Westpac 2025 Presentation and Investor Discussion Pack
ASX RELEASE
Westpac Banking Corporation
Level 18, 275 Kent Street
Sydney, NSW, 2000
3 November 2025
Westpac 2025 Presentation and Investor Discussion Pack
Westpac Banking Corporation (“Westpac”) today provides the attached Westpac 2025
Presentation and Investor Discussion Pack.
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.
PRESENTATION
ANDINVESTOR
DISCUSSIONPACK
WESTPAC
2025 FULL YEAR FINANCIAL RESULTS
FOR THE 12 MONTHS ENDED 30 SEPTEMBER 2025
1
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack2
WESTPAC
2025 FULL YEAR
RESULTS INDEX
2025 Full Year Results Presentation3
Investor Discussion Pack36
Earnings drivers39
UNITE50
Credit quality and provisions53
Capital, funding and liquidity76
Supporting our customers88
Segment results99
Sustainability106
Economics112
Appendix118
Contact us124
Disclaimer125
Westpac Banking Corporation ABN 33 007 457 141
ANTHONY MILLER
Chief Executive Officer
OPERATING
MOMENTUM
EXECUTION
FOCUS
FINANCIAL
STRENGTH
1 Figure includes foregone fee revenue and commercial sponsorships. 2 In FY25, Westpac Group provided support to the Westpac Community Trust and the Westpac Buckland Fund (known as the Westpac Foundation),
Westpac Scholars Trust and the St George Foundation Trust (known as St George Foundation, BankSA Foundation and the Bank of Melbourne Foundation). While Westpac was involved in establishing these foundations,
they are non-profit organisations that are separate to the Westpac Group. The trustee of St George Foundation Trust (St George Foundation Limited) is a related body corporate of Westpac. 3 Refer to the 2025
Sustainability Index and Datasheet for information.
SUPPORTING COMMUNITIES
$199m
in community
investment
1
100
scholarships awarded
each year
2
65,538
hours volunteered
by employees
>500
charities supported
via employee donations
FINANCIAL LITERACY
programs in Australia,
New Zealand and the Pacific
$56.1m
spent with
diverse suppliers
3
~$350m
cost to support
cash services
$11m
contributed by the
Westpac and Regional
Foundations
2
$3.5bn
income tax expense
and bank levy
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack5
FY25 FINANCIAL PERFORMANCE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack6
1 Refer to page 20 for statutory net profit. Net profit ex Notable Items, ROTE ex Notable Items and cost to income ex Notable Items are used for internal management reporting as they better reflect underlying
performance and are not defined by nor audited or reviewed in accordance with Australian Accounting Standards (AAS). These non-AAS measures are identified and described in the ‘Introduction – Non-AAS financial
measures’ section in the 2025 Annual Report.
$7.0bn
Net profit
ex Notable Items
1
2% to FY24
84.9%
Deposit to
loan ratio
137bps to FY24
7%
Deposit
growth
to $723bn
153
FY25 ordinary
dividends
1% to FY24
11.0%
ROTE
ex Notable Items
1
24bps to FY24
53.0%
Cost to income ratio
ex Notable Items
1
3ppts to FY24
6%
Loan
growth
to $856bn
12.5%
CET1
capital ratio
4bps to FY24
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack7
MEASURING PROGRESS
1 For definitions see page 122. 2 Coalition Greenwich Voice of Client 2025 Australia Large Corporate Relationship Banking Study. 3 Cumulative spend Oct-23 to Sep-25. 4 Excludes Notable Items. 5 Based on 1H25.
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 2025 Annual Report and elsewhere in this presentation.
SERVICE
EXCELLENCE
ONE
BEST WAY
PERFORM
MetricSep-25Sep-29 Target
Consumer: NPS
1
=#2
#1
Business: NPS
1
#3
#1
Institutional: RSI
2
=#3
#1
Complete UNITE on timeIn progress
Complete
Complete UNITE on budget$807m
3
~40%
of total investment
over FY25 to 1H29
Employee engagement
80
(top quartile)
Top decile
Cost to income ratio
relative to peers
4
3.7ppts above
5
Less than
peer average
Return on tangible equity relative to peers
4
1.5ppts below
5
Greater than
peer average
STRATEGIC PRIORITIES
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack8
PERFORMANCE
Improve ROTE and cost to
income relative to peers
Improve market position
CUSTOMER
Whole of bank to
customer approach
Improve customer
experience
PEOPLE
Attract, retain and invest
Externally focused,
accountable and
empowered
TRANSFORMATION
UNITE
Innovate to improve
customer outcomes and
efficiency
RISK
Sustain and strengthen
risk culture
Managing risk as a
differentiator
IMPROVING CUSTOMER SERVICE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack9
1 Time to decision. 12 month median (50th percentile) time to unconditional approval. 2 Financial Markets onboarding for Commercial customers. 3 The Forrester Digital Experience Review: Australian Mobile Banking
Apps, Q3 2025, Q3 2024 and Q3 2023.
<5 DAYS
Mortgage TTD
1
<5 MINS
Business transaction
account set up
In time to
trade
2
30%
#1 MOBILE APP
3
Forrester #1 Banking App in Australia
2023, 2024 and 2025
NEW
Regional banking
service centres
To support female entrepreneurs
$1BN
$360M
In potential customer
losses prevented
SAFECALL
Rolled out to
1m customers
Launched
SAFEBLOCK
in Business, c.40% onboarded
in WIB, c.60% onboarded
in Consumer, c.40% onboarded
INVESTING IN OUR PEOPLE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack10
ATTRACTING AND RETAINING TALENTVALUE PROPOSITION
•New leadership program including dedicated female
advancement programs
•Business Performance Academy relaunched –
35k hours in professional development completed
•Expanded employee banking, health and leave benefits
Investing in front line bankers
Organisational Health Index
1 Australian HR Awards. 2 Senior Leadership includes Executive Team, General Managers and their direct reports (excluding administrative or support roles). 3 Excludes involuntary.
75
8080
FY23FY24FY25
•Refreshed Executive leadership team
•‘Employer of Choice’ award for large organisations
1
•49% women in leadership
2
•92%
3
employee retention
~80
~180
~350
STRONG DEPOSIT GROWTH
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack11
1 Compared to Sep-24. 2 ADI System published by APRA in the Monthly ADI statistics. 3 Business & Wealth segment. 4 For further details see page 122.
8.3
(10.2)
(10.9)
(0.3)
WestpacPeer 1Peer 2Peer 3
•Transaction account growth 6%
1
•Ability to apply for a transaction
account before arriving in Australia
•Transaction account growth 13%
1
•OnlinePay launched in Apr-25 –
1,000 businesses onboarded
•Public sector deposit growth 11%
1,2
•Strong growth in corporate deposits
119
-45
18
-171
WestpacPeer 1Peer 2Peer 3
30
4
23
23
WestpacPeer 1Peer 2Peer 3
$366bn$152bn$131bn
CONSUMER DEPOSITSBUSINESS DEPOSITS
3
INSTITUTIONAL DEPOSITS
up 10%
1
up 6%
1
up 10%
1
Household growth
2
($bn)FY25 change in Business MFI
4
(bps)Public sector market share
2
(%)
22%
24%
17%
BUSINESS & INSTITUTIONAL LENDING MOMENTUM
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack12
1 Business & Wealth segment. 2 Compared to Sep-24. 3 IJ Global league table database, Australia, 12 months to 30 September 2025.
$115bn
•69% of new lending with existing customers
•Investing to grow proprietary lending
•Stressed exposures to TCE down 43bps to 4.81%
$118bn
19%
19%
31%
30%
2%
Consumer & Industrials
Energy, Infrastructure &
Resources
Financial Institutions &
Government
Real Estate & Health
•78% of new lending with existing customers
•#1 in renewable energy financing
3
•Stressed exposures to TCE down 6bps to 0.70%
Agriculture
Health
Professional
services
up 15%
2
up 17%
2
Charts may not add due to rounding
BUSINESS LENDING
1
INSTITUTIONAL LENDING
Growth in target sectorsDiversified portfolio
Improved service across all channels
MORTGAGES: BALANCING GROWTH AND RETURN
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack13
Targeted growth
•Targeting higher returning segments and channels
–Investor lending flow up c.4ppts
–<80% LVR lending flow up c.3ppts
•Continuing to improve service and efficiency
–Unit costs down
–RWA optimised
5.6
5.2
4.6
9.7
5.8
5.0
FY23FY24FY25
$450bn
$473bn
$497bn
0.9x
1.2x
0.8x
FY23FY24FY25
IMPROVING PROPRIETARY PERFORMANCE
•Investing in an additional 180 Home Finance Managers
•Reward and recognition revised
•‘Book a Banker’ launching in early 2026
•Optimising lead quality
•Brand investment driving higher consideration
This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.
1 Westpac ex. RAMS. 2 Sep-24. 3 12-month median (50th percentile) time to unconditional approval.
ProprietaryThird party
BalanceSystem multiple
2
Time to Decision by channel (days)
3
Mortgages
1
UP 5%
UNITE: ONE BEST WAY
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack14
This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.
1 Total investment expected to be c.$2bn p.a.
•Scope set
•Single deposit ledger decision impacts incorporated
•Downstream impacts and interdependencies scoped
•Plan extends into FY29
PROGRAM
DISCOVERY
COMPLETE
•Expect to invest $850 - $950 million in FY26
•c.40% of total investment spend
1
FY27 – FY28
•Lower spend in FY29
•c.75% of spend to be expensed
INVESTMENT
SPEND
•Centralised UNITE delivery team c.1,600 people
–Common skillsets and capability
–Clearer accountabilities
•Initiatives amalgamated into 10 work packages
•Program structure and delivery approach designed to
–Manage challenges as they arise
–Optimise cadence and capacity
PROGRAM IN
EXECUTION
BOARD
Active Director engagement through
Directors oversight working group
and regular Board reporting at every
meeting
EXECUTIVE LEADERSHIP
Weekly CEO meeting – risk and
performance tracking to committed
outcomes
PROGRAM LEADERSHIP
A team of functional experts focused
on initiative delivery with external
partners providing technical advice to
support the program and Board
DELIVERY
Business accountable for outcomes
GOVERNANCE
UNITE: ONE BEST WAY
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack15
FY25 achievementsProgram status
•$660m invested in FY25, 76% expensed
•8 initiatives complete
•51 initiatives underway, initiative status
1
:
–13 scope confirmed
–20 Green
–13 Amber
–5 Red
Percentage complete by project stage
This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.
1 Status rating changes with the identification and resolution of issues.
DISCOVERY
SIMPLIFY
17%
of
initiatives
15%
of
initiatives
IMPLEMENT
DECOMMISSION
8%
of
apps
Program
scope
•One chat platform – Consolidated 2 platforms to 1
•Extended functionality for multiple offset accounts
•6,000 additional bankers migrated onto Digital Banker
•Transitioned customers to a single Private Bank
•One Trade Finance system for Institutional clients
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack16
Expected outcomes
1
Achievements to date
BIZEDGE: FAST, SIMPLE, DIGITAL
LENDING ORIGINATION
1 These expected outcomes contain ‘forward-looking statements’ and are subject to assumptions, risks and other important information in the
Disclaimer on page 125. 2 Time to decision. 3 Company and Personal Property Securities Register (PPSR) searches.
Reduce banker loan
processing time by
~50%
Reduce TTD
2
by
~60%
Decommission Legacy
systems and tools
27+
BANKER BENEFITS
•
Guided processes
•
Automated searches
3
•
Streamlined document management
CUSTOMER BENEFITS
•
Digital experience
•
Reduces customer input by 50%
•
Real time application tracking
2
releases
>5k
applications
$4.8bn
New lending
>1hr
banker time saved
per application
~45%
TTD
2
reduced
5
systems and tools
removed
Total Investment
FY24 to FY29
c.$300m
WESTPAC ONE - NEXT GENERATION BANKING CAPABILITY
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack17
Expected outcomes
1
FY25 achievementsWestpac One platform launch Dec-25
1 These expected outcomes contain ‘forward-looking statements’ and are subject to assumptions, risks and other important information in the Disclaimer on page 125. 2 Including Westpac One mobile app, eTokens and
eSignatures. 3 Domestic payment scheme.
Leading
transaction
banking capability
Enhanced
digital
experience
Revenue
growth
Operational
risk
reduced
INVESTMENT COST
c.$400m
PROGRESSIVE THREE
YEAR ROLLOUT
•Integrated accounts, payments and FX risk
management to be rolled out to FX customers
•Real time Treasury management pilot with small
number of pilot clients
REAL-TIME
DEPOSIT
LEDGER LIVE
CONNECTED TO
THE NPP
3
PROJECT ON TIME AND ON BUDGET
FXTreasury
WESTPAC ONE PLATFORM
NEW DIGITAL
EXPERIENCE
2
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack18
AI is delivering
•Leveraging data from 251 systems in one place
to deliver smarter decisions
•5x faster to deploy models so we can better
anticipate customers’ needs
•Conversational intelligence supporting bankers
to deliver excellence in customer service
Westpac Intelligence Layer
AI: ENABLING DEEPER CUSTOMER
RELATIONSHIPS
JESS AI ASSISTANT
Helps spot scams in real time
Assisted >20k calls
MORTGAGE AI ASSESSOR
Faster lending decisions
Supporting 700 assessors
GEN AI TOOLS
Transforming how we work
Used by >15,000 employees
AI SHARK TANK
1,200 ideas to improve customer experience,
productivity & knowledge management
DELIVERING A
SMARTER, SAFER AND
MORE PRODUCTIVE
BANK WITH AI
NATHAN GOONAN
Chief Financial Officer
FY25 FINANCIAL PERFORMANCE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack20
FY24FY25Change
Net profit$6,990m$6,916m(1%)
Notable Items ($123m)($56m)(54%)
Excluding Notable Items:
Net profit$7,113m$6,972m(2%)
Earnings Per Share 204c204cFlat
Revenue$21.8bn$22.5bn3%
Expenses($10.9bn)($11.9bn)9%
Expenses excluding restructuring charge($10.9bn)($11.6bn)6%
Pre-provision profit $10.8bn$10.5bn(3%)
Impairment charges to average loans annualised 7 bps5 bps(2 bps)
1H25 – 2H25 NET PROFIT EXCLUDING NOTABLE ITEMS ($M)
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack21
1 Excludes the restructuring charge. 2 Non-controlling interests.
3,607
3,457
335
143
76
3,515
(247)
(273)
24
2H241H25Net interest
income
Non-interest
income
ExpensesRestructuring
charge
Impairment
charges
Tax
& NCI
2H25
Pre-provision profit 1% lower,
4% higher ex restructuring charge
2% HIGHER, 7% HIGHER EX RESTRUCTURING CHARGE
4% LOWER
2
1
DEPOSIT GROWTH ($BN)
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack22
Chart may not add due to rounding.
1 Includes Treasury.
673.6
696.8
15.3
4.0
9.2
723.0
(2.4)
Sep-24Mar-25ConsumerBusiness
& Wealth
InstitutionalNew Zealand
(in A$)
Sep-25
UP 3%
UP 4%
Up $0.1bn
in NZ$
1
GROSS LOANS ($BN)
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack23
Chart may not add due to rounding.
1 Australian, excluding RAMS.
811.3
829.4
12.4
8.5
10.6
856.4
(0.5)
(0.3)
(4.0)
Sep-24Mar-25MortgagesBusinessInstitutionalNew
Zealand
(in A$)
PersonalRAMSSep-25
Up $3.0bn
in NZ$
UP 2%
UP 3%
1
NET INTEREST MARGIN (%)
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack24
This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.
1 Excludes benefit from $10bn increase in deposit hedge (+3bps) which is offset by a reduction in non hedged balances (-3bps). Based on market implied 3 and 5 year swap rates trajectory as of 30 September 2025.
2 Based on 30-Sep-25 balances. 3 Based on 30-Sep-25 rates and balances.
1.83
1.80
1.82
0.13
0.12
0.13
1.96
1.92 --
3bps
-
1bps1.95 (1bps)
2H241H25LoansDepositsLiquid
assets
Capital
& Other
Wholesale
funding
Treasury
& Markets
2H25
Core NIM up 2bps
NZ mortgages 1bp
Auto finance (1bp)
Mortgages & Business <(1bp)
Consumer savings reprice 3bps
Replicating portfolio 2bps
RBA rate changes (2bps)
Spread & mix (3bps)
Replicating portfolio 1bp
Non hedged capital & other (2bps)
•25bps RBA rate cut on unhedgedlow rate deposits
and capital: ~1bp
2
annualised
•5bps move in 3mth Bills/OIS: ~1bp
3
annualised
Core NIM
Treasury & Markets
•Hedged deposits up $3bn in Sep-25 and $7bn in Oct-25
•Net replicating portfolio benefit ~1bps
1
SensitivitiesKey considerations 1H26
NON-INTEREST INCOME
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack25
Non-interest income by type ($m)
830
845
887
223
234
242
329
345
438
1,382
1,424
1,567
2H241H252H25
Fees
WealthTrading and other
UP 3%
UP 10%
INVESTMENT SPEND
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack26
Investment spend ($m)
This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.
