Financial Performance and Remediation Update

CONTINUING PHASED RISK REVIEW We continued our ongoing, phased review of credit risk policy settings for carbon intensive, climate sensitive and low-carbon sectors. In 2021, this included a specific review of the oil and gas sector. We will align to the International Energy Agency's Net Zero Emissions by 2050: A Roadmap for the Global Energy Sector report OIL AND GAS COAL We have capped oil and gas exposure at default at USD2.4bn and will reduce our exposure from 30 September 2026 through to 30 September 2050, aligned to IEA NZE 2050. This provides for measured re-orientation of client activity ensuring NAB can continue to support clients committed to transition¹ • We will only consider directly financing greenfield gas extraction in Australia where it plays a role in underpinning national energy security We will not directly finance greenfield gas extraction projects outside Australia • We will continue to support integrated LNG in Australia, NZ, PNG and selected LNG infrastructure in other regions, under the oil and gas exposure cap • We will not directly finance greenfield oil extraction projects or onboard new customers with a predominant focus on oil extraction • We will not finance oil and gas extraction, production or pipeline projects within or impacting the Arctic National Wildlife Refuge area or any similar Antarctic Refuge • We will not directly finance oil/tar sands or ultra-deep water oil and gas extraction projects We have capped thermal coal mining exposures at 30 September 2019 levels, and updated our plans to reduce thermal coal mining exposures by 50% by 30 September 2026 and to be effectively zero by 30 September 2030, apart from residual performance guarantees to rehabilitate existing thermal coal mining assets • We will not finance new or material expansions of coal-fired power generation facilities • • We will not finance new thermal coal mining projects or take on new-to-bank thermal coal mining customers From FY22, we will separately report our thermal coal-related rehabilitation performance guarantees as part of reporting our resources exposures • We recognise that currently there are no readily available substitutes for the use of metallurgical coal in steel production. We will continue providing finance to our customers in this segment, subject to enhanced due diligence which further considers underlying environmental, social and governance risks (1) The cap of USD2.4 bn was determined giving consideration to the three-year average exposure up to 30 September 2021 due to COVID impacts. Use of USD for the purposes of this cap is to account for currency movement because the majority of the portfolio is USD denominated. From 2022, oil and gas exposure at default will be reported in USD. For the purposes of this review oil and gas included: oil and gas extraction (upstream); liquefied natural gas (LNG) production (not at refineries - downstream LNG); and LNG production at wellhead (integrated LNG) 108 National Australia Bank

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