National Australia Bank Limited · ASX:NAB
National Australia Bank — FY2026 Earnings Presentation
127 slides from National Australia Bank's earnings presentation, November 2026
Slide 1: Full Year Results 2026 Investor Presentation
Full Year Results 2026 Investor Presentation 5 November 2026 Andrew Irvine Group Chief Executive Officer Inder Singh Group Chief Financial Officer and Group Executive, Strategy 026 Netional Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 national australia bank
Slide 2: NAB 2026 Full Year Results Index
NAB 2026 Full Year Results Index r personal use only This presentation is general background information about NAB. It is intended to be used by a professional analyst audience and is not intended to be relied upon as financial advice. Refer to page 127 for legal disclaimer. Financial information in
Slide 3: Overview
r personal use only Overview Andrew Irvine Group Chief Executive Officer
Slide 4: Key messages
Key messages r personal use only Strong momentum in FY26 with 5.8% revenue and 6.9% underlying profit1 growth Supporting customers in an evolving environment Good progress on our key priorities to improve returns: business banking, deposits and proprietary home lending Multi-year ambition to moderni
Slide 5: Financial results (YoY)
Financial results (YoY) Underlying profit ($m) Cash earnings1 ($m) Statutory profit ($m) r personal use only 6.9% ex LNIs Flat ex LNIs (9.1%) 11,722 10,965 1,347 7,091 7,090 949 6,759 6,143 10,375 6,141 FY25 FY26 FY25 FY26 FY25 FY26 Impact of large notable items2 Impact of large notable items2 Statu
Slide 6: Cash ROE and EPS
Cash ROE and EPS1 Cash return on equity (ex LNIs) Basic cash EPS (ex LNIs) (cents) r personal use only 247 221 229 232 231 12.9% 11.7% 11.6% 11.4% 11.4% FY22 FY23 FY24 FY25 FY26 Dividend per share and payout ratio (cents) 167 169 170 170 151 FY22 FY23 FY24 FY25 FY26 Dividend payout ratio – guided by
Slide 7: Navigating an evolving environment
Navigating an evolving environment Key economic indicators Cautiously optimistic on longer term r personal use only deteriorated over 12 months thematics7 Sep 25 Sep 26 Unemployment remains low House prices expected to stabilise in mid-2027 2.9% Persistent inflation1 3.7% Favourable commodity
Slide 8: Supporting our customers
Supporting our customers Proactively engaging with business customers Supporting retail customers r personal use only • Signs of emerging customer stress, consistent with • Launched the NAB Financial economic conditions Health Campaign proactively • Taking proactive action earlier risk identificatio
Slide 9: Strong balance sheet
Strong balance sheet Balance sheet positioned for the environment Provisioning coverage r personal use only $5.4bn CP at Sep 26 includes $2.0bn of forward-looking provisions • Strong balance sheet settings across capital, provisioning and liquidity 1.69% 1.76% 1.62% 1.64% 1.68% • $103m increase in f
Slide 10: Our long-term strategy
Our long-term strategy r personal use only 10
Slide 11: MFI and strategic NPS
MFI and strategic NPS NAB share of Business MFI1 18.8% (+210bps vs Sep 25) NAB share of Consumer MFI2 11.7% (+80bps vs Sep 25) r personal use only #1 Medium & Large Business3 #3 Mass Consumer4 +35 +10 +30 31 6 +5 4 +25 27 +20 +0 0 +15 14 14 -5 -4 +10 +5 -10 +0 -15 Sep 25 Dec 25 Mar 26 Jun 26 Sep 26
Slide 12: Three key priorities to drive strong sustainable returns
Three key priorities to drive strong sustainable returns Strategic focus r personal use only Grow • Clear market leadership in Business & Private Banking business • Disciplined growth in Corporate & Institutional Banking banking • More seamless experiences for customers and bankers Successful execut
Slide 13: Business & Private Banking
Business & Private Banking Supporting the needs of SME customers1 to drive long-term business growth in Australia Digitise simple Diversified growth Deepening customer Develop the workforce r personal use only needs relationships of the future Growing business lending, managing JBWere inflows and FU
Slide 14: Corporate & Institutional Banking
Corporate & Institutional Banking Consistent, disciplined execution to deliver attractive growth and returns Deepening long-term Disciplined balance sheet Strong expertise & Ongoing relationships with target usage, leveraging distribution r personal use only leading capabilities simplification secto
Slide 15: Personal Banking
Personal Banking Deepening whole of customer relationships through consistent and personalised customer experiences Deepen & retain Disciplined home lending Reimagining customer relationships in growth via proprietary & experiences across Digitise priority end- r personal use only target segments st
Slide 16: Home lending strategy to optimise returns
Home lending strategy to optimise returns Home lending growth through focus on proprietary and strategic broker relationships More challenging environment Taking deliberate actions r personal use only Closed Advantedge book from 1 Oct 2025, remaining book of $19bn migrated • Softening housing mark
Slide 17: New Zealand Banking
New Zealand Banking Maintain market leadership in business banking while growing in underweight personal bank Deliver market leading Perfect the basics Build strong foundations r personal use only customer experiences Good balance sheet momentum GLA growth skewed to home lending (NZ$bn) FY26 Balance
Slide 18: Continued investment in technology and transformation
