Investor Presentaiton

AUSTRALIAN COMMERCIAL REAL ESTATE AUSTRALIAN COMMERCIAL REAL ESTATE (CRE) PORTFOLIO¹ 92 ($bn) 10.6% 10.5% 10.2% 9.9% 9.9% 54.0 54.6 53.2 52.3 51.2 47.1 48.6 48.0 47.3 46.6 6.9 6.0 Sep 18 Mar 19 Investor 5.2 Sep 19 5.0 Mar 20 Developer Group CRE as a % of Group GLAS 4.6 Sep 20 • • AUSTRALIAN CRE RESIDENTIAL DEVELOPER Developer drawn balance includes $1.1bn for land development and $2.0bn for residential development Residential development apartment exposure² ~11% lower since September 2019, however marginally higher (~7%) on March 2020 • ~95% of apartment developer exposure amortises within 2 years² NSW and VIC account for ~75% of apartment developer exposure² Inner city postcodes² account for ~26% of total residential apartment developer exposure • No material settlement defaults have impacted the scheduled repayment of apartment development exposures during 2H20 (1) Measured as drawn balance outstanding per APRA Commercial Property ARF 230 definitions (2) Transactions >$2m (limit), including those that are well advanced but yet to draw-down. Inner-City includes CBD and adjoining postcodes, along with Waterloo/Zetland in Sydney. Greater Brisbane and Greater Perth based on Greater Capital City Statistical Area as defined by ABS National Australia Bank

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