Investor Presentaiton

RBA tightening cycle to continue. Labour market remains key risk to policy. CPI inflation (%) % Core CPI, %qtr Job vacancies (% of labour force) and Unemployment rate (%) Core CPI, avg RBA %yr 7 9816543210 -1 Sep-06 Sep-10 Sources: ABS, RBA, Westpac Economics Wages (%) ann% 5 4 Headline CPI %yr Westpac f'casts to Dec -23 Sep-14 Sep-18 Westpac f'casts to Dec-23 RBA's 3 target: >3% ann% Economics 1896543210 % 3.5 3.0 Vacancies* (ABS survey), Ihs -Unemployment rate, rhs %^ -3 ^ scale reversed 2.5 13 2.0 1.5 59 7 1.0 9 0.5 ABS survey suspended between May '08 & Nov '09 11 -1 0.0 Sep-22 Mar-89 Mar-97 Mar-05 Mar-13 Mar-21 Sources: ABS, Westpac Economics Dwelling & energy prices (% contribution to CPI) %yr ■Auto fuel 8 Electricity & gas 6 ■Dwellings & rent ■Household goods st 4 ■Household services 2 Australia's household debt servicing ratio² (%) terminal Westpac f'casts 22 % % 22 20 Westpac fcasts cash rate: to Dec-23 4.5% 22 22 20 4.0% 188 18 3.85% 16 16 14 12 10 14 2 0 12 1 1 -2 T 10 Jun-97 Jun-02 Jun-07 Jun-12 Jun-17 Jun-22 Sources: ABS, Westpac Economics Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Sources: ABS, Westpac Economics Sep-02 Sep-07 Sep-12 Sep-17 Sep-22 Sources: RBA, ABS, Westpac Economics 1 'G7' is GDP-weighted avg of US, EU, Japan, UK and Canada. Based on 1yr ahead expectations where available. 2 Mortgage repayments, owner occupied loans as % of household disposable income of owner occupiers. 111 Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack Westpac GROUP

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