• BOQ to recognize $170 million goodwill impairment in Retail Bank CGU
• Impairment due to uncertainty in industry structural shifts and increase in discount rate
• No impact on FY25 cash earnings or CET1 capital ratio

Bank of Queensland (BOQ) today announced a notable item impacting its full-year 2025 statutory profit. In accordance with AASB 136 'Impairment of Assets', the Group has completed its goodwill impairment testing and will recognize a goodwill impairment of $170 million in the Retail Bank Cash Generating Unit (CGU). This will reduce the carrying value of the Retail Bank CGU goodwill to zero in the second half of 2025. The majority of the goodwill held on BOQ's balance sheet related to the 2007 acquisition of Home Building Society Limited. The impairment is due to uncertainty in industry structural shifts in retail banking, reflected in an increase in the discount rate used to determine the recoverable amount of the CGU. There will be no impact to FY25 cash earnings or the CET1 capital ratio. The impairment will be recorded in FY25 statutory profit after tax. BOQ anticipates paying a FY25 fully franked final dividend within the previously disclosed target payout range of 60 - 75% of cash earnings. Additionally, BOQ will enhance comparability and transparency by no longer reporting half-yearly movements in some balance sheet items, such as Gross Loans and Advances (GLA) and Customer Deposits, on an annualized basis. BOQ will release its financial results for the financial year ended 31 August 2025 on Wednesday, 15 October 2025 and hold a virtual market briefing to present and discuss the results at 10:00am AEDT on the same day.