Investor Presentaiton

Targets set for five sectors in our lending portfolio. Sector targets in line with our NZBA commitment. Sustainability For details on our targets and target-setting approach refer to our 'Net-Zero 2030 Targets and Financed Emissions - our methodology and approach'. We continue to integrate and operationalise our targets into our processes and lending decisions. Sector Extractives - Upstream oil and gas² 2030 Financed Emissions Reduction Target¹ 23% reduction in Scope 1, 2 and 3 absolute financed emissions by 2030 (relative to 2021 baseline) We have updated our upstream oil and gas position to support this target Our position provides • We will only consider directly financing greenfield oil and gas projects that are in accordance with the IEA NZE scenario³ or where necessary for national energy security4 We will continue to provide corporate lending where the customer has a credible transition plan in place by 2025 We will work with customers to support their development of credible transition plans prior to 2025 FY21 Baseline 7.5 MtCO2-e (absolute financed emissions) Extractives - Thermal coal mining6 Zero lending exposure to companies with >5% of their revenue coming directly from thermal coal mining by 2030 $216.7m (TCE at 30 Sep 2021) Power generation? Industrials - Cement production³ 0.10 tCO2-e/MWh for Scope 1 and 2 emissions intensity by 2030 0.57 tCO2-e/tonne of cement for Scope 1 and 2 emissions intensity by 2030 0.26 tCO2-e/MWh (emissions intensity) 0.66 tCO2-e/tonne cement (emissions intensity) Australian commercial real estate (large customers with office properties)⁹ Note: See footnotes on page 133. 62% reduction in Scope 1 and 2 emissions 10 intensity (kg CO2-e/m² net lettable area) by 2030 (relative to a 2021 baseline) for Australian large customers with office properties Baseline and progress to be disclosed in FY23 The information on this page contains 'forward-looking statements' and statements of expectation reflecting Westpac's current views on future events. They are subject to change without notice and certain risks, uncertainties and assumptions which are, in many instances, beyond its control. Please refer to the disclaimer at the back of this presentation. 54 Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack Westpac GROUP

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