Investor Presentaiton

Operating expenses Productivity and synergy benefits offsetting increased expenses from volume growth and investment spend BOQ GROUP Operating expenses ($m) 26 933 20 20 (30) +0% (29) (9) Productivity and synergies more than offsetting volume growth and inflation resulting in expense reduction of $22m (2%) · 1 · 25 937 25 FY21 Volume growth and technology Inflation & Productivity Other 1 Synergies Investment Amortisation² FY22 Run the bank Investment Productivity and Synergies FY23 considerations > Spot FTE reduction of 8% in FY22 providing ongoing benefits > Headwinds from inflation pressures and regulation impacting the banking industry > Normalised discretionary spend post COVID-19 > Further synergy benefits with integration on track Maintenance of legacy core banking platform during development of new digital bank > Note: All comparative periods prior to FY22 are on a pro forma basis (1) Includes share based rem, occupancy, training and insurance. Neutral impact from accounting policy alignment including reclassification of interchange fees offset by inclusion of acquisition costs not previously reported in expenses BANK OF QUEENSLAND LIMITED 2022 Full Year Results Presentation (2) Amortisation was reduced by c.$14m and investment propex increased by c.$14m as a result of the SaaS accounting policy change in FY21 34

View entire presentation