach to security of our systems, e.g. design reviews, patching and AI model security Monitoring, Cyber Intelligence & Peer Networks 24/7 monitoring of attacks and control weaknesses, with AI- driven anomaly detection. Threat detection supported by cyber threat intelligence and sharing partnerships Monitoring, Cyber Intelligence & Peer Networks System Security Data
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Responsible by design Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack68 Educate Protect & defend Govern at scale Embedding responsible AI principles through capability, controls and protection Educate • Board and Executive education on strategy and risks • Education for all employees • Training for specialised activities Govern at scale • Provide clear visibility and ownership of use cases • Move to automated risk assessment where appropriate, maintaining human accountability • Embed technical controls Protect & defend • Protect sensitive data through a controlled environment • Embed AI within cyber, identity and operational resilience controls • Strengthen monitoring third-party dependency and concentration risk
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Segment performance
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Segment focus areas 70 This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. Segments Consumer Deliver personalised, digital-first experiences Deepen customer relationships Improve cost efficiency Grow proprietary lending 33% Contribution to pre-provision profit Business & Wealth Continue lending momentum Leverage transaction banking capability Deepen customer relationships Expand banker presence, training and expertise 34% Contribution to pre-provision profit Institutional 21% Contribution to pre-provision profit New Zealand Deepen customer relationships Enhance digital and AI capability Improve key experience drivers to outperform peers in NPS Outperform market growth in target areas 12% Contribution to pre-provision profit Deepen customer relationships Invest in digital, data and insights Improve operational efficiency through simplification, automation and AI Grow transaction banking and markets
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Consumer 71 1 Includes branch sales staff, virtual bankers and lenders. 2 Includes all points of presence including Advisory, Community Banking Centres and Kiosks. Co-located branches are considered two points of presence. 3 ATM numbers include fee free Westpac Group ATMs, Precinct, ATMx, and other majors’ ATMs’. 4 Refer to definition on page 150. 5 Apr-26 3MMA. Source: 5D Brand & Ad Tracking Program. Consumer Customers ~10m Bankers1 3,650+ Branches2 619 Largest fee-free ATM network3 MFI4 #2 NPS®4 #2 Brand consideration5 #2 Of sales are digital 81% ~6,400
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1.81 1.74 1.72 2H25 1H26 2H26 59.6 57.1 57.0 2H25 1H26 2H26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Consumer 2H26 financial performance Profit ($m) Cost to income ratio (%) Net interest margin (%) Impairment charges ($m) 1,716 1,780 1,836 1,126 1,184 1,117 2H25 1H26 2H26 2H25 1H26 2H26 72 Consumer Up 7% Down 260bps 104 86 2384 bps 3 bps 9bps 2H25 1H26 2H26 Impairment charge Impairment charge to average loans Down 1% Pre-provision profit Net profit Down 9bps
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack NPS®1 New arrivals MFI (%)1 Consumer NPS and MFI 73 1 Products per customer. 2 Refer to definition on page 150. Consumer -5 0 5 10 15 Sep-25 Mar-26 Sep-26 WBC Peers FY25 FY26 FY25 FY26 FY25 FY26 15.4% 15.7% 15.5% Sep-25 Mar-26 Sep-26 # of transaction sales Youth and family # of transaction sales Up 3% Up 20% Affluent # of customers with 3+ PPC1 Up 16% Small business NPS +4pts2 FY25 to FY26
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1.0 1.0 1.0 0.7 0.4 1.0 1.2 1.0 1.0 0.7 1.0 0.9 2H25 1H26 2H26 WBC ex RAMS Peer 1 Peer 2 Peer 3 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Consumer deposits Household deposits system multiple Transaction accounts (#,000) Deposits by type (%) Savings mix (%)2 1 ADI system published by APRA in the Monthly ADI statistics. 2 Mix of Consumer savings accounts. Behavioural savings largely reflects Westpac Life and St.George Incentive Saver, other savings largely reflects Westpac e-Saver and St.George Maxi Saver. 3 Average rate for behavioural savings products over the period. 13% 13% 12% 49% 50% 49% 18% 17% 17% 20% 20% 21% $365bn $379bn $390bn Sep-25 Mar-26 Sep-26 Transactions Savings Term Offsets 8,254 8,512 8,749 Sep-25 Mar-26 Sep-26 157 165 166 22 25 26 $180bn $189bn $192bn 84% 85% 87% Sep-25 Mar-26 Sep-26 Behavioural savings Other savings % earning the bonus rate 74 Consumer UP 6% 1 3
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Consumer home loans Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack75 Mortgage balance by origination ($bn) 285 301 311 212 217 221 497 518 532 Sep-25 Mar-26 Sep-26 Third party First party Mortgage share growth and margin 0.8x 1.2x 1x 1.91% 1.90% 1.89% 2H25 1H26 2H26 WBC ex RAMS system multiple RBA OO variable margin Proprietary home loans Median time to decision (Days) 4.5 3.9 3.9 5.1 6.1 4.8 2H25 1H26 2H26 Proprietary Third party 1 ADI System published by APRA in the Monthly ADI statistics. 2. RBA new owner-occupier housing lending rates for the four major Australian banks, less the average RBA cash rate. 3 Average from Mar-26 to Aug-26. Consumer 1 2 32.6 34.0 37.234.8 38.2 42.4 2H25 1H26 2H26 First party Flow (%) - Westpac Group First Party Flow (%) - Westpac brand 3
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0.46 0.65 0.81 50 74 81 2H25 1H26 2H26 Sales (#m) % of total sales 5.7 5.9 6.0 2H25 1H26 2H26 2H25 1H26 2H26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Consumer operational efficiency # FTE per 1000 customers Digital sales2 Settlements per banker (HoH)1 Digitally active customers (#m)3 1 Average over the half. 2 Refer to page 150. 3 Consumer and business customers who have had an authenticated session (including Quickzone) on Westpac Group digital banking platforms in the prior month. 4 Customers who have not used Branch or Call Centre channels over the last three months. 2H25 2H26 76 Consumer Up 76% Up 3% Up 5% Down 10% 67%Digital only4: 70% 70%
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Business & Wealth 77 1 Customers relate to managed relationship customers and cumulation of entity level customers within our Small Business Mass Managed segment. Customers are counted where they hold at least one active or open account, on a unique customer ID basis within each brand. 2 For definitions see page 150. 3 Wealth customers represents BT customers with a platform, investments and/or margin lending product, and Private Bank relationship managed customers with a banking and/or investment product. 4 Wealth FUA represents BT Panorama FUA, and Global Investment Services (GIS) FUA within Private Bank. Business & Wealth Business Banking Wealth Pacific 1.0m Customers1 #3 NPS ®2 #2 MFI2 $171bn Wealth FUA4 $2bn Loans 378k Wealth customers3 320k Customers $128bn Loans $145bn Deposits
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45.7 42.7 42.3 2H25 1H26 2H26 4.76 4.66 4.60 2H25 1H26 2H26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Business & Wealth 2H26 financial performance Net profit ($m) Cost to income ratio (%) Net interest margin (%) Impairment charges ($m) 78 Business & Wealth Down 3ppts 119 216 156 21 bps 36 bps 25 bps 2H25 1H26 2H26 Impairment charge Impairment charge to average loans 1,690 1,842 1,913 1,096 1,137 1,230 2H25 1H26 2H26 2H25 1H26 2H26 Pre-provision profit Net profit Up 13% Up 12%
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Business & Wealth building deeper customer relationships 1 For definitions see page 150. 2 Includes customers managed by the Business and Wealth segment. 79 Business & Wealth -20 -10 0 10 20 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 WBC Peers NPS®1 Small business#3 Commercial#3 SME#1 Customer advocacy Customer depth MFI Share – Sep-26 19.2 26.7 18.7 17.3 Westpac Group Peer 1 Peer 2 Peer 3 Average needs met per connection – Sep-26 4.5 4.8 3.8 3.5 Commercial RC&A SME Small Business2
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152 156 157 2H25 1H26 2H26 Deposits growth ($bn) 40 8 30 14 8 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Business & Wealth deposits Deposits mix by segment (%) 1 Business Transaction Banking line of business. 80 Business & Wealth Up 3%$157bn Sep-26 119 134 158 FY24 FY25 FY26 New transaction account sales (#,000s)1 Up 33% Deposits mix by type (%) 45 36 19 Transactions Term Savings $157bn Sep-26 Commercial Regional Commercial & Agriculture Small Business & SME Private Wealth BT & Pacific
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Business lending Business lending2 Growth in target sectors (%)3 Growth in sub-segments (%)3New lending flows by channel (%)1 1 Adjusted for customer segment changes between Business & Wealth and Institutional. 2 Australian Business Lending line of business. 3 Compared to Sep-25. 4 Represents managed professional services. 81 21 16 13 Agriculture Health Professional services4 18 13 8 53 55 47 45 FY25 FY26 First party Third party Commercial Regional Commercial & Agriculture SME & Small Business 114 119 128 2H25 1H26 2H26 Balances ($bn) 1,168 1,187 1,261 2H25 1H26 2H26 Revenue ($m) Up 12% Up 8% Business & Wealth First party mix up 2ppts
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132.7 147.6 158.3 Sep-25 Mar-26 Sep-26 Asgard FUA migrated to Panorama in March 2026 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack BT Panorama Private wealth Wealth 1 Includes $16.2bn Asgard FUA migrated to Panorama in March 2026. 2 2025 Investment Trends Platform Competitive Analysis and Benchmarking Report. 3 Managed accounts as % of Panorama book, Oct- 23 to Sep-26. 4 New funded accounts > $500k 5 CANSTAR Home Insurance Awards 2026. 82 Business & Wealth $158.3bn $12.8bn Global Investment Services FUA Up 19% 10.8 11.9 12.8 Sep-25 Mar-26 Sep-26 Up 18% Insurance Award winner Winner of six CANSTAR awards for Outstanding Value Home Insurance5 GIS Growth New funded accounts + 33% YoY4, underpinning FUA growth GIS Transformation Technology and digital experience transformation underway, clients can now access GIS via Westpac Live GIS Award Winner Winner of five independent awards, earning global recognition for Alternative and Self-Directed investments One platform Asgard migrated to Panorama March 26. Benefits on track Award winner Awarded Best Client Portal & Mobile App2 Super aligned 89% of net flows and 54% of FUA from super sector 22.5% Managed accounts penetration, up from 15.4%3 Cost/FUA ▼ Efficiency uplift of 23% (2H25 vs 2H26) 33% Panorama Net flows ex. benefits payments up YoY FUA ($m)1
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FY25 FY26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Business & Wealth operational efficiency Average time to decision (days) Business lending cost per deal ($) Average first time right (%) Banker productivity1 1 Includes relationship managers and assistant relationship managers. 83 Business & Wealth Down 6% 5.8 5.6 6.1 2H25 1H26 2H26 68 71 73 2H25 1H26 2H26 FY25 FY26 Lending per banker Deposits per banker FY25 FY26 Up 11% Up 3%
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Institutional 84 1 Operational deposits per NSFR calculation as defined by APRA Prudential Standard (APS 210). 2 ADI System published by APRA in the Monthly ADI statistics. 3 Green Street Infrastructure league table database, Australia, 12 months to 30 September 2026. 4 Bloomberg AUD bond league table (ex-self led) as at 30/09/2026 + KangaNews AU Securitisation league table (AUD + foreign currency, ex self-led) as at 03/10/2026 5 2026 KangaNews Fixed-Income Research Poll. WIB was ranked #1 in 7 out of 11 categories. Institutional Operational Deposits1 +20% Lending +18% Debt Capital Markets Income +27% Live in-pilot Westpac One Public Sector deposits2 #1 Project Finance and Renewables3 #1 AUD bonds & ABS4 #1 Economics and Research5 #1
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Institutional 2H26 financial performance Cost to income ratio (%) Net interest margin (ex markets) (%) Impairment charges ($m) Profit ($m) 85 Institutional 38 134 (9) 7bps 21bps (1bp) 2H25 1H26 2H26 Impairment charge/(benefit) Impairment charge/(benefit) to average loans 1.98 1.84 1.84 3.19 3.08 3.15 2H25 1H26 2H26 Net interest margin Risk adjusted margin 1,137 1,146 1,196 800 735 895 2H25 1H26 2H26 2H25 1H26 2H26 Pre-provision profit Net profit Up 5% Up 12% 42.4 41.5 42.3 2H25 1H26 2H26 Down 12bps
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118 131 138 2H25 1H26 2H26 721 776 840 2H25 1H26 2H26 Institutional lending Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack86 Institutional lending Sector growth ($bn)3 1 12 months to Sep-26. 2 Based on approved limits 3 Compared to Sep-25. Institutional Portfolio mix (%) 29% 18% 20% 32% Real Estate & Health Consumer & Industrials Energy Infrastructure & Resources Financial Institutions & Government Other 6 7 5 2 Property Financial Institutions & Government Energy, Infrasructure & Resources Consumer & Industrials Balances ($bn) Net interest income ($m) Up 18% Up 17% New lending with existing customers181% Investment grade2 82% Compound annual lending growth over 5 years15% $138bn Sep-26
