Investor Presentaiton

ACQUISITION OF CITIGROUP'S AUSTRALIAN CONSUMER BUSINESS • . - NAB has agreed to acquire the assets and liabilities of Citigroup's Australian consumer business (the Target Business) Supports NAB's strategic ambition to build a leading personal bank with a simpler, more digital customer experience The business to be acquired is aligned to our core personal banking proposition with 1.4m customers, $7.9bn of home loans, $4.3bn of unsecured lending receivables and $9.0bn of deposits Total purchase consideration to be based on net assets at completion plus a premium of $250m Equity required for NAB of $1.2bn based on incremental RWA¹ and premium Estimated CET1 impact of 32bps on completion. Proforma CET1 as at 31 March 2021 of 11.83%² remains above our target CET1 of 10.75% -11.25% 2 • - Estimated $220m capital to be released (~5bps) upon achieving A-IRB status (approx. 3 years post completion) Estimated pre-tax acquisition and integration costs of $375m, with the majority to be incurred in FY22 and FY23 Attractive valuation - Target Business underlying earnings of ~$330m and cash NPAT of ~$145m for the year to June 20213 Represents 8x pro forma NPAT of the Target Business Expected to be marginally Cash EPS and Cash ROE accretive from completion Targeting pre-tax cost synergies of ~$130m p.a. within 3 years Subject to regulatory approvals, including APRA, ACCC and Treasurer, targeting completion by March 2022 1. - 23 Estimated RWA impact of $8.9 billion includes CRWA based on loan balances as at 30 June 2021 Based on the pro forma CET1 of 12.15% provided with the announcement of the $2.5 billion on-market buy-back on 30 July 2021 less the impact of the Proposed Acquisition (-0.32%) Pro forma financial impact of Target Business based on estimated income and operating expenses for Target Business. Assumes credit impairment charges of ~2.7% on unsecured lending portfolio, consistent with average charges observed on NAB unsecured lending portfolio from 2008 to 2020 National Australia Bank

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