WEBNF 6-K
Westpac Banking Corp (WEBNF)
6-K
2025-11-03
For: 2025-11-03
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July 04, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
November 3, 2025
Commission File Number 1-10167
WESTPAC BANKING CORPORATION
(Translation of registrant’s name into English)
275 KENT STREET, SYDNEY, NEW SOUTH WALES 2000, AUSTRALIA
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Index to Exhibits
| ExhibitNo. | Description |
|---|---|
| 1 | ASX Release – Westpac 2025 Presentation and Investor Discussion Pack |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| WESTPAC BANKING CORPORATION | ||
|---|---|---|
| (Registrant) | ||
| Date: November 3, 2025 | By: | /s/ Esther Choi |
| Esther Choi | ||
| Tier One Attorney |
Exhibit 1
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ASX RELEASE<br>Westpac Banking Corporation<br>Level 18, 275 Kent Street<br>Sydney, NSW, 2000<br>3 November 2025<br>Westpac 2025 Presentation and Investor Discussion Pack<br>Westpac Banking Corporation (“Westpac”) today provides the attached Westpac 2025<br>Presentation and Investor Discussion Pack.<br>For further information:<br>Hayden Cooper Justin McCarthy<br>Group Head of Media Relations General Manager, Investor Relations<br>0402 393 619 0422 800 321<br>This document has been authorised for release by Tim Hartin, Company Secretary. |
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PRESENTATION<br>ANDINVESTOR<br>DISCUSSIONPACK<br>WESTPAC<br>2025 FULL YEAR FINANCIAL RESULTS<br>FOR THE 12 MONTHS ENDED 30 SEPTEMBER 2025<br>1 |
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2 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>WESTPAC<br>2025 FULL YEAR<br>RESULTS INDEX<br>2025 Full Year Results Presentation 3<br>Investor Discussion Pack 36<br>Earnings drivers 39<br>UNITE 50<br>Credit quality and provisions 53<br>Capital, funding and liquidity 76<br>Supporting our customers 88<br>Segment results 99<br>Sustainability 106<br>Economics 112<br>Appendix 118<br>Contact us 124<br>Disclaimer 125<br>Westpac Banking Corporation ABN 33 007 457 141 |
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ANTHONY MILLER<br>Chief Executive Officer |
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OPERATING<br>MOMENTUM<br>EXECUTION<br>FOCUS<br>FINANCIAL<br>STRENGTH |
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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),<br>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,<br>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<br>Sustainability Index and Datasheet for information.<br>SUPPORTING COMMUNITIES<br>$199m<br>in community<br>investment1<br>100<br>scholarships awarded<br>each year2<br>65,538<br>hours volunteered<br>by employees<br> >500<br>charities supported<br>via employee donations<br>FINANCIAL LITERACY<br>programs in Australia,<br>New Zealand and the Pacific<br>$56.1m<br>spent with<br>diverse suppliers3<br>~$350m<br>cost to support<br>cash services<br>$11m<br>contributed by the<br>Westpac and Regional<br>Foundations2<br>$3.5bn<br>income tax expense<br>and bank levy<br>5 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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FY25 FINANCIAL PERFORMANCE<br>6 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>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<br>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<br>measures’ section in the 2025 Annual Report.<br>$7.0bn<br>Net profit<br>ex Notable Items1<br>2% to FY24<br>84.9%<br>Deposit to<br>loan ratio<br>137bps to FY24<br>7%<br>Deposit<br>growth<br>to $723bn<br>153<br>FY25 ordinary<br>dividends<br>1% to FY24<br>11.0%<br>ROTE<br>ex Notable Items1<br>24bps to FY24<br>53.0%<br>Cost to income ratio<br>ex Notable Items1<br>3ppts to FY24<br>6%<br>Loan<br>growth<br>to $856bn<br>12.5%<br>CET1<br>capital ratio<br>4bps to FY24 |
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7 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>MEASURING PROGRESS<br>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.<br>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,<br>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.<br>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<br>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<br>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.<br>SERVICE<br>EXCELLENCE<br>ONE<br>BEST WAY<br>PERFORM<br>Metric Sep-25 Sep-29 Target<br>Consumer: NPS1 =#2 #1<br>Business: NPS1 #3 #1<br>Institutional: RSI2 =#3 #1<br>Complete UNITE on time In progress Complete<br>Complete UNITE on budget $807m3 ~40%<br>of total investment<br>over FY25 to 1H29<br>Employee engagement 80<br>(top quartile) Top decile<br>Cost to income ratio<br>relative to peers4 3.7ppts above5 Less than<br>peer average<br>Return on tangible equity relative to peers4 1.5ppts below5 Greater than<br>peer average |
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STRATEGIC PRIORITIES<br>8 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>PERFORMANCE<br>Improve ROTE and cost to<br>income relative to peers<br>Improve market position<br>CUSTOMER<br>Whole of bank to<br>customer approach<br>Improve customer<br>experience<br>PEOPLE<br>Attract, retain and invest<br>Externally focused,<br>accountable and<br>empowered<br>TRANSFORMATION<br>UNITE<br>Innovate to improve<br>customer outcomes and<br>efficiency<br>RISK<br>Sustain and strengthen<br>risk culture<br>Managing risk as a<br>differentiator |
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IMPROVING CUSTOMER SERVICE<br>9 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>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<br>Apps, Q3 2025, Q3 2024 and Q3 2023.<br> <5 DAYS<br>Mortgage TTD1<br> <5 MINS<br>Business transaction<br>account set up<br>In time to<br>trade2<br>30%<br>#1 MOBILE APP3<br>Forrester #1 Banking App in Australia<br>2023, 2024 and 2025<br>NEW<br>Regional banking<br>service centres<br>To support female entrepreneurs<br>$1BN<br>$360M<br>In potential customer<br>losses prevented<br>SAFECALL<br>Rolled out to<br>1m customers<br>Launched<br>SAFEBLOCK |
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in Business, c.40% onboarded<br>in WIB, c.60% onboarded<br>in Consumer, c.40% onboarded<br>INVESTING IN OUR PEOPLE<br>10 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>ATTRACTING AND RETAINING TALENT VALUE PROPOSITION<br> • New leadership program including dedicated female<br>advancement programs<br> • Business Performance Academy relaunched –<br>35k hours in professional development completed<br> • Expanded employee banking, health and leave benefits<br>Investing in front line bankers Organisational Health Index<br>1 Australian HR Awards. 2 Senior Leadership includes Executive Team, General Managers and their direct reports (excluding administrative or support roles). 3 Excludes involuntary.<br>75<br>80 80<br>FY23 FY24 FY25<br> • Refreshed Executive leadership team<br> • ‘Employer of Choice’ award for large organisations1<br> • 49% women in leadership2<br> • 92%3 employee retention<br>~80<br>~180<br>~350 |
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STRONG DEPOSIT GROWTH<br>11 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>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.<br>8.3<br>(10.2) (10.9)<br>(0.3)<br>Westpac Peer 1 Peer 2 Peer 3<br> • Transaction account growth 6%1<br> • Ability to apply for a transaction<br>account before arriving in Australia<br> • Transaction account growth 13%1<br> • OnlinePay launched in Apr-25 –<br>1,000 businesses onboarded<br> • Public sector deposit growth 11%1,2<br> • Strong growth in corporate deposits<br>119<br>-45<br>18<br>-171<br>Westpac Peer 1 Peer 2 Peer 3<br>30<br>4<br>23 23<br>Westpac Peer 1 Peer 2 Peer 3<br>$366bn $152bn $131bn<br>CONSUMER DEPOSITS BUSINESS DEPOSITS3 INSTITUTIONAL DEPOSITS<br>up 10%1 up 6%1 up 10%1<br>Household growth2 ($bn) FY25 change in Business MFI4 (bps) Public sector market share2 (%) |
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22%<br>24%<br>17%<br>BUSINESS & INSTITUTIONAL LENDING MOMENTUM<br>12 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>1 Business & Wealth segment. 2 Compared to Sep-24. 3 IJ Global league table database, Australia, 12 months to 30 September 2025.<br>$115bn<br> • 69% of new lending with existing customers<br> • Investing to grow proprietary lending<br> • Stressed exposures to TCE down 43bps to 4.81%<br>$118bn<br>19%<br>19%<br>31%<br>30%<br>2%<br>Consumer & Industrials<br>Energy, Infrastructure &<br>Resources<br>Financial Institutions &<br>Government<br>Real Estate & Health<br> • 78% of new lending with existing customers<br> • #1 in renewable energy financing3<br> • Stressed exposures to TCE down 6bps to 0.70%<br>Agriculture<br>Health<br>Professional<br>services<br>up 15%2 up 17%2<br>Charts may not add due to rounding<br>BUSINESS LENDING1 INSTITUTIONAL LENDING<br>Growth in target sectors Diversified portfolio |
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Improved service across all channels<br>MORTGAGES: BALANCING GROWTH AND RETURN<br>13 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Targeted growth<br> • Targeting higher returning segments and channels<br> – Investor lending flow up c.4ppts<br> – <80% LVR lending flow up c.3ppts<br> • Continuing to improve service and efficiency<br> – Unit costs down<br> – RWA optimised<br>5.6 5.2 4.6<br>9.7<br>5.8 5.0<br>FY23 FY24 FY25<br>$450bn $473bn $497bn<br>0.9x 1.2x 0.8x<br>FY23 FY24 FY25<br>IMPROVING PROPRIETARY PERFORMANCE<br> • Investing in an additional 180 Home Finance Managers<br> • Reward and recognition revised<br> • ‘Book a Banker’ launching in early 2026<br> • Optimising lead quality<br> • Brand investment driving higher consideration<br>This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.<br>1 Westpac ex. RAMS. 2 Sep-24. 3 12-month median (50th percentile) time to unconditional approval.<br>Proprietary Third party<br>Balance System multiple2<br>Time to Decision by channel (days)3<br>Mortgages1<br>UP 5% |
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UNITE: ONE BEST WAY<br>14 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.<br>1 Total investment expected to be c.$2bn p.a.<br> • Scope set<br> • Single deposit ledger decision impacts incorporated<br> • Downstream impacts and interdependencies scoped<br> • Plan extends into FY29<br>PROGRAM<br>DISCOVERY<br>COMPLETE<br> • Expect to invest $850 - $950 million in FY26<br> • c.40% of total investment spend1 FY27 – FY28<br> • Lower spend in FY29<br> • c.75% of spend to be expensed<br>INVESTMENT<br>SPEND<br> • Centralised UNITE delivery team c.1,600 people<br> – Common skillsets and capability<br> – Clearer accountabilities<br> • Initiatives amalgamated into 10 work packages<br> • Program structure and delivery approach designed to<br> – Manage challenges as they arise<br> – Optimise cadence and capacity<br>PROGRAM IN<br>EXECUTION<br>BOARD<br>Active Director engagement through<br>Directors oversight working group<br>and regular Board reporting at every<br>meeting<br>EXECUTIVE LEADERSHIP<br>Weekly CEO meeting – risk and<br>performance tracking to committed<br>outcomes<br>PROGRAM LEADERSHIP<br>A team of functional experts focused<br>on initiative delivery with external<br>partners providing technical advice to<br>support the program and Board<br>DELIVERY<br>Business accountable for outcomes<br>GOVERNANCE |
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UNITE: ONE BEST WAY<br>15 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>FY25 achievements Program status<br> • $660m invested in FY25, 76% expensed<br> • 8 initiatives complete<br> • 51 initiatives underway, initiative status1:<br> – 13 scope confirmed<br> – 20 Green<br> – 13 Amber<br> – 5 Red<br>Percentage complete by project stage<br>This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.<br>1 Status rating changes with the identification and resolution of issues.<br>DISCOVERY SIMPLIFY<br>17%<br>of<br>initiatives<br>15%<br>of<br>initiatives<br>IMPLEMENT DECOMMISSION<br>8%<br>of<br>apps<br><br>Program<br>scope<br> • One chat platform – Consolidated 2 platforms to 1<br> • Extended functionality for multiple offset accounts<br> • 6,000 additional bankers migrated onto Digital Banker<br> • Transitioned customers to a single Private Bank<br> • One Trade Finance system for Institutional clients |
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16 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Expected outcomes1 Achievements to date<br>BIZEDGE: FAST, SIMPLE, DIGITAL<br>LENDING ORIGINATION<br>1 These expected outcomes contain ‘forward-looking statements’ and are subject to assumptions, risks and other important information in the<br>Disclaimer on page 125. 2 Time to decision. 3 Company and Personal Property Securities Register (PPSR) searches.<br>Reduce banker loan<br>processing time by<br>~50%<br>Reduce TTD2 by<br>~60%<br>Decommission Legacy<br>systems and tools<br>27+ BANKER BENEFITS<br> • Guided processes<br> • Automated searches3<br> • Streamlined document management<br>CUSTOMER BENEFITS<br> • Digital experience<br> • Reduces customer input by 50%<br> • Real time application tracking<br>2<br>releases<br> >5k<br>applications<br>$4.8bn<br>New lending<br> >1hr<br>banker time saved<br>per application<br>~45%<br>TTD2 reduced<br>5<br>systems and tools<br>removed<br>Total Investment<br>FY24 to FY29<br>c.$300m |
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WESTPAC ONE - NEXT GENERATION BANKING CAPABILITY<br>17 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Expected outcomes1<br>FY25 achievements Westpac One platform launch Dec-25<br>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<br>eSignatures. 3 Domestic payment scheme.<br>Leading<br>transaction<br>banking capability<br>Enhanced<br>digital<br>experience<br>Revenue<br>growth<br>Operational<br>risk<br>reduced<br>INVESTMENT COST<br>c.$400m<br>PROGRESSIVE THREE<br>YEAR ROLLOUT<br> • Integrated accounts, payments and FX risk<br>management to be rolled out to FX customers<br> • Real time Treasury management pilot with small<br>number of pilot clients<br>REAL-TIME<br>DEPOSIT<br>LEDGER LIVE<br>CONNECTED TO<br>THE NPP3<br>PROJECT ON TIME AND ON BUDGET Treasury FX<br>WESTPAC ONE PLATFORM<br>NEW DIGITAL<br>EXPERIENCE2 |
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18 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>AI is delivering<br> • Leveraging data from 251 systems in one place<br>to deliver smarter decisions<br> • 5x faster to deploy models so we can better<br>anticipate customers’ needs<br> • Conversational intelligence supporting bankers<br>to deliver excellence in customer service<br>Westpac Intelligence Layer<br>AI: ENABLING DEEPER CUSTOMER<br>RELATIONSHIPS<br>JESS AI ASSISTANT<br>Helps spot scams in real time<br>Assisted >20k calls<br>MORTGAGE AI ASSESSOR<br>Faster lending decisions<br>Supporting 700 assessors<br>GEN AI TOOLS<br>Transforming how we work<br>Used by >15,000 employees<br>AI SHARK TANK<br>1,200 ideas to improve customer experience,<br>productivity & knowledge management<br>DELIVERING A<br>SMARTER, SAFER AND<br>MORE PRODUCTIVE<br>BANK WITH AI |
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NATHAN GOONAN<br>Chief Financial Officer |
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FY25 FINANCIAL PERFORMANCE<br>20 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>FY24 FY25 Change<br>Net profit $6,990m $6,916m (1%)<br>Notable Items ($123m) ($56m) (54%)<br>Excluding Notable Items:<br>Net profit $7,113m $6,972m (2%)<br>Earnings Per Share 204c 204c Flat<br>Revenue $21.8bn $22.5bn 3%<br>Expenses ($10.9bn) ($11.9bn) 9%<br>Expenses excluding restructuring charge ($10.9bn) ($11.6bn) 6%<br>Pre-provision profit $10.8bn $10.5bn (3%)<br>Impairment charges to average loans annualised 7 bps 5 bps (2 bps) |
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1H25 – 2H25 NET PROFIT EXCLUDING NOTABLE ITEMS ($M)<br>21 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>1 Excludes the restructuring charge. 2 Non-controlling interests.<br>3,607<br>3,457<br>335<br>143<br>76 3,515<br>(247)<br>(273)<br>24<br>2H24 1H25 Net interest<br>income<br>Non-interest<br>income<br>Expenses Restructuring<br>charge<br>Impairment<br>charges<br>Tax<br> & NCI<br>2H25<br>Pre-provision profit 1% lower,<br>4% higher ex restructuring charge<br>2% HIGHER, 7% HIGHER EX RESTRUCTURING CHARGE<br>4% LOWER<br>2<br>1 |
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DEPOSIT GROWTH ($BN)<br>22 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Chart may not add due to rounding.<br>1 Includes Treasury.<br>673.6<br>696.8<br>15.3 4.0<br>9.2 723.0 (2.4)<br>Sep-24 Mar-25 Consumer Business<br> & Wealth<br>Institutional New Zealand<br>(in A$)<br>Sep-25<br>UP 3%<br>UP 4%<br>Up $0.1bn<br>in NZ$<br>1 |
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GROSS LOANS ($BN)<br>23 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Chart may not add due to rounding.<br>1 Australian, excluding RAMS.<br>811.3<br>829.4<br>12.4 8.5<br>10.6 856.4 (0.5) (0.3) (4.0)<br>Sep-24 Mar-25 Mortgages Business Institutional New<br>Zealand<br>(in A$)<br>Personal RAMS Sep-25<br>Up $3.0bn<br>in NZ$<br>UP 2%<br>UP 3%<br>1 |
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NET INTEREST MARGIN (%)<br>24 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.<br>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.<br>2 Based on 30-Sep-25 balances. 3 Based on 30-Sep-25 rates and balances.<br>1.83 1.80 1.82<br>0.13 0.12 0.13<br>1.96 1.92 - - 3bps (1bps) - 1bps 1.95<br>2H24 1H25 Loans Deposits Liquid<br>assets<br>Capital<br> & Other<br>Wholesale<br>funding<br>Treasury<br> & Markets<br>2H25<br>Core NIM up 2bps<br>NZ mortgages 1bp<br>Auto finance (1bp)<br>Mortgages & Business <(1bp)<br>Consumer savings reprice 3bps<br>Replicating portfolio 2bps<br>RBA rate changes (2bps)<br>Spread & mix (3bps)<br>Replicating portfolio 1bp<br>Non hedged capital & other (2bps)<br> • 25bps RBA rate cut on unhedged low rate deposits<br>and capital: ~1bp2 annualised<br> • 5bps move in 3mth Bills/OIS: ~1bp3 annualised<br>Core NIM Treasury & Markets<br> • Hedged deposits up $3bn in Sep-25 and $7bn in Oct-25<br> • Net replicating portfolio benefit ~1bps1<br>Key considerations 1H26 Sensitivities |
