ASX Release 7 N ovember 202 2 Pillar 3 Report as at 30 September 202 2 Westpac Banking Corporation (“Westpac”) today provides the attached Pillar 3 Report ( September 202 2 ). For further information: Hayden Cooper Andrew Bowden Group Head of Media Relations General Manager, Investor Relations 0402 393 619 0438 284 863 This document has been authorised for release by Tim Hartin , Company Secretary . Level 18, 275 Kent Street Sydney, NSW, 2000

SEPTEMBER 2022 INCORPORATING THE REQUIREMENTS OF APS330 WESTPAC BANKING CORPORATION ABN 33 007 457 141 Pillar 3 Report

P i l l ar 3 re port Tab l e of c o n t e nts 2 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport Structure of Pillar 3 report Executive summary 3 Introduction 6 Risk appetite and r isk t ypes 7 Controlling and m anaging r isk 8 Group structure 1 5 Capital o verview 1 7 Leverage ratio 2 2 Credit risk management 2 4 Credit risk exposu r es 3 4 Cr e d it risk mitigation 5 8 Counterparty credit risk 6 0 Securitisation 6 3 Market risk 7 3 Interest rate risk in the banking book 7 7 Operational risk 79 Equity risk 8 1 Funding and l iquidity risk management 8 3 Liquidity cover a ge ratio 8 4 Net stable fu n d ing ratio 8 5 Remuneration 8 7 Appendices Appendix I – Regulatory capital reconciliation 9 4 Appendix II – Entities included in r egulatory consolidation 10 0 Appendix I II – Level 3 entities’ asset s and liabilities 10 3 Appendix I V – Regulatory expecte d l oss 10 4 Appen dix V – APS330 quantitative requirements 10 5 Glossary 10 8 Disclosure regarding forward - looking statements 11 3 In this report references to ‘Westpac’, ‘Westpac Group’, ‘the Group’, ‘ we’, ‘us’ and ‘our’ are t o Westpac Banking Corporat i o n and its control led entities ( unless the context indicates otherwise). In this report, unless otherwise stated or the context otherwise requires, references to '$', 'AUD' or 'A$' are to Australian dolla rs. Any discrepancie s bet ween totals and sums of co m p o nents in tables con t ained in this report are due to rounding. In this report, unless otherwise stated, disclosures reflect the Australian Prudential Regulation Authority ’s (A PRA ) implementation of Basel III. Information c ontai ned in or accessible throu g h the websites men tio n ed 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. All references in this report to websites are inactiv e tex tual references and are fo r i nformation only .

P ill ar 3 r ep o r t E xec u ti ve s um mar y W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 3 K e y capital ratios 30 September 2022 31 March 2022 30 September 2021 Level 2 Regulatory capital structure Common equity Tier 1 capital after deductions $m 53,943 52,126 53,808 Risk weighted assets $m 477,620 459,956 436,650 Common equity Tier 1 capital ratio % 11.29 11.33 12.32 Additional Tier 1 capital ratio % 2.10 2.08 2.33 Tier 1 capital ratio % 13.39 13.41 14.65 Tier 2 capital % 5.01 4.30 4.21 Total regulatory capital ratio % 18.40 17.71 18.86 APRA leverage ratio % 5.61 5.60 5.99 Level 1 Regulatory capital structure Common equity Tier 1 capital after deductions $m 50,722 48,684 54,314 Risk weighted assets $m 447,010 433,643 431,422 Level 1 Common equity Tier 1 capital ratio % 11.35 11.23 12.59 Common equity Ti e r 1 capital ratio movement for Second Ha lf 2022 (basis points) Westpac’s Level 2 CET1 capital ratio was 11.29% at 30 September 2022 , 4bps lower than 31 March 2022. Key movements in the CET1 cap i tal ratio over the half were: • Second Half 2022 cash earnings of $3,467 million, excluding notable items (73bps increase); • Divestment benefit s (1 8 bps increase) mostly from the sale of our Australian Life Insurance business ; offs et by • Paym ent of the 2022 inter i m dividend (45bps decrease); • An increase in RWA, (38bps decrease) mostly from higher interest rate risk in the banking book (IRRBB) RWA due to a higher regulatory embedded loss from increased market interest rates (36bp s dec rease). Wh ile exposure at defau l t increased 3% over the half, the impact on RWA was largely offset by improvements in credit metrics ; • Capital deductions and other capital move ments ( 9 bps decrease) mostly from a higher deduction fo r ca p italised software (7bps decreas e ) and capitali sed expenditure (3bps decrease) and lower other comprehensive income from the revaluation of debt sec uritie s (3bps decrease ) . These were partly offset by remeasurement of the defi ned benefit superannuation obligation (5bps increase); and • Foreign currenc y i mpacts of ( 3 bp s decrease ) 1 fro m the depreciation of the A $ against the US$ partly offset by the appre ciation o f the A$ against the NZ$ . 1 R e f lectin g th e ne t i m pact of m ovements in the fo reign c ur rency tr anslation r es erve a n d R WA .

P i l l a r 3 r ep o r t E xecuti v e s u m ma r y 4 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport Exposure a t De f ault Expo sure at default (EAD) i n creased $ 30 .2 billion ov er the half pr imarily due to : • A $17 .0 bil l ion increase in corporat e exposures from higher lending and derivatives ; • A $ 11 . 0 bill i o n incr ease in residential mortgages exposures ; and • A $3.1 b illio n increase in sover eign exposure s due to an increase in liquid assets . R is k Weighted Assets (RWA) $m 30 September 2022 31 March 2022 30 September 2021 Risk weighted assets at Level 2 Credit risk 362,098 359,673 357,295 Market risk 9,290 9,596 6,662 Operational risk 59,063 57,875 55,875 Interest rate risk in the banking book 42,782 27,710 11,446 Other 4,387 5,102 5,372 Total RWA 477,620 459,956 436,650 Total Exposure at Default 1,214,041 1,183,812 1,153,186 T otal RWA increa sed $ 1 7.7 billion o r 3.8% o ver the half with most of the increase in non - credit RWA. Non - credit risk RWA were $15.2 billion higher, mainly from a $15. 1 billion incr ease in IRRBB RWA over the half. The increase in IRRBB RWA was mainly due to a higher regul atory embedded loss from in creased market interest rates. A regulatory e m bedded loss occurs as We stpac’s equity is invested over a three - year investment horizon, com pared to the regulatory investment term of one year. The $2.4 billion incre ase in credit r isk R W A included: • A $4.7 bi llion increase from higher lending mostly acr o ss residential mortgages , corporate and business le nding partly offset by lower lending in o ther retail; • A $1.3 billion increase associated with derivative exposures ( counterparty cr edit r isk and mark - to - marke t related credit risk) primarily due to increases in the mark - to - market value of derivatives from higher foreign currency translation effects ; • A $0.5 billion increa s e in foreign cu rrency translation impacts mostly from the depre ciation of the A$ against the U S$; partly offset by • A $4.1 billion net decrease from movements in risk weightings. This includes an $8.2 billion decrease from the impact of improved credit metrics for mortga ges and corporate lending, and imp lementation of a revised model for business lending. This reductio n was partly offset by our application of the mortgage risk weight floor of 25% which resulted in a $4. 1 billion increase in RWAs over the half . A dditiona l Tier 1 an d Tier 2 Ca pital m o ve me nts f o r First H alf 20 2 2 On 20 July 2022, Westpac issued $1.51 billion of Additional Tier 1 c apital (Westpac Capital Notes 9), of which approximately $ 0 .69 billion comprised reinvestment by holders of Westpac Capital Notes 2 (WCN 2). O n 23 September 202 2, W estpac redeeme d approxi mately $0.62 billion WCN 2 that remained on issue. The net impact of these t ransactions was an incr ease in Tier 1 capital of a p p roximately 4bps. On 2 December 2021, APRA announced a requirement for d omestic s ystemically i mportant b an k s (D - SIBs) (including Westpac) to incre ase their tota l capital requirement by 4.5 percentage points of RWA under the current capital adequacy framework to be met by 1 January 2026. The addi t ional total capital is expected to be met through additional Tier 2 Cap ital 1 . During the half, Westpac i s sued JPY 26 bi llion, US$1.0 billion an d SGD 450m of Tier 2 capital instruments. West pac also redeemed JPY 12 billion, JPY 13.5 billion, HKD 600 milli o n a nd SGD 325 million of Tier 2 c apital instruments. The net impa ct was an increase in the total regulato r y capital rati o of approximately 33bps . T his will assist Westpac to meet APRA’s revised requirements. L everage R a tio The leverage rat io rep rese nts the amo u nt of Tie r 1 cap it al rela t i v e to exposure 2 . At 3 0 Septe mb er 20 22 , Westpac’s l e verag e ratio was 5. 6 1 %, up 1 bp sin ce 3 1 March 202 2 due to an increase i n Tier 1 capital, partly offse t by higher on balance shee t expos u res . 1 I n our funding, this increase in total capital is likely to be offset b y a decrease in long - te rm w holesale funding. 2 As defin ed u n de r A tta c hm e nt D o f AP S1 10: C apit al A d e q uacy.

P ill ar 3 r ep o r t E xec u ti ve s um mar y W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 5 Liqui d i ty Co v e r ag e Ra t io ( L CR) Wes t pac’s avera ge LCR fo r the q uarter ending 3 0 September 20 22 was 1 32 % ( 3 1 March 202 2 : 137 % ). N et S t a ble F unding R atio (NSFR) Westpa c had an NSFR of 1 2 1 % 1 as at 3 0 September 20 22 ( 3 1 March 202 2 : 125 % ). 1 Ca l cu la ted as to t a l ava i l a ble s tab le f und in g di v i ded by t ot a l re q u i red s tab le f un d i n g as at e n d o f t he qu a r t er .

Pi l lar 3 r ep or t I nt ro d u c t i on 6 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport West p ac Ba nkin g C o r por ation is a n A u tho ri se d D e posit - tak ing Institution (ADI) subject to regul ation by APR A. APRA has accre di ted West pac to a pply ad v an c ed m od els pe r m itted by the Basel III g lobal capital adequac y reg im e to the m ea s u r eme n t of its r egul atory cap i tal r equi r e m e n ts. Westpac u se s the A dv a nc e d Interna l R atings - Based approach (Adva nced IRB ) for credit r i sk and t h e Stand ardised Meas urem en t A pp r o a c h ( SMA ) for o p erational risk 1 . I n acco r d ance with APS33 0 P ublic D i sc losure, fi n an c i a l in stituti ons that hav e received t h e Adva nced IRB a c cre dit atio n, such a s W est p a c, are required to disclose prudential inf ormati on about their r isk manag ement p ractic e s o n a s em i - ann ua l basis . A subset of this information m u st be dis closed quarter l y . T h is r eport des c r ibe s We stpa c ’s risk m a n a ge ment pra ct ic es and pr esen ts the p r ude nti a l a s sessment of Westpac’s capital adequacy as at 30 Septem ber 202 2 . In ad dition to t his r e p ort, the re gu l ato r y d isc losures section o f the Westpac w ebs ite 2 co ntains the repo r t i ng re q uirem e n ts for: ⚫ Cap i t al instrum e n ts un der Attach me nt B o f A PS330; a n d ⚫ The i d en t ification of potential Global - Systemica lly Im po rtant B anks (G - S IB) und er Att achme nt H o f APS 330 (di sc l ose d a n nua lly). Capital in s tr uments disclo sur es are updated wh en: ⚫ A n e w cap i tal i n s tru ment is i s sued that w i ll fo rm p art of r eg u lat ory capit a l ; or ⚫ A c a pi t al instrument is redeemed, converted in to C ET 1 capital , writt en off, o r its terms and c o ndit ions ar e c han g ed . 1 F rom 1 J anuar y 2022 , Westpac has a d o pted th e Standard is ed Mea surement A p p roa ch ( SMA) to Opera tio nal Ri sk C apital as perm i t ted by Prud ential Sta n da rd APS 115 Cap ital Ad e quacy : S ta ndardised Measurement Approach to Op era ti o nal R i s k . 2 h tt p://www.w estp ac.com .au/abo u t - w est p a c /inv e sto r - cent r e /f i n a n cia l - i n f or m ation / r eg u lat o ry - disc l o s u r e s /

Pil lar 3 rep or t Ri s k a pp e t i t e an d risk t yp e s W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 7 Westpac’s appeti t e for risk is i nf ormed by our st rat egic o b j ec tiv e s and b usi ness pl a n s , regulat o ry rule s an d rati os , a nd th e pote nt i a l for a d ve r se outcomes that may result in material imp a cts on ou r customers , o ur staf f, our rep u t a t io n , our regu la to ry r e la t io nships and /or our fi nancial pos it ion includ ing the po ten ti a l fo r c a pital a nd liqu idi t y ratio s to fa ll be low target l ev e l s in stres se d scenari o s . Westpac distinguishes be tween di fferen t ty pes of risk and t akes an in tegrat ed a p p r o ach toward id en t i fyin g , a ss e ssing , and managing risks . The annual revi ew of W estp ac ’s R i s k Man a gement Fr amew ork , w hich i nclu de s t he Ris k Mana ge me n t S tra tegy and Board R isk Appetite Statement , to get her with the es t a blis h m e n t and moni toring of key con tro l s t hro u gh suppor ting fra m e w o rk s and policie s all p lay vital r oles. O vervi ew of k ey ri s k ty p e s ⚫ ris k cultu re – t h e r i s k th a t our cu l tu re doe s not pr om o te and rei n force behav iour al expectations or struct ures to identi f y , und e r st an d , discu s s and act on ris k s . P oor ris k cultu re ca n lead t o ine ffe c ti v e r i s k ma na gement, p oor ri sk awareness, risk - ta ki ng o uts ide o f r is k a p p et ite tha t i s t o ler a t e d a nd a cu lt u re w here key l ea rn i ngs ar e no t integrated int o Group - wide and custom er outcom e s, impe d ing c o n ti nu o us impr o ve me n t; ⚫ strategi c r i sk – t h e ris k tha t W e st p a c m a k e s inappropriate str ategic choices, does no t impl e ment its s t r a t e gi es succe ss full y, o r does n ot r es p on d effe c tivel y to cha ng e s i n the operati ng e nvironment ; ⚫ capital ad eq uacy ri s k – the risk th at We s tp ac h as a n in ade quate le v e l o r c o mpositio n of c a pi t a l t o s u ppor t its normal business ac t iv ities and to mee t i ts r e gu l a t o r y capital r e quir e me n t s unde r nor ma l o pe rati n g env ir on m ent s o r st r essed co ndi tion s ; ⚫ funding and liquidi ty risk – the ris k that W es t pac c an no t m e e t i ts payment o b lig a t i o ns or th a t it d oe s n o t h a v e th e appropriate amount, tenor and comp osition of fun d in g a n d l iquidity t o su p po r t it s a s sets ; ⚫ c re di t ri s k – t he r i sk of fina n cial loss whe re a customer o r co unterp ar ty fai l s to mee t thei r fi n anc ia l o b lig a t i on s to We stpa c ; ⚫ m a r k et risk – t he r i s k of a n a d v ers e impact on e arning s r esult ing fro m changes in the value o f We stpac ’ s positi on s as a r esult o f a ch a ng e i n fi n a nc ia l ma rke t facto rs, such as foreign exchange rate s , in ter e st rates, commod i t y pr ic e s a n d e q u it y pr i ce s . Th is includes interest rate risk in the banking book , which is the risk of loss in earnings or ec onomic va lue in the banking book as a co nsequence of movements in interest rates ; ⚫ ope rat i onal risk – the r i s k o f l o ss r e s ulti ng f rom i n a de q uat e or fail ed in t e rn a l p r o c es s es , p eo p le and system s or f rom exte rnal ev e n ts. Th e de finit ion exclude s s tr ate g ic r isk. Whi le l e ga l ris k a nd r e gu l a t o ry ris k a rise th rough i nadequate or failed p r oces ses, pe op le , and s y stems o r f ro m e x t e r n a l e ve nt s, th e s e are re fl ec t ed p rim a r i ly i n co m plia n c e and co n d uc t risk ; ⚫ cybe r r isk – the ri sk that W estp ac o r its third par ties ’ da t a or tech nol og y a r e in a ppr o p ri a t el y acce sse d, ma n i pulated , or d a m a ged from cyber security thr eats or vulner abi l i t i es ; ⚫ co m p l i anc e an d con d u c t r i s k – t h e ris k of f ail i ng t o a bid e by c o mpliance obli gat ion s r equir ed of u s o r oth e rwise fa ili ng to have be hav iour s and pract i ces t h at del ive r su i t ab le , fa ir , and cl ear ou tcomes f o r ou r customers and that su pp ort m a rket i nte g r it y ; ⚫ r ep u t a tion a l an d s u s t a ina bi li t y risk − the ris k of failing to recognis e or address environmental, social or governance (ESG) issues and the risk tha t an ac t ion , inaction, tra nsac ti on, investment , o r event will reduc e trust in Westp ac’s i ntegri ty and c ompetence b y clie nt s, counte rpa rties, inv e s t ors , re gulator s, employee s , or the public ; and ⚫ fi nanci a l c ri me r i sk – the risk that Westpac fa i ls to pr e v ent f inan cial c rime and co mply with a pplicable glob al fin ancial crime r e gu lato ry obl iga tions .

P il la r 3 re p or t C o n tro l l i n g and m a n aging r isk 8 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport We have a d o pt ed and co n tinue t o emb ed a Th ree Lines o f Defence model which enab l es all our people to und erstand their own role s and responsibilit i es i n the active ma n agement of ris k . We ha ve put in place a risk ma nagement framework that s e eks to : ⚫ achieve our purpo se of helping A ust ra li a n s and N ew Zeal anders s u cceed; ⚫ deli ver fair ou tco me s for our c ustomers an d counterparties th at s upport market integrit y ; ⚫ pro tect West p ac’s depositor s and inv es to rs by maintaining a balance sheet wit h s oun d credit qualit y and buffer s over r eg ula tory minimums ; ⚫ mana g e r isk within appetite; ⚫ s ee k appropriate reward f or risk we take aligned to our purpose, values and be haviour s ; and ⚫ m eet o u r re gulator y and statutory o bligati o ns. The Gro up Risk Management Fra mework , Group Risk M anagement S t rateg y an d Board Risk App etite S tat ement are r eviewed a nn ua lly by the Board Risk Committee . The re view of the Risk Management F ramework inclu d es con siderati on of whet h e r the framework contin ues to be so und, and that Westpac is operating with d u e regard to risk ap pe tite . T he Group Risk M a nag ement Fram e work, Gro up R isk Management Strateg y and Board Ris k Appetite Statement were appro ved by the Boa r d, on the reco mme ndation o f the Board Ris k Commi ttee , during the 12 months to 3 0 September 2 0 2 2 . Risk man a gement gov e r nan ce s tr uc ture as at 30 Sept em be r 2 02 2 B oa rd ⚫ appr oves the Group Risk Man agement Framework , Group R isk Man a gement Strategy and Boa rd Risk Appeti te Statemen t and monit ors the effectiv eness o f risk management b y Westpac ; ⚫ f o rms a v ie w of We stpac’ s risk cul ture an d oversees the i dentific ation of, an d step s ta ken , to address any c hanges to r isk culture; a n d ⚫ m ake s an annual de c lar a tion to APRA o n r i sk ma nageme n t in ac cordance with regul a t ory req u i r e m e nts . Boar d Ris k Commi tt ee ( BR isk C ) A ssi st s the Bo ard to : ⚫ consider a nd approve Westpac’s overall risk f ram ework for managin g financi a l and n on - financial ris k s ; ⚫ o vers ee risk cult u re across We st pac ; ⚫ overse e Westpac ’ s risk profile and set risk appetite f o r material risks ; ⚫ review an d appro ve the G roup Risk Ma nage ment Frame work , Group Risk Management St rategy a n d Boa r d R isk Appetite Stateme n t ; ⚫ make i ts annual d eclarati on to APRA on risk manage me nt un de r APRA pr ude ntial sta n d ard CP S 22 0 Risk Manage ment . T h e Committee is also res ponsible for: ⚫ review ing and monito ri ng Westpac ’s risk p rofile and contro ls for consist e n c y with the Board Risk Ap p et i te S tatem ent ; ⚫ revi e w ing and appr ov ing other risk m anage m en t frameworks and mo nitor ing per f o rmance u nd er thos e fram e w orks (as appropria t e ) and reviewing a nd ap proving key sup p orting pol icies ; ⚫ ov ersee in g and approv i ng the Group ' s Recover y Plan ; ⚫ reviewing an d approving the li mi ts and c o nditions that apply to th e delegated cred i t risk and market risk a p proval autho rities ; ⚫ monito r ing changes anticipated f or the econ o mic and bus ine s s envir onm ent inc luding consi de ration of emergi n g r i s ks and o ther f ac to rs cons ide r ed releva nt to our ris k pro f ile a nd risk appetite ; ⚫ r ev iewing and wh ere appropriate appro ving risks beyond t he appr o val di s cretion provided to mana g ement ; and ⚫ oversee ing mate r ial le gal an d regul a tory change re lev an t to W est pac a nd the m anagement of materia l litigation and regulatory i nvestigations and associat e d remediation activ ities .

P i ll ar 3 re por t Co nt r olling a nd manag ing r i s k W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 9 Risk m anage men t g overnance s t r u c t ure (conti nue d) Fr o m the p er spective o f speci f ic t y p e s o f ri s k, th e BRiskC ’ s role in clu des : ⚫ credit risk – re v iewing an d approving the Grou p C redit Risk Management Fram e work , Credit Risk Management Strategy, Cred it Ri sk Appetite S tat ement and material po licies an d limits s up p orting the Gr oup Cred i t Ris k Man a geme nt Fram ework, approvin g credit provis ioni ng levels , a nd monito ring t he risk profil e , pe rformance , and managemen t of our credit portfolio ; ⚫ funding and liqui dity risk – revie w ing and ap proving the Group Liquidity Risk Management Framework and k ey polici es an d limit s suppor ti ng that framework , including ou r an n ual fundi n g st rat e gy, recover y a nd resolution plans , liqu i d ity targ e ts and limits , and monit o ring the liquidity posi tio n and requirements ; ⚫ capital a dequac y risk – rev iew ing and a p p ro ving t he Group Ca pit al Adequacy Risk Ma nagement Frame work and k ey poli ci e s and lim its s u pporting that f ra mework , overseeing an d app r oving the I nt ernal Capital A dequacy Assessme nt Proce s s (ICAA P ) and in doin g so, review ing and recommendi ng target c apital ra nges f or Board appro val (where appropriate) and reviewing and mo nitor ing capital l evels for consiste nc y w ith the Board Risk Appetit e Statement ; ⚫ market ri sk – reviewi n g and a pp ro v ing the Group M ar ket Risk Management Frame work and ke y pol ic ies and l imits sup p o rti n g that framewo rk , and reviewing Westpac ’ s trading and non - trading m arket ris k profiles and their re spective expo sure against l imits ; ⚫ operatio nal risk – reviewin g and approvin g the Group O pe rational Risk Management Framework and ke y policies sup por tin g tha t framework, a n d monitorin g the performan ce of operation al r isk man a gement an d c ontrols ; ⚫ cyber ri s k – reviewing a n d app roving t he Group Cyber Risk M anagement Fra mework and key policies su p porting that fram ework, and m onitoring West pac ’ s cyber risk man ageme n t and controls ; ⚫ fin ancia l c r i me risk – re vie w ing an d a pp roving the Group Fi n anc ial C r i me Ri sk Ma n ag eme n t Fram ew ork a nd key s u p por ting p ol i ci es , and m o nitor i ng West pac ’ s fi nanc ial cri m e r i sk profile an d c ontro l s ; ⚫ com plianc e a nd con duc t risk – r ev iew in g and a ppro v ing th e Group Co m plia nce and Condu ct Risk Mana geme n t Framewo r k a n d key supporting polici es , and revie w ing and monitori n g West p a c's compliance ri s k per forma nce an d c ontrols. ⚫ ri s k c u lture – reviewing and approving t he Group R isk Culture Fra mew o r k , mo n itorin g the as sociated me asurement and m anagement of this risk , for m i ng a vie w on Westpac’s risk c u lture and the extent to wh i ch it supports our ab ility to operate consistently within th e Group Risk Management Framework and Board Risk Appetite Statem ent , a nd oversee ing the identification of, and steps taken to address, an y desirabl e changes to risk c u l t ure ; a nd ⚫ reputation al and s us tainability ris k – revie wing and ap provin g the Grou p R eput a tion a n d Sus ta in ability Risk Ma nagement Fra mework s and monito ri ng th e associa ted ma nagement of thes e risk s . The Board Risk Commit t ee a l so: ⚫ r evi e ws Westpac ’ s Group s t ress testing results, monit ors management response and provides recommendations for fut u re scenarios ; ⚫ pro vides re levant p e riodic a s s urances and reports (as app ropriate) to th e B oard Audi t Com mittee ; ⚫ refers o r recommend s to t h e Boar d a nd any other Board C o m m it tees (a s appropriate) a n y matter s t h a t h ave c o m e to th e attenti on of t h e Board R i s k C ommit te e that are relevant for t he Board or t he r e spec tive Boar d C ommittee ; an d ⚫ in its capacit y a s the W estpac Group’s U S Ri sk Committee , o v er s ees the key r is ks, ris k m ana gemen t fram e work and po l ic ies of W e s t pac ’s US o pera t io n s.

P il la r 3 re p or t C o n tro l l i n g and m a n aging r isk 10 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport Ris k m an a g ement gove r n anc e s t ruc t u re ( contin ued) Board Commit tee s wit h a Ris k Foc us Boa r d A udit Com m i ttee ( B A C) Ass ist s the Board by overseein g the : ⚫ integ rity o f financial statement s and f in a n cia l rep orting s ystems of W estpac a nd its related bodies corporate ; ⚫ exter n al audit engagement, in clu ding t h e ex te rnal a udito r’ s qualifications, p erform a nce, in depen dence a nd fees ; ⚫ performan ce of the intern a l audit function; a nd ⚫ i n teg rity of th e Group’s cor porate repor ti ng inclu din g Westpac ’ s financial re portin g and compliance with p rud e ntial regula tory reporting and profe ssional account ing require me nts . B o ard R e m u ne r ation Committee (BR em C ) Assists the Board by reviewing and r ecomme ndi ng: ⚫ the remuneratio n fra mework as articulated in the Group Remuneration Policy; ⚫ remuneration arra n gements and variable remunera tion outcomes and adjustme nts in accordance w ith the Group Remune ration Policy; ⚫ the remuneration arrangements and out c omes o f e mployees of the Wes t pac Group in accordance with the Group Remuneration Polic y; ⚫ corporate goals a n d objectives relevant to the remun eration o f the CEO; a nd ⚫ the design and t erms of any equity - b ased plans including plan rules and any applicable pe r fo rman ce hurdles. Executi v e T eam Westpac Ex e cutive Team (ET) ⚫ execute s the Boar d - appr oved str ate gy; ⚫ deli vers Westpac’ s v a ri ous s t ra t egic and per f o r m a nce g oa l s withi n th e a ppro ved risk appetit e; and ⚫ e n dors e climate c hange and hum an r ights posi t io n statem e nts fo r a pproval by the Bo ar d. All other p o sition s tatements on sus t ainability issues are a pproved by the CEO . Ex e cu tive r i s k c om m ittees W es tp ac G roup Executi ve R i s k Committee ( RISKCO ) ⚫ inform s the CEO , C hief R isk Officer and ot her a ccountabl e individual s in makin g risk - related decisions in respect of the Group ; ⚫ informs a ttendees in ma k ing m a terial d e cisions in their area of re s ponsi bili ty, wi th due considerati on of Westpac ’ s ris k profile and r isk culture; ⚫ reviews and provides i npu t on W estpa c ’ s Risk Man a gement Fr amework and Risk Management S trategy for a pproval by the Board ; ⚫ ove rs ees t h e implementati on and performance o f the R i sk Ma nagement F r a me work a nd t h e R isk Managem ent S t rate g y as well as required cont rols and actions ; ⚫ revi ews a nd m o nito r s ri sk cla s s risk man agement fram e works and key suppo r ting poli ci es , as required ; ⚫ reviews and p rovides input o n the Board Ris k Appet ite S t ateme nt for app roval by the Board , oversees the implementation of t he Boa rd Risk Appetite Statement a nd mo ni tors West p a c’s r is k p r of ile aga inst its risk appetite measures and thresh olds ; ⚫ monitors the Group ’ s ris k culture , its a li gnment to risk appetite a n d rel ated acti o ns ; ⚫ analys es emerg ing risk s and over s ees t he ade quac y of Westpac ’ s response ; and ⚫ reviews th e metho d ology , scenario s and outc ome s of , ann ual s tress t est i ng , material risk mo d els and risk measure me n t methodo logi es , including i m pact s on capita l adequ a cy and th e G r oup’s R e co very Pl an .

P i ll ar 3 re por t Co nt r olling a nd manag ing r i s k W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 11 Risk m anagem e nt g o v er nan c e st ru ctu r e (continue d) Wes tpac Group As set & Li ab ility C o mm i t tee ( A LC O) ⚫ f ac i litates t he opti misation of fu nding and liqu idit y risk - r ewa rd across W estpa c ; ⚫ rev iew s the le v e l and q u ali t y of c a pit al to e nsu re t hat i t is commen surat e w it h W estpac ’s r isk p ro f i le , b usin e ss strategy an d r i sk appetite; ⚫ oversees t he Liquidi t y R isk Ma nag e me n t Framewo rk , Cap ital Ade q uacy Ri sk M anag ement Fr amework and ke y supp orting poli c i e s; ⚫ oversee s the f und ing an d l i q u idity r is k p rofi l e an d ba lance s he e t risk p rof i le ; and ⚫ id entifi es emerging funding and l iqui dit y risks an d ove rse es a ctions t o respond as a pp r opriate . Westp ac Group Credit Risk Committ ee ( CREDCO ) ⚫ review s and provi des input on the C r edit Risk Manag e men t Framewo r k , Cr ed it R is k Man agemen t S tr ategy , Credit R i sk App etite Statement, and key supporting pol icie s a nd limits ; ⚫ oversees W e stpa c’s c red it risk p rof ile ; ⚫ reviews reporting fr om the Climate C hange Fi n anc ial Ri sk Committee, which is c haired by the G roup Chi ef Credit O fficer a n d identifies a nd manages the potential im pact on cre d it exposures fr om climate - re l ated tran si ti o n and p h ysical r i sks ; an d ⚫ identi fies emerging cr edit risks and fac ilitates strategic a nd business developments . W e s t pac Group Mar k et Ris k Com m ittee (MAR C O ) ⚫ rev iews and pro vides input on th e M ark et Ri sk Mana ge me nt F ramew or k and key m a rke t r isk m a n age me nt pol ic i e s ; ⚫ review s a nd provides input on poli cies and l imits for managing tra ded a n d no n - trade d m arket ris k; and ⚫ m o n itors We s tpac ’ s marke t r i sk profi l e , appe t ite and exposur es . Westpac Grou p Opera tio nal Risk, C ompli a nce and Resili ence Comm it tee ( ORC R ) ⚫ r e view s a n d provide s input on th e O per ational Risk Man agem ent Fr amewor k , the Cyber Risk Man a g ement Fr amewor k and th e Comp li ance a n d C on duct R is k Man ag em en t Fr a m ework , and key suppo rt ing pol ici es ; ⚫ oversee s We s tp ac’s oper a t ional ri sk , c yber risk , a nd con d uc t and c omp l iance ris k profile s ; a n d ⚫ analyses e merging oper a tional, cyber, c ond u ct and com pl i a nc e r isk s .

P il la r 3 re p or t C o n tro l l i n g and m a n aging r isk 12 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport R isk ma nag e m e n t governa nce struct u re ( cont inu ed ) W e s t pac G roup Re mun e ration Oversight Commi ttee ( ROC) ⚫ suppor ts the CEO, B R em C and t he Board by revi ew ing a nd ap p ro vin g r e muner atio n framew o r ks , guideli nes a nd shor t ter m varia b le re ward pl an s underpinn i n g th e Bo a r d - ap p r o v e d Westpac G roup Rem u n era tio n P ol ic y ; ⚫ assist s the B R em C a nd the Board in ful f illi ng their r espo n sibi l it y t o oversee We st pac ’ s r e mune r a t i o n pol i c i e s and prac ti ces , i n t he con text tha t the se pol icies a nd practices fa irly and re s ponsib l y rew ard in d i vidual s ha ving re g ard to custom er and s h are h o lder i nter ests, lo n g t er m f inan cial soundne s s an d prude n t ri s k ma n ag eme n t; ⚫ recomm e n d s to t he CE O f o r recommenda t ion to t h e BR em C rem unerat i on arra nge ment s in cluding re muneration r eview and r e munera tio n adjustm e n t out c om es for Re sponsible Per s on s , r i s k an d financ ial control e mployees , Ma t erial Ri sk T aker s and o t her i ndiv i du als whose act i v it i e s ma y i mpa c t t h e financi a l soundne s s of We stp ac bel o w the G rou p Ex ec ut i ve lev el ; and ⚫ recomme n ds to the CEO f or recommend a t ion to t he BR em C th e criteria and r a ti o na le f o r deter min i ng the t o tal quantum of Westpac’s vari a ble re w ard p ool . Mode l Risk Co m m itt e e ⚫ re views a n d recommends the Group Mo d el R i sk Policy and key model risk management poli c ies for app rova l ; ⚫ r e views and monitor s m o del ri sk and material m odels ac ross We stpac ; and ⚫ rev iews and monitors d esign quali ty and operat ing e ffectiv eness of mate ri al m o dels . Stre ss Te sting C o m mi ttee ⚫ r e view s a n d provides inpu t on the Group Capital Str e ss Testi ng P olicy ; ⚫ revi ews and monitor s t he effec tivenes s of West pac ’ s Gr oup str es s - testing f r amewor k; ⚫ o versees the generation a nd se lect i on of Gr oup stres s testing sce n arios; and ⚫ con si ders em erg i ng risks with re spec t to Group st ress tes t ing scenar ios and overse e s the adequ acy of the response . W es tpac Group F inan ci al Cr i me Ri sk Comm it t e e ⚫ reviews and pro vides input on the Group ’ s Finan cia l Crime risk appetite measu res f or inclusion in t he B o ard R i sk Appeti te Sta tement ; ⚫ reviews a nd provide s input on the Fin ancial Crim e Risk Manag ement Framew or k , k ey supp o r tin g polic i es , pr ogram s and s tan dards; ⚫ revi ews regu lar reporting o n Westpac ’ s ag gre gat e Financ ial Crime risk expo sure s and issues ; a n d ⚫ analyses e m er g ing fi na nc ia l c r ime ri sks dev elopments and implications of changes i n the r egulatory a nd exte r n al environment .

P i ll ar 3 re por t Co nt r olling a nd manag ing r i s k W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 13 Risk manag emen t gover na nce struct u re (continu ed) Risk fun ction Ris k Fu nct i o n ⚫ p r omotes a strong ris k c ult ur e; ⚫ o w n s the de sign a nd co nten t o f the Risk Manag e me nt F ramewo r k; ⚫ define s t he struct u re a nd co v erag e of r i s k app etite; ⚫ defines t h e ann ual Risk Ma nagement Strate gy t o execute th e Risk Mana gement Framework e nsu r ing that t he ma n ag em e nt of r i sks is in alig nment wi t h ris k appetite an d busin e ss str ategy; ⚫ estab l is he s risk polic ie s, p r o c edures a n d lim it s ; ⚫ me asu r es an d repor ts on risk levels; and ⚫ prov i des o versi ght of and d ir ec tion on th e mana gemen t of risks , including Compliance and Con duct and Fi n ancial Crime risks . Indep end e nt inter n a l rev i ew G ro up A u d i t ⚫ provides indepen dent assurance to the Board, rele vant Board Comm ittees and Senior Management on the adequacy and effecti v e ness of the Group ’ s gov e rna nce , risk ma nagement and intern a l controls . Divisiona l bu s i n ess unit s a nd Fu nctio ns B us ine s s U nit s and Func tions ⚫ re s p ons ible for i denti fyin g, eva l u at ing and ma naging t h e ri sks t hat they orig ina t e within a pprov e d ri sk appe t i t e and po licie s; an d ⚫ es t ab l is h and ma inta i n appr opriat e gover nance struc tures, co n t r ols, res o ur ces a nd se lf - a sse ss m ent pr oces s e s , inc lu ding issue identi fica t ion , recording and es calation procedures .

P illar 3 r ep ort C on t r o l l in g a n d m a n ag i ng ri sk 14 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport Rol e s and r espon s i bilities We have adopted and con tin ue to e mbed a Three Lin es of Defence m o d el wh ic h enables a l l ou r peopl e to underst a nd their own role s an d r esponsibilities i n t he act i ve management o f ris k . T he 1 st L in e of Defence – m anage s the ris ks they or i ginate The 1 st Line pro actively identifies, e val uates, o wns , monitors, manage s an d controls t he risk s in t h eir bu si ne ss. It a ls o seeks to e nsure that business activitie s a re within approved risk appe tite and policies . I n managing it s ri sk, the 1 st L ine i s requ ire d to estab l ish an d ma inta in approp riate gov ernance stru c t ur es, co nt rol s, resources , a nd self - asse s s ment p ro ce sses, i n cl uding issue identificat ion, recording and e s ca lation procedure s. Th e 2 n d L ine of Defen ce – p r ovi des o v ers ig ht of 1 s t Line ac t i vitie s The 2 nd Line se ts frameworks (includ in g p olicies and lim its ), and st a n d ards fo r use acr o ss the Group a nd ca n requ ire re mediation or cess ation of activit y whe r e t h e s e are no t adher ed t o . Their appr oa ch is ri sk - bas e d and proporti onate to 1 s t Line activities. The 2 nd L ine also review s a n d c h all en ge s 1 st L ine ac tiv iti e s an d de c i s i ons t h at may ma t eria lly a f fect Wes t pa c’s r is k posit ion, a nd ind e p end e ntly ev al u a te s th e ef f e c tivenes s of th e 1 s t Line’s cont ro ls, mon itori ng , c ompliance an d risk man a gement . T h e 2 nd L ine p rovide s ins ight to t h e 1 s t Line , ass ist ing in d e v e l o p i n g, main t a i n ing , an d enha nci n g the B u s ines s ’ app roa c h to risk m anageme n t and conside rs and re ports the a g g regated r isk p rofi l e of the Gro u p, providing en d - to - end oversi ght of ris k (whil st maintain ing a ppropriate transparenc y a nd over si ght of disa ggre gat ed risks) . T h e 3 r d L in e of De fe n ce – p rovides inde penden t , obje ctive ass uran ce Group A u di t is We st p ac ’ s i n t e rnal 3 r d Li n e as s u r an ce funct ion that provide s the Board and Senior E x ecutive s wi th ind epend ent a nd objecti ve evalu a tion of t he ad equacy and e ffe c tiveness of th e G rou p ’ s g o ver na nce, risk mana ge m en t a nd internal contr ol s .

P i llar 3 r e port Gr oup Stru c tu re W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 15 APR A appl ies a t ier ed ap p roac h t o m easuri n g We s tpa c ’s c a p ital a dequ acy 1 by a sse s s ing financial strengt h at thre e le vels: ⚫ Le v el 1, comprising Westp ac B anking Co r pora ti on and it s su b sid iary e n ti ti es tha t have be en approved by A PR A as b ein g part of a s i ng le 'Ext ended License d E nt i ty ' (EL E ) for the p u r p os e s o f mea s u ring c apit al adequa cy; ⚫ L evel 2, the c onsolida ti on of W es tp ac Banki n g Corporation and all its subsidiar y ent it ies excep t th o se entiti e s sp eci fic al ly excl ud ed by APRA reg ul a tions . T he head of th e L evel 2 group is West pac B a nk i ng C o r p ora tion ; a n d ⚫ L eve l 3, t h e co n s olid ation of Wes t p ac B anking Co rporatio n and all i ts subsidi a ry entities . Unless ot her w ise speci f ied, a ll quanti t a ti v e d isclos u re s in thi s report re fer to the pru de n tial ass essment of We s tp ac’s fi nancia l stren gth o n a Leve l 2 ba sis 2 . R efer to A p pendix II for a list of entities included in regul atory con solidation for the purposes of measuri n g capital adeq uacy at Lev e l 1 and Le vel 2 . T h e W e stpa c Gr o u p The foll owing dia gra m sho w s the Lev el 3 c ongl ome rate g ro up and i l lu str ates t h e differe n t ti ers o f regulato r y consoli dati o n. Level 1 Consolidation Level 2 Consolidation Level 3 Consolidation Regulatory non - consolidated subsidiaries Westpac New Zealand Ltd Other Westpac Level 2 subsidiaries Westpac Banking Corporation Westpac Level 1 subsidiaries Acco un ting co n so lida tio n 3 The consolidate d fina ncial statements in co r porate th e ass ets and l ia b ili ties of a l l su b s id i arie s ( i n c lud ing str uctured e nti t i es ) controlle d by We stp ac. Westp ac and its su bsid iari e s are refer red t o co l lectively as the ‘G roup ’ . T he effe ct s of al l t rans act ions be tween entit i es in the Group are e l im in a ted on co nsoli dation . Con t r ol exis ts w h e n t h e p a rent ent it y i s e xpose d to, or ha s rig h ts to , v ariab le ret urns fr om i ts invol v em ent with a n entity, and h as t h e abili ty to affect tho s e r eturns th rough i t s powe r o ver tha t entity. S u bsidi aries are fully c on so l idated fr om th e date o n w h i ch cont rol c o mme n c es and t hey a re no longe r con s olida t ed f r om the d ate t hat co ntro l c ease s. Group en titi es e x c l uded from the regu l atory c on s olidation at L eve l 2 Reg ul atory c o ns olid ati on at L evel 2 cove r s the global operatio n s of Westpac a nd it s subsid iar y en titie s, i n c lud i n g o ther con tr oll ed banki ng, s e curit i es a n d financ ial e nti tie s, e xce pt f or those en titi es i n v o lved in t he fo llow i ng busi ne s s activities: ⚫ ins urance; ⚫ a cting a s m anag er, respon sible entit y , app roved trustee, t r us te e or simil ar ro le in re lat i o n to fu nds m a nag e m en t ; ⚫ non - fi na nci al (comm ercia l ) ope r atio n s; or ⚫ sp ecial pu rpo se e nti ties to whic h a sset s ha v e been tran sferr ed i n accord an c e with the re q uir ements of APS 1 20 Se curi tis ation. R etained ea r nings and equity inve s tm en t s in subs idiar y entiti es e x cl uded from t he c o ns o lidat ion a t L eve l 2 a re de d ucted from capital , w ith th e e xcep tio n of securit i sa tion spe c i a l purpose enti ties . 1 A PS1 1 0 C a pita l A deq uac y o u t l i nes the ove r a l l fr am ew or k adopted b y A PRA f o r t he p ur pos e o f a s s e s s i n g th e capit al adeq u ac y o f an A D I . 2 I m p a i r e d a s s e t s a n d p rovisions hel d in L evel 3 e nt i tie s a re e x clu de d fr o m t h e t abl es i n t h is re p o rt . 3 R efer to N o t e 3 0 o f Wes t p a c ’ s 20 2 2 Ann u al R e p o r t for f u r the r d et ai ls .

P il la r 3 re p or t G rou p s tr u c t u r e 16 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport Subs id i ary banking e n tit ies Wes tp ac Ne w Z ea land Li mited ( WNZL), a wh o lly o wned subsidiary e nt it y , is a re giste red bank in c o rp orate d in N ew Z e al a nd an d r eg ula ted by t he Re s erve B ank o f New Ze aland (R BNZ ) . W NZL use s the Ad v an ced IRB a p p roach for cred it r i sk and has transitioned to th e SMA for oper a tio nal ris k from 1 July 202 2 . Othe r s ub sidi ary bank in g entities i n th e Group include We st pac Bank P NG Limited an d Wes t p ac Euro pe L i m ited . F o r the purpose s o f det erm in i ng We s tpa c ’ s capita l ade q u acy subs i d i ary banking e nt itie s ar e consolid ated at Lev e l 2. Re st r ictions and m a jor impedi me nts o n t he tra nsf er of f unds or reg ulat ory capit al wit hin th e Gro up M i nimum capital ( ‘th i n c apita lisa t i on’) ru l es Ta x legisl ati on in mo st juris d ict i o n s in wh ich t h e Gro up o p e r ates prescri b es min imum levels of capital th a t must be retained in t h at jurisdi ct ion t o a vo id a po rtion o f the inter est costs inc urred in t he juri sdic t ion ceasing t o be t a x deduc tibl e . Cap i ta l for these pu rpo ses i ncl ud e s bot h co n t r ibuted capit a l and non - d i stributed re t ai ned earn ings. West pac seeks t o mainta in sufficient ca p ita l/retai ne d ear ni n gs in these enti ties to com ply w it h these rul e s. Tax costs as sociat e d with repat riation Repat ri ati o n o f ret aine d earn i n g s (and capital ) m ay re sul t i n tax b e i n g payab le in e ither the ju r isdiction fr o m whic h th e repatria tion occurs or Aust ra l ia on receipt of the rel ev ant a m o u nt s. T his cos t w ould reduce the amount a ctu ally r e pa triat ed. I ntra - group ex po sur e li mits Expo s u res t o r elate d entiti es are m ana ge d with i n t h e prude nt ial l imits pres cr i bed by APRA i n APS 2 22 A ssociation s with Rela t ed Enti ti e s 1 . Westpac h a s a n inter na l lim i t st ruct ure and ap proval proc e ss governing cr edit e x po sures to r elated entiti es . T h i s limit str u c ture a n d appr oval pro ces s, co mbi ne d with A P R A ’ s prud en tial limits , is d e signed to re d uc e th e po tential fo r unaccepta b le cont ag i on risk. Prudential regulation o f subsidiary en t ities On 23 M a rch 2021, the R BNZ issued two notices to WNZL under section 95 of the Res erve Bank of New Zealand Act 1989 ( N Z ) requiri ng WNZL to supply two external reviews to the RBNZ (the Risk Governance Review and the Liquidity Review). T hese reviews o n ly appl y to WN Z L and not to We stpac in Australia or its New Zealand branch. The Risk Go vernance Revi ew related to the effe c t iveness o f WNZL’s risk gov ernance, with a focus on the role played by the WNZL Board . The Risk Governance Review was completed in N ovember 2021. W NZL has a progr amme of work underway to addre ss the issues raised . This i s being overs een by the WNZL Board. T he Liquid ity Review relate d to the effectiveness of WNZL’s actions to improve liquidit y risk management and the asso ciated risk cu l ture . The Liqu i dity Revie w was completed in May 2022. Recomm endations for improvement ar ising from th e review will be imple m e nted as p art of WNZL’s con tinuous improvement activity. From 31 March 2021, the RBNZ a mended WNZL’s conditions of re gistration, re q uiring WNZL to discount t he va lue of its liquid assets by ap proximately 14% . From 1 5 Aug ust 2022 , the RBNZ red uced the over l a y to appr oximately 7% , which at 3 0 September 2022 was NZ$1.5 billion . The overlay wil l remain in place until the R BNZ is satisfie d that control assurance has b ee n completed. 1 F o r the p u rp os es of AP S 222, s ubs i d i ar i e s c o n t r oll e d by W estpac, ot h e r t ha n s u b s idi a r i e s th a t fo rm p art of the E LE, repres ent ‘re lat e d e n ti ties’ . P ru d e n t i a l a n d int er na l l i mits a p p l y to intra - g r ou p e x p o s u r es b e t w e en th e ELE and r e l a t ed ent i t ies , b ot h on a n i n dividua l a nd aggr ega t e basi s.

