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Introduction andIntroduction andOverviewOverview

David MorganChief Executive Officer

13 August 2001

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DisclaimerDisclaimer

The material contained in the following presentation isintended to be general background information on WestpacBanking Corporation and its activities as at 13 August 2001.

The information is supplied in summary form and is thereforenot necessarily complete. Also, it is not intended that it berelied upon as advice to investors or potential investors, whoshould consider seeking independent professional advicedepending upon their specific investment objectives, financialsituation or particular needs.

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What the market is sayingWhat the market is saying

• Positive view of Australian Banks– higher quality balance sheets– relatively solid & predictable earnings

outlook– seen as quality defensive stocks

• Positive view of Westpac– growing track record of performance– sound full year result expected

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What the market is askingWhat the market is asking

• Sustainability of current revenuegrowth

• Wealth management strategy

• How far has the cost story to run

• Asset quality through the cycle

Seeking clarification on Westpac’sfuture growth:

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ugust 2001Strategic clarityStrategic clarity

What we are:

• Customer focused witha customer-centricorganisation structure

• Focused on ourstrengths and sourcesof value and willing topartner

• Australasian focussed(Australia, NZ, Pacific)

• Maintaining a longer-term watching brief onAsia

What we are not:

• A collection of specialisedproduct business units

• Seeking to be a fullyintegrated financialservices provider

• Focusing on competitivelyintense, mature offshoremarkets

• Pursuing majoropportunities in Asia

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What we are:• Focused on balancing

growth and returns

• A high-return, high-growthwealth managementbusiness

• Multi-channel integrated‘bricks and clicks’ serviceorganisation

What we are not:• Seeking growth for

growth sake,compromising returns

• Dependent onacquisitions for growth inwealth management

• Pursuing pure-playe-Banking alternatives

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ugust 2001Customer-centric structureCustomer-centric structure

Servicing &Processing

Servicing &Processing

ProductSolutionsProduct

SolutionsSales &

MarketingSales &

Marketing

Shaun MaysWealth Management

Olga ZoutendijkBusiness Products

Ken DouglasConsumer Products

Corporate & Institutional Corporate & Institutional

Jim L’EstrangeConsumer

Personal

Priority

Private

Paul LilleyBusiness

BusinessDirectMiddleMarket

Greg ConwayOperations

Mary Ann MaxwellInformation Technology

Sally HermaneBusiness

Michael HawkerCustomer Segments

Corporate & Institutional

David Willis

David ClarkeProduct Portfolios

David Clarke

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Order of proceedingsOrder of proceedings

• Financial Services & WealthManagement

• Business & ConsumerBanking Overview

• Business Banking

• Consumer Banking

• Westpac Institutional Bank

- David Clarke

- Michael Hawker

- Paul Lilley

- Jim L’Estrange

- David Willis

Afternoon tea break

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Order of proceedings - continuedOrder of proceedings - continued

• eTransformation and

eBusiness

• Financial Settings

and Issues

• Credit Quality & Dynamic

Provisioning

• Summary and Wrap-up

• Questions

- Sally Herman

- Phil Chronican

- Jim Coleman

- David Morgan

Refreshments

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Economic settingEconomic setting

• GDP growth to rebound from 2.75% in 2001 to 4%in 2002

• Credit growth will slow and remain around 9% in2002

• Interest rates likely to remain relatively flat formost of next year

• Underlying inflation to slow from 3% to around2.5%

• Outlook remains positive for earnings growth

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Summary and wrap-upSummary and wrap-up

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Strategic summaryStrategic summary

• Australasian focused

• Aggressively pursuing growth returns

• Focusing on what we do best

– Customer focused distribution andsales

– Providing ‘best of breed’ products

– Partnering to deliver value inservicing and processing

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In shortIn short

• Strong growth and returns

• Major opportunities in our customerbase

• Relentless focus on customers - gettingthe basics right

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