Investment spendFY24FY25
Total expensed56%60%
Capitalised software balance ($m)2,6752,414
Amortisation expense ($m)889995
1,059
695
550
563
147
660
1,756
1,918
FY24FY25
Risk &
regulatory
Growth &
productivity
UNITE
UNITE, growth & productivity up 75%
Risk & reg. down 34%
•Investment spend ~$2bn
•Increase in UNITE spend to $850m - $950m, ~75%
expensed
•Expect reductions in both growth & productivity and
risk & regulation spend
•Increase in amortisation expense to moderate
UP 9%
Key considerations for FY26
10,944
397
146
199
359
273 11,916
(402)
FY24Staff costsTechnologyVolume and otherProductivityInvestmentsRestructuring
charge
FY25
FY25 EXPENSES ($M)
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack27
This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.
9% INCREASE
Simpler operating model
Reduced property footprint
Digitisation
UNITE investment $399m
Amortisation up $106m
Lower investment ex UNITE
6% increase ex restructuring
•EBA increase 3% to 4% and investment in bankers
•Increase in UNITE spend
•Fit for Growth benefits to contribute to targeted productivity of >$500m in FY26
Key considerations for FY26
Salary and EBA increases
Superannuation increase
Investment in bankers
CREDIT QUALITY
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack28
Stressed exposures as a % of TCE
0.160.16
0.15
0.47
0.37
0.32
0.23
0.28
0.30
0.59
0.54
0.51
1.45
1.36
1.28
Sep-24Mar-25Sep-25
Australian mortgage delinquencies (%)
0.73
1.24
0.00
1.00
2.00
3.00
4.00
Sep-21Sep-22Sep-23Sep-24Sep-25
90+ day
delinquencies
30+ day
delinquencies
Corporate and business stressed exposures by industry sector (%)
ImpairedNon-performing, 90+ days
Non-performing, <90 daysWatchlist & substandard
% of non-
retail TCE
19%7%
6%
6%6%5%3%3%
0.0
2.0
4.0
6.0
PropertyWholesale &
retail trade
ServicesAgriculture,
forestry & fishing
ManufacturingTransport
& storage
ConstructionAccommodation
cafes & restaurants
Sep-24Mar-25Sep-25
CAP to credit RWA of 1.25%, down 1bps
CAP $12m lower, key movements
•Commercial property prices & interest rate outlook
•Reduction in mortgage delinquencies
•Overlays increased $108m
•2.5ppt increase in downside scenario weight
IAP decreased $72m due to a single name write-off
Impairment charges remain low, 4bps of average loans
IMPAIRMENT PROVISIONS $1.9BN ABOVE BASE CASE ($M)
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack29
1 Forecast date: 18 September 2025.
Forecasts for
base case ECL
1
Base caseDownside
20252026
Trough /
peak
GDP growth1.9%2.4%(6%)
Unemployment4.4%4.5%11%
Residential property prices5.6%9.0%(27%)
Commercial property prices0.9%3.8%(32%)
536
611
539
1,223
1,198
1,190
2,390
2,256
2,087
768
877
933
179
130
238
5,096
5,072
4,987
Sep-24Mar-25Sep-25
Overlays
Stage 1 CAP
Stage 2 CAP
Stage 3 CAP
Stage 3 IAP
FUNDING AND LIQUIDITY
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack30
Sources and uses of funds ($bn)LCR deposit mix (%)
Deposit to loan ratio (%)
82.9%
83.5%
84.9%
Sep-23Sep-24Sep-25
LCR and NSFR (%)
137
113
LCR
4Q25 Avg
NSFR
Sep-25
Regulatory
minimum 100%
35
35
14
16
Stable retail and SME deposits
Less stable retail and SME deposits
Operational deposits
Non-operational deposits
$555bn
49
28
4
(45)
(36)
DepositsLendingLong term
issuance
Short term
funding
Long term
maturities
4(4)
12.24
80bps
16bps
12.53
(58bps)
(7bps)
(2bps)
Mar-25Net profit1H25
dividend
RWAOtherCapital returnSep-25
STRONG CAPITAL
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack31
CET1 capital ratio %
1 Capital deductions and other items including FX translation impacts. 2 Remaining on market share buyback previously announced in Nov-23, May-24 and Nov-24.
Lending (34bps)
Data refinement 16bps
Credit quality & other 6bps
IRRBB 5bps
Share buyback: $0.1bn
1
•IRRBB standard changes 39bps
•Operational risk overlay removal 17bps
Adjustments post 30-Sep-25
•Share buyback
2
(23bps)
•Standardised floor met
Other considerations
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack32
CAPITAL MANAGEMENT
1 Remaining on market share buyback previously announced in Nov-23, May-24 and Nov-24.
2 Annualised, based on final dividend and 30-Sep-25 closing price of $38.97.
Ordinary dividends per share (cents)
70
75
76
72
76
77
142
151
153
FY23FY24FY25
New target CET
1
capital ratio
>11.25%
FY25 payout
ratio of
75%
Target payout
ratio range
65 - 75%
Dividend yield
3.94%
2
Fully franked
5.63%
2
Neutralise
DRP
Capital above target
after 2H25 dividend
$3.1bn
ANTHONY MILLER
Chief Executive Officer
IMPROVING OPERATING ENVIRONMENT
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack34
Consumer
Australian economics
1
Business industry cashflow gauge
This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.
1 Source: Westpac DataX, Westpac Economics.
2025F2026F
GDP2.1%2.4%
Housing credit6.6%6.5%
Business credit9.0%7.2%
•GDP recovering towards trend growth
•Real household disposable income on the rise
•Demand for credit robust
•Ongoing trade and geopolitical tension
•Uneven transition from public to private sector activity
•Productivity growth remains elusive
Westpac insights
1
OPPORTUNITIES
RISKS
8.4%
GROWTH IN TOTAL
SAVINGS BALANCES
Sep-25, annual change
6.5%
GROWTH IN CARD
SPENDING
Quarterly, annual change
4.8
3.8
3.7
-0.8
-1.5
-2.6
Annual % change
Transport
& Storage
Manuf.
Business
Services
Agri.Health
Rec.
Services
Most improved
Least improved
EXECUTION FOCUS – RIGHT PORTFOLIO MIX
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
CONSUMERINSTITUTIONALNEW ZEALANDBUSINESS & WEALTH
.
DELIVER TRANSFORMATION AGENDA, INCLUDING UNITE
35
This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.
33%
Contribution
to net profit
31%
Contribution
to net profit
23%
Contribution
to net profit
16%
Contribution
to net profit
Personalised,
digital-first experiences
Deepen customer
relationships
Grow proprietary
lending
Continue lending
momentum
Leverage transaction
banking capability
Expand banker presence,
training and expertise
Invest in expert
bankers
Deepen client
relationships
Rollout Westpac One
Improve position
and returns
Personalised,
digital-first experiences
Target growth in
business lending
35
INVESTOR
DISCUSSION PACK
CREATING VALUE FOR OUR SHAREHOLDERS, CUSTOMERS,
OUR PEOPLE, COMMUNITY AND THE ENVIRONMENT IN FY25
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack37
1 The Forrester Digital Experience Review: Australian Mobile Banking Apps, Q3 2025. 2 Senior leadership includes executive team, general managers and their direct reports (excluding administrative or support roles).
3 Full time equivalent at 30 Sep-25. 4 Excluding restructuring charge. 5 Refer to the FY25 Sustainability Index and Datasheet for more information on the definitions and additional metrics. 6 Scholarships were awarded
by Westpac Scholars Trust. Westpac Group provides support to Westpac Scholars Trust. While Westpac was involved in establishing this trust, it is a non-profit organisation that is separate to the Westpac Group
OVERVIEW
$6.9bn
Net Profit, down 1% on
FY24
13 million
Customers across
the Group
80
Organisational Health
Index in global top
quartile
65,538
Hours volunteered by
Westpac employees
89%
Reduction in scope
1 and 2 emissions from
our 2021 baseline
5
#1
Mobile Banking App
1
49%
Women in senior
leadership
2
$3.5bn
Income tax expense,
including the bank levy
$5.2bn
To be returned to
shareholders via
dividends
+$45bn
Loans
35,236
Employees
3
$56m
Spent with diverse
suppliers
5
37%
Increase in sustainable
finance lending
5
11.0%
Return on tangible equity
ex Notable Items, down
24 bps
+$49bn
Customer deposits
$6.3bn
Paid in salaries
4
100
New scholarships
awarded in FY25
6
42%
Reduction in scope
3 upstream emissions
since 2021
5
40%
Increase in sustainable
bond facilitation
5
SHAREHOLDERSCUSTOMERSOUR PEOPLECOMMUNITYENVIRONMENT
$7.0bn
Net Profit ex Notable
Items, down 2% on FY24
OUR PEOPLE – STRENGTHENING INCLUSION, DIVERSITY AND WELLBEING
38
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
PEOPLE
1 40% women, 40% men and 20% of any gender. Westpac Board includes CEO. Executive team excludes CEO. 2 Senior leadership includes executive team, general managers and their direct reports (excluding
administrative or support roles). 3 Our Voice+ survey includes McKinsey's Organisational Health Index – benchmarking Westpac’s organisational health relative to global standards.
•Our Australian workforce identifying as
Aboriginal and/or Torres Strait Islander increased
to 1.15% at Sep-25 (Target: 1.5%)
•Our new RAP focuses on stronger leadership,
retention, and long-term career growth for
Indigenous employees. Our latest RAP is
available on our website
Organisational Health Index (OHI) score
3
Chief Mental Health Officer overseeing
Groupmental health strategysince 2018
Mental Health Workplace Factors Review
completed across Australian operations. Ongoing
and targeted psychosocial risk assessments
incorporated
10 Employee Advocacy Groups supporting
inclusion, diversity and wellbeing
•Supported 20 culturally diverse women with a
dedicated program to advance their leadership
•Launched a new e-learning in NZ to help our
people build cultural confidence and better
understand Māori and Iwi customers and
communities
•Cultural Diversity Shadowing program had
180+ participants in FY25
•Over 20 teams participated in training to improve
ability to speak-up against exclusionary
behaviours. Our Upstander Initiative
•Increased gender affirmation leave to 6 weeks;
introduced family pathways leave; doubled
Culture, Lifestyle & Wellbeing leave to 4 days
INDIGENOUS REPRESENTATION
Focus on reducing gender pay gap by improving
gender diversity at all levels. Focus on increasing
female representation in Technology, Finance,
Institutional and Business Bank
Targeted initiatives:
•Illuminate program to develop aspiring female
leaders. Every General Manager sponsors one
participant
•New StepUP program launched to support career
progression for women in mid-level roles. 220
participated in FY25
•New Career Sprints initiative – connecting women to
new areas in the bank, commenced with the
institutional bank
SUPPORTING MENTAL HEALTHOTHER INITIATIVES
ORGANISATIONAL HEALTH
Females %Sep-25TargetProgress
Westpac Board3640:40:20
1
Executive Team5040:40:20
1
✓
General Managers3740 +/-2%
Senior Leadership
2
4950 +/-2%
✓
Westpac workforce5450
✓
GENDER DIVERSITY
Median gender pay gap for total reward reduced by
1.2% to 28.1%.
74
7575
8080
Sep-21Sep-22Sep-23Sep-24Jun-25
A new employee engagement survey has replaced
OHI. Progress will be reported from FY26.
EARNINGS DRIVERS
7,113
557
144
113
176,972
(972)
FY24Net
interest
income
Non
interest
income
ExpensesImpairment
charges
Tax &
NCI
FY25
FY25 NET PROFIT
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack40
Net profit FY24 – FY25 ($m)
1 Non-controlling interests.
EARNINGS
DOWN 2%
Higher card fees,
Institutional lending fees,
markets and net wealth
income
AIEA up 3% due to loan growth,
Core NIM down 1bp,
Treasury & Markets NIM flat
1
Higher UNITE costs, salaries and
wages and restructuring charge,
partly offset by productivity
initiatives
3,457
335
143
76
243,515
(520)
1H25Net
interest
income
Non
interest
income
ExpensesImpairment
charges
Tax &
NCI
2H25
2H25 NET PROFIT
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack41
Net profit 1H25 – 2H25 ($m)
1 Non-controlling interests.
EARNINGS
UP 2%
Higher UNITE costs, salaries and
wages and restructuring charge,
partly offset by productivity
initiatives
Higher Markets income including
rates and foreign exchange, and
higher card fees
AIEA up 1% due to loan growth,
Core NIM up 2bps,
Treasury & Markets NIM up 1bp
1
NET PROFIT EXCLUDING NOTABLE ITEMS AND NET PROFIT RECONCILIATION
42
Net profit excluding notable items policyReported net profit and net profit excluding
notable item adjustments ($m)
EARNINGS
Notable Items
($m after tax)FY24FY251H252H25
Asset sales and revaluations----
Provisions for remediation, litigation, fines
and penalties
----
Restructuring costs----
Asset write-downs----
Hedging items(123)(56)(140)84
Total Notable Items(123)(56)(140)84
FY24FY251H252H25
Statutory net profit6,9906,9163,3173,599
Hedging items(123)(56)(140)84
Net profit excluding Notable Items7,1136,9723,4573,515
Earnings per ordinary share – ex Notables204.4203.6100.8102.8
Earnings per ordinary share – statutory200.9201.996.7105.2
•Net profit excluding Notable Items is a non-AAS
financial performance measure used by Westpac for
internal management reporting, as it provides a clearer
view of the Group’s underlying operational performance
•This measure is not defined under Australian
Accounting Standards, nor is it audited or reviewed in
accordance with Australian Auditing Standards and
therefore does not represent a statutory financial metric
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
674
697
14
7
5
3723
(2)
Sep-24Mar-25Term
deposits
SavingsTran-
saction
Mortgage
offset
Non-
interest
bearing
Sep-25
856
17
811
829
12
0
0
2
(4)
Sep-24Mar-25HousingPersonalBusiness
and WIB
NZ
(in A$)
Other
overseas
(in A$)
RAMSSep-25
5923
18
Households
Businesses
Institutional
GROUP LOANS AND DEPOSITS
43
Composition of gross loans (% of total)
Composition of customer deposits (% of total)
Movement in gross loans ($bn)Movement in customer deposits ($bn)
1 Only includes Australian lending. 2 Increase in local currency was NZ$3.0bn.
EARNINGS
$723bn
UP 6%
UP 3%
61
13
13
1
7
4
1
Australian mortgages
Australian business
Institutional
Australian personal
New Zealand mortgages
New Zealand business/other
Other overseas
$856bn
2
1
UP 7%
UP 4%
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
577
584
12
0
592
0
(4)
Sep-24Mar-25Australian
mortgages
NZ
mortgages
(in A$)
PersonalRAMSSep-25
265
0
11
234
245
9
Sep-24Mar-25Australian
business
NZ
business
(in A$)
InstitutionalSep-25
GROWTH IN LENDING
44
Mortgages and personal lending ($bn)Business and institutional lending ($bn)
Australian mortgages ($bn)
503
510
38
3
519
(20)
(9)
(4)
Sep-24Mar-25New loans
ex
refinance
Net
refinance
Property
sales and
others
PaydownsRAMSSep-25
Australian housing credit growth (%)
1 Increase in local currency was NZ$1.8 billion. 2 Increase in local currency was NZ$1.2 billion.
REVENUE
UP 13%
UP 8%
2
UP 3%
UP 2%
UP 2%
UP 1%
1
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
Sep-23Mar-24Sep-24Mar-25Sep-25
Westpac (ex. RAMS)ADI system
Charts may not add due to rounding
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
50%
50%
51%
21%
21%
21%
18%
18%
18%
11%
11%
10%
Sep-24Mar-25Sep-25
ConsumerBusiness & WealthInstitutional & TreasuryNew Zealand
29%
29%
27%
32%
33%
34%
18%
18%
18%
9%
10%
10%
11%
11%
11%
Sep-24Mar-25Sep-25
Term depositsSavingsTransactionMortgage offsetNIB deposits
GROWTH IN DEPOSITS
45
Customer deposits by type (%)
Customer deposits by segment (%)
Australian household deposit growth (%)Australian household savings deposit mix (%)
2
1 Non-interest bearing. 2 Mix of Consumer savings accounts. Behavioural savings largely reflects Westpac Life and St.George Incentive Saver, other savings largely reflects Westpac E-saver and St.George Maxi.
REVENUE
1
723697674
723
697674
-1.0%
0.0%
1.0%
2.0%
3.0%
Sep-23Mar-24Sep-24Mar-25Sep-25
WestpacADI System
80%
85%
88%
20%
15%
12%
139
159
180
Sep-23Sep-24Sep-25
Behavioural savingsOther savings
84% of behavioural saving balances achieve the bonus rate
Charts may not add due to rounding
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
1.83
1.80
1.82
0.13
0.12
0.13
1.96
1.92 --
3bps
-
1bp1.95 (1bp)
2H241H25LoansDepositsLiquid
assets
Capital
& Other
Wholesale
funding
Treasury
& Markets
2H25
Core NIMTreasury & Markets
NET INTEREST MARGIN
46
Net interest margin (%)
Replicating portfolio (RP) and equity hedge (%)
Australian deposit balances
2
by interest rate
bands ($bn)
1 Balance on equity and non-rate sensitive deposits at EOM Sep 25 to be earnt at the end of October 2025. The moving average hedge rate on equity and non-rate sensitive deposits. Spot rate represents the average rate
for September 2025. 2 A$ balances and excludes mortgage offset balances.