P i l la r 3 re port Cap i ta l ov e r v ie w W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 17 Capita l Structure This table s h ows Wes tpac’s capita l re so ur ce s on a Level 2 b asis un de r A PS111 Capi tal Adeq uac y : Measuremen t o f Capital . 30 September 31 March 30 September $m 2022 2022 2021 Common equity Tier 1 capital Paid up ordinary capital 39,666 39,667 41,601 Treasury shares (712) (708) (663) Equity based remuneration 1,843 1,824 1,753 Foreign currency translation reserve (537) (445) (266) Accumulated other comprehensive income 28 183 402 Non-controlling interests - other 57 54 57 Retained earnings 29,063 28,362 28,813 Less retained earnings in life and general insurance, funds management and securitisation entities (300) (1,144) (1,118) Deferred fees 300 265 238 Total common equity Tier 1 capital 69,408 68,058 70,817 Deductions from common equity Tier 1 capital Goodwill (excluding funds management entities) (7,914) (7,935) (8,060) Deferred tax assets (1,746) (1,812) (2,429) Goodwill in life and general insurance, funds management and securitisation entities (204) (209) (209) Capitalised expenditure (2,148) (2,013) (1,951) Capitalised software (2,263) (1,914) (1,840) Investments in subsidiaries not consolidated for regulatory purposes (316) (1,541) (2,044) Regulatory expected loss in excess of eligible provisions 1 (144) (164) (225) Defined benefit superannuation fund surplus (219) (60) (64) Equity investments (187) (161) (163) Regulatory adjustments to fair value positions (324) (123) (24) Total deductions from common equity Tier 1 capital (15,465) (15,932) (17,009) Total common equity Tier 1 capital after deductions 53,943 52,126 53,808 Additional Tier 1 capital Basel III complying instruments 10,021 9,566 10,180 Total Additional Tier 1 capital 10,021 9,566 10,180 Deductions from Additional Tier 1 capital Holdings of own and other financial institutions Additional Tier 1 capital instruments (25) (25) (25) Total deductions from Additional Tier 1 capital (25) (25) (25) Net Addititional Tier 1 regulatory capital 9,996 9,541 10,155 Net Tier 1 regulatory capital 63,939 61,667 63,963 Tier 2 capital Basel III complying instruments 23,791 20,147 18,228 Basel III transitional instruments - - 487 Eligible general reserve for credit loss 411 158 51 Total Tier 2 capital 24,202 20,305 18,766 Deductions from Tier 2 capital Investments in subsidiaries not consolidated for regulatory purposes - (60) (140) Holdings of own and other financial institutions Tier 2 capital instruments (243) (445) (221) Total deductions from Tier 2 capital (243) (505) (361) Net Tier 2 regulatory capital 23,959 19,800 18,405 Total regulatory capital 87,898 81,467 82,368 1 A n e x p l a n a t i on o f the relatio n sh i p b e t w e e n t h is d e d u c t io n , r e gul a tory expec te d l oss and provis io n s fo r i mpai r men t c h a r g e s i s c ont ai ne d i n Appen d i x I V .

Pi ll a r 3 r e p or t Cap it al o v e r vi e w 18 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport C api tal man a ge men t strate gy W estpac evaluates i ts approach to capital m anage ment through an Intern al Capital Adeq uacy Assessment Proces s (ICAAP), the key features of wh ich include: • The devel o p ment of a capital management strategy, including consideration of regulato ry minimu ms, capi ta l buffe rs and cont ingency plans. The curre nt re gulatory capita l minim ums together wi th the capital conserv ation buffer (C CB) are the Total CET1 Requirement. The T o tal CET1 Requirement for Westpac is at least 8.0%, based on an industry mi nimum CET 1 requir em ent of 4.5% plus a capital buffe r of at le ast 3 .5% applicable to D - SI Bs 1 , 2 ; • Consider ation of regulatory ca pital requireme nts and the perspe ctives of external sta k e holders i ncluding rating agencies as well as equity and debt investors; an d • A str ess testin g framewo rk that cha llenges the ca p ital meas ures, coverage and r equirem ents including the impact of adverse economic scenar ios. From 1 Janu ary 2023, APRA’s revised c apital fr amework, including updated prudential standards for capital adequacy and credit risk capital, becomes effective. As part of the rev ised framework, APRA has set a Total CET1 Requirement for D - SIBs of 10.25%. This requireme nt includes a CCB of 4.7 5 % applicab le to D - SIBs and a base level for the countercyclical capital buffer of 1.0%. APRA has also indicated that it expects that D - SIBs ( including Westpac) will likely operate with a CET1 capital ratio above 11% in normal operati ng conditions under th e n e w framewo rk. Westpac will seek to operate with a CET1 capital ratio of between 11.0% and 11.5% (operating capital range) in normal operating conditions as measured under the new capital framework from 1 January 2023. 1 Noting tha t A P RA may ap ply higher CET1 req uirements for an indi vidual ADI. 2 If a n ADI’s CET1 ratio fal l s bel o w the Total CET1 Requirement (at l east 8% ), i t faces r est rictions on the distrib ution of e arnin gs, such as d i v idend s , distribution paymen t s on AT1 capital i n s t r uments an d discretionary sta ff bonuse s.

P i l la r 3 re port Cap i ta l ov e r v ie w W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 19 W es tp ac ’s ca p i ta l a de q u a cy r a t i os % 30 September 2022 31 March 2022 30 September 2021 The Westpac Group at Level 2 Common equity Tier 1 capital ratio 11.3 11.3 12.3 Additional Tier 1 capital 2.1 2.1 2.3 Tier 1 capital ratio 13.4 13.4 14.6 Tier 2 capital 5.0 4.3 4.2 Total regulatory capital ratio 18.4 17.7 18.9 The Westpac Group at Level 1 Common equity Tier 1 capital ratio 11.3 11.2 12.6 Additional Tier 1 capital 2.2 2.2 2.3 Tier 1 capital ratio 13.6 13.4 14.9 Tier 2 capital 5.4 4.7 4.3 Total regulatory capital ratio 19.0 18.1 19.2 Wes tpac New Z e a land Lim i t ed’s cap i ta l ade qu acy r atios % 30 September 2022 31 March 2022 30 September 2021 Westpac New Zealand Limited Common equity Tier 1 capital ratio 11.0 11.3 13.8 Additional Tier 1 capital 2.0 2.0 2.8 Tier 1 capital ratio 13.0 13.3 16.6 Tier 2 capital 0.9 1.2 2.0 Total regulatory capital ratio 13.9 14.5 18.6

Pi ll a r 3 r e p or t Cap it al o v e r vi e w 20 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport C apital r equir ements Thi s tab le show s ri s k we i gh ted a s sets and asso ci ated capit al re qu irem e nts 1 fo r ea ch r i sk typ e in c l u ded i n t h e re gulato r y ass ess me nt of Westpa c’ s c a p it a l adeq u acy . We st p ac ’s approach to mana g i ng t hese ri sks , and m o re d e tailed discl o s u res on the prude ntial a sse ssmen t of ca pita l r eq u ir eme n t s , are pre sent ed in the fo l l owi ng sec t ions of thi s r e p or t . R e fer t o the E xecut ive summa ry for furthe r comment ary on RW A m ove m e nts over t he Second Half 2022 . 2 3 4 30 September 2022 IRB Standardised Total Risk Total Capital $m Approach Approach 2 Weighted Assets Required 1 Credit risk Corporate 72,688 880 73,568 5,885 Business lending 30,541 738 31,279 2,502 Sovereign 2,335 1,689 4,024 322 Bank 4,609 84 4,693 375 Residential mortgages 149,208 2,885 152,093 12,167 Australian credit cards 3,917 - 3,917 313 Other retail 6,726 717 7,443 595 Small business 13,991 - 13,991 1,119 Specialised lending 57,338 428 57,766 4,621 Securitisation 6,947 - 6,947 556 Mark-to-market related credit risk 3 - 6,377 6,377 510 Total 348,300 13,798 362,098 28,965 Market risk 9,290 743 Operational risk 59,063 4,725 Interest rate risk in the banking book 42,782 3,423 Other assets 4 4,387 351 Total 477,620 38,207 31 March 2022 IRB Standardised Total Risk Total Capital $m Approach Approach 2 Weighted Assets Required 1 Credit risk Corporate 69,391 870 70,261 5,621 Business lending 32,686 687 33,373 2,670 Sovereign 2,270 1,393 3,663 293 Bank 4,960 91 5,051 404 Residential mortgages 146,448 3,276 149,724 11,978 Australian credit cards 3,951 - 3,951 316 Other retail 7,785 753 8,538 683 Small business 14,401 - 14,401 1,152 Specialised lending 58,334 380 58,714 4,697 Securitisation 6,306 - 6,306 504 Mark-to-market related credit risk 3 - 5,691 5,691 455 Total 346,532 13,141 359,673 28,773 Market risk 9,596 768 Operational risk 57,875 4,630 Interest rate risk in the banking book 27,710 2,217 Other assets 4 5,102 408 Total 459,956 36,796 1 T o t al c a pi t al re q u ire d is c al cu lated a s 8% of t o tal r i s k w e i ghte d a s se t s . 2 W e s tpac ’s s t a n dardi se d r i sk w e ighte d asse ts ar e ca t e gori se d b a se d o n t he i r equiva l en t I R B cate g or ie s. 3 Ma r k - t o - m a r k e t r e lat ed c r e d i t r i s k i s me a s u r ed un d er the stand ar d is e d a p pr o a c h . I t i s a ls o k n o wn as C r e di t Valuatio n A d jus t m ent ( C V A ) r i sk. 4 O th e r a s se t s inc lu d e c a sh it em s, u nset t led t r a nsac tio ns , fi x e d as se t s a nd o t h e r n o n - intere s t ea r n i n g as s et s.

P i l la r 3 re port Cap i ta l ov e r v ie w W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 21 1 2 3 4 30 September 2021 IRB Standardised Total Risk Total Capital $m Approach Approach 2 Weighted Assets Required 1 Credit risk Corporate 68,715 870 69,585 5,567 Business lending 32,559 699 33,258 2,661 Sovereign 2,508 1,312 3,820 306 Bank 5,104 135 5,239 419 Residential mortgages 145,534 3,731 149,265 11,941 Australian credit cards 4,001 - 4,001 320 Other retail 8,272 763 9,035 723 Small business 15,187 - 15,187 1,215 Specialised lending 55,372 374 55,746 4,460 Securitisation 5,881 - 5,881 470 Mark-to-market related credit risk 3 - 6,278 6,278 502 Total 343,133 14,162 357,295 28,584 Market risk 6,662 533 Operational risk 55,875 4,470 Interest rate risk in the banking book 11,446 916 Other assets 4 5,372 430 Total 436,650 34,933 1 To ta l c a pit a l r e qu i re d i s c a l c u la t e d a s 8% o f to t al ri sk we ighte d a ss e ts . 2 W e s t p ac ’s s t a nd a rd i s ed ri sk w ei gh ted asse t s a re c a tegor i s e d b a sed on t he i r e q ui v a lent I R B c a tegor ie s. 3 Mar k - to - m a r ket rel at e d c r e dit ri s k i s m e a s u r ed under th e s ta n d a r dise d a pp roach . I t i s a l s o k no w n a s Cr e d i t Va l u a ti o n A d j u s tm e nt (C VA) r isk. 4 Ot h er a ss e t s i nc lu d e c as h i t e ms, u ns e t tl ed transac t io n s, f i xed a s s e t s a nd o th e r n o n - i n te r e st e ar n in g asset s.

P i l la r 3 repo r t Le ve r age r a t io 22 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport Leverag e ratio The f o ll owi ng ta b l e s u mm ar ises We st pa c’s l ev erage r atio. This ha s b ee n determi ned u s ing AP R A ’ s de f initi on o f t he le v er a ge rat io as s p e ci fi ed in A PS 110 Ca p it al A dequac y. $ billion 30 September 2022 30 June 2022 31 March 2022 31 December 2021 Tier 1 Capital 63.9 61.1 61.7 63.6 Total Exposures 1,140.3 1,140.4 1,101.4 1,096.7 Leverage ratio 5.6% 5.4% 5.6% 5.8% Leve r a g e r a t i o di sclo s u re $m 30 September 2022 On-balance sheet exposures 1 On-balance sheet items (excluding derivatives and securities financing transactions (SFTs), but including collateral) 963,925 2 (Asset amounts deducted in determining Tier 1 capital) (15,465) 3 Total on-balance sheet exposures (excluding derivatives and SFTs) (sum of rows 1 and 2) 948,460 Derivative exposures 4 Replacement cost associated with all derivatives transactions (i.e. net of eligible cash variation margin) 12,332 5 Add-on amounts for potential future credit exposure (PFCE) associated with all derivatives transactions 18,432 6 4,587 7 (Deductions of receivables assets for cash variation margin provided in derivatives transactions) (9,915) 8 (Exempted central counterparty (CCP) leg of client-cleared trade exposures) - 9 Adjusted effective notional amount of written credit derivatives 4,315 10 (Adjusted effective notional offsets and add-on deductions for written credit derivatives) (4,315) 11 Total derivative exposures (sum of rows 4 to 10) 25,436 SFT exposures 12 Gross SFT assets (with no recognition of netting), after adjusting for sales accounting transactions 50,245 13 (Netted amounts of cash payables and cash receivables of gross SFT assets) - 14 Counterparty credit risk exposure for SFT assets 15,281 15 Agent transaction exposures - 16 Total SFT exposures (sum of rows 12 to 15) 65,526 Other off-balance sheet exposures 17 Off-balance sheet exposure at gross notional amount 210,421 18 (Adjustments for conversion to credit equivalent amounts) (109,526) 19 Other off-balance sheet exposures (sum of rows 17 and 18) 100,895 Capital and total exposures 20 Tier 1 Capital 63,939 21 Total exposures (sum of rows 3, 11, 16 and 19) 1,140,317 Leverage ratio % 22 Leverage ratio 5.61% Gross-up for derivatives collateral provided where deducted from the balance sheet assets pursuant to the Australian Accounting Standards

Pil lar 3 re po r t L ev e ra ge rat io W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 23 Summ ary c o m p arison of account in g a ssets versus l evera ge rati o exp osure meas u re $m 30 September 2022 1 Total consolidated assets as per published financial statements 1,014,198 2 (9) 3 - 4 Adjustments for derivative financial instruments (15,840) 5 Adjustment for SFTs (i.e. repos and similar secured lending) 56,538 6 100,895 7 Other adjustments (15,465) 8 Leverage ratio exposure 1,140,317 Adjustment for off-balance sheet exposures (i.e. conversion to credit equivalent amounts of off-balance sheet exposures) Adjustment for investments in banking, financial, insurance or commercial entities that are consolidated for accounting purposes but outside the scope of regulatory consolidation Adjustment for assets held on the balance sheet in a fiduciary capacity pursuant to the Australian Accounting Standards but excluded from the leverage ratio exposure measure

P i l lar 3 r eport C r e dit ris k manage m en t 24 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport Cr edit risk is th e p o t ential f or fina nc ial l o ss w here a cu st o m e r or counter party f ail s t o m eet t hei r finan c ial obliga tion s to West pac . W es t pac m ain ta i ns a cr edit r i s k m a n age men t fra m ework and a n umb er o f su pporting p ol i ci es, pr ocess es an d controls go v ern in g the a sses s ment, ap p r oval and manage me nt of cus t omer an d co u n t erparty cred it ri sk . T hes e i nco rp ora t e the a ssi g nment of r is k grade s, the q u antif ica ti o n o f lo ss e st i m a te s in the even t of defaul t , and t he seg mentatio n of cr edit e xposu re s. S tructure a nd org an is ation The C hief Ri s k Officer (C RO ) is resp o nsi b le fo r th e e f f ectiveness o f ove ra ll ris k m ana ge men t throu g hou t Westp ac, in cluding credi t r isk. The G r ou p C hi ef C re d i t O f f ice r i s res p onsible fo r t he ef fe ctiv eness of c re d it ris k manag em ent , includin g c r edi t ap prova l de c ision i ng b eyond bu siness au thori t y l e vel a nd a pp o i n ting our mos t sen io r a uth o ri sed c red i t offi c ers . Autho rise d office rs have del eg ate d a ut ho r i t y t o a pp rov e c r edit risk exposure s, i n cl udin g custom er r i sk gra de s, ot he r c r edit para m et e rs an d their o ng o ing r e vi e w . Our la rgest e xp osure s ar e appr ov ed b y o ur most expe rienc ed autho r is ed cr edi t of fi c e rs j ointly wit h the mos t seni or busin ess m anager s . L i n e b u sines s m a na g emen t is responsible f o r ma na ging c r ed it ri s ks o ri gi nat ed in thei r b us i ne s s a nd for m a na g in g ris k ad j usted r e turns f r o m thei r b u sines s cr e d it port folios, withi n the app ro v ed r isk app et i te , r isk ma nage ment fra m ework an d pol i ci e s . Cred i t ri s k ma n ageme nt f ra m ewor k and policies We s tp ac m ainta i n s a cre d it r is k man ag eme nt fr ame wo r k a nd su pport i n g p ol icies tha t are de s igned t o clearl y d e fine ro le s and res ponsibil ities , accepta bl e p ra ctic es, l i mi t s and ke y co ntrol s. T he Cr e di t Ris k M a n a gemen t F ra m e wor k desc rib e s t he p r i nciples, methodo l og ie s, syst e m s, role s and r es pon si bil ities , r ep o rt s an d contr o l s t ha t exi s t f o r manag i ng cred i t risk in W estpa c. T h e Cr edit Risk Ra ting Sy stem po li c y de scri bes t h e c re dit ri sk r ating sy s tem p h il o soph y , d e s ign, k ey f e a tur e s , ro les and resp onsibilities and u s es o f ra t i ng outcomes. Co n cent ration r i sk poli c ies co ve r i nd ivi dual cou nt e rp a rti es , spe ci f i c i ndust r ies ( e.g. , p rope rty) an d in div id ual count r i e s . In add itio n , we h ave pol i ci e s co v er ing ri sk a p peti te sta temen ts, e n v ir o nm e nta l, s o c i al a nd go vern ance ( ESG ) r is k , cre di t risks and the deleg ation o f cr edit a pprov al au th o ri ties. At t h e d ivi si o n al l e v el , c redi t policies an d standards em b ed t h e Gr ou p’s fra m e w ork requ i re m ents for applicat io n in li n e s of b usi n ess es. P olici es a nd s t a ndards c ov e r the o rigi na tio n, e valuation , a ppr o val, d o cumentation , se ttlem ent and o n - going manag eme nt of c redit ris k s , a nd se c tor p o l ic i e s to g u ide the e x t ensi on of c redi t w he re i ndust r y - s pecif ic guideline s are con s id e red nec essary . C r e dit ap prov al l i m its repre s e n t t h e fo rm a l delegatio n of cred it appr o v al auth o rity to re spo ns ible i ndi v i du a ls th r ougho u t t h e orga n i sat ion.

Pi lla r 3 re p ort Cr ed it risk manag e m e nt W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 25 A p proa ch We st pac ado pt s tw o app r oa c hes t o m anaging c re dit ris k d e pen d ing upon the n atur e of t he cu s tom er an d t h e pro duc t . Tra ns a ct i o n - managed a p p r oac h For l a rger custom ers, West pac eva l u at es cr e dit r equ es ts by under tak i n g d eta il e d ind i v id u a l cus t o mer and t r a nsac tion ri sk a nal ys is ( the ‘ t ra n sacti on - managed’ ap proach) . S u ch c ust omers are a ssig ne d a custo m er risk g ra d e (CR G) r e pres en t in g We stpac’s e s t i mat e of th e ir probabil ity of de fault ( P D ). Each facil ity i s a ss igned a l o s s g ive n d efaul t (L G D ) . Th e Wes tpac c r e dit risk ra ting sy st em h as 20 ri s k gra des for non - de faulted cu s tom e rs and 10 ri s k gra de s fo r def a ult ed cu s to m ers. Non - d efau lt e d C R Gs down to t h e le v el o f n ormally acc epta ble r isk (i. e . D grad e – se e t ab le be low) a re m a pp e d t o M oody’ s an d S tand a r d & Poo r ’ s (S&P ) ext er nal sen io r ra nking un s ecure d r atings. T hi s mappi n g a llo w s W estpac to i nteg ra te t he ra t ing agen c ie s ’ def aul t hist or y w i t h internal h i s tor i cal da t a when calc ulat ing P Ds. The f in al as s ignme nt of CR Gs and L GDs i s a ppr ov e d by a u th o r i sed c r edi t ap p r o v ers with ap prop ria te del egate d a p prova l a uthority. A ll mate r ia l cre dit expos ure s are also ap pr ov ed by a ut horis e d C redit Of f i ce rs w ho are part o f t h e ris k man ag ement stream and oper ate ind e p en dentl y of t he ar eas o rigina tin g th e cr ed i t r is k pr o po sals . A ut horis ed Cred it Of fi cer dec is ions are s ub j ect t o r evi ews to e nsure c o ns i s ten t q uality an d conf ir m co mplia nc e with a pp r oval aut h o ri ty . Sep arat e team s a r e res p onsi bl e for mainta inin g acc urate a n d t imely recor din g of al l cred it r i sk app ro v als a n d c h an ges t o cu stome r a nd f acili ty dat a. Th ese teams al s o ope rat e i ndepen de ntly o f bo t h th e a reas o rig i n atin g th e credi t ri sk pr o po s als a nd t h e cr e d it risk appro ver s . App r opri at e segregatio n of func tions i s on e of t he ke y r eq uir em ents o f o u r c r edi t r isk m a n ag e me nt f r a m ew ork. Ma p ping of W es tpac ri sk gra des T h e t able bel ow shows th e curr e n t a l ign men t betw een W estp ac ’s i ntern al C RGs a n d t he co rre s p on di n g ex tern al rat ing . N ote that o nly high - lev el C RG gr oupings a re show n . Wes tpa c cus to mer ri sk g r ad e St an d ard & P oo r ’s rat i n g M oody’ s r atin g A AA A to AA – Aaa to Aa 3 B A+ t o A – A 1 to A 3 C BBB + to B BB – Ba a1 to Baa 3 D B B+ t o B+ Ba 1 to B1 We s tpac Rat i n g E W atc hlis t F S pec i a l me n tion G Substandar d/de fault H Doub tful/ d ef a u lt I Loss Fo r Spec ial is ed Le nd ing Wes t p ac map s e xp osu r e s t o the a p pro priate s upervisor y slo t ba se d on an a s ses sment th a t tak es in to acco u nt borr owe r stre ng t h and se c uri ty qualit y, a s r e q uired by APS 1 13 Capit al Adequacy: I ntern al Ra t ings - Ba sed Ap pr o a c h to C r edi t Risk (APS113) . P r o gr am - manage d a ppr o ach Hi gh - volume retail cust omer cr e d it port f olios wi th ho mo ge nous cr e d it ris k c ha rac t e r i s ti cs a r e ma naged on a statis ti cal bas is acc or d in g to pre - det e rmine d o bj ective c ri t eria (t he ‘pr og r a m - manag e d’ approach) . Pro g r a m - mana ged e xp osu r e inc ludes all consumer cus tom e r s . B u siness c u st om er e xposu res m ay be p rogr am m a na g ed fo r expo s u r e up to $ 3 mi llion . Q ua n titati ve sc o rec ar ds a re us e d t o ass i gn ap plicat io n and b e ha v iour al scores t o e nable r isk - based de cisio n m a king wit h i n the s e p o rtf ol ios. Th e s cor e card o utcomes and deci sion s are re g u la rl y m o nitor ed an d v al id ated ag a i ns t su bs equent c u s t om er p e r for mance an d s coreca rd s a r e r ec ali b rated or rebui l t whe n requ ir ed. F or ca p ital es timati on a n d othe r pu rposes, r isk - b a se d cust ome r s e gme n ts a re cr eated b ase d u p on m od elled expected P D, E x posure A t D ef au l t ( EAD ) a nd LG D. A ccou nts a re the n assign e d t o r esp e c t ive segment s b ased o n cus t ome r and accou n t c harac t er ist ics. E ac h seg me n t i s as sig ned a qu a n t ified m eas ure of it s PD, LG D and EAD . F o r b o th t ran sa ction - m ana ged and pr ogram - managed ap proa c hes, CR G s , PD s a n d LGD s a re re vi ew ed a t l e a st ann ua lly.

P i l lar 3 r eport C r e dit ris k manage m en t 26 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport M a p p i ng of B a sel categor ie s to We st pac por tf oli o s APS 1 13 Capit a l Ade quacy: I ntern al Ra t ings - Ba sed Ap pr o a c h to C r edi t Risk , s tates th a t u nd er t h e Adv a nce d IR B approac h t o c r edit r isk, an ADI must cate gori se b a nk ing b o ok ex pos ur es in to six br o a d I RB APS 113 A s s et C l a s s e s (s e e below) a nd a p p ly the pres cr ibed tr ea tme n t f or tho s e cl a sse s to eac h credit ex posure w it h in t hem for t he p u rposes of d e riving its r e gu l atory ca p i tal r e qui r eme nt. APS 11 3 A ss e t Cl ass Sub - a ss e t class W est pac categ ory S e gm e ntati on c r iteri a C o rpo rate Cor p ora te C orpo ra te All transacti on - ma naged c u s to mers n ot el sew he re cl as s ifi ed w h er e an n u al tur n o v e r e xce e d s $5 0 m illi o n 1 . S ME C orp o rat e Bus i ness L end ing A ll transacti on - mana ge d c u stom ers not e ls e w h ere cl a ssi fied wher e ann u al turno ver i s $50 m il l ion or less . Pro j ect Fi na nce (including O bject F in an c e) Spec i ali se d Len din g - Pr o jec t F i n an c e A p p l ied to t ra ns a ct i o n - ma naged c usto me r s w he re t he pr ima r y s our ce of debt service, se curi t y a nd re pa yme nt is de ri v ed fro m th e revenue gene r at e d by a c o m plete d pro jec t ( e.g. infr ast r uctu re s uch as toll ro ads or rail wa y s). I n com e - produ cin g Re a l E sta t e S p eci a l i sed Le n d in g - Pr o p e rty Financ e Ap pl i e d to tr a nsa ct ion - man age d c ust omers where th e prim a ry so u rc e of debt s er vi c e, sec u rit y and rep aymen t i s deri ved f rom e i ther th e sale o f a pro p erty d e v elopment or in come produc ed by one o r m or e inv est me nt pro per t i es 2 . S o v ereign So ve r ei g n App lied to tra ns a c ti on - ma n age d exp o sur es bac ked by g overnment s . Ba n k Ba n k Ap pli ed to tr an s action - man aged expo sures to depos it - t a king i nsti tut i ons and for eig n equ iv a l ents . Resid en tial Mortg ag e s Resid ent ia l Mor t ga ge s E xpos ur e s s e cur e d b y res i d en ti al m o r tga ges not else w h e r e c las s ifi ed . Q uali fy ing Rev olvi ng Retail Austr al i an C re d it Cards Pr og r am - man a ged credit c a rds w i t h low vol at i lity in l oss r ates. The New Zeal an d cards portfol i o is not el i g i ble for Qua li f ying Re vo lv i ng R et a i l t rea t m en t and i s cl as s i f i ed in Othe r Ret a i l . O the r Re ta il Smal l Bus ines s Pr ogram - man ag ed bu si n es s le n din g expo su re s under $1 million w h ere c o m p lex p rod uc t s ar e not ut il ised b y th e c u stom er . Other Reta i l All other p r ogram - ma nag ed lend i ng t o r etai l c u s t o mer s , i nclud i n g Ne w Z e a l and credit card s . Stand ard ise d a nd S ecuritised portf olios are sepa rately treated u nde r AP S 112 Ca p i ta l Ad eq uacy: S t a n d ar dis e d App roach to Credit R is k a n d A PS 120 Secur i tis ation re spectivel y. 1 I nclu d es al l NZ a gri bu s ine s s loa ns , r e ga r d l e s s o f turnove r . 2 E x c l udes la rg e div er s i f i ed p r o p e rt y gr ou ps a n d pr o p e rt y tr u s t s , w hi c h appea r in th e C o rp o r at e a s s et c l as s .

Pi lla r 3 re p ort Cr ed it risk manag e m e nt W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 27 M app i ng of C re dit ri sk appr o a ch to Basel c atego ri e s a n d e xp o sure t y p es Appro a ch AP S asset clas s T ypes of ex p osur e s T ran sa ction - Mana ged Port foli os Corporate S overeign Ban k Direct lendi n g Co n ti ng en t len di n g D e riv at iv e cou n t er pa rt y A s set warehousing Und e rw rit i ng Se co nd ary ma rke t tr a d in g Foreign e xchan ge se t t le m en t Other i nt r a - day s et t le ment ob l igat i o n s Pro gra m - M anag e d Po rtf ol ios Reside nti a l mo rtga ge Mortgages Equity acces s loans Quali f ying re vo lv i ng r et a i l A ust ra li an cr e d it c ar d s Ot her retail P erso n al lo a ns Ov er dr afts N ew Zeal a n d credit ca rd s Au to an d eq u ip m ent fi n a nc e Busin e ss de velopme n t lo a n s Busin ess o v erdr a ft s Oth er term prod uct s In tern al ratings pr o cess for tra n s action - m anage d por t fo li os The pr o c e s s fo r as signi n g a nd a p p r o vin g individual cus t om er P Ds an d fa cili ty LG Ds i n v ol ves: ⚫ Busi ne ss un it re p r es e nt a tives r e co m mend t h e C RG and fa c ilit y L G Ds un der t h e gu i da nc e o f criteria s et o ut i n es tablished cre d it policies. E ach CRG is as s ocia t ed w it h an es t i m a t ed PD ; ⚫ Autho r i se d cr e d i t of ficers evalu ate t he re c omm en da ti ons an d a ppro v e t he final CR G and f a ci l i ty LG D s. Aut h o ri s ed c re d it of ficers m ay o v e r r ide l ine b u sine s s un it re commendati ons ; ⚫ An expe rt judgement d ecisioning p r o cess is emplo y ed t o e va lu a te C RG a n d the o ut puts o f v ar io u s r isk grading mod els a re us e d a s on e of s ev era l in p u ts into tha t proce ss ; a n d ⚫ A u th o rised c r ed i t offi c er s ’ decisio n s ar e s u bject to r e view s t o ens ur e consiste nt q uali ty a nd confirm co m pliance with a pproval autho r ity . Fo r on - goin g e x p o s ure s to tran s a ct io n - m a n a ged customers, risk gr ade s an d fa ci lity L GDs are r eq uired to be revi ew e d a t l e as t annua l l y, but al s o w he never m a teri a l c hange s o cc u r. N o m at eri al deviation s f r om t he r eference defi n ition of def a u lt are p ermit t ed. I nt er na l rat in g s p r oce ss f or pr o g ra m - ma n a g e d p ortfolios Th e pr o ce ss f or as si gn ing PD s, LGDs a nd EADs to th e pro gr a m - m a na g ed portfo l i o i nvolve s d i vi ding th e por t f o l io in to a n umbe r o f poo ls per produ ct. Thes e po ols are creat e d by analysi n g risk ch aract e rist i cs t ha t hav e h i s t o ric al ly pred i c te d th a t a n a ccount is li kely to go int o de fa ult or lo ss . N o material de viati on s f r o m t he refere n c e d efinit i on of defaul t are p e r mitte d. In t e rna l c re dit r isk rating s s y stem In addition to u s ing the cred i t risk es timat e s as th e ba s is f or r e g u lat or y capit a l p ur po s e s , th ey are also used fo r t h e p ur po se s de sc rib ed b e l ow : Pro vi s i o ning - C re d it pr ov is ion s a re held b y W e stp a c to cover expect e d credit los s e s in the loan port f ol io . P rovi si o n i n g in cl ud es bo t h i nd iv i d u a l a nd collectiv e co m po n e nt s , includ in g overlays . In divi d ual p rov isio ns a re calcul at ed on i m pa i r ed loa ns tak i ng i nto ac c oun t mana gem e nt’ s b e s t est i ma te of th e p r es e nt value of fut u re c ashf lows. Col lect i ve provision s are esta blish e d on a po r tf olio b a s i s usi ng a fram e wor k th a t c ons iders PD, LG D, E A D, t ot al co mmit t ed ex pos ure, lev el of arr ea rs , r ec e nt p as t ex perien c e a n d forw a rd lookin g m a cro - e c o n omic f or ec a sts . Thi s a lso includes a consideration of ov erlays .

P i l lar 3 r eport C r e dit ris k manage m en t 28 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport Risk - ad ju sted perfo rma n ce m easu rement - Busi n ess performa n c e is mea sured u sin g a ll o ca ted c a p i t a l , w hi ch inco r por at es c h a rge s for econom ic c a pi t a l and r egul ato r y cap ital , in cluding cre dit c a p i ta l an d ca pital f or o ther r i sk types. Pr i cin g - W estpa c p ri c es lo ans to pr oduce an a cce p tabl e re turn on the c a pital alloca t e d to the loan . Re tu rn s i nc lud e i n t e r e st in co me an d fe es a f t e r ex p ected credi t lo s se s an d o th er c ost s . Cre dit appr oval - F or trans a c t io n - ma n age d faci l iti e s, app r ova l authori t ies ar e tiere d b as e d on the CRG , with lower li m its appl icable for cu s tomers with a higher P D. Pr o g ra m - ma na g ed fa c i l i t i e s ar e ap prove d on t he b a s is o f applicati on s c or e c ar d o ut come s a n d pro duct bas ed appro val auth o r i ti e s . C ont rol me c han i sms fo r th e credit r isk ra t i ng sy st e m i nclud e: ⚫ W est pa c’s credit ri s k ra ting system is re v iewed annual l y to conf irm t h a t th e ra t in g c r i t e r i a and p ro cedur e s a re a p p r o pri a te given th e cu r re n t p ort fo lio and ex ter nal cond itions; ⚫ All mode l s ma t e ri a lly impac t ing the ri s k r ating pro c ess ar e perio di c al l y rev iewe d i n accordance wi t h We stpa c’s model ris k policy; ⚫ Spe c ific credit risk estimate s (in cl uding PD, LGD and E AD levels) are in dependently asses s ed annually an d noted at Model Risk Committe e (a sub - c ommittee o f t he Group Executive Risk Committee) f or approval by Head of Model Risk ; ⚫ Cre dit Risk Assu ra nce undert a k e a n inde p enden t a n n ual e nd - to - e nd t ec h nic al and op e ra t io n al r e vie w of the overal l p r oc es s ; an d ⚫ CR EDCO , R IS KCO and B RiskC m oni tor th e ri s k pr o fi le , pe rfo rm ance a nd m anagem ent of W e st p ac’s cr e d i t por tfolio a n d the devel opm e nt a nd revi ew of key c redit risk p o l i cies. R i sk r e po r t ing A r ep or t on Wes tpa c 's c r edi t risk portfol io i s pro vid ed to CRE DCO , R ISK CO an d BRiskC qu arte rly . I t incl udes moni tori n g of perf orma nce agains t risk appetite. Cr edit r isk and as set q uality a re also re p or t ed t o t he B oa rd , i ncludi n g d e t ails of i mpa ir m e nt l osse s, st r es se d exp osures, del i nqu e ncy trend s and key per f o rmance m etri cs . Res p o n se to C OVI D - 1 9 Westpac suppo r ted cust o mers t hrough participation in the Australian Gove rnment SME Recovery L oan Scheme (SMERLS). SMERLS provided eligible companies assist ance with deal in g with the economi c impacts of COV ID - 19. Loans origin ated throug h th i s scheme m ay be regarded as p a rtia lly g uarant eed by the government for risk weighting pu rposes. The scheme co ncluded 30 June 2022.

Pi lla r 3 re p ort Cr ed it risk manag e m e nt W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 29 Summary cred i t ri sk d is closure 1 2 3 4 5 Westpac has restated prior period s overeign EAD. The restatement incre ases sovereign E AD for prior periods and has been corr e cted for 30 Sep tember 2022. It does not have a material impact on RWA, or capital ratios and no other metrics have been impacted. Refer to the June 2022 Pillar 3 report f or further details. Regulatory Expected Specific Actual Risk Regulatory Loss for Provisions Losses for 30 September 2022 Exposure Weighted Expected non-defaulted Impaired for Impaired the 12 months $m at Default Assets 1 Loss 2 exposures Loans Loans ended Corporate 147,497 72,688 900 333 292 196 384 Business lending 54,390 30,541 626 315 274 142 84 Sovereign 222,327 2,335 2 2 - - - Bank 21,348 4,609 6 6 - - - Residential mortgages 596,833 149,208 1,405 1,011 248 67 30 Australian credit cards 15,068 3,917 153 120 60 30 104 Other retail 8,972 6,726 292 194 182 94 105 Small business 28,129 13,991 448 286 326 136 37 Specialised Lending 68,552 57,338 858 557 29 10 1 Securitisation 36,322 6,947 - - - - - Standardised 5 14,603 13,798 - - 103 51 - Total 1,214,041 362,098 4,690 2,824 1,514 726 745 Regulatory Expected Specific Actual Risk Regulatory Loss for Provisions Losses for 31 March 2022 Exposure Weighted Expected non-defaulted Impaired for Impaired the 6 months $m at Default Assets 1 Loss 2 exposures Loans Loans ended Corporate 130,511 69,391 839 331 290 208 303 Business lending 53,364 32,686 621 350 333 150 34 Sovereign 4 219,219 2,270 2 2 - - - Bank 21,257 4,960 6 6 - - - Residential mortgages 585,810 146,448 1,615 1,139 226 65 28 Australian credit cards 15,193 3,951 169 133 59 33 50 Other retail 10,312 7,785 352 232 217 116 36 Small business 29,653 14,401 472 297 348 167 14 Specialised Lending 70,851 58,334 871 545 88 19 (1) Securitisation 33,366 6,306 - - - - - Standardised 5 14,276 13,141 - - 92 36 - Total 1,183,812 359,673 4,947 3,035 1,653 794 464 Regulatory Expected Specific Actual Risk Regulatory Loss for Provisions Losses for 30 September 2021 Exposure Weighted Expected non-defaulted Impaired for Impaired the 12 months $m at Default Assets 1 Loss 2 exposures Loans 3 Loans ended Corporate 130,245 68,715 925 382 602 498 67 Business lending 52,420 32,559 658 364 326 160 91 Sovereign 4 195,341 2,508 2 2 - - - Bank 21,283 5,104 6 6 - - - Residential mortgages 582,136 145,534 1,637 1,055 271 76 71 Australian credit cards 15,394 4,001 167 131 65 37 136 Other retail 11,518 8,272 394 258 245 136 146 Small business 30,877 15,187 544 348 428 196 82 Specialised Lending 66,732 55,372 835 535 110 23 1 Securitisation 30,561 5,881 - - - - - Standardised 5 16,679 14,162 - - 95 40 - Total 1,153,186 357,295 5,168 3,081 2,142 1,166 594 1 Westpac co nt inues to apply a fl o o r of 2 5 % to its residential mortgage por tfolio ri sk weight . 2 Includes regulato ry expe cted los se s for defaulted an d non - de f aulted exposu res. 3 In crea se in i mpaired m a inly driven by one large institutiona l exp os ure . 4 Marc h 2 022 and S ep tember 2021 Sovereig n EAD h a v e been restated. Refer to June 2 022 Pilla r 3 repor t for further details . 5 I nc lu des mark - to - ma r k e t re l ate d c r e d i t r i sk .

P i l lar 3 r eport C r e dit ris k manage m en t 30 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport Lo an im pa ir ment pro visi ons E x p ect e d c r edi t l os ses (ECL ) are estim a te s of t he c a sh flow sho rtfa lls e xpe cted to resu l t f r om def a ul t s o ver th e re l e vant tim e f r a m e . They a r e d eterm ined by ev a l ua ti ng a r ange of p ossi ble o ut comes and taking in t o account th e ti me val ue of m on ey, p ast eve nts , c u rre n t c o ndi t io ns and for ec asts of f u tur e e c o nom i c condition s. W estpa c c alcul at es pr o vis i on s fo r E C L b ased o n a t h ree - stag e a p p r o ach: ⚫ St a g e 1: 12 mont hs EC L ( p er formin g ) - Fo r fina ncial a ssets where ther e h a s been no si g n if ica nt in cre as e in c r edi t ri sk s in c e o r i g i n ati o n , a provisi on for 12 - m o nth EC L is r e cognised. ⚫ Sta ge 2: Li fetim e ECL ( p erf o rm i ng ) - F or fin a nc ial as sets wh er e t h e r e has b e e n a sig nific ant i n c r e as e in credit r is k si nce o r i gina t i on and whe re t he asset is s t il l p erf or min g , a pro v isi on f or l if e tim e E C L is re co gnised. D eterminin g wh en a fin a n cial asset has expe rienced a signi fica n t i ncr e as e in cre dit ri sk since or i g in ation i s a cr itica l acc oun t i n g j ud gement. The determ ination of a significan t i n cr e as e in ris k i s driven by t he cha n ge in t he p ro b abil i ty of d ef ault (PD) si nce origi n ati on. I n d e t er mining w heth er a change in PD re pres ent s a sig nificant incre ase i n risk , re la tiv e ch a n ge s in PD and a bs o lut e PD thresho lds a re b oth con sid ered based on th e portfo lio of th e exposu re. ⚫ Stage 3 : Li f et im e EC L ( non - p e rfor m i ng ) - For fi nancial a s s et s t h a t a r e non - p erfo r min g a p ro v i sio n f o r li f e ti m e ECL is r e cognis ed. In dic ato rs in c lu d e a bre ac h o f cont ract wit h W es t pa c such as a default on in t erest or princip al p a yments, a bo r ro w er expe rie n c ing s i g n i fi c an t f i na n ci al di f ficu l t ies . Coll ec tive and i n di vid u a l a s s essmen t - F ina nc ial a s s ets th a t a r e in S t ages 1 a n d 2 ar e a sse sse d o n a c o ll e ctive b as i s as are financi al as s et s in S tage 3 below specif i ed exposure thre sh o l d s. Those fin a nc i al asse ts i n S tag e 3 ab o ve t h e s p ec ifi ed expo s u re thresho ld s are ass e s se d o n a n i n dividu al b a sis . Exp ec t e d l ife - L i f e ti m e ECL rep r e sents the ex pec ted c red i t l osses t ha t r esult from def au l t e ve nts ove r th e expect e d lif e of a financial in s t r ument. In co n si d er ing l ife t i me ECL , t h e re m a i n in g c ont ra c tual l ife is use d for non - r e tai l p o r tfo l i os. Fo r re t ail port fol i os lif e tim e E CL is cal ibr a t ed to his tor ica lly o bse r ve d portfo li o b ehavio ur. Forw ar d l o ok ing inf orma tion - T h e mea s urement of ECL f or e a ch stage a nd th e a ssess men t of sig n i f i c a nt i n c re a se in c r edit r isk consid er s informa t ion ab o u t p a s t even ts a n d c urren t c o ndi tio n s a s w el l a s re aso n a ble an d s upp ort abl e pro j ec t ions of f u t u re eve nts and ec o no m ic con dit ions . In ord e r to c apture the asymm et r y of the los se s e x pe cted ove r the ra n g e o f p l a u s ib l e fut ur e eve n t s and econ om ic condit i ons , W e s tpa c consid ers t hre e fut ure mac roe c ono m i c s c en ario s i . e . base , u psi de and d own s id e scenar io s . The m acroecon om i c v a r ia bles used in thes e scen a rios, include (b ut a r e not limite d t o ) emplo yme n t to po p u l at i on r a t io , r eal g r oss d o mestic pro du ct growth rat es a n d r e s identi al a n d c ommer cia l pr ope r ty p r i ce in dice s. T he ECL is a wei ght ed av e ra g e of th e c r e dit lo sses exp ec t ed un der these t hre e sc e narios . The s cenario we ig h t s are based o n W e stpac’s as s e ssment o f u p si d e a nd do wns id e ris k s taking in to account c urr ent t ren d s , forw ard l ook ing c ond i tio ns a nd t h e d e gr ee o f u n c ertain ty att ach ed to th e se project io n s . Regul atory cl as s if i ca tion of l oan imp air ment p r ovis ions All i nd ivi d ually assesse d p rov isions ( IA Ps ) ra ised under Austr alian Ac coun t ing St a ndard s (AA S ) a r e cl as s ifie d as specifi c provisions in ac c o rda n ce with APS 220 Cred it Risk Manage ment . All C o lle ctive ly Assess ed Provis io n s ( C APs) rai s ed under AA S are e i the r classif ied into specific provisio ns o r a General Reserve for C redit Loss ( G R CL) .

Pi lla r 3 r e po r t C r e d i t r isk man a geme nt W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 31 Expec te d c r ed i t lo s s p rovi s i on 1 30 September 2022 Total Regulatory $m IAPs CAPs Provisions Specific Provisions for impaired loans 452 274 726 for defaulted but not impaired loans - 673 673 For Stage 2 - 2,188 2,188 Total Specific Provision 1 452 3,135 3,587 General Reserve for Credit Loss 1 - 1,048 1,048 Total provisions for ECL 452 4,183 4,635 31 March 2022 Total Regulatory $m IAPs CAPs Provisions Specific Provisions for impaired loans 501 293 794 for defaulted but not impaired loans - 696 696 For Stage 2 - 1,914 1,914 Total Specific Provision 1 501 2,903 3,404 General Reserve for Credit Loss 1 - 1,278 1,278 Total provisions for ECL 501 4,181 4,682 30 September 2021 Total Regulatory $m IAPs CAPs Provisions Specific Provisions for impaired loans 832 334 1,166 for defaulted but not impaired loans - 806 806 For Stage 2 - 1,877 1,877 Total Specific Provision 1 832 3,017 3,849 General Reserve for Credit Loss 1 - 1,158 1,158 Total provisions for ECL 832 4,175 5,007 A-IFRS Provisions A-IFRS Provisions A-IFRS Provisions 1 Prov is i on s c l as sifi ed a cc or d in g t o A P RA ’ s le tte r d at e d 4 Jul y 20 1 7 “ Pr ovi sion s f o r re gu lato r y pur p o ses an d AA S B 9 f i n a ncia l i n s t r u m e n t s” .

Pill ar 3 r ep or t C re d i t r isk ma n a g e m e nt 32 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport M o v e men t in provisi o ns fo r impa irment 1 For the 12 months ended 30 September 2022 Non- performing $m Stage 1 Stage 2 Stage 3 Total Balance as at 30 September 2021 for Loans and Credit Commitments 936 2,091 1,972 4,999 Transfers to Stage 1 912 (792) (120) - Transfers to Stage 2 (235) 1,002 (767) - Transfers to Stage 3 (14) (383) 397 - Business activity during the period 354 (244) (340) (230) Net remeasurement of provision for ECL (1,066) 689 1,129 752 Write-offs - - (934) (934) Exchange rate and other adjustments (2) (22) 62 38 Balance as at 30 September 2022 for Loans and Credit Commitments 885 2,341 1,399 4,625 Balance as at 30 September 2021 for debt securities 3 5 - 8 Provision for ECL on debt securities at amortised cost - 3 - 3 Provision for ECL on debt securities at FVOCI 1 1 (2) - (1) Total provision for ECL as at 30 September 2022 4 6 - 10 Total provision for ECL as at 30 September 2022 889 2,347 1,399 4,635 Performing For the 6 months ended 31 March 2022 Non- performing $m Stage 1 Stage 2 Stage 3 Total Balance as at 30 September 2021 for Loans and Credit Commitments 936 2,091 1,972 4,999 Transfers to Stage 1 461 (398) (63) - Transfers to Stage 2 (102) 509 (407) - Transfers to Stage 3 (8) (198) 206 - Business activity during the period 255 (149) (200) (94) Net remeasurement of provision for ECL (463) 264 535 336 Write-offs - - (566) (566) Exchange rate and other adjustments (1) (12) 13 - Balance as at 31 March 2022 for Loans and Credit Commitments 1,078 2,107 1,490 4,675 Balance as at 30 September 2021 for debt securities 3 5 - 8 Provision for ECL on debt securities at amortised cost - 1 - 1 Provision for ECL on debt securities at FVOCI 1 - (2) - (2) Total provision for ECL as at 31 March 2022 3 4 - 7 Total provision for ECL as at 31 March 2022 1,081 2,111 1,490 4,682 Performing 1 Impairme n t of debt secu r i t ies at F a i r V a l u e t h ro ugh Ot h er Com pr ehensiv e Inco me ( FVO CI) i s r ec o g n i s e d i n t h e in com e sta te m en t w i th a c or re s p on d in g a m o u n t i n ot her c o mp r ehe nsiv e i n c o me . The re i s n o red uc tion of th e carr yi n g v a l u e o f t he d eb t s e c ur i t i es w hi ch remain a t fair val ue.