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NON-INTEREST INCOME<br>25 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Non-interest income by type ($m)<br>830 845 887<br>223 234 242<br>329 345<br>438<br>1,382 1,424<br>1,567<br>2H24 1H25 2H25<br>Fees Wealth Trading and other<br>UP 3%<br>UP 10% |
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INVESTMENT SPEND<br>26 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Investment spend ($m)<br>This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.<br>Investment spend FY24 FY25<br>Total expensed 56% 60%<br>Capitalised software balance ($m) 2,675 2,414<br>Amortisation expense ($m) 889 995<br>1,059<br>695<br>550<br>563<br>147<br>660<br>1,756<br>1,918<br>FY24 FY25<br>Risk &<br>regulatory<br>Growth &<br>productivity UNITE<br>UNITE, growth & productivity up 75%<br>Risk & reg. down 34%<br> • Investment spend ~$2bn<br> • Increase in UNITE spend to $850m - $950m, ~75%<br>expensed<br> • Expect reductions in both growth & productivity and<br>risk & regulation spend<br> • Increase in amortisation expense to moderate<br>UP 9%<br>Key considerations for FY26 |
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10,944 397 146 199 359 273 11,916 (402)<br>FY24 Staff costs Technology Volume and other Productivity Investments Restructuring<br>charge<br>FY25<br>FY25 EXPENSES ($M)<br>27 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.<br>9% INCREASE<br>Simpler operating model<br>Reduced property footprint<br>Digitisation<br>UNITE investment $399m<br>Amortisation up $106m<br>Lower investment ex UNITE<br>6% increase ex restructuring<br> • EBA increase 3% to 4% and investment in bankers<br> • Increase in UNITE spend<br> • Fit for Growth benefits to contribute to targeted productivity of >$500m in FY26<br>Key considerations for FY26<br>Salary and EBA increases<br>Superannuation increase<br>Investment in bankers |
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CREDIT QUALITY<br>28 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Stressed exposures as a % of TCE<br>0.16 0.16 0.15<br>0.47 0.37 0.32<br>0.23 0.28 0.30<br>0.59 0.54 0.51<br>1.45 1.36 1.28<br>Sep-24 Mar-25 Sep-25<br>Australian mortgage delinquencies (%)<br>0.73<br>1.24<br>0.00<br>1.00<br>2.00<br>3.00<br>4.00<br>Sep-21 Sep-22 Sep-23 Sep-24 Sep-25<br>90+ day<br>delinquencies<br>30+ day<br>delinquencies<br>Corporate and business stressed exposures by industry sector (%)<br>Impaired Non-performing, 90+ days<br>Non-performing, <90 days Watchlist & substandard<br>% of non-retail TCE 19% 7% 6% 6% 6% 5% 3% 3%<br>0.0<br>2.0<br>4.0<br>6.0<br>Property Wholesale &<br>retail trade<br>Services Agriculture,<br>forestry & fishing<br>Manufacturing Transport<br> & storage<br>Construction Accommodation<br>cafes & restaurants<br>Sep-24 Mar-25 Sep-25 |
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CAP to credit RWA of 1.25%, down 1bps<br>CAP $12m lower, key movements<br> • Commercial property prices & interest rate outlook<br> • Reduction in mortgage delinquencies<br> • Overlays increased $108m<br> • 2.5ppt increase in downside scenario weight<br>IAP decreased $72m due to a single name write-off<br>Impairment charges remain low, 4bps of average loans<br>IMPAIRMENT PROVISIONS $1.9BN ABOVE BASE CASE ($M)<br>29 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>1 Forecast date: 18 September 2025.<br>Forecasts for<br>base case ECL1<br>Base case Downside<br>2025 2026 Trough / peak<br>GDP growth 1.9% 2.4% (6%)<br>Unemployment 4.4% 4.5% 11%<br>Residential property prices 5.6% 9.0% (27%)<br>Commercial property prices 0.9% 3.8% (32%)<br>536 611 539<br>1,223 1,198 1,190<br>2,390 2,256<br>2,087<br>768 877<br>933<br>179 130 238<br>5,096 5,072 4,987<br>Sep-24 Mar-25 Sep-25<br>Overlays<br>Stage 1 CAP<br>Stage 2 CAP<br>Stage 3 CAP<br>Stage 3 IAP |
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FUNDING AND LIQUIDITY<br>30 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Sources and uses of funds ($bn) LCR deposit mix (%)<br>Deposit to loan ratio (%)<br>82.9% 83.5% 84.9%<br>Sep-23 Sep-24 Sep-25<br>LCR and NSFR (%)<br>137<br>113<br>LCR<br>4Q25 Avg<br>NSFR<br>Sep-25<br>Regulatory<br>minimum 100%<br>35<br>35<br>14<br>16 Stable retail and SME deposits<br>Less stable retail and SME deposits<br>Operational deposits<br>Non-operational deposits<br>$555bn<br>49<br>28<br>4<br>(45)<br>(36)<br>Deposits Lending Long term<br>issuance<br>Short term<br>funding<br>Long term<br>maturities<br>4 (4) |
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12.24<br>80bps 16bps 12.53 (58bps) (7bps) (2bps)<br>Mar-25 Net profit 1H25<br>dividend<br>RWA Other Capital return Sep-25<br>STRONG CAPITAL<br>31 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>CET1 capital ratio %<br>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.<br>Lending (34bps)<br>Data refinement 16bps<br>Credit quality & other 6bps<br>IRRBB 5bps Share buyback: $0.1bn<br>1<br> • IRRBB standard changes 39bps<br> • Operational risk overlay removal 17bps<br>Adjustments post 30-Sep-25<br> • Share buyback2 (23bps)<br> • Standardised floor met<br>Other considerations |
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32 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>CAPITAL MANAGEMENT<br>1 Remaining on market share buyback previously announced in Nov-23, May-24 and Nov-24.<br>2 Annualised, based on final dividend and 30-Sep-25 closing price of $38.97.<br>Ordinary dividends per share (cents)<br>70 75 76<br>72 76 77<br>142 151 153<br>FY23 FY24 FY25<br>New target CET1<br>capital ratio<br> >11.25%<br>FY25 payout<br>ratio of<br>75%<br>Target payout<br>ratio range<br>65 -75%<br>Dividend yield<br>3.94%2<br>Fully franked<br>5.63%2<br>Neutralise<br>DRP<br>Capital above target<br>after 2H25 dividend<br>$3.1bn |
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ANTHONY MILLER<br>Chief Executive Officer |
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IMPROVING OPERATING ENVIRONMENT<br>34 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Consumer<br>Australian economics1 Business industry cashflow gauge<br>This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.<br>1 Source: Westpac DataX, Westpac Economics.<br>2025F 2026F<br>GDP 2.1% 2.4%<br>Housing credit 6.6% 6.5%<br>Business credit 9.0% 7.2%<br> • GDP recovering towards trend growth<br> • Real household disposable income on the rise<br> • Demand for credit robust<br> • Ongoing trade and geopolitical tension<br> • Uneven transition from public to private sector activity<br> • Productivity growth remains elusive<br>Westpac insights1<br>OPPORTUNITIES<br>RISKS 8.4%<br>GROWTH IN TOTAL<br>SAVINGS BALANCES<br>Sep-25, annual change<br>6.5%<br>GROWTH IN CARD<br>SPENDING<br>Quarterly, annual change<br>4.8<br>3.7 3.8<br>-0.8 -1.5 -2.6<br>Annual % change<br>Transport<br> & Storage Manuf. Business<br>Services Agri. Health Rec.<br>Services<br>Most improved<br>Least improved |
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EXECUTION FOCUS – RIGHT PORTFOLIO MIX<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>CONSUMER BUSINESS & WEALTH INSTITUTIONAL NEW ZEALAND<br>.<br>DELIVER TRANSFORMATION AGENDA, INCLUDING UNITE<br>35<br>This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.<br>33%<br>Contribution<br>to net profit<br>31%<br>Contribution<br>to net profit<br>23%<br>Contribution<br>to net profit<br>16%<br>Contribution<br>to net profit<br>Personalised,<br>digital-first experiences<br>Deepen customer<br>relationships<br>Grow proprietary<br>lending<br>Continue lending<br>momentum<br>Leverage transaction<br>banking capability<br>Expand banker presence,<br>training and expertise<br>Invest in expert<br>bankers<br>Deepen client<br>relationships<br>Rollout Westpac One<br>Improve position<br>and returns<br>Personalised,<br>digital-first experiences<br>Target growth in<br>business lending<br>35 |
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INVESTOR<br>DISCUSSION PACK |
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CREATING VALUE FOR OUR SHAREHOLDERS, CUSTOMERS,<br>OUR PEOPLE, COMMUNITY AND THE ENVIRONMENT IN FY25<br>37 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>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).<br>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<br>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<br>OVERVIEW<br>$6.9bn<br>Net Profit, down 1% on<br>FY24<br>13 million<br>Customers across<br>the Group<br>80<br>Organisational Health<br>Index in global top<br>quartile<br>65,538<br>Hours volunteered by<br>Westpac employees<br>89%<br>Reduction in scope<br>1 and 2 emissions from<br>our 2021 baseline5<br>#1<br>Mobile Banking App1<br>49%<br>Women in senior<br>leadership2<br>$3.5bn<br>Income tax expense,<br>including the bank levy<br>$5.2bn<br>To be returned to<br>shareholders via<br>dividends<br>+$45bn<br>Loans<br>35,236<br>Employees3<br>$56m<br>Spent with diverse<br>suppliers5<br>37%<br>Increase in sustainable<br>finance lending5<br>11.0%<br>Return on tangible equity<br>ex Notable Items, down<br>24 bps<br>+$49bn<br>Customer deposits<br>$6.3bn<br>Paid in salaries4<br>100<br>New scholarships<br>awarded in FY256<br>42%<br>Reduction in scope<br>3 upstream emissions<br>since 20215<br>40%<br>Increase in sustainable<br>bond facilitation5<br>SHAREHOLDERS CUSTOMERS OUR PEOPLE COMMUNITY ENVIRONMENT<br>$7.0bn<br>Net Profit ex Notable<br>Items, down 2% on FY24 |
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OUR PEOPLE – STRENGTHENING INCLUSION, DIVERSITY AND WELLBEING<br>38 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>PEOPLE<br>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<br>administrative or support roles). 3 Our Voice+ survey includes McKinsey's Organisational Health Index – benchmarking Westpac’s organisational health relative to global standards.<br> • Our Australian workforce identifying as<br>Aboriginal and/or Torres Strait Islander increased<br>to 1.15% at Sep-25 (Target: 1.5%)<br> • Our new RAP focuses on stronger leadership,<br>retention, and long-term career growth for<br>Indigenous employees. Our latest RAP is<br>available on our website<br>Organisational Health Index (OHI) score3<br>Chief Mental Health Officer overseeing<br>Group mental health strategy since 2018<br>Mental Health Workplace Factors Review<br>completed across Australian operations. Ongoing<br>and targeted psychosocial risk assessments<br>incorporated<br>10 Employee Advocacy Groups supporting<br>inclusion, diversity and wellbeing<br> • Supported 20 culturally diverse women with a<br>dedicated program to advance their leadership<br> • Launched a new e-learning in NZ to help our<br>people build cultural confidence and better<br>understand Māori and Iwi customers and<br>communities<br> • Cultural Diversity Shadowing program had<br>180+ participants in FY25<br> • Over 20 teams participated in training to improve<br>ability to speak-up against exclusionary<br>behaviours. Our Upstander Initiative<br> • Increased gender affirmation leave to 6 weeks;<br>introduced family pathways leave; doubled<br>Culture, Lifestyle & Wellbeing leave to 4 days<br>INDIGENOUS REPRESENTATION<br>Focus on reducing gender pay gap by improving<br>gender diversity at all levels. Focus on increasing<br>female representation in Technology, Finance,<br>Institutional and Business Bank<br>Targeted initiatives:<br> • Illuminate program to develop aspiring female<br>leaders. Every General Manager sponsors one<br>participant<br> • New StepUP program launched to support career<br>progression for women in mid-level roles. 220<br>participated in FY25<br> • New Career Sprints initiative – connecting women to<br>new areas in the bank, commenced with the<br>institutional bank<br>OTHER INITIATIVES SUPPORTING MENTAL HEALTH<br>ORGANISATIONAL HEALTH<br>Females % Sep-25 Target Progress<br>Westpac Board 36 40:40:201<br>Executive Team 50 40:40:201 ✓<br>General Managers 37 40 +/-2%<br>Senior Leadership2 49 50 +/-2% ✓<br>Westpac workforce 54 50 ✓<br>GENDER DIVERSITY<br>Median gender pay gap for total reward reduced by<br>1.2% to 28.1%.<br>74 75 75<br>80 80<br>Sep-21 Sep-22 Sep-23 Sep-24 Jun-25<br>A new employee engagement survey has replaced<br>OHI. Progress will be reported from FY26. |
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EARNINGS DRIVERS |
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7,113<br>557 144<br>113 17 6,972<br>(972)<br>FY24 Net<br>interest<br>income<br>Non<br>interest<br>income<br>Expenses Impairment<br>charges<br>Tax &<br>NCI<br>FY25<br>FY25 NET PROFIT<br>40 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Net profit FY24 – FY25 ($m)<br>1 Non-controlling interests.<br>EARNINGS<br>DOWN 2%<br>Higher card fees,<br>Institutional lending fees,<br>markets and net wealth<br>income<br>AIEA up 3% due to loan growth,<br>Core NIM down 1bp,<br>Treasury & Markets NIM flat<br>1<br>Higher UNITE costs, salaries and<br>wages and restructuring charge,<br>partly offset by productivity<br>initiatives |
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3,457<br>335<br>143<br>76 24 3,515<br>(520)<br>1H25 Net<br>interest<br>income<br>Non<br>interest<br>income<br>Expenses Impairment<br>charges<br>Tax &<br>NCI<br>2H25<br>2H25 NET PROFIT<br>41 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Net profit 1H25 – 2H25 ($m)<br>1 Non-controlling interests.<br>EARNINGS<br>UP 2%<br>Higher UNITE costs, salaries and<br>wages and restructuring charge,<br>partly offset by productivity<br>initiatives<br>Higher Markets income including<br>rates and foreign exchange, and<br>higher card fees<br>AIEA up 1% due to loan growth,<br>Core NIM up 2bps,<br>Treasury & Markets NIM up 1bp<br>1 |
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NET PROFIT EXCLUDING NOTABLE ITEMS AND NET PROFIT RECONCILIATION<br>42<br>Net profit excluding notable items policy Reported net profit and net profit excluding<br>notable item adjustments ($m)<br>EARNINGS<br>Notable Items<br>($m after tax) FY24 FY25 1H25 2H25<br>Asset sales and revaluations - - - -<br>Provisions for remediation, litigation, fines<br>and penalties - - - -<br>Restructuring costs - - - -<br>Asset write-downs - - - -<br>Hedging items (123) (56) (140) 84<br>Total Notable Items (123) (56) (140) 84<br>FY24 FY25 1H25 2H25<br>Statutory net profit 6,990 6,916 3,317 3,599<br>Hedging items (123) (56) (140) 84<br>Net profit excluding Notable Items 7,113 6,972 3,457 3,515<br>Earnings per ordinary share – ex Notables 204.4 203.6 100.8 102.8<br>Earnings per ordinary share – statutory 200.9 201.9 96.7 105.2<br> • Net profit excluding Notable Items is a non-AAS<br>financial performance measure used by Westpac for<br>internal management reporting, as it provides a clearer<br>view of the Group’s underlying operational performance<br> • This measure is not defined under Australian<br>Accounting Standards, nor is it audited or reviewed in<br>accordance with Australian Auditing Standards and<br>therefore does not represent a statutory financial metric<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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674<br>697<br>14 7 5 3 723<br>(2)<br>Sep-24 Mar-25 Term<br>deposits<br>Savings Tran-saction<br>Mortgage<br>offset<br>Non-interest<br>bearing<br>Sep-25<br>17 856<br>811 829 12 0 0 2 (4)<br>Sep-24 Mar-25 Housing Personal Business<br>and WIB<br>NZ<br>(in A$)<br>Other<br>overseas<br>(in A$)<br>RAMS Sep-25<br>23 59<br>18<br>Households<br>Businesses<br>Institutional<br>GROUP LOANS AND DEPOSITS<br>43<br>Composition of gross loans (% of total) Composition of customer deposits (% of total)<br>Movement in gross loans ($bn) Movement in customer deposits ($bn)<br>1 Only includes Australian lending. 2 Increase in local currency was NZ$3.0bn.<br>EARNINGS<br>$723bn<br>UP 6%<br>UP 3%<br>61<br>13<br>13<br>1<br>7<br>4 1<br>Australian mortgages<br>Australian business<br>Institutional<br>Australian personal<br>New Zealand mortgages<br>New Zealand business/other<br>Other overseas<br>$856bn<br>1 2<br>UP 7%<br>UP 4%<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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577 584<br>12 0 0 (4) 592<br>Sep-24 Mar-25 Australian<br>mortgages<br>NZ<br>mortgages<br>(in A$)<br>Personal RAMS Sep-25<br>265<br>0 11<br>234<br>245<br>9<br>Sep-24 Mar-25 Australian<br>business<br>NZ<br>business<br>(in A$)<br>Institutional Sep-25<br>GROWTH IN LENDING<br>44<br>Mortgages and personal lending ($bn) Business and institutional lending ($bn)<br>Australian mortgages ($bn)<br>503 510<br>38 3<br>519<br>(20)<br>(9) (4)<br>Sep-24 Mar-25 New loans<br>ex<br>refinance<br>Net<br>refinance<br>Property<br>sales and<br>others<br>Paydowns RAMS Sep-25<br>Australian housing credit growth (%)<br>1 Increase in local currency was NZ$1.8 billion. 2 Increase in local currency was NZ$1.2 billion.<br>REVENUE<br>UP 13%<br>UP 8%<br>2<br>UP 3%<br>UP 2%<br>UP 2%<br>UP 1%<br>1<br>0.0%<br>0.2%<br>0.4%<br>0.6%<br>0.8%<br>1.0%<br>Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>Westpac (ex. RAMS) ADI system<br>Charts may not add due to rounding<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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50% 50% 51%<br>21% 21% 21%<br>18% 18% 18%<br>11% 11% 10%<br>Sep-24 Mar-25 Sep-25<br>Consumer Business & Wealth Institutional & Treasury New Zealand<br>29% 29% 27%<br>32% 33% 34%<br>18% 18% 18%<br>9% 10% 10%<br>11% 11% 11%<br>Sep-24 Mar-25 Sep-25<br>Term deposits Savings Transaction Mortgage offset NIB deposits<br>GROWTH IN DEPOSITS<br>45<br>Customer deposits by type (%) Customer deposits by segment (%)<br>Australian household deposit growth (%) Australian household savings deposit mix (%)2<br>1 Non-interest bearing. 