• Operating momentum accelerating, with strong financial performance and customer service improvements
• Investing in people and technology to drive future growth, including UNITE transformation program
• Maintaining robust foundations with strong capital, funding and credit quality

Westpac has reported solid 1H26 results, with net profit excluding notable items of $3.5 billion, down 1% on 1H25. Pre-provision profit increased 4% to $5.5 billion, driven by 4% deposit growth and 3% loan growth. The bank has maintained a strong CET1 capital ratio of 12.4%, with a $2.7 billion surplus above its target. Credit quality remains sound, with stressed exposures at 1.16% of total committed exposures. The bank is seeing strong momentum across its businesses, with improvements in customer service, digital capabilities, and risk management. Westpac is investing in its people, with expanded learning and development programs, and in technology, with the UNITE transformation program progressing on track. The bank is also supporting customers and communities, with $518 billion in home lending, $57 million in tertiary scholarships, and $13 million spent with Indigenous-owned suppliers. Looking ahead, Westpac is well-positioned to navigate the evolving operating environment, with a focus on accelerating execution, strengthening risk management, and supporting lower cost to income ratio.

Westpac expects to deliver FY26 revenue growth of 3-5% and a cost to income ratio ex notable items of 51-53%. The bank's credit impairment charge is expected to be 10-15 basis points of average loans for FY26.

Westpac remains focused on accelerating execution, enhancing customer service, and driving productivity improvements through its UNITE transformation program. The bank is well-positioned to navigate the evolving operating environment and deliver sustainable growth.