Westpac Pillar 3 Report (June 2024)

ASX
Release


19 August 2024

Pillar 3 Report as at 30 June 2024

Westpac Banking Corporation (“Westpac”) today provides the attached Pillar 3 Report
(June 2024).









For further information:

Hayden Cooper Justin McCarthy
Group Head of Media Relations General Manager, Investor Relations
0402 393 619 0422 800 321


This document has been authorised for release by Tim Hartin, Company Secretary.



Level 18, 275 Kent Street
Sydney, NSW, 2000

JUNE 2024
INCORPORATING THE REQUIREMENTS OF APS
330
WESTPAC BANKING CORPORATION
ABN 33 007 457 141
Pillar 3
Report

Table of contents
Acknowledgment of Indigenous Peoples
Westpac acknowledges the First Peoples of Australia and recognises
their ongoing role as Traditional Owners of the land and waters of this
country, and we pay respect to Elders past and present. We extend that
respect to Westpac’s Aboriginal and Torres Strait Islander employees,
partners and stakeholders, and to the Indigenous Peoples in the other
locations where we operate.
In Aotearoa (New Zealand) we also acknowledge tangata whenua and
the unique relationship that Indigenous Peoples share with all New
Zealanders as partners and custodians of their natural ecosystems
under Te Tiriti o Waitangi.
2WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
Structure of Pillar 3 Report
PILLAR 3 REPORT3
Executive Summary4
Introduction6
Group Structure7
Capital Overview9
Leverage Ratio12
Credit Risk Exposures13
Securitisation19
Liquidity Coverage Ratio22
APPENDICES23
Appendix I – APS 330 quantitative requirements24
Appendix II – Exchange rates25
GLOSSARY26
DISCLOSURE REGARDING FORWARD-
LOOKING STATEMENTS
29
In this report references to ‘Westpac’, ‘Westpac Group’, ‘the Group’, ‘we’, ‘us’ and ‘our’ are to Westpac Banking Corporation and its controlled entities
(unless the context indicates otherwise).
In this report, unless otherwise stated or the context otherwise requires, references to ‘$’, ‘AUD’ or ‘A$’ are to Australian dollars. References to
‘US$’, ‘USD’ or ‘US dollars’ are to United States dollars, references to ‘NZ$’, ‘NZD’ or ‘NZ dollars’ are to New Zealand dollars, references to 'GBP'
are to British Pound Sterling and references to 'EUR' are to European Euro. Refer to Appendix II for information regarding the rates of exchange
between the Australian dollar and other currencies applied by the Group as part of its operating activities as at 30 June 2024, 31 March 2024 and
30 June 2023.
Any discrepancies between totals and sums of components in tables contained in this report are due to rounding.
In this report, unless otherwise stated, disclosures reflect the Australian Prudential Regulation Authority’s (APRA) implementation of Basel III.
Information contained in or accessible through the websites mentioned in this report does not form part of this report unless we specifically state
that it is incorporated by reference and forms part of this report. All references in this report to websites are inactive textual references and are for
information only.
Westpac Banking Corporation ABN 33 007 457 141

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
3
PILLAR 3 REPORT
EXECUTIVE SUMMARY
INTRODUCTION
GROUP STRUCTURE
CAPITAL OVERVIEW
LEVERAGE RATIO
CREDIT RISK EXPOSURES
SECURITISATION
LIQUIDITY COVERAGE RATIO

4WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
EXECUTIVE SUMMARY
Key capital ratios
30 June31 March30 June
%202420242023
Level 2 regulatory capital structure
Common equity Tier 1 (CET1) capital ratio11.9612.5511.86
Additional Tier 1 capital ratio2.412.462.16
Tier 1 capital ratio14.3715.0114.02
Tier 2 capital ratio6.506.425.69
Total regulatory capital ratio20.8721.4319.71
APRA leverage ratio5.385.495.36
Level 1 regulatory capital structure
Level 1 CET1 capital ratio12.0712.8012.01
Third Quarter 2024 – First Half 2024
Westpac’s Level 2 CET1 capital ratio was 11.96% at 30 June 2024, 59 basis points (bps) lower than 31 March 2024. The
decrease was primarily due to payment of the 2024 interim dividend (58 bps), return of capital to shareholders by way
of a special dividend and on market share buyback (16 bps) and an increase in total Risk Weighted Assets (RWA) (21
bps). These impacts were partly offset by the contribution of net profit after tax earned in the quarter (39 bps).
Third Quarter 2024 – Third Quarter 2023
Westpac’s Level 2 CET1 capital ratio at 30 June 2024 was 10 bps higher than 30 June 2023 with higher net profit after
tax (143 bps) and lower total RWA (21 bps) partly offset by ordinary dividend payments (114 bps) and the return of
capital to shareholders (35 bps). Total RWA reduced by $8.3 billion or 1.8%, mainly due to the lower embedded loss
within IRRBB RWA and lower market risk RWA.
Risk Weighted Assets
30 June31 March30 June
$m202420242023
Risk weighted assets at Level 2
Credit risk343,555339,741342,766
Market risk11,89511,25114,561
Operational risk54,60954,93455,362
Interest rate risk in the banking book (IRRBB)36,48633,59942,635
Other5,1774,8924,692
Total RWA451,722444,417460,016
Total Exposure at Default1,170,0901,177,9711,191,704
Total RWA increased by 1.6% to $451.7 billion during the quarter due to increases in both credit and non-credit RWA.
Credit RWA increased by $3.8 billion. Key movements included:
•A $3.5 billion increase from higher lending, primarily in Property Finance and Business Lending;
•A $1.9 billion increase due to deterioration in credit metrics, mainly from an increase in Residential
Mortgage delinquencies;
•A $0.7 billion decrease from data refinements mainly in Residential Mortgages and Large Corporate;
•A $0.5 billion decrease from counterparty credit risk and mark-to-market related credit risk; and
•A $0.4 billion decrease from foreign currency translation impacts, predominantly the appreciation of the A$ against
the NZ$ and US$.
Non-credit RWA increased by $3.5 billion. Key movements included:
•IRRBB RWA: $2.9 billion increase, mainly driven by:
–Increase of $1.5 billion from a higher regulatory embedded loss due to higher interest rates; and
–Increase of $1.1 billion in repricing and yield curve risk in line with underlying banking book positions.
•Market RWA: $0.6 billion increase due to greater market risk exposures increasing Stressed Value at Risk (VaR).
The impact of which was partly offset by reduced market volatility in the one-year historical VaR window as market
events rolled out of the observation period; and
•Operational RWA: $0.3 billion decrease due to roll-off of indemnities provided as part of the exit of non-
core businesses.

