Investor Presentaiton

Housing, business lending and deposits outlook¹ BOQ GROUP Housing outlook › Unemployment low at c.3.5% in calendar 2023 and likely to stay low › Consumer confidence has taken a hit from the rise in the cost of living and higher interest rates › Consumers remain confident about the labour market and are likely to benefit from faster wage growth › Consumers have accumulated significant savings > Rising interest rates and affordability concerns will see a peak-to-trough decline in house prices of around 16% in this cycle > House prices forecast to drop by c.9% in 2023 > Housing credit is projected to grow by around 3.5% this financial year² Business lending outlook › Business order books and capex intentions are currently elevated › Consumer spending is above pre-COVID levels > High input costs are an issue for many firms > Labour remain the biggest constraint although supply-chain problems are slowly being resolved > Strong outlook for agri given high commodity prices › Business credit is expected to grow by around 6.5% in the 2023 financial year Deposits outlook › System deposit growth was elevated over COVID-19 > Deposit growth will likely slow reflecting the end of government COVID income support, negative real wages growth and greater spending opportunities from the re-opening of the economy > An important offset may be that the uncertain economic and financial market environment as well as higher interest rates will lead to a shift in the composition of saving towards deposits > Deposit growth is expected to grow by around 5% in the 2023 financial year BANK OF QUEENSLAND LIMITED 2022 Full Year Results Presentation (1) BOQ house view (2) BOQ financial year to August 2023 80 60

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