• Net profit excluding Notable Items of $1.9bn, up 6% on 2H25 quarterly average
• Net interest margin of 1.94%, down 1bp on 2H25 quarterly average
• CET1 capital ratio of 12.3%, down 22bps from Sep-25

Westpac has released its 1Q26 Investor Discussion Pack, reporting a net profit excluding Notable Items of $1.9bn, up 6% on the 2H25 quarterly average. Net operating income increased 1% to $5.8bn, while operating expenses declined 5% (excluding the impact of a restructuring charge in 2H25). The bank's net interest margin decreased 1bp to 1.94%, with the core NIM declining to 1.79%. Westpac's CET1 capital ratio decreased 22bps to 12.3% from September 2025, primarily due to lending growth, the impact of the RAMS sale, and a share buyback, partially offset by capital generation. Risk weighted assets increased 0.5% to $452.4bn. The bank's credit quality metrics remained stable, with impaired assets at 0.45% of total committed exposures and collective provisions at 125bps of credit RWA. The Australian mortgage portfolio continued to perform well, with 86% of customers ahead on repayments and an average LVR of 65%. Westpac's funding and liquidity measures remained strong, with the LCR at 133% and the NSFR at 112% as of December 2025.

Westpac has not provided any high-importance, price-sensitive forward-looking financial metrics in this announcement.