Pi lla r 3 r e po r t C r e d i t r isk man a geme nt W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 33 For the 12 months ended 30 September 2021 Non- performing $m Stage 1 Stage 2 Stage 3 Total Balance as at 30 September 2020 for Loans and Credit Commitments 1,084 2,875 2,173 6,132 Transfers to Stage 1 1,246 (1,128) (118) - Transfers to Stage 2 (200) 1,290 (1,090) - Transfers to Stage 3 (8) (507) 515 - Business activity during the period 122 (223) (35) (136) Net remeasurement of provision for ECL (1,284) (200) 1,295 (189) Write-offs - - (836) (836) Exchange rate and other adjustments (24) (16) 68 28 Balance as at 30 September 2021 for Loans and Credit Commitments 936 2,091 1,972 4,999 Balance as at 30 September 2020 for debt securities 2 29 - 31 Provision for ECL on debt securities at amortised cost - (24) - (24) Provision for ECL on debt securities at FVOCI 1 1 - - 1 Total provision for ECL as at 30 September 2021 3 5 - 8 Total provision for ECL as at 30 September 2021 939 2,096 1,972 5,007 Performing 1 2 1 I m p ai r m e n t o f d e b t se cu riti e s at Fa i r Value t h ro u gh Ot her Co m pr e h e n s i v e I n c o m e ( F V O CI ) is re co g nis ed i n the in co m e s tat eme n t w i t h a cor re s pon ding am ount i n other com p re h en si ve inc o me. T h e re i s n o r e d u c tio n o f t he c a r ry i n g v alue of the deb t s ecuritie s wh i c h r e ma i n a t f a i r v al ue .

P il l a r 3 re p o r t Cred i t r isk exp osures 34 | We s tp ac Gr o up Se p tembe r 2 022 P i l la r 3 r eport The fo ll owin g tab le s se gmen t t he p or t fol i o by c har a ct er is ti c s th a t pr o vi de an i ns ig ht i nto t h e a ss es sment of credi t ri s k co n cent r at ion. Exp osure at Defau lt b y m aj or t y pe 30 September 2022 On balance Total Exposure Average $m sheet Non-market related Market related at Default 12 months ended 1 Corporate 67,749 55,616 24,132 147,497 135,654 Business lending 41,223 13,167 - 54,390 53,473 Sovereign 167,403 1,560 53,364 222,327 217,545 Bank 11,081 1,479 8,788 21,348 21,332 Residential mortgages 515,283 81,550 - 596,833 588,235 Australian credit cards 6,128 8,940 - 15,068 15,246 Other retail 6,434 2,538 - 8,972 10,296 Small business 21,428 6,701 - 28,129 29,576 Specialised lending 56,370 11,902 280 68,552 69,429 Securitisation 2 28,989 7,288 45 36,322 33,524 Standardised 10,929 974 2,700 14,603 15,275 Total 933,017 191,715 89,309 1,214,041 1,189,585 31 March 2022 On balance Total Exposure Average $m sheet Non-market related Market related at Default 6 months ended 3 Corporate 58,276 58,479 13,756 130,511 130,588 Business lending 39,268 14,096 - 53,364 52,938 Sovereign 159,656 1,802 57,761 219,219 192,393 Bank 12,134 1,663 7,460 21,257 21,040 Residential mortgages 507,070 78,740 - 585,810 584,480 Australian credit cards 6,097 9,096 - 15,193 15,331 Other retail 7,596 2,716 - 10,312 10,958 Small business 22,587 7,066 - 29,653 30,254 Specialised lending 57,146 12,933 772 70,851 68,777 Securitisation 2 24,743 8,556 67 33,366 31,704 Standardised 10,939 1,013 2,324 14,276 15,642 Total 905,512 196,160 82,140 1,183,812 1,154,105 30 September 2021 On balance Total Exposure Average $m sheet Non-market related Market related at Default 12 months ended 4 Corporate 56,576 59,238 14,431 130,245 127,203 Business lending 39,080 13,340 - 52,420 53,340 Sovereign 141,437 1,524 52,380 195,341 150,012 Bank 12,327 1,817 7,139 21,283 22,140 Residential mortgages 503,883 78,253 - 582,136 565,334 Australian credit cards 5,872 9,522 - 15,394 16,327 Other retail 8,445 3,073 - 11,518 12,566 Small business 23,804 7,073 - 30,877 31,953 Specialised lending 53,084 12,234 1,414 66,732 65,723 Securitisation 2 23,428 7,041 92 30,561 28,432 Standardised 12,168 1,031 3,480 16,679 16,252 Total 880,104 194,146 78,936 1,153,186 1,089,282 Off-balance sheet Off-balance sheet Off-balance sheet 1 Average is based on e xp osures as a t 30 September 2022, 3 0 June 2022, 31 Mar c h 2022 , 31 Decembe r 2021 and 30 September 20 21. 2 E AD a ssoc iate d w i th se c ur i tis at io n s is f o r the b a nki n g bo o k on l y. 3 Av e r age is ba sed on e xp o su r es as at 31 M a r ch 20 22, 31 Decem ber 2021 and 30 S e p t e m b e r 2 02 1 . 4 A v e ra g e is b a se d o n e xpo s u r es as a t 3 0 Septe m be r 20 21, 30 June 20 21, 3 1 Ma rc h 2 0 2 1 , 3 1 De c em ber 20 20 , an d 3 0 Se pte m be r 20 20 .

P illa r 3 re p o rt C r edit r is k e xposu res W es t p a c Grou p S eptember 2022 Pi l la r 3 r ep ort | 35 E x po sure a t D e f au lt by measurement m eth o d 30 September 2022 IRB Standardised Total Exposure $m Approach Approach at Default Corporate 147,497 5,675 153,172 Business lending 54,390 729 55,119 Sovereign 222,327 1,689 224,016 Bank 21,348 96 21,444 Residential mortgages 596,833 4,358 601,191 Australian credit cards 15,068 - 15,068 Other retail 8,972 1,643 10,615 Small business 28,129 - 28,129 Specialised lending 68,552 413 68,965 Securitisation 36,322 - 36,322 Total 1,199,438 14,603 1,214,041 31 March 2022 IRB Standardised Total Exposure $m Approach Approach at Default Corporate 130,511 5,063 135,574 Business lending 53,364 672 54,036 Sovereign 219,219 1,393 220,612 Bank 21,257 105 21,362 Residential mortgages 585,810 4,885 590,695 Australian credit cards 15,193 - 15,193 Other retail 10,312 1,783 12,095 Small business 29,653 - 29,653 Specialised lending 70,851 375 71,226 Securitisation 33,366 - 33,366 Total 1,169,536 14,276 1,183,812 30 September 2021 IRB Standardised Total Exposure $m Approach Approach at Default Corporate 130,245 6,839 137,084 Business lending 52,420 685 53,105 Sovereign 195,341 1,312 196,653 Bank 21,283 144 21,427 Residential mortgages 582,136 5,516 587,652 Australian credit cards 15,394 - 15,394 Other retail 11,518 1,815 13,333 Small business 30,877 - 30,877 Specialised lending 66,732 368 67,100 Securitisation 30,561 - 30,561 Total 1,136,507 16,679 1,153,186

P il lar 3 re por t C re di t r is k e x p osu r es 36 | W e s t p ac Gr ou p September 2 0 22 P i l l ar 3 r e p o rt Exp o sure a t Defa ul t by in d u s t r y cl assif i c at io n 30 September 2022 $m Corporate 2,905 10,589 3,405 28,398 351 18,067 6,242 8,804 10,784 13,893 18,253 12,593 12,607 - 606 147,497 Business lending 5,854 10,915 4,201 1,768 7 4,999 494 1,014 6,801 6,162 7,754 2,387 368 - 1,666 54,390 Sovereign - 1 - 152,838 68,266 70 - 539 245 214 - 154 - - - 222,327 Bank - - - 21,224 23 - - - 101 - - - - - - 21,348 Residential mortgages - - - - - - - - - - - - - 596,833 - 596,833 Australian credit cards - - - - - - - - - - - - - 15,068 - 15,068 Other retail - - - - - - - - - - - - - 8,972 - 8,972 Small business 748 1,975 3,469 1,252 705 1,530 545 2,150 4,211 3,664 2,815 1,484 322 - 3,259 28,129 Specialised lending 566 14 29 14 - 1 724 63,021 101 526 32 1,265 1,505 - 754 68,552 Securitisation - - - 35,076 - - - - 806 - 440 - - - - 36,322 Standardised 110 1 182 5,069 1,689 151 39 413 149 35 535 104 59 6,001 66 14,603 Total 10,183 23,495 11,286 245,639 71,041 24,818 8,044 75,941 23,198 24,494 29,829 17,987 14,861 626,874 6,351 1,214,041 Accommodation, cafes & restaurants Agriculture, forestry & fishing Government administration & defence Construction Finance & insurance Property Manufacturing Property services & business services Utilities 3 Retail lending Other Total Exposure at Default Mining Services 1 Trade 2 Transport & storage 1 I ncl ud e s e duc at i on, h e alt h & c o mm uni t y se r v ic e s , c u lt u r a l & re c reatio n a l s e r v ices a n d p er son al & o th er ser v i c es. 2 I n c l u d e s w hole s a l e t r a de a n d r e t a i l t r a de . 3 I n c lud es ele c t ri cit y , g a s & wa t er , an d c o m municat ion ser vi ces.

P i ll ar 3 r epo r t C r e di t ri s k e xp o sur es W estpac G roup Septem ber 2022 Pi l lar 3 r e por t | 37 1 2 3 31 March 2022 $m Corporate 2,525 11,135 3,193 16,061 103 15,969 6,211 8,547 9,617 13,811 17,842 11,819 12,965 - 713 130,511 Business lending 5,837 10,619 4,035 1,831 10 4,875 508 842 6,562 6,015 7,797 2,278 426 - 1,729 53,364 Sovereign - 1 - 154,430 63,608 54 50 475 10 438 - 153 - - - 219,219 Bank - - - 21,173 4 - - - 80 - - - - - - 21,257 Residential mortgages - - - - - - - - - - - - - 585,810 - 585,810 Australian credit cards - - - - - - - - - - - - - 15,193 - 15,193 Other retail - - - - - - - - - - - - - 10,312 - 10,312 Small business 792 2,073 3,599 1,362 810 1,573 566 2,179 4,499 3,989 2,951 1,543 332 - 3,385 29,653 Specialised lending 704 17 28 10 - 1 891 61,696 457 1,226 26 2,800 2,465 - 530 70,851 Securitisation - - - 32,256 - - - - 806 - 304 - - - - 33,366 Standardised 113 1 187 4,458 1,393 151 33 375 132 35 525 100 51 6,669 53 14,276 Total 9,971 23,846 11,042 231,581 65,928 22,623 8,259 74,114 22,163 25,514 29,445 18,693 16,239 617,984 6,410 1,183,812 Accommodation, cafes & restaurants Agriculture, forestry & fishing Mining Construction Finance & insurance Government administration & defence Total Exposure at Default Transport & storage Manufacturing Property Property services & business services Trade 2 Services 1 Utilities 3 Retail lending Other 1 Inc l udes ed u c a t i o n , h eal th & co m mun it y s e rvi ce s , c u l t ura l & r e cr eat i o n al s er v i c e s an d p er s o na l & oth e r s e r v i ces. 2 Inc lu des w hole sa le tra d e and r et a i l t r a de . 3 I n c lu d e s e l e c tr i c i t y , g a s & wat e r , an d comm u n ic ati o n s e rv ices .

P il lar 3 re por t C re di t r is k e x p osu r es 38 | W e s t p ac Gr ou p September 2 0 22 P i l l ar 3 r e p o rt 1 2 3 30 September 2021 $m Corporate 2,462 11,145 3,020 16,126 111 15,997 6,558 9,411 9,344 11,783 19,992 10,463 12,923 - 910 130,245 Business lending 5,749 10,152 4,030 1,904 10 4,652 450 1,144 6,361 5,722 7,832 2,234 412 - 1,768 52,420 Sovereign - 1 - 117,812 76,756 56 60 495 7 152 - 2 - - - 195,341 Bank - - - 21,191 12 - - - 80 - - - - - - 21,283 Residential mortgages - - - - - - - - - - - - - 582,136 - 582,136 Australian credit cards - - - - - - - - - - - - - 15,394 - 15,394 Other retail - - - - - - - - - - - - - 11,518 - 11,518 Small business 833 2,189 3,798 1,498 807 1,663 584 2,118 4,784 3,967 3,102 1,630 351 - 3,553 30,877 Specialised lending 493 16 34 13 393 1 748 56,830 232 1,323 29 3,573 2,559 - 488 66,732 Securitisation - - - 29,532 - - - - 793 - 236 - - - - 30,561 Standardised 116 11 170 6,318 1,312 144 26 373 119 42 529 92 52 7,331 44 16,679 Total 9,653 23,514 11,052 194,394 79,401 22,513 8,426 70,371 21,720 22,989 31,720 17,994 16,297 616,379 6,763 1,153,186 Accommodation, cafes & restaurants Agriculture, forestry & fishing Construction Finance & insurance Government administration & defence Manufacturing Mining Property Property services & business services Services 1 Total Exposure at Default Trade 2 Transport & storage Utilities 3 Retail lending Other 1 Inc lu d e s educat ion , he al th & c ommu n ity ser v i c e s , c ul tur al & re c rea ti o n a l se rv i ces a n d p e r son a l & o t h e r s e rv i c e s . 2 I n c lu d e s w holesa l e t r a d e and r e tai l tra de . 3 In cludes e l ect r i ci t y , g a s & wat e r , a n d co m m u ni c a t i o n s e r vi ces.

P i llar 3 rep ort Cr e d i t r is k e x p osu res W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 39 Expos ure a t D efa ult by g eog ra p h y 1 30 September 2022 Total Exposure $m Australia New Zealand Americas Asia Europe Pacific at Default Corporate 98,283 22,938 10,222 4,678 11,376 - 147,497 Business lending 49,950 4,440 - - - - 54,390 Sovereign 191,542 18,933 10,522 870 460 - 222,327 Bank 19,788 1,105 10 298 147 - 21,348 Residential mortgages 532,458 64,226 - 149 - - 596,833 Australian credit cards 15,068 - - - - - 15,068 Other retail 6,460 2,512 - - - - 8,972 Small business 26,093 2,035 - 1 - - 28,129 Specialised lending 61,087 7,465 - - - - 68,552 Securitisation 31,730 4,592 - - - - 36,322 Standardised 11,277 - - - - 3,326 14,603 Total 1,043,736 128,246 20,754 5,996 11,983 3,326 1,214,041 31 March 2022 Total Exposure $m Australia New Zealand Americas Asia Europe Pacific at Default Corporate 88,138 23,216 7,721 4,164 7,272 - 130,511 Business lending 48,561 4,803 - - - - 53,364 Sovereign 189,699 18,483 10,197 351 489 - 219,219 Bank 18,969 1,662 1 556 69 - 21,257 Residential mortgages 519,859 65,790 - 161 - - 585,810 Australian credit cards 15,193 - - - - - 15,193 Other retail 7,616 2,696 - - - - 10,312 Small business 27,442 2,210 - 1 - - 29,653 Specialised lending 63,104 7,746 - - 1 - 70,851 Securitisation 29,164 4,202 - - - - 33,366 Standardised 11,350 - - - - 2,926 14,276 Total 1,019,095 130,808 17,919 5,233 7,831 2,926 1,183,812 30 September 2021 Total Exposure $m Australia New Zealand Americas Asia Europe Pacific at Default Corporate 88,822 23,329 7,241 4,784 6,069 - 130,245 Business lending 47,423 4,997 - - - - 52,420 Sovereign 165,608 16,710 12,441 212 370 - 195,341 Bank 19,254 1,315 112 541 61 - 21,283 Residential mortgages 515,772 66,189 - 175 - - 582,136 Australian credit cards 15,394 - - - - - 15,394 Other retail 8,667 2,851 - - - - 11,518 Small business 28,509 2,367 - 1 - - 30,877 Specialised lending 58,299 8,433 - - - - 66,732 Securitisation 26,083 4,478 - - - - 30,561 Standardised 13,757 - - 3 - 2,919 16,679 Total 987,588 130,669 19,794 5,716 6,500 2,919 1,153,186 1 Geo graphi c se gme n t at i on of e xp osur es i s based on t he lo catio n of t he o ffi c e i n w h ic h t hese it e ms we r e b ook ed .

P i ll a r 3 r e p o rt C redi t r i s k e x po s u r e s 40 | W e s tpac G r oup September 2022 Pi l l ar 3 report E xpos ure at D efau l t by r esid ual contrac tua l ma turit y 30 September 2022 Total Exposure $m On demand < 12 months 1 to < 3 years 3 to < 5 years > 5 years at Default Corporate 13,078 24,945 76,523 26,790 6,161 147,497 Business lending 4,458 12,882 24,137 5,998 6,915 54,390 Sovereign 1,304 115,909 69,268 13,010 22,836 222,327 Bank 3,186 3,384 13,845 776 157 21,348 Residential mortgages 29,080 5,422 10,469 2,652 549,210 596,833 Australian credit cards 15,068 - - - - 15,068 Other retail 2,535 290 3,133 1,999 1,015 8,972 Small business 4,241 2,781 7,872 6,451 6,784 28,129 Specialised lending 322 19,318 37,024 8,620 3,268 68,552 Securitisation - 8,502 10,254 4,346 13,220 36,322 Standardised 1,443 1,257 7,029 297 4,577 14,603 Total 74,715 194,690 259,554 70,939 614,143 1,214,041 31 March 2022 Total Exposure $m On demand < 12 months 1 to < 3 years 3 to < 5 years > 5 years at Default Corporate 13,765 25,029 61,310 23,990 6,417 130,511 Business lending 4,389 13,507 23,254 5,797 6,417 53,364 Sovereign 1,350 103,649 71,756 11,610 30,854 219,219 Bank 2,831 2,894 14,725 627 180 21,257 Residential mortgages 29,763 5,158 11,127 2,769 536,993 585,810 Australian credit cards 15,193 - - - - 15,193 Other retail 2,688 321 3,466 2,618 1,219 10,312 Small business 4,326 2,966 8,328 7,093 6,940 29,653 Specialised lending 382 19,195 37,544 9,626 4,104 70,851 Securitisation 9 5,284 11,275 2,510 14,288 33,366 Standardised 1,571 1,212 6,108 284 5,101 14,276 Total 76,267 179,215 248,893 66,924 612,513 1,183,812 30 September 2021 Total Exposure $m On demand < 12 months 1 to < 3 years 3 to < 5 years > 5 years at Default Corporate 13,514 28,465 62,097 20,217 5,952 130,245 Business lending 4,512 14,266 22,945 5,091 5,606 52,420 Sovereign 1,383 73,360 67,421 15,669 37,508 195,341 Bank 2,956 3,080 14,562 617 68 21,283 Residential mortgages 30,020 4,742 11,800 2,749 532,825 582,136 Australian credit cards 15,394 - - - - 15,394 Other retail 2,798 340 3,977 2,984 1,419 11,518 Small business 4,428 3,194 8,582 7,467 7,206 30,877 Specialised lending 431 18,839 34,571 9,055 3,836 66,732 Securitisation - 7,190 7,931 2,067 13,373 30,561 Standardised 1,612 1,165 7,883 289 5,730 16,679 Total 77,048 154,641 241,769 66,205 613,523 1,153,186

P i llar 3 rep ort Cr e d i t r is k e x p osu res W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 41 Im pai r e d a nd p ast du e l oans The fo l lowing t a b l e s disc l os e th e crys t al lis ation of cr edi t risk a s i m p a i rmen t a nd los s. A na lysis o f e x posu res d efau lt e d n o t impaired , i mp ai re d lo a ns , re la t e d p r o v i si o ns an d actu al l o s se s a re broken dow n by concen t r at ion s refle cti ng W e stp ac ’s as set c a tegories, i n dustry a n d g e ograp h y. Im pa ired an d p ast due loa ns by por tf ol i o 1 2 Specific Specific Actual 30 September 2022 Defaulted Impaired Provisions for Provisions to Losses for the $m not impaired 1 Loans Impaired Loans Impaired Loans 12 months ended Corporate 150 292 196 67% 384 Business lending 1,175 274 142 52% 84 Sovereign - - - - - Bank - - - - - Residential mortgages 3,576 248 67 27% 30 Australian credit cards - 60 30 50% 104 Other retail - 182 94 52% 105 Small business 557 326 136 42% 37 Specialised lending 549 29 10 34% 1 Securitisation - - - - - Standardised 72 103 51 50% - Total 6,079 1,514 726 48% 745 Specific Specific Actual 31 March 2022 Defaulted Impaired Provisions for Provisions to Losses for the $m not impaired 1 Loans Impaired Loans Impaired Loans 6 months ended Corporate 218 290 208 72% 303 Business lending 1,008 333 150 45% 34 Sovereign - - - - - Bank - - - - - Residential mortgages 4,229 226 65 29% 28 Australian credit cards - 59 33 56% 50 Other retail - 217 116 53% 36 Small business 496 348 167 48% 14 Specialised lending 532 88 19 22% (1) Securitisation - - - - - Standardised 73 92 36 39% - Total 6,556 1,653 794 48% 464 Specific Specific Actual 30 September 2021 Defaulted Impaired Provisions for Provisions to Losses for the $m not impaired 1, 2 Loans Impaired Loans Impaired Loans 12 months ended Corporate 400 602 498 83% 67 Business lending 1,106 326 160 49% 91 Sovereign - - - - - Bank - - - - - Residential mortgages 5,053 271 76 28% 71 Australian credit cards - 65 37 57% 136 Other retail - 245 136 56% 146 Small business 518 428 196 46% 82 Specialised lending 466 110 23 21% 1 Securitisation - - - - - Standardised 85 95 40 42% - Total 7,628 2,142 1,166 54% 594 1 I n c lud e s i t e ms pa s t 90 d ay s n o t im p a i re d . 2 I nc ludes rec la ssific at ion o f fa c i l i t i es sub je c t t o a for be a r an c e a g r eement .

P i ll a r 3 r e p o rt C redi t r i s k e x po s u r e s 42 | W e s tpac G r oup September 2022 Pi l l ar 3 report Impa ired and past d ue loans by ind us t ry c l as sif ic ati on 1 Specific Specific Actual 30 September 2022 Defaulted Impaired Provisions for Provisions to Losses for the $m not impaired 1 Loans Impaired Loans Impaired Loans 12 months ended Accommodation, cafes & restaurants 273 57 25 44% 5 Agriculture, forestry & fishing 243 55 21 38% 7 Construction 145 88 41 47% 10 Finance & insurance 86 40 23 58% 8 Government administration & defence - - - - - Manufacturing 126 186 113 61% 89 Mining 14 9 3 33% 3 Property 801 57 18 32% 28 Property services & business services 202 150 91 61% 17 Services 2 181 101 59 58% 310 Trade 3 298 172 83 48% 19 Transport & storage 55 37 13 35% 7 Utilities 4 6 4 1 25% 1 Retail lending 3,636 503 198 39% 239 Other 13 55 37 67% 2 Total 6,079 1,514 726 48% 745 Specific Specific Actual 31 March 2022 Defaulted Impaired Provisions for Provisions to Losses for the $m not impaired 1 Loans Impaired Loans Impaired Loans 6 months ended Accommodation, cafes & restaurants 312 66 27 41% 1 Agriculture, forestry & fishing 165 62 17 27% 4 Construction 135 88 38 43% 5 Finance & insurance 105 34 21 62% 9 Government administration & defence - - - - - Manufacturing 115 210 141 67% 1 Mining 20 12 6 50% - Property 682 119 31 26% - Property services & business services 249 159 92 58% 10 Services 2 183 115 60 52% 304 Trade 3 230 176 96 55% 10 Transport & storage 33 39 17 44% 6 Utilities 4 11 4 1 25% - Retail lending 4,292 517 220 43% 114 Other 24 52 27 52% - Total 6,556 1,653 794 48% 464 Specific Specific Actual 30 September 2021 Defaulted Impaired Provisions for Provisions to Losses for the $m not impaired 1 Loans Impaired Loans Impaired Loans 12 months ended Accommodation, cafes & restaurants 587 90 51 57% 12 Agriculture, forestry & fishing 225 67 19 28% 25 Construction 128 96 38 40% 33 Finance & insurance 108 53 23 43% 26 Government administration & defence - - - - - Manufacturing 131 203 118 58% 60 Mining 23 14 6 43% 6 Property 601 149 46 31% 11 Property services & business services 183 200 131 66% 11 Services 2 135 348 311 89% 11 Trade 3 295 215 118 55% 16 Transport & storage 49 49 22 45% 12 Utilities 4 6 6 2 33% 1 Retail lending 5,119 596 256 43% 353 Other 38 56 25 45% 17 Total 7,628 2,142 1,166 54% 594 1 In cludes i te m s p a st 90 d ay s n ot imp aired . 2 In cl u des e ducat i on, h e alt h & c o m m u n i ty s erv i c es, cul tu r a l & r ecr e ational s e r v i c es a n d p er s o n a l & o t he r s er v i ce s . 3 I n c l ud e s w hole s a l e t ra de an d re t a il tra de . 4 I n cl u d e s e l ec tric it y , g a s & wa t e r , a n d c o m mu nica t i o n s ervice s .

P i llar 3 rep ort Cr e d i t r is k e x p osu res W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 43 I m pai red and p ast d ue loan s b y g eog raph y 1 2 Specific Specific Actual 30 September 2022 Defaulted Impaired Provisions for Provisions to Losses for the $m not impaired 2 Loans Impaired Loans Impaired Loans 12 months ended Australia 5,609 1,302 609 47% 685 New Zealand 425 77 34 44% 60 Americas - - - - - Asia - 34 32 94% - Europe - - - - - Pacific 45 101 51 50% - Total 6,079 1,514 726 48% 745 Specific Specific Actual 31 March 2022 Defaulted Impaired Provisions for Provisions to Losses for the $m not impaired 2 Loans Impaired Loans Impaired Loans 6 months ended Australia 6,010 1,450 694 48% 414 New Zealand 499 82 36 44% 50 Americas - - - - - Asia - 30 28 93% - Europe - - - - - Pacific 47 91 36 40% - Total 6,556 1,653 794 48% 464 Specific Specific Actual 30 September 2021 Defaulted Impaired Provisions for Provisions to Losses for the $m not impaired 2 Loans Impaired Loans Impaired Loans 12 months ended Australia 7,120 1,868 1,009 54% 498 New Zealand 457 148 85 57% 53 Americas - - - - - Asia - 34 33 97% 42 Europe - - - - - Pacific 51 92 39 42% 1 Total 7,628 2,142 1,166 54% 594 1 Geo g raphi c se g me nt atio n of expo su re s is b ased o n th e loc at i on o f t h e of fic e in w hic h t h e s e i tem s were b o o k e d . 2 In c l u d es i t e m s p a s t 9 0 da y s n o t imp a i r ed .

P i ll a r 3 r e p o rt C redi t r i s k e x po s u r e s 44 | W e s tpac G r oup September 2022 Pi l l ar 3 report P o rtfo lios s ubje c t to the st a nd ardis ed approach Th is tabl e p re s e nts ex posur es sub j ec t t o t h e s t an d a rd ised appr o a c h for the c al c u lat i o n of r i sk w eighted a s set s . As at 3 0 September 2022 , e x po su r e s s ubj ect to th e st a nda r d i s ed appro ac h a nd ca te gor is ed b y ri sk w e i ght are p rima rily W estp ac Pa cific , Asian retai l exposu r e s , t h e ma rg i n le ndi ng p ort f o l i o , se l f - m a na ged s upera n n ua tio n fund e x p osu r e s and s ome ot her sma l l po rt f o l ios. Mark - t o - m ar k et re l a te d c r ed i t r isk and q ua li f yin g c e ntr al cl ea r in g c ou nt erp ar ties e xp osu r e 1 is als o incl uded i n th e s ta ndard ised ap proach . 30 September 2022 Total Exposure Risk Weighted Risk Weight % at Default $m Assets $m 0% 1,762 - 2% 3,051 61 20% 1,159 232 35% 361 126 50% 1,174 587 75% 2,652 1,989 100% 4,240 4,239 150% 54 82 Default fund contributions 1 150 105 Mark-to-market related credit risk - 6,377 Total 14,603 13,798 31 March 2022 Total Exposure Risk Weighted Risk Weight % at Default $m Assets $m 0% 1,674 - 2% 2,540 51 20% 1,288 258 35% 347 121 50% 1,242 621 75% 3,106 2,329 100% 3,906 3,906 150% 49 73 Default fund contributions 1 124 91 Mark-to-market related credit risk - 5,691 Total 14,276 13,141 30 September 2021 Total Exposure Risk Weighted Risk Weight % at Default $m Assets $m 0% 1,690 - 2% 4,339 87 20% 1,316 263 35% 372 130 50% 1,293 646 75% 3,624 2,718 100% 3,860 3,862 150% 50 74 Default fund contributions 1 135 104 Mark-to-market related credit risk - 6,278 Total 16,679 14,162 1 Port f o l ios s ubjec t to t he sta nd ardi s e d a p p r o a c h incl ud e e x p o s ures t o qu a l if y i ng cen t r a l c learin g co u nte r parti es u s ed t o cl ear deriv at iv e tr a n sacti o ns. D e riv at i ve c o u n t er pa rty e xpo s ure a n d i nit ial margin a r e r i s k we i g h t ed a t 2 % . D e fa u l t f u n d c ontri b u t io n s t o qu a l i fyi ng cent ral c l earing c ount e r pa r t i e s a re sho wn se p a r a tely a n d a r e s u b je ct t o h igh er ris k we i ght s .

P i llar 3 rep ort Cr e d i t r is k e x p osu res W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 45 Por tf o lios sub je c t t o su p e r visor y r i s k - w eights in the IR B ap pr o ach E xp os ure s subj ect to s u pe rv is o ry risk - weights in t he IRB a p p r oa ch includ e a sse ts ca t eg o ri se d as spe cialise d l e n d i ng, w here a r egu l a t or y capi tal ‘ slot tin g ’ a p pro a ch ap pl ie s. We stp ac ha s proper ty finance an d pr ojec t f inanc e c r e d i t risk expo sur es c a te go r ise d as s pec ia lise d l endi n g . Th e ‘ Cr edit Risk Manageme nt’ se ct i o n o f this re por t d es cri b es th e m a pp i ng of West p ac r i s k gra des t o b oth e x te rnal r atin g equ iva l e nt s an d regu la to ry cap ita l ‘sl ots’. Pr op e rty fina nc e 30 September 2022 Exposure at Regulatory Risk Weighted $m Risk Weight Default Expected Loss Assets Strong 70% 27,701 111 19,392 Good 90% 31,330 251 28,302 Satisfactory 115% 4,226 118 4,900 Weak 250% 627 50 1,567 Default NA 600 300 - Total 64,484 830 54,161 31 March 2022 Exposure at Regulatory Risk Weighted $m Risk Weight Default Expected Loss Assets Strong 70% 28,350 113 19,847 Good 90% 29,863 239 26,980 Satisfactory 115% 3,584 100 4,162 Weak 250% 607 49 1,518 Default NA 653 327 - Total 63,057 828 52,507 30 September 2021 Exposure at Regulatory Risk Weighted $m Risk Weight Default Expected Loss Assets Strong 70% 25,412 102 17,790 Good 90% 27,438 220 24,799 Satisfactory 115% 3,866 108 4,486 Weak 250% 621 50 1,553 Default NA 600 299 - Total 57,937 779 48,628

P i ll a r 3 r e p o rt C redi t r i s k e x po s u r e s 46 | W e s tpac G r oup September 2022 Pi l l ar 3 report P r o j ec t and obje ct financ e 30 September 2022 Exposure at Regulatory Risk Weighted $m Risk Weight Default Expected Loss Assets Strong 70% 2,811 11 1,968 Good 90% 944 8 849 Satisfactory 115% 313 9 360 Weak 250% - - - Default NA - - - Total 4,068 28 3,177 31 March 2022 Exposure at Regulatory Risk Weighted $m Risk Weight Default Expected Loss Assets Strong 70% 6,369 25 4,459 Good 90% 1,083 9 975 Satisfactory 115% 342 10 393 Weak 250% - - - Default NA - - - Total 7,794 44 5,827 30 September 2021 Exposure at Regulatory Risk Weighted $m Risk Weight Default Expected Loss Assets Strong 70% 7,158 29 5,011 Good 90% 1,242 10 1,118 Satisfactory 115% 275 8 316 Weak 250% 120 10 299 Default NA - - - Total 8,795 56 6,744

P i llar 3 rep ort Cr e d i t r is k e x p osu res W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 47 Po rtfo l io s subj ect to IR B a pp r oac hes In the tab le below W e s t p ac ’s transac t ion - m an ag e d ex po su r es a r e class if ied b y t h e e xt e r nal cre d it r a t in g . Eac h ext ernal c redit r ati ng ali gn s to one or more i nte rnally ass ig n e d c r e d i t ris k g r a d e s , as o u tl i ne d in th e ‘C red it Ris k M an agem ent’ sect io n o f th is report. Wes tpac’s int e r n a l ra t ing sca l e h a s m or e r is k gr a des t han doe s the e xte r n a l r a t ing sca l e , a n d a s a re s ult , aver a g e PD ca n v ary fr om p or tfolio t o po rt fol io for the s a m e e x t e r n a l g r a d e . W e stpac’ s p r og r am - man aged ex po sure s a re cla ssified b y P D b and and the avera ge PD with i n a b an d can, l i kew i s e, v a ry f ro m p ortf o lio to po rtf ol io. F o r b o th n on - d ef a u l t ed a n d d e faul ted e x p osures, re gulato ry e xp ected l o ss i s def ined at fa ci l i ty l e v e l . Fo r n o n - d e faulte d e x po s ures, regu lat or y ex p ec te d lo ss is the p r od u ct of PD, LGD and EAD while f o r d ef a ulted e x pos u r es , t hi s is t h e be s t estim at es of lo s s . To t a l re gul a to r y e xp e c t ed l oss as sh o w n in th e t able b el ow i s the s u m of b oth non - de fau lt e d a n d d e f a ult e d r e g u l atory e xp e ct e d loss and gi ve n th e d if fere nce in me th o do l ogy , regulatory e xpected lo s s r ep or t ed is n o t e q u al t o t he p ro d uct o f the c or res po ndi n g r ep o r ted ave r ag e P D , a v e rag e LGD and a g gregate EA D. Co rp or at e portf o lio by ex ternal cre di t ra t i n g Risk Average 30 September 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight AAA 1,695 9 1,703 0.01% 59% - 179 11% AA 5,425 2,074 7,485 0.03% 47% 1 1,009 13% A 27,763 11,937 39,465 0.07% 51% 14 10,254 26% BBB 36,926 24,660 60,667 0.22% 48% 63 29,743 49% BB 26,680 9,188 35,339 1.05% 37% 138 27,071 77% B 619 45 654 4.78% 42% 13 908 139% Other 1,011 302 1,305 19.45% 42% 104 2,810 215% Subtotal 100,119 48,215 146,618 0.56% 46% 333 71,974 49% Default 407 115 879 NA 70% 567 714 81% Total 100,526 48,330 147,497 1.15% 46% 900 72,688 49% Risk Average 31 March 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight AAA 322 9 331 0.01% 51% - 32 10% AA 3,095 1,767 4,844 0.03% 53% 1 829 17% A 17,900 11,939 29,569 0.07% 53% 10 7,947 27% BBB 31,200 26,382 56,699 0.22% 49% 60 28,515 50% BB 25,761 10,882 36,381 1.07% 37% 145 27,997 77% B 692 58 744 4.78% 37% 13 925 124% Other 891 144 1,031 24.46% 40% 102 2,211 214% Subtotal 79,861 51,181 129,599 0.64% 46% 331 68,456 53% Default 466 163 912 NA 60% 508 935 103% Total 80,327 51,344 130,511 1.33% 47% 839 69,391 53% Risk Average 30 September 2021 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight AAA 627 249 876 0.01% 39% - 71 8% AA 3,365 2,063 5,402 0.03% 51% 1 800 15% A 16,818 13,075 29,662 0.07% 52% 10 7,847 26% BBB 29,734 25,297 54,268 0.23% 48% 59 27,318 50% BB 25,011 11,677 36,449 1.11% 37% 147 27,271 75% B 894 137 1,027 4.78% 38% 19 1,331 130% Other 1,158 316 1,467 23.63% 41% 146 3,413 233% Subtotal 77,607 52,814 129,151 0.73% 46% 382 68,051 53% Default 953 132 1,094 NA 54% 543 664 61% Total 78,560 52,946 130,245 1.57% 46% 925 68,715 53% 1 O ut s ta n d in gs ar e b a l a nc es t ha t w e re dr awn d own as a t th e r epo r t i n g d ate and i n c l u d e c er t a i n o f f - b a l a n ce s h e e t i tems . 2 Co mmit t e d un d raw n ba lan ce s a r e com m i tt e d e x p o s u res th at we re n ot d ra w n d o w n as a t t h e re p o rt i ng d ate.

P i ll a r 3 r e p o rt C redi t r i s k e x po s u r e s 48 | W e s tpac G r oup September 2022 Pi l l ar 3 report B u s i n e s s l end in g po r tfol io by e xt e rn al cr e d i t ra ti ng Risk Average 30 September 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight AAA - - - - - - - - AA - - - - - - - - A 147 50 197 0.08% 43% - 43 22% BBB 2,890 1,501 4,392 0.23% 30% 3 1,138 26% BB 35,858 9,890 45,727 1.39% 29% 182 25,157 55% B 804 114 919 4.78% 29% 13 707 77% Other 1,445 222 1,668 22.74% 31% 117 2,427 146% Subtotal 41,144 11,777 52,903 2.02% 29% 315 29,472 56% Default 1,381 105 1,487 NA 24% 311 1,069 72% Total 42,525 11,882 54,390 4.70% 29% 626 30,541 56% Risk Average 31 March 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight AAA - - - - - - - - AA - - - - - - - - A 149 94 243 0.08% 41% - 42 17% BBB 1,363 688 2,050 0.22% 29% 1 524 26% BB 35,310 11,472 46,741 1.56% 29% 211 27,044 58% B 1,078 193 1,272 4.78% 30% 18 1,013 80% Other 1,428 263 1,691 22.12% 32% 120 2,519 149% Subtotal 39,328 12,710 51,997 2.25% 29% 350 31,142 60% Default 1,264 97 1,367 NA 26% 271 1,544 113% Total 40,592 12,807 53,364 4.75% 29% 621 32,686 61% Risk Average 30 September 2021 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight AAA - - - - - - - - AA - - - - - - - - A 179 68 247 0.08% 42% - 46 19% BBB 1,460 548 2,006 0.21% 28% 1 440 22% BB 34,517 10,984 45,432 1.59% 29% 210 26,264 58% B 1,333 235 1,569 4.78% 31% 23 1,283 82% Other 1,511 187 1,697 21.86% 34% 130 2,732 161% Subtotal 39,000 12,022 50,951 2.30% 29% 364 30,765 60% Default 1,371 82 1,469 NA 28% 294 1,794 122% Total 40,371 12,104 52,420 5.04% 29% 658 32,559 62% 1 O u t s t andi ngs are bala n c e s th at were d raw n d ow n a s a t th e r eport i n g d at e and i ncl ude ce r t a i n o f f - b ala n ce s he et i t em s. 2 C om mi t te d u n dr a wn b al a n c es a r e c ommi tt e d e x posur es t h at w e r e n ot d r a w n d ow n as a t the r e por ting dat e .

P i llar 3 rep ort Cr e d i t r is k e x p osu res W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 49 So ve r e ign po r t fo lio by exte rnal c r e di t r a tin g 1 Risk Average 30 September 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 2 Undrawn 3 at Default of Default Default Expected Loss Assets Weight AAA 159,202 311 159,587 0.01% 6% 1 1,040 1% AA 60,550 698 61,544 0.02% 6% 1 1,091 2% A 722 301 1,025 0.05% 33% - 161 16% BBB 138 12 150 0.17% 29% - 25 17% BB 5 13 18 2.10% 35% - 15 83% B - - - - - - - - Other 1 2 3 12.11% 18% - 3 100% Subtotal 220,618 1,337 222,327 0.01% 6% 2 2,335 1% Default - - - NA - - - - Total 220,618 1,337 222,327 0.01% 6% 2 2,335 1% Risk Average 31 March 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 2 Undrawn 3 at Default of Default Default Expected Loss Assets Weight AAA 162,590 279 163,307 0.01% 6% 1 1,078 1% AA 53,148 1,024 55,195 0.02% 7% 1 1,053 2% A 387 246 635 0.05% 30% - 101 16% BBB 56 10 66 0.22% 40% - 24 36% BB 2 14 16 2.13% 37% - 14 88% B - - - - - - - - Other - - - - - - - - Subtotal 216,183 1,573 219,219 0.01% 6% 2 2,270 1% Default - - - NA - - - - Total 216,183 1,573 219,219 0.01% 6% 2 2,270 1% Risk Average 30 September 2021 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 2 Undrawn 3 at Default of Default Default Expected Loss Assets Weight AAA 130,884 280 133,050 0.01% 7% 1 1,324 1% AA 57,360 801 61,655 0.02% 6% 1 1,096 2% A 363 178 542 0.05% 26% - 50 9% BBB 55 10 65 0.22% 40% - 23 35% BB 2 27 29 1.47% 23% - 15 52% B - - - - - - - - Other - - - - - - - - Subtotal 188,664 1,296 195,341 0.01% 7% 2 2,508 1% Default - - - NA - - - - Total 188,664 1,296 195,341 0.01% 7% 2 2,508 1% 1 Ma rch 2022 an d September 2021 So ve r eign EAD have been r es tate d. Refer to June 2022 Pillar 3 repor t for further details. 2 O u t st a n d i n gs a re b a lan c e s t hat were d r aw n dow n as a t t he r epor t i ng da t e a n d in c l u de c e rt a i n off - ba l a n ce sheet items. 3 C o m m i tt e d u ndr a wn b al ances a r e com mi tt e d exp osu r e s t ha t w ere n o t draw n d o w n as at t he r ep o r t ing dat e .

P i ll a r 3 r e p o rt C redi t r i s k e x po s u r e s 50 | W e s tpac G r oup September 2022 Pi l l ar 3 report Ba nk p o r t f oli o b y e xternal c redit r a ting Risk Average 30 September 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight AAA 2,651 22 2,707 0.01% 12% - 127 5% AA 6,831 91 6,864 0.03% 59% 1 1,317 19% A 10,729 366 10,774 0.05% 58% 4 2,666 25% BBB 848 182 959 0.19% 56% 1 454 47% BB 23 17 41 0.92% 57% - 40 98% B 3 - 2 4.78% 60% - 3 150% Other 1 - 1 23.74% 60% - 2 200% Subtotal 21,086 678 21,348 0.05% 52% 6 4,609 22% Default - - - NA - - - 0% Total 21,086 678 21,348 0.05% 52% 6 4,609 22% Risk Average 31 March 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight AAA 2,411 - 2,435 0.01% 12% - 82 3% AA 5,720 232 5,947 0.03% 60% 1 1,247 21% A 11,404 417 11,488 0.05% 59% 4 2,912 25% BBB 1,231 176 1,345 0.20% 55% 1 680 51% BB 23 17 40 0.83% 52% - 33 83% B 2 - 1 4.78% 60% - 2 200% Other 1 - 1 23.74% 60% - 4 400% Subtotal 20,792 842 21,257 0.05% 53% 6 4,960 23% Default - - - NA - - - - Total 20,792 842 21,257 0.05% 53% 6 4,960 23% Risk Average 30 September 2021 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight AAA 2,443 - 2,486 0.01% 11% - 90 4% AA 6,693 120 6,782 0.03% 60% 1 1,358 20% A 10,003 471 10,270 0.05% 58% 3 2,611 25% BBB 1,464 330 1,713 0.19% 59% 2 1,011 59% BB 14 17 31 0.80% 61% - 30 97% B - - - - 60% - - - Other 1 - 1 23.74% 60% - 4 400% Subtotal 20,618 938 21,283 0.05% 53% 6 5,104 24% Default - - - NA - - - - Total 20,618 938 21,283 0.05% 53% 6 5,104 24% 1 O ut s tan d i n gs a re bal anc es th a t w e r e dr a w n d ow n as a t th e r e p ort ing da t e a n d in clud e cer tain off - b alanc e sh e e t i t e m s. 2 Co m m i t ted un d r a wn balanc es are co m m i t t ed e x p osu r es t ha t wer e n o t dr aw n d ow n a s a t t h e r e p o rti n g d ate.

P i llar 3 rep ort Cr e d i t r is k e x p osu res W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 51 Res i denti a l m o rtga ges p o r tfo li o by PD ba nd 1 , 2 Risk Average 30 September 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 3 Undrawn 4 at Default of Default Default Expected Loss Assets Weight 0.0 to 0.10 139,831 45,839 184,024 0.07% 20% 28 12,446 7% 0.10 to 0.25 27,842 9,372 36,510 0.24% 20% 18 5,641 15% 0.25 to 1.0 285,338 30,499 311,768 0.52% 20% 322 78,447 25% 1.0 to 2.5 34,699 3,384 37,178 1.45% 21% 111 18,546 50% 2.5 to 10.0 12,192 574 12,492 4.84% 20% 122 12,062 97% 10.0 to 99.99 10,840 198 11,020 18.62% 20% 410 15,965 145% Subtotal 510,742 89,866 592,992 0.85% 20% 1,011 143,107 24% Default 3,829 29 3,841 NA 20% 394 6,101 159% Total 514,571 89,895 596,833 1.49% 20% 1,405 149,208 25% Risk Average 31 March 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 3 Undrawn 4 at Default of Default Default Expected Loss Assets Weight 0.0 to 0.10 140,674 44,608 183,545 0.08% 20% 28 12,060 7% 0.10 to 0.25 26,650 8,000 33,913 0.24% 20% 16 5,249 15% 0.25 to 1.0 274,769 30,369 300,908 0.52% 20% 311 73,393 24% 1.0 to 2.5 33,753 3,376 36,198 1.45% 21% 109 17,572 49% 2.5 to 10.0 12,304 594 12,608 4.85% 20% 124 11,781 93% 10.0 to 99.99 13,934 248 14,152 19.48% 20% 551 19,655 139% Subtotal 502,084 87,195 581,324 0.98% 20% 1,139 139,710 24% Default 4,477 26 4,486 NA 20% 476 6,738 150% Total 506,561 87,221 585,810 1.74% 20% 1,615 146,448 25% Risk Average 30 September 2021 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 3 Undrawn 4 at Default of Default Default Expected Loss Assets Weight 0.0 to 0.10 143,428 44,117 185,777 0.06% 20% 23 11,042 6% 0.10 to 0.25 77,959 15,059 92,334 0.22% 20% 40 13,932 15% 0.25 to 1.0 213,790 23,049 232,515 0.56% 20% 259 61,105 26% 1.0 to 2.5 35,221 3,738 37,974 1.43% 21% 113 18,819 50% 2.5 to 10.0 12,134 628 12,449 4.60% 20% 116 11,875 95% 10.0 to 99.99 15,507 246 15,720 27.59% 20% 504 21,687 138% Subtotal 498,039 86,837 576,769 1.23% 20% 1,055 138,460 24% Default 5,356 29 5,367 NA 20% 582 7,074 132% Total 503,395 86,866 582,136 2.14% 20% 1,637 145,534 25% 1 T he a bove table reflects that at 30 Septe mb er 2022, 31 March 2022 and 3 0 Septe mber 2021 W es tpac applied a f l oor of 2 5 % t o its re sidential mortgage risk weig h t s . Thi s has resulted in a n $ 8.0 billio n inc r ease t o RW A at 30 September 20 22 , which was $ 4 . 1 bill io n hi gher than 31 March 2022 d ue to impro ved c redit metrics . 2 The ab ove tabl e reflects t hat at 3 1 Ma r c h 2 0 2 2 West p ac r ecalibrated the mortgage P D mod el t o reflec t an i ncr ease i n h ards hip , which r es ulted in re d i strib uti o n of E A D a c ross PD band s. 3 O u t st a n di ng s ar e b a l ance s tha t we r e d r a wn d ow n a s a t t h e repo r t i ng d a te. 4 Committe d un dra wn b a lanc e s a r e c o m mi t t e d expo s ur e s t hat we re n ot dr aw n do wn a s a t t he re p o rt i n g dat e.