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
5
Exposure at Default (EAD)
EAD decreased by $7.9 billion over the quarter. Key movements included:
•A $20.7 billion decrease in Sovereign exposures, mainly driven by a reduction in funds placed with central banks as
Term Funding Facility (TFF) drawdowns matured, partly offset by higher government bond holdings;
•A $14.9 billion increase from higher lending, mainly in Residential Mortgages, Property Finance and Business Lending;
•A $1.7 billion decrease from foreign currency translation impacts; and
•A $0.3 billion decrease in derivative exposures.
Tier 2 capital movement for third quarter 2024
The Group issued $1.25 billion of Tier 2 capital instruments over the quarter. The impact of these transactions was an
increase in the Total regulatory capital ratio of approximately 28 bps. There were no Tier 2 capital instruments redeemed.
D-SIBs, including Westpac, have a total capital requirement of 18.25% from 1 January 2026.
Leverage ratio
The leverage ratio represents the amount of Tier 1 capital relative to exposure
1
. At 30 June 2024, Westpac’s leverage
ratio was 5.38%, down 11 bps from 31 March 2024. The ratio remains well above APRA's regulatory minimum requirement
of 3.5%. The decrease in the leverage ratio from 31 March 2024 is due to lower Net Tier 1 Regulatory Capital of $1.8 billion
partly offset by a reduction in Total Exposures of $7.8 billion.
Liquidity Coverage Ratio (LCR)
Westpac’s average LCR for the quarter ended
30 June 2024 was 130% (31 March 2024: 132%), well above the regulatory
minimum of 100%. The decrease in the ratio was mainly due to lower average liquid assets.
1.
As defined under Attachment D of APS 110: Capital Adequacy.

6WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
INTRODUCTION
Westpac Banking Corporation is an Authorised Deposit-taking Institution (ADI) subject to regulation by APRA. APRA
has accredited Westpac to apply advanced models permitted by the Basel III global capital adequacy regime to the
measurement of its regulatory capital requirements. Westpac uses the Advanced Internal Ratings-Based approach
(Advanced IRB) for credit risk and the Standardised Measurement Approach (SMA) for operational risk.
In accordance with APS 330 Public Disclosure, financial institutions that have received the Advanced IRB accreditation,
such as Westpac, are required to disclose prudential information about their risk management practices on a
semi-annual basis. A subset of this information must be disclosed quarterly.
In addition to this report, the regulatory disclosures section of the Westpac website
1
contains the reporting
requirements for:
•Capital instruments under Attachment B of APS 330; and
•The identification of potential Global-Systemically Important Banks (G-SIB) under Attachment H of APS 330
(disclosed annually).
Capital instruments disclosures are updated when:
•A new capital instrument is issued that will form part of regulatory capital; or
•A capital instrument is redeemed, converted into CET1 capital, written off, or its terms and conditions are changed.
1.
http://www.westpac.com.au/about-westpac/investor-centre/financial-information/regulatory-disclosures/

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
7
GROUP STRUCTURE
APRA applies a tiered approach to measuring Westpac’s capital adequacy
1
by assessing financial strength at three levels:
•Level 1, comprising Westpac Banking Corporation and its subsidiary entities that have been approved by APRA as
being part of a single ‘Extended Licensed Entity’ (ELE) for the purposes of measuring capital adequacy;
•Level 2, the consolidation of Westpac Banking Corporation and all its subsidiary entities except those entities
specifically excluded by APRA regulations. The head of the Level 2 group is Westpac Banking Corporation; and
•Level 3, the consolidation of Westpac Banking Corporation and all its subsidiary entities.
Unless otherwise specified, all quantitative disclosures in this report refer to the prudential assessment of Westpac’s
financial strength on a Level 2 basis
2
.
The Westpac Group
The following diagram shows the Level 3 conglomerate group and illustrates the different tiers of regulatory
consolidation.
Westpac Banking
Corporation
Offshore Branches and
Extended Licensed Entities
Westpac New Zealand Limited
Other Banking & Financial Entities
Insurance, Funds Management, Non-Financial, Special
Purpose Entities
Level 3
Level 2
Level 1
Accounting consolidation
3
The consolidated financial statements incorporate the assets and liabilities of all entities (including structured entities)
controlled by Westpac. Westpac and its subsidiaries are referred to collectively as the ‘Group’. The effects of all
transactions between entities in the Group are eliminated on consolidation. Control exists when the parent entity is
exposed to, or has rights to, variable returns from its involvement with an entity, and has the ability to affect those
returns through its power over that entity. Subsidiaries are fully consolidated from the date on which control commences
and they are no longer consolidated from the date that control ceases.
Group entities excluded from the regulatory consolidation at Level 2
Regulatory consolidation at Level 2 includes the global operations of Westpac and its subsidiary entities, including other
controlled banking, securities and financial entities, except for those entities involved in the following business activities:
•insurance;
•acting as manager, responsible entity, approved trustee, trustee or similar role in relation to funds management;
•non-financial (commercial) operations; or
•special purpose entities to which assets have been transferred in accordance with the requirements of APS
120 Securitisation.
Retained earnings and equity investments in subsidiary entities excluded from the consolidation at Level 2 are deducted
from capital, with the exception of securitisation special purpose entities.
1.
APS 110 Capital Adequacy outlines the overall framework adopted by APRA for the purpose of assessing the capital adequacy of an ADI.
2.Impaired assets and provisions held in Level 3 entities are excluded from the tables in this report.
3.Refer to Note 29 of Westpac’s 2023 Annual Report for further details.

8WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
GROUP STRUCTURE
Subsidiary banking entities
Westpac New Zealand Limited (WNZL), a wholly owned subsidiary entity, is a registered bank incorporated in
New Zealand and regulated by, among others, the Reserve Bank of New Zealand (RBNZ) for prudential purposes.
WNZL uses both the Advanced IRB and Standardised methodologies for credit risk, and the SMA for operational risk.
Other subsidiary banking entities in the Group include Westpac Bank PNG Limited and Westpac Europe GMBH. For the
purposes of determining Westpac’s capital adequacy, subsidiary banking entities are consolidated at Level 2.
Branch operations
Westpac is one of Australia's leading providers of banking and selected financial services, operating predominantly in
Australia and New Zealand, with limited operations in Europe, North America and Asia. Westpac operates through a
significant online capability supported by an extensive branch and ATM network, call centres and specialist relationship
and product managers.
Restrictions and major impediments on the transfer of funds or regulatory capital within the Group
Certain subsidiary banking and trustee entities are subject to local prudential regulation in their own right, including
capital adequacy requirements and investment or intra-group exposure limits. Westpac seeks to ensure that its
subsidiary entities are adequately capitalised and adhere to regulatory requirements at all times. Dividends and capital
are repatriated in line with the Group’s policy subject to subsidiary Board approval and local regulations.
Minimum capital (‘thin capitalisation’) rules
Tax legislation in most jurisdictions in which the Group operates prescribes minimum levels of capital that must be
retained in that jurisdiction to avoid a portion of the interest costs incurred in the jurisdiction ceasing to be tax
deductible. Capital for these purposes includes both contributed capital and non-distributed retained earnings. Westpac
seeks to maintain sufficient capital/retained earnings in these entities to comply with these rules.
Tax costs associated with repatriation
Repatriation of retained earnings (and capital) may result in tax being payable in either the jurisdiction from
which the repatriation occurs or Australia on receipt of the relevant amounts. This cost would reduce the amount
actually repatriated.
Intra-group exposure limits
Exposures to related entities are managed within the prudential limits prescribed by APRA in APS 222 Associations with
Related Entities
1
. Westpac has an internal limit structure and approval process governing credit exposures to related
entities. This limit structure and approval process, combined with APRA’s prudential limits, is designed to reduce the
potential for unacceptable contagion risk.
RBNZ capital review
2
The RBNZ capital adequacy framework became effective from 1 July 2022. The reforms are being phased in from
1 October 2021, with changes yet to be fully implemented including:
•WNZL Tier 1 capital requirement will increase to 16% of RWA by 1 July 2028, of which 13.5% must be CET1 and up to
2.5% may be AT1;
•WNZL’s total capital requirement will increase to 18% of RWA by 1 July 2028, of which up to 2% can be Tier 2
capital; and
•Eligible Tier 1 capital will comprise common equity and redeemable perpetual preference shares. Existing AT1 capital
instruments will be phased out by 1 July 2028.
1.
For the purposes of APS 222, subsidiaries controlled by Westpac, other than subsidiaries that form part of the ELE, represent ‘related entities’.
Prudential and internal limits apply to intra-group exposures between the ELE and related entities, both on an individual and aggregate basis.
2.WNZL’s references to CET1, AT1 and other capital measures may not align with the Australian definition in the Glossary as they are subject to
RBNZ’s requirements.

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
9
CAPITAL OVERVIEW
Capital management strategy
Westpac's capital management strategy is reviewed on an ongoing basis and annually through an Internal Capital
Adequacy Assessment Process (ICAAP). Key considerations include:
•Regulatory capital minimums together with the capital conservation buffer (CCB) and countercyclical capital buffer
are the Total CET1 Requirement. The Total CET1 Requirement for D-SIBs, including Westpac, is at least 10.25%
1
;
•Strategy, business mix and operations and contingency plans;
•Perspectives of external stakeholders including rating agencies as well as equity and debt investors; and
•A stress testing framework that tests our resilience under a range of adverse economic scenarios.
The Board has determined that Westpac will target a CET1 operating capital range of between 11.0% and 11.5%, in normal
operating conditions.
Westpac’s capital adequacy ratios
30 June31 March30 June
%202420242023
The Westpac Group at Level 2
CET1 capital ratio11.9612.5511.86
Additional Tier 1 capital ratio2.412.462.16
Tier 1 capital ratio14.3715.0114.02
Tier 2 capital ratio6.506.425.69
Total regulatory capital ratio20.8721.4319.71
The Westpac Group at Level 1
CET1 capital ratio12.0712.8012.01
Additional Tier 1 capital ratio2.642.682.35
Tier 1 capital ratio14.7115.4814.36
Tier 2 capital ratio7.167.116.22
Total regulatory capital ratio21.8722.5920.58
Westpac New Zealand Limited’s capital adequacy ratios
30 June31 March30 June
%202420242023
Westpac New Zealand Limited
CET1 capital ratio11.7711.3711.31
Additional Tier 1 capital ratio2.142.141.64
Tier 1 capital ratio13.9113.5112.95
Tier 2 capital ratio1.711.720.95
Total regulatory capital ratio15.6215.2313.90
Westpac New Zealand capital ratios are reported in accordance with RBNZ requirements.
1.
Noting that APRA may apply higher CET1 requirements for an individual ADI.

10WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
CAPITAL OVERVIEW
This table shows risk weighted assets for each risk type included in the regulatory assessment of Westpac’s
capital adequacy.
$m
IRB
Approach
a
FIRB
Approach
b
Standardised
Approach
c
Total Risk
Weighted
Assets
30 June 2024
Credit risk
Corporate25,608-1,31226,920
Business Lending24,774-22825,002
Property Finance31,041--31,041
Large Corporate-20,753-20,753
Sovereign-1,9911,6373,628
Financial Institutions-12,8717912,950
Residential Mortgages117,554-16,199133,753
Australian Credit Cards3,692--3,692
Other Retail4,151-4184,569
Small Business17,282-11917,401
Specialised Lending3,568-4404,008
Securitisation7,443--7,443
New Zealand44,530-2,27946,809
Credit valuation adjustment--5,5865,586
Total Credit risk279,64335,61528,297343,555
Market risk11,895
Operational risk54,609
Interest rate risk in the banking book36,486
Other
d
5,177
Total451,722
a.IRB approaches excluding Foundation IRB (FIRB).
b.Under FIRB, an ADI must provide its own estimates of probability of default (PD) and maturity and rely on supervisory estimates of loss given
default (LGD) and EAD.
c.Westpac’s standardised risk weighted assets are categorised based on their equivalent IRB categories.
d.Other assets include cash items, unsettled transactions, fixed assets and other non-interest earning assets.

