Westpac Financial Performance Update

38 | Position relative to peers¹ Cash earnings ($m) Lending ($bn) FY14 FY15 1,215 1,177 ■FY14 FY15 104.8 96.6 916 864 69.0 846 776 807 823 64.6 65.6 68.2 64.4 60.8 Return on average assets (%) 1.20 1.17 1.20 1.20 Westpac NZ Peer 1 Peer 2 Peer 3 Westpac NZ Peer 1 Peer 2 Peer 3 Westpac NZ Peer 1 Peer 2 Peer 3 Deposit to loan ratio (%) 75.2 62.7 71.3 66.7 Westpac NZ Peer 1 Peer 2 Peer 3 Common equity Tier 1 capital ratio² (%) 11.1 IAPs to impaired assets³,4 (%) 10.7 41.8 40.1 10.5 Westpac NZ Peer 1 8.8 Peer 2 Peer 3 14.8 39.5 Westpac NZ Peer 1 Peer 2 Peer 3 1 Unless otherwise stated the financial results are as reported for the New Zealand operations in the Full Year 2015 Financial Results of each bank. Peer 2's financial year end is 30 June 2015. 2 Based on NZ legal entity 2015 Full Year Disclosure Statements. Peer 1 and 3 as at 30 September 2015, Peer 2 as at 30 June 2015. 3 IAP is individually assessed provisions. 4 Geography Disclosures, Peer 1 and 2 as at 30 September 2015, Peer 2 as at 30 June 2015. PRIVATE & CONFIDENTIAL

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