Westpac Banking : Pillar 3 Report for 30 June 2026

About this update from Westpac Banking Corporation

WESTPAC JUNE 2026 INCORPORATING THE REQUIREMENTS OF APS 330 WESTPACBANKING CORPORATION ABN 33 007 457 141 2 WESTPAC GROUP JUNE 2026 PILLAR 3 REPORT Acknowledgement of Indigenous Peoples Westpac acknowledges the First Peoples of Australia. We recognise their ongoing role as Traditional Owners of the land and waters of this country and pay our respects to Elders, past and present. We extend our respect to Westpac's Aboriginal and Torres Strait Islander employees, partners and stakeholders and to the Indigenous Peoples in the other locations where we operate. In Aotearoa (New Zealand) we also acknowledge tāngata whenua and the unique relationship that Indigenous Peoples share with all New Zealanders under Te Tiriti o Waitangi. Content OVERVIEW 3 Introduction 4 Key Metrics 5 Group Structure 8 Capital Overview 10 RISK MANAGEMENT 15 Credit Risk Management 16 Leverage Ratio 17 Funding and Liquidity Risk Management 18 OTHER INFORMATION 19 Management's Declaration 20 Appendices 21 Glossary 22 Disclosure regarding Forward- 25 looking statements In this report reFerences to 'Westpac', 'WBC', 'Westpac Group', 'the Group', 'we', 'us' and 'our' are to Westpac Banking Corporation ABN 33 007 457 141 and its subsidiaries unless it clearly means just Westpac Banking Corporation. In this report, unless otherwise stated or the context otherwise requires, reFerences to 'dollars', 'dollar amounts', '$', 'AUD' or 'A$' are to Australian dollars. ReFerences to 'US$', 'USD' or 'US dollars' are to United States dollars, reFerences to 'NZ$', 'NZD' or 'NZ dollars' are to New Zealand dollars, reFerences to 'EUR' are to European Euro, reFerences to 'SGD' are to Singapore dollars and reFerences to 'JPY' are Japanese Yen. Any discrepancies between totals and sums oF components in tables contained in this report are due to rounding. In this report, unless otherwise stated, disclosures reFlect the Australian Prudential Regulation Authority's (APRA) implementation oF Basel III. InFormation contained in or accessible through the websites mentioned in this report does not Form part oF this report unless we speciFically state that it is incorporated by reFerence and Forms part oF this report. InFormation on those websites owned by Westpac is current as at the date oF this report. Except as required by law, we assume no obligation to revise or update those websites aFter the date oF this report. We are not in a position to veriFy inFormation on websites owned and/or operated by third parties. Westpac Banking Corporation ABN 33 007 457 141 RISK MANAGEMENT OTHER INFORMATION 3 OVERVIEW ‌OVERVIEW INTRODUCTION KEY METRICS KM1: Key metrics GROUP STRUCTURE CAPITAL OVERVIEW OV1: Overview oF Risk Weighted Assets (RWA) Summary oF Credit Risk CMS1: Comparison oF modelled and standardised RWA at risk level INTRODUCTION ‌Westpac Banking Corporation is an Authorised Deposit-taking Institution (ADI) subject to regulation by the Australian Prudential Regulation Authority (APRA). Westpac is primarily accredited to use the Advanced Internal Ratings-Based Approach (A-IRB) For credit risk, the Standardised Measurement Approach (SMA) For operational risk and is required to apply the Pillar 1 Basel capital Framework in our assessment oF traded market risk and interest rate risk in the banking book (IRRBB). This report has been prepared in accordance with APS 330 Public Disclosure (APS 330) and Westpac's Board approved Prudential Disclosure Policy. This report provides prudential inFormation about our risk management practices and measures. Westpac is required to comply with the disclosure requirements issued by the Basel Committee on Banking Supervision (BCBS), subject to certain amendments by APRA. Disclosure requirements vary For quarterly, semi-annual and annual Pillar 3 reports. In addition to this report, the regulatory disclosures section oF Westpac's website 1 contains the reporting requirements For capital instruments under paragraph 37 oF APS 330 and CCA: Main Features oF regulatory capital instruments. Capital instruments disclosures are updated when: A new capital instrument is issued that will Form part oF regulatory capital; or A capital instrument is redeemed, converted into Common equity tier 1 (CET1) capital, written oFF, or its terms and conditions are changed. 