P i ll a r 3 r e p o rt C redi t r i s k e x po s u r e s 52 | W e s tpac G r oup September 2022 Pi l l ar 3 report Austr alia n credit c ard s po r t fo l i o b y P D b an d 1 , 2 Risk Average 30 September 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 3 Undrawn 4 at Default of Default Default Expected Loss Assets Weight 0.0 to 0.10 1,835 9,242 7,626 0.05% 79% 3 197 3% 0.10 to 0.25 1,124 3,136 2,911 0.16% 82% 4 225 8% 0.25 to 1.0 1,010 1,017 1,667 0.46% 83% 7 310 19% 1.0 to 2.5 1,025 716 1,536 1.55% 82% 19 699 46% 2.5 to 10.0 825 297 1,001 4.40% 82% 36 932 93% 10.0 to 99.99 237 63 255 25.68% 79% 51 1,061 416% Subtotal 6,056 14,471 14,996 1.00% 81% 120 3,424 23% Default 72 16 72 NA 80% 33 493 685% Total 6,128 14,487 15,068 1.47% 81% 153 3,917 26% Risk Average 31 March 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 3 Undrawn 4 at Default of Default Default Expected Loss Assets Weight 0.0 to 0.10 1,724 9,361 7,567 0.05% 79% 3 196 3% 0.10 to 0.25 1,060 3,331 2,922 0.16% 82% 4 226 8% 0.25 to 1.0 1,015 1,044 1,671 0.47% 83% 7 313 19% 1.0 to 2.5 1,079 735 1,601 1.55% 82% 20 728 45% 2.5 to 10.0 895 306 1,075 4.43% 82% 39 1,004 93% 10.0 to 99.99 272 70 284 26.96% 79% 60 1,015 357% Subtotal 6,045 14,847 15,120 1.09% 81% 133 3,482 23% Default 73 14 73 NA 80% 36 469 642% Total 6,118 14,861 15,193 1.57% 81% 169 3,951 26% Risk Average 30 September 2021 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 3 Undrawn 4 at Default of Default Default Expected Loss Assets Weight 0.0 to 0.10 1,582 9,805 7,647 0.05% 71% 2 177 2% 0.10 to 0.25 931 3,670 2,894 0.16% 73% 3 199 7% 0.25 to 1.0 942 1,148 1,649 0.47% 74% 6 276 17% 1.0 to 2.5 1,097 810 1,657 1.56% 74% 19 687 41% 2.5 to 10.0 964 335 1,158 4.43% 73% 37 963 83% 10.0 to 99.99 297 78 310 28.63% 70% 64 1,404 453% Subtotal 5,813 15,846 15,315 1.19% 72% 131 3,706 24% Default 79 14 79 NA 71% 36 295 373% Total 5,892 15,860 15,394 1.70% 72% 167 4,001 26% 1 The above table reflects th at at 30 Sep temb er 2022, 31 M arc h 2022 a nd 3 0 Septemb er 202 1 Westpac applied a f l oor of 26 % t o it s A u s t ra lia n Cred it Cards ri s k w eigh ts. This h as re s u l t e d in a $ 0 . 5 b i l li o n i n c rea s e i n R W A a t 30 Septemb e r 2 02 2 , which w as $ 0 . 1 billion higher than 31 March 2 022 . 2 The a bove table reflec t s t h at at 31 March 2022 W e stp ac recalibra t ed t he Au str al i an Credi t Cards LGD model . 3 O uts ta n d i n g s a re bal an ces t h a t were drawn down as at t h e r e po r ti n g d a t e. 4 Com m itt ed u ndr a w n b a l a n ce s a r e c o m mi t t ed e x po sur e s that we r e n o t dra wn d own a s at the r e p ort in g d a t e.

P i llar 3 rep ort Cr e d i t r is k e x p osu res W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 53 O t h er re t ail portf ol i o b y PD ba n d Risk Average 30 September 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight 0.0 to 0.10 214 792 696 0.05% 47% - 52 7% 0.10 to 0.25 336 1,110 1,052 0.20% 59% 2 264 25% 0.25 to 1.0 2,274 824 2,949 0.64% 60% 12 1,490 51% 1.0 to 2.5 1,528 674 2,036 1.64% 70% 25 1,796 88% 2.5 to 10.0 1,381 185 1,531 4.85% 74% 59 1,773 116% 10.0 to 99.99 493 29 534 24.56% 70% 96 840 157% Subtotal 6,226 3,614 8,798 2.96% 64% 194 6,215 71% Default 172 10 174 NA 70% 98 511 294% Total 6,398 3,624 8,972 4.84% 64% 292 6,726 75% Risk Average 31 March 2022 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight 0.0 to 0.10 212 889 753 0.05% 47% - 57 8% 0.10 to 0.25 329 1,186 1,094 0.20% 59% 2 276 25% 0.25 to 1.0 2,651 860 3,351 0.65% 59% 13 1,675 50% 1.0 to 2.5 1,862 713 2,394 1.63% 68% 29 2,073 87% 2.5 to 10.0 1,670 208 1,834 4.75% 73% 68 2,071 113% 10.0 to 99.99 624 38 673 24.82% 68% 120 1,037 154% Subtotal 7,348 3,894 10,099 3.14% 63% 232 7,189 71% Default 210 10 213 NA 70% 120 596 280% Total 7,558 3,904 10,312 5.14% 64% 352 7,785 75% Risk Average 30 September 2021 Committed Exposure Probability Loss Given Regulatory Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Expected Loss Assets Weight 0.0 to 0.10 208 992 809 0.05% 47% - 61 8% 0.10 to 0.25 311 1,260 1,130 0.20% 59% 2 289 26% 0.25 to 1.0 2,956 990 3,785 0.65% 58% 14 1,892 50% 1.0 to 2.5 2,152 814 2,775 1.63% 67% 33 2,348 85% 2.5 to 10.0 1,829 233 2,016 4.74% 69% 71 2,171 108% 10.0 to 99.99 712 43 765 25.87% 66% 138 1,130 148% Subtotal 8,168 4,332 11,280 3.24% 62% 258 7,891 70% Default 235 10 238 NA 68% 136 381 160% Total 8,403 4,342 11,518 5.24% 62% 394 8,272 72% 1 Ou t sta ndin g s a re b a l an c e s t h at w e re d r aw n d o w n a s at th e repo r ti ng d a t e . 2 C om mitte d u n d ra w n bala nc es a r e co mm it ted ex p osures tha t w ere not d raw n d own as a t the r e port i n g d a t e .

P i ll a r 3 r e p o rt C redi t r i s k e x po s u r e s 54 | W e s tpac G r oup September 2022 Pi l l ar 3 report Sm a l l bus iness portfo lio b y PD b a n d Regulatory Risk Average 30 September 2022 Committed Exposure Probability Loss Given Expected Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Loss Assets Weight 0.0 to 0.10 201 371 404 0.07% 53% - 46 11% 0.10 to 0.25 125 198 317 0.19% 21% - 27 9% 0.25 to 1.0 4,955 3,444 8,327 0.46% 29% 11 1,785 21% 1.0 to 2.5 12,752 1,605 14,374 1.60% 38% 85 7,243 50% 2.5 to 10.0 2,249 287 2,537 5.10% 35% 47 1,722 68% 10.0 to 99.99 1,311 81 1,395 28.26% 37% 143 1,545 111% Subtotal 21,593 5,986 27,354 2.90% 35% 286 12,368 45% Default 763 65 775 NA 32% 162 1,623 209% Total 22,356 6,051 28,129 5.57% 35% 448 13,991 50% Regulatory Risk Average 31 March 2022 Committed Exposure Probability Loss Given Expected Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Loss Assets Weight 0.0 to 0.10 205 371 406 0.07% 53% - 46 11% 0.10 to 0.25 144 206 339 0.18% 21% - 28 8% 0.25 to 1.0 5,382 3,551 8,852 0.46% 29% 12 1,910 22% 1.0 to 2.5 13,463 1,807 15,282 1.60% 38% 91 7,713 50% 2.5 to 10.0 2,264 341 2,606 4.98% 35% 47 1,760 68% 10.0 to 99.99 1,366 95 1,462 29.13% 35% 147 1,602 110% Subtotal 22,824 6,371 28,947 2.91% 35% 297 13,059 45% Default 695 43 706 NA 33% 175 1,342 190% Total 23,519 6,414 29,653 5.22% 35% 472 14,401 49% Regulatory Risk Average 30 September 2021 Committed Exposure Probability Loss Given Expected Weighted Risk $m Outstandings 1 Undrawn 2 at Default of Default Default Loss Assets Weight 0.0 to 0.10 212 389 423 0.07% 51% - 46 11% 0.10 to 0.25 148 199 337 0.19% 21% - 28 8% 0.25 to 1.0 5,822 3,638 9,367 0.46% 29% 13 2,008 21% 1.0 to 2.5 13,763 1,817 15,564 1.61% 38% 94 7,911 51% 2.5 to 10.0 2,294 283 2,577 5.05% 34% 47 1,730 67% 10.0 to 99.99 1,670 95 1,767 30.64% 36% 194 1,990 113% Subtotal 23,909 6,421 30,035 3.22% 35% 348 13,713 46% Default 830 46 842 NA 33% 196 1,474 175% Total 24,739 6,467 30,877 5.85% 35% 544 15,187 49% 1 O u t s t a n di n g s a r e balan c e s that w er e dr awn d o w n as at t he re p o r tin g d at e an d i nc l ude cer t ai n o f f - b al a n ce s heet ite m s . 2 C o m m i t ted u nd r awn b a la nce s a r e c om mi tted e x p o s ur e s that w ere n o t d ra wn down a s at th e r e p o rti n g da t e.

P i llar 3 rep ort Cr e d i t r is k e x p osu res W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 55 C red it Qu a li t y Act ual lo s se s 30 September 2022 Write-offs Legal and Write-offs from Actual Losses for the $m direct recovery costs provisions 1 Recoveries 12 months ended Corporate 1 - 383 - 384 Business lending 45 - 56 (17) 84 Sovereign - - - - - Bank - - - - - Residential mortgages 7 - 25 (2) 30 Australian credit cards 176 - - (72) 104 Other retail 195 8 - (98) 105 Small business 13 1 23 - 37 Specialised lending - - 1 - 1 Securitisation - - - - - Standardised - - - - - Total 437 9 488 (189) 745 31 March 2022 Write-offs Legal and Write-offs from Actual Losses for the $m direct recovery costs provisions 1 Recoveries 6 months ended Corporate - - 303 - 303 Business lending 23 - 20 (9) 34 Sovereign - - - - - Bank - - - - - Residential mortgages 5 - 18 5 28 Australian credit cards 88 - - (38) 50 Other retail 88 3 - (55) 36 Small business 6 1 7 - 14 Specialised lending 3 1 - (5) (1) Securitisation - - - - - Standardised - - - - - Total 213 5 348 (102) 464 30 September 2021 Write-offs Legal and Write-offs from Actual Losses for the $m direct recovery costs provisions 1 Recoveries 12 months ended Corporate - - 67 - 67 Business lending 69 1 37 (16) 91 Sovereign - - - - - Bank - - - - - Residential mortgages 14 - 59 (2) 71 Australian credit cards 228 - - (92) 136 Other retail 263 7 - (124) 146 Small business 26 2 56 (2) 82 Specialised lending 1 3 3 (6) 1 Securitisation - - - - - Standardised - - - - - Total 601 13 222 (242) 594 1 W rite - o ff s from i ndiv i d ua l l y as s e s s e d p r ov i s i on s .

P i ll a r 3 r e p o rt C redi t r i s k e x po s u r e s 56 | W e s tpac G r oup September 2022 Pi l l ar 3 report Re g ulato r y loss e st imate s a n d a ct u a l lo s ses T h e ta bl e below c om pare s re gul a t or y cr edi t risk esti mate s use d in the ca l c u l a t io n o f ris k w e i gh ted assets t o th e a ve r a g e of actu al out comes o bser ved s inc e th e tim e o f Adv anc ed I RB ac cred i t at i o n for eac h p or t f o l io. P redic t e d param et ers r ep r e s e n t a v e rag e in te r nall y predict ed l ong - run pro b a bi liti es o f def a ult for n on - d e fau l ted ob l i g o r s a t t he st a r t o f each year, a s we l l as d o wnturn es ti mate s of lo ss ( or th e r egul atory m i nimum wh ere req ui red) . Th e y are a ver a ge d u s i n g da t a fro m the fin an cial ye a r s b eg i n n ing at th e tim e of Adva nc ed IRB acc red i t at ion (20 0 8 for most por t foli o s) a nd com p a r e d to o b se rve d o u t co mes over th e sam e p er i o d 1 . Predic te d pa rameter s ar e rev iew ed a nnual ly utili s in g ob ser ve d ou t c om e s from pri o r pe r i o d s as a key i nput. De fault r a t e s At t h e s t art o f eac h year, a p re dict ed d efa u l t prob abi l ity i s ass igne d to a ll n on - def a u l t e d o b l i go rs. T h i s i s averaged o ver t he p o r t folio for t he p eriod s ince IRB acc redi tatio n a nd re por ted as th e pr e d ic t e d def a ult ra te . T h e ac t ual d e f ault ra te refl ec t s t h e f r a cti o n o f o blig or s who s ta rt the yea r n o t i n de fau l t but defa ult d urin g th e on e y e a r p e ri o d . T he o b s e r ve d annual de f ault ra te s a re averag ed ove r the p erio d sin ce IRB accre di t ation . L oss Giv en Def a u lt ( LGD) T he L GD a n a l y sis e xclud e s recent d efaul ts i n o rd e r to a llo w s uffi ci ent tim e fo r th e fu ll w o rk out of t he fa c ilit y an d hen c e a n ac cur a t e L G D t o be de t e r m i ne d. The work o ut p e ri od v a ries by p or tfol io: a t wo y ear w ork out perio d i s ass ume d fo r t ra nsac t i on - m anage d an d r es i d e n tial mortg a g e lendi ng ; and a o n e ye a r per i od fo r oth er progra m - ma nage d po rtf o l io s. E xpo s ure a t Def ault (EAD ) Th e EA D v a r i a n c e c o m pa res t h e ob served EAD t o th e p re d i c ted EAD u p to o ne year pri or to de faul t. Fo r t ransa cti on - m ana ge d po r t fo l i os, p r edi c te d E A D is c u rrent l y mandat ed to b e 1 0 0 % of c o mmi t ted e x posu re s. The ob se rved EAD is a ve ra g e d f o r all oblig ors t hat def a ult ed o v e r t he o b ser va t i o n pe rio d . 2 3 Observed EAD 30 September 2022 Regulatory variance to $m Expected Loss 2 Predicted Observed Predicted Observed Predicted 3 Corporate 900 2.30% 0.88% 46% 25% (22%) Business lending 626 2.26% 1.62% 35% 17% (14%) Sovereign 2 0.25% - - - - Bank 6 0.42% 0.11% - - - Residential mortgages 1,405 0.74% 0.62% 20% 1% (1%) Australian credit cards 153 1.63% 1.52% 74% 58% (2%) Other retail 292 4.69% 3.53% 68% 40% (7%) Small business 448 3.92% 2.91% 38% 7% (9%) Specialised lending 858 NA 2.14% NA 17% (11%) Securitisation - NA NA NA NA NA Standardised - NA NA NA NA NA Total 4,690 Default rate Loss Given Default 1 Pre d i cted p ar am e t er s a re n ot av aila ble f o r spe ci a li s e d len di n g , secu r it i sa t i o n o r sta n dard i sed e xp o s u r e s b ecaus e r isk w e ig hts f o r th es e portf o l i o s d o n ot r el y o n c r ed it e stimat e s and a re s h o wn a s NA in t h e table s ab ove . 2 In c l ud e s r eg u l a t o r y e xp e c t ed l osses f o r defa ul te d an d n on - d efaul ted expos u r e s. 3 A n e g at ive o u tco me i n di c at e s o bs e r ved EAD w as l o we r t h a n p redic te d EAD, wh ich c a n ha pp en beca u s e e xp o s u res we re m a n a ge d do wn pri o r to de fau l t or o ff - b a lan c e sheet it em s or u ndra w n l i m i t s w e r e n o t fu l l y d r a wn pri o r to de fa ul t .

P i llar 3 rep ort Cr e d i t r is k e x p osu res W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 57 Observed EAD 31 March 2022 Regulatory variance to $m Expected Loss 1 Predicted Observed Predicted Observed Predicted 2 Corporate 839 2.30% 0.96% 45% 26% (22%) Business lending 621 2.26% 1.63% 35% 17% (13%) Sovereign 2 0.24% - - - - Bank 6 0.42% 0.11% - - - Residential mortgages 1,615 0.73% 0.62% 20% 1% (1%) Australian credit cards 169 1.66% 1.55% 74% 58% (2%) Other retail 352 4.72% 3.58% 68% 41% (7%) Small business 472 3.88% 2.94% 38% 7% (9%) Specialised lending 871 NA 2.21% NA 17% (10%) Securitisation - NA NA NA NA NA Standardised - NA NA NA NA NA Total 4,947 Observed EAD 30 September 2021 Regulatory Default rate variance to $m Expected Loss 1 Predicted Observed Predicted Observed Predicted 2 Corporate 925 2.22% 0.83% 46% 30% (23%) Business lending 658 2.27% 1.49% 35% 18% (14%) Sovereign 2 0.13% - - - - Bank 6 0.42% 0.11% - - - Residential mortgages 1,637 0.72% 0.62% 20% 1% (1%) Australian credit cards 167 1.68% 1.58% 74% 58% (2%) Other retail 394 4.75% 3.63% 68% 42% (7%) Small business 544 3.79% 2.95% 39% 8% (8%) Specialised lending 835 NA 1.96% NA 19% (10%) Securitisation - NA NA NA NA NA Standardised - NA NA NA NA NA Total 5,168 Loss Given Default Default rate Loss Given Default 1 In cl u d es re gula tory e x p ect ed lo s s es fo r d efa ulte d a n d n o n - de f a ult e d ex p osu r e s 2 A n e g a tive ou t come i nd ica t e s obs er ve d EAD w a s lo w e r tha n pre d i c t ed E AD , whic h can ha ppe n b eca u se e x pos u r e s were m an aged d own p r io r t o d e f a u l t o r o f f - ba l a nce sh e e t item s or u nd raw n l i mits were not f u l ly dr a wn p ri or to def ault .

Pi l l a r 3 r e por t C r ed i t ri sk mit i ga ti on 58 | W e s tpac G r oup September 2022 Pi l l ar 3 report T h i s s ec ti on de sc ribe s the way in w hi c h Westpa c r e duce s i ts credit ri sk b y u s i n g fin ancial co ll a t e ral , gu ar a ntees or c redit de r i v a t iv e s f o r th e C or po ra t e , So v e reign and Ban k asset clas ses. A pproach Westp a c rec o gn i s e s c re dit r i sk mit i g atio n on ly when f o r m a l l e g a l d oc um ent at ion is held that e st a b lishes Wes t pac’ s d irect, irrev oc a b le a n d u nco nditional r e c o urs e to t h e collat er al or to a n u nr e l at e d cr ed i t ri sk m itig a t ion p r ovider. Minimu m sta ndards for re cognis i ng cr e di t r i s k m iti g a t ion ar e set out in West p a c ' s cr e d i t ru le s and p olic ies. All propo sa l s for re cog n isin g r isk mitigati on r eq u i r e a ppr oval by a n a u t hor i sed c r edit off ic er. A uth o r i s e d c r ed i t of fi c er a pp r o val i s also require d for e xisti ng ris k mitig ation t o be d is c o n t i n ue d o r w ithdra w n . Th e am ount of c r e d i t r i s k mi ti ga tio n reco gnised is the fa c e value of t he m i t i gation instr um e n t, a d j us ted by the a pp l i c ati o n o f d iscounts f or an y m a t u r i ty a nd / or c ur r en cy m i s matc h with t he unde r lying oblig ation, so tha t a di s co unt e d a m o u n t i s r e c o gnised w hen calc ulating t h e r es i d u a l e xp os ure a fter mitigation. F or r egulato ry c apit a l purposes: ⚫ ex po s u re s s e cu red by eligi bl e f ina n cia l c ollatera l , eith er c a s h or c er t ain go v er nm en t or s e m i - gov e rnment s ecurit ies, or whe re prot ection is bo u gh t v i a cr edi t l inked n o tes, pro vided p r o c e e d s a r e i nv es te d i n elig ible financial c o l lateral , a r e in c l u ded at the g ro s s v a l u e , wit h risk we ig h t e d a s set s f or the p or tion thu s s e c ur e d c a lcul at e d by a p p lyin g a 5% L GD 1 ; ⚫ ex p osures miti gated by elig ible g u ar ant e es , s t a n db y l e t t ers of c redi t or simila r i n s t ru m e n t s , wh er e W es tpac has direct re co u r se to a n u n rela t e d third party , o r c r e d i t pro tection b ou g h t vi a cr ed i t defaul t swaps wh e r e W es t p ac is e nt i tl ed t o reco v e r eit h er full princi pal o r cred it loss es on o cc urr e nc e o f d ef ine d c redit e v ents , ar e treat e d u n d er d o u b le d ef aul t rule s where the pr ot e c tion pr ovi d er i s r ated A - /A 3 o r b e tt e r . Th e G r oup C hief C r edit O ffic er has t h e au tho rity t o ap p r ov e e xcep tion s t o the A - / A3 m ini mu m ; an d ⚫ expo sures m iti gate d b y gu a r ant ees, l e t t e r s o f cr e dit , c r e d i t d e fault sw a p s or si mi l ar in strum ent s , w h ic h a r e n ot e lig i b le for double defa ult treatme nt a r e t r e a ted u nder th e s u b s t i t u t i on a pproach. Wh en We stpa c u ses c re dit ris k mi t i g a t ion te c hniq ues t o red u ce co unterpa rty exp o su re, l i mit s are a p p l i e d t o b o th gro s s ( i . e . pre - mit i g a tion) an d net expos ure . F u r th erm o r e, e xp osu r e is recorded again st t he prov ide r of a n y cred it risk m i t i g a t i o n and a limit f ra me wor k pr ev e nts e xc ess ive conc e n t r a tion t o suc h c ou nt erp a rties . Netti ng Risk re duct i o n b y way o f c u r re n t a c cou nt s e t - o f f s is reco g n i sed fo r e xposu res t o c r e d i t wo rth y cu st om ers d omiciled in Austra lia and New Ze a l an d o n ly. C ustomer s a r e r e q u i r ed t o enter i nt o for mal ag r eem e n ts gi ving Wes t p a c the un f ette red r ig ht t o set - off gr oss cre d it and d ebi t bala n c e s i n t hei r no min a t e d a c c ounts to d e termin e W estpa c’s n et e x p o s ur e w i t hi n ea ch o f these two jurisdi ctio ns. Cro ss - b o rd e r s et - of fs are no t p e r m i t t e d. C lose - out ne tt ing is un d ert a k en fo r of f - ba l a n c e she et fina nci al m ark e t tra nsactio ns with co unte r p art ies wi t h w h o m W est p ac has e n t e r e d into ma s t e r nett in g agre ement s w h i c h al low s uc h ne tti n g in specified juri sdic tions. Clo s e - o u t n ettin g effec ti v e l y a g g r e gat e s pre - se t tl em ent ris k e xpo s u re at tim e of d e f a ult, t h us r edu ci ng ov e rall exposur e. Coll a te ral v a lua tion a n d m a n ag e men t We stp a c r e v a l ues fina n c i al mar ke t s and asso cia t e d c ol lat e r al p os iti o n s on a daily basis to monitor th e ne t r i sk po sition, a n d h a s f o r mal processe s i n pla ce s o t hat c al ls for coll a t e r a l to p - u p or ex po su re r educt ion are ma de p r om ptly . An indepe n d e n t op e rat i ona l u n i t h a s responsi b i l ity fo r m onito ring the s e p o si tio n s . Th e col l a teralisation arran geme nts are do c u me n t e d via the Cre di t S u p p o r t Ann e x of the In te rna tion al Swa p s a nd Deri vati v e s A ssoc ia t ion (IS DA ) mas t er ag reement fo r de r iv ativ e s tr ansact i o n s a nd Glo b al Mas t e r R e p u rchase A g r e ement (G M RA) f or re pur c h a s e t ran s a ct io ns an d Clearing Agreement s fo r clear ed t r ad e s . 1 Ex c l u d es c oll a tera l ise d de r i v a t i v e tran sa c tions .

P i l lar 3 re p o r t Cr edi t r i s k m iti g a t i o n W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 59 Tot al expo su r e c o v e r e d by collater a l, c red it d er i vat i v es an d gu aran t e e s Impact Total exposure for 30 September 2022 Total before of credit Total after which some credit Eligible Financial Covered by Covered by $m mitigation mitigation 1 mitigation risk is mitigated Collateral Guarantees Credit Derivatives Corporate 149,324 (1,827) 147,497 8,595 2,224 974 210 Sovereign 223,013 (686) 222,327 1,708 685 68 - Bank 24,151 (2,803) 21,348 9,438 2,803 - - Standardised 14,603 - 14,603 2,499 - - - Total 411,091 (5,316) 405,775 22,240 5,712 1,042 210 Impact Total exposure for 31 March 2022 Total before of credit Total after which some credit Eligible Financial Covered by Covered by $m mitigation mitigation 1 mitigation risk is mitigated Collateral Guarantees Credit Derivatives Corporate 130,895 (384) 130,511 4,409 919 718 123 Sovereign 219,329 (110) 219,219 1,210 110 103 - Bank 22,223 (966) 21,257 7,380 966 - - Standardised 14,276 - 14,276 2,033 - - - Total 386,723 (1,460) 385,263 15,032 1,995 821 123 Impact Total exposure for 30 September 2021 Total before of credit Total after which some credit Eligible Financial Covered by Covered by $m mitigation mitigation 1 mitigation risk is mitigated Collateral Guarantees Credit Derivatives Corporate 130,966 (721) 130,245 4,464 1,283 456 10 Sovereign 195,406 (65) 195,341 596 65 116 - Bank 22,443 (1,160) 21,283 7,233 1,160 - - Standardised 16,679 - 16,679 3,046 - - - Total 365,494 (1,946) 363,548 15,339 2,508 572 10 Credit Risk Mitigants Credit Risk Mitigants Credit Risk Mitigants 1 Im p a c t of c re dit m i t i g a ti o n unde r the s u b st it ut ion ap p roach.

Pill ar 3 r e p or t C oun te r p a r ty cre dit ri s k 60 | W e s tpac G r oup September 2022 Pi l l ar 3 report Thi s s ec ti on descr ib e s Westpa c’s e xpos ure to cre dit ri sk a r i si ng f r om der i v a ti v e an d treas u r y produ ct s. Ap pro ac h West p ac acti vel y a ss e ss es and mana g es the derivative and t r e as u r y cr e dit risk ( k n o wn c o l lec t i vely a s c o unte rpa r t y cre d i t risk) ar isin g fr om i t s d er i va ti ve s busi ne s s . Westp ac’ s proc ess for ma naging c o u n t er pa rt y c redi t r is k is ba sed o n i t s ass es sme nt of th e pote n tial fu tur e c re d it risk Westp a c is e xposed to w hen de a l in g i n d e rivatives p r o du c t s and s ecurit ie s fina nci n g t ran s a c tions. We stpa c qu anti f ies t h is r is k thro ug h a daily si mu lati on o f f utu re mar ke t p r ic e an d r ate s h o ck s and c onver t s t he ef fe ct of the se shock s on the ma rk - to - ma rket value o f West pac’s posit ions t o a c r e dit exposure u s i n g W e s t pac ’ s Deriv at i v e Ri sk E q ui val e n t (DRE) me thod ol og y. E x pos ur e s ar e l oaded i n t o Westp ac’ s cred it l imi t m anagem en t s y st em w h er e th e y ar e che ck ed ag a i n s t pre - s ett lem ent r isk li m its tha t a re se t a t the count e rparty level. Lim it e xc e s se s a re r eported to c r ed i t m ana g e rs and a c t ione d w i t hi n s t r i ct timefr ames . S truc t ure a n d or ga n isati on T h e Fina nci al Mar ket s Cr edi t mana ge m e n t t ea m i s char g e d w i th m an aging t h e coun te rpa rty cr ed it exp o sure ar isi ng fr o m derivatives and tr easury prod ucts . M a rk e t rel a ted credit r i sk T h e re a r e two co m p onen ts t o t he r e g ulatory c apit al r equi r eme nt s f or c r edit ri s k arisin g f ro m de riv a tiv e p roduct s: ⚫ c a p it al t o a bsor b l os s es a ri sing f r o m the de fau lt of de rivati v e count erp art ie s ; and ⚫ c apital to abs orb losses aris in g fr o m mar k - to - market v a lu a t i o n m o v ements r e s ulti ng f r om ch a n g es in the cre di t qual i ty of de ri va t ive c ou n t e rparti es. T hese va l uat ion movem en t s a re r ef e rr ed t o a s c redi t valua t i o n adju st men t s (CV A) and t h is risk is so me t im es labelled as CVA risk. West pac re f e rs t o th i s requirem e n t a s m a rk - t o - marke t r e late d c r e di t r i s k . Risk m itig at io n Mi t iga ti o n is a c hieve d i n a numb er of way s: ⚫ t he lim it sys te m m o ni to rs fo r ex c e s se s of th e pre - d e fin ed li mit s, wit h any ex c esses b ein g n ot i fi ed to autho r ised c redit offic ers; ⚫ W e s tp a c has netting ag r e e me n t s wit h counte rp a r ties to a ll ow t h e exposure acr os s a po r tfo li o o f trades w i th t he same c ounter par t y t o b e net t ed ; ⚫ W e st pa c h as col l a t er a l ag re e ment s w ith i t s lar ges t c ou nterpa r ties . T he mar ke t v alue of the counte rparty’s po rtfo li o is u s ed t o recalcul a t e t h e c red i t posit io n at e ach e nd of d a y, with c olla te ra l be i ng ca l le d for when ce r t ain pre - s et l i m its ar e me t or e xc e e d e d. W es t pa c ex c h a ng e s In it i al M a r g in wi t h eli gib le co unterp a rtie s f or eli gi b le products a s prote ction again st p ot e n ti a l fut u re exposur e t o c h a n ges i n mark et v alue ; ⚫ W e st pac h a s initial mar gi n agre e men ts wi th qualify ing c ounterpar ties s ubj e ct to relev a nt i n t er na ti o na l re g u l at i ons. T h e ex c h a nge o f i nit ial ma rg in for elig ibl e p rod uc t s covers the p otenti al future e xpos ur e th a t cou l d arise fr o m ch a n g e s i n the ma rk e t val ue o f d eri v a t ive trans acti on s over the c l os e - out peri od i n the even t of a co u nt e rpa rty d e fa u l t ; ⚫ cr ed i t deri v a t iv e s ar e u sed t o mitig a te cr edi t e xp osure a gain st cer ta i n c ou nterparties ; and ⚫ r egular mark ing to m ar k e t an d settling o f th e f o rei g n excha ng e comp one n t s of f o r eign exch ange r es et c o ntr ac t s. Counterp art y derivativ e ex p o sur e s a nd limit s T h e r is k ma n ag emen t m et h odol og y for c o unter p ar ty der iva ti ves ex p osur es is sim il a r to the cred i t meth odology for tra ns a c ti o n - man a ged loans. T h e m a i n di f f erence i s in t he e s ti mat i o n of the e xpos ur e for d eri va t iv e s which i s b a s ed on the DRE m eth o do l ogy . DRE is a c re di t e xp osur e m ea s ure fo r der i v a tive t ra des wh ich i s cali b rate d t o a ‘l oa n - e quivalent’ e xposur e. Counter part y c r ed i t lim i ts are app r o v ed o n an u n commit te d and una d v is ed b a s is by aut hori se d cred i t o ff i ce rs . This f oll o w s an eval uati o n of e a c h c ounte r pa r t y ’ s cr ed i t wort h i n es s and e s tabl i s h ing a n a gre ed cre di t ri sk appe tit e f or th e n ature and e x tent o f prospecti ve b us i n es s .

P i l l a r 3 r ep or t C o u n te r p ar ty c redit r is k W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 61 Wr o ng - way ri sk e xp o s u r es W e stpac de f i nes wro n g - w ay r i s k as expo sure t o a co u nte rp a rt y which is ad v e rsely cor rela t e d w i t h the cred i t q u a l it y of th at c o u n te r part y. With r e spect to cr edi t d er ivat iv e s, w ron g - w ay ri s k refers to c r edit p rotection p urch as e d f r o m a c ounterpar ty h ig h l y cor r e lated to t he r efe r e nc e o b l i gation. Wron g - wa y ri s k e xp o su re s using cre d i t derivat ives a re c o n t rol led b y o n l y bu yi ng pr otec t i o n f rom hi g hly r a t ed co u nt erp art ies . Thes e t rans act ion s a re as sessed by a n autho rised credi t of fi c e r w h o ha s the righ t to d e c l i ne a n y tran sa c t ion whe r e t hey f e el there is a n un acce p tab ly hi gh correla tio n between t he a b i lit y t o pe rform un d e r th e tr a de and t h e p erfo rm a nce o f the u n de rly ing co un terp ar t y. C ons equ enc es of a downgrad e in We stpac’s cre dit ra t i ng A dow n grade in We st pa c ’ s cre d i t rati ng c an h ave a n imp a c t on Westp ac’s c ol late r al ag r ee me nts. Whe re a n outright thr e s hol d a n d m inimu m t r a n s fe r am o un t ar e a gr e ed, th e re w i l l not b e any im pac t on t he amou nt of col la t er al posted b y Westp ac in the e vent o f a c r e dit rating do wn gr ad e . W her e the th re s h old and m in imu m t ransfer a moun t ar e ti e red a c co rd ing to c red i t rating, the i m pac t o f We stpac be i n g do wn gr a de d be l o w i t s cu rr e nt c r e d it ra t in g w oul d b e: for a one not ch dow ng r ad e, postings of $ 8 million ; w hile f o r a t w o n o tch dow n gr a de , p o s t ing s wou ld be $ 1 7 m i ll i o n 1 . C o u n terparty cred i t r isk s umm ary 30 September 31 March 30 September $m 2022 2022 2021 Gross positive fair value 42,189 19,124 20,563 Netting and collateral benefits (29,541) (13,138) (13,043) including cash collateral held 284 5,170 861 Replacement cost 12,647 5,986 7,520 Potential future exposure 11,374 10,824 9,930 Impact of scaling factor of 1.4 and incurred credit value adjustment 9,385 6,566 6,863 Net derivatives credit exposure under SA-CCR 33,406 23,376 24,313 Exposure type Interest rate contracts 5,989 5,805 8,940 Foreign exchange contracts 26,860 16,639 14,495 Equity contracts - - 1 Credit derivatives 9 20 7 Commodity contracts 548 912 870 Other - - - Total 33,406 23,376 24,313 Credit deri va tive t ransa ct io ns that c r eat e e xpos u r e s t o co u nter p art y cr e d i t r isk 30 September 2022 Intermediation activities Credit derivatives products used ($m) Bought Sold Bought Sold Credit Default Swaps 7 2 - - Total Return Swaps - - - - Credit options - - - - Credit linked notes - - - - Collateralised Loan Obligations - - - - Other - - - - Total 7 2 - - 31 March 2022 Intermediation activities Credit derivatives products used ($m) Bought Sold Bought Sold Credit Default Swaps 2 19 - - Total Return Swaps - - - - Credit options - - - - Credit linked notes - - - - Collateralised Loan Obligations - - - - Other - - - - Total 2 19 - - Westpac Portfolio Westpac Portfolio 1 C r e d it r atin g do w n g rade p os ti ngs a r e cu m u la t i v e .

Pill ar 3 r e p or t C oun te r p a r ty cre dit ri s k 62 | W e s tpac G r oup September 2022 Pi l l ar 3 report 30 September 2021 Westpac Portfolio Intermediation activities Credit derivatives products used ($m) Bought Sold Bought Sold Credit Default Swaps - 7 - - Total Return Swaps - - - - Credit options - - - - Credit linked notes - - - - Collateralised Loan Obligations - - - - Other - - - - Total - 7 - -

Pil l a r 3 repor t S e c u ri ti sat io n W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 63 A s ecuritis a t ion i s a f in anc ia l struct ur e w h er e the cash fl ow f rom a poo l o f as s et s i s used t o s e r vi c e o b liga t io ns t o a t l e a s t t wo d i f f e r ent tranc h e s o r cl a s ses of credit or s (typicall y hol d e rs o f debt s e cur iti e s ) , w i t h e ac h c la s s or t ra nch e refl ect i n g a dif fe rent deg r e e of cred i t ris k (i.e. on e cla s s of cr editor s is e nti tl ed t o r ecei v e p ay me nts f r o m t h e p oo l befo r e anot her c l a s s o f cre d i t o r s). Secu r i t is a t io n transac tions ar e generally grou p e d in to two b r oad ca t e g or i e s : ⚫ t ra di t io n al or tr ue sale s ecu r i t isatio ns , which i n volve the tr ans fe r of own er shi p o f the under ly ing ass et poo l t o a t hi r d pa rty; a n d ⚫ s yn t he t i c tr a ns acti ons , w h e r e t he o w n e r s hip of th e u nd e r ly in g asset pool rem a ins wit h the o r i gi na tor and o nly the c re d i t r i sk o f t h e p o o l i s t ransfe rre d t o a thir d p arty, using cred i t der iv atives o r gu ara ntees. Cover ed b on d t ransac t ion s, i n whi ch bon d s i s s u e d b y W est p a c a re g u a ra n t e ed b y as s e t s h e ld in a s p ec i a l pu rpose vehicle , a r e not c on side r e d t o be secu ri tisation tr a n s a c t ion s . A p pro a c h W est pac’s inv ol v em ent in se curiti sation ac ti vitie s ranges f ro m a s eller of its ow n a ss ets to a n i nves tor i n thir d - p a r t y t ra n s a cti o n s a nd i n c lu d e s th e arr a n g i n g of tr an s ac ti o n s , t he provision of s ecuriti sa tion s e rv ic es and th e provisi on o f f u ndi n g f o r c l i e nt s, includ ing c l ie nts re qui ring a ccess to ca pital m arkets. A l l s ecu ritis ation ac tivity must fol lo w Westpac ’s cre dit polici e s and a pp ro val pr o ce s ses. Se cu r i t isatio n of W es t p ac ori ginate d a sset s - S ec urit i sa t i o n i s u s e d by We s tpac a s a f u n d i n g a nd l i qu i dit y m a n a ge m e n t tool and may also be used as a c api ta l manag ement tool . I t all o ws W estpac th e ab il ity to li qu e fy a pool of asse ts and incr e ase We s t p a c’ s wh o les a l e fu n ding c a pa c i ty. W e stpac may p r ovide a rm ’s le n gt h f a ci l i t ies an d servi ces t o t h e s e cu r i t isation v e hic les . The se t ypi call y in c lude the pr ov i s i o n o f liqui dit y , redra w facil i ties and de ri v a ti ve contract s. Westpac has ente r ed int o sel f secur iti s ati o n tr an s a ction s for fun d i ng a nd l iqu idity p urposes . Thes e ar e t h e s a me a s t ra ditio nal s e c u r i ti s ati o n s , exce p t that W es tpa c i s the hol der of all classe s of no tes iss ued (othe r than where s e nior n otes h ave been pledged as elig ible collateral with the RBA) . T he se ni o r no t es qual ify a s elig i ble colla te r al with the RBA, and ar e p le dged ag ain st th e T e r m Fund i n g Facil ity prov ided b y t he RB A an d m ay als o be us e d t o ple d ge agains t the Committ ed L i q uidity F a cili ty a nd m eet APRA ’ s c ont in g ent l iquidit y r eq uiremen ts 1 . Th ese ‘ s e l f s ecuriti sat i o n s ’ do n ot cha n ge r isk w eig h t ed ass e ts 2 . N o s ecur iti sation tra n s a c t io n s f o r West pa c originated a s se ts ar e cl a ss i f ie d a s a res e c u r iti s a tio n. Sec u ri ti sat i on i n th e man age m e n t o f W estpac’s cr ed i t p or tfolio - Westpa c may u se se curit is ation, i n c l u di ng por tfol io c re d i t de f ault s w ap s , to m ana g e i t s c o rpora t e a nd i nst itutio na l l o an and co unterp a rt y credit r is k p ortfoli o s. S in g l e nam e c r edit d e fau l t sw aps ar e n ot tr e at ed as s e cur iti s a t io n s b ut as cr edi t r i s k m itigatio n facil iti es . Tr ansac ti ons ar e e n t e re d i nto to ma na ge c ount e rparty cr e d it r i sk o r c o nce n trati o n r isks . W estpac a l s o i n ve st s i n secu ritisation ex pos u res . Pro v isi on of secu r it i sati o n serv i ces, incl udi ng funding a n d a rr a ngi ng asse t backed bond iss ues – Westp ac provi des s er v i ces t o client s w i s hing t o a cces s as se t - back e d fina nci n g throu g h sec u r i ti sat i on . T hose se rvices i n c l u de t he p r ovi si o n o f wareho us e a n d term f u ndi ng of secu r it i sed a s s ets a nd arrang ing asset bac ke d b o nd iss ues . Westpac may also invest in asset backed bond issues an d wil l r e c eive an in te re st mar gi n for securities held. Se cu r it i sa t io n faci liti es prov ided b y We s tp a c i ncl ud e resecurit is a tion exposure s w hi c h are secu ri tis a t ion ex posures i n whi ch the risk a ssoc iated wi th a n u n d erl yi ng pool of e xposu res is tr a nched and a t l ea s t on e o f th e und erl y i n g expo s ures is i t s e l f a sec urit is a ti o n e xp osure. Wes tpac al so b u y s an d s e l l s se cu r itisation ex p osur e s in the se co n dary m arke t to f a cilita te port fo li o m ana gem ent a ct ivit y by i ts ins ti t u t ion al cu stomers w ho ho ld asset b acked bonds . W es t pac ’ s r ole i n t h e s e c uri tis a t ion p ro ce s s S ecur iti sati on ac t i v i ty Role pla y ed by W est p a c S ec u r i t i s ati on of Westpac o rigi n a ted ass et s ⚫ A r range r ⚫ As set or i g inator ⚫ Bond d is tr ibu tor ⚫ Fa cili ty pro vider ⚫ N ot e ho ld e r ⚫ Tru st ma nager ⚫ Swa p pro vider ⚫ Ser v icer Secu ri t i sa t ion i n the m ana g eme n t of We s t pac’ s c re d i t port fol io ⚫ H ed g er - p ro tectio n p u rchaser ⚫ In v e s t o r - p r o t e cti on selle r 1 A P S 2 1 0 u pd a ted c onting ent l i quid it y g u id a nce requi res from 1 March 2 02 2 , s elf secu r itis ati o ns t o cov e r 3 0 % of AUD net c ash o u t flow s 2 Th e cr e di t e x p os u re s of the u n derl y i ng loa n s a r e measured i n a cco rdan ce w i t h A P S 113.

