Investor Presentaiton

1H21 fully franked dividend - 58 cps. Dividend considerations Dividends per ordinary share (cents) • Medium term outlook for return and growth 94 94 94 80 • Sustainable payout ratio ~60-65% • Dividend yield 4.8%1 Seek to neutralise DRP (arrange to purchase shares on market), no discount on DRP market price 58 COVID-19 31 1H18 2H18 1H19 2H19 1H20 2H20 1H21 Capital considerations Dividend payout ratio (%) • Well above APRA'S CET1 "unquestionably strong" capital ratio Historic payout (FY17 - FY19)² 1H21 • Announced sales - 32bps Will reset preferred CET1 operating range once capital rules finalised Cash earnings 83 60 Effective (after DRP) 67 60 Cash earnings (ex notable items)3 77 56 1 At 31 March closing price of $24.41. 2 Average payout ratio in each half over period. 3 References to notable items in this release include (after tax) provisions related to AUSTRAC proceedings; estimated customer refunds, costs and litigation; write- down of intangible items; and asset sales/revaluations. 12 Westpac Group 2021 Interim Results Presentation & Investor Discussion Pack Westpac GROUP

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