Continued investment in technology and transformation A multi-year, business-led transformation shaping the bank to be simpler, faster and more resilient BUILDING ON STRONG Simpler E2E processes r personal use only 32% net reduction in # of products since FY224 FOUNDATIONS Fewer products Simple targ
Slide 19: AI accelerating delivery of our strategic ambition
AI accelerating delivery of our strategic ambition ~50 AI squads supported by global partners, focused on delivering customer and business outcomes r personal use only Early value outcomes1 for user groups using Agentic AI tools Next wave of Agentic AI tools in active build Growth Productivity Enabl
Slide 20: FY26 Financials
r personal use only FY26 Financials Inder Singh Group Chief Financial Officer & Group Executive, Strategy
Slide 21: Financial results
Financial results Underlying profit ex LNIs1 Cash earnings ex LNIs1,2 Statutory profit ($m) ($m) ($m) r personal use only 0.3% (2.4%) 23.4% 5,852 5,870 3,588 3,502 3,393 2,750 1H26 2H26 1H26 2H26 1H26 2H26 P&L key financial indicators FY26 ($m) FY26 v FY25 2H26 ($m) 2H26 v 1H26 Net operating income
Slide 22: Divisional underlying profit
Divisional underlying profit r personal use only Strong momentum in business divisions Stable 2H underlying profit in challenging environment Business & Private Banking Personal Banking ($m) ($m) 11.2% 6.8% 10.4% 5,893 (0.6%) 5,299 2,850 3,043 2,044 2,257 1,132 1,125 FY25 FY26 1H26 2H26 FY25 FY26 1H
Slide 23: Revenue
Revenue Net operating income (HoH) ($m) HoH increase 2.5% (ex M&T 3.6% increase ) r personal use only 76 7 (12) (79) 282 10,545 10,870 11,223 11,144 Sep 25 Mar 26 Volumes Margin Fees & Other Sep 26 Markets & Sep 26 Commissions (ex M&T) Treasury Markets & Treasury (M&T) income breakdown Key revenue d
Slide 24: Net interest margin
Net interest margin Net interest margin (HoH) r personal use only HoH decrease 2bps Up 2bps ex M&T (0.04%) (0.02%) 0.06% 0.00% (0.02%) Aust BL -1bp Largely revenue Aust HL -1bp Mix -2bp Mainly deposits neutral Costs +1bp (includes +1bp vol impact) Higher hedged vol 1.78% 1.81% offset -1bp 1.83% 1.79
Slide 25: Operating expenses
Operating expenses Operating expenses ex large notable items1 (YoY) ($m) r personal use only +3.2% +5.0% +1.4% (4.7%) +4.9% (0.4%) +4.5% Investment in the business 139 64 (463) 233 193 (98) (90) 150 316 ~70% Includes $40m Personnel Fraud and related Fin Crime 10,330 10,292 9,848 Wage $40m STI inflat
Slide 26: FY27 cost outlook
FY27 cost outlook1 FY27 growth in underlying opex2 expected to be <3%1 Consistent investment in business, ($m) higher proportion expensed r personal use only 125 38% 48% ~55-60%6 < 3% 300 $1.78bn $1.84bn ~$1.8bn1 Near term headwinds with Underlying cost benefits expected in growth subsequent years 1
Slide 27: Asset quality
Asset quality Credit impairment charge (CIC) 2H26 outcomes ($m) • 2H26 CIC of $841m, up $135m • Underlying collective charge1 of $196m, mainly reflects r personal use only 0.18% 0.20% 0.12% 1,350 0.10% 0.09% 0.20% volume growth and asset quality deterioration in business 1,150 841 lending portfolio,
Slide 28: Provisioning
Provisioning Total provision balances higher 2H26 Key considerations ($m) r personal use only 1.80% • Total provisions of $6.8bn (or 1.76% of CRWA) 1.76% 1.69% 1.68% represent 1.6x 100% base case scenario3 1.62% 1.64% 1.55% 1.56% • IAP balance of $1.4bn, $137m higher than Mar 26 1.46% 1.47% mainly r
Slide 29: Capital
Capital Group Level 2 CET1 capital ratio (%) L1: 11.53% L1: 11.94% r personal use only 0.78 (0.58) (0.21) (0.07) (0.03) (0.07) 0.40 10.5% minimum4 IRRBB -11bps 11.65 11.87 12.07 Mar 26 Cash earnings Dividend Credit RWA1 Other RWA Net FX Other FY26 interim Sep 26 Sep 26 translation DRP actions2 pro f
Slide 30: Capital settings appropriate for current environment
Capital settings appropriate for current environment Stronger starting position and focus on improved capital generation expected to support continued growth and sustainable shareholder returns r personal use only Sep 25 CET1 ratio1 (pro forma) 11.81% More resilient capital settings for FY274 Cash e
Slide 31: Funding and liquidity
Funding and liquidity Key messages Liquidity position well above regulatory minimums • Maintained strong funding and liquidity position with LC (%) r personal use only • LCR and NSFR well above regulatory minimums • Balance sheet is well positioned for periods of volatility • FY26 term funding issua
Slide 32: Closing comments
r personal use only Closing comments Andrew Irvine Group Chief Executive Officer
Slide 33: Taking actions to be a stronger and more efficient bank
Taking actions to be a stronger and more efficient bank Sep 26 pro forma1 CET1 ratio 37bps higher than Sep 25 r personal use only Pro forma CET1 ratio of 12.07%1 Strengthened 11.70% 11.65% 11.87% 12.07% capital $7.2bn above regulatory minimum CET1 ratio of 10.5%2 Sep 25 Mar 26 Sep 26 Sep 26 pro form
Slide 34: Well positioned for opportunities in business banking
Well positioned for opportunities in business banking Business credit growth moderating but expected to remain stronger than housing1 r personal use only (%) Forecasts2 11 8% Supportive • Business credit growth outlook for supported by structural 6 6% business banking longer-term thematics growth 1
Slide 35: Key areas of focus in FY27
Key areas of focus in FY27 r personal use only • Maintain resilient balance sheet and disciplined approach to risk management • Supporting customers through an evolving environment • Continue to focus on growing business banking, driving deposit growth and strengthening proprietary home lending, sup
Slide 36: Additional Group Information