1. http://www.westpac.com.au/about-westpac/investor-centre/Financial-inFormation/regulatory-disclosures/ KEY METRICS KM1: Key metrics 1 ‌This table shows Westpac's main regulatory ratios over the last Five quarters. Çm 30 June 2026 31 March 2026 31 December 2025 30 September 2025 30 June 2025 Available capital (amounts) 1 Common Equity Tier 1 (CET1) 56,017 56,936 55,693 56,380 54,576 2 Tier 1 64,535 65,458 64,256 64,978 64,886 3 Total capital 96,447 98,543 97,582 97,491 97,410 Risk-weighted assets (amounts) 4 Total risk-weighted assets (RWA) 464,511 458,343 452,372 450,048 444,768 4a Total risk-weighted assets (pre-Floor) 460,250 458,343 450,853 450,048 444,768 Risk-based capital ratios as a percentage of RWA 5 CET1 ratio (%) 12.06% 12.42% 12.31% 12.53% 12.27% 5b CET1 ratio (%) (pre-Floor ratio) 12.17% 12.42% 12.35% 12.53% 12.27% 6 Tier 1 ratio (%) 13.89% 14.28% 14.20% 14.44% 14.59% 6b Tier 1 ratio (%) (pre-Floor ratio) 14.02% 14.28% 14.25% 14.44% 14.59% 7 Total capital ratio (%) 20.76% 21.50% 21.57% 21.66% 21.90% 7b Total capital ratio (%) (pre-Floor ratio) 20.96% 21.50% 21.64% 21.66% 21.90% Additional CET1 buffer requirements as a percentage of RWA 8 Capital conservation buFFer requirement (%) 3.75% 3.75% 3.75% 3.75% 3.75% 9 Countercyclical buFFer requirement (%) 0.85% 0.84% 0.84% 0.84% 0.84% 10 Bank G-SIB and/or D-SIB additional requirements (%) 1.00% 1.00% 1.00% 1.00% 1.00% 11 Total oF bank CET1 speciFic buFFer 5.60% 5.59% 5.59% 5.59% 5.59% requirements (%) (row 8 + row 9 + row 10) 12 CET1 available aFter meeting the bank's minimum capital requirements (%) 7.56% 7.92% 7.81% 8.03% 7.77% Basel III Leverage ratio 13 Total Basel III leverage ratio exposure measure 1,329,875 1,314,189 1,286,113 1,282,207 1,263,823 14 Basel III leverage ratio (%) (including 4.85% 4.98% 5.00% 5.07% 5.13% the impact oF any applicable temporary exemption oF central bank reserves) Liquidity Coverage Ratio (LCR) a 15 Total high-quality liquid assets (HQLA) 183,484 183,143 181,495 189,346 179,984 16 Total net cash outFlow 137,401 138,483 136,802 137,975 134,500 17 LCR ratio (%) 134% 132% 133% 137% 134% Net Stable Funding Ratio (NSFR) 18 Total available stable Funding 820,487 802,951 793,215 780,361 775,219 19 Total required stable Funding 738,035 714,991 708,148 687,987 681,331 20 NSFR ratio (%) 111% 112% 112% 113% 114% a. LCR disclosures are based on quarterly averages. Level 1 Capital Adequacy Ratios 30 June 2026 31 March 2026 31 December 2025 30 September 2025 30 June 2025 CET1 ratio (%) 12.34% 12.75% 12.52% 12.74% 12.34% CET1 ratio (%) (pre-Floor ratio) 12.40% 12.75% 12.52% 12.74% 12.34% Tier 1 ratio (%) 14.34% 14.77% 14.60% 14.83% 14.89% Tier 1 ratio (%) (pre-Floor ratio) 14.41% 14.77% 14.60% 14.83% 14.89% Total capital ratio (%) 21.93% 22.71% 22.71% 22.77% 23.01% Total capital ratio (%) (pre-Floor ratio) 22.03% 22.71% 22.71% 22.77% 23.01% 1. The KM1 key metrics reFlects the application oF expected credit loss accounting under AASB 9 Financial Instruments. KEY METRICS Level 2 CET1 capital ratio movement Third Quarter 2026 - Second Quarter 2026 38bps (57bps) 12.42% (18bps) 1bp 12.06% Mar-26 Net profit Dividends RWA movement Capital deductions and other items Jun-26 The Level 2 CET1 capital ratio declined by 36 basis points to 12.1%. Key movements included: Third quarter 2026 net proFit added 38 basis points; Payment oF the 2026 interim ordinary dividend detracted 57 basis points; RWA growth detracted 18 basis points mainly From higher credit RWA and the capital Floor RWA adjustment partly oFFset by lower IRRBB RWA; and Capital deductions and other items added 1 basis point mainly due to lower capitalised soFtware balances and other reserve movements. Tier 2 capital Third Quarter 2026 - Second Quarter 2026 The Group issued 30.7 billion and redeemed 32.0 billion oF Tier 2 capital instruments. The net impact oF these transactions was a decrease in the total capital ratio oF approximately 22 basis points. Risk Weighted Assets (RWA) Çm 30 June 2026 31 March 2026 % Mov't Credit risk a 363,497 357,050 2 Market risk 10,780 10,504 3 Interest rate risk in the banking book 42,310 47,088 (10) Operational risk 43,663 43,701 - Total risk weighted assets (pre-floor) 460,250 458,343 - Floor adjustment 4,261 - - Total 464,511 458,343 1 a. Includes counterparty credit risk, credit valuation adjustment, securitisation exposures in the banking book and settlement risk. Total RWA increased by 1% to 3464.5 billion over the quarter with higher credit RWA partly oFFset by lower non-credit RWA. Credit RWA increased by 36.4 billion. Key movements included: A 34.7 billion increase From higher lending primarily in Corporate, Large Corporate and Specialised Lending; A 31.6 billion increase mainly From higher delinquencies in Residential Mortgages and modest rating migrations in the Corporate portFolio; A 31.5 billion increase From credit valuation adjustment and counterparty credit risk due to increases in the mark-to-market value oF derivatives From changes in underlying Foreign currency rates; A 30.7 billion decrease From Foreign currency translation impacts, predominantly the appreciation oF the AUD against the NZD; and A 30.6 billion decrease From data reFinements. Non-credit RWA decreased by 34.5 billion. Key movements included: IRRBB RWA: A 34.8 billion decrease due to a reduction in the embedded loss component From lower long-term interest rates over the quarter and a net decrease in repricing and