PitchSend

Investor Presentaiton

1H21 cash earnings. 1H21 Change 1H21- 2H20 Change 1H21- 1H20 Cash earnings 1H21 - 2H20 ($m) ($m) (%) (%) Increased merchant revenue and higher wealth income Net interest 8,469 1% (2%) income AIEA down 2% partly offset by a 3bp increase in NIM Non-interest 2,330 25% 39% income Results Lower restructuring expenses, some COVID-19 expenses and timing of project spend partly offset by increased FTE for risk, compliance and volumes Impairment benefit from improved economic outlook and improved credit quality 1,312 (348) 3,819 (282) 3,537 1,220 2,835 (59) 58 21 Expenses (5,981) (9%) (3%) 1,615 Up 35% ex-notable items Core earnings 4,818 29% 15% Up 119% 2H20 Impairment 372 Large Large Add back notable items 2H20 ex- notable items Net interest Non-interest Expenses Impairment Tax & NCI income income charges 1H21 ex- notable items Notable items 1H21 benefit Tax and non- controlling (1,653) 39% 74% interests (NCI) Cash earnings 3,537 119% 256% Add back notable items (after tax) Cash earnings 1H21 - 1H20 ($m) 4,548 increase in FTE to support higher mortgage volumes, risk and compliance programs and COVID-19 related activities NIM down 9bps mostly from higher liquid assets and the low interest rate environment Impairment benefit from improved economic outlook and increased recoveries and write-backs 2,610 (532) 3,819 (282) 3,537 282 (77%) (80%) 1,399 2,392 (374) 55 (332) Cash earnings ex-notable items 3,819 35% 60% 993 Up 60% ex-notable items Reported net profit Up 256% 3,443 213% 189% 1H20 Add back notable items 1H20 ex- notable items income Net interest Non-interest Expenses Impairment Tax & NCI income charges 1H21 ex- notable Notable items 1H21 items 36 Westpac Group 2021 Interim Results Presentation & Investor Discussion Pack Westpac GROUP

View entire presentation