Financial Performance and Remediation Update

121 NEW ZEALAND HOUSING HOUSING MARKET VERY STRONG: PRICES KEEP GROWING THROUGH LOCKDOWN AS SALES VOLUMES FALL¹ (Index) House prices Dwelling sales transacted ('000s) 4500 4000 12 3500 Auckland 3000 2500 2000 National ex Auckland 1500 1000 500 M mmmyp 10 88 4 0 Sep 13 Sep 15 Sep 17 Sep 19 Sep 21 Sep 13 Sep 15 Sep 17 Sep 19 RESTRICTIONS ARE MODERATING PACE OF NEW LENDING² New residential mortgage lending ($NZ million) 9,000 Tax changes announced and LVR restrictions reinstated LVR tightening for investors in effect LVR tightening for owner occupiers announced 2 0 Sep 21 Consumer credit law changes 6,000 3,000 0 Dec 19 Jan 20 Feb 20 Owner-occupiers Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20 Investors (1) Source: Refinitiv, REINZ ཀྱིས (2) Source: RBNZ. Consumer credit law changes include changes to the Credit Contracts and Consumer Finance Act Oct 20 Nov 20 ૦૪૦૦૦ Jan 21 Feb 21 Mar 21 Apr 21 May 21 Jun 21 Jul 21 Aug 21 Sep 21 Oct 21 Nov 21 Dec 21 National Australia Bank

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