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
11
$m
IRB
Approach
a
FIRB
Approach
b
Standardised
Approach
c
Total Risk
Weighted
Assets
31 March 2024
Credit risk
Corporate25,269-1,23026,499
Business Lending23,426-22923,655
Property Finance30,386--30,386
Large Corporate-20,558-20,558
Sovereign-1,9191,6043,523
Financial Institutions-13,0887313,161
Residential Mortgages115,918-16,786132,704
Australian Credit Cards3,789--3,789
Other Retail4,259-4244,683
Small Business17,378-11817,496
Specialised Lending3,276-4573,733
Securitisation7,317--7,317
New Zealand44,184-2,30646,490
Credit valuation adjustment--5,7475,747
Total Credit risk275,20235,56528,974339,741
Market risk11,251
Operational risk54,934
Interest rate risk in the banking book33,599
Other
d
4,892
Total444,417
30 June 2023
Credit risk
Corporate24,542-1,07525,617
Business Lending26,752-18626,938
Property Finance32,119--32,119
Large Corporate-20,281-20,281
Sovereign-2,3601,8144,174
Financial Institutions-14,8958214,977
Residential Mortgages111,459-18,834130,293
Australian Credit Cards3,937--3,937
Other Retail5,113-4675,580
Small Business17,908-16918,077
Specialised Lending3,042-4563,498
Securitisation7,098--7,098
New Zealand42,809-2,01544,824
Credit valuation adjustment--5,3535,353
Total Credit risk274,77937,53630,451342,766
Market risk14,561
Operational risk55,362
Interest rate risk in the banking book42,635
Other
d
4,692
Total460,016
a.IRB approaches excluding Foundation IRB (FIRB).
b.Under FIRB, an ADI must provide its own estimates of PD and maturity and rely on supervisory estimates of LGD and EAD.
c.Westpac’s standardised risk weighted assets are categorised based on their equivalent IRB categories.
d.Other assets include cash items, unsettled transactions, fixed assets and other non-interest earning assets.

12WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
LEVERAGE RATIO
Leverage Ratio
The following table summarises Westpac’s leverage ratio.
$ billion30 June 202431 March 202431 December 202330 September 2023
Net Tier 1 Regulatory Capital64.966.765.365.9
Total Exposures1,207.11,214.91,207.41,196.7
Leverage ratio5.38%5.49%5.41%5.50%

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
13
CREDIT RISK EXPOSURES
Summary credit risk disclosure
$m
Exposure
at Default
Risk
Weighted
Assets
Regulatory
Expected
Loss
a
Regulatory
expected
loss for
non-defaulted
exposures
Specific
Provision for
Non-performing
Exposures
Actual
losses for
the 9 months
ended
30 June 2024
Corporate43,18625,6085541571644
Business Lending45,39424,77459925535411
Property Finance57,09931,0413311731564
Large Corporate41,49820,75396951-
Sovereign147,0081,99133--
Financial Institutions39,52612,871622719-
Residential Mortgages548,536117,5541,36986550734
Australian Credit Cards13,4553,6921651244194
Other Retail4,0644,1511911316078
Small Business28,02117,28251633519336
Specialised Lending4,5743,5683131--
Securitisation38,8347,443----
Standardised
b
27,24926,018--11514
New Zealand131,64646,80961036919415
Total1,170,090343,5554,5272,5651,804290
a.Includes regulatory expected losses for defaulted and non-defaulted exposures.
b.Includes credit valuation adjustment.
$m
Exposure
at Default
Risk
Weighted
Assets
Regulatory
Expected
Loss
a
Regulatory
expected
loss for
non-defaulted
exposures
Specific
Provision for
Non-performing
Exposures
Actual
losses for
the 6 months
ended
31 March 2024
Corporate42,93625,26954715116314
Business Lending43,81523,4265542403226
Property Finance55,50330,3863281731533
Large Corporate40,20520,5588585--
Sovereign168,6371,91922--
Financial Institutions38,42813,088602817-
Residential Mortgages540,189115,9181,32785147920
Australian Credit Cards13,5613,7891661283856
Other Retail4,2714,2591911325950
Small Business28,00217,37851034118326
Specialised Lending4,1163,2763030--
Securitisation38,0097,317----
Standardised
b
27,41126,668--1252
New Zealand132,88846,49058337415710
Total1,177,971339,7414,3832,5351,696187
a.Includes regulatory expected losses for defaulted and non-defaulted exposures.
b.Includes credit valuation adjustment.

14WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
CREDIT RISK EXPOSURES
$m
Exposure
at Default
Risk
Weighted
Assets
Regulatory
Expected
Loss
a
Regulatory
expected
loss for
non-defaulted
exposures
Specific
Provision for
Non-performing
Exposures
Actual
losses for
the 9 months
ended
30 June 2023
Corporate
b
38,37224,542593140140(25)
Business Lending42,31026,75250627028223
Property Finance53,90432,1193001641363
Large Corporate39,49320,2816464--
Sovereign208,4702,36052--
Financial Institutions37,98014,8956631166
Residential Mortgages523,670111,4591,11276035420
Australian Credit Cards13,6533,9371701303672
Other Retail5,2635,1132251477484
Small Business29,38717,90856837618743
Specialised Lending3,9653,0422424--
Securitisation36,0237,098----
Standardised
c
29,48128,436--905
New Zealand129,73344,82453035312715
Total1,191,704342,7664,1632,4611,442246
a.Includes regulatory expected losses for defaulted and non-defaulted exposures.
b.Corporate loan losses include the recovery of a previously written off loan of $40 million.
c.Includes credit valuation adjustment.

