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Investor Presentaiton

MACRO ECONOMIC ENVIRONMENT ECONOMIC ENVIRONMENT IMPROVING, BUT SIGNIFICANT UNCERTAINTY REMAINS BOQD GROUP MACRO ECONOMIC Economy is improving although the recovery is likely to be bumpy with uncertain strength Greatest uncertainty remains the health crisis, and that is unlikely to be resolved until vaccine or effective treatment is found Government and regulatory response has significantly cushioned the decline Balance sheet strength of Government, RBA and the Banks remains a significant positive CONSUMER • • Consumer and business confidence is improving Peak of the unemployment rate likely to be in 2020 Household incomes significantly aided by forthcoming tax cuts, Government programs and interest payment holidays. House price decline has not been as significant as feared, although positive growth not expected until 2H21. Bank of Queensland Limited 2020 Full Year Results Presentation BUSINESS • • . This recession has hit most service sectors hard Government programs have also aided many firms Some business models will not survive the downturn SMEs should benefit from Budget announcements Agribusiness is doing well 73
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