Investor Presentaiton

WNZL Covered Bond Programme - Overview Issuer Group Guarantor Group Guarantor Rating Format Covered Bond Rating Programme Size Maturity Options Covered Bond Guarantor Covered Bond Guarantee LVR Cap in Asset Coverage Test Asset Percentage Collateral Programme Listing Westpac Securities NZ Limited, London Branch Westpac New Zealand Limited AA-/Aa3/AA- by S&P / Moody's / Fitch Legislative Covered Bond Aaa/AAA by Moody's / Fitch €5 billion Soft and Hard Bullet Westpac NZ Covered Bond Limited, a special purpose vehicle (SPV) Covered Bond Guarantor has guaranteed payments of interest and principal under the Covered Bonds secured over the Mortgage Loans and its other assets (Limited in recourse to its assets) 75% Subject to rating agency requirements, Programme maximum 90% New Zealand prime, first ranking residential mortgages London Stock Exchange Covered Bond Guarantor Governing Law New Zealand 35

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