WESTPAC 1Q21 UPDATE DISCUSSION PACK

1Q21
Update
Fix. Simplify. Perform.
FOR THE 3 MONTHS ENDED 31 DECEMBER 2020
WESTPAC BANKING CORPORATION
ABN 33 007 457 141
Financial results throughout this presentation are in Australian dollars and are
based on cash earnings unless otherwise stated. Refer to the 2020 Full Year
Financial Results Presentation and Investor Discussion Pack for definition. All
results relating to 1Q21 are on an unaudited basis. This document should be
read in conjunction with Westpac’s December 2020 Pillar 3 Report, incorporating
the requirements of APS330. Results principally cover and compare the 1Q21
and 2H20 quarterly average periods unless otherwise stated.

Good progress on our strategic priorities.
Westpac Group 1Q21 Update
Delivered in 1Q21.
Fix, Simplify, Perform
2
Simplify
Fix
Perform
• Comprehensive risk program
underway including responding to
APRA’s Enforceable Undertaking
(EU)
‒On track to deliver EU plan
‒Expanding CORE program to
cover both financial and non-
financial risks
• Progressing customer remediation,
paid $105m to around 548k
customers in 1Q21
• ASIC announced no further action
on AUSTRAC matters following
completion of its investigation
• Announced sale of:
‒Westpac General Insurance
‒Westpac Pacific
• Ended master relationship
agreement with IOOF
• Sale of NZ Wealth advisory
• Good progress on WIB
international consolidation
• 300 of 1,000 offshore roles
returned to Australia
• New Executive Team in place
• Improved mortgage momentum
‒Average weekly applications up
24% from 4Q20 and up 34%
from 1Q20
• Progressing cost reduction actions
with Cost Reset plan to be
announced at 1H21
2

($m)
2H20 Qtr
Avg.1Q21 % Change
Net interest income4,2104,2471%
Non-interest income9339866%
Expenses(3,270)(2,827)(14%)
Core earnings1,8732,40628%
Impairment
(charges)/benefit
(470)501Large
Tax and non-controlling
interests
(595)(936)57%
Cash earnings8081,971144%
Net profit5501,704210%
•1Q21 notable items $254m, compared to $641m 2H20 quarterly average
•Excluding notable items, expenses down 2% mostly from timing of project spend
Unaudited 1Q21 results including notables.
1
1 Performance comparison is 1Q21 compared to 2H20 quarterly average unless otherwise stated. 2 AIEA is average interest-earning assets. Comparison is against 2H20 AIEA.
Performance
Westpac Group 1Q21 Update3
•AIEA
2
down 1% from lower lending balances
•1Q21 margin 2.06%, 2H20 2.03% (2H20 2.04% excluding notable items). Higher
contribution from Treasury (+1bp), lower funding costs and higher deposit spreads
partly offset by lower asset spreads, mostly in mortgages
•Impairment benefit from improved economic outlook and improved asset quality.
Refer to slides 6 - 9 for more detail
•1Q21 impairment charge, pre other collectively assessed provision movements
was $134m compared to 2H20 quarterly average of $287m
•Cash earnings adjustments $267m, primarily from unrealised losses on economic
hedges on US$ term funding from the appreciation of the A$ against the US$
•Good 1Q21 unlikely to be replicated through the rest of FY21 given that margins
remain under pressure and investment spending is likely to increase though 2021
•Impairment charges to reflect credit quality and economic outlook
•Non-interest income up 6% (up 1% excluding notable items)
•Tax expense higher from higher earnings. 1Q21 average tax rate 32.2% compared
to 42.4% 2H20
•Core earnings up 28% (up 3% excluding notable items)