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
15
Provision for expected credit losses
This table discloses the provision for expected credit losses. Stage 1 and Stage 2 expected credit losses are classified as
provisions held against performing exposures. Stage 3 expected credit losses are classified as specific provisions (SPs)
described as individually assessed provisions (IAPs).
Since 31 March 2024, defaulted credit exposures have increased by $0.6 billion, mostly across the residential mortgage
and small business portfolios. This has been driven by an increase in 90+ day delinquencies in the program-managed
portfolio, reflecting the impact of higher interest rates and rising cost of living pressures on customers. In addition,
certain defaulted transaction-managed counterparties have been downgraded to doubtful grades. This has led to an
increase in IAPs, which have been raised against the portion of those defaulted exposures where the full collection
of principal and interest is unlikely. Conversely, the decrease in collectively assessed provisions (CAPs) was driven by
the impact of more favourable economic forecasts being used in the calculation of provisions for expected credit
losses (ECL).
AAS ProvisionsTotal Regulatory
$mIAPsCAPsProvisions
30 June 2024
Specific Provisions
for impaired loans526283809
for defaulted but not impaired loans-995995
Total Specific Provision5261,2781,804
Provisions held against performing exposures-3,3243,324
Total provisions for ECL5264,6025,128
31 March 2024
Specific Provisions
for impaired loans461238699
for defaulted but not impaired loans-997997
Total Specific Provision4611,2351,696
Provisions held against performing exposures-3,4393,439
Total provisions for ECL4614,6745,135
30 June 2023
Specific Provisions
for impaired loans407243650
for defaulted but not impaired loans-792792
Total Specific Provision4071,0351,442
Provisions held against performing exposures-3,6563,656
Total provisions for ECL4074,6915,098

16WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
CREDIT RISK EXPOSURES
Exposure at Default by major type
The following tables segment the portfolio by characteristics that provide an insight into the assessment of credit
risk concentration.
Off-balance sheet
Total
Exposure
at Default
Average
9 months
ended$m
On balance
sheet
Non-market
related
Market
related
30 June 2024
Corporate29,47610,0423,66843,18641,891
Business Lending39,3725,9457745,39443,824
Property Finance51,2825,58323457,09955,436
Large Corporate22,69614,5154,28741,49840,687
Sovereign141,4502205,338147,008168,301
Financial Institutions17,5395,13516,85239,52637,649
Residential Mortgages485,26563,271-548,536539,179
Australian Credit Cards6,1927,263-13,45513,553
Other Retail3,222842-4,0644,440
Small Business20,9217,100-28,02128,093
Specialised Lending2,4101,9951694,5744,170
Securitisation32,3356,4188138,83438,257
Standardised18,8045,1733,27227,24928,518
New Zealand110,32320,661662131,646133,290
Total981,287154,16334,6401,170,0901,177,288
Off-balance sheet
Total
Exposure
at Default
Average
6 months
ended$m
On balance
sheet
Non-market
related
Market
related
31 March 2024
Corporate29,17710,2363,52342,93641,459
Business Lending37,4496,25810843,81543,301
Property Finance50,0265,14832955,50354,882
Large Corporate21,25614,6204,32940,20540,416
Sovereign152,73122215,684168,637175,399
Financial Institutions16,8775,64415,90738,42837,023
Residential Mortgages475,87464,315-540,189536,060
Australian Credit Cards6,2847,277-13,56113,586
Other Retail3,413858-4,2714,565
Small Business20,7687,234-28,00228,116
Specialised Lending2,2641,6601924,1164,035
Securitisation30,9716,90713138,00938,065
Standardised19,1315,3192,96127,41128,941
New Zealand111,20620,973709132,888133,838
Total977,427156,67143,8731,177,9711,179,686
Off-balance sheet
Total
Exposure
at Default
Average
9 months
ended$m
On balance
sheet
Non-market
related
Market
related
30 June 2023
Corporate26,0279,2233,12238,37237,741
Business Lending36,9265,3255942,31041,586
Property Finance48,2445,38727353,90453,301
Large Corporate20,52214,6574,31439,49339,871
Sovereign170,17124638,053208,470209,668
Financial Institutions16,6514,35616,97337,98037,834
Residential Mortgages458,51565,155-523,670520,972
Australian Credit Cards6,1827,471-13,65313,664
Other Retail4,288975-5,2635,425
Small Business22,2297,158-29,38729,473
Specialised Lending1,8891,9541223,9653,856
Securitisation27,2128,7694236,02334,427
Standardised23,1073,4582,91629,48129,867
New Zealand107,57621,628529129,733132,119
Total969,539155,76266,4031,191,7041,189,804

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
17
Non-performing credit exposures by portfolio
The table below discloses non-performing credit exposures by credit asset class. Non-performing exposures are those
captured by the definition of default contained in APS 220 Credit Risk Management, which occurs when either one, or
both, of the following has happened:
•Westpac considers that the borrower is unlikely to pay its credit obligations to Westpac in full, without recourse to
actions such as realising available security;
•the borrower is 90 days or more past-due on a credit obligation to Westpac.
Non-performing exposures can only be reclassified back to performing after the borrower demonstrates timely
repayments over the relevant probationary period, which is 90 days for non-restructured exposures and six months
for restructured exposures.
$m
Non Performing
Exposures -
Not Impaired
Non Performing
Exposures
- Impaired
Total Non
Performing
Exposures
Specific provisions
for Non Performing
Exposures
Actual Losses
for the 9
months ended
30 June 2024
Corporate791602391644
Business Lending8272461,07335411
Property Finance703107131564
Large Corporate2461-
Sovereign-----
Financial Institutions5946319-
Residential Mortgages5,4493585,80750734
Australian Credit Cards-96964194
Other Retail-1191196078
Small Business6565451,20119336
Specialised Lending-----
Securitisation-----
Standardised34510845311514
New Zealand8182131,03119415
Total8,9381,86310,8011,804290
$m
Non Performing
Exposures -
Not Impaired
Non Performing
Exposures
- Impaired
Total Non
Performing
Exposures
Specific provisions
for Non Performing
Exposures
Actual Losses
for the 6
months ended
31 March 2024
Corporate8916325216314
Business Lending9041611,0653226
Property Finance694137071533
Large Corporate-----
Sovereign-----
Financial Institutions44115517-
Residential Mortgages5,1232985,42147920
Australian Credit Cards-92923856
Other Retail-1181185950
Small Business7793701,14918326
Specialised Lending-----
Securitisation-----
Standardised3651184831252
New Zealand71915687515710
Total8,7171,50010,2171,696187

18WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
CREDIT RISK EXPOSURES
$m
Non Performing
Exposures -
Not Impaired
Non Performing
Exposures
- Impaired
Total Non
Performing
Exposures
Specific provisions
for Non Performing
Exposures
Actual Losses
for the 9
months ended
30 June 2023
Corporate54145199140(25)
Business Lending8791851,06428223
Property Finance694267201363
Large Corporate-----
Sovereign-----
Financial Institutions411354166
Residential Mortgages3,7772334,01035420
Australian Credit Cards-96963672
Other Retail-1501507484
Small Business6913561,04718743
Specialised Lending-----
Securitisation-----
Standardised307126433905
New Zealand6538874112715
Total7,0961,4188,5141,442246

