Investor Presentaiton

AUSTRALIA AND NEW ZEALAND ECONOMIC CONDITIONS REMAIN FAVOURABLE NAB BUSINESS CONDITIONS AND CONFIDENCE¹ (Index) 20 5 NON-MINING REAL GDP GROWTH ABOVE LONG RUN AVERAGE² (%) 10 wwww 4 3 0 2 1 -10 Sep 10 Sep 11 Sep 12 0 Sep 13 Sep 14 Sep 15 Sep 16 Jun 06 Business conditions -Business confidence AUSTRALIAN DWELLING COMPLETION V ANNUAL POPULATION GROWTH (000's)³ 500 400 300 200 100 0 1984 1988 1992 1996 2000 2004 2008 Under construction4 -Completions 2012 -Population 2016 (1) Australia only. Source: NAB (2) Australia only. Source: NAB, ABS (3) Source: NAB, ABS (4) 2016 dwellings under construction as at Q2 2016 (5) Per cent change, average for year ended December quarter on average of previous year 6 (6) Per cent, as at December quarter FY16 FINANCIALS GARY LENNON Chief Financial Officer Jun 10 Jun 12 Jun 14 Jun 08 -Non-mining real GDP growth Long-term average ECONOMIC OUTLOOK (%) Jun 16 CY15 CY16(f) CY17(f) Australia GDP growth5 2.4 3.0 2.8 Unemployment 5.8 5.7 5.6 NZ GDP growth5 2.5 3.4 3.1 Unemployment 5.0 5.0 5.1 MOCKREL HILL CKRE National Australia Bank National Australia Bank

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