yield curve risk in line with underlying banking book positions; and Market RWA: A 30.3 billion increase driven by changes in interest rate risk positioning. The capital Floor RWA adjustment as at 30 June 2026 was 34.3 billion mainly From lower IRRBB RWA. Leverage ratio Third Quarter 2026 - Second Quarter 2026 The leverage ratio represents the percentage oF Tier 1 capital relative to the Exposure Measure 1 . The leverage ratio was 4.9% at 30 June 2026, down 13 basis points over the quarter and well above APRA's regulatory minimum requirement oF 3.5%. The decrease in the leverage ratio was due to higher total exposures mostly From higher lending and lower Tier 1 capital Following the payment oF the 2026 interim ordinary dividend. Liquidity Coverage Ratio (LCR) Westpac's average LCR For the quarter ended 30 June 2026 was 134% (31 March 2026: 132%), well above the regulatory minimum oF 100%. The increase in the ratio was due to lower average net cash outFlows. Net Stable Funding Ratio (NSFR) Westpac NSFR For the quarter ended 30 June 2026 was 111% (31 March 2026: 112%) and continues to be above the regulatory minimum oF 100%. The decrease For the quarter reFlects an increase in available stable Funding, driven by growth in customer deposits and an increase in wholesale Funding, more than oFFset by growth in customer lending. Regulatory Developments APRA has announced a number oF changes to banks' capital and liquidity requirements. In addition, the RBNZ has announced its decisions relating to its review oF key capital settings For deposit takers. Further details on these announcements are set out in the Capital Overview section. 1. As deFined under Attachment D oF APS 110: Capital Adequacy . GROUP STRUCTURE ‌APRA applies a tiered approach to measuring Westpac's capital adequacy 1 by assessing Financial strength at three levels: Level 1, comprising Westpac Banking Corporation and its subsidiary entities that have been approved by APRA as being part oF a single 'Extended Licensed Entity' (ELE) For the purposes oF measuring capital adequacy; Level 2, the consolidation oF Westpac Banking Corporation and all its subsidiary entities except those entities speciFically excluded by APRA regulations. The head oF the Level 2 group is Westpac Banking Corporation; and Level 3, the consolidation oF Westpac Banking Corporation and all its subsidiary entities. Unless otherwise speciFied, all quantitative disclosures in this report reFer to the prudential assessment oF Westpac's Financial strength on a Level 2 basis 2 . The Westpac Group The Following diagram shows the Level 3 conglomerate group and illustrates the diFFerent tiers oF regulatory consolidation. Level 1 Westpac Banking Corporation Offshore Branches and Extended Licensed Entities Level 2 Westpac New Zealand Limited Other Banking & Financial Entities Level 3 Funds Management, Non- Financial Operations, Special Purpose Entities and Insurance Accounting consolidation 3 The consolidated Financial statements incorporate the assets and liabilities oF all entities including structured entities controlled by Westpac. Westpac and its subsidiaries are reFerred to collectively as the 'Group'. The eFFects oF all transactions between entities in the Group are eliminated on consolidation. Control exists when the parent entity is exposed to, or has rights to, variable returns From its involvement with an entity, and has the ability to aFFect those returns through its power over that entity. Subsidiaries are Fully consolidated From the date on which control commences and they are no longer consolidated From the date that control ceases. Group entities excluded from the regulatory consolidation at Level 2 Regulatory consolidation at Level 2 covers the global operations oF Westpac and its subsidiary entities, including other controlled banking, securities and Financial entities, except For those entities involved in the Following business activities: Acting as manager, responsible entity, approved trustee, trustee or similar role in relation to Funds management; Non-Financial (commercial) operations; Special purpose entities to which assets have been transFerred in accordance with the requirements oF APS 120 Securitisation ; or Insurance. Retained earnings and equity investments in subsidiary entities excluded From the consolidation at Level 2 are deducted From capital, with the exception oF securitisation special purpose entities. APS 110 Capital Adequacy outlines the overall Framework adopted by APRA For the purpose oF assessing the capital adequacy oF an ADI. Impaired assets and provisions held in Level 3 entities are excluded From the tables in this report. ReFer to Note 29 and Consolidated Entity Disclosure Statement oF Westpac's 2025 Annual Report For Further details. Subsidiary banking entities Westpac New Zealand Limited (WNZL), a wholly owned subsidiary entity, is a registered bank incorporated in New