Bank Of Queensland Limited · ASX:BOQ
Bank Of Queensland — FY2026 Earnings Presentation
65 slides from Bank Of Queensland's earnings presentation, Oct 15, 2026
Slide 1: FY26 Investor Materials
15 OCTOBER 2026 For personal use only FY26 INVESTOR MATERIALS Full year ended 31 August 2026
Slide 2: Important information and disclaimer
2026 FULL YEAR RESULTS PRESENTATION For personal use only Important information and disclaimer This is a presentation of general background information about Bank of Queensland Limited ABN 32 009 656 740 and its consolidated entities’ (BOQ’s) activities at the date of this document. It is in summary
Slide 3: Contents
2026 FULL YEAR RESULTS PRESENTATION For personal use only Contents FY26 Results Presentation 4 Divisional Results 34 Net Interest Margin 41 Portfolio Quality 45 Funding & Liquidity 53 Economic Assumptions 58 About BOQ Group 61 Abbreviations 64 3
Slide 4: FY26 Results Presentation
For personal use only FY26 RESULTS PRESENTATION 15 OCTOBER 2026 Full year ended 31 August 2026 4
Slide 5: Acknowledgement of Country
BOQ Group acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the land where we live and work. We pay our respects to Elders past and present. This artwork was commissioned through Merinda Watters, a proud Kamileroi woman. Titled Burrul gi-gi maguia (Growing T
Slide 6: Agenda
2026 FULL YEAR RESULTS PRESENTATION For personal use only Agenda Introduction Outlook Jessica Smith, General Manager Investor Relations & Rod Finch, Managing Director & Chief Executive Officer Corporate Affairs Q&A Results overview Rod Finch, Managing Director & Chief Executive Officer Rod Finch, Ma
Slide 7: Results Overview
For personal use only RESULTS OVERVIEW Rod Finch Managing Director & Chief Executive Officer
Slide 8: Overview
2026 FULL YEAR RESULTS PRESENTATION For personal use only Overview Financials Balance sheet Transformation Customers & community $358m $18,950m 100% ~1.4m customers Cash NPAT excl. notables Business lending ME migration complete, with all Choosing BOQ Group for their everyday ▼ 7% (FY25: $383m) ▲ 14
Slide 9: FY26 results
2026 FULL YEAR RESULTS PRESENTATION For personal use only FY26 results Cost discipline maintained and capital strengthened through another year of transformation Key financial results ($m) FY26 FY26 v FY25 Total income 1,679 1% ▲ Operating expenses excl. notable items (1,098) 2% ▲ 1 Less: Notable ex
Slide 10: Transformation to a simpler, specialist bank
2026 FULL YEAR RESULTS PRESENTATION For personal use only Transformation to a simpler, specialist bank Transformation to date has delivered the foundations of a simpler, specialist bank FY26 Foundations of a simpler, FY24 – FY25 specialist bank FY23 Reducing complexity Strategic roadmap defined › St
Slide 11: Our strategy
2026 FULL YEAR RESULTS PRESENTATION For personal use only Our strategy The next phase of our strategy, building on a simpler, specialist bank OUR VISION To be the bank customers choose OUR STRATEGY To be a simple, specialist bank 11
Slide 12: Strategic pillars
2026 FULL YEAR RESULTS PRESENTATION For personal use only Strategic pillars How we deliver a sustainable return to growth GROW REWIRE our customer relationships the bank for the future Winning in our chosen business and Simplify and scale: retail segments: › Decommissioning heritage platforms › Grow
Slide 13: Grow our customer relationships | Business bank
2026 FULL YEAR RESULTS PRESENTATION For personal use only Grow our customer relationships | Business bank Winning in the segments we choose to serve Industry segments Customer segments › Serving industries where we have deep specialist capability › Banker-led relationships, served through our specia
Slide 14: Grow our customer relationships | Retail bank