P i l lar 3 rep ort Se c u r it isa tio n 64 | W e s tpac G r oup September 2022 Pi l l ar 3 report P ro vi s i o n of sec u r itisa tion servi ce s in c l u d i n g fu ndi ng a nd ar ra ngi n g as set backed bond is s ue s ⚫ Ar r a n g er ⚫ B o nd d is t r i bu t or ⚫ Wareh ouse fin anci ng ⚫ Inv es to r - purchaser o f s ecurit isatio n e x p osures ⚫ L iq u id i t y fa cil ity pr ovider ⚫ Sw ap prov id e r ⚫ M ar ke t m aker a nd broker f or dis tr i buted b o n ds Ke y Ob je ctiv e s S ecur it isation of W estp ac o r igi n a t ed assets - The securitis ation o f W estp a c' s ow n a s sets provid e s f u n di n g div e r s i ty , and is a c ore t o ol o f l iq u id i t y ma nageme n t. Secur iti s a ti o n i n t he ma nagem e n t of W e s t pac’s c r e di t port f olio - We s tpac a c t s as p ri nc ip al i n t r ansa ct ions and may bu y a n d se l l pr otection in o r der to me et its p or tfol i o m ana g e m e nt o b jectiv e s. W e st p a c als o p ur c h ases s ec u ri ti sa ti on exp os u re s i n o rder t o earn in c om e. P rovisi on o f secu r i t i s at i o n s e rvices in clud i ng fundin g and a rra ngin g a s set b a c ked b ond issue s - We s tp a c r ec ei v e s ma rk et - bas e d fees in r etu rn fo r i ts ser vic es as se rv ic e r , swa p p rovide r , ar r ange r and f ac i lity p ro vide r a n d progra m f e es , in terest ma rg in s a nd b ond di st ribu tio n f e e s o n w a r ehouse a nd ter m fu nd in g f ac iliti es . W e stpa c f acil i tate s po r t f o lio ma n age me nt a ctiv it y b y i t s instituti ona l c us t o m ers by bu ying and s el l i ng se c uritis at io n expos u res i n th e se c ondar y m arke t a n d is com pe n s at ed t hrough an i nt e re st m argin an d bi d - o f f e r s p r ea d o n the tr ans act ions . St ruc tu re an d o rg a nisa t i o n Se c urit isat i o n of Wes t pac o ri g i nate d ass e ts - Westpac’s Tr ea s ur y o perati ons are res po ns i b le fo r all W es tp ac orig i nate d sec ur it i satio n a ctiv it y in cludin g f u nd in g and li qui dity ma nag emen t . S e cur it isa t i o n in t h e manag eme nt of West pa c’ s c r e dit por t f o l io - W e stpa c ’ s exp os u r e ari sin g fr o m s e curi t is ati o n, in clu di n g p or tfol io h e dging , is ma n a ged b y Westpac Instit utio na l Ban k (WI B ) and in t egrat e d with in W e s t pa c’ s standard ri sk r epo rt in g a nd mana gem e n t s ys tem s . P r ov is i o n of s ecu rit isation s er v ic e s includ i n g fu nd i n g and arr angin g as set ba c ked bon d issues - T hes e serv ice s a re pr ov id ed by W IB and i ncl u d e the pro visi on of l iq uidit y , cr e d it en ha n cemen t , fund in g an d d e r i vativ e fac ilitie s , serv ic e r a nd a rra n g er se rvi c e s , a n d m a r ket - maki n g and bro ki ng of a sset - ba c ke d b on d s . Ris k re po r ti n g C r e d it e xpo s ure - Fu ndi n g , liq ui dity , c re d it en ha nc ement a nd red r a w f a c iliti es, swap ar rang em ents a nd c o u nterp ar t y exp o su res ar e ca ptu r e d and monit ored i n k ey s ou r ce syst ems a lon g wit h o t h e r f a c i lities/d e ri vatives e nt ere d into by We s tp ac . O pera t ion al ri s k e x p o sur e - T he o pera tio n a l ris k revi ew pr o ce s s fo r Westp a c in clu d e s t h e iden tifi cati on of r is ks, c o ntro l s and ke y perf o rm ance i n d ic ato r s in re latio n to a ll secu ri t isa tion ac t i vit y and s e r v i c es p r ovided b y W estpac or a ny o f its su b si d ia ri e s . Mar k et ri s k e x po s u r e - Exp o sur e s ar isi n g f rom t rans act i o n s w it h c ount er parti e s are captu re d as p art of Wes t p a c’s t r ade d and n on - tra ded m arke t ri sk r epo r t ing a nd l im i t man a geme nt fram ew ork. Li qu id ity r i s k e xp o s u r e - E x p osur e to , a nd t he i m pac t o f , se c urit isa t i o n tr an sact ion s a re ma na ge d und e r th e L i q uid i t y Ris k Ma nage men t F r am ework and ar e int eg r ated into ro uti n e rep o r t ing f or ca pital and l iqui d i ty pos iti o n s, ne t i n te r es t m a rgin analys is , ba lan ce s heet f o r ec as t i n g a nd f u ndin g sc en a ri o te s t i ng. Th e ann u al f und i n g pla n inco rpo ra t es co ns id erati o n of ov e r all l iquid ity risk li mits a nd th e secur itisa ti o n of Westpac or i g i nat e d ass e t s. Ri sk mit iga ti on S e c ur itis ati o n of W est p ac or igi n ated assets - The in te re st r a t e an d b a s i s ri s k s gen e rat ed by W es t p a c’s he d g ing arra nge m e n ts t o each se cu r it i sa ti on trus t are ca p t ure d and m anag ed w ith in W es tpac’ s asset and li a bilit y manag eme n t fra m e w ork . The l iquidi ty ri sk g e n er ated by W est pa c’s li q ui dit y and redraw f acil iti es t o ea c h s ec ur i t i s at io n t rust is ca p tu r e d a n d ma n ag e d in acco rda n c e wit h West pac ’s li q ui di ty mana g e men t p o l ici e s alon g wi th a ll othe r conti n gent l iquid it y faci lities. Se c u r iti s a t ion i n the manag eme nt of W e st pac’ s c r e dit p ort f ol i o - T r ansa ctions ar e ap pro ve d in a c c o r da nc e w i th W e s t pac’ s cr ed i t r i sk m i tig a ti o n ap p roac h ( s e e pag es 5 8 and 59 ). Pr ov is ion o f sec uri t i sat i o n ser vice s in clu ding f undin g and a rrang in g asse t backe d b o n d is su e s - A ll s e curiti sat i o n tra n sa ctio ns a r e a pp rov e d with i n the context o f a sec ur it isat i o n c r ed i t p olic y t hat s ets deta i l ed t r an s a ct i on - s p ecif ic g ui de l i ne s that r egu la t e s er vicer c ou n ter p a rty r isk appet ite, tr a nsa ct ion t e nor, a sset cl a ss, t hird pa rty c r edi t s u p p o r t an d portf oli o qu ali t y. Thi s p o l icy i s a p plied i n conj unction w it h oth er c redi t a n d ma r k e t ris k

Pil l a r 3 repor t S e c u ri ti sat io n W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 65 p oli c i es that g o ve rn s t h e p r ovis i on o f d e ri va t i ve and oth er se r v i c es that s up p ort s ecu ri tis ation transa c t ion s. In p a rticul ar, c re d it he dging t ran s a c tio ns a r e s ubje c t to W est p a c’ s c r ed it r isk m iti ga tio n appro a c h (se e pages 5 8 an d 59 ) . Any i n t e r e st r a t e o r c u rre n c y h edgin g is s u bj e c t t o co u nter par t y cr e dit risk ma nag em e nt ( s ee pag e s 6 0 t o 6 2 ) and marke t risk m ana ge ment ( see pa ges 7 3 to 7 6 ) polic ies an d p ro c e s s es . R e gulat o ry c a pi tal ap proa che s The r egu l atory c a p ital t reatmen t of a l l se cu ri t i s a t i on ex p o sur e s is m e asu red i n ac co r da n c e w i th A PS1 2 0 . APS 12 0 specif ies tha t s ec u ri tisati o n e xpo s u res h el d in t h e tr adi ng b oo k are subjec t to th e req u irement s of P r ud en t i a l S t a n d a rd AP S 11 6 C a pital Adeq uac y : Ma rk et R isk. Un d e r APS1 20 the a pproa c he s em pl o y e d i nc l ud e the E x te r n a l R ating B as e d A p p r oac h ( E R BA) a nd th e Supervis ory For m ul a A pp roach ( S FA ). U n der t he ERBA, APRA pr ovid es risk - weight s that a re m a tched t o ex te r na l c r e d it r a t i ngs a n d t ak e s into acco unt t ran ch e m a turit y a n d tran che thi c kness . T he S FA a p p l i ca b le t o u n r a te d e xpo sures d yn a m i c a l l y l o ok s at th e typ e and perf orma nce of u n de rlying a ss et p o ol s f un ded by the sec urit is ation exposu re as w e ll a s the st ruct ur a l fe a t u r es o f t he tr a nsa ct i o n to d eter min e cap it al r equir em e n ts . Th e Inter n al As s es sm en t A p p r o a ch (I A A ) i s n o t p e rmi tted u n de r A P S 1 2 0. Se c u rit is at ion o f Westpa c or igi n at ed as sets - T he as s e ts so ld by We s tpac to a s ec uriti s ation trust a r e ex c luded f rom We s tp ac ’ s c al c u l a t ion o f cr ed i t risk weig hte d ass et s i f capi ta l relief is sou g ht an d t he r eq u i r e m e nt s o f APS 1 2 0 a r e sat isfie d 1 . I n in stan c es w h er e i n suf fic ient ri sk tra nsfer i s ac hie v e d b y the tr an s ac t i on f or r egu lat o ry purp o ses, the capi t al c a lcul ati o n i s p erfo r m ed o n t h e unde r l ying a ss et p o ol whi le the fa c i l it i es pr ovi de d to s uc h secu r it is a t ion v e h i cl e s d o no t a tt ra c t regula t ory c apit al c h arg e s . Se c u rit isa tion in th e m anagem e nt o f W e s tpa c’ s c red it po r t foli o - Sec uri t is ation expos ures are asse s sed usi n g e it h er t h e ER B A o r SFA a p p roac he s. Pro v ision of sec uri t i s at i on se rvi ce s inc l ud ing fu n di ng - We s t p a c u s es t he E R B A an d the SFA met ho dolo gy w h en d e te rm i n ing re gulator y c api tal re q ui re men t s fo r war eho us e a n d ter m fu ndi ng client f ac iliti e s . Th e Ext ernal Credit As s e s s m e nt I n s ti tu ti ons th at c an be us e d b y We stp a c f or s e c u riti s a tio ns ar e S tanda r d & Poor ’ s , M o o d y’s a n d Fitch . W est pac’s a cc ou nti n g po l i cie s f or se c u riti sati on act i vi ties S ecuri tisa tion of W e stpa c o r ig i n a ted a s s ets - T h e asse t s sol d by West pac to a sec uri t i s a t i on t r u st r em ain on W es tp ac’ s b a lan ce s hee t f o r ac c o u ntin g pur poses . S ecuri t isat ion i n t h e m ana g e m ent of Wes tpa c’s cr e di t por t f oli o - F or ri s k m i tiga tion using sy nthet i c sec urit isat i on, t he u nd e r ly i n g asse t s re ma i n o n Wes t p ac's bal ance sheet for ac cou n t i n g pu rp o s es . Th e a c co un ti ng tr e at m ent of the as s ets w i l l de p e nd on th eir natu r e. T hey c o u l d i n clu d e loans a nd rec eivabl e s, a vai l a ble f or sal e s ec u r itie s or deriv a ti ves. T he mo st c ommo n fo r m of sy n t he t i c secu r i tis at i o n is vi a a cr edit defa ult sw ap, wh ich i s t r ea te d as a d eri v at iv e an d r e co g nis ed i n t h e p rofi t a nd l o s s s tatem ent at f a ir v alue . F o r i n ves t m e nt in s ecu rit isatio n e xp osu r e s, i f th e i ns t ru m e nt h as b een de s ig nated on in itia l re c ogn i t ion at f ai r v alue ( i ncl ud i n g instr u m ents con taini ng a c redit def a u l t s wa p) , th e ex pos u re w il l be m ea s ure d at fa i r v alue t h roug h the Inco me State m ent. All o t h e r i nve s t m ents in se cur itisat i on e xpo s u res w ill be c l as s i fied as availa b le - for - s ale ( AFS) and mea s u red at f ai r v alue t h rou gh O t h er Co m p rehe nsiv e Inc ome (w ithin the A F S s ec ur i t ie s re ser v e) . Pr ov isi o n o f s ecur iti s at i on s e r v ices i ncl uding fu nding and arra n g i n g as set b acked bo nd issues - F ee i nco m e fr o m th ese s ervi c es i s re cognise d o n an accru al basis . Li q u idity a n d f u n ding faci l i t ie s a r e t r eate d as comm itmen ts to provi d e f i n a nc e , wi th f ee a nd m ar gin i n com e r ecognis e d o n an a c crua l bas is. W are house and term f u n d i ng f a c i litie s a re trea ted as l o a ns . 1 I ncl udi n g the requ i reme n ts t o a ch i e v e c a p i t al rel i e f.

P i l lar 3 rep ort Se c u r it isa tio n 66 | W e s tpac G r oup September 2022 Pi l l ar 3 report Ban k i ng boo k summ a ry o f as sets se cu r itis e d by Westpac T his t able s h o ws o u tsta nding b a nk i n g b oo k sec u riti sati on as se ts and as s e ts i n te n d e d to b e s e cu ri ti sed 1 2 f or Wes tpac or i gi n ated a s sets b y u nderl yin g ass e t ty pe. I t i n c lu de s t he am oun t of im pai red a n d pa s t du e ass ets , alon g w i t h an y losse s r ecog n ised by Westp a c d u r ing th e cu r r e nt p eriod . S ec u r i t i se d ass e ts a re h eld i n securitis a t io n t ru s t s . Trus ts w hi ch m eet r e qui rem ents to ac h ieve c a pita l rel ief d o n ot fo r m pa rt o f t h e Le ve l 2 cons oli dated g rou p. Se l f se c u rit i s ati on tr usts re m a in c onsolid at e d at Level 2 and t h e a s s ets tr a n sf e r r ed t o the s e tr u s t s ar e ris k wei ghte d in ac cordance w i th A P S1 1 3 . Assets Westpac 30 September 2022 Traditional Synthetic intended to be Impaired Past due recognised $m Securitisation 2 Securitisation securitised loans assets losses Residential mortgages 144,529 - - 41 829 - Credit cards - - - - - - Auto and equipment finance 347 - - 9 - - Business lending - - - - - - Investments in ABS - - - - - - Other - - - - - - Total 144,876 - - 50 829 - Assets Westpac 31 March 2022 Traditional Synthetic intended to be Impaired Past due recognised $m Securitisation 2 Securitisation securitised loans assets losses Residential mortgages 144,276 - - 35 927 1 Credit cards - - - - - - Auto and equipment finance 571 - - 12 - - Business lending - - - - - - Investments in ABS - - - - - - Other - - - - - - Total 144,847 - - 47 927 1 Assets Westpac 30 September 2021 Traditional Synthetic intended to be Impaired Past due recognised $m Securitisation 2 Securitisation securitised loans assets losses Residential mortgages 141,414 - - 41 1,075 - Credit cards - - - - - - Auto and equipment finance 861 - - 13 - - Business lending - - - - - - Investments in ABS - - - - - - Other - - - - - - Total 142,275 - - 54 1,075 - Total outstanding securitised by ADI Total outstanding securitised by ADI Total outstanding securitised by ADI Ban ki n g b o o k su mm a r y of to tal W e s t p a c sp o n so re d t h i r d p a rty ass et s se curi t i s e d T his t able rep r esen ts ba nki n g b ook third party assets wh e re West p ac ac t s a s a sp o nsor. $m 30 September 2022 31 March 2022 30 September 2021 Residential mortgages 131 151 111 Credit cards - - - Auto and equipment finance - - - Business lending - - - Investments in ABS - - - Other - - - Total 131 151 111 1 R e p re sen ts s e c uri t i s atio n act ivit y fro m th e en d o f th e r epor ti n g p eri o d t o t he d is c losu r e d a t e o f thi s r eport . 2 Inc lud es sel f - se cu ri tisation asse ts of $ 1 39,11 7 m illion as a t 3 0 Sep tem ber 20 22 ( $1 38, 9 37 million as a t 3 1 Ma rch 2022 and $136 , 2 66 million as at 30 Septemb e r 2 0 2 1 ) .

Pil l a r 3 repor t S e c u ri ti sat io n W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 67 B a n kin g b ook su mma ry of secur it isa t i o n ac t i vity by asset type Thi s t a b l e sh ows a s set s t rans f e r r ed in to sec uriti satio n s c h e m es b y un de r ly in g ass e t typ e ( A DI o r i g i n a t ed ) fo r the rel ev a nt p eri od . For the 12 months ended 30 September 2022 Amount Recognised gain or $m securitised loss on sale Residential mortgages 46,995 - Credit cards - - Auto and equipment finance - - Business lending - - Investments in ABS - - Other - - Total 46,995 - For the 6 months ended 31 March 2022 Amount Recognised gain or $m securitised loss on sale Residential mortgages 23,921 - Credit cards - - Auto and equipment finance - - Business lending - - Investments in ABS - - Other - - Total 23,921 - For the 12 months ended 30 September 2021 Amount Recognised gain or $m securitised loss on sale Residential mortgages 35,124 - Credit cards - - Auto and equipment finance 325 - Business lending - - Investments in ABS - - Other - - Total 35,449 -

P i l lar 3 rep ort Se c u r it isa tio n 68 | W e s tpac G r oup September 2022 Pi l l ar 3 report B an ki ng bo ok su mm ary of o n an d off - b alan ce s hee t securi tis ati o n b y e x pos u re t y pe 30 September 2022 Off-balance Total Exposure $m Securitisation retained Securitisation purchased sheet at Default Securities - 7,054 35 7,089 Liquidity facilities - - 250 250 Funding facilities 4,816 - 912 5,728 Underwriting facilities - - - - Lending facilities 2,442 - 308 2,750 Warehouse facilities 14,678 - 5,827 20,505 Total 21,936 7,054 7,332 36,322 31 March 2022 Off-balance Total Exposure $m Securitisation retained Securitisation purchased sheet at Default Securities - 7,590 37 7,627 Liquidity facilities - - 295 295 Funding facilities 3,132 - 1,868 5,001 Underwriting facilities - - - - Lending facilities 1,930 - 371 2,301 Warehouse facilities 12,091 - 6,051 18,142 Total 17,154 7,590 8,623 33,366 30 September 2021 Off-balance Total Exposure $m Securitisation retained Securitisation purchased sheet at Default Securities - 8,025 38 8,063 Liquidity facilities - - 251 251 Funding facilities 3,870 - 1,466 5,336 Underwriting facilities - - - - Lending facilities 791 - 328 1,119 Warehouse facilities 10,742 - 5,050 15,793 Total 15,404 8,025 7,133 30,561 On balance sheet On balance sheet On balance sheet

Pil l a r 3 repor t S e c u ri ti sat io n W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 69 Ba n k ing b ook se c u ritisation ex posure at de fa u lt b y r i s k w e i ght ba n d 30 September 2022 Total Exposure Total Risk $m Securitisation Resecuritisation at Default Securitisation Resecuritisation Weighted Assets Less than or equal to 10% 12 - 12 - - - Greater than 10 - 20% 32,122 - 32,122 5,485 - 5,485 Greater than 20 - 30% 1,687 - 1,687 391 - 391 Greater than 30 - 50% 1,654 - 1,654 599 - 599 Greater than 50 - 75% 826 - 826 453 - 453 Greater than 75 - 100% 9 - 9 8 - 8 Greater than 100 - 250% 10 - 10 11 - 11 Greater than 250 - 425% - - - - - - Greater than 425 - 650% - - - - - - Other - - - - - - Deductions 1 - 1 - - - Total 36,321 - 36,321 6,947 - 6,947 31 March 2022 Total Exposure Total Risk $m Securitisation Resecuritisation at Default Securitisation Resecuritisation Weighted Assets Less than or equal to 10% 15 - 15 - - - Greater than 10 - 20% 29,294 - 29,294 4,964 - 4,964 Greater than 20 - 30% 2,434 - 2,434 608 - 608 Greater than 30 - 50% 1,074 - 1,074 421 - 421 Greater than 50 - 75% 531 - 531 293 - 293 Greater than 75 - 100% - - - - - - Greater than 100 - 250% 18 - 18 19 - 19 Greater than 250 - 425% - - - - - - Greater than 425 - 650% - - - - - - Other - - - - - - Deductions - - - - - - Total 33,366 - 33,366 6,306 - 6,306 30 September 2021 Total Exposure Total Risk $m Securitisation Resecuritisation at Default Securitisation Resecuritisation Weighted Assets Less than or equal to 10% 9 - 9 - - - Greater than 10 - 20% 26,655 - 26,655 4,527 - 4,527 Greater than 20 - 30% 1,818 - 1,818 490 - 490 Greater than 30 - 50% 1,503 - 1,503 530 - 530 Greater than 50 - 75% 545 - 545 303 - 303 Greater than 75 - 100% 9 - 9 9 - 9 Greater than 100 - 250% 20 - 20 22 - 22 Greater than 250 - 425% - - - - - - Greater than 425 - 650% - - - - - - Other - - - - - - Deductions - - - - - - Total 30,561 - 30,561 5,881 - 5,881 Risk Weighted Assets Exposure Risk Weighted Assets Exposure Exposure Risk Weighted Assets B ank i ng book sec ur iti sa ti o n ex po s u r e d e duc te d fr om capita l As a t 3 0 Sept e m b e r 20 2 2 bankin g book se curit isation exp osure dedu c ted fro m capital w as ni l ( n i l at 3 1 M ar ch 202 2 ). B ank ing book sec ur it isa ti o n s ub j ec t t o early amo r ti s at io n treat men t T h e re i s n o s e cur i tisa tio n ex po sur e in t he ba n k ing b oo k t ha t is s ub ject to e a r l y amor tisa ti on tre at ment as at 3 0 Septe m b e r 202 2 (nil as a t 3 1 M ar ch 202 2 ) . Ban ki n g bo ok re s e cur i t i s a t io n expo sur e subj e c t to c re dit r i sk mi t ig ation (CRM) As at 3 0 Septe m b e r 20 2 2 r esec ur it is a ti o n exp os u re s s u bj e c t t o C R M was n i l ( n i l at 3 1 M ar ch 202 2 ) . B a n k ing book r es ecu r it isat i on exposur e to guaran tors Wes tpa c has no third p ar ty g ua r an tors p r o v i di n g g u a ra n tee s for secur iti sed a ss e ts , p rin ci p al or in terest r e pa yment s as at 3 0 Septe m b e r 20 2 2 (n i l as at 3 1 M ar ch 202 2 ) .

P i l lar 3 rep ort Se c u r it isa tio n 70 | W e s tpac G r oup September 2022 Pi l l ar 3 report T ra d i ng b o ok s u m mar y o f asset s s e c u r i t i sed b y W est pa c A s a t 3 0 Septe m b e r 20 2 2 there was nil i n outst a nding s ec ur i t isa tio n e xpos u r e s fo r W e s tpa c o r igi nated as set s h e ld i n t he tr ad i ng b o ok (nil as a t 3 1 M ar ch 20 2 2 ) . T ra ding b o ok s umm a ry o f to t al W e st p a c s p o n s ore d t hir d p a r ty a sse t s secu r it i s e d Th ere are no th ir d p arty as sets hel d i n the tr ading bo ok wh ere Westpac i s r esp o nsi bl e for t h e e s t a b l i s hm ent of th e secu rit isa t ion pr o gr am an d s ubsequent ma na g em e nt a s at 3 0 Septe m b e r 20 2 2 ( n i l a s at 3 1 M ar ch 202 2 ) . T r adi ng b oo k s u m m a r y of se c uritis a ti o n a c ti vity b y as set t ype The r e is no or iginated se curitisa ti o n act ivi ty in t he tra d ing b ook f o r the 1 2 m o nt h s to 3 0 Septe m b e r 2 0 2 2 (ni l f or t h e 6 m o nths to 3 1 M ar ch 202 2 ) . Tradi n g b o ok agg r e g at e d am o unt of e x po su r e s e c ur i tis ed b y Wes t p a c and sub j ec t to AP S 1 1 6 Ca pita l Ad eq uac y: Ma rket Ri sk As at 3 0 Septe m b e r 20 2 2 t h e r e is no Westpa c o rigi na ted o uts t a n ding s e c u r it is at ion e xpos ur e h eld in t he tr adi ng bo ok subject to A PS 1 16 C apital A d eq u a cy : Ma r k et R i sk ( nil as at 3 1 M ar ch 20 2 2 ) .

Pil l a r 3 repor t S e c u ri ti sat io n W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 71 T radin g b o ok s u mma ry of o n a n d o f f - bal ance s heet sec urit is a tion b y exposure ty pe 1 30 September 2022 Off-balance Total Exposure $m Securitisation retained Securitisation purchased sheet at Default Securities - 473 - 473 Liquidity facilities - - - - Funding facilities - - - - Underwriting facilities - - - - Lending facilities - - - - Warehouse facilities - - - - Credit enhancements - - - - Basis swaps - - 32 32 Other derivatives - - 13 13 Total - 473 45 518 31 March 2022 Off-balance Total Exposure $m Securitisation retained Securitisation purchased sheet at Default Securities - 331 - 331 Liquidity facilities - - - - Funding facilities - - - - Underwriting facilities - - - - Lending facilities - - - - Warehouse facilities - - - - Credit enhancements - - - - Basis swaps - - 50 50 Other derivatives - - 16 16 Total - 331 67 398 30 September 2021 Off-balance Total Exposure $m Securitisation retained Securitisation purchased sheet at Default Securities - 91 - 91 Liquidity facilities - - - - Funding facilities - - - - Underwriting facilities - - - - Lending facilities - - - - Warehouse facilities - - - - Credit enhancements - - - - Basis swaps - - 83 83 Other derivatives - - 9 9 Total - 91 92 184 On balance sheet On balance sheet On balance sheet T rad i n g boo k s e cu ri tisati on ex p os ure s u b ject t o int ernal model s appro ach ( IMA) f or spec ific risk There is no t radin g boo k sec u riti sat i o n ex p os ur e s u b je c t to in t er nal model s appr oach (IMA ) for spe ci fi c r i s k f or 3 0 Septe m b e r 20 2 2 (ni l for 3 1 M ar ch 2 02 2 ). Tr ad ing book s ecur i t i sat io n e x p o sur e s u b ject t o APS1 20 S ecu r i ti s at ion sp ec ifi c r isk by risk weight band Th e r e i s no t r a d in g b ook se c u riti sation exp o sure s ub jec t t o APS 1 20 s p e c if i c ri s k f o r 3 0 Septe m b e r 2 0 2 2 (n i l for 3 1 M ar ch 202 2 ). Tradin g boo k capita l requ i re me nt s for sec ur it isa t ion e x posu res s ubjec t t o I M A by ris k cla ssificat ion Th ere i s n o tra d ing b oo k capi t al requiremen t for s ecur i tisa tion su b j e ct t o IMA fo r 3 0 Septe m b e r 20 2 2 ( nil for 3 1 M ar ch 2 02 2 ) . T r a ding book cap ital requ ire me n ts for securit is ati on r e g u la to ry ca pita l a p proa ches b y r isk w eight b and T h ere i s n o tra ding bo o k c api tal r e q uireme n t for securit i sa ti on subjec t to r e gula t ory capit al a p pr oa c hes f or 3 0 Septe m b e r 20 2 2 (n il f or 3 1 M ar ch 202 2 ) . 1 E AD asso ciate d w i th t r a d i n g b oo k secu r it i sati on i s not i n c l ude d in t he EA D b y M a j o r T yp e o n pa g e 3 4 . T ra di n g b o o k sec u ri ti sat i on expo su re i s captured an d r is k we i g ht e d un der A P S 1 1 6.

P i l lar 3 rep ort Se c u r it isa tio n 72 | W e s tpac G r oup September 2022 Pi l l ar 3 report T rading bo ok s ecurit isa tion e xposure deducte d fro m c ap i t a l T her e is no t r adi n g bo o k c a pit al d edu c tion f o r 3 0 Septe m b e r 20 2 2 (nil fo r 3 1 M ar ch 202 2 ). T radin g b oo k securit is a t ion s u bje ct to early am o r ti sa t ion t r e a t me n t T here i s no se curi ti s at i on exp os u r e i n t he tradin g bo ok tha t i s su bj ect to early am or t i s ati on t r eat m en t for 3 0 Septe m b e r 20 2 2 (n il for 3 1 M ar ch 202 2 ). T radi ng book res ec u r iti s a t ion ex p osure subjec t t o CRM Westpa c has n o r es ecu r itisa t i o n ex po s ure s u b j e ct to CRM a t 3 0 Septe m b e r 20 2 2 ( nil f o r 3 1 M a r ch 2 02 2 ) . Tr ading boo k re se curitisation by g uar ant or c r edi two rt hin es s W est p ac h a s n o th ir d p ar t y gua r a ntor s p r o vidi ng guar ante es for s e c uritis e d ass ets, pr i nc ipal or inte r est r e pay me nts for 3 0 Septe m b e r 20 2 2 ( n i l f o r 3 1 M ar ch 20 2 2 ).

P i ll ar 3 r ep o r t Market ri s k W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 73 W es t pac ’s ex p o s u r e t o market ri sk arise s o ut o f its Financial M ar k et s a nd T r eas ury t rad in g a cti v itie s . T h is is quan t ified f or re gul a tory capita l pu rp o ses u s i ng bot h the standar d m ethod and th e inte r nal m ode l appr o ac h , d et a ils o f w h i c h a r e pro v i de d be low. A pp r oac h F in a n c i a l M arkets’ t ra di ng act ivi ty i nc ludes dealings th a t enc om p a s s b ook r unn in g a nd d istr i bu t i on ac tivit y . The t ypes of m arke t risk aris in g fro m t hese a c tivit ies inc l ud e interest r a te, f o rei gn ex c hange , c o m mo di t y, e q u i t y p r ic e , cre d i t sp re ad a nd vo l ati lit y r i s k . T reasury’s t ra ding a cti vity i nclude s the man ag e me nt of i n ter est r ate , fo r eig n exc h an g e an d credi t spre a d risk s a s soci ated wi th t he whol e s a le fun d ing b ook, li q ui d asset port f olios and f ore i gn ex c ha n g e re p atr i a t i o n s . Tr e asury a ls o ma nage s b an k ing bo ok r i s k w h ich is di sc us sed in th e In te rest Rate Risk in th e B an k i n g B ook s ect io n. Tra d ing a ct i v iti es are m anage d withi n a BRiskC appr oved m a rket ri s k fra m ework that i n co rporates BRi s kC ap p rov ed va l ue at ri s k ( Va R ) a n d s t r e s s ed value a t ri sk (SV aR) l i mit s . Va R a n d S V aR are th e pr imary mec hani sm s for measuring a n d man ag i ng ma rke t ris k. M a rke t ris k i s man ag ed us i ng Va R , SVaR an d structu ral ris k l imit s ( inc lud i ng vo lume li m it s and basis p oint v alu e lim i ts) i n c o n ju nc t ion w i t h s c e na r io an a l ys is a nd s tre ss tes tin g. M a r k e t risk limi ts a re all oca ted to business manag em e nt ba se d u pon We st pac ’s r i sk a ppet i te a nd bu sines s stra t e gies, in addition to the c o nsid e ra tio n o f mark et liqu i di ty and conce n trati o n r is k. T rades ar e fa ir val u e d d a i l y u s ing r a t es t ha t ha ve be e n c apt ur e d f r o m an indepe nd en t mark et data s ource th at has be e n app ro v ed by th e Rev al ua t ion Comm i tt e e (R C) . Whe r e the r e is n o s o urce of ind epen de n t ra t es , d ata will either b e derived usin g a me t hod ol ogy appro v ed b y th e RC o r s o u r c ed from d e al er c ontr ibu ti o ns. Ra te s t h a t a re dealer - s ou rced o r h ave li mited independe nt so urc es ar e r evi ew ed at l e ast on a mo n t hly b asis . T he R C meets mo n thly to rev iew th e re s ul ts o f i ndepen dent pr i ce verifica tio n perf o r me d by th e Fi n an ce val u a ti o n f u n c t i on . In a d d it io n, val ua t io n a dj u st m en t s m a y be mad e as d ed uctions f rom CET1 C a pit a l f or e xp osu r e s w hic h ar e not capt ured t h rough t he fa ir v a luation fr amew o r k . V aR and SV aR lim its Ma r ke t risk arisi ng fr o m t r adin g bo ok act iv it i e s i s p r i m a r i l y m easur e d u si ng Va R b a se d o n an h is t o r i c a l si mulat io n method ol o gy. Westpac es timates V a R as t he p otenti al lo s s i n ea r n i ng s f ro m ad verse m arket m oveme nts a nd is calc ulat e d to a 99 % conf idence level u si ng the most recen t 12 mont h s o f h ist or ic a l m a r k e t d a t a . S V aR is a n ad di tio n al Va R m ea sure w h i c h u ses 12 mo nt h s of hi st o rical market d ata that i n c lud e s a period o f s i g ni fi ca n t fi n an ci al s tress . VaR a n d SVaR ta k e account o f al l m ate r ial marke t vari ables t h at may c ause a chan g e i n the val ue of th e t r a d i n g p o r t f o l i o , incl u d in g in ter e st ra te s , fore ig n e x c h ange rate s, p rice c ha n ges, volatilit y, and th e c orr e la t i on bet we e n t h es e va r i a bl e s. T he BRisk C appro v e d mar ket ris k VaR an d SV a R limi t s for tr ading activit i es inclu de sep arate V aR and S VaR su b - l im it s f o r t h e t r a d i n g activ i t ie s of Fi n a n c ia l M ar kets a n d T r e asur y . B ac k t esting D aily backtesti ng of VaR r e sul t s i s perfo rm e d to e ns ur e t ha t m od el i ntegr i t y is m a intai ned . A review o f bo t h the a ct ual an d pote ntial p r of it and loss outco m e s i s al s o u nde rta ke n t o m o n i t o r a n y s k e w cre a t ed b y the h i s to ri c al dat a. S t r e s s te sting D a i ly str es s testing again st pre - de t e r min e d s c enario s i s ca r r ie d o u t t o a na lyse pote n t ial l o s ses b eyo n d t he 99% c onfi d e n ce l e ve l. An escala tion fr a me work a round selec t i ve stre s s t est s i s ap p r o v e d b y t h e H e a d of M a r ke t Ri sk a nd Tr easury Risk . P r o f i t a nd lo s s n otificati on fram e work T he BRisk C h as app ro ved a pr o fi t a n d l o s s no t i f icat ion fra m e wor k. I nclu ded i n this f ram ewo r k are l e vels o f es c al a tion i n ac cordance wit h the s ize o f t he pro fi t o r lo ss . Tr i g g e r s ar e ap p l i e d t o both a 1 - d ay and a ro l l i n g 2 0 - d ay cu m u la tive tota l.

Pil l ar 3 report Ma rk e t ris k 74 | W e s tpac G r oup September 2022 Pi l l ar 3 report Ris k report in g Dail y m oni tor in g of c u r r en t e x po s u r e an d l imit ut i lis a t ion i s cond ucte d indepen den tly by risk manage rs i n t h e Mark e t R isk and Trea sury R i sk te am s , who mo n it o r m ar ke t r i s k e x po s u re s a g a i n s t VaR , SV aR an d stru ct u r a l l i mi t s. Da i l y VaR and S VaR pos i tion re po rts ar e p rod uce d by ris k t yp e, b y p r o duct l i nes and by g e ogr ap hi c re gion . These a re sup p le mente d by st ru ct u ra l risk r e po rting, advic e of p r ofi t and loss tr i gg e r l ev el s a n d s t r es s te s t e s c a l ation tri gg er points . M o d e l a cc r ed ita t i on has been grante d by APR A for th e u se of an inter n a l m od e l f o r the d e t ermi nat i on o f re gu la tory cap i tal for the ke y c lasse s of in te re s t r ate (g e n er al market), foreig n ex ch ang e, com mo d it y an d eq ui t y r i s k s ( i nc l u d i n g e quity spe ci fic risk) . U n d e r t he mo del , re gulatory capital is deri ve d from bo th the c urrent V a R wi n d ow ( b ased u p on t he m ost r ece nt 1 2 mo nths of histo ric al m ar ket d a ta) an d a S Va R windo w (1 2 months of market dat a tha t incl ud e s a pe ri od o f s i g n i fi c a nt f i n a n c i al st r ess ), wh ere th es e V a R m ea s ur es a r e calculate d over a 10 - day t ime ho r iz on to a 99th p e r c en ti l e , o n e - tai l e d con fid e nce i nte rv al . Sp ecif i c risk r efe rs t o the v a riatio ns i n i n dividu a l s ecurity pric es tha t ca nn ot be exp la i ne d by g en er a l m a r k et m ov e m e n t s , and e v ent a nd defaul t r i s k . I nt e re st r a te specific risk c a pital ( sp ecific is sue r r is k) is c a l cu la t e d u s i ng t h e Stan dar d me t h od an d is a dded to the V aR reg u la tory c apital m ea s ur e . Westp a c c urrently ho lds an ind ustry - wi de cap it al o verl ay w h i c h wa s intr o duc ed from 31 De cember 2021 a n d r elat e s t o APR A ’ s re vi sed r isks - n ot - i n - VaR framework . Th i s o ve rla y will b e app li ed unt i l th e Gr oup ’ s re vis e d fra me work is a pproved by APRA . Ris k mitigatio n Mark et risk pos itions are mana ge d b y th e t rad in g d es k s c o ns i ste nt wi t h d el ega t ed tr a di n g an d p r o d u c t auth o rit i es. Ris k s ar e c on solida ted into portfolios bas e d o n pro du ct a nd r isk t yp e . R i sk m a nag ement is ca r r ied ou t by qua l ified pers o nn el w ith v arying le vels o f senio r ity commensura te w it h t h e n at u re an d s ca l e o f m a rke t r is k s u nd er m an a ge m en t . Th e f o l l o w in g co n tro l s al low mo ni tor in g by m anagement : ⚫ trading a uth o r i t i e s a nd re s po n s ibi l i ti e s a r e cl e arl y del ineate d at a ll levels; ⚫ a stru ctur e d sy st em of limits a nd rep orting o f r isk exposur es, in c lu d ing s t res s te s ti n g ; ⚫ s ur v eil la n ce of de ali n g r oo m c o nd uc t ; ⚫ a l l n ew pro d uct s and si g ni fi can t produc t variati ons underg o a r i g o r o us ap pro v al p roc e s s t o i d en ti f y b usine ss ris k s pri or to laun c h; ⚫ mod els t ha t ar e u se d to dete rmine risk or pro fit and los s fo r W es t pac ’s acc ou nt s a r e i n de p end en t ly re v ie wed ; ⚫ d ut i es ar e s eg r e g a t ed so t hat empl oye e s in vol ve d in t he origin ation, pro c ess i n g a n d v al uat i on o f t r a ns a c ti o ns o p era te un der se p a rate r eporting lines, min i mi si ng th e opportuni ty for collus i on; and ⚫ legal pers on n el rev ie w do cu me n ta t i on fo r co mp l ia n ce wi th r el e va n t l aw s a nd r e g u la tion s . I n ad dit i on , Gro up A ud it independ ent ly revi ews c o m p li anc e wit h p o lici es , p r oc e du re s an d lim its. M a r ket r i sk regul a tory capit a l an d ris k weighted assets The In tern al model ap proa c h us es V aR and S tr e ss e d V a R, whi l e th e S t an dar d a p pr o ac h i s u se d f o r i nter e st r ate spe c if ic ri sk . $m 30 September 2022 31 March 2022 30 September 2021 Internal model approach 661 665 472 Standard approach 82 103 61 Total capital required 743 768 533 Risk weighted assets 9,290 9,596 6,662

P i ll ar 3 r ep o r t Market ri s k W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 75 V aR by ri s k t y p e 30 September 2022 $m High Low Average Period end Interest rate risk 20.2 6.2 10.1 8.4 Foreign exchange risk 8.3 0.7 3.5 5.7 Equity risk 0.1 0.0 0.0 0.0 Commodity risk 4.0 2.0 2.8 3.3 Other market risks 5.3 2.6 3.7 3.8 Diversification benefit NA NA (7.9) (10.6) Net market risk 1 21.2 8.1 12.2 10.7 31 March 2022 $m High Low Average Period end Interest rate risk 16.9 5.0 8.4 16.9 Foreign exchange risk 3.0 0.3 1.4 1.9 Equity risk 0.0 0.0 0.0 0.0 Commodity risk 3.7 1.5 2.1 2.3 Other market risks 6.5 1.4 2.1 4.3 Diversification benefit NA NA (5.0) (5.0) Net market risk 1 20.5 5.4 9.1 20.5 30 September 2021 $m High Low Average Period end Interest rate risk 11.9 5.1 7.6 6.9 Foreign exchange risk 8.7 0.6 1.7 2.7 Equity risk 0.2 0.0 0.0 0.0 Commodity risk 2.0 0.4 0.9 1.8 Other market risks 4.3 1.6 2.8 1.6 Diversification benefit NA NA (3.8) (5.7) Net market risk 1 14.1 5.9 9.2 7.4 For the 6 months ended For the 6 months ended For the 6 months ended S t r e s s e d VaR b y r isk ty pe 30 September 2022 $m High Low Average Period end Interest rate risk 55.6 25.8 39.9 40.1 Foreign exchange risk 19.4 1.1 8.1 10.6 Equity risk 0.1 0.0 0.0 0.0 Commodity risk 3.5 2.4 2.8 2.7 Other market risks 17.4 9.7 13.7 11.2 Diversification benefit NA NA (19.8) (22.7) Net market risk 1 74.4 30.9 44.7 41.9 31 March 2022 $m High Low Average Period end Interest rate risk 84.4 28.5 52.3 42.4 Foreign exchange risk 11.1 0.7 3.7 3.5 Equity risk 0.1 0.0 0.0 0.0 Commodity risk 13.0 2.1 4.2 3.4 Other market risks 16.8 9.2 11.9 15.8 Diversification benefit NA NA (12.0) (8.4) Net market risk 1 91.5 36.8 60.2 56.7 For the 6 months ended For the 6 months ended 1 V a R and S Va R m ea su r e s s h o w n h e r e u se a 1 da y t im e h o rizon . The n e t m a r k et ri sk m easur e r e fl ec t s t he a gg r egate di v ersi fi ed r isk p o s i ti o n fo r th e p er i o d. T h e re fo re, ind i v id ua l ri sk f ac t o rs wi l l no t s u m to th is t o t a l.

Pil l ar 3 report Ma rk e t ris k 76 | W e s tpac G r oup September 2022 Pi l l ar 3 report 30 September 2021 $m High Low Average Period end Interest rate risk 61.1 23.6 42.1 32.5 Foreign exchange risk 24.8 1.3 4.7 11.3 Equity risk 0.7 0.0 0.1 0.1 Commodity risk 13.8 1.1 3.4 7.4 Other market risks 14.7 10.0 12.5 10.0 Diversification benefit NA NA (77.9) (9.6) Net market risk 1 66.3 27.7 47.0 51.6 For the 6 months ended B a c k - test i ng res u lt s 1 T h e f o llowi ng gr a p h giv es a co m paris o n o f actual p r o f it and l oss to VaR o v er th e 6 mo nths e nded 3 0 Se pte mber 20 2 2 . E a ch p o in t o n t he gr a p h r e p res ents 1 d ay ’s t r adi ng p r of it o r lo ss . Th is r esult is p lac ed on the gra ph re l ati ve t o th e as so cia te d Va R u ti lisa t i on. T he do wn wa rd sl oping l ine rep r e s e nts the p o i n t wher e a l oss is equ al to Va R ut il i sa tio n. 1 T he ne t m ar ket r i sk m e as ure r e f l e cts t h e a ggr e g at e d iv er s i fi e d r i s k p o s i ti on f or t he p er i o d. Th e r efor e , i n d i v id ual ris k fac t or s w il l n o t s u m t o thi s t o tal.

P i lla r 3 re p o r t Int ere s t Ra te R i s k i n the Ba n k i ng B ook ( I R R B B ) W e stpac G roup September 2022 P i lla r 3 re port | 77 IRRBB is the risk of loss in earnings or economic value in the banking book as a consequence of movements in interest rates . Appr oach The bank ing b o ok ac tiviti e s th at g iv e r i s e t o ma r k et r i s k inc lu de lend ing acti vit ie s, b a lan ce shee t fundi n g a nd ca p i t a l m anag e me nt. I n terest r ate r isk, ba sis r i sk, c u rr e n cy r isk a nd f u n ding an d liq uidi ty ris k ar e i nh erent i n thes e a c t iv itie s. Tr e asury ’s Asset & Li abi li t y M an agemen t ( AL M) u ni t i s r e s p ons i b le f o r m ana gi ng mark et risk ari si ng f r om We stpac ’s bank i n g boo k a c t i v i t y. A l l mat er i al regi o ns, b usin e ss line s an d l eg a l e n t iti es are i nclu d ed in W estp ac’s I R RBB fr am ework . Model a c c r ed itat io n h a s bee n granted by APR A f or th e use o f an int er n a l m o d e l fo r th e d e t e rmi na tio n of IR RBB r egu la to ry cap it al . U nder th e m o del , r e g u l a t ory c ap ita l i s prima r ily d eriv e d from a Va R m ea s u re u sin g 6 ye a r s of hi stori cal data w i th a s ca led 1 y ear , 9 9 t h p er cent il e, o ne - ta iled conf iden ce in t er v al . As se t a nd lia bi l i t y m a n a gem e n t The AL M u n i t manag es th e stru ct ur al int e r est r ate mis m atc h a ss o c i a t e d wit h the tr a n s fer p r iced bala n ce shee t , i nc l u d i n g t h e i n v estm e n t of We stpac ’s c ap i tal to it s a greed ben chma r k d u ra t ion . A k e y ris k managem ent ob j ec tive i s to a c hi ev e re as o n a b l e s t abi l i ty of Ne t I n t erest I ncome (NII) o ve r t ime . These activi t ies ar e p e r f o r m ed u n d er t he o v ersig h t of ALCO an d the Tre as u r y R isk t e a m . Duri n g pe r iods of sig nificant inte rest ra t e volatility the cha nge in va l ue of capital hed ges ma y resu l t in materi a l contribut ion s t o IRRB B regulat ory capital i n th e fo rm of e mbedded losses o r g a i ns . Ne t Int eres t Inco m e sen s iti v i ty N II s ensi tivi ty i s m a n ag e d i n term s of the net i nteres t inc om e - at - r isk ( Na R ) m od e ll e d o v e r a s et ti m e hori z on usin g def i ned s c e na rios fo r m ovements in wh o le s a le m a r ket in t eres t r a t es. The N II mea sure ment fr a me w o r k c o m b i n e s the unde rlyi n g sta t e ment of f i na nc ial posi tion d at a w i t h a ssu m p tion s about runo ff and n e w bu si ness , expec te d re pr i ci n g b e h a vi ou r and ch ange s in who lesal e mark e t i nterest r a tes. The in ter e st r ate s c enario s mod el l e d inc lude tho se proj ecte d u s in g 1 0 0 a n d 2 0 0 bas i s po int s hifts u p an d do w n f ro m c u rren t ma rk et y i e l d c urv e s . A c omparison b et ween t h e NI I outc o m es fr om the se mo d e l l e d sc en ar ios in dica t es the sensi t ivity t o interes t r ate changes . O n a n d off - b alance shee t i n s trum ents are th en u sed t o m an a g e t h i s i n t e r est rate ris k . Na R limi t Th e BR is kC h a s a ppro ve d a N a R l i mit . This limit is ma na ged by the Gr oup T r easur er and i s e x p r e s s e d as a de f in ed b a sis poi nt sh o ck ov e r a one ye a r risk horizo n . T hi s limi t is mon i tore d b y th e Trea s ury Ri sk t eam . Va R l i m i t T h e B R i s kC h as a lso a pprov e d an i nte r e st r ate VaR limi t fo r A L M a c tiv i t ies . This limit is manag e d by t he Gr o up Tr ea s ure r a nd m o n i t o re d by th e T reas u ry Risk team . This i nternal VaR measure use s 1 ye a r of historica l data with a 1 d a y, 99th pe rcentil e , one - ta i l e d co nfid e nce inte rval. A d di tion ally , t h e BR iskC and t he Tr ea sury R i s k te a m se t s t ruc tura l risk li mits to p rev en t u n d ue c o n c e n tra t ion o f ri sk . S tructur a l f orei gn exc h an ge ra te r i s k S t ru c t u r al f o r e ign e xchang e r ate r isk re su lts f rom t he g e n e rat i o n o f fo r e i g n c ur renc y denomin ated e a r ni ngs a nd fr om Wes tpac's cap it al dep loyed i n of f shor e b r a nc hes a nd subsi diaries , whe re i t i s de no m in ate d in c urren cies other t h an Aus tr alia n d ol lar s. T h e Au s tr a l i a n d o l l a r equ ivalen t o f of f shore ea rnin g s a nd c ap i t a l i s s u b ject t o c h a ng e as e xchange rate s f lu ctua t e, wh ic h co uld introd uc e s ign ifica n t var i abil ity t o Westp ac's rep orted f i n anc ia l r es u lts . A LC O p r ovide s ove rsig ht of t h e a ppro pr iate n es s of for e i g n e x ch a n g e he d g e s on e arning s a nd c a pital . Risk rep or ti ng I n ter e s t r ate r i s k i n t he b a n king bo ok ri s k me asur e men t sy stem s include fr on t of fice p r oduc t sys tem s , w hich capture all tre a s ury f un d in g an d d er iva t ive t ransa ctio ns; the t ra nsfe r pric i ng s yst em, w h i ch ca p t u r es a l l retai l and oth er b u siness t rans a cti on s; a n d the a s s e t an d l i a b i li ty m a n agement risk s y st em, w hic h ca lc ul ate s A LM V a R an d N aR. Da i l y m o nito rin g of market risk expo s ur e ag a i n st VaR an d s tr uct u ral r isk l imi t s i s cond uc ted in depe n de ntly b y t h e T r e asur y Ris k t e am , w i t h Na R m onit o red on a mon t hly b a s is . M an a g e m e n t re p o r t s d et aili n g struct ura l po s it ions and V aR are p rodu ced a n d d ist ribute d d ai l y fo r u se b y dealers and man a ge m e nt a c ro s s all st a ke hol d er gr oups . Q u a rte rl y re po rts ar e pr o du ced f o r t h e s e n ior ma nag eme n t mar k e t ri sk foru m s of RIS KCO a nd BR is kC t o p r o v i d e tra n s p a r e n cy of m a t erial mar ket r is ks a nd i ss ue s.

