Investor Presentaiton

Home Loan portfolio composition Regional profile (%) 30+ and 90+ delinquencies (%) -90+ dpd -30+ dpd 1.50% Auckland 1.25% ■Wellington 39 1.00% 45 Christchurch 0.75% 00 8 1 Other 0.50% Investor vs owner occupied (%) of new flows 100 41 44 75 44 50 59 61 56 25 0 FY14 FY15 FY16 2 Investor 39 2 Owner occupied 0.25% 0.00% FY 06 FY 07 270 FY 08 FY 09 99 FY 10 FY 11 FY 12 FY 13 FY 14 Aug-15 FY 15 1Q 16 1H 16 BQ 16 Jul-16 Aug-16 FY 16 Portfolio LVR distribution (%)³ 3.7 100 10.5 1.1 6.0 Greater than 90% 75 Between 80 - 90% 60 50 92.9 85.8 Less than 80% 25 0 Total Portfolio FY16 YTD flows 1.'Other' includes revolving credit loans (variable rate loans that allow the borrower to withdraw funds up to a limit) and capped loans (fixed interest rate for 1 year, changing to a floating rate if it drops below the fixed rate). 2. 'Investor' lending provided for the purchase of, and/or secured by, residential investment property. Residential investment property is property that is not owner-occupied, or for the owners' exclusive use (such as a holiday house). 'Owner Occupied' includes all other residentially secured lending not classified as an Investment Property Lending. 3. LVR based on balance and assessment of property value at origination 28

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