REVENUE
Composition of NIM (%)
FY24FY251H252H25
Core NIM1.821.811.801.82
Treasury & Markets0.130.130.120.13
NIM1.951.941.921.95
≤25bps26≤200bps201≤400bps401bps+
Sep 25
balance
FY25 avg
rate
1
Spot rate
1
Investment
term
Equity hedge$56bn3.65%3.77%3 years
Domestic deposit hedge$77bn3.51%3.65%5 years
73
77
49
331
75
78
73
319
101
57
158
252
Sep-24Mar-25Sep-25
0.0
2.0
4.0
6.0
Sep-21Sep-22Sep-23Sep-24Sep-25
RBA Official Cash Rate
3M BBSW
Equity hedge rate
RP hedge rate
1
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
NON-INTEREST AND MARKETS INCOME
47
Non-interest income by type ($m)Net fee income by segment ($m)
Non-interest income by segment ($m)Total Markets income ($m)
1
1 Includes Markets net interest income.
273
389
599
148
(14)
265
381
654
133
3
296
383
741
137
22
ConsumerBusiness &
Wealth
InstitutionalNZ (NZ$)Other
2H241H252H25
30
7
38
439
450
15540
2H241H25Fixed
income
FX,
Commodities
and Carbon
DVAOther2H25
830
223
329
845
234
345
887
242
438
FeesWealth managementTrading and other income
2H241H252H25
830
845
19
17
10(2)887
(2)
2H241H25ConsumerBusiness
& Wealth
InstitutionalNew
Zealand
Other2H25
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
5,549
5,698
143
67
78
208
273 6,218
(249)
2H241H25Staff costsTechnologyVolume & otherProductivityInvestmentsRestructuring
charge
2H25
2H25 EXPENSES ($M)
48
3% INCREASE
9% INCREASE
4% increase ex restructuring
Simpler operating model
Reduced property footprint
Digitisation
UNITE investment $111m
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
IMPAIRMENT CHARGES COMPOSITION
49
Impairment charges ($m)
210
251
157
(163)
(204)
(238)
275
279
282
(147)
(76)
(27)
175
250
174
2H241H252H252H241H252H252H241H252H252H241H252H252H241H252H25
Impairment charges and stressed exposures (bps)
5
128
-50
50
150
250
350
-20
0
20
40
60
80
100
2010201120122013201420152016201720182019202020212022202320242025
Impairment charge to average loans annualised (lhs)Stressed exposures to TCE (rhs)
IMPAIRMENT CHARGES
New IAPs
Write-backs &
recoveries
Write-offs direct
Other movements
in CAP
Individually assessedCollectively assessed
Total
Higher Cards & Personal
Loans recoveries
Improvement in economics,
partly offset by overlays
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
UNITE
UNITE: FY25 COMPLETED INITIATIVES
51
•Enhanced digital customer experience and service offering
•Streamlined processes and systems to reduce duplication
•Facilitates above market growth of balance sheet and
investment funds under administration (FUA)
•Customer transitions completed
This page contains ‘forward looking statements’. Please refer to the disclaimer on page 125.
UNITE
$7m
Initiative
cost
$5m
Initiative
cost
~$5m
In annual
cost savings
~$4m
In annual
cost savings
•Consolidated 2 chat platforms to 1
•Customers enjoy secure conversations with their banker via
the Westpac Live app
•Customers can resume chats for up to 30 days and receive
push notifications when a response is available
•Conversations are encrypted through Westpac’s secure
messaging network
~8m
Customers
migrated
~50%
Reduction in
related
processes and
systems
ONE CHAT PLATFORMONE PRIVATE BANK
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
UNITE: CURRENT FOCUS AREAS
52
This page contains ‘forward looking statements’. Please refer to the disclaimer on page 125.
1 This includes 3 initiatives. One initiative was descoped in 2H25. 2 This includes 2 initiatives. 3 Estimated total initiative cost. 4 Expected full year benefit expected after the initiative is complete.
UNITE
MORTGAGE
SIMPLIFICATION
1
DIGITAL
BANKER
2
ONE
COLLECTIONS
PLATFORM -
ASSISTNOW
DEBIT CARD
SIMPLIFICATION
ONE WEALTH
PLATFORM
c.$265m
(May-25: $450m)
~$70m
(May-25: $120m)
COST
3
(NOV-25)
BENEFITS
4
(NOV-25)
c.$150m
(May-25: $175m)
BANKER
PRODUCTIVITY
c.$130m
~$40m
(May-25: $25m)
c.$70m
~$40m
c.$35m~$15m
EXPECTED OUTCOMESFY25 ACHIEVEMENTSPLAN CHANGES
Establish products, fees and
features on the target state
mortgage ledger
Implement a single consumer
mortgage collateral register
Multi-offset
capability enabled
for all mortgage
customers
Initiative scope and benefits
refined:
•RAMS mortgages descoped
•Activities transferred to new
initiatives to improve efficiency
Decommission CRM platform
and extend capability to all
bankers
Migrated 6,000
bankers
onto Digital Banker
Initiative scope refined:
•Activities transferred to new
initiatives to improve efficiency
Migrate Consumer Finance
products onto the AssistNow
Platform and decommission
legacy collections platform
Moved Westpac
Credit Cards,
Flexiloans and
RAMs mortgages
Expected initiative benefits
increased:
•Reflects additional benefits
from reduced complexity
Accounts on the Asgard
platform migrated to Panorama
Expect migration will complete
in 1H26
Platform change
readiness completed
to commenced
migration
No changes
Reduce the product set for
debit cards from 34 to 2
Commenced our
migration of
HandyCard product
to Debit Mastercard
No changes
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
CREDIT QUALITY AND
PROVISIONS
4,987
3,040
7,152
Reported
probability-weighted ECL
100%
base case ECL
100%
downside ECL
351
536
611
539
1,061
1,223
1,198
1,190
2,405
2,390
2,256
2,087
692
768
877
933
432
179
130
238
4,941
5,096
5,072
4,987
Sep-23Sep-24Mar-25Sep-25
Overlay Stage 1 CAP Stage 2 CAP Stage 3 CAP Stage 3 IAP
PROVISIONS FOR EXPECTED CREDIT LOSS
54
Total provisions for expected credit losses
1
($m)
Expected credit loss (ECL) ($m)
1 Includes provisions for debt securities. 2 Forecast date is 18 September 2025. 3 These key economic indicators represent trough or peak values that characterise the scenarios considered in setting downside severity.
Residential and commercial forecasts represent cumulative reduction over a two-year period.
CREDIT QUALITY
Decrease due to
single name
write-off in trade
sector
Increase due to
growth in
business lending
$1.9bn in provisions
above the base case ECL
Decrease due to
improvements in
economic
forecasts
Forecasts for
base case ECL
2
Base caseDownside
20252026
Trough /
peak
3
GDP growth1.9%2.4%(6%)
Unemployment4.4%4.5%11%
Residential property prices5.6%9.0%(27%)
Commercial property prices0.9%3.8%(32%)
Increase due to
growth in
business lending
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
PROVISION COVER
55
Exposures as a % of TCEKey ratios
Provisioning to TCE (%)
CREDIT QUALITY
Stage 3 – Lower 90+ day
mortgage delinquencies
Stage 2 – Decrease due
to the run-off of RAMS and
upgrades to economic
forecasts
Stage 1 – Lending growth,
mostly in business
portfolios
Sep-24Mar-25Sep-25
Stage 10.070.080.08
Stage 2
Non-stressed1.101.131.21
Stressed7.948.329.24
Stage 3 (non-performing)
Not impaired10.4810.9911.22
Impaired41.2840.8839.53
Total0.410.390.38
Sep-24Mar-25Sep-25
Provisions to gross loans (bps)636158
Impaired asset provisions
to impaired assets (%)
414140
Collectively assessed provisions
to credit RWA (bps)
130126125
0.86
0.81
0.78
15.26
13.10
11.43
83.88
86.09
87.79
Sep-24Mar-25Sep-25
Stage 3Stage 2Stage 1
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
06001,2001,8002,4003,000
A-
BBB+
A
AA-
A
BBB+
A-
A-
BBB+
AA-
PORTFOLIO COMPOSITION
56
Total committed exposure (TCE) by risk grade at 30 September 2025 ($m)
Top 10 institutional exposures to corporations
and NBFIs
3
(% of TCE)
Top 10 exposures to corporations & NBFIs
at 30 September 2025 ($m)
4
1 Risk grade equivalent. 2 Region is based on booking office. 3 NBFI is non-bank financial institutions. 4 Institutional counterparties; S&P rating or equivalent.
CREDIT QUALITY
Clearing house
membership
Standard and Poor’s risk grade
1
AustraliaNZ / PacificOther overseasGroup% of total
AAA to AA-
205,43322,62419,301247,358
19%
A+ to A-
44,3586,04515,39765,800
5%
BBB+ to BBB-
94,65112,58012,349119,580
9%
BB+ to BB
108,81415,2261,708125,748
10%
BB- to B+
42,6806,36918649,235
4%
<B+
14,2532,254-16,507
1%
Mortgages
579,97973,997- 653,976
50%
Other consumer products
24,0153,445- 27,460
2%
TCE
1,114,183142,54048,9411,305,664
TCE at 30 September 2024
1,075,520143,54633,2751,252,341
Exposure by region
2
(%)
85%11%4%100%
1.1
1.1
1.2
1.3
Sep-22Sep-23Sep-24Sep-25
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
0.13
0.11
0.16
0.15
0.32
0.39
0.47
0.32
0.19
0.22
0.23
0.30
0.43
0.54
0.59
0.51
1.07
1.26
1.45
1.28
Sep-22Sep-23Sep-24Sep-25
Total
Watchlist & substandard
Non-performing, <90 daysNon-performing, 90+ days
CREDIT QUALITY METRICS
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack57
Stressed exposures as a % of TCEMovement in stress by segment (bps)
New and increased gross impaired assets ($m)
1
897
222
222
174
284
418
864
614
208
193
417
413
FY20FY21FY22FY23FY24FY25
1H2H
1 Includes exposures that are managed on a facility by facility basis.
CREDIT QUALITY
Decrease from
lower mortgage
90+ day
delinquencies
Reduction mostly
within the trade,
mining and
agriculture sectors
Increase from
mortgages
categorised as
non-performing
after exiting 90+
days past due
Increase driven by a
single name in the
trade sector
145
128
(10)
(4)
(0)
(3)
Sep-24ConsumerBusiness &
Wealth
InstitutionalNew ZealandSep-25
0.0
1.0
2.0
3.0
4.0
5.0
6.0
PropertyWholesale
&
retail trade
UtilitiesServicesAgriculture,
forestry &
fishing
Property &
business
services
ManufacturingTransport
&
storage
ConstructionAccommodation
cafes &
restaurants
Mining
Sep-24Mar-25Sep-25
CREDIT QUALITY ACROSS SECTORS
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack58
Corporate and business stressed exposures by industry sector (%)
1 Finance and insurance includes banks, non-banks, insurance companies and other firms providing services to the finance and insurance sectors. Includes assets held for liquidity portfolio. 2 Property includes both
residential and non-residential property investors and developers and excludes real estate agents. 3 Services includes education, health & community services, cultural & recreational and personal & other services.
4 Construction includes building and non-building construction, and industries serving the construction sector. 5 Includes impaired exposures. 6 Percentage of portfolio TCE.
Exposure and credit quality by sector
Sector
Finance &
insurance
1
Property
2
Wholesale
& retail
tradeUtilities
Services
3
Agriculture,
forestry &
fishing
Property &
business
services
Manufacturing
Transport &
storageConstruction
4
Accomm,
cafes &
restaurantsMining
TCE ($bn)
Sep-25154.493.6
36.0
29.028.528.327.526.723.314.813.78.6
Mar-25161.088.6
33.6
29.126.226.926.825.821.414.012.68.5
Stressed (%)
5,6
Sep-250.12.4
4.4
0.13.33.73.0
4.3
2.55.53.71.4
Mar-250.12.7
5.4
0.13.64.42.9
4.2
2.64.84.21.3
Impaired (%)
6
Sep-250.00.1
0.6
0.00.80.20.5
0.7
0.40.60.20.2
Mar-250.00.1
0.7
0.00.90.40.4
0.8
0.40.60.20.2
CREDIT QUALITY
Small number of
customers upgraded
Reduced exposure/
write-off
Small number of
customers downgraded
19
25
18
18
15
5
Office
Retail
Residential
Industrial
Corporate
Other
18
12
7
7
3
9
44
NSW & ACT
VIC
QLD
SA, NT & TAS
WA
NZ & Pacific
Institutional
SECTORS IN FOCUS: COMMERCIAL PROPERTY
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack59
Commercial property exposures
(% of TCE)
Commercial property portfolio
composition (TCE) (%)
1 Policy exception can be made under limited circumstances. 2 Fully secured is where the exposure is less than 100% of the bank extended value of the security, which is a discount of the market value of the security. 3
Includes impaired exposures. 4 Percentage of commercial property portfolio TCE. 5 Region is based on booking office.
Commercial property portfolio composition (TCE) (%)
CREDIT QUALITY
Sub-sector
Borrower typeRegion
5
6.4
6.6
6.8
6.9
7.2
Sep-22Sep-23Sep-24Mar-25Sep-25
Sep-24Mar-25Sep-25
TCE ($bn)
85.588.693.6
% of Group TCE
6.836.887.17
Lending ($bn)
68.871.575.1
Median risk grade
(S&P equivalent)
BBBBBB
% of portfolio graded
as stressed
3,4
2.662.672.41
% of portfolio
impaired
4
0.090.110.07
•Single credit policy, supported by industry
sector concentration limits
•Maintained credit standards, with close
oversight of portfolio
•Managed by specialist relationship teams,
dedicated credit officers and subject matter
experts
•Limited risk appetite for lower grade office
buildings
•Weighted average LVR for the Australian
secured portfolio <50%
•Credit policy maximum LVR at origination
65%
1
•84% fully secured
2
27
9
52
12
Investors &
developers <$10m
Developers >$10m
Investors >$10m
Diversified property
groups and property
trusts
SECTORS IN FOCUS: COMMERCIAL PROPERTY – OFFICE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack60
CREDIT QUALITY
Commercial property – office
•Office exposure has reduced to 1.4% of Group TCE in Sep-25
from 2.1% in Sep-20
•Concentration to the Office Sector has declined marginally to
19.1% (Aug-25)
•Weighted towards premium, A & B grade office assets in major
CBD locations
•Specialist property relationship teams manage all office exposures
>$10m TCE
S&P equivalent risk gradeGeographic concentration (TCE) (%)
1 Includes impaired exposures. 2 Percentage of portfolio TCE.
Sep-24Mar-25Sep-25
TCE ($bn)17.217.117.7
% of Group TCE1.381.331.36
Lending ($bn)15.015.215.3
Median risk grade (S&P equivalent)BB-BB-BB-
% of portfolio graded as stressed
1,2
3.893.473.05
% of portfolio impaired
2
0.280.300.10
2
31
49
15
3
A+ to A-BBB+ to BBB-
BB+ to BBBB- to B+
<B+
16
11
6
7
3
11
46
NSWVIC
QLDSA, NT, TAS
WANZ, Pacific
Institutional
SECTORS IN FOCUS: CONSTRUCTION
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack61
CREDIT QUALITY
ConstructionPortfolio security composition (TCE) (%)
S&P equivalent risk gradeGeographic concentration (TCE) (%)
1 Includes impaired exposures. 2 Percentage of portfolio TCE.
Sep-24Mar-25Sep-25
TCE ($bn)13.714.014.8
% of Group TCE1.101.091.13
Lending ($bn)8.38.69.2
% of portfolio graded as stressed
1,2
4.934.795.49
% of portfolio impaired
2
0.720.590.60
59
20
21
Fully secured
Partially secured
Unsecured
22
16
9
6
4
29
14
Building construction
Installation services
Site prep services
Structure services
Completion services
Other services
Non-building construction
45
16
14
8
7
3
7
NSWVIC
QLDSA
WAACT,NT,TAS
NZ, Pacific
SECTORS IN FOCUS: ACCOMMODATION, CAFES AND RESTAURANTS
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack62
Accommodation, cafes and restaurants
Sep-24Mar-25Sep-25
TCE ($bn)11.712.613.7
% of Group TCE0.940.981.05
Lending ($bn)10.210.711.9
% of portfolio graded as stressed
1,2
4.084.223.70
% of portfolio impaired
2
0.230.190.18
Portfolio security composition (TCE) (%)
86
11
3
Fully secured
Partially secured
Unsecured
Portfolio by sub-sector (TCE) (%)
36
41
18
5
Accommodation
Pubs, taverns and bars
Cafes and restaurants
Clubs (hospitality)
Geographic concentration (TCE) (%)
58
12
16
6
2
2
3
NSWVIC
QLDSA
WAACT, NT, TAS
NZ, Pacific
1 Includes impaired exposures. 2 Percentage of portfolio TCE.
CREDIT QUALITY
Sep-24Mar-25Sep-25
TCE ($bn)12.413.614.4
% of Group TCE0.991.061.10
Lending ($bn)8.58.89.3
% of portfolio graded as stressed
1,2
6.055.785.65
% of portfolio impaired
2
1.211.001.02
SECTORS IN FOCUS: RETAIL TRADE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack63
Retail tradePortfolio security composition (TCE) (%)
45
23
32
Fully secured
Partially secured
Unsecured
Portfolio by sub-sector (TCE) (%)
48
28
24
Personal and household goods retailing
Motor vehicle retailing and services
Food retailing
Geographic concentration (TCE) (%)