r personal use only Additional Group Information
Slide 37: NAB at a glance
NAB at a glance Cash earnings (excluding large notable items) divisional % of Cash Key financial data FY26 splits1,2 earnings r personal use only Business & Private Banking 52.0% Cash earnings1,2 $7,090m Personal Banking 19.2% Cash ROE (excluding large notable items) 11.4% Corporate & Institutional
Slide 38: Ambition to be the most customer-centric company in Australia and NZ
Ambition to be the most customer-centric company in Australia and NZ NAB Customer Voices - a three pillar approach to deepen relationships and improve advocacy r personal use only Continued to focus on 20 “Must Design and rollout customer Win Battles” – key customer Track performance using feedback
Slide 39: Operating expenses
Operating expenses Operating expenses ex large notable items 1(HoH) ($m) r personal use only 39 (81) 150 94 (88) 30 56 (28) 84 5,274 5,096 5,018 Mar 261 Salary and Volume Technology & D&A Other Productivity Sep 26 AUD/NZ FX3 Remediation Cap software Sep 26 inflation related Investment2 (Underlying)
Slide 40: Markets & Treasury income
Markets & Treasury income Markets & Treasury (M&T) income breakdown ($m) 993 r personal use only 970 914 868 846 813 719 719 696 583 602 606 478 445 470 577 369 345 343 262 26 29 8 3 10 0 367 358 364 345 360 368 365 366 387 343 (17) (37) (15) (6) Mar 22 Sep 22 Mar 23 Sep 23 Mar 24 Sep 24 Mar 25 Sep
Slide 41: Remediation
Remediation Remediation provision charges1 Customer-related remediation provision charges1 ($m) r personal use only Customer-related remediation • Continuing operations include matters that 109 110 101 relate to the incorrect charging of rates and fees, 87 14 13 and application of discounts 73 45 •
Slide 42: Group cash earnings reconciliation to statutory net profit
Group cash earnings reconciliation to statutory net profit • NAB uses cash earnings (rather than statutory net profit attributable to owners of the Company) for its internal management reporting purposes and considers it a better reflection of the Group’s underlying performance. Accordingly, informa
Slide 43: Digital Transformation, Technology and Innovation
r personal use only Digital Transformation, Technology and Innovation
Slide 44: Technology and transformation
Technology and transformation Building a bank that is simpler, faster and more resilient TECHNOLOGY SIMPLE FAST RESILIENT r personal use only AMBITION STRATEGIC PILLARS Modern foundations that improve Fewer products and simpler processes Accelerating delivery to customers availability of services to
Slide 45: AI at NAB over time
AI at NAB over time r personal use only 2020- 2024 2025 2026 2023 AI enabled data platform Customer Brain powered by Appointed Group Executive Customer Brain powered by launched ~800 AI models and real- Digital, Data and AI >3500 AI models time data Rolled out Databricks Genie – AI enhance
Slide 46: AI @ NAB
AI @ NAB Delivering better customer and colleague outcomes with AI Brilliant Customer Experiences with AI-Powered Channels r personal use only Growth Productivity AI for Colleagues Governance Accountable & oversight Executives Banker.AI Operations.AI Ruby.AI Augment and coach Transform core processe
Slide 47: Digital Customer Experience: Mobile
Digital Customer Experience: Mobile We continue to deliver excellent digital experiences whilst keeping our customers safe r personal use only #1 Major banking app in the Apple App Store & Google Play for over a year1 4.6 Customer verification via App Google Play Apple App Store Tailored experience
Slide 48: Digital Customer Experience: NAB Connect
Digital Customer Experience: NAB Connect Supporting B&PB1 and C&IB customers to manage their business anywhere, NAB Connect continues to lead the market in complex business digital banking channels r personal use only #1 Digital Platform2 for 8 years running 2019-2026 Mobile App and internet capabil
Slide 49: Protecting customers from scams, fraud and cyber threats
Protecting customers from scams, fraud and cyber threats r personal use only How we are protecting customers 24/7 fraud assistance Real-time intervention Security technology Enhanced detection Customer education Stronger together and support Specialist support to Timely warnings to Investment in Use
Slide 50: Additional Divisional Information
r personal use only Additional Divisional Information – Business & Private Banking 52 – Personal Banking 56 – Corporate & Institutional Banking 58 – New Zealand Banking 60
Slide 51: Divisional contributions
Divisional contributions Divisional cash earnings1 FY26 ($m) FY26 v FY25 2H26 ($m) 2H26 v 1H26 r personal use only Business & Private Banking 3,685 10.7% 1,835 (0.8%) Personal Banking 1,362 8.7% 662 (5.4%) Corporate & Institutional Banking2 1,740 (6.1%) 819 (11.1%) New Zealand Banking3 1,381 (7.0%)
Slide 52: Business & Private Banking
Business & Private Banking Revenue Underlying profit Cash earnings ($m) ($m) ($m) r personal use only 8.2% 11.2% 10.7% 5.7% 6.8% (0.8%) 8,531 9,230 5,299 5,893 3,330 3,685 4,487 4,743 2,850 3,043 1,850 1,835 FY25 FY26 1H26 2H26 FY25 FY26 1H26 2H26 FY25 FY26 1H26 2H26 Business and housing lending GLA
Slide 53: Business & Private Banking business lending
Business & Private Banking business lending Diversified Australian business lending growth (YoY)1 Broad-based growth across most sectors including Denotes lending balance Trade, Manufacturing, as at 30 September 2026 r personal use only Health and Community Services, and Construction 16.2% 11.2% 10.