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Institutional deposits and payments Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack87 Operational Deposits (%)4 Sector growth ($bn)2 1 ADI System published by APRA in the Monthly ADI statistics. 2 Compared to Sep-25. 3 Compared to the major banks. 4 Operational deposits per NSFR calculation as defined by APRA Prudential Standard (APS 210). Institutional Deposits ($bn) 57 60 68 Sep-25 Mar-26 Sep-26 8 7 2 1 Financial Institutions Public Sector Energy, Infrastructure & Resources Real Estate & Health 48 55 57 13 8 12 71 74 81 131 137 150 Sep-25 Mar-26 Sep-26 Term Savings Transactional Up 20% Increase in Superannuation deposits2 >200% Real-time processing for super3 1ST In Public Sector deposits1#1
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Markets Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack88 1 Bloomberg AUD bond league table (ex-self led) as at 30/09/2026. 2 #1 for Market Share and #1 for Relationship Strength Index in the Coalition Greenwich Voice of Client 2025 Institutional FX in Australia. Ranking against all banks. 3 #1 for Market Share in the Coalition Greenwich Voice of Client 2025 Interest Rate Derivatives in Australia. Ranking against all banks. 4 Comprised of gross fees including revenue recognised in IBCS (non-Markets). 5 Bloomberg AUD bond league table (ex-self led) as at 30/09/2026. 6 KangaNews AU Securitisation league table (AUD + foreign currency, ex self-led) as at 03/10/2026. Institutional Debt Capital Markets income4 ($m) Markets income composition ($m) AUD bond issuance (vol $bn)5 109 138 FY25 FY26 Up 27% 33 32 27 27 20 WBC CBA NAB UBS Barren- joey 15 14 9 6 5 WBC NAB BofA CBA Citi AUD securitisation (vol $bn)6 Institutional FX in Australia2#1 Corporate Derivatives3#1 Bond house in Australia and New Zealand1#1 344 343 328 67 73 31 42 23 31 51 64 59 2H25 1H26 2H26 FX Rates Credit Primary fees Commodities & Carbon Other DVA (19) 4 540 496 478 19 7 5 6 19 16
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Institutional operational efficiency 89 Lending per Banker ($m) Deposits per Banker ($m) 1 12 months to Sep-26. Institutional Revenue per Banker ($m) 5.6 5.5 5.6 Sep-25 Mar-26 Sep-26 167 178 186 Sep-25 Mar-26 Sep-26 187 186 201 Sep-25 Mar-26 Sep-26 Reduction in time to client activation for FX1 32% Increase in change velocity1 27% Reduction in transaction account opening time1 >50% Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack
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~1.5m Customers1 1.3x System in Household deposits4 ~1,600 Bankers2 1.0x System in Business lending4 2nd In Corporate NPS and Corporate relationship manager satisfaction3 80 Employee engagement index5 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack New Zealand 90 1 As at 30-Sep-26. 2 Consumer Bank & Wealth and Institutional & Business Banking staff excluding management and support cost centres as at 30-Sep-26. 3 Ranking of the four largest New Zealand banks by asset size. 4 RBNZ, September 2026. 5 At Aug-26. 6 Investment in growth and productivity initiatives. New Zealand 100% Business customers migrated to new Digital platform, Westpac One Business +62% Increase in strategic investment6
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854 795 747 671 545 542 2H25 1H26 2H26 2H25 1H26 2H26 2.39 2.29 2.17 2H25 1H26 2H26 46.3 48.9 50.8 2H25 1H26 2H26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack New Zealand 2H26 financial performance Net profit1 ($m) Cost to income ratio (%) Net interest margin (%) Impairment charges ($m) 1 NZD. 91 New Zealand Down 13% Down 22bps Up 4ppts (77) 37 (4) (15bps) 7bps (1bps) 2H25 1H26 2H26 Impairment charge/(benefit) Impairment charge/(benefit) to average loans Pre-provision profit Net profit Down 19%
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack New Zealand NPS Consumer NPS®1 Business blended NPS®2 Consumer channel satisfaction1 Relationship management satisfaction2 1 Ranking of the five largest New Zealand banks by asset size. 2 Ranking of the four largest New Zealand banks by asset size. 3 Relationship strength index. 21 14 15 30 28 3938 37 33 28 26 25 18 22 29 Sep-25 Mar-26 Sep-26 Westpac Peer 1 Peer 2 Peer 3 Peer 4 92 New Zealand Public Website#4 Contact Centre#5 ATM#3 18 18 2527 27 29 32 31 35 24 25 26 Sep-25 Mar-26 Sep-26 Westpac Peer 1 Peer 2 Peer 3 Corporate#2 Agribusiness#4 Institutional3#2
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49 23 28 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack New Zealand balance sheet1 Net loans ($bn) Customer deposits ($bn) Loans by type (%) Customer deposits by type and sub-segment (%) 1 NZD. 1.4 106.8 109.5 1.2 112.0 Sep-25 Mar-26 Consumer Business Sep-26 67 1 32 Mortgage Personal Business 93 New Zealand UP 2% Term deposits Savings Transaction Consumer Business Institutional 61 22 17 81.0 83.7 84.4 83.7 84.84 1.6 (0.9) Sep-25 Mar-26 Consumer Business Sep-26 UP 1% $112bn Sep-26 $84bn Sep-26 $84bn Sep-26
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack New Zealand operational efficiency 94 1 Proportion of customers >18 years old who have logged into Westpac One Business at least once in the last 90 days as of 30 September 2026. 2 Digital lending sales + digital non-lending sales + digital fulfilment sales YTD September 2026. 3 FY26. 4 12 months to July 2026. New Zealand Digital Adoption 100% Westpac One Business migration 77% digital adoption1 11% increase in digital sales volumes2 Customer Experience SME onboarding from 17 days to ~1 day Merchant onboarding from 13 days to < 5 days 535k+ forms signed digitally 3 Mortgage turnaround times from 8+ days to same day Productivity Paperless programme saving 72 tonnes of paper Multi-year technology infrastructure modernisation delivered 50% reduction in major technology incidents year on year 3 AI and Automation Generative AI supporting same day broker processing Conversational AI helping bankers find information faster 83% of calls answered within SLA 4
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Credit quality & provisions
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5,198 3,153 7,471 Reported probability-weighted ECL 100% base case ECL 100% downside ECL Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Provisions for expected credit loss Provisions for expected credit losses (ECL)1 ($m) Scenario weightings (%) Movement in provisions1 ($m) Australian forecasts for base case ECL2 This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 154. 1 Includes provisions for debt securities. 2 Forecast date is 30 September 2026. 3 These key economic indicators represent trough or peak values that characterise the scenarios considered in setting downside severity. Residential and commercial forecasts represent cumulative reduction over a two-year period. 96 Credit quality $2.0bn in provisions above the base case ECL Base case Downside 2026 2027 Trough / peak3 GDP growth 1.5% 1.7% (6%) Unemployment 4.7% 4.7% 11% Residential property prices (6.0%) 3.0% (27%) Commercial property prices 2.1% 4.3% (32%) 2.5 50.0 47.5 Upside Base Downside 4,589 4,540 610 658 65 48(114)5,199 5,198 Mar-26 Modelled provision (CAP) Overlays (CAP) IAP Sep-26 CAP IAP Increased overlay for energy intensive sectors and new overlay for discretionary spending sectors Small increases across B&W sectors
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Exposures as a % of TCE Key ratios Provisioning to TCE (%) Provision cover 1 The categories within non-performing exposures have been revised to improve alignment between credit quality and provisioning disclosures. A new category has been created for individually assessed exposures. This includes exposures with an individually assessed provision. The impaired exposures category, which will no longer be reported, has been allocated across individually assessed exposures, non-performing 90+ days past due and non-performing less than 90 days past due. 2 The sale of the RAMS mortgage portfolio in 2H26 resulted in a reduction in collectively assessed provisions to credit RWA of ~2bps. Sep-25 Mar-26 Sep-26 Provisions to gross loans (bps) 58 58 58 Individually assessed provisions to individually assessed exposures1 (%) 59 60 56 Collectively assessed provisions to credit RWA (bps) 2 125 129 127 97 Credit quality Sep-25 Mar-26 Sep-26 Stage 1 0.08 0.09 0.10 Stage 2 Non-stressed 1.21 1.26 1.32 Stressed 9.24 11.20 11.49 Stage 3 (non-performing) Collectively assessed 12.67 12.80 12.82 Individually assessed1 58.81 59.68 56.26 Total 0.38 0.38 0.38 Stage 2 and 3 – Decrease due to the sale of RAMS Stage 1 – Lending growth across most portfolios 0.78 0.72 0.71 11.43 10.32 8.92 87.79 88.96 90.37 Sep-25 Mar-26 Sep-26 Stage 3 Stage 2 Stage 1
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Portfolio composition 1 Risk grade equivalent. 2 Region is based on booking office. 3 NBFI is non-bank financial institutions. 4 Institutional counterparties; S&P rating or equivalent. Top 10 institutional exposures to corporations and NBFIs3 (% of TCE) Top 10 exposures to corporations & NBFIs at 30 September 2026 ($m)4 Total committed exposure (TCE) by risk grade at 30 September 2026 ($m) 98 Credit quality Standard and Poor’s risk grade1 Australia NZ / Pacific Other overseas Group % of total AAA to AA- 203,946 20,048 25,660 249,654 19% A+ to A- 51,199 5,240 17,005 73,444 5% BBB+ to BBB- 103,318 12,391 15,968 131,677 10% BB+ to BB 121,347 16,454 1,007 138,808 10% BB- to B+ 44,771 4,955 399 50,125 4% <B+ 14,693 2,027 - 16,720 1% Mortgages 594,144 71,386 - 665,530 49% Other consumer products 24,211 3,211 - 27,422 2% TCE 1,157,629 135,712 60,039 1,353,380 TCE at 30 September 2025 1,114,183 142,540 48,941 1,305,664 Exposure by region2 (%) 86% 10% 4% 100% 1.2 1.3 1.2 1.1 Sep-24 Sep-25 Mar-26 Sep-26 0 600 1,200 1,800 2,400 A- BBB- AA- A+ A- A+ A- A- AA- A-
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151 147 275 408 463177 166 337 418 497 FY22 FY23 FY24 FY25 FY26 1H 2H Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Stressed exposures as a % of TCE Movement in stress by segment (bps) New and increased individually assessed exposures ($m) Credit quality metrics 99 Credit quality Increase driven by single names in the utilities, agriculture and transport sectors 116 5 1 0 117(1) (4) Mar-26 Consumer Business & Wealth Institutional New Zealand Other (inc RAMS) Sep-26 0.05 0.07 0.08 0.09 0.54 0.38 0.34 0.34 0.27 0.32 0.30 0.28 0.59 0.51 0.44 0.46 1.45 1.28 1.16 1.17 Sep-24 Sep-25 Mar-26 Sep-26 Increase largely from the property and transport & storage sectors Reduction largely from the property sector Small increases across sectors Watchlist and substandard Non-performing, less than 90 days past due Non-performing, 90+ days past due Individually assessed
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0.0 1.0 2.0 3.0 4.0 5.0 6.0 Property Wholesale & retail trade Property & business services Agriculture, forestry & fishing Utilities Services Manufacturing Transport & storage Construction Accommodation cafes & restaurants Mining Sep-25 Mar-26 Sep-26 Credit quality across sectors Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack100 Non-retail stressed exposures by industry sector (%) 1 Finance and insurance includes banks, non-banks, insurance companies and other firms providing services to the finance and insurance sectors. Includes assets held for liquidity portfolio. 2 Property includes both residential and non-residential property investors and developers and excludes real estate agents. 3 Services includes education, health & community services, cultural & recreational and personal & other services. 4 Construction includes building and non-building construction, and industries serving the construction sector. 5 Includes individually assessed exposures. 6 Percentage of portfolio TCE. Exposure and credit quality by sector Sector Finance & insurance1 Property2 Wholesale & retail trade Property & business services Agriculture, forestry & fishing Utilities Services3 Manufacturing Transport & storage Construction4 Accomm, cafes & restaurants Mining TCE ($bn) Sep-26 162.1 102.6 38.0 32.9 31.6 31.4 30.9 27.5 25.4 16.0 15.3 10.4 Mar-26 168.2 98.1 35.0 32.3 29.4 30.2 30.1 27.0 26.3 15.3 15.0 9.4 Stressed (%)5,6 Sep-26 0.1 1.8 3.8 2.6 3.4 0.8 2.9 3.7 2.9 4.1 3.3 0.7 Mar-26 0.1 1.8 4.3 2.7 3.5 0.6 2.9 3.5 2.4 4.7 3.9 1.2 Individually assessed (%)6 Sep-26 0.0 0.1 0.2 0.4 0.2 0.3 0.7 0.4 0.5 0.3 0.2 0.0 Mar-26 0.0 0.0 0.3 0.3 0.1 0.2 0.6 0.4 0.4 0.1 0.1 0.0 Credit quality
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Sep-25 Mar-26 Sep-26 TCE ($bn) 23.3 26.3 25.4 % of Group TCE 1.79 1.94 1.88 Lending ($bn) 14.1 16.5 16.4 % of portfolio graded as stressed1,2 2.53 2.39 2.87 % of portfolio individually assessed 2 0.11 0.37 0.49 Sectors in focus: Transport & Storage Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack101 Transport & Storage Portfolio security composition (TCE) (%) Portfolio by sub-sector (TCE) (%) Geographic concentration (TCE) (%) 1 Includes individually assessed exposures. 2 Percentage of portfolio TCE. Credit quality 16 8 1 9 11 48 7 Road Transport Rail Transport Water Transport Air and Space Transport Other Transport Services to Transport Storage 6113 26 Fully secured Partially secured Unsecured 71 7 6 5 11 NSW, ACT VIC, TAS SA, NT, WA QLD Other Mostly Institutional
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Sep-25 Mar-26 Sep-26 TCE ($bn) 28.3 29.4 31.6 % of Group TCE 2.17 2.17 2.34 Lending ($bn) 24.5 24.8 27.4 % of portfolio graded as stressed1,2 3.68 3.53 3.37 % of portfolio individually assessed 2 0.06 0.11 0.20 Sectors in focus: Agriculture Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack102 Agriculture Portfolio security composition (TCE) (%) 89 8 3 Fully secured Partially secured Unsecured Portfolio by sub-sector (TCE) (%) Geographic concentration (TCE) (%) 1 Includes individually assessed exposures. 2 Percentage of portfolio TCE. Credit quality 22 27 25 11 15 Dairy Beef & sheep Grain Horticulture Other 20 20 13 16 6 25 NSW, ACT VIC, TAS SA, NT QLD WA NZ, Pacific, Other
