1H24 Financial Results

Group margin - 12 months Continued competitive pressures and higher funding costs, partly offset by hedging returns 210 Continued competitive pressures . Benefit of rising rates more than offset by: • Increased deposit price competition Deposit switching Higher earnings on replicating portfolio • Increased wholesale funding costs and capital (7) (10) (11bpts) 6 199 bpts 1H23 Asset pricing Funding costs Other incl. replicating 1H24 portfolio, capital and NZ 69

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