Zealand and regulated by, among others, the Reserve Bank oF New Zealand (RBNZ) For prudential purposes. WNZL uses both A-IRB and Standardised methodologies For credit risk and the SMA For operational risk. Other subsidiary banking entities in the Group include Westpac Bank PNG Limited and Westpac Europe GMBH. For the purposes oF determining Westpac's capital adequacy, subsidiary banking entities are consolidated at Level 2. Customer operations Westpac is one oF Australia's leading providers oF banking and certain Financial services, operating under multiple brands in Australia and in New Zealand, with a small presence in Europe, North America, Asia and the PaciFic. Westpac provides banking products and services through its digital and online channels, supported by a branch and ATM network, contact centres and relationship and product managers. Restrictions and major impediments on the transfer of funds or regulatory capital within the Group Certain subsidiary banking and trustee entities are subject to speciFic and local prudential regulation in their own right, including local capital adequacy requirements. Westpac seeks to ensure that its subsidiary entities are adequately capitalised and adhere to regulatory requirements at all times. Dividends and capital are repatriated in line with the Group's policy subject to subsidiary Board approval and local regulations. Intra-group exposure limits Exposures to related entities are managed within the prudential limits prescribed by APRA in APS 222 Associations with Related Entities 1 . Westpac has an internal limit structure and approval process governing credit exposures to related entities. This limit structure and approval process, combined with APRA's prudential limits, is designed to reduce the potential For unacceptable contagion risk. Updates to large and related entity exposure limit calculations resulting From the changes to banks' capital requirements are outlined in the Capital Overview section. These changes are eFFective From 1 January 2027. 1. For the purposes oF APS 222, subsidiaries controlled by Westpac, other than subsidiaries that Form part oF the ELE, represent 'related entities'. Prudential and internal limits apply to intra-group exposures between the ELE and related entities, both on an individual and aggregate basis. CAPITAL OVERVIEW ‌Capital management strategy Westpac's capital management strategy is reviewed on an ongoing basis, including through an annual Internal Capital Adequacy Assessment Process (ICAAP). Key considerations include: Regulatory capital minimums together with the capital conservation buFFer and countercyclical capital buFFer comprise the total CET1 requirement. The total CET1 requirement is currently at least 10.25% and 10.50% eFFective 1 January 2027 1 ; Strategy, business mix and operations and contingency plans; Perspectives oF external stakeholders including rating agencies as well as equity and debt investors; and A stress testing Framework that tests our resilience under a range oF adverse economic scenarios. The Board has determined a target post dividend CET1 capital ratio oF above 11.25% in normal operating conditions. Regulatory developments APRA's phase out of AT1 capital as eligible bank capital On 4 December 2025, APRA published the Final changes to the relevant prudential and reporting standards resulting From the phase out oF AT1 with an eFFective date oF 1 January 2027. Under the revisions, large internationally active banks such as Westpac will replace 1.5% oF AT1 capital with 1.25% oF Tier 2 capital and 0.25% oF CET1 capital. The total CET1 requirement, including regulatory buFFers, will increase From 10.25% to 10.50%. There is no overall increase in total capital requirements For banks. On implementation oF these revised prudential and reporting standards, existing AT1 capital instruments would be included in the calculation oF the amount oF total capital, until their First scheduled call date. Existing Westpac AT1 capital instruments would reach their First scheduled optional redemption dates by 2031 at the latest. In addition, eFFective 1 January 2027 the minimum leverage ratio requirement will be 3.25% based on CET1 capital replacing the current requirement oF 3.50% based on Tier 1 capital. APS 221 Large Exposures and APS 222 Associations with Related Entities exposure limits remain unchanged, however these will be based on CET1 capital rather than Tier 1 capital. APRA consultation on enhancements to bank capital and liquidity frameworks On 16 March 2026, APRA announced that it will consult on a package oF reForms to bank capital and liquidity settings. The consultation will be run in three workstreams including the Following: Targeted amendments to the standardised capital Framework to increase risk sensitivity and better align capital requirements with underlying risk; Changes to the liquidity Framework including consideration