WBC 3Q26 Investor Discussion Pack

Westpac Banking Corporation
Level 18, 275 Kent Street
Sydney, NSW, 2000
ASX RELEASE
10 August 2026
Westpac Third Quarter 2026 Investor Discussion Pack
Westpac Banking Corporation (“Westpac”) today provides the attached Third
Quarter 2026 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.

3Q26INVESTOR
DISCUSSIONPACK
WESTPAC
FOR THE3 MONTHSENDED
30 JUNE2026
Thisdocumentshouldbereadin conjunction
withWestpac’sJune2026 Pillar3 Report. All
amountsare in Australiandollars.
Charts may not add due to rounding.
WESTPAC BANKING CORPORATION ABN 33 007 457 141

29
26
3Q231Q243Q241Q253Q251Q263Q26
2
Applications have moderatedHousing credit growth forecasts (%)
2
Consumer spend has slowed marginally (%)
3
Industry income to expense ratios (% change)
6
Westpac 3Q26 Investor Discussion Pack
CURRENT OPERATING ENVIRONMENT
OPERATING ENVIRONMENT
1 Average from the 15
th
of May to 31
st
of July. 2 Source: Westpac Economics, Australian housing forecasts. 3 Source: Westpac Card Tracker. 4 Growth in spend 20 weeks to 28-Feb-26 compared to 20 weeks to 1-Mar-
25. 5 20 weeks to 18-Jul-26 compared to 20 weeks to 19-Jul-25. 6 Source: Westpac DataX, calendar year 2Q26 compared to 2Q25.
FY26FY27FY28
Total6.8%4.7%5.2%
Owner occupier5.7%4.8%5.6%
Investor9.1%4.5%4.4%
6.4
(0.3)
7.1
5.9
13.6
5.5
DiscretionaryFuelNon-discretionary
(ex-fuel)
Pre-conflictLatest
Average monthly mortgage application volumes (,000s)
(2)
1
2
(2)
3
6
AgricultureConstructionHospitalityManufacturingTransportWholesale
Trade
INDUSTRY AVERAGE FLAT
54
 11%
 20%
Post
budget
run rate
1

Net interest margin
2
Gross loansDeposits
Westpac 3Q26 Investor Discussion Pack
FINANCIAL PERFORMANCE
FINANCIAL PERFORMANCE
1 Net profit ex Notable Items is used for internal management reporting as it better reflects underlying performance and is not defined by nor audited or reviewed in accordance with Australian Accounting Standards
(AAS). Statutory equivalent measures are provided on page 14 and for definitions refer to page 92-93 of the 2026 Interim Financial Results Announcement. 2 Excluding Notable Items.
Net profit excluding Notable Items
1
Excluding Notable Items
$1.8bn
Net profit excluding
Notable Items
1
$1.8bn
Unaudited statutory net profit
$bn3Q26
% movement
3Q26 - 1H26 qtr
average
Net profit excluding Notable Items1.82%
Net operating income5.71%
Operating expenses(2.9)1%
Pre-provision profit2.81%
Impairment charges/(benefits) to average loans10 bps-
3
Composition of NIM (%)

1Q262Q263Q26
Core NIM1.791.771.78
Treasury & Markets0.150.070.11
NIM1.941.841.89
AIEA ($bn)1,0291,0421,056
846
890
908
Jun-25Mar-26Jun-26
707
745
759
Jun-25Mar-26Jun-26
Up 7 %
Up 7%
Up $17bnUp $14bn

12.42
38
13
112.06
(57)
(31)
Mar-263Q26
Net profit
1H26
dividend
RWAIRRBBOtherJun-26
Key capital ratios (%)Mar-25Jun-25Mar-26Jun-26
Level 2 CET1
capital ratio
12.212.312.412.1
Additional Tier 1
capital ratio
2.32.31.91.8
Tier 1 capital ratio14.514.614.313.9
Tier 2 capital ratio7.17.37.26.9
Total regulatory
capital ratio
21.621.921.520.8
Risk weighted assets
(RWA)

($bn)
449445458465
Leverage ratio 5.25.15.04.9
Level 1 CET1 capital ratio12.512.312.812.3
Level 2 CET1 capital ratio movements (%, bps)
CET1 CAPITAL RATIO 12.1%
CAPITAL
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.
1
Lending: (12bps)
Capital floor: (11bps)
Credit quality & other: (8bps)
Westpac 3Q26 Investor Discussion Pack4
•RAMS sale 23bps
•Share buyback
2
(22bps)
•Announced RBNZ and proposed APRA changes will reduce
standardised RWA
Considerations post 30 Jun 26

