Investor Presentaiton

THE LABOUR MARKET HAS RECOVERED AT A RELATIVELY QUICK PACE UNEMPLOYMENT HAS RECOVERED QUICKLY¹ UNEMPLOYMENT HAS FALLEN ACROSS STATES¹ (%) 20 15 10 5 0 -Unemployment Rate -Underutilisation Rate 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 HOURS WORKED HAVE REBOUNDED ACROSS STATES² (Index) 105 100 9 (%) 8 7 6 5 4 3 NSW - -VIC ―QLD -SA-WA TAS Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 WAGE GROWTH IS SOFT3 3.5 3.0 ли muy Forecast (%) NSW VIC ⚫QLD SA WA TAS 4.5 4.0 2.5 95 95 2.0 Quarterly -Year-ended 1.5 90 90 1.0 0.5 85 0.0 Mar-20 May-20 Jul-20 Sep-20 Nov-20 Jan-21 Mar-21 1997 2000 2003 2006 2009 2012 2015 2018 2021 Source: ABS. Data to March 2021 (2) Source: ABS, NAB. February 2020 = 100, data to March 2021 (3) Source: ABS. Data to December quarter 2020, NAB forecasts thereafter 106 National Australia Bank

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