Slide 54: B&PB business lending platform
B&PB business lending platform Ongoing digitisation supporting faster, more seamless lending experiences for bankers and customers r personal use only Simplified Fast, automated Digital fulfilment, End-to-end, Automated account origination, digital verification & settlement & digital business manage
Slide 55: An integrated Private Wealth offering
An integrated Private Wealth offering Deepening relationships and supporting intergenerational wealth opportunities of our customers Integrated proposition Performance FY26 key highlights r personal use only Deposits Housing lending ($bn) ($bn) • Strong home lending growth, skewed to proprietary cha
Slide 56: Personal Banking
Personal Banking Revenue Underlying profit Cash earnings ($m) ($m) ($m) r personal use only 7.3% 10.4% 1.5% 8.7% (0.6%) (5.4%) 4,625 4,962 2,463 2,499 2,044 2,257 1,253 1,362 1,132 1,125 700 662 FY25 FY26 1H26 2H26 FY25 FY26 1H26 2H26 FY25 FY26 1H26 2H26 Housing lending GLAs and deposits Other key m
Slide 57: Digital bank for the next generation
DIGITAL BANK FOR THE NEXT GENERATION HELPING YOUNG AUSTRALIANS DO BETTER WITH MONEY r personal use only Experiences shaped by customers Strong customer advocacy NPS1 +22 4.7 Mortgages OUT OF 5 >60% NPS1 +22 A highly rated App2 Onboarded customers under 35 years of age Continued momentum Growing cust
Slide 58: Corporate & Institutional Banking
Corporate & Institutional Banking1 Underlying profit Cash earnings ($m) ($m) r personal use only 1.2% (ex Markets 4.9%) (6.1%) (5.1%) (ex Markets 3.9%) (11.1%) 2,702 2,734 1,854 1,740 1,403 1,331 921 819 FY25 FY26 1H26 2H26 FY25 FY26 1H26 2H26 Revenue breakdown2 Other key metrics ($m) Revenue ex Mar
Slide 59: Corporate & Institutional Banking customer metrics
Corporate & Institutional Banking customer metrics Large Corporate & Institutional – NPS1 Large Corporate & Institutional RSI1 Transactional Banking – RSI2 r personal use only 60 580 50 620 40 530 570 30 20 520 480 10 0 470 430 2021 2022 2023 2024 2025 2026 2021 2022 2023 2024 2025 2026 2021 2022 20
Slide 60: New Zealand Banking
New Zealand Banking1 Revenue Underlying profit Cash earnings ($m) ($m) ($m) r personal use only 0.9% (1.3%) (7.0%) 1.7% (0.6%) 3,509 3,541 (10.3%) 2,146 2,118 1,756 1,785 1,485 1,381 1,062 1,056 728 653 FY25 FY26 1H26 2H26 FY25 FY26 1H26 2H26 FY25 FY26 1H26 2H26 Business and housing lending GLAs and
Slide 61: New Zealand Banking customer metrics
New Zealand Banking customer metrics #1 BNZ Consumer NPS1 =#2 BNZ Business NPS2 r personal use only 15 50 10 7 38 5 4 4 40 0 32 -2 30 -5 25 -10 20 23 -15 -18 -20 10 17 -25 -30 0 Sep 25 Dec 25 Mar 26 Jun 26 Sep 26 Sep 25 Dec 25 Mar 26 Jun 26 Sep 26 BNZ Peer 1 Peer 2 Peer 3 Peer 4 BNZ Peer 1 Peer 2 Pe
Slide 62: New Zealand housing lending key metrics
New Zealand housing lending key metrics New Zealand housing lending Sep 25 Sep 26 Housing 90+ days past due r personal use only Total Balances (spot) NZ$bn Portfolio 63.9 68.8 Drawdowns NZ$bn1 16.5 18.9 0.37% Portfolio By product type - Variable rate 13.2% 10.1% 0.18% - Fixed rate 85.1% 88.1% - Line
Slide 63: New Zealand customer deposits
New Zealand customer deposits Customer deposits balances by product (NZ) Customer deposits percentage by product (NZ) (NZ$bn) (%) r personal use only 90 91 85 87 82 3 3 3% 3% 3% 3% 3% 3 3 3 40 41 47% 46% 45% 44% 45% 39 39 38 18 19 19 19% 21% 21% 22% 21% 16 17 25 26 27 28 28 31% 30% 31% 31% 31% Sep 2
Slide 64: Australian Lending and Deposits
r personal use only Additional product information Australian Lending and Deposits
Slide 65: Australian gross loans and advances by division
Australian gross loans and advances by division1 Business & Private Banking Personal Banking Corporate & Institutional Ubank ($bn) Banking2 r personal use only 302 291 4 280 4 269 271 267 258 264 4 9 8 3 9 9 114 113 109 106 132 135 261 263 124 249 255 116 174 184 158 166 15 16 17 18 Mar 25 Sep 25 Ma
Slide 66: Housing lending key metrics
Housing lending key metrics1 Australian housing lending Mar 25 Sep 25 Mar 26 Sep 26 Sep 25 Mar 26 Sep 26 Portfolio Drawdowns3 r personal use only Total Balances (spot) $bn2 355 364 373 377 47 48 39 Average loan size $’000 per account 397 413 427 438 604 633 613 By product type - Variable rate 93.2%
Slide 67: Housing lending practices & policies
Housing lending practices & policies Key origination requirements Loan-to-value (LVR) limits • Income verified using a variety of documents including Principal & Interest – Owner Occupier 95% r personal use only payslips and/or checks on salary credits into customers’ accounts Principal & Interest –
Slide 68: Housing lending volume and flow movements
Housing lending volume and flow movements Housing lending flow movements1 ($bn) r personal use only (1) (4) (11) 38 (15) (3) 373 377 Mar 26 New Fundings Net Refinance Interest & Pre-payments Property Sales Advantedge Sep 26 ex. Refi2 Repayments & Closures Housing lending by division ($bn) 254.7 260.