458.3
1.6
4.7
1.5
0.0
0.3
4.3464.5
(0.6)
(0.7)
(4.8)
Mar-26Credit qualityLendingCounter-
party credit
and MTM
risk
Data
refinement
FX
translation
IRRBBOperational
risk
Market
risk
Capital floor
adjustment
Jun-26
RISK WEIGHTED ASSETS
5
RWA ($bn)
Westpac 3Q26 Investor Discussion Pack
CAPITAL
1 Includes other assets, securitisation exposures in the banking book and settlement risk. 2 Mark to market.
Up $6.2bn or 1.3%
1
Credit RWA up $6.4bn or 1.8%
2

Forecasts for
base case ECL
2
Base caseDownside
20262027
Trough /
peak
3
GDP growth0.7%1.5%(6%)
Unemployment5.0%4.9%11%
Residential property prices(1.0%)3.0%(27%)
Commercial property prices3.6%4.6%(32%)
Key ratios
Total provisions for expected credit losses
1
($m)
PROVISIONS FOR EXPECTED CREDIT LOSS
CREDIT QUALITY
1 Includes provisions for debt securities. 2 Forecast date is 25 June 2026. 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.
Jun-25Mar-26Jun-26
Provisions to gross loans (bps)605858
Impaired asset provisions
to impaired assets (%)
424241
Collectively assessed provisions
to credit RWA (bps)
125129127
Westpac 3Q26 Investor Discussion Pack
Forecasts used in economic scenarios
6
607
539
610
670
1,201
1,190
1,142
1,137
2,232
2,087
2,115
2,052
903
933
1,050
1,095
129
238
282
344
5,072
4,987
5,199
5,298
Jun-25Sep-25Mar-26Jun-26
Stage 3 IAP Stage 3 CAP Stage 2 CAP Stage 1 CAPOverlay
$2.0bn above base case

0.16
0.150.15
0.16
0.33
0.32
0.29
0.29
0.30
0.30
0.28
0.28
0.54
0.51
0.44
0.46
1.33
1.28
1.16
1.19
Jun-25Sep-25Mar-26Jun-26
ImpairedNon-performing, 90+ days
Non-performing, <90 daysWatchlist & substandard
Australian mortgage delinquencies
1
(%)
Australian consumer finance 90+ delinquencies (%)
Stressed exposures as a % of TCE
CREDIT QUALITY METRICS
CREDIT QUALITY
1 Excluding RAMS. 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. Prior
periods have been restated to exclude RAMS.
Westpac 3Q26 Investor Discussion Pack
Australian mortgage hardship
1,2
balances (%)
7
0.58
2.22
0.0
1.0
2.0
3.0
4.0
5.0
Jun-24Dec-24Jun-25Dec-25Jun-26
Credit cardsPersonal loans
0.58
1.14
0.0
1.0
2.0
3.0
Jun-24Dec-24Jun-25Dec-25Jun-26
90+ day delinquencies30+ day delinquencies
0.55
0.00
0.50
1.00
1.50
2.00
2.50
Jun-24Dec-24Jun-25Dec-25Jun-26
Portfolio write-offs

0.0
1.0
2.0
3.0
4.0
5.0
6.0
PropertyWholesale
&
retail trade
Property &
business
services
UtilitiesServicesAgriculture,
forestry &
fishing
ManufacturingTransport
&
storage
Accommodation
cafes &
restaurants
ConstructionMining
Jun-25Mar-26Jun-26
Corporate and business stressed exposures by industry sector (%)
Exposure and credit quality by sector
Sector
Finance &
insurance
1
Property
2
Wholesale
& retail
trade
Property &
business
servicesUtilities
Services
3
Agriculture,
forestry &
fishing
Manufacturing
Transport &
storage
Accomm,
cafes &
restaurantsConstruction
4
Mining
TCE ($bn)
Jun-26170.6101.6
36.3
32.931.131.030.5
27.6
26.215.515.39.4
Mar-26168.298.1
35.0
32.330.230.129.427.026.315.015.39.4
Stressed (%)
5,6
Jun-260.11.8
4.2
2.71.02.63.6
3.6
2.83.34.50.8
Mar-260.11.8
4.3
2.70.62.93.5
3.5
2.43.94.71.2
Impaired (%)
6
Jun-260.00.1
0.5
0.60.20.70.3
0.5
0.70.30.80.2
Mar-260.00.1
0.5
0.50.20.70.2
0.5
0.70.20.70.2
CREDIT QUALITY ACROSS SECTORS
CREDIT QUALITY
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.
Westpac 3Q26 Investor Discussion Pack8

