Investor Presentaiton

FINANCIAL IMPLICATIONS 8 Financial considerations - Pro forma impact 1. 123 2. on cash profits¹ Key metrics Pro forma financial impact assumes Target Business underlying earnings of ~$330 million and cash NPAT of ~$145 million for the year to June 20212 Key considerations for future revenue impact (post completion) mortgage balances expected to decline over time (partly offset by customers retained through refinancing); short term outlook for card balances to reflect ongoing COVID conditions (elevated repayment rates); detailed integration planning and management action to mitigate potential customer loss Total pre-tax annual cost synergies of ~$130 million p.a. expected to more than offset the impact of revenue decline in the mortgage book Impact of acquisition on Group cash opex target to be confirmed at 1H22 – Target Business pro forma cash opex of ~$410 million on a pre-synergies basis. Impact on forecast group cash opex subject to finalisation of TSAs with Citigroup and more detailed integration planning 8x pro forma Target Business NPAT based on upfront equity required of $1.2 billion 1.25x Price to book based on pro forma capital structure under NAB ownership CET1 impact on completion of 32bps with ~$220 million of capital (~5bps) released from achieving A-IRB status (approx. 3 years post completion) Expected to be marginally Cash EPS and Cash ROE accretive from completion³ Targeting pre-tax cost synergies of ~$130m p.a. Pro forma financial impact of Target Business based on estimated income and operating expenses for Target Business Assumes credit impairment charges of ~2.7% on unsecured lending portfolio, consistent with average charges observed on NAB unsecured lending portfolio from 2008 to 2020 Assumes targeted completion date of 31 March 2022, subject to regulatory approvals National Australia Bank

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