Investor Presentaiton

NET INTEREST MARGIN BENEFITING FROM LOWER FUNDING COSTS NET INTEREST MARGIN (EX LARGE NOTABLE ITEMS) 21 1.79% 1.78% 0.02% 0.00% 0.02% (0.03%) 1.79% (0.02%) (0.03%) 1.74% Mar 20 Sep 20 Lending Margin Funding Costs Deposits Capital & Other Mar 21 Ex Markets & Treasury Higher Liquids Other Markets & Treasury Mar 21 KEY CONSIDERATIONS 2H21 NIM drag from low rate environment expected to be ~3bps1 but impact to moderate into FY22 CHANGING DEPOSIT MIX $274bn at or near 0% rate² ($bn) 468 476 447 425 59 72 80 54 Competitive pressures and housing lending product mix expected to remain as headwinds, along with higher liquids Lower funding costs and deposit mix expected to remain a modest tailwind in 2H21 211 236 261 280 160 $98bn replicating portfolio comprises $41bn of capital (2 year avg investment term) and $57bn of deposits (5 year avg investment term) (1) Estimated impact of previously announced RBA and RBNZ cash rate cuts on Group NIM, including the deposits impact, lower expected replicating portfolio benefits, and impact of announced repricing. Excludes the impact of any future cash rate movements. 2H21 impact consistent with expected FY21 impact of ~6bps (2) Includes $235bn in Australian customer deposits at or near 0% rate and NZ$42.5bn in New Zealand deposits at or near 0% rate Sep 19 152 Mar 20 135 Sep 20 116 Mar 21 ■Term Deposits ■Deposits Not Bearing Interest ■ On Demand and Savings Deposits National Australia Bank

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