Investor Presentaiton

Provisions for expected credit loss. Key ratios Sep-21 Mar-22 Sep-22 Provisions to gross loans (bps) 70 65 62 Stage 3 CAP ■Stage 1 CAP ■ Stage 3 IAP Total provisions for expected credit losses1 ($m) ■Overlay ■Stage 2 CAP Impaired asset provisions to impaired assets (%) 54 48 48 COVID-19 6,159 Collectively assessed provisions to credit RWA (bps) 117 116 116 708 Expected credit loss¹ (ECL) ($m) $1.6bn in provisions above the base case economic scenario 4,625 2,983 Credit quality 6,680 3,922 171 4,999 Overlays reduced 1,032 4,675 4,625 as some factors 647 now reflected in modelled 700 1,136 provision 788 outcomes 841 818 2,247 791 1,601 Reported probability-weighted ECL 100% base case ECL 100% downside ECL 1,578 1,685 1,258 Higher stage 2 reflecting changes in modelled provision outcomes Base case Downside Forecasts for base case economic scenario² Trough/ 1,561 1,131 2022 2023 peak³ 989 943 947 Small decrease, GDP growth 3.4% 1.0% (6%) mainly in institutional 832 Unemployment Residential property prices 3.1% (6.5%) 4.4% (7.8%) 11% 611 412 501 452 exposures (27%) Sep-19 Sep-20 Sep-21 Mar-22 Sep-22 1 Excludes provisions for debt securities. 2 Forecast date is 19 September 2022. 3 These KEls represent trough or peak values that characterise the scenarios considered in setting downside severity. 70 Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack Westpac GROUP

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