Financial Performance and Remediation Update

REINVESTING SAVINGS FOR GROWTH OPERATING EXPENSES (EX LARGE NOTABLE ITEMS)¹ ($m) 7,679 (411) 138 99 YoY growth 1.8% Investment related (207) 364 42 113 Mainly relates to non- recurrence of FY20 restructuring related costs and lower consulting spend 7,817 FY20 Productivity savings Remuneration and inflation Technology and investment Depreciation and Amortisation Growth hires Performance based compensation Other FY21 INVESTMENT SPEND ($m) 55% Opex 696 655 749 COMMENTS Cost growth of 1.8% consistent with FY21 target of 0-2% 510 137 107 229 • Targeting broadly flat costs in FY222 248 270 156 226 177 311 278 294 177 Mar 20 Sep 20 Mar 21 Sep 21 FY22 investment spend expected to be broadly flat Continue to target FY23-25 costs to be lower than $7.7bn² ■Infrastructure ■Compliance and risk ■Customer experience (1) Refers to large notable items in FY20. No notable items in FY21 (2) Excluding large notable items, the impact of proposed acquisition of Citigroup's Australian consumer business and any potential non-recurring AML/KYC related costs including those incurred in addressing the issues subject to investigation by AUSTRAC, such as file remediation and other associated costs. Refer to key risks, qualifications and assumptions in relation to forward looking statements on page 127 24 24 National Australia Bank

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