53
12
11
6
5
3
11
NSWVIC
QLDSA
WAACT, NT, TAS
NZ, Pacific
1 Includes impaired exposures. 2 Percentage of portfolio TCE.
CREDIT QUALITY
Sep-24Mar-25Sep-25
TCE ($bn)25.426.928.3
% of Group TCE2.032.092.17
Lending ($bn)22.123.024.5
% of portfolio graded as stressed
1,2
5.034.423.68
% of portfolio impaired
2
0.480.380.18
SECTORS IN FOCUS: AGRICULTURE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack64
AgriculturePortfolio security composition (TCE) (%)
90
7
3
Fully secured
Partially secured
Unsecured
Portfolio by sub-sector (TCE) (%)Geographic concentration (TCE) (%)
1 Includes impaired exposures. 2 Percentage of portfolio TCE.
CREDIT QUALITY
25
26
23
10
3
4
3
2
2
1
1
Dairy
Beef & sheep
Grain
Horticulture
Services to agriculture
Cotton
Viticulture
Forestry & logging
Fishing & aquaculture
Poultry
Other
20
19
11
15
5
30
NSW/ACTVIC/TAS
SA/NTQLD
WANZ
Sep-24Mar-25Sep-25
TCE ($bn)25.425.826.7
% of Group TCE2.032.002.04
Lending ($bn)12.712.713.8
% of portfolio graded as stressed
1,2
4.114.214.33
% of portfolio in impaired
2
0.900.810.74
SECTORS IN FOCUS: MANUFACTURING
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack65
ManufacturingPortfolio security composition (TCE) (%)
Portfolio by sub-sector (TCE) (%)Geographic concentration (TCE) (%)
1 Includes impaired exposures. 2 Percentage of portfolio TCE.
CREDIT QUALITY
28
22
14
15
6
15
Food and beverage
Machinery and equipment
Petroleum, coal, chemical and
associated product
Metal product
Non-metallic mineral product
Other
34
17
49
Fully secured
Partially secured
Unsecured
51
8
4
5
3
14
16
NSW/ACTVIC/TAS
SA/NTQLD
WANZ/Pacific
Other
1
9
22
2
66
1
10
21
2
66
1
10
22
2
66
0
15
24
4
58
LOCIPL-I/OIPL-P&IOO-I/OOO-P&I
Sep-24 (Portfolio)Mar-25 (Portfolio)
Sept-25 (Portfolio)2H25 Flows
Australian mortgage portfolio
Sep-24
balance
Mar-25
balance
Sep-25
balance
2H24
flow
1
1H25
flow
1
2H25
flow
1
Total portfolio ($bn)
503.3510.2518.755.254.861.0
Owner occupied (OO) (%)
67.968.167.864.063.660.9
Investment property loans (IPL) (%)
31.131.031.436.036.439.1
Variable rate / Fixed rate (%)
91/995/597/399/199/199/1
Interest only (I/O) (%)
11.811.812.017.919.119.8
Proprietary channel (%)
48.246.645.136.432.532.7
First home buyer (%)
11.812.212.513.310.810.0
Mortgage insured (%)
11.710.18.84.53.02.5
Sep-24Mar-25Sep-25
2H24
flow
1
1H25
flow
1
2H25
flow
1
Average loan size
2
($’000)
319330343521550563
Customers ahead on repayments
including offset account balances
(%)
By accounts
838485
By balances
808284
AUSTRALIAN MORTGAGE PORTFOLIO COMPOSITION
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack66
By product and repayment type (%)
By year of origination (% of total book)
1 2H24 flow is new mortgages settled in the 6 months ended 30 September 2024. 1H25 flow is new mortgages settled in the 6 months ended 31 March 2025. 2H25 flow is new mortgages settled in the 6 months ended
30 September 2025. 2 Includes amortisation. Calculated at account level, where split loans represent more than one account.
MORTGAGE CREDIT QUALITY
Calendar year
Charts may not add to 100 due to rounding.
11
33
3
3
4
9
11
15
20
18
Pre-
2016
20172019202120232025
Australian mortgage portfolioSep-24Mar-25Sep-25
90+ day delinquencies (bps):
Total portfolio
1
inc. impaired mortgages
1128673
Owner occupied loans
1158468
Investment property loans
998579
Principal & interest loans
1158871
Interest only loans
695464
First home buyers
1208972
30+ day delinquencies
total portfolio
(bps)
182150
124
Sep-24Mar-25Sep-25
Customers in hardship
2
inc. 6 months serviceability hold-out period
(by balances, bps)
11476
53
Consumer properties in possession (number)201176
154
Impaired mortgages
(by balances, bps)
1011
11
Mortgage losses net of insurance
($m, for 6 months ending)
2315
22
Annual mortgage loss rate
3
(bps)0.90.6
0.7
AUSTRALIAN MORTGAGE PORTFOLIO PERFORMANCE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack67
30+ day and 90+ day delinquencies
4
(%)
90+ day delinquencies by vintage (%)
0.0
1.0
2.0
3.0
4.0
06121824303642485460
FY2019FY2020FY2021FY2022
FY2023FY2024FY2025
1 Total portfolio includes Line of Credit loans. 2 Financial hardship assistance is available to customers experiencing temporary financial difficulty, including changes in income due to illness, a relationship breakdown or
natural disasters. Hardship assistance often takes the form of a reduction or deferral of repayments for a short period. The 6 months serviceability hold-out period requirement was removed for new commercial hardships
from September 2024. 3 Mortgage loss rates for March balances are annualised, based on losses for the 6 months. Mortgage loss rates for September are actual losses for the 12 months ending. 4 Delinquencies have
been restated from 1 April 2025 to include $170m of matured loans.
MORTGAGE CREDIT QUALITY
Months on book
0.59
0.73
1.24
0.0
1.0
2.0
3.0
4.0
Sep-20Sep-21Sep-22Sep-23Sep-24Sep-25
90+ dpd excl. 6 months serviceability hold-out
period and RAMS (closed to new customers)
90+ day delinquencies
30+ day delinquencies
AUSTRALIAN MORTGAGE PORTFOLIO COMPOSITION AND
PERFORMANCE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack68
Portfolio by State (%)
41
28
16
8
7
NSW/ACTVIC/TAS
QLDWA
SA/NT
90+ day delinquencies by State (%)
Debt-to -income >=6x at origination (%)Applicant gross income band
(2H25 drawdowns, % by approved limits)
MORTGAGE CREDIT QUALITY
Charts may not add due to rounding.
20.6
24.4
21.9
11.3
7.7
7.9
7.8
7.7
7.6
Sep-21Mar-22Sep-22Mar-23Sep-23Mar-24Sep-24Mar-25Jun-25
0.0
1.0
2.0
3.0
4.0
Sep-20Sep-21Sep-22Sep-23Sep-24Sep-25
ALLNSW/ACTVIC/TAS
QLDWASA/NT
1
3
5
7
19
50
15
0
1
3
4
10
59
24
<75k75k to
100k
100k to
125k
125k to
150k
150k to
200k
200k to
500k
>500k
Owner OccupiedInvestment Property
26
21
35
11
6
0
24
19
39
12
7
0.6
67
14
12
6
1
0.4
0.6
0
20
40
60
80
100
0<=6060<=7070<=8080<=9090<=9595<=100>100
2H25 drawdowns LVR at origination
Portfolio LVR at origination
Portfolio dynamic LVR
AUSTRALIAN MORTGAGE PORTFOLIO
LOAN-TO-VALUE RATIOS (LVRS) AND OFFSET ACCOUNTS
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack69
Loan-to -value ratios (%)Serviceability assessment creates a buffer
for borrowers
Offset account balances ($bn)
1 Dynamic LVR is the loan-to-value ratio taking into account the current loan balance, changes in security value, offset account balances and other loan adjustments. Property valuation source Cotality. 2 Weighted
average LVR calculation considers size of outstanding balances. 3 Average LVR of new loans is on rolling 6 months.
MORTGAGE CREDIT QUALITY
Chart may not add to 100 due to rounding.
N/A
1
Australian mortgage portfolio LVRs
Sep-24
balance
Mar-25
balance
Sep-25
balance
Weighted
averages
2
LVR at origination (%)
717171
Dynamic LVR
1
(%)
494948
LVR of new loans
3
(%)
706969
•Loans are assessed at the higher of:
–The customer rate, including any life-of-loan discounts, plus the
serviceability buffer of 3.0%; or
–The minimum assessment rate, called the “floor rate”, currently 5.05%
•A serviceability buffer of 1.0% may be applied on an exceptions basis for
certain customers seeking to refinance their loan, subject to eligibility
criteria including LVR, bureau score and repayment amounts
•Interest only (I/O) loans: Assessed based on the residual principal and
interest (P&I) term using the applicable P&I rate, plus a 3.0% buffer
•New fixed rate loans: Assessed on the variable rate to which the loan
will revert after the fixed period, plus a buffer
73
41
46
51
53
57
63
Sep-19Sep-20Sep-21Sep-22Sep-23Sep-24Sep-25
19.0
19.419.4
19.7
20.8
Sep-21Sep-22Sep-23Sep-24Sep-25
36
16
19
15
14
1
>2yrs
>6mths <2yrs
<6 mths
< 1 mth
On time
Behind
2
18
19
21
17
24
1
14
18
21
18
27
BehindOn time< 1mth< 6mths>2yrs
Sep-24Sep-25
AUSTRALIAN MORTGAGE PORTFOLIO REPAYMENT BUFFERS
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack70
Buffer to balance ratio
1
(%)
(% by accounts)
Customers ahead on repayments
2
Charts may not add due to rounding.
1 Excludes Line of Credit. 2 Customer loans ahead on payments exclude equity/line of credit products as there are no scheduled principal payments. Includes mortgage offset accounts. ‘Behind’ is more than 30 days past
due. ‘On time’ includes up to 30 days past due.
MORTGAGE CREDIT QUALITY
Investment property loans –
(generally maintain higher
balances for tax purposes)
Accounts opened in the
last 12 months
Structural restrictions on
repayments e.g. fixed rate
Residual – <1 month
repayment buffer
>6mths
to <2yrs
Loans ‘on time’ and <1mth ahead
Buffer = current limit – outstanding balance + offset balance
(% by balances)
Owner-occupied variable rate customers change in buffer over
12 months (by balances)
14
13
4
1
4
3
15
14
Sep-24Sep-25
32
37
Changes in customer buffers
1
(%)
0.0
20.0
40.0
60.0
Sep-21Sep-22Sep-23Sep-24Sep-25
IncreasedUnchangedDecreased
AUSTRALIAN MORTGAGE PORTFOLIO UNDERWRITING
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack71
Credit policy at September 2025
Income
•Verified via payslips, tax returns or salary credits, with other supporting documentation such as PAYG payment summaries or ATO Income
Statements (minimum standards apply)
•Shading of at least 20% applies to less certain income sources i.e. overtime, bonuses
Credit Score
& Credit Bureau
•Bespoke application scorecards segmented by new and existing customers
•Credit and score override rates tracked and capped
•Credit bureau checks required
Expenses
•Assessed as the higher of a borrower’s declared expenses or HEM
1
comparable expenses plus any expenses that are not comparable to HEM (e.g.
private school fees, life insurance)
•HEM is applied by income bands, post settlement postcode location, marital status and dependants
•17 expense categories used, aligned with Melbourne Institute guidelines and LIXI standards
Serviceability
assessment
For serviceability assessment, loans are assessed at the higher of:
The customer interest rate, including any life-of-loan discounts, plus the serviceability buffer of 3.0%, or
The minimum assessment rate, called the “floor rate”, currently 5.05%
•A serviceability buffer of 1.0% may be applied on an exceptions basis for certain customers seeking to refinance their loan, subject to eligibility
criteria including LVR, bureau score and repayment amounts
•For I/O loans, serviceability is assessed on a P&I basis over the residual term
•New fixed rate loans assessed on the variable rate to which the loan will revert after fixed period, plus a buffer
•All existing customer commitments are verified
•Review Westpac Group accounts and Comprehensive Credit Reporting (CCR) to identify customer commitments
•Limits apply to higher debt-to-income lending; >7x referred for manual credit assessment where LVR >80%
•Credit card repayments assessed at 3.8% of limit or balance whichever is higher
Genuine savings
deposit requirements
•Minimum 5% proof of genuine savings for higher LVR loans (typically LVR >90% or >80% for Home Guarantee Scheme Loans).
Any Home Owner Grants are not considered genuine savings
Security
•LVR restrictions apply depending on location, property value and nature of security
•Restrictions on high-density apartments based in postcode defined areas, generally capital city CBD’s and properties in towns heavily reliant on a
single industry, e.g. mining, tourism
LMI
•
Mortgage insurance for higher risk loans, such as LVRs >80%. Special package policy waivers apply for certain professionals and Westpac Group
staff
1 HEM is the Household Expenditure Measure, produced by the Melbourne Institute.
MORTGAGE CREDIT QUALITY
9
8
83
Total Portfolio by insurance profile
2
(%)
23
58
2
17
0.53
0.00
0.50
1.00
1.50
2.00
2.50
Sep-21Sep-22Sep-23Sep-24Sep-
Non-COVID-19 supportCOVID-19 support.
AUSTRALIAN MORTGAGE PORTFOLIO
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack72
Hardship
1
balances (% of portfolio)Average dynamic LVR and negative equity
Hardship
1
balances by support solution
(% FY25 new hardship accounts)
MORTGAGE CREDIT QUALITY
2.2
0.8
0.6
0.60.6
0.6
56
50
49
50
49
48
Sep-20Sep-21Sep-22Sep-23Sep-24Sep-25
% with Negative EquityAvg Dynamic LVR (%)
Reduced repayments (temporarily)
No repayments (temporarily)
Capping of arrears
(Arrears capitalised into the principal owed,
repayments are recalculated)
Other (may include standalone term extension or
other tailored solution)
Insurance not required
(Low risk profile including loans <80% LVR)
Not insured >80% LVR
(Policy for certain
professionals and Westpac staff)
Insured
3
(>80% LVR)
1 Financial hardship assistance is available to customers experiencing temporary financial difficulty, including changes in income due to illness, a relationship breakdown or natural disasters. 2 In 2H21 Westpac Lender’s
Mortgage Insurance Limited was sold to Arch Capital Group. Westpac has entered into a 10-year exclusive supply agreement for Arch to provide lenders mortgage insurance to the Group. 3 Includes loans where LMI
applies to >70% LVR loans, for example, single industry towns.
Charts may not add due to rounding.
Investment property lending (IPL) portfolio
Sep-24Mar-25Sep-25
Investment property loans ($bn)
155158163
Weighted
averages
LVR of IPL loans at origination (%)
70
70
70
LVR of new IPL loans in the period
(%)
70
70
69
Dynamic
LVR
2
of IPL loans (%)
48
49
48
Average loan size
3
($’000)
351
360
374
Customers ahead on repayments
including offset accounts
4
(%)
70
72
74
90+ day delinquencies (bps)
99
85
79
Annualised loss rate (net of insurance claims) (bps)
1.5
1.2
1.1
71
21
5
1
2
3
4
5
6+
13
18
16
17
24
11
0<1 Yr1<2 Yrs2<3 Yrs3<4 Yrs4<5 Yrs5<10 Yrs10 Yrs+
1
1
2
AUSTRALIAN MORTGAGE PORTFOLIO INTEREST ONLY
AND INVESTMENT PROPERTY LENDING
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack73
Interest only (I/O) lending by dynamic LVR and
income bank (% of total I/O lending)
3
1
18
7
2
41
21
7
62
29
9
<=60%60%<=80%>80%
Dynamic LVR bands (%)
<$100k
$100k – $250k
>$250k
Investment property portfolio by number
of properties per customer (%)
Scheduled I/O term expiry
1
(% of total I/O loans)
1 Based on outstanding balance. Excludes line of credit loans and I/O loans without date (including bridging loans and loans with construction purpose). 2 Dynamic LVR is the loan-to-value ratio taking into account the
current loan balance, changes in security value, offset account balances and other loan adjustments. Property valuation source Cotality. 3 Includes amortisation. Calculated at account level where split loans represent
more than one account. 4 Customer loans ahead on payments exclude equity/line of credit products as there are no scheduled principal payments.
MORTGAGE CREDIT QUALITY
I/O portfolio $62bn (12.0% of portfolio)
at 30 September 2025
Applicant gross income bands
Charts may not add due to rounding
0.4
AUSTRALIAN CONSUMER FINANCE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack74
Australian consumer finance portfolio ($bn)
1
Sep-24Mar-25Sep-25
Lending ($bn)
8.58.58.4
As a % of Group loans
1.01.01.0
30+ day delinquencies
(%)
2.402.552.18
90+ day delinquencies
(%)
1.231.301.13
0.66
2.64
0.0
1.0
2.0
3.0
4.0
5.0
6.0
Sep-22Mar-23Sep-23Mar-24Sep-24Mar-25Sep-25
Credit cardsPersonal loans
Australian consumer finance portfolio
1
6.3
2.2
8.5
6.4
2.1
8.5
6.4
2.0
8.4
Credit cardsPersonal loansTotal consumer finance
Sep-24Mar-25Sep-25
Credit card accounts paying minimum repayment (%)
2
4.2
4.2
4.0
4.1
3.9
3.9
3.6
3.2
3.4
3.6
3.8
4.0
4.2
4.4
Sep-22Mar-23Sep-23Mar-24Sep-24Mar-25Sep-25
1 Excludes margin lending and auto finance (sold in 1H25). 2 Minimum repayment over at least six consecutive months. Minimum repayment defined as <=5% of each months statement cycle balance.