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
19
SECURITISATION
Banking book summary of securitisation activity by asset type
This table shows assets transferred into securitisation schemes by underlying asset type (ADI originated) for the
relevant period.
For the 3 months endedRecognised
30 June 2024Amountgain or loss
$msecuritisedon sale
Residential mortgages972-
Total972-
For the 6 months endedRecognised
31 March 2024Amountgain or loss
$msecuritisedon sale
Residential mortgages4,714-
Total4,714-
For the 3 months ended
Recognised
30 June 2023Amountgain or loss
$msecuritisedon sale
Residential mortgages1,819-
Total1,819-

20WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
SECURITISATION
Banking book summary of on and off-balance sheet securitisation by exposure type
On balance sheetTotal
SecuritisationSecuritisationOff-balanceExposure
$mretainedpurchasedsheetat Default
30 June 2024
Securities-9,153-9,153
Liquidity facilities--323323
Funding facilities6,580-8457,425
Underwriting facilities----
Lending facilities1,732-2712,003
Warehouse facilities14,870-5,06019,930
Total23,1829,1536,49938,834
31 March 2024
Securities-7,942-7,942
Liquidity facilities--378378
Funding facilities6,988-7207,708
Underwriting facilities----
Lending facilities1,831-1591,990
Warehouse facilities14,210-5,78119,991
Total23,0297,9427,03838,009
30 June 2023
Securities-8,163658,228
Liquidity facilities--289289
Funding facilities4,309-4954,803
Underwriting facilities----
Lending facilities1,842-1511,993
Warehouse facilities12,896-7,81320,709
Total19,0468,1638,81436,023

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
21
Trading book summary of on and off-balance sheet securitisation by exposure type
1
On balance sheetTotal
SecuritisationSecuritisationOff-balanceExposure
$mretainedpurchasedsheetat Default
30 June 2024
Securities-922-922
Liquidity facilities----
Funding facilities----
Underwriting facilities----
Lending facilities----
Warehouse facilities----
Credit enhancements----
Basis swaps--7878
Other derivatives--33
Total-922811,003
31 March 2024
Securities-610-610
Liquidity facilities----
Funding facilities----
Underwriting facilities----
Lending facilities----
Warehouse facilities----
Credit enhancements----
Basis swaps--130130
Other derivatives--11
Total-610131741
30 June 2023
Securities-455-455
Liquidity facilities----
Funding facilities----
Underwriting facilities----
Lending facilities----
Warehouse facilities----
Credit enhancements----
Basis swaps--3737
Other derivatives--55
Total-45542498
1.EAD associated with trading book securitisation is not included in the EAD by major type on page 16. Trading book securitisation exposure is
captured and risk weighted under APS 116.

22WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
LIQUIDITY COVERAGE RATIO
Liquidity Coverage Ratio
The Liquidity Coverage Ratio (LCR) measures a bank’s ability to meet its liquidity needs under an acute liquidity stress
scenario (prescribed by APRA), measured over a 30-day time frame. LCR is calculated as High-Quality Liquid Assets
(HQLA) as a percentage of Net Cash Outflows (NCO) as defined in APS 210.
Westpac’s average LCR
1
for the quarter was 130% (31 March 2024: 132%) and continues to be above the regulatory
minimum of 100%.
The decrease in average LCR for the quarter ended 30 June 2024 (130%) reflects a decrease in average liquid assets
of $9.0 billion or 4.9%. This was driven by TFF maturities during the quarter, the higher average funding gap and lower
average short-term wholesale borrowings partly offset by higher average issuance of term wholesale borrowings. Partly
offsetting these factors was a decrease in average NCO driven by reduced wholesale funding outflows, primarily from
long-term wholesale funding maturities.
HQLA averaged $167.5 billion over the quarter (31 March 2024: $176.7 billion), comprising of cash and balances with
central banks, Australian government and semi-government bonds. Westpac also holds other HQLA, mainly qualifying
RBNZ securities.
Funding is sourced from retail, small business, corporate and institutional customer deposits and wholesale funding.
Westpac seeks to minimise the outflows associated with this funding by targeting customer deposits with lower LCR
outflow rates and actively manages the maturity profile of its wholesale funding portfolio.
Westpac maintains a buffer over the regulatory minimum of 100% in line with its liquidity risk tolerance.
30 June 202431 March 2024
$m
Total unweighted
value (average)
Total weighted
value (average)
Total unweighted
value (average)
Total weighted
value (average)
Liquid assets, of which:
1High-quality liquid assets (HQLA)167,467176,659
2Alternative liquid assets (ALA)--
3Reserve Bank of New Zealand (RBNZ) securities5,1034,871
Cash Outflows
4Retail deposits and deposits from small
business customers, of which:
344,13030,643338,11530,017
5Stable deposits165,4248,271163,1298,156
6Less stable deposits178,70622,372174,98621,861
7Unsecured wholesale funding, of which:164,49774,059172,81878,521
8Operational deposits (all counterparties)
and deposits in networks for
cooperative banks
73,22718,24076,92019,160
9Non-operational deposits
(all counterparties)
81,02345,57282,37745,840
10Unsecured debt10,24710,24713,52113,521
11Secured wholesale funding2,2692,039
12Additional requirements, of which:199,49831,664216,58533,024
13Outflows related to derivatives exposures
and other collateral requirements
13,64113,64113,89013,890
14Outflows related to loss of funding on
debt products
661661810810
15Credit and liquidity facilities185,19617,362201,88518,324
16Other contractual funding obligations9,8256,9108,4256,186
17Other contingent funding obligations66,4825,17849,6374,334
18Total cash outflows150,723154,121
Cash inflows
19Secured lending (e.g. reverse repos)13,453-8,915-
20Inflows from fully performing exposures10,7165,7909,8635,387
21Other cash inflows11,74311,74311,62611,626
22Total cash inflows35,91217,53330,40417,013
23Total liquid assets172,570181,530
24Total net cash outflows133,190137,108
25Liquidity Coverage Ratio (%)130%132%
Number of data points used6363
1.Average LCR is calculated as a simple average of the daily observations over the quarter. Number of data points used is reported in the table.