2026 FULL YEAR RESULTS PRESENTATION For personal use only Grow our customer relationships | Retail bank Customer deposit franchise strategy gaining momentum Digital deposit balances ($bn) Age of new-to-bank transaction customers3 40% Digital brands acquiring a materially Total digital bank deposits
Slide 15: Rewire the bank for the future
2026 FULL YEAR RESULTS PRESENTATION For personal use only Rewire the bank for the future Converting transformation into operating leverage Digital bank ME migration complete Technology stack Platform › Core digital bank build complete › ~350,000 customers › Data on a modern, cloud-enabled, AI- ready
Slide 16: Accelerate the culture shift
2026 FULL YEAR RESULTS PRESENTATION For personal use only Accelerate the culture shift Embedding accountability, capability and performance Total RAP activities completed Risk embedded in how Engaged, capable and Owning the outcome we do business AI-enabled workforce +81 Digital Home Loan Banker NPS
Slide 17: Optimise the bank economics
2026 FULL YEAR RESULTS PRESENTATION For personal use only Optimise the bank economics Disciplined balance sheet and capital management Cost discipline Balance sheet mix Capital-light income Improved funding mix › Operating model simplification › Home lending recycled › New fee income stream establis
Slide 18: Serving our communities
2026 FULL YEAR RESULTS PRESENTATION For personal use only Serving our communities Building on our 152-year Queensland heritage, supporting our customers and communities › ~1.4m customers choosing BOQ for their everyday banking and business needs Customers › Deploying business bankers in regional gro
Slide 19: Financial Detail
For personal use only FINANCIAL DETAIL Racheal Kellaway Chief Financial Officer
Slide 20: Financial performance
2026 FULL YEAR RESULTS PRESENTATION For personal use only Financial performance Second half earnings growth on improved margin, higher non-interest income and disciplined cost management Key financial results ($m) FY26 FY25 FY26 v FY25 2H26 1H26 2H26 v 1H26 Net interest income 1,520 1,515 0% ꟷ 765 7
Slide 21: Non-cash items
2026 FULL YEAR RESULTS PRESENTATION For personal use only Non-cash items Statutory adjustments reflect strategic decisions made to simplify and optimise the business Reconciliation of cash earnings to statutory net profit after tax ($m) FY26 FY25 2H26 1H26 Cash earnings after tax 325 383 149 176 Who
Slide 22: Net interest margin
2026 FULL YEAR RESULTS PRESENTATION For personal use only Net interest margin Funding optimisation and higher interest rates driving second half margin expansion Net interest margin (%) 0.02% (0.02%) 0.11% +1bp replicating portfolio -2bps non-recurrence (0.05%) +2bps uninvested capital of prior half
Slide 23: Non-interest income
2026 FULL YEAR RESULTS PRESENTATION For personal use only Non-interest income New and expanded partnerships growing capital-light income Non-interest income ($m) 159 Capital partnership 142 82 › Customer relationship managed by BOQ, leveraging origination and 74 77 68 12 servicing capability 8 18 10
Slide 24: Capital partnership
2026 FULL YEAR RESULTS PRESENTATION For personal use only Capital partnership Commencement of partnership with Challenger, supporting capital and funding optimisation Overview FY26 FY26 range1 FY26 actuals › ~$3.6bn equipment finance whole-of-loan sale completed 1 May 2026, Net interest income -$16m
Slide 25: Operating expenses
2026 FULL YEAR RESULTS PRESENTATION For personal use only Operating expenses Sub-inflation cost growth with simplification program supporting a reduction in underlying costs Operating expenses ($m) 2% cost growth excl. notable items 47 25 3 (60) 43 +$4m risk 0 15 +$3m technology -$4m various other +