CREDIT QUALITY
Australian consumer finance 90+ delinquencies (%)
47.8%
19.6%
22.4%
7.2%
3.0%
0<=6060<=7070<=8080<=9090+
Mortgage portfolioSep-24Sep-25
Total portfolio (NZ$bn)
1
68.071.3
Owner occupied (%)
74.474.3
Investment property
loans (IPL) (%)
25.625.7
Broker introduced (%)
53.856.7
Proprietary channel (%)
46.243.3
Fixed/ variable split (%)
89/1188/12
Interest only (I/O) (%)
15.514.7
Loan to Value
Ratio (LVR) 80<=90
6.07.2
LVR >90%
2.63.0
Mortgage 90+ day delinquencies (%)
0.490.46
Mortgage 30+ day delinquencies (%)
0.960.88
Unsecured consumer portfolio
(NZ$bn)
2
1.21.2
NEW ZEALAND CREDIT QUALITY
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack75
Mortgage 90+ day delinquencies
3
(%)
Unsecured consumer 90+ day
delinquencies
3
(%)
1. Mortgage portfolio indicates gross loans. 2. Unsecured consumer portfolio indicates outstanding balance. 3. In May-19 we made changes to the reporting of customers in hardship to align to the method used by APRA.
4. LVR based on current loan property value at latest credit event. 5. Chart may not add due to rounding.
Mortgage portfolio LVR
4
(% of portfolio)
Business stressed exposures to
business TCE (%)
5
NEW ZEALAND CREDIT QUALITY
90% of mortgage portfolio has
an LVR less than 80%
0.2
0.2
0.2
0.3
0.3
0.2
2.4
2.0
1.7
2.8
2.4
2.2
Sep-24Mar-25Sep-25
Watchlist &
substandard
Non-performing,
not impaired
Impaired
0.46
0.0
0.2
0.4
0.6
0.8
1.0
Sep-17Sep-19Sep-21Sep-23Sep-25
0.70
0.0
1.0
2.0
3.0
Sep-17Sep-19Sep-21Sep-23Sep-25
CAPITAL, FUNDING
AND LIQUIDITY
12.24
80
5
16
12.53
(58)
(12)
(2)
Mar-25Net profit1H25
dividend
RWAIRRBBOtherCapital
return
Sep-25
CET1 CAPITAL RATIO 12.53%
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack77
Level 2 CET1 capital ratio movements (%, bps)
Key capital ratios
3
(%)
Sep-
24
Mar-
25
Sep-
25
Level 2 CET1
capital ratio
12.512.212.5
Additional Tier 1
capital ratio
2.32.31.9
Tier 1 capital ratio14.814.514.4
Tier 2 capital ratio6.67.17.2
Total regulatory
capital ratio
21.421.621.7
Risk weighted assets
(RWA)
($bn)
437449450
Leverage ratio 5.35.25.1
Level 1 CET1 capital ratio12.712.512.7
Internationally comparable ratios
4
Leverage ratio
(internationally comparable)
5.85.75.5
CET1 capital ratio
(internationally comparable)
18.318.218.3
1 Capital deductions and other items including FX translation impacts. 2 Includes remaining on market share buyback previously announced in Nov-23, May-24 and Nov-24. 3 Table may not add due to rounding.
4 Internationally comparable methodology references the Australian Banking Association (ABA) study on the comparability of APRA’s capital framework and finalised reform released on 10 March 2023.
CAPITAL, FUNDING AND LIQUIDITY
1
Lending (34bps)
Data refinement 16bps
Credit quality & other 6bps
Adjustments (post 30 Sep 25)
•IRRBB standard changes 39bps
•Operational risk overlay removal 17bps
Other considerations
•Share buyback
2
(23bps)
•Standardised floor met
437.4
449.5
12.6
1.4450.0
(3.0)
(0.7)
(5.9)
(1.8)
(2.0)
(0.1)
Sep-24Mar-25Credit qualityLendingCounter-
party credit
and MTM
risk
Data
refinement
FX
translation
IRRBBOperational riskMarket
risk
Sep-25
RISK WEIGHTED ASSETS
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack78
RWA ($bn)
This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.
1 Includes other assets, securitisation exposures in the banking book and settlement risk. 2 Mark to market. 3 Based on the revised APS117 standard.
Chart may not add due to rounding
CAPITAL, FUNDING AND LIQUIDITY
1
UP $0.5BN OR 0.1%
Credit RWA up $1.2bn or 0.4%
2
IRRBB RWA ($bn)
16
8
(1)
(3)
(4)(4)
20
21
23
35
34
27
5
5
6
7
7
40
34
28
39
37
23
4.26
3.79
3.54
3.63
3.51
-4
-3
-2
-1
0
1
2
3
4
-10
0
10
20
30
40
50
60
Sep-23Mar-24Sep-24Mar-25Sep-25Sep-25
Pro forma
Embedded loss/(gain)Repricing and yield curve risk
Optionality and basis risk3y Swap rate (in %)
•$14bn reduction in RWA following implementation of
the revised APS 117, effective 1 October 2025
•Use of the modelled 5-year core deposit duration for
regulatory purposes contributed $7.8bn and a further
$6.2bn reduction from changes to the treatment of
optionality and basis risk and other methodology
changes
•A level of volatility in IRRBB will remain due to new
capital considerations when determining the size and
composition of our replicating portfolios
Changes impacting IRRBB RWA
3
REGULATORY CAPITAL CHANGES
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack79
ImplementationChangeDetails
Expected impact on the
Group’s Total Capital
1 Oct 2025APS117 – IRRBB
•APRA’s revised APS 117 – IRRBB came into effect on 1 October 2025. The revised
requirements include implementation of APRA’s reaccreditation outcomes for
Westpac’s IRRBB models
•Reporting under the revised standard will be reflected in the 31 December 2025
Pillar 3 report
Refer to page 78
1 Jan 2026
Loss Absorbing
Capacity (LAC)
•Total capital ratio requirement:
−Current 16.75%
−1 January 2026 18.25%
1 Jan 2027Additional Tier 1 Capital
•AT1 capital instruments will be phased out. The changes will impact the CET1
minimum, CET1 buffers and Tier 2 requirements. There is no overall increase in total
capital requirements for banks
•APRA has also proposed changes to the leverage ratio, large exposures and related
entity limits, which will see these calculations based on CET1 capital rather than Tier
1 capital
Expected in 2027APS116 – Market Risk•APRA is yet to commence consultation on Fundamental Review of the Trading Book
Review decision
expected Dec 2025
RBNZ Capital Review
•In August 2025, the RBNZ released a consultation paper outlining potential
amendments to the prudential framework and is seeking feedback from deposit
takers (including WNZL). Proposed changes will impact standardised risk
weightings, CET1 minimum, CET1 buffers, Tier 2 requirements and Total Capital
Requirements
•The RBNZ is expected to make its final decisions in December 2025 with the
implementation timeline to be announced in the first quarter of the 2026 calendar
year
This page contains ‘forward looking statements’. Please refer to the disclaimer on page 125.
CAPITAL, FUNDING AND LIQUIDITY
INTERNATIONALLY COMPARABLE CAPITAL RATIO RECONCILIATION
1
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack80
APRA’s capital requirements are more conservative than those of the Basel Committee on Banking Supervision (BCBS), leading to lower reported
capital ratios by Australian banks. The following details the adjustments and how Westpac’s APRA CET1 capital ratio aligns to an internationally
comparable ratio:
1 Internationally comparable methodology references the ABA study on the comparability of APRA’s capital framework and finalised reform released on 10 March 2023. 2 Internal ratings-based approach (IRB).
CAPITAL, FUNDING AND LIQUIDITY
Westpac’s CET1 capital ratio (APRA basis)
12.5
Equity investments
Balances below prescribed threshold are risk weighted, compared to a 100% CET1 deduction under
APRA’s requirements
0.0
Deferred tax assets
Balances below prescribed threshold are risk weighted, compared to a 100% CET1 deduction under
APRA’s requirements
0.6
Capitalised expenses
APRA requires these items to be deducted from CET1. The BCBS only requires exposures classified as
intangible assets under relevant accounting standards to be deducted from CET1
0.6
Interest rate risk in the
banking book (IRRBB)
APRA requires capital to be held for IRRBB. The BCBS does not have a Pillar 1 capital requirement for
IRRBB
1.4
RWA scaling factorAPRA applies a scaling factor to all Advanced IRB
2
credit RWAs. The BCBS does not apply this scalar
0.9
Property financeAPRA applies an additional scaling factor to property finance RWA. The BCBS does not apply this scalar
0.5
Residential mortgages
APRA applies scaling factors to mortgage RWAs for higher risk segments such as interest only and
investor mortgages and applies a standardised risk weight to certain mortgages. The BCBS does not apply
this treatment
1.6
Non-retail Loss Given
Default (LGD)
Non-retail LGD’s under the Foundation IRB (F-IRB) and Advanced IRB approaches differ from the BCBS
(0.3)
New Zealand
APRA requires New Zealand RWAs to be largely calculated in accordance with the RBNZ rules. The
RBNZ rules are more conservative than BCBS
0.5
Internationally comparable CET1 capital ratio
18.3
Internationally comparable Tier 1 capital ratio
20.8
Internationally comparable total regulatory capital ratio
30.3
China Merchants Bank
Norinchukin Bank
Credit Mutuel
China Construction Bank
Bank of Communications
Bank of China
Rabobank
ICBC
OCBC
BBVA
DZ Bank
DBS
Agricultural Bank of China
State Bank of India
Unicredit
Intesa Sanpaolo
CaixBank
Credit Agricole
HSBC
UBS
Lloyds
Westpac
, 5.51%
Mitsubishi UFJ
Sumitomo Mitsui
CBA
NatWest
Nationwide
BPCE
Barclays
Mizuho FG
Nordea
Banco Santander
ANZ
Deutsche Bank
Standard Chartered
Danske Bank
Toronto Dominion Bank
BNP Paribas
Bank of Montreal
Societe Generale
Scotiabank
Royal Bank of Canada
ING Group
Commerzbank
CIBC
0%
2%
4%
6%
8%
Rabobank
Credit Mutuel
Nationwide
CBA
Danske Bank
Westpac
, 18.28%
DZ Bank
Norinchukin Bank
Credit Agricole
NAB
OCBC
DBS
ANZ
Unicredit
BPCE
Morgan Stanley
Nordea
Goldman Sachs
HSBC
JPMorgan Chase
Toronto Dominion Bank
Standard Chartered
Commerzbank
Deutsche Bank
UBS
China Construction Bank
NatWest
Barclays
Lloyds
China Merchants Bank
Societe Generale
ICBC
ING Group
Citigroup
Bank of Montreal
CIBC
BBVA
Scotiabank
Royal Bank of Canada
Banco Santander
Intesa Sanpaolo
Mitsubishi UFJ
BNP Paribas
CaixBank
Bank of China
Mizuho FG
Bank of America
0%
5%
10%
15%
20%
WELL PLACED ON INTERNATIONALLY COMPARABLE
1
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack81
Common equity tier 1 ratio (%)
1 Comparison group comprises listed commercial banks with assets in excess of A$700bn and which have disclosed fully implemented Basel III ratios or provided enough to estimate. Based on company reports/presentations. Ratios are at 30 June
2025, except for National Australia Bank and ANZ which are at 31 March 2025, Royal Bank of Canada, Bank of Montreal, CIBC, Toronto Dominion Bank, Scotiabank as at 31 July 2025 and Westpac is at 30 September 2025. Where accrued expected
dividends have been deducted and disclosed, these have been added back for comparability. US banks are excluded from leverage ratio analysis due to business model differences, for example from loans sold to US Government sponsored enterprises.
NAB has not disclosed an internationally comparable leverage ratio since September 2017 and has therefore been excluded.
Leverage ratio (%)
CAPITAL, FUNDING AND LIQUIDITY
APRA TO PHASE OUT AT1 CAPITAL INSTRUMENTS
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack82
Changes to capital
1
•In December 2024, APRA confirmed it would proceed to phase out AT1
•The 1.5% of AT1 capital will be replaced with 1.25% of Tier 2 capital and
0.25% of CET1 capital, effective 1 January 2027
•In response, the CET1 operating target has been revised to a post dividend
CET1 capital ratio of above 11.25% in normal operating conditions
•AT1 instruments will be eligible as Tier 2 capital from 1 January 2027 until
their scheduled first call date
•Westpac AT1 instruments would reach their first scheduled optional
redemption dates by 2031 at the latest
•Westpac expects the replacement of AT1 securities with CET1 capital and Tier
2 capital securities over the transition period to be manageable
1
Total capital (%)
10.25
10.50
12.53
1.50
1.91
6.50
7.75
7.22
18.2518.25
21.66
Current final
requirements
Proposed requirementsWestpac as at
30 Sep 25
Tier 2AT1CET1
Additional Tier 1 and Tier 2 Maturity Profile
2
(Notional Amount, A$bn)
1 This page contains ‘forward looking statements’. Please refer to the disclaimer on page 125. 2 Includes Westpac New Zealand Limited (WNZL). WNZL Tier 2 does not count for APRA Tier 2 or LAC requirements.
WNZL AT1 also does not count for APRA AT1 requirements. Represents A$ equivalent notional amount using spot FX translation at 30 September 2025 for redemptions/maturities. Securities in bullet format are profiled
to maturity date, adjusted for any capital amortisation. Securities in callable format are profiled to the first call date. Securities in 11 non-call 10 format are profiled to the call date, adjusted for any capital amortisation.
Any early redemption of capital securities would be subject to prior written approval from APRA, which may or may not be provided.
CAPITAL, FUNDING AND LIQUIDITY
3.6
1.5
2.1
1.8
3.1
3.6
1.8
5.5
1.8
2.8
3.2
1.8
9.6
FY26FY27FY28FY29FY30FY31FY32FY33>FY33
Additional Tier 1Tier 2
CET1 operating
target >11.25%
54
34
5
3
2
2
USD
AUD
EUR
NZD
JPY
SGD
80
20
Callable
Bullet
TIER 2 CAPITAL AND LAC
83
Loss-absorbing capacity (LAC) (% of RWA)Tier 2 capital outstanding (%)
Tier 2 capital outstanding (%)
1 Includes Westpac New Zealand Limited (WNZL). WNZL Tier 2 does not count for APRA Tier 2 or LAC requirements. Represents A$ equivalent notional amount using spot FX translation at date of issue for issuance and
spot FX translation at 30 September 2025 for capital outstanding.
CAPITAL, FUNDING AND LIQUIDITY
By format
1
(notional amount)
By currency
1
(notional amount)
7.2
2.02.0
3.0
4.5
5.0
6.5
Westpac
30 September 2025
January 2024
Requirements
January 2026
Requirements
Tier 2LAC
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
FY19FY20FY21FY22FY23FY24FY25
AUDUSDOther
Tier 2 capital issuance by currency
1
($bn)
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
112
113
0.5
4.8
1.4
0.6
(6.4)
Sep-24CapitalRetail/
SME
Deposits
Wholesale
funding
Liquids
and
other
LoansSep-25
63
66
67
68
8
8
7
7
1.4
0.4
1.0
1.0
10
10
10
9
5
4
44
7
6
7
8
5
6
4
4
Sep-19Sep-23Sep-24Sep-25
FUNDING COMPOSITION
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack84
Funding by residual maturity (%)NSFR (%)
Customer deposits and net loans ($bn)
1 Includes long term wholesale funding with a residual maturity less than or equal to 1 year. 2 Equity excludes FX translation, available-for-sale securities and cash flow hedging reserves. 3 Other includes derivatives and
other assets.
CAPITAL, FUNDING AND LIQUIDITY
Charts may not add due to rounding
Wholesale offshore >1yr
Wholesale onshore <1yr
1
Wholesale onshore >1yr
Wholesale offshore <1yr
1
Securitisation
Equity
2
Customer deposits
Customer deposits
Net loans
Customer deposits to net loans ratio (%)
Customer deposits
73% of total funding
(excluding equity)
3
•Growth in stable funding sources
•Customer deposits 68% of total funding, up 1% since September 2024
•Additional 20% from stable sources of long-term wholesale and equity
525
641
674
723
715
773
807
852
73.4
82.9
83.5
84.9
Sep-19Sep-23Sep-24Sep-25
LIQUIDITY COVERAGE RATIO (LCR)
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack85
LCR ($bn)
100
189
10
28
138
189
Net cash outflowsLiquid assets
Movement in LCR (%)
133
137
10.7
2.1
(1.5)
(5.3)
(1.8)
Sep-24
Qtr
HQLARBNZ
eligible
securities
Customer
deposits
Wholesale
funding
Other
flows
Sep-25
Qtr
High Quality Liquid Assets (HQLA) (%)
23
8
55
13
Cash and balances with central banks
Balances with foreign central banks
Australian government and semi-
government bonds
Other HQLA
LCR Deposit mix (%)
35
35
14
16
Stable retail and SME deposits
Less stable retail and SME deposits
Operational deposits
Non-operational deposits
1 Other flows include credit and liquidity facilities, collateral outflows and inflows from customers. 2 Other HQLA includes securities issued by foreign sovereigns and repo-eligible qualifying assets in foreign jurisdictions,
including RBNZ eligible securities.