2 Mix of Consumer savings accounts. Behavioural savings largely reflects Westpac Life and St.George Incentive Saver, other savings largely reflects Westpac E-saver and St.George Maxi.<br>REVENUE<br>1<br>674 697 723 723 674 697<br>-1.0%<br>0.0%<br>1.0%<br>2.0%<br>3.0%<br>Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>Westpac ADI System<br>80% 85% 88%<br>20%<br>15%<br>12% 139<br>159<br>180<br>Sep-23 Sep-24 Sep-25<br>Behavioural savings Other savings<br>84% of behavioural saving balances achieve the bonus rate<br>Charts may not add due to rounding<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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1.83 1.80 1.82<br>0.13 0.12 0.13<br>1.96 1.92 - - 3bps (1bp) - 1bp 1.95<br>2H24 1H25 Loans Deposits Liquid<br>assets<br>Capital<br> & Other<br>Wholesale<br>funding<br>Treasury<br> & Markets<br>2H25<br>Core NIM Treasury & Markets<br>NET INTEREST MARGIN<br>46<br>Net interest margin (%)<br>Replicating portfolio (RP) and equity hedge (%) Australian deposit balances2 by interest rate<br>bands ($bn)<br>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<br>for September 2025. 2 A$ balances and excludes mortgage offset balances.<br>REVENUE<br>Composition of NIM (%) FY24 FY25 1H25 2H25<br>Core NIM 1.82 1.81 1.80 1.82<br>Treasury & Markets 0.13 0.13 0.12 0.13<br>NIM 1.95 1.94 1.92 1.95<br> ≤25bps 26≤200bps 201≤400bps 401bps+<br>Sep 25<br>balance<br>FY25 avg<br>rate1 Spot rate1 Investment<br>term<br>Equity hedge $56bn 3.65% 3.77% 3 years<br>Domestic deposit hedge $77bn 3.51% 3.65% 5 years<br>73 77<br>49<br>331<br>75 78 73<br>319<br>101<br>57<br>158<br>252<br>Sep-24 Mar-25 Sep-25<br>0.0<br>2.0<br>4.0<br>6.0<br>Sep-21 Sep-22 Sep-23 Sep-24 Sep-25<br>RBA Official Cash Rate<br>3M BBSW<br>Equity hedge rate<br>RP hedge rate<br>1<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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NON-INTEREST AND MARKETS INCOME<br>47<br>Non-interest income by type ($m) Net fee income by segment ($m)<br>Non-interest income by segment ($m) Total Markets income ($m)1<br>1 Includes Markets net interest income.<br>273<br>389<br>599<br>148<br>(14)<br>265<br>381<br>654<br>133<br>3<br>296<br>383<br>741<br>137<br>22<br>Consumer Business &<br>Wealth<br>Institutional NZ (NZ$) Other<br>2H24 1H25 2H25<br>30 7 38<br>439 450<br>15 540<br>2H24 1H25 Fixed<br>income<br>FX,<br>Commodities<br>and Carbon<br>DVA Other 2H25<br>830<br>223<br>329<br>845<br>234<br>345<br>887<br>242<br>438<br>Fees Wealth management Trading and other income<br>2H24 1H25 2H25 830 845 19 17 10 (2) 887 (2)<br>2H24 1H25 Consumer Business<br> & Wealth<br>Institutional New<br>Zealand<br>Other 2H25<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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5,549 5,698 143 67 78 208<br>273 6,218<br>(249)<br>2H24 1H25 Staff costs Technology Volume & other Productivity Investments Restructuring<br>charge<br>2H25<br>2H25 EXPENSES ($M)<br>48<br>3% INCREASE<br>9% INCREASE<br>4% increase ex restructuring<br>Simpler operating model<br>Reduced property footprint<br>Digitisation<br>UNITE investment $111m<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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IMPAIRMENT CHARGES COMPOSITION<br>49<br>Impairment charges ($m)<br>210 251<br>157<br>(163) (204) (238)<br>275 279 282<br>(147)<br>(76) (27)<br>175<br>250<br>174<br>2H24 1H25 2H25 2H24 1H25 2H25 2H24 1H25 2H25 2H24 1H25 2H25 2H24 1H25 2H25<br>Impairment charges and stressed exposures (bps)<br>5<br>128<br>-50<br>50<br>150<br>250<br>350<br>-20<br>0<br>20<br>40<br>60<br>80<br>100<br>2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025<br>Impairment charge to average loans annualised (lhs) Stressed exposures to TCE (rhs)<br>IMPAIRMENT CHARGES<br>New IAPs Write-backs &<br>recoveries<br>Write-offs direct Other movements<br>in CAP<br>Individually assessed Collectively assessed Total<br>Higher Cards & Personal<br>Loans recoveries<br>Improvement in economics,<br>partly offset by overlays<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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UNITE |
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UNITE: FY25 COMPLETED INITIATIVES<br>51<br> • Enhanced digital customer experience and service offering<br> • Streamlined processes and systems to reduce duplication<br> • Facilitates above market growth of balance sheet and<br>investment funds under administration (FUA)<br> • Customer transitions completed<br>This page contains ‘forward looking statements’. Please refer to the disclaimer on page 125.<br>UNITE<br>$7m<br>Initiative<br>cost<br>$5m<br>Initiative<br>cost<br>~$5m<br>In annual<br>cost savings<br>~$4m<br>In annual<br>cost savings<br> • Consolidated 2 chat platforms to 1<br> • Customers enjoy secure conversations with their banker via<br>the Westpac Live app<br> • Customers can resume chats for up to 30 days and receive<br>push notifications when a response is available<br> • Conversations are encrypted through Westpac’s secure<br>messaging network<br>~8m<br>Customers<br>migrated<br>~50%<br>Reduction in<br>related<br>processes and<br>systems<br>ONE CHAT PLATFORM ONE PRIVATE BANK<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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UNITE: CURRENT FOCUS AREAS<br>52<br>This page contains ‘forward looking statements’. Please refer to the disclaimer on page 125.<br>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.<br>UNITE<br>MORTGAGE<br>SIMPLIFICATION1<br>DIGITAL<br>BANKER2<br>ONE<br>COLLECTIONS<br>PLATFORM -<br>ASSISTNOW<br>DEBIT CARD<br>SIMPLIFICATION<br>ONE WEALTH<br>PLATFORM<br>c.$265m<br>(May-25: $450m)<br>~$70m<br>(May-25: $120m)<br>COST3<br>(NOV-25)<br>BENEFITS4<br>(NOV-25)<br>c.$150m<br>(May-25: $175m)<br>BANKER<br>PRODUCTIVITY<br>c.$130m ~$40m<br>(May-25: $25m)<br>c.$70m ~$40m<br>c.$35m ~$15m<br>EXPECTED OUTCOMES FY25 ACHIEVEMENTS PLAN CHANGES<br>Establish products, fees and<br>features on the target state<br>mortgage ledger<br>Implement a single consumer<br>mortgage collateral register<br>Multi-offset<br>capability enabled<br>for all mortgage<br>customers<br>Initiative scope and benefits<br>refined:<br> • RAMS mortgages descoped<br> • Activities transferred to new<br>initiatives to improve efficiency<br>Decommission CRM platform<br>and extend capability to all<br>bankers<br>Migrated 6,000<br>bankers<br>onto Digital Banker<br>Initiative scope refined:<br> • Activities transferred to new<br>initiatives to improve efficiency<br>Migrate Consumer Finance<br>products onto the AssistNow<br>Platform and decommission<br>legacy collections platform<br>Moved Westpac<br>Credit Cards,<br>Flexiloans and<br>RAMs mortgages<br>Expected initiative benefits<br>increased:<br> • Reflects additional benefits<br>from reduced complexity<br>Accounts on the Asgard<br>platform migrated to Panorama<br>Expect migration will complete<br>in 1H26<br>Platform change<br>readiness completed<br>to commenced<br>migration<br>No changes<br>Reduce the product set for<br>debit cards from 34 to 2<br>Commenced our<br>migration of<br>HandyCard product<br>to Debit Mastercard<br>No changes<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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CREDIT QUALITY AND<br>PROVISIONS |
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4,987<br>3,040<br>7,152<br>Reported<br>probability-weighted ECL<br>100%<br>base case ECL<br>100%<br>downside ECL<br>351 536 611 539<br>1,061<br>1,223 1,198 1,190<br>2,405<br>2,390 2,256<br>2,087<br>692<br>768 877<br>933<br>432<br>179 130<br>238<br>4,941<br>5,096 5,072 4,987<br>Sep-23 Sep-24 Mar-25 Sep-25<br>Overlay Stage 1 CAP Stage 2 CAP Stage 3 CAP Stage 3 IAP<br>PROVISIONS FOR EXPECTED CREDIT LOSS<br>54<br>Total provisions for expected credit losses1 ($m) Expected credit loss (ECL) ($m)<br>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.<br>Residential and commercial forecasts represent cumulative reduction over a two-year period.<br>CREDIT QUALITY<br>Decrease due to<br>single name<br>write-off in trade<br>sector<br>Increase due to<br>growth in<br>business lending<br>$1.9bn in provisions<br>above the base case ECL<br>Decrease due to<br>improvements in<br>economic<br>forecasts<br>Forecasts for<br>base case ECL2<br>Base case Downside<br>2025 2026 Trough /<br>peak3<br>GDP growth 1.9% 2.4% (6%)<br>Unemployment 4.4% 4.5% 11%<br>Residential property prices 5.6% 9.0% (27%)<br>Commercial property prices 0.9% 3.8% (32%)<br>Increase due to<br>growth in<br>business lending<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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PROVISION COVER<br>55<br>Exposures as a % of TCE Key ratios<br>Provisioning to TCE (%)<br>CREDIT QUALITY<br>Stage 3 – Lower 90+ day<br>mortgage delinquencies<br>Stage 2 – Decrease due<br>to the run-off of RAMS and<br>upgrades to economic<br>forecasts<br>Stage 1 – Lending growth,<br>mostly in business<br>portfolios<br>Sep-24 Mar-25 Sep-25<br>Stage 1 0.07 0.08 0.08<br>Stage 2<br>Non-stressed 1.10 1.13 1.21<br>Stressed 7.94 8.32 9.24<br>Stage 3 (non-performing)<br>Not impaired 10.48 10.99 11.22<br>Impaired 41.28 40.88 39.53<br>Total 0.41 0.39 0.38<br>Sep-24 Mar-25 Sep-25<br>Provisions to gross loans (bps) 63 61 58<br>Impaired asset provisions<br>to impaired assets (%) 41 41 40<br>Collectively assessed provisions<br>to credit RWA (bps) 130 126 125<br>0.86 0.81 0.78<br>15.26<br>13.10 11.43<br>83.88<br>86.09 87.79<br>Sep-24 Mar-25 Sep-25<br>Stage 3 Stage 2 Stage 1<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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0 600 1,200 1,800 2,400 3,000<br>A-BBB+<br>A<br>AA-A<br>BBB+<br>A-A-BBB+<br>AA-PORTFOLIO COMPOSITION<br>56<br>Total committed exposure (TCE) by risk grade at 30 September 2025 ($m)<br>Top 10 institutional exposures to corporations<br>and NBFIs3 (% of TCE)<br>Top 10 exposures to corporations & NBFIs<br>at 30 September 2025 ($m)4<br>1 Risk grade equivalent. 2 Region is based on booking office. 3 NBFI is non-bank financial institutions. 4 Institutional counterparties; S&P rating or equivalent.<br>CREDIT QUALITY<br>Clearing house<br>membership<br>Standard and Poor’s risk grade1 Australia NZ / Pacific Other overseas Group % of total<br>AAA to AA- 205,433 22,624 19,301 247,358 19%<br>A+ to A- 44,358 6,045 15,397 65,800 5%<br>BBB+ to BBB- 94,651 12,580 12,349 119,580 9%<br>BB+ to BB 108,814 15,226 1,708 125,748 10%<br>BB- to B+ 42,680 6,369 186 49,235 4%<br> <B+ 14,253 2,254 - 16,507 1%<br>Mortgages 579,979 73,997 - 653,976 50%<br>Other consumer products 24,015 3,445 - 27,460 2%<br>TCE 1,114,183 142,540 48,941 1,305,664<br>TCE at 30 September 2024 1,075,520 143,546 33,275 1,252,341<br>Exposure by region2 (%) 85% 11% 4% 100%<br>1.1 1.1<br>1.2<br>1.3<br>Sep-22 Sep-23 Sep-24 Sep-25<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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0.13 0.11 0.16 0.15<br>0.32 0.39<br>0.47<br>0.32<br>0.19<br>0.22<br>0.23<br>0.30<br>0.43<br>0.54<br>0.59<br>0.51<br>1.07<br>1.26<br>1.45<br>1.28<br>Sep-22 Sep-23 Sep-24 Sep-25<br>Total Watchlist & substandard<br>Non-performing, <90 days Non-performing, 90+ days<br>CREDIT QUALITY METRICS<br>57 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Stressed exposures as a % of TCE Movement in stress by segment (bps)<br>New and increased gross impaired assets ($m)1<br>897<br>222 222 174 284 418<br>864<br>614<br>208 193<br>417<br>413<br>FY20 FY21 FY22 FY23 FY24 FY25<br>1H 2H<br>1 Includes exposures that are managed on a facility by facility basis.<br>CREDIT QUALITY<br>Decrease from<br>lower mortgage<br>90+ day<br>delinquencies<br>Reduction mostly<br>within the trade,<br>mining and<br>agriculture sectors<br>Increase from<br>mortgages<br>categorised as<br>non-performing<br>after exiting 90+<br>days past due<br>Increase driven by a<br>single name in the<br>trade sector<br>145<br>128<br>(10)<br>(4) (0) (3)<br>Sep-24 Consumer Business &<br>Wealth<br>Institutional New Zealand Sep-25 |
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0.0<br>1.0<br>2.0<br>3.0<br>4.0<br>5.0<br>6.0<br>Property Wholesale<br> &<br>retail trade<br>Utilities Services Agriculture,<br>forestry &<br>fishing<br>Property &<br>business<br>services<br>Manufacturing Transport<br> &<br>storage<br>Construction Accommodation<br>cafes &<br>restaurants<br>Mining<br>Sep-24 Mar-25 Sep-25<br>CREDIT QUALITY ACROSS SECTORS<br>58 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Corporate and business stressed exposures by industry sector (%)<br>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<br>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.<br>4 Construction includes building and non-building construction, and industries serving the construction sector. 5 Includes impaired exposures. 6 Percentage of portfolio TCE.<br>Exposure and credit quality by sector<br>Sector<br>Finance &<br>insurance1 Property2<br>Wholesale<br> & retail<br>trade Utilities Services3<br>Agriculture,<br>forestry &<br>fishing<br>Property &<br>business<br>services Manufacturing<br>Transport &<br>storage Construction4<br>Accomm,<br>cafes &<br>restaurants Mining<br>TCE ($bn)<br>Sep-25 154.4 93.6 36.0 29.0 28.5 28.3 27.5 26.7 23.3 14.8 13.7 8.6<br>Mar-25 161.0 88.6 33.6 29.1 26.2 26.9 26.8 25.8 21.4 14.0 12.6 8.5<br>Stressed (%)5,6<br>Sep-25 0.1 2.4 4.4 0.1 3.3 3.7 3.0 4.3 2.5 5.5 3.7 1.4<br>Mar-25 0.1 2.7 5.4 0.1 3.6 4.4 2.9 4.2 2.6 4.8 4.2 1.3<br>Impaired (%)6<br>Sep-25 0.0 0.1 0.6 0.0 0.8 0.2 0.5 0.7 0.4 0.6 0.2 0.2<br>Mar-25 0.0 0.1 0.7 0.0 0.9 0.4 0.4 0.8 0.4 0.6 0.2 0.2<br>CREDIT QUALITY<br>Small number of<br>customers upgraded<br>Reduced exposure/<br>write-off<br>Small number of<br>customers downgraded |
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19<br>25<br>18<br>18<br>15<br>5 Office<br>Retail<br>Residential<br>Industrial<br>Corporate<br>Other<br>18<br>12<br>7<br>7<br>9 3<br>44<br>NSW & ACT<br>VIC<br>QLD<br>SA, NT & TAS<br>WA<br>NZ & Pacific<br>Institutional<br>SECTORS IN FOCUS: COMMERCIAL PROPERTY<br>59 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Commercial property exposures<br>(% of TCE)<br>Commercial property portfolio<br>composition (TCE) (%)<br>1 Policy exception can be made under limited circumstances. 2 Fully secured is where the exposure is less than 100% of the bank extended value of the security, which is a discount of the market value of the security. 3<br>Includes impaired exposures. 4 Percentage of commercial property portfolio TCE. 5 Region is based on booking office.<br>Commercial property portfolio composition (TCE) (%)<br>CREDIT QUALITY<br>Sub-sector<br>Borrower type Region5<br>6.4 6.6 6.8 6.9 7.2<br>Sep-22 Sep-23 Sep-24 Mar-25 Sep-25<br>Sep-24 Mar-25 Sep-25<br>TCE ($bn) 85.5 88.6 93.6<br>% of Group TCE 6.83 6.88 7.17<br>Lending ($bn) 68.8 71.5 75.1<br>Median risk grade<br>(S&P equivalent) BB BB BB<br>% of portfolio graded<br>as stressed3,4 2.66 2.67 2.41<br>% of portfolio<br>impaired4 0.09 0.11 0.07<br> • Single credit policy, supported by industry<br>sector concentration limits<br> • Maintained credit standards, with close<br>oversight of portfolio<br> • Managed by specialist relationship teams,<br>dedicated credit officers and subject matter<br>experts<br> • Limited risk appetite for lower grade office<br>buildings<br> • Weighted average LVR for the Australian<br>secured portfolio <50%<br> • Credit policy maximum LVR at origination<br>65%1<br> • 84% fully secured2<br>27<br>9<br>52<br>12<br>Investors &<br>developers <$10m<br>Developers >$10m<br>Investors >$10m<br>Diversified property<br>groups and property<br>trusts |
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SECTORS IN FOCUS: COMMERCIAL PROPERTY – OFFICE<br>60 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>CREDIT QUALITY<br>Commercial property – office<br> • Office exposure has reduced to 1.4% of Group TCE in Sep-25<br>from 2.1% in Sep-20<br> • Concentration to the Office Sector has declined marginally to<br>19.1% (Aug-25)<br> • Weighted towards premium, A & B grade office assets in major<br>CBD locations<br> • Specialist property relationship teams manage all office exposures<br> >$10m TCE<br>S&P equivalent risk grade Geographic concentration (TCE) (%)<br>1 Includes impaired exposures. 2 Percentage of portfolio TCE.<br>Sep-24 Mar-25 Sep-25<br>TCE ($bn) 17.2 17.1 17.7<br>% of Group TCE 1.38 1.33 1.36<br>Lending ($bn) 15.0 15.2 15.3<br>Median risk grade (S&P equivalent) BB- BB- BB-<br>% of portfolio graded as stressed1,2 3.89 3.47 3.05<br>% of portfolio impaired2 0.28 0.30 0.10<br>2<br>31<br>49<br>15<br>3<br>A+ to A- BBB+ to BBB-BB+ to BB BB- to B+<br> <B+<br>16<br>11<br>6<br>7<br>3<br>11<br>46<br>NSW VIC<br>QLD SA, NT, TAS<br>WA NZ, Pacific<br>Institutional |
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SECTORS IN FOCUS: CONSTRUCTION<br>61 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>CREDIT QUALITY<br>Construction Portfolio security composition (TCE) (%)<br>S&P equivalent risk grade Geographic concentration (TCE) (%)<br>1 Includes impaired exposures. 2 Percentage of portfolio TCE.<br>Sep-24 Mar-25 Sep-25<br>TCE ($bn) 13.7 14.0 14.8<br>% of Group TCE 1.10 1.09 1.13<br>Lending ($bn) 8.3 8.6 9.2<br>% of portfolio graded as stressed1,2 4.93 4.79 5.49<br>% of portfolio impaired2 0.72 0.59 0.60<br>59 20<br>21<br>Fully secured<br>Partially secured<br>Unsecured<br>22<br>16<br>9<br>6 4<br>29<br>14 Building construction<br>Installation services<br>Site prep services<br>Structure services<br>Completion services<br>Other services<br>Non-building construction<br>45<br>16<br>14<br>8<br>7<br>3<br>7<br>NSW VIC<br>QLD SA<br>WA ACT,NT,TAS<br>NZ, Pacific |
