Investor Presentaiton

AUSTRALIA CONTINUES TO TRANSITION AWAY FROM MINING REAL GDP GROWTH - YEAR ENDED %1 10.0 Non-mining MINING v NON-MINING INVESTMENT' 12 8.0 6.0 4.0 2.0 0.0 -2.0 Men Men Mining badly hypnoter 20 -10 10 Non-mining 8 6 4 10 Mining Forecast -20 0 1990 1995 2000 2005 2010 2015 1987 1992 1997 2002 2007 2012 2017 (1) Source: NAB, ABS 116 RESULTING IN DIVERSE CONDITIONS BY INDUSTRY AND REGION NAB BUSINESS CONDITIONS BY INDUSTRY¹ Manufacturing NAB BUSINESS CONDITIONS BY STATE² 50 50 Mining Construction -Retail 40 -Wholesale Transport/Utilities 40 -Finance, Property, Business -Household services 30 30 20 10 0 -10 -20 -30 20 20 10 10 -10 -20 -30 National Australia Bank -40 -40 2009 2010 2011 2012 2013 2014 2015 2016 2008 2010 2012 2014 2016 2008 2010 2012 2014 2016 -Australia NSW Vic QLD -SA WA -Tas (1) (2) 117 13 period Henderson trend. Source: NAB Monthly Business Survey Source: NAB Monthly Business Survey National Australia Bank

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