CAPITAL, FUNDING AND LIQUIDITY
Liquid assets
HQLA
1
Net cash outflows (NCOs)
Other flows
1
Wholesale funding
Customer deposits
2
$555bn$189bn
September 2025 quarterly average 137%
Charts may not add due to rounding
11
10
3
57
19
2 years
3 years
4 years
5 years
>5 years
61
18
7
14
Senior Bonds
Tier 2 Capital
Securitisation
Covered
LONG TERM WHOLESALE FUNDING PROFILE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack86
Term debt issuance and maturity profile
1
($bn)
1 Based on residual maturity and FX spot currency translation. Includes all debt issuance with contractual maturity greater than 13 months excluding US Commercial Paper and Yankee Certificates of Deposit. Contractual
maturity date for Additional Tier 1 capital instruments and callable Tier 2 capital instruments is the first scheduled conversion date or call date for the purposes of this disclosure. Any early redemption would be subject to
prior written approval from APRA, which may or may not be provided. Maturities exclude securitisation amortisation. 2 Charts may not add due to rounding. Data excludes Funding for Lending Programme.
3 Excludes securitisation.
FY25 term debt issuance
1,2
(%)
CAPITAL, FUNDING AND LIQUIDITY
By program (%)
By currency (%)By tenor
3
(%)
35
42
22
1
2
AUD
USD
EUR
GBP
Other
43
35
42
28
35
32
33
26
18
33
FY22FY23FY24FY25FY26FY27FY28FY29FY30>FY30
Funding for Lending Programme (NZ)
Tier 2 capital
Additional Tier 1 capital
Covered bond
Senior/Securitisation
IssuanceMaturities
WHOLESALE FUNDING
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack87
Indicative wholesale funding costs
(spread above 3mth Bank Bill Swap Rate)
Long term wholesale funding back book
1
(%)
Short term funding back book (%)Long term wholesale funding back book
1
(%)
1 Back book data excludes securitisation and FLP.
By program
By currency
54
22
19
5
Senior bonds
Covered bonds
Tier 2 capital
AT1 capital
0102030405060
40
29
22
3
3
3
01020304050
USD
AUD
EUR
GBP
NZD
Other
CAPITAL, FUNDING AND LIQUIDITY
58
37
6
Certificates of deposit
Commercial paper
MTN
010203040506070
By product
0
50
100
150
1 year2 year3 year4 year5 year
AUD Sep-25AUD Sep-24
USD Sep-25USD Sep-24
Charts may not add due to rounding
SUPPORTING
CUSTOMERS
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack89
CUSTOMER HIGHLIGHTS
Key highlights
1 The Forrester Digital Experience Review: Australian Mobile Banking Apps, Q3 2025. 2 ATM numbers include Westpac Group ATMs, Precinct,
ATMx and ANZ. 3 Main Financial Institution (MFI) refer to appendix for definitions.4 Includes Westpac Branches, Staff Kiosks, Cashless Locations
and Advisory centres.
SUPPORTING OUR CUSTOMERS
#1 MOBILE BANKING APP
1
Our banking app won awards for its
simple design and rich functionality
COMMITTED TO SERVICING CASH
Spent ~$350m in FY25 to support
access to cash in Australian communities
LARGEST ATM NETWORK
Westpac customers have access to
Australia’s largest fee-free network
at more than ~6,400 ATMs
2
COMMUNITY PRESENCE
621 branches
4
across Australia including
125 co-located branches and 3,300
Bank@Post locations
13M#1
#2#2
PROTECTING CUSTOMERS
Our suite of digital innovations helped
prevent $360 million in potential
customer scam losses in FY25
CustomersMobile banking app
1
Consumer
banking
3
Business
banking
3
#1 MOBILE BANKING APP
1
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack90
•Financial management tools to help businesses
track cash flows and reconcile expenses
•Shared Goals help customers save collaboratively
without merging accounts
•Savings Finder usage increased 38%
4
, helping
customers uncover saving opportunities
•Extended Westpac Verify capability introducing
Confirmation of Payee, an industry initiative
•Launched SafeBlock, allowing customers to block
their account if they suspect a scam
•SafeCall has been rolled out to ~1 million
customers, helping prevent impersonation scams
•Mobile wallet payments rose by 17% in the year,
supported by the launch of business cards
•Introduced pocket money feature allowing parents
to easily manage and reward children for chores
•Delivered personalised, relevant and timely
insights powered by AI
•Introduced multiple offset accounts providing more
choice and control to manage finances
•Voice activated natural language search usage
increased in the year
•Easily report and dispute transactions for fraud,
scams and mistaken payment
1 The Forrester Digital Experience Review: Australian Mobile Banking Apps, Q3 2025. 2 Daily average of all experiences for FY25. 3 Monthly average for FY25. 4 Monthly average of 2H25 vs 2H24.
SUPPORTING OUR CUSTOMERS
6.4M$159M1.1M CUSTOMERS
customer daily logins
2
in value rewarded to customersusing money management tools
3
MONEY MANAGEMENT TOOLS
SAFE AND SECURE
SUPERIOR FUNCTIONALITYSELF-SERVICING AND PAYMENTS
350
387
418
455
488
2H231H242H241H252H25
5.32
5.44
5.56
5.60
5.72
4.9
5.1
5.3
5.5
5.7
5.9
2H231H242H241H252H25
0.41
0.440.440.44
0.45
43
46
48
47
50
2H231H242H241H252H25
Sales (#m) % of total sales
CUSTOMERS CONTINUE TO MIGRATE TO DIGITAL
1
91
Digitally active customers (#m)
Digital transactions (#m)
395
412
429
437
458
2H231H242H241H252H25
Digital sales
2,3
Mobile wallet payments (#m)
1 For further details see page 122. 2 Consumer only. 3 1H24 sales restated.
SUPPORTING OUR CUSTOMERS
UP 2%
UP 5%
UP 16%
UP 10%
UP 2%
UP 8%
UP 7%
UP 39%
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
ENHANCING BANKING PROTECTION FOR CUSTOMERS
1
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack92
1 Westpac’s systems and processes may not always be 100% effective and are subject to risks and other factors including those described in the 2025 Risk Factors document.
•Australian-first in-app calling capability to help prevent scammers impersonate us
is now rolling out
•Available in the app to ~1 million customers
SAFECALL
Spot genuine Westpac calls
•Confirmation of Payee capability added in June 2025 to include industry wide name
& account verification
•Averted $6m in customer scam losses in FY25
VERIFY
Payee name verification
•Challenged over 1.2m transfers; customers abandoned $506m in payments in FY25
•Averted $81m in customer scam losses in FY25
SAFERPAY
Alerts of potential scams
•Launched in September 2025
•Allows customers to immediately block their account when they suspect they are
being scammed
SAFEBLOCK
Take control of your security
•Real time voice AI that assists staff spot scams
•JESS has assisted in >20k customer calls in FY25
JESS
AI assistant
SUPPORTING OUR CUSTOMERS
Advanced customer behavioural
tools combatting remote
access scams
Saved customers $69m in averted
scam losses in FY25
BROAD SUITE OF SECURITY FEATURES
DRIVING DOWN CUSTOMER LOSSES
1
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack93
FY25 customer reported scam losses 21% lower compared to FY24 and 44% lower than FY23, with
prevention measures saving customers more than $360m in FY25
Sep-23Nov-23Jan-24Mar-24May-24Jul-24Sep-24Nov-24Jan-25Mar-25May-25Jul-25Sep-25
Series1Series2
Introduction of
SaferPay
Enhancement of Westpac Verify
to digital channel
Digital Lodgement of
Scam cases launched
SafeCall customer
rollout begins
Industry Confirmation
of Payee go live
Safeblock go live
Change in scam case
definition
JESS AI solution
launched
1 Westpac’s systems and processes may not always be 100% effective and are subject to risks and other factors including those described in the 2025 Risk Factors document.
SUPPORTING OUR CUSTOMERS
Dynamic CVC reduces card
fraud by more than half
compared to customers that use
static CVC
Utilised by 35,000 customers per day
Real-time blocking of
questionable online
merchants
Saved $124m from >1m customer
scam incidences in FY25
SERVICE EXCELLENCE: LEADERSHIP ACROSS SEGMENTS
1
94
Consumer
1. For further details see page 122.
Business
SUPPORTING OUR CUSTOMERS
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
-5
0
5
10
15
Sep-23Mar-24Sep-24Mar-25
Sep-25
WBCRegional BrandsPeers
-20
-10
0
10
20
Sep-23Mar-24Sep-24Mar-25Sep-25
WBCRegional BrandsPeers
NPS®
NPS segment rankings
14.5%
33.9%
11.9%
15.4%
Peer 1Peer 2Peer 3Westpac
Group
15.9%
26.9%
16.7%
19.3%
Peer 1Peer 2Peer 3Westpac
Group
Business banking, MFI
Consumer banking, MFI
NPS®
In SME
#1
In Small Business
#3
In Commercial
#1
Call centre
#2
Mobile App
=#2
In Branch
#1
Channel NPS rankings
#=3
SERVICE EXCELLENCE: LEADERSHIP ACROSS SEGMENTS
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack95
Institutional
19
-1
11
-32
WBCPeer 1Peer 2Peer 3
1 Coalition Greenwich Voice of Client 2025 Australia Large Corporate Relationship Banking Study. 2IJ Global league table database, Australia, 12 months to 30 September 2025. 3 Source: Bloomberg $A bond league
table ex-self led as at 30/10/2025 + KangaNews $A ABS league table as at 20/10/2025. 4 Refer page 123.
New Zealand
SUPPORTING OUR CUSTOMERS
12
14
21
31
35
30
29
32
38
26
21
28
17
23
18
Sep-24Mar-25Sep-25
WestpacPeer 1Peer 2Peer 3Peer 4
Consumer NPS®Market leading relationship management
4
Relationship Strength Index (RSI)
1
821k
843k
867k
72.8%
74.1%
75.4%
Sep-23Sep-24Sep-25
Digital % of active customer base
NZ digitally active customers
4
FY25 change in RSI
1
(pts)
In SME
#2
In Institutional
#2
In Corporate
#1
In Project Finance
2
#1
$A bonds & ABS
3
#1
In Renewable Energy
2
#1
10-YEAR HIGH
FY23FY24FY25
IMPROVEMENT IN MORTGAGES
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack96
Annual median time to decision (Days)
1
7.9
5.6
5.2
4.6
11.6
9.7
5.8
5.0
FY22FY23FY24FY25
1st Party3rd Party
On-Day Settlement (%)
76.6
84.9
87.4
FY23FY24FY25
Unit cost per 3
rd
party applications ($)
SUPPORTING OUR CUSTOMERS
UP 14%
Westpac Group ranks #1 among peers
Mortgages processed on One Bank Platform
DOWN 21%
100%82%
FY22FY25
1 Prior periods have been restated
FY24FY25
FY24FY25FY24FY25
OPERATIONAL EFFICIENCY
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack97
Credit card cost per origination ($)Business lending cost per deal ($)
Personal lending cost per origination ($)Financial Market Ops cost per settlement ($)
SUPPORTING OUR CUSTOMERS
FY24FY25
DOWN 8%
DOWN 10%
DOWN 11%
DOWN 8%
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack98
SUPPORTING OUR CUSTOMERS
EMPLOYEES
Controls underpin who we
hire; how we grant access;
and how we monitor
system use
SUPPLIERS
Security reviews, limited
access to systems and
data, and continual
performance monitoring
SYSTEM SECURITY
Integrated approach to
security of our systems,
e.g. design reviews,
patching and secure
development
CUSTOMERS
Dedicated controls to help
protect customers from
fraud, including multi-
factor authentication
CORE SECURITY
Core security capabilities
across all systems, e.g.
malware prevention,
firewalls, email security
MONITORING,
INTELLIGENCE AND
NETWORKS
24/7 monitoring of attacks
and control weaknesses.
Threat detection
supported by cyber threat
intelligence and
information sharing
partnerships
CYBER SECURITY – A LAYERED DEFENCE
SYSTEM SECURITY
MONITORING, CYBER INTELLIGENCE & PEER NETWORKS
DATA
Westpac’s systems and processes may not always be 100% effective and are subject to risks and other factors including those described in the 2025 Risk Factors document.
SEGMENT RESULTS
1,126
1,097
159
31
71
1,185
(154)
(19)
2H241H25Net interest
income
Non-interest
income
Operating
expenses
Impairment
charges
Tax and NCI2H25
CONSUMER 2H25 PERFORMANCE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack100
Net profit ($m)
1 Australian consumer and business customers who have had an authenticated session (including Quickzone) on Westpac Group digital banking platforms in the prior 90 days. 2 For further details see page 122. 3
Includes all points of presence including Advisory, Community Banking Centres and Kiosks. Co-located branches are considered two points of presence.
CONSUMER
UP 8%
NIM up 5bps,
AIEA flat
UNITE increase and
investment seasonality,
partly offset by productivity
initiatives
Lower Cards and
Mortgages delinquencies
Key financial metrics ex Notable Items
2H241H252H25
Change
on 1H25
Return on average tangible equity (%)9.49.510.30.8ppts
Expense to income (%)
58.658.059.0100 bps
Net interest margin (%)
1.701.701.755 bps
Average interest-earning assets ($bn)
4544544560%
Pre-provision profit ($m)
1,7121,7281,7642%
Customer deposit to loan ratio (%)
65.567.869.7186 bps
Mortgage 90+ day delinquencies (%)
1.120.860.70(16 bps)
Key operating metrics
2H241H252H25
Change
on 1H25
Active digital banking customers
1
(#m)5.565.605.720.12
Main financial institution
2
(%)16.817.215.4(1.8ppts)
NPS® (rank)
2
#3#2=#2-
Branches
3
(#)
6266206211
Co-location branches (#)
11111412511
1,181
1,090
112
2
7
21,096
(117)
2H241H25Net interest
income
Non-interest
income
Operating
expenses
Impairment
charges
Tax and NCI2H25
BUSINESS AND WEALTH 2H25 PERFORMANCE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack101
Net profit ($m)
1 Simple +: Simplified lending pathway for originated loans to customers below $5m TCE. 2 Excluding auto finance portfolio.
BUSINESS AND WEALTH
Up 1 %
AIEA up 8%,
NIM decreased 18bps, driven
by lending growth outpacing
deposit growth
Step up in UNITE, additional
bankers, seasonality and
inflationary pressures on
salaries and wages
Improved underlying credit
and economics assumptions,
largely offset by overlays
Key financial metrics ex Notable Items
2H241H252H25
Change
on 1H25
Return on average tangible equity (%)20.319.018.6(0.4ppts)
Expense to income (%)
44.043.545.7216 bps
Net interest margin (%)
5.374.944.76(18 bps)
Average interest-earning assets ($bn)
101.3106.3114.48%
Pre-provision profit ($m)
1,7411,6931,690(0%)
Customer deposit to loan ratio (%)
141.5138.8132.2(Large)
Stressed exposures to TCE (%)
5.565.265.01(25 bps)
Key operating metrics
2H241H252H25
Change
on 1H25
Business lending time to decision (days)9.08.07.9(0.1)
Simple + originated loans (#)
1
2,0202,4032,90921%
Net loans ($bn)
2
100.0106.8115.28%
Deposits ($bn)144.3148.3152.33%
New Transaction Accounts Opened (#,
000s)
64.158.375.530%
BT PANORAMA
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack102
FUA ($m)Net flows excluding benefit payments
2
($m)
Average FUA per account ($’000)Managed accounts FUA ($m)
1 Investment Trends Platform Competitive Analysis & Benchmarking Report (released Feb’ 25). Best Client Portal seventh consecutive year (2018 – 2024) and Best Mobile App six years (2018, 2019, 2020, 2021, 2022
and 2024). 2 Represents benefit payments from pension accounts; including benefit payments BT Panorama net flows were $2.5b for the 6 months to Sep-25. 3 Investment Trends Adviser Tech Needs Report (June 25).
4 Chant West Platform rating (assigned Aug 2025), awarded Highly Recommended for 4th consecutive year. 5 Investment Trends SPDR ETFs/Investment Trends Managed Accounts Report (Mar 2025). See
https://www.bt.com.au/about-bt/bt-financial-group/overview/awards.html for more awards.
BUSINESS AND WEALTH
102,872
113,328
118,593
120,501
132,650
Sep-23Mar-24Sep-24Mar-25Sep-25
1,690
1,952
3,146
3,364
5,115
2H231H242H241H252H25
447
465
496
524539
Sep-23Mar-24Sep-24Mar-25Sep-25
15,492
18,683
21,294
23,586
28,248
Sep-23Mar-24Sep-24Mar-25Sep-25
Up 33%
Up 20%
Up 9%
Up 3%
Up 63%
Up 52%
Up 12%
Up 10%
WINNER OF BEST CLIENT PORTAL AND MOBILE APP
1
LARGEST SHARE OF ADVISER RELATIONSHIPS FOR PRIMARY PLATFORM CHOICE
3
5 APPLES - HIGHLY RECOMMENDED
4
HIGHEST BRAND AWARENESS FOR MANAGED ACCOUNTS
5
686
775
51
87
800
(25)
(77)
(11)
2H241H25Net interest
income
Non-interest
income
Operating
expenses
Impairment
charges
Tax and NCI2H25
INSTITUTIONAL 2H25 PERFORMANCE
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack103
Net profit ($m)
WESTPAC INSTITUTIONAL BANK
AIEA up 2%, partly offset by a
5bps reduction in NIM ex.