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Sectors in focus: Construction Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack103 Credit quality Construction Portfolio security composition (TCE) (%) Portfolio by sub-sector (TCE) (%) Geographic concentration (TCE) (%) 1 Includes individually assessed exposures. 2 Percentage of portfolio TCE. Sep-25 Mar-26 Sep-26 TCE ($bn) 14.8 15.3 16.0 % of Group TCE 1.13 1.13 1.18 Lending ($bn) 9.2 9.4 9.5 % of portfolio graded as stressed1,2 5.49 4.72 4.15 % of portfolio individually assessed 2 0.11 0.12 0.28 57 22 21 Fully secured Partially secured Unsecured 46 15 16 6 7 3 7 NSW VIC QLD SA WA ACT, NT, TAS NZ, Pacific, Other 20 17 9 64 29 15 Building construction Installation services Site prep services Structure services Completion services Other services Non-building construction >50% Institutional. The remaining include exposures with security support, such as guarantees
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Sectors in focus: Utilities Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack104 Utilities Sep-25 Mar-26 Sep-26 TCE ($bn) 29.0 30.2 31.4 % of Group TCE 2.22 2.23 2.32 Lending ($bn) 13.0 14.3 15.4 % of portfolio graded as stressed1,2 0.10 0.62 0.85 % of portfolio individually assessed 2 0.00 0.19 0.29 Portfolio security composition (TCE) (%) 45 17 38 Fully secured Partially secured Unsecured Portfolio by sub-sector (TCE) (%) 77 23 Electricity, gas & water supply Communication Services Geographic concentration (TCE) (%) 78 1 13 8 NSW Rest of Aust NZ, Pacific Other 1 Includes individually assessed exposures. 2 Percentage of portfolio TCE. Credit quality Mostly Institutional
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Sep-25 Mar-26 Sep-26 TCE ($bn) 26.7 27.0 27.5 % of Group TCE 2.04 1.99 2.03 Lending ($bn) 13.8 14.2 14.6 % of portfolio graded as stressed1,2 4.33 3.51 3.66 % of portfolio individually assessed 2 0.38 0.37 0.40 Sectors in focus: Manufacturing Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack105 Manufacturing Portfolio security composition (TCE) (%) Portfolio by sub-sector (TCE) (%) Geographic concentration (TCE) (%) 1 Includes individually assessed exposures. 2 Percentage of portfolio TCE. Credit quality 26 21 14 16 5 18 Food and beverage Machinery and equipment Petroleum, coal, chemical and associated product Metal product Non-metallic mineral product Other 37 18 45 Fully secured Partially secured Unsecured 54 8 5 5 2 12 14 NSW, ACT VIC, TAS SA, NT QLD WA NZ, Pacific Other Mostly Institutional
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18 25 19 17 15 6 Office Retail Residential Industrial Corporate Other 18 12 8 98 45 NSW & ACT VIC QLD SA, NT, WA & TAS NZ & Pacific Institutional Sectors in focus: Commercial Property Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack106 Commercial property exposures (% of TCE) Commercial property portfolio composition (TCE) (%) 1 Policy exception can be made under limited circumstances. 2 Fully secured is where the exposure is less than 100% of the bank extended value of the security, which is a discount of the market value of the security. 3 Includes individually assessed exposures. 4 Percentage of commercial property portfolio TCE. 5 Region is based on booking office. Commercial property portfolio composition (TCE) (%) Credit quality Sub-sector Borrower type Region5 6.8 6.9 7.2 7.2 7.6 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 Sep-25 Mar-26 Sep-26 TCE ($bn) 93.6 98.1 102.6 % of Group TCE 7.17 7.24 7.58 Lending ($bn) 75.1 79.5 83.6 Median risk grade (S&P equivalent) BB BB BB % of portfolio graded as stressed3,4 2.41 1.82 1.78 % of portfolio individually assessed4 0.05 0.04 0.05 • Single credit policy, supported by industry sector concentration limits • Maintained credit standards, with close oversight of portfolio • Managed by specialist relationship teams, dedicated credit officers and subject matter experts • Limited risk appetite for lower grade office buildings • Weighted average LVR for the Australian secured portfolio <50% • Credit policy maximum LVR at origination 70% 1 • 84% fully secured 2 • 12% unsecured, mostly Institutional 25 11 53 11 Investors & developers <$10m Developers >$10m Investors >$10m Diversified property groups and property trusts Credit quality
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Sectors in focus: Accommodation, Cafes and Restaurants Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack107 Accommodation, Cafes and Restaurants Sep-25 Mar-26 Sep-26 TCE ($bn) 13.7 15.0 15.3 % of Group TCE 1.05 1.11 1.13 Lending ($bn) 11.9 12.8 13.4 % of portfolio graded as stressed1,2 3.70 3.95 3.28 % of portfolio individually assessed 2 0.06 0.07 0.17 Portfolio security composition (TCE) (%) 85 12 3 Fully secured Partially secured Unsecured Portfolio by sub-sector (TCE) (%) 39 42 14 5 Accommodation Pubs, taverns and bars Cafes and restaurants Clubs (hospitality) Geographic concentration (TCE) (%) 60 11 15 6 3 2 3 NSW VIC QLD SA WA ACT, NT, TAS NZ, Pacific 1 Includes individually assessed exposures. 2 Percentage of portfolio TCE. Credit quality
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Sep-25 Mar-26 Sep-26 TCE ($bn) 14.4 14.7 15.5 % of Group TCE 1.10 1.08 1.15 Lending ($bn) 9.3 9.2 10.6 % of portfolio graded as stressed1,2 5.65 4.77 3.85 % of portfolio individually assessed 2 0.77 0.50 0.28 Sectors in focus: Retail Trade Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack108 Retail Trade Portfolio security composition (TCE) (%) 44 29 27 Fully secured Partially secured Unsecured Portfolio by sub-sector (TCE) (%) 45 27 28 Personal and household goods retailing Motor vehicle retailing and services Food retailing Geographic concentration (TCE) (%) 54 11 12 5 5 2 11 NSW VIC QLD SA WA ACT, NT, TAS NZ, Pacific, Others 1 Includes individually assessed exposures. 2 Percentage of portfolio TCE. Credit quality Mostly Institutional
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Sep-25 Mar-26 Sep-26 TCE ($bn) 154.4 168.2 162.1 % of Group TCE 11.8 12.4 12.0 Lending ($bn) 41.7 45.0 49.0 % of portfolio graded as stressed1,2 0.12 0.09 0.10 % of portfolio individually assessed 2 0.00 0.01 0.01 Sectors in focus: Finance & Insurance Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack109 Finance & Insurance Portfolio by segment (TCE) (%) 59 32 7 2 Institutional Treasury New Zealand Business & Wealth and Consumer Portfolio by sub-sector (TCE) (%) 41 59 Bank NBFI Institutional segment exposure • Exposure in the Institutional segment is primarily through: • Securitisation: $49bn • Subscription finance: $15bn • Securitisation and subscription finance exposures are all investment grade rated • Subscription finance is with leading investment managers and primary recourse is to the investors not the underlying funds 1 Includes individually assessed exposures. 2 Percentage of portfolio TCE. Credit quality
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10 2 2 2 3 6 7 11 15 22 19 Pre- 2017 2018 2020 2022 2024 2026 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack By product and repayment type (%) By year of origination (% of total book) Australian mortgage portfolio composition1 1 All data excludes RAMS (prior periods have been restated to exclude RAMS). 2 Flow is new mortgages settled in the 6 month period. 3 Includes amortisation. Calculated at account level, where split loans represent more than one account. 110 Mortgage credit quality Calendar year Australian mortgage portfolio Sep-25 Mar-26 balance Sep-26 2H25 1H26 flow2 2H26 Total portfolio ($bn) 497.0 517.7 531.9 61.0 67.4 58.7 Owner occupied (OO) (%) 67.7 66.9 66.5 61.0 60.9 62.5 Investment property loans (IPL) (%) 31.5 32.4 32.8 39.0 39.1 37.5 Variable rate / Fixed rate (%) 97/3 96/4 95/5 99/1 97/3 95/5 Interest only (I/O) (%) 12.2 12.7 13.1 20.1 20.3 21.8 Proprietary channel (%) 42.7 41.9 41.6 32.6 34.0 37.2 First home buyer (%) 12.3 12.4 12.3 12.0 13.7 12.6 Mortgage insured (%) 8.5 7.3 6.4 2.5 1.9 1.9 Average loan size3 ($’000) 342 355 365 563 575 557 Sep-25 Mar-26 Sep-26 Customers ahead on repayments inc. offset account balances (%) By accounts 86 86 86 By balances 85 85 85 1 10 22 2 66 1 10 22 2 65 1 11 22 2 64 LOC IPL-I/O IPL-P&I OO-I/O OO-P&I Sep-25 (Portfolio) Mar-26 (Portfolio) Sep-26 (Portfolio)
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack 30+ day and 90+ day delinquencies (%)2 90+ day delinquencies by vintage (%) Australian mortgage portfolio performance1 1 All data excludes RAMS (prior periods have been restated to exclude RAMS). 2 A reclassification of some hardship arrangements has impacted the reporting of 90+ day delinquencies and hardship balances. 90+ day delinquencies and hardship balances from September 2024 have been revised in this table and chart. 3 Total portfolio includes line of credit loans. 4 Financial hardship assistance is available to customers experiencing temporary financial difficulty, including changes in income due to a change in employment status, illness, a relationship breakdown or natural disasters. Hardship assistance often takes the form of a reduction or deferral of repayments for a short period. 5 Mortgage loss rates for March balances are annualised, based on losses for the 6 months. Mortgage loss rates for September are actual losses for the 12 months ending. Australian mortgage portfolio Sep-25 Mar-26 Sep-26 90+ day delinquencies (bps):2 Total portfolio3 67 62 67 Owner occupied loans 63 62 67 Investment property loans 69 58 61 Principal & interest loans 64 62 68 Interest only loans 61 45 42 First home buyers 65 63 69 30+ day delinquencies Total portfolio3 129 116 124 Customers in hardship2,4 (by balances, bps) 53 57 60 Consumer properties in possession (#) 120 125 172 Non-performing, individually assessed mortgages (by balances, bps) 2 2 2 Mortgage losses net of insurance ($m, for 6 months ending) 15 20 15 Annual mortgage loss rate5 (bps) 0.5 0.8 0.7 111 Mortgage credit quality Months on book 0.0 0.5 1.0 1.5 0 6 12 18 24 30 36 42 48 54 60 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 0.67 1.24 0.5 1.0 1.5 2.0 2.5 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 90+ day delinquencies 30+ day delinquencies
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Australian mortgage portfolio composition and performance1 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack112 Portfolio by State (%) 41 27 16 9 7 NSW/ACT VIC/TAS QLD WA SA/NT 90+ day delinquencies by State (%)2 Debt-to-income >=6x at origination (%) Applicants gross income band3 (2H26 drawdowns, % by approved limits) 1 All data excludes RAMS (prior periods have been restated to exclude RAMS). 2 A reclassification of some hardship arrangements has impacted the reporting of 90+ day delinquencies. 90+ day delinquencies from September 2024 have been revised in this chart. 3 Combined income in instance of multiple applicants. Mortgage credit quality 0.0 0.5 1.0 1.5 2.0 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 ALL NSW/ACT VIC/TAS QLD WA SA/NT 21.7 11.1 7.5 7.7 7.7 7.6 7.3 7.2 5.9 Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 14 18 52 16 6 9 58 27 <$150k $150k to $200k $200k to $500k >$500k Owner Occupied Investment Property
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Australian mortgage portfolio Loan-to-value Ratios (LVRs) and offset accounts1 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack113 Loan-to-value ratios (%) 28 22 34 9 8 0.0 25 20 37 11 7 0.4 65 14 12 7 2 0.5 0.4 0 50 100 0<=60 60<=70 70<=80 80<=90 90<=95 95<=100 >100 2H26 drawdowns LVR at origination Portfolio LVR at origination Portfolio dynamic LVR Serviceability assessment creates a buffer for borrowers • Loans are assessed at the higher of: • The customer rate, including any life-of-loan discounts, plus the serviceability buffer of 3.0%5; or • The minimum assessment rate, called the “floor rate”, currently 5.05% • Interest only (I/O) loans: Assessed based on the residual principal and interest (P&I) term using the applicable P&I rate, plus a 3.0% buffer • New fixed rate loans: Assessed on the variable rate to which the loan will revert after the fixed period, plus a buffer Australian mortgage portfolio LVRs Sep-25 balance Mar-26 balance Sep-26 balance Weighted averages3 LVR at origination (%) 70 70 70 Dynamic LVR2 (%) 48 47 49 LVR of new loans4 (%) 69 70 69 Offset account balances ($bn) 52 55 62 71 81 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 1 All data excludes RAMS (prior periods have been restated to exclude RAMS). 2 Dynamic LVR is the loan-to-value ratio taking into account the current loan balance, changes in security value, offset account balances and other loan adjustments. Property valuation source Cotality. 3 Weighted average LVR calculation considers size of outstanding balances. 4 Average LVR of new loans is on rolling 6 months. 5 A serviceability buffer of 1.0% may be applied on an exceptions basis for certain customers seeking to refinance their loan, subject to eligibility criteria including LVR and repayment amounts. Mortgage credit quality N/A 2
