Investor Presentaiton

For personal use only • • • SYNERGIES ACCELERATED SYNERGY BENEFITS AND INTEGRATION COSTS CONFIRMED AND ACCELERATING BOQD GROUP SUMMARY Synergy cost commitment accelerated and additional synergies identified FY22 in year P&L synergies expected to be $30 - $34m EXPENSE SYNERGY PROFILE ACCELERATED FY22 FY23 FY24 Pre-tax cost synergy benefits of $70 - $80m annualised run rate expected by Synergies Annualised run rate $38 - $42m $70 - $80m $80m+ Delivered percentage¹ C.50% -56% 100% 100%+ the end of FY23, with further upside in FY24 from core platform consolidation Other synergy sources identified and under review: Capex benefits of c.$15m expected from consolidated investment roadmap Further NIM benefits from wholesale and retail deposits Non-interest income benefits PHASING OF INTEGRATION COSTS OF $130 - $140M EXPENSE SOURCE OF SYNERGIES FY21 FY22 FY23 FY24 c.$70 $80m c. $30 - $40m c.$10m Integration costs $13m FY22 spend primarily relates to²: Operating model changes Technology spend on network integration, ADI handback requirements including treasury system, regulatory reporting and payroll integration Risk, compliance and remediation programs Integration program management Bank of Queensland Limited 2021 Full Year Results Presentation ■ Operating Model ■ Project Propex ■ Supply Chain ■ Other (1) Based on $75m mid-point of synergies range (2) Integration costs will be taken from non-cash earnings. 30

View entire presentation