Pi l l a r 3 r e p or t I nt e r e st R at e Ri sk in t he Ban k ing B ook ( IR RBB ) 78 | W e s tpac G r oup September 2022 Pi l l ar 3 report R i sk m itig a t ion M arket r i s k a risi ng in t he banking bo ok s t em s fr o m th e ordin ar y c our s e of bank i ng a cti vi ties , incl u d ing s tr uctur al i n t e r e s t ra te ri sk ( the m i s matc h b etwe e n the du rati o n o f as s e t s a n d l i a b ilit i e s ) a n d capi t a l manag eme nt. H ed ging Wes tp ac ’s e xp osur e to i nte res t rate r i sk is u nd e rtak en using deri vati v es . Th e h ed g e acco un t in g s t rateg y ad o pte d ut il ises a com b i nati o n of th e c a s h f l o w, f ai r v alu e and n e t in ve s tmen t hedge a ppro a che s. S o m e d e r i v a t i v es h e l d f o r e cono m i c hedgi ng purp o se s do not m ee t th e crit eria f or hed ge acc o u n ti n g as d e fine d under AASB 139 F in a n ci a l In s trumen ts : R eco g nitio n an d Me a sur em ent an d th e r efor e a re ac cou n t e d f o r in t he sam e way a s der iv a tive s held fo r tr a din g. T h e s a m e c o n t r ols u s e d t o m onit o r traded ma rket ri sk a llow f or con ti nuou s mo n i tor ing by ma n a g em e nt. Ch a nge in economic v alue of a s u d d en upward a n d dow n ward move m ent in in tere st rat e s 1 The table below represents the change in economic value of a sudden upward or downward mo v e m e n t in interest rates based on a 200 basis point parallel shift. The sensitivity to upward or downward movements in in terest rates has changed significantly over the year as the net interest rate exposure managed by the bank has adjusted with changes i n t h e i n terest rate environment. 30 September 2022 200bp parallel 200bp parallel $m increase decrease AUD (7.6) 2.3 NZD (16.3) 16.9 USD (6.4) 6.8 Total (30.3) 26.0 31 March 2022 200bp parallel 200bp parallel $m increase decrease AUD (240.6) 248.4 NZD (17.2) 18.7 USD 35.4 (39.2) Total (222.4) 227.9 30 September 2021 200bp parallel 200bp parallel $m increase decrease AUD 292.1 (309.2) NZD (10.8) 11.5 USD 35.7 (42.5) Total 317.0 (340.2) Va R r es u lt s f or non - trad ed int e rest ra te ri s k 1 For the For the For the 6 months ended 6 months ended 6 months ended 30 September 31 March 30 September $m 2022 2022 2021 High 81.0 73.8 75.4 Low 58.6 53.7 59.7 Average 67.8 65.0 66.5 Period end 64.5 70.7 63.7 I nterest rat e r is k i n t h e ban k i n g book r egula t o ry capital and risk we ighted a s se t s 2 30 September 31 March 30 September $m 2022 2022 2021 Total capital required 3,423 2,217 916 Risk weighted assets 42,782 27,710 11,446 1 I R R BB stress t est and n on - tr ade d i ntere st rate ris k V aR use s 1 year o f histor ica l data wi th a 1 day, 99t h per centil e, one - tai led confidence int e rval a nd i ncl u d e s i n t e r e s t r ate r i sk , cre d it s p rea d r is k in l i q uid a s se ts an d other b a si s ri s ks as u s ed fo r i nt e r n a l m a nageme n t re por t i ng p u rpo se s . 2 Refer to th e E xecuti ve summary for furthe r comme nt ar y on RWA move ments over the Sec ond Half 2022 .

P il l a r 3 rep ort O p e ra t iona l r i s k W e stpac G roup September 2022 P i lla r 3 re port | 79 Ope ra tion al risk is de f i n ed a s the r is k of l oss resul ti ng f r o m i n ade q uat e or fai l e d i n t e r n a l proce sse s , p eo ple and s y s te ms or fr om e x t e r nal even ts . T h i s def ini t i o n i nc lude s le gal a n d r egul a to r y ri s k b ut e x c lud e s s tr a tegic risk . Westpac’ s op e ra ti o n a l r i sk d efi ni tion is aligned t o A PS 11 5 Capit al A dequ acy: Stan da rd i s ed Me a s u r e men t Ap p r oach t o O p e rat ional Ri sk ( S M A ) . Ap proa ch Wes tpac h a s tra nsit ione d t o S M A i n acco rd a n c e with A P S 11 5 . We s tp a c ’ s o pe rat i ona l ri s k i s mea sur ed and managed in ac co r d a nce wi th t h e po lic ie s an d pr oc esses de f i ne d in its O p er a tional Ris k M a n a g e me nt F ra me work . We s t p a c ’ s O p e ra t ion a l R isk Ma nag em e n t F rame work Th e O pe r at ion al R is k Manage m e n t F rame wo r k ou tlin es o ur a ppr o ac h t o t he : ⚫ i d ent if ic a t io n, me asu rement and man age men t o f oper at io na l ris ks th at m ay i mp ede W est p a c ’ s ability t o a chieve its s t r a t e g ic ob j ec ti ves a n d v i s i o n ; ⚫ i d e nt i fic a tio n and esc al a t io n of operati on a l r is k i nci d en ts to mi t ig ate poten t i a l f ina nc ia l l o s s, regu l at o ry imp act s an d re pu tat ion al da mag e t ha t m ay i mpac t sha re ho ld e rs, the c ommu nity , and e mpl o y ee s; an d ⚫ cal c ul ation o f op e r a t i o n a l ris k cap i t al. Th e k e y c o m p o n e n ts of West pac ’ s op er at i on al risk man a ge m en t f rame wo r k are l i st ed below: G o ve r nan ce - T h e go v erna n ce st ruct ure p ro v i de s cle arl y def ine d r ol e s and resp o nsib il it ie s for ov er seei ng a nd revi ewi n g o pe rat ional ri sk expo s u re a n d i t s mana g emen t . Th e B oar d a n d B R i s k C are supp ort ed by c om m it te e s , in clu d in g R ISK CO , th a t monit o r the Group ’ s op e rat io na l r i s k p rofi l e a nd the ef fe ct i v en es s o f o perat ion al ri s k mana geme n t pr ac ti ce s , in clu di ng o pera t i onal ri s k ca pi tal . Ris k a nd Cont r o l A s s e s s m e nt (R C A ) - T he R C A pr o c e s s p r ov i des a stru ctu r ed a nd c o nsi s te nt appr o ac h f or the b u s i ness t o d eve lop r i s k pr o f i l e s a n d t her e b y su pp o rt s th em in i m p le me n t i ng appropr i ate actions wh e r e th e r is k i s ou tsi de the def in ed Ri sk A p pe ti te . I ss u e a n d Act i on M a n a g e m e nt - The I ssue a nd A c t i o n M a n ag e me nt p r oce ss e nc om pa ss e s th e id entif i ca t io n a nd m a n a g e ment o f i s s u es, w h i c h r e l a te t o c o ntr o l def ic i en cies or g ap s , t o e ns ur e that th e y are effec ti v e l y a d dr es se d th r oug h acti o n p la ns. K ey I n d i ca tors ( KI s ) - are o b jec ti v e m e a sures used by ma na g e m e n t to m on i to r th e cu rre n t r i sk a n d co nt rol env i ro n me nt , i nf o r m the as s es sme nt of r i s k a n d t o a s si s t i n pr om pt i ng man age me nt a ct io n w hen the me t ric s ind icat e t h a t th e le v e l of ris k is i ncre as ing . Inc i d en t Ma n a g em e n t – The I n cid en t M a n a gemen t pro ces s a ss is t s i n i m p l e m enti n g con si s ten t id en t ific ation, re c or d in g, esca la t i on and re cti fic a ti o n o f inc id e n ts a nd r elate d l os s es in a tr a n sp a r ent a n d practi cal way. Th i s as s i sts t he G r oup to co mply wit h all l ega l an d regulato r y obl iga t i ons a n d l i c ensin g con di tion s (i n c l u d in g re p or ti n g mat er i al re gu la t ory b reac hes t o r eg ula tory a u t horiti e s ) . D ata - T h e f r ame wo r k in c lu d e s pri nc i pl es a n d pr o c e s se s t o en s ure the int egr ity of ope r at i o na l ri s k da t a us ed t o su p p o rt m ana g e me nt decisio n - m akin g a n d c a l c u l a t e and alloc ate ca pi t a l . T h e p r in c iple s appl y t o t he g o v e rnan ce, inpu t an d c ap t u re, r e c oncil i a ti on , and v a l i d a t i on , r e por t ing and s to r ag e o f o p e r at i o na l ri s k d a ta. Oper ati ona l ris k da t a i s s u b je c t to i n d e pen d en t va li da t ion o n a regular b as is. S cen a ri o A n a l y s i s - i s us ed to p r ov i d e a f o r wa r d loo k i ng - v ie w of sever e b ut p l a usi b l e l o ss e ve n ts , a nd f ac i lita t e a stru c tu r ed an d co ns i s tent a p pr oac h for a s s e ss ing t h ose events in view of the Gr ou p ’ s objec t i ve s and o pe ra t ions . S ce na r i o a n al ysis is a l s o a n inpu t t o the calc u la ti o n o f op era tiona l r i sk e c ono m i c c a p i t a l. Re port ing - R egul ar repo rtin g of o pe r at ion al r is k i n fo r m a ti on to g o v e r n an ce b odie s a n d s e n ior ma n ag e men t i s us e d to sup po r t t imely a nd proac ti v e ma nag e m e nt o f ope ra t i o nal ri sk and en ab l e tr a n sparent a nd f orm a l overs ig ht o f t h e r i sk an d con t rol e n v i r o n m e nt.

P i l l ar 3 r epo r t O p e r a ti o na l r is k 80 | W e s tpac G r oup September 2022 Pi l l ar 3 report S MA ca pit al o v er vi ew 1 From 1 Ja nuary 2022, Westpac adopted the St a ndardised Measurement Approa ch (SM A) to o p erational r isk c apital as permi tted by P rudent ial St an dard APS115 Capi tal Ad equacy: Standardised Measurement Ap proach to O p erat ional Ris k . T h e new reporting standard ARS115 r equires Westpac to calcul ate o perational risk capital annually based on annual audited fina ncial statements . The oper ational risk calc ul ation will be updated as part of the 31 December 2022 Pil lar 3 repor t . W est pa c co n t in u es t o re mediate the breaches pertaining to the super s eded AP S 115 Capital Ade quacy: Advanced Measuremen t Ap proach es to Operational Risk (AMA) requ irements under the Gr ou p’s Cust omer O u tcomes and Risk Excellence p rogram. O pera t ion al R i sk r e g ul ator y c ap i tal an d risk weighted ass e t s $m 30 September 2022 31 March 2022 30 September 2021 Model based capital 3,725 3,629 2,705 Standardised approach overlay N/A N/A 765 Culture, Governance & Accountability Review overlay 500 500 500 Risk governance overlay 1 500 500 500 Total capital required 4,725 4,629 4,470 Risk weighted assets 59,063 57,875 55,875 1 Th is overla y wa s applie d in r esponse to the ma gnitu de and n at ure of issue s that were the s ubj e ct of the AUST RAC pr oc eedi ngs . This overlay has applied from 31 December 20 19 .

Pill a r 3 r e p o r t Equ i ty ri s k W e stpac G roup September 2022 P i lla r 3 re port | 81 E q u i t y r i s k is d e fined as the potential for f i nan c ia l l oss a r i s in g fr o m mo vem e nts in e qu ity v a lu es. Th e di sclosu res i n t his section e xc l u d e i n v es t m en t s in equ i tie s ma de by W e st p a c sub s i dia r i es o ut side t h e re g ulato r y Le vel 2 gro up. S tru ctu re an d o r g an i sa t ion P o r t f o l i o an d t ransac ti onal limits for We st p ac’ s d i re ct eq u i t y i nve s t men ts a re gove r ne d b y v ar ious s uppo rting poli c ie s an d de legat e d a p p r ov a l l i m it s . Whe re a ppr o pri at e, th e B R i skC ( u n der del e g at ion f ro m th e West p ac B oard ) wil l con sid er an d a p p r o v e r is k s b e y o n d m a n a g em en t ’s app ro val authority. App ro ach W es t pa c h as e s ta b lis h e d a co m pre hens i ve se t o f poli ci es d efinin g th e m a nag e ment of e qu i t y ri s k . T h es e p oli cie s ar e re vi ewed and a pprov e d pe r iod i c al ly ( i n m o st cases annu ally ) . Ri sk mi tig at i on We s t p a c d o es not u s e f i n a n c ia l i nstrum en ts to mitigate its e xpo s u re to eq ui t i e s i n t h e ba nki n g b ook. Ba nki n g bo ok p os itio ns Hyb rid e qu i ty u nderwrit i ng a n d e q u it y wa r e h ous ing ris k - As a fi nan c i al in t e rme d iar y We stpa c u n d er w rites list ed a nd un liste d h yb r id eq u i t y se c ur i tie s . I n v e s t m en t s ecurit ie s - Westpac und ert ak es, a s p ar t o f t h e o r din a r y c our s e o f bu s in ess , c er tain i nves tments in s tr a teg i c equity ho l d i n gs a nd o ve r t ime th e na t ure o f und erl y i ng in v e stm e nts w il l va r y. Me a surem e nt o f eq uity secur iti es - Equ i t y s ec u ri t ies a r e g e n e r a ll y c arried a t their fair va lue . Fai r va l ue fo r e q u it i es t h at hav e a quot e d mar k e t p rice ( in a n acti ve m a rk e t) i s determ i ne d b a se d up o n c u r r ent bi d pr i ces . If a mar k e t for a fi n anc i a l asse t i s no t acti v e, f air value is d ete rm i ne d b a s e d up o n a va l u a t i o n t e c hn iq u e. Thi s includes the us e o f rec e n t a rm s - l en g t h t r ans a c tio ns, dis coun t ed ca s h fl ow a na lysi s, opt ion p ri c ing models a n d o t h e r v a lu a t io n t ech niq u es c omm on ly us ed b y mark e t pa r tic i p an ts t o p r i ce simil a r in stru ments . W he re an inve s tment is h eld f or l ong te r m s tr at eg ic pur pos e s, it is a cco u nt e d fo r at fair value through pr ofit a n d lo ss , unless the Group make s an i rrevocable el ect i on to measu re them at fair v a l ue thr ough oth e r co m p re h ens i v e i nc o me ( OCI) . W here the Group has significan t influen c e , b u t n ot c ontr ol , o ver the financial and operatin g p olicy decisions o f the inv es tee , t he in vestment is equ i ty a c c oun te d f or and r eco g ni sed as a s har e i n a ssoc i ates. Ot her r e lat e d m a tters ⚫ Fair va lu e s h ou l d n o t dif fer to t he l i sted st o c k pric e . Sh o uld a l ist e d s t o ck pric e not be a vail a ble, fai r val ue i s e s ti m ate d usin g t he v a lu ati on tec hn iq u es re ferred to ab ove . The b ook v a l u e o f c e r tai n u nli s ted in ves t m e n ts for which act ive m a rke t s d o not exist ar e me a s ur e d a t c ost be c aus e co s t is c on s i d ered t o be a r e a s o nab l e a p p ro x imat i o n of fai r va l ue. R isk r e p ort i ng W e st pac m ana g es equit y ris k in two wa y s, Va R lim its a n d in v est me nt l imi ts : ⚫ A V aR lim i t (i n conjunction w ith s tru c tura l l im it s ) is use d to man age tra d ed eq u i t y . This limit is a sub - lim i t o f the overal l Va R l i mi t fo r F ina nci a l M a rke t s trad in g a ctivi t i es. Equ i t y trad i ng a ct i vity i s ov erse en b y t h e ind ep end ent M a r k et Ris k func tio n a p p ly ing th e s am e controls us ed fo r mon i tori n g ot he r t ra d ing b ook ac tiv i tie s i n F i n a n ci al M a rkets and Trea s ury ; an d ⚫ Investment e xp os u r es a re r e por ted a nn u all y to MA RC O .

Pi lla r 3 report E quit y r i sk 82 | W e s tpac G r oup September 2022 Pi l l ar 3 report Boo k val u e o f eq uity exp o su r es 30 September 31 March 30 September $m 2022 2022 2021 Listed equity exposures (publicly traded) - - 3 Unlisted equity exposures (privately traded) 187 161 160 Total book value of equity exposures 187 161 163 G ain s /l o s se s 30 September 31 March 30 September $m 2022 2022 2021 Cumulative realised gains (losses) - - - Total unrealised gains (losses) through profit & loss 1 (1) 5 Total unrealised gains (losses) through equity - - - Total latent revaluation gains (losses) - - -

P i l l a r 3 r e p o r t F u ndi n g a n d l i qui di ty r isk m ana gem e nt W e stpac G roup September 2022 P i lla r 3 re port | 83 F unding and l i q u i dity risk i s th e r i s k t h a t W es t p ac cannot m eet its paym e n t o b li gati o n s o r tha t i t do e s n o t h a ve t he a ppropri a te amount , ten or and c o m pos it ion of f u n di n g a n d l iquid i t y to s u ppo rt i ts a s se ts . Appr oac h F u n din g a nd l i quid i t y r is k i s me a s u red a nd mana ged i n a c corda nce w i th t he p o l ic i e s a nd p ro c esses d e fin ed in the B oa r d - a ppro v e d L i q uid it y Ris k Ma n a g e m ent Fr am ework w h ich is pa r t of th e Wes t p ac Bo ard - ap pr o v ed R is k Ma nagem e n t Str a t egy . R e spo n s ib il i t y for ma n a g i n g W e st pa c ’ s liq u i d it y a n d fun d i n g pos itions in a c c o r d ance with t he L iq u i d i ty R i s k M a n ag e ment Fr a mew ork is de l e ga t e d to T r e asu r y , u nd e r th e ov e r s i g ht o f AL C O and T reasury R i s k . Li q uidi ty Ri sk Ma nage me n t F r a me w o rk The L i qui d ity Ris k M an a g ement Fr a m e w o r k s et s o u t Wes t p a c’ s f u n din g a nd li q u idity risk a pp e t it e , roles and res po ns i bi l iti e s o f k e y pe ople ma naging fun d in g an d l iqu i dity r i s k w ith i n W e s tpa c , ris k r ep o rting a nd contr o l proce s ses and l imi ts and t a r ge t s u s e d to ma n a g e W e stpac ’s b a la n c e she e t . K e y c o mp on en t s of W e s t pa c’ s a ppr o a c h to l i quidi ty r i s k m a n ag e me nt ar e li s ted b el o w. Fun d i ng st r ateg y Tr eas ury un dert a ke s an a n nua l fun di n g re vie w t h a t ou t l ines We st p ac’s b a lance sh e e t fund i ng s tra te gy ov er a t h r ee y ea r pe riod . T h is r eview e n c o mp a s ses t r en d s i n g lo ba l m a rkets , p ee r a n a lys i s , whol e s ale f undin g ca p a ci t y, expe cted fun di ng re q uir e m en t s a nd a fun din g risk ana l ys i s. T h i s s t rate gy i s c ont i n u o u s ly r e view e d to take a c count of c h angin g mar ket c ond it ions , i n ve s t or s en timen t a nd e stimati o n s o f asset an d l i a b i li ty g r o wth r a t e s. W e s tpa c m onito r s the compo s i ti o n a n d stabi lity of it s f un d ing s o t ha t it rema ins withi n it s f u ndi n g ris k app et i t e. Thi s i n c l ude s comp l ia nc e with b oth the L C R and NSFR . L iquid a sset h o l di n g s W e st pac h o l d s a portfo li o of l iq uid ass et s f o r sever a l pur po s es , i n c lud i n g as a b uff er agai n s t u n fo r es e e n f undi n g r eq ui r em e n ts. Th e l e vel of liqu i d a s sets h e l d ta k es int o ac co u nt t he liq u i dity r e qui r e m en t s of W e stpac’s b a l ance sheet un der n o r mal an d st r e s s c on ditio n s . L i quidit y m ode l l in g I n m an a g i n g liqui d ity f or We st p a c , T r e a sury u t ili se s bal a n ce s he e t f o rec asts and t he ma t u rit y p ro f i le o f W estp a c ’ s whole s a l e fu n di ng p ortf ol i o to pr oje c t liq u i d ity o u tc o m es. L o cal liqu i d i ty limits are also u sed by W es t p a c i n appli c a b l e j urisdi ct i ons t o ens u re li q u i d it y is m anage d e ff ic i e n tly a n d pru d e ntl y. In a d d it i o n, We s t pac con d uct s re g ul a r s t r es s t e sti n g t o as s es s its a b i l i ty t o meet cas h f low obl iga t i ons u n d er a r an g e of m a rket con d i t ions and scen arios . Thes e s c en a r i o s in form l i q u id i ty lim it s an d st rat e gic p l a n n in g. Li q uidit y t ra ns f e r pr i c i ng We s t pac h as a l i qu i d it y t r a nsf er p r ici ng f r am e w ork wh ic h all o cat es l i qu i d ity c o s t s ac r os s We stpa c . Con tin gen c y pla n n i ng T r e as u r y mai n tains a c o n tingen t fundi ng pl a n tha t o u tl i n e s t he step s t h at should b e ta k e n by W est pa c i n t he ev e nt of a n e me r g i ng ‘ f u nding c ris is ’. Th e pl a n i s a l i gne d wi t h W es tp a c’ s bro a de r L i qui d ity Cri s is M anage m e n t Po l ic y wh ich is appr ove d a n n uall y b y t h e B o a r d . Li q uidity r e p o rting Daily l iquid i t y ri sk r ep o r t s a re revi e w e d b y the G ro u p’s T re asu r y a nd T r e as ury R i sk te am s . Li q u i dit y r eport s are p resen t e d t o A L CO m ont hly a nd to t h e B o ard qu ar t e rly . Commit t ed Liquid i ty Fac i li ty In Sep tember 2021, APRA a nnou n ce d it expe cts Author i sed Deposit - taking Instit ut i o ns ( AD I s ) subje ct to t he LCR t o reduce their Co mmi t te d Liquidity F acilit y (CL F) usage t o zer o by th e e n d o f 2022, subj ect to f ina ncia l m ark e t condition s.

Pi llar 3 r ep o r t L iq u id i ty c o v er ag e r at io W e stpac G roup September 2022 P i lla r 3 re port | 84 Liqui di t y Cove ra g e Ra tio Westpac’s ave rage LCR fo r the quarter was 132% (30 June 2022: 130%) and co n tin u e s t o be com fo rtably above the regula tory minim u m of 100%. The increase was mainly d riven by an increase in ho ldings of liquid asse ts partiall y offs e t by an increase in net cash outflows. Li quid assets incl uded in the LCR comprise High Quality Liquid A sse t s ( H QLA), th e Committed Li quidity Facility (CLF) offered by th e Reserve Bank of Australi a and a d ditio nal quali fying RBNZ securities . In Septem ber 20 2 1, APRA announced it expects ADIs subject to the LCR to r educe their CLF usage to zero by the end of 2 0 22, s ub j ect to f inancial marke t conditions. The facil ity reduct i on is in four phases, the fi rst thr e e hav ing occur red on 1 January 2022 , 1 May 20 22 and 1 September 2022 and the last to occur on 1 January 2 023 (reducing by $9.25 billion on each date). W e s t p ac ’ s p o r t f ol i o of H QL A av eraged $ 1 75.2 bil l i o n o v e r th e qua rt e r 1 ( 30 June 2 0 22 : $161.3 billion) . Fundin g i s so u r ced from r et a il, s m al l bus ine ss, corpo r a te an d i nst i tu t ion al cus to mer dep os it s a n d wholesa l e fun din g. Westpac s ee ks t o minimi se the outfl ows a s so c i at e d w i th t hi s fu nd in g b y targeti ng cu s tomer dep o sits with lower LCR ou t fl ow ra tes and actively mana ges the m aturity p r of i le of it s who les ale fundi n g po rt fol io. We s tpa c main ta ins a b uf fe r o v er the re g u l ato ry minimum of 1 00 %. Effective 1 September 202 2 , A P R A r emoved t he liquidity add - on imposed for breaching APS210 as the remediation met APRA’s requirements for re moval. Total unweighted value (average) 1 Total weighted value (average) 1 Total unweighted value (average) 1 Total weighted value (average) 1 Liquid assets, of which: 1 High-quality liquid assets (HQLA) 175,177 161,295 2 Alternative liquid assets (ALA) 15,512 21,335 3 Reserve Bank of New Zealand (RBNZ) securities 418 1,858 Cash Outflows 4 Retail deposits and deposits from small business customers, of which: 318,760 28,683 324,546 28,623 5 Stable deposits 156,433 7,822 158,523 7,926 6 Less stable deposits 162,327 20,861 166,023 20,697 7 Unsecured wholesale funding, of which: 179,665 85,563 173,072 79,152 8 Operational deposits (all counterparties) and deposits in networks for cooperative banks 70,155 17,473 73,920 18,398 9 Non-operational deposits (all counterparties) 96,535 55,115 88,527 50,129 10 Unsecured debt 12,975 12,975 10,625 10,625 11 Secured wholesale funding - - 12 Additional requirements, of which: 204,823 27,228 204,600 26,750 13 Outflows related to derivatives exposures and other collateral requirements 10,174 10,174 10,178 10,178 14 Outflows related to loss of funding on debt products 819 819 548 548 15 Credit and liquidity facilities 193,830 16,235 193,874 16,024 16 Other contractual funding obligations 6,320 3,261 5,580 3,090 17 Other contingent funding obligations 45,855 3,957 40,303 3,363 18 Total cash outflows 148,692 140,978 Cash inflows 19 Secured lending (e.g. reverse repos) 5,147 - 4,719 - 20 Inflows from fully performing exposures 9,187 5,588 9,713 5,947 21 Other cash inflows 7,058 7,058 6,249 6,249 22 Total cash inflows 21,392 12,646 20,681 12,196 23 Total liquid assets 191,107 184,488 24 Total net cash outflows 145,297 141,660 24.1 Net cash outflows overlay 9,251 12,878 25 Liquidity Coverage Ratio (%) 132% 130% Number of data points used 65 62 $m 30 June 2022 30 September 2022 1 Cal c u lat ed as a s imp l e av e rag e of the daily observation s over the q ua r te r .

Pi lla r 3 re po rt N et s table f u nding r at io W e stpac G roup September 2022 P i lla r 3 re port | 85 N et Stab le Fu n ding Rat i o (NS FR ) d i scl osure Th e NSFR i s a s t r uc t ural m ea s ur e w h i c h re qu i r e s tha t a b a nk h a s su ff i cien t A va il ab le S t ab l e F u n d ing ( A SF ) to co ve r i ts R e quired Sta b l e Fu ndi ng (R SF ) o v e r a o ne y e a r ho riz o n. We s tpa c’ s NS FR a s at 3 0 Sep te mber 202 2 w as 12 1 % 1 ( 3 0 June 202 2 1 2 3 % ). We s tpa c mai n ta i n s a b u f fer o v er the r e g u l at o r y m i nimu m o f 10 0%. No maturity < 6 months 6 months to < 1yr > 1 year Available Stable Funding (ASF) Item 1 Capital 69,231 - - 33,254 102,484 2 Regulatory capital 69,231 - - 33,254 102,484 3 Other capital instruments - - - - - 4 Retail deposits and deposits from small business customers 302,787 80,976 492 94 354,917 5 Stable deposits 152,543 27,323 13 4 170,889 6 Less stable deposits 150,243 53,653 479 90 184,028 7 Wholesale funding 153,677 156,187 41,505 121,830 229,968 8 Operational deposits 76,204 - - - 38,102 9 Other wholesale funding 77,473 156,187 41,505 121,830 191,867 10 Liabilities with matching interdependent assets - - - - - 11 Other liabilities - 17,425 - 72 72 12 NSFR derivative liabilities 13 All other liabilities and equity not included in the above categories 8,532 - 72 72 14 Total ASF 687,441 Required Stable Funding (RSF) Item 15a) Total NSFR (High quality liquid assets - HQLA) 3,178 15b) Alternate Liquid Assets (ALA) 3,903 15c) Reserve Bank of New Zealand (RBNZ) securities 280 16 Deposits held at other financial institutions for operational purposes - - - - - 17 Performing loans and securities 2,171 42,640 43,293 632,751 511,213 18 Performing loans to financial institutions secured by Level 1 HQLA 2,056 6,926 - - 2,749 19 Performing loans to financial institutions secured by non-Level 1 HQLA and unsecured performing loans to financial institutions 115 1,617 7,534 19,394 23,519 20 Performing loans to nonfinancial corporate clients, loans to retail and small business customers, and loans to sovereigns, central banks and public sector entities (PSEs), of which: - 25,799 26,932 135,814 141,474 21 With a risk weight of less than or equal to 35% under APS 112 - 3 1 1,668 1,086 22 Performing residential mortgages, of which: - 7,409 7,872 467,358 333,895 23 With a risk weight equal to 35% under APS 112 - 6,993 7,425 428,989 300,489 24 Securities that are not in default and do not qualify as HQLA, including exchange-traded equities - 888 955 10,185 9,576 25 Assets with matching interdependent liabilities - - - - - 26 Other assets: 9,306 31,964 384 24,042 41,591 27 Physical traded commodities, including gold 686 686 28 Assets posted as initial margin for derivative contracts and contributions to default funds of central counterparties (CCPs) 1,971 29 NSFR derivative assets 2,259 30 NSFR derivative liabilities before deduction of variation margin posted 3,086 31 All other assets not included in the above categories 8,620 3,064 384 24,042 33,589 32 Off-balance sheet items 10,020 33 Total RSF 570,186 34 Net Stable Funding Ratio (%) 121% Unweighted value by residual maturity Weighted value 194,048 8,893 2,319 11,152 15,429 30 September 2022 $m 1 C a l c u la t ed a s to t a l a v a i lab l e s ta b l e f un d i ng d i v ide d b y t o tal requi r e d s t a b l e fu nd in g a s a t en d o f the q uart er .

Pi l la r 3 r e p o rt N et sta b l e f u n d i n g ra tio 86 | W e s tpac G r oup September 2022 Pi l l ar 3 report No maturity < 6 months 6 months to < 1yr > 1 year Available Stable Funding (ASF) Item 1 Capital 67,537 1,311 - 28,183 97,031 2 Regulatory capital 67,537 1,311 - 28,183 97,031 3 Other capital instruments - - - - - 4 Retail deposits and deposits from small business customers 309,645 69,917 416 96 350,927 5 Stable deposits 153,485 23,535 8 5 168,182 6 Less stable deposits 156,160 46,381 408 91 182,746 7 Wholesale funding 154,294 150,855 39,296 129,713 235,816 8 Operational deposits 69,188 - - - 34,594 9 Other wholesale funding 85,105 150,855 39,296 129,713 201,222 10 Liabilities with matching interdependent assets - - - - - 11 Other liabilities - 24,669 - 592 592 12 NSFR derivative liabilities 13 All other liabilities and equity not included in the above categories 15,795 - 592 592 14 Total ASF 684,366 Required Stable Funding (RSF) Item 15a) Total NSFR (High quality liquid assets - HQLA) 3,104 15b) Alternate Liquid Assets (ALA) 4,828 15c) Reserve Bank of New Zealand (RBNZ) securities 248 16 Deposits held at other financial institutions for operational purposes - - - - - 17 Performing loans and securities 2,038 48,457 36,277 616,875 497,695 18 Performing loans to financial institutions secured by Level 1 HQLA 1,935 8,729 - - 2,808 19 Performing loans to financial institutions secured by non-Level 1 HQLA and unsecured performing loans to financial institutions 103 3,108 4,545 20,607 23,449 20 Performing loans to nonfinancial corporate clients, loans to retail and small business customers, and loans to sovereigns, central banks and public sector entities (PSEs), of which: - 28,105 23,222 133,004 138,429 21 With a risk weight of less than or equal to 35% under APS 112 - 16 1 1,441 945 22 Performing residential mortgages, of which: - 7,532 7,647 456,979 326,749 23 With a risk weight equal to 35% under APS 112 - 7,062 7,193 416,918 291,814 24 Securities that are not in default and do not qualify as HQLA, including exchange-traded equities - 983 862 6,285 6,261 25 Assets with matching interdependent liabilities - - - - - 26 Other assets: 10,607 27,603 390 25,620 42,156 27 Physical traded commodities, including gold 794 794 28 Assets posted as initial margin for derivative contracts and contributions to default funds of central counterparties (CCPs) 2,110 29 NSFR derivative assets 407 30 NSFR derivative liabilities before deduction of variation margin posted 2,516 31 All other assets not included in the above categories 9,813 3,258 390 25,620 36,329 32 Off-balance sheet items 9,987 33 Total RSF 558,018 34 Net Stable Funding Ratio (%) 123% 9,282 12,582 197,119 Unweighted value by residual maturity Weighted value 30 June 2022 $m 8,875 2,482

Pi lla r 3 r e po r t Remunerat i on W e stpac G roup September 2022 P i lla r 3 re port | 87 Employees sub jec t t o t h e r e muneration disclos ure req u irements und er AP S 330 At tachm ent G are: ⚫ Senio r mana g ers 1 : T here are 28 emp lo yee s iden tif i e d b y th e We s tpac Gr oup Fit & P rope r Poli cy as re s pon si b le persons . T h ese e mp l oye e s in c lud e th e mo st seni or e xecu ti ve s of We s t pac a n d o t h e r senior employ e es w ith par t icul ar m anagement re spons ib i li ties a s se t out under p ara g r ap h 25 of A PR A Pr ud ent ia l St and a r d C PS 5 2 0 F i t and P roper; and ⚫ Mate rial r isk t ake r s: In ad dition t o t h e se n io r ma n ager s , t here a r e 7 empl o y e es wh o ha v e be en a sse s s e d a s h a v ing th e abili t y to affect the fina ncial soundn ess o f W es tpac a s an Autho rised D epo s i t - takin g I n st itut io n. T h ese are e mp l oyee s wi t h senio r accountab ilit y and auth o rit y wh o c an influen ce k ey r i sk s . Q u ali t ative disc losures W estp a c Group R e muneration P oli c y T h e Group Remunerati o n P olic y for 2022 sets out the m and a tory requi r e ment s to be r efl ecte d in t he des ign a nd m a n ageme nt of remu n er at i on arrang e men t s acro ss We s tpac . We stp ac’ s p urp ose is t o help A ust r a l i a ns an d New Zea lan d e r s suc c e e d . Th e po lic y s up p ort s W e s tpac’s purpose by r e quiring the desi gn and manag eme nt o f rem unerat io n t o align w ith st ak ehold e r int e rest s , s up p ort f i nancial s ou ndn ess a nd e n courage pr udent risk man a gemen t. The p oli c y a p plies t o a l l l e gal e n t it i e s, b usi n e ss un i t s a n d e mploye es of Wes t p a c a nd it s r e lated bo die s cor por a te 2 ( exc ept tem p o rary an d ca sual emp loy e es ). T he p oli c y is r evie w ed by the B oa rd Rem u n e ration C o mm ittee on a regular basi s. A comprehens ive review of the po licy wa s co m p l et ed i n 2022 in order to pre p are fo r the comm en c e me n t o f APRA ’ s Pru dential Standar d C P S 511 Remunerati on (C PS 5 11) . Th e r evised p o lic y , incorporating CPS 511 cha ng es, w as revie w ed b y the Board Remuneration Co m mittee in Se pt em ber 20 2 2 . The re vised p o lic y w il l t ake effect from 1 Janua r y 2023 subject to f i na l a p p roval and w ill b e outlined in th e S eptember 20 2 3 Pil la r 3 report a s re qu ir ed . R e wa rd s t r ateg y a n d 20 2 2 f ra mework W estp ac’ s r em u ne rat ion str ategy is d esigned to attr act an d re t a in tal en te d e m p l oye e s b y re warding t hem for achi ev i ng hig h p e r f ormanc e an d d e l ivering sup erio r l ong - term r e s ul ts for our c us t ome r s a n d shar eho ld e rs , w h i l e ad h er in g to sound r i sk m an a g e me nt and g over nan ce pr i nc ipl es. Se nior ma nag ers and materia l r isk tak e r s are re wa r de d b ase d o n a t otal r ewa rd framework w h ic h is de si g ned to : ⚫ al i g n r emuneration wit h c ustomer a n d sh are holder in te r est s ; ⚫ s u p port an ap p ro pri a t e ris k c ul ture and e mp l o y ee c o n d uc t; ⚫ diff e rent iat e p ay fo r b eha viou r and p erf ormance in line wi th our strategy a nd purp o se ; ⚫ p r o v ide market c ompetitive an d fai r r e mun er a tion; ⚫ e na b l e r ecruitment and r e t ention o f t a le nte d employee s ; ⚫ p r ov id e the abil it y t o r i s k - a dj u s t r emun e ration ; an d ⚫ be si mp le, fle x ible and t ra n spa re nt. For seni o r ma nagers and mate ria l ri sk ta kers at or a b o v e th e G e n era l Manag er level, the t o t al rew a rd fr a mewor k ha s t h r ee compone n ts: f i x ed remun er a t io n, Short Term Va r i ab le R eward (S TV R ) and L o n g T e r m V aria b le Rew a r d (LTV R ) as outlin e d in th e t ab l e bel ow. Th e tota l rew ard framework i s b enc hmar k e d ag ai ns t o th e r fin a n c i a l s ervice s c ompanies bot h i n Aus t r al ia and in t e rn a t i o n ally as re l eva n t. 1 T he se nio r m anager definition u t ilised in these dis c lo sure s reflects t he APRA refe rence to “re sponsible per son” under pa r agraph 57(a ) of Prudent ial Stand ard C PS 51 0 Gover nan ce. The Wes tpac equiva l e nt is the CE O , Gr o up Executives and cer t ain General Man age rs desi gna te d as responsible per s ons in the Authoris e d Depo sit - taking I nstitution. 2 This po lic y does not exten d to any r e lated bodie s cor porate whi ch are se pa ratel y liste d o n th e Austr alian Secur i t ies Exchange

Pi l la r 3 r e p o rt Re mune ra t ion 88 | W e s tpac G r oup September 2022 Pi l l ar 3 report Fix ed remunera t io n Va ri abl e rewar d ST VR L T V R P ur p o se At t ract an d ret a in h ig h quality e mpl oyee s . E nsur e a p ort ion of re muneration is v ari ab le , a t - ris k and l i n k e d to t h e d eli ve ry of a greed t ar ge t s f o r fi n an cial a nd n o n - f inancial measu r es that sup po rt W es tpac’s st rat eg ic p rio r ities. A l ig n a c c o unt a bi l i ty an d rem u ne r a tio n w ith the long - te r m inte r e st s of sh ar eholde r s. D elivery Fi xe d r emu ne ratio n com pr ises ca s h s al ary , s a la ry sacrif ic ed item s , an d s uper a nnuation co n tri b u t i o ns. S T V R is award e d in ca sh and re str ic te d sha r es 1 ba sed o n an a s s ess m e n t of pe r form a nc e o ve r t he p rec eding ye a r . Per fo rm a nce is a s s esse d using a sco re card c o mpris ing : ⚫ a v al ues and beha viours a s sessm e nt agai nst Westpac 's values; ⚫ f ina nc i al an d non - f ina n c i a l meas ure s linke d t o Westpac ’ s ke y str a tegi c p r io r it ies; a n d ⚫ a modi fie r t o s upp o rt the a dju stm e nt of the outc o me , u pwards o r d o wn w ar d s (includ ing to z er o ), for risk an d reputat i o n , peo p l e mana g em ent , e nv i ronm ent a l , socia l and gov er nan ce considerati o ns a n d a n y o t her matters a s det ermined by th e Boar d. R est r ic t ed shar e s vest i n p o r tio n s reflec t i n g the sco pe and n atur e of an i nd i vi d ua l ’s rol e and r espon s ibi lit y , sub ject to c ontin u ed servi c e and a d j us tment . T he m ax imu m ST VR op po rtu n i ty for th ese emp loy e e s i s c a p pe d . LT V R com prises: ⚫ f or Group E xecutives , per for m anc e s hare r ights w hic h ves t a fter f o u r y ears su bject to the ac h i eve m ent o f a re lati ve T o ta l Sh a r eho lde r R et u rn (TSR ) perfo r ma nce hur d le , c o n t in ued s e r v ice and a d j us tm e nt ; and ⚫ f or Gen era l M anagers , re s t r i c t ed s hare s or share rig hts with ou t performance hurd les wh ich ve st afte r f o u r y e ars, subje c t to c ont inued se rvic e a n d adj ustmen t. E mp lo ye e s ma y r ece ive an a nnua l awar d of We s t p ac or di nar y sha r e s u p to t h e va lue o f $ 1,00 0 u nde r t he Emplo y ee Share P l an . E m p l oy ees w h o r e ceived an e q uity award during the yea r, fo r e xam p le, a s d e fer re d S TV R o r L T VR, are n ot eli g ib l e to receive an Empl oy ee Sh ar e P la n aw a rd for th at yea r . The tar get m i x o f fi xed and v a r ia ble r e w a r d vari e s a cros s e mpl oye es and g r ou p s of em p lo y e e s . Fa cto rs t h a t can in flue n ce t he mix include the ro le ty pe , re g ula t o ry r equ ir e me nt of th e role, le ve l of re s p onsi bility of t he i nd iv idu al , m ar ke t b enc hma rks a nd p erform a nce . F i x e d r em un era tion F i x ed remu n e r a ti on i s a l igne d t o t he mar ket a n d r eview ed an n u a l l y . It ta k e s i nto acc ount the size, responsi bilitie s and c o mpl e xit y of t he ro l e, a s w ell as the sk il ls a n d e x peri ence of the emp lo ye e. Fi xe d r em un e rat ion co mp rise s: ⚫ cas h sa lar y ; ⚫ sa l ar y sac rific e d it ems; a n d ⚫ s uper a nn u atio n o r s upe ran nuati o n e quiva le n t c o n t r i bu tio ns f o r employe es i n Aus tralia, New Ze aland a nd so me oth e r c o u ntr i es in wh ic h w e o p erate. V a riable re w a rd V ariable rew ard is d esi gn ed to : ⚫ en c our age em pl oyee condu c t a lig n e d t o c us tom er an d sharehold e r in t e r es ts; ⚫ s up p o rt Wes t pa c ’s l on g ter m f in a nci a l s o undne s s and risk m a nage m e n t framewo rk; ⚫ alig n remuneration with p rud ent r isk - ta k i n g , align to and create focus on strategic ob je ctives a n d a ll o w fo r a dju s tments to refle c t t h e ou tcomes of b us iness act iv i ti es , th e ri sks re la ted to bus i nes s a c t i vi t i e s ( t a k i n g a c c ou nt of t h e c ost o f t he a ss o c iat ed ca pital , w h ere r e le vant) an d t he t i m e n ecessar y f o r out comes to be re li ably mea sure d ; ⚫ a ll o w for ad j us tm e nt s up wards and downwards, inclu ding by an amo u nt that i s p r op or tionate to the fail u re o f a n Ac co u nta b l e P e r s o n 2 to com p ly wi t h t he i r ac cou ntab il i t y oblig ati o ns u nd e r t he B ank i ng Ex e cu ti v e A ccountabi li ty Re gime; and 1 D e fe rr ed ST VR is a warde d in u n hurd led s har e r i ght s t o s o me employees ou ts i d e Austr al i a . 2 As d e fi ned in the B an k i n g A ct 1959 excludin g N o n - e xecu ti v e D ir ectors.

P i llar 3 r e p o r t Remu n era tion W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 89 ⚫ re f l e c t Aust ral i a n an d internat i ona l regul ato ry r e quir em e n t s. T he r e are t wo fo r m s of v a riable r e w a rd : S hort Term V ariable Rew a rd ⚫ P er f orma nce i s m e a s u r ed ag a i nst ri s k - a d justed f inanc i a l a nd non - f i n anc ia l m e asu res th at sup p ort th e Group's s tra tegy to d e te rm in e the si ze o f th e a w a rd . ⚫ STVR i s a w arded i n cas h a n d, i f S T V R is above t he de f e rral t h reshold s , a por t ion o f th e STVR is all o ca ted a s re str i c t e d s h a r es or u nhu rdl e d s h are rig h ts. I n f o rm at i on on t he de fer r al fra m ew ork is set ou t in the ta ble below . L o ng T er m Var iab le R ewar d ⚫ Th e CEO and Gr o u p Exe c utives re c ei v e an n u a l L T VR awa r ds in t he fo r m of per f o r m ance share rig ht s whi ch ves t a fter four ye a r s s u b j e c t t o t h e a chi e vem e nt of a perfo r ma nce h ur dle , con ti nue d se rv i c e a n d ad justment. ⚫ The CE O and Group Execut i ve s onl y rec eive v alu e from their L T V R aw a rds whe r e v es t i ng o c c urs. ⚫ A pe r fo rman c e sh a re ri gh t i s n o t a We st pac share and do es not at t ract the pay m en t o f d i vi dends . ⚫ Sen io r managers a n d mat e rial ri s k t a k e r s at t he General Ma nag e r lev e l receive an nual L TVR award s in th e f o rm of rest ric ted s h a re s u n d er th e Restrict ed Shar e P lan or un hurd l e d s h ar e r ig hts un d er t he W est p ac Performan ce Pla n. The CEO a nd Group Executives do not r eceive unhurdled awards . The s ize of t he aw ar d is set wi th reference to m a r ket b ench mar k s, i n d i vi du a l performan c e ove r time , successi o n potent ial and k ey sk il l s . Em p loyees a re req u i r ed t o c om p ly with mandat o ry risk manag e m en t a n d com plianc e r e qu ir e me nts a s t h e y app ly t o th eir par ticul ar rol e a n d busine ss . Fa il u r e to meet thes e r e quir e men ts w i l l im p act r e m u n e r at ion , inclu di ng e l i gib ility f or a fix e d pay a d justme nt a n d v ari a ble r eward p ar t i ci p at i on . D efe r ral A ll empl oyees w h o rec e iv e a n ST VR aw a rd a b ov e a t hr esho ld h ave a p ortio n of t he a w ard def e r re d . D e f erral arrangem ent s dep e nd on t he v al u e o f t h e a w ar d a n d the le ve l a n d t ype o f role. Th e t able b elow s et s o u t the varia ble re w ard de f er r a l a r r ang e ment s for se nior m a n ag ers an d m ateria l r i sk t a ke rs. Rol e Ty pe Def erral Arran gement 1 CE O a nd Group E xec u tiv e s ⚫ 50% of an y ST VR i s d eferr ed equ ally o v e r tw o y e a rs G ener al Man a g e r s ⚫ 4 0% of a ny ST VR i s deferr ed eq ua lly o ve r tw o yea rs Ge n er al M a n a g e r s i n We s tpac Institu t i ona l B an k – Financi al Marke ts an d Tre asury ⚫ 4 0 % o f a ny ST V R i s d eferr ed f or four years ⚫ 5 0% defe rra l for por tion of a l l ocation above $5 00 ,000, v esting in f u ll aft e r f o u r y e ar s Westp a c Ins t ituti o n al B ank a nd Treas u ry emplo ye es ⚫ 25 % d e f e r r a l whe re S T V R al l o c ati o n i s $1 5 0,000 o r great e r , ves t ing equal l y o v er th re e y e ars ⚫ 5 0 % de f erra l fo r portion o f alloc ati on above $500 , 000 , v esting equally ove r thr ee years ⚫ 70% d ef e rra l f o r por t io n of all o ca tion abov e $2 ,0 00,0 0 0, vest i ng equall y ove r t h r e e y e a rs O th er em pl o ye e s ⚫ 2 5 % d ef er r al wher e STVR a l l ocat i on i s $ 15 0 ,0 0 0 o r g re a te r , ves t ing e qual ly over two y ea rs ⚫ 50% def er ral for po r t ion o f alloca tion above $500, 00 0, ves ting e qu a lly o v e r two ye ars ⚫ 70% d e f erra l for p or ti on o f a llocat ion abo v e $ 2, 0 00 , 0 0 0 , v e s ting eq u a l ly ov er two ye a rs S T VR def erral p e r i ods a re s et wi t hi n th e c on t ex t of t h e mar ket , and the overa ll G roup ris k pro file . Th e ST V R deferr al pe riod fo r em plo yees i n We s tpa c In s t i t u tion a l Ban k and Tr easu ry is l onge r t h a n the re s t of th e G rou p . S T V R i s d efer re d i nt o e qu i ty in t he form of r estrict e d West p ac o rdina r y s har es (f o r m ost em ployees) or We stpac sh ar e right s (f o r s om e e m ployees outside Aust ralia) . By d e ferr ing a p or t io n o f t h e ST V R as restr i ct ed e quity, ST VR aw a r ds ar e b e tter a l i gn ed w i t h t h e i n t erests o f s ha r eh o ld ers as the value of the de f er re d por t ion i s t i ed to th e s hare p rice at t h e end of t he r est rict i on p eri od. The deferr al fram ework pro vid es t h e ab il i ty to reduce u n v e s ted S T VR , i n c lu d in g to z ero, if : ⚫ h av i n g reg a rd t o ci r c ums tan c e s o r in f o r m ati on w h ic h h as co m e t o li g ht afte r the gran t o f t he a w ard, a ll or pa r t of the in itial awa r d was no t ju st ifi ed ; ⚫ n ece s sar y to protect t he fina ncial sou ndn es s o f We st p ac or to respo n d t o si g n ific a n t u n ex pect ed or unint e nd e d cons e qu e n ces t h at wer e n ot f or e s e e n; and / o r 1 T h reshol ds sh o w n i n d o l l a rs ap pl y to A u s tra l i a a n d Ne w Zea la n d .