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SECTORS IN FOCUS: ACCOMMODATION, CAFES AND RESTAURANTS<br>62 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Accommodation, cafes and restaurants<br>Sep-24 Mar-25 Sep-25<br>TCE ($bn) 11.7 12.6 13.7<br>% of Group TCE 0.94 0.98 1.05<br>Lending ($bn) 10.2 10.7 11.9<br>% of portfolio graded as stressed1,2 4.08 4.22 3.70<br>% of portfolio impaired2 0.23 0.19 0.18<br>Portfolio security composition (TCE) (%)<br>86<br>11<br>3<br>Fully secured<br>Partially secured<br>Unsecured<br>Portfolio by sub-sector (TCE) (%)<br>36<br>41<br>18<br>5<br>Accommodation<br>Pubs, taverns and bars<br>Cafes and restaurants<br>Clubs (hospitality)<br>Geographic concentration (TCE) (%)<br>58<br>12<br>16<br>6<br>2 2 3<br>NSW VIC<br>QLD SA<br>WA ACT, NT, TAS<br>NZ, Pacific<br>1 Includes impaired exposures. 2 Percentage of portfolio TCE.<br>CREDIT QUALITY |
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Sep-24 Mar-25 Sep-25<br>TCE ($bn) 12.4 13.6 14.4<br>% of Group TCE 0.99 1.06 1.10<br>Lending ($bn) 8.5 8.8 9.3<br>% of portfolio graded as stressed1,2 6.05 5.78 5.65<br>% of portfolio impaired2 1.21 1.00 1.02<br>SECTORS IN FOCUS: RETAIL TRADE<br>63 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Retail trade Portfolio security composition (TCE) (%)<br>45<br>23<br>32<br>Fully secured<br>Partially secured<br>Unsecured<br>Portfolio by sub-sector (TCE) (%)<br>48<br>28<br>24<br>Personal and household goods retailing<br>Motor vehicle retailing and services<br>Food retailing<br>Geographic concentration (TCE) (%)<br>53<br>12<br>11<br>6<br>5<br>3<br>11<br>NSW VIC<br>QLD SA<br>WA ACT, NT, TAS<br>NZ, Pacific<br>1 Includes impaired exposures. 2 Percentage of portfolio TCE.<br>CREDIT QUALITY |
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Sep-24 Mar-25 Sep-25<br>TCE ($bn) 25.4 26.9 28.3<br>% of Group TCE 2.03 2.09 2.17<br>Lending ($bn) 22.1 23.0 24.5<br>% of portfolio graded as stressed1,2 5.03 4.42 3.68<br>% of portfolio impaired2 0.48 0.38 0.18<br>SECTORS IN FOCUS: AGRICULTURE<br>64 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Agriculture Portfolio security composition (TCE) (%)<br>90<br>7 3<br>Fully secured<br>Partially secured<br>Unsecured<br>Portfolio by sub-sector (TCE) (%) Geographic concentration (TCE) (%)<br>1 Includes impaired exposures. 2 Percentage of portfolio TCE.<br>CREDIT QUALITY<br>25<br>23 26<br>10<br>3<br>4<br>3 2 211 Dairy<br>Beef & sheep<br>Grain<br>Horticulture<br>Services to agriculture<br>Cotton<br>Viticulture<br>Forestry & logging<br>Fishing & aquaculture<br>Poultry<br>Other<br>20<br>19<br>15 11<br>5<br>30<br>NSW/ACT VIC/TAS<br>SA/NT QLD<br>WA NZ |
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Sep-24 Mar-25 Sep-25<br>TCE ($bn) 25.4 25.8 26.7<br>% of Group TCE 2.03 2.00 2.04<br>Lending ($bn) 12.7 12.7 13.8<br>% of portfolio graded as stressed1,2 4.11 4.21 4.33<br>% of portfolio in impaired2 0.90 0.81 0.74<br>SECTORS IN FOCUS: MANUFACTURING<br>65 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Manufacturing Portfolio security composition (TCE) (%)<br>Portfolio by sub-sector (TCE) (%) Geographic concentration (TCE) (%)<br>1 Includes impaired exposures. 2 Percentage of portfolio TCE.<br>CREDIT QUALITY<br>28<br>22<br>14<br>15<br>6<br>15<br>Food and beverage<br>Machinery and equipment<br>Petroleum, coal, chemical and<br>associated product<br>Metal product<br>Non-metallic mineral product<br>Other<br>34<br>17<br>49<br>Fully secured<br>Partially secured<br>Unsecured<br>51<br>8<br>4<br>5<br>3<br>14<br>16<br>NSW/ACT VIC/TAS<br>SA/NT QLD<br>WA NZ/Pacific<br>Other |
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1<br>9<br>22<br>2<br>66<br>1<br>10<br>21<br>2<br>66<br>1<br>10<br>22<br>2<br>66<br>0<br>15<br>24<br>4<br>58<br>LOC IPL-I/O IPL-P&I OO-I/O OO-P&I<br>Sep-24 (Portfolio) Mar-25 (Portfolio)<br>Sept-25 (Portfolio) 2H25 Flows<br>Australian mortgage portfolio Sep-24<br>balance<br>Mar-25<br>balance<br>Sep-25<br>balance<br>2H24<br>flow1<br>1H25<br>flow1<br>2H25<br>flow1<br>Total portfolio ($bn) 503.3 510.2 518.7 55.2 54.8 61.0<br>Owner occupied (OO) (%) 67.9 68.1 67.8 64.0 63.6 60.9<br>Investment property loans (IPL) (%) 31.1 31.0 31.4 36.0 36.4 39.1<br>Variable rate / Fixed rate (%) 91/9 95/5 97/3 99/1 99/1 99/1<br>Interest only (I/O) (%) 11.8 11.8 12.0 17.9 19.1 19.8<br>Proprietary channel (%) 48.2 46.6 45.1 36.4 32.5 32.7<br>First home buyer (%) 11.8 12.2 12.5 13.3 10.8 10.0<br>Mortgage insured (%) 11.7 10.1 8.8 4.5 3.0 2.5<br>Sep-24 Mar-25 Sep-25 2H24<br>flow1<br>1H25<br>flow1<br>2H25<br>flow1<br>Average loan size2 ($’000) 319 330 343 521 550 563<br>Customers ahead on repayments<br>including offset account balances<br>(%)<br>By accounts 83 84 85<br>By balances 80 82 84<br>AUSTRALIAN MORTGAGE PORTFOLIO COMPOSITION<br>66 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>By product and repayment type (%)<br>By year of origination (% of total book)<br>1 2H24 flow is new mortgages settled in the 6 months ended 30 September 2024. 1H25 flow is new mortgages settled in the 6 months ended 31 March 2025. 2H25 flow is new mortgages settled in the 6 months ended<br>30 September 2025. 2 Includes amortisation. Calculated at account level, where split loans represent more than one account.<br>MORTGAGE CREDIT QUALITY<br>Calendar year<br>Charts may not add to 100 due to rounding.<br>11<br>3 3 3 3 4<br>9 11<br>15<br>20<br>18<br>Pre-2016<br>2017 2019 2021 2023 2025 |
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Australian mortgage portfolio Sep-24 Mar-25 Sep-25<br>90+ day delinquencies (bps):<br>Total portfolio1 inc. impaired mortgages 112 86 73<br>Owner occupied loans 115 84 68<br>Investment property loans 99 85 79<br>Principal & interest loans 115 88 71<br>Interest only loans 69 54 64<br>First home buyers 120 89 72<br>30+ day delinquencies<br>total portfolio (bps) 182 150 124<br>Sep-24 Mar-25 Sep-25<br>Customers in hardship2<br>inc. 6 months serviceability hold-out period<br>(by balances, bps)<br>114 76 53<br>Consumer properties in possession (number) 201 176 154<br>Impaired mortgages<br>(by balances, bps) 10 11 11<br>Mortgage losses net of insurance<br>($m, for 6 months ending) 23 15 22<br>Annual mortgage loss rate3 (bps) 0.9 0.6 0.7<br>AUSTRALIAN MORTGAGE PORTFOLIO PERFORMANCE<br>67 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>30+ day and 90+ day delinquencies4 (%)<br>90+ day delinquencies by vintage (%)<br>0.0<br>1.0<br>2.0<br>3.0<br>4.0<br>0 6 12 18 24 30 36 42 48 54 60<br>FY2019 FY2020 FY2021 FY2022<br>FY2023 FY2024 FY2025<br>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<br>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<br>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<br>been restated from 1 April 2025 to include $170m of matured loans.<br>MORTGAGE CREDIT QUALITY<br>Months on book<br>0.59<br>0.73<br>1.24<br>0.0<br>1.0<br>2.0<br>3.0<br>4.0<br>Sep-20 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25<br>90+ dpd excl. 6 months serviceability hold-out<br>period and RAMS (closed to new customers)<br>90+ day delinquencies<br>30+ day delinquencies |
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AUSTRALIAN MORTGAGE PORTFOLIO COMPOSITION AND<br>PERFORMANCE<br>68 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Portfolio by State (%)<br>41<br>28<br>16<br>8<br>7<br>NSW/ACT VIC/TAS<br>QLD WA<br>SA/NT<br>90+ day delinquencies by State (%)<br>Debt-to-income >=6x at origination (%) Applicant gross income band<br>(2H25 drawdowns, % by approved limits)<br>MORTGAGE CREDIT QUALITY<br>Charts may not add due to rounding.<br>20.6<br>24.4<br>21.9<br>11.3<br>7.7 7.9 7.8 7.7 7.6<br>Sep-21 Mar-22 Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Jun-25<br>0.0<br>1.0<br>2.0<br>3.0<br>4.0<br>Sep-20 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25<br>ALL NSW/ACT VIC/TAS<br>QLD WA SA/NT<br>1 3 5 7<br>19<br>50<br>15<br>0 1 3 4<br>10<br>59<br>24<br> <75k 75k to<br>100k<br>100k to<br>125k<br>125k to<br>150k<br>150k to<br>200k<br>200k to<br>500k<br> >500k<br>Owner Occupied Investment Property |
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26<br>21<br>35<br>11<br>6<br>0<br>24<br>19<br>39<br>12<br>7<br>0.6<br>67<br>14 12<br>6 1 0.4 0.6<br>0<br>20<br>40<br>60<br>80<br>100<br>0<=60 60<=70 70<=80 80<=90 90<=95 95<=100 >100<br>2H25 drawdowns LVR at origination<br>Portfolio LVR at origination<br>Portfolio dynamic LVR<br>AUSTRALIAN MORTGAGE PORTFOLIO<br>LOAN-TO-VALUE RATIOS (LVRS) AND OFFSET ACCOUNTS<br>69 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Loan-to-value ratios (%) Serviceability assessment creates a buffer<br>for borrowers<br>Offset account balances ($bn)<br>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<br>average LVR calculation considers size of outstanding balances. 3 Average LVR of new loans is on rolling 6 months.<br>MORTGAGE CREDIT QUALITY<br>Chart may not add to 100 due to rounding.<br>N/A<br>1<br>Australian mortgage portfolio LVRs Sep-24<br>balance<br>Mar-25<br>balance<br>Sep-25<br>balance<br>Weighted<br>averages2<br>LVR at origination (%) 71 71 71<br>Dynamic LVR1 (%) 49 49 48<br>LVR of new loans3 (%) 70 69 69<br> • Loans are assessed at the higher of:<br> – The customer rate, including any life-of-loan discounts, plus the<br>serviceability buffer of 3.0%; or<br> – The minimum assessment rate, called the “floor rate”, currently 5.05%<br> • A serviceability buffer of 1.0% may be applied on an exceptions basis for<br>certain customers seeking to refinance their loan, subject to eligibility<br>criteria including LVR, bureau score and repayment amounts<br> • Interest only (I/O) loans: Assessed based on the residual principal and<br>interest (P&I) term using the applicable P&I rate, plus a 3.0% buffer<br> • New fixed rate loans: Assessed on the variable rate to which the loan<br>will revert after the fixed period, plus a buffer<br>73<br>41<br>46<br>51 53<br>57<br>63<br>Sep-19 Sep-20 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25 |
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19.0 19.4 19.4 19.7 20.8<br>Sep-21 Sep-22 Sep-23 Sep-24 Sep-25<br>36<br>16<br>19<br>15<br>14<br>1<br> >2yrs<br> >6mths <2yrs<br> <6 mths<br> < 1 mth<br>On time<br>Behind 2<br>18 19<br>21<br>17<br>24<br>1<br>14<br>18<br>21<br>18<br>27<br>Behind On time < 1mth < 6mths >2yrs<br>Sep-24 Sep-25<br>AUSTRALIAN MORTGAGE PORTFOLIO REPAYMENT BUFFERS<br>70 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Buffer to balance ratio1 (%)<br>(% by accounts)<br>Customers ahead on repayments2<br>Charts may not add due to rounding.<br>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<br>due. ‘On time’ includes up to 30 days past due.<br>MORTGAGE CREDIT QUALITY<br>Investment property loans –<br>(generally maintain higher<br>balances for tax purposes)<br>Accounts opened in the<br>last 12 months<br>Structural restrictions on<br>repayments e.g. fixed rate<br>Residual – <1 month<br>repayment buffer<br> >6mths<br>to <2yrs<br>Loans ‘on time’ and <1mth ahead<br>Buffer = current limit – outstanding balance + offset balance<br>(% by balances)<br>Owner-occupied variable rate customers change in buffer over<br>12 months (by balances)<br>14 13<br>4 1<br>4<br>3<br>15<br>14<br>Sep-24 Sep-25<br>32<br>37<br>Changes in customer buffers1 (%)<br>0.0<br>20.0<br>40.0<br>60.0<br>Sep-21 Sep-22 Sep-23 Sep-24 Sep-25<br>Increased Unchanged Decreased |
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AUSTRALIAN MORTGAGE PORTFOLIO UNDERWRITING<br>71 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Credit policy at September 2025<br>Income<br> • Verified via payslips, tax returns or salary credits, with other supporting documentation such as PAYG payment summaries or ATO Income<br>Statements (minimum standards apply)<br> • Shading of at least 20% applies to less certain income sources i.e. overtime, bonuses<br>Credit Score<br> & Credit Bureau<br> • Bespoke application scorecards segmented by new and existing customers<br> • Credit and score override rates tracked and capped<br> • Credit bureau checks required<br>Expenses<br> • Assessed as the higher of a borrower’s declared expenses or HEM1 comparable expenses plus any expenses that are not comparable to HEM (e.g.<br>private school fees, life insurance)<br> • HEM is applied by income bands, post settlement postcode location, marital status and dependants<br> • 17 expense categories used, aligned with Melbourne Institute guidelines and LIXI standards<br>Serviceability<br>assessment<br>For serviceability assessment, loans are assessed at the higher of:<br>The customer interest rate, including any life-of-loan discounts, plus the serviceability buffer of 3.0%, or<br>The minimum assessment rate, called the “floor rate”, currently 5.05%<br> • A serviceability buffer of 1.0% may be applied on an exceptions basis for certain customers seeking to refinance their loan, subject to eligibility<br>criteria including LVR, bureau score and repayment amounts<br> • For I/O loans, serviceability is assessed on a P&I basis over the residual term<br> • New fixed rate loans assessed on the variable rate to which the loan will revert after fixed period, plus a buffer<br> • All existing customer commitments are verified<br> • Review Westpac Group accounts and Comprehensive Credit Reporting (CCR) to identify customer commitments<br> • Limits apply to higher debt-to-income lending; >7x referred for manual credit assessment where LVR >80%<br> • Credit card repayments assessed at 3.8% of limit or balance whichever is higher<br>Genuine savings<br>deposit requirements<br> • Minimum 5% proof of genuine savings for higher LVR loans (typically LVR >90% or >80% for Home Guarantee Scheme Loans).<br>Any Home Owner Grants are not considered genuine savings<br>Security<br> • LVR restrictions apply depending on location, property value and nature of security<br> • Restrictions on high-density apartments based in postcode defined areas, generally capital city CBD’s and properties in towns heavily reliant on a<br>single industry, e.g. mining, tourism<br>LMI • Mortgage insurance for higher risk loans, such as LVRs >80%. Special package policy waivers apply for certain professionals and Westpac Group<br>staff<br>1 HEM is the Household Expenditure Measure, produced by the Melbourne Institute.<br>MORTGAGE CREDIT QUALITY |
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9<br>8<br>83<br>Total Portfolio by insurance profile2 (%)<br>23<br>58<br>2<br>17<br>0.53<br>0.00<br>0.50<br>1.00<br>1.50<br>2.00<br>2.50<br>Sep-21 Sep-22 Sep-23 Sep-24 Sep-Non-COVID-19 support COVID-19 support .<br>AUSTRALIAN MORTGAGE PORTFOLIO<br>72 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Hardship1 balances (% of portfolio) Average dynamic LVR and negative equity<br>Hardship1 balances by support solution<br>(% FY25 new hardship accounts)<br>MORTGAGE CREDIT QUALITY<br>2.2<br>0.8<br>0.6 0.6 0.6 0.6<br>56<br>50<br>49 50 49<br>48<br>Sep-20 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25<br>% with Negative Equity Avg Dynamic LVR (%)<br>Reduced repayments (temporarily)<br>No repayments (temporarily)<br>Capping of arrears<br>(Arrears capitalised into the principal owed,<br>repayments are recalculated)<br>Other (may include standalone term extension or<br>other tailored solution)<br>Insurance not required<br>(Low risk profile including loans <80% LVR)<br>Not insured >80% LVR<br>(Policy for certain<br>professionals and Westpac staff)<br>Insured3 (>80% LVR)<br>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<br>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<br>applies to >70% LVR loans, for example, single industry towns.<br>Charts may not add due to rounding. |
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Investment property lending (IPL) portfolio Sep-24 Mar-25 Sep-25<br>Investment property loans ($bn) 155 158 163<br>Weighted<br>averages<br>LVR of IPL loans at origination (%) 70 70 70<br>LVR of new IPL loans in the period (%) 70 70 69<br>Dynamic LVR2 of IPL loans (%) 48 49 48<br>Average loan size3 ($’000) 351 360 374<br>Customers ahead on repayments<br>including offset accounts4 (%) 70 72 74<br>90+ day delinquencies (bps) 99 85 79<br>Annualised loss rate (net of insurance claims) (bps) 1.5 1.2 1.1<br>71<br>21<br>5<br>1<br>2<br>3<br>4<br>5<br>6+<br>13<br>18 16 17<br>24<br>11<br>0<1 Yr 1<2 Yrs 2<3 Yrs 3<4 Yrs 4<5 Yrs 5<10 Yrs 10 Yrs+<br>1 1 2<br>AUSTRALIAN MORTGAGE PORTFOLIO INTEREST ONLY<br>AND INVESTMENT PROPERTY LENDING<br>73 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Interest only (I/O) lending by dynamic LVR and<br>income bank (% of total I/O lending)<br>3 1<br>18<br>7 2<br>41<br>21<br>7<br>62<br>29<br>9<br> <=60% 60%<=80% >80%<br>Dynamic LVR bands (%)<br> <$100k<br>$100k – $250k<br> >$250k<br>Investment property portfolio by number<br>of properties per customer (%)<br>Scheduled I/O term expiry1 (% of total I/O loans)<br>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<br>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<br>more than one account. 4 Customer loans ahead on payments exclude equity/line of credit products as there are no scheduled principal payments.<br>MORTGAGE CREDIT QUALITY<br>I/O portfolio $62bn (12.0% of portfolio)<br>at 30 September 2025<br>Applicant gross income bands<br>Charts may not add due to rounding<br>0.4 |