oF a new Pillar 2 liquidity Framework to address risks not covered by existing Liquidity Coverage Ratio minimum requirements; Implementation oF a simpliFied version oF the Basel Committee's Fundamental Review oF the Trading Book standard. On 29 June 2026, APRA commenced consultation on reForms to credit risk capital requirements. The consultation includes proposed changes to lower standardised risk weights For large domestic public inFrastructure exposures, high-quality unrated corporate exposures and certain residential land acquisition, development and construction exposures. APRA intends to Finalise the credit risk capital changes in the second halF oF the 2026 calendar year, with a proposed eFFective date oF 1 April 2027. Consultation on the liquidity and market risk workstreams are expected to commence over the next 12 months. RBNZ capital review On 17 December 2025, the RBNZ announced its decisions relating to its review oF key capital settings For deposit takers (2025 Capital Review). Once implemented, the updated settings For Group 1 deposit takers 2 (including WNZL) will: Remove AT1 From the capital stack and phase out the recognition oF existing AT1 instruments; Require the deposit taker to have a Tier 1 capital ratio oF 12% (including a 6% prudential capital buFFer (PCB) ratio); Require the deposit taker to have a total capital ratio oF 15% (including the 6% PCB ratio). Up to 3% oF the total capital ratio requirement can consist oF subordinated debt eligible as Tier 2 capital to be issued to the Australian parent bank; Require the deposit taker to have an additional 6% oF RWAs oF Loss Absorbing Capacity (LAC) instruments to be issued to the Australian parent bank, bringing the total requirement including LAC to 21%; Noting that APRA may apply higher CET1 requirements For an individual ADI. New Zealand deposit takers with total assets oF NZ3100 billion or more. Introduce more granular and lower standardised risk weights For certain asset classes. On 18 June 2026, the RBNZ published consultations on an exposure draFt oF the Capital Standard under the Deposit Takers Act 2023 (DT Act) and policy proposals For the Crisis Preparedness Standard under the DT Act, including the new Tier 2 and LAC instrument design and Further inFormation on indicative implementation timelines. The new Tier 2 and LAC instruments will include write-oFF provisions. The RBNZ has indicated it intends to consult Further on the design and implementation timelines during 2027. The Capital Standard is expected to take eFFect on 1 December 2028, with phased implementation. On 28 July 2026, the RBNZ announced its decisions on changes to the Banking Prudential Requirements (BPRs), to implement some oF the decisions From the 2025 Review oF Key Capital Settings, and to come into eFFect From 1 October 2026. For domestic systemically important banks (including WNZL) these decisions include, as an interim measure, permitting the issuance oF Tier 2 instruments aFter 1 October 2026 and beFore 1 December 2028, with a shorter maturity date or earlier redemption date than would otherwise be permitted under the current settings. Additionally, the amortisation table For Tier 2 instruments does not apply to short-dated Tier 2 instruments. CAPITAL OVERVIEW OV1: Overview of Risk Weighted Assets (RWA) ‌This table presents an overview oF Westpac's RWA and minimum capital requirements by risk type and approach. RWA Minimum capital requirements Çm 30 June 2026 31 March 2026 31 December 2025 30 June 2026 1 Credit risk (excluding counterparty credit risk) 341,625 336,739 337,841 27,329 2 OF which: standardised approach (SA) 21,003 22,533 23,398 1,680 3 OF which: Foundation internal ratings-based (F-IRB) approach 34,565 33,191 32,220 2,765 4 OF which: supervisory slotting approach 13,528 12,620 12,832 1,082 5 OF which: advanced internal ratings-based (A-IRB) approach 272,529 268,395 269,391 21,802 6 Counterparty credit risk (CCR) 9,771 8,856 8,651 782 7 OF which: standardised approach For counterparty credit risk 8,635 7,822 7,744 691 9 OF which: other CCR 1,136 1,034 907 91 10 Credit valuation adjustment (CVA) 3,260 2,645 2,257 261 15 Settlement risk 40 13 20 3 16 Securitisation exposures in banking book 8,801 8,797 8,967 704 18 OF which: securitisation external ratings-based approach (SEC-ERBA) 3,831 4,107 3,968 306 19 OF which: securitisation standardised approach (SEC-SA) 4,970 4,690 4,999 398 20 Market risk 10,780 10,504 10,728 862 21 OF which: standardised approach (SA) 1,435 1,668 1,295 115 22 OF which: internal model approach (IMA) 9,345 8,836 9,433 747 AU20a a Interest rate risk in the banking book 42,310 47,088 38,663 3,385 24 Operational risk 43,663 43,701 43,726 3,493 25 Amounts below the thresholds for deduction (subject to 250% risk weight) - - - - 26 Output Floor applied 72.5% 72.5% 72.5% 27 Floor adjustment (beFore application oF transitional cap) - - - 28 Floor