Unaudited 1Q21 Cash Earnings excluding notable items.
Category
Cash earnings
impact in 1Q21 Detail
1. Refunds, payments,
costs and litigation
($56m)•Costs associated with ending IOOF
relationship
2. Write-down of
intangibles
($84m)•Write-down of goodwill in LMI as business
now held for sale
3. Asset sales &
revaluations
($72m)•Accounting loss on sale of Westpac Pacific,
sold at a discount to book value (recorded
loss), potential earn-out payments over the
next 24 months not included
•Partially offset by gain on sale in Zip Co
Limited
Total($212m)
Westpac Group 1Q21 Update4
Performance
($m)
2H20 Qtr
Avg.1Q21 % Change
Net interest income4,2294,247-
Non-interest income9509611%
Expenses(2,629)(2,573)(2%)
Core earnings2,5502,6353%
Impairment
(charges)/benefit
(470)501Large
Tax and non-controlling
interests
(662)(953)44%
Cash earnings ex.
notable items
1,4182,18354%
$m2H20 QtrAvg.1Q21
Net interest income(19)-
Non-interest income(17)25
Expenses(641)(254)
Tax and non-controlling interests6717
Cash earnings impact of notable items(610)(212)
Impact of notable items
Notable items

0.67
0.58
0.44
0.27
0.20
0.22
0.15
0.14
0.17
0.20
0.26
0.21
0.46
0.35
0.31
0.26
0.25
0.33
0.34
0.39
0.48
0.50
0.80
0.75
2.07
1.24
0.85
0.71
0.54
0.65
0.56
0.55
0.55
0.62
0.85
0.80
3.20
2.17
1.60
1.24
0.99
1.20
1.05
1.08
1.20
1.32
1.91
1.76
Sep-10Sep-12Sep-13Sep-14Sep-15Sep-16Sep-17Sep-18Sep-19
Mar-20
Sep-20
Dec-20
Impaired
90+ day past due (dpd) and not impaired
Watchlist & substandard
Credit quality showing improvement.
Westpac Group 1Q21 Update5
1 Facilities 90 days or more past due date not impaired. These facilities, while in default, are not treated as impaired for accounting purposes.
Stressed exposures as a % of TCE
Credit quality
1

Asset quality improved across most sectors.
6
Corporate and business stressed exposures by industry sector ($bn)
1 Services includes education, health & community services, cultural & recreational services and personal & other services.
Westpac Group 1Q21 Update
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
Property
Wholesale &
retail trade
Accommodation, cafes
& restaurants
Agriculture, forestry &
fishing
Property &
business services
Manufacturing
Services
Construction
Transport & storage
Mining
Finance & insurance
Utilities
Mar-20Sep-20Dec-20
Stress to TCE by sector
SectorProperty
Wholesale &
retail trade
Accomm.,
cafes &
restaurants
Agriculture,
forestry& fishing
Property &
business
services
ManufacturingServices
1
Construction
Transport&
storage
Mining
Finance &
Insurance
Utilities
Sep-20 (%)2.86.216.06.65.1 3.54.05.83.12.30.20.2
Dec-20 (%)2.95.714.56.14.83.33.55.53.02.50.20.2
Credit quality

Westpac Group 1Q21 Update
1 Delinquency metrics excludes deferral packages.
7
Mortgage portfolio
1
Unsecured lending portfolio
1
Credit quality
Mar-20Sep-20Dec-20
Australian mortgage portfolio ($)446bn441bn439bn
30+ day delinquencies (bps)188214198
90+ day delinquencies (bps)94162146
Annualised mortgage loss rate of 3bps, unchanged from Sep-20 and Mar-20. Fall in
90+ day delinquencies over quarter, as serviceability requirement (6 months) ended
for borrowers previously in hardship. Delinquencies in Australia and New Zealand
are expected to rise over FY21 as some customers will exit deferral packages and
move to hardship arrangements
Mar-20Sep-20Dec-20
Australian unsecured lending portfolio ($)18.4bn15.7bn15.5bn
30+ day delinquencies(bps)422362363
90+ day delinquencies(bps)197209199
Unsecured lending 90+ day delinquencies (%)
90+ day delinquencies down 10bps over the quarter, reflecting 12bps in portfolio
improvement, offset by 2bps increase from balance sheet contraction
Mortgage 90+ day delinquencies (%)
1.46
0.0
1.0
2.0
3.0
Jun-18Dec-18Jun-19Dec-19Jun-20Dec-20
Australian consumer portfolio.
1.99
0.0
1.0
2.0
3.0
Jun-18Dec-18Jun-19Dec-19Jun-20Dec-20

