Westpac Banking Corporation · ASX:WBC

Westpac Banking — Westpac Banking Cp Ord — Q1 2026 Earnings Presentation

16 slides from Westpac Banking's earnings presentation, Feb 14, 2026

  1. Slide 1: 1Q26 Investor Discussion Pack

    1Q26 INVESTOR DISCUSSION PACK WESTPAC FOR THE 3 MONTHS ENDED 31 DECEMBER 2025 This document should be read in conjunction with Westpac’s December 2025 Pillar 3 Report. All amounts are in Australian dollars. WESTPAC BANKING CORPORATION ABN 33 007 457 141

  2. Slide 2: Financial Performance

    FINANCIAL PERFORMANCE FINANCIAL PERFORMANCE Net profit excluding Notable Items Excluding Notable Items $1.9bn % movement Unaudited statutory net profit 1Q26 - 2H25 qtr $bn 1Q26 average Net profit excluding Notable Items 1.9 6% Net operating income 5.8 1% $1.9bn Operating expenses (3.0) (5%)2 Net prof

  3. Slide 3: CET1 Capital Ratio 12.3%

    CET1 CAPITAL RATIO 12.3% CAPITAL Level 2 CET1 capital ratio movements (%, bps) Key capital ratios (%) Sep-24 Dec-24 Sep-25 Dec-25 Standard changes: 39bps Level 2 CET1 Additional deposit hedge: (27bps) 12.5 11.9 12.5 12.3 42 (59) capital ratio Embedded losses: (16bps) 12.53 Additional Tier 1 2.3 2.3

  4. Slide 4: Risk Weighted Assets

    RISK WEIGHTED ASSETS CAPITAL RWA ($bn) 10.5 (0.7) (2.3) (1.0) 1.4 (4.7) 1.5 452.4 450.0 (3.2) 0.9 Credit RWA up $3.3bn or 0.9% Up $2.4bn or 0.5% Sep-25 Credit quality Lending 1 Counter- Data FX IRRBB Operational Market Capital floor Dec-25 party credit refinement translation risk risk adjustment and

  5. Slide 5: Provisions for Expected Credit Loss

    PROVISIONS FOR EXPECTED CREDIT LOSS CREDIT QUALITY Total provisions for expected credit losses1 ($m) Key ratios $2.1bn above base case Dec-24 Sep-25 Dec-25 Provisions to gross loans (bps) 62 58 57 5,091 5,072 5,017 4,987 199 130 Impaired asset provisions 238 252 40 40 40 to impaired assets (%) 816 8

  6. Slide 6: Credit Quality Metrics

    CREDIT QUALITY METRICS CREDIT QUALITY Stressed exposures as a % of TCE Australian mortgage delinquencies1 (%) Impaired Non-performing, 90+ days 4.0 90+ day delinquencies 30+ day delinquencies Non-performing, <90 days Watchlist & substandard 3.0 1.39 1.36 1.28 1.17 0.56 0.55 2.0 0.51 0.45 0.23 0.28 0

  7. Slide 7: Credit Quality Across Sectors

    CREDIT QUALITY ACROSS SECTORS CREDIT QUALITY Corporate and business stressed exposures by industry sector (%) 6.0 Dec-24 Sep-25 Dec-25 5.0 4.0 3.0 2.0 1.0 0.0 Property Wholesale Property & Utilities Services Agriculture, Manufacturing Transport Construction Accommodation Mining & business forestry &

  8. Slide 8: Australian Mortgage Portfolio Composition

    AUSTRALIAN MORTGAGE PORTFOLIO COMPOSITION CREDIT QUALITY Australian mortgage portfolio Dec-24 balance Sep-25 balance Dec-25 balance By product and repayment type (%) Total portfolio ($bn) 508.3 518.7 529.7 Dec-24 (Portfolio) Sep-25 (Portfolio) Dec-25 (Portfolio) 66 66 65 Owner occupied (OO) (%) 68.0

  9. Slide 9: Australian Mortgage Portfolio Repayment Buffers

    AUSTRALIAN MORTGAGE PORTFOLIO REPAYMENT BUFFERS CREDIT QUALITY Customers ahead on repayments1 (% by balances) Loans ‘on time’ Dec-24 Sep-25 Dec-25 27 28 and <1mth ahead 25 Investment property loans – 21 21 21 generally maintain higher 31 balances for tax purposes 18 18 19 17 17 17 18 14 14 Accounts

  10. Slide 10: New Zealand Credit Quality

    NEW ZEALAND CREDIT QUALITY CREDIT QUALITY Mortgage delinquencies (%) Mortgage portfolio LVR2 (% of portfolio) 2.0 90+ day delinquencies 30+ day delinquencies 89.6% of mortgage portfolio has an LVR less than 80% 1.5 47.0% 1.0 0.97 23.1% 0.5 19.5% 0.47 7.4% 3.0% 0.0 Dec-23 Jun-24 Dec-24 Jun-25 Dec-25

  11. Slide 11: Funding and Liquidity

    FUNDING AND LIQUIDITY FUNDING AND LIQUIDITY Key funding and liquidity measures Liquidity coverage ratio (LCR) (%) Net stable funding ratio (NSFR) (%) Customer deposits to net loans ratio (D2L) (%) Quarterly average 131 135 137 133 115 83.9 84.5 84.9 84.1 113 113 112 Dec-24 Mar-25 Sep-25 Dec-25 Dec-2

  12. Slide 12: Appendix 1: Net Profit

    APPENDIX 1: NET PROFIT APPENDIX % movement 1Q26 - 2H25 qtr $bn 3Q25 4Q25 2H25 qtr average 1Q26 average Net interest income 5.0 4.9 5.0 5.0 2% Non-interest income 0.8 0.8 0.8 0.7 (4%) Net operating income 5.7 5.7 5.7 5.8 1% Operating expenses (2.9) (3.3) (3.1) (3.0) (5%) Pre-provision profit 2.8 2.5

  13. Slide 13: Appendix 2: Statutory Net Profit

    APPENDIX 2: STATUTORY NET PROFIT APPENDIX % movement 1Q26 - 2H25 qtr $b 3Q25 4Q25 2H25 qtr average 1Q26 average Net interest income 5.0 5.0 5.0 5.0 1% Non-interest income 0.7 0.8 0.8 0.8 (4%) Net operating income 5.8 5.8 5.8 5.8 - Operating expenses (2.9) (3.3) (3.1) (3.0) (5%) Pre-provision profit

  14. Slide 14: Appendix 3: Abbreviations

    APPENDIX 3: ABBREVIATIONS APPENDIX AIEA Average interest earning assets CAP Collectively assessed provisions CET1 capital ratio Common equity tier one capital ratio LCR Liquidity coverage ratio NIM Net interest margin NSFR Net stable funding ratio ROE Return on average equity ROTE Return on average

  15. Slide 15: Investor Relations Team – Contact Us

    INVESTOR RELATIONS TEAM – CONTACT US CONTACT US Justin McCarthy Catherine Garcia General Manager, Investor Relations Head of Investor Relations, Institutional Jacqueline Boddy Lucy Wilson Head of Debt Investor Relations Head of Corporate Reporting and ESG James Wibberley Arthur Petratos Senior manag

  16. Slide 16: Disclaimer

    DISCLAIMER DISCLAIMER The material contained in this presentation is intended to be general background information on Westpac Banking Corporation (Westpac) and its activities. The information is supplied in summary form and is therefore not necessarily complete. It is not intended that it be relied

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