Slide 26: Productivity program
2026 FULL YEAR RESULTS PRESENTATION For personal use only Productivity program Ambitious simplification program on track to deliver $250m of savings $250m productivity program Program status Cumulative benefits in P&L 100% › 82% of benefits delivered on exit of FY26 FY26 in-year benefits › 77% of be
Slide 27: Transformation investment
2026 FULL YEAR RESULTS PRESENTATION For personal use only Transformation investment Transformation investment past the peak with foundational programs delivered Investment spend ($m) Software intangible asset balances ($m) 562 567 540 463 439 254 379 460 423 280 326 263 304 246 257 212 188 180 308 1
Slide 28: Portfolio quality
2026 FULL YEAR RESULTS PRESENTATION For personal use only Portfolio quality Impairment expense normalising off a low base, actual impaired assets reduced Loan impairment expense ($m) Loan impairment expense/GLA (bps) 1H25 2H25 1H26 2H26 Housing & consumer 12 (9) (7) 12 37 Commercial (24) 2 3 7 11 16
Slide 29: Provisioning
2026 FULL YEAR RESULTS PRESENTATION For personal use only Provisioning Coverage ratios maintained, reflecting a prudent approach to economic uncertainty Provisions ($m) Provisioning to standardised credit RWA coverage (%) Total provision/GLA (bps) 1.00% 39 39 38 Normalised total provision/GLA1 (bps)
Slide 30: Funding & liquidity
2026 FULL YEAR RESULTS PRESENTATION For personal use only Funding & liquidity Funding discipline with reduced wholesale reliance and improving deposit mix Liquidity & NSFR1 Deposit funding 86% 85% 87% 142% 143% 141% 83% 136% 72% 72% 72% 73% 123% 124% 123% 123% 1H25 2H25 1H26 2H26 1H25 2H25 1H26 2H26
Slide 31: Capital strength
2026 FULL YEAR RESULTS PRESENTATION For personal use only Capital strength Capital return to shareholders and CET1 maintained above the management target range Summary › Capital management following whole-of-loan sale; 15c special dividend paid and commencement of on-market buy-back of shares1 › 20c
Slide 32: Outlook
For personal use only OUTLOOK
Slide 33: FY27 outlook
2026 FULL YEAR RESULTS PRESENTATION For personal use only FY27 outlook › Continued elevated competition for quality lending and deposits › Targeting commercial lending growth comparable to FY26 › Sustainable return to home lending growth in FY27 › Uncertainty in markets has the potential to drive hi
Slide 34: Divisional Results
For personal use only DIVISIONAL RESULTS 34
Slide 35: Divisional performance
2026 FULL YEAR RESULTS PRESENTATION For personal use only Divisional performance Retail Business FY26 FY25 FY26 v FY25 FY26 FY25 FY26 v FY25 Net interest income 807 807 0% ꟷ 722 713 1% ▲ Non-interest income 84 94 (11%) ▼ 72 50 44% ▲ Total income 891 901 (1%) ▼ 794 763 4% ▲ Operating expenses excl. n
Slide 36: Retail banking overview
2026 FULL YEAR RESULTS PRESENTATION For personal use only Retail banking overview Overview Lending growth ($m) › ME migration complete, with ~350k customers migrated off the 732 2,028 1,279 heritage platform and ~$29bn of home loans now on the digital bank (1,276) (1,368) (903) (509) › Home lending
Slide 37: Home lending performance
2026 FULL YEAR RESULTS PRESENTATION For personal use only Home lending performance Housing metrics Housing application volumes by channel (# ‘000)2 Portfolio FY26 Flow 14.4 14.3 0.1 13.1 0.2 0.4 LVR > 90% (%) 0.8 0.7 LVR > 80% (%) 6.7 4.7 11.1 9.7 11.0 90 days past due (bps) 104 - Interest only % (e
Slide 38: Lending to households (APRA data)
2026 FULL YEAR RESULTS PRESENTATION For personal use only Lending to households (APRA data) Lending to Households (APRA) Multiple (APRA) YTD (A) 3M (A) 1M YTD 3M 1M Market share Major 1 24.83% 16.81% 1.06% 3.8 3.4 3.5 7.46% International 1 9.90% 7.34% 0.61% 1.5 1.5 2.0 2.98% Major 2 6.85% 6.07% 0.41