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12 10 1 1 4 4 14 14 Sep-25 Sep-26 30 1 14 17 21 19 28 1 13 17 21 19 28 Behind On time < 1mth < 6mths >6mths to <2yrs >2yrs Sep-25 Sep-26 37 16 19 14 13 1 >2yrs >6mths <2yrs <6 mths < 1 mth On time Behind Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Australian mortgage portfolio repayment buffers1 1 All data excludes RAMS (prior periods have been restated to exclude RAMS). 2 Excludes line of credit. 3 Customer loans ahead on payments exclude equity/line of credit products as there are no scheduled principal payments. Includes mortgage offset accounts. ‘Behind’ is more than 30 days past due. ‘On time’ includes up to 30 days past due. Changes in customer buffers3 (%) Customers ahead on repayments3 20.2 20.1 20.3 21.1 21.5 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 Buffer to balance ratio2 (%) 114 Mortgage credit quality Investment property loans – (generally maintain higher balances for tax purposes) Accounts opened in the last 12 months Structural restrictions on repayments e.g. fixed rate Residual – <1 month repayment buffer Loans ‘on time’ and <1mth ahead (% by balances) Buffer = current limit – outstanding balance + offset balance (% by balances) Owner-occupied variable rate customers change in buffer over 12 months (by balances) 31 (% by accounts) 0 20 40 60 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 Increased Unchanged Decreased
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Australian mortgage portfolio underwriting1 1 Credit policy at September 2026. 2 HEM is the Household Expenditure Measure, produced by the Melbourne Institute. Income • Verified via payslips, tax returns or salary credits, with other supporting documentation such as PAYG payment summaries or ATO Income Statements (minimum standards apply) • Shading applies to less certain income sources e.g. overtime, bonuses Credit Score & Credit Bureau • Bespoke application scorecards segmented by new and existing customers • Credit and score override rates tracked and capped • Credit bureau checks required Expenses • Assessed as the higher of a borrower’s declared expenses or HEM2 comparable expenses plus any expenses that are not comparable to HEM (e.g. private school fees, life insurance) • HEM is applied by income bands, post settlement postcode location, marital status and dependants • 17 expense categories used, aligned with Melbourne Institute guidelines and LIXI standards Serviceability assessment For serviceability assessment, loans are assessed at the higher of: The customer interest rate, including any life-of-loan discounts, plus the serviceability buffer of 3.0%, or The minimum assessment rate, called the “floor rate”, currently 5.05% • A serviceability buffer of 1.0% may be applied on an exceptions basis for certain customers seeking to refinance their loan, subject to eligibility criteria including LVR and repayment amounts • For I/O loans, serviceability is assessed on a P&I basis over the residual term • New fixed rate loans assessed on the variable rate to which the loan will revert after fixed period, plus a buffer • All existing customer commitments are verified • Review Westpac Group accounts and Comprehensive Credit Reporting (CCR) to identify customer commitments • Limits apply to higher debt-to-income lending; >7x referred for manual credit assessment where LVR >80% • Credit card repayments assessed at 3.8% of limit or balance whichever is higher Genuine savings deposit requirements • Minimum 5% proof of genuine savings for higher LVR loans (typically LVR >90% or >80% for Australian Government 5% Deposit Scheme Loans). Any Home Owner Grants are not considered genuine savings Security • LVR restrictions apply depending on location, property value and nature of security • Restrictions on high-density apartments based in postcode defined areas, generally capital city CBD’s and properties in towns heavily reliant on a single industry, e.g. mining, tourism LMI • Mortgage insurance for higher risk loans, such as LVRs >80%. Special package policy waivers apply for certain professionals and Westpac Group staff 115 Mortgage credit quality
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6 8 85 Insurance not required (Low risk profile including loans <80% LVR) Not insured >80% LVR (Policy for certain professionals and Westpac staff) Insured 5 (>80% LVR) Australian mortgage portfolio1 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack116 Hardship2 balances (% of portfolio) 0.60 0.00 0.50 1.00 1.50 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 Average dynamic LVR and negative equity 0.5 0.5 0.6 0.6 0.4 49 49 48 48 49 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 % with Negative Equity Avg Dynamic LVR (%) Hardship2 balances by support solution (% 2H26 new hardship accounts) 17 62 1 20 Total Portfolio by insurance profile3 (%) 1 All data excludes RAMS (prior periods have been restated to exclude RAMS). Financial hardship assistance is available to customers experiencing temporary financial difficulty, including changes in income due to a change in employment status, illness, a relationship breakdown or natural disasters. A reclassification of some hardship arrangements has impacted the reporting of hardship balances. Hardship balances from September 2024 have been revised in this chart. 3 In 2H21 Westpac Lender’s Mortgage Insurance Limited was sold to Arch Capital Group. Westpac has entered into a 10-year exclusive supply agreement for Arch to provide lenders mortgage insurance to the Group. 4 Includes loans originated under the Australian Government 5% Deposit Scheme. 5 Includes loans where LMI applies to >70% LVR loans, for example, single industry towns. Reduced repayments (temporarily) No repayments (temporarily) Capping of arrears (Arrears capitalised into the principal owed, repayments are recalculated) Other (may include standalone term extension or other tailored solution) 4 Mortgage credit quality
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Australian mortgage portfolio interest only and investment property lending1 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack117 Interest only (I/O) lending by dynamic LVR and income band (% of total I/O lending) Investment property portfolio by number of properties per customer (%) Scheduled I/O term expiry 2 (% of total I/O loans) 1 All data excludes RAMS (prior periods have been restated to exclude RAMS). 2 Based on outstanding balance. Excludes line of credit loans and I/O loans without date (majority construction loans). 3 Dynamic LVR is the loan-to- value ratio taking into account the current loan balance, changes in security value, offset account balances and other loan adjustments. Property valuation source Cotality. 4 Includes amortisation. Calculated at account level where split loans represent more than one account. 5 Customer loans ahead on payments exclude equity/line of credit products as there are no scheduled principal payments. Mortgage credit quality 112 I/O portfolio $70bn (13% of portfolio) at 30 September 2026 Applicant gross income bands Investment property lending (IPL) portfolio Sep-25 Mar-26 Sep-26 Investment property loans ($bn) 157 168 174 Weighted averages LVR of IPL loans at origination (%) 69 69 69 LVR of new IPL loans in the period (%) 69 70 68 Dynamic LVR3 of IPL loans (%) 48 47 49 Average loan size4 ($’000) 373 387 398 Customers ahead on repayments including offset accounts 5 (%) 75 75 75 90+ day delinquencies (bps) 69 58 61 Annualised loss rate (net of insurance claims) (bps) 0.7 1.5 0.7 29 16 5 19 10 5 60 30 11 <=60% 60%<=80% >80% Dynamic LVR bands (%) <$150k $150k to $200k $200k to $500k >$500k 72 20 5 2 11 1 2 3 4 5 6+ 13 18 16 19 23 10 0.6 0<1 Yr 1<2 Yrs 2<3 Yrs 3<4 Yrs 4<5 Yrs 5<10 Yrs 10 Yrs+
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Australian consumer finance Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack118 Australian consumer finance portfolio ($bn) Sep-25 Mar-26 Sep-26 Lending ($bn) 8.4 8.4 8.2 As a % of Group loans 1.0 0.9 0.9 30+ day delinquencies (%) 2.18 2.22 1.95 90+ day delinquencies (%) 1.13 1.09 0.91 Australian consumer finance portfolio 6.4 2.0 8.4 6.5 1.9 8.4 6.3 1.9 8.2 Credit cards Personal loans Total consumer finance Sep-25 Mar-26 Sep-26 Credit card accounts paying minimum repayment (%)1 4.2 4.0 4.1 3.9 3.9 3.6 3.6 3.2 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 1 Minimum repayment over at least six consecutive months. Minimum repayment defined as <=5% of each months statement cycle balance. Credit quality Australian consumer finance 90+ delinquencies (%) 0.52 2.25 0.0 1.0 2.0 3.0 4.0 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 Credit cards Personal loans Portfolio write-offs
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0.94 0.0 1.0 2.0 3.0 Sep-18 Sep-20 Sep-22 Sep-24 Sep-26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Mortgage 90+ day delinquencies4 (%) Unsecured consumer 90+ day delinquencies4 (%) Mortgage portfolio LVR5 (% of portfolio) Business stressed exposures to business TCE (%) New Zealand credit quality 119 1 Mortgage portfolio indicates gross loans. 2 Broker and proprietary channel ratios for Sep-25 and Mar-26 have been restated to align with current period presentation. 3 Unsecured consumer portfolio indicates outstanding balance. 4 In May-19 we made changes to the reporting of customers in hardship to align to the method used by APRA. 5 LVR based on current loan property value at latest credit event. New Zealand credit quality 89% of mortgage portfolio has an LVR less than 80% 0.2 0.1 0.1 0.2 0.2 0.2 1.7 1.7 1.6 2.2 2.0 1.9 Sep-25 Mar-26 Sep-26 Watchlist & substandard Non-Performing, Collectively Assessed Non-Performing, Individually Assessed 45.1% 19.2% 24.7% 8.0% 3.0% 0<=60 60<=70 70<=80 80<=90 90+ 0.42 0.0 0.2 0.4 0.6 0.8 1.0 Sep-18 Sep-20 Sep-22 Sep-24 Sep-26 Mortgage portfolio Sep-25 Mar-26 Sep-26 Total portfolio (NZ$bn)1 71.3 73.3 74.5 Owner occupied (%) 74.3 74.3 74.6 Investment property loans (IPL) (%) 25.7 25.7 25.4 Broker introduced (%) 2 59.5 61.0 62.3 Proprietary channel (%) 2 40.5 39.0 37.7 Fixed/ variable split (%) 88/12 89/11 90/10 Interest only (I/O) (%) 14.7 14.5 14.6 Loan to Value Ratio (LVR) 80<=90 7.2 7.5 8.0 LVR >90% 3.0 3.1 3.0 Mortgage 90+ day delinquencies (%) 0.46 0.50 0.42 Mortgage 30+ day delinquencies (%) 0.88 0.95 0.83 Unsecured consumer portfolio (NZ$bn) 3 1.2 1.2 1.2
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Capital, Funding and Liquidity
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Level 2 CET1 capital ratio movements (%, bps) CET1 Capital Ratio 12.46% 121 1 Capital deductions and other items including FX translation impacts. 2 Internationally comparable methodology references the Australian Banking Association (ABA) study on the comparability of APRA’s capital framework and finalised reform released on 10 March 2023. Capital, funding and liquidity 12.4612.42 74 23 (57) (28) (5) (3) Mar-26 Net profit 1H26 dividend RWA IRRBB Other RAMS sale Sep-26 1 Lending (31bps) Data refinement 9bps Credit quality (2bps) Key capital ratios (%) Sep-25 Mar-26 Sep-26 Level 2 CET1 capital ratio 12.5 12.4 12.5 Additional Tier 1 capital ratio 1.9 1.9 1.8 Tier 1 capital ratio 14.4 14.3 14.3 Tier 2 capital ratio 7.2 7.2 7.2 Total regulatory capital ratio 21.7 21.5 21.5 Risk weighted assets (RWA) ($bn) 450 458 462 Leverage ratio 5.1 5.0 5.0 Level 1 CET1 capital ratio 12.7 12.8 12.8 Internationally comparable ratios2 CET1 capital ratio 18.3 19.4 19.3 Leverage ratio 5.5 5.4 5.4
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Revised APS 117 effective from Oct 2025 23 35 34 (1) (3) (4) 7 9 6 7 7 40 40 28 39 37 47 49 -4 -2 0 2 4 6 -10 0 10 20 30 40 50 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 Optionality and basis risk Repricing and yield curve risk | Prospective IRRBB Capital Charge Total labels 3 Credit RWA up $1.1bn or 0.3% 450.0 458.3 11.4 1.2 0.9 1.8 0.6 0.3 462.1 (3.5) (1.4) (7.5) Sep-25 Mar-26 Lending Counter- party credit and MTM risk Credit quality Data refinement FX translation RAMS sale IRRBB Operational risk Market risk Sep-26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Risk Weighted Assets 1 Includes other assets, securitisation exposures in the banking book and settlement risk. 2 Mark to market. 3. As defined by the revised APS 117. IRRBB RWA ($bn) Embedded loss/(gain) history 122 Capital, funding and liquidity 1 UP $3.8BN OR 0.8% 2 RWA ($bn) %RWA $bn 2.00 3.00 4.00 5.00 -$8b -$4b $0b $4b $8b $12b Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 Embedded loss/(gain) 3Y Swap Rate
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack123 Internationally comparable capital ratio reconciliation1 APRA’s capital requirements are more conservative than those of the Basel Committee on Banking Supervision (BCBS), leading to lower reported capital ratios by Australian banks. The following details the adjustments and how Westpac’s APRA CET1 capital ratio aligns to an internationally comparable ratio. Westpac’s CET1 capital ratio (APRA basis) 12.5 Equity investments Balances below prescribed threshold are risk weighted, compared to a 100% CET1 deduction under APRA’s requirements 0.0 Deferred tax assets Balances below prescribed threshold are risk weighted, compared to a 100% CET1 deduction under APRA’s requirements 0.5 Capitalised expenses APRA requires these items to be deducted from CET1. The BCBS only requires exposures classified as intangible assets under relevant accounting standards to be deducted from CET1 0.6 Interest rate risk in the banking book (IRRBB) APRA requires capital to be held for IRRBB. The BCBS does not have a Pillar 1 capital requirement for IRRBB 1.9 RWA scaling factor APRA applies a scaling factor to all Advanced IRB2 credit RWAs. The BCBS does not apply this scalar 0.9 Property finance APRA applies an additional scaling factor to property finance RWA. The BCBS does not apply this scalar 0.7 Residential mortgages APRA applies scaling factors to mortgage RWAs for higher risk segments such as interest only and investor mortgages and applies a standardised risk weight to certain mortgages. The BCBS does not apply this treatment 1.6 Non-retail Loss Given Default (LGD) Non-retail LGD under the Foundation IRB (F-IRB) and Advanced IRB approaches differ from the BCBS 0.1 New Zealand APRA requires New Zealand RWAs to be largely calculated in accordance with the RBNZ rules. The RBNZ rules are more conservative than BCBS 0.5 Internationally comparable CET1 capital ratio 19.3 Internationally comparable Tier 1 capital ratio 21.9 Internationally comparable total regulatory capital ratio 32.0 1 Internationally comparable methodology references the ABA study on the comparability of APRA’s capital framework and finalised reform released on 10 March 2023. 2 Internal ratings-based approach (IRB). Capital, Funding and Liquidity