0.88
1.65
0.0
1.0
2.0
3.0
Jun-18Dec-18Jun-19Dec-19Jun-20Dec-20
90+ day past due (ex-hardship)
90+ day past due
0.14
0.34
0.0
1.0
2.0
3.0
Jun-18Dec-18Jun-19Dec-19Jun-20Dec-20
90+ day past due (ex-hardship)
90+ day past due
New Zealand asset quality.
Westpac Group 1Q21 Update
Mortgage 90+ day delinquencies
1,2
(%)Unsecured consumer 90+ day delinquencies
1,2
(%)
Business stressed exposures as a % of New Zealand business TCE
1 In May 2019 we made changes to the reporting of customers in hardship to align to the method used by APRA. 2 Delinquency metrics excludes deferral packages. 3Facilities 90 days or more past due date not impaired. These facilities, while in
default, are not treated as impaired for accounting purposes.
8
Introduction of changes
to the reporting of
hardship
Credit quality
1.5
0.9
0.8
0.5
0.30.3
0.1
0.30.3
0.2
0.2
0.1
0.2
0.0
0.1
0.0
0.1
0.10.1
0.2
3.2
2.3
2.4
5.0
4.0
3.0
2.92.5
2.22.2
4.9
3.3
3.4
5.5
4.4
3.3
3.1
2.9
2.6 2.6
Sep-13Sep-14Sep-15Sep-16Sep-17Sep-18Sep-19Mar-20Sep-20Dec-20
Watchlist & substandard90+ day past due and not impairedImpaired
16
9
47
5
4
19
Property
Manufacturing
Agriculture, forestry
& fishing
Wholesale trade
Construction
Other
Introduction of changes
to the reporting of
hardship
3

Provisions reflect stronger economic performance and outlook.
Westpac Group 1Q21 Update
Expected credit loss provisions
1
($m)
No change to scenario weightings.
Provisioning
9
September 2020December 2020
202020212022202020212022
GDP growth(3.5%)2.5%2.7%(2.0%)4.0%3.0%
Unemployment7.8%7.5%6.7%6.9%6.0%5.2%
Residential property prices(5.3%)(0.4%)7.5%(2.6%)4.0%10.0%
Forecasts for base case economic scenario in provision models
2
Sep-20Dec-20
Loan provision to gross loans (bps)8879
Impaired asset provisions to
impaired assets (%)
4146
Collective provisions to credit RWA
(bps)
154140
Total provisions to credit RWA
(bps)
171158
Provisions and coverage
1 CAP is collectively assessed provisions. 2 GDP and Residential property price growth is annual growth to December each year. Unemployment rate forecast is as at December each year.
•Improving economic outlook
contributed 55% of the reduction in
provisions, with the balance driven by
improvement in the underlying portfolio
and portfolio contraction
•No change to scenario weightings
Commentary
412
606
611
594
943
1,051
1,561
1,448
1,578
2,317
2,247
1,899
818
1,019
1,032
879
171
795
708
710
3,922
5,788
6,159
5,530
Sep-19Mar-20Sep-20Dec-20
Overlay
Stage 1 CAP
Stage 2 CAP
Stage 3 CAP
Individually assessed provisions (Stage 3)