Slide 69: Housing lending portfolio profile
Housing lending portfolio profile Housing lending volume by borrower and repayment Australian mortgages profile1 type1 r personal use only VIC/TAS 32% Owner Occupier Interest Only, 3.9% Owner Line of Credit, 1.7% Occupier QLD 15% Principal & Investor Interest, Interest Only, 60.4% 13.4% WA 7% NSW/AC
Slide 70: Housing lending portfolio profile
Housing lending portfolio profile Owner occupied lending volume growth1 Investor lending volume growth1 ($bn) ($bn) r personal use only 3.2% (-0.1% HoH) 3.0% (2.2% HoH) 240.0 248.0 247.8 127.5 128.4 131.3 Sep 25 Mar 26 Sep 26 Sep 25 Mar 26 Sep 26 Owner Occupier monthly growth2 Investor monthly growt
Slide 71: Housing lending offset and redraw balances
Housing lending offset and redraw balances1 Offset & redraw balances Offset & redraw balances distribution by number of ($bn) accounts r personal use only 110 25% 45% 100 20% 35% 90 15% 25% 80 10% 15% 70 5% 5% 60 0% -5% 50 0 up to 5k 5k to 25k 25k to 50k 50k to 100k 100k to 250k to 500k to Sep 24 Ma
Slide 72: Housing lending LVR
Housing lending LVR1 LVR breakdown at origination r personal use only 60% 40% 20% 0% LVR LVR LVR LVR LVR ≤60% 60.01% - 70% 70.01% - 80% 80.01% - 90% >90% Mar 25 Sep 25 Mar 26 Sep 26 Dynamic LVR breakdown of drawn balance2 60% Sep 26 Dynamic LVR 39.7% >90% DLVR $17.7bn Of which $6.6bn not covered by
Slide 73: Australian customer deposits
Australian customer deposits1 Customer deposits by product ($bn) Customer deposits by product (%) r personal use only 618 599 582 36 5% 5% 6% 6% 560 34 32 9% 10% 29 62 10% 10% 56 60 52 180 31% 29% 28% 29% 171 170 172 154 156 26% 26% 26% 25% 143 148 164 175 181 184 29% 30% 30% 30% Mar 25 Sep 25 Mar 2
Slide 74: Australian customer deposits
Australian customer deposits1 Business & Private Banking Personal Banking Corporate & Institutional Corporate Functions & ($bn) Banking Other2 r personal use only 252 252 235 238 21 21 19 20 189 182 176 87 88 169 85 39 154 89 35 37 146 32 142 0 134 1 0 38 1 34 35 54 34 52 48 52 52 49 49 50 32 34 36
Slide 75: Group Asset Quality
r personal use only Additional information Group Asset Quality
Slide 76: Group credit impairment charge
Group credit impairment charge Credit impairment charge as % of GLAs r personal use only Global Financial 1.4% Crisis 1.2% 1.0% COVID 0.8% 0.6% 0.4% 0.19% Late 80’s / Early 90’s 0.2% Recession -0.1% Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep S
Slide 77: Individually assessed provisions and charges
Individually assessed provisions and charges Individually assessed provision (IAP) Net write-offs ($m) ($m) r personal use only 0.11% 0 0.08% 0.10% 55.8% 50.3% 0.06% 51.4% 47.4% 0 1,391 0 1,600 1,163 1,254 920 110 0.3 0 71 87 55 431 400 0 1,281 325 1,092 1,167 225 0 865 0 0% -0.2 0 Mar 25 Sep 25 Mar
Slide 78: Group estimated long run loan loss rate
Group estimated long run loan loss rate Group business mix – GLAs by category Estimated long run loan loss rate r personal use only Sep 1985 Long run Long run 10 years Personal NAB Australian average average lending 8% geography net write off rates as a % of GLAs (1985 – (2007 – (2017 – 20262) 20262
Slide 79: Group lending mix
Group lending mix1 Gross loans and advances by product - $822.4bn Gross loans and advances by geography2 Other International 3% r personal use only Asset New Zealand 12% Overdrafts 1% & lease financing 2% Credit card outstandings 1% Australia 85% Housing loans 55% Gross loans and advances by busines
Slide 80: Provisions
Provisions Movement in provisions1 $415m increase in provisions for expected credit losses Mar 26 – Sep 26 ($m) r personal use only 137 (3) 106 175 $103m net increase in forward- looking provisions 6,801 6,165 6,386 Sep 25 Mar 26 Underlying Forward-looking Target sector Individually Sep 26 collectiv
Slide 81: Expected Credit Losses (ECL) assessment
Expected Credit Losses (ECL) assessment ECL scenarios & weightings Key considerations Total Provision for ECL1,2 • Increase in ECL vs Mar 26 reflects an increase of $278m in r personal use only 2H26 100% collective provision and an increase of $137m in IAP balances $m 100% 100% (probability Upside B