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Regulatory capital changes This page contains ‘forward looking statements’. Please refer to the disclaimer on page 154. Implementation Change Details 1 Jan 2027 Additional Tier 1 capital and leverage ratio • AT1 instruments to be phased out, with the 1.5% AT1 requirement replaced by 1.25% Tier 2 and 0.25% CET1. Total CET1 increases from 10.25% to 10.50%, while total capital remains unchanged at 18.25% • Leverage ratio, large exposure and related party limits to be based on CET1 rather than Tier 1 capital. Minimum leverage ratio decreases from 3.50% to 3.25%. Commencing in 2027 Enhancements to bank capital and liquidity frameworks • APRA has announced it will consult on reforms to credit risk capital, liquidity risk and market risk, including a simplified version of the Basel Committee’s Fundamental Review of the Trading Book standard. • APRA's first consultation proposed lower standardised risk weights for certain asset classes including selected infrastructure, high quality unrated corporate and residential property development exposures, with proposed implementation of 1 April 2027. • Consultations on the liquidity and market risk workstreams are expected to commence in late 2026 and 2027, respectively. Phased implementation from 1 Oct 2026 RBNZ capital review • Following its review of key capital settings, the RBNZ has announced a number of reforms including a lower CET1 requirement, removal of AT1 instruments, an internal Loss Absorbing Capacity (LAC) requirement, and more granular standardised risk weights. The capital requirement on a fully phased-in basis is 12% for CET1 and 21% for Total Capital (including LAC). Tier 2 and LAC instruments are expected to be issued internally to Australian parent banks. • In addition, domestic systemically important banks, including WNZL, may issue short-dated Tier 2 instruments until December 2028. 124 Capital, Funding and Liquidity
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Tier 2 Capital and AT1 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack125 Total capital AT1 and Tier 2 capital maturity/call profile1,2,3 ($bn) Tier 2 capital issuance by currency1,4 ($bn) Tier 2 capital outstanding1,2 (%) 1 Excludes Westpac New Zealand Limited (WNZL) AT1 and Tier 2 capital instruments as they do not qualify as regulatory capital under APRA’s capital framework. 2 Represents A$ equivalent notional amount using spot FX translation at 30 September 2026. 3 Securities in bullet format are profiled to maturity date, adjusted for any capital amortisation. Securities in callable format are profiled to the first call date. Securities in 11 non-call 10 format are profiled to the call date, adjusted for any capital amortisation. Any early redemption of capital securities would be subject to prior written approval from APRA, which may or may not be provided. 4 Represents A$ equivalent notional amount using spot FX translation at date of issue. Capital, Funding and Liquidity By format (notional amount) By currency (notional amount) 0.66 AT1 instruments will be eligible as Total Capital from 1 Jan 2027 until their first call date Includes LAC (4.5%) and Tier 2 (3.25%) Includes LAC (4.5%) and Tier 2 (2.0%) 1.3 2.9 4.3 2.8 4.0 2.2 3.4 4.5 1.2 2.3 1.6 0.8 0.7 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 FY20 FY21 FY22 FY23 FY24 FY25 FY26 AUD USD Other 3.5 1.5 1.8 1.8 2.9 1.8 4.8 1.8 4.3 3.0 2.3 11.8 FY27 FY28 FY29 FY30 FY31 FY32 FY33 >FY33 Additional Tier 1 Tier 2 79 21 Callable Bullet 5244 1 3 USD AUD JPY SGD 10.25 10.5 12.5 1.5 1.846.5 7.75 7.2 18.25 18.25 21.5 Current requirements Requirements… Westpac as at… CET1 AT1 Tier 2
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113 1130.1 4.4 1.8 (0.8) (5.6) Sep-25 Capital Retail/ SME deposits Wholesale funding Liquids and other Loans Sep-26 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Funding by residual maturity (%) NSFR (%) Balance sheet movements (year to 30 September 26)4 ($bn) Funding composition 1 Includes long term wholesale funding with a residual maturity less than or equal to 1 year. 2 Equity excludes FX translation, available-for-sale securities and cash flow hedging reserves. 3 Other includes derivatives and other assets. 4 Long term maturities are shown at historical FX rates to reflect actual cashflows. Short term funding excludes FX impact (shown separately). 62 67 68 69 8 7 7 71.4 1 0.5 0.510 10 9 8 4 4 4 5 9 7 8 8 5 4 4 3 Mar-19 Sep-24 Sep-25 Sep-26 126 Capital, Funding and Liquidity Wholesale offshore >1yr Wholesale onshore <1yr1 Wholesale onshore >1yr Wholesale offshore <1yr1 Securitisation Equity2 Customer deposits Customer deposits 74% of total funding (excluding equity) 3 • Stable funding settings maintained • Customer deposits 69% of total funding • Additional 20% from stable sources of long -term wholesale and equity 43 45 9 8 40 35 18 Customer Deposits Short term Funding Liquid Assets Long term issuance Long term maturities 2 Equity Other (inc FX & collateral) Customer Loans
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137 137 3.5 (1.5) (0.9) (0.4) (1.1) Sep-25 Qtr HQLA RBNZ eligible securities Customer deposits Wholesale funding Other flows Sep-26 Qtr Liquidity Coverage Ratio (LCR) Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack127 LCR ($bn) 100 19211 29 140 192 Net cash outflows Liquid assets Movement in LCR (%) High Quality Liquid Assets (HQLA) (%) Deposit quality (LCR funding value, $bn)3 1 Other flows include credit and liquidity facilities, collateral outflows and inflows from customers. 2 Other HQLA includes securities issued by foreign sovereigns and repo-eligible qualifying assets in foreign jurisdictions, including RBNZ eligible securities. 3 Movements in categories calculated before rounding. Capital, Funding and Liquidity Liquid assets HQLA 1 Net cash outflows (NCOs) Other flows1 Wholesale funding Customer deposits 2 September 2026 quarterly average 137% 26 6 55 13 Cash and balances with central banks Balances with foreign central banks Australian government and semi-government bonds Other HQLA $192bn 41 37 35 39 43 53 56 58 60 64 141 149 161 173 166 149 151 160 183 214 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 Stable deposits (Retail/SME) Less stable deposits (Retail/SME) Operational Non-operational +44% +18% +22% +3%
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Wholesale funding Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack128 Indicative wholesale funding costs (spread above 3mth Bank Bill Swap Rate) Long term wholesale funding back book1 (%) Short term funding back book (%) Long term wholesale funding back book1 (%) 1 Tier 2 and AT1 capital includes instruments issued by WNZL externally. Excludes securitisation. Capital, Funding and Liquidity By program By currencyBy product 0 20 40 60 80 100 1 year 2 year 3 year 4 year 5 year AUD Sep-26 AUD Sep-25 USD Sep-26 USD Sep-25 52 23 20 5 Senior bonds Covered bonds Tier 2 capital AT1 capital 48 45 7 Certificates of deposit Commercial paper MTN 35 35 21 4 3 2 USD AUD EUR GBP NZD Other
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35 42 28 40 31 34 32 21 25 6 25 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 >FY32 Funding for Lending Programme (NZ) Tier 2 capital Additional Tier 1 capital Covered bond Senior/Securitisation Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Long term wholesale funding profile 1 Group wholesale debt issuance with contractual maturity greater than 13 months. Tier 2 and AT1 capital includes instruments issued by WNZL externally. 2 Maturities are based on notional amount and FX currency translation as at 30 September 2026. Callable issuance is profiled to the first call date for the purposes of this disclosure. Any early redemption of Additional Tier 1 and callable Tier 2 instruments would be subject to prior written approval from APRA, which may or may not be provided. Maturities exclude securitisation amortisation. 3 Excludes securitisation. FY26 term debt issuance1 (%) Term debt issuance and maturity profile1,2 ($bn) 53 12 4 31 Senior Bonds Tier 2 Capital Securitisation Covered 43 21 21 6 4 5 AUD USD EUR GBP NZD Other 7 17 5 50 21 2 years 3 years 4 years 5 years >5 years 129 Capital, Funding and Liquidity By currency (%) By tenor3 (%)By program (%) Issuance Maturities Weighted average maturity of issuance was 5.5 years, compared to a FY23-25 average of 4.9 years
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Environment, Social & Governance
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Progress Focus areas Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Sustainability Strategy 131 These Sustainability pages contain forward-looking statements and statements of expectation. Please refer to the disclaimer on page 154. Details on our sustainability commitments, targets and other supporting information is in our 2026 Annual Report, Sustainability Report and Sustainability Index and Datasheet. See website for more information on our sustainability strategy. 1 For more information on our target, refer to page 133. ESG What Taking action now to create a better future To be our customers’ #1 bank and partner through life Climate transition Decarbonisation and resilience Decarbonisation and resilience for customers and our operations Housing affordability Supply, access and ownership New housing supply, alternative pathways to ownership for customers and housing availability for underserved communities Regional prosperity Growth in regional Australia Regional business growth, local employment, community and environmental outcomes Highlights • Extended our branch moratorium to 2030 • Community banking service pilot rolled out to a further 14 regional communities Highlights • Remained #1 financier to renewable projects in Australia • 85% of our financed emissions sector targets showed a lower emissions profile Highlights • New Housing Strategy to contribute to additional housing supply and improved access to housing options • Housing target 1 to finance $100bn by 2030 Material topics and where to find more information Human rights Reconciliation Action Plan Nature
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132 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Climate Transition progress 1 FY26 uses 30 June 2026 as a proxy for 30 September 2026, except New Zealand agriculture targets, which use 30 September 2026. Refer to the Appendix of our 2026 Sustainability Report for details of the methodologies for estimating our emissions. 2 Baselines: Commercial Real Estate - FY22; Residential Real Estate – 31-Aug-22; Aluminium - FY23; all other targets - FY21. 3 See our Sustainability Customer Requirements for more information. 4 Percentage of customers assessed in advance of their request for new/renewed corporate lending or bond facilitation. 5 Preliminary ratings assessment ahead of CTP evaluation criteria requirements starting from 30 September 2025. 6 In circumstances where preliminary discussions indicate a customer does not meet our requirements, such as where a potential D rating may apply, and we decide not to proceed with a transaction, a Customer CTP Evaluation may not be undertaken. ESG Customer Climate Transition Plan evaluations Rating % of customers assessed4 FY264 FY255 A - Accept & monitor customer CTP execution 50 55 B - Accept & engage to encourage further development of CTP 50 36 C - Escalate to governance committee. New/renewed facilities may be declined 0 0 D - Decline new/renewed facilities 0 9 Customer Climate Transition Plan (CTP) evaluations apply to certain large customers in carbon-intensive sectors including metallurgical coal mining, oil and gas, and coal-fired power generation. They set out sector-specific expectations and inform lending decisions, including where restrictions may apply. 3 We have 13 financed emissions sector targets and continue to monitor progress towards our 2030 targets, with the latest disclosed progress based on FY25 and FY26 data. Progress on our financed emissions sector targets1 Changes in emissions from baseline2 (%) Westpac sector 2030 Targets Progress as at FY261 Progress as at FY251 Power generation (62) (50) (46) Upstream Oil and Gas (23) (44) (49) Thermal coal mining (100) (100) (100) Aviation (passenger aircraft operators) (60) (50) (49) Steel production As at FY26, we are on track to achieve our 2030 Cement, Steel and Aluminium targets and their progress is below our reference sector pathway. Given the small number of customers associated with each target and to ensure their confidentiality, we are not disclosing some figures. Aluminium Cement production Commercial Real Estate (Offices) (59) (28) (28) Residential Real Estate (Australia) (56) (15) (15) Australia Beef and Sheep (9) (20) (20) Australia Dairy (10) (13) (13) New Zealand Beef and Sheep (9) (7) 6 New Zealand Dairy (10) (5) (6) Sustainable Finance We have continued to grow our sustainable finance against our 2030 targets of $55bn in sustainable finance lending and $40bn in cumulative bond facilitation. 19.1 28.7 39.4 46.5 9.9 15.9 22.3 32.0 2023 2024 2025 2026 (TBC) Sustainable finance lending (Total TCE $bn) Sustainable bond facilitation (Total value of bond facilitation ($bn) cumulative from 1 October 2021) 132