adjustment (after application of transitional cap) 4,261 - 1,519 342 29 Total (1 + 6 + 10 + 15 + 16 + 20 + AU20a + 24 + 25 + 28) 464,511 458,343 452,372 37,161 a. Line items with designations oF AU are APRA's speciFic amendments. Summary of Credit Risk ‌The Following table provides a summary oF credit risk and counterparty risks by asset classes to assist users oF the report as the inFormation is disaggregated across a number oF tables under current BCBS disclosure requirements. EAD post CRM and post CCF RWA Non-performing ECL Çm Credit risk Counterparty credit risk Total Credit risk Counterparty credit risk Total Exposures Accounting provisions As at 30 June 2026 Subject to A-IRB approach Corporate 190,730 5,243 195,973 97,464 1,711 99,175 2,450 691 Residential Mortgages 596,547 - 596,547 117,530 - 117,530 4,838 447 SME Retail 26,538 - 26,538 15,932 - 15,932 1,054 250 QualiFying Revolving Retail 13,921 - 13,921 3,635 - 3,635 94 36 Other Retail 1,800 - 1,800 2,285 - 2,285 52 25 Subject to F-IRB approach Large Corporate 46,493 3,362 49,855 22,976 1,200 24,176 119 71 Sovereign 152,538 3,889 156,427 1,845 203 2,048 - - Financial Institutions 25,754 23,991 49,745 9,744 6,192 15,936 44 9 Total IRB approach 1,054,321 36,485 1,090,806 271,411 9,306 280,717 8,651 1,529 Subject to Standardised approach Corporate 1,402 5,237 6,639 1,392 193 1,585 28 9 Residential Property 11,351 - 11,351 11,269 - 11,269 323 52 Other 3,374 - 3,374 1,998 - 1,998 30 15 Other assets 7,352 - 7,352 4,139 - 4,139 - - Total Standardised approach 23,479 5,237 28,716 18,798 193 18,991 381 76 Specialised Lending 8,327 372 8,699 6,199 272 6,471 59 44 RBNZ Regulated Entities 122,755 - 122,755 45,217 - 45,217 888 138 Securitisation 47,590 8,801 Settlement risk 18 40 Credit valuation adjustment 3,260 Total credit risk 1,208,882 42,094 1,298,584 341,625 9,771 363,497 9,979 1,787 As at 31 March 2026 Subject to A-IRB approach Corporate 184,930 4,394 189,324 93,537 1,549 95,086 2,451 667 Residential Mortgages 589,187 - 589,187 117,059 - 117,059 4,603 433 SME Retail 26,354 - 26,354 15,966 - 15,966 1,073 208 QualiFying Revolving Retail 14,013 - 14,013 3,711 - 3,711 97 37 Other Retail 1,831 - 1,831 2,331 - 2,331 65 39 Subject to F-IRB approach Large Corporate 43,822 3,176 46,998 21,491 1,218 22,709 139 83 Sovereign 155,545 3,480 159,025 1,868 174 2,042 - - Financial Institutions 26,538 22,550 49,088 9,832 5,464 15,296 48 10 Total IRB approach 1,042,220 33,600 1,075,820 265,795 8,405 274,200 8,476 1,477 Subject to Standardised approach Corporate 1,426 5,188 6,614 1,416 211 1,627 33 17 Residential Property 11,537 - 11,537 11,456 - 11,456 330 53 Other 3,278 - 3,278 1,871 - 1,871 21 8 Other assets 8,761 - 8,761 5,443 - 5,443 - - Total Standardised approach 25,002 5,188 30,190 20,186 211 20,397 384 78 Specialised Lending 6,924 307 7,231 5,216 240 5,456 57 44 RBNZ Regulated Entities 124,192 - 124,192 45,542 - 45,542 871 133 Securitisation 47,428 8,797 Settlement risk 4 13 Credit valuation adjustment 2,645 Total credit risk 1,198,338 39,095 1,284,865 336,739 8,856 357,050 9,788 1,732 CAPITAL OVERVIEW CMS1: Comparison of modelled and standardised RWA at risk level ‌This table provides a summary oF Westpac's risk weighted assets by risk type and measurement approach, and compares it to the output Floor calculated under the standardised approach. a b c d RWA RWA for modelled approaches that banks have supervisory approval Çm to use RWA for portfolios where standardised approaches are used Total Actual RWA (a + b) (ie RWA which banks report as current requirements) RWA calculated using full standardised approach (ie used in the base of the output floor) As at 30 June 2026 Credit risk (excluding counterparty credit risk) Counterparty credit risk Credit valuation adjustment Securitisation exposures in the banking book Market risk AU5a a Interest rate risk in the banking book Operational risk Residual RWA 320,622 9,577 21,003 194 341,625 9,771 549,523 24,638 3,260 3,260 3,260 -9,345 42,310 8,801 1,435 - 8,801 10,780 42,310 8,801 10,780 - 43,663 40 43,663 40 43,663 40 8 Total 381,854 78,396 460,250 640,705 Output Floor at 72.5% oF RWA calculated using Full standardised approach RWA prior to application oF Floor 464,511 460,250 Floor adjustment 4,261 As at 31 March 2026 1 Credit risk (excluding counterparty credit risk) 314,206 22,533 336,739 541,800 2 Counterparty credit risk 8,645 211 8,856 22,233 3 Credit valuation adjustment 2,645 2,645 2,645 4 Securitisation exposures in the banking book - 8,797 8,797 8,797 5 Market risk 8,836 1,668 10,504 10,504 AU5a a Interest rate risk in the banking book 47,088 - 47,088 - 6 Operational risk 43,701 43,701 43,701 7 Residual RWA 13 13 13 8 Total 378,775 79,568 458,343 629,693 Output Floor at 72.5% oF RWA calculated using Full standardised approach 456,527 RWA prior to application oF Floor 458,343 Floor adjustment - a. Line items with designations oF AU are APRA's