Markets
Higher investment related costs
UP 3%
Key operating metrics
2H241H252H25
Change
on 1H25
Net interest margin ex. Markets (%)
2.13
2.031.98(5bps)
Net loans ($bn)
100.6107.0
117.7
10%
Customer Deposits ($bn)
119.8122.3
131.4
7%
Lending and deposit revenue
($m)
1,2891,3321,3914%
Sales and risk management income ($m)
3914214589%
Key financial metrics ex Notable Items
2H241H252H25
Change
on 1H25
Return on average tangible equity (%)
14.1
14.814.8-
Net interest margin (%)
1.82
1.761.793bps
Expense to income ratio (%)
43.2
44.242.4(183bps)
Average interest-earning assets ($bn)
126.6
134.2137.42%
Pre-provision profit ($m)
993
1,0241,13711%
Customer deposit to loan ratio (%)
119.1
114.3111.6
(271bps)
Stressed exposures to TCE (%)
0.760.780.70(8bps)
Higher markets revenue
and lending fees
579
526
89
4
110
671
(3)
(55)
2H241H25Net interest
income
Non-interest
income
Operating
expenses
Impairment
charges
Tax and NCI2H25
NEW ZEALAND 2H25 PERFORMANCE
1
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack104
Net profit ($m)
1 In NZ$ unless otherwise noted.
NEW ZEALAND
Higher investment spend and
software amortisation, offset by
productivity initiatives
UP 28%
Charts may not add due to rounding.
Key operating metrics
2H241H252H25
Change
on 1H25
Net loans ($bn)102.1103.2106.33%
Customer Deposits ($bn)79.780.981.00%
Customer deposit to loan ratio (%)78.178.476.2(219 bps)
Customers (#m)1.511.511.51-
Digital active customers (#m)0.840.850.872%
Branches (#) 10610698(8)
ATMs (#) 385374358(16)
Key financial metrics ex Notable Items
2H241H252H25
Change
on 1H25
Return on average tangible equity (%)14.112.515.32.8 ppts
Expense to income (%)45.549.046.3(268 bps)
Net interest margin (%)2.232.262.3913 bps
Average interest-earning assets ($bn)119.4121.3121.50%
Pre-provision profit ($m)80676485412%
Stressed exposures to TCE (%)1.731.631.47(16 bps)
Mortgage 90+ day delinquencies (%)0.490.540.46(8 bps)
Collectively assessed
provision benefits, primarily
from mortgages
NIM up 13bps
68
69
71
1
1
1
33
33
34
102
103
106
Sep-24Mar-25Sep-25
NEW ZEALAND BALANCE SHEET (NZ$)
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack105
Net loans ($bn)Customer deposits ($bn)
NEW ZEALAND
Loans and % of totalCustomer deposits and % of total
1.3
102.1
103.2
1.8
106.3
2H241H25ConsumerBusiness2H25
79.7
80.9
1.2
81.0
(1.1)
2H241H25ConsumerBusiness2H25
UP 3%FLAT
39
21
21
81
Sep-25
39
21
21
81
Mar-25
Term deposits
SavingsTransactionHouseholdBusinessInstitutionalMortgagePersonalBusiness
67%
1%
32%
61%
22%
17%
59%22%
19%
SUSTAINABILITY
SUSTAINABILITY
SUSTAINABILITY STRATEGY
107
ALWAYS DELIVER, SAFELY
MAKE AN IMPACT
OWN IT
CUSTOMER
CUSTOMER OBSESSED
Proactively support
customers’ sustainability
goals through finance,
expertise and advocacy
PEOPLE
BEST TEAM, TRUSTED EXPERTS
Strengthen sustainability
learning so our people bring
expertise and balance into
every decision and interaction
RISK
SAFE AND STRONG
Actively manage material
sustainability risks and
impacts to customers, our
business and community
PERFORMANCE
EXECUTION EXCELLENCE
CHANGE
BRILLIANT AT DELIVERY
Partner with customers to help
deliver our positions on key
sustainability topics, including
climate, natural capital, human
rights and equitable
Indigenous participation
WE COMMIT TO
HOW
TAKING ACTION NOW TO CREATE A BETTER FUTURE
W H AT
TO BE OUR CUSTOMERS’ #1 BANK AND PARTNER THROUGH LIFE
•Support the goals of the Paris Agreement by achieving our Scope 1, 2 and 3 greenhouse gas emissions targets by 2030
•Partner with customers to implement green, transition, social (including housing affordability) or sustainability activities by providing $55bn sustainable
lending and $40bn sustainable bond facilitation activities by 2030
•Support customers’ economic resilience and prosperity by increasing our footprint and growing lending to regional businesses and communities faster than in
metro Australia
SUSTAINABILITY
OUTCOMES
Create Sustainability
Outcomes for our
customers, communities
and shareholders
FOCUS AREAS
REGIONAL PROSPERITY
Regional business growth, local employment,
community and environmental outcomes
CLIMATE TRANSITION
Decarbonisation and resilience for
customers and our operations
HOUSING AFFORDABILITY
New housing supply, alternative pathways to
ownership for customers and housing availability for
underserved communities
These Sustainability pages contain forward-looking statements and statements of expectation. Refer to the disclaimer at the back of this pack. Details on our sustainability commitments, targets
and other supporting information is in our 2025 Annual Report, Sustainability Report and Sustainability Index and Datasheet. See website for more information on our sustainability strategy.
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
SUSTAINABILITY
CLIMATE TRANSITION PLAN
76% reduction in scope 1 and 2 absolute
emissions by 2030 (2021 baseline)
50% reduction in upstream scope 3
absolute emissions by 2030 (2021 baseline)
2030 scope 3 financed emissions sector
targets (see page x for details)
$55 billion in sustainable finance
lending at 30 Sep-30
$40 billion in sustainable bond
facilitation between 1 Oct-21 and 30
Sep-30
NET-ZERO, CLIMATE RESILIENT
OPERATIONS
SUPPORTING OUR CUSTOMERS’
PHYSICAL RESILIENCE
PARTNERING WITH CUSTOMERS TO
DECARBONISE
TARGETS
FOCUS AREAS
Other sustainability disclosures include
Modern Slavery Statement
Human Rights Position Statement and Action Plan
Natural Capital Position Statement
Sustainable Finance Framework
Climate Transition Plan
New Zealand – 2025 Sustainability Update and Climate Report
Reports available at westpac.com.au/sustainability
Key climate and sustainability disclosures
2025 Annual Report:
Details financial and non-
financial performance
2025 Sustainability Report: Details
our approach to managing climate-
related risks and opportunities
2025 Sustainability Index and
Datasheet: Details key sustainability
performance metrics in one place
Maintain operational resilience to the physical
impacts of climate change.
Transition our lending portfolios to support the
goals of the Paris Agreement.
Adopt a portfolio-wide view of exposure and
vulnerability to physical climate risks.
ASPIRATIONS
AMIBITION
TO BECOME A NET-ZERO, CLIMATE RESILIENT BANK
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack108
Refer to Appendix of our 2025 Sustainability Report for details of the methodologies for estimating our emissions.
UNDERSTANDING OUR CARBON ACCOUNT TO TAKE ACTION NOW
109
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
SUSTAINABILITY
1 Sectors in our financed emissions analysis are based on ANZSIC codes. These sector definitions differ from those used for: (i) our financed emissions sector targets and, (ii) our reporting of Group Exposure by Sector
included in our Sustainability Report and Sustainability Index and Datasheet. 2 Financed emissions are reported one year in arrears due to data availability. Data will be reported in FY26.
Estimated FY24 financed emissions
1
(% of total)
Chart does not add to 100% due to rounding; Other not shown (<1%)
Scope 1: Direct emissions from
controlled facilities, including fleet
fuels, refrigerants, gas, diesel, LPG.
4,714<0.16,262
Scope 3 financed emissions
:
Indirect emissions related to our
lending. Share of customers’ scope 1
& 2 emissions.
Not
Reported
2
>99
31.6
MtCO
2
-e
Scope 2
: Indirect emissions
(market-based) from the generation of
energy we have purchased, including
purchased electricity.
<0.11,9632,303
Scope 3 upstream emissions
:
Indirect emissions related to selected
sources from our operations and
supply chain.
<0.556,46957,655
Greenhouse gas (GHG) emissions by source (tco
2
-e)
% of
total
FY25
FY24
18%
17%
16%
10%
9%
7%
7%
6%
3%
3%
2%
2%
1%
Agriculture,
forestry & fishing
Manufacturing
Utilities
Residential Mortgages
Transport & storage
Trade
Construction
Mining
Services
Accommodation,
cafes & restaurants
Property services &
business services
Commercial Real Estate
Finance & insurance
FY24 ABSOLUTE
SCOPE 1 & 2
FINANCED EMISSIONS:
31.6 MtCO
2
-e
Reduction in market-based
emissions from 2021 baseline (%)FY24FY25
2025
Target
2030
Target
Target
Progress
Scope 1 and 2 emissions
(86)
(89)(64)(76)Surpassed
Scope 3 upstream emissions
(41)
(42)NA(50)On track
Progress on operational emissions targets
1
110
Progress on our financed emissions targets
1
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
OUR EMISSIONS REDUCTION TARGETS
SUSTAINABILITY
1 Refer to the Appendix of our 2025 Sustainability Report for details of the methodologies for estimating our emissions. 2 Prior year baseline and progress for Residential Real Estate target are as at 31 August, and as at
30 September for FY24. Baselines: Commercial and Residential Real Estate – 2022; Aluminium – 2023; all other financed emissions – 2021.. 3 Prior year numbers restated for Australia and New Zealand Agriculture
targets, refer to our 2025 Sustainability Report for details. 4 Customers within the oil and gas, metallurgical coal mining, and coal-fired power generation sectors. See our Sustainability Customer Requirements for more
information including definitions for National or Energy Security. 5 Percentage of customers assessed in advance of their request for new/renewed corporate lending or bond facilitation.
Carbon-intensive sector requirements
Rating
Action if new / renewed facilities
are requested
% of
customers
assessed
5
A
Accept & monitor customer CTP
execution.
55
B
Accept & engage to encourage further
development of CTP
36
C
Escalate to governance committee.
New/renewed facilities may be declined.
0
D
Decline new/renewed facilities9
Preliminary CTP assessment of new or
renewed lending or bond facilitation (facilities)
•From 30 Sep-25, new or renewed corporate lending and
bond facilitation for in-scope customers
4
are subject to
Customer CTP Evaluation.
•The evaluation assesses emissions targets, strategy, capital
allocation, and climate governance, and rates customers from
A to D.
•Customers must have interim Scope 1 and 2 decarbonisation
target/s aligned to the well below 2°C goal of the Paris
Agreement to qualify for financing.
•Customers rated D would not be eligible for financing. If the
finance supports National or Energy Security
4
, we may
escalate to the appropriate governance committee for review.
Change in emissions from baseline year
2
(%)
Westpac sectorFY23FY24
2030 Target
Implied % change
Power generation
(23)(38)
(62)
Upstream Oil and Gas
(45)(55)
(23)
Thermal coal mining
(81)(94)
(100)
Aviation (passenger aircraft operators)
(45)(47)
(60)
Steel production
Not reported (NR) - As at 30 Sep 24, we are on track to achieve our
2030 target and progress is below our emissions pathway. Given the
small number of customers, this information is not publicly disclosed.
Aluminium
Cement production
(5)NR
(14)
Commercial Real Estate (Offices)
(18)(27)
(59)
Residential Real Estate (Australia)
(11)(14)
(56)
Australia Beef and Sheep
3
22
(9)
Australia Dairy
3
(7)(7)
(10)
New Zealand Beef and Sheep
3
2(4)
(9)
New Zealand Dairy
3
(2)(6)
(10)
68%
32%
111
•$63.4m for EV/Hybrid vehicles loans in Australia.
•$182.4m for the Greater Choices home loan and
EV loan in New Zealand.
Our Sustainable Finance Framework defines how we classify sustainable finance transactions as Green,
Transition, Social or Sustainability. We also have 2030 targets for lending and bond facilitation.
•89.2% of our electricity sector lending to
renewables.
•Coordinating Arranger and Bookrunner for
AirTrunk’s SYD1 and SYD2 term loan financing,
supporting biodiversity, conservation and
disaster relief, delivered through its social impact
program.
•Joint Sustainability Coordinator for Bluecurrent’s
NZ$2.5bn Green Loan supporting smart
electricity and water metering across Australasia.
•Sustainability Coordinator and Lead Manager for
Auckland Council’s first Sustainability-Linked
Bond. Auckland Council is targeting to plant one
million native forest stems by 2027.
•Ranked #1 in the 2025 NZ Sustainable Bond
League Table
4
.
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
CLIMATE-RELATED OPPORTUNITIES AND TARGETS
SUSTAINABILITY
1 Total committed exposure (TCE) or balance (for residential mortgages) at 30 Sept. TCE is the sum of loan balance and other committed facilities. For this purpose, TCE must meet the requirements of our Sustainable
Finance Framework, and so excludes pre settlement risk, secondary market trading and the underwriting of facilities. 2 Bond facilitation target and progress is measured as the cumulative sum of our proportionate share of
qualifying bonds facilitated from 1 Oct-21. Prior years are restated following data quality reviews which identified additional bonds not previously included. 3 Includes loans that have not been assessed under our SFF. 4
KangaNews, 2025 NZ Sustainable Bond – All Issuers – Incl Self-led Deals League Table at 30 Sep-25.
BOND FACILITATION
2
(CUMULATIVE $BN)
LENDING (TCE
1
$BN)
Sep-23
Sep-24Sep-30
19.1
28.7
55.0
Sep-22
Sep-23Sep-24Sep-30
4.9
9.9
40
Lending
Target
Bond facilitation
Target
20%
14%
24%
4%
15%
9%
8%
Power Generation
4%
Transport
Commercial
Real Estate
Australian Mortgages
Healthcare
2%
Education
Other
Labelled
Lending
New Zealand (Agri)
New Zealand (non-Agri)
LENDING BY SECTOR (SEP-25 %)
BOND FACILITATION BY COUNTRY (%)
$39.4bn
Australia
New Zealand
$22.3bn
+37%
Sep-25
Sep-25
Sustainable finance highlights
39.4
22.3
Other climate-related
opportunities (Sep-25)
3
15.9
ECONOMICS
AUSTRALIAN AND NEW ZEALAND ECONOMIC FORECASTS – (%) AS
AT 31 OCT 2025
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack113
Key economic indicators
1 Year average growth rates. 2 Through the year growth rates.
Key economic indicatorsPrivate sector credit growth (% Ann)
Sources: RBA, Statistics NZ, Westpac Economics.
1 Year average growth rates. 2 Through the year growth rates.
ECONOMICS
Sources: RBA, Westpac Economics.
Sources: IMF, RBA, Statistics NZ, Westpac Economics
20242025Calendar Years
Q2Q3Q4Q1EQ2FQ3FQ4F20242025F2026F2027F
WorldGDP
1
-------3.33.23.13.2
AustraliaGDP
2
0.90.81.31.41.82.12.11.32.12.42.6
Unemployment – end period
4.04.14.04.14.24.34.44.04.44.54.5
CPI headline – year end
3.82.82.42.42.13.23.72.43.72.72.6
Interest rates – cash rate
4.354.354.354.103.853.603.604.353.603.103.10
New ZealandGDP
2
-0.5-1.7-1.4-0.6-0.60.81.2-1.41.23.03.4
Unemployment – end period
4.74.95.15.15.25.35.45.15.44.94.3
Consumer prices
3.32.22.22.52.73.02.92.22.92.32.1
Interest rates – official cash rate
5.505.254.253.753.253.002.254.252.252.503.50
20242025F2026F2027F
AustraliaCredit growth
Total – year end
6.57.36.55.8
Housing – year end
5.56.66.55.6
Business – year end
8.99.07.26.6
New ZealandCredit growth
Total – year end
3.14.25.04.9
Housing – year end
3.85.76.35.7
Business – year end
2.11.92.63.4
-8
-4
0
4
8
12
16
Sep-11Sep-13Sep-15Sep-17Sep-19Sep-21Sep-23Sep-25
Total credit AustraliaHousing Australia
Business AustraliaTotal credit New Zealand
Westpac
f’ casts
% ann
Macro-
prudential
measures
2019 electionCOVID-19‘Delta’
Macro-prudential
measures
AUSTRALIAN HOUSING MARKET – PRICES UPTURN MODERATES
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack114
Dwelling prices (3mth annualised)
Dwelling prices (%) – (to September 2025)Dwelling prices (annual %)
dwelling prices (%, 3 month annualised)
ECONOMICS
* Average last 10yrs. Sources: CoreLogic, Westpac Economics
Sources: CoreLogic, Westpac Economics
Capital cityAvg*
2022202320242025F2026F
Sydney
5.4
-11.411.32.758
Melbourne
4.1
-7.14.2-2.1410
Brisbane
6.7
-1.913.511.478
Perth
4.4
4.216.218.488
Australia
5.3-6.610.15.169
Capital cityPop’nLast 3 mths Last 12 mths Last 5 years
Sydney5.6mUp 2.1%Up 3.0%Up 37.9%
Melbourne5.4mUp 1.0%Up 1.9%Up 17.5%
Brisbane2.8mUp 3.5%Up 8.8%Up 80.1%
Perth2.4mUp 4.0%Up 7.5%Up 82.7%
-20
-15
-10
-5
0
5
10
15
20
25
30
35
40
Sep-17Sep-18Sep-19Sep-20Sep-21Sep-22Sep-23Sep-24Sep-25
%
rate cutsrate hikes
Sources: CoreLogic, Westpac Economics
-20
-10
0
10
20
30
40
0
500
1000
1500
2000
2500
3000
201020122014201620182020202220242026
Annual growth (right axis)
Level (left axis)
NEW ZEALAND HOUSING MARKET – ACTIVITY HAS STABILISED,
STILL SUBDUED
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack115
Monthly house sales and prices (% Yr)
-20
-10
0
10
20
30
40
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
20042007201020132016201920222025
Sales
%YR
Sales (lhs)House prices (rhs)
Dwelling prices (index)
750
1250
1750
2250
2750
750
1250
1750
2250
2750
2007200920112013201520172019202120232025
AucklandCanterbury
WellingtonOther regions
IndexIndex
Dwelling PricesDwelling prices (%) – (to Aug-25)
Capital cityPop’nLast 3 mths Last 12 mths Last 5 years
Auckland
1.8mDown 1%Down 1%Up 4%
Wellington
0.5mDown 1%Down 3%Up 1%
Canterbury
0.7mUp 1%Up 3%Up 42%
Nationwide
5.3mFlatFlatUp 15%
Sources: REINZ, Westpac Economics
ECONOMICS
Sources: REINZ, Westpac Economics.