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AUSTRALIAN CONSUMER FINANCE<br>74 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Australian consumer finance portfolio ($bn)1<br>Sep-24 Mar-25 Sep-25<br>Lending ($bn) 8.5 8.5 8.4<br>As a % of Group loans 1.0 1.0 1.0<br>30+ day delinquencies (%) 2.40 2.55 2.18<br>90+ day delinquencies (%) 1.23 1.30 1.13<br>0.66<br>2.64<br>0.0<br>1.0<br>2.0<br>3.0<br>4.0<br>5.0<br>6.0<br>Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>Credit cards Personal loans<br>Australian consumer finance portfolio1<br>6.3<br>2.2<br>8.5<br>6.4<br>2.1<br>8.5<br>6.4<br>2.0<br>8.4<br>Credit cards Personal loans Total consumer finance<br>Sep-24 Mar-25 Sep-25<br>Credit card accounts paying minimum repayment (%)2<br>4.2 4.2<br>4.0<br>4.1<br>3.9 3.9<br>3.6<br>3.2<br>3.4<br>3.6<br>3.8<br>4.0<br>4.2<br>4.4<br>Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>1 Excludes margin lending and auto finance (sold in 1H25). 2 Minimum repayment over at least six consecutive months. Minimum repayment defined as <=5% of each months statement cycle balance.<br>CREDIT QUALITY<br>Australian consumer finance 90+ delinquencies (%) |
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47.8%<br>19.6% 22.4%<br>7.2% 3.0%<br>0<=60 60<=70 70<=80 80<=90 90+<br>Mortgage portfolio Sep-24 Sep-25<br>Total portfolio (NZ$bn)1 68.0 71.3<br>Owner occupied (%) 74.4 74.3<br>Investment property<br>loans (IPL) (%) 25.6 25.7<br>Broker introduced (%) 53.8 56.7<br>Proprietary channel (%) 46.2 43.3<br>Fixed/ variable split (%) 89/11 88/12<br>Interest only (I/O) (%) 15.5 14.7<br>Loan to Value<br>Ratio (LVR) 80<=90 6.0 7.2<br>LVR >90% 2.6 3.0<br>Mortgage 90+ day delinquencies (%) 0.49 0.46<br>Mortgage 30+ day delinquencies (%) 0.96 0.88<br>Unsecured consumer portfolio<br>(NZ$bn)2 1.2 1.2<br>NEW ZEALAND CREDIT QUALITY<br>75 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Mortgage 90+ day delinquencies3<br>(%)<br>Unsecured consumer 90+ day<br>delinquencies3 (%)<br>1. Mortgage portfolio indicates gross loans. 2. Unsecured consumer portfolio indicates outstanding balance. 3. In May-19 we made changes to the reporting of customers in hardship to align to the method used by APRA.<br>4. LVR based on current loan property value at latest credit event. 5. Chart may not add due to rounding.<br>Mortgage portfolio LVR4<br>(% of portfolio)<br>Business stressed exposures to<br>business TCE (%)5<br>NEW ZEALAND CREDIT QUALITY<br>90% of mortgage portfolio has<br>an LVR less than 80%<br>0.2 0.2 0.2<br>0.3 0.3 0.2<br>2.4<br>2.0<br>1.7<br>2.8<br>2.4<br>2.2<br>Sep-24 Mar-25 Sep-25<br>Watchlist &<br>substandard<br>Non-performing,<br>not impaired<br>Impaired<br>0.46<br>0.0<br>0.2<br>0.4<br>0.6<br>0.8<br>1.0<br>Sep-17 Sep-19 Sep-21 Sep-23 Sep-25<br>0.70<br>0.0<br>1.0<br>2.0<br>3.0<br>Sep-17 Sep-19 Sep-21 Sep-23 Sep-25 |
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CAPITAL, FUNDING<br>AND LIQUIDITY |
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12.24<br>80<br>5<br>16 12.53<br>(58)<br>(12) (2)<br>Mar-25 Net profit 1H25<br>dividend<br>RWA IRRBB Other Capital<br>return<br>Sep-25<br>CET1 CAPITAL RATIO 12.53%<br>77 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Level 2 CET1 capital ratio movements (%, bps)<br>Key capital ratios3 (%)<br>Sep-24<br>Mar-25<br>Sep-25<br>Level 2 CET1<br>capital ratio 12.5 12.2 12.5<br>Additional Tier 1<br>capital ratio 2.3 2.3 1.9<br>Tier 1 capital ratio 14.8 14.5 14.4<br>Tier 2 capital ratio 6.6 7.1 7.2<br>Total regulatory<br>capital ratio 21.4 21.6 21.7<br>Risk weighted assets<br>(RWA) ($bn) 437 449 450<br>Leverage ratio 5.3 5.2 5.1<br>Level 1 CET1 capital ratio 12.7 12.5 12.7<br>Internationally comparable ratios4<br>Leverage ratio<br>(internationally comparable) 5.8 5.7 5.5<br>CET1 capital ratio<br>(internationally comparable) 18.3 18.2 18.3<br>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.<br>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.<br>CAPITAL, FUNDING AND LIQUIDITY<br>1<br>Lending (34bps)<br>Data refinement 16bps<br>Credit quality & other 6bps<br>Adjustments (post 30 Sep 25)<br> • IRRBB standard changes 39bps<br> • Operational risk overlay removal 17bps<br>Other considerations<br> • Share buyback2 (23bps)<br> • Standardised floor met |
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437.4<br>449.5<br>12.6<br>(3.0) 1.4 450.0<br>(0.7) (5.9)<br>(1.8) (2.0) (0.1)<br>Sep-24 Mar-25 Credit quality Lending Counter-party credit<br>and MTM<br>risk<br>Data<br>refinement<br>FX<br>translation<br>IRRBB Operational risk Market<br>risk<br>Sep-25<br>RISK WEIGHTED ASSETS<br>78 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>RWA ($bn)<br>This page contains ‘forward-looking statements’ and statements of expectation. Please refer to the disclaimer on page 125.<br>1 Includes other assets, securitisation exposures in the banking book and settlement risk. 2 Mark to market. 3 Based on the revised APS117 standard.<br>Chart may not add due to rounding<br>CAPITAL, FUNDING AND LIQUIDITY<br>1<br>UP $0.5BN OR 0.1%<br>Credit RWA up $1.2bn or 0.4%<br>2<br>IRRBB RWA ($bn)<br>16 8 (1) (3) (4) (4)<br>20<br>21<br>23<br>35 34 27<br>5<br>5<br>6<br>7 7<br>40<br>34<br>28<br>39 37<br>23<br>4.26 3.79 3.54 3.63 3.51<br>-4<br>-3<br>-2<br>-1<br>0<br>1<br>2<br>3<br>4<br>-10<br>0<br>10<br>20<br>30<br>40<br>50<br>60<br>Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Sep-25<br>Pro forma<br>Embedded loss/(gain) Repricing and yield curve risk<br>Optionality and basis risk 3y Swap rate (in %) • $14bn reduction in RWA following implementation of<br>the revised APS 117, effective 1 October 2025<br> • Use of the modelled 5-year core deposit duration for<br>regulatory purposes contributed $7.8bn and a further<br>$6.2bn reduction from changes to the treatment of<br>optionality and basis risk and other methodology<br>changes<br> • A level of volatility in IRRBB will remain due to new<br>capital considerations when determining the size and<br>composition of our replicating portfolios<br>Changes impacting IRRBB RWA<br>3 |
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REGULATORY CAPITAL CHANGES<br>79 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Implementation Change Details<br>Expected impact on the<br>Group’s Total Capital<br>1 Oct 2025 APS117 – IRRBB<br> • APRA’s revised APS 117 – IRRBB came into effect on 1 October 2025. The revised<br>requirements include implementation of APRA’s reaccreditation outcomes for<br>Westpac’s IRRBB models<br> • Reporting under the revised standard will be reflected in the 31 December 2025<br>Pillar 3 report<br>Refer to page 78<br>1 Jan 2026 Loss Absorbing<br>Capacity (LAC)<br> • Total capital ratio requirement:<br> − Current 16.75%<br> − 1 January 2026 18.25%<br>1 Jan 2027 Additional Tier 1 Capital<br> • AT1 capital instruments will be phased out. The changes will impact the CET1<br>minimum, CET1 buffers and Tier 2 requirements. There is no overall increase in total<br>capital requirements for banks<br> • APRA has also proposed changes to the leverage ratio, large exposures and related<br>entity limits, which will see these calculations based on CET1 capital rather than Tier<br>1 capital<br>Expected in 2027 APS116 – Market Risk • APRA is yet to commence consultation on Fundamental Review of the Trading Book<br>Review decision<br>expected Dec 2025 RBNZ Capital Review<br> • In August 2025, the RBNZ released a consultation paper outlining potential<br>amendments to the prudential framework and is seeking feedback from deposit<br>takers (including WNZL). Proposed changes will impact standardised risk<br>weightings, CET1 minimum, CET1 buffers, Tier 2 requirements and Total Capital<br>Requirements<br> • The RBNZ is expected to make its final decisions in December 2025 with the<br>implementation timeline to be announced in the first quarter of the 2026 calendar<br>year<br>This page contains ‘forward looking statements’. Please refer to the disclaimer on page 125.<br>CAPITAL, FUNDING AND LIQUIDITY |
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INTERNATIONALLY COMPARABLE CAPITAL RATIO RECONCILIATION1<br>80 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>APRA’s capital requirements are more conservative than those of the Basel Committee on Banking Supervision (BCBS), leading to lower reported<br>capital ratios by Australian banks. The following details the adjustments and how Westpac’s APRA CET1 capital ratio aligns to an internationally<br>comparable ratio:<br>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).<br>CAPITAL, FUNDING AND LIQUIDITY<br>Westpac’s CET1 capital ratio (APRA basis) 12.5<br>Equity investments Balances below prescribed threshold are risk weighted, compared to a 100% CET1 deduction under<br>APRA’s requirements 0.0<br>Deferred tax assets Balances below prescribed threshold are risk weighted, compared to a 100% CET1 deduction under<br>APRA’s requirements 0.6<br>Capitalised expenses APRA requires these items to be deducted from CET1. The BCBS only requires exposures classified as<br>intangible assets under relevant accounting standards to be deducted from CET1 0.6<br>Interest rate risk in the<br>banking book (IRRBB)<br>APRA requires capital to be held for IRRBB. The BCBS does not have a Pillar 1 capital requirement for<br>IRRBB 1.4<br>RWA scaling factor APRA applies a scaling factor to all Advanced IRB2 credit RWAs. The BCBS does not apply this scalar 0.9<br>Property finance APRA applies an additional scaling factor to property finance RWA. The BCBS does not apply this scalar 0.5<br>Residential mortgages<br>APRA applies scaling factors to mortgage RWAs for higher risk segments such as interest only and<br>investor mortgages and applies a standardised risk weight to certain mortgages. The BCBS does not apply<br>this treatment<br>1.6<br>Non-retail Loss Given<br>Default (LGD) Non-retail LGD’s under the Foundation IRB (F-IRB) and Advanced IRB approaches differ from the BCBS (0.3)<br>New Zealand APRA requires New Zealand RWAs to be largely calculated in accordance with the RBNZ rules. The<br>RBNZ rules are more conservative than BCBS 0.5<br>Internationally comparable CET1 capital ratio 18.3<br>Internationally comparable Tier 1 capital ratio 20.8<br>Internationally comparable total regulatory capital ratio 30.3 |
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China Merchants Bank<br>Norinchukin Bank<br>Credit Mutuel<br>China Construction Bank<br>Bank of Communications<br>Bank of China<br>Rabobank<br>ICBC<br>OCBC<br>BBVA<br>DZ Bank<br>DBS<br>Agricultural Bank of China<br>State Bank of India<br>Unicredit<br>Intesa Sanpaolo<br>CaixBank<br>Credit Agricole<br>HSBC<br>UBS<br>Lloyds<br>Westpac, 5.51%<br>Mitsubishi UFJ<br>Sumitomo Mitsui<br>CBA<br>NatWest<br>Nationwide<br>BPCE<br>Barclays<br>Mizuho FG<br>Nordea<br>Banco Santander<br>ANZ<br>Deutsche Bank<br>Standard Chartered<br>Danske Bank<br>Toronto Dominion Bank<br>BNP Paribas<br>Bank of Montreal<br>Societe Generale<br>Scotiabank<br>Royal Bank of Canada<br>ING Group<br>Commerzbank<br>CIBC<br>0%<br>2%<br>4%<br>6%<br>8%<br>Rabobank<br>Credit Mutuel<br>Nationwide<br>CBA<br>Danske Bank<br>Westpac, 18.28%<br>DZ Bank<br>Norinchukin Bank<br>Credit Agricole<br>NAB<br>OCBC<br>DBS<br>ANZ<br>Unicredit<br>BPCE<br>Morgan Stanley<br>Nordea<br>Goldman Sachs<br>HSBC<br>JPMorgan Chase<br>Toronto Dominion Bank<br>Standard Chartered<br>Commerzbank<br>Deutsche Bank<br>UBS<br>China Construction Bank<br>NatWest<br>Barclays<br>Lloyds<br>China Merchants Bank<br>Societe Generale<br>ICBC<br>ING Group<br>Citigroup<br>Bank of Montreal<br>CIBC<br>BBVA<br>Scotiabank<br>Royal Bank of Canada<br>Banco Santander<br>Intesa Sanpaolo<br>Mitsubishi UFJ<br>BNP Paribas<br>CaixBank<br>Bank of China<br>Mizuho FG<br>Bank of America<br>0%<br>5%<br>10%<br>15%<br>20%<br>WELL PLACED ON INTERNATIONALLY COMPARABLE1<br>81 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Common equity tier 1 ratio (%)<br>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<br>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<br>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.<br>NAB has not disclosed an internationally comparable leverage ratio since September 2017 and has therefore been excluded.<br>Leverage ratio (%)<br>CAPITAL, FUNDING AND LIQUIDITY |
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APRA TO PHASE OUT AT1 CAPITAL INSTRUMENTS<br>82 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Changes to capital1<br> • In December 2024, APRA confirmed it would proceed to phase out AT1<br> • The 1.5% of AT1 capital will be replaced with 1.25% of Tier 2 capital and<br>0.25% of CET1 capital, effective 1 January 2027<br> • In response, the CET1 operating target has been revised to a post dividend<br>CET1 capital ratio of above 11.25% in normal operating conditions<br> • AT1 instruments will be eligible as Tier 2 capital from 1 January 2027 until<br>their scheduled first call date<br> • Westpac AT1 instruments would reach their first scheduled optional<br>redemption dates by 2031 at the latest<br> • Westpac expects the replacement of AT1 securities with CET1 capital and Tier<br>2 capital securities over the transition period to be manageable1<br>Total capital (%)<br>10.25 10.50 12.53<br>1.50<br>1.91<br>6.50 7.75<br>7.22<br>18.25 18.25<br>21.66<br>Current final<br>requirements<br>Proposed requirements Westpac as at<br>30 Sep 25<br>Tier 2 AT1 CET1<br>Additional Tier 1 and Tier 2 Maturity Profile2 (Notional Amount, A$bn)<br>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.<br>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<br>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.<br>Any early redemption of capital securities would be subject to prior written approval from APRA, which may or may not be provided.<br>CAPITAL, FUNDING AND LIQUIDITY<br>3.6<br>1.5<br>2.1 1.8<br>3.1 3.6<br>1.8<br>5.5<br>1.8<br>2.8 3.2<br>1.8<br>9.6<br>FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 >FY33<br>Additional Tier 1 Tier 2<br>CET1 operating<br>target >11.25% |
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54<br>34<br>5<br>3 22<br>USD<br>AUD<br>EUR<br>NZD<br>JPY<br>SGD<br>80<br>20<br>Callable<br>Bullet<br>TIER 2 CAPITAL AND LAC<br>83<br>Loss-absorbing capacity (LAC) (% of RWA) Tier 2 capital outstanding (%)<br>Tier 2 capital outstanding (%)<br>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<br>spot FX translation at 30 September 2025 for capital outstanding.<br>CAPITAL, FUNDING AND LIQUIDITY<br>By format1 (notional amount)<br>By currency1 (notional amount)<br>7.2<br>2.0 2.0<br>3.0<br>4.5<br>5.0<br>6.5<br>Westpac<br>30 September 2025<br>January 2024<br>Requirements<br>January 2026<br>Requirements<br>Tier 2 LAC<br>0.0<br>1.0<br>2.0<br>3.0<br>4.0<br>5.0<br>6.0<br>7.0<br>FY19 FY20 FY21 FY22 FY23 FY24 FY25<br>AUD USD Other<br>Tier 2 capital issuance by currency1 ($bn)<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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112<br>113 0.5<br>4.8 1.4 0.6 (6.4)<br>Sep-24 Capital Retail/<br>SME<br>Deposits<br>Wholesale<br>funding<br>Liquids<br>and<br>other<br>Loans Sep-25<br>63 66 67 68<br>8<br>8 7 7 1.4<br>0.4 1.0 1.0<br>10 10 10 9<br>5 4 4 4<br>7 6 7 8<br>5 6 4 4<br>Sep-19 Sep-23 Sep-24 Sep-25<br>FUNDING COMPOSITION<br>84 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Funding by residual maturity (%) NSFR (%)<br>Customer deposits and net loans ($bn)<br>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<br>other assets.<br>CAPITAL, FUNDING AND LIQUIDITY<br>Charts may not add due to rounding<br>Wholesale offshore >1yr<br>Wholesale onshore <1yr1<br>Wholesale onshore >1yr<br>Wholesale offshore <1yr1<br>Securitisation<br>Equity2<br>Customer deposits<br>Customer deposits Net loans Customer deposits to net loans ratio (%) Customer deposits<br>73% of total funding<br>(excluding equity)<br>3<br> • Growth in stable funding sources<br> • Customer deposits 68% of total funding, up 1% since September 2024<br> • Additional 20% from stable sources of long-term wholesale and equity<br>525<br>641 674 715 723 773 807 852<br>73.4<br>82.9 83.5 84.9<br>Sep-19 Sep-23 Sep-24 Sep-25 |
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LIQUIDITY COVERAGE RATIO (LCR)<br>85 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>LCR ($bn)<br>100<br>189 10<br>28<br>138<br>189<br>Net cash outflows Liquid assets<br>Movement in LCR (%)<br>133<br>137<br>10.7<br>2.1 (1.5) (5.3)<br>(1.8)<br>Sep-24<br>Qtr<br>HQLA RBNZ<br>eligible<br>securities<br>Customer<br>deposits<br>Wholesale<br>funding<br>Other<br>flows<br>Sep-25<br>Qtr<br>High Quality Liquid Assets (HQLA) (%)<br>23<br>8<br>55<br>13<br>Cash and balances with central banks<br>Balances with foreign central banks<br>Australian government and semi-government bonds<br>Other HQLA<br>LCR Deposit mix (%)<br>35<br>35<br>14<br>16<br>Stable retail and SME deposits<br>Less stable retail and SME deposits<br>Operational deposits<br>Non-operational deposits<br>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,<br>including RBNZ eligible securities.<br>CAPITAL, FUNDING AND LIQUIDITY<br>Liquid assets<br>HQLA<br>1<br>Net cash outflows (NCOs)<br>Other flows1<br>Wholesale funding<br>Customer deposits<br>2<br>$189bn $555bn<br>September 2025 quarterly average 137%<br>Charts may not add due to rounding |
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11<br>10<br>3<br>57<br>19 2 years<br>3 years<br>4 years<br>5 years<br> >5 years<br>18 61<br>7<br>14<br>Senior Bonds<br>Tier 2 Capital<br>Securitisation<br>Covered<br>LONG TERM WHOLESALE FUNDING PROFILE<br>86 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Term debt issuance and maturity profile1 ($bn)<br>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<br>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<br>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.<br>3 Excludes securitisation.<br>FY25 term debt issuance1,2 (%)<br>CAPITAL, FUNDING AND LIQUIDITY<br>By program (%) By currency (%) By tenor3 (%)<br>35<br>42<br>22<br>12<br>AUD<br>USD<br>EUR<br>GBP<br>Other<br>43<br>35<br>42<br>28<br>35<br>32 33<br>26<br>18<br>33<br>FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 >FY30<br>Funding for Lending Programme (NZ)<br>Tier 2 capital<br>Additional Tier 1 capital<br>Covered bond<br>Senior/Securitisation<br>Issuance Maturities |
