Investor Presentaiton

1H23 Considerations.1 Net interest income • Non-interest income Expenses . Credit quality Reporting simplification . • System credit growth expected to slow - targeting growth around major bank system Exit margin² excl. Tsy & Markets for Sept 2022 -1.85% Headwinds on margin with pressure from competition and higher wholesale funding costs Full period impact of business exits (FY22 impact $135m) Markets income difficult to predict 1H23 costs (ex notable items) expected to be 0% - 2% lower Regulatory/compliance costs expected to remain elevated FY24 cost target revised to $8.6bn³ Expect some deterioration in credit metrics Well provisioned and positioned for changing environment Stop reporting cash earnings – statutory profit only Changing the way we manage hedges to reduce the impact of fair value adjustments Will continue to disclose large and infrequent items 1 The information on this page contains 'forward-looking statements' and statements of expectation reflecting Westpac's current views on future events. They are subject to change without notice and certain risks, uncertainties and assumptions which are, in many instances, beyond its control. They have been based upon management's expectations and beliefs concerning future developments and their potential effect on Westpac. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied in such statements. Investors should not place undue reliance on forward-looking statements and statements of expectation. Except as required by law, Westpac is not responsible for updating, or obliged to update, any matter arising after the date of this presentation. The information in this page is subject to the information in Westpac's ASX filings, including in its 2022 Full Year Financial Results and elsewhere in this presentation. 2 Exit margin is net interest margin excluding Treasury and Markets for the month of September 2022. 3 Subject to exclusions and assumptions outlined on page 14. 32 Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack Westpac GROUP

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