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Housing affordability 1 The Housing Target is predominantly for the purpose of addressing housing supply challenges in Australia and includes a proportion to support demand. The Target measures eligible gross new lending from FY26 to FY30, including financing for residential development and investment, purchases of newly erected dwellings and residential land, and lending under the Government 5% Deposit Scheme (as a pathway to home ownership), as well as other eligible housing activities. Social housing may include low-cost or subsidised rental housing provided to eligible tenants by government or charitable organisations[1].Affordable housing may include rental housing for people on low to moderate incomes that has a rent set at a level lower than market rents- generally capped at a maximum of 80% of the market rent[2].Opportunities for renters may include purpose-built student accommodation, Build to Rent and co-living properties. Pathways to home ownership may include initiatives and products that increase access to home ownership. These descriptions are not intended to be exhaustive or static definitions. Eligible activities, including those described above, may evolve over the period to 2030.Target achievement is subject to assumptions and dependencies including customer demand, broader economic conditions, government policy, and Westpac’s credit standards, risk appetite and portfolio concentration limits. These factors may change over the period to 2030. 1&2 ACNC Commissioners Interpretation Statement: Community Housing. 133 ESG Westpac’s housing continuum Our strategic housing ambition: Contributing to Australia’s prosperity by supporting increased availability and affordability of housing Our housing target1: To finance $100 billion by 2030 to help increase the supply of homes in Australia, including social and affordable housing and opportunities for renters, as well as access pathways to home ownership SUPPORTING SOCIAL AND AFFORDABLE HOUSING GREATER OPPORTUNITIES FOR RENTERS PATHWAYS TO HOME OWNERSHIP Addressing the housing continuum allows us to support supply across all housing types, adapt to changing customer preferences and influence system-wide outcomes. We recognise housing needs evolve throughout life. The housing continuum is not linear, as life events and experiences result in individuals and households requiring different tenures of housing at different points in their lives.
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Our comprehensive mental health strategy is overseen by the Chief Mental Health Officer. Psychosocial risk monitoring is embedded in employee surveys, workforce planning and organisational change. Employee Health and Wellbeing initiatives include: • Dedicated mental health training • Access to free, confidential counselling, also available to immediate families • Robust protocols and escalation pathways to respond to acute vulnerability • Psychosocial risk assessment and employee consultation during organisational change processes • Face-to-face de-escalation training delivered to 132 branches Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Social – Strengthening Inclusion, Diversity and Wellbeing 134 1 In FY26 CEO is included in Executive Team and all other Board Members are included in the Non-Executive Directors’ measure. In FY27 the Board gender diversity objective will align with the Workplace Gender Equality Agency (WGEA) target to achieve 40% women on the Board, which will include CEO. 2 40% women, 40% men and 20% any gender. ESG Gender diversityEmployee Engagement Index Career development and mobility 2% average gender pay difference for like-for-like roles. 26.5% median gender pay gap for total annual reward, down 1.6%. Gender pay gap is heavily influenced by workforce composition, with more women in contact centres , operations and branches. Targeted actions • 40:40:202 ambition: increasing women in senior leadership and specialist roles • Progression: building skills and confidence for higher- paid roles through targets programs like Illuminate and StepUP • Pay equity: maintaining rigorous reviews and clear leadership accountability for pay equity • Flexibility: using employee insights and impact measures to guide our future approach Women % Sep-26 FY30 Target Non-Executive Directors1 40 40:40:202 Executive Team1 46 General Managers 38 Senior Leaders 40 Managers 40 Non-Managers 61 We continue to support our teams to do their best work. Highlights from the year include: • Internal career mobility remained steady at 30%, with 1,200+ employees attending career workshops • 17,000+ employees activated LinkedIn Learning, completing 13,000+ hours across more than 20,000 courses • 2,500+ mid-level leaders participated in LEAD, building adaptive leadership, coaching and enterprise thinking skills • Specialist pathways across Engineering, Data and Risk are building capability in priority skill areas • Reconciliation: launched 2025-28 Reconciliation Action Plan • First Nations careers: Employment and development pathways for Aboriginal and Torres Strait Islander peoples, including MobWay senior hiring initiative • Employee Advocacy Groups: 11,300+ employees involved • Altitude: new sponsorship program supporting culturally diverse employees' career progression • Neuro-inclusion: dedicated coaching for leaders to support neurodivergent employees Supporting mental health Strengthening inclusion 81 as at July-26 • 91% participation rate • Top quartile globally • 1 point below Top 10% of companies globally
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Economics
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Indicators show housing activity slowing, consistent with prior cycles 1 Sources: Cotality, ABS, Westpac Economics. Average monthly mortgage applications (,000s) Monthly mortgage applications vintage (,000’s) Real housing credit growth slows as real house prices weaken1 136 Economics 28 33 27 4Q264Q254Q 5yr average 15 20 25 30 35 40 45 50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2021 2022 2023 2024 2025 2026 Up 4% Down 15% Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack 2.0 2.2 2.4 2.6 2.8 3.0 3.2 (5) 0 5 10 15 20 25 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 Real housing credit growth, annual % (LHS) Real house price index, 3mth rolling average (log scale, RHS)
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Deposit system composition Source: ADI System published by APRA in the Monthly ADI Statistics. Change in deposit system composition ($trillion) System growth in recent halves ($bn) Annual deposit system growth (%) 137 Economics 51%50%47%46% 27% 28% 30% 29% 18% 19% 19% 21% 4% 4% 4% 3% 3.5 3.0 2.5 2.0 Sep 26Mar 24Sep 21Mar 19 Households NFC + CSO FC Government 69 65 65 61 34 12 9 20 18 10 (1) 17 2H25 1H26 2H26 Households NFC + CSO FC Government (10) (5) - 5 10 15 20 25 Mar 20 Sep 20 Mar 21 Sep 21 Mar 22 Sep 22 Mar 23 Sep 23 Mar 24 Sep 24 Mar 25 Sep 25 Mar 26 Sep 26 Households Non-financial businesses and community services organisations Financial businesses & Governments
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Australian and New Zealand economic forecasts – as at 28 October 2026 Sources: RBA, Statistics NZ, Westpac Economics. 1 Year average growth rates. 2 Through the year growth rates. Key economic indicators Private sector credit growth (% Ann) Key economic indicators 1 Year average growth rates. 2 Through the year growth rates. (8) (4) 0 4 8 12 16 Aug-12 Aug-14 Aug-16 Aug-18 Aug-20 Aug-22 Aug-24 Aug-26 Aug-28 Total credit Australia Housing Australia Business Australia Total credit New Zealand Westpac forecasts 2025 2026 2027 Calendar Years Q3 Q4 Q1 Q2 Q3 Q4 Q1E Q2F Q3F Q4F 2025 2026F 2027F 2028F World GDP1 - - - - - - - - - - 3.4 3.4 3.3 3.3 Australia GDP2 2.1 2.6 2.5 2.1 2.2 1.5 1.6 1.5 1.4 1.6 2.6 1.5 1.6 2.4 Unemployment – end period 4.3 4.3 4.2 4.4 4.6 4.7 4.7 4.8 4.8 4.7 4.3 4.7 4.7 4.5 CPI headline – year end 3.2 3.6 4.1 3.9 3.9 4.6 3.6 3.4 3.2 2.4 3.6 4.6 2.4 2.3 Interest rates – cash rate 3.60 3.60 4.10 4.35 4.60 4.85 4.85 4.85 4.60 4.35 3.60 4.85 4.35 3.85 New Zealand GDP2 1.2 1.6 1.7 2.6 2.3 2.5 2.5 2.7 2.7 2.7 1.6 2.5 2.7 3.3 Unemployment – end period 5.3 5.4 5.4 5.6 5.5 5.5 5.4 5.3 5.2 5.0 5.4 5.5 5.0 4.4 Consumer prices 3.0 3.1 3.1 4.1 3.7 4.3 3.7 2.5 2.3 1.4 3.1 4.3 1.4 1.9 Interest rates – official cash rate 3.00 2.25 2.25 2.25 2.75 3.00 3.50 3.75 4.00 4.00 2.25 3.00 4.00 3.75 138 Economics Sources: RBA, Westpac Economics. Sources: IMF, RBA, Statistics NZ, Westpac Economics 2025 2026F 2027F 2028F Australia Credit growth Total – year end 7.7 7.4 4.8 5.7 Housing – year end 6.9 6.1 4.0 5.5 Owner occupied 6.1 5.5 4.4 5.7 Investor 8.6 7.1 3.1 5.1 Business – year end 9.7 10.2 6.6 6.5 New Zealand Credit growth Total – year end 4.6 4.3 3.9 4.9 Housing – year end 5.7 5.1 4.5 5.3 Business – year end 2.8 3.1 2.8 4.3
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Housing correction remains consistent with historical cycles 1 Sources: CoreLogic, Westpac Economics. 2 Based on Westpac Economics forecast. Historical housing cycles Dwelling prices (annual %) Real dwelling prices (3mth annualised % chg) Australian housing cycles: peak to trough House Prices (%) Turnover (%) Duration (months) Lag to credit low (months) 2 Credit growth slowdown2 Interest rate tightening Jan 2008 to Jan-2009 (6.9) (31) 12 2 11.7 to 6.4% 5.5 to 7.25% May 2010 to Feb 2012 (5.5) (20) 20 4 8.2 to 4.4% 3 to 4.75% Jul 2017 to May 2019 (8.6) (24) 19 5 6.5 to 3.0% n.a. Jan 2022 to Jan 2023 (7.5) (29) 10 8 8.0 to 4.2% 0.1 to 4.35% Mar 2026 to Mar 20272 (10.9) (25) 12 6 7.5 to 3.8% 3.6 to 4.85% 139 Economics Capital city 10yr avg 2024 2025 2026F 2027F Sydney 3.4 2.8 6.5 (12) 1 Melbourne 2.2 –2.0 5.3 (8) 4 Brisbane 7.5 11.4 14.9 (4) 2 Perth 7.0 18.4 17.6 (2) 3 Australia 4.3 5.1 8.9 (8) 2 (60) (40) (20) 0 20 40 60 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 3mth annualised
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(20) (10) 0 10 20 30 40 0 500 1000 1500 2000 2500 3000 2010 2012 2014 2016 2018 2020 2022 2024 2026 Annual growth (right axis) Level (left axis) New Zealand Housing Market – activity remains subdued Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack140 Monthly house sales and prices Dwelling prices by regions Annual dwelling growth and price level Dwelling prices (%) – (to Sep-26) Capital city Pop’n Last 3 mths Last 12 mths Last 5 years Auckland 1.8m Down 1% Down 3% Down 19% Wellington 0.5m Down 1% Down 4% Down 28% Canterbury 0.7m Flat Up 3% Up 8% Nationwide 5.3m Down 1% Down 1% Down 13% Sources: Real Estate Institute New Zealand, Westpac Economics Economics Forecast (Annual %) Ave. past 10 years 2023 2024 2025 2026F 2027F Nationwide 5% (1%) (1%) Flat (1%) +2% %YRIndex = 1000 in 2010 Westpac forecasts 750 1250 1750 2250 2750 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 Auckland Canterbury Wellington Other regions (20) (10) 0 10 20 30 40 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 2004 2007 2010 2013 2016 2019 2022 2025 Sales %YR Sales (lhs) House prices (rhs) Index = 1000 in 2007
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3.5 (2.9) 0.2 1.7 (0.5) 0.4 Covid 2020 to 2021 Post covid 2022 to 2024 Current 2026 to 2027F Disposable income Consumer spend Household finances are improving, but consumers remain cautious Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Household income and spending: selected periods1,2 Westpac-Melbourne Institute Consumer Sentiment Index Household savings ratio (%)1 Westpac Consumer Panel: saving buffers by state (months)3 1 Source: ABS, Westpac Economics. 2 Real per capita, annual average. 3 Consumers with a mortgage, savings as months of essential expenses and minimum mortgage repayments. 60 80 100 120 140 160 Oct-16 Oct-18 Oct-20 Oct-22 Oct-24 Oct-26 Consumer Sentiment Unemployment Expectations 10 15 20 25 30 Jan-20 Apr-21 Jul-22 Oct-23 Jan-25 Apr-26 NSW/ACT QLD VIC/TAS WA SA/NT 6.5% 0 5 10 15 20 25 Jun-16 Jun-18 Jun-20 Jun-22 Jun-24 Jun-26 Economics 141
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95 100 105 Commercial SME (5.0) (2.5) 0.0 2.5 5.0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Income Expenses Total 202520242022 2023 Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Business customer cashflow conditions Cashflow gauge (income to expense) Source: Westpac Business Signal. QBS Industry Gauge (15 industries) Cashflow trends 142 Economics Index 3Q24 to 2Q25 = 100, including debt servicing Commercial starting to soften SME’s cashflow conditions deteriorating Excluding debt servicing payments, contribution to quarterly % change Improvement in income to expense ratio Deterioration in income to expense ratio 2026 202520242022 2023 2026
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Appendix
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Appendix 1: Net profit excluding Notable Items 144 For further information refer to Westpac’s 2026 Full Year Financial Results. Appendix $m 2H25 1H26 2H26 Change 1H26 – 2H26 (%) Net interest income 9,904 9,763 9,924 2 Non-interest income 1,567 1,521 1,500 (1) Net operating income 11,471 11,284 11,424 1 Expenses (6,218) (5,830) (5,951) 2 Pre-provision profit 5,253 5,454 5,473 0 Impairment charges (174) (443) (421) (5) Tax and non-controlling interests (NCI) (1,564) (1,528) (1,543) 1% Net profit 3,515 3,483 3,509 1%