4
19
76
Total deferrals at
31 Jan 21 (%)
Returned to
repayment
Active
deferrals
Restructured
or hardship
100
Australiandeferrals.
Westpac Group 1Q21 Update10
Mortgages
1
Small business
1
Deferral packages($bn)
Majority of remaining deferrals to expire in February/March.
1 Based on product information, not APRA EFS definition. 2 Graph may not add due to rounding. 3 High risk industries predominately include sub-sectors within property, property services construction, accommodation and hospitality and retail trade.
Credit quality
Total
portfolio
at 31 Dec 20
Deferrals
provided
since Mar 20
Deferral
packages
outstanding
at 31 Jan 21
Number of accounts
1.6m
149k26k 2%
Balances ($)
439bn
55bn10.7bn 2%
Owner-occupier
61%
64%61%
Principal & interest
78%
80%78%
>3 months ahead on repayment
42%
28%19%
Weighted average dynamic LVR
55%
64%66%
Total
portfolio
at 31 Dec 20
Deferrals
provided
since Mar 20
Deferral
packages
outstanding
at 31 Jan 21
Number of accounts 372k80k2.4k<1%
TCE ($)60bn10bn0.4bn<1%
Relationship managed97%89%91%
High risk industries
3
35%45%56%
Deferral packages
2
($bn and % by balances)
55.0
19.2
10.7
Total deferrals
provided since
Mar 20 ($bn)
Balance at
19 Oct 20
($bn)
Balance at
31 Jan 21
($bn)
9.5
1.4
0.3(1.3)
0.4
Total deferrals
provided since
Mar 20
Balance at
18 Oct 20
Granted
extension
Expired
(reached end of
6 month deferral)
Balance at
31 Jan 21

New Zealand deferrals.
Westpac Group 1Q21 Update11
MortgagesSmall business
1 High risk industries predominately include sub-sectors within accommodation and hospitality and retail trade. 2 Graph may not add due to rounding.
Credit quality
Deferral packages
2
(NZ$bn)
Deferral packages(NZ$bnand % by balances)
Total
portfolio
at 31 Dec 20
Deferrals
provided
since Mar 20
Deferral
packages
outstanding
at 31 Jan 21
Number of accounts
371k
29k3k 1%
Balances (NZ$)
56bn
6.5bn0.7bn1%
Owner-occupier
75%
83%83%
Principal & interest
87%
95%95%
>3 months ahead on repayment
66%
22%8%
Weighted average dynamic LVR
60%
62%63%
Total
portfolio
at 31 Dec 20
Deferrals
provided
since Mar 20
Deferral
packages
outstanding
at 31 Jan 21
Number of accounts 22.8k8.6k0.5k2%
TCE (NZ$)23.1bn2.2bn0.1bn<1%
Relationship managed84%79%77%
High risk industries
1
7%14%10%
2.2
0.1
0.4(0.5)
0.1
Total deferrals
provided since
Mar 20
Balance at
18 Oct 20
Granted
extension
Expired
(reached end of
3 month deferral)
Balance at
31 Jan 21
2
9
89
Total deferrals at
31 Jan 21 (%)
Returned to
repayment
Active
deferrals
Restructured
or hardship
100
6.5
2.4
0.7
Total deferrals
provided since
Mar 20 (NZ$bn)
Balance at
19 Oct 20
(NZ$bn)
Balance at
31 Jan 21
(NZ$bn)

•CET1 capital ratio of 11.87%, up 74bps from 30 September 2020
•46bps from organic capital generation from cash earnings
•RWA decrease of 18bps mainly due to lower credit RWA from improved
asset quality
•Capital deductions increased 5bps mostly from a decline in deferred tax
assets from lower provisions, partially offset by movements in the fair value
of economic hedges recognised in net profit
•Divestments 8bps from the sale of Westpac’s stake in Zip Co Limited
•2020 final dividend paid was offset by fully underwritten DRP
•Pro forma CET1 capital ratio includes the expected benefit from the sale of
Westpac General Insurance and Westpac Pacific
Westpac Group 1Q21 Update
CET1 capital ratio movements(%, bps)
Balance sheet remains strong.
Capital, funding and liquidity
12
1 Internationally comparable methodology aligns with the APRA study titled ‘International Capital Comparison Study’ dated 13 July 2015. 2 Effective 1 January 2021, the Group is required to increase the value of its net cash outflows by 10% for the
purpose of calculating LCR. On a pro forma basis, this reduces the 31 December 2020 LCR by 13 percentage points. 3 Average LCR. Calculated as a simple average of the daily observations over the relevant quarter.
Key capital and funding ratios
%
Mar-20Sep-20Dec-20
Level 2 capital ratios
CET1 capital ratio 10.811.111.9
Additional Tier 1 capital2.12.12.3
Tier 1 capital ratio12.913.214.2
Tier 2 capital3.43.13.7
Total regulatory capital ratio16.316.417.9
Risk weighted assets (RWA)($bn)444438430
Leverage ratio 5.75.86.2
Level 1 capital ratios
CET1 capital ratio11.111.412.1
Tier 1 capital ratio13.313.514.4
Total regulatory capital ratio16.716.718.2
Internationally comparable ratios
1
Leverage ratio6.36.56.8
CET1 capital ratio
15.816.517.6
NSFR
117122122
LCR
2,3
140151152
11.13
46
18
5
8
11.87
(3)
12.02
Sep-20Cash
earnings
RWA
movement
Capital
deductions
and other
FX
translation
impact
DivestmentsDec-20Dec-20
Pro forma
Up 74bps