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
23
APPENDICES
APPENDIX I – APS 330 QUANTITATIVE REQUIREMENTS
APPENDIX II – EXCHANGE RATES

24WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
APPENDIX I – APS 330 QUANTITATIVE REQUIREMENTS
APS 330 referenceWestpac disclosurePage
General requirements
Paragraph 51Tier 1 Capital, total exposures and leverage ratio9, 12
Attachment C:
Table 3: Capital adequacy(a) to (e)Capital requirements10
(f)Westpac’s capital adequacy ratios9
Capital adequacy ratios of major subsidiary banks9
Table 4: Credit risk(a)Exposure at Default by major type16
(b)Non-performing and past due loans by portfolio17
(c)Provisions held against performing exposures15
Table 5: Securitisation exposures(a)Banking book summary of securitisation activity by asset type19
(b)Banking book summary of on and off-balance sheet securitisation by
exposure type
20
Trading book summary of on and off-balance sheet securitisation by
exposure type
21
Attachment F:
Table 20: Liquidity Coverage Ratio
disclosure template
Liquidity Coverage Ratio disclosure22

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
25
APPENDIX II – EXCHANGE RATES
Exchange rates against A$
30 June31 March30 June
As at202420242023
USD0.66330.65280.6625
GBP0.52480.51670.5255
NZD1.09321.08921.0890
EUR0.62020.60330.6101

26WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
GLOSSARY

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
27
GLOSSARY
Credit Quality
Actual lossesRepresent direct write-offs and write-offs from provisions after adjusting for recoveries.
Australian accounting
standards (AAS)
A set of Australian reporting standards and interpretations issued by the Australian Accounting Standards Board.
Collectively assessed
provisions (CAPs)
Collectively assessed provisions for expected credit loss under AASB 9 represent the Expected Credit Loss (ECL)
which is collectively assessed in pools of similar assets with similar risk characteristics. This incorporates forward-
looking information and does not require an actual loss event to have occurred for an impairment provision to
be recognised.
Credit valuation adjustment
(CVA) risk
Refer to mark-to-market related credit risk.
DefaultFrom 1 January 2023: Refer to Non-performing exposures definition.
Defaulted but not impairedFrom 1 January 2023: Non-performing exposures that are not captured by the definition of impaired exposures
contained in this glossary.
Expected credit loss (ECL)Expected credit losses are a probability-weighted estimate of the cash shortfalls expected to result from defaults
over the relevant time frame. They are determined by evaluating a range of possible outcomes and taking into
account the time value of money, past events, current conditions and forecasts of future economic conditions.
Exposure at default (EAD)EAD is calculated at facility level and includes outstandings as well as the proportion of committed undrawn that is
expected to be drawn in the event of a future default.
Impaired exposuresIncludes exposures that have deteriorated to the point where full collection of interest and principal is in doubt,
based on an assessment of the customer’s outlook, cashflow, and the net realisation of value of assets to which
recourse is held:
•facilities 90 days or more past due, and full recovery is in doubt: exposures where contractual payments are 90
or more days in arrears and the net realisable value of assets to which recourse is held may not be sufficient
to allow full collection of interest and principal, including overdrafts or other revolving facilities that remain
continuously outside approved limits by material amounts for 90 or more calendar days;
•non-accrual facilities: exposures with individually assessed impairment provisions held against them, excluding
restructured loans;
•restructured facilities: exposures where the original contractual terms have been formally modified to provide
for concessions of interest or principal for reasons related to the financial difficulties of the customer;
•other assets acquired through security enforcement (includes other real estate owned): includes the value of
any other assets acquired as full or partial settlement of outstanding obligations through the enforcement of
security arrangements; and
•any other facilities where the full collection of interest and principal is in doubt.
Individually assessed
provisions (IAPs)
Provisions raised for expected credit losses on credit exposures that are known to be impaired and are assessed
on an individual basis. The estimated losses on these impaired exposures is based on expected future cash flows
discounted to their present value and, as this discount unwinds, interest will be recognised in the income statement.
Internal Ratings-Based
approach (IRB &
Advanced IRB)
These approaches allow banks to use internal estimates of the risks of their loans as inputs into the determination
of the amount of credit risk capital needed to support the organisation. In the Advanced IRB approach, banks must
supply their own estimates for all three credit parameters – Probability of Default, Loss Given Default and Exposure
at Default.
Loss given default (LGD)The LGD represents an estimate of the expected severity of a loss to Westpac should a customer default occur
during a severe economic downturn. Westpac assigns LGD to each credit facility, assuming an event of default has
occurred and taking into account a conservative estimate of the net realisable value of assets to which Westpac has
recourse and over which it has security. LGDs also reflect the seniority of exposure in the customer’s capital and
debt structure.
Mark-to-market related
credit risk
The risk of mark-to-market losses related to deterioration in the credit quality of a derivative counterparty also
referred to as credit valuation adjustment (CVA) risk.
Non-performing exposuresCredit exposures captured by the definition of default contained in APS 220, which occurs when either one, or
both, of the following has happened:
•Westpac considers that the borrower is unlikely to pay its credit obligations to Westpac in full, without recourse
to actions such as realising available security;
•the borrower is 90 days or more past-due on a credit obligation to Westpac.
Non-Performing Exposures
– Impaired
Exposures that meet the characteristics of Non-Performing exposures and Impaired exposures (see
separate definitions).
Off-balance sheet exposureCredit exposures arising from facilities that are not recorded on Westpac's balance sheet (under accounting
methodology). Undrawn commitments and the expected future exposure calculated for Westpac's derivative
products are included in off-balance sheet exposure.
On balance sheet exposureCredit exposures arising from facilities that are recorded on Westpac's balance sheet (under
accounting methodology).
Probability of default (PD)Probability of default is a through-the-cycle assessment of the likelihood of a customer defaulting on its financial
obligations within one year.

28WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
GLOSSARY
Capital Adequacy
Additional Tier 1
capital (AT1)
Comprises high quality components of capital that provide a permanent and unrestricted commitment of funds that
are freely available to absorb losses but rank behind claims of depositors and other more senior creditors. They also
provide for fully discretionary capital distributions.
Common equity Tier 1
(CET1) capital
The highest form of capital. The key components of common equity are shares, retained earnings and undistributed
current year earnings.
Interest rate risk in the
banking book (IRRBB)
The risk of loss in earnings or economic value in the banking book as a consequence of movements in interest rates.
Risk weighted
assets (RWA)
Assets (both on and off-balance sheet) are risk weighted according to each asset's inherent potential for default
and what the likely losses would be in case of default. In the case of non-asset backed risks (i.e. market and
operational risk), RWA is determined by multiplying the capital requirements for those risks by 12.5.
Tier 2 capitalIncludes other capital elements, which, to varying degrees, fall short of the quality of Tier 1 capital but still
contribute to the overall strength of an entity as a gone concern capital.
Value at Risk (VaR)VaR is a measure of the potential loss in economic value arising from adverse market movements and is calculated
over a defined time horizon (typically 1-day or 1-year) at a 99% confidence internal using a minimum of one year
of historical data. VaR takes account of all material market variables that may cause a change in the value of the
trading portfolio or the banking book including interest rates, foreign exchange rates, price changes, volatility, and
the correction among these variables.
Leverage Ratio
Leverage ratioThe leverage ratio is defined by APRA as Tier 1 capital divided by the “Exposure measure” and is expressed as a
percentage. “Exposure measure” includes on-balance sheet exposures, derivatives exposures, securities financing
transaction (SFT) exposures, and other off-balance sheet exposures.
Securitisation
Banking bookThe banking book includes all securities that are not actively traded by Westpac.
Trading bookTrading book activity represents positions in financial instruments, including derivative products and other off-
balance sheet instruments, that are held either with trading intent or to hedge other elements of the trading book.
Liquidity
Alternative Liquid
Assets (ALA)
Assets that qualify for inclusion in the numerator of the LCR in jurisdictions where there is insufficient supply
of HQLA.
Committed Liquidity
Facility (CLF)
Facility made available by the RBA to cover the shortfall in Australian dollars between the ADI's holding of HQLA
and net cash outflows, subject to qualifying conditions. The facility was phased out by 1 January 2023. The CLF was
treated as an ALA for the Group's LCR calculation.
Funding gapDifference between customer deposits and customer loans.
High-quality liquid
assets (HQLA)
Assets which meet APRA’s criteria for inclusion as HQLA in the numerator of the LCR.
Liquidity coverage
ratio (LCR)
An APRA requirement to maintain an adequate level of unencumbered high quality liquid assets, to meet liquidity
needs for a 30 calendar day period under an APRA-defined severe stress scenario. Absent a situation of financial
stress, the value of the LCR must not be less than 100%. LCR is calculated as the percentage ratio of stock of HQLA,
CLF and qualifying Reserve Bank of New Zealand securities over the total net cash out flows in a modelled 30 day
defined stressed scenario.
Net cash outflowsTotal expected cash outflows minus total expected cash inflows in the specified LCR stress scenario calculated in
accordance with APRA’s liquidity standard.
Term Funding
Facility (TFF)
A facility that was established by the RBA in March 2020 to provide 3 year term funding to Australian ADIs via
repurchase transactions, subject to qualifying conditions, to help support lending to Australian businesses. The
facility closed to new draw downs in June 2021.
Other
ADIAuthorised deposit-taking institution. ADIs are corporations that are authorised under the Banking Act 1959 to
carry on banking business in Australia.
APRAAustralian Prudential Regulatory Authority
APSAustralian Prudential Standards
CCBCapital Conservation Buffer
D-SIBsDomestic Systemically Important Banks
ELEExtended licensed entity. ELE's comprises of an ADI and any subsidiaries of the ADI that have been approved by
APRA as being part of a single ‘stand-alone’ entity.
FIRBFoundation Internal-Ratings Based Approach
G-SIBGlobal Systemically Important Banks
ICAAPInternal Capital Adequacy Assessment Process
RBAReserve Bank of Australia
RBNZReserve Bank of New Zealand
SMAStandardised Measurement Approach
WNZLWestpac New Zealand Limited

PILLAR 3 REPORTAPPENDICESGLOSSARY
DISCLOSURE
REGARDING FORWARD-
LOOKING STATEMENTS
29
DISCLOSURE
REGARDING
FORWARD-
LOOKING
STATEMENTS

30WESTPAC GROUP JUNE 2024 PILLAR 3 REPORT
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
The information contained in this report contains statements that constitute “forward-looking statements” within the
meaning of section 21E of the U.S. Securities Exchange Act of 1934.
Forward-looking statements are statements that are not historical facts. Forward-looking statements appear in a
number of places in this report and include statements regarding Westpac’s current intent, belief or expectations with
respect to its business and operations, macro and micro economic and market conditions, results of operations and
financial condition and performance, capital adequacy and risk management, including, without limitation, future loan
loss provisions and financial support to certain borrowers, forecasted economic indicators and performance metric
outcomes, indicative drivers, climate- and other sustainability- related statements, commitments, targets, projections and
metrics, and other estimated and proxy data.
Words such as ‘will’, ‘may’, ‘expect’, ‘intend’, ‘seek’, ‘would’, ‘should’, ‘could’, ‘continue’, ‘plan’, ‘estimate’, ‘anticipate’,
‘believe’, ‘probability’, ‘indicative’, ‘risk’, ‘aim’, ‘outlook’, ‘forecast’, ‘f’cast’, ‘f’, ‘assumption’, ‘projection’, ‘target,’ goal’,
‘guidance’, ‘ambition’ or other similar words are used to identify forward-looking statements, or otherwise identify
forward-looking statements. These forward-looking statements reflect Westpac’s current views on future events and are
subject to change, certain known and unknown risks, uncertainties and assumptions and other factors which are, in many
instances, beyond Westpac’s control (and the control of Westpac’s officers, employees, agents and advisors), and have
been made based on management’s expectations or beliefs concerning future developments and their potential effect
upon Westpac.
Forward-looking statements may also be made, verbally or in writing, by members of Westpac’s management or Board
in connection with this report. Such statements are subject to the same limitations, uncertainties, assumptions and
disclaimers set out in this report.
There can be no assurance that future developments or performance will align with Westpac’s expectations or that
the effect of future developments on Westpac will be those anticipated. Actual results could differ materially from
those Westpac expects or which are expressed or implied in forward-looking statements, depending on various factors
including, but not limited to, those described in the section titled ‘Risk factors’ in Westpac’s 2024 Interim Financial
Results Announcement. When relying on forward-looking statements to make decisions with respect to Westpac,
investors and others should carefully consider such factors and other uncertainties and events.
Except as required by law, Westpac assumes no obligation to revise or update any forward-looking statements in this
report, whether from new information, future events, conditions or otherwise, after the date of this report.

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