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WHOLESALE FUNDING<br>87 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Indicative wholesale funding costs<br>(spread above 3mth Bank Bill Swap Rate)<br>Long term wholesale funding back book1 (%)<br>Short term funding back book (%) Long term wholesale funding back book1 (%)<br>1 Back book data excludes securitisation and FLP.<br>By program<br>By currency<br>54<br>22<br>19<br>5<br>Senior bonds<br>Covered bonds<br>Tier 2 capital<br>AT1 capital<br>0 10 20 30 40 50 60<br>40<br>29<br>22<br>3<br>3<br>3<br>0 10 20 30 40 50<br>USD<br>AUD<br>EUR<br>GBP<br>NZD<br>Other<br>CAPITAL, FUNDING AND LIQUIDITY<br>58<br>37<br>6<br>Certificates of deposit<br>Commercial paper<br>MTN<br>0 10 20 30 40 50 60 70<br>By product<br>0<br>50<br>100<br>150<br>1 year 2 year 3 year 4 year 5 year<br>AUD Sep-25 AUD Sep-24<br>USD Sep-25 USD Sep-24<br>Charts may not add due to rounding |
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SUPPORTING<br>CUSTOMERS |
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89 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>CUSTOMER HIGHLIGHTS<br>Key highlights<br>1 The Forrester Digital Experience Review: Australian Mobile Banking Apps, Q3 2025. 2 ATM numbers include Westpac Group ATMs, Precinct,<br>ATMx and ANZ. 3 Main Financial Institution (MFI) refer to appendix for definitions.4 Includes Westpac Branches, Staff Kiosks, Cashless Locations<br>and Advisory centres.<br>SUPPORTING OUR CUSTOMERS<br>#1 MOBILE BANKING APP1<br>Our banking app won awards for its<br>simple design and rich functionality<br>COMMITTED TO SERVICING CASH<br>Spent ~$350m in FY25 to support<br>access to cash in Australian communities<br>LARGEST ATM NETWORK<br>Westpac customers have access to<br>Australia’s largest fee-free network<br>at more than ~6,400 ATMs2<br>COMMUNITY PRESENCE<br>621 branches4 across Australia including<br>125 co-located branches and 3,300<br>Bank@Post locations<br>13M #1<br>#2 #2<br>PROTECTING CUSTOMERS<br>Our suite of digital innovations helped<br>prevent $360 million in potential<br>customer scam losses in FY25<br>Customers Mobile banking app1<br>Consumer<br>banking3<br>Business<br>banking3 |
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#1 MOBILE BANKING APP1<br>90 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br> • Financial management tools to help businesses<br>track cash flows and reconcile expenses<br> • Shared Goals help customers save collaboratively<br>without merging accounts<br> • Savings Finder usage increased 38%4, helping<br>customers uncover saving opportunities<br> • Extended Westpac Verify capability introducing<br>Confirmation of Payee, an industry initiative<br> • Launched SafeBlock, allowing customers to block<br>their account if they suspect a scam<br> • SafeCall has been rolled out to ~1 million<br>customers, helping prevent impersonation scams<br> • Mobile wallet payments rose by 17% in the year,<br>supported by the launch of business cards<br> • Introduced pocket money feature allowing parents<br>to easily manage and reward children for chores<br> • Delivered personalised, relevant and timely<br>insights powered by AI<br> • Introduced multiple offset accounts providing more<br>choice and control to manage finances<br> • Voice activated natural language search usage<br>increased in the year<br> • Easily report and dispute transactions for fraud,<br>scams and mistaken payment<br>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.<br>SUPPORTING OUR CUSTOMERS<br>$159M 6.4M 1.1M CUSTOMERS<br>customer daily logins2 in value rewarded to customers using money management tools3<br>MONEY MANAGEMENT TOOLS SAFE AND SECURE<br>SUPERIOR FUNCTIONALITY SELF-SERVICING AND PAYMENTS |
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350<br>387<br>418<br>455<br>488<br>2H23 1H24 2H24 1H25 2H25<br>5.32<br>5.44<br>5.56 5.60<br>5.72<br>4.9<br>5.1<br>5.3<br>5.5<br>5.7<br>5.9<br>2H23 1H24 2H24 1H25 2H25<br>0.41 0.44 0.44 0.44 0.45<br>43 46 48 47<br>50<br>2H23 1H24 2H24 1H25 2H25<br>Sales (#m) % of total sales<br>CUSTOMERS CONTINUE TO MIGRATE TO DIGITAL1<br>91<br>Digitally active customers (#m) Digital transactions (#m)<br>395<br>412<br>429 437<br>458<br>2H23 1H24 2H24 1H25 2H25<br>Digital sales2,3 Mobile wallet payments (#m)<br>1 For further details see page 122. 2 Consumer only. 3 1H24 sales restated.<br>SUPPORTING OUR CUSTOMERS<br>UP 2% UP 5%<br>UP 16%<br>UP 10%<br>UP 2%<br>UP 8%<br>UP 7%<br>UP 39%<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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ENHANCING BANKING PROTECTION FOR CUSTOMERS1<br>92 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>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.<br> • Australian-first in-app calling capability to help prevent scammers impersonate us<br>is now rolling out<br> • Available in the app to ~1 million customers<br>SAFECALL<br>Spot genuine Westpac calls<br> • Confirmation of Payee capability added in June 2025 to include industry wide name<br> & account verification<br> • Averted $6m in customer scam losses in FY25<br>VERIFY<br>Payee name verification<br> • Challenged over 1.2m transfers; customers abandoned $506m in payments in FY25<br> • Averted $81m in customer scam losses in FY25<br>SAFERPAY<br>Alerts of potential scams<br> • Launched in September 2025<br> • Allows customers to immediately block their account when they suspect they are<br>being scammed<br>SAFEBLOCK<br>Take control of your security<br> • Real time voice AI that assists staff spot scams<br> • JESS has assisted in >20k customer calls in FY25<br>JESS<br>AI assistant<br>SUPPORTING OUR CUSTOMERS |
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Advanced customer behavioural<br>tools combatting remote<br>access scams<br>Saved customers $69m in averted<br>scam losses in FY25<br>BROAD SUITE OF SECURITY FEATURES<br>DRIVING DOWN CUSTOMER LOSSES1<br>93 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>FY25 customer reported scam losses 21% lower compared to FY24 and 44% lower than FY23, with<br>prevention measures saving customers more than $360m in FY25<br>Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25<br>Series1 Series2<br>Introduction of<br>SaferPay<br>Enhancement of Westpac Verify<br>to digital channel<br>Digital Lodgement of<br>Scam cases launched<br>SafeCall customer<br>rollout begins<br>Industry Confirmation<br>of Payee go live<br>Change in scam case Safeblock go live<br>definition<br>JESS AI solution<br>launched<br>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.<br>SUPPORTING OUR CUSTOMERS<br>Dynamic CVC reduces card<br>fraud by more than half<br>compared to customers that use<br>static CVC<br>Utilised by 35,000 customers per day<br>Real-time blocking of<br>questionable online<br>merchants<br>Saved $124m from >1m customer<br>scam incidences in FY25 |
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SERVICE EXCELLENCE: LEADERSHIP ACROSS SEGMENTS1<br>94<br>Consumer<br>1. For further details see page 122.<br>Business<br>SUPPORTING OUR CUSTOMERS<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>-5<br>0<br>5<br>10<br>15<br>Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>WBC Regional Brands Peers<br>-20<br>-10<br>0<br>10<br>20<br>Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>WBC Regional Brands Peers<br>NPS®<br>NPS segment rankings<br>14.5%<br>33.9%<br>11.9%<br>15.4%<br>Peer 1 Peer 2 Peer 3 Westpac<br>Group<br>15.9%<br>26.9%<br>16.7%<br>19.3%<br>Peer 1 Peer 2 Peer 3 Westpac<br>Group<br>Business banking, MFI<br>Consumer banking, MFI<br>NPS®<br>#1 In SME<br>#3 In Small Business<br>#1 In Commercial<br>#2 Call centre<br>Mobile App =#2<br>#1 In Branch<br>Channel NPS rankings |
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#=3<br>SERVICE EXCELLENCE: LEADERSHIP ACROSS SEGMENTS<br>95 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Institutional<br>19<br>-1<br>11<br>-32<br>WBC Peer 1 Peer 2 Peer 3<br>1 Coalition Greenwich Voice of Client 2025 Australia Large Corporate Relationship Banking Study. 2 IJ Global league table database, Australia, 12 months to 30 September 2025. 3 Source: Bloomberg $A bond league<br>table ex-self led as at 30/10/2025 + KangaNews $A ABS league table as at 20/10/2025. 4 Refer page 123.<br>New Zealand<br>SUPPORTING OUR CUSTOMERS<br>12 14<br>21<br>31<br>35<br>29 30 32<br>38<br>26<br>21<br>28<br>17<br>23<br>18<br>Sep-24 Mar-25 Sep-25<br>Westpac Peer 1 Peer 2 Peer 3 Peer 4<br>Consumer NPS® Market leading relationship management4<br>Relationship Strength Index (RSI)1<br>821k 843k 867k<br>72.8% 74.1% 75.4%<br>Sep-23 Sep-24 Sep-25<br>Digital % of active customer base<br>NZ digitally active customers4<br>FY25 change in RSI1 (pts)<br>#2 In SME<br>#2 In Institutional<br>#1 In Corporate<br>In Project Finance2 #1<br>$A bonds & ABS3 #1<br>In Renewable Energy2 #1<br>10-YEAR HIGH |
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FY23 FY24 FY25<br>IMPROVEMENT IN MORTGAGES<br>96 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Annual median time to decision (Days)1<br>7.9<br>5.6 5.2 4.6<br>11.6<br>9.7<br>5.8 5.0<br>FY22 FY23 FY24 FY25<br>1st Party 3rd Party<br>On-Day Settlement (%)<br>76.6<br>84.9<br>87.4<br>FY23 FY24 FY25<br>Unit cost per 3rd party applications ($)<br>SUPPORTING OUR CUSTOMERS<br>UP 14%<br>Westpac Group ranks #1 among peers<br>Mortgages processed on One Bank Platform<br>DOWN 21%<br>82% 100%<br>FY22 FY25<br>1 Prior periods have been restated |
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FY24 FY25<br>FY24 FY25 FY24 FY25<br>OPERATIONAL EFFICIENCY<br>97 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Credit card cost per origination ($) Business lending cost per deal ($)<br>Personal lending cost per origination ($) Financial Market Ops cost per settlement ($)<br>SUPPORTING OUR CUSTOMERS<br>FY24 FY25<br>DOWN 10% DOWN 8%<br>DOWN 11% DOWN 8% |
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98 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>SUPPORTING OUR CUSTOMERS<br>EMPLOYEES<br>Controls underpin who we<br>hire; how we grant access;<br>and how we monitor<br>system use<br>SUPPLIERS<br>Security reviews, limited<br>access to systems and<br>data, and continual<br>performance monitoring<br>SYSTEM SECURITY<br>Integrated approach to<br>security of our systems,<br>e.g. design reviews,<br>patching and secure<br>development<br>CUSTOMERS<br>Dedicated controls to help<br>protect customers from<br>fraud, including multi-factor authentication<br>CORE SECURITY<br>Core security capabilities<br>across all systems, e.g.<br>malware prevention,<br>firewalls, email security<br>MONITORING,<br>INTELLIGENCE AND<br>NETWORKS<br>24/7 monitoring of attacks<br>and control weaknesses.<br>Threat detection<br>supported by cyber threat<br>intelligence and<br>information sharing<br>partnerships<br>CYBER SECURITY – A LAYERED DEFENCE<br>SYSTEM SECURITY<br>MONITORING, CYBER INTELLIGENCE & PEER NETWORKS<br>DATA<br>Westpac’s systems and processes may not always be 100% effective and are subject to risks and other factors including those described in the 2025 Risk Factors document. |
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SEGMENT RESULTS |
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1,126 1,097<br>159 31 71 1,185 (154) (19)<br>2H24 1H25 Net interest<br>income<br>Non-interest<br>income<br>Operating<br>expenses<br>Impairment<br>charges<br>Tax and NCI 2H25<br>CONSUMER 2H25 PERFORMANCE<br>100 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Net profit ($m)<br>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<br>Includes all points of presence including Advisory, Community Banking Centres and Kiosks. Co-located branches are considered two points of presence.<br>CONSUMER<br>UP 8%<br>NIM up 5bps,<br>AIEA flat<br>UNITE increase and<br>investment seasonality,<br>partly offset by productivity<br>initiatives<br>Lower Cards and<br>Mortgages delinquencies<br>Key financial metrics ex Notable Items 2H24 1H25 2H25<br>Change<br>on 1H25<br>Return on average tangible equity (%) 9.4 9.5 10.3 0.8ppts<br>Expense to income (%) 58.6 58.0 59.0 100 bps<br>Net interest margin (%) 1.70 1.70 1.75 5 bps<br>Average interest-earning assets ($bn) 454 454 456 0%<br>Pre-provision profit ($m) 1,712 1,728 1,764 2%<br>Customer deposit to loan ratio (%) 65.5 67.8 69.7 186 bps<br>Mortgage 90+ day delinquencies (%) 1.12 0.86 0.70 (16 bps)<br>Key operating metrics 2H24 1H25 2H25<br>Change<br>on 1H25<br>Active digital banking customers1 (#m) 5.56 5.60 5.72 0.12<br>Main financial institution2 (%) 16.8 17.2 15.4 (1.8ppts)<br>NPS® (rank)2 #3 #2 =#2 -<br>Branches3 (#) 626 620 621 1<br>Co-location branches (#) 111 114 125 11 |
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1,181 1,090<br>112 2 7 2 1,096 (117)<br>2H24 1H25 Net interest<br>income<br>Non-interest<br>income<br>Operating<br>expenses<br>Impairment<br>charges<br>Tax and NCI 2H25<br>BUSINESS AND WEALTH 2H25 PERFORMANCE<br>101 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Net profit ($m)<br>1 Simple +: Simplified lending pathway for originated loans to customers below $5m TCE. 2 Excluding auto finance portfolio.<br>BUSINESS AND WEALTH<br>Up 1 %<br>AIEA up 8%,<br>NIM decreased 18bps, driven<br>by lending growth outpacing<br>deposit growth<br>Step up in UNITE, additional<br>bankers, seasonality and<br>inflationary pressures on<br>salaries and wages<br>Improved underlying credit<br>and economics assumptions,<br>largely offset by overlays<br>Key financial metrics ex Notable Items 2H24 1H25 2H25<br>Change<br>on 1H25<br>Return on average tangible equity (%) 20.3 19.0 18.6 (0.4ppts)<br>Expense to income (%) 44.0 43.5 45.7 216 bps<br>Net interest margin (%) 5.37 4.94 4.76 (18 bps)<br>Average interest-earning assets ($bn) 101.3 106.3 114.4 8%<br>Pre-provision profit ($m) 1,741 1,693 1,690 (0%)<br>Customer deposit to loan ratio (%) 141.5 138.8 132.2 (Large)<br>Stressed exposures to TCE (%) 5.56 5.26 5.01 (25 bps)<br>Key operating metrics 2H24 1H25 2H25<br>Change<br>on 1H25<br>Business lending time to decision (days) 9.0 8.0 7.9 (0.1)<br>Simple + originated loans (#)1 2,020 2,403 2,909 21%<br>Net loans ($bn)2 100.0 106.8 115.2 8%<br>Deposits ($bn) 144.3 148.3 152.3 3%<br>New Transaction Accounts Opened (#,<br>000s) 64.1 58.3 75.5 30% |
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BT PANORAMA<br>102 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>FUA ($m) Net flows excluding benefit payments2 ($m)<br>Average FUA per account ($’000) Managed accounts FUA ($m)<br>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<br>and 2024). 2 Represents benefit payments from pension accounts; including benefit payments BT Panorama net flows were $2.5b for the 6 months to Sep-25. 3 Investment Trends Adviser Tech Needs Report (June 25).<br>4 Chant West Platform rating (assigned Aug 2025), awarded Highly Recommended for 4th consecutive year. 5 Investment Trends SPDR ETFs/Investment Trends Managed Accounts Report (Mar 2025). See<br>https://www.bt.com.au/about-bt/bt-financial-group/overview/awards.html for more awards.<br>BUSINESS AND WEALTH<br>102,872 113,328 118,593 120,501<br>132,650<br>Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>1,690 1,952<br>3,146 3,364<br>5,115<br>2H23 1H24 2H24 1H25 2H25<br>447 465 496 524 539<br>Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>15,492<br>18,683<br>21,294 23,586<br>28,248<br>Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>Up 33%<br>Up 20%<br>Up 9%<br>Up 3%<br>Up 63%<br>Up 52%<br>Up 12%<br>Up 10%<br>WINNER OF BEST CLIENT PORTAL AND MOBILE APP1 LARGEST SHARE OF ADVISER RELATIONSHIPS FOR PRIMARY PLATFORM CHOICE3<br>5 APPLES - HIGHLY RECOMMENDED4 HIGHEST BRAND AWARENESS FOR MANAGED ACCOUNTS5 |
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686<br>775 51<br>87<br>800<br>(25) (77) (11)<br>2H24 1H25 Net interest<br>income<br>Non-interest<br>income<br>Operating<br>expenses<br>Impairment<br>charges<br>Tax and NCI 2H25<br>INSTITUTIONAL 2H25 PERFORMANCE<br>103 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Net profit ($m)<br>WESTPAC INSTITUTIONAL BANK<br>AIEA up 2%, partly offset by a<br>5bps reduction in NIM ex.<br>Markets<br>Higher investment related costs<br>UP 3%<br>Key operating metrics 2H24 1H25 2H25<br>Change<br>on 1H25<br>Net interest margin ex. Markets (%) 2.13 2.03 1.98 (5bps)<br>Net loans ($bn) 100.6 107.0 117.7 10%<br>Customer Deposits ($bn) 119.8 122.3 131.4 7%<br>Lending and deposit revenue ($m) 1,289 1,332 1,391 4%<br>Sales and risk management income ($m) 391 421 458 9%<br>Key financial metrics ex Notable Items 2H24 1H25 2H25<br>Change<br>on 1H25<br>Return on average tangible equity (%) 14.1 14.8 14.8 -<br>Net interest margin (%) 1.82 1.76 1.79 3bps<br>Expense to income ratio (%) 43.2 44.2 42.4 (183bps)<br>Average interest-earning assets ($bn) 126.6 134.2 137.4 2%<br>Pre-provision profit ($m) 993 1,024 1,137 11%<br>Customer deposit to loan ratio (%) 119.1 114.3 111.6 (271bps)<br>Stressed exposures to TCE (%) 0.76 0.78 0.70 (8bps)<br>Higher markets revenue<br>and lending fees |
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579 526<br>89 4<br>110 671 (3)<br>(55)<br>2H24 1H25 Net interest<br>income<br>Non-interest<br>income<br>Operating<br>expenses<br>Impairment<br>charges<br>Tax and NCI 2H25<br>NEW ZEALAND 2H25 PERFORMANCE1<br>104 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Net profit ($m)<br>1 In NZ$ unless otherwise noted.<br>NEW ZEALAND<br>Higher investment spend and<br>software amortisation, offset by<br>productivity initiatives<br>UP 28%<br>Charts may not add due to rounding.<br>Key operating metrics 2H24 1H25 2H25<br>Change<br>on 1H25<br>Net loans ($bn) 102.1 103.2 106.3 3%<br>Customer Deposits ($bn) 79.7 80.9 81.0 0%<br>Customer deposit to loan ratio (%) 78.1 78.4 76.2 (219 bps)<br>Customers (#m) 1.51 1.51 1.51 -<br>Digital active customers (#m) 0.84 0.85 0.87 2%<br>Branches (#) 106 106 98 (8)<br>ATMs (#) 385 374 358 (16)<br>Key financial metrics ex Notable Items 2H24 1H25 2H25<br>Change<br>on 1H25<br>Return on average tangible equity (%) 14.1 12.5 15.3 2.8 ppts<br>Expense to income (%) 45.5 49.0 46.3 (268 bps)<br>Net interest margin (%) 2.23 2.26 2.39 13 bps<br>Average interest-earning assets ($bn) 119.4 121.3 121.5 0%<br>Pre-provision profit ($m) 806 764 854 12%<br>Stressed exposures to TCE (%) 1.73 1.63 1.47 (16 bps)<br>Mortgage 90+ day delinquencies (%) 0.49 0.54 0.46 (8 bps)<br>Collectively assessed<br>provision benefits, primarily<br>from mortgages<br>NIM up 13bps |