speciFic amendments. OVERVIEW OTHER INFORMATION 15 RISK MANAGEMENT ‌RISK MANAGEMENT CREDIT RISK MANAGEMENT CR8: RWA Flow statements oF credit risk exposures under IRB LEVERAGE RATIO LR2: Leverage ratio common disclosure template FUNDING AND LIQUIDITY RISK MANAGEMENT LIQ1: Liquidity Coverage Ratio CREDIT RISK MANAGEMENT CR8: RWA flow statements of credit risk exposures under IRB ‌The Following table provides details on the drivers oF changes in credit RWA measured under the IRB approach. Quarter ended Çm 30 June 2026 31 March 2026 1 RWA as at end of previous reporting period 314,206 314,443 2 Asset size 6,102 5,212 3 Asset quality 1,564 (2,678) 4 Model updates - 500 5 Methodology and policy - - 6 Acquisitions and disposals - - 7 Foreign exchange movements (634) (1,779) 8 Other (616) (1,492) 9 RWA as at end of reporting period 320,622 314,206 OTHER INFORMATION 17 OVERVIEW RISK MANAGEMENT LEVERAGE RATIO LR2: Leverage ratio common disclosure template ‌The table below provides a detailed breakdown oF the components oF the leverage ratio denominator, as well as inFormation on the leverage ratio, minimum requirements and buFFers. Çm 30 June 2026 31 March 2026 31 December 2025 On-balance sheet exposures 1,161,312 5,062 (4,873) - -(15,343) 1,149,802 4,618 (3,916) - -(15,373) 1,125,672 4,315 (4,798) - -(15,334) 1 On-balance sheet exposures (excluding derivatives and securities Financing transactions (SFTs), but including collateral) 2 Gross-up For derivatives collateral provided where deducted From balance sheet assets pursuant to the operative accounting Framework 3 (Deductions oF receivable assets For cash variation margin provided in derivatives transactions) 4 (Adjustment For securities received under securities Financing transactions that are recognised as an asset) 5 (SpeciFic and general provisions associated with on-balance sheet exposures that are deducted From Tier 1 capital) 6 (Asset amounts deducted in determining Tier 1 capital and regulatory adjustments) 7 Total on-balance sheet exposures (excluding derivatives and SFTs) (sum of rows 1 to 6) 1,146,158 1,135,131 1,109,855 Derivative exposures 8 Replacement cost associated with all derivatives transactions (where applicable 11,270 9,782 6,443 net oF eligible cash variation margin, with bilateral netting and/or the speciFic treatment For client cleared derivatives) 9 Add-on amounts For potential Future exposure associated with all derivatives transactions 27,220 28,262 28,448 10 (Exempted central counterparty (CCP) leg oF client-cleared trade exposures) - - - 11 Adjusted eFFective notional amount oF written credit derivatives 9,743 1,658 2,354 12 (Adjusted eFFective notional oFFsets and add-on deductions For written credit derivatives) (9,743) (1,614) (2,354) 13 Total derivative exposures (sum of rows 8 to 12) 38,490 38,088 34,891 Securities financing transaction exposures 14 Gross SFT assets (with no recognition oF netting), aFter adjustment For sale accounting transactions 29,546 24,845 26,308 15 (Netted amounts oF cash payables and cash receivables oF gross SFT assets) (3,103) (2,857) (2,127) 16 Counterparty credit risk exposure For SFT assets 3,122 2,738 2,748 17 Agent transaction exposures - - - 18 Total securities financing transaction exposures (sum of rows 14 to 17) 29,565 24,726 26,929 Other off-balance sheet exposures 19 OFF-balance sheet exposure at gross notional amount 231,919 232,480 230,692 20 (Adjustments For conversion to credit equivalent amounts) (116,257) (116,236) (116,254) 21 (SpeciFic and general provisions associated with oFF-balance sheet exposures deducted in determining Tier 1 capital) - - - 22 Off-balance sheet items (sum of rows 19 to 21) 115,662 116,244 114,438 Capital and total exposures 23 Tier 1 capital 64,535 65,458 64,256 24 Total exposures (sum of rows 7, 13, 18 and 22) 1,329,875 1,314,189 1,286,113 Leverage ratio 25 Leverage ratio (including the impact oF any applicable temporary exemption oF central bank reserves) 4.85% 4.98% 5.00% 25a Leverage ratio (excluding the impact oF any applicable temporary exemption oF central bank reserves) 4.85% 4.98% 5.00% 26 National minimum leverage ratio requirement 3.50% 3.50% 3.50% 27 Applicable leverage buFFers - - - Disclosure of mean values 28 Mean value oF gross SFT assets, aFter adjustment For sale accounting 26,443 21,988 24,181 transactions and netted oF amounts oF associated cash payables and cash receivables 29 Quarter-end value oF gross SFT assets, aFter adjustment For sale accounting 33,474 23,474 21,587 transactions and netted oF amounts oF associated cash payables and cash receivables 30 Total exposures (including the impact oF any applicable temporary exemption 1,329,875 1,314,189 1,286,113 oF central bank reserves) incorporating mean values From row 28 oF gross SFT assets (aFter adjustment For sale accounting transactions and netted oF amounts oF associated cash payables and cash receivables) 30a Total