Investor Presentaiton

Transformation investment Ongoing investment to deliver transformation roadmap Investment spend ($m) 331 81 212 78 145 13 49 45 172 150 100 BOQ GROUP Summary > Overall investment increased primarily due to integration costs in the period > Material capital investment in FY22 focused on new cloud digital retail banking platform and key foundational components of the Data Platform and Open Banking > Velocity and cost of digital bank delivery is improving with each additional phase > Assets of the combined entity have an average useful life of 6.3yrs, with an average remaining life of 3.0yrs › Amortisation is anticipated to increase in FY23 as assets under construction complete Software intangible asset balances ($m) 379 172 133 FY201 FY21 FY22 246 ■Capitalised Expensed Integration FY21 Software Investment Note: Integration costs are not included in cash earnings 439 (66) (46) 176 263 Amortisation 2 Software intangible assets balance Revised Accounting Policy 3 Assets under construction FY22 (1) FY20 does not include ME Bank, all other comparative periods prior to FY22 are on a pro forma basis Amortisation has decreased by c.$14m and project expenses have increased by c.$14m as a result of the SaaS accounting changes (3) Revised accounting policy in relation to the SaaS changes. Refer to Financial statements for further detail (2) BANK OF QUEENSLAND LIMITED 2022 Full Year Results Presentation 35

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