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68 69 71<br>1 1 1<br>33 33 34<br>102 103 106<br>Sep-24 Mar-25 Sep-25<br>NEW ZEALAND BALANCE SHEET (NZ$)<br>105 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Net loans ($bn) Customer deposits ($bn)<br>NEW ZEALAND<br>Loans and % of total Customer deposits and % of total<br>1.3<br>102.1 103.2 1.8 106.3<br>2H24 1H25 Consumer Business 2H25<br>79.7 80.9 1.2 81.0 (1.1)<br>2H24 1H25 Consumer Business 2H25<br>UP 3% FLAT<br>39<br>21<br>21<br>81<br>Sep-25<br>39<br>21<br>21<br>81<br>Mar-25<br>Mortgage Personal Business Term deposits Savings Transaction Household Business Institutional<br>1% 67%<br>32%<br>61% 22%<br>17%<br>22% 59%<br>19% |
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SUSTAINABILITY |
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SUSTAINABILITY STRATEGY SUSTAINABILITY<br>107<br>ALWAYS DELIVER, SAFELY MAKE AN IMPACT OWN IT<br>CUSTOMER<br>CUSTOMER OBSESSED<br>Proactively support<br>customers’ sustainability<br>goals through finance,<br>expertise and advocacy<br>PEOPLE<br>BEST TEAM, TRUSTED EXPERTS<br>Strengthen sustainability<br>learning so our people bring<br>expertise and balance into<br>every decision and interaction<br>RISK<br>SAFE AND STRONG<br>Actively manage material<br>sustainability risks and<br>impacts to customers, our<br>business and community<br>PERFORMANCE<br>EXECUTION EXCELLENCE<br>CHANGE<br>BRILLIANT AT DELIVERY<br>Partner with customers to help<br>deliver our positions on key<br>sustainability topics, including<br>climate, natural capital, human<br>rights and equitable<br>Indigenous participation<br>WE COMMIT TO<br>HOW<br>TAKING ACTION NOW TO CREATE A BETTER FUTURE<br>WHAT TO BE OUR CUSTOMERS’ #1 BANK AND PARTNER THROUGH LIFE<br> • Support the goals of the Paris Agreement by achieving our Scope 1, 2 and 3 greenhouse gas emissions targets by 2030<br> • Partner with customers to implement green, transition, social (including housing affordability) or sustainability activities by providing $55bn sustainable<br>lending and $40bn sustainable bond facilitation activities by 2030<br> • Support customers’ economic resilience and prosperity by increasing our footprint and growing lending to regional businesses and communities faster than in<br>metro Australia<br>SUSTAINABILITY<br>OUTCOMES<br>Create Sustainability<br>Outcomes for our<br>customers, communities<br>and shareholders<br>FOCUS AREAS<br>REGIONAL PROSPERITY<br>Regional business growth, local employment,<br>community and environmental outcomes<br>CLIMATE TRANSITION<br>Decarbonisation and resilience for<br>customers and our operations<br>HOUSING AFFORDABILITY<br>New housing supply, alternative pathways to<br>ownership for customers and housing availability for<br>underserved communities<br>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<br>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.<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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CLIMATE TRANSITION PLAN SUSTAINABILITY<br>76% reduction in scope 1 and 2 absolute<br>emissions by 2030 (2021 baseline)<br>50% reduction in upstream scope 3<br>absolute emissions by 2030 (2021 baseline)<br>2030 scope 3 financed emissions sector<br>targets (see page x for details)<br>$55 billion in sustainable finance<br>lending at 30 Sep-30<br>$40 billion in sustainable bond<br>facilitation between 1 Oct-21 and 30<br>Sep-30<br>NET-ZERO, CLIMATE RESILIENT<br>OPERATIONS<br>SUPPORTING OUR CUSTOMERS’<br>PHYSICAL RESILIENCE<br>PARTNERING WITH CUSTOMERS TO<br>DECARBONISE<br>TARGETS<br>FOCUS AREAS<br>Other sustainability disclosures include<br>Modern Slavery Statement<br>Human Rights Position Statement and Action Plan<br>Natural Capital Position Statement<br>Sustainable Finance Framework<br>Climate Transition Plan<br>New Zealand – 2025 Sustainability Update and Climate Report<br>Reports available at westpac.com.au/sustainability<br>Key climate and sustainability disclosures<br>2025 Annual Report:<br>Details financial and non-financial performance<br>2025 Sustainability Report: Details<br>our approach to managing climate-related risks and opportunities<br>2025 Sustainability Index and<br>Datasheet: Details key sustainability<br>performance metrics in one place<br>Maintain operational resilience to the physical<br>impacts of climate change.<br>Transition our lending portfolios to support the<br>goals of the Paris Agreement.<br>Adopt a portfolio-wide view of exposure and<br>vulnerability to physical climate risks. ASPIRATIONS<br>AMIBITION TO BECOME A NET-ZERO, CLIMATE RESILIENT BANK<br>108 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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Refer to Appendix of our 2025 Sustainability Report for details of the methodologies for estimating our emissions.<br>UNDERSTANDING OUR CARBON ACCOUNT TO TAKE ACTION NOW<br>109 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>SUSTAINABILITY<br>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<br>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.<br>Estimated FY24 financed emissions1 (% of total)<br>Chart does not add to 100% due to rounding; Other not shown (<1%)<br>Scope 1: Direct emissions from<br>controlled facilities, including fleet<br>fuels, refrigerants, gas, diesel, LPG.<br>6,262 4,714 <0.1<br>Scope 3 financed emissions:<br>Indirect emissions related to our<br>lending. Share of customers’ scope 1<br> & 2 emissions.<br>Not<br>Reported2 >99 31.6<br>MtCO2-e<br>Scope 2: Indirect emissions<br>(market-based) from the generation of<br>energy we have purchased, including<br>purchased electricity.<br>2,303 1,963 <0.1<br>Scope 3 upstream emissions:<br>Indirect emissions related to selected<br>sources from our operations and<br>supply chain.<br>57,655 56,469 <0.5<br>Greenhouse gas (GHG) emissions by source (tco2-e)<br>% of<br>FY24 FY25 total<br>18%<br>17%<br>10% 16%<br>9%<br>7%<br>7%<br>6%<br>3%<br>3%<br>2% 2% 1% Agriculture,<br>forestry & fishing<br>Manufacturing<br>Utilities<br>Residential Mortgages<br>Transport & storage<br>Trade<br>Construction<br>Mining<br>Services<br>Accommodation,<br>cafes & restaurants<br>Property services &<br>business services<br>Commercial Real Estate<br>Finance & insurance<br>FY24 ABSOLUTE<br>SCOPE 1 & 2<br>FINANCED EMISSIONS:<br>31.6 MtCO2-e |
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Reduction in market-based<br>emissions from 2021 baseline (%) FY24 FY25<br>2025<br>Target<br>2030<br>Target<br>Target<br>Progress<br>Scope 1 and 2 emissions (86) (89) (64) (76) Surpassed<br>Scope 3 upstream emissions (41) (42) NA (50) On track<br>Progress on operational emissions targets1<br>110<br>Progress on our financed emissions targets1<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>OUR EMISSIONS REDUCTION TARGETS SUSTAINABILITY<br>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<br>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<br>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<br>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.<br>Carbon-intensive sector requirements<br>Rating Action if new / renewed facilities<br>are requested<br>% of<br>customers<br>assessed5<br>A Accept & monitor customer CTP<br>execution. 55<br>B Accept & engage to encourage further<br>development of CTP 36<br>C Escalate to governance committee.<br>New/renewed facilities may be declined. 0<br>D Decline new/renewed facilities 9<br>Preliminary CTP assessment of new or<br>renewed lending or bond facilitation (facilities)<br> • From 30 Sep-25, new or renewed corporate lending and<br>bond facilitation for in-scope customers4 are subject to<br>Customer CTP Evaluation.<br> • The evaluation assesses emissions targets, strategy, capital<br>allocation, and climate governance, and rates customers from<br>A to D.<br> • Customers must have interim Scope 1 and 2 decarbonisation<br>target/s aligned to the well below 2°C goal of the Paris<br>Agreement to qualify for financing.<br> • Customers rated D would not be eligible for financing. If the<br>finance supports National or Energy Security4, we may<br>escalate to the appropriate governance committee for review.<br>Change in emissions from baseline year2 (%)<br>Westpac sector FY23 FY24<br>2030 Target<br>Implied % change<br>Power generation (23) (38) (62)<br>Upstream Oil and Gas (45) (55) (23)<br>Thermal coal mining (81) (94) (100)<br>Aviation (passenger aircraft operators) (45) (47) (60)<br>Steel production Not reported (NR) - As at 30 Sep 24, we are on track to achieve our<br>2030 target and progress is below our emissions pathway. Given the<br>Aluminium small number of customers, this information is not publicly disclosed.<br>Cement production (5) NR (14)<br>Commercial Real Estate (Offices) (18) (27) (59)<br>Residential Real Estate (Australia) (11) (14) (56)<br>Australia Beef and Sheep3 2 2 (9)<br>Australia Dairy3 (7) (7) (10)<br>New Zealand Beef and Sheep3 2 (4) (9)<br>New Zealand Dairy3 (2) (6) (10) |
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68%<br>32%<br>111<br> • $63.4m for EV/Hybrid vehicles loans in Australia.<br> • $182.4m for the Greater Choices home loan and<br>EV loan in New Zealand.<br>Our Sustainable Finance Framework defines how we classify sustainable finance transactions as Green,<br>Transition, Social or Sustainability. We also have 2030 targets for lending and bond facilitation.<br> • 89.2% of our electricity sector lending to<br>renewables.<br> • Coordinating Arranger and Bookrunner for<br>AirTrunk’s SYD1 and SYD2 term loan financing,<br>supporting biodiversity, conservation and<br>disaster relief, delivered through its social impact<br>program.<br> • Joint Sustainability Coordinator for Bluecurrent’s<br>NZ$2.5bn Green Loan supporting smart<br>electricity and water metering across Australasia.<br> • Sustainability Coordinator and Lead Manager for<br>Auckland Council’s first Sustainability-Linked<br>Bond. Auckland Council is targeting to plant one<br>million native forest stems by 2027.<br> • Ranked #1 in the 2025 NZ Sustainable Bond<br>League Table4.<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>CLIMATE-RELATED OPPORTUNITIES AND TARGETS<br>SUSTAINABILITY<br>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<br>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<br>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<br>KangaNews, 2025 NZ Sustainable Bond – All Issuers – Incl Self-led Deals League Table at 30 Sep-25.<br>BOND FACILITATION2 (CUMULATIVE $BN)<br>LENDING (TCE1 $BN)<br>Sep-23 Sep-24 Sep-30<br>19.1<br>28.7<br>55.0<br>Sep-22 Sep-23 Sep-24 Sep-30<br>4.9<br>9.9<br>40<br>Lending Target<br>Bond facilitation Target<br>20%<br>14%<br>24%<br>4%<br>15%<br>9%<br>8%<br>Power Generation<br>4%<br>Transport<br>Commercial<br>Real Estate<br>Australian Mortgages Healthcare<br>Education 2%<br>Other<br>Labelled<br>Lending<br>New Zealand (Agri)<br>New Zealand (non-Agri)<br>LENDING BY SECTOR (SEP-25 %)<br>BOND FACILITATION BY COUNTRY (%)<br>$39.4bn<br>Australia<br>New Zealand<br>$22.3bn<br>+37%<br>Sep-25<br>Sep-25<br>Sustainable finance highlights<br>39.4<br>22.3<br>Other climate-related<br>opportunities (Sep-25)3<br>15.9 |
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ECONOMICS |
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AUSTRALIAN AND NEW ZEALAND ECONOMIC FORECASTS – (%) AS<br>AT 31 OCT 2025<br>113 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Key economic indicators<br>1 Year average growth rates. 2 Through the year growth rates.<br>Key economic indicators Private sector credit growth (% Ann)<br>Sources: RBA, Statistics NZ, Westpac Economics.<br>1 Year average growth rates. 2 Through the year growth rates.<br>ECONOMICS<br>Sources: RBA, Westpac Economics.<br>Sources: IMF, RBA, Statistics NZ, Westpac Economics<br>2024 2025 Calendar Years<br>Q2 Q3 Q4 Q1E Q2F Q3F Q4F 2024 2025F 2026F 2027F<br>World GDP1 - - - - - - - 3.3 3.2 3.1 3.2<br>Australia GDP2 0.9 0.8 1.3 1.4 1.8 2.1 2.1 1.3 2.1 2.4 2.6<br>Unemployment – end period 4.0 4.1 4.0 4.1 4.2 4.3 4.4 4.0 4.4 4.5 4.5<br>CPI headline – year end 3.8 2.8 2.4 2.4 2.1 3.2 3.7 2.4 3.7 2.7 2.6<br>Interest rates – cash rate 4.35 4.35 4.35 4.10 3.85 3.60 3.60 4.35 3.60 3.10 3.10<br>New Zealand GDP2 -0.5 -1.7 -1.4 -0.6 -0.6 0.8 1.2 -1.4 1.2 3.0 3.4<br>Unemployment – end period 4.7 4.9 5.1 5.1 5.2 5.3 5.4 5.1 5.4 4.9 4.3<br>Consumer prices 3.3 2.2 2.2 2.5 2.7 3.0 2.9 2.2 2.9 2.3 2.1<br>Interest rates – official cash rate 5.50 5.25 4.25 3.75 3.25 3.00 2.25 4.25 2.25 2.50 3.50<br>2024 2025F 2026F 2027F<br>Australia Credit growth<br>Total – year end 6.5 7.3 6.5 5.8<br>Housing – year end 5.5 6.6 6.5 5.6<br>Business – year end 8.9 9.0 7.2 6.6<br>New Zealand Credit growth<br>Total – year end 3.1 4.2 5.0 4.9<br>Housing – year end 3.8 5.7 6.3 5.7<br>Business – year end 2.1 1.9 2.6 3.4<br>-8<br>-4<br>0<br>4<br>8<br>12<br>16<br>Sep-11 Sep-13 Sep-15 Sep-17 Sep-19 Sep-21 Sep-23 Sep-25<br>Total credit Australia Housing Australia<br>Business Australia Total credit New Zealand<br>Westpac<br>f’casts<br>% ann |
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Macro-prudential<br>measures<br>2019 election COVID-19 ‘Delta’<br>Macro-prudential<br>measures<br>AUSTRALIAN HOUSING MARKET – PRICES UPTURN MODERATES<br>114 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Dwelling prices (3mth annualised)<br>Dwelling prices (%) – (to September 2025) Dwelling prices (annual %)<br>dwelling prices (%, 3 month annualised)<br>ECONOMICS<br>* Average last 10yrs. Sources: CoreLogic, Westpac Economics<br>Sources: CoreLogic, Westpac Economics<br>Capital city Avg* 2022 2023 2024 2025F 2026F<br>Sydney 5.4 -11.4 11.3 2.7 5 8<br>Melbourne 4.1 -7.1 4.2 -2.1 4 10<br>Brisbane 6.7 -1.9 13.5 11.4 7 8<br>Perth 4.4 4.2 16.2 18.4 8 8<br>Australia 5.3 -6.6 10.1 5.1 6 9<br>Capital city Pop’n Last 3 mths Last 12 mths Last 5 years<br>Sydney 5.6m Up 2.1% Up 3.0% Up 37.9%<br>Melbourne 5.4m Up 1.0% Up 1.9% Up 17.5%<br>Brisbane 2.8m Up 3.5% Up 8.8% Up 80.1%<br>Perth 2.4m Up 4.0% Up 7.5% Up 82.7%<br>-20<br>-15<br>-10<br>-5<br>0<br>5<br>10<br>15<br>20<br>25<br>30<br>35<br>40<br>Sep-17 Sep-18 Sep-19 Sep-20 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25<br>%<br>rate cuts rate hikes<br>Sources: CoreLogic, Westpac Economics |
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-20<br>-10<br>0<br>10<br>20<br>30<br>40<br>0<br>500<br>1000<br>1500<br>2000<br>2500<br>3000<br>2010 2012 2014 2016 2018 2020 2022 2024 2026<br> Annual growth (right axis)<br> Level (left axis)<br>NEW ZEALAND HOUSING MARKET – ACTIVITY HAS STABILISED,<br>STILL SUBDUED<br>115 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Monthly house sales and prices (% Yr)<br>-20<br>-10<br>0<br>10<br>20<br>30<br>40<br>0<br>2,000<br>4,000<br>6,000<br>8,000<br>10,000<br>12,000<br>14,000<br>2004 2007 2010 2013 2016 2019 2022 2025<br>Sales %YR<br>Sales (lhs) House prices (rhs)<br>Dwelling prices (index)<br>750<br>1250<br>1750<br>2250<br>2750<br>750<br>1250<br>1750<br>2250<br>2750<br>2007 2009 2011 2013 2015 2017 2019 2021 2023 2025<br>Auckland Canterbury<br>Wellington Other regions<br>Index Index<br>Dwelling Prices Dwelling prices (%) – (to Aug-25)<br>Capital city Pop’n Last 3 mths Last 12 mths Last 5 years<br>Auckland 1.8m Down 1% Down 1% Up 4%<br>Wellington 0.5m Down 1% Down 3% Up 1%<br>Canterbury 0.7m Up 1% Up 3% Up 42%<br>Nationwide 5.3m Flat Flat Up 15%<br>Sources: REINZ, Westpac Economics<br>ECONOMICS<br>Sources: REINZ, Westpac Economics.<br>Source: REINZ<br>Forecast<br>(Annual %)<br>Ave. past 10<br>years<br>2022 2023 2024 2025F 2026F<br>Nationwide 7% -13% -1% -1% +1% +5%<br>%YR Index = 1000 in 2010<br>Sources: REINZ, Westpac Economics<br>Westpac<br>forecasts |
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-15<br>-11<br>-7<br>-3<br>1<br>5<br>9<br>13<br>Apr-19 Oct-19 Apr-20 Oct-20 Apr-21 Oct-21 Apr-22 Oct-22 Apr-23 Oct-23 Apr-24 Oct-24 Apr-25<br>Real Household Disposable Income %yr Real Household Consumption %yr<br>CONSUMER INCOME & SPEND1<br>116<br>Real household disposable incomes and consumption are recovering<br>State contribution to annual change in buffers<br>(4)<br>(2)<br>-<br>2<br>Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>NSW/ACT VIC/TAS SA/NT QLD WA Total (no. of months)<br>No.<br>months<br>%<br>1 Source: Westpac DataX, Westpac Economics, ABS. 2 Mortgage holders only. Ratio of savings balance to essential expenses.<br>Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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2022 2023 2024 2025<br>85<br>90<br>95<br>100<br>105<br>Mar-20 Sep-20 Mar-21 Sep-21 Mar-22 Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25<br>Commercial SME<br>-5.0<br>-2.5<br>0.0<br>2.5<br>5.0<br>Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2<br>Expenses Income Total<br>Index: March 2020 = 100, including debt servicing<br>BUSINESS CUSTOMER CASHFLOW CONDITIONS IMPROVING<br>117 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Cashflow trends<br>1 Source: Westpac Economics, Macrobond.<br>Cashflow gauge (income to expense)<br>Commercial continues to<br>improve faster than SME’s<br>The share of SME’s with improving<br>cashflow conditions is increasing<br>Excluding debt servicing payments, contribution to quarterly % change Improvement in income<br>to expense ratio<br>Deterioration in income<br>to expense ratio |
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APPENDIX |
