Investor Presentaiton

Regulatory capital changes. Implementation Change Details • Progressive implementation from 1 January 2022 to 1 July 2028 Capital, funding and liquidity Current and finalised by RBNZ Capital Review 1 Jul 2028 1 Jan 2023 1 Jan 2024 1 Jan 2023 APRA's revisions to the ADI capital framework CPS 190 Financial Contingency Planning CPS 900 Resolution Planning Leverage ratio 1 Jan 2024 and 1 Jan 2026 Loss Absorbing Capacity (LAC) 1 Jan 2024 1 Jan 2025 APS117 - IRRBB APS116 - Market Risk IRB banks (including WNZL) subject to an 85% output floor of RWA required under the standardised approach applicable from 1 January 2022 and an increased IRB scalar of 1.2 (from 1.06) effective 1 October 2022 D-SIB Total capital requirements increasing to 18% by 1 July 2028. Includes Tier 1 capital requirement of 16% of which 13.5% must be CET1 capital Existing capital instruments that contain contractual non-viability triggers are no longer fully eligible as capital, with the qualifying amount being phased-out over the implementation timeline APRA's final capital standard includes • Increasing the CET1 capital requirement for D-SIBS from 8.0% to 10.25% through higher regulatory buffers, capital conservation buffer (to 4.75% from 3.5%)¹ and base level countercyclical capital buffer of 1.0% Adjustments to RWA calculations for certain assets (residential mortgages, non-retail lending) Implementing a 72.5% output floor to limit the capital benefit for Advanced ADIs relative to Standardised ADIS RWA for New Zealand subsidiaries to be determined under RBNZ rules at the consolidated group level APRA has released two draft prudential standards for consultation for banks to Develop plans to respond to financial stress Prepare for resolution with limited adverse impacts on the community and financial system, in the event of their failure Proposed minimum 3.5%. At 30 September 2022, our leverage ratio was 5.6% APRA requires D-SIBS to lift the total capital ratio by 4.5% of RWA, comprising 3% by 1 January 2024 and by a further 1.5% by 1 January 2026, to a minimum total capital ratio of for D-SIBSs of 18.25% At 30 September 2022 our Tier 2 capital ratio was 5.0% and our total capital ratio was 18.4%. Any additional total capital required is expected to be met through additional Tier 2 capital, likely to be offset by a decrease in long-term wholesale funding Non-traded: standardising aspects of the calculation of IRRBB capital to reduce volatility over time and variation between ADIS Traded: APRA is yet to commence consultation on Fundamental Review of the Trading Book 1 Includes 1% D-SIB buffer. 90 Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack Westpac GROUP

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