Slide 82: Group non-retail lending industry sector analysis
Group non-retail lending industry sector analysis Non-performing exposures (NPLs) as % of lending EAD1 by regulatory industry categories2 r personal use only Target sectors with FLAs Sep 25 Mar 26 Sep 26 NPLs as a % of EAD (Sep 26) NPLs (ex F&I) as a % of EAD (Sep 26) 4% 3% 2% 1% 0% Commercial Agri,
Slide 83: Target sector forward-looking adjustments (FLAs)
Target sector forward-looking adjustments (FLAs) Collective provision target sector FLAs ($m) r personal use only Utilities Agriculture, Forestry & Fishing Construction Energy Intensive Industries 1 Tourism, Hospitality and Entertainment Australian Mortgages Retail Trade 334 Commercial Property 304
Slide 84: Probability of default (PD) analysis
Probability of default (PD) analysis Group non-retail IRB EAD1 by probability of default ($bn) r personal use only Non-performing Investment grade Sub investment grade 1.28% Sep 26 56.5% Sep 26 (57.5% Mar 26) 42.2% Sep 26 (41.2% Mar 26) (1.28% Mar 26) 250 200 150 100 50 0 0 to <0.15% 0.15 to <0.25%
Slide 85: ECL provisioning by stages
ECL provisioning by stages Loans and advances by stage1 Provisions by stage Provision coverage to GLAs1 by stage2 ($m) ($bn) (%) r personal use only 0.60 0.61 0.64 1,053 1,070 1,027 6,801 12.8 6,386 12.0 12.2 6,165 200 206 216 2,646 2,350 2,442 19.4 20.0 20.7 815 835 841 3,331 3,476 3,169 1.58 0.38
Slide 86: Australia housing lending asset quality
Australia housing lending asset quality Key considerations Arrears have deteriorated across 2H26 • Arrears and impairment deterioration heavily skewed to r personal use only mortgages serviced by business income, broad-based by +5bps -19bps -10bps 2.45% +11bps vintage and purpose, and across most st
Slide 87: Australia housing lending arrears profile
Australia housing lending arrears profile1 90+ DPD2 & Impaired assets as a % of GLAs by purpose 30+ DPD as a % of GLAs by purpose r personal use only 2.5% 2.5% 2.0% 2.0% 1.83% 1.25% 1.5% 1.5% 1.58% 1.51% 1.0% 1.03% 1.0% 1.15% 0.5% 0.5% 0.0% 0.0% Sep Sep Sep Sep Sep Sep Sep Mar Sep Mar Sep Mar Sep Se
Slide 88: Australian card and personal lending
Australian card and personal lending Key considerations Cards1 and personal lending CIC and as a % of total r personal use only cards and personal lending GLAs ($m) • Lower CICs and arrears mainly due to 2.79% 2.49% 2.21% 2.18% improvement in the Citi portfolio combined with seasonal impacts • Consu
Slide 89: C&IB and B&PB business lending asset quality
C&IB and B&PB business lending asset quality1 Business lending credit impairment charge and as a % Business lending non-performing exposure and as a % of GLAs of GLAs r personal use only ($m) ($m) 2.04% 2.03% 2.00% 1.87% 700 0.24% 0.33% 600 0.20% 0.19% 500 1,615 1,893 2,009 1,206 400 300 520 4,298 4
Slide 90: Business & Private Banking asset quality
Business & Private Banking asset quality B&PB credit impairment charge and as % of GLAs1 B&PB non-performing exposures and as % of GLAs1 ($m) ($m) 0.21% r personal use only 0.18% 0.14% 0.28% 2.41% 2.54% 2.43% 2.53% 7,079 7,044 7,623 422 6,485 292 72 1,707 1,796 2,105 1,648 237 16 206 37 24 335 4,837
Slide 91: B&PB business lending asset quality trends
B&PB business lending asset quality trends Key considerations Non-performing exposures (NPLs) as % of GLAs • Total NPL ratio decreased over 2H26 driven by r personal use only reduction in Default but not impaired, including migration of a small number of customers to 3.04% 3.22% 3.00% 2.99% impaired
Slide 92: Business & Private Banking business lending
Business & Private Banking business lending Non-performing exposures (NPLs) as % of GLAs r personal use only Aligned to revised APS 220 3.04% 3.22% 3.00% 2.99% 2.66% 0.67% 0.73% 2.14% 0.69% 0.76% 1.75% 0.60% 1.66% 0.37% 0.51% 0.33% 2.37% 2.49% 2.31% 2.23% 1.77% 2.06% 0.73% 1.33% 0.58% 0.51% 1.24% 0.
