Investor Presentaiton

STRONG CAPITAL POSITION GROUP BASEL III COMMON EQUITY TIER 1 CAPITAL RATIO (%) 10.39 0.50 0.17 Capital generation +29bps (+27bps ex DRP) 0.98 (0.15) (0.07) (0.14) (0.19) (0.02) 11.82 11.47 Mar 20 Cash earnings Dividend (net DRP) RWA Growth¹ $4.25bn Equity Raise Rates and FX Large Notable Sale of MLC MTM Items Wealth Other Sep 20 Sep 20 pro forma² CET1 CONSIDERATIONS • Strong CET1 of 11.47%, well placed to absorb materially higher RWAs in an economic downturn while continuing to lend and support customers 2H20 CET1 benefit of 32bps from FX and MTM on high quality liquids (reflected in cash earnings, reserves & CRWA impacts including derivatives) vs 21bps drag in 1H20 Completion of MLC Wealth sale³ expected to add ~35bps CET1 (-7bps impact in 2H20 relating to separation cost provision) DIVIDEND AND OTHER CONSIDERATIONS Final dividend of 30cps, flat on 1H20 reflecting strong capital position, continuing uncertain outlook for the impacts of COVID-19, and APRA's revised dividend guidance represents 48% of cash earnings (including large notable items), 50% of statutory earnings (continuing operations) DRP will operate with no discount NAB is considering an offer of a new ASX listed Additional Tier 1 capital security alongside the repayment of NAB Convertible Preference Shares II (CPS II)4 (1) Excludes FX translation Adjusted for completion of agreed sale of MLC Wealth (3) ASX announcement on 31 August 2020; the purchase price of $1,440m comprises $1,240m in cash proceeds from IOOF and $200m in the form of a 5-year structured subordinated note in IOOF Expected completion before middle of calendar year 2021, subject to timing of regulatory approvals (4) Any offer remains subject to market conditions and all relevant approvals being obtained. Any offer of ASX listed Additional Tier 1 capital securities by NAB will be made under a prospectus that will 29 29 be available on NAB's website. If an offer is made, any person wishing to apply will need to do so as detailed in the prospectus National Australia Bank

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