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APPENDIX 1: NET PROFIT1<br>119 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>$m 2H24 1H25 2H25<br>Change<br>1H25 – 2H25 (%)<br>Net interest income 9,565 9,569 9,904 4<br>Non-interest income 1,382 1,424 1,567 10<br>Net operating income 10,947 10,993 11,471 4<br>Expenses (5,549) (5,698) (6,218) 9<br>Pre-provision profit 5,398 5,295 5,253 (1)<br>Impairment charges (175) (250) (174) (30)<br>Tax and non-controlling interests (NCI) (1,616) (1,588) (1,564) (2)<br>Net profit 3,607 3,457 3,515 2<br>1 For further information refer to Westpac’s 2025 Full Year Financial Results.<br>APPENDIX |
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Impaired<br>exposures<br>Includes exposures that have deteriorated to the point where full collection of interest<br>and principal is in doubt, based on an assessment of the customer’s outlook, cash flow,<br>and the net realisation of value of assets to which recourse is held:<br> • Facilities 90 days or more past due, and full recovery is in doubt: exposures where<br>contractual payments are 90 or more days in arrears and the net realisable value of<br>assets to which recourse is held may not be sufficient to allow full collection of<br>interest and principal, including overdrafts or other revolving facilities that remain<br>continuously outside approved limits by material amounts for 90 or more calendar<br>days;<br> • Non-accrual facilities: exposures with individually assessed impairment provisions<br>held against them, excluding restructured loans;<br> • Restructured facilities: exposures where the original contractual terms have been<br>formally modified to provide for concessions of interest or principal for reasons<br>related to the financial difficulties of the customer;<br> • Other assets acquired through security enforcement (includes other real estate<br>owned): includes the value of any other assets acquired as full or partial settlement<br>of outstanding obligations through the enforcement of security arrangements; or<br> • Any other facilities where the full collection of interest and principal is in doubt.<br>Stressed<br>exposures<br>Watchlist and substandard, non-performing not impaired, and impaired exposures<br>Total committed<br>exposures (TCE)<br>Represents the sum of the committed portion of direct lending (including funds<br>placement overall and deposits placed), contingent and pre-settlement risk plus the<br>committed portion of secondary market trading and underwriting risk<br>Watchlist and<br>substandard<br>Loan facilities where customers are experiencing operating weakness and financial<br>difficulty but are not expected to incur loss of interest or principal<br>APPENDIX 2: DEFINITIONS – CREDIT QUALITY<br>120 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>APPENDIX<br> <90 days<br>past due<br>Includes facilities less than 90 days past due and those credit exposures, that are in<br>default, but where it is expected that the full value of principal and accrued interest can be<br>collected, generally by reference to the value of security held<br>90+ days<br>past due<br>Includes facilities 90 days or more past due, and those credit exposures that are in default,<br>but where it is expected that the full value of principal and accrued interest can be<br>collected, generally by reference to the value of security held<br>Provision for<br>expected credit<br>losses<br>Expected credit losses (ECL) are a probability-weighted estimate of the cash shortfalls<br>expected to result from defaults over the relevant time frame. They are determined by<br>evaluating a range of possible outcomes and taking into account the time value of money,<br>past events, current conditions and forecasts of future economic conditions<br>Collectively<br>assessed provisions<br>(CAP)<br>CAP for ECL under AASB 9 represent the ECL which is collectively assessed in pools of<br>similar assets with similar risk characteristics. This incorporates forward looking<br>information and does not require an actual loss event to have occurred for an impairment<br>provision to be recognised<br>Individually<br>assessed provisions<br>(IAP)<br>Provisions raised for losses on loans that are known to be impaired and are assessed on an<br>individual basis. The estimated losses on these impaired loans is based on expected future<br>cash flows discounted to their present value and, as this discount unwinds, interest will be<br>recognised in the income statement<br>Stage 1: 12 months<br>ECL – performing<br>For financial assets where there has been no significant increase in credit risk since<br>origination a provision for 12 months ECL is recognised. Interest revenue is calculated on<br>the gross carrying amount of the financial asset<br>Stage 2: Lifetime<br>ECL – performing<br>For financial assets where there has been a significant increase in credit risk since<br>origination but where the asset is still performing a provision for lifetime ECL is recognised.<br>Interest revenue is calculated on the gross carrying amount of the financial asset<br>Stage 3 Lifetime<br>ECL – non-performing<br>For financial assets that are non-performing a provision for lifetime ECL is recognised.<br>Interest revenue is calculated on the carrying amount net of the provision for ECL rather<br>than the gross carrying amount |
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Segments<br>Consumer Consumer provides banking products and services, including mortgages, credit cards,<br>personal loans, and savings and deposit products to Australian retail customers<br>Business and Wealth Business and Wealth serves the banking and wealth needs of Australian customers,<br>including small business, Agribusiness and Commercial businesses<br>WIB Westpac Institutional Bank (WIB) provides a broad range of financial products and<br>services to corporate, institutional and government customers<br>Westpac NZ Westpac New Zealand provides banking, wealth and insurance products and<br>services for consumer, business and institutional customers in New Zealand<br>Earnings drivers<br>Average interest-earning<br>assets (AIEA)<br>The average balance of assets held by the Group that generate interest income.<br>Where possible, daily balances are used to calculate the average balance<br>Net interest margin Calculated by dividing net interest income by average interest-earning assets<br>(annualised where applicable)<br>Core net<br>interest margin<br>Calculated by dividing net interest income excluding Notable Items and Treasury &<br>Markets by average interest-earning assets (annualised where applicable)<br>Pre-provision profit Net operating income less operating expenses<br>NCI Non-controlling interests<br>Full-time equivalent<br>employees (FTE)<br>A calculation based on the number of hours worked by full and part-time employees<br>as part of their normal duties. For example, the full-time equivalent of one FTE is 76<br>hours paid work per fortnight<br>Capital and liquidity<br>Capital ratios As defined by APRA (unless stated otherwise)<br>Committed liquidity<br>facility (CLF)<br>The RBA makes available to Australian Authorised Deposit-taking Institutions (ADIs)<br>a CLF that, subject to qualifying conditions, can be accessed to meet LCR<br>requirements under APS210 Liquidity. APRA announced in September 2021 that<br>ADIs subject to the LCR should reduce their CLF usage to zero by 1 January 2023<br>High quality liquid<br>assets (HQLA) Assets which meet APRA’s criteria for inclusion as HQLA in the numerator of the LCR<br>Internationally<br>comparable ratios<br>Internationally comparable regulatory capital ratios are Westpac’s estimated ratios<br>after adjusting the capital ratios determined under APRA Basel III regulations for<br>various items. Analysis aligns with the APRA study titled “International capital<br>comparison study” dated 13 July 2015<br>Leverage ratio<br>As defined by APRA (unless stated otherwise). Tier 1 capital divided by ‘exposure<br>measure’ and expressed as a percentage. ‘Exposure measure’ is the sum of on-balance sheet exposures, derivative exposures, securities financing transaction<br>exposures and other off-balance sheet exposures<br>Liquidity coverage ratio<br>(LCR)<br>An APRA requirement to maintain an adequate level of unencumbered high quality<br>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<br>LCR must not be less than 100%. LCR is calculated as the percentage ratio of stock<br>of HQLA and CLF over the total net cash out-flows in a modelled 30 day defined<br>stressed scenario<br>Net stable funding ratio<br>(NSFR)<br>The NSFR is defined as the ratio of the amount of available stable funding (ASF) to<br>the amount of required stable funding (RSF) defined by APRA. The amount of ASF is<br>the portion of an ADI’s capital and liabilities expected to be a reliable source of funds<br>over a one year time horizon. The amount of RSF is a function of the liquidity<br>characteristics and residual maturities of an ADI’s assets and off-balance sheet<br>activities. ADI’s must maintain an NSFR of at least 100%<br>Risk weighted<br>assets (RWA)<br>Assets (both on and off-balance sheet) are risk weighted according to each asset’s<br>inherent potential for default and what the likely losses would be in case of default.<br>In the case of non-asset-backed risks (ie. market and operational risk), RWA is<br>determined by multiplying the capital requirements for those risks by 12.5<br>APPENDIX 2: DEFINITIONS – SEGMENTS, EARNINGS DRIVERS,<br>CAPITAL AND LIQUIDITY<br>121 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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Digital<br>Digitally active<br>Australia: Consumer and business customers who have had an<br>authenticated session (including Quickzone) on Westpac Group digital<br>banking platforms in the prior 30 days<br>New Zealand: Customers that have logged into the Westpac NZ digital<br>banking platform at least once in the prior 90 days<br>Digital sales<br>The percentage of quality sales that were digitally initiated in a 12-week<br>period (percentage against the count of all quality sales in that 12-week<br>period)<br>Digital transactions<br>Digital transactions including all payment transactions (Transfer Funds,<br>Pay Anyone and BPAY) within Westpac Live and Compass, excl. Corporate<br>Online and Business Banking online<br>Mobile Wallet<br>Payments<br>Count of transactions that use a digital card via apple pay, fitbit pay,<br>garmin pay, google pay and samsung pay products.<br>Main Financial Institution<br>MFI share<br>MFI share results are based on the number of customers who have a Main<br>Financial Institution (MFI) relationship with an institution, as a proportion of<br>the number of customers that have a MFI relationship with any institution<br>Consumer<br>MFI share<br>Source: Roy Morgan Single Source, September 2024, March 2025 and<br>September 2025 6MMA. MFI Banking Group customers<br>Business<br>MFI share<br>Source: RFI Global, September 2024, March 2025 and September 2025<br>6MMA. MFI Banking Group customers<br>Net Promoter Score<br>Net Promoter Score or<br>NPS®<br>Net Promoter® Score measures the net likelihood of recommendation to<br>others of the customer’s main financial institution for retail or business<br>banking. Net Promoter®, NPS®, NPS Prism®, and the NPS-related<br>emoticons are registered trademarks of Bain & Company, Inc., NICE<br>Systems, Inc., and Fred Reichheld. Net Promoter ScoreSM and Net Promoter<br>SystemSM are service marks of Bain & Company, Inc., NICE Systems, Inc.,<br>and Fred Reichheld. Using an 11-point numerical scale where 10 is<br> ‘Extremely likely’ and 0 is ‘Not at all likely’, Net Promoter Score is<br>calculated by subtracting the percentage of Detractors (0-6) from the<br>percentage of Promoters (9-10).<br>NPS – Consumer Source: RFI Consumer Atlas, September 2023 – September 2025, 6MMA.<br>MFI customers.<br>Mortgage Product NPS<br>Source: 5D Strategic NPS Program, September 2023 – September 2025,<br>6MMA, Westpac AFI mortgage customers.<br>Mortgage Product NPS measures the net likelihood of recommendation to<br>others of the mortgage product via 1st party (direct with the provider), or<br>3rd party (through a broker).<br>Channel NPS Source: 5D Strategic NPS Program, September 2025, 6MMA, Westpac<br>MFI customers who have used the channel in the last 4 weeks.<br>NPS – Business<br>Source: RFI Business Atlas, September 2023 – September 2025, 6MMA.<br>MFI businesses. Business includes Small Business, SME (12MMA) and<br>Commercial customers, weighted by numbers of businesses in each<br>segment.<br>NPS Rank The ranking refers to Westpac’s position relative to the other three major<br>Australian banks (ANZ, CBA and NAB).<br>Regional Brands St.George Bank, Bank of Melbourne and BankSA.<br>APPENDIX 2: DEFINITIONS – DIGITAL, MAIN FINANCIAL<br>INSTITUTION, AND NET PROMOTER SCORE<br>122 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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Net promoter score<br>Relationship Management - Corporate (Westpac NZ)<br>Source: Business Finance Monitor (BFM) conducted by research agency Kantar, ongoing online and phone survey among business owners and financial<br>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<br>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<br>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<br>Relationship Management - SME (Westpac NZ)<br>Source: NZ SME Market Monitor conducted by research agency RFI Global, quarterly online survey among business owners and financial decision makers in<br>businesses with an annual gross turnover of $30,000 - $5 million. Percentage of respondents who have a dedicated Relationship Manager with their main<br>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<br>0= Not at all satisfied and 10=Extremely satisfied<br>Relationship Management -Institutional (Westpac<br>NZ) Source: Coalition Greenwich 2025 Voice of Client NZ Large Corporate Relationship Banking Study<br>Active customers<br>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<br>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<br>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<br>APPENDIX 2: DEFINITIONS – NEW ZEALAND<br>123 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack |
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INVESTOR RELATIONS TEAM – CONTACT US<br>124 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>Contact us<br>INVESTOR RELATIONS CONTACT SHARE REGISTRY CONTACT<br>For all shareholding enquiries relating to:<br> • Address details and communication preferences<br> • Updating bank account details, and participation in the dividend<br>reinvestment plan<br>For all matters relating to Westpac’s strategy,<br>performance and results<br>1800 804 255<br>[email protected]<br>au.investorcentre.mpms.mufg.com<br>+61 2 9178 2977<br>[email protected]<br>westpac.com.au/investorcentre<br>Lucy Wilson<br>Head of Corporate Reporting and ESG<br>Catherine Garcia<br>Head of Investor Relations, Institutional<br>Arthur Petratos<br>Manager, Shareholder Services<br>Laura Babaic<br>Graduate, Investor Relations<br>Jacqueline Boddy<br>Head of Debt Investor Relations<br>Justin McCarthy<br>General Manager, Investor Relations<br>James Wibberley<br>Manager, Investor Relations<br>Nathan Fontyne<br>Senior Analyst, Investor Relations |
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DISCLAIMER<br>125 Westpac Group 2025 Full Year Results Presentation & Investor Discussion Pack<br>The material contained in this presentation is intended to be general background information on Westpac Banking Corporation (Westpac) and its activities.<br>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<br>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<br>warranty is made as to the accuracy, completeness or reliability of the information.<br>All amounts are in Australian dollars unless otherwise indicated.<br>This presentation contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the US Securities Exchange Act of 1934.<br>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<br>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<br>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.<br>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’,<br> ‘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<br>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<br>board’s current expectations or beliefs concerning future developments and their potential effect upon us.<br>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<br>disclaimers set out in this presentation.<br>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<br>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<br>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.<br>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.<br>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<br>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.<br>Further important information regarding climate change and sustainability-related statements<br>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,<br>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,<br>and there are significant uncertainties, limitations, risks and assumptions in the metrics and modelling on which these statements rely.<br>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<br>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<br>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<br>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,<br>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<br>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<br>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<br>review and develop its approach to ESG as this subject area matures<br>DISCLAIMER |
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