Source: REINZ
Forecast
(Annual %)
Ave. past 10
years
2022202320242025F2026F
Nationwide
7%-13%-1%-1%+1%+5%
%YR
Index = 1000 in 2010
Sources: REINZ, Westpac Economics
Westpac
forecasts
-15
-11
-7
-3
1
5
9
13
Apr-19Oct-19Apr-20Oct-20Apr-21Oct-21Apr-22Oct-22Apr-23Oct-23Apr-24Oct-24Apr-25
Real Household Disposable Income %yrReal Household Consumption %yr
CONSUMER INCOME & SPEND
1
116
Real household disposable incomes and consumption are recovering
State contribution to annual change in buffers
(4)
(2)
-
2
Sep-22Mar-23Sep-23Mar-24Sep-24Mar-25Sep-25
NSW/ACTVIC/TASSA/NTQLDWATotal (no. of months)
No.
months
%
1 Source: Westpac DataX, Westpac Economics, ABS. 2 Mortgage holders only. Ratio of savings balance to essential expenses.
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
2025
2022
2023
2024
85
90
95
100
105
Mar-20Sep-20Mar-21Sep-21Mar-22Sep-22Mar-23Sep-23Mar-24Sep-24Mar-25
Sep-25
CommercialSME
-5.0
-2.5
0.0
2.5
5.0
Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2
ExpensesIncomeTotal
Index: March 2020 = 100, including debt servicing
BUSINESS CUSTOMER CASHFLOW CONDITIONS IMPROVING
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack117
Cashflow trends
1 Source: Westpac Economics, Macrobond.
Cashflow gauge (income to expense)
Commercial continues to
improve faster than SME’s
The share of SME’s with improving
cashflow conditions is increasing
Excluding debt servicing payments, contribution to quarterly % change
Improvement in income
to expense ratio
Deterioration in income
to expense ratio
APPENDIX
APPENDIX 1: NET PROFIT
1
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$m2H241H252H25
Change
1H25 – 2H25 (%)
Net interest income9,5659,5699,9044
Non-interest income1,3821,4241,56710
Net operating income10,94710,99311,4714
Expenses(5,549)(5,698)(6,218)9
Pre-provision profit5,3985,2955,253(1)
Impairment charges(175)(250)(174)(30)
Tax and non-controlling interests (NCI)(1,616)(1,588)(1,564)(2)
Net profit3,6073,4573,5152
1 For further information refer to Westpac’s 2025 Full Year Financial Results.
APPENDIX
Impaired
exposures
Includes 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, cash flow,
and the net realisation of value of assets to which recourse isheld:
•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; or
•Any other facilities where the full collection of interest and principal is indoubt.
Stressed
exposures
Watchlist and substandard, non-performing not impaired, and impaired exposures
Total committed
exposures (TCE)
Represents the sum of the committed portion of direct lending (including funds
placement overall and deposits placed), contingent and pre-settlement risk plus the
committed portion of secondary market trading and underwriting risk
Watchlist and
substandard
Loan facilities where customers are experiencing operating weakness and financial
difficulty but are not expected to incur loss of interest or principal
APPENDIX 2: DEFINITIONS – CREDIT QUALITY
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack120
APPENDIX
<90 days
past due
Includes facilities less than 90 days past due and those credit exposures, that are in
default, but where it is expected that the full value of principal and accrued interest can be
collected, generally by reference to the value of security held
90+ days
past due
Includes facilities 90 days or more past due, and those credit exposures that are in default,
but where it is expected that the full value of principal and accrued interest can be
collected, generally by reference to the value of security held
Provision for
expected credit
losses
Expected credit losses (ECL) 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
Collectively
assessed provisions
(CAP)
CAP for ECL under AASB 9 represent the 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
Individually
assessed provisions
(IAP)
Provisions raised for losses on loans that are known to be impaired and are assessed on an
individual basis. The estimated losses on these impaired loans 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
Stage 1: 12 months
ECL – performing
For financial assets where there has been no significant increase in credit risk since
origination a provision for 12 months ECL is recognised. Interest revenue is calculated on
the gross carrying amount of the financial asset
Stage 2: Lifetime
ECL – performing
For financial assets where there has been a significant increase in credit risk since
origination but where the asset is still performing a provision for lifetime ECL is recognised.
Interest revenue is calculated on the gross carrying amount of the financial asset
Stage 3 Lifetime
ECL – non-
performing
For financial assets that are non-performing a provision for lifetime ECL is recognised.
Interest revenue is calculated on the carrying amount net of the provision for ECL rather
than the gross carrying amount
Segments
Consumer
Consumer provides banking products and services, including mortgages, credit cards,
personal loans, and savings and deposit products to Australian retail customers
Business and Wealth
Business and Wealth serves the banking and wealth needs of Australian customers,
including small business, Agribusiness and Commercial businesses
WIB
Westpac Institutional Bank (WIB) provides a broad range of financial products and
services to corporate, institutional and government customers
Westpac NZ
Westpac New Zealand provides banking, wealth and insurance products and
services for consumer, business and institutional customers in New Zealand
Earnings drivers
Average interest-earning
assets (AIEA)
The average balance of assets held by the Group that generate interest income.
Where possible, daily balances are used to calculate the average balance
Net interest margin
Calculated by dividing net interest income by average interest-earning assets
(annualised where applicable)
Core net
interest margin
Calculated by dividing net interest income excluding Notable Items and Treasury &
Markets by average interest-earning assets (annualised where applicable)
Pre-provision profit
Net operating income less operating expenses
NCI
Non-controlling interests
Full-time equivalent
employees (FTE)
A calculation based on the number of hours worked by full and part-time employees
as part of their normal duties. For example, the full-time equivalent of one FTE is 76
hours paid work per fortnight
Capital and liquidity
Capital ratios
As defined by APRA (unless stated otherwise)
Committed liquidity
facility (CLF)
The RBA makes available to Australian Authorised Deposit-taking Institutions (ADIs)
a CLF that, subject to qualifying conditions, can be accessed to meet LCR
requirements under APS210 Liquidity. APRA announced in September 2021 that
ADIs subject to the LCR should reduce their CLF usage to zero by 1 January 2023
High quality liquid
assets (HQLA)
Assets which meet APRA’s criteria for inclusion as HQLA in the numerator of the LCR
Internationally
comparable ratios
Internationally comparable regulatory capital ratios are Westpac’s estimated ratios
after adjusting the capital ratios determined under APRA Basel III regulations for
various items. Analysis aligns with the APRA study titled “International capital
comparison study” dated 13 July 2015
Leverage ratio
As defined by APRA (unless stated otherwise). Tier 1 capital divided by ‘exposure
measure’ and expressed as a percentage. ‘Exposure measure’ is the sum of on-
balance sheet exposures, derivative exposures, securities financing transaction
exposures and other off-balance sheet exposures
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 and CLF over the total net cash out-flows in a modelled 30 day defined
stressed scenario
Net stable funding ratio
(NSFR)
The NSFR is defined as the ratio of the amount of available stable funding (ASF) to
the amount of required stable funding (RSF) defined by APRA. The amount of ASF is
the portion of an ADI’s capital and liabilities expected to be a reliable source of funds
over a one year time horizon. The amount of RSF is a function of the liquidity
characteristics and residual maturities of an ADI’s assets and off-balance sheet
activities. ADI’s must maintain an NSFR of at least 100%
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 (ie. market and operational risk), RWA is
determined by multiplying the capital requirements for those risks by 12.5
APPENDIX 2: DEFINITIONS – SEGMENTS, EARNINGS DRIVERS,
CAPITAL AND LIQUIDITY
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
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Digital
Digitally active
Australia: Consumer and business customers who have had an
authenticated session (including Quickzone) on Westpac Group digital
banking platforms in the prior 30 days
New Zealand: Customers that have logged into the Westpac NZ digital
banking platform at least once in the prior 90 days
Digital sales
The percentage of quality sales that were digitally initiated in a 12-week
period (percentage against the count of all quality sales in that 12-week
period)
Digital transactions
Digital transactions including all payment transactions (Transfer Funds,
Pay Anyone and BPAY) within Westpac Live and Compass, excl. Corporate
Online and Business Banking online
Mobile Wallet
Payments
Count of transactions that use a digital card via apple pay, fitbit pay,
garmin pay, google pay and samsung pay products.
Main Financial Institution
MFI share
MFI share results are based on the number of customers who have a Main
Financial Institution (MFI) relationship with an institution, as a proportion of
the number of customers that have a MFI relationship with any institution
Consumer
MFI share
Source: Roy Morgan Single Source, September 2024, March 2025 and
September 2025 6MMA. MFI Banking Group customers
Business
MFI share
Source: RFI Global, September 2024, March 2025 and September 2025
6MMA. MFI Banking Group customers
Net Promoter Score
Net Promoter Score or
NPS
®
Net Promoter
®
Score measures the net likelihood of recommendation to
others of the customer’s main financial institution for retail or business
banking. Net Promoter
®
, NPS
®
, NPS Prism
®
, and the NPS-related
emoticons are registered trademarks of Bain & Company, Inc., NICE
Systems, Inc., and Fred Reichheld. Net Promoter Score
SM
and Net Promoter
System
SM
are service marks of Bain & Company, Inc., NICE Systems, Inc.,
and Fred Reichheld. Using an 11-point numerical scale where 10 is
‘Extremely likely’ and 0 is ‘Not at all likely’, Net Promoter Score is
calculated by subtracting the percentage of Detractors (0-6) from the
percentage of Promoters (9-10).
NPS – Consumer
Source: RFI Consumer Atlas, September 2023 – September 2025, 6MMA.
MFI customers.
Mortgage Product NPS
Source: 5D Strategic NPS Program, September 2023 – September 2025,
6MMA, Westpac AFI mortgage customers.
Mortgage Product NPS measures the net likelihood of recommendation to
others of the mortgage product via 1
st
party (direct with the provider), or
3
rd
party (through a broker).
Channel NPS
Source: 5D Strategic NPS Program, September 2025, 6MMA, Westpac
MFI customers who have used the channel in the last 4 weeks.
NPS – Business
Source: RFI Business Atlas, September 2023 – September 2025, 6MMA.
MFI businesses. Business includes Small Business, SME (12MMA) and
Commercial customers, weighted by numbers of businesses in each
segment.
NPS Rank
The ranking refers to Westpac’s position relative to the other three major
Australian banks (ANZ, CBA and NAB).
Regional Brands
St.George Bank, Bank of Melbourne and BankSA.
APPENDIX 2: DEFINITIONS – DIGITAL, MAIN FINANCIAL
INSTITUTION, AND NET PROMOTER SCORE
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Net promoter score
Relationship Management - Corporate (Westpac NZ)
Source: Business Finance Monitor (BFM) conducted by research agency Kantar, ongoing online and phone survey among business owners and financial
decision makers in businesses with an annual gross turnover of $5 million - $150 million. Percentage of respondents who have contact at least once a month
with a specific named account manager or relationship manager at their main business bank and gave an 8-10 rating when asked to rate their main business
bank’s performance via their ‘specific named contact (i.e. account manager or relationship manager)’. Scale is from 1 to 10 where 1= Poor and 10=Perfect
Relationship Management - SME (Westpac NZ)
Source: NZ SME Market Monitor conducted by research agency RFI Global, quarterly online survey among business owners and financial decision makers in
businesses with an annual gross turnover of $30,000 - $5 million. Percentage of respondents who have a dedicated Relationship Manager with their main
business bank and gave an 8-10 rating when asked how satisfied they are with the experience with their Relationship Manager. Scale is from 0 to 10 where
0= Not at all satisfied and 10=Extremely satisfied
Relationship Management -Institutional (Westpac
NZ)
Source: Coalition Greenwich 2025 Voice of Client NZ Large Corporate Relationship Banking Study
Active customers
Digitally active customers (Westpac NZ)
New Zealand customers that have logged into the Westpac NZ digital banking platform at least once in the prior 90 days
Active customers (Westpac NZ)
New Zealand customers who satisfy one or more of the following criteria: (i) Have an income-generating product ‘in force’ (ii) Have made a customer-initiated
financial transaction in the past 6 months on an account-based product and/or (iii) Have a balance of more than NZ$400 across current or savings accounts
APPENDIX 2: DEFINITIONS – NEW ZEALAND
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123
INVESTOR RELATIONS TEAM – CONTACT US
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack
124
Contact us
SHARE REGISTRY CONTACTINVESTOR RELATIONS CONTACT
For all shareholding enquiries relating to:
•Address details and communication preferences
•Updating bank account details, and participation in the dividend
reinvestment plan
For all matters relating to Westpac’s strategy,
performance and results
1800 804 255
westpac@cm.mpmas.mufg.com
au.investorcentre.mpms.mufg.com
+61 2 9178 2977
investorrelations@westpac.com.au
westpac.com.au/investorcentre
Lucy Wilson
Head of Corporate Reporting and ESG
Catherine Garcia
Head of Investor Relations, Institutional
Arthur Petratos
Manager, Shareholder Services
Laura Babaic
Graduate, Investor Relations
Jacqueline Boddy
Head of Debt Investor Relations
Justin McCarthy
General Manager, Investor Relations
James Wibberley
Manager, Investor Relations
Nathan Fontyne
Senior Analyst, Investor Relations
DISCLAIMER
Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack125
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 upon as 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.
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 that are not historical facts. Forward-looking statements appear in a number of places in this presentation and include statements regarding our current intent, belief or expectations with respect to our
business and operations, macro and micro economic and market conditions, results of operations and financial condition, capital adequacy, liquidity 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.
We use 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’, ‘objective’ or other similar words to identify forward-looking statements, or otherwise identify forward-looking statements. These forward-looking statements reflect our 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 our control (and the control of our officers, employees, agents and advisors), and have been made based on management’s and/or the
board’s current expectations or beliefs concerning future developments and their potential effect upon us.
Forward-looking statements may also be made, verbally or in writing, by members of Westpac’s management or Board in connection with this presentation. Such statements are subject to the same limitations, uncertainties, assumptions and
disclaimers set out in this presentation.
There can be no assurance that future developments or performance will align with our expectations or that the effect of future developments on us will be those anticipated. Actual results could differ materially from those we expect or which are
expressed or implied in forward-looking statements, depending on various factors including, but not limited to, those described in the sections titled ‘Our Operating Environment’ and ‘Risk Management' in our 2025 Annual Report as well as the 2025
Risk Factors document 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.
Except as required by law, we assume no obligation to revise or update any forward-looking statements contained in this presentation, whether from new information, future events, conditions or otherwise, after the date of this presentation.
We also make statements about our processes and policies (including what they are designed to do) as well as the availability of our systems or product features. Systems, processes and product features can be subject to disruption, and may not
always work as intended, so these statements are limited by the factors described in the section titled ‘Risk Management’ in our 2025 Annual Report as well as the 2025 Risk Factors.
Further important information regarding climate change and sustainability-related statements
This presentation contains forward-looking statements and other representations relating to environment, social and governance (ESG) topics, including but not limited to climate change, net-zero, climate resilience, natural capital, emissions intensity,
human rights and other sustainability related statements, commitments, targets, projections, scenarios, risk and opportunity assessments, pathways, forecasts, estimated projections and other proxy data. These are subject to known and unknown risks,
and there are significant uncertainties, limitations, risks and assumptions in the metrics and modelling on which these statements rely.
In particular, the metrics, methodologies and data relating to climate and sustainability are rapidly evolving and maturing, including variations in approaches and common standards in estimating and calculating emissions, and uncertainty around future
climate and sustainability related policy and legislation. There are inherent limits in the current scientific understanding of climate change and its impacts. Some material contained in this presentation may include information including, without
limitation, methodologies, modelling, scenarios, reports, benchmarks, tools and data, derived from publicly available or government or industry sources that have not been independently verified. No representation or warranty is made as to the
accuracy, completeness or reliability of such information. There is a risk that the estimates, judgements, assumptions, views, models, scenarios or projections used by Westpac may turn out to be incorrect. These risks may cause actual outcomes,
including the ability to meet commitments and targets, to differ materially from those expressed or implied in this presentation. The climate and sustainability related forward-looking statements made in this presentation are not guarantees or
predictions of future performance and Westpac gives no representation, warranty or assurance (including as to the quality, accuracy or completeness of these statements), nor guarantee that the occurrence of the events expressed or implied in any
forward-looking statement will occur. There are usually differences between forecast and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material. Westpac will continue to
review and develop its approach to ESG as this subject area matures
DISCLAIMER
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.