Slide 39: Business banking overview
2026 FULL YEAR RESULTS PRESENTATION For personal use only Business banking overview Overview Lending growth1 ($m) 931 › Second half cash earnings, excluding notable items, increased 4%, 523 reflecting lower loan impairment expense in the asset finance 433 1,741 2,383 portfolio 110 323 › Commercial l
Slide 40: Lending to business (APRA data)
2026 FULL YEAR RESULTS PRESENTATION For personal use only Lending to business (APRA data) Lending to Businesses (APRA) Multiple (APRA) YTD (A) 3M (A) 1M YTD 3M 1M Market share International 1 19.71% 21.07% -3.71% 1.6 1.5 Neg 1.19% Regional 1 19.50% 20.94% 1.15% 1.6 1.5 1.1 1.08% Major 1 15.80% 19.22
Slide 41: Net Interest Margin
For personal use only NET INTEREST MARGIN 41
Slide 42: Net interest margin – FY25 to FY26
2026 FULL YEAR RESULTS PRESENTATION For personal use only Net interest margin – FY25 to FY26 Net interest margin (%) – FY25 to FY26 0.07% - (0.08%) 0.07% +3bps replicating portfolio +6bps branch strategy +1bp basis hedging +2bps amortised costs -3bps home lending +3bps term deposits -1bp uninvested
Slide 43: Replicating portfolio
2026 FULL YEAR RESULTS PRESENTATION For personal use only Replicating portfolio Summary Replicating portfolio › The replicating portfolio is a tool to smooth 5% earnings through the interest rate cycle 4% 3M BBSW › Capital tenor remains at three years RBA Official Cash Rate › Low-cost deposit tenor
Slide 44: Hedging costs - basis risk
2026 FULL YEAR RESULTS PRESENTATION For personal use only Hedging costs - basis risk Summary Long-term basis risk avg - 9 bps › BOQ’s basis risk exposure fell in 2H26 due to the balance of variable 0.30% rate assets falling more than at-call deposits › Hedging costs contributed ~1bp to NIM in 2H26 0
Slide 45: Portfolio Quality
For personal use only PORTFOLIO QUALITY 45
Slide 46: Collective provisioning
2026 FULL YEAR RESULTS PRESENTATION For personal use only Collective provisioning Unemployment rate (%) Economic forecasts1 (calendar year) (%) Base Downside 5.0% 2026 2027 2028 2026 2027 2028 GDP (YoY growth %) 1.4 1.6 1.8 0.4 (1.2) 0.6 4.0% Unemployment rate (%) 4.5 4.7 4.8 5.0 7.4 7.8 Residential
Slide 47: Housing loan portfolio
2026 FULL YEAR RESULTS PRESENTATION For personal use only Housing loan portfolio Diversified portfolio with conservative LVR lending Summary Housing portfolio by geography (%) › Housing portfolio diversified across geography and channel 6% QLD › ~99% of customers with LVR =<90%, with FY26 flow above
Slide 48: Commercial portfolio
2026 FULL YEAR RESULTS PRESENTATION For personal use only Commercial portfolio Balanced portfolio with controlled risk exposures Summary › Commercial portfolio diversified geographically and by industry › Credit quality remains sound, with no material deterioration observed. 30 DPD arrears down 20bp
Slide 49: Asset finance portfolio
2026 FULL YEAR RESULTS PRESENTATION For personal use only Asset finance portfolio Rebased portfolio following the capital partnership, weighted to novated leasing Summary Asset finance by geography (%) › ~$3.6bn equipment finance whole-of-loan sale to Challenger completed 9% QLD in May 2026, with BO
Slide 50: Business bank lending portfolio
2026 FULL YEAR RESULTS PRESENTATION For personal use only Business bank lending portfolio Well diversified and underpinned by quality security Summary › Business bank portfolio diversified geographically with a diverse channel mix › The portfolio is well secured with ~13% unsecured lending › Commerc
Slide 51: Industry and geographic split over time
2026 FULL YEAR RESULTS PRESENTATION For personal use only Industry and geographic split over time Enhanced diversification over time Housing loans - geographic split over time1 (%) FY26 Balance Outstanding (%) 29% 30% 25% 10% 6% FY17 Balance Outstanding (%) 50% 21% 14% 12% 3% QLD NSW & ACT VIC WA Ot