Pi l la r 3 r e p o rt Re mune ra t ion 90 | W e s tpac G r oup September 2022 Pi l l ar 3 report ⚫ an accou n tab le p e rs on ha s failed t o c om p ly w i th t h e ir ac cou n ta bi l ity ob ligations under th e Ba nk ing Executive A ccountability Regime . R emu ne rat i on g o v ernance T h e Group Re mu ne ra t i on Poli cy i s sup p orted by an e st a b lished go v ernanc e str uct u re, p l a n s and fr a m e w or k s t ha t a re d esign ed t o su ppo r t remun e rat ion d eci s io n - m a k i ng acro ss th e Group . This governance structure is set out below. Boa rd The Bo ard p rov i des s tr ategic gu i dan ce f o r th e Gr oup a n d has oversigh t of mana ge men t ’ s i m ple ment ati o n of W e s tpac ’s str a te g i c initi at i ves . T he Bo ard has o v e r a ll ac co u n t a bi l ity f o r re viewing and ap prov i ng remu n era tion for se lec t grou ps o f e mp loyees . With o ut limiti ng it s r o le, t he Board ap p rov es ( f ol lo wing reco m menda t ion from t he Boar d Rem un er a t ion Com mit t e e , wh e r e ap plicab l e ) : ⚫ cor por a te goals an d obje c tiv e s r e levant to t he remune ra t ion o f th e CEO; ⚫ the si ze of the var iabl e r ewa r d poo l; ⚫ adj ustments t o var iable re mu nerat ion in ac cordance w i th t he G r ou p Rem un era ti on P o licy ; and ⚫ r e mun eration a rrangem ents and v ari a b l e re m unera t i o n ou t co mes an d adjus t m ents in a c c o r dance wit h the Group R e m uneratio n Policy for the C E O , Group Executiv es, any oth er employees who a re account able p er s ons u nder the Ba nkin g Ex e cu tive Acco unt abili ty R egime , an y o th er pers o n spec if ie d b y A P RA a n d a n y oth e r p er son the Board de termines . T h e B o ard ha s t h e d is cre ti o n to d e f er , adju st or w ithdraw a ggregate a nd indi vi dua l va r i ab l e r ew ar d . F u r t her det a il i s c o n ta ine d in the Bo a rd and C om mi tt ee Chart e r s w h i ch a r e av ai lable on Wes tpac’s we bs i t e 1 . Boa r d Re mu ner a t io n C o mmitt e e Th e Bo ard Rem u n er a t i o n C o mmit t e e assis ts t h e Board to discha rge it s respo nsibilities b y o v er see i n g the de si gn, operation and moni toring of the r emune r at ion fr amework o f W estp ac a nd i t s rela te d b o dies c or pora te . It als o ove rsee s t he g enera l re mu neration practic es acros s th e G r o up in the cont ext th at these p r a cti ces fairl y an d r esponsibly r eward individuals e n gaged by th e Group havin g regard to performance and t he remu neration fr a mework and tha t p o licie s of th e Gr ou p are a ligned t o West pac’s r is k management framework and l eg a l a n d p rudent i al requir e me nts. T he B oard Re mune r ation C om mi tt ee rev iew s a nd make s rec om mend a t ions to t he Boa rd in rel ati on to : ⚫ t he re munerat ion fra mework as a r ticulated in t he G roup Remuner atio n P o l ic y ; ⚫ remuner a tion arra n g em en ts and va r i abl e remunera t i on o u t c om e s and a djustments i n accordance with the Group R emun eration P olicy for the i ndividual s a nd g ro u ps outlin e d above in the description of the Board’s role ; ⚫ th e rem un era ti on a rrang e m ents and o u t co mes of empl o yee s o f t he Wes t pac Group in accordance wit h th e G ro up Remuneration Po lic y; ⚫ c or porat e go a ls and objec tives relevant to the r e mu ner a tio n o f the CEO; a nd ⚫ the design and terms of a ny eq uit y - based plans including plan rules an d any a pplicable p e r f orman ce hur d les . In c arryin g ou t its du t ie s, the B o a rd R em u n e ra ti on Comm i t tee a c c e ss es ri sk an d f in a n cial c o nt r ol per son ne l a n d enga g es e x ter n a l adv i s e r s who are independent o f m a n a g e ment . The curren t m emb ers o f the Board Rem uneration Commit t e e a r e in d e p e nd e nt N on - e x ecu t ive D irector s. F u rther d etail is c o nt a i n ed i n t h e B o ar d Remuner at ion Comm it t e e C h ar t e r whi c h is availa ble o n West pac ’s w e bsi te 2 . Th e r e w e r e ni ne B oard Remu ne ration Commit tee m eet i ngs h e ld d uring the fin ancia l ye a r e n ded 3 0 S e pt emb e r 20 2 2 . Th e 2 02 2 B oard Remunerat io n Comm i tt ee Cha ir fee i n clu s i ve o f s u p e ra nn uatio n w a s reduced in Augu s t 2022, fr o m $63,800 to $60, 000 . The fee in cl u s ive o f superannu ation fo r Boar d Remuner atio n Comm itt ee member s is $29,000. In te r acti o n wi th oth e r Board Co mm it tees Ma n a g e m e nt re m uner atio n overs ight Members o f t h e Bo a r d R em u n er a tion C omm it te e a r e mem b ers o f either the Boar d Ris k Co mmit te e , the Bo ard Aud it Committ e e or the Board Nom inations & Go vernance Committee . T he c ro s s m em be r s hi p o f thos e Co m mi ttees su ppor t s al ign me n t b e t w ee n r isk and rewa r d. Th e Board R e m u ner a t i o n Com mi tt e e se eks f ee db a ck f rom and c o n si de rs matters r a ised by ot h er Boar d Committee s wi th re s pect to remunera tion o u tco m es , a d j u s t m e nts to re m u n e rat i on in ligh t of relevant m att ers an d a lig nm e nt o f re mun e r a t ion w ith t he r i s k m ana gement framewor k . The C ha i rs of the Board Risk C ommittee and the Board Audit Committee report periodically to the Board Remuneration Committee . Divis i on s c o n sider areas o f r is k and con si de r p ot e n t ial implications for rem uner a ti on. D iv i sions p rovide inf ormation to t h e Gro u p R e m u n e ra ti o n O versig h t Co m m i t t ee which in turn co nside r s c on s ist ency o f remune rat ion ac r os s t h e Group and provide s i n form a t i on to the Bo ar d Remun eratio n Commit te e a nd Bo a rd f or revie w a nd d e cision - m a ki ng a s appro p ria t e . 1 The Board C h arter w as up d ated effective 12 August 2 0 22. 2 The Board Remuneration C ommittee Charter was updated effective 12 A ugus t 2022. Am endments were made to the Board Remuneration Committee Charter and the Board Charter to align wi th CPS 51 1 requirements while all owing for cu rrent practice in relation to approval of remuneration for individuals under C P S 510 to continue wh il e ap plicable.

P i llar 3 r e p o r t Remu n era tion W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 91 Remun er a t i on co nsu lt an t s I n 20 2 2 , t h e B o ard retained Guerd on Assoc i a tes to pr ovi d e special i s t info rmat i o n on ex e c u tiv e r em u nera t ion a nd oth er remuneratio n ma tter s . The s er vices were pro vide d dir ect ly t o th e Board R emun e r ati on C omm i tte e i n d epen de n t o f man agem en t . T he Ch air of the B o a r d R emu n e r a t io n Committe e ove rs ee s t h e e n g age me nt a n d associ a t ed cos ts . W o r k u nde r t a ken by G u erdon A s so ciates du ring 2 0 2 2 i n clu ded t h e provis i on o f in form ation rela tin g to t h e be n c hmar k ing of N on - e xec uti v e D i r e c t o r, CE O an d Gr o up Ex ec u t ive remunera tion . I n 20 2 2 , n o r e muneration r ecommen da tions , a s pr es cri b ed und er t h e C orp o ra t ion s A ct 20 0 1 (Cth ) ( Corpora t io ns Act ) , were ma de b y Bo ard a dvis e rs . Ind e p e nd ence of r isk and f in a n ci al c o nt ro l e m plo ye es T he r em uner a t ion struc t u re for risk and fin a ncia l con tr ol emplo y e es i s d esigned to sup port in depen dence a n d av o id c on fl ic t s o f i n te r est . Th e re m une r a tio n mi x for r isk and f i nanc ial contr o l e mp loyees ge nerally con s i sts of a h igh er p r o po rt ion of fixe d pay to var i ab le r e w ard. In a d dit ion, t he Gro up f o ll o w s a pr o ces s o f ‘ t w o - u p’ appro val for a ll re mu n e ra t i on d e c i s ion s . Th i s m ea n s t h at r e m une rati on i s ap p r ove d b y the ne x t m ost s enio r p erso n a b ove t he empl oy e e’s ma n a ger . T hi s ap p roa ch is a l so r e flec ted in o u r re qui r em e nt f o r th e Boa r d , b a sed o n reco mmen d ati o n s f r om th e Bo a r d R e m u n e r ation Committ ee , t o ap p r o ve , i n a cc ordance wit h t h e Gro up Remunera tion P o l i c y , the r e mun e rat io n arr angements and v ariable remu neration o utc omes and adjust ments fo r the CE O a n d G r o up Ex ec u t iv es a n y othe r em p l oye es who are a ccountable p ersons under t h e B an k ing E xecutive A ccou nt ability R eg ime , an y ot her p e r s o n sp e cifie d by APR A and a ny ot h e r per s on th e Boa rd determines . R emuner at ion and r isk W estp ac ’s r e m une rat i on st ra te g y , t o ta l r eward f r a me wo rk, p o l i ci es an d pra ctic es refl e ct t he sound risk manage m e n t t ha t is fu ndame nta l to th e way the G r oup op era tes . W es t p a c i ntegr ates r is k mana g e m e nt i n t o r e m unera t ion by designi ng a n d man agin g a rran ge men t s in a m an n e r tha t e n co u ra ge s b e h av i ou r t hat s u p p o rt s our l o n g t er m f i n anc ial so u ndne s s an d risk m anage ment fr a m e w o r k. Th e p erfo r man ce o f t he G ro u p a n d each div isi on is r e vie wed and me a sured wi t h r efer e n ce t o how r isk is managed in l i ne w ith We s tpac ’s Ri s k Appe ti te S t a tem ent an d t he r e s u l t s i n fl uence r e m un er a ti o n o u tc om es. T he key ri s k s t h at a re consi dered includ e s t r a te g ic r i sk , ri sk cult u r e , o per ati on al ris k , c ompli anc e and condu ct, f i nancial c r ime , cy b er r i sk , r e puta tion al and sus t a inab ilit y r isk , c api t a l ad e quac y , f u nd ing an d l iq uid i t y r is k , credit ri sk a n d m a r k et risk . I n a ddi t ion , STV R ou tcomes are in fluence d b y r e l e va n t r isk - r e la t e d m at t ers throug h the Bo ard’ s a p pl i c a tio n of t h e sc o r e c ard m o d i fie r , which is i n fo rm ed b y risk an d c o mplia nc e i n p u t in de p end ent of th e b u s i nes s o r f u nc ti onal ar ea . T h e defer r a l fr a m e wor k pro v i d e s consistency across t he Grou p and en h a n c e s o u r r emu n era tion f ram ew o r k f rom a risk mana gem ent pe r s p ect i ve. T h e B o ard h as t h e a bi l i ty to a dj u s t all forms of unve s t e d d e f err ed v ar i able rew ard down w ards, in cl u d in g to zero, if having regar d to c i r cu mstance s or infor m atio n wh i ch h as come t o l ig h t a f te r th e gra nt o f the def er re d e qui t y or c ash , a ll or p art o f th e i n it ial a w ard was n o t ju s t if ied. In a d d iti o n, f ai lure to m e et m a nda to r y r i sk m a nag ement an d complia nc e re qu ire ments im p act s eligibi li ty f o r a fixed p a y i ncrease an d v ari a ble rew a r d p ar t i ci p a t io n an d may result i n dis c i p l i n a r y a ct ion and/or term ina t i on o f employmen t. Remun e r a tio n a djust m en t s f or p rior p er iod ma t t er s T he B oa rd ma y a djust all f orms of unve s te d d eferre d variable reward do wnw a r d, incl u di n g to z e ro, fo r m att e rs aris in g f ro m a p r i or p e ri o d if circumst ances o r i nf o rm a ti on co me to ligh t w h i ch m e an that in the Bo a r d ’ s v i ew all o r p ar t of the a w ar d was n o t ap p ro pria te . Hav in g decided th a t a down war d a dj ust ment is appropriate a nd det e r mined t h e a moun t o f an y ad j ustm e nt , typi cal ly the B o ar d w il l firs t apply that a d j u s tm e nt ag ai nst the STVR for t he c u rr e nt perf ormance p e r iod . I n in s t a n c es whe r e an a dj ustmen t to c u rr ent ye ar ST VR is insuffic i ent or u nav a il ab le, the Boa rd may apply the ad j u stment t o u nves ted def e r re d var i ab le rew ard . Claw b a ck p r ov i des a n additi onal m e c h a ni s m t o re cov er vested def e r red v ar i able re ward in c e r tai n l imit e d c i rc u mst a nces f or award s ma de in res pe ct of p e rformance p e riods co mme n ci ng on or afte r 1 October 2 019 . I t is the B oa r d’s cur r ent i nt e ntio n t ha t cl awb ac k wil l on l y be cons idered fo r rel e va n t c o nd u ct t hat occurred on o r aft e r 1 Octobe r 2019. V a ria b le r ew a r d p oo l T h e Board d etermi n e s th e s ize o f the va r iable rewa r d pool e ach y e a r. This is based on the Gr oup ’s p e rformance f or t he year and the variable reward oppo r tu n i t y a cross the wor kforc e a n d a dis cr etionary overla y t o refl ect quality of perf o r mance a nd/or excep tiona l circumstance s. Non - financ ial measu r es are reflected in bot h t he Group’s performance a nd th e ov e rlay, whic h inc ludes talen t retention and market co m pe t i t iv e ness consider ation s .

Pi l la r 3 r e p o rt Re mune ra t ion 92 | W e s tpac G r oup September 2022 Pi l l ar 3 report S core ca rd s ST VR awa rd s are det e rmined with re f e r ence t o an ass essment o f pe rf o r man ce . F o r 2 0 2 2 , th e CE O , G roup E x e c ut ives and Ge ner a l Ma n ager s pe rform an c e wa s a s s e s sed ag ai nst a s cor e c a rd spli t int o t h r ee s e ctio ns . ⚫ V alu e s a n d b e h av i ours asse ssm ent : C on side rati on of th e degre e t o which individuals h ave de mons trate d Westpac's valu e s o f 'He lpf u l , E th ic al , Le a d ing ch an ge , P erforming a nd S im pl e '. ⚫ F o c u s a r e as : C on sid e r a t ion of f i nanc i a l a n d n on - f in anc ia l m e a sure s aligned t o W e s tp a c ’s k ey st ra tegic pr iorit i es t o su pp ort an i niti al s co r eca rd r esult . In ass ess ing out comes for each fo cus a re a , a n umb e r o f f a c to rs a r e taken i nt o a cc ount. F or e x a mp le : o m a tte r s not kn o w n o r n o t r ele v an t a t th e beg i n ni ng o f the p erf o r manc e period w h i c h are r el e v an t t o the u nde r o r o ve r pe rf o rman ce of the emp lo y ee ove r the performa nce p e r iod ; o the degree o f d iffi c ul t y ass oci a t e d wi t h a ch i evi ng the t ar g et s that ha d b e e n s et in the s core c ar d (an d t h e c ont e xt o f tho s e ta r g et s) ; o wh eth er th e budg etary assu m p t i o ns t h at were p re sent whe n p e r f orma nc e t arge ts we re s e t r em a in cor r ect (and the cur re n t fi nanci al enviro nme nt c o mp a r ed w ith t h o s e as su mp t ion s ) ; and o comparisons with the performance of Westpac’s main competit ors having r egar d to customer benchmarks as well as the composition and/or c on sistency of financial result performanc e . ⚫ Mo difier: s upp or t s the a dju s tmen t o f t h e ou t come , u p ward s or d own w ar ds ( in c lu di ng t o z ero ) , for r isk a n d r epu t at i o n , p eo p l e ma n agem ent , environ men t a l, s oc ial and governanc e considerations and an y o t her m a tte rs a s d e te rm i ned by th e B oar d . The t ab le b elow set s ou t the foc u s ar eas of the Grou p s c or e car d f or 20 2 2 which fo r ms p a rt of t he C EO s coreca rd . C a t e g or y We ight i n g E x a mp l es of mea sur e s 1 F ix 3 0 % ⚫ D e live r our Customer Outcomes and Risk Excellence (CORE) program ⚫ Im prove risk management measures S imp l ify 2 0 % ⚫ Exit non - core businesses ⚫ Address complexity for our cu stomers by reducing products ⚫ Transform using digita l and dat a to improv e the cus tomer exper i ence Perfo r m 50% ⚫ Enhance returns and optimise capital ⚫ Growth i n core markets ⚫ Customer service ⚫ People, capability and culture including risk culture The Group’s pr iorities are set out in the Group s corecard, which forms par t of the CE O’s s core card . Commo n ele ments appear in senior manager and material risk taker s cor ec ards together with individual objectives reflecting d ivisional measures . For 2022, t he p e rfo r ma n ce m eas ures a nd w eighti ngs wit hin t he CEO sc or e card continu e d t o be align e d w i th t h e G roup ’ s s t r at e gic pri orities o f ‘ Fix. S i m p l if y . P e r for m ’ . At a G r oup l evel, t he ‘ Fi x ’ focus area con tains m easur e s o n t h e d e l i v e ry o f t h e CORE pr o gra m a n d impr ov ement in risk ma n agement . P erfor ma nce measu res a n d f ocu s a reas fo r s e ni or m an ager s an d mat er i al r i sk t a k e r s a re c o ns istent wit h t hat o f the C EO ’ s: ⚫ P e rfo rm a nce measu res such as W estp ac Gro up a nd d iv is i o n al c a sh e a rn i ng s, r e t u r n on t angible e q uit y , co r e e arni ng s gro wt h a nd ex pense ma na g e me n t a cc o unted f o r u p to 4 0 % o f se n io r ma na g ers ’ scor e ca r ds. ⚫ T h e CE O and e ach se nio r manage r are a s s ess ed on specif ic r isk m eas u res that m ay i nf lu en ce an y d i s cre t i on a r y ad j ust m e n t t o the sc or ecard . ⚫ Sco r e c ards f o r ma t eria l r isk tak ers a t t h e G eneral M an ag er l e vel m a y als o in cl ud e r i sk m e asu r es rel a ted t o f in a n ci a l r is k and b alan c e s h ee t man ag emen t with non f i na n ci a l ris k i n clude d i n the modif ier sect ion o f the s cor e c ar d . Met r i cs i n cl u de th e CET1 capital r a t i o, the NSFR and t he LCR . ⚫ S e ni or M an a ge r s a n d m at e rial r is k ta ke r s be low th e Ge n er a l Ma na ger l evel h ave g oals a nd obj ect i ves t hat are set in agr ee me n t w i th the i r m a n ag e r wit h no st an da rdi s ed pe rcent a g e wei g htin gs . 1 I ndivi d ual measur es wil l di f fer fo r eac h seni o r manag e r.

P i llar 3 r e p o r t Remu n era tion W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 93 Qu a ntita t ive Disclosu r e s For 2022, fou r seni or managers received paym e nts totalling $1,794,288 and on e material risk taker received payments totalling $1,385 ,916 reflecting annual incentives foreg o ne f r om th e ir p revious employers on appointment to Westpac. Five senior managers received termina ti on p ayments totalling $4,834, 7 61 on their termination from We stpac. No s enior manager or material risk taker received a g uaranteed bonus in 2022. De fe r red r e m u n e r at i on $000 Total amount oustanding 1 Paid out in financial year Explicit reductions 2 Implicit reductions 3 Total amount oustanding Paid out in financial year Explicit reductions Implicit reductions Senior managers 80,161 4,577 (8,931) (17,250) 102,487 6,365 (5,014) - Material risk takers 9,058 3,272 - (1,949) 9,537 2,891 - - 30 September 2022 30 September 2021 T ot al valu e o f rem u nerat i o n a w a r d s for t he c urre nt finan c ial ye a r f or se nio r ma na ger s an d ma t e r ial r isk take rs 4 5 6 7 8 9 $000 Unrestricted Deferred Unrestricted Deferred Unrestricted Deferred Unrestricted Deferred Fixed remuneration - Cash based 5 23,238 - 5,169 - 26,350 - 4,267 - - Shares and share- linked instruments - - - - - - - - - Other 6 881 - 303 - 1,089 - 353 - Variable remuneration 7 - Cash based 8 7,346 - 4,807 - 7,260 - 5,023 - - Shares and share- linked instruments 9 - 17,602 - 5,254 - 14,361 - 4,281 - Other - - - - - - - - 30 September 2022 30 September 2021 Senior managers Material risk takers Senior managers Material risk takers 1 Value of unvest ed holdings at 30 September. All outstanding deferred remuneratio n is s ubject to either expl icit or implicit adjustments. 2 The 2022 explicit adjustment reflects testing of the RO E and TSR hurdles on 1 October 2021. Explicit adjustme nts may also include malus, clawback or similar reversal s or downward reval uations of a wards. 3 Implicit adju stme nts include fluctuations in the value of shares or performance units dur ing the ye ar. 4 Prepared in accordance with APS330 Table 22A and accounting s tandard AASB 2, consistent with the process for the Annual Report. 5 Cash base d fixe d remuneration is the total cost of salary, sala ry sacrificed benefits (including motor vehicles, parking, et c. and any associated fringe benefits tax) and an accrual for annual leave entitlements. 6 Other fixed remuneration relates to p ost - employme nt ben efits. Senior manager s and material risk takers are provided with insurance cover under the Westpac Group Pla n at no cost. Superannuation benefits have been calcula ted consis tent with AASB 119. 7 28 of 28 senior managers and 7 of 7 mate rial risk ta kers r eceived variable rewa rd in respect of 2022. 31 of 35 seni or managers and 7 of 7 material risk ta kers received variable reward in respect of 2021. 8 Cash based variable reward reflects annual cash performance awards accrued but not ye t p aid in respe ct of the year ended 30 Sep tember. 9 The value of restricted shares (or share rights where relev ant) is am ortised over the performance year the award was earned and the applicable vesting period. The amount shown is the amortisation relating t o 2022 and t he 202 1 comparison.

P ill ar 3 repo rt A p p e n d ix I | R e gula to r y c api t al r ec o n c il i at i o n 94 | W e s tpac G r oup September 2022 Pi l l ar 3 report B al ance S he et Re con ci l i a tio n 30 September 2022 $m Group Balance Sheet Adjustment Level 2 Regulatory Balance Sheet Reconciliation Table Capital Disclosure Template Assets Cash and balances with central banks 105,257 (7) 105,250 Collateral paid 6,216 - 6,216 Due from subsidiaries - 115 115 Trading securities and financial assets measured at fair value through income statement (FVIS) 24,332 (48) 24,284 Derivative financial instruments 41,283 (7) 41,276 Investment securities 76,465 (231) 76,234 Loans 739,647 - 739,647 Other financial assets 5,626 (107) 5,519 Current tax assets 16 - 16 Investments in associates 37 (10) 27 Property and equipment 2,429 - 2,429 Deferred tax assets 1,754 (8) 1,746 Table a Intangible assets 10,327 54 10,381 Table b Investments in life & general insurance, funds management & securitisation entities - 316 316 Table c Other assets 734 (2) 732 Assets held for sale 75 (75) - Total assets 1,014,198 (10) 1,014,188 Liabilities Collateral received 6,371 - 6,371 Due to subsidiaries - 641 641 Deposits and other borrowings 659,129 - 659,129 Other financial liabilities 56,360 (52) 56,308 Derivative financial instruments 39,568 (7) 39,561 Debt issues 144,868 - 144,868 Current tax liabilities 219 (1) 218 Provisions 2,950 (20) 2,930 Deferred tax liabilities - - - Loan capital 31,254 - 31,254 Table d and e Other liabilities 2,938 - 2,938 Liabilities held for sale 32 (32) - Total liabilities 943,689 529 944,218 Equity Ordinary share capital 39,666 - 39,666 Row 1 Treasury shares and RSP treasury shares (655) (57) (712) Table f Reserves 2,378 (182) 2,196 Table g Retained Profits 29,063 (300) 28,763 Row 2 Non-controlling interests 57 - 57 Total equity 70,509 (539) 69,970

Pil l ar 3 re por t A p p e ndi x I | R e g u lator y c a p i tal re co nc i lia ti on W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 95 $m 30 September 2022 Capital Disclosure Template Reference Table a Deferred Tax Assets Total Deferred Tax Assets per level 2 Regulatory Balance Sheet 1,746 Deferred tax asset adjustment before applying prescribed thresholds 1,746 Row 26e Less: Amounts below prescribed threshold - risk weighted (1,746) Row 75 Total per Capital Disclosure Template - Deferred Tax Asset - Row 21 / 25 $m 30 September 2022 Capital Disclosure Template Reference Table b Goodwill and other intangible assets Total Goodwill and Intangibles Assets per level 2 Regulatory Balance Sheet 10,381 Less: Capitalised Software Disclosed Under Intangibles (2,263) Row 9 Total per Capital Disclosure Template - Goodwill 8,118 Row 8 $m 30 September 2022 Capital Disclosure Template Reference Table c Equity Investments Significant Investment in financial entities 13 Equity Investments in non-consolidated subsidiaries 316 Total Significant Investment in financial entities 329 Row 73 Non-significant Investment in financial entities 157 Row 72 Total Investments in financial institutions 486 Row 26d Investment in commercial entities 17 Row 26g Total Equity Investments before applying prescribed threshold 503 Less: Amounts below prescribed threshold (503) Total per Capital Disclosure Template - Equity Investments - Row 18/ 19/ 23 $m 30 September 2022 Capital Disclosure Template Reference Table d Additional Tier 1 Capital Total Loan Capital per Level 2 Regulatory Balance Sheet 31,254 Less: Tier 2 Capital Instruments Reported Below (21,459) Add: Capitalised Issue Costs for Additional Tier 1 Capital Instruments 1 59 Less: Fair Value Adjustment 2 167 Total per Capital Disclosure Template - Tier 1 Capital 10,021 Row 36 Additional Tier 1 Capital included in Regulatory Capital Westpac Capital Notes 5 1,690 Westpac Capital Notes 6 1,423 SEC Registered Capital Securities 1,925 Westpac Capital Notes 7 1,723 Westpac Capital Notes 8 1,750 Westpac Capital Notes 9 1,510 Total Basel III complying instruments 10,021 Row 30 Total Basel III non complying instruments - Row 33 Total per Capital Disclosure Template - Additional Tier 1 Capital Instruments 10,021 Row 36 1 2 1 Una mo r tise d i ssu e cos ts r e l a t i ng to c api t a l in s tr um e nts ar e ne t t ed of f a ga i n s t e a ch i n st r u m e n t i n the B a l ance Shee t. F or r e g ul at o r y c api t al p ur p o se s , t h ese c a pi t a l i ns t r u m en t s are sho wn gr o s s o f un a m o r tis ed i s s ue cos t s. The u na mor t i sed i s s u e c o sts a r e d educte d f rom CET 1 a s par t of c a p i ta l ised ex p e ns es in R o w 26f in t h e capi t a l d i s c lo s u re t e mp l a t e . 2 For r e g u l atory cap it al pu r p o se s, A P R A re q uir e s t h es e in s trume n ts t o b e i n c l ud e d as if t he y w e r e u n h ed g e d .

P ill ar 3 repo rt A p p e n d ix I | R e gula to r y c api t al r ec o n c il i at i o n 96 | W e s tpac G r oup September 2022 Pi l l ar 3 report $m 30 September 2022 Capital Disclosure Template Reference Table e Tier 2 Capital Total Tier 2 Capital per Level 2 Regulatory Balance Sheet 21,459 Add: Capitalised Issue Costs for Tier 2 Capital Instruments 1 70 Less: Fair Value Adjustment 2 2,782 Less: Cumulative amortisation of Tier 2 Capital Instruments - Less: Loan capital not recognised for APRA purposes (520) Less: Basel III transitional adjustment - Row 56c Provisions 411 Row 50 / 76 Total per Capital Disclosure Template - Tier 2 24,202 Row 51 Tier 2 Capital included in Regulatory Capital USD100 million Westpac Subordinated Notes 154 JPY20,000 million Westpac Subordinated Notes 213 JPY10,200 million Westpac Subordinated Notes 109 JPY10,000 million Westpac Subordinated Notes 107 AUD175 million Westpac Subordinated Notes 175 USD1,500 million Westpac Subordinated Notes 2,304 AUD350 million Westpac Subordinated Notes 350 AUD185 million Westpac Subordinated Notes 185 AUD250 million Westpac Subordinated Notes 250 AUD130 million Westpac Subordinated Notes 130 AUD725 million Westpac Subordinated Notes II 725 USD1,000 million Westpac Subordinated Notes 1,532 USD1,250 million Westpac Subordinated Notes 1,920 AUD1,000 million Westpac Subordinated Notes 1,000 USD1,500 million Westpac Subordinated Notes 2,303 USD1,000 million Westpac Subordinated Notes 1,532 USD1,500 million Westpac Subordinated Notes 2,303 AUD1,250 million Westpac Subordinated Notes 1,250 EUR1,000 million Westpac Subordinated Notes 1,506 USD1,000 million Westpac Subordinated Notes 1,532 USD1,250 million Westpac Subordinated Notes 1,920 JPY26,000 million Westpac Subordinated Notes 276 USD1,000 million Westpac Subordinated Notes 1,532 SGD450 million Westpac Subordinated Notes 483 Total Basel III complying instruments 23,791 Row 46 Total Basel III non complying instruments Less: Basel III transitional adjustment Row 85 Total Basel III non complying instruments after transitional adjustment - Row 47 Provisions 411 Row 50 / 76 Total per Capital Disclosure Template - Tier 2 Capital Instruments 24,202 Row 51 $m 30 September 2022 Capital Disclosure Template Reference Table f Treasury Shares and RSP Treasury Shares Total treasury shares per Level 2 Regulatory Balance Sheet (712) Less: Treasury Shares not included for Level 2 Regulatory Capital - Total per Capital Disclosure Template - Treasury Shares (712) Row 26a $m 30 September 2022 Capital Disclosure Template Reference Table g Accumulated Other Comprehensive Income (and other reserves) Total reserves per Level 2 Regulatory Balance Sheet 2,196 Less: Share Based Payment Reserve not included within capital (49) Total per Capital Disclosure Template - Accumulated Other Comprehensive Income (and other reserves) 2,147 Row 3 1 2 1 Unamortised issu e costs rela ting t o capital instruments are netted o ff against each instrument in the Balance Shee t . For regulatory cap it al pur p oses, thes e capital instruments are shown gross of unamortised issue costs. The unamortised issue costs are d edu cted from CET1 a s part of ca pitali sed expenses in Row 2 6f in the cap ital disclosure template. 2 For r e gul ato r y cap i t a l pur p oses, A P R A r e q uire s t h ese inst r umen ts to be in cl ud e d a s i f the y w e r e un h ed ge d .

Pil l ar 3 re por t A p p e ndi x I | R e g u lator y c a p i tal re co nc i lia ti on W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 97 T h e c a p i ta l di sc l os u re tem p l ate b el o w rep rese nts t he p o st 1 J a n u a ry 2 0 1 8 B a s e l I I I t e m plate. $m 30 September 2022 Table Reference Common Equity Tier 1 capital: instruments and reserves 1 Directly issued qualifying ordinary shares (and equivalent for mutually-owned entities) capital 39,666 2 Retained earnings 28,763 3 Accumulated other comprehensive income (and other reserves) 2,147 Table g 4 Directly issued capital subject to phase out from CET1 (only applicable to mutually-owned companies) - 5 Ordinary share capital issued by subsidiaries and held by third parties (amount allowed in group CET1) 57 6 Common Equity Tier 1 capital before regulatory adjustments 70,633 Common Equity Tier 1 capital : regulatory adjustments 7 Prudential valuation adjustments - 8 Goodwill (net of related tax liability) (8,118) Table b 9 Other intangibles other than mortgage servicing rights (net of related tax liability) (2,263) Table b 10 Deferred tax assets that rely on future profitability excluding those arising from temporary differences (net of related tax liability) - 11 Cash-flow hedge reserve (813) 12 Shortfall of provisions to expected losses (144) 13 Securitisation gain on sale (as set out in paragraph 562 of Basel II framework) - 14 Gains and losses due to changes in own credit risk on fair valued liabilities (324) 15 Defined benefit superannuation fund net assets (219) 16 Investments in own shares (if not already netted off paid-in capital on reported balance sheet) - 17 Reciprocal cross-holdings in common equity - 18 Investments in the capital of banking, financial and insurance entities that are outside the scope of regulatory consolidation, net of eligible short positions, where the ADI does not own more than 10% of the issued share capital (amount above 10% threshold) - Table c 19 Significant investments in the ordinary shares of banking, financial and insurance entities that are outside the scope of regulatory consolidation, net of eligible short positions (amount above 10% threshold) - Table c 20 Mortgage service rights (amount above 10% threshold) - 21 Deferred tax assets arising from temporary differences (amount above 10% threshold, net of related tax liability) - Table a 22 Amount exceeding the 15% threshold - 23 of which: significant investments in the ordinary shares of financial entities - Table c 24 of which: mortgage servicing rights - 25 of which: deferred tax assets arising from temporary differences - Table a 26 National specific regulatory adjustments (sum of rows 26a, 26b, 26c, 26d, 26e, 26f, 26g, 26h, 26i and 26j) (4,809) 26a of which: treasury shares (712) Table f 26b of which: offset to dividends declared under a dividend reinvestment plan (DRP), to the extent that the dividends are used to purchase new ordinary shares issued by the ADI - 26c of which: deferred fee income 300 26d of which: equity investments in financial institutions not reported in rows 18, 19 and 23 (486) Table c 26e of which: deferred tax assets not reported in rows 10, 21 and 25 (1,746) Table a 26f of which: capitalised expenses (2,148) 26g of which: investments in commercial (non-financial) entities that are deducted under APRA prudential requirements (17) Table c 26h of which: covered bonds in excess of asset cover in pools - 26i of which: undercapitalisation of a non-consolidated subsidiary - 26j of which: other national specific regulatory adjustments not reported in rows 26a to 26i - 27 Regulatory adjustments applied to Common Equity Tier 1 due to insufficient Additional Tier 1 and Tier 2 to cover deductions - 28 Total regulatory adjustments to Common Equity Tier 1 (16,690) 29 Common Equity Tier 1 Capital (CET1) 53,943

P ill ar 3 repo rt A p p e n d ix I | R e gula to r y c api t al r ec o n c il i at i o n 98 | W e s tpac G r oup September 2022 Pi l l ar 3 report $m 30 September 2022 Table Reference Additional Tier 1 Capital: instruments 30 Directly issued qualifying Additional Tier 1 instruments 10,021 Table d 31 of which: classified as equity under applicable accounting standards - 32 of which: classified as liabilities under applicable accounting standards 10,021 Table d 33 Directly issued capital instruments subject to phase out from Additional Tier 1 - 34 Additional Tier 1 instruments (and CET1 instruments not included in row 5) issued by subsidiaries and held by third parties (amount allowed in group AT1) - 35 of which: instruments issued by subsidiaries subject to phase out - 36 Additional Tier 1 Capital before regulatory adjustments 10,021 Table d Additional Tier 1 Capital: regulatory adjustments 37 Investments in own Additional Tier 1 instruments (25) 38 Reciprocal cross-holdings in Additional Tier 1 instruments - 39 Investments in the capital of banking, financial and insurance entities that are outside the scope of regulatory consolidation, net of eligible short positions, where the ADI does not own more than 10% of the issued share capital (amount above 10% threshold) - 40 Significant investments in the capital of banking, financial and insurance entities that are outside the scope of regulatory consolidation (net of eligible short positions) - 41 National specific regulatory adjustments (sum of rows 41a, 41b and 41c) - 41a of which: holdings of capital instruments in group members by other group members on behalf of third parties - 41b of which: investments in the capital of financial institutions that are outside the scope of regulatory consolidations not reported in rows 39 and 40 - 41c of which: other national specific regulatory adjustments not reported in rows 41a and 41b - 42 Regulatory adjustments applied to Additional Tier 1 due to insufficient Tier 2 to cover deductions - 43 Total regulatory adjustments to Additional Tier 1 capital (25) 44 Additional Tier 1 capital (AT1) 9,996 Table d 45 Tier 1 Capital (T1=CET1+AT1) 63,939 Tier 2 Capital: instruments and provisions 46 Directly issued qualifying Tier 2 instruments 23,791 Table e 47 Directly issued capital instruments subject to phase out from Tier 2 - Table e 48 Tier 2 instruments (and CET1 and AT1 instruments not included in rows 5 or 34) issued by subsidiaries and held by third parties (amount allowed in group T2) - 49 of which: instruments issued by subsidiaries subject to phase out - 50 Provisions 411 Table e 51 Tier 2 Capital before regulatory adjustments 24,202 Table e Tier 2 Capital: regulatory adjustments 52 Investments in own Tier 2 instruments (100) 53 Reciprocal cross-holdings in Tier 2 instruments - 54 Investments in the Tier 2 capital of banking, financial and insurance entities that are outside the scope of regulatory consolidation, net of eligible short positions, where the ADI does not own more than 10% of the issued share capital (amount above 10% threshold) - 55 Significant investments in the Tier 2 capital of banking, financial and insurance entities that are outside the scope of regulatory consolidation, net of eligible short positions - 56 National specific regulatory adjustments (sum of rows 56a, 56b and 56c) (143) 56a of which: holdings of capital instruments in group members by other group members on behalf of third parties - 56b of which: investments in the capital of financial institutions that are outside the scope of regulatory consolidation not reported in rows 54 and 55 (143) 56c of which: other national specific regulatory adjustments not reported in rows 56a and 56b - 57 Total regulatory adjustments to Tier 2 capital (243) 58 Tier 2 capital (T2) 23,959 59 Total capital (TC=T1+T2) 87,898 60 Total risk-weighted assets based on APRA standards 477,620

Pil l ar 3 re por t A p p e ndi x I | R e g u lator y c a p i tal re co nc i lia ti on W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 99 $m 30 September 2022 Table Reference Capital ratios and buffers 61 Common Equity Tier 1 (as a percentage of risk-weighted assets) 11.3% 62 Tier 1 (as a percentage of risk-weighted assets) 13.4% 63 Total capital (as a percentage of risk-weighted assets) 18.4% 64 Buffer requirement (minimum CET1 requirement of 4.5% plus capital conservation buffer of 2.5% plus any countercyclical buffer requirements expressed as a percentage of risk-weighted assets) 1 8.0% 65 of which: capital conservation buffer requirement 1 3.5% 66 of which: ADI-specific countercyclical buffer requirements 0.0% 67 of which: G-SIB buffer requirement (not applicable) NA 68 Common Equity Tier 1 available to meet buffers (as a percentage of risk-weighted assets) 11.3% National minima (if different from Basel III) 69 National Common Equity Tier 1 minimum ratio (if different from Basel III minimum) 4.5% 70 National Tier 1 minimum ratio (if different from Basel III minimum) 6.0% 71 National total capital minimum ratio (if different from Basel III minimum) 8.0% Amount below thresholds for deductions (not risk-weighted) 72 Non-significant investments in the capital of other financial entities 157 Table c 73 Significant investments in the ordinary shares of financial entities 329 Table c 74 Mortgage servicing rights (net of related tax liability) - 75 Deferred tax assets arising from temporary differences (net of related tax liability) 1,746 Table a Applicable caps on the inclusion of provisions in Tier 2 76 Provisions eligible for inclusion in Tier 2 in respect of exposures subject to standardised approach (prior to application of cap) 88 Table e 77 Cap on inclusion of provisions in Tier 2 under standardised approach 172 78 Provisions eligible for inclusion in Tier 2 in respect of exposures subject to internal ratings-based approach (prior to application of cap) 323 Table e 79 Cap for inclusion of provisions in Tier 2 under internal ratings-based approach 2,047 Capital instruments subject to phase-out arrangements (only applicable between 1 Jan 2018 and 1 Jan 2022) 80 Current cap on CET1 instruments subject to phase out arrangements NA 81 Amount excluded from CET1 due to cap (excess over cap after redemptions and maturities) NA 82 Current cap on AT1 instruments subject to phase out arrangements NA 83 Amount excluded from AT1 instruments due to cap (excess over cap after redemptions and maturities) NA 84 Current cap on T2 instruments subject to phase out arrangements NA 85 Amount excluded from T2 due to cap (excess over cap after redemptions and maturities) NA Table e C ou n t e rcyclica l buf fer 1 2 T h e table be l ow det a il s W e stp ac’ s c o un t er cyc li c al bu f f e r re qui r e m ent . Sep-22 Exposure at default Risk Weighted Assets 2 Jurisdictional buffer ADI-specific buffer Hong Kong 440 204 1.00% 0.00056% Luxembourg 266 67 0.50% 0.00009% Norway 1 1 1.50% 0.00001% Other 1,213,335 367,218 0.00% 0.00000% Total 1,214,041 367,490 0.00070% Total Risk Weighted Assets 477,620 Countercyclical capital buffer 3 1 In cl ude s 1% D o m e st i c Sy s t emi c a ll y I m p or t ant B a n k (D - SIB) r eq ui rem e n t . 2 R e p r e sen t s t o t a l pr i v at e sect o r ( e x c l ud e s B an k s and Sov er e ig n s ) c r e di t a n d s pec i f i c m ark e t ris k w ei ght e d ass e t s .