25
20
37
11
7
0.4
67
14
11
6
1
0.3
0.3
0
20
40
60
80
100
0<=6060<=7070<=8080<=9090<=9595<=100>100
At originationDynamic
AUSTRALIAN MORTGAGE PORTFOLIO COMPOSITION
1
CREDIT QUALITY
1 All data excludes RAMS (prior periods have been restated to exclude RAMS). The RAMS portfolio was $16.3bn (3% of the total portfolio, including RAMS) at 30 June 2026. 2 3Q26 flow is new mortgages settled in the 3 months end 30 June 2026.
3 Average loan size includes amortisation. Calculated at account level, where split loans represent more than one account. 4 Dynamic loan-to-value ratio is the loan-to-value ratio taking into account the current loan balance, changes in security
value, offset account balances and other loan adjustments. Property valuation source Cotality.
9Westpac 3Q26 Investor Discussion Pack
By product and repayment type (%)
Loan-to -value ratios (%)
4
N/A
1
10
21
2
66
1
10
22
2
65
1
11
22
2
65
LOCIPL-I/OIPL-P&IOO-I/OOO-P&I
Jun-25 (Portfolio)Mar-26 (Portfolio)Jun-26 (Portfolio)
Australian mortgage portfolio
Jun-25
balance
Mar-26
balance
Jun-26
balance
3Q26
flow
2
Total portfolio ($bn)
1
491.4517.7529.133.3
Owner occupied (OO) (%)
67.966.966.761.0
Investment property loans (IPL) (%)
31.232.432.639.0
Variable rate / Fixed rate (%)
97/396/495/593/7
Interest only (I/O) (%)
12.112.713.021.9
Proprietary channel (%)
43.441.941.736.1
First home buyer (%)
12.312.412.413.3
Mortgage insured (%)
9.07.36.82.0
Average loan size
3
($’000)
335355361553
Jun-25Mar-26Jun-26
Customers ahead on repayments
including offset account balances

(%)
By accounts
858686
By balances
848585

20.6
18.0
19.0
20.0
21.0
22.0
Sep-23Mar-24Sep-24Mar-25Sep-25Mar-26
10
Customers ahead on repayments
2
(% by balances)
Offset account balances ($bn)Buffer to balance ratio
3
(%)
Westpac 3Q26 Investor Discussion Pack
AUSTRALIAN MORTGAGE PORTFOLIO REPAYMENT BUFFERS
1
CREDIT QUALITY
1 All data excludes RAMS (prior periods have been restated to exclude RAMS). 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. 3 Excludes Line of Credit.
11
1
5
15
32
Jun-26
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
Loans ‘on time’
and <1mth ahead
Buffer = Current Limit - Outstanding Balance + Offset Balance
1
15
18
22
18
26
1
14
17
21
19
28
1
14
18
21
19
27
BehindOn time< 1mth< 6mths>2yrs
Jun-25Mar-26Jun-26
>6mths
to <2yrs
67
67
72
76
77
76
Mar-25Jun-25Sep-25Dec-25Mar-26Jun-26

45.6%
19.3%
24.2%
7.8%
3.1%
<=60>60 to 70>70 to 80>80 to 90>90
Mortgage delinquencies (%)Mortgage portfolio LVR
2
(% of portfolio)
Business stressed exposures to business TCE
1
(%)Unsecured Consumer delinquencies (%)
NEW ZEALAND CREDIT QUALITY
CREDIT QUALITY
1 Chart may not add due to rounding. 2 LVR based on current exposure and property valuation at the latest credit event.
89.1% of mortgage portfolio has
an LVR of 80% or less
Westpac 3Q26 Investor Discussion Pack11
0.48
0.88
0.0
0.5
1.0
1.5
2.0
Jun-24Dec-24Jun-25Dec-25Jun-26
90+ day delinquencies30+ day delinquencies
0.83
1.82
0.0
1.5
3.0
4.5
6.0
Jun-24Dec-24Jun-25Dec-25Jun-26
90+ day delinquencies30+day delinquencies
0.2 0.2
0.1
0.2
0.2 0.2
0.2
0.2
2.1
1.7
1.7
1.8
2.5
2.2
2.0
2.1
Jun-25Sep-25Mar-26Jun-26
ImpairedNon-performing, not impairedWatchlist & substandard