369.1
359.4
349.8
(5.5)
(2.2)
(0.7)
(1.1)
Mar-20Sep-20Credit quality
and portfolio
mix
Portfolio
reduction
FX
translation
impacts
Mark-to-
market
Dec-20
Risk weighted assets.
Westpac Group 1Q21 Update
•RWA decreased $7.7bn over 1Q21, mostly from improved credit quality
•Credit RWA decreased $9.5bn due to:
‒Improved asset quality in mortgages including lower defaulted loans
‒Fall in delinquencies and a reduction in RWA overlay
‒Lower corporate lending including a reduction in Trade Finance in Asia
‒Lower counterparty credit and mark-to-market credit risk
‒FX impact of the appreciation of the A$ against the US$
•Non-credit RWA increased $1.9bn, mainly due to $1.2bn IRRBB and
$0.8bn market risk
443.9
437.9
0.8
1.20.0
430.2
(9.5)
(0.2)
Mar-20Sep-20Credit
risk
Market
risk
IRRBBOperational
risk
OtherDec-20
Down $7.7bn or 1.8%
Risk weighted assets ($bn)
Movement in credit risk weighted assets
1
($bn)
Capital, funding and liquidity
13
Commentary
1 Graph may not add due to rounding.
Down $9.5bn or 2.7%

Funding and liquidity.
Westpac Group 1Q21 Update
Funding and liquidity
14
Customer deposit to net loan ratio (%)
Liquidity coverage ratio
1
(LCR) (%)
140
151
152
Mar-20Sep-20Dec-20
117
122
122
Mar-20Sep-20Dec-20
Term Funding Facility (TFF)
Initial allowance$18bn
Supplementary allowance$12bn
Additional allowance$0bn
Total TFF allowance$30bn
Drawn down$18bn
76
80
80
Mar-20Sep-20Dec-20
Net stable funding ratio (NSFR) (%)
1 Effective 1 January 2021, the Group is required to increase the value of its net cash outflows by 10% for the purpose of calculating LCR. On a pro forma basis, this reduces the spot 31 December 2020 LCR by 13 percentage points.
2 Based on residual maturity and FX spot currency translation. Includes all debt issuance with contractual maturity greater than13 months excluding US Commercial Paper and Yankee Certificates of Deposit. Contractual maturity date for hybrids and
callable subordinated instruments is the first scheduled conversion date or call date for the purposes of this disclosure. Perpetual sub-debt has been included in >FY25 maturity bucket. Maturities exclude securitisation amortisation.
Quarterly average
At 31 December 2020
37
32
34
31
6
23
26
37
24
12
32
FY17FY18FY19FY20
1Q21
FY21FY22FY23FY24FY25
>FY25
Covered bond
Hybrid
Senior/Securitisation
Sub debt
TFF
Term debt issuance and maturity profile
2
($bn)
IssuanceMaturities
remaining
Includes $15bn CLF
reduction from 1 Dec 2020

Financial results throughout this presentation are in Australian dollars and are based on cash earnings unless otherwise stated.Refer to the 2020 Full Year Financial
Results Presentation and Investor Discussion Pack for definition. All results relating to 1Q21 are on an unaudited basis. This document should be read in conjunction
with Westpac’s December 2020 Pillar 3 Report, incorporating the requirements of APS330. Results principally cover and comparethe 1Q21 and 2H20 quarterly average
periods unless otherwise stated.
Westpac Group 1Q21 Update15

