Investor Presentaiton

- Appendix 6: Sustainability – footnotes. Our commitment to sustainability. Sustainability 1. Figure is cumulative since 2020. New lending represents the total of new and increases in lending commitments, excluding refinances. Taking us to over $3.8 billion towards our target of $15 billion by 2030 and achieving our target of $3.5 billion from 2020 to 2023. Total exposure to climate change solutions is $10.8 billion (TCE at 30 September 2022). 2. Lending and investment to climate change solutions is defined as the total direct and indirect financing of customers to the extent they are a) Involved in climate change solutions activities reported in total committed exposures at 30 September; or b) Undertake activities that are over and above what is considered to be business as usual in the relevant industry, and which produce a material net benefit to the environment. For further information on our definition of climate change solutions and climate change solutions activities refer to the Glossary section in our 2022 Sustainability Index and Datasheet. 3. Westpac Scholars Trust (ABN 35 600 251 071) is administered by Westpac Scholars Limited (ABN 72 168 847 041) as trustee for the Westpac Scholars Trust. Westpac Scholars Trust is a private charitable trust and neither the Trust nor the Trustee are part of the Westpac Group. Westpac provides administrative support, skilled volunteering, and funding for operational costs of Westpac Scholars Trust. 4. Active scholars refers to the total number of individuals who have been awarded a scholarship and have completed or are in the process of completing their degree or fellowship. 5. Taskforce on Nature-related Financial Disclosures (TNFD). 6. Committed funding includes future payments for grants that span over multiple years. Our plan to become a net-zero, climate resilient bank. 1. Predominantly through a virtual power purchase agreement with Bomen Solar Farm in NSW and through other sources including Westpac rooftop solar and Large-Scale Generation Certificates sourced and retired on behalf of Westpac by Lendlease for Westpac's Barangaroo commercial office tenancy supply. 2. Certification is obtained for Westpac's Australian and New Zealand direct operations under the Australian Government's Climate Active Carbon Neutral Standard for Organisations and the New Zealand Toitū net carbonzero certification respectively. Further information can be found on the Sustainability Performance Reports page on our website. Net-zero, climate resilient operations. 1. Excluding financed emissions. 2. Certification is obtained for Westpac's Australian and New Zealand direct operations under the Australian Government's Climate Active Carbon Neutral Standard for Organisations and the New Zealand Toitu net carbonzero certification respectively. Further information can be found on the Sustainability Performance Reports page on our website. 3. Predominantly through a virtual power purchase agreement with Bomen Solar Farm in NSW and through other sources including Westpac rooftop solar and Large-Scale Generation Certificates sourced and retired on behalf of Westpac by Lendlease for Westpac's Barangaroo commercial office tenancy supply. 4. Greenhouse gas (GHG). 5. 2022 figures include direct operations in Australia, New Zealand, Fiji, Papua New Guinea, Singapore, United Kingdom, China, Germany and the United States. Reporting boundary expanded since 2021 to include Singapore, China, Germany and the United States. 6. Update reflects change in baseline year from 2016 to 2021 only to align with our 2030 sector lending targets baseline. No change to level of ambition. This target is aligned with a 1.5°C pathway. 7. Revised Scope 3 supply chain (non-financed) emissions reduction target reflects change in baseline year from 2016 to 2021 and increase in ambition from a 'well-below 2°C degree' pathway to a 1.5°C pathway. Supporting customers' transition to net-zero. 1. Over the period 1 October 2017 to 30 September 2022. Based on IJGlobal and Westpac Research data. 2. Figure is FY22 result. New lending represents the total of new and increases in lending commitments, excluding refinances. Taking us to over $3.8 billion towards our target of $15 billion by 2030 and achieving our target of $3.5 billion from 2020 to 2023. Total exposure to climate change solutions is $10.8 billion (TCE at 30 September 2022). 3. Lending and investment to climate change solutions is defined as the total direct and indirect financing of customers to the extent they are a) Involved in climate change solutions activities reported in total committed exposures at 30 September; or b) Undertake activities that are over and above what is considered to be business as usual in the relevant industry, and which produce a material net benefit to the environment. For further information on our definition of climate change solutions and climate change solutions activities refer to the Glossary section in our 2022 Sustainability Index and Datasheet. 4. WIB and WNZL customers only across multiple currencies and jurisdictions; Sustainable finance transactions include green, social, sustainability, sustainability-linked and re-linked loans and bonds; Total value of Sustainable Financing provided by banks at financial close. This includes the full value of a loan provided and also includes the full value of bond issued for any Debt Capital Markets (DCM) transaction where Westpac is a Joint Lead Manager (JLM). 5. Westpac New Zealand (WNZL) was Sole Sustainability Coordinator for six Sustainability-Linked Loans and Joint Sustainability Coordinator for one Sustainability-Linked Loan. Overall, New Zealand borrowers executed NZD3.98bn of Sustainability-Linked Loans, of which approximately a quarter (NZD0.94bn) sits on WNZL's Balance Sheet (this includes all known or publicly disclosed transactions to 30 September 2022). 6. Acting as Joint Sustainability Coordinator and Lead Arranger. Based on publicly announced transactions in Australia to 12 September 2022. For more information, refer to the media release at https://www.westpac.com.au/about-westpac/media/media-releases/2022/12-september1/ . 7. Westpac will start to roll-out the carbon tracking capability to select retail customers from 2023. 8. The loan is the first of its kind to require a customer to meet all parts of the Sustainable Agriculture Finance Initiative (SAFI) guidance. This guidance includes practices to reduce emissions and improve long-term climate resilience. 9. Westpac believes reducing emissions should be a priority in achieving the transition to net-zero. Carbon offsets and credits are likely to play a role to supplement decarbonisation in line with climate science where there are limited technological or financially viable alternatives to eliminate emissions. The information on this page contains 'forward-looking statements' and statements of expectation reflecting Westpac's current views on future events. They are subject to change without notice and certain risks, uncertainties and assumptions which are, in many instances, beyond its control. Please refer to the disclaimer at the back of this presentation. 132 Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack Westpac GROUP