42
28
38
8
31
34
32
22
23
32
FY24FY25FY26
YTD
FY26FY27FY28FY29FY30FY31>FY31
Tier 2 Capital
Additional Tier 1 capital
Covered
Senior/Securitisation
8
5
33
54
Tier 2 Capital
Securitisation
Covered
Senior Bonds
Term debt issuance and maturity profile
1,2
($bn)
FUNDING AND LIQUIDITY
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. Additional
Tier 1 and callable Tier 2 instruments are profiled to the first 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. Data excludes Funding for Lending Programme (NZ). 2 Year to date is 1 October 2025 to 15 July 2026.
Key funding and liquidity measures
Liquidity coverage ratio (LCR) (%)
Quarterly average
Net stable funding ratio (NSFR) (%)Customer deposits to net loans ratio (D2L) (%)
•Quarterly LCR movement reflects lower average net
cash outflows
•Slightly lower D2L ratio reflects stronger loan
growth compared to customer deposit growth in
the quarter
•Movement in the NSFR reflects an increase in
required stable funding due to growth in lending
Term debt issuance by program
2
(%)
12Westpac 3Q26 Investor Discussion Pack
134
137
132
134
Jun-25Sep-25Mar-26Jun-26
114
113
112
111
Jun-25Sep-25Mar-26Jun-26
84.0
84.9
84.2
84.1
Jun-25Sep-25Mar-26Jun-26
FUNDING AND LIQUIDITY
IssuanceMaturities
remaining
$38bn
YTD

1 Excludes Notable Items.
APPENDIX 1: NET PROFIT
APPENDIX
$bn1Q262Q261H26 qtr average3Q26
% movement
3Q26 – 1H26 qtr
average
Net interest income5.04.74.95.02%
Non-interest income0.70.80.80.7(3%)
Net operating income5.85.55.65.71%
Operating expenses(3.0)(2.9)(2.9)(2.9)1%
Pre-provision profit2.82.62.72.81%
Impairment charges(0.1)(0.3)(0.2)(0.2)1%
Tax and NCI(0.8)(0.7)(0.8)(0.8)1%
Net profit excluding Notable Items1.91.61.71.82%
Notable Items (post tax)-(0.1)---
Statutory net profit1.91.51.71.83%
ROE
1
10.3%9.3%9.8%10.1%33 bps
ROTE
1
11.6%10.4%11.0%11.4%40 bps
NIM
1
1.94%1.84%1.89%1.89%-
Westpac 3Q26 Investor Discussion Pack13

APPENDIX 2: STATUTORY NET PROFIT
APPENDIX
$b1Q262Q261H26 qtr average3Q26
% movement
3Q26 – 1H26 qtr
average
Net interest income5.04.74.95.02%
Non-interest income0.80.80.80.7(3%)
Net operating income5.85.55.65.71%
Operating expenses(3.0)(3.0)(3.0)(2.9)(1%)
Pre-provision profit2.82.52.72.83%
Impairment charges(0.1)(0.3)(0.2)(0.2)1%
Tax and NCI(0.8)(0.7)(0.7)(0.8)17%
Statutory net profit1.91.51.71.83%
ROE10.4%8.8%9.6%10.0%47 bps
ROTE11.7%9.9%10.8%11.3%56 bps
Westpac 3Q26 Investor Discussion Pack14

AIEAAverage interest earning assets
CAPCollectively assessed provisions
CET1 capital ratioCommon equity tier one capital ratio
LCRLiquidity coverage ratio
NIMNet interest margin
NSFR Net stable funding ratio
ROEReturn on average equity
ROTEReturn on average tangible equity
RWARisk weighted assets
TCETotal committed exposures
APPENDIX 3: ABBREVIATIONS
Westpac 3Q26 Investor Discussion Pack
APPENDIX
15

CONTACT US
INVESTOR RELATIONS TEAM – 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.mpms.mufg.com
au.investorcentre.mpms.mufg.com
+61 2 9178 2977
investorrelations@westpac.com.au
westpac.com.au/investorcentre
Westpac 3Q26 Investor Discussion Pack
Lucy Wilson
Head of Corporate Reporting and ESG
Catherine Garcia
Head of Investor Relations, Institutional
Arthur Petratos
Manager, Shareholder Services
Bianca Julian
Graduate, Investor Relations
Shannon Thompson
Director Debt Investor Relations
Justin McCarthy
General Manager, Investor Relations
James Wibberley
Senior manager, Investor Relations
Nathan Fontyne
Senior Analyst, Investor Relations
16

DISCLAIMER
Westpac 3Q26 Investor Discussion Pack
17
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”.
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’, ‘pursue’ 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 First Half 2026 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 First Half 2026
Risk Factors.
DISCLAIMER