Our strategy.
Appendix
16
Westpac Group 1Q21 Update
Priorities
Values
HelpfulEthicalLeading ChangePerformingSimple
Purpose
50
Markets,
products,
customers
Simplify
Sustainable long-term returns
• Customer service – market leading
• Growth in key markets
• Re-set cost base
• Enhance returns, optimise capital
• Strong balance sheet
Streamline and focus the business
• Exit non-core businesses
and consolidate international
• Reduce products, simplify customer offer
• Lines of Business operating model
• Transform using digital and data to
enhance the customer experience
Address outstanding issues
• Risk management
• Risk culture
• Customer remediation & pain points
• IT complexity
Helping Australians and New Zealanders Succeed
Banking for consumer, business and institutional customers
FixPerform

Priorities for FY21.
1 Refers to the monthly growth rate for Australian housing lending outstanding.
Appendix
17
SimplifyFixPerform
• Continue to strengthen risk
management
‒Financial Crime remediation
‒Expand/deliver CORE Program
‒Reduce correspondent bank
relationships
• Accelerate customer payments &
complete Advice remediation
• Enhance performance culture
• Complete multi-year technology
plan
• Portfolio simplification
‒Continue to exit non-core
businesses
‒Close 5 international offices
• System simplification
‒Migrate BT Wrap customers
and advisers to Panorama
‒Customer Service Hub roll-out
across brands and brokers
• Further migrate customers to
current products
• Embed Lines of Business model
• Support customers through
COVID-19
• Mortgage growth in line with
major banks by 2H21
1
• Deliver 3 year cost plan
• Maintain balance sheet strength
and return focus
Westpac Group 1Q21 Update

1Q21 reported net profit after tax.
1
Westpac Group 1Q21 Update18
Unaudited net profit after tax of $1.7bn, up significantly, mostly due to impairment provisions no
longer required
1 Performance comparison is 1Q21 compared to 2H20 quarterly average unless otherwise stated. 1Q21 reported profit is unaudited. 2 Non-interest income is the total of net fee income, net wealth management and insurance income, trading income,
and other income. 3 Cash earnings is not a measure of cash flow or net profit determined on a cash accounting basis, as it includes both cash andnon-cash adjustments to statutory net profit. The specific adjustments outlined include both cash and
non-cash items. Cash earnings is reported net profit adjusted for certain items which management believe provides a measure of profit that is more effective for assessment of performance. All adjustments shown are after tax.
Cash earnings
3
policyand cash earnings adjustments to reported profit
Reported net
profit ($m)
2H20 Qtr
Avg. 1Q21
Net interest
income
3,8483,899
Non-interest
income
2
942963
Operating
expenses
(3,279)(2,834)
Impairment
(charges)/benefit
(470)501
Income tax
expense and net
profit attributable
to non-controlling
interests
(491)(825)
Net profit
attributable to
owners of WBC
5501,704
Cash earnings8081,971
$m
2H20 Qtr
Avg.1Q21
Reported net profit5501,704
Fair value (gain)/loss on
economic hedges
291259
Ineffective hedges(19)8
Adjustments related to
PendalGroup
(16)-
Treasury shares2-
Cash earnings8081,971
Westpac Group uses a measure of performance
referred to as cash earnings to assess financial
performance at both a Group and divisional
level. This measure has been used in the
Australian banking market for over 15 years and
management believes it is the most effective
way to assess performance for the current
period against prior periods and to compare
performance across divisions and across peer
companies
To calculate cash earnings, reported net profit is
adjusted for:
•Material items that key decision makers at
the Westpac Group believe do not reflect
the Group’s operating performance
•Items that are not typically considered
when dividends are recommended, such
as the impact of treasury shares and
economic hedging impacts
Appendix