P i l lar 3 rep o rt Ap pen d ix I I | E n t i t ies i ncl ude d i n r e g u lat o ry c o n s o l i dat io n 100 | W e s tpac G r oup September 2022 Pi l l ar 3 report Th is a p pe n di x list s all s u b si di a r i es contr ol le d b y W est pa c ac co r d i ng t o th e ir level o f r e gu l ato r y c on s oli d a t io n. L ev e l 1 E n t i t i e s Th e f ol lowi ng contro l le d en t i t i e s have be e n ap proved b y APRA f or incl u s i o n in the Westp ac A DI’s ‘E x te nde d Licen sed E n tity’ (E L E) f or t h e p ur pose s of me a s ur in g c ap ital a de qu ac y a t Le ve l 1 : W e s tpac Banking Corpora t i o n St.George Se c ur it y Ho ldi ngs P ty L im i t ed 1 9 25 ( C ommercial ) P ty Limited V a lue Nomin ees P ty L im i ted 1925 ( Indust r i al) Pty Limite d W e stpa c Adminis tration 2 Pty Limited Bill Accep t ance Co rpo r at ion P t y L im ited W est pac Admi n i s tra ti on Pt y L im i ted Capi tal F inanc e Au stra lia Li mit ed Wes tpac De b t S e c ur i ti e s P ty L imit ed C B A P ty L imit ed Westpa c D ir ec t E q u i t y Inves t me n ts Pty Limited Cha lle n g e Li mited Westpac Financia l Hold ings Pty Limited Mo rtga ge Man a ge men t Pt y Limit ed W es tpa c In ves tme nt Vehic le P ty L im i ted P art ners hip Pa cific Pty Li mi t ed West p ac L e as i ng N om in ees - Vic. - Pty Li mited P artnersh ip Paci fic Sec u rities Pty Lim i te d Westpac P roper ti es Pty Limited Pa sh l ey In ve stments P ty Limi ted We stpac Se curi tisati o n H o ldings Pt y L im ited Sallmoor Pty L i mi te d Westpac S t ructured Products Limi ted S ixt y M a rti n Pl a ce (Ho l dings) Pty Limite d W est p a c TPS Tr us t S t.Georg e Business Fina n ce Pt y Limite d Wes tp ac Unit Tr u st St. George Fin a nce Hol ding s Limit ed Level 2 En t i tie s T h e f o ll o w in g c o n tr olled e n ti ti es are inc lu d ed in the L eve l 2 c o nso lida tion ( a lo n g w i t h t h e E L E e ntiti e s ) for th e pu r p os e s o f m e a su r i ng ca p ita l ad e q u a cy: 1 925 Adv a n c e s Pty L im it ed M on ey B rillia nt Pt y Ltd Alti tude Adm inistratio n Pt y L imi ted Ne t N omin e e s L im ited Altitu de R ewa rds Pty Limited Numbe r 1 20 Lim i t ed A otearoa Financi al Serv ices Li m ite d Qv a le n t P ty Limi ted Be ll is ton Pt y L imite d RA MS Financia l G ro up P ty Li m i t e d BT (Q u e e nslan d) P ty Limit ed RMS War e ho us e Tru s t 20 07 - 1 BT Financial Group Ho ldings Pty Ltd S eries 2008 - 1M WST Trust B T Financi al Group (NZ ) Limit e d Serie s 2 013 - 1 W ST Tru s t B T Fi n an c i al Group Pty Li mit ed Se ri e s 2013 - 2 WST Tr ust BT S ecuri ties L im i t ed Se ries 201 4 - 1 W ST T rust Capital Finance (NZ) Pty Li mited Series 2014 - 2 WST Tru st Cr usade ABS S eries 2017 - 1P Trus t Se ries 201 5 - 1 W ST Trust C rus ade A BS S er ie s 201 8 - 1 P T rust S e rie s 20 1 9 - 1 WST Trus t Crus ad e T rus t No . 2P of 2008 Series 202 0 - 1 WS T Tr ust D an aby Pty Li m ite d Se ri es 2 021 - 1 WST Tr us t Ge ner a l Credits P ty Limited Series 2022 - 1P WS T Tru st Ha s tings Man age men t P ty Li mi t ed St.G e orge Fin a nce Limited

P i lla r 3 r e p or t App end i x I I | E ntit ies in cl u d e d i n r egulat or y c o n s o li da t i o n W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 101 Le v e l 2 Ent i t i e s ( C ont i n u e d ) S t.George M oto r F inanc e L imi t e d We s tpac Group Inve s t ment - NZ - Lim ite d The Home Mo r tg ag e Co mpany Limited We s tpac Holding s - N Z - L i mite d W2 Inves tm e n t s Pt y L imi ted W e stpa c Inves tm ent C apital Co rpo ration We stp ac (N Z ) Investment s Li mited We stpa c Inve s t men t Ve h ic l e N o .2 Pt y Limited W es t p ac Ad min is t rat io n 3 Pty L i m ited Westpac I nv es tment Vehic l e No .3 Pty Lim i ted We stpac A dm in istr ation 4 Pty Limite d We st pac N ew Ze a land G roup Limite d W es tpac Al titude Rewards Tr us t We st pac N ew Ze a land Limite d Westpa c Am eri c a s I nc . W e stp ac N otice Saver P IE F und W e stpac A sia n Lendin g Pty L i mited W es t pa c NZ Covered B o n d H old i n gs Limite d Westpac Bank - PNG - L imi ted Westpac N Z Cover e d Bo nd Lim it e d Westpac Ca pit al M arkets Ho lding Corp. Westp a c NZ Opera tions Li mi t e d W e stpac C a pi t al Ma rk et s LL C W es tpa c N Z Securitisat i on H oldi ngs Lim i t ed W es tpac Capita l - NZ - Limited Westpa c N Z S e c ur iti s a tio n Limi t ed Westp a c C ash P IE Fu n d Wes tpac NZ Sec uritisation No.2 Limited Wes t pac Cov ered Bond Tru st W es t pac O verseas Ho l dings P t y L imite d West p ac Di g i t a l P artn e rsh ips P ty Lt d Wes tpac Overseas H oldings No. 2 Pty Limited W e s tpac Equity Hol di ng s Pt y Limite d W es t pac Securit ies Limite d W estpac Equ ity Inv estme n ts N Z Li m i t ed Wes tpa c Se curities N Z Limited W est pac E u rope GmbH Westpac Se c ur itisa tion Ma n agem e nt Pt y Li m ited We stp ac E u r ope Lim it e d Wes tpa c S inga p ore Lim ited W estp a c Fina nce (HK) Lim it ed Westpac Sy n d ic at ions Managem ent Pty Li m ite d West pac Fina nc ial Se rvice s Grou p Lim i ted We stpa c Term PIE Fund W es tpa c F i nanc ial Servic e s Gro u p - NZ - Li mited W e stpac U S A I nc. We st pac Global C api tal Mar k ets Pty Limit ed

P i l lar 3 rep o rt Ap pen d ix I I | E n t i t ies i ncl ude d i n r e g u lat o ry c o n s o l i dat io n 102 | W e s tpac G r oup September 2022 Pi l l ar 3 report L eve l 3 E n t i t i e s T h e fo ll o w ing co ntr o l le d en ti tie s ar e e x c l u d e d from the Le vel 2 c on s o li dat i o n b ut form pa r t o f t he c o ng lom e r ate g ro u p a t L e ve l 3: Adv ance Asset M a na geme nt Limit e d Rei nv e n t u re Fu nd, I.L.P. Asg a rd C ap ital Manage ment Lim ite d Re i nv enture F u nd II I.L.P As gard W e alt h Soluti ons L imit ed Reinve ntu re Fu nd II I I . L . P BT Fina nci al Gr oup Re source s Pty Ltd R einvent ure Specia l Pur pose Inv es t m en t Un it Tr us t BT Funds M a n ag eme n t (NZ ) L i m i ted Secu rit o r F ina n c ial G ro up Pty Lim i te d BT Fun d s Manag eme nt L i mit ed Sydne y Capita l C orporation Inc. BT Fund s M anagemen t N o.2 L imite d W ar a tah R ec eivab les Co rpora t ion P ty Li mi ted BT Portfolio Serv ices Lim it e d W ar at ah Se cu rit ie s Austr a l i a Lim i ted G I S P r ivate N o min e es Pty L imi te d We s t pac Fi n an cial Serv i ces Lim ite d H a sti ngs Funds Mana ge me n t Pty Limited Westpac N e w Zealan d Staff Su pe ra nn uat io n S ch e me Trus t e e Li mited Hy de Potts Ins u rance S ervic es P te . Limit e d Wes tpac Nominee s - N Z - L imited M a gnit u de Gr ou p P t y L imi t ed Westp ac RE Li mite d Pendal S h ort Term I n come Fund W es t p ac Sec ur i ties Admin is t ra t ion Lim ited Red Bird V ent ures Lim i te d Westpac Superan n ua t i on N omi ne e s - N Z - L imite d

Pil l ar 3 r epo r t A p p end i x I I I | L e vel 3 ent it i es’ a s s e t s a nd li abi l iti e s W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 103 The foll o w i ng leg al e n t i t i e s a r e excluded f rom the r e gula t o r y scope o f co ns o l i d ation. T he t o tal a s set s a n d li abil iti es sh ou ld n o t b e a gg r eg a t e d be c a us e s ome o f th e e n ti t ies ar e h o l d ing co m p a ni e s fo r other e nt i ties in the t a bl e sho w n b e lo w . 30 September 2022 $m Total Assets a) Securitisation Sydney Capital Corporation Inc. 0 0 Waratah Receivables Corporation Pty Limited 0 0 Waratah Securities Australia Limited 0 0 b) Insurance, funds management and other Advance Asset Management Limited 51 27 Asgard Capital Management Limited 32 12 Asgard Wealth Solutions Limited 26 3 BT Financial Group Resources Pty Ltd - - BT Funds Management (NZ) Limited 54 9 BT Funds Management Limited 443 320 BT Funds Management No.2 Limited 10 2 BT Portfolio Services Limited 139 62 GIS Private Nominees Pty Limited 13 3 Hastings Funds Management Pty Limited 0 - Hyde Potts Insurance Services Pte. Limited 19 1 Magnitude Group Pty Limited 3 0 Pendal Short Term Income Fund 256 256 Red Bird Ventures Limited 15 3 Reinventure Fund II I.L.P 79 0 Reinventure Fund III I.L.P 70 0 Reinventure Fund, I.L.P. 47 6 Reinventure Special Purpose Investment Unit Trust 45 0 Securitor Financial Group Pty Limited 3 0 Westpac Financial Services Limited 38 22 Westpac New Zealand Staff Superannuation Scheme Trustee Limited - - Westpac Nominees-NZ-Limited 4 0 Westpac RE Limited 8 1 Westpac Securities Administration Limited 7 0 Westpac Superannuation Nominees-NZ-Limited 0 0 Liabilities (excluding equity)

Pil lar 3 re p o r t A pp e ndix I V | R e g u l at or y e x p ecte d l os s 104 | W e s tpac G r oup September 2022 Pi l l ar 3 report Ca p i ta l d ed u ct ion for regu la t o r y e x p e ct e d l oss 2 F o r capi tal a d e qu ac y purpos e s A PR A r e q u ires th e am ou nt of r egu la to ry e xp e c te d cred it lo s s e s in e x c e s s o f el i g ib l e pro vi s ion s t o b e ded uct e d f r om c ap i t a l . Th e fo llo wing ta b le show s h ow th e dedu c tio n i s c a l culat e d . 30 September 31 March 30 September $m 2022 2022 2021 Provisions associated with eligible portfolios Total provisions for impairment charges 4,635 4,682 5,007 plus provisions associated with partial write-offs 377 304 40 less ineligible provisions 1 (143) (101) (104) Total eligible provisions 4,869 4,885 4,943 Regulatory expected downturn loss 4,690 4,947 5,168 Excess/(shortfall) in eligible provisions compared to regulatory expected downturn loss 179 (62) (225) Common equity Tier 1 capital deduction for regulatory expected downturn loss in excess of eligible provisions 2 (144) (164) (225) 1 P r ovis i o n s associa t ed w ith port fol io s s u b j e ct to t he B a se l s ta nd a rdised a ppr o ach t o c re d i t r i s k a r e n o t e l ig i ble . 2 R e g ul atory ex pe cte d l os s i s c a lcu l ate d f o r p o r tf o lios s ub j e c t to t h e B a se l a dvan ce d I R B a p p r oa c h t o c red i t ri s k. T he co m p a ri son betwee n r e g u l a tory e x p ected lo s s an d e ligib l e pr ov i s i o n s i s pe rfo r m ed s e pa ra t ely fo r def a ulted a n d n o n - d e f aul t e d e x p o s ur e s.

Pil l ar 3 r epo r t A p p end i x V | A P S 3 30 qu a nti ta t ive r e q u i r em en ts W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 105 Th e f ol lowin g ta b le c ro s s - r e ference s t h e quanti t a ti ve d isclo s u r e r e q ui r e m e n t s gi ve n by Att achm e n t s A, C, D an d E of APS3 3 0 t o th e q u a n tit a t ive d is c l o s ure s mad e i n th i s re p or t. Th e co nt i n u ou s reporting re qu i r ements f or c a pi t a l i n s tru m en t s u n de r A t t ac h m ent B a re sa tisfi e d s e pa r a te l y a n d can b e f o u nd on t h e r eg u l atory d i s c l o s ur e s s e c tion o n the We stpa c w e b si te 1 . In a d d i t i on to th i s re po r t, the r eg u lat o r y d is clo su r es sect i o n of t he W e st p a c we b si te contains th e r e p orting requi r e me nts fo r: ⚫ C ap ita l in s tr u m en t s under At t ac hment B o f A PS 33 0 ; a n d ⚫ The i de n ti ficati o n of p ot entia l G l o ba l - S y s t e m i call y I m portan t B a n k s ( G - SIB) und e r A tt achm en t H o f A P S3 3 0 ( d i s cl os e d a n n u all y ) . AP S 330 r efere n c e We s t p ac d i sc lo su re Page Ge ner a l Requir ement s P a ra gr a p h 12 ( a ) ( c) t o ( d) Balan ce Sh eet R e con cil ia ti o n 94 Parag ra p h 13 Le v e l 3 e nt ities ’ a s s et s a n d l i a bili ti e s 103 P ara g r a p h 4 9 Su mma r y l ev erag e ra t io 2 2 A t t a c hm e nt A : T ab le 1 : Ca p ital di sc los u r e te m p l at e Capital dis cl o s ure temp late 9 5 Att a ch m en t C : Ta b le 3: Ca pi t al adeq u acy (a ) t o (e ) Capital re q u iremen t s 2 0 ( f) We s t p a c ’ s c a pi t a l adeq ua c y rati o s 19 C ap ital ade q u a c y ra tio s o f m aj o r s u b sid i a ry b a nk s 19 Ta bl e 4: Cred i t ri sk ( a ) Ex p o s ur e at Default b y m a jor type 3 4 ( b ) I m p a i re d a n d p a s t du e lo a ns by po rt f ol i o 4 1 ( c ) G e n e r al r eserve for c redit l o s se s 3 1 Ta b l e 5: S ec u r i t i s ation e x posure s (a) B a nk in g boo k s u m m ar y o f s e cu r i ti s a ti o n act i v it y by a s s e t t yp e 6 7 ( b) Ba n k i ng b o o k s um m a r y of on and off - ba l an c e sheet sec u r i t is at i o n b y ex p o s u r e t ype 6 8 (c) Tra d i n g book s um m ary o f on a nd off - b al a n ce she e t s e cur i t isati o n b y e x p os u re t ype 7 1 Atta c h m e n t D: T a b l e 6 : Cap i ta l a de q ua cy ( b) t o (f ) C a p i t al r e qu i r em en ts 2 0 (g ) Wes t p ac ’s c a pi ta l adequacy r at i o s 19 C api t a l a de qu a cy r at i os o f maj or s u bsidiary b a nk s 19 Tab l e 7 : C r ed i t risk - ge n e ral di s c l o s ure s (b) E x po s u r e a t D e f a ult by m ajor t ype 3 4 (c ) Exp osu r e a t De fau l t b y ge o gr ap h y 39 (d ) E x p o s ure a t D e fa ul t b y in d us t r y c l a ss if i c a ti on 3 6 (e) Ex po s u r e at De faul t b y re si d ual co n tr a c t u al matu r ity 4 0 ( f ) Impai r ed a nd p a s t d u e loans by i n dus try c l a s sif i catio n 4 2 ( g ) I m p a i red an d past d ue l o a n s by geog rap h y 4 3 (h) Mo v em en t i n p r ov i s io ns fo r i m pair m en t ch ar ge s 3 2 ( h ) Lo a n i mp a i r me nt provi sio ns 3 1 (i) Exp osur e a t De fa u lt b y m ea s u r e men t me t hod 3 5 ( j ) Gener a l r e se r v e f or c redit l oss e s 3 1 T a b l e 8: C redit r is k - d i sc l o s u res fo r portf o lios s u b j ec t to the s t a nd ar dis e d a pp ro a ch a n d s u p er vi s or y r i sk - w e ig h t s in t h e IR B a p p roa c h es ( f o r me rl y T able 5) ( b) P ortfolio s su b j e c t t o t he s ta n da r d i s ed appr o ach 4 4 P ro perty fin a nc e 4 5 P roject fin a n ce 4 6 1 http:/ / ww w. w e s t p a c.c o m.a u/ ab o ut - wes t p ac/in vesto r - c en tr e / fi na n ci al - in f orma t i on / re gu l ato r y - dis closu res/

P i l l a r 3 r e po rt A p pen di x V | A P S 330 qu ant i tativ e r e qui r em en t s 106 | W e s tpac G r oup September 2022 Pi l l ar 3 report APS 3 30 re f e re n c e W es t p a c dis cl o s ure P a ge T a b l e 9 : Cre dit r i s k - dis c lo s ur es fo r p o rt f o li os su b j e c t to IR B ap pr oa c hes ( d) C orp o r at e p o r t f ol i o by extern al c redit ra ting 4 7 Bu s ine s s l en d i n g po rtfo l io by ex te r na l cre d it r at i n g 4 8 Sovere ign p ort fol i o b y ex t ernal c re d i t r a ti n g 4 9 B a n k por t foli o b y ex terna l c r e d i t ra tin g 50 R es id e n ti a l m or t ga g e s port f ol i o b y PD band 5 1 A u s tr al i a n c re dit cards po rt f o lio b y P D ba n d 5 2 O the r r e ta i l p ort foli o by PD b an d 5 3 S mal l b u s i n e ss p ortfoli o b y PD ban d 5 4 ( e ) Act u a l l o s s e s 5 5 (f) Co m p ariso n of r e g u l at ory e xpe c t e d a nd ac t ua l l os s r at e s 5 6 T ab l e 1 0 : Cred i t r i sk m it i ga ti o n d i scl o s ur es ( b ) to (c) Total e xp o s ure cove red b y c o ll at e ral , c r ed i t d eri vati v es and g ua r an tees 59 T ab l e 1 1 : G e neral d isc l o sur e f o r e x pos u res r e l at e d t o co u n t e rpar ty c redit risk ( b ) Co unter par t y c re di t r i sk su mm a ry 6 1 ( c ) Cr e di t d e riva t iv e tr an s a c ti on s t h a t c r e at e e x p os ur es to c ounte rp a r ty credi t ri s k 6 1 Ta b le 1 2: Se c u r i tis atio n exposur es B ankin g Bo o k ( g ) p a rt i an d ( h ) to (i ) S u m mar y of a s s et s s e c u ri t i s e d by W e s tpac 6 6 ( g ) p ar t ii Sum m a r y o f tot a l W es tp a c sp o n so r e d th i rd p a r ty a s se t s s ec u r i tise d 6 6 ( j ) Su m m a ry o f securitisa ti o n activit y by a s s e t ty p e 6 7 (k ) S u mma ry o f on and of f - b ala nc e sh e et s e c u ri t i sation by e x pos ure t y p e 6 8 (l) p ar t i S e cu r i t i sati on e xposu r e by r i s k w eight ba n d 69 (l) pa r t ii Se cu r i ti s a ti on ex p o s u re s d e d u c te d fr o m ca p it a l 69 ( m) S e cu ri tisation sub je c t to earl y am o r t i s at io n tr e at m en t 69 (n) p art i Re se c ur itisa t ion ex p o s u r e s u bject t o c r e dit ri s k m i tig a tion 6 9 ( n ) p ar t i i Res ec u r itisa t ion e x p o s ur e to gua r a n t or s 69 T ra di n g Bo o k (o ) p ar t i and ( p) S um ma ry of a s se t s se c u ri ti s e d b y Westpac 7 0 ( o ) part ii Sum m a r y of t o tal We s tp a c s pon sore d t hird p ar t y asset s se c ur i t is e d 7 0 (q) Su m m ary of s e c u rit i satio n ac t i v i t y b y a s set ty p e 7 0 (r) A g g r e ga te am oun t o f e xp osu r es se cu r it is e d b y We s t p ac a n d sub j ec t to A PS 1 16 C a p i t a l A d e qu ac y : Ma rk et Risk 7 0 ( s ) Summary of o n a n d of f - ba l an c e s h ee t s e cur i tisation b y e xposu r e t y pe 7 1 ( t ) part i Se c u rit isa t i o n exp o sure r e ta i n e d o r p u r c hase s u b jec t t o sp e c i f i c risk 7 1 ( t ) pa rt i i S ec ur i ti s a t i o n e xp os u re s u b ject to A PS 12 0 f or S p ec i f ic r i sk b y r is k weight band 7 1 (u) par t i C a p i t al r e qui r em e nt s fo r s ecur i tisation e x po sure s ubj e ct t o i nt e r nal mod els a ppr oac h ( I M A) b y ris k cl a s s i f i ca t i o n 7 1 ( u ) p ar t ii C a p i t al requ ire m e n t s fo r s e cu r i t is a ti o n r e g u l at or y c a p i t al a p pr o a ch e s b y ris k w e i ght b an d 7 1 (u ) part iii S ec u r itisatio n ex p o s u r es d e duc t ed fr o m c api tal 7 2 (v) Se c ur itisa t ion su b j ec t t o early a mor t i sat ion t r e a tme n t 7 2 (w ) p a r t i A g g rega te r ese cu r itis a t i o n e xposu res r e t ai n or p u r c ha se d s ub j e c t t o cr e di t r i sk m i t i g a ti on 7 2 ( w ) p a rt i i R es e c u ri ti sation expos ur e to guara ntor s c r e di t w o rt h in e ss 7 2

Pil l ar 3 r epo r t A p p end i x V | A P S 3 30 qu a nti ta t ive r e q u i r em en ts W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 107 A PS33 0 referen ce W estpa c di s cl o s ur e P a g e Tabl e 1 3 : Ma rke t r i s k - discl o s ur e s f o r A D I s usin g t h e s ta n dard m e t h od (b) Mar k e t Ri sk re g u l a to ry ca pi t a l a n d ri s k w e i g ht ed as s e ts 7 4 Tabl e 1 4 : Ma r k et r i s k - d isclosures f or A DIs usin g th e I M A f or tra d in g p o r tf oli os ( d ) VaR an d S tr essed VaR by r is k t y p e 7 5 T abl e 16: Eq u i t i e s - discl o s ur e s f o r b a n k i ng b oo k pos it i ons ( b ) t o (c) B ook v a l u e o f l i st e d eq u it y e x p o s u re s b y i n d u stry cl a s si fi ca t ion / B o o k v a l ue o f u nl is ted equity e xp o s ures by indu s t r y cl as s ifi c at i on 8 2 ( d) t o (e) Gai ns / lo sses 8 2 (f ) Ca p it a l requir eme n t 1 N / A Ta bl e 1 7 : Inte r est r a t e r i sk i n th e b a nk ing boo k ( b ) C hange in e c o n om ic v al u e of s u d d e n u p w a r d an d d ow n w ard mo ve me nt i n inte r e s t ra t e s 7 8 ( b) C apital requ ire m e nt 7 8 A t ta ch me nt E T a b l e 18: Lev e rage rat io di sclos u re tem pl at e L everage ra t io di sc l os ur e 2 2 Tabl e 19 : S u m ma r y c o mpar is o n o f a c cou n t i n g a sse ts v s l e v e ra ge r at i o ex po s u r e me a s u r e S u mm ar y comp ar is on of a ccoun t i n g as s e t s v s le ve ra ge ratio ex pos u r e meas u re 2 3 A tt ac hm en t F Ta ble 2 0: Liqui di t y Cover a ge Rat io d is c l osure te mp l at e Li q ui di t y C o verag e Ra t i o d is c lo s u re 8 4 T ab le 2 1: N e t S t a ble Fu ndi n g R at io t em p l ate N e t S ta b l e F und i ng R a t io d is cl os ure 8 5 A t ta c h m en t G 2 Table 21 : R emu n e ration discl o s ur e re qu ir em en ts ( g ) Gov erna n ce s truc tu r e 90 ( h) Qua nt it at i v e Disclo su r es 93 (i ) D ef e r red r e mun e r a t i on 93 (j) t o (k ) T o tal v a l u e of rem une r a t i on a wa rd s fo r t h e c u rr e n t f ina n ci al y ear fo r se nio r manag e r s a nd m a te r i a l ri sk takers 93 1 E q ui ty e xp o su r e s a re n ot r i s k we ighte d a t L ev e l 2 . 2 R e m u ne r ati o n d i sc los u r e i s an a n nu a l re po rti n g re q u i rem e nt un der A P S3 3 0 .

P i lla r 3 r epo r t G l ossa r y 108 | W e s tpac G r oup September 2022 Pi l l ar 3 report Term Des c r ip ti on Ac tu al l o s s es Re pres e nt direc t w ri te - of f s a nd wr it e - o f fs from pr o vi sio ns af te r a d j ustin g fo r r e c ov e ri e s . A dd i t io nal Tie r 1 c a p ital Com p r i s es h ig h q u ali ty c o m p on e n t s of c ap it a l tha t pr ov ide a perm a n e n t a n d un r e s tr ic te d commit men t o f funds t hat a r e f re el y av ai la bl e t o abs orb l osses bu t r an k beh i nd cla im s of d epositor s a nd ot he r m or e s e n ior c r edi t o r s . T h ey a lso pr o v id e f o r f u l l y d i screti ona r y c ap it al d i s tri bu t i o n s . A l t e rna t e Li q u id A ss et s (AL A ) Asse t s t h at q u al i f y f or i nclusion in th e numerat or of t he L CR i n ju ri sd i c t io ns wher e there i s i ns uffic i en t su pp ly o f HQLA. A dv a nc ed me a su re m en t appro a ch ( A M A ) T h e c a pita l r e qu ire m ent u s i n g the AM A i s b a se d on a b ank ’s i n t e rn a l o p era t io na l risk s ys te ms, w hich m u s t bo t h me a s u re a nd manage ope rat i o nal ris k. A s s et s in te nd ed t o b e se cur itis e d Repres en t s secur i ti s ati on a ct i v ity from t h e end o f t he re p o rting per i o d t o t he d iscl os u r e dat e of t h i s r eport. A u s t r al ia n a c c o unt in g s t a nd a r d s (AA S ) A s e t of A us tr ali a n repo r t i n g s t a n da r d s a nd i nterpret ati ons i ssued b y the A us tr al ia n Ac co un t i n g Sta ndar d s Board . A us trali a n a nd Ne w Ze a l and s tan da r d i nd us t ri al c l a s sific a tio n ( A N ZS I C) A cod e u s ed by the A u s t r a lian B ure a u o f St at is t i cs an d S t a ti s t i c s Ne w Z ea l a nd f or c la ssi f y ing b u s i n e ss e s . A u t ho ri se d deposi t - t aki n g instit ution ( AD I) A DI s ar e co r p o ra tio ns t h at are a ut h or ised u nd e r t he B an k i ng Act 1 95 9 t o c ar r y on ba n k ing b u sin e s s i n A us t r alia . B an kin g bo o k T h e bankin g b o o k in cl ud es a ll se c u r i t ie s t h a t a r e no t acti ve ly t rad e d by W e s t p a c. Com m it te d Li qu idity Fac ilit y (CLF) Facil i t y es ta b l is h ed wi t h th e RBA t o cover t he s h ortf a ll i n A us tr al i a n dollars b et wee n t he A D I’ s ho ldi n g of H Q L A a nd net c as h ou tfl ow s. Th e C L F is a n A L A f or t he G r o up’ s L C R c al c u l a t io n . Co m m on e qu it y T i e r 1 ( CE T1 ) c a p i tal T h e hi gh es t form of cap i tal. Th e key c o m po ne n t s o f c om m o n e quity a re share s , re t aine d ea r nin gs a nd u n distribut e d cur re n t ye a r e a rn ing s . C r e d i t v aluation a d jus tme nt ( C VA ) r i sk R ef er t o m ark - to - m a r ket re l a t e d c r e d i t r isk . D ef a u lt A c u s t o m er de fa u l t i s dee m ed t o ha ve occur red whe n Westpa c con s i d e rs t h a t e ith er o r b oth of the foll o wi ng even t s h a ve ta ke n p l a ce: ⚫ the c u st ome r i s un l ik e l y to p a y i t s c re d it oblig at i ons to i ts fi n an c iers i n f u ll , wi t ho ut r eco urs e b y a n y o f t h em to a ct i o ns s uc h a s rea li si n g s e c urit y ( wh er e he ld); a nd ⚫ the c ustomer is p a s t du e 9 0 o r mo re c a le ndar d a ys on an y m at e rial cre d it ob li ga t i o n to its f in anc ie r s. O v er d r af ts w i ll b e c on s idered p as t du e o nc e t he cu s tome r has br e ach e d an a dvi sed l i m it , o r be e n a dv i s ed o f a li m i t s mal le r t h a n t he c u rr en t ou ts tandin gs.

Pil l ar 3 re p o rt Gl oss a r y W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 109 Term D escri p t i o n D e fa u lte d n o t i mpaire d Include s f ac i liti e s w h ere : ⚫ co nt r a c tual paym e nt s o f i nt er e st a nd /or p rin c i p a l a re 90 or m o re cal en da r d a ys over du e, i nc l udi n g ov e r dra fts o r ot h e r r ev o lvi ng f ac i l it ie s t h a t rem ai n c o n t i n uous l y ou ts id e approv ed limi t s by ma teria l a m ou nt s fo r 90 o r m or e cale n dar days (i nc l udin g ac c oun ts f or c u stomers w h o hav e b ee n g ra n t ed ha r d shi p a s si s tance) ; or ⚫ an or de r h as be e n so ug ht f or the cu st o m er’ s b a n k r up t c y o r s imi la r le g a l ac ti o n h a s b ee n i n s t i t uted , w hi ch m ay avoid or del a y repay ment o f i ts c r e di t ob li g a t io ns; an d ⚫ the est i ma te d net rea l isa bl e va l u e of asset s /s ecu ri t y to wh i c h Wes t p ac h a s re c ourse is s u ffi cie nt t o c o ve r rep ay men t o f al l p ri n c ipa l a n d i nt e r e s t , o r w he r e t h e re a re o t h e rwi se r e a s o n a ble g ro un ds t o expect pa ymen t in ful l and i n t er es t is bei ng t a ke n to p r ofit on a n ac c rual bas i s. Th es e f a c ilities, w hi le in de fa u lt , ar e n o t tr e a t e d a s impair ed for ac co un t in g p u rpos es . D ou b le d ef au l t ru les D o u bl e d e f au l t a pp l i es t o ex po s u r e s wh er e a p a r t icul a r ob li go r’ s expo sur e ha s been h edged b y th e p u rc h ase o f c re dit pr o tection f ro m a cou n ter p art y an d l o s s will on l y occ ur if b o th o bl igo r and c o u nt e rparty d ef a ult . I n th i s i ns t ance , cap i ta l ca n b e r e duc ed. E x po s u r e at def au l t ( E A D) E AD i s c alc ul at e d a t faci l it y le ve l and in clu des o utstand ings a s w el l a s t h e p ro p o r ti on of c ommitted un dr a wn t h at i s e xp ec te d t o be draw n i n t he ev en t o f a fut u r e d e f a u lt . Extend ed lic ens ed e n ti t y ( ELE) A n e x te n ded li ce n s ed ent i t y (E L E ) c om p ris es a n A D I an d a n y s ubs id ia r i e s o f th e A DI t ha t have b een app r oved by APRA a s be in g pa r t o f a s in gle ‘s t and - alon e ’ en t ity. Ex t ern al c re d i t a ssessme n t i ns ti t ut io n ( E CA I) E C AI i s a n e xternal in s tit uti on r e co g ni s ed b y APR A ( d ire c tl y o r in dir e c t l y) t o p ro v ide c r e di t as se ss m e n t in de te r m i n i n g th e r is k - we ig hts on fi nanc i al inst ituti o n s ’ r at e d c r edi t e x p os ures ( i ncluding se cu r itis a tio n ex po su re s ) . Geograp h y Geo gr a ph ic se g m en tat i o n o f e x po s ures is ba s ed on th e l oc a ti o n of t he o ff i ce i n wh i c h t hes e i t em s w e r e b ook ed . H i g h - q u al i t y l iqu id a s s e t s (HQL A ) As se ts w hich m eet APR A ’s crit eria f o r in cl u s io n as H Q L A i n the n umerator of t h e LC R . I mpa ir ed e x p o sures Inc l ud es ex p os ur e s t h at ha v e de t e r i or a ted to t he poi nt wh er e f u ll coll ec tio n o f in t er es t and pr i n c i pa l i s in dou bt , ba s e d on a n a s s ess me nt o f t h e cu s to me r’ s ou tlook, ca shfl o w, and the n e t r ea li s a ti o n o f v a l ue of as s ets to w h ic h r ecou r se i s h el d: ⚫ f a c i lities 90 da ys or mo re pa s t d ue, a nd f u l l r e covery i s i n d oub t : e x po s ur e s wh er e c o nt r act u al p a y men ts a r e 90 o r m or e da ys i n a r re ar s a n d t he ne t r e a l i s able va lu e of a ssets to whic h recour se is h e l d ma y no t be s u f f ic ient t o allow f u ll c o llec t ion of in te re s t and princ i pa l, in c lu di n g o v er dra f t s o r o t he r revolvi ng fac ili ti es th a t r emai n con t in u ous l y ou t s ide ap p r o v ed l i m i ts by ma t e ri a l a mo un t s f o r 9 0 or m o r e cale n da r da ys ; ⚫ non - ac cru al f a cilitie s: ex p o s u re s w i th ind iv i d u al ly ass e ssed imp a ir me n t pr o vis i ons h el d a g a inst them , e xcl ud i ng r e st r u ct ure d loa n s ; ⚫ re s tructure d f aci lit ie s: ex p os u res wh ere th e or i gi na l con tra c t u a l t e r m s h a ve be e n f o r ma ll y m o d i f ied t o p r o v i d e fo r c on ce ss io ns of int eres t or pri ncipa l f o r re a s on s re la t e d t o the f inancial di ff i cult i es o f t he c us t o m er; ⚫ other as set s a cq ui r ed t hr oug h sec u r i t y e nforceme nt (in clu de s o th e r r eal es tat e o w ned ) : in c l ude s t h e v al u e o f a n y o th e r a s s et s ac q u i r e d a s fu l l o r part i al s et tl em ent of ou tsta n ding ob ligat i o n s t hr o u gh the e n f o rc ement o f securi t y ar r ange m ent s ; a nd ⚫ a ny o t her facil i ti es wh e re t h e f u ll co l l ect i o n of interest a n d p rin ci pa l i s i n dou bt .

P i lla r 3 r epo r t G l ossa r y 110 | W e s tpac G r oup September 2022 Pi l l ar 3 report T erm D es c r ipt ion I n du s t r y Ex p osu re s to b us in es s e s , gov er nm e n t a n d ot h er f in an ci al ins tit utio n s are c lassi f i e d i nt o in d ust ry c l us ters b a sed upon gr ou p s of rel a ted A NZ SI C c odes. Com p an ies t h at o p er a t e in m u lti p l e in d ustries ar e cl ass if ie d a c co r ding t o t h ei r pr i ma ry i ndu str y . C on s u m e r c u sto me r s a s cl as si f i e d as “r et a i l ” a nd n o t fu rt he r broken do wn. Interes t rat e r i sk i n th e ba nk i n g b ook (I R RBB) The risk of loss in earning s or economic value i n the banking b ook a s a co nsequence of m ovement s in interest rat es. Int e rn al r at in gs - b as ed a ppr o ach (IR B & A d v a n ced I R B) Th e se a p pr oaches allow ba n ks t o use inte rna l es tim a t es o f the ri sks o f t he i r l o an s as inp u t s in t o the de te r min at i on o f t h e a moun t of c re d it r is k c a p it al n e e d ed t o sup p ort t h e o r g anis at i o n . In th e A d v a n c ed I R B ap pr oa ch , bank s m u st s upply t heir o w n esti m a te s f o r a l l t hree c r edit par a me te r s – P roba bil it y of D e faul t, Lo s s Giv e n De fa u lt a nd Expo sur e a t D e fault. Le v era ge ra ti o T h e l ever ag e r a ti o is de fi n e d b y A P R A as T i e r 1 cap it a l d i v ided b y t h e “E xp os u r e m e asur e ” an d is e xpress ed a s a percent age. “ E x p osur e me a su r e” i n cl udes o n - balance sh ee t exp o sure s, de ri vat i v es e xposu r es , s e c uri ti e s f i na ncing tr a n s act i on (SF T) e x pos ur e s, a n d o th e r of f - ba l a nc e sh e et e x p o su res . L iq u i d i ty c ove ra g e r a t io ( LC R ) A n AP RA r e q u i r e ment to m ai nt ai n an a deq u ate level o f une n c u m bere d hi g h q ua l i t y liquid assets, t o me e t li q uidi ty ne ed s f o r a 3 0 cal e nd ar d a y p er i od u nd er an AP R A - def i ned se ve re str es s s ce n ar i o. Abse nt a s it u ati o n of f i na nci a l s tr e s s , th e va lu e of t he L CR m u s t no t be l e s s than 10 0% . LC R is cal cul a ted as the perce n t a g e ra t i o o f s to c k of HQLA, CLF and q ua li f y ing Rese rve B an k o f New Zeala n d sec u r iti es ov e r t he to tal n e t c a sh out f lo w s i n a m od e ll e d 3 0 da y de f i ne d st r es se d s ce nar i o . L o s s giv e n d ef a u lt ( LGD) T h e L G D r ep re s e n t s an e s ti ma te o f the ex pec t ed s everity of a l o s s to W es t pa c s h o u ld a cus t omer def a ul t o c cur duri ng a se ver e econ omic d ow ntu r n . W es t pa c as signs LG D t o e a ch cre di t f aci li t y, a s su m in g an ev en t of def a ul t h a s o ccu r r e d a n d t aki n g i nt o ac c o unt a c o n s e rva ti ve e s t i m ate o f th e ne t realis abl e va l ue of a ssets t o whic h We s tp a c h a s r ecours e and ove r w hi c h it has sec ur it y. L G Ds a lso r e fl ect t he se n io r i ty of e xpo s u r e i n the c us to m er’ s c ap it a l a nd debt s tr u c tu r e. Ma tu r i t y The m a t ur i t y dat e us ed i s d r awn fr o m t h e c on tr a c t u a l mat u ri ty d at e of the cu s tom e r loans . Ma r k - t o - ma r k et re l at e d cr edit r i sk The r i sk o f mar k - to - mar ke t los s e s re lated to de t e rio ra t io n in the cre d i t qu a lity o f a d eri va t iv e c ou n te r part y al s o r e fer r ed t o a s cre d i t va l u a t ion adj us t m en t (CVA ) r i s k . M on te C a r l o sim u la ti on A m ethod of r and o m sampl ing t o a c hiev e nu m er i ca l s ol utions to mathe m at ic a l pr o blem s. Ne t c a s h o u tflow s T ota l exp ec t ed c as h out flo w s min u s tota l ex p ect ed ca sh in f lo w s in t he s pe c ifi e d LC R s tr ess s c e na r i o cal c ula te d in a ccor da n c e w ith A PR A ’ s l i quid i ty s ta nd ar d. N et i nte r est inc ome a t r i sk ( N a R) BR i sk C a pp roved l imit expres sed as a def ine d ba sis point shoc k i n i n tere st ra t e s over a o n e yea r risk ho ri z on. N et S t ab l e F unding R a t io ( NSF R ) T h e NS FR i s d e f i n e d a s the r a tio o f th e amo u n t of av a i l ab l e st a bl e f und ing (ASF ) t o th e amount of r e q ui red s t ab le f un d i n g ( RSF) d efined by A PRA . The amo unt o f AS F is t h e p or t io n o f an AD I ’ s c apita l a nd l i abi l it ies ex pe c t ed t o be a r e li a ble so ur c e o f fun d s o v e r a on e y e a r t i m e h o riz on . The a m ou nt of R SF i s a f u nc t ion o f t h e li quidity cha r a ct e r istics and r e si dual m at uri t ie s o f a n ADI’ s assets an d o f f - ba lanc e s he et a c t ivit i es. A D I’ s m u st m ai n t a i n an N SFR o f a t l e as t 1 0 0% . O ff - b a lanc e s h ee t expos ur e Cr e d it e x po s u r es ar i s i n g f r o m f a c ili ti e s th a t ar e not r ecor d ed o n W e stpa c 's b a lan ce sheet (u n d er a ccount ing m e t ho dolo g y ). Un d ra w n co m mitmen ts and the exp e cted fut ure e xp os u r e ca l cul at e d fo r Wes t pa c ' s d eriva tiv e p r o duc t s are in cl u d ed i n off - ba l an c e shee t e x po s u re.

Pi l la r 3 re p ort G los sary W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 111 T e r m De s c r i p t i o n O n bal an c e sh e e t e xp osu r e Cre d it e x po s ures ar i s i ng from fac ili t i es t hat ar e rec o r de d on W es tpa c 's b a la n ce she et (under a cco u ntin g me tho do lo gy ) . Po t ent ia l f ut u r e c r ed i t e x posur e ( PF C E ) Th e P FCE fo r e a ch t r ansa c ti o n i s calc ul a t ed b y m u l ti p l y in g t h e e f f e c t i ve n oti on a l pr i n c ip al am o u nt b y a c r ed i t co n ve r s i on factor s pec i f ie d in APS 112. P ro babi l i ty of de f a u lt (PD) P robability of d efau lt i s a t hr ou g h - the - cyc le as se s s men t o f t h e like lih oo d o f a cu sto m er d e f au lt i ng o n i t s f inanci al o bl i g ati o n s w i t hi n o n e y e a r . Re s e cur it i sati o n A re sec u r itis a ti o n ex p osur e i s a se curitisa tio n ex p o sure i n whi c h t he r i s k ass o ci a t e d w ith an underlying po o l of exp osu re s is t ranc h ed an d a t l e ast on e o f the u nde rl y i n g e x po sur e s is a s ec u riti s at i on exposu re . In a ddi t i on , a n exp o s u r e t o o ne o r m or e res e c u ri ti sat i o n ex p os u r e s i s a r es e c u rit isation exp o s ur e . Risk weig h t ed ass e t s (RW A ) A s s et s (both on and off - ba l ance she et) a re r i s k we i ght ed ac co r d ing to e a c h asse t's i n h e ren t p ote n ti al f or d e faul t a n d w hat th e l i ke l y lo s s es w o ul d b e i n c a s e of d efa ul t . In t h e ca se o f non - as s e t b a ck ed ri s k s ( i .e. mark et an d o p eratio nal r i s k) , RW A is de t er m i n ed by mul tiplying th e c a pita l re qui re me nt s for t hos e r is ks b y 1 2 .5 . S e curit isa ti o n p ur c ha sed Th e p u rc ha s e of th i rd party se c u ri t i sat i o n e x p os ure , f o r e x a m pl e res id e ntia l m or tg age b acke d s e c u ri t ies. S e c u rit isation r et ai ne d Securi tisat i o n expo s u re s a r is i n g t h rough Westpac ori gin a ted asse ts or g en e r ated by We s tp ac t hir d p a r t y secur iti sa t i o n a c ti vit y . S e c ur it i es f i na n ci n g tran sa c t io n s (S F T ) A P R A def i n e s S F T s as “ tra ns a ctio n s su ch as r epur c ha s e ag r eeme n ts , r eve rse repu rch as e a g reemen ts, a n d s ecur i t y len d in g a nd borrow ing, and ma rgi n len ding tr an sa ct i o ns, w her e t he v a l ue o f t h e t ransa cti on s d epe n ds on th e m a rk et valu a ti o n o f secu ri t i es a nd t h e t r a ns act i o n s a r e t yp i c all y s ubje c t to m arg i n agr e em e n t s. ” Sp o ns o r An ADI woul d g en er a l ly be consi d e re d a s p on sor if i t , i n fact or substan ce, mana ges or ad vi se s the s ecu ri t is at i o n p r og r a m , place s s ec u r i tie s i nto th e m a rk et , or p ro v id e liqui di t y a n d /or c re d i t e nha n c e m e n t s . S t a nda rd mode l T he s tan d a rd m o de l f or Mark e t r i s k a pplies s upe rv is o r y risk weig h t s to t r a di ng p os i t i on s . Str essed VaR ( SVa R ) St ress ed Va R us e s the app ro v ed V a R mo d el b u t appli es a p e r iod of si g ni fi c a nt m a rket st r es s . Mark et r is k cap i t al i s e sti m a t e d b y a dd i n g S tr e ssed V a R to re g u lar V aR . S u bsti t ut i o n a p proach S ubs ti tu t i ons re fers t o t he r u l es go v er n i n g t he cir cumstances whe n cap ital ca n be r e d uced bec au s e an o bli g or ’ s e x posur e h as b e en h ed ged by t h e p ur c hase of cr e dit pr ot e c ti o n fr o m a c o un ter p a r t y a n d th e cou nt e rpar t y ’ s PD is u sed i n p l a ce of t h e o b l igo rs’ PD. Su pe rv i s ory Fo rmula A pp roac h (S FA) Th e S FA applic able to unr ate d exp osur es dy na mi c a lly l ook s a t th e typ e a n d p e rform anc e o f und e rl yin g a ss e t p oo l s fu n de d b y the s ec u r it i s ati o n e x p o su re a s w e l l a s t h e st ru c tura l f ea tu res o f th e t r a n sa c tion to d e ter mine cap ita l re q u iremen ts . Sy ntheti c s ecur itisation A securitisation whe reby the credit ris k, or part of the credit r isk, of a pool is t ransfe rred to a third party which ne e d not be an S P V . The t r ans fer of credit risk can be undertaken t hrough the use of funded ( e.g . credit linked n ot es) or unfu nd ed (e.g. credit default swaps) credit derivatives or g uarant ees . T i e r 2 ca p i ta l I nc l u d es ot h er cap ital ele me n t s, w hich , t o va ry i n g de gree s, fa l l shor t o f t h e qual ity o f T ier 1 cap i ta l b u t sti ll c o nt r ib ute to the ov e r all s t r e ngth of a n e n t i t y a s a g o n e co n c e r n capit a l .

Pi l l ar 3 repor t G l ossar y 112 | W e s tpac G r oup September 2022 Pi l l ar 3 report T e r m Desc r ip t i o n Trading bo o k Tr a d ing bo ok a c t i vi ty r e p re sent s d e a li n gs tha t e ncompass b o o k r u nnin g a nd d is t r ibut ion ac t iv i t y . Th e t y p e s of ma rke t r i s k a ris ing fr om t ra din g ac t iv i ty includ e i n te r e st r a t e risk , f o r e i g n e x c ha n g e r is k , c o m m o di ty ri s k , eq u it y p ri c e ri s k, c r edi t spread r i sk a n d vol at ilit y r is k. F i n an cial M a r k et s a n d T rea sury are r e s pon s ible f o r ma na g i ng m arke t r is k a risi n g f r o m Westp ac’ s t r a din g a cti v it y. V alu e at ri s k (VaR) V aR i s t h e p o t e n t ial los s i n e a r n i ng s fr o m a dve r s e ma rket m o veme n ts a n d i s ca l cu l a t ed over a one - da y t i me h or izon a t a 99% c on fide nc e l ev e l u sin g a minimum o f one year o f h is to r i cal rate d a ta . V aR t a k e s a c c ount of al l m ate ria l m a rk et v ar iab le s t ha t m ay caus e a ch a n ge i n t h e va lue o f t h e t r ad i n g p or t fol i o a nd the b a nkin g b o o k i n clud i ng i n ter est rates, fo re i g n ex ch ange r a te s, p r i ce cha ng e s , v o la t ili ty, and the c o r rel a tion a m on g th e s e va riab le s . Exc h a n g e r a tes T he fo l l o win g e xch a ng e r a te s w er e u se d i n the W es t p ac P ill a r 3 repo rt, a n d r ef l e ct s po t r a tes f o r t he pe r i od e nd. $ 30 September 2022 31 March 2022 30 September 2021 USD 0.6491 0.7481 0.7205 GBP 0.5841 0.5704 0.5359 NZD 1.1355 1.0760 1.0477 EUR 0.6620 0.6704 0.6211

Pi ll a r 3 r ep o rt Dis cl os ure r eg ar d i ng forw ar d - l ook i n g s tat e ments W e stpac Gr ou p Se ptember 2 02 2 Pilla r 3 re p o rt | 113 Th e information conta ined in thi s repo rt contain s statements that consti tute “forw ard - looking statemen t s” within the m ean in g o f s ection 21E of the U.S. Securities Exch ange Act of 193 4 . Forward - lo oking stat ements ar e stat ements about matters th at are not hi s torical facts. Forw ard - l ooking state ments appea r in a number of places in th is r eport and in clude st a tements regard i ng W e st p ac’ s intent, belief or current expectatio ns wi t h respect t o its bus ine ss and ope rations , macro and mic ro economic and market condit i ons, results of ope ratio ns and finan cial condit ion , capital adequacy a nd risk ma nagement, in cluding, without limita t ion, fu t ure loan loss provisions and financial su pport to certain borrower s, forecasted econom ic indic ators a nd performance metric outcomes , indicative driver s, cl imate - and o ther sustainab ility - related state ments, com mitments, ta rgets, p r ojections and m etric s, and other estimated and proxy data. Words suc h as ‘will’, ‘m ay’, ‘e xpe ct’, ‘intend’, ‘s ee k ’, ‘w ould’, ‘should’, ‘could’, ‘continue’, ‘plan’, ‘ estimate ’ , ‘ an ticipa te ’ , ‘ believe ’ , ‘pr o bability’, ‘ indicati ve ’ , ‘risk ’, ‘ aim ’ , ‘ o utlook ’ , ‘fo recast’, ‘ a s sumpt io n ’ , ‘ projection ’ , ‘ target, ’ goal ’ , ‘ guidan ce ’ , ‘ am b i tion ’ or other s imi lar words are use d to ide ntify f orward - looking sta tements. The se statements refle ct We st pac’ s curr ent views on futur e events an d are sub j ect t o chang e, ce rtain kn o wn and unknown risks , u nce rtainties and assumptions and other fa ctors which are, in many i nst ances, beyond Wes tp ac’s c ontrol (and the control of Westpac ’ s o fficers, employees , age nt s an d advi sors), and ha ve been made bas ed up on managem ent’s expect ations o r beliefs conce r ning fu t ure developments and their potential e ffe ct upon Westpac. Forward - loo king statements m ay also be made , verbally or in writing, by m embers of Westpac’s mana gement or Bo ard in connection with th is r e port . Such sta tements are subject t o the same lim i tatio ns , un certainties, assumptions and disclaime rs set out in this report . T h ere can be no ass ur ance t hat fut ure developments or performanc e wil l align with W estpa c’s ex pe ct at ions or that the effect of future developmen t s on Westpa c will b e those anticip a ted. Sh o uld one or more of the risks or uncertain ties materi ali s e , or shoul d u nd e rlying assum pt io ns pro ve inco rrect, actual results could di f fer materiall y fro m the expec ta ti on s described in this report . Factor s that may impact on t he forwa r d - looking stat e ments m a de include, but are not limited to, those described in the section ent it l ed ‘Risk fac to rs ’ unde r the s ection ‘ Risk and risk manageme nt ’ in Westp ac’s 20 22 An nual R eport . When relying on forward - looking s tatement s to make deci sions wi t h respect to W e stp ac , i nve stors and ot h ers should c arefully cons ider such factors and othe r u ncerta inti es and ev ents. Except as r eq uired by law, Westpac a ssumes no obligatio n to revise or up dat e any forward - looking statement s in this rep ort, whet her from new informati o n , fut ur e ev ents , con ditions or otherwise, a fter t he date of this report.