Investor Presentaiton

Australian housing market. Entering a significant correction phase; stabilisation expected late 2023. Australian dwelling prices (%, 3 month annualised) 40 35 30 25 20 15 10 5 0 -5 -10 -15 -20 Oct-14 Oct-15 Sources: CoreLogic, Westpac Economics Macro-prudential measures ♦rate cuts ◇rate hikes Oct-16 2019 election COVID-19 'Delta' Macro- prudential measures Economics Oct-17 Oct-18 Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Dwelling prices (% change over period) Westpac Economics dwelling price forecasts (annual %) Last 3 mths Capital city Pop'n (to Oct-22) Last 12 mths (Oct-22) Last 5 years (to Oct-22) Capital city Sydney Pop'n avg* 2020 2021 2022f 2023f 2024f 5.4m 6.3 2.7 25.3 -10 -8 1 Sydney 5.4m Down 5.3% Down 8.6% Up 9.7% Melbourne 5.1m 5.0 -1.3 15.1 -8 -10 1 Melbourne 5.1m Down 3.1% Down 5.6% Up 4.3% Brisbane 2.6m 4.9 3.6 27.4 2 -6 3 Brisbane 2.6m Down 5.4% Up 8.4% Up 36.0% Perth 2.1m 1.1 7.3 13.1 2 -4 3 Perth 2.1m Down 0.7% Up 4.0% Up 18.2% Australia 26m 54 5.1 1.8 20.9 -6 -8 2 Sources: CoreLogic, Westpac Economics average last 10yrs 114 Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack Sources: CoreLogic, Westpac Economics Westpac GROUP

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