exposures (excluding the impact oF any applicable temporary exemption 1,329,875 1,314,189 1,286,113 oF central bank reserves) incorporating mean values From row 28 oF gross SFT assets (aFter adjustment For sale accounting transactions and netted oF amounts oF associated cash payables and cash receivables) 31 Basel III leverage ratio (including the impact oF any applicable temporary 4.85% 4.98% 5.00% exemption oF central bank reserves) incorporating mean values From row 28 oF gross SFT assets (aFter adjustment For sale accounting transactions and netted oF amounts oF associated cash payables and cash receivables) 31a Basel III leverage ratio (excluding the impact oF any applicable temporary 4.85% 4.98% 5.00% exemption oF central bank reserves) incorporating mean values From row 28 oF gross SFT assets (aFter adjustment For sale accounting transactions and netted oF amounts oF associated cash payables and cash receivables) FUNDING AND LIQUIDITY RISK MANAGEMENT LIQ1: Liquidity Coverage Ratio ‌The Liquidity Coverage Ratio (LCR) measures a bank's ability to meet its liquidity needs under an acute liquidity stress scenario (prescribed by APRA), measured over a 30-day time Frame. LCR is calculated as high-quality liquid assets (HQLA) as a percentage oF net cash outFlows (NCO). The minimum regulatory requirement is 100%. Average LCR is calculated as a simple average oF the daily observations over the quarter. The number oF data points used is reported in the table. Westpac's average LCR For the quarter was 134% (31 March 2026: 132%). The increase in average LCR For the quarter ended 30 June 2026 reFlects lower average NCOs oF 31.1 billion, mainly due to reduction in wholesale Funding maturities compared to the prior quarter. Average liquid assets were higher driven by higher average short-term Funding balance, oFFset by wider average Funding gap and higher average collateral outFlows over the quarter. HQLA averaged 3178.6 billion (31 March 2026: 3178.0 billion), increase oF 30.6 billion or 0.3% over the quarter, comprising oF cash and balances with central banks, Australian government and semi-government bonds. Westpac also holds other liquid assets, mainly qualiFying RBNZ securities. Funding is sourced From retail, small business, corporate and institutional customer deposits and wholesale Funding. Westpac seeks to minimise the outFlows associated with this Funding by targeting customer deposits with lower LCR outFlow rates and actively manages the maturity proFile oF its wholesale Funding portFolio. 30 June 2026 31 March 2026 Total unweighted Çm value (average) Total weighted value (average) Total unweighted value (average) Total weighted value (average) Liquid assets, of which: High-quality liquid assets (HQLA) Alternative Liquid Assets (ALA) Reserve Bank oF New Zealand (RBNZ) securities Cash outflows Retail deposits and deposits From small business customers, oF which: Stable deposits Less stable deposits Unsecured wholesale Funding, oF which: Operational deposits (all counterparties) and deposits in networks oF cooperative banks Non-operational deposits (all counterparties) Unsecured debt Secured wholesale Funding Additional requirements, oF which: OutFlows related to derivative exposures and other collateral requirements OutFlows related to loss oF Funding on debt products Credit and liquidity Facilities Other contractual Funding obligations Other contingent Funding obligations 178,560 177,953 - - 4,924 5,190 410,164 34,388 404,399 33,799 214,310 10,716 209,225 10,461 195,854 23,672 195,174 23,338 176,741 76,023 177,808 77,392 78,584 19,563 80,520 20,051 87,897 46,200 86,956 47,009 10,260 10,260 10,332 10,332 1,326 532 203,412 33,053 207,776 37,935 14,961 14,125 18,536 17,781 229 229 1,453 1,453 188,222 18,699 187,787 18,701 11,185 7,808 10,017 7,016 75,536 6,016 69,507 5,415 16 Total Cash Outflows 158,614 162,089 Cash inflows 17 Secured lending (e.g. reverse repos) 20,976 83 18,004 - 18 InFlows From Fully perForming exposures 11,255 6,013 8,840 4,614 19 Other cash inFlows 15,117 15,117 18,992 18,992 20 Total Cash Inflows 47,348 21,213 45,836 23,606 Total adjusted value Total adjusted value 21 Total HQLA 183,484 183,143 22 Total net cash outflows 137,401 138,483 23 Liquidity Coverage Ratio (%) 134% 132% Number of data points used 62 64 OTHER INFORMATION 19 RISK MANAGEMENT OVERVIEW ‌OTHER INFORMATION MANAGEMENT'S DECLARATION APPENDICES Appendix I - Regulatory capital instruments GLOSSARY DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS MANAGEMENT'S DECLARATION ‌I hereby certiFy that the inFormation set out in the June 2026 Pillar 3 report has been prepared in accordance with Westpac's disclosure policy and complies with the requirements oF the Australian Prudential Standards, APS 330 Public Disclosure. Nathan Goonan ChieF Financial OFFicer Sydney 9 August 2026 ABN 33 007 457 141

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