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Appendix 1: Segments 2H26 net profit excluding Notable Items 145 For further information refer to Westpac’s 2026 Full Year Financial Results. Appendix 2H26 ($m) Consumer Business & Wealth Institutional New Zealand (A$) Group Businesses Net interest income 3,966 2,931 1,390 1,136 501 Non-interest income 299 383 681 113 24 Net operating income 4,265 3,314 2,071 1,249 525 Expenses (2,429) (1,401) (875) (635) (611) Pre-provision profit 1,836 1,913 1,196 614 (86) Impairment (charges)/benefit (238) (156) 9 4 (40) Income tax (expense)/benefit and NCI (481) (527) (310) (171) (54) Net profit 1,117 1,230 895 447 (180) 2H26 vs 1H26 (%) Consumer Business & Wealth Institutional New Zealand Group Businesses Net interest income 3% 4% 9% (7%) (15%) Non-interest income 5% (4%) (1%) - (27%) Net operating income 3% 3% 6% (7%) (15%) Expenses 2% 2% 7% (3%) (1%) Pre-provision profit 3% 4% 4% (10%) Large Impairment (charges)/benefit 177% (28%) Large Large Large Income tax (expense)/benefit and NCI (6%) 8% 12% (7%) (21%) Net profit (6%) 8% 22% (4%) Large
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Appendix 1: Segments FY26 net profit excluding Notable Items 146 For further information refer to Westpac’s 2026 Full Year Financial Results. Appendix FY26 ($m) Consumer Business & Wealth Institutional New Zealand (A$) Group Businesses Net interest income 7,832 5,744 2,660 2,362 1,089 Non-interest income 585 782 1,371 226 57 Net operating income 8,417 6,526 4,031 2,588 1,146 Expenses (4,801) (2,771) (1,689) (1,290) (1,230) Pre-provision profit 3,616 3,755 2,342 1,298 (84) Impairment (charges)/benefit (324) (372) (125) (28) (15) Income tax (expense)/benefit and NCI (991) (1,016) (587) (355) (122) Net profit 2,301 2,367 1,630 915 (221) FY26 vs FY25 (%) Consumer Business & Wealth Institutional New Zealand Group Businesses Net interest income 1% 7% 10% (8%) (23%) Non-interest income 4% 2% (2%) (8%) 138% Net operating income 2% 7% 6% (8%) (21%) Expenses (1%) 2% 3% (4%) (9%) Pre-provision profit 5% 11% 8% (12%) Large Impairment (charges)/benefit 19% 52% Large Large Large Income tax (expense)/benefit and NCI 4% 7% - (16%) (49%) Net profit 4% 8% 3% (16%) 146%
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Westpac Ratings 147 1 Please refer to the disclaimer for information about Westpac’s credit ratings. 2 Comparisons are year-on-year. Appendix CREDIT RATINGS1 ESG RATINGS 2 S&P GLOBAL RATINGS AA- Senior Unsecured Debt A- Subordinated Debt Stable Outlook MOODY’S INVESTORS SERVICE Aa2 Senior Unsecured Debt A3 (hyb) Subordinated Debt Stable Outlook FITCH RATINGS AA- Senior Unsecured Debt A- Subordinated Debt Stable Outlook MSCI AA 8.57 Score 0.17 points Score improved SUSTAINALYTICS Low Risk 12.7 Score Score stable ISS ESG RATINGS C+ 61.31 Score 7.14 points Score improved
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Individually assessed exposure Exposures with an individually assessed provision Stressed exposures Watchlist and substandard, and non-performing (including individually assessed) exposures Total committed exposures (TCE) Represents the sum of the committed portion of direct lending (including funds placement overall and deposits placed), contingent and pre -settlement risk plus the committed portion of secondary market trading and underwriting risk Watchlist and substandard Loan facilities where customers are experiencing operating weakness and financial difficulty but are not expected to incur loss of interest or principal Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Appendix 2: Definitions – credit quality Provision for expected credit losses Expected credit losses (ECL) are a probability -weighted estimate of the cash shortfalls expected to result from defaults over the relevant time frame. They are determined by evaluating a range of possible outcomes and taking into account the time value of money, past events, current conditions and forecasts of future economic conditions Collectively assessed provisions (CAP) Collectively assessed provisions for expected credit loss under AASB 9 represent the Expected Credit Loss (ECL) which is collectively assessed in pools of similar assets with similar risk characteristics. This incorporates forward-looking information and does not require an actual loss event to have occurred for an impairment provision to be recognised Individually assessed provisions (IAP) Provisions raised for losses on loans that are assessed on an individual basis. The estimated losses on these loans is based on expected future cash flows discounted to their present value and, as this discount unwinds, interest will be recognised in the income statement Stage 1: 12 months ECL – performing For financial assets where there has been no significant increase in credit risk since origination a provision for 12 months ECL is recognised. Interest revenue is calculated on the gross carrying amount of the financial asset Stage 2: Lifetime ECL – performing For financial assets where there has been a significant increase in credit risk since origination but where the asset is still performing a provision for lifetime ECL is recognised. Interest revenue is calculated on the gross carrying amount of the financial asset Stage 3 Lifetime ECL – non-performing For financial assets that are non-performing a provision for lifetime expected losses is recognised. Interest revenue is calculated on the carrying amount net of the provision for ECL rather than the gross carrying amount 148 Appendix
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Segments Consumer Consumer provides banking products and services, including mortgages, credit cards, personal loans, and savings and deposit products to Australian retail customers Business and Wealth Business and Wealth serves the banking and wealth needs of Australian customers, including small business, Agribusiness and Commercial businesses WIB Westpac Institutional Bank (WIB) provides a broad range of financial products and services to corporate, institutional and government customers Westpac NZ Westpac New Zealand provides banking, wealth and insurance products and services for consumer, business and institutional customers in New Zealand Earnings drivers Average interest-earning assets (AIEA) The average balance of assets held by the Group that generate interest income. Where possible, daily balances are used to calculate the average balance Net interest margin Calculated by dividing net interest income by average interest -earning assets (annualised where applicable) Core net interest margin Calculated by dividing net interest income excluding Notable Items and Treasury & Markets by average interest-earning assets (annualised where applicable) Pre-provision profit Net operating income less operating expenses NCI Non-controlling interests Full-time equivalent employees (FTE) A calculation based on the number of hours worked by full and part -time employees as part of their normal duties. For example, the full-time equivalent of one FTE is 76 hours paid work per fortnight Capital and liquidity Capital ratios As defined by APRA (unless stated otherwise) Committed liquidity facility (CLF) The RBA makes available to Australian Authorised Deposit -taking Institutions (ADIs) a CLF that, subject to qualifying conditions, can be accessed to meet LCR requirements under APS210 Liquidity. APRA announced in September 2021 that ADIs subject to the LCR should reduce their CLF usage to zero by 1 January 2023 High quality liquid assets (HQLA) Assets which meet APRA’s criteria for inclusion as HQLA in the numerator of the LCR Internationally comparable ratios Internationally comparable regulatory capital ratios are Westpac’s estimated ratios after adjusting the capital ratios determined under APRA Basel III regulations for various items. Methodology based on ABA study on the comparability of APRA’s capital framework and finalised reform released on 10 March 2023 Leverage ratio As defined by APRA (unless stated otherwise). Tier 1 capital divided by ‘exposure measure’ and expressed as a percentage. ‘Exposure measure’ is the sum of on -balance sheet exposures, derivative exposures, securities financing transaction exposures and other off-balance sheet exposures Liquidity coverage ratio (LCR) An APRA requirement to maintain an adequate level of unencumbered high quality liquid assets, to meet liquidity needs for a 30 calendar day period under an APRA - defined severe stress scenario. Absent a situation of financial stress, the value of the LCR must not be less than 100%. LCR is calculated as the percentage ratio of stock of HQLA and CLF over the total net cash out -flows in a modelled 30 day defined stressed scenario Net stable funding ratio (NSFR) The NSFR is defined as the ratio of the amount of available stable funding (ASF) to the amount of required stable funding (RSF) defined by APRA. The amount of ASF is the portion of an ADI’s capital and liabilities expected to be a reliable source of funds over a one year time horizon. The amount of RSF is a function of the liquidity characteristics and residual maturities of an ADI’s assets and off -balance sheet activities. ADI’s must maintain an NSFR of at least 100% Risk weighted assets (RWA) Assets (both on and off-balance sheet) are risk weighted according to each asset’s inherent potential for default and what the likely losses would be in case of default. In the case of non-asset-backed risks (ie. market and operational risk), RWA is determined by multiplying the capital requirements for those risks by 12.5 Appendix 2: Definitions – segments, earnings drivers, capital and liquidity 149 Appendix Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack
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Digital Digitally active Australia: Consumer and business customers who have had an authenticated session (including Quickzone) on Westpac Group digital banking platforms in the prior 30 days Digital sales The percentage of quality sales that were digitally initiated in a 12-week period (percentage against the count of all quality sales in that 12-week period) Mobile Wallet Payments Count of transactions that use a digital card via apple pay, fitbit pay, garmin pay, google pay and samsung pay products. Main Financial Institution MFI share MFI share results are based on the number of customers who have a Main Financial Institution (MFI) relationship with an institution, as a proportion of the number of customers that havea MFI relationship with any institution Consumer MFI share rank The ranking refers to Westpac Group’s MFI Share position relative to the other three major Australian banking groups (ANZ Group, NAB Group and CBA Group). Ranks are based on the values rounded to one decimal point. Business MFI share rank The ranking refers to Westpac Group’s MFI Share position relative to the other three major Australian banks (ANZ, NAB, CBA incl BankWest). Ranks are based on the values rounded to one decimal point. Consumer MFI share Source: Roy Morgan Single Source, September 2026 6MMA, weighted to ABS. MFI Banking Group customers. 2H25 – September 2025, 1H26 – March 2026, 2H26 – September 2026 Business MFI share Source: RFI Global, September 2026 6MMA, weighted to the Australian business population. MFI Banking Group customers. Appendix 2: Definitions – Digital, Main Financial Institution, and Net Promoter Score and Institutional Voice of Client 150 Appendix Net Promoter Score Net Promoter Score or NPS® Net Promoter® Score measures the net likelihood of recommendation to others of the customer’s main financial institution for retail or business banking. Net Promoter®, NPS®, NPS Prism®, Net Promoter System®, and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., NICE Systems, Inc., and Fred Reichheld. Net Promoter Score℠ is a service mark of Bain & Company, Inc., NICE Systems, Inc., and Fred Reichheld. Australia: Using an 11-point numerical scale, where 10 is ‘Extremely likely’ and 0 is ‘Not at all likely’, Net Promoter Score is calculated by subtracting the percentage of Detractors (0-6) from the percentage of Promoters (9-10). NPS – Consumer Source: RFI Consumer Atlas, September 2025 – September 2026, 6MMA, Australian MFI consumers aged 14+. Channel NPS Source: RFI Consumer Atlas, September 2026, 6MMA, Australian Westpac MFI customers aged 14+ who have used the channel in the last 4 weeks. NPS – Business Source: RFI Business Atlas, September 2024 – September 2026, 6MMA, Australian MFI businesses, including Small Business, SME (12MMA) and Commercial customers, weighted by numbers of businesses in each segment. NPS Rank The ranking refers to Westpac’s NPS position relative to the other three major Australian banks (ANZ, CBA and NAB). Ranks are based on the rounded values. Institutional Voice of Client FX Market share and relationship strength, Coalition Greenwich Voice of Client Foreign Exchange (Financial Institutions) Studies – Australia, total market, ranking against top four banks by market penetration. FX RSI Relationship strength, Coalition Greenwich Voice of Client Foreign Exchange (Financial Institutions) Studies – Australia, total market, ranking against top four banks by market penetration. Leading in Australian Fixed Income #1 market share in investment grade corporate bonds, asset-backed bonds, sub-investment grade bonds, cross currency swaps, #2 market share bonds and semi-government bonds, interest rate swaps – Coalition Greenwich 2025 Voice of Client Fixed Income Studies – Australia, total market, ranking against top eight banks by market penetration . Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack
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Relationship management scores Relationship Management - Corporate (Westpac NZ) Source: Ongoing online and phone survey among business owners and financial decision makers in businesses with an annual gross turnover of $5 million - $150 million. Percentage of respondents who have contact at least once a month with a specific named account manager or relationship manager at their main business bank and gave an 8-10 rating when asked to rate their main business bank’s performance via their ‘specific named contact (i.e. account manager or relationship manager)’. Scale is from 1 to 10 where 1= Poor and 10=Perfect. Reported on a 3 quarter rolling base. Result based on limited sample size. Relationship Management - SME (Westpac NZ) Source: RFI Global NZ SME Market Monitor, quarterly online survey among business owners and financial decision makers in businesses with annual gross turnover of $30,000 - $5 million. Percentage of respondents who have a dedicated Relationship Manager with their main business bank and gave an 8-10 rating when asked how satisfied they are with the experience with their Relationship Manager. Scale is from 0 to 10 where 0= Not at all satisfied and 10=Extremely satisfied. Reported on a 2-quarter rolling base. Relationship Strength Index - Institutional (Westpac NZ) Source: Coalition Greenwich 2026 Voice of Client NZ Large Corporate Relationship Banking Study The Relationship Strength Index (RSI) reflects all of the qualitative scores for a financial service provider (FSP) in a single number. This number is a statistical combination of the client’s evaluations of their FSPs shown on a scale from 0 to 1,000, with a mean score of 500 and a standard deviation of 166.67. The Relationship Strength Index displays the relative positions of competitors and the distribution of relationships. Reported annually. Relationship Management - Agribusiness (Westpac NZ) Source: Agribusiness market monitor conducted by Key Research. Percentage of respondents who have a Relationship Manager with their main business bank and gave an 8-10 rating when asked how they would rate their Relationship Manager overall considering all aspects of how they work with them. Scale of 1 to 10 scale where 1 means ‘poor’ and 10 means ‘excellent’. Base: Reported on a 12-month rolling base. Appendix 2: Definitions – New Zealand 151 Appendix Consumer Channel Satisfaction Consumer (Westpac NZ) Source: Insights HQ Limited Retail Market Monitor, Apr-Sep 2026. ATMs (Automated Teller Machines) (Westpac NZ) Percentage of respondents who use this channel with their main bank 3 monthly or more often and gave a rating of Very Good or Excellent. Reported on a 3-month rolling base. Contact Centre (Westpac NZ) Contact Centre = Telephone enquiry with a person at a call centre. Percentage of respondents who use this channel with their main bank 3 monthly or more often and gave a rating of Very Good or Excellent. Reported on a 6-month rolling base. Public Website (Westpac NZ) Public Website = banks’ or financial service providers’ websites (excluding those used only for internet banking). Percentage of respondents who visited in the last 4 weeks and gave an overall rating of Very Good or Excellent. Reported on a 6-month rolling base. Active customers Digitally active customers (Westpac NZ) New Zealand customers that have logged into the Westpac NZ digital banking platform at least once in the prior 90 days Active customers (Westpac NZ) New Zealand customers who satisfy one or more of the following criteria: (i) Have an income-generating product ‘in force’ (ii) Have made a customer- initiated financial transaction in the past 6 months on an account-based product and/or (iii) Have a balance of more than NZ$400 across current or savings accounts Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack
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Net Promoter Score Net Promoter® Score or NPS® (Westpac NZ) Net Promoter® Score measures the net likelihood of recommendation to others of the customer's main financial institution for retail or business banking. Net Promoter®, NPS®, NPS Prism®, and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., NICE Systems, Inc., and Fred Reichheld. Net Promoter ScoreSM and Net Promoter SystemSM are service marks of Bain & Company, Inc., NICE Systems, Inc., and Fred Reichheld. New Zealand Using a 10-point scale, where 10 is 'Extremely likely' and 0 is 'Not at all likely'. Net Promoter® Score is calculated by subtracting the percentage of Detractors (1-6) from the percentage of Promoters (9-10). NPS® - Consumer (Westpac NZ) Source: Insights HQ Limited Retail Market Monitor, Jul-Sep 2026. Corporate NPS (Westpac NZ) Source: Kantar BFM: NZ business, annual turnover $5m to $150m, with a dedicated relationship manager with their primary business bank. Apr-Sep 2026. Westpac sample size: n=120. Small Business NPS (Westpac NZ) Source: RFI Global SME Market Monitor: NZ business panels, annual turnover $30,000 to $5m. Apr-Sep 2026. Agribusiness NPS (Westpac NZ) Source: Key Research: NZ farming business, annual farmgate turnover $200k+, majority with debt $1m+, with a dedicated relationship manager. 12 months to Sep 2026 Institutional NPS (Westpac NZ) Source: Coalition Greenwich 2026 NZ Large Corporate Relationship Banking Study: Sample of customers from the NZ major banks. NPS® - Business Blended (Westpac NZ Internal Metric) Source: WNZL Business NPS data for each business segment is weighted and combined to calculate a Business Blended NPS across the four largest New Zealand banks by asset size. A weighting is applied to the data for each business NPS segment as follows: - Corporate NPS weight: 30% - SME NPS weight: 30% - Agri NPS weight: 20% - Institutional NPS weight: 20% Appendix 2: Definitions – New Zealand 152 Appendix Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack
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Catherine Garcia Head of Investor Relations, Institutional Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Investor Relations Team – Contact us Investor Relations contact Share registry contact 153 Disclaimer For all matters relating to Westpac’s strategy, performance and results. For all shareholding enquiries relating to: • Address details and communication preferences • Updating bank account details, and participation in the dividend reinvestment plan +61 2 9178 2977 1800 804 255 investorrelations@westpac.com.au westpac@cm.mpmas.mufg.com westpac.com.au/investorcentre au.investorcentre.mpms.mufg.com Justin McCarthy General Manager, Investor Relations Lucy Wilson Head of Corporate Reporting and ESG Shannon Thompson Head of Debt Investor Relations Arthur Petratos Manager, Shareholder Services James Wibberley Senior Manager, Investor Relations Bianca Julian Graduate, Investor Relations Nathan Fontyne Senior Analyst, Investor Relations
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Westpac Group 2026 Full Year Results Presentation & Investor Discussion Pack Disclaimer The material contained in this presentation is intended to be general background information on Westpac Banking Corporation (Westpac) and its activities. The information is supplied in summary form and is therefore not necessarily complete. It is not intended that it be relied upon as advice to investors or potential investors, who should consider seeking independent professional advice depending upon their specific investment objectives, financial situation or particular needs. The material contained in this presentation may include information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. All amounts are in Australian dollars unless otherwise indicated. A credit rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time by the assigning rating organisation. Credit ratings are for distribution only to a person (a) who is not a “retail client” within the meaning of section 761G of the Corporations Act and is also a sophisticated investor, professional investor or other investor in respect of whom disclosure is not required under Part 6D.2 or 7.9 of the Corporations Act, and (b) who is otherwise permitted to receive credit ratings in accordance with applicable law in any jurisdiction in which the person may be located. Anyone who is not such a person is not entitled to receive this presentation and anyone who receives this presentation must not distribute it to any person who is not entitled to receive it. Disclosure regarding forward-looking statements This presentation contains statements that constitute “forward-looking statements”. Forward-looking statements are statements that are not historical facts. Forward-looking statements appear in a number of places in this presentation and include statements regarding our current intent, belief or expectations with respect to our business and operations, macro and micro economic and market conditions, results of operations and financial condition, capital adequacy and liquidity and risk management, including, without limitation, future loan loss provisions and financial support to certain borrowers, forecasted economic indicators and performance metric outcomes, indicative drivers, climate- and other sustainability-related statements, commitments, targets, projections and metrics, and other estimated and proxy data. Words such as ‘will’, ‘may’, ‘expect’, ‘intend’, ‘seek’, ‘would’, ‘should’, ‘could’, ‘continue’, ‘plan’, ‘estimate’, ‘anticipate’, ‘believe’, ‘probability’, ‘indicative’, ‘risk’, ‘aim’, ‘outlook’, ‘forecast’, ‘f’cast’, ‘F’, ‘assumption’, ‘projection’, ‘target’, ‘goal’, ‘guidance’, ‘objective’, ‘ambition’, ‘pursue’, or other similar words, convey the prospective nature of events or outcomes and generally indicate forward looking statements. These statements reflect our current best estimates, judgements, assumptions, and views as at the date of this document and are subject to change, certain known and unknown risks, uncertainties and assumptions and other factors which are, in many instances, beyond our control (and the control of our officers, employees, agents and advisors), and have been made based on management’s and/or the Board’s current expectations or beliefs concerning future developments and their potential effect upon us. Forward-looking statements may also be made, verbally or in writing, by members of Westpac’s management or Board in connection with this presentation. Such statements are subject to the same limitations, uncertainties, assumptions and disclaimers set out in this presentation. There can be no assurance that future developments or performance will align with our expectations or that the effect of future developments on us will be those anticipated. Actual results could differ materially from those we expect or which are expressed or implied in forward-looking statements, depending on various factors including, but not limited to, those described in the sections titled ‘Operating Environment’ and ‘Risk' in our 2026 Annual Report as well as the 2026 Risk Factors document available at www.westpac.com.au. When relying on forward-looking statements to make decisions with respect to us, investors and others should carefully consider such factors and other uncertainties and events. Except as required by law, we assume no obligation to revise or update any forward-looking statements contained in this presentation, whether from new information, future events, conditions or otherwise, after the date of this presentation. We also make statements about our processes and policies (including what they are designed to do) as well as the availability of our systems or product features. Systems, processes and product features can be subject to disruption, and may not always work as intended, so these statements are limited by the factors described in the section titled ‘Risk’ in our 2026 Annual Report as well as the 2026 Risk Factors. Further important information regarding climate change and sustainability-related statements This presentation contains forward-looking statements and other representations relating to environment, social and governance (ESG) topics, including but not limited to climate change, net-zero, climate resilience, natural capital, emissions intensity, human rights, housing and other sustainability related statements, commitments, targets, projections, scenarios, risk and opportunity assessments, pathways, forecasts, estimated projections and other proxy data. These are subject to known and unknown risks, and there are significant uncertainties, limitations, risks and assumptions in the metrics and modelling on which these statements rely. In particular, the metrics, methodologies and data relating to climate and sustainability are rapidly evolving and maturing, including variations in approaches and common standards in estimating and calculating emissions, and uncertainty around future climate and sustainability related policy and legislation. The Group has prepared this information with due care and based on the best available data and assumptions at the reporting date. However, climate-related disclosures involve inherent estimation uncertainty and may be subject to change. Forward-looking information should be considered in the context of the assumptions, uncertainties and limitations described in this presentation, and the 2026 Sustainability Report. Investors should not place undue reliance on forward-looking statements and statements of expectation, including targets, particularly in light of the current economic climate and global volatility. Actual results, performance, conditions, circumstances or the ability to meet commitments and targets could differ materially from those we expect or that are expressed or implied in such statements. The climate and sustainability related forward-looking statements made in this presentation are not guarantees or predictions of future performance. There are usually differences between forecast and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material. Westpac will continue to review and develop its approach to ESG as this subject area matures 154 Disclaimer