Louise Coughlan
Head of Rating Agencies and Analysis
+61 2 8254 0549
+61 425 213 504
lcoughlan@westpac.com.au
Investor Relations Team.
Contact Us.
Contact us
Or email: investorrelations@westpac.com.au
www.westpac.com.au/investorcentre
Annual reports
Presentations and webcasts
5 year financial summary
Prior financial results
19Westpac Group 1Q21 Update
Andrew Bowden
Head of Investor Relations
+61 2 8253 4008
+61 438 284 863
andrewbowden@westpac.com.au
Jacqueline Boddy
Head of Debt Investor Relations
+61 2 8253 3133
+61 448 064 012
jboddy@westpac.com.au
Alec Leithhead
Manager
+61 2 8254 0159
+61 481 906 863
alec.leithhead@westpac.com.au
Rebecca Plackett
Director
+61 2 8253 6556
+61 478 336 647
rplackett@westpac.com.au

Disclaimer
The material contained in this presentation is intended to be general background information on Westpac Banking Corporation (Westpac) and its activities.
The information is supplied in summary form and is therefore not necessarily complete. It is not intended that it be relied uponas advice to investors or potential investors, who should consider
seeking independent professional advice depending upon their specific investment objectives, financial situation or particular needs. The material contained in this presentation may include
information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the
information.
All amounts are in Australian dollars unless otherwise indicated.
Unless otherwise noted, financial information in this presentation is presented on a cash earnings basis. Cash earnings is a non-GAAP measure. Refer to Westpac’s 2020 Full Year Financial
Results (incorporating the requirements of Appendix 4E) for the twelve months ended 30 September 2020 available at www.westpac.com.au for details of the basis of preparation of cash earnings.
Refer to Westpac’s 2020 Full Year Financial Results Presentation and Investor Discussion Pack for an explanation of cash earnings and a reconciliation of reported net profit to cash earnings.
The financial information for the three months ended 31 December 2020 has not been audited or reviewed by any independent registered public accounting firm and has been derived from the
unaudited financial statements for the quarter ended 31 December 2020.Any other financial information provided as at a date after 31 December 2020 (including information on deferral packages)
has not been audited or reviewed by any independent registered public accounting firm either. The information contained in this presentation is presented for information purposes only, is based on
management’s current information and reflects management’s view of other factors, including a wide variety of significant business, economic and competitive risks and uncertainties, which may be
heightened during the ongoing COVID-19 pandemic. Certain data herein may involve underlying estimates, assumptions and judgmentswhen applying accounting policies and preparing its
financial statements, particularly in connection with the calculation of provisions. Any change in such estimates, assumptions and/or judgments resulting from new information or from changes in
circumstances or experience could result in Westpac incurring losses greater than those anticipated or provided for.
This presentation contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the US Securities Exchange Act of 1934. Forward-looking statements are
statements about matters that are not historical facts. Forward-looking statements appear in a number of places in this presentation and include statements regarding our intent, belief or current
expectations with respect to our business and operations, macro and micro economic and market conditions, results of operations and financial condition, including, without limitation, future loan
loss provisions, financial support to certain borrowers, indicative drivers, forecasted economic indicators and performance metric outcomes.
We use words such as ‘will’, ‘may’, ‘expect’, ‘intend’, ‘seek’, ‘would’, ‘should’, ‘could’, ‘continue’, ‘plan’, ‘estimate’, ‘anticipate’, ‘believe’, ‘probability’, ‘risk’, ‘aim’, or other similar words to identify
forward-looking statements. These forward-looking statements reflect our current views with respect to future events and are subject to change, certain risks, uncertainties and assumptions which
are, in many instances, beyond our control, and have been made based upon management’s expectations and beliefs concerning future developments and their potential effect upon us. There can
be no assurance that future developments will be in accordance with our expectations or that the effect of future developments on us will be those anticipated. Actual results could differ materially
from those which we expect, depending on the outcome of various factors. Factors that may impact on the forward-looking statements made include, but are not limited to, those described in the
section titled ‘Risk factors' in Westpac’s 2020 Annual Report for the twelve months ended 30 September 2020 available at www.westpac.com.au. When relying on forward-looking statements to
make decisions with respect to us, investors and others should carefully consider such factors and other uncertainties and events. We are under no obligation to update any forward-looking
statements contained in this presentation, whether as a result of new information, future events or otherwise, after the dateofthis presentation.
Disclaimer
20Westpac Group 1Q21 Update