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  • 1. National Australia Bank Positioned for Growth July 8 , 2002 national.com.au Richard McKinnon, Chief Financial Officer

2. Agenda 2. Competitive advantages in Banking 4. Targets and Summary 3.Wealth Management in the National 1. The National today 3.

  • We are focused on integrated financial services in Australia, NZ, Great Britain and Ireland
  • Positioning for Growth provided room for investment while maintaining earnings momentum
    • We are targeting 12% cash earnings per share growth in 2003 and 2004
    • While investing in Wealth Management in Australia and UK and banking across the group to underpin future growth
  • We have an active ongoing share buy-back
  • HomeSide risk reducing with MSR sale

The National today 4. We have a clear strategic intent by business and region Banking Australia NZ UK/RoI Asia / US Wholesale WealthManagement

  • Not Applicable
  • Universally recognised as the top FS provider in Australia
    • No. 1 in business and agri-business banking
    • No. 1 in premium and private segments
  • To provide market leading integrated financial services
    • Targeted operating strategies across franchises
    • Leverage product including wealth management and wholesale
  • Maintain a leading position in the NZ market
    • No 1 or 2 in market share in business and in retail banking
    • Increased wealth management market share
  • To be recognised by clients as a high quality and innovative financial services partner
    • No. 1WholesaleBank

To grow a relationship based business to support core clients in selected markets

  • To be recognised by clients as a high quality and innovative financial services partner
    • No. 1Wholesale Bank

To continue to service the needs of our core clients and pursue niche opportunities in selected markets

  • Leading business partner & outsource provider:
    • No. 1 in Retail FUMand in Group & Personal insurance
    • A leading provider ofoutsourced corporate super &employee benefit solutions
  • A recognised investment platform with multi channel distribution capability:
    • Top 10 in retail funds flow
  • Best practice bancassurer
    • Better than industry standard benchmark performance for WM penetration
  • Best practice bancassurer:
    • Better than industry standard benchmark performance for WM penetration
    • Top 2 Fund Manager
    • Top 2 in Life Insurance
  • Continue emerging market strategy:
    • Hong Kong - Top 10 life insurer
    • Thailand - Top 5 Coy by 2005 in new business
    • Indonesia - Grow Value

5. We have a simplified structure with a strong and diverse leadership team

  • 5 EGMs in new roles
  • 3 external appointments

Managing Director & CEO Frank Cicutto OPERATIONAL SUPPORT EGM People & Culture Peter McKinnon EGM Risk Management Chris Lewis EGM Corporate Development Mike Laing CFO Richard McKinnon CEO BNZ Peter Thodey EGMFinancial Services AU Ian MacDonald EGM Financial Services GB & Ireland Steve Targett EGMWealth Management Peter Scott EGM Corporate Development Mike Laing EGMFinancial Services AU Ian MacDonald EGM Financial Services GB & Ireland Steve Targett EGM Risk Management Chris Lewis EGM Risk Management Chris Lewis EGM Wholesale Financial Services Ian Scholes EGM Wholesale Financial Services Ian Scholes EGM Wholesale Financial Services Ian Scholes EGMFinancial Services AU Ian MacDonald EGM Financial Services GB & Ireland Steve Targett EGM Corporate Development Mike Laing CIO Ian Crouch CIO Ian Crouch CIO Ian Crouch CIO Ian Crouch 6. Our fist half result shows strong earnings momentum

  • Record Net Profit $ 2.256 billion
  • Profit 11.4 % up on Mar 01 and 13.1% up on Sep 01
  • ROE up 110bpto 20.1%
  • ROA up 15bpto 1.23%
  • Dividend per share up 5c to 72c
  • Additional $1 billion buy-back

Half Years $M's Net profit excluding significant items 7. ..and strong performances in core business units Growth in Business Unit Net Profit 0 250 500 750 1000 Australia Europe NZ Wealth Management Wholesale $ Ms Financial Services Mar-01 Sep-01 Mar-02 29.6% 19.5% 17.7% 16.1% 0.3% 8. Positioning for Growth provided robust organic growth plans for 2003 and beyond

  • Strategic focus
  • Leverage past investments & capabilities
  • Capture growth opportunities
  • Revitalise organisation
  • $370M p.a. cost reduction by 2004
  • Increased revenues with 1380 new positions
  • Over $400M of investment in Wealth Management and Europe
  • Cultural change program

Positioning For Growth 9. 2. Competitive advantages in Banking 4. Targets and Summary 3. Growth opportunity in Wealth Management 1. The National today 10. We have strong market positions and distinct competitive advantages in banking .

  • Leading relationship banking capabilities
    • Leading market positions in Australia (SME and Premium), New Zealand and Northern Ireland
    • Multiple specialised distribution platforms aligned to customer needs and value potential
    • Integration of product specialists and service delivery
  • Global best practice Customer Relationship Management

11. Financial Services Australia holds a dominant position in Business Banking Source Greenwich Associates MIDDLEMARKET SOLE PROPRIETORS CORPORATENATIONAL BANK'S SHARE (PENETRATION) MARKET DEFINITION & SIZE 42%61%28%

  • Turnover over $100m
  • 1,200 companies

Total Number of National Business customers:305,000 (30%)Total Number of Business customers in Australia:1,076,700BFSA SMALL BUSINESSWholesale

  • Turnover over >$5m -

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