Investor Presentaiton

CAPITAL STRONG CAPITAL POSITION ENABLING GROWTH AND TRANSFORMATION BOQD GROUP SUMMARY • Successfully completed $1.35bn capital raise to fund the acquisition of ME Bank² • 37bps of capital utilised in 2H21 to deliver above system asset growth, with 31bps of RWA growth and 6bps from increased loan origination costs • Benefit of 7bps from collective provision release • CET1 remains strong at 9.80%, and in FY22 expected to remain comfortably above the top end of the target range of 9 - 9.5%¹ CET11H21 TO 2H21 CET1 FY20 TO FY21 9.78% - 0.86% (0.40%) (0.09%) 0.07% (0.33%) (0.04%) (0.16%) 0.11% 9.80% FY20 FY21 cash NPAT RWA growth Loan costs Collective origincation provision release Dividend net Securitisation of DRP impact Net CAPEX Other items FY21 For personal use only 10.03% 0.49% (0.31%) (0.06%) 0.07% (0.22%) (0.02%) (0.12%) Underlying capital utilisation of -3bps (0.06%) 9.80% 1H21 2H21 Cash NPAT RWA growth Loan origination costs Collective provision release³ Dividend net of DRP Securitisation impact Net CAPEX Other items FY21 (1) BOQ intends to operate above the management target range of 9.0 - 9.5% in FY22 until the final impacts of APRA's changes to RWAS and capital calibration are understood. Refer to page 54 in the ME Bank acquisition investor presentation for further detail. (2) Proceeds from the capital raising were received in March 2021 and fully funded the capital impacts of the ME Bank acquisition Bank of Queensland Limited 2021 Full Year Results Presentation (3) Collective provision release refers to a $45m pre-tax adjustment due to improved economic conditions 27

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