Slide 52: Emerging risks to portfolio quality
2026 FULL YEAR RESULTS PRESENTATION For personal use only Emerging risks to portfolio quality Macroeconomic environment › Higher energy costs and rising interest rates will likely slow the economy further in FY27 › Cost-of-living pressures continue to weigh upon consumer and business confidence › Ca
Slide 53: Funding & Liquidity
For personal use only FUNDING & LIQUIDITY 53
Slide 54: Funding
2026 FULL YEAR RESULTS PRESENTATION For personal use only Funding Major maturities1, 2, 3 ($m) Long term wholesale funding ($bn) 16.3 15.4 1.6 13.5 1.6 4.4 4.1 1.7 3.2 4.1 3.9 3.8 400 977 6.2 5.8 4.8 2H25 1H26 2H26 Securitisation Covered bond Senior unsecured Additional Tier 1 notes / Subordinated d
Slide 55: Liquidity coverage ratio (LCR)
2026 FULL YEAR RESULTS PRESENTATION For personal use only Liquidity coverage ratio (LCR) LCR (Aug-26) – 136.3% LCR waterfall (Feb-26 to Aug-26) $16.2bn (5.6%) 1.1% 2.6% (2.3%) $11.9bn OTHER CASH OUTFLOWS HIGH WHOLESALE FUNDING 140.5% QUALITY LIQUID 136.3% ASSETS CUSTOMER DEPOSITS Liquid assets Net c
Slide 56: Net stable funding ratio (NSFR)
2026 FULL YEAR RESULTS PRESENTATION For personal use only Net stable funding ratio (NSFR) NSFR (Aug-26) – 123.4% NSFR waterfall (Feb-26 to Aug-26) $66.3bn 0.0% WHOLESALE FUNDING (0.4%) AND OTHER LIABILITIES $53.8bn (3.7%) 5.3% OTHER LOANS CUSTOMER DEPOSITS 123.3% (2.4%) 123.4% 1.8% RESIDENTIAL (0.6%
Slide 57: Credit rating
2026 FULL YEAR RESULTS PRESENTATION For personal use only Credit rating Current debt ratings1 Rating Agency Short Term Long Term Outlook S&P A-2 A- Negative Fitch F2 A- Stable Moody’s P-2 Baa1 Stable (1) The Bank monitors rating agency developments closely and is rated by Standard & Poor’s (S&P), Fi
Slide 58: Economic Assumptions
For personal use only ECONOMIC ASSUMPTIONS 58
Slide 59: Macroeconomic environment
2026 FULL YEAR RESULTS PRESENTATION For personal use only Macroeconomic environment1 The economic outlook is uncertain Macroeconomic overview › Economic growth is likely to moderate in the coming financial year due to higher inflation and interest rates › The labour market is softening from a histor
Slide 60: Housing, business lending and deposit outlook
2026 FULL YEAR RESULTS PRESENTATION For personal use only Housing, business lending and deposit outlook1 The economic outlook is uncertain Housing outlook Business lending outlook Deposits outlook › Higher inflation and interest rates are › Surveys point to business trading › Moderating national inc
Slide 61: About BOQ Group
For personal use only ABOUT BOQ GROUP 61
Slide 62: BOQ Group
2026 FULL YEAR RESULTS PRESENTATION For personal use only BOQ Group Supporting customers for over 150 years with differentiated brands attracting niche segments Our differentiators Key statistics for FY26 › Proud 152-year Queensland heritage › Highly specialised bankers serving niche industry segmen
Slide 63: Distribution network
2026 FULL YEAR RESULTS PRESENTATION For personal use only Distribution network Summary as at 31 August 2026 Corporate Trans. Centre Total 1 24 75 2,028 28 February 2026 99 8 107 29 36 2,644 31 August 2026 94 8 102 8 1,233 7 1,626 1 711 2 974 102 CORPORATE BRANCHES1 10,799 BROKERS ACCREDITED WITH BOQ
Slide 64: Abbreviations
For personal use only ABBREVIATIONS 64
Slide 65: Abbreviations
2026 FULL YEAR RESULTS PRESENTATION For personal use only Abbreviations 1H: First half of financial year CAGR: Compound annual growth rate LIE: Loan impairment expense 1M: One month CBD: Central business district LVR: Loan-to-value ratio 2H: Second half of financial year CET1: Common Equity Tier 1 M