Slide 93: Agriculture, forestry & fishing exposures
Agriculture, forestry & fishing exposures1 Group EAD $65.9bn September 2026 Key considerations • Weather conditions remained mixed; above-average winter rainfall has improved soil r personal use only moisture production prospects across much of Victoria, SA and parts of the southern cropping belt, b
Slide 94: Commercial real estate (CRE)
Commercial real estate (CRE)1 Gross loans & advances (GLAs)1 Breakdown of $99bn CRE EAD3 r personal use only By sector By geography New Australia Total2 Zealand Residential QLD Total CRE (A$bn) 16% 18% WA 81.1 6.8 87.9 VIC Industrial 6% Retail 25% SA Increase / (decrease) from 21% 25% 6% 7.1 (0.2) 6
Slide 95: Commercial real estate
Commercial real estate Key asset quality considerations Sector considerations • Non-performing exposures have reduced over FY26, with • Australian Residential Development origination remains continued skew towards Default but not Impaired exposures challenged by elevated input costs and declining ho
Slide 96: Construction
Construction1 Exposure at default Key considerations • Builder activity and workbook demand remain generally resilient across the market with cost increases largely absorbed or reflected in current EAD $16.8bn r personal use only EAD $16.1bn budgets 1.8 2.0 • ~4% non-retail lending EAD including sub
Slide 97: Energy intensive industries
Energy intensive industries1 Exposure at default Key considerations • Transport & Manufacturing remain under pressure from r personal use only Mar 26 Sep 26 elevated input costs EAD EAD EAD EAD $22.7bn $23.1bn $22.5bn $22.4bn • Credit deterioration evident in the half with non- performing exposures
Slide 98: Non-Bank Finance & Insurance
Non-Bank Finance & Insurance1 Exposure at Default Funds Finance • Funds Finance includes liquidity and leverage facilities to Private Capital Funds r personal use only with a strategic focus on Funds investing in infrastructure assets. EAD $100.1bn EAD $95.7bn • Investor recourse lending provides fi
Slide 99: Utilities
Utilities1 Exposure at default Key considerations • NAB has a long history of lending to the global infrastructure sector and EAD $28.4bn r personal use only EAD $26.3bn an experienced local team; this has been a key target sector for C&IB for 1.1 0.8 many years 1.1 0.8 10.3 11.8 • Recent sector NPL
Slide 100: Capital, Funding & Liquidity
r personal use only Additional information Capital, Funding & Liquidity
Slide 101: Risk-weighted assets
Risk-weighted assets Key messages Risk-weighted assets ($bn) r personal use only • Increase in risk-weighted assets driven mainly by credit risk and IRRBB (1.5) 4.4 0.0 6.4 • Credit RWA largely driven by strong business lending growth, partially offset by overlay releases in Q4 • Moderate deteriorat
Slide 102: IRRBB risk-weighted assets
IRRBB risk-weighted assets Key messages EGL and Optionality RWA runoff profile at Sep 261 ($bn) • NAB currently hedges capital out to 3 years and rate r personal use only insensitive deposits out to 5 years to smooth the impact 5 of interest rates on earnings Current run-off of ~$1.5bn in FY27 4 and
Slide 103: Capital & Deposit hedges
Capital & Deposit hedges NAB replicating portfolios balance NAB replicating portfolios1 (AUD $bn) (%) r personal use only 100 3.72% 4.00% 5 3.41% 3.19% 80 4 3.00% 60 3 2.00% 40 73 78 78 2 43 1.00% 20 40 41 1 0 0.00% 0 Sep 25 Mar 26 Sep 26 Sep 21 Sep 22 Sep 23 Sep 24 Sep 25 Sep 26 Capital - invested
Slide 104: Internationally comparable capital ratios
Internationally comparable capital ratios r personal use only 28.6% 28.8% 28.9% 19.8% 19.7% 19.7% 17.1% 17.1% 17.6% 20.3% 20.3% 20.4% 14.1% 20.3% 11.7% 13.7% 11.6% 13.6% 12.1% 11.9% 13.4% Sep 25 Mar 26 Sep 26 Equivalent internationally comparable ratios1 APRA Common Equity Tier 1 ratios APRA Tier 1
Slide 105: Key regulatory changes impacting capital and liquidity
Key regulatory changes impacting capital and liquidity 2026 2027 2028 Capital reforms (APRA) r personal use only Additional Tier 1 (AT1) Capital Implementation Credit risk capital1 Consultation Implementation Market risk (APS 116)1 Consultation Liquidity reforms (APRA) Liquidity risk (APS 210)1 Cons
Slide 106: Tier and Additional Tier
Tier 2 and Additional Tier 11 Key messages APRA changes to major banks’ capital minimums (%) r personal use only • APRA’s Jan 27 requirements will replace 1.5% AT1 with an 20.26% additional 0.25% CET1 and 1.25% Tier 22 18.25% 18.25% • NAB has $7.1bn of AT1 as at 30 September 2026, which will Tier 2
Slide 107: Asset Funding
Asset Funding Funded balance sheet Group sources and uses of funds, 12 months to 30 Sep 26 ($bn) r personal use only $1,060bn $1,060bn 38 35 Short Term Liquid Assets1, Wholesale, 12% 6 Term Funding 1 21% <12 months, 19 11 Other Deposits3, 4% 2% Other Short Term Assets2, 2% 34 40 Customer Short Term
Slide 108: Liquidity
Liquidity Liquidity coverage ratio (quarterly average) Net stable funding ratio composition ($bn) Group NSFR 116% as at 30 Sep 26 r personal use only $738bn 139% 135% 132% 135% Wholesale funding $636bn & Other Liquids and Non-Financial Other Assets Corporate Deposits Other Loans Retail/SME 212 208 2
Slide 109: Term wholesale funding profile
Term wholesale funding profile Historical term funding issuance1 ($bn) r personal use only 8.1 5.0 4.3 5.0 5.0 5.2 years years years years years years 39 40 1 37 36 38 33 1 3 25 27 21 27 23 18 6 4 4 3 3 5 6 9 9 7 8 11 2 FY21 FY22 FY23 FY24 FY25 FY26 Tenor2 RBNZ Funding Facilities RBA Term Funding Fa
Slide 110: Diversified & flexible term wholesale funding portfolio
Diversified & flexible term wholesale funding portfolio FY26 Issuance by product type FY26 Issuance by currency RMBS GBP Other r personal use only 5% 8% 4% EUR 16% AUD Covered 33% NZD 25% Senior 6% 54% Tier 2 16% USD 33% Outstanding issuance by product type1 Outstanding issuance by currency JPY RMBS
Slide 111: Funding costs
Funding costs Indicative term wholesale funding issuance costs1 Average term wholesale funding portfolio costs2 (bps) (bps) r personal use only 350 125 300 250 120 200 150 115 100 50 0 110 Sep Mar Sep Mar Sep Mar Sep Mar Sep Mar Sep Sep Mar Sep Mar Sep Mar Sep Mar Sep Mar Sep 21 22 22 23 23 24 24 25
Slide 112: Sustainability
r personal use only Additional information Sustainability
Slide 113: Sustainability priorities anchored in customer needs
Sustainability priorities anchored in customer needs Our Support our customers’ environmental and social needs with a safe and sustainable approach ambition r personal use only Our Climate Housing affordability First Nations Strategic To support customers as we move To support increased housing supp
Slide 114: Economic data
r personal use only Additional information Economic data
Slide 115: Australia and NZ key economic indicators
Australia and NZ key economic indicators Australian economic indicators (%)1 NZ Economic indicators (%)1 r personal use only CY23 CY24 CY25 CY26(f) CY27(f) CY23 CY24 CY25 CY26(f) CY27(f) GDP growth2 1.3 1.2 2.6 1.3 1.0 GDP growth2 1.4 -1.6 1.6 2.1 2.8 Unemployment3 3.9 4.0 4.3 4.8 5.4 Unemployment3
Slide 116: Business conditions have weakened
Business conditions have weakened Conditions are now below average1 Capacity utilisation remains above average1 r personal use only (Net Bal.) (%) 85 20 0 80 -20 Business Confidence 75 Capacity utilisation Business Conditions -40 Long-run average -60 70 2008 2011 2014 2017 2020 2023 2026 2008 2011 2
Slide 117: Consumer dynamics will continue to be important
Consumer dynamics will continue to be important Consumer spending has been resilient1 Real disposable income growth is easing2 r personal use only (%) MoM YoY 10 -2 0 2 4 6 8 10 0 5 10 15 20 25 5 Total 1.1 9 0 Total non-discretionary 1.2 9.4 -5 Total discretionary 1 8.8 -10 -15 2016 2018 2020 2022 2
Slide 118: Labour market conditions have loosened but remain healthy
Labour market conditions have loosened but remain healthy Unemployment has continued to rise gradually1 Labour demand growth remains positive2 (%) r personal use only (%) 4 7 2 6 0 5 -2 4 Employment Growth 3 Unemployment rate -4 2 -6 2006 2010 2014 2018 2022 2026 2006 2010 2014 2018 2022 2026 Forwar
Slide 119: The housing market has notably weakened
The housing market has notably weakened House prices are falling across all regions1 Rents growth remains elevated2 (Index) r personal use only (%) Sydney Melbourne Brisbane 250 Sydney Melbourne Brisbane Adelaide Perth Hobart 15 230 Adelaide Perth Hobart 210 10 190 5 170 150 0 130 -5 110 90 -10 2019
Slide 120: Inflation is above the target band
Inflation is above the target band Underlying inflation has reaccelerated1 Goods and services inflation has reaccelerated2 r personal use only (%) (%) (%) 7 7 Market Goods Market Services 7 6 6 5 Quarterly Year-ended 5 5 4 4 3 3 3 2 2 1 1 1 0 0 -1 2006 2010 2014 2018 2022 2026 2008 2010 2012 2014 20
Slide 121: New Zealand economy
New Zealand economy Growth has picked up recently1 The unemployment rate is rising2 r personal use only (GDP, % yoy) (Unemployment rate, %) 6 15 10 5 5 4 0 -5 3 -10 2019 2020 2021 2022 2023 2024 2025 2026 2019 2020 2021 2022 2023 2024 2025 2026 But inflation remains elevated3 The RBNZ is tightening
Slide 122: New Zealand housing
New Zealand housing Auckland’s trend is downward, but there is little Sales volumes are easing2 movement elsewhere nationally1 r personal use only (Index) (‘000s) 4,500 10 Auckland 4,000 National ex Auckland 8 3,500 6 3,000 4 2,500 2 2,000 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 201
Slide 123: Global economy
Global economy Oil prices remain elevated as the war in Iran drags on1 But global growth has been relatively resilient to date2 r personal use only (Brent Crude USD/barrel) (% yoy) 140 8 120 6 100 4 80 2 60 0 40 Global growth 20 -2 Forecast 0 -4 2016 2018 2020 2022 2024 2026 2000 2004 2008 2012 2016
Slide 124: Abbreviations and disclaimers
r personal use only Abbreviations and disclaimers
Slide 125: Sources and notes
Sources and notes Page 11 (1) Sourced from RFI Global - Atlas. Data on a six-month roll. Business MFI Share is the proportion of all businesses with any business banking, that nominate the financial r personal use only institution as their main financial institution (MFI) (2) Sourced from RFI Global
Slide 126: Abbreviations and glossary
Abbreviations and glossary AFCX Australian Financial Crimes Exchange GLAs Gross Loans and Advances Australian and New Zealand Standard Industrial HEM Household Expenditure Measure ANZSIC Classification (2013) r personal use only HQLA High-Quality Liquid Assets AT1 Additional Tier 1 Capital IRB Inter
Slide 127: Disclaimer
Disclaimer The material in this presentation is general background information about the NAB Group current at the date of the presentation on 5 November 2026. The information is given in summary form and does not purport to be complete. It is intended to be read by a professional analyst and